Currency Trading Quotes

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This is the currency of friendship, traded over years and miles, and I hope it's an even exchange someday. For now, I do what all best friends do when there's nothing left to say. We lie together in all the darkness, shoulder to shoulder, and wait for the worst to be over.
Emery Lord (Open Road Summer)
The writing of poetry is a chancy business, it's currency solitude and loss, its tools coffee and too much wine, its hours midnight, dawn, and dusk, and unlike other trade the hours asleep are not time off.
Keith Miller (The Book of Flying)
Don’t trade emotional currency with strangers. You will never get a refund.
Tessa Bailey (Window Shopping)
Ah yes, jobs. Once upon a time, souls were traded for immortality or riches. Now we are bought and sold with the promise of jobs. The human spirit is devalued currency. How the devil must be laughing.
Jamie Delano (Hellblazer, Vol. 4: The Family Man)
You’re saying that instead of a system of currency that tracks individual trade, you have one that facilitates exchange through the community. Because … all exchange benefits the community as a whole?
Becky Chambers (A Prayer for the Crown-Shy (Monk & Robot, #2))
World can run without money and currencies but not without business and trade.
Amit Kalantri (Wealth of Words)
So much barbarism, however, still remains in the transactions of most civilized nations, that almost all independent countries choose to assert their nationality by having, to their inconvenience and that of their neighbors, a peculiar currency of their own.
John Stuart Mill
But for some reason, his feelings were hurt. Which was insane. The plan had been for the two of them to use each other. Fair trade. No emotions, just fucking. It was his standard currency. So what the hell was his problem?
J.R. Ward (Blood Fury (Black Dagger Legacy, #3))
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A lot of what we do in relationships involve compromises. A lot of our relationships are exchanges in currencies like affection, acceptance, money, sexual and other sorts of pleasure, shelter, convenience, belonging etc. The self in relation with the communal is always trading something. The important question is what aspect of the self should not be traded.
Dew Platt (Failure&solitude)
Money, rather than men, began to be used as currency for trade with the east.
Peter Frankopan (The Silk Roads: A New History of the World)
Her purse is half open, and I see a hotel room key, a metro ticket, and a hundred-franc note folded in four, like objects brought back by a space probe sent to earth to study how earthlings live, travel, and trade with one another. The sight leaves me pensive and confused. Does the cosmos contain keys for opening up my diving bell? A subway line with no terminus? A currency strong enough to buy my freedom back? We must keep looking. I'll be off now.
Jean-Dominique Bauby (The Diving Bell and the Butterfly: A Memoir of Life in Death)
I feel as though I should say something profound, or enact some rite, or trade something to make it official. I want to transfer some trinket which would allow me to say that she's my girl, some kind of currency that proves to people that she likes me back. Something that would permit me to think about her all the time without feeling guilty or helpless or hopelessly far away. I guess I'm just so excited, I want to cage this thing like a tiny red bird so if can't fly away, so it stays the same, so it's still there the next time. For keeps, like a coin in your pocket. Like a peach pit from Mad Jack Lionel's tree. Like scribbled words in a locked suitcase. A bright balloon to tie to your bedpost. And you want to hug it close, hold it, but not so tight it bursts.
Craig Silvey (Jasper Jones)
In crypto, everyday is not a green day, but true holders will later get paid.
Olawale Daniel
My two favorite colors of the rainbow are gold and leprechaun. At BearPaw Duck Farm, both are acceptable forms of currency for trade.
Jarod Kintz (BearPaw Duck And Meme Farm presents: Two Ducks Brawling Is A Pre-Pillow Fight)
women trade compliments or troubles like currency. Women smile understandingly at your confidences, then use them against you like weapons. Men she finds predictable, and Nisha likes predictability.
Jojo Moyes (Someone Else's Shoes)
Ah yes, jobs. Once upon a time, souls were traded for immortality or riches. Now we are bought and sold with the promise of jobs. The human spirit is devalued currency. How the devil must be laughing.
