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Daily Digest 11/19 - The Future Of Global Oil, Beirut Feels Forgotten

Thursday, November 19, 2015, 11:46 AM

Economy

Rollercoaster Crash: Top 4 Reasons For Deflation - Hidden Secrets Of Money 6 (Kevin J.)

Conclusive proof a market crash bigger than 1929 is coming. There are 4 unmistakable signals a financial crisis of epic proportions is headed straight toward us. And to walk you through each of them, bestselling author Mike Maloney has released a shocking new video. It’s the first episode of the all-new season of the Hidden Secrets of Money. And it contains vital information for avoiding a stock market collapse.

Mike Maloney: Bond Bust Will Be Biggest Crash in History (pinecarr)

Where does that leave gold and silver? Maloney says, “In the last great deflation, which was well studied, the Great Depression, gold rose 70%. If you owned gold, you ended up with two and a half times more purchasing power. One of the few assets that actually did well in the last great deflation was gold.”

Beirut, Also the Site of Deadly Attacks, Feels Forgotten (richcabot)

Around the crime scenes in south Beirut and central Paris alike, a sense of shock and sadness lingered into the weekend, with cafes and markets quieter than usual. The consecutive rampages, both claimed by the Islamic State, inspired feelings of shared, even global vulnerability — especially in Lebanon, where many expressed shock that such chaos had reached France, a country they regarded as far safer than their own.

Barclays to pay $150 million more to New York regulator in forex probe (richcabot)

Barclays, in some instances, used a feature called “Last Look” on its forex trading platform to automatically reject client orders that would be unprofitable for Barclays because of price swings in milliseconds-long hold periods the bank imposed after trades were placed.

Barclays, however, did not disclose to clients that the trades were being rejected, but instead cited technical issues or gave vague responses, NYDFS said.

The Future of Global Oil (Tiffany B.)

But as the Oxford Institute for Energy Studies recently noted, India’s oil demand broke out to even higher levels in a trend that started in December last year. By February, oil consumption rose to a record 3.91 million barrels a day, the second highest ever recorded in the country. The trend continues despite the removal of fuel subsidies and the imposition of excise taxes by the reformist Modi government.

Fed officials again flag December; see smooth rates liftoff (richcabot)

Rob Kaplan, the Fed's newest policymaker, declined to use his first public appearance as president of the Dallas Fed to comment directly on the timing of a rate hike, but expressed confidence that inflation will rise back to the Fed's 2 percent goal over the medium term. The Fed has said it needs exactly that confidence before raising rates.

Once rate hikes start, he said, the Fed will reassess conditions at each meeting and will pause further rate hikes if needed.

London Property Crashes – Off 11.5% in One Month (Aaron M.)

The emails have been coming in, asking how can our model can pinpoint so many aspects around the globe. This is a global model; it is not constructed on a single economy. Moreover, every aspect is included, for this was created from a list of panics irrespective of the underlying instrument.

Obama Administration Goes Easy on For-Profit-College Company With Goldman Sachs Ties (richcabot)

If you read that the DOJ required a loan-forgiveness program from Education Management Corporation, you might think that the Obama administration is seriously cracking down on for-profit education companies. However, the pool of students who will share in "the $102.8 million loan forgiveness program" is so restrictive that Education Management will not be held liable for the plundering of federal and personal loans totaling in the billions of dollars over the past few years. In short, the corporation has profited from its fraud, just as Wall Street financial firms - as BuzzFlash has frequently documented – have engaged in deceitful practices that resulted in profits exceeding government fines.

ISIS Goes Full "Jackass", Tries To Shoot Down Fighter Jet With Pickup Truck Machine Gun (Afridev)

Then, for those who watched the video the militants released earlier this week threatening to attack Washington, you might have noticed that in the scenes with the soldiers standing in front of the armored truck, the guy on the right falls asleep standing up at least four separate times as the man in the center delivers an impassioned speech.

Gordon T. Long: Financial Repression, Gold, And The Dollar (Jonathan D.)

