Daily Digest

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Daily Digest 7/22 - Good News Friday: Ugly Veggies For Sale, Working Fewer Hours For The Environment

Friday, July 22, 2016, 8:28 AM

This is Good News Friday, where we find some good economic, energy, and environmental news and share it with PP readers. Please send any positive news to [email protected] with subject header "Good News Friday." We will save and post weekly. Enjoy!

Economy

The Future of Economics Uses the Science of Real-Life Social Networks (jdargis)

In the early 21st century, just as in the late 19th, economics in general makes the assumption that individuals operate autonomously, isolated from the direct influences of others. A person has a fixed set of tastes and preferences; when choosing from a set of alternatives, he or she compares the attributes of those alternatives and selects the one which most closely corresponds to his or her preferences. At first sight, this may seem quite reasonable, or even ‘rational’, as economists describe this theory of behaviour. If I am interested in buying a product which many people want, I may have to pay a high price. So the choices other people make affect me indirectly through the workings of the market. My preferences, however, remain unaltered, according to this conventional view of economics.

Want To Save The Environment? Work Fewer Hours, Says UN (jdargis)

In a statement, panel co-chair Alicia Barcena Ibarra put it this way: “Rethinking the way we use materials is essential if we are to safeguard humanity's future. A prosperous and equitable world that overcomes these problems will require transformative changes in how we live our lives and how we consume materials.” One of those proposals is to price raw materials in accordance with the largely unseen social and economic costs, which would inevitably shift the way we think about this planet’s resources.

First Rule of the Job Hunt: Find Something You Love to Do (jdargis)

It’s not just that more money doesn’t provide a straightforward increase in happiness. Social science research also underscores the importance of focusing carefully on the many ways in which jobs differ along dimensions other than pay. As economists have long known, jobs that offer more attractive working conditions — greater autonomy, for example, or better opportunities for learning, or enhanced workplace safety — also tend to pay less.

Where Will Flight Technology Go Next? (Josh O.)

The planes of the future will probably also look a lot like Boeing’s Dreamliner – composite materials, greater fuel efficiency, and of course modern amenities for passengers. Still energy investors should not be worried about the obsolescence of jet fuel anytime soon. The reality is that for all of the advances of battery technology, energy storage density is still extremely impractical for powering aircraft at this stage. Hydrogen fuel presents an alternative option – hydrogen was the fuel specified in Airbus’ Mach 4.5 aircraft patent filing – but hydrogen fuel is highly volatile and combustible.

Musk: Tesla to become a sustainable energy company (jdargis)

According to Musk, the purchase is central to Tesla. He intends to create a single solar energy/battery storage system that can make people energy independent with a single purchase. "We can't do this well if Tesla and SolarCity are different companies," he argues, going on to say that both companies have reached the point where they're ready to scale production of their products, so the time is right.

Single-atom-thick sheets efficiently extract electricity from salt water (jdargis)

The researchers also found that the conductance of the nanopore increases with increasing pH. They think this could be due to an increase in accumulation of negative surface charges in the nanopores. Similarly, increasing the pH increases the generated voltage and current, underlining the importance of the nanopore surface charge to ion movements.

Wal-Mart, America's Largest Grocer, Is Now Selling Ugly Fruit And Vegetables (jdargis)

Across the U.S., there's no good documentation of how much produce gets tossed because of cosmetic imperfections, and losses vary from crop to crop, says JoAnne Berkenkamp, a senior advocate for food and agriculture at the Natural Resources Defense Council. But "we've typically found that growers reported [cosmetic-related] losses ranging up to 20 percent of production in a given year, but it could be higher in years of bad weather."

For apples, blemish-related losses can reach as high as 30 percent, according to data from Columbia Marketing International that Wal-Mart cites.

Cows Injected With “Happy” Chemicals Produce Better Milk (jdargis)

The findings are interesting: Though the treated cows did not produce more milk, they had higher calcium levels in both blood and urine. Improving those calcium levels is important: cows stricken with hypocalcemia have compromised immune systems, and are more likely to have health complications like ketosis and mastitis.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/21/16

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."