Grant Morrison (Hellblazer, Vol. 4: The Family Man)
stronger education leads to stronger technological innovation, which leads to increased productivity and increased shares of trade, greater wealth, more military power, and eventually the establishment of a reserve currency. Further, having strong leaders, a population that is well-educated and civil with each other, a system that efficiently allocates capital and other resources, access to natural resources, and favorable geography all help a lot, and when they decline, they tend to decline together.
Ray Dalio (Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail)
Now I happened to be there, in the chewy maelstrom of his life, by his side. He taught me how to live in this fucked up environment. East Oakland. How to deal with the people. Which ones to avoid. The new currency was trading out what you have for what you need. And then maybe trading up for what you want. The new time was not told by the sun. Light or no light, we lived as things happened. I would soon realize there was no other way.
Katya Mills (Grand Theft Life (Daughter of Darkness, #1))
The Maya’s economy was based on extensive occupational specialization, with skilled potters, weavers, woodworkers, and tool and ornament makers. They also traded obsidian, jaguar pelts, marine shells, cacao, salt, and feathers among themselves and other polities over long distances in Mexico. They probably had money, too, and like the Aztecs, used cacao beans for currency. The
Daron Acemoğlu (Why Nations Fail: The Origins of Power, Prosperity, and Poverty)
It is a natural propensity to attribute misfortune to someone’s malignity. When prices rise, it is due to the profiteer; when wages fall, it is due to the capitalist. Why the capitalist is ineffective when wages rise, and the profiteer when prices fall, the man in the street does not inquire. Nor does he notice that wages and prices rise and fall together. If he is a capitalist, he wants wages to fall and prices to rise; if he is a wage earner, he wants the opposite. When a currency expert tries to explain that profiteers and trade unions and ordinary employers have very little to do with the matter, he irritates everybody, like the man who threw doubt on German atrocities. (In World War I) We do not like to be robbed of an enemy; we want someone to have when we suffer. It is so depressing to think taht we suffer because we are fools; yet taking mankind in mass, that is the truth. For this reason, no political party can acquire any driving force except through hatred; it must hold someone to obloquy. If so-and-so’s wickedness is the sole cause of our misery, let us punish so-and-so and we shall be happy. The supreme example of this kind of political thought was the Treaty of Versailles. Yet most people are only seeking some new scapegoat to replace the Germans.
Bertrand Russell (Sceptical Essays (Routledge Classics))
trade futures or foreign currencies. This would be a serious limitation
Ernest P. Chan (Quantitative Trading: How to Build Your Own Algorithmic Trading Business (Wiley Trading))
Your money is just a condition to get my business, your professionalism is the price.
Amit Kalantri
One may not be able to trade in gratitude as a currency, but gratitude is the currency of true wealth." - L. R. W. Lee
L.R.W. Lee (Blast of the Dragon's Fury (Andy Smithson, #1))
The sad reality of Mankind: Faith is the currency people trade in, through their ego and selfish ways.
Unarine Ramaru
eight measures of power: education, competitiveness, innovation/technology, trade, economic output, military, financial center status, and reserve currency status.
Ray Dalio (Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail)
The feminine continues to be a form of currency, to be traded for money or gender status: undeserving of emotional investment in itself.
Antonella Gambotto-Burke (Apple: Sex, Drugs, Motherhood and the Recovery of the Feminine)
the weaponizing of the US dollar has created a powerful global incentive to create an alternative currency for global trading purposes.
Kishore Mahbubani (Has China Won? The Chinese Challenge to American Primacy)
Thinking can not trade in metaphors directly. It must trade in a more basic currency that captures the abstract concepts shared by the metaphor and its topic […] while sloughing off the irrelevant bits.
Steven Pinker (The Stuff of Thought: Language as a Window into Human Nature)
Trade may seem a very pragmatic activity, one that needs no fictive basis. Yet the fact is that no animal other than Sapiens engages in trade, and all Sapiens trade networks were based on fictions. Trade cannot exist without trust, and it is very difficult to trust strangers. The global trade network of today is based on our trust in such fictional entities as currencies, banks and corporations. When two strangers in a tribal society want to trade, they establish trust by appealing to a common god, mythical ancestor or totem animal. In modern society, currency notes usually display religious images, revered ancestors and corporate totems.
