When will the gold-backed #Petroyuanreplace the paper-backed #Petrodollar? What are your thoughts on Universal Basic Income (#UBI)? #Harvey and #Irma projected to cost $200 billion. Shipping pollution intensifies storms at sea, and MORE. Wake Up Wyoming: 9.12.17
NEWS LINKS from compiled by the incomparable RICEFARMER and JENNA ORKIN
TODAY’S TOP STORIES
Moody’s: Harvey and Irma Economic Hit Could Total $200 Billion
Hurricane Irma Has Been Literally Pulling The Ocean Away From Its Shores
Desperation Mounts in Caribbean Islands: ‘There’s nothing left’ in the BVI’s and ‘All the Food Is Gone’ (VIDEO)
Over Half Of Florida Without Power As State Braces For “Lengthiest Restoration In US History”
Florida gun owners encouraged to ‘shoot the storm’ and fire their guns at Hurricane Irma
Elon Musk Magically Extends Battery Life Of Teslas Fleeing Irma
Global Ponzi meltdown/House of Cards/deflationary collapse ##
The U.S. Petro Dollar Breakdown Continues: Big Moves In Gold & Silver Ahead
The four-decade long monopoly of the U.S. Petro-Dollar as the world’s reserve currency is coming to an end. Unfortunately, most Americans have no clue that when the Dollar loses its reserve currency status, life will get a lot tougher living in the U.S. of A. Let’s say, Americans will finally receive “Precious metals religion.”
The U.S. Dollar Index fell considerably yesterday and is now down below a key support level. In early morning trading yesterday, the U.S. Dollar Index fell to 91.46, down 73 basis points:
How China Just ‘Reset’ the Global Monetary System With Gold
In June, China took the first step towards overturning the petrodollar by establishing a direct-trade relationship with Russia allowing for oil purchases to be made strictly in yuan. And just like that, the petroyuan was born.
Not long after China’s new deal with Russia, Chinese officials began negotiations for a similar agreement with Saudi Arabia. But the discussion didn’t flow as smoothly as it did with Russia.
Russia welcomed the petroyuan with open arms. But other big oil exporters haven’t been as keen to embrace it. Despite rising concerns around the U.S. dollar’s stability and viability, the yuan is still too illiquid and unestablished globally in comparison, causing many exporters to shy away from accepting it.
But China has an ingenious way to solve this problem: Simply back the petroyuan with gold.
Venezuela’s Maduro says will shun U.S. dollar in favor of yuan, others
(Reuters) – Venezuelan President Nicolas Maduro said on Thursday his cash-strapped country would seek to “free” itself from the U.S. dollar next week, using the weakest of two official foreign exchange regimes and a basket of currencies.
Maduro was refering to Venezuela’s “DICOM” official exchange rate in which the dollar buys 3,345 bolivars, according to the central bank.
At the strongest official rate, one dollar buys just 10 bolivars, but on the black market the dollar fetches 20,193 bolivars, a spread versus the official rate that economists say has fostered corruption.
A thousand dollars of local currency bought when Maduro came to power in 2013 would now be worth $1.20.
Venezuela to start selling oil in non-dollar currencies
Venezuelan President Nicolas Maduro announced on Friday his that government will sell oil and other commodities in currencies other than the dollar, in a bid to weather US-imposed sanctions on the embattled country.
“I have decided to start selling oil, gas, gold and all other products that Venezuela sells with new currencies, including the Chinese yuan, the Japanese yen, the Russian ruble, the Indian rupee among others,” he said during a television broadcast.
“An economy free from the US imperialist system is possible.”
France, Germany, Italy, Spain seek tax on digital giants’ revenues
EU criticizes Trump’s economic policy: report
The European Union’s economic and financial committee has criticized U.S. President Donald Trump’s economic policy and is worried that his efforts to boost protectionism pose a threat to the global economy, a German magazine reported on Saturday.
The Next Spanish Bank Teeters, at Worst Possible Time
IMF’s Christine Lagarde worried about Asia’s aging population
Is Wage Deflation Here To Stay?
Hurricane Irma will hammer insurance industry — up to $65 billion in damage is projected
Universal basic income:Yes, This is a Real CNBC Article on “Economics”
Giving every adult in the United States a $1,000 cash handout per month would grow the economy by $2.5 trillion by 2025, according to anew study on universal basic income.
