Daily Digest

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Daily Digest 6/4 - A Gold Myth Exposed, Cicadas Get a Warm Welcome In CT

Tuesday, June 4, 2013, 10:58 AM

Economy

A Gold Myth Exposed With 7 Simple Figures (Taki T.)

Overall total global demand for gold in Q1 2013 was 963 tonnes according to the World Gold Council. That includes India’s gold demand of 256.5 tonnes and 294 tonnes of China. The World Gold council estimates that Indian gold imports will reach 350-400 tonnes in Q2 2013. Let’s assume that April and May will be accounting for 250 tonnes.

Groups want cap on Nestlé's water permit during droughts (westcoastjan)

"The Ministry of the Environment has now capitulated on their own demands. They've rolled over on it and they seem to be saying, they are no longer going to have mandatory restrictions," said a frustrated Nagy.

"Well, why did the ministry change their mind?"

College in Sweden is free but students still have a ton of debt. How can that be? (jdargis)

College in Sweden is free. But rent isn’t. And food isn’t. Neither is the beer that fuels the relatively infrequent, yet legendary, binges in which some Swedes partake. Costs of living in Sweden are high, especially in cities such as Stockholm, which regularly ranks among the world’s most expensive places to live. But again, this stuff isn’t free for students in other European countries either. So why do Swedish students end up with more debt? It’s pretty simple, actually. In Sweden, young people are expected to pay for things themselves instead of sponging off their parents.

A Tale of Wall Street Excess (jdargis)

“The Buy Side” is one of several titles due out this summer pegged to the extensive government insider trading investigation, a list that includes “Circle of Friends” by Charles Gasparino, a broad examination of the crackdown, and “The Billionaire’s Apprentice” by Anita Raghavan, an account of the case against the former Goldman director Rajat K. Gupta. (An article about insider trading by Ms. Raghavan, an occasional contributor to The New York Times, is on DealBook.) While the greed and excesses of Wall Street may not be a surprise, Mr. Duff’s book provides a window into the world of insider trading and the cowboy culture that blurs right from wrong.

European Union Backs Down on China Tariffs (jdargis)

Premier Li Keqiang of China bypassed Mr. De Gucht during a visit to Germany last week and persuaded Chancellor Angela Merkel to call for further negotiations. He then went over Mr. De Gucht’s head on Monday night with a phone conversation with the European Commission president, José Manuel Barroso.

Lots of Energy, Little Access: Africa and Asia in the Dark (James S.)

Population growth is quickly out-pacing any progress towards increasing energy accessibility. The result is that energy accessibility seems to be at a standstill despite the progress. It isn’t gaining the necessary traction even though an additional 1.7 billion people were given access to electricity between 1990 and 2010. Populations are growing faster, so we’re back to the beginning with the math.

It’s a problem largely spanning 20 countries in Africa and Asia.

Chasing the Storm, but Hoping Not to Catch It (jdargis)

“When a veteran storm chaser as cautious and experienced as Tim Samaras dies, I hope it is a lesson to all the storm chasers of just how potentially dangerous storm chasing is,” said Greg Forbes, a meteorologist with the Weather Channel. “There is some chance you could die.”

Here, Cicadas Get a Warm Welcome (jdargis)

Although Connecticut lies at the northern fringes of this year’s emergence, known collectively as Brood II, the state is hallowed ground for cicada history and scholarship. The Peabody Museum, where the exhibition “Return of the 17-Year Cicadas!” is on display until Sept. 3, contains specimens of Magicicada septendecim from 1843, the oldest at any museum.

Gold & Silver

Click to read the Gold & Silver Digest: 6/3/13

Provided daily by the Peak Prosperity Gold & Silver Group

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