Yuval Noah Harari (Sapiens: A Brief History of Humankind)
Not only the portraits on the walls, but also the shelves in the library were thinned out. The disappearance of certain books and brochures happened discretely, usually the day after the arrival of a new message from above. Rubashov made his sarcastic commentaries on it while dictating to Arlova, who received them in silence. Most of the works on foreign trade and currency disappeared from the shelves – their author, the People’s Commissar for Finance, had just been arrested; also nearly all old Party Congress reports treating the same subject; most books and reference-books on the history and antecedents of the Revolution; most works by living authors on problems of birth control; the manuals on the structure of the People’s Army; treatises on trade unionism and the right to strike in the People’s State; practically every study of the problems of political constitution more than two years old, and, finally, even the volumes of the Encyclopedia published by the Academy – a new revised edition being promised shortly. New books arrived, too: the classics of social science appeared with new footnotes and commentaries, the old histories were replaced by new histories, the old memoirs of dead revolutionary leaders were replaced by new memoirs of the same defunct. Rubashov remarked jokingly to Arlova that the only thing left to be done was to publish a new and revised edition of the back numbers of all newspapers.
Arthur Koestler (Darkness at Noon)
Pickleball IS life. In fact, the game should replace fiat currency as a facilitator of trade. If you want to sell something tangible like a duck, why price it in dollars? Just haggle over units of pickleball play equal in value to a swimming bird.
Jarod Kintz (Powdered Saxophone Music)
He attacked Oriati Mbo with all his powers. Schools to seduce the young. Banks to issue loans, loans to put Oriati into debt, debt to give him an excuse to seize their land and property. He built toll roads and canals for exclusive trade. He gave his allies inoculations against disease. He brutalized the Oriati currencies with counterfeiting and debasement, flooding their continent with fake money so they would turn to the stable, reliable Falcresti fiat note as their trade coin. It was precisely how he captured Taranoke. It failed utterly.
Seth Dickinson (The Monster Baru Cormorant (The Masquerade, #2))
When the thirst for wealth becomes general, it will be sought for as well dishonestly as honestly; by frauds and overreachings, by the knaveries of trade, the heartlessness of greedy speculation, by gambling in stocks and commodities that soon demoralizes a whole community. Men will speculate upon the needs of their neighbors and the distresses of their country. Bubbles that, bursting, impoverish multitudes, will be blown up by cunning knavery, with stupid credulity as its assistants and instrument. Huge bankruptcies, that startle a country like the earth-quakes, and are more fatal, fraudulent assignments, engulfment of the savings of the poor, expansions and collapses of the currency, the crash of banks, the depreciation of Government securities, prey on the savings of self-denial, and trouble with their depredations the first nourishment of infancy and the last sands of life, and fill with inmates the churchyards and lunatic asylums.
Albert Pike (Morals And Dogma (Illustrated))
When I worked as a concierge, I loved getting a pat on the back from a guest, because it's like a tip, only better, because it doesn't devalue like fiat currency, and it will buy me food at the store. Oh yes, shared body language is the best facilitator of trade, and here on my duck farm I accept high-fives for eggs.
Jarod Kintz (Music is fluid, and my saxophone overflows when my ducks slosh in the sounds I make in elevators.)
No one is alone in this world. No act is without consequences for others. It is a tenet of chaos theory that, in dynamical systems, the outcome of any process is sensitive to its starting point-or, in the famous cliche, the flap of a butterfly's wings in the Amazon can cause a tornado in Texas. I do not assert markets are chaotic, though my fractal geometry is one of the primary mathematical tools of "chaology." But clearly, the global economy is an unfathomably complicated machine. To all the complexity of the physical world of weather, crops, ores, and factories, you add the psychological complexity of men acting on their fleeting expectations of what may or may not happen-sheer phantasms. Companies and stock prices, trade flows and currency rates, crop yields and commodity futures-all are inter-related to one degree or another, in ways we have barely begun to understand. In such a world, it is common sense that events in the distant past continue to echo in the present.
