Daily Digest

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Daily Digest 9/15 - The Consequences Of Fracking, Helping The Great Barrier Reef

Monday, September 15, 2014, 10:00 AM

Economy

Renmibi Is Already De Facto Reserve Currency (thc0655)

At the same time China has made it absolutely clear that they have no interest in making the renminbi the international reserve currency. They have observed in great detail the path that primary reserve currencies take and do not wish to see their once again burgeoning power in the world wane, as it did in the face of western industrialization.

New Peter Schiff debate on CNBC – Is QE doing more harm than good? (Herman J.)

“If you look at how much value the dollar has lost in purchasing power – certainly if you measure it against things like gold – yes, the dollar has gained a little bit in the last year or two, but over the last decade or so the dollar has lost a lot of value…”

Putting the current bear markets in Gold and Silver into a longer-term perspective (thc0655)

The weekly Gold chart is attempting to complete a 15+ month H&S failure pattern. A decisive close below 1240 will complete this chart configuration and indicate a possible target at low as 1040. HERESY! … the Gold bulls proclaim. It must be market manipulation — after all, the destiny for Gold is $5,000 per oz.

Large Majority of Americans Lack Confidence in Obama Mission to Destroy ISIS, Poll Shows (jdargis)

“The bottom line: The president has made his case to the American public, and like other presidents who faced war and peace issues, support usually follows,” said Democratic pollster Peter Hart, who helped conduct the survey. “The difference in this military encounter is that, right out of the box, Americans are skeptical if this will work.”

The poll also shows that 38 percent of voters approve of Obama’s job in handling foreign policy.

The Consequences Of Fracking: Two Clashing Views (James S.)

Rabinowitz, now at Pennsylvania’s University of Washington, surveyed 492 people in 180 households in Washington County, PA -- the heart of the Marcellus Shale. Thirty-nine percent of respondents living within 0.6 of a mile of a gas well reported sinus infections and nosebleeds, compared with 18 percent who said the same and lived more than twice as far away.

To Cook or Not To Cook: The Question of Advanced Glycation Endproducts (Eric G.)

Owing to the fact that dietary sources of AGEs are known to have health impacts, reducing our dietary intake of these compounds can have therapeutic value. Data is available on the AGE content of different foods prepared different ways, and, in general, dairy products, cooked meats, and foods containing processed, cooked grains contain the most AGEs, with fried meats – particularly bacon – containing the highest levels. Raw meats contain far lower levels of AGEs than cooked meats, although even raw meats have higher AGE contents than raw fruits and vegetables.

Extent of Antarctic sea ice reaches record levels, scientists say (Lesphelps)

"Thirty-five years ago the first satellites went up which were reliably telling us what area, two dimensional area, of sea ice was covered and we've never seen that before, that much area.

"That is roughly double the size of the Antarctic continent and about three times the size of Australia."

Wary of U.N. Action, Australia Unveils Plan to Aid Great Barrier Reef (jdargis)

The Australian environment minister, Greg Hunt, and Queensland’s environment and heritage protection minister, Andrew Powell, said the report issued Monday, Reef 2050 Long-Term Sustainability Plan, provided a framework for managing the reef that included monitoring turtle, coral trout and dugong populations and breeding, improving water quality and setting targets for substantial reductions in farm chemicals leaching into the waters of the Great Barrier Reef Marine Park.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/12/14

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

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 2033
Clear "market" intervention

During a period where the S&P was sliding badly,

....CBOE traders were told at 1027ET that the S&P 500 index was "currently unavailable for trading."  ...[T]his halted a drop in the market and instantly enabled a levitation to near the day's highs.

...but it then resumed its downward slide.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4237
Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2888
Saxplayer

List never gets shorter, does it? surprise

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Australian Real Estate.

Australians relying on 2% interest rates for their interest-only mortgages? I remember when it went to 17%.

Real Estate here is a pump-and-dump scheme. They lure naive punters in with low rates and then they force them out again with high rates. The banks get to keep the property.

Rinse and repeat.

bcassell's picture
bcassell
Status: Member (Offline)
Joined: Aug 23 2013
Posts: 5
David LIndsay's Book

I recently read David Lindsay's Book and found one of those obvious yet unknown facts.  In it he explains how the price of a property in Australia's smallest town (half way between Adelaide and Melbourne) is the same as the price of property in USAs 3rd largest city (Chicago).  A big HELLO for that. 

Two facts here: Australia is a very desirable country to live in; and banks will lend up to 9 times someone's income. 

But if these prices realign with the rest of the world, the owners of those mortgages will be stuffed. 

Everyone always goes back to comparing the prices of the largest cities of the world, well they are priced comparitively.  Its once you leave the main metro area of these cities that these interesting stats come up.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4237

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