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Daily Digest 7/11 - A Growing Hush In China's Economy, Are Big Banks Suppressing Bullion Prices?

Saturday, July 11, 2015, 10:47 AM

Economy

Greece Financial Crisis Hits Poorest and Hungriest the Hardest (jdargis)

The European Parliament president, Martin Schulz, has said he shares Greeks’ concerns. President Jean-Claude Juncker of the European Commission said this past week that the European Union was making plans for humanitarian aid to Greece to cushion the blow if a third bailout was not worked out by Sunday and Greece was forced out of the euro system.

Are Big Banks Using Derivatives To Suppress Bullion Prices? (Kevin J.)

The circumstantial evidence is that the unregulated OTC derivatives in gold and silver are not really hedges to short positions in Comex but are themselves structured as an additional attack on precious metal prices.

If this supposition is correct, it indicates that seven years of bailing out the big banks that control the Federal Reserve and US Treasury at the expense of the US economy has threatened the US dollar to the extent that the dollar must be protected at all cost, including US regulatory tolerance of illegal activity to suppress gold and silver prices.

Gerald Celente: Greek Crisis, Gold and Geopolitics (Jonathan D.)

Gerald Celente is Publisher of the Trends Journal and he developed the Globalnomic® methodology to identify, track, forecast and manage trends. Unencumbered by political dogma, rigid ideology or conventional wisdom, Mr. Celente, whose motto is “think for yourself,” observes and analyzes the current events forming future trends for what they are — not for the way he wants them to be.

China, Greece and the NYSE: Black Swans or Red Flags? (Kevin J.)

Scary. That is the word that kept coming up over and over as the news came in this week. Greece technically defaulted. The Shanghai Composite index dropped some 30%. And then a computer glitch caused the NYSE to be down for three hours. Are these headlines just blips on the equities markets? Do they have long-term implications for resource stocks? To answer these questions, we did what we do best at The Gold Report and asked the experts what is causing all the black swans and what they are doing to protect their investments. -- Thoughts from John Mauldin, Harry Dent, Frank Holmes, Marin Katusa, and Chris Berry.

What it’s like to actually eat the food in Oakland County Jail (jdargis)

The cook-ups are a sort of potluck in which inmates pool ingredients purchased from commissary, which has a stock list similar to that of any crappy Eight Mile party store. But a party store offers better food than the Oakland County Jail cafeteria, and the cook-ups are essential. The "state" meals are painfully short on calories and taste, so each night we pile up mounds of junk food on chips or tortillas, creating sodium bombs packing the flavor and fill lacking on the state-issued trays.

Signs of a Growing Hush in China’s Economy (jdargis)

The more complex risk lies in whether China’s financial drubbing has created yet-unseen problems in the country’s vast array of structured products. Many were introduced over the last year, allowing investors to borrow large sums and control big blocks of stock.

The harm has so far been limited. The Chinese stock troubles have not prompted a global rout over concerns about a slowdown.

Airbus e-Fan electric plane successfully crosses the English Channel (jdargis)

: We are hearing that, under the cover of darkness last night, Hugues Duwal decided to cross the English Channel in his tiny Cri Cri electric plane. As we originally reported yesterday, another electric plane—the Pipistrel Alpha Electro—should've crossed the Channel as well, but the flight was reportedly blocked due to a dispute between the plane maker and Siemens (which made the electric motor in the Alpha Electro).

Scientists have discovered that living near trees is good for your health (Arthur Robey)

“Controlling for income, age and education, we found a significant independent effect of trees on the street on health,” said Marc Berman, a co-author of the study and also a psychologist at the University of Chicago. “It seemed like the effect was strongest for the public [trees]. Not to say the other trees don’t have an impact, but we found stronger effects for the trees on the street.”

Gold & Silver

Click to read the PM Daily Market Commentary: 7/9/15

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."

18 Comments

Arthur Robey's picture
Arthur Robey
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Food and Vanity.

By analyzing the microbes in each city’s sewage, the researchers could tell which(city) had an obesity problem, [Mithcell] Sogin [a molecular evolutionist at the Marine Biological Laboratory] says.

My addition.

http://eatlocalgrown.com/article/14760-bad-gut-bacteria-make-you-fat.htm...