Benoît B. Mandelbrot (The (Mis)Behavior of Markets)
It is an odd thing to imagine yourself as someone who may have more value dead, or dying. But surely, if the emotions attached to your vanishing can be currency, isn't your vanishing, itself, something to trade? I don't know what to make of this: the white man who posts on the internet, vigorously, about his disgust with our country's racism. When I approach him about an inappropriate, boundary-crossing behavior, he pretends not to hear me. This is all, it seems, deeper than simply an idea of liberal performance for point scoring. It is the inability to see a body as worthwhile if it doesn't have a value you can trade in on, some sentimental cash out.
Hanif Abdurraqib (They Can't Kill Us Until They Kill Us)
Trade cannot exist without trust, and it is very difficult to trust strangers. The global trade network of today is based on our trust in such fictional entities as currencies, banks and corporations. When two strangers in a tribal society want to trade, they establish trust by appealing to a common god, mythical ancestor or totem animal.
Yuval Noah Harari (Sapiens: A Brief History of Humankind)
Because the dollar is the dominant currency in world trade, capital flows, and reserves, it is the world’s leading reserve currency, which puts the US in the enviable position of being able to print the world’s money and to inflict sanctions on its enemies. The US now has an arsenal of sanctions, which is its most used arsenal of weapons.
Ray Dalio (Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail)
you know how I feel about the United Nations. From the beginning, it’s functioned as a one-world-order organization whose sole function is to look down its collective nose at the one nation that funds it, the United States. The UN has advocated the transfer of wealth out of the United States, the elimination of international borders, the establishment of a single global currency, international gun control, and the elimination of American jobs. It’s become a friendly forum for radical and scientifically absurd ideas like global warming and has advocated cockamamie international tax schemes like cap-and-trade. It has done everything it can to end the sovereignty of the United States.
Don Brown (Thunder in the Morning Calm (Pacific Rim #1))
Let us imagine the lineaments of an economics of disorder, disequilibrium, and surprise that could explain and measure the contributions of entrepreneurs. Such an economics would begin with the Smithian mold of order and equilibrium. Smith himself spoke of property rights, free trade, sound currency, and modest taxation as conditions necessary for prosperity. He was right: disorder, disequilibrium, chaos, and noise inhibit the creative acts that engender growth. The ultimate physical entropy envisaged as the heat death of the universe, in its total disorder, affords no room for invention or surprise. But entrepreneurial disorder is not chaos or mere noise. Entrepreneurial disorder is some combination of order and upheaval that might be termed “informative disorder.
George Gilder (Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World)
America has, in fact, run trade deficits large enough to wipe out its gold hoard under the old rules of the game. Still, the idea of the gold standard was not to deplete nations of gold, but rather to force them to get their financial house in order long before the gold disappeared. In the absence of a gold standard and the real-time adjustments it causes, the American people seem unaware of how badly U.S. finances have actually deteriorated.
James Rickards (Currency Wars: The Making of the Next Global Crisis)
China is now roughly tied with the US in being the leading power in trade, economic output, and innovation and technology, and it is a strong and quickly rising military and educational power. It is an emerging power in the financial sector but is lagging as a reserve currency and financial center. We will explore all of this in more detail later in the chapter, but in order to understand China’s present we first need to wade into its tremendous history.
Ray Dalio (Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail)
She was a queen Raised to sit on a golden throne In a kingdom of crystal and ice All I had to offer was my sword of smoke and world of gasoline With soldiers shielded by leather and coated in tatts My currency was love and loyalty In a market that traded in diamonds and class I would do anything to convince her That she might have been raised to sit on a golden throne But she belonged on the seat of iron with a crown of steel At my side.
Giana Darling (After the Fall (The Fallen Men, #4))
I do not know how much money Britney Spears earned last year.. However, I do know that it's not enough for me to want her life, were I given the option to have it. Every day, random people use Britney's existence as currency; they talk about her public failures and her lack of talent as a way to fill the emptiness of their own normalcy. She — alone with Lindsay Lohan and Paris Hilton and all those androids from The Hills — are the unifying entities within this meta era. In a splintered society, they are the means through which people devoid of creativity communicate with each other. THey allow Americans to understand who they are and who they are not; they allow Americans to unilaterally agree on something they never needed to consciously consider. A person like Britney Spears surrenders her privacy and her integrity and the rights to her own persona, and in exchange we give her huge sums of money. But she still doesn't earn a fraction of what she warrants in free-trade economy. If Britney Spears were paid $1 every time a self-loathing stranger used her as a surrogate for his own failure, she would out earn Warren Buffet in three months. This is why entertainers (and athletes) make so much revenue but are still wildly underpaid: We use them for things that are worth more than money. It's a new kind of dehumanizing slavery — not as awful as the literal variety, but dehumanizing nonetheless.
