Daily Digest

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Daily Digest 10/17 - The Folly Of Empire, The Jobs Chinese Girls Can't Do

Thursday, October 17, 2013, 11:36 AM

Economy

Blueprints for a New Economy (westcoastjan)

Gandhi, too, was committed to the construction of parallel institutions. The “constructive program,” a critical component of satyagraha (nonviolent civil resistance), involved “building a new society in the shell of the old.” Gandhi sought economic self-reliance for Indian people through homespun clothing and handmade salt, and through cooperative community efforts to educate, win workers’ rights and restore a clean and healthy environment—all of which required transcendence of caste and religious tension.

Bodies as cash machines: Americans selling hair, breast milk, eggs to make ends meet (westcoastjan)

In all but two quarters since the beginning of 2011, “hair,” “eggs,” or “kidney” have been among the top four autofill results for the Google search query, “I want to sell my…,” according to Nicholas Colas, chief market strategist at New York-based ConvergEx Group, which provides brokerage and trading-related services for institutional investors.

Another U.S. Whistleblower Behind Bars? Investor Jailed After Exposing Corrupt Azerbaijani Oil Deal (HughK)

Since May, Bourke has been held in a federal prison, serving a term of one year and one day for violating the Foreign Corrupt Practices Act for alleged knowledge of the bribery that allegedly took place in 1998. Other investors in the Azerbaijan scheme included former Democratic Senate Majority leader George Mitchell and major institutions including Columbia University and AIG, but no one else was jailed in the United States. High-ranking former U.S. and British officials from the CIAand MI6 have raised serious concerns about the conviction of Bourke in part because the key witnesses during his trial were allegedly intelligence assets working for the U.S. government.

Silver: 4 Cycles in 12 Years (GE Christenson)

Based on the chart, the high in April 2011 was quite high, the subsequent low in July 2013 was an unusually deep correction and substantially delayed compared to previous cycles. I interpret this extended and deep low as a reaction to the huge rally from about $18 in mid-2010 to nearly $50 in April 2011. High Frequency Trading and massive intervention since the crash of 2008 have pushed the prices for gold and silver much higher and much lower than in previous cycles. They have also made the timing projections less reliable, but certain parallels are clear.

Interview of James Rickards About Central Bank Manipulation of Gold and Silver Markets (Jonathan D.)

The question all gold investors have in mind is “When will the manipulation end ?”. In the interview below, James Rickards, author of the bestseller “Currency Wars : The making of the next global crisis” give some very interesting answers you won’t read in the mainstream media. It is high level information from an an expert who anticipated long ago what’s happening today.

Wealthy Families Continue To Seek Jurisdictional Diversification (Taki T.)

Remember how Mitt Romney, the former Massachusetts governor, was criticized publically for keeping some of his fortune in the Cayman Islands? One could certainly argue that this was politically clumsy, particularly since he was running for President. However, assuming he had properly reported and filed the information with his taxes, there was nothing illegal or immoral about his deed. In fact, more and more wealthy people are diversifying their assets jurisdictionally, i.e. depositing part of their wealth with foreign custodians and asset managers.

Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers (Nervous Nelly)

Customers need to rally and speak out against this and immediately move their money to smaller and local banks that will promise to give them good service and not rake them over the coals. We need diversity and competition within the banking system, not giant zombie banks endangering the world economy with derivatives and cheating their customers.

China's Dagong Downgrades US To A- From A (pinecarr)

To be sure a Chinese rating agency is just that, Chinese, and its opinions are rooted in nationalistic pride as much as S&P and Moody's AAA take on the housing bubble in 2005-2007 were rooted in mathematical logic, but the implications of this latest shot across the bow by the country which last weekend said the time has come to strip the dollar of its reserve currency status, are clear. And, at its core, Dagong is correct: because all the US really has done is kick the can for another three months, something the domestic rating agencies would also admit if they were not terrified of expressing the truth.

Could your education make you a risky borrower? (westcoastjan)

The authors surmise that “exposure to basic economic concepts may make students more comfortable with debt and increase their participation in the credit markets.” Essentially, taking on debt seems like less of a big deal once you know how it works.

The Folly Of Empire (westcoastjan)

“At times when the page is turning,” Louis-Ferdinand Céline wrote in “Castle to Castle,” “when History brings all the nuts together, opens its Epic Dance Halls! hats and heads in the whirlwind! Panties overboard!”

100 Women: The jobs Chinese girls just can't do (westcoastjan)

They're the envy of others at this school, since they belong to one of China's so-called "green card majors", courses that all but guarantee employment after graduation.

But this program has one clear entrance requirement: men only.

Put Down Your Smart Phone and Pick Up Your Heart Phone (westcoastjan)

Nature Appreciation is the root of the spiritual experience. Most temples, shrines and churches were built in places with incredible views and so many of our great religions were founded by people who sat for long times alone in nature. The Buddha sat under the Bodhi Tree to help reach enlightenment and Jesus went to the desert.

The Environmental Impact of the Government Shutdown (James S.)

The environmental agency also runs a federal program, Superfund, which was established to help clean up hazardous waste sites in America. Though the EPA has cleaned up tens of thousands of these toxic dumps over the past two decades there are still more than 800 Superfund sites across the nation today, and clean-up work on most has been halted due to the government shutdown. Cleaning can only continue for a few of the more severe sites, those deemed an imminent threat to the public.

Gold & Silver

Click to read the Gold & Silver Digest: 10/16/13

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."

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