Daily Digest

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Daily Digest 3/29 -Gold And Silver Are Money, Anxious Wait For Landslide News

Saturday, March 29, 2014, 12:43 PM

Economy

The World's Post-Crimea Power Blocs, Mapped (jdargis)

The vote gave Western countries a chance to demonstrate the unity they have sometimes lacked as the Crimean crisis has unfolded. Every European Union member state and most of its candidates for membership voted for the resolution, as did the entire memberships of NATO, the G-7, and the OECD, except for Israel.

JPMorgan defeats appeal in U.S. silver price-fixing lawsuit (hail)

In Thursday's order, a three-judge 2nd Circuit panel said it could not infer from allegations that JPMorgan took large and "uneconomic" short positions in silver that the bank intended to manipulate prices, or conspired with floor brokers to do so.

"An inference of intent cannot be drawn from the mere fact that JPMorgan had a strong short position," the panel said.

Bundesbank, PBOC Sign Accord to Make Frankfurt Yuan Hub (RW)

Germany’s financial capital prevailed over Paris and Luxembourg in a euro-area race to win trade in renminbi, which overtook the euro to become the second-most used currency in global trade finance in October, according to the Society for Worldwide Interbank Financial Telecommunication. The U.K. Treasury said on March 26 that the Bank of England would sign an initial agreement with the PBOC on March 31 to clear and settle yuan transactions in London.

China & Germany Sign Yuan-Settlement Pact And Obama Heads To Saudi Arabia (pinecarr)

I haven’t paid too much attention as of late to agreements between China and other nations intended to expand the use of the yuan (renminbi) internationally, because the near-term implications always seem to be exaggerated by many market commentators. That said, this deal between the People’s Bank of China (PBOC) and Germany’s Bundesbank seems quite significant given the importance of Germany within the global economy generally and the E.U. specifically.

Gold And Silver Are Money (Taki T.)

If you ask most people if they know that fiat currency has no value, they will agree. Yet, those very same people continue to use the intrinsically worthless paper as though it actually had value! In other words, people are willing to imagine the worthless fiat has the [lack of]value the issuing central bank says it does. The kicker is, everyone who uses fiat-with-no-intrinsic-value is a smart person.

Whether inflation or deflation – financial chaos is certain: Doug Casey (Herman J.)

When asked if inflation or deflation will reign supreme, his answer is yes, either way financial chaos will ensue as the great recession of 2008-2009 resumes with gusto.

Earthquake Rattles Los Angeles Area (jdargis)

The physical toll was still being assessed late Friday. The Los Angeles Fire Department said there were no immediate reports of significant damage, but there were scattered reports of power outages, water main breaks and gas leaks in La Habra and surrounding cities. Homeowners and businesses reported broken windows and goods damaged after falling off shelves.

Police in Brea reported minor injuries after a rockslide in Carbon Canyon caused a car to overturn.

Anxious Wait for News Days After Deadly Landslide (jdargis)

“There’s families that are up there and there’s volunteers up there that are saying, ‘Yes, we’re finding people,’ ” said Travis Hots, a district fire chief in Snohomish County. But he added that the county’s medical examiner was still working through the steps of formally identifying victims and notifying family members, and that the process would be respected, even if it meant delays in getting word out.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/28/14

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."

2 Comments

Time2help's picture
Time2help
Status: Diamond Member (Online)
Joined: Jun 9 2011
Posts: 2766
Ready to massive nuclear strike (drill)

Here's an interesting one:  http://www.ng.ru/armies/2014-03-26/6_strike.html

"Ready to massive nuclear strike. Began a scale teaching Strategic Missile Forces"

You might need to translate it via the web.  I'm having trouble posting the translation directly to PP (odd).

 

 

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2237
Re: Ready To Massive Nuclear Strike (Drill)

Hi T2H-

   Here is another article (I think) on the same topic you posted on, this one on ZH (English), @ http://www.zerohedge.com/news/2014-03-29/russias-military-begins-massive-nuclear-war-drill

While much Western attention has been bestowed on Russia’s military buildup near Ukraine, Moscow also began a massive nuclear offensive exercise on Thursday.

According to the Russian daily Nezavisimaya Gazetaon Thursday Russia’s Strategic Missile Forces began a massive three-day exercise involving 10,000 soldiers and 1,000 pieces of equipment from more than 30 units. The major purpose of the drill, according to the report—which cites multiple senior Russian military officers—is to ensure Russia’s Strategic Missile Forces have sufficient readiness to conduct offensive operations involving the massive and simultaneous use of nuclear missiles.

    Greaaaat....

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