Chuck Klosterman (Bending Spoons with Britney Spears: An Essay from Chuck Klosterman IV)
The basic reason for Germany’s lack of competitiveness, however, was not political in this crude sense. The basic problem was the uncompetitive exchange rate of the Reichsmark. As we have seen, this fundamental misalignment had first emerged in the autumn of 1931 after the devaluation of sterling. The second shock had come in April 1933 with the devaluation of the dollar. By 1933 only 20 per cent of world trade was still conducted between countries with currencies fixed in terms of gold. Germany’s failure to follow this trend meant that the prices of its exports, translated at the official exchange rate of the Reichsmark, were grossly uncompetitive. This was not a matter of particular industries or sectors. It was not a matter of high wages, or excessive taxes and social levies. At prevailing exchange rates, the entire system of prices and wages in Germany was out of line with that prevailing in most of the rest of the world economy.
Adam Tooze (The Wages of Destruction: The Making and Breaking of the Nazi Economy)
The root of all evil, the liberal insists, was precisely this interference with the freedom of employment, trade and currencies practiced by the various schools of social, national, and monopolistic protectionism since the third quarter of the nineteenth century; but for the unholy alliance of trade unions and labor parties with monopolistic manufacturers and agrarian interests, which in their shortsighted greed joined forces to frustrate economic liberty, the world would be enjoying today the fruits of an almost automatic system of creating material welfare. Liberal leaders never weary of repeating that the tragedy of the nineteenth century sprang from the incapacity of man to remain faithful to the inspiration of the early liberals; that the generous initiative of our ancestors was frustrated by the passions of nationalism and class war, vested interests, and monopolists, and above all, by the blindness of the working people to the ultimate beneficence of unrestricted economic freedom to all human interests, including their own. A great intellectual and moral advance was thus, it is claimed; frustrated by the intellectual and moral weaknesses of the mass of the people; what the spirit of Enlightenment had achieved was put to nought by the forces of selfishness. In a nutshell this is the economic liberal’s defense. Unless it is refuted, he will continue to hold the floor in the contest of arguments.
Karl Polanyi (The Great Transformation: The Political and Economic Origins of Our Time)
Squatters. The dispossessed. The water rats. Denizens of the deep, citizens of the shallows. And a lot of them were interested in trying something different, including which authorities they gave their consent to be governed by. Hegemony had drowned, so in the years after the flooding there was a proliferation of cooperatives, neighborhood associations, communes, squats, barter, alternative currencies, gift economies, solar usufruct, fishing village cultures, mondragons, unions, Davy’s locker freemasonries, anarchist blather, and submarine technoculture, including aeration and aquafarming. Also sky living in skyvillages that used the drowned cities as mooring towers and festival exchange points; containerclippers and townships as floating islands; art-not-work, the city regarded as a giant collaborative artwork; blue greens, amphibiguity, heterogeneticity, horizontalization, deoligarchification; also free open universities, free trade schools, and free art schools.
Kim Stanley Robinson (New York 2140)
At least a dozen different so-called good institutions have been identified. Without attempting to rank them in order of importance, but just listing them alphabetically, they include: control of inflation, educational opportunities, effectiveness of government, enforcement of contracts, freedom from trade barriers, incentives and opportunities for investment of capital, lack of corruption, low risk of assassination, open currency exchange, protection of private property rights, rule of law,
Jared Diamond (Guns, Germs, and Steel: The Fates of Human Societies (20th Anniversary Edition))
Chen shared a story with me about his in-laws. It was shortly after the 2008 financial crisis. Chen had no reason to expect his in-laws were worried. They were in their eighties and they were financially secure. The crash had not hurt their lifestyle. But they watched the response to the crisis from governments around the world, and they remembered what they had seen before. He asked them why they were worried. Their answer stayed with him: “First currency wars, then trade wars, then real wars.