I have joined a group on facebook dealing with fermentation. I had no idea about the depth of this eerm, culture.

Fermentation belongs to a wide range of Peoples. 

Michael_Rudmin's picture
Michael_Rudmin
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Fermentation and health

You have to be careful about fermentation. Some of it -- kefir , for example -- is pretty straight forward. However, kombucha, for example, is subject to colonization by aspergillis niger, the really deadly black mold; and if you think "just skimming the mold off the top" is fine, you're liable to give yourself liver or pancreatic cancer: 4 months of cancer, and dead.

Of course, the same is true for ALL forms of "getting back to nature". pick mushrooms, and get the wrong one (how about the false morel? The Norwegians eat that, but know how to prepare it WITHOUT BREATHING the hydrazine fumes. But it killed a friend of mine who thought a false morel button was a porcini).

Picking berries is fine, until you get the wrong one (some peppers are crossed with nightshade; some nightshade such as the Carolina Horse Nettle may be deadly to kids only. Honeysuckle, which kids suck, has a deadly toxin; they simply don't get enough of it, but the berries can kill.).

Fruit? Passionfruit: 3 leaves good, five leaves not-so good, poisonous at several stages.

Leaves? The pokeweed that the British ate made them crazy for a week, and only because it was well cooked and double-orained. Otherwise, it would simply have killed them.

Bugs all have their deadly poisonous varieties, though most are probably edible.

Maybe we should stick with prickly pear cactus pads? Turns out they do kidney damage; maybe there's a way to make them safe, but that isn't certain. The Aloe gel is healthy -- but the latex in the skin is quick to destroy kidneys too.

Milk is fine, unless your cattle get into snakeroot. Drink that milk, and you'll die of neurological damage. I think Mark Twain's wife died that way.

Hunt rabbits (beware the botfly larvae), and still you can die of nightshade poisoning if they -- who are immune to it -- have been eating it.

Even farming isn't so easy. Food storage mechanisms are critical.
It seems "natural culture" isn't all that easy. We developed ways to deal with these things as part of civilization.

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pinecarr
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On the Verge of Economic Upset | Michael Rivero (ENCORE)

A nice rendition of the "what happens (and is happening) to debt-based economies" story we are aware of here.  Interesting perspective on US history we are not taught at school. And an interesting discussion of what is going on now in the world.

Note: At the beginning there is an offer to click and subscribe to an info service or some-such thing.  Just wait a few seconds (10 or so) and it will go away, and the video will begin.

Published on Jul 7, 2015

​IN THIS INTERVIEW:
- We're on the verge of another economic upset, and it will be worse than in 2008

KugsCheese's picture
KugsCheese
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Re: Fermentation And Health

If your hunting dog won't eat it, maybe you shouldn't too.  

KugsCheese's picture
KugsCheese
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Unsecured Savings/Checking Account?

Will this unsecured party change apply to money market account too, and what about the hybrid money market/savings account?

Arthur Robey's picture
Arthur Robey
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aspergillis niger

Is a fascinating organism. 

Aspergillus niger growing from gold mining solution contained cyano metal complexes; such as gold, silver, copper iron and zinc. The fungus also plays a role in the solubilization of heavy metal sulfides.[9] Alkali treated Aspergillus niger binds to silver to 10% of dry weight. Silver biosorbtion occurs via stoichiometric exchange with Ca(II) and Mg(II) of the sorbent.

https://en.m.wikipedia.org/wiki/Aspergillus_niger

You live and learn.

Edit: Here is the Food Renegade website.

http://www.foodrenegade.com/the-basics/?mc_cid=f6702032f3&mc_eid=840ea00af9

Michael_Rudmin's picture
Michael_Rudmin
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So... looking at wikipedia seems to say Aspergillus niger...

... So, looking at wikipedia seems to say that Aspergillus niger isn't too bad, that it might be confused with another, more toxic mold...  BUT.... it does have the toxins that are claimed.

On the other hand, it is also undisputed that people can get systemic lung infections that are in fact deadly, and that there are incredibly high liver cancer rates among those who eat Kimchi, especially kimchi from which incidental mold has been scraped (and which kimchi is also subject to being colonized by Aspergillus niger.)

But on the other hand, some people make a drink out of it.

Whoa.

