Golden Era?

Art Of The Deal Great Reset 17 Comments

I’m skeptical that revaluing gold would change much in the finances of the US government, or any other government for that matter, but I’m curious to hear what SDA readers think.

Here’s my take: despite a legislative quirk that pegs the dollar price of gold at a ridiculously low level, I’m quite certain that the creditors to Uncle Sam have already pegged it implicitly at it’s true dollar price. It’s as if your farm was valued at $2 million and you owed $1 million, but your balance sheet hadn’t been updated in years. It’s quite likely that your creditors would have already recalculated that balance sheet for you, or they would not have lent you the money in the first place. Readjust your balance sheet and you will find that you still owe $1 million.

US gold re-marking would have implications for both the Treasury & Fed balance sheets.

  • US Treasury: assets would rise by the value of the gold re-marking & liabilities would rise by the size of gold certificates issued to the Fed.
  • Federal Reserve: assets would rise by value of gold certificates & liabilities would rise by a crediting of cash in the Treasury cash balance (Exhibit 4). And here is the punchline: the Fed balance sheet impact would look like QE though no open market purchases would be required & Fed liability growth would initially be in TGA.

In other words, the best of all words: a QE-like operation, one which see the Fed quietly funnel almost $700 billion in cash to the Treasury… but without actually doing a thing!

Change is a constant in the universe, but many oilfield services are feeling the brunt of it

Drill, Baby, Drill 20 Comments
This is the heart of the Viewfield Bakken, just two miles west of Stoughton with Highway 13 on the north edge. Count all the wells in this two-section block highlighted in yellow. Half of those wells cover the other side of the road. The remaining are within these two sections. It is now possible to essentially replace all of those wells with just one, singlular open hole multi-lateral with two mile-long laterals. And three mile-long laterals are on their way, which would add one more section. In this case, there are 23 lease pads within that block (not counting the ones on the north side of the road). Similar exposure to the reservoir can now be done with just one lease pad. Google Earth.

My stomach has been tied up in knots for months as to whether I should write this story. In Saskatchewan, most of the oilfield jobs are in the oilfield services. And I’ve had more conversations than I can count as to “why things are slow.” It’s not just oil prices, which aren’t great. There is a major technological change that is happening that is impacting much of the industry. I finally decided people need to know what is actually going on in as fulsome way as possible.

I’ve always told my kids, “Do you want me to sugar coat things or tell it to you straight?” They’ve always wanted it straight. So that’s what I’m doing here.

The ‘next big thing’ is big multi-lateral wells – but the impact is devastating to many oilfield services

Get Ready for the Firehose of Prosperity…

Gradually Then Suddenly It's Probably Nothing 32 Comments

Canada to avoid recession in 2025; economist predicts ‘firehose of monetary and fiscal policy support’ https://t.co/0j2aZsF08X

 

“After a steep decline, we’re coming back a little bit,” Desjardins told Yahoo Finance Canada in an interview. “We’re in this period of slow growth, just treading water.”…

“While not an economic rebound to write home about, it does suggest that a 2025 recession in Canada isn’t a foregone conclusion,” he wrote in a report earlier this month. “The Canadian economy isn’t out of the woods yet.”

The federal government is due to release its fall budget in November. Prime Minister Mark Carney has said it will feature “the biggest investment in this country’s future in a generation.”

“A leak from a senior official [suggests] that the Government of Canada’s deficit could reach $100 billion this year when the long‑overdue federal budget is released on November 4,” Bartlett wrote.

Maybe it’s tent sales that will bring Canada out of this recession?

When The FBI Does It, That Means That It’s Not Illegal

Drain The Swamp Russiagate 8 Comments

Roger Kimball;

In the matter of James Brien Comey Jr., how finds the court? I do not mean a court of law. I mean the tribunal of history.

Granted, we will be hearing from a Virginia court of law about JBC quite soon. On Thursday, Comey became the first former FBI director in history to be indicted by a grand jury for a felony. The charges? Lying to Congress and obstructing justice. (For the legal eagles among you, the statutes in question are USC 18 §1001 and USC 18 §1505.)

Call it karma, irony, or just good old-fashioned just desserts: whatever your literary preference, there is a delicious symmetry in the fact that USC 18 §1001—which prohibits making “any materially false, fictitious, or fraudulent statement” to a government official—was the statute under which Comey tormented and bankrupted General Mike Flynn, Donald Trump’s National Security Advisor for a few weeks in 2017.

The Revolution Will Be Streamed

Baiting The Left Freespeechers Historical Events 6 Comments

I’ve been traveling a lot recently and somewhat out of touch with the news. While driving today, I was playing a bunch of shows from Podcast of the Lotus Eaters and listened to this episode. I had heard a little bit about the Generation Z revolution in Nepal, but had no idea that Harry Jackson, an English traveler/vlogger had captured much of it live. The videos he captured are unreal. If you only want to watch one, let it be this one. A story about all of this can be read here.

Update: More context on what helped start this revolution.

A Sober Look at the Education System

Baiting The Left Children R Our Future 14 Comments

This is technically a comedy video about the American Education System, but I’m hoping some Canadian teachers will chime in about their experiences.

Two of the top-rated comments hit strong chords:

  • A good friend of mine from college quit teaching a few years ago. She had won awards. She told me that she averaged 35 kids per class, with 30 desks. The most textbooks she had for any of her 7 classes was 28. She would go to businesses (law firms were pretty good to help out) to beg for pens, legal pads, post-it notes for her kids. She was living like a broke college student, while being in her 50’s. The day she quit, she was walking out to the parking lot with the principal. He was so happy that his bonus for the year would pay off his new BMW X5, and my friend just stared at her 15 year old VW. Something like 70% of every dollar spent on Education goes to “administrative costs”. Not teacher salaries, not materials for students, not learning programs.
  • The worst part is that public school caters to the lowest common denominator. Kids that are actually way ahead of their classes are forced to sit there in boredom while everyone else catches up (k-12). Personally experienced it. I burned out at about sophomore year of high school and just did what i considered the minimum and still made all As K-12 without really trying. The issue is that since i wasn’t challenged i had a ton of issues in college since i didn’t know how to properly study for anything, and I know i’m not the only one who experienced that.

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