The report was released in August by the left-leaning Roosevelt Institute. Roosevelt research director Marshall Steinbaum, Michalis Nikiforos at Bard College’s Levy Institute, and Gennaro Zezza at the University of Cassino and Southern Lazio in Italy co-authored the study.
The study made economic forecasts for three proposals: a full universal basic income in which every adult gets $1,000 a month ($12,000 a year), a partial basic income in which every adult gets $500 a month ($6,000 a year), and a child allowance in which parents get $250 a month ($3,000 a year).
The larger the universal basic income, the greater the benefit to the economy, according to the report.
A $1,000 cash handout to all adults would grow the economy by 12.56 percent after eight years, the study finds. Current Congressional Budget Office estimates put the GDP at $19.8 trillion. The cash handout would therefore increase the GDP by $2.48 trillion.
The following is commentary by Joe Jarvis of The Daily Bell:
Wow! You’re saying that by the U.S. government simply creating money out of thin air, we can increase the amount of money in existence! Why didn’t we think of this before? Why are we only $20 trillion in debt! why not go $200 trillion in debt. Why not $900 trillion?! Who cares, it just boosts the economy.
The super-serious-legitimate-intellectual study found that the larger the handout, the more the economy grows! Hear that? We can all be millionaires! It’s easy street from here on out.
We can all quit our jobs at the factories, farms, grocery stores, and office buildings. Things will keep being produced, sold, and organized according to the report.
What they didn’t add is that in order to finance these handouts without taxation, the U.S. would add $24 trillion of debt. The already insane national debt would more than double in 8 years.
And what would a cash influx of that kind cause?
Exactly what the study did not take into consideration. Inflation.
## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran To Become Essential Hub In China’s Belt And Road Initiative
State Dept Approves $3.8 Billion Arms Sales to Bahrain
The US State Department has approved $3.8 billion in weapons sales to the tiny island nation of Bahrain. The Pentagon confirmed the approval and the State Department has notified Congress, who held up a similar sale last year over Bahrain’s many, many human rights problems.
The Dangerous Decline of US Hegemony
The bigger picture behind Official Washington’s hysteria over Russia, Syria and North Korea is the image of a decaying but dangerous American hegemon resisting the start of new multipolar order.
Bill Clinton’s favorite African, Paul Kagame, Wins Re-election by 99%, Arrests Opponent
Bangladesh braces for new surge as Rohingya exodus nears 300,000
Desperation spreads in Rohingya camps as food stocks dwindle
Rohingya insurgents, whose attack on Myanmar security forces last month triggered savage military reprisals, declared a monthlong truce Sunday as refugees continued to flood across the border into Bangladesh only to face scant basic resources, hunger and illness.
The Muslim insurgents of the Arakan Rohingya Salvation Army issued the truce statement on its Twitter account and urged Myanmar’s government to reciprocate in order to assist all victims regardless of their background.
The government did not comment immediately.
Myanmar’s Rohingya Crisis: George Soros, Oil, & Lessons For India
Syria’s Survival Is Blow to Jihadists
Despite last-ditch efforts by Israel and its allies to salvage the “regime change” project in Syria, the looming defeat of the Western-backed jihadists marks a turning point in the modern Middle East.
Chinese state banks suspend North Korean transactions as international pressure to halt nuclear programme grows
Chinese state banks have started suspending transactions through accounts held by North Koreans, making it nearly impossible to do business between the two countries, according to sources familiar with the situation.
North Korea has enough oil to survive embargo
On edge: ‘New Cold War’ tensions high in Eastern Europe
Building a bigger, better BRICS wall against the West’s global order
## Migrants/refugees ##
‘Uncontacted’ Amazon Tribe Members Are Reported Killed in Brazil
What Happened?! — Video Emerges of Hillary Clinton Saying Illegal Immigrant Children Have to Go
As Hillary Clinton begins a book tour to promote her 2016 campaign autopsy “What Happened,” video has begun to swirl online of a 2014 interview between her and CNN’s Christiane Amanpour to promote her previous book, “Hard Choices.”
During the exchange, Clinton had some tough words for the children of illegal immigrants, including waves of unaccompanied minors coming in 2014 — telling Amanpour that the United States was a nation of laws and that they probably had to go.
“We have to send a clear message, just because your child gets across the border, that doesn’t mean the child gets to stay,” said Clinton “So, we don’t want to send a message that is contrary to our laws or will encourage more children to make that dangerous journey.”
