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Daily Digest 11/23 - Americans Buying Tons Of Gold, Magical Thinking About ISIS

Monday, November 23, 2015, 11:13 AM


When Wall Street Gets DeFANGed———Look Out Below! (Aaron M.)

In fact, there were some fireworks in last week’s gains, but if history is any guide they were exactly the kind of action that always precedes a thundering bust. To wit, the market has narrowed down to essentially four explosively rising stocks—–the FANG quartet of Facebook, Amazon, Netflix and Google—–which are sucking up all the oxygen left in the casino.

Putin Tells Everyone Exactly Who Created ISIS (Aaron M.)

In western media Putin could soon find himself painted as the new combination Hitler/Stalin in a looming WWIII—another so-called “just war” which US will be “morally compelled to fight”, to “save the world from tyranny”. Christian dominionists will be calling it Armageddon—the final battle between Good and Evil before the return of the King!

Obama Orders Inquiry Into Intelligence on ISIS (jdargis)

In recent weeks, the Pentagon has expanded its investigation into the allegations and has seized a large trove of emails and documents as it examines the claims. The president said altering reports to make them more optimistic would be contrary to his wishes.

Magical Thinking About ISIS (jdargis)

It is hard not to feel sentimental about the neighbourhoods of the 10th and the 11th, where IS attacked Le Petit Cambodge and the Bataclan theatre. I know these neighbourhoods well; a number of my journalist friends live there. In a city that has become more gentrified, more class-stratified and exclusionary, they are still reasonably mixed, cheap and welcoming, still somehow grungy and populaire. Odes to their charms have flooded the French press, as if the attacks were primarily an assault on the bobo lifestyle. ‘They have weapons. Fuck them. We have champagne,’ the front page of Charlie Hebdo declared. But as the journalist Thomas Legrand noted on France Inter, ‘the reality is that we have champagne … and also weapons.’

Americans are buying tons of gold (jdargis)

The skyrocketing demand signaled a level of interest in gold investment "not seen since the global financial crisis," the group said.

The U.S. Mint backs up that assessment. It said gold Eagle coin sales surged to nearly 400,000 ounces last quarter, the highest level in more than five years.

PBS NewsHour Uses Russian Airstrike Footage While Claiming U.S. Airstrike Successes (richcabot)

The U.S. then claimed to have hit 116 oil tankers while the Russian air force claims to have hit 500. But there is an important difference between these claims. The Russians provided videos showing how their airstrikes hit at least two different very large oil tanker assemblies with hundreds of tankers in each. They also provided video of several hits on oil storage sites and refinery infrastructure.

Why SEIU Backed Hillary (jdargis)

The best way to understand SEIU’s decision is to work backwards from what it considers an absolute imperative: electing a Democratic president in 2016. For the labor movement, it is now a question of survival. Union membership represents barely 11 percent of the American workforce, and that number drops nearly every year. A Republican chief executive means a Republican majority on the National Labor Relations Board, and perhaps decades more of a right-wing Supreme Court, which has already shown itself willing to disrupt generations-old norms in workplace representation.

To Save African Penguins, Humans Run a Dating Service (jdargis)

Scientists gather the genetic information on more than 800 birds held around the country and make breeding recommendations based on which are least related to one another. The facilities maintain “studbooks” that track the information and carry out prescribed breeding and transfer plans.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/8/15

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."


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Repost Of Today's News

Europe recession 'could be permanent'

BBC News-16 hours ago
The worst effects of the European recession risk becoming permanent in places, according to a left-leaning think tank. The IPPR's latest report pointed to the ...

Switerland's Alternative Bank Schweiz world's first bank to apply negative ...

City A.M. - ‎6 hours ago‎
A small Swiss bank has caused a stir, after becoming the world's first financial institution to apply negative interest rates to individual clients. While a number central banks around the world have taken benchmark interest rates below the zero mark ...

Euro Area's Negative-Yielding Debt Tops $2 Trillion on Draghi

Bloomberg-8 hours ago
Investor expectations of expanded monetary easing from European Central Bank President Mario Draghi have pushed the amount of euro-area government ...

Central Bank in Brazil Forcasts 2016 Inflation Above Target Ceiling

The Rio Times-3 hours ago
The Focus Report, released by the Central Bank on Friday shows that forecasts for the 2015 inflation increased for the 10th consecutive time, going from 10.04 ...

Italy Approves Resolution Plans For Four Troubled Lenders

Bloomberg-7 hours ago
Aggressive interest rate increases in the U.S. could make it more difficult for companies in developing countries to pay back their $1.4 trillion of dollar debt.

Italy prepares to sell up to 40 per cent of state railways

Europe Online Magazine-3 hours ago
Italy is under pressure to sell state assets to reduce public debt, which stands at around 2.2 trillion euros, although critics say proceeds from the process are ...

Shanshui Default Woes Hit China as More Bond Sales Scrapped

Bloomberg-14 hours ago
Hua Chuang Securities Co. estimated the total amount of new debt being used to cover interest will be a record this year at 7.6 trillion yuan, up 5 percent from ...

Unemployment Debt Weighs on U.S. States 6 Years After Recession

Bloomberg-6 hours ago
U.S. states are still repaying federal loans for unemployment benefits more than six years after the recession, costing businesses from mighty Apple Inc. to Ohio's ...

Poverty at record high in Venezuela

Latin Correspondent-4 hours ago
However, they have risen more recently as the country struggles with raging inflation levels, a worsening recession and sickly oil prices — the country's main ...