24 Comments

saxplayer00o1's picture
saxplayer00o1
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Posts: 4149
Gold's $9.2 Trillion Tailwind

Gold's $9.2 Trillion Tailwind

Bloomberg-9 hours ago
Measured in terms of total return -- the price of the underlying bond, plus the yield from its coupon payments -- sovereign debt has been on a steady upward ...

Japan to miss FY 2018 deficit-cutting target on tax hike delay: NHK

Reuters-13 hours ago
... which is an important measure of fiscal health, excludes debt servicing costs and ... Japan's primary budget deficit is expected to be around 5.6 trillion yen ...

Japan's fiscal health likely to worsen after tax hike delay
The Japan Times-8 hours ago

Japan's CPI seen falling again in June, more headaches for BOJ

Reuters-9 hours ago
... which has pledged to raise inflation through heavy buying of government debt from the bond market and its controversial adoption of negative interest rates in ...

Italy MUST act NOW: IMF's warning to EU as Italian tax debt hits ...

Express.co.uk-10 hours ago
The IMF published a report this week titled “Italy: Enhancing Governance and Effectiveness of the Fiscal Agencies,” as part of the Fund's Capacity Development ...

IMF's Lagarde says global growth forecast revised downward on Brexit

Reuters-10 hours ago
BEIJING International Monetary Fund Managing Director Christine Lagarde said on Friday Brexit meant the global growth forecast was revised down and that ...

Stimulus package intended to ease restructuring ills

Korea JoongAng Daily - ‎2 hours ago‎
A 28 trillion won ($24.6 billion) economic stimulus package, which includes a 11 trillion won supplementary budget, will be largely spent on corporate restructuring and stabilizing the livelihoods of the middle and lower income classes, including ...

CalPERS funding gap will be paid for by taxpayers

San Francisco Business Times-13 minutes ago
For that particular obligation, CalPERS is $139 billion short, he says, with amortization on that debt that will require state and local governments to chip in for up ...

Zimbabwe's black market is warning that hyper-inflation may return

The Zimbabwean-7 hours ago
A vicious cycle of debt has been built around Zimbabwe. On best estimates, Zimbabwe has US$10 billion of debt compared with GDP that is expected to reach ...

Report projects dental care costs to grow 60% by 2025

DrBicuspid.com-7 hours ago
Article Thumbnail Image July 22, 2016 -- Dental care costs will soar 60% by 2025 in the U.S., according to a new report in Health Affairs. Dental experts say the ...

Recession warning as uk economy shows 'dramatic deterioration ...

Daily Mail-4 hours ago

However, Neil Wilson, markets analyst at ETX Capital, said the flash PMI data showed that Britain should be bracing itself for another recession, while the Bank ..

U.K.'s FTSE 100 Reverses Drop as PMI Plunge Spurs Stimulus Bets

Bloomberg-5 hours ago
... shares to the equivalent of sell, saying retailers may have to adapt to a backdrop of recession in the U.K. after the country's vote to leave the European Union.

Schools Will Lose $140M, Despite CPS Claim of No Classroom Cuts, Data Shows

DNAinfo - ‎20 hours ago‎
The analysis compared those numbers to the 2016-17 budget, subtracting projected special education funds from figures provided by Chicago Public Schools. CPS spokeswoman Emily Bittner acknowledged in a statement that accompanied the revised ...
Tall's picture
Tall
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Which diets are most efficient per acre?

The research team found that:

• A lacto-vegetarian diet (a vegetarian diet that includes dairy products) had the highest carrying capacity, meaning that it could feed the most people from the area of land available.

• Diets including some meat can feed more people than vegan diets, depending on estimates of how much land is suitable for crop cultivation.

• The baseline diet (Typical American Diet) had the lowest carrying capacity and required eight times more land than a vegan diet.

• As the amount of meat in the diet was reduced between scenarios, the amount of land necessary for crops to feed livestock was also reduced.

