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Daily Digest 11/5 – JPMorgan Gets Back Into the Electricity Business, The Incredible Shrinking Overton Window

Summary:
Economy Alarmed by Libra, EU to look into issuing public digital currency: draft (Sparky1) “The ECB and other EU central banks could usefully explore the opportunities as well as challenges of issuing central bank digital currencies including by considering concrete steps to this effect,” said the draft, prepared by the Finnish EU presidency and subject to possible amendments. Digital currencies like Libra – also known as stablecoins – are usually backed by traditional money and other securities, while crypto coins like bitcoin are not. Both are cryptocurrencies. 7 key races and ballot initiatives to watch in this November’s elections (tmn) In Mississippi and Kentucky, voters will weigh in on gubernatorial races, while in Virginia, people will have an opportunity to choose members of

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Daily Digest 11/5 – JPMorgan Gets Back Into the Electricity Business, The Incredible Shrinking Overton Window

Economy

Alarmed by Libra, EU to look into issuing public digital currency: draft (Sparky1)

“The ECB and other EU central banks could usefully explore the opportunities as well as challenges of issuing central bank digital currencies including by considering concrete steps to this effect,” said the draft, prepared by the Finnish EU presidency and subject to possible amendments.

Digital currencies like Libra – also known as stablecoins – are usually backed by traditional money and other securities, while crypto coins like bitcoin are not. Both are cryptocurrencies.

7 key races and ballot initiatives to watch in this November’s elections (tmn)

In Mississippi and Kentucky, voters will weigh in on gubernatorial races, while in Virginia, people will have an opportunity to choose members of their state legislature. Across all three states, the implications of the elections could be huge: In both Mississippi and Kentucky, Democrats have the potential to retake the governor’s seats, and in Virginia, the party could flip the House and Senate.

Fifteen Asia-Pacific countries agree on trade pact, India holds back (Thomas R.)

A summit of the leaders of the Regional Comprehensive Economic Partnership (RCEP)left open the door for India to still join if it can resolve issues before the deal is set to be signed in 2020.

Fifteen of the 16 prospective RCEP states “have concluded text-based negotiations for all 20 chapters and essentially all their market access issues,” said the leaders’ statement, which included India.

The unbelievable life and death of Michael C. Ruppert (Thomas R.)

Through the press, Ruppert tried to expose what he’d discovered. In 1981, he made persistent calls to a Los Angeles Herald-Examiner columnist in an effort to expose Teddy’s trafficking network. The columnist ultimately published a two-part series, “The Spy Who Loved Me.” But the series’ findings were, at best, inconclusive. It cited “a retired LAPD intelligence officer, another FBI agent, and [a psychiatrist]” who agreed that Ruppert’s story may have been “what he believes to be the truth,” but that there was scant evidence to prove it. “Each of these three professionals professed both a measure of admiration and a measure of fear of Ruppert,” the series read.

The CDC Is Just Telling Us About This Horrifying Lab Accident a Year Later (Sparky1)

Twelve days post-infection she was treated at a university-based ER for a fever, a general feeling of illness, pain, and worsening swelling of her finger. This means she was seen at two different facilities, and by at least three different doctors, possibly without taking precautions to prevent others from getting infected. I say ‘possibly’ because while she wasn’t told to by supervisors, she may have taken precautions on her own. We can only hope.

The Incredible Shrinking Overton Window (Matt H.)

They get people angrily debating things they can’t change, rather than constructively working on the things that they can.

They get people shoving against each other in opposite directions, while they swiftly build a cage around us all.

How you can save tens of thousands of dollars in taxes by moving abroad (Thomas R.)

However, you can move to a country that doesn’t tax the foreign income of its residents – like Panama – and pay no tax on that income (up to $105,900) at all.

That’s a pretty good deal (and Panama is a fantastic place to live).

31% Think U.S. Civil War Likely Soon (Thomas R.)

Just before Trump’s inauguration, half (50%) of voters felt America was a more divided nation after the eight years of the Obama presidency. Since Trump’s election, a majority (55%) of voters believes America is more divided.

