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Daily Digest 12/8 - How To Limit Your Normalcy Bias, Can Bitcoins Rebuild The FInancial System?

Sunday, December 8, 2013, 1:00 PM

Economy

Can Bitcoins Rebuild The Financial System? (Chris F.)

Bitcoins are created through the ‘’mining process’’. Mining means providing computer power to solve complex algorithms. The reward for the miners is a block of 25 Bitcoins. The total number of Bitcoins that will be issued is limited to 21million Bitcoin; there is currently 12 million Bitcoin in circulation (already created). Whereas there the US government reported statistic M2 (M1 supply, plus all of the money held in money market funds, savings accounts, and certificates of deposits (CDs) under $100,000.) in August 2013 was about $10.77 trillion [source: Federal Reserve].

Shell's LNG-Producing Monster Ship, Prelude (HughK)

On Geoje Island, off the coast of South Korea, as many as 5,000 workers have been building the largest vessel ever constructed. With a deck the size of seven football fields and containing three times as much steel as the Golden Gate Bridge, the Prelude will spend years anchored above a natural gas field off Australia, pumping fuel from under the seabed and turning it into a liquid that can be shipped to Asian customers.

How To Limit Your Normalcy Bias (Jim R.)

At the start of the curve, the environment presents certain information and we become more sensitive to it and other related items.Example: If we hear the word hamburger we are more sensitive to works like ketchup, bread and MacDonalds. If you are reading about the stock market, a reminder that you needed to sell a particular stock pops in your head. When the same nerve keeps getting stimulated time and time again we loose sensitivity to the subject. When people live next to a busy road they do not listen to the traffic anymore.

Ghost Of 1929 Re-Appears - Pay Attention To The Signals (pinecarr)

"...the stock market is right now tracing out a pattern eerily similar to the lead up to the infamous 1929 market crash. The pattern, illustrated by Tom McClellan of the McClellan Market Report, and brought to his attention by well-known chart diviner Tom Demark, is shown below."

Eric Sprott Interview (pinecarr)

Eric has over 40 years of experience in the investment industry and manages over $8 billion. He has been stunningly accurate in his writings for over a decade, and is one of the most respected industry professionals who accurately foresaw the current crisis. Eric chronicled the dangers of excessive leverage as well as the bubbles the Fed was creating, while correctly forecasting the tragic collapse. Sprott Asset Management is one of the top firms in the world. The firm has become well known not only for its performance, but also for creating a gold and now silver trust.

Grant Williams Interview (adam)

Grant Williams is the portfolio manager of the Vulpes Precious Metals Fund and strategy advisor to Vulpes Investment Management in Singapore. Grant has 28 years of experience in finance on the Asian, Australian, European and US markets and has held senior positions at several international investment houses, including Robert Fleming, UBS and Credit Suisse. Since 2009, he has also been writing the popular investment newsletter Things That Make You Go Hmmm...

America in Worse Fiscal Shape than Detroit (pinecarr)

Never in the history of this country have this many top economists from all political persuasions endorsed a piece of legislation like this.” Dr. Kotlikoff and his fellow economists all contend, “The country needs to do honest accounting.” The professor charges the government is “disguising the true problem.” Dr. Kotlikoff says, “The government is printing mountains of money to pay its bills. The Fed is printing 29 cents of every dollar that Uncle Sam is spending.” What happens if this continues? Dr. Kotlikoff says, “Eventually somebody recognizes this and starts dumping the bonds, and interest rates go up, and inflation takes off, and were off to the races.” In closing, Dr. Kotlikoff warns, “This is going to crash, but there are different ways for cancer to kill you. It can be very gradual . . . or it can attack some organ and you can die overnight. Either of those outcomes can happen.” Join Greg Hunter as he goes One-on-One with Professor Laurence Kotlikoff.

8 Ridiculously Cheap Superfoods Less Than $1 Per Serving (westcoastjan)

Beans -- of any variety -- are loaded with filling fiber, which protects the heart. They've also got a hearty dose of protein: about as much as an ounce of meat in just half a cup, according to the American Diabetes Association. And when eaten with a grain, they're considered a complete protein.

Scientists discover vast undersea freshwater reserves (Arthur Robey)

The volume of this water resource is a hundred times greater than the amount we've extracted from the Earth's sub-surface in the past century since 1900," said Post of the study, published in the latest edition of Nature.

"Freshwater on our planet is increasingly under stress and strain so the discovery of significant new stores off the coast is very exciting.

The True Cost Of Living Off The Grid (outlive)

Wondering how much it would cost to live off the grid?

Gold & Silver

Click to read the PM Daily Market Commentary: 12/6/13

Provided daily by the Peak Prosperity Gold & Silver Group

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