Daily Digest

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Daily Digest 10/10 - Life In Hungary's 'Debtor's Village', The Broken Lives Of Fukushima

Thursday, October 10, 2013, 9:33 AM


U.S. Shutdown: An Excuse For Debt Default? (David B.)

Japan merely defibrillated its economy with 0% interest rates, alone. The U.S. has brought the world something far, far worse: “QE” (and 0% interest rates). This is “money”(?) conjured out of thin air, and (unlike all the other $trillions of near-worthless U.S. paper) all of this “QE” paper is not even “backed” by debt. It is merely Monopoly Money, in every sense of the words.

China Says “This Is U.S.’ Responsibility,” Imports Another 131 Tonnes Of Gold (Taki T.)

In his daily commentary, gold expert Jim Sinclair said this could be the point of confidence loss in the dollar because of the real and feasible threat of a dysfunctional legislative unable to avoid default. He says: “This “near crisis” is not going to be easily or if at all forgotten by major holders of US debt.”

Created Currencies Are Not Gold (GE Christenson)

Monopoly money. Euros. Dollars. What is the essential difference? Paper, with no intrinsic value, is accepted only because we have confidence in the issuer of the currency and/or because we have no other choice. Monopoly money can buy hotels on Park Place. Unbacked paper dollars can buy hotels in Manhattan. The hundreds of unbacked paper currencies that have become worthless during the last century can buy NOTHING.

A Brave New Transatlantic Partnership: the social & environmental consequences of the proposed EU-US trade deal (westcoastjan)

The report also explains how corporations are lobbying EU-US trade negotiators to use the deal to weaken food safety, labour, health and environmental standards as well as undermine digital rights. Attempts to strengthen banking regulation in the face of the financial crisis could also be jeopardised as the financial lobby uses the secretive trade negotiations to undo financial reforms such as restrictions on the total value of financial transactions or the legal form of its operations.

Federal science minister Greg Rickford not commenting on fundraising letter labelling some scientists ‘radical ideologues’ (westcoastjan)

Rickford’s office was not able to provide any examples of his work to protect the facility, which previously received about $2 million in annual federal funding until cuts announced following the 2012 federal budget. The minister’s office referred questions about the letter to the Conservative party, which did not respond to requests for comment.

It Is Unanimous: Gold Remains the Most Hated Asset Class (westcoastjan)

We are however not necessarily alleging here that the individual analysts making these calls are acting in order to defend these vested interests. Rather, we think most (but not all) of them simply don't understand the gold market and that their arguments are simply in error. Mind, we have no opinion on whether their price forecasts will or won't turn out to be correct, we are just saying that they are throwing darts. If they turn out to be right, it will be for the wrong reasons.

Republicans twerking for the cameras like Miley Cyrus: Neil Macdonald (westcoastjan)

reporter asked presidential spokesman Jay Carney whether Barack Obama would consider giving Republican Speaker John Boehner some “political cover” and let him climb down from the threat of a catastrophic default on America’s debt obligations, given “the politics of the House.”

Life in Hungary's purpose-built 'debtors' village' (westcoastjan)

Interest rates in Hungarian forints had been traditionally high, and in the first years of the new millennium as money flooded the world markets, parent banks abroad encouraged their subsidiaries in Hungary to make available cheap loans, denominated in Swiss francs in particular.

The Reason for the ‘Fall’ in Gas Prices (James B.)

But vapor pressure is also a function of temperature. Under normal atmospheric temperatures water is a liquid because its vapor pressure is below 14.7 psi. It still evaporates (i.e. it still has a vapor pressure), but very slowly. As water is heated, its vapor pressure increases, and as the boiling point of water is reached the vapor pressure of water reaches that of atmospheric pressure and the water becomes a gas (steam).

Special Report: U.S. builders hoard mineral rights under new homes (westcoastjan)

As a result, homebuilders and developers have been increasingly - and quietly - hanging on to the mineral rights underneath their projects, pushing aside homeowners' interests to set themselves up for financial gain when energy companies come calling. This is happening in regions far beyond the traditional American oil patch, which has a long history of selling subsurface rights.

OECD: 'No bailout' for climate threat (westcoastjan)

Mr Gurria will also warn that renewable technologies will be harmed by stop-start policies. Renewables firms in the UK have benefited from a stable policy framework in the medium term, but are uncertain about long-term investments as right-wing Conservatives attempt to abandon CO2 targets for 2030, arguing that they damage competitiveness.

There's a Major Salmonella Outbreak During a Government Shutdown (Amanda)

There's a salmonella outbreak affecting hundreds of people in multiple states right now, all while food safety inspection crews and disease-tracking scientists sit at home, furloughed because of the government shutdown. This is one shutdown nightmare scenario that people were worried about even before the government pulled the plug on itself.

Step into Harvests Around the World (westcoastjan)

In this Armenian community, raising and breeding cattle used to be the only game in town. World Vision taught children in this village how to plant and tend gardens to provide extra nutrients. The results are evident!

The Broken Lives of Fukushima (jdargis)

More than two and a half years have passed since the massive 2011 earthquake and tsunami struck northeastern Japan, wrecking the Fukushima nuclear plant and claiming nearly 16,000 lives. When it became clear that nuclear contamination was widespread, the government evacuated about 160,000 people living near the plant and established a 20-km compulsory exclusion zone, which remains in place today. Today, Tokyo Electric Power Company is still struggling to contain contaminated water at the destroyed plant. Former residents are allowed to return up to once a month, but they're forbidden to stay overnight. Reuters photographer Damir Sagolj recently joined one of these trips, capturing images of a haunting landscape and lives torn apart by disaster.

Nestlé Gives In On Water Drawing Conditions (westcoastjan)

That's when the Council of Canadians and Wellington Water Watchers jumped in and launched an appeal. The groups said they appealed in order to protect groundwater that makes its way into the Grand and Credit rivers.

Gold & Silver

Click to read the Gold & Silver Digest: 10/8/13

Provided daily by the Peak Prosperity Gold & Silver Group

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Heres the website associated with yesterdays 9/11 video


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Re: "U.S. Shutdown: An Excuse For Debt Default?"

Interesting article, David B; I've been wondering the same thing!  Thanks for posting.

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