Jeff Booth (The Price of Tomorrow: Why Deflation is the Key to an Abundant Future)
How is forex traded? The main idea of forex is that you’re buying one currency and at the same time, selling another. Currencies are normally quoted in pairs, like EUR/USD or USD/SGD. The exchange rate represents the purchase price between the two currencies. In EUR/USD ratio, This represents the number of US Dollars in every Euro you have. If you think the Euro will increase in value against the US Dollar from the last exchange rate, you buy Euros with US Dollars and you cash in profit from that.
Brayden Tan (What school don't teach you about money)
The euro fell to as low as $1.18605, its weakest level since March 2006, having fallen below an important support at $1.20. The common currency last traded at $1.1926, down 0.6 percent from late U.S. trade on Friday. In an interview with German financial daily Handelsblatt published on Friday, ECB President Mario Draghi said the risk of the central bank not fulfilling its mandate of preserving price stability was higher now than half a year ago. "The market took his comments to mean that he is ready to adopt quantitative easing," said Shin Kadota, chief forex strategist at Barclays in Tokyo.
Anonymous
There is indeed a poetical attitude to be adopted towards all things, but all things are not fit subjects for poetry. Into the secure and sacred house of Beauty the true artist will admit nothing that is harsh or disturbing, nothing that gives pain, nothing that is debatable, nothing about which men argue. He can steep himself, if he wishes, in the discussion of all the social problems of his day, poor-laws and local taxation, free trade and bimetallic currency, and the like; but when he writes on these subjects it will be, as Milton nobly expressed it, with his left hand, in prose and not in verse, in a pamphlet and not in a lyric. This exquisite spirit of artistic choice was not in Byron: Wordsworth had it not. In the work of both these men there is much that we have to reject, much that does not give us that sense of calm and perfect repose which should be the effect of all fine, imaginative work. But in Keats it seemed to have been incarnate, and in his lovely ODE ON A GRECIAN URN it found its most secure and faultless expression; in the pageant of the EARTHLY PARADISE and the knights and ladies of Burne-Jones it is the one dominant note. It is to no avail that the Muse of Poetry be called, even by such a clarion note as Whitman’s, to migrate from Greece and Ionia and to placard REMOVED and TO LET on the rocks of the snowy Parnassus. Calliope’s call is not yet closed, nor are the epics of Asia ended; the Sphinx is not yet silent, nor the fountain of Castaly dry. For art is very life itself and knows nothing of death; she is absolute truth and takes no care of fact; she sees (as I remember Mr. Swinburne insisting on at dinner) that Achilles is even now more actual and real than Wellington, not merely more noble and interesting as a type and figure but more positive and real.
Oscar Wilde (The English Renaissance of Art)
If you are going to use probability to model a financial market, then you had better use the right kind of probability. Real markets are wild. Their price fluctuations can be hair-raising-far greater and more damaging than the mild variations of orthodox finance. That means that individual stocks and currencies are riskier than normally assumed. It means that stock portfolios are being put together incorrectly; far from managing risk, they may be magnifying it. It means that some trading strategies are misguided, and options mis-priced. Anywhere the bell-curve assumption enters the financial calculations, an error can come out.
Benoît B. Mandelbrot (The (Mis)Behavior of Markets)
The moment American bankers stop lending dollars to Argentina, the country is unable to refinance its mountain of dollar debt. Again, Greece is similar. Even though it has the same currency as Germany, the euro, the chronic Greek trade deficit with Germany translates into a constant flow of loaned euros from Germany to Greece so that the Greeks can keep buying more and more German goods. The slightest interruption in the flow of new loans from the surplus country to the deficit country causes the whole house of cards to collapse. This is when the IMF steps in. Its personnel fly into Buenos Aires or Athens, take black limousines to the finance minister’s office and state their terms: we shall lend you the missing dollars or euros on condition that you impoverish your people and sell the family silver to our mates, the oligarchs of this country and the world. Or words to that effect. That’s when TV screens fill with images of angry, and often hungry, demonstrators in Buenos Aires or Athens. Time and again history has shown that the periodic economic recessions that result from trade imbalances poison the deficit country’s democracy, incite contempt for its people in the surplus country, which then prompts xenophobia in the deficit country. Simply put, sustained trade deficits – and surpluses, their mirror image – never end well.
