We ask why, if fracking is so great, is it a state secret? A UK government report looking at the economic consequences in rural Britain is so heavily redacted that none are allowed to know the third “major social impact” the fracking process may cause. We also discuss one energy analyst’s call for fracking as the ‘dotcom bubble’ of our age. In the second half, Max interviews an activist from Germany, Lars Maehrholz, who has seen tens of thousands across Germany attend his weekly Stop the Fed rallies.
Jeremy Grantham, chief investment strategist at GMO, mentions in his latest piece that the investing universe is a “beta desert.” That’s one reason hedge funds put on leverage, investors use margin in a more than fully priced stock market, and connected cronies issue debt and suck cash out of companies to pay themselves dividends and leave those who aren’t insiders holding the bag.
Yesterday I spoke with CBC’s Amanda Lang about derivatives, lack of criminal prosecutions, post-crisis distortions and lack of accountability. (Only viewable in those countries that can view Canadian TV). The result: negative real returns on U.S. treasuries and risk transfer to pension funds and savers.
Stacy Summary: Met a StartJOIN project owner – the Bankster Game. I had a chance to grab an interview with him to discuss various aspects of the gaming and app ...
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Since I take my timeline pretty seriously, I carefully select accounts to follow so that it is as clean and simple as I can possibly make it. It is this lack of clutter that makes it so useful. Unfortunately, it appears Twitter is determined to add clutter to my timeline without my permission.
So what am I complaining about anyway? Recently, several people have noted tweets in their timelines that didn’t seem to belong. Apparently, we now know that this is no accident and that Twitter has indeed changed its policy…
Read more here.
As rents climb, developers large and small take out their calculators and dreams of wealth blossom: but no, this is not bubble.
The disastrous blowback from inflating housing bubbles is painfully obvious: as housing becomes unaffordable, households impoverish themselves to “get in now before it’s too late;” malinvestment (i.e. McMansions in the middle of nowhere) flourishes as housing becomes a speculative financial vehicle rather than shelter; retirement funds are sold designed-to-default mortgage-backed securities, and when the bubble finally pops, those lured into buying at the top are left underwater, owing more on their mortgage than their house is worth.
But there is one silver lining to housing bubbles: some of the money squandered in the speculative frenzy ends up rehabilitating old buildings or erecting new housing in useful locales.
Read more ›
Russian central bank acquired another 300,000 ounces worth $3.9 billion in July
Gold and silver have fallen below the $1,300/oz and $20/oz levels respectively. Gold traded marginally lower in trade in London after gold in Singapore also ticked marginally lower. Read more ›
Tagged with: australia
, Chinese gold reserves
, gold mining
, gold production
, gold reserves
, peak gold
, South Africa
“My intention was to create enough controversy that people would come and then I could preach to them. Get them in the church and then you can preach to them. But the church was knocked down before I was allowed to proselytise views”. - Read my latest daily blog in full here
• SO IT GOES – John Fleming’s Blog
Originally appeared @ Bitcoinomics
A common hypothesis submitted by members of the bitcoin community argues that the National Security Agency (NSA), or some other government alphabet agency, invented bitcoin. Many bitcoiners laugh this suggestion off as “impossible,” but, on the contrary, there is precedent for such an assertion. But, that doesn’t make it true…
It’s not as if the government or its agencies have never invented technology. In particular, the US defense industries, dubbed by Dwight D. Eisenhower as the “military-industrial complex.” Government research – generally conducted by the military or intelligence complexes and academia – has resulted in some of the most compelling technologies of our age, including the internet. The Tor project (the anonymous online network) was created by DARPA (Defense Advanced Research Projects Agency) and currently receives 80% of their funding from the US Government. Read more ›
The following short video clip is simply incredible. Not just because of the incredibly insensitive comment made by CNN anchor Rosemary Church, but even more so due to the horrified and confused look on the face of black co-anchor, Errol Barnett. While CNN may not be particularly good at covering news or understanding racial sensitivities, you have to give the network credit for providing the world with one of the most memorable clips of 2014.
See for yourself here.
I reviewed the Reno Gun show last August. Click here to read that report. How times have changed, and for the better.
At the 2014 Big Show, dealers had nearly unlimited amounts of all the popular pistol, rifle and shotgun ammunition.
Prices were more than 50% lower than the Reno Gun show of early 2013.
As a matter of fact, with no lines and no limits, the buying experience was fairly routine and enjoyable.
We saw people with dollies full of ammo cases being toted to the exit doors.
Click here for more on AGXIIK’s report on the Reno “Big Show”- the Biggest Gun Show in the West:
It seems likely that significant capital inflows are helping prop up asset valuations in the U.S.
Nobody really believes the official narrative that the “recovery” is powering the remarkable strength of U.S. stocks, bonds and real estate. The real Main Street economy is quite obviously struggling, outside the energy and Federal government sectors, and so many see the Federal Reserve’s free money for financiers (a.k.a. quantitative easing) bond and mortgage-buying programs as the real reason bond yields have declined and stocks have soared.
Read more ›