My thoughts on the matter?  Probably under certain conditions, the byproducts of A.N. are rather mundane... but under other conditions, they are extremely deadly.  Sounds dangerous to me.

I'm going to try to stay away from it.  People used to eat deadly Cortinarius in France, and die within a few years of kidney failure.  They believed it to be safe... it wasn't. 

 

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sand_puppy
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Does the government represent us?

Nope.

https://www.youtube.com/watch?feature=player_embedded&v=5tu32CCA_Ig

Have you ever felt like the government doesn’t really care what you think?

 

Professors Martin Gilens (Princeton University) and Benjamin I. Page (Northwestern University) looked at more than 20 years worth of data to answer a simple question: Does the government represent the people?

Their study took data from nearly 2000 public opinion surveys and compared it to the policies that ended up becoming law. In other words, they compared what the public wanted to what the government actually did. What they found was extremely unsettling: The opinions of 90% of Americans have essentially no impact at all.

 

Princeton University study: Public opinion has “near-zero” impact on U.S. law.

Gilens & Page found that the number of Americans for or against any idea has no impact on the likelihood that Congress will make it law.

 

“The preferences of the average American appear to have only a miniscule, near-zero, statistically non-significant impact upon public policy.”

One thing that does have an influence? Money. While the opinions of the bottom 90% of income earners in America have a “statistically non-significant impact,” Economic elites, business interests, and people who can afford lobbyists still carry major influence.

Nearly every issue we face as a nation is caught in the grip of corruption.

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saxplayer00o1
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China stocks gain for third day amid Beijing's intervention

"The Chinese government recently unveiled a flurry of major moves to curb the stock sell-off, including requesting all listed Chinese companies boost their stock price by share-buybacks, stock-incentive plans, employee stock-ownership plans, and other options. Meanwhile, China's police department has reportedly discovered evidence of "suspected malicious short-selling," with a special team having arrived in Shanghai at the end of last week to carry out the investigation, the state-run Xinhua News Agency reported Sunday."

Arthur Robey's picture
Arthur Robey
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Good find Sand Puppy.

A very long time ago we found that the will of the people is not an optional extra.

Kings and head honchos don't yield to the will of the people because they are nice guys who suddenly see the light. They yield because the alterative is just too unattractive. 

Arthur Robey's picture
Arthur Robey
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Treason

It has occurred to me that any Entity or person who wrests power from a democracy by whatever means, (including bribery and corruption) is in breach of our sovereignty,  and should be tried for Treason.

 

pinecarr's picture
pinecarr
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Greek debt crisis: deal reached after marathon all-night summit

From The Guardian (UK), "Greek debt crisis: deal reached after marathon all-night summit - live"

http://www.theguardian.com/business/live/2015/jul/12/greek-debt-crisis-eu-leaders-meeting-cancelled-no-deal-live

EU leaders have reached agreement that paves the way to a third Greek bailout, if Athens parliament approves tough austerity measures

We'll see if this sticks to the wall...

Arthur Robey's picture
Arthur Robey
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Traitors and cowards

In hindsight of cause they would hand the Greeks a barrow load of paper.

Why not? This reminds me of households being offered more debt against their homes. And more debt until, whoopsie, they have to vacate and hand in the keys.

Stay out of debt.

See my comment above.

I see that they managed to be very discrete about the nailgun.

Bankers Slave's picture
Bankers Slave
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In the Guardian

piece I only see picture samples of the scum of the earth. Sometimes I just wonder what is on the minds of the comfortable silent majority, when the evil doers get their way time and again!

thc0655's picture
thc0655
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Anti-freedom laws in Spain

http://www.armstrongeconomics.com/archives/34287

Spain has shown that it is fully on board with the Brussels authoritarian direction of ending democracy. Those in power have simply convinced themselves that the people do not understand what is good for them so they must impose their will upon the people but raw force. How does this differ in any what from the justification of imposing communism? This is the death of all freedom and it is upon our doorstep.

Here are the new laws in Spain:

1. If you photograph security personnel and then share these images on social media: up to €30.000 fine (particularly if photo exposes violence used against a member of the public). This fine could increase depending on the number of Instagram or social media followers you have. 
2. Tweet or retweet information or the “location of an organized protest” can now be interpreted as an act of terrorism as it incites others to “commit a crime” (now that “demonstrating” in many ways has become a crime). Sound “1984”-ish? Read about Orwell and his time in Spain. 