• The overall results from the model estimate that U.S. agricultural land has the capacity to meet the needs of a population 1.3 to 2.6 times larger than the U.S. population in 2010.

https://www.sciencedaily.com/releases/2016/07/160722104535.htm

 

Mike Dill's picture
Mike Dill
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Posts: 28
Flight (propulsion) technology

The article above implies that jets will continue to run on liquid fuels, or perhaps hydrogen, for the foreseeable future. If the future is very fast transport, then this might be true. My thinking is that the need for very fast transportation will diminish as virtual reality and telepresence reduce the need for business meetings.

I will still like to go on vacations, but the crowding found in today's economy plane seating mostly eliminates the positives of getting there faster.

For short and medium range air travel (less than 600 Km), electric batteries will have the energy to weight problems resolved in about seven years. The Solar Impulse glider had batteries with an energy to weight ratio of about 170 watts per Kilogram, which was very good when it was designed five years ago. Currently the 'better' batteries are at about 200 to 250 w/Kg, and it is projected that we need about 500 w/Kg for replacing jet fuel on short range jets.

Additionally, going slower uses less energy. If planes had more 'space', I could accept much longer flights, as I accept longer train rides due to the fact that I can get up and walk back to the dining car and mostly sleep undisturbed.

robie robinson's picture
robie robinson
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Long answer, Tall

I suspect that sustainability would push us North Americans back several hundred years. The Native American lived sustainably on this continent for eons, then we came and........

 

The Stone Age was sustainable, Derrick Jensen said so.

I,m headed to the 19th century. It is fun. I am not there yet.

 

Uncletommy's picture
Uncletommy
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Two birds with one (sharpening) stone.

Tall, Robie and Mike:

Just hacked the clover down and chickens are lovin' it. Put a nice edge on the scythe and am sitting in the shade drinking a kombucha. Haven't traveled more than fifty yards. Feel like I'm on vacation and the 19th century doesn't seem that far away. Have a wonderfully sustainable Friday.

debu's picture
debu
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Posts: 228
Clover

Uncletommy,

Curious to know what you are doing with your clover.

I planted white clover in my beds as a cover crop and then opened mini-beds within the clover to plant various vegetables. Learned the hard way that if I don't open up enough space in the beds the clover overtowers the seedlings, essentially out-competing them.

So, actual food production has taken a pretty big hit but the soil should be happy. I'm going to have to tweak this next year.

(Got this idea from Fukuoka Masanobu who liked to plant vegetables in meadows but might have to go back and have a re-read.)

 

robie robinson's picture
robie robinson
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UncleTom?

You are my hero... No jest intended. I want to know which method of scythe sharpening you used? Peen or file.

The glory has arrived. You are truly blessed.

Quinn, our 3week old draft filly, embraced her first, rope, halter today. She was confident and curious.

 

in the service of...

 

 

robie robinson's picture
robie robinson
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I should have capitalized

"Glory"....only Joy..."the awareness of one enchantment"...Aristotle, Nichomachean ethics. Can qualify,imho, the moment of true sustenance and pleasure......

It ain't from code, and I am fond of Python.

 

efarmer.ny's picture
efarmer.ny
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Posts: 60
Efficient Diet

Tall quoted an article:

A lacto-vegetarian diet (a vegetarian diet that includes dairy products) had the highest carrying capacity,

If you are raising goats or cows for milk, you will have male animals that are not needed. This means that you would (technically) have a little bit of meat in that scenario as well. The study acknowledged that some beef comes from dairy culls, so the authors are not stupid. I guess there is a limit to what these models can handle.

pinecarr's picture
pinecarr
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Chris Martenson: Confidence in Many Complex Systems Collapsing

Published on Jul 22, 2016

Jason Burack of Wall St for Main St interviewed returning guest, former corporate executive and phD scientist, Dr. Chris Martenson http://www.peakprosperity.com/.

And:

During this 40+ minute interview, Jason and Chris have a wide ranging discussion on a number of topics including:

1) Why he thinks gold and gold stocks have rallied so strongly since December 2015?

