Greens Terrified Cheap Energy Will Kill Wind and Solar

By Andrew Follett – Re-Blogged From http://www.CFACT.org

Cheap coal, oil and natural gas are outcompeting wind and solar power despite massive government support, and environmentalists are really upset about it.

“I believe low energy prices may complicate the transformation, to be very frank, and this is a very important issue for countries to note; all the strong renewables and energy efficiency policies therefore may be undermined with the low fossil fuel prices,”  Fatih Birol, the executive director of the International Energy Agency (IEA), told reporters in Brussels.

Americans are spending less on energy than they have at virtually any other point in recent history. Energy prices dropped by 41 percent in 2015 due to innovative new techniques to extract hydrocarbons, like hydraulic fracturing and horizontal drilling.

Wind and solar big

Environmentalists are also terrified that the rise of cheap conventional energy will hurt wind and solar.

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Currency Crisis, British Edition

By John Rubino – Re-Blogged From Dollar Collapse

It appears that Great Britain might actually do the until-recently-unthinkable, and leave the European Union. The reasons for this dramatic break-up are many, and can be Googled easily enough. For our purposes, suffice to say that traders are scrambling to figure out what this means for the British pound, and they’re not liking the answers. Here’s a quick look at the recent foreign exchange action:

The pound just hit a 7-year low — and there’s no revival in sight

(MarketWatch) – The pound has been clobbered this week, driven close to seven-year lows against the U.S. dollar — and analysts don’t see any catalyst in sight to turn that fall around.

The pound on Tuesday dropped below $1.39 against the greenback for the first time since March 2009, hitting an intraday low of $1.3879, according to FactSet. Sterling versus the dollar — known as “cable” — has lost roughly 3.5% since Friday, when the floodgate of debate surrounding the potential exit of the U.K. from the European Union burst open.

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An Escalating War On Cash

By John Browne – Re-Blogged From http://www.Silver-Phoenix500.com

On February 16th, The Washington Post printed the article, “It’s time to kill the $100 bill.” This came on the heels of a CNNMoney item, the day before, entitled “Death of the 500 euro bill getting closer.” The former cited a recent Harvard Kennedy School working paper, No. 52 by Senior Fellow Peter Sands, concluding that the abolition of high denomination notes would help deter “tax evasion, financial crime, terrorist finance and corruption.” In recent days, former Treasury Secretary Larry Summers, ECB President Mario Draghi, and even the editorial board of the New York Times, came out in support of the elimination of large currency notes. Apart from the question as to why these calls are being raised now with such frequency, the larger issue is whether these moves are actually needed or if they merely a subterfuge for more complex economic manipulations by central banks to extend control over private wealth.

In early 2015, it was reported that Spain had already limited private cash transactions to 2,500 euros. Italy and France set limits of 1,000 euros. In France, all cash withdrawals in excess of 10,000 euros in a single month must be reported to government agencies. In the U.S., such limits are $10,000 per withdrawal. China, India and Sweden are among those with plans under way to eradicate cash.

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Unsound Banking: Why Most of the World’s Banks Are Headed for Collapse

By Doug Casey – Re-Blogged From International Man

Unsound Banking: Why Most of the World’s Banks Are Headed for Collapse

You’re likely thinking that a discussion of “sound banking” will be a bit boring. Well, banking should be boring. And we’re sure officials at central banks all over the world today—many of whom have trouble sleeping—wish it were.

This brief article will explain why the world’s banking system is unsound, and what differentiates a sound from an unsound bank. I suspect not one person in 1,000 actually understands the difference. As a result, the world’s economy is now based upon unsound banks dealing in unsound currencies. Both have degenerated considerably from their origins.

Modern banking emerged from the goldsmithing trade of the Middle Ages. Being a goldsmith required a working inventory of precious metal, and managing that inventory profitably required expertise in buying and selling metal and storing it securely. Those capacities segued easily into the business of lending and borrowing gold, which is to say the business of lending and borrowing money.

Most people today are only dimly aware that until the early 1930s, gold coins were used in everyday commerce by the general public. In addition, gold backed most national currencies at a fixed rate of convertibility. Banks were just another business—nothing special. They were distinguished from other enterprises only by the fact they stored, lent, and borrowed gold coins, not as a sideline but as a primary business. Bankers had become goldsmiths without the hammers.

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China is Buying up American Companies Fast

By – Re-Blogged From Business Insider

Chinese companies have been buying up foreign businesses, including American ones, at a record rate, and it’s freaking lawmakers out.

There is General Electric’s sale of its appliance business to Qingdao-based Haier, Zoomlion’s bid for the heavy-lifting-equipment maker Terex Corp., and ChemChina’s record-breaking deal for the Swiss seeds and pesticides group Syngenta, valued at $48 billion.

Most recently, a unit of the Chinese conglomerate HNA Group said it would buy the technology distributor Ingram Micro for $6 billion.

And the most contentious deal so far might be the Chinese-led investor group Chongqing Casin Enterprise’s bid for the Chicago Stock Exchange.

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Whoever Does Not Respect the Penny is Not Worthy of the Dollar

By Nick Giambruno – Re-Blogged From International Man

This definitive sign of a currency collapse is easy to see…

When paper money literally becomes trash.

Maybe you’ve seen images depicting hyperinflation in Germany after World War I. The German government had printed so much money that it became worthless. Technically, German merchants still accepted the currency, but it was impractical to use. It would have required wheelbarrows full of paper money just to buy a loaf of bread.

At the time, no one would bother to pick up money off the ground. It wasn’t worth any more than the other crumpled pieces of paper on the street.

Today, there’s a similar situation in the U.S. When was the last time you saw someone make the effort to pick up a penny off the street? A nickel? A dime?

Walking around New York City recently, I saw pennies, nickels, and dimes just sitting there on busy sidewalks. This happened at least five times in one day. Even homeless people wouldn’t bother to bend over and pick up anything less than a quarter.

The U.S. dollar has become so debased that these coins are essentially pieces of rubbish. They have little to no practical value.

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How Access to Energy Brought Humanity Forward

By Anthony Watts – Re-Blogged From http://www.WattsUpWithThat.com

I got an email today that contained a blog post about another subject unrelated to climate or energy, but it had this graph in it that caught my eye:

global-gdp-since-steam-engine

The invention of the steam engine (which used coal and wood at first, with oil and natural gas coming later) seems to be the catalyst for change in the human race. Now that’s a hockey stick we can all get behind!

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