Gordon T Long has 40 Year career in technology, senior management and investment finance. He was Senior group executive with IBM and Motorola for over 20 years, Spearheaded International Subsidiary and Distributor Start-up Operations for high profile technology firm, Founded LCM Groupe in Paris, in 1995 to specialize in rapidly emerging Internet Venture, Capital and Private Equity Industry, Financial writer and commentator since 2010.

Scientists discover new antibiotic-resistant gene MCR-1 in China (richcabot)

"Equally worrying is that this type of resistance can be easily transferred between bacteria," she said. Piddock said that global monitoring for MCR-1 resistance was going to be essential to prevent the spread of polymyxin-resistant bacteria.

The Black Market For Black Gold In The U.S. Is Booming (Evan K.)

From raw crude sucked from wells to expensive machinery that disappears out the back door, drillers from Texas to Colorado are struggling to stop theft that has only worsened amid the industry’s biggest slowdown in a generation. Losses reached almost $1 billion in 2013 and likely have grown since, according to estimates from the Energy Security Council, an industry trade group in Houston. The situation has been fostered by idled trucks, abandoned drilling sites and tens of thousands of lost jobs.

Fossil Fuel Subsidies Top $450 Billion Annually, Study Says (richcabot)

The report by Oil Change International, a Washington-based advocacy organization, and the Overseas Development Institute, a British research group, calculates the amount of money the G20 nations provide to oil, gas and coal companies through tax breaks, low cost loans and government investments. It comes just weeks before country representatives convene in Paris to forge a climate deal that aims to put the global energy economy on a path to zero emissions, and it underscores the obstacles this effort faces.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/18/15

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."

4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
Brazil annual inflation rate tops 10 pct in mid-November Reuters

Brazil annual inflation rate tops 10 pct in mid-November

Reuters-3 hours ago
Inflation is set to end this year at 10.04 percent, according to a weekly central bank survey on Monday, falling next year to 6.5 percent. The central bank has held ...

 

Economic growth in developed economies slows: OECD

MarketWatch-1 hour ago
Economic growth in developed countries slowed during the third quarter, ... The OECD initially reported a 0.4% growth rate in the second quarter, which was ...

Morgan Stanley's China Bear Puts Zero Odds on 6% Economic Growth

Bloomberg - ‎10 hours ago‎
History is not on China's side when it comes to the nation's economic growth goals for the next five years. No economy over the past half century has expanded at 6 percent or more as its labor force shrank, according to Ruchir Sharma, the head of ...

China banks turn blind eye to soaring overdue loans

Reuters-18 hours ago
Rise in overdue loans point to build-up of bad debt ... increased 17 percent to 692 billion yuan, a UBS analysis of Chinese banks' balance sheet data show.

Petrobras's Dangerous Debt Math: $24 Billion Owed in 24 Months

Bloomberg-14 hours ago
The debt clock is ticking down at Brazil's troubled oil giant, Petrobras. Next up: $24 billion of repayments over 24 months. That's a towering hurdle for a company ...
 
Creditors line up for possible Arch bankruptcy
The State Journal-Register-18 hours ago
 

MarketsGermany snags record low yields for 2-yr debt sale

Financial Times - ‎Nov 18, 2015‎
Germany has sold two-year government debt with a yield of -0.38 per cent, a record low according to Bloomberg. The country's yields at this maturity have been negative (meaning that investors effectively pay to own it to maturity) in the post-issue ...
 

Draghi Put Pushes 40% of German Bond Yields Below Deposit Rate

Bloomberg - ‎1 hour ago‎
The amount of securities with yields below the deposit rate has climbed to $469 billion, reducing the range and amount of debt available to the central bank's 1.1-trillion-euro ($1.2 trillion) quantitative-easing plan. Some policy makers called for ...

Indonesia to require pension funds hold minimum percentage of govt bonds

Reuters - ‎9 hours ago‎
JAKARTA, Nov 19 Indonesia plans to require domestic pension funds and insurers to keep a minimum percentage of government bonds in their portfolios to help provide stability to the debt market, the country's financial services authority (OJK) said on ...
 

Six percent of Korean firms face insolvency

Korea JoongAng Daily-22 hours ago
The total debt of the 295 companies amounted to 270 trillion won, while total capital was only 70 trillion won. The average debt ratio stood at 384 percent.
 

