Daily Digest

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Daily Digest 7/8 - The Darkest Pool, Make It Work On A Single Salary

Monday, July 8, 2013, 4:56 PM

Economy

Economist Caution: Prepare For 'Massive Wealth Destruction' (Nervous Nelly)

“If we keep doing this policy of stimulus and growing government, it’s just going to get worse for the average American. Our standard of living is going to fall ... People who are expecting Social Security can’t get all that money. People expecting government pensions can’t get all their money ... We simply can’t afford to pay them.”

The Darkest Pool (Michael W.)

This is the eeriest summer. The coordinated effort to devalue gold — so as to maintain the sagging reputation of the world’s re$erve currency — has had the effect mainly of funneling it out of weak hands in the west to strong hands in the east, to countries that at one time or another we regarded as adversaries. China and Russia have been backing up their respective trucks at the gold warehouse loading dock, and before too long they will have yuan and rubles with more credibility than the US dollar.

A Dark Magic: The Rise Of The Robot Traders (westcoastjan)

When you think of a trading floor in London or New York, perhaps you imagine a gaggle of sweaty men elbowing each other out of the way as they use elaborate finger movements to convey their frantic orders.

China ex-rail minister given suspended death sentence (westcoastjan)

He was sentenced to death with a two-year reprieve, deprived of his political rights for life and jailed for 10 years, Xinhua said, quoting the court verdict. His personal property will also be confiscated.

Despite his sentence, he is not expected to face the death penalty - suspended death sentences are normally commuted to life imprisonment in China.

Make It Work On A Single Salary (westcoastjan)

In Shanghai, where having a stay-at-home parent is a status symbol, single-salary families usually have income of about RMB 467,600 to 935,200 ($76,273 to $152,546) and typically own at least two apartments worth RMB 2.3 million ($375,167), according to Peter Murphy, a financial consultant with Rock Private Office in Shanghai. “They can’t afford to be seen as cutting back, as this would be a massive loss of face,” he said.

For Better or Worse, Big Oil has Big U.S. Future (James S.)

U.S. lawmakers say more discoveries in the Gulf of Mexico like these would complement onshore gains from lucrative oil fields in North Dakota and Texas. Legislation drafted in part by U.S. Rep. Jeff Duncan, S.C., would open up more areas in the Gulf of Mexico by advancing a transboundary maritime agreement with the Mexican government. He said the 172 million barrels of oil and 304 billion cubic feet of natural gas in the offshore area would go a long way toward shielding the U.S. economy from overseas shocks like the Libyan civil war in 2011 and ongoing crises in Egypt.

Cost of water share nearly doubles in northern Colorado (Richard B.)

For years, farmers have sold their water to growing cities in the region, either because they were retiring from farming and didn't have children taking over operations, or because they were pursuing other careers, since farming wasn't profitable at the time.

Gold & Silver

Click to read the Gold & Silver Digest: 7/5/13

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

4 Comments

pyranablade's picture
pyranablade
Status: Silver Member (Offline)
Joined: Nov 8 2010
Posts: 205
Aftershock

Has anybody here read the Aftershock book?

 

And why are they offering it for free if you watch the short video?

(Obviously, they're trying to sell us something)

jdye51's picture
jdye51
Status: Silver Member (Offline)
Joined: Feb 16 2011
Posts: 157
Book

I read it and wasn't especially impressed. I got it for signing up but ended  up canceling later on.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060

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