2) Are mainstream money managers losing all remaining confidence in the Federal Reserve and other central banks?

3) Will the stock market crash if obvious daily stock market manipulations are occurring?

4) Why haven't more shale oil companies gone bankrupt when the oil price went below $40/barrel WTI?

5) Will new technology from Silicon Valley be able to drastically reduce the usage of oil around the globe in only a decade?

6) Why isn't there more clean water available?

7) Many experts cite the Simon–Ehrlich wager from 1980 to 1990 as justifying that over the long term all commodity prices have to fall. But, despite what economic textbooks say should be happening, things have drastically changed since China joined the WTO and commodity prices are nearly all in long term uptrends and the cost of production for many commodities rises 10% or more yearly. What type of real world limits are there preventing commodity prices from declining over the long term that maybe was not seen or not available when this bet was made?

KennethPollinger's picture
KennethPollinger
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Goldbugs: Watch out!!!

Harry Dent here.

 

ECONOMY & MARKETS | July 23, 2016

Dear Kenneth,

Harry Dent has predicted nearly every major economic trend over the past 30 years… including the 1991 recession, Japan’s lost decade, the 2001 tech crash, the bull market and housing boom of the last decade and, most recently, the credit and housing bubble…  

Now he predicts gold is going to plummet.

In fact, he says: “Gold will sink to $750 an ounce and unemployment will skyrocket… We'll also see the Dow drop to 6,000 just for starters... It’s going to get ugly.”

Considering his near-perfect track record of predicting economic events long before they occur, I certainly wouldn’t bet against him.  

That’s why I urge you to see his research, and what he sees in store for the months and years ahead. 

COMMENTS???  Love to see Dent and Peter Schiff debate.

 

Arthur Robey's picture
Arthur Robey
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Mike Dill wrote

Additnally, going slower uses less energy. If planes had more 'space', I could accept much longer flights, as I accept longer train rides due to the fact that I can get up and walk back to the dining car and mostly sleep undisturbed.

A fascinating subject Mike. I have two solutions. Neither of which are any good at going to the newsagent. ( It is sad that I have to say that out loud. )

  • Gliders. Gliders refuel in thermals.  We need to pressurize the fuselage and use that energy for takeoff. And we need better Instrumentation to visualize thermals. At the moment we search about in the dark for thermals. I would use doppler radar and an algorithm to extract the vertical component from horizontal and 45° beams. (I'm talking about 2 person gliders. Again, sad that I have to clarify this issue.)
  • Solar powered airships. Everyone gets their own internet connected cabin. But we have to overcome the Hindenburg effect. "Oh, the horror! Oh, the humanity!" Oh, the hyperbole!  Of the 100 people on board the Hindenburg, 78 stepped off and walked away. And it is not compulsory to paint the airship with aluminum powder and iron oxide 
  • Or you can walk, pushing a wheelbarrow. 

 

TechGuy's picture
TechGuy
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Posts: 419
Re: diets are most efficient per acre

Humans need to consume red meat to acquire B12 since humans lost the ablity to self-produce about an eon ago. For now people vegans are getting by because many processed food contain B12 that is added. 

Cattle and other livestock can be raised sustainabily on grass acres and hay. A lot of cattle is raised fairly sustainable. since the grass fields do not need to be plowed, sprayed with pesticides, heracides, and fertializers. Grass fields with grazing cattle self-fertialize the grass fields with every poop!

On the flip side most vegan diets require more destructive farming practices since farms need to use lots of agra-chemicals (Pesticides, herbacides, fertializers) and requires lots of water to irrigate fields. Top soil errosion is an problem since vegan crops usually require plowing, cultavation, and harvesting. Far more resources are need to grow food for the vegan diet than for cattle grazing on grass fields.

That said, the global human population level is completely unsustainable. Once the permanent energy crisis arrives its going to usher in a die off via war, panademics, etc. I could understand if your goal is to build yourself a homestead and be self-reliant, but to assume changing farming practices is going to continue the status quo, is just darn silly. At this point we certainly do no need to expand the food supply since it would provide the means to support even larger human population and further distance the global from sustainability.