China's Central Bank Cuts Rates for Its Standing Lending Facility

Wall Street Journal - ‎3 hours ago‎
BEIJING—China's central bank took another step to reduce the rates banks charge businesses and consumers in an attempt to counter the deflationary pressure that is weighing on growth in the world's second-largest economy. In a move characteristic of ...

First ever negative yields in auctions of short-dated government debt

The Portugal News-6 hours ago
Portugal on Wednesday for the first time ever saw negative yields in an auction of government debt, placing €1.5 billion - more than initially planned - of six- and ...

Big oil writes off $US38 billion in assets in September quarter ...

ABC Online-12 hours ago
Big oil writes off $US38 billion in assets in September quarter, Energy Information ... tough for the oil companies particularly in raising debt and selling assets.

Top New Jersey lawmakers skirmish over pension, road funding

Chron.com-Nov 18, 2015
... looks certain to include political skirmishes over the debt-laden pension fund ... The state's public pension has a nearly $80 billion unfunded liability, which the ...

In spite of misinformation campaign, AL lawmakers are trying to save ...

Yellowhammer News-12 hours ago
This is no small task, as Alabama's public pensions are underfunded by at least $15.2 billion. To put this number into perspective, every household in Alabama ...

Grim numbers in state pension fund report

The Courier-Journal-50 minutes ago
Overall, pension funds at Kentucky Retirement Systems lost $369 million ... Unfunded liabilities now top $19 billion for all the pension and insurance funds ...

Taxpayers will pay billions more as CalPERS lowers estimate of investment returns

Los Angeles Times - ‎14 hours ago‎
Fast-rising pension costs have already forced many cities to cut library hours, street repairs and other services. Three California cities — San Bernardino, Stockton and Vallejo — filed for bankruptcy protection in recent years at least in part ...

Reserve Bank of India hit as 17000 staff take 'mass casual leave'

Financial Times - ‎7 hours ago‎
The basic pension does not rise with inflation “which puts thousands of RBI pensioners in extreme penury in these days of soaring prices, increased medical costs, etc,” the central bank unions said in a joint statement. They added that peaceful efforts ...

San Diego City Council prepares for budget fight

KUSI-16 hours ago
The city's next pension payment could increase to $260 million because the ... against future budget cuts when pension costs rise unexpectedly," the mayor said.

Preckwinkle's tax-laden 2016 county budget easily passes

Chicago Tribune-15 hours ago
... to start reducing the county's $6.5 billion government worker pension fund shortfall. ... The money will be used to help pay day-to-day county operating costs.
 

Health Care Law Forces Businesses to Consider Growth's Costs

New York Times - ‎19 hours ago‎
Nearly all large companies provide health care benefits, but only 54 percent of businesses with three to 49 workers offered coverage to their workers this year, according to an analysis by the Kaiser Family Foundation. Paying even a portion of the cost ...]

UnitedHealth Raises Doubts About Its Participation in Affordable Care Act

Wall Street Journal - ‎3 hours ago‎
... insurers have raised premiums in order to cover the medical costs of enrollees, which have run higher than many companies originally projected, fueling this year's losses. Insurers have also shifted to offering more limited choices of health-care ...

PEBB forecasts massive budget deficit

Statesman Journal-11 hours ago
The deficit is the result of increased health care costs, a planned $120 million payment to the Legislature and a $30 million fine for making that payment, which ...

 

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 654
NEW Global Reserve Currency

Some of you who follow the debate about how we will get through the next financial crisis might enjoy Rickard's latest lengthy post about the history of the world's reserve currencies and how to protect yourself from the rebalancing of that BASKET.  Fascinating, as usual, at least for me.

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 654
Rickards, again. Sorry

ooooppps.

Jim Rickards Strategic Intelligence  

November 20, 2015

Strategic Intelligence Issue #14

The Only Way to Own the
New World Money

 

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2833
The Only Way to Own
KennethPollinger wrote:

ooooppps.

Was there a link to the article Ken? Just curious, sounded like it might be interesting. Do we all need to get chipped?

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