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Daily Digest 8/15 - Europe In Crisis, Humans Won’t Survive Next Mass Extinction

Saturday, August 15, 2015, 11:58 AM

Economy

Europe in crisis: everyone from Putin to ordinary savers is stockpiling gold (locksmithuk)

The increase in Europe was led by Germany, where sales of bars and coins rose 24pc to 24.1 tonnes in the second quarter. Demand in Austria and Switzerland also rose sharply, according to the WGC's quarterly trends report.

Dr. McHugh’s Work Says, “This is it!” (Adam)

No doubt that will seem a bit extreme and I pray that it is. But the reallocation of wealth, thanks to fiat money, is well underway now over the past 45 years and the wheels on the wagon have not yet even fallen off. They came ever so close to doing so in 2008-09. But by injecting massively more heroine into the veins of our economy, policymakers have managed to keep the patient feeling relatively well while continuing to destroy society’s vital organs. The vital organ that enabled the West to gain its standard of living was capitalism. But that vital organ of our society is being destroyed with massive pain-killing QE. With each dose, we come that much closer to the world that both Dr. McHugh and Robert Prechter have been warning us about.

Senators re-introduce bill with Glass-Steagall protections (Wendy SD)

Sens. Elizabeth Warren (D-Mass.), John McCain (R-Ariz.), Maria Cantwell (D-Wash.) and Angus King (I-Maine) have re-introduced what they call the “21st Century Glass-Steagall Act,” a bill that would reintroduce the separation between commercial and investment banking. The bill is aimed at “reduc[ing] risks to the financial system by limiting banks’ ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.”

Locked in Solitary at 14: Adult Jails Isolate Youths Despite Risk (jdargis)

Solitary confinement has long been a feature of the nation’s criminal justice system, either to punish or protect inmates, with about 75,000 state and federal prisoners in solitary across the country. Ke’jorium, though, is emblematic of a more select and far less visible group of prisoners in solitary — children or teenagers in isolation in adult jails for their own safety.

Study: Brazil Offshore Subsalt Holds 176 Billion Barrels Of Oil, Gas (travissidelinger)

Taken individually, the average size of undiscovered fields within the Subsalt Polygon is 246 million boe, according to the 2015 study's most conservative estimate.

Recoverable resources are exploitable using current technology, but may not be viable depending on the price of oil, the cost of equipment and the financial health of the companies that own the rights to produce them. Resources can only become reserves if they economically exploitable.

World without Water: The Dangerous Misuse of Our Most Valuable Resource (westcoastjan)

California's rivers and lakes are running dry, but its deep aquifers are also rapidly disappearing. The majority of the 40 million Californians are already drawing on this last reserve of water, and they are doing so with such intensity and without restriction that sometimes the ground sinks beneath their feet. The underground reservoir collapses. This in turn destabilizes bridges and damages irrigation canals and roads.

Humans won’t survive next mass extinction – scientists (Aaron M.)

“The fact that the insurance against extinction given by a wide geographic distribution disappears at a known mass extinction event is an important result. Many groups of crocodile-like animals become extinct after the mass extinction event at the end of the Triassic era, despite being really diverse and widespread beforehand. In contrast, the dinosaurs which were comparatively rare and not as widespread pass through the extinction event and go on to dominate terrestrial ecosystems for the next 150 million years,” Dunhill said.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/14/15

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."

12 Comments

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 656
Escaping to another country?

Think again.  What the hell is going on here??

These alarming new passport laws are being snuck through Congress right now

From Daniel McAdams at The Ron Paul Institute for Peace and Prosperity:

Just the other day we wrote about a U.S. House “suspension” bill that would give the Secretary of State the authority to cancel your passport if he decided that you had “aided” an organization that he rules is terrorist.

There is no definition of what “aided” means, no chance to dispute the Secretary’s decision, no trial or presentation of evidence, and in fact any evidence the government has can be classified as secret so that you may not see it. In effect the Secretary of State can unilaterally consign you to internal exile and there is nothing you can do about it.

Because Members of the U.S. House were too cowardly to go on record voting for such an anti-American piece of legislation, the bill passed by a voice vote.

Today the U.S. Senate plans to one-up its counterparts on the lowlier side of Capitol Hill. Buried inside the U.S. highways funding bill is a provision to revoke or deny issuance of a U.S. passport to anyone who has a large outstanding tax debt to the U.S. Internal Revenue Service. According to a Senate Finance Committee summary (PDF) acquired today, the measure provides for:

Revocation or denial of passport in case of certain unpaid taxes. This provision would authorize the Federal government to deny the application for a passport when an individual has more than $50,000 (indexed for inflation) of unpaid federal taxes which the IRS is collecting through enforcement action. It would also permit the Federal government to revoke a passport for such individuals. Before revocation, however, the Federal government would be allowed to limit a previously issued passport only for return travel to the United States or to issue a limited passport that only permits return travel to the United States. The provision would be effective on January 1, 2016, and is estimated to raise $0.398 billion over 10 years.

