Daily Digest

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Daily Digest 10/14 - Patients Mired In Doctor Bills, Where Have All the (New) Dollars Gone?

Monday, October 14, 2013, 11:37 AM

Economy

Where Have All the (New) Dollars Gone? (Thomas C.)

I thought that was very interesting and have since checked hundreds of bills of all denominations (up to $100) and haven’t found any of Series 2010, 2011, 2012, or 2013. She may be right about that, and that the Fed is “printing”/creating money in digital form only, in the account balances at the primary dealer banks (mostly as “reserves”).

China Has Some Pointedly Hard Words For the US and the Dollar (westcoastjan)

"What may also be included as a key part of an effective reform is the introduction of a new international reserve currency that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States."

What does China own in Britain? (westcoastjan)

And Britain is one of the more popular destinations for Chinese investment. It is in the top 10 nations globally and attracts more than double the investment of any other nation in Europe. Globally, Australia comes out top, but even here Chinese investment last year equated to just 0.6% of the country's annual GDP. In developing nations, Chinese investment is more significant. In Nigeria, for example, inflows from China equated to 2% of GDP in 2012.

Bankruptcy for Ailing Detroit, but Prosperity for Its Teams (jdargis)

Mr. Griffin went to work last week ringing up merchandise, chatting with customers and sneaking peeks at the ballgame, but part of Detroit’s municipal work force stayed home because of an enforced furlough. The mayor’s office, the City Council, the Board of Ethics and the Finance Department’s purchasing division were all shuttered for the first of two furlough days scheduled in October. Much of the rest of the city was just as quiet. Buses ran late or not at all. Whole acres of downtown streets were vacant. Young men stood idle on street corners.

Social Security raise among smallest in history (jdargis)

Next year’s raise will be small because consumer prices, as measured by the government, have not gone up much in the past year.

The exact size of the cost-of-living adjustment will not be known until the Labor Department releases the inflation report for September. That was supposed to happen Wednesday, but the report was delayed indefinitely because of the partial government shutdown.

Patients Mired in Costly Credit From Doctors (jdargis)

“I am worried that I will be paying for this until I die,” says Ms. Gannon, who lives in Dunedin, Fla. Dr. Knellinger, who works out of Palm Harbor, Fla., did not respond to requests for comment.

This Massive Discovery Has Put The Saudis Into a Panic (Dmitry V.)

Encompassing an area in excess of 30,000 square miles, what's buried within the basin is enough black gold to completely change the global oil landscape-not to mention the lives early investors.

Analysts now believe ground zero will be much like is was in Saudi Arabia in the 1950's.

Synthetics Breakthrough to Increase Biofuel Production by 50% (James B.)

"This pathway solved one of the most significant limitations in biofuel production and bio-refining: losing one-third of carbon from carbohydrate raw materials. This limitation was previously thought to be insurmountable because of the way glycolysis evolved," principal investigator on the research, James Liao said in a statement.

Gold & Silver

Click to read the Gold & Silver Digest: 10/12/13

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: 4145
David Huang's picture
David Huang
Status: Bronze Member (Offline)
Joined: Jan 20 2010
Posts: 75
Where have all the (new) dollars gone

After reading the article asking where all the new printed dollars are I did go and check my paper money.  There was not a single bill newer than 2009 in any denomination just as they said.  I wonder why that is?

jonesb.mta's picture
jonesb.mta
Status: Silver Member (Offline)
Joined: Jun 11 2008
Posts: 126
New Dollars

They don't change the date printed on the dollar unless there is a new Treasury Secretary or some other changes that require a change. The dollars being printed now are still 2009.

David Huang's picture
David Huang
Status: Bronze Member (Offline)
Joined: Jan 20 2010
Posts: 75
Thanks

Thanks for the info jonesb.mta.  That would solve the mystery. 

Helix's picture
Helix
Status: Bronze Member (Offline)
Joined: Sep 20 2008
Posts: 79
Shame on Peak Prosperity

I have a big problem with articles like "This Massive Discovery Has Put The Saudis Into a Panic".  This article is pure speculator-baiting.  Notice in particular that glowing praise was showered on "analyst" (that is, vested interest) predictions, real estate agent (more vested interests) testimonials, and the like, while at the same time omitting critical technical details.  I could not determine, for example, any estimate of the amount of oil that is recoverable in this formation, nor any estimate of the cost of its extraction given the inhospitable environment, both critical pieces of information given that it is a shale oil formation.  Notice also the extensive use of vague but emotion-laden terminology such as "massive find" and "redrawing of the global energy map as we know it", "flocked", "hottest real-estate market", "vast geological structure", "ground zero", "inner circle", "ignored by the main stream media", and "enough black gold to completely change... the lives [of] early investors"; terminology that is clearly crafted to encourage a stampede mentality among investors without conveying any real information.

For Peak Prosperity to be uncritically reproducing a blatant sales pitch as if it were sound information is reprehensible.  I really do expect more from this web site.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The Australian Oil.

I looked into the south Australia oil field. It is a fracking operation. 4 kms down, 4 kms horizontal, rapid depletion rate. My quick calculations showed that we would need to put in 4000 kms of drill steel per year to keep up with Australia's consumption. Did somebody mention that it is dry there?

I stopped looking.

BSV's picture
BSV
Status: Silver Member (Offline)
Joined: Jan 26 2009
Posts: 170
Shame on Peak Prosperity?

@ Helix. Peak Prosperity is an oasis of civilized discourse. Occasionally a post will contain incorrect information. It's not possible for the small staff to vet every post before it appears. People who follow this site tend to be quite intelligent and they can figure out what is and is not credible. Under the circumstances perhaps your words are a little harsh. To make sure that every post is factual would require employing a squad of fact-checkers at considerable expense.

Arthur Robey is correct about "tight oil" formations in general. I live in Texas, where we have a lot of hydraulic fracturing and some productive shale formations. The process uses a lot of scarce fresh water and the depletion rate of successful wells is extremely high. It works here -- so far -- but one wonders how much longer it will be before people realize that the energy return on energy invested is not favorable.

Thetallestmanonearth's picture
Thetallestmanonearth
Status: Gold Member (Offline)
Joined: Feb 28 2013
Posts: 323
re: Helix

Hi Helix,

 

I agree with you whole-heartedly about the misleading nature of the article. Note that they only mention that little bit about it being "unconventional oil" once and don't go on to explain what that means.  If they did another sentence further on about lack of water in the region would take on more meaning.  To my way of thinking, one of the most unconventional things about unconventional oil is that the profits don't come from the oil, but rather from a hoard of duped early investors.

I disagree with your criticism of PP for posting this article. First, I am glad that the site provides us with multiple view-points including some they know are contrary to their message.  I think this shows their faith in the maturity of the readership here not to be duped by the hype.  Also, note that they never comment on articles posted.  I might be mistaken, but I don't think the mechanism even exists for them to provide a preamble in this section of the website.

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