Daily Digest

Image by Quim Pagans, Flickr Creative Commons

Daily Digest 7/31 - Argentina Goes Into Default, Milennial Purchasing Power Sits Idle

Thursday, July 31, 2014, 10:41 AM

Economy

Unable to reach deal with creditors, Argentina goes into default (Northernlights)

There will still be consequences, however, as it is expected to worsen an economy already in recession, weaken the currency as more Argentines seek to hold dollars and put pressure on foreign reserves. It could also raise soybean prices, as the country is the world’s third-largest soybean exporter.

Abstractly Represented Money: Introducing Metamoney (Mirelo Deugh Ausgam Valis)

Hence the name “fractional-reserve banking”: commercial banks must hold a fraction of all deposit money as reserves—which legally (since 1971) need no longer be “metallic money” but only a public debt—to meet withdrawal expectations: “Under current regulations, the reserve requirement against most transaction accounts is 10 percent.”

BlackBerry ups mobile security ante with Secusmart buy (Chris M.)

The Secusmart Security Card is the centerpiece of Secusmart's technology. The smart card is a mini-computer integrated into the micro-SD card. This system contains the NXP SmartMX P5CT072 crypto-controller with a PKI coprocessor for authentication. An additional high-speed coprocessor encrypts voice and data communication using 128 bit AES. The upshot: Text messages, emails, and voice communications are secure.

Welcome to the New Dark Age (June C.)

So it is evident that in reality there are relatively few parties � individuals and corporations - who care about the price of gold. For the vast majority of people in The West, the price of gold is of no concern whatsoever. Wealthy Chinese are buying gold, but they know better than to say anything about it, let alone complain about the low price.

Gold has been banished from everyday use, and can only be hoarded unproductively. Gold is going into hiding, as Professor Antal E. Fekete has pointed out.

Blacklight’s July 21, 2014 Third Public Demonstration (nimsdf)

On June 25th, BlackLight performed its second preannounced public demonstration of its breakthrough technology to a group of distinguished attendees that spanned the spectrum of professionals. Specific events included: ignition of H2O-based solid fuel, calorimetric energy balance determination, EUV spectroscopy of the hydrogen transitions to hydrinos, theory, technical, engineering, and commercialization presentations, BlackLight’s Electricity-Generation Demonstration of Automated Ignition System of Vibratory Conveyor-Fed H2O-Based Solid Fuel Powder, BlackLight’s Demonstration of Automated Ignition System of Auger-Fed H2O-Based Solid Fuel Powder that was repeated with Photovoltaic Conversion of Light to Electricity, and question and answer sessions with participation by two validators including a defense company licensee.

Purchasing Power Sits Idle in the Basement (Tyler K.)

It’s been six years since the financial crisis, and the latest research shows that we still have exceptionally high rates of multi-generational homes. Many of the problems that existed at the start of the financial crisis are still with us today, although maybe not to the same extent.

Employment is still difficult, but people are finding work. However, their level of compensation is still, on average, down by more than 7% from pre-crisis levels.

U.S. Judge Orders Seizure of Kurdish Oil from Tanker Off Texas Coast (James S.)

At the request of the government of Iraq, a U.S. judge has ordered the seizure of 1 million barrels of Kurdish crude oil from a tanker off the Texas coast near Galveston.

The oil had been pumped from wells in Iraq's northern Kurdish region, then sent via a new pipeline to Cehyan, on Turkey’s Mediterranean coast, before being loaded onto the tanker United Kalavrvta and shipped across the Atlantic Ocean to the Gulf of Mexico.

Investors Can Feast on Fertilizer Yields (Kevin J.)

There is one company that we don't officially cover, so I can only give general observations. That company is Allana Potash Corp., which has the Danakil project in Ethiopia. The company has published a bankable feasibility study, and now it's just a matter of securing funding. This is the biggest hurdle for junior fertilizer projects. Danakil's capital expenditures seem manageable at around $650 million ($650M). Allana has a key partner in Israel Chemicals Ltd., a top-seven global potash producer, which has a 16% equity stake and an offtake agreement.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/30/14

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."

6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4169
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4169
Puerto Rico Municipal Bankruptcy Proposed in U.S. House Bill

Puerto Rico Municipal Bankruptcy Proposed in U.S. House Bill

phecksel's picture
phecksel
Status: Silver Member (Offline)
Joined: May 24 2010
Posts: 204
Dark Ages link died

Dark Ages link died

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1632
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4169
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4169
California’s Exceptional Drought Just Keeps Getting Worse

California’s Exceptional Drought Just Keeps Getting Worse

iKFZSW3PCQz8.jpg

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments