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Daily Digest 12/30 - A Greek Revival of Anxiety, Gold Report's Best Of 2014

Tuesday, December 30, 2014, 10:33 AM

Economy

A Greek Revival of Anxiety, Some Say Without Foundation (jdargis)

But as the yields on benchmark Greek bonds soared and the Athens stock exchange plunged 4 percent, analysts remained divided as to whether the election of a new government with a mandate to reject years of forced austerity will signal a return to the dark days of the European debt crisis.

In a note published on Monday, Mujtaba Rahman, an analyst at the Eurasia Group in London, raised the prospect of contagion spreading from Greece to other reform-challenged economies in the eurozone like France and Italy.

Court restricts city's ability to seize homes used by drug dealers (thc0655)

e Commonwealth Court decision would establish sweeping new rules of evidence the city must meet if it is to prevail in some seizure cases. Those are cases involving parents or others who own homes used by drug dealers without the owners' knowledge or consent.

The Philadelphia District Attorney's Office has 30 days from the time of the Dec. 17 decision to appeal. The office did not respond to calls for comment on Monday.

The Gold Report’s Best of 2014 (Kevin J.)

David Morgan: "Money is important, but it needs to be put in the proper place. There is more to life than how much money you can make. Nature preaches balance and when things get out of balance, it has a way of bringing them back into equilibrium. This is most evident in the natural resource sector. We're acting as if the earth is income rather than capital. The result is that we are using up our base capital in the form of forests and water and metal and not replacing them. That is unsustainable. I'm afraid we are going to pay a high price for that. We need to live within our means rather than getting all we can. It's more about what you can contribute, maintain and sustain than who has the most toys."

Success of Kentucky’s Health Plan Comes With New Obstacles (jdargis)

“I am very, very thankful that Medicaid does cover what I need done right now,” said Ms. Mayhew, 38. “They ended up having to pull three teeth in the last three weeks, and I would have been in a lot of pain without it.”

But as the first year of coverage ends, potential obstacles to the law’s success are also coming into sharp relief here. Relatively few people have signed up for private health plans offered through the state’s new online marketplace, Kynect. People earning between 138 and 400 percent of the poverty level — between about $16,000 and $47,000 for a single person — can get subsidies to help with the cost.

Seeking to Ride on China’s Stock Market Highs (jdargis)

rdinary Chinese have been piling into the market at a pace not seen since 2007, before the financial crisis, in some cases pulling money from savings deposits or cashing out of property investments as they try to win big. Investors in Shanghai and Shenzhen opened nearly 900,000 new stock trading accounts in the week that ended Dec. 12 alone-, the most in seven years.

The Great Firewall keeps growing, as China blocks all Gmail access (jdargis)

The government started blocking the web version of Gmail in June of this year, around the 25th anniversary of the 1989 Tiananmen Square protests. The e-mail service was still available via third-party e-mail protocols like IMAP, SMTP, and POP3. Now it will be impossible to access Gmail from China at all without a tool that masks IP addresses, such as a VPN.

A Chinese Foreign Ministry spokeswoman said she had no knowledge of blocks.

Natural Gas Threatens U.S. Nuclear Future (Evan K.)

This will be an unhappy new year for Vernon, a small town in the state of Vermont. It is losing its economic mainstay. The owner of its proud, midsized nuclear plant, which has sustained the community for 42 years, Entergy, is closing the plant. Next year the only people working at the plant will be those shuttering it, taking out its fuel, securing it and beginning the process of turning it into a kind of tomb, a burial place for the hopes of a small town. What may be a tragedy for Vernon may also be a harbinger of a larger, multi-layered tragedy for the United States. Nuclear – Big Green – is one of the most potent tools we have in our battle to clean the air and arrest or ameliorate climate change over time. I've named it Big Green because that is what it is: Nuclear power plants produce huge quantities of absolutely carbon-free electricity.

Pope to push for action on climate change (jdargis)

For example, The Guardian notes that Cardinal George Pell, who is currently on staff at the Vatican, has frequently and publicly questioned our scientific understanding of climate. In a speech he gave to a UK think tank that questions the reality of anthropogenic climate change, he raised many of the tired, already-answered arguments that are features of the self-labelled "skeptic" community. (He also quotes some of the least reliable sources of climate information out there.)

