Daily Digest

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Daily Digest 11/23 - China To Stop Stockpiling U.S. Dollars, The Real Reason To Own Gold

Saturday, November 23, 2013, 12:23 PM

Economy

Mish Fined 8,000 Euros for Quoting French Blog (Thomas C.)

Société Générale took exception to the numbers and came up with its own set of numbers. According to SG, its leverage was 9.3%.

A day or so later, Chevallier redid his calculations and I added this addendum.

China Announces That It Is Going To Stop Stockpiling U.S. Dollars (Nervous Nelly)

For years, China has been systematically propping up the value of the U.S. dollar and keeping the value of the yuan artificially low. This has resulted in a massive flood of super cheap products from across the Pacific that U.S. consumers have been eagerly gobbling up.

China Announces That It Is Going To Stop Stockpiling U.S. Dollars (pinecarr)

For years, China has been systematically propping up the value of the U.S. dollar and keeping the value of the yuan artificially low. This has resulted in a massive flood of super cheap products from across the Pacific that U.S. consumers have been eagerly gobbling up.

Nicaragua canal boosts China power (pinecarr)

China's role in the development of this canal is partly about expanding its global trade. But it's also a way for China to push back against Washington's militarized "Pacific Pivot", as well as the US drive to establish a Trans-Pacific Strategic Economic Partnership (commonly shortened to Trans-Pacific Partnership, or TPP) that seeks to contain China's global economic growth.

N.S.A. Report Outlined Goals for More Power (jdargis)

Using sweeping language, the paper also outlined some of the agency’s other ambitions. They included defeating the cybersecurity practices of adversaries in order to acquire the data the agency needs from “anyone, anytime, anywhere.” The agency also said it would try to decrypt or bypass codes that keep communications secret by influencing “the global commercial encryption market through commercial relationships,” human spies and intelligence partners in other countries. It also talked of the need to “revolutionize” analysis of its vast collections of data to “radically increase operational impact.”

Aluminium: The metal that just keeps on giving (westcoastjan)

The soft, malleable metal's alter ego is aluminium oxide, which forms a skin on the pure metal the moment it is exposed to air (and makes it unlikely that an aircraft will catch fire).

The Real Reason To Own Gold (Thomas C.)

Another long-term forecast of the price of gold was put out by Edison Investment Research November Gold Report. In the report they forecast gold to hit $1,642 in 2015 and reach $2,070 by 2020. This may seem a great deal better than some of the other more bearish bank and brokerage forecasts such as Goldman Sachs who see gold falling to $1,050 by the end of next year.

Gold & Silver

Click to read the Gold & Silver Digest: 11/12/13

Provided daily by the Peak Prosperity Gold & Silver Group

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1 Comment

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
"Banks Swimming in Liquidity"

For your kind consideration.

(Beyond my ken.)

Podomatic.

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