As can be seen from the summary, this measure threatening to imprison Americans within (or outside) U.S. borders is simply viewed as a means by which to raise revenue. The hoped-for increase in revenue coming from this threat is considered an “offset” to the money being spent on the highway bill — in other words the threat to imprison US citizens within their own country or freeze them out is considered appropriate incentive to force them to pay what the government claims it is owed.

Unconvinced that the US government would do such a thing? Check the bill coming to the Senate Floor. Section 52102 of the Highway Funding bill, to be taken up by the Senate today, states:

If the Secretary receives certification by the Commissioner of Internal Revenue that any individual has a seriously delinquent tax debt in an amount in excess of $50,000, the Secretary shall transmit such certification to the Secretary of State for action with respect to denial, revocation, or limitation of a passport pursuant to section 52102(d) of the Transportation Funding Act of 2015.

Tax “deadbeats” will be either denied entry into the United States or forbidden from leaving the United States.

The use of citizenship rights as a weapon against Americans is becoming increasingly common as Washington is ever more desperate for control of its passport holders.

 





The last time Ron Paul ran for president, the mainstream media ridiculed him for claiming that U.S. government’s border control strategy is most likely designed to keep Americans from leaving the country rather than to keep illegals from entering. These two measures within a week’s time pretty clearly confirm what was once laughed off as a “paranoid” view that the U.S. government was building a virtual Berlin Wall to keep its citizens from departing.

 

Perhaps that is why this year a record number of Americans are renouncing their passports and getting out of the country… while they still can.

 

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 656
NYTimes Sunday Magazine: The Bail Trap

Crucial reading.  Just thank Quantum Consciousness that you are not Black or Brown!! or poor!!!

Imagine one of the ultra wealthy setting up a Foundation for Bail Assistance, hiring someone to be there to dispense bail money as needed to innocent folk.

Could PP.com members help establish such a foundation?

 

  1. 16bail4-thumbStandard.jpg

    The Bail Trap

    store. With a record like that, Stocking told her client, the district attorney’s office would most likely ask the judge to set bail, and there was a good chance that the judge would do it. If Tomlin couldn’t come up with the

 

Trun87114's picture
Trun87114
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Joined: Apr 28 2013
Posts: 80
World Without Water

Outstanding Der Speigel article linked here that provides a very comprehensive and global perspective on the ever increasing shortages of clean water.  I must say, as an American, I am rather embarrassed at my country's apparent ignorance of the problem.  (We recycle a measly 1% of our water.  by comparison, Israel recycles 86%.)  At least, I hope it's ignorance.  If not, then our collective unwillingness to address the problem is very disturbing.

I just finished Water Knife, by Paulo Bacigalupi, and although it's fiction it paints a frightening and realistic picture of where North America may be headed.  

I try to minimize my personal "contribution" to our three E related problems as much as practically can but I did purchase a home a few years ago out here in the Western US, where drought is already a problem.  I'd love to install a grey water recycling system in my house but I'm not sure where to start.  Has anyone installed one?

T.

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Not a good project to try on your own

Trun- IF greywater systems are allowed in your area- use or at least consult with a knowledgeable plumber. This is a process that is easy to screw up resulting in grey water contamination of your own drinking water - or if on a public system- other's drinking water.

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
An alternative

Some people keep buckets under their sink or in the shower, then carry the buckets out to water plants that you wish to irrigate. Be careful with greywater which may contain microbial pathogens- avoid contamination of food crops eaten raw such as lettuce.

Trun87114's picture
Trun87114
Status: Bronze Member (Offline)
Joined: Apr 28 2013
Posts: 80
Grey Water

Thanks, Tall.

I'm on a well and septic so no chance of messing up others' water.  But I certainly don't want to mess up my own!  Nor do I want to contaminate my garden.  I do have a 5-gal bucket that I keep in the shower.  I use it to capture the water from the shower head as it's warming up and then use that water to flush the toilet. I've also xeriscaped my front yard.  But I still use a good bit of water and it just rubs me the wrong way that we all use crystal clear, potable water to flush our toilets!

i may call a plumber but I imagine that a) most of them will not have experience with this, b) want to charge me a fortune, and c) think I'm nuts!

If anyone else has any low hanging fruit on this topic, like the bucket idea, I'm all ears.