Another huge problem is the rapidly rising age of farmers. Currently the average age of US farmers is about 60 years. Younger people do not want to work on farms and perfer to move to the cities or suburbs. In the not to distant future, there is going to be shortage of farmers. Putting more regulations and restrictions of farming practices is just going to drive more farmers into retirement and send younger people working on farmers to seek employment elsewhere.

The best option is leave the farmers alone and not interfere them with some god-awful regulations and resstrictions.

FWIW: Generally all this information your reading is originating from academics who have no real experience in agraculture. They get gov't grant money to spew out propaganda to support a non-sense agenda that has the complete oposite affect of the gov't mandate. Examples: ACA (Obamacare)  Soaring healthcar costs not savings (CO2 emission regulation). By imposting CO2 restrictions, companies have simply relocated production to Asia that has zero regulations and has created huge new industrial complex that employes about a billion new industrialized workers. Before Western Production moved to China and India, the people lived on rural farms that were close to be sustainable. Now they have switched from sustainable jobs into heavy industry turn out megatons of more pollutions and destroying millions of acres. The sad thing is that these people had better lives living on rural farms, since they most will end up getting sick from exposure to toxics from the industrial work they are doing.

 

 

Luke Moffat's picture
Luke Moffat
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Posts: 377
Not so sure

My guess, and it's only a guess, is that a deflationary panic will force more electronic debt-tokens into gold. Just looking at the recent commodity deflation I notice that gold didn't depreciate by as much as either silver, copper or oil in percentage terms. If gold is seen as money by the big players during a panic then why will price go to $750?

TechGuy's picture
TechGuy
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Posts: 419
Re: Harry Dent
Quote:

In fact, he says: “Gold will sink to $750 an ounce and unemployment will skyrocket… We'll also see the Dow drop to 6,000 just for starters... It’s going to get ugly.”

I think he's wrong, because gov'ts are forcing bonds into negative rates to support there insolvent debt loads. Gov'ts are dead broke and the only way the can pay thier bills is to borrow billions. The problem is that the debt load is  now so big that the interest payments on the debt is sucking too much money from their budgets so they need to revert to negative rates to keep their doors open. Already we are starting to see some large companies vaulting currency or looking for options to store money outside of the bond market.

Dent thinks that the gov't won't undermind their currencies, but there is not a single case in history that supports his argument. When gov'ts run out of OPM (other Peoples Money), they sacrafice thier currency so they can keep the game going. Right now this is exactly what Japan is doing, its just that its currency has not breach the tipping point yet. I think Dent thinks that the West will be like Japan and that deflation can be stretched out over a long period. Japan has an abnormal economy that does not apply to the rest of the world.

Dent has got the cause of the crisises right but not aftermath. He predicted that after the Housing bubble there would be a global depression, asset prices would tank and cash would be king. It didn't happen because Gov't and Central banks started printing money, and will continue to do so when the next big crisis unfolds. its far easier to see that a crisis is coming than it is to see how it will unfold. Gov'ts and people will not follow rules or laws, They will do whatever they can to remain in power. 

As unemployment grows (which indeed is already unfolding) there will be an ever greater number of people forced to be reliant on gov't services. Gov't will continue to borrow and print money to continue provide wealth fare and entitlements until the currency goes bust. 

That said, I am not a big proponent of loading up on Precious metals because:

1. if countries are implementing cash controls (ie to prevent savers from hording cash in matresses) that are certainly going to ban PMs too. I suspect that the value of currencies begin to collapse, gov'ts will enact laws to seize PMs, and offer PM owners pennies on the dollar for their PM holding.  Perhaps you can bury in yoru backyard, but if you can't spend it, which makes it nearly useless as a currency. In the past gov't including the US siezed PMs from its citizens. You have to be careful now buying PMs since most gov't now demand coin and bullion dealers provide trackng information of their customers. So if you buy, they already know you have PMs and be prepared for a gov't agent to knock on your door to collect it, when the pass laws to seize it.

