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Daily Digest 11/14 - Record Oil Stocks May Deepen Rout, What Happened In Paris?

Saturday, November 14, 2015, 11:38 AM

Economy

Why don’t we learn from our mistakes – even when it matters most? (Afridev)

Think, for example, of health care. In her book After Harm, published in 2005, the American researcher Nancy Berlinger investigated how doctors reframe their mistakes. “Observing more senior physicians, students learn that their mentors and supervisors believe in, practise and reward the concealment of errors,” she wrote. “They learn how to talk about unanticipated outcomes until a ‘mistake’ morphs into a ‘complication’. Above all, they learn not to tell the patient anything.”

Paris Attacks Were an ‘Act of War’ by ISIS, Hollande Says (jdargis)

“France, because it was foully, disgracefully and violently attacked, will be unforgiving with the barbarians from Daesh,” Mr. Hollande said on Saturday, adding that France would act within the law but with “all the necessary means, and on all terrains, inside and outside, in coordination with our allies, who are, themselves, targeted by this terrorist threat.”

What Happened In Paris? (jdargis)

On Friday, as the attacks were unfolding and the scale of the carnage unclear, Hollande declared a nationwide state of emergency. The attacks are the worst violence on French soil since World War II, and the worst in Europe since 2004 when coordinated blasts on Madrid’s commuter train system killed 191 people. The attacks also came 10 months after two Islamist gunmen killed 11 people at the offices of the Paris-based Charlie Hebdo, the French satirical magazine. Several attacks around Paris that followed the Charlie Hebdo massacre killed an additional five people.

Ferfal: Letters from Survivors in Ukraine (pinecarr)

“But sir, its TEOTWAWKI, I’m not supposed to pay for fees and government VAT any more because its WROL.” Its cute sometimes to see how naïve some preppers can be. Its cute but also dangerous folks. WROL is code word for no government, and sadly the government will still be there to make life miserable of. Rule of law doesn’t go away when SHTF, its still there to scew you and never to help you.

Yes, Darth Vader ran for office in Ukraine. Unfortunately, it’s no joke. (richcabot)

It is not a coincidence that most of this tale happens in Odessa, Ukraine’s lovely, corrupt port city, and traditional capital of humor. Odessa politics have been dirty historically. “Star Wars” mania at election time is a part of this corruption. The city featured a contentious fight for mayor, pitting the incumbent Gennadiy Trukhanov against Sasha Borovik, who is an ally of the current governor and former Georgian president, Mikheil Saakashvili; Eduard Hurvits, a former mayor; Sergey Kivalov, the former director of the Ukrainian Central Electoral Commission; and a cast of also-rans and so-called “technical candidates.”

What “Reclining Nude” Tells Us About the Phoney Baloney Economy (richcabot)

Understanding what is happening here is not particularly difficult. It happened in the early 80s during the stock market run up and hit a brick wall in the crash of 1987. It re-surged in the late 80s when the Japanese central bank created a credit bubble that fueled a real estate bubble that led to a stock market bubble and hit a brick wall when the bottom fell out of the Nikkei in 1990. And it’s happening now, with the S&P and Dow at near record valuations after years of Fed-supplied funny money liquidity. It’s an art bubble, and it’s just one of the signs of how far investors have detached from the actual productive economy in search of returns in a world of ZIRP and NIRP.

Say Goodbye To Open Borders (Tiffany B.)

Under the Schengen Agreement, 26 European countries have open borders with each other. That means a citizen, resident or holder of a valid visa to one of them can enter any of the other countries without border formalities. For example, I have driven between Budapest, Bratislava and Vienna many times without even noticing when I entered a new country.

This is usually of little concern. But these are unusual times.

House Republican Hard-Liners Drafting 'Contract With America II' (richcabot)

The plan would help conservatives hold new Speaker Paul Ryan and other Republican leaders to account. Even before Ryan of Wisconsin became the new speaker, they extracted promises from him to give more power to rank-and-file House members.

Some Freedom Caucus members say the new "contract" is intended to show the group can do more than throw rocks at the Republican establishment by devising a more-positive legislative agenda.

About 38% Of All The COMEX Gold In Hong Kong Left The Warehouses Yesterday (pinecarr)

The point of this is that the price discovery in New York is becoming increasingly distinct from the actual physical supply and demand flows of bullion which are taking place in Asia. As I have said, gold is 'trading like a modern currency' without respect to its nature as a commodity bound by physical supply. The Fed et al. can print money, but they cannot print bullion. That is the point of it.

