Daily Digest

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Daily Digest 6/14 - A Hard Road For Health Insurance, Rich Californians Balk At Water Limits

Sunday, June 14, 2015, 12:08 PM

Economy

Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable" (pinecarr)

“We are not talking Fort Knox. But when I first announced this, I got so many emails and phone calls from people literally all over the world who said they want to store their gold … in a Texas depository. People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold.”

But isn’t New York, where most of the world’s gold is stored, also big and powerful? Why does the state of Texas want to go through the trouble of building its own storage facility?

A Hard Road For Health Insurance (jdargis)

The New York Times started following Mr. Elson in Louisville, Ky., in the months before the law’s new insurance marketplaces opened. Kentucky was the only Southern state to both expand Medicaid for low-income residents and open its own marketplace where others could buy private coverage, often with financial assistance. Would David Elson finally get health insurance, and would his life change as a result?

Greek Talks Seek Agreement as Germany Warns of Euro Exit (jdargis)

Representatives of the International Monetary Fund, the European Central Bank and the European Stability Mechanism are waiting in the wings to join the negotiations if progress is made between Greece’s envoy and Juncker’s chief of staff. The aim is to reach a deal before markets open on Monday, the EU official said.

Trade Deal’s Setback Left Wall Street Unmoved. Why? (jdargis)

Yet when the surprise vote failed, not only did the stock market as a whole barely react, but the stock prices of large American pharmaceutical companies — the most obvious beneficiaries of these proposals — also remained largely unchanged.

The Hacking of Federal Data Is Much Worse Than It First Seemed (jdargis)

This not only means that the hackers may have troves of personal data about Americans with highly sensitive jobs, but also that contacts or family members of American intelligence employees living abroad could potentially be targeted for coercion. At its worst, this cyberbreach also provides a basic roster of every American with a security clearance.

How Walmart Persuades Its Workers Not to Unionize (jdargis)

Early last year, Anonymous, a network of hacker activists, leaked two internal Walmart PowerPoint slideshows. One was a “Labor Relations Training” presentation for store managers that echoed the “Manager’s Toolbox” in suggesting that unions were money-grubbing outfits caring little about workers’ welfare. “Unions are a business, not a club or social organization—they want associates’ money,” the PowerPoint read. (Walmart confirmed the PowerPoints’ authenticity.) “Unions spend members’ dues money on things other than representing them,” it added.

Rich Californians balk at limits: ‘We’re not all equal when it comes to water' (jdargis)

People “should not be forced to live on property with brown lawns, golf on brown courses or apologize for wanting their gardens to be beautiful,” Yuhas fumed recently on social media. “We pay significant property taxes based on where we live,” he added in an interview. “And, no, we’re not all equal when it comes to water.”

US egg prices took their highest monthly jump ever in May (jdargis)

Iowa and Minnesota have taken some of the biggest hits from avian flu, but the outbreak has spread far beyond those two major egg-producing states, all the way to California, Oregon and Washington on the West Coast. It has yet to hit the East Coast, but in North Carolina—which has an $18 billion poultry industry—officials are already taking precautionary measures, including banning all poultry shows and public sales scheduled for mid-August to mid-January, ABC reported.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/12/15

Provided daily by the Peak Prosperity Gold & Silver Group

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1 Comment

bobwise32952's picture
bobwise32952
Status: Member (Offline)
Joined: Jan 19 2010
Posts: 9
Texas Gold Depository

Although Texas politics can be far out, this news heightens my concern about the possibility of hyperinflation.

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