3. Snowden-like whistle blowing is now defined as an act of terrorism. If you write for a local publication, be careful what you print, whom you speak to, and whether the government is listening.

4. Visiting or consulting terrorist websites – even for investigative purposes – can be interpreted as an act of terrorism. Make sure you use “Tor” browser, reject cookies, and don’t allow pop-ups. Not to mention, don’t post it on your Facebook timeline!

5. Be careful with the royal jokes! Any satirical comment against the royal family is a new crime “against the Crown”. For example, “What did Leticia and the Bishop have to say after they ––“ (SORRY CENSORED).

6. No more hassling elected members of the government or local authorities – even if they say one thing in order to be elected, but then go and do the exact opposite. Confronting them about this hypocritical behavior. Even if you see them in the street chatting to a street cleaner, dining at their favorite expensive restaurant, or having their shoes shined by that physics graduate who cannot find a decent job in the country, hassling them about their behavior is now a criminal offence.

7. Has your local river been so polluted by that plastic factory along the edge that all life has extinguished? Well, tough! Greenpeace or similar protests are now finable from €601–€30.000.

8. Protests in a spontaneous way outside Parliament are now illegal. For example if Parliament passes a hugely unpopular bill, or are debating something extremely important to you or your community, it is now finable from €601 – €30.000. Tip: Use Google Maps to protest just around the corner – but don’t tweet the location!

9. Obstructing an officer in the course of their business, “resisting arrest”, refusing to leave a demonstration when told, or getting in the way of a swinging baton are all now finable offences from €601 – €30.000.

10. Showing lack of respect to officers of the law is an immediate fine of €100 – €600. Answering back, asking a disrespectful question, making a funny face, showing your bottom to an officer of the law, or telling him/her that their breath reminds you of your dog’s underparts is now, sadly, not advisable.

11. Occupying, squatting, or refusing to leave an office, business, bank or other place until your complaint has been heard as a protest is now a €100 – €600 fine (no more flash mobs).

12. Digital protests: Writing something that could technically “disturb the peace” is a now a crime. Bloggers beware, for no one has yet defined whose peace you could be disturbing.

Wendy S. Delmater's picture
Wendy S. Delmater
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does the goverment represent us?

My adult son and I were in DC and he saw that the license plates had the slogan, "Taxation without representation" (a slogan from the Revolutionary War). His comment? "They're bragging about it!"

Time2help's picture
Time2help
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Gettin' there...

Regarding the Anti-Freedom laws in Spain, this is what a sociopathic power structure does as it becomes increasingly terrified of it's populous.

Kris Kristofferson wrote:

Freedom's just another word for nothin' left to lose.

Edit: For some reason, Newton's third law comes to mind.

jgritter's picture
jgritter
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Broad Brush

As a member of "The Government" may I suggest that there may be a relationship between the size of the governmental body and the extent of the corruption.  I serve as a Trustee on the Village Council of the community of less then a thousand people in which I live.  The issue at the very local level doesn't seem to be one of corruption but of an almost total lack of interest on the part of the electorate.  In each of the pass four election cycles we have been unable to field a complete slate of candidates for only four contested seats.  In each case the uncontested seat was filled by a write-in candidate who has won with only 2 to 6 votes.

I don't think I'm being cynical or unfair when I say that, generally speaking, democracy is a rare and fragile thing that can survive only in a situation were the power vacuum is so complete that there is no one strong man who is able to lead, and the people are forced to govern themselves.  I think that, generally speaking, the people are happy to abdicate the chore of self determination in favor of the relative ease of being told what to do.  I think that rather then trying a despot for over throwing a democracy, the people should be tried for allowing it to be overthrown.  Rather then rage at the Plutocrats for buying the government, perhaps the blame is due with the people, who in there indolence and sloth, have surrendered the chore of sovereign self determination in favor of mindless self amusement.

I enjoy the voices on this site very much, and it is not my intention to be mindlessly contradictory, but I wonder if sometimes we act as an echo chamber for each other.  The evidence would seem to suggest that  very few are able to understand what is going on.  The majority of people in the larger world seem to be willfully, even militantly, ignorant.  History would seem to suggest it has always been that way.

John G

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