IEA Says Record 3 Billion-Barrel Oil Stocks May Deepen Rout (richcabot)

Crude has dropped about 40 percent in the past year as OPEC defends its market share against rivals such as the U.S. shale industry, which is faltering only gradually despite the price collapse. Oil inventories are growing because supply growth still outpaces demand, the 12-member exporters group said in its monthly report Thursday.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/13/15

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."

6 Comments

Satanic Reptilian NWO EUSSR Mind Control Paid Troll's picture
Satanic Reptili...
Status: Gold Member (Offline)
Joined: Jun 1 2015
Posts: 331
So... what happened to peak

So... what happened to peak oil ? It was supposed to have been back in 2010, last I heard. When do we see the actual downslide of supply ? Or is this a happy golden glut before it all goes tits up ?

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1512
Zig zagging decline

Hi CarbonBlob:

As I understand it, we reached peak world oil production around 2006-2007 and we can expect to remain in a zig zagging decline pattern for the foreseeable future.  If that's correct, we will see oil price bouncing like a pinball between 1) a cost that is too high for the economy to function effectively on and 2) a price that is too low for oil producers to make a profit on.  We are currently on a low price leg.  In this low price zone, companies in the oil production business are failing (rapidly losing money) and one thing they are doing about that (in addition to selling oil below their cost to produce it) is reducing or eliminating expenses related to exploration and development of new oil finds.  Over the course of a few years, that will cause a big reduction in the amount of oil coming out of the ground and reaching markets (to keep oil production even level, new finds have to constantly be brought onto the market to make up for old finds that are running dry).  That reduction in available oil will cause sharp increases in the oil that IS coming out of the ground and onto markets.  Eventually the price will rise so high that companies and economies will start experiencing financial pain and begin failing.  Failing companies, failing economies and struggling consumers will be forced to reduce their consumption of oil.  After a few years, the reductions in oil consumption will cause oil producers to start dropping their prices to compete with each other and keep paying off the debt they incurred getting the oil to market.  Producers will eventually become so desperate they start selling their oil below their cost to produce it and deliver it to market.  That means we'll back where we are today with cheap oil in quantities greater than economies can absorb, which will lead to another reduction in exploration and development of new oil finds. Lather, rinse, repeat.

I'd love to have a 50,000 gallon oil storage tank in my basement.  I'd fill up my storage tank with oil at $41.00/barrel and wait 3-5 years to sell it for $250/barrel.  Since that's so bulky, I'm going to stick with gold and silver: they're easier to store and move around.

Satanic Reptilian NWO EUSSR Mind Control Paid Troll's picture
Satanic Reptili...
Status: Gold Member (Offline)
Joined: Jun 1 2015
Posts: 331
I'd love to have a 50,000

I'd love to have a 50,000 gallon oil storage tank in my basement.  I'd fill up my storage tank with oil at $41.00/barrel and wait 3-5 years to sell it for $250/barrel.  Since that's so bulky, I'm going to stick with gold and silver: they're easier to store and move around.

Bitcoin would be easier smiley

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The Saxon
THE WRATH OF THE AWAKENED SAXON
by Rudyard Kipling
 
 
It was not part of their blood,
It came to them very late,
With long arrears to make good,
When the Saxon began to hate.
 
They were not easily moved,
They were icy -- willing to wait
Till every count should be proved,
Ere the Saxon began to hate.
 
Their voices were even and low.
Their eyes were level and straight.
There was neither sign nor show
When the Saxon began to hate.
 
It was not preached to the crowd.
It was not taught by the state.
No man spoke it aloud
When the Saxon began to hate.
 
It was not suddently bred.
It will not swiftly abate.
Through the chilled years ahead,
When Time shall count from the date
That the Saxon began to hate.
 
 
 
 
     "This destiny does not tire, nor can it be broken, and its mantle of
strength descends upon those in its service." - Francis Parker Yockey,
IMPERIUM
http://www.europeanamericansunited.org/school1/Fiction/kipling/awakened.htm
pat the rat's picture
pat the rat
Status: Bronze Member (Offline)
Joined: Nov 1 2011
Posts: 99
look at me

Paris is more an act of yelling, look at me look at me see what I can do! Now they are starting to loose  the battle for survival.

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 772
Why don't we learn from mistakes? Another case

I am reminded of the case of Roger Keith Coleman, who was put to death despite exonerating DNA evidence, and despite the subsequent murder of another victim.

I have a proposal. In cases where prosecutors wilfully convict an innocent and therefore allow a murderer to murder again, we should investigate whether the prosecuters are in fact guilty of first degree murder, aggravated by corruption.

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