## Energy/resources ##
Niger Delta Militants Rescind Threat Against Oil Majors
Australian chief scientist advocates coal-fired power extensions
Australia faces heightened blackout risks next summer – electricity operator
Brazil cancels 25 wind, solar power projects at request of firms
Brazil’s power sector has been rattled by a combination of slumping demand, rising construction costs and reduced credit availability as the country has gone through its harshest recession on record.
IAEA report: Nuclear power expansion to slow before growing again
Hurricane Season Weighs On Gulf Of Mexico Production
## Got food? ##
Worry About Florida Farmland Advances Along With Irma
This High-Tech Vertical Farm Promises Whole Foods Quality at Walmart Prices
SoftBank-backed Plenty is out to build massive indoor farms on the outskirts of every major city on Earth.
## Environment/health ##
NASA satellites are tracking hurricanes Katia, Irma and Jose and the images are staggering
Mice can be turned into Walking Dead-style zombie killers, scientists discover
Bats ‘tricked’ into flying into buildings
Modern buildings with large expanses of glass or mirrored surfaces are “potentially dangerous” for bats, research suggests.
Ship exhaust makes oceanic thunderstorms more intense
Thunderstorms directly above two of the world’s busiest shipping lanes are significantly more powerful than storms in areas of the ocean where ships don’t travel, according to new research.
A new study mapping lightning around the globe finds lightning strokes occur nearly twice as often directly above heavily-trafficked shipping lanes in the Indian Ocean and the South China Sea than they do in areas of the ocean adjacent to shipping lanes that have similar climates.
The difference in lightning activity can’t be explained by changes in the weather, according to the study’s authors, who conclude that aerosol particles emitted in ship exhaust are changing how storm clouds form over the ocean.
The new study is the first to show ship exhaust can alter thunderstorm intensity. The researchers conclude that particles from ship exhaust make cloud droplets smaller, lifting them higher in the atmosphere. This creates more ice particles and leads to more lightning.
The results provide some of the first evidence that humans are changing cloud formation on a nearly continual basis, rather than after a specific incident like a wildfire, according to the authors. Cloud formation can affect rainfall patterns and alter climate by changing how much sunlight clouds reflect to space.
“It’s one of the clearest examples of how humans are actually changing the intensity of storm processes on Earth through the emission of particulates from combustion,” said Joel Thornton, an atmospheric scientist at the University of Washington in Seattle and lead author of the new study in Geophysical Research Letters, a journal of the American Geophysical Union.
“It is the first time we have, literally, a smoking gun, showing over pristine ocean areas that the lightning amount is more than doubling,” said Daniel Rosenfeld, an atmospheric scientist at the Hebrew University of Jerusalem who was not connected to the study. “The study shows, highly unambiguously, the relationship between anthropogenic emissions – in this case, from diesel engines – on deep convective clouds.”
Will the Sahara Desert Soon Cover Large Parts of South Europe?
With the highest temperatures on record and unprecedented heat waves hitting Europe this year, Africa’s ‘Great Desert’, the Sahara, is set continue its relentless march on the Southern European countries until it occupies more than 30% of Spain just three decades from now.
Cruise Lines Send Ships to Caribbean on Hurricane Rescue Mission
Irma Is the Caribbean’s Most Expensive Storm at $10 Billion and Counting
“There Is No Seawall Whatsoever”: Downtown Miami Flooded; Two Cranes Collapse
Tank failures in Harvey reveal vulnerabilities in storm
California could be hit by an 8.2 mega-earthquake, and damage would be catastrophic
Death toll rises to 90 as aftershocks rock Mexico city
Sea salt around the world is contaminated by plastic, studies show
New studies find microplastics in salt from the US, Europe and China, adding to evidence that plastic pollution is pervasive in the environment.
The Plastic Fantasy That’s Propping Up the Oil Market
## Intelligence/security/internet/cyberwar ##
Saudi government allegedly funded a ‘dry run’ for 9/11
Best Buy stops sale of Russia-based Kaspersky products
Best Buy Co, the No.1 U.S. electronics retailer, is pulling Kaspersky Lab’s cyber security products from its shelves and website, amid concerns that the Moscow-based firm may be vulnerable to Russian government influence.
Putin tells Russia’s tech sector: Ditch foreign software or lose out
Putin said that, in some spheres, state institutions could not work with companies running foreign software because that represented a risk for national cyber-security.