Yanis Varoufakis (Another Now: Dispatches from an Alternative Present)
Using an example of how this would work in a more relatable scenario. If you were to imagine a hacker accessing the computer system of your bank and transferring all your funds from your own account into his and deleting all evidence of the transaction, existing technology would not be able to pick this up and you would likely be out of pocket. In the case of a blockchain currency like Bitcoin, having one server hacked with a false transaction being inserted into the database would not be consistent with the same record across the other copies of the database. The blockchain would identify the transaction as being illegitimate and would ultimately reject it meaning the money in your account would be kept safe.
Chris Lambert (Cryptocurrency: How I Turned $400 into $100,000 by Trading Cryptocurrency for 6 months (Crypto Trading Secrets Book 1))
How, then, did it happen that this same France forty years later came to be crushed on the battlefield by a nation it outnumbered fivefold? Why should its noblemen be split up into factions, its bourgeoisie in revolt, its people overwhelmed by excessive taxation, its provinces lawless and plagued by roving gangs engaged in pillaging and crime, all authority flouted, the currency weakened, trade at a standstill, and poverty and violence rife everywhere? Why this collapse? What caused this reversal of fortune? It was mediocrity. The mediocrity of just a few kings, their vanity and self-importance, their frivolousness in the conduct of their affairs, their inability to attract talented advisors, their nonchalance, their presumptuousness, their failure to draw up grand designs or even to follow those already conceived.
Maurice Druon (The King Without a Kingdom (The Accursed Kings, #7))
McDougall was a certified revolutionary hero, while the Scottish-born cashier, the punctilious and corpulent William Seton, was a Loyalist who had spent the war in the city. In a striking show of bipartisan unity, the most vociferous Sons of Liberty—Marinus Willett, Isaac Sears, and John Lamb—appended their names to the bank’s petition for a state charter. As a triple power at the new bank—a director, the author of its constitution, and its attorney—Hamilton straddled a critical nexus of economic power. One of Hamilton’s motivations in backing the bank was to introduce order into the manic universe of American currency. By the end of the Revolution, it took $167 in continental dollars to buy one dollar’s worth of gold and silver. This worthless currency had been superseded by new paper currency, but the states also issued bills, and large batches of New Jersey and Pennsylvania paper swamped Manhattan. Shopkeepers had to be veritable mathematical wizards to figure out the fluctuating values of the varied bills and coins in circulation. Congress adopted the dollar as the official monetary unit in 1785, but for many years New York shopkeepers still quoted prices in pounds, shillings, and pence. The city was awash with strange foreign coins bearing exotic names: Spanish doubloons, British and French guineas, Prussian carolines, Portuguese moidores. To make matters worse, exchange rates differed from state to state. Hamilton hoped that the Bank of New York would counter all this chaos by issuing its own notes and also listing the current exchange rates for the miscellaneous currencies. Many Americans still regarded banking as a black, unfathomable art, and it was anathema to upstate populists. The Bank of New York was denounced by some as the cat’s-paw of British capitalists. Hamilton’s petition to the state legislature for a bank charter was denied for seven years, as Governor George Clinton succumbed to the prejudices of his agricultural constituents who thought the bank would give preferential treatment to merchants and shut out farmers. Clinton distrusted corporations as shady plots against the populace, foreshadowing the Jeffersonian revulsion against Hamilton’s economic programs. The upshot was that in June 1784 the Bank of New York opened as a private bank without a charter. It occupied the Walton mansion on St. George’s Square (now Pearl Street), a three-story building of yellow brick and brown trim, and three years later it relocated to Hanover Square. It was to house the personal bank accounts of both Alexander Hamilton and John Jay and prove one of Hamilton’s most durable monuments, becoming the oldest stock traded on the New York Stock Exchange.