2. A better use of capital instead of hoarding PMs is to invest becoming self-reliant, Invest in a homestead with land that you feed your family with. You need land with a sizeable wood lot for heating, cooking and lumber. Tools, machinary, replacement parts & consumbles for essential tools and equipment. A means to self-defend your life and resources you need to survive. 

3. If you expect that at some point you many need to flee your home-country, than Diamonds would be a better option to hoard since they cannot be detected with a metal detector at an airport or boarder checkpoint. 

 

if Dent is right and and there is deflationary depression, then its likely living in a city or the Burbs is going to be dangerous. Crime will soar and so will violence. Getting essential goods like food is probably going to be a problem since gov't will likely be forced to ration food and other key resources and tens of thousands of business go out of business and the Just-in-time distribution system falls apart. A more pragmatic option is to invest in a homestead that is located in a rural area with a much lower population density. You can grow the food you need and you likely be closer to farms where food and other resources are closer.

In closing I don't have a crystal ball or time machine. I've given a lot of thought into self-preservaton over the numerous pending crisis's (Debt bubble, Peak Oil, Demographics cliff, over population, global resource depletion, global destabilization and the risks of global war). I consider myself an extereme risk adverse personality and I choose the path that offers the best chance of success. The best option is to relocate to a rural region and set up an homestead. 

 

robie robinson's picture
robie robinson
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Pure Joy!

That is the reason to live sustainably.

Just came to sleep, the un air  conditioned house had too get right, and touched in with yawl. Been playing music on the deck, acoustic of course.

all is well

 

robie robinson's picture
robie robinson
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Pure Joy!

That is the reason to live sustainably.

Just came to sleep, the un air  conditioned house had too get right, and touched in with yawl. Been playing music on the deck, acoustic of course.

all is well

 

sand_puppy's picture
sand_puppy
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Posts: 1890
Washington DC Temperature at Midnight = 90. Feels like 97

In an un airconditioned setting this is pretty intense.  But I'm glad you are enjoying yourself Robie!

davefairtex's picture
davefairtex
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Posts: 5418
air conditioning & big government

This article points out that Congress only met for half a year prior to air conditioning simply because of how horrible the weather was in DC.

"The city was built on a swamp..."

http://www.ozy.com/flashback/ac/dc-air-conditioning-the-rise-of-big-government/32523

robie robinson's picture
robie robinson
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DC and the rest of VA

We live on a hill. Several hundred yards to the woods edge is pasture, orchards and gardens. Bernoulli made certain any air movement at all would be available. The large pin oaks surrounding the home provide shade, and their respiration cool.

we have a window unit for when it gets bad.

Do not worry for us, worry for those in high density pop. Settings who have....

robie robinson's picture
robie robinson
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DC AC VA?

Not as hot here as DC, but looking at the forecasts I put the AC in the window inVA.

Oliveoilguy's picture
Oliveoilguy
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Posts: 578
TechGuy

Very well stated piece. I hope all PP folks will read your summation of Survival Priorities. I totally agree with your conclusion that a rural homestead is the best investment at this point. Not being an "all in" type of guy I would suggest a modest amount of Silver or Gold .....kinda like the 5 to 10% range, just in case it does become a recognized currency once again. I think you agree by saying to "not load up". We are also quite risk averse, and find a lot more comfort in building out the homestead than trying to outsmart the market manipulators.

There are many side advantages to living in a rural space. Like listening to the quiet, or the sounds of birds and farm animals,  clear skies, and being able to see the milky way when you go outside to pee at night. HA.

If someone has the resources that would allow them to move to a rural place I would encourage them to make the change. It is a bit daunting at first, but after a few years it feels like you came back home.

Oliveoilguy's picture
Oliveoilguy
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Uncletommy's picture
Uncletommy
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Posts: 572
Great idea, Oliveoiguy!

I've always gone long on gold and silver, but now going short(s) might be a better option. Protecting jewels and PM's  -  what a concept. 

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