Social Media is A Tool of the CIA: “Facebook, Google and Other Social Media Used to Spy on People”
Facebook Engagement-For-Hire Economy Has Generated More Than 100 Million Fake Likes
Equifax Security Breach Is A Complete Disaster… And Will Almost Certainly Get Worse
Alleged Equifax hackers demand $2.6 million Bitcoin ransom — or else…
CNN Pulled Investigative Team Off Trump-Russia Coverage
CNN executives explicitly told their investigative team to stop looking into potential ties between the Trump administration and Russia following a series of high profile reporting errors led that to the resignation of three journalists in June.
Case study of LAPD and Palantir’s predictive policing tool: same corruption; new, empirical respectability
The Intercept Mistranslates Assad Speech – Smears Syria As Neo-Nazi
The U.S. Oil Patch Has A Serious Cybersecurity Problem
Data swamped US spy agencies put hopes on artificial intelligence
## Propaganda/censorship/fake news/alternative facts ##
Blaming Russia for America’s Racist Crimes
If you believe the New York Times, the Russian state is the diabolical force behind Black voter suppression in North Carolina — and, by imaginary extension, the main suspect for polling irregularities in Black precincts across the country during last year’s election.
Facebook Blames Russia To Deflect From Fraudulent Ad-Sales
“The Guy is Hiding Something”: Top Hillary Advisor Suggests Bernie Colluded With Russia During the Primary
U.N. Enablers of ‘Aggressive War’
U.N. investigative reports, like a new one condemning Syria for alleged sarin use, are received as impartial and credible, but are often just more war propaganda from compromised bureaucrats.
Echoes of Iraq-WMD Fraud in Syria
Just as the West ignored signs in 2002-03 that anti-government Iraqis were fabricating WMD claims, evidence is being brushed aside that Syrian jihadists have ginned up chemical attacks.
## Systemic breakdown/collapse/unsustainability ##
America Can’t Afford to Rebuild
Car-centric Houston struggles after loss of countless autos
On Repairing/Rebuilding 100,000+ Damaged Houses
India’s Traffic Is So Bad It’s Changing the Cars People Buy
## China ##
Cryptocurrency dealers and online lenders feel heat in China
China’s 2nd Biggest Bitcoin Exchange Responds To Report Beijing Is Shutting All Virtual Exchanges
Man jailed for selling VPNs to evade China’s ‘Great Firewall’
Fears among some VPN users on the mainland over whether they will also face punishment for using the services to get round internet censorship
China to Ban Sale of Fossil Fuel Cars in Electric Vehicle Push
Chinese bank ban ‘threatens to tighten chokehold’ on trade with North Korea
Ban applies across the board but cash and barter system offer ways around the sanctions, analysts say
Kyle Bass: “China’s Credit System Is Reaching A Boiling Point”
## UK ##
‘Destitution is routine’: refugees face homelessness even after gaining asylum
Strong painkiller use ‘doubles in 15 years’
Suicide rate for young women highest for 20 years as experts warn of mental health crisis
NHS waiting times ‘driving people to turn to private treatment’
Growing numbers of patients are paying for private treatment to beat rationing and delays for treatment imposed by the cash-strapped NHS.
Children forced to work at cannabis factories as slaves, warns charity
Children are being forced to tend cannabis factories and commit street crimes, a leading charity has warned as it raised the alarm over the hidden toll of child slavery in the UK.
Britain has long struggled to build power plants – and inefficient project management is to blame
Theresa May secretly hatched plan to ‘rig’ parliament straight after losing majority in election
More than two million of the UK’s poorest families will be £50 a week worse off by 2020, report finds
EU Accuses UK of Backtracking: UK MPs Threaten to Block Divorce Payments
British arms sales to repressive regimes soar to £5bn since election
## US ##
Millions Consumed Potentially Unsafe Water in the Past 10 Years
The findings highlight how six decades of industrial dumping, farming pollution, and water plant and distribution pipe deterioration have taken a toll on local water systems.
Harvey’s floodwaters give way to festering piles of garbage
Bonds – a hidden risk to the economy
Harvey Hits Chain Restaurants – But Not Just Harvey
Officer Arrested Utah Nurse After He Was Told to Let Her Go, Police Chief Says
Utah hospital to police: Stay away from our nurses
Anaheim considers declaring local emergency as homeless population continues to grow along Santa Ana River trail
Hurricane Harvey probably shaved 1% from third-quarter growth, Goldman Sachs says
Clinton Says She Is ‘Done With Being a Candidate’
Coconut Grove Faces 38-Month Supply Of Luxury Condos Listed For Sale
The Clinton Private Rooftop Garden: An Obscene Violation Of Charity Law & Principles