Most voters across the partisan spectrum are concerned about political violence from those opposed to Trump’s policies, although Republicans are the most likely to be Very Concerned. The level of concern is about the same among Republicans, Democrats and unaffiliated voters when it comes to the threat of violence from those critical of the media’s coverage of Trump.

Scramble for propane marks Mother Nature’s latest challenge for U.S. farmers (Sparky1)

“Because the corn is wetter, we have to dry it all night to try to keep up,” said Shane Goplin, 45, who farms 1,700 acres of corn in Trempealeau County, Wisconsin. He has been sleeping inside a shed next to his corn dryer to keep an eye on the machine and make sure not a drop of fuel is wasted.

“The problem is everyone is harvesting wet corn,” he said.

A Wave Of Unprofitable Oil Is About To Hit The Market (Michael S.)

“From 2010 through 2014 around 3,000 new oil fields were sanctioned, and we estimate that around 800 of them did not create value,” Espen Erlingsen, head of upstream research at Rystad Energy, said in a statement. “With the pivot in development costs from 2015 onwards, the projects sanctioned over the last four years are in a much better position.”

JPMorgan Gets Back Into the Electricity Business (edelinski)

An ownership stake in physical commodities, including metals mining, oil and gas drilling, and electricity generation, gives banks tremendous information advantages that can be used to trade for profit. “If we have three big banks controlling the energy sector, and three big tech companies controlling everything else, then what kind of world are we living in?” asks Saule Omarova, a professor at Cornell Law School who specializes in analyzing linkages between banking and the commercial economy.

California’s on fire, unplugged and out of easy answers. So why don’t we…? (tmn)

We’ve spent billions: Rare is the press release from Gov. Gavin Newsom that does not include a litany of wildfire actions. But it hasn’t been enough, and as Californians now face the realities of climate change by the terrified millions, the only choices left are hard vs. hard: Black out even more people. Ban wildland homebuilding. Bury power lines. Build microgrids. Break up the state’s largest utility — the bankrupt one supplying half of the state — and give its aging, spark-spewing equipment to taxpayers or customers or hedge funds or Warren Buffett. Burn nature before it burns you.

More than 100 vegetable products recalled for listeria concerns (Sparky1)

Listeria monocytogenes is a pathogenic bacteria that can cause listeriosis. Listeriosis can cause fevers, headaches, stiffness, nausea, abdominal pain and diarrhea in healthy individuals.

However, the infection can be fatal for some people. Pregnant women and their newborns, adults over the age of 65 and people with weakened immune systems are the most at risk, according to the Centers for Disease Control and Prevention (CDC).

Hundreds of thousands of people in California are downriver of a dam that ‘could fail’ (Thomas R.)

Flood waters could even reach Baker, which is more than 140 miles downstream of the dam, the statement said.

But it’s unlikely a storm of that magnitude would occur, Col. Aaron Barta, commander of the Corps’ Los Angeles District said. “The dam has never experienced spillway flow or a flood event that has loaded the dam significantly,” Barta said. “This is a storm that is unlikely to occur, but it is nonetheless a real possibility and one we must be prepared for.”

Blood Gold in the Brazilian Rain Forest (jdargis)

In the course of a two-week visit, I took several flights over the forest. On one, as the plane cleared the treetops, I saw smoke rising in a huge, menacing column, like a cloud of volcanic ash. For hours, the fire burned, unattended, and a dense blanket of smoke settled on the horizon. Fires like this one are an increasingly regular feature of life in the Amazon, where settlers regard them as an essential part of progress.

Scientists Have Found There’s a Crucial Change We Can Make to Better Serve Our Planet (belmontl)

Still, the notion of changing our economic system to fit within the physical limits of our reality is seen as highly controversial and isn’t something many policy makers will discuss.

Especially when leaders of wealthy nations such as the US and Australia openly deny climate change. Or as a leaked document from the UK’s foreign office reads: “Trade and growth are now priorities for all posts… work like climate change and illegal wildlife trade will be scaled down.”

Gold & Silver

Click to read the PM Daily Market Commentary: 11/4/19

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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