Japan government plans to raise minimum wage in stimulus ...

Reuters-11 hours ago
... as Tokyo is keen to ramp up consumer spending, which is seen as crucial to boosting domestic demand and pulling the economy out of 15 years of deflation.

Audit report shows government debt up by RM43 billion

The Malaysian Insider-9 hours ago
The latest Auditor-General's Report says government debt went up by as much as RM42.97 billion last year compared to 2013. – The Malaysian Insider file pic, ...

Detroit Public Schools Bankruptcy Could Cost the State $3.4 Billion

Michigan Capitol Confidential-5 hours ago
The Detroit Public Schools' $1.3 billion in pension obligations is the major ... of the district's debt that a default would mean less state resources available to back ...

Oil companies brace for big wave of debt defaults

Hellenic Shipping News Worldwide-1 hour ago
Low oil prices are leaving many oil and gas companies with difficult debt loads, ... have cut credit lines of 10 firms by just over $1.1 billion, Reuters reported.

Treasuries Fall as Week's Sales to Tally More Than $100 Billion

Bloomberg - ‎2 hours ago‎
Longer-term U.S. government debt gained the past two weeks as Federal Reserve officials signaled they'll proceed cautiously in raising interest rates after boosting the overnight target from near zero. San Francisco Fed President John Williams said Nov.

RPT-UPDATE 1-LPC-Banks brace for losses as US$14bn US LBO ...

Reuters-1 hour ago
With billions of dollars of Veritas debt to sell and the $14 billion LBO pipeline looming as low secondary prices continue to pose a threat to new issues, investors ...

Dabrowski: Illinois' time bomb growing, ticking louder

Dubuque Telegraph Herald-7 hours ago
Today, Illinois' pension debt totals more than $100 billion. That's because Edgar's plan didn't structurally reform pensions. Instead, it simply pushed the state's ...

Survey: More patients avoiding healthcare due to rising prices

KFVS-13 hours ago
(KFVS) -. Many people with health problems are avoiding the doctor because of high healthcare costs. more than one-third of low-wealth Americans report they ...

Wayne County retirees face big health care bills

Detroit Free Press-13 hours ago
Ronald Olszewski, 64, of Livonia, is one of the retirees contemplating a substantial increase in health care costs in coming months, although he does not know ...

The Accounting Rules That Bankrupt Cities

The Atlantic-6 hours ago
The plan imposed deep cuts in future pension and health-care benefits. ... When converted to accrual accounting, the surplus turned into a $674.3 million deficit.

Pensions' Private-Equity Mystery: The Full Cost

Wall Street Journal - ‎17 hours ago‎
When pension funds did the math as political scrutiny of these expenses intensified amid a broader debate on the costs of nontraditional investments, they said private-equity firms didn't make the expenses easy to calculate. No standard existed for how ...

Oil Workers Brace For Fresh Layoffs, As Industry Wrestles With 'Lower For ...

Houston Public Media - ‎5 hours ago‎
Oil Workers Brace For Fresh Layoffs, As Industry Wrestles With 'Lower For Longer' Crude Prices. Many workers losing their jobs today are expected to leave the Texas oil industry, or retire, before prices recover. Andrew Schneider | Posted on November ...

Global debt defaults near milestone

Financial Times-6 hours ago
Global debt markets are on the cusp of an unwelcome development with the number of companies defaulting on their obligations set to reach the century mark, ...


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As within, so without

"We all have inner demons to fight, we call these demons fear and hatred and anger. If you do not conquer them then a life of one hundred years is a tragedy. If you do, then a life of a single day can be a triumph." - Yip Man

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She got it...exactly wrong

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To make them all understand...

...you must yell louder at it.

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Life used to be simpler

Or was it?

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Turkish F-16s Shoot Down Russian Su-24 Warplane Near Syria Borde

From ZH: http://www.zerohedge.com/news/2015-11-24/turkish-f-16-shoots-down-russian-su-24-warplane-near-syria-border

Moments ago a big black geopolitical swan landed when newswires lit up with headlines that a Turkish F-16 shot down what was initially said to be an unidentified warplane near the Syrian border after it violated Turkey's airspace on Tuesday, a Turkish military official said, but the nationality of the downed aircraft was not immediately clear.

According to Reuters, Turkish F16s warned the jet repeatedly over the airspace violations before shooting it down.


Footage from private broadcaster Haberturk TV showed a warplane going down in flames in a woodland area, a long plume of smoke trailing behind it. The plane went down in area known by Turks as "Turkmen Mountain" in northern Syria near the Turkish border, Haberturk said.


Minutes later, the Turkish Lira sank like a rock while risk assets across Europe tumbled when the Turkish presidency confirmed that, as many had expected, the jet was a Russian fighter jet, which the Russian Defense Ministry later said was a Su-24. The Su-24 jet was warned after violating Turkish airspace and was then downed in line with Turkey’s rules of engagement, Anadolu says, citing officials at the presidency.

According to Todays' Szaman, in a statement, the Turkish military said a plane of unknown origin was shot down after it violated the Turkish airspace despite repeated warnings. The aircraft was warned 10 times in 5 minutes, the military said.

It said two Turkish F-16s were involved in the shooting down of the jet.

However, while moments ago the Russian defense ministry confirmed that the shot down plane was indeed one of its own in what will be deemed a clear act of aggression by a NATO-member country against Russia, the Russian defense ministry said it could prove the aircraft was over Syria for the entire flight.

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