T.

earthwise's picture
earthwise
Status: Platinum Member (Offline)
Joined: Aug 10 2009
Posts: 848
Grey Water Guru

This is the go-to guy for grey water IMHO: Art Ludwig /http://oasisdesign.net/

When I built my So California house back in 1999, I followed his advice and segregated my "black" water (toilets etc.) plumbing from grey water plumbing. That's the key to using grey water effectively, and if done so, it can be safely used very easily. The grey water is then distributed through a "branched drain system". Even though I have a well on my land, I still don't waste a drop of water.

An alternative would be to employ a septic tank aeration system, like this one. The idea is to blow an air stream through a diffuser into your septic tank. This promotes the growth of aerobic bacteria instead of the normal anaerobic bacteria typically found in septic tanks. The aerobic is much more aggressive in breaking down solids and turns the effluent crystal clear, which can then be diverted to irrigation purposes. Such systems have already been approved in some states like New Mexico and Arizona.

 

Hope that helps.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4238
Problems for China’s economy extend far beyond currency

 

"So far the government has employed targeted stimulus in the form of fiscal spending on infrastructure, while resisting pressure to unleash a wave of lending from commercial banks to the manufacturing sector, as in 2008. That stimulus plan led to a quadrupling of China’s economy-wide debt from $7tn in 2007 to $28tn by mid-2014, equivalent to 282 per cent of GDP. But if the job market continues to worsen, pressure for drastic measures will increase. "

The country set an all-time record when its national debt reached 2.2 trillion euros ($2.4 trillion) in May. The figures for June showed a small drop (the overall debt remains above 2.2 trillion euros), but that was mostly due to lower borrowing costs. With a higher-than-usual number of bonds having come due in July, economists say new record debt levels will be set between now and the end of the year.

"The economy expanded 6.3 percent in the first half, compared to the officially reported 7 percent, according to the median estimate of 11 economists surveyed last week. For the full year, a 6.6 percent pace was the median forecast of respondents, who were asked to nominate real growth rates, not what they expect the official data to show. "

"In quarterly conference calls, U.S. executives recited a litany of pain resulting from a slowdown in China’s economy"

"The currency slid 3.8 percent against the dollar last week as central bank Governor Zeti Akhtar Aziz said Thursday foreign-exchange reserves will need to be rebuilt after they fell below $100 billion for the first time since 2010. She ruled out introducing a currency peg or capital controls, the solutions Malaysia turned to 17 years ago when faced with a tumbling exchange rate. Mahathir blamed foreign investors for the demise of the ringgit and labeled Soros a “moron” for his part in it."

"China's currency devaluation is not the end of the matter. And nor its recent stock market mayhem. They are clear symptoms of a deeply troubled world economy, and investors need to wake up to the risk that market jitters will get a lot more serious in coming months.

Another global economic crisis looms and there are no circuit breakers left to stop it.

World policymakers have run out of conventional remedies and quantitative easing infusions are having less effect. If China is a barometer of heavy weather ahead, then welcome to the bear market.

China is clearly feeling the pinch as leading economic indicators show a steep decline. As a global export powerhouse, it is feeling early warning signs of a global downturn. Exports have fallen 8.3 per cent year on year, no surprise considering world trade is languishing 13.6 per cent lower than a year ago.

Global economic confidence has been heavily sideswiped by a number of adverse factors. The impending US rate tightening, Greek debt crisis, trade sanctions on Russia and rising tensions in the Middle East have all hurt growth prospects. Worries about a slowdown in China simply add to the gloom."

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4238
Doomsday clock for global market crash strikes one minute to mid

"4 - Dominoes begin to fall

The great props to the world economy are now beginning to fall. China is going into reverse. And the emerging markets that consumed so many of our products are crippled by currency devaluation. The famed Brics of Brazil, Russia, India, China and South Africa, to whom the West was supposed to pass on the torch of economic growth, are in varying states of disarray.

The central banks are rapidly losing control. The Chinese stock market has already crashed and disaster was only averted by the government buying billions of shares. Stock markets in Greece are in turmoil as the economy grinds to a halt and the country flirts with ejection from the eurozone."
 

The mushroom cloud of the first test of a hydrogen bomb

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1469
Re: World without Water: The Dangerous Misuse of Our Most

Thank gov for induces persons to move the desert.  Don't cry about it now, the problem built from long ago.

Luke Moffat's picture
Luke Moffat
Status: Gold Member (Offline)
Joined: Jan 25 2014
Posts: 384
Brace, Brace

It would appear that stock market jitters are now hitting the public sphere. I take this to mean 'brace for impact'.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2888
Concur
Luke Moffat wrote:

It would appear that stock market jitters are now hitting the public sphere. I take this to mean 'brace for impact'.

Brace, Brace, Brace

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