Daily Digest

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Daily Digest 1/23 - Trouble for the 'Brazilian Miracle', New Investor Warnings

Thursday, January 23, 2014, 11:18 AM


Kelly McParland: I don’t worry about Edward Snowden. It’s Google that scares me (westcoastjan)

It’s the principle that counts, right? The government shouldn’t be intruding on private affairs, or traipsing through the personal communications of its citizens. End of story.

Presenting James G. Rickards; economist, lawyer. entrepreneur. (westcoastjan)

In this January 2014 Matterhorn Interview , Jim Rickards talks to German investigative journalist Last Schall. Jim is the author of bestseller Currency Wars and soon to be released sequel The Death of Money.
The brilliant economist, lawyer and entrepreneur Jim Rickards is again in very good form in this podcast as he discusses the failure of the Fed, as well as the Fed’s suppression of gold. He explains why gold must rise to at least $7,000 – $10,000. Rickards also discusses China’s gold purchases and that the people with the most gold will have the most to say in regard to a new monetary system.

Argentina restricts online shopping as foreign reserves drop (westcoastjan)

The government of President Cristina Fernandez de Kirchner has introduced a number of restrictions on transactions with foreign currency.

Items imported through websites such as Amazon and eBay are no longer delivered to people's home addresses. The parcels need to be collected from the customs office.

Trouble for the 'Brazilian Miracle' (westcoastjan)

The wave of protests was sparked by the waste of public funds in preparation for the 2014 World Cup. But they express a more profound feeling of discontent. People are fed up with corruption and impunity. They want better public services, especially in health, education and public transportation. They also want to participate and are calling for institutional reforms. The vast majority of the protesters were peaceful. However a small but vocal and aggressive minority of radical groups, as the so-called Black Block with its anarchist symbols and destructive behavior, have resorted to the systematic use of violence as the means to discredit any and all public institutions.

China injects fresh cash into banks (westcoastjan)

The seven-day repurchase rate, a key gauge of liquidity among banks, rose to nearly 6.5% on Monday, up from 4% earlier this month.

The People's Bank of China (PBOC) said it had injected the funds via short-term liquidity operations on Monday.

US to shrink size of its army by using remote-controlled robots (westcoastjan)

Generals are studying proposals as the US Army is to slim down from 540,000 to about 490,000 soldiers by the end of next year. Some reports suggest it could dip below 450,000 by the end of the decade.

In response, Gen Robert Cone, head of the army's training and doctrine command, is considering shrinking the army’s brigade combat teams from about 4,000 soldiers to 3,000 and using more robots, according to Defense News, a US military magazine.

Invasion of Spanish Builders Angers France Struggling to Compete (westcoastjan)

The losing French bidders are crying foul, saying the Spanish pay lower wages and cut corners on regulations. The Spanish, fleeing a construction slump and an unemployment rate of 26 percent at home, say they’re just using European Union rules allowing free movement of businesses and workers. The French builders’ inability to stop their Spanish counterparts from wresting business away highlights President Francois Hollande’s uphill battle to make France more competitive.

New Warnings From an Investing Pioneer (westcoastjan)

As he likes to say, “If the choice is between being first and being best, being first is better.” Mr. LeBaron founded Batterymarch Financial ManagementLM -2.88% in Boston in 1969, investing mainly in small-company stocks, an opportunity almost nobody else was yet interested in. Batterymarch also pioneered quantitative investing, which uses statistical analysis–not human judgment–to pick stocks. In the 1970s, he says, every employee at the firm had three computers: “We had 90 machines when many firms didn’t have one.”

Naked Gold Shorts: The Inside Story of Gold Price Manipulation (capesurvivor)

The evidence of gold price manipulation is clear. In this article we present evidence and describe the process. We conclude that ability to manipulate the gold price is disappearing as physical gold moves from New York and London to Asia, leaving the West with paper claims to gold that greatly exceed the available supply.

HSBC won't give me more than £1k over the counter even after I warned them I needed it – can they block me from my own cash? (Thomas C.)

I understand you feeling that it’s your money and that you should be able to have access to it how you see fit.
But I can also understand HSBC doing what it can to prevent fraud – there has been a rise in the number of sophisticated scams duping people out of their money in recent times.

UK House Prices vs Earnings, Immigration, Public Spending, Unemployment and Housing Market Affordability (Adam)

The persistent lack of apparent housing market affordability has encouraged many academic economists and journalists to warn of falling earnings against rising house prices as a fundamental reason why house price rises are unsustainable as obviously people just do not have enough money to finance house purchase costs such as mortgage payments as prices rise, and thus deflation is always deemed to be just around the corner.

Where We Are At In the Global Precious Metals Markets - A Framework (Thomas C.)

Forces similar to those that are working against the EU monetary union, without a comprehensive political union, are working against the dollar global reserve currency, on a much larger and slower paced scale. This is why a global currency issued and controlled by one central entity tends to presume a one world governance, or at least a cohesive governance of a rather large piece of it. It is not incidental to their financial goals.

Mexican Citizens Topple Cartels And Are Rewarded With Government Retaliation (sand_puppy)

Michoacan, like most of Mexico, has long been overrun with violent drug cartels that terrorized private citizens while Mexican authorities did little to nothing in response. I could easily cite the abject corruption of the Mexican government as the primary culprit in the continued dominance of cartel culture. I could also point out the longtime involvement of the CIA in drug trafficking in Mexico and its negative effects on the overall social development of the nation. This is not conspiracy theory, but openly recognized fact.

Surveillance and Scandal: Time-Tested Weapons for US Global Power (westcoastjan)

For well over a century, from the pacification of the Philippines in 1898 to trade negotiations with the European Union today, surveillance and its kissing cousins, scandal and scurrilous information, have been key weapons in Washington’s search for global dominion. Not surprisingly, in a post-9/11 bipartisan exercise of executive power, George W. Bush and Barack Obama have presided over building the NSA step by secret step into a digital panopticon designed to monitor the communications of every American and foreign leaders worldwide.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/22/14

Provided daily by the Peak Prosperity Gold & Silver Group

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