There's also little indication that many Catholics actually follow their leadership on scientific matters. The church hierarchy has been nearly unanimous in its acceptance of evolution for decades, yet over a quarter of US Catholics continue to reject it.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/29/14

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."

5 Comments

pat the rat's picture
pat the rat
Status: Silver Member (Offline)
Joined: Nov 1 2011
Posts: 100
Greece to Europe

It looks like that Greece is ready to tell Europe , to go to hell!! I for one can not blame them. 

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 653
End of YEAR Prediction

NYTimes, Wed, 12/31: "Obama's Trade Chief, Undaunted by Odds, Pushes for a 12-Nation Deal," by Mark Landler and Jonathan Weisman.

IF Griffin and Prins are correct in their two books, both the Trans-Pacific Partnership AND the Trans-Atlantic Trade and Investment Partnership with Europe led by Michael Froman, of Citigroup, with over 1,500 meetings on Capitol Hill, will certainly be passed, despite large opposition, by the Money Trust or International Financial Elite in 2015 or shortly thereafter.  I'll keep you posted.

Another thought.  I'd like to see where the top 1,000 or more White House advisors/colleagues came from BEFORE joining the administration. I'd bet most would be from the BIG Banks.  Just curious.

Have a healthy and peak prosperity New Year!!   Ken

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Here is my prognostication

Here is my prognostication so that you all can wave it my face in a years time. My ego is under my control. (Deep philosophical question right there.)

  1. The USA surprises everyone and withdraws it's capital from the rest of the world in order to build their economy at home. There is a an economic boom. But sadly not for you Gladys. There is a further decoupling of the plutocrats from the umm, great unwashed, (That's you)
  2. Paper money is phased out and we go fully digital.
  3. Gold and silver lose their monetary value and become industrial metals.
  4. Robots and artificial intelligence continue their astounding progress and the first Quantum algorithms appear which are employed for self learning programs.
  5. There is a not-so-secret rush by the various militaries to harness Rossi's Hot Cat (Converts Lithium to Aluminum by some unexplained process.) Killer robots are seen to be the killer app.
  6. Further anomalous sightings are seen in the sky of UFOs.
  7. Battery storage continues to improve making electric vehicles more and more viable. But then they are superseded by Rossi's device. Other developments soon overtake Rossi when a reliable model is created for cold fusion, and he becomes a footnote.
  8. An attempt to implant chips in everyone meets with strong resistance, but is implemented anyway.  It transpires that there are means of switching off your digital account using the chip and that your every move can be recorded.
  9. Vast numbers of people die from malnutrition in the USA and around the world caused by GMO foods.
  10. H.Sap's already fragile breeding ability is further degraded by phytoestrogens, pollution and GMO's.
  11. The world's monetary system dies of ridiculousness
Jim H's picture
Jim H
Status: Diamond Member (Offline)
Joined: Jun 8 2009
Posts: 2379
LOL Arthur...

I am having trouble squaring these two;

11.  The world's monetary system dies of ridiculousness

I am not sure it dies in 2015... but for sure it is ridiculous

And then this from earlier in the list;

3. Gold and silver lose their monetary value and become industrial metals.

what exactly does take the place once the current (monetary) system dies?  I think the web of prognostications you have woven demands an answer to this question   : ) 

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Dave's reply.

Hi Dave,

I reason thusly- Money is a method of keeping score, therefore it is information. Paper and coins were an intermediate method between cowrie shells and digital.

So why not load all your personal information in an implantable chip until we can think of something better? I mean everything-ID-birth certificate- whatever-current financial statements. Everything could be read as you walk past various hotspots. Such as whenever you go near your computer, or the fire hydrant or where ever.

How clever is that? And then when you have been a naughty boy, appropriate adjustments to your account could be made automatically. What's not to like?

Of cause all these accounting methods are just models of reality. (As is Gold)

The rubber meats the road in another model- The Limits to Growth Report.

Read it and weep.

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