Daily Digest

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Daily Digest 8/29 - The Leveraged Buyout Of America, Gold, Silver And The Status Quo

Thursday, August 29, 2013, 9:52 AM

Economy

The End Of Cheap US Cash Claims Another Victim (Nervous Nelly)

The question some are asking is whether this is just a contagion-driven panic or are there fundamental flaws in the economy? Just as the case with India (see post), trade imbalance in Indonesia is behind some of this adjustment. In the past, foreign investment covered up the problem, but the party is now over. Investors - not surprisingly - have become uneasy with the chart below...

The cash-strapped millennials using 'sharing economy' (Nervous Nelly)

The 'millennials' are the generation that came of age after the 2008 financial crisis.

Cash-strapped and internet-savvy, they have very different expectations about jobs, credit and money.

The Leveraged Buyout Of America (westcoastjan)

According to legal scholar Saule Omarova, over the past five years, there has been a “quiet transformation of U.S. financial holding companies.” These financial services companies have become global merchants that seek to extract rent from any commercial or financial business activity within their reach. They have used legal authority in Graham-Leach-Bliley to subvert the “foundational principle of separation of banking from commerce”...

Codename 'Apalachee': How America Spies on Europe and the UN (westcoastjan)

To mark the official opening of the delegation's new offices in September 2012, EU Commission President José Manuel Barroso and EU Council President Herman Van Rompuy flew in from Brussels, and UN Secretary-General Ban Ki-moon was on hand as guest of honor. For "old" Europe -- which finances over one-third of the regular UN budget -- this was a confirmation of its geopolitical importance.

US bank chief pleads guilty to using bailout cash to buy home (westcoastjan)

Mr Woods had previously written to TARP regulators describing Mainstreet as a small community bank and saying the funds "will provide vitally needed infusions to a bleeding patient".

His wrongdoing was uncovered when regulators began examining how the money was used.

Gold’s Protective Power In Action: India’s Ongoing Currency Destruction (Taki T.)

Mukesh Ambani, the chairman of Reliance Industries, which operates the world’s largest oil refineries, has lost $5.6bn of his personal wealth since 1 May, according to the Bloomberg Billionaires index.

His fortune took a further hit on Thursday, as India’s currency hit fresh lows, adding to the sense of panic in emerging markets. Developing economies, excluding China, have seen an outflow of $81bn in emergency reserves since early May, as central banks try to prop up their currencies.

Currency Spikes at 4 P.M. in London Provide Rigging Clues (pinecarr)

The recurring spikes take place at the same time financial benchmarks known as the WM/Reuters (TRI) rates are set based on those trades. Now fund managers and scholars say the patterns look like an attempt by currency dealers to manipulate the rates, distorting the value of trillions of dollars of investments in funds that track global indexes. Bloomberg News reported in June that dealers shared information and used client orders to move the rates to boost trading profit. The U.K. Financial Conduct Authority is reviewing the allegations, a spokesman said.

Gold, Silver and the Status Quo (GE Christenson)

Let’s call the Status Quo the existing state of affairs including the system of politics, government, currencies, banks, military contractors, financial systems and so forth. We all know “something is wrong” with the system, but the system is what it is and we live within it. The system richly rewards the political and financial elite, the upper middle class and a few privileged groups, usually at the expense of the remaining “debt serfs” via higher taxes, massive debts, wars, assets transfers, currency debasement and various controls over the economy.

One of the Most Important Gold Charts That You Should Remember (adam)

The Big Turn occurred in 2007 when the western central banks capitulated, and realized that they must allow the price of gold to rise, or exhaust their own gold reserves in the process. The central bank change did not cause this, although it certainly reinforces the trend. It is a symptom of the great change and the first unmistakable manifestation of the currency war. Although astute observers could see this coming in the aftermath of the Asian currency crisis in the 1990's and the Russian default on the rouble.

US electrical grid on the edge of failure (Jason C.)

The warning comes ten years after a blackout that crippled parts of the midwest and northeastern United States and parts of Canada. In that case, a series of errors resulted in the loss of three transmission lines in Ohio over the course of about an hour. Once the third line went down, the outage cascaded towards the coast, cutting power to some 50 million people. Havlin says that this outage is an example of the inherent instability his study describes, but others question whether the team’s conclusions can really be extrapolated to the real world.

News of Vermont Yankee nuclear power plant's planned shutdown surprises environmentalists, businesses (gillbilly)

With a maximum capacity of more than 600 megawatts, Vermont Yankee is among the region’s largest power plants and is one of four nuclear stations providing baseload power to New England. Overall, nuclear generation produced 31 percent of New England’s electricity in 2012, according to ISO new England, operator of the region’s power grid.

Vermont Nuclear Plant's Closure Shows Impact of Cheap Gas (Amanda)

Decision to Shut the Facility Comes as Shale Boom Pressures Older, Costlier Sources of Energy

Japan Upgrades Fukushima Nuclear Incident To 'Serious' After Plant Operator Admits Leaks Started Weeks Before Being Discovered (Jason C.)

Tanaka said there is a much larger ongoing problem at the plant: massive amounts of contaminated ground water reaching the sea. But that problem cannot even be rated under the IAEA's International Nuclear and Radiological Event Scale because it is unknown exactly how much ground water is escaping, how contaminated it is and what effect it is having on the sea and marine products.

Container Park Craze: Hipsters Create Oases in Urban Wastelands (westcoastjan)

"Frau Gerold's Garden," situated in an industrial park in western Zurich, is what the Swiss refer to as a "Gartenbeiz" (beer garden). But it has more to offer than just pints of local brew. In an effort to fuse several elements of hipster culture, German designer Katja Weber has put 2,500 square meters (27,000 square feet) of wasteland to novel use.

Gold & Silver

Click to read the Gold & Silver Digest: 8/28/13

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."

8 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
U.S.-based bond funds post biggest outflow in eight weeks - ICI

U.S.-based bond funds post biggest outflow in eight weeks - ICI

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
Japan budget requests hit a record $1.02 trln for FY2014

Japan budget requests hit a record $1.02 trln for FY2014

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Max and Dr. Martenson.

What a happy surprise.

What a pity that I could not disagree with them on any point.

Encourage your critics to come on our site and bust this cult right open. 

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2237
"...the sinkholes of stupid"

"...the sinkholes of stupid"  -What a great line!! That got a good gut-laugh out of me!

Thanks Max (and Arthur for sharing)!  

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Britain Pulls Out.

From Zerohedge.

Something to do with Democracy.

cshanahn12's picture
cshanahn12
Status: Member (Offline)
Joined: Aug 29 2013
Posts: 1
I like the rubber chicken

I like the rubber chicken

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2237
I'm being plucked!

Yeah, that's good!  "hello....I'm being plucked!!"

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