Ron Chernow (Alexander Hamilton)
The current narrative we seem to tell ourselves about our privacy is that it is a sort of currency we trade to corporations in return for innovation. But the corporation has an insatiable appetite for our most personal data in order to drive us to consume during our every waking moment. I think this is critical, because in some ways social networks are powerful engines of conformity. The ability for students to develop their own ideas, identities, and political affiliations should take place outside of the panopticon view of Facebook, but whether this is any longer possible is an open question. My own memory is that the development of my political and cultural persona between the ages of fifteen and twenty-one had a lot to do with being outside the zone of judgment of my parents, their conservative peers from my hometown, Cleveland, and maybe even from my siblings. I’m not sure that it could happen if we were all on Facebook together.
Jonathan Taplin (Move Fast and Break Things: How Facebook, Google, and Amazon Cornered Culture and Undermined Democracy)
In 1832, Andrew Jackson, today a folk hero to American free-marketeers, refused to renew the license for the quasi-central bank, the second bank of the USA - the successor to Hamilton's Bank of the USA (see chapter 2). This was done on the grounds that the foreign ownership share of the bank was too high -30% (the pre-EU Finns would have heartily approved!). Declaring his decision, Jackson said: 'should the stock of the bank principally pass into the hands of the subjects of a foreign country, and we should unfortunately become involved in a war with that country, what would be our condition?........Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence, it would be far more formidable and dangerous than the naval and military power of the enemy. If we must have a bank...it should be purely American.' If the president of a developing country said something like this today, he would be branded a xenophobic dinosaur and blackballed in the international community.
Ha-Joon Chang (Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism)
Women select short-term sexual relationships when men cannot improve their children’s survival, when there are too few men, or when their upbringing has signaled that men are unreliable investors in their progeny. Short-term relationships for women often amount to serial monogamy in response to a population of males, none of whom can or will provide sustained economic and emotional commitment. And if she can maintain her attractiveness in the face of her increasing age, decreasing looks, and the handicap (from a prospective partner’s viewpoint) of already born children, she can also gain the advantage of genetic diversity and perhaps better genetic quality in her children. But the most secure and stable route is to attract a male who will commit, providing the long-term assistance and resources that she needs to raise multiple offspring simultaneously. Unfortunately that idea has occurred to other women also and she is in a competitive market-place. The currency of the marketplace is what men want in a female partner. To trade successfully, she must advertise her assets by showing that she has more desirable qualities than her female rivals.
Anne Campbell (A Mind of Her Own: The Evolutionary Psychology of Women)
And I’m not kidding when I say “craziness.” The University of St. Gallen, Switzerland, has come out with a study that compares traders with psychopaths. The study reviewed the results from an existing study comparing 24 psychopaths in German high-security hospitals with a control group of 27 “normal” people. The funny thing is, this control group of “normal” people turned out to be traders. Stock guys, currency and commodity traders, and derivative types happened to be the normal control group that was stacked up against the high-security, barbed-wire-enclosed psychopaths. In the end, the performance of the trading group was actually worse than that of the psychopaths. The study indicated that traders, “Have a penchant for immense destruction,” and that their mindset would lead them to the logical conclusion of “beating one of the neighbor’s expensive cars with a baseball bat with the sole objective of owning the most beautiful car in the neighborhood.” In other words, traders are nuts. Indeed if you look up the textbook definition of a psychopath, here are some of the tidbits you’ll uncover: antisocial behavior, poor judgment and failure to learn from experience, inability to see oneself as others do, inexplicable impulsiveness … sounds like a typical trader who is struggling against the market and can’t figure out why.
John F. Carter (Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups)
Thought is measured by a different rule, and puts us in mind, rather, of those souls whose number, according to certain ancient myths, is limited. There was in that time a limited contingent of souls or spiritual substance, redistributed from one living creature to the next as successive deaths occurred. With the result that some bodies were sometimes waiting for a soul (like present-day heart patients waiting for an organ donor). On this hypothesis, it is clear that the more human beings there are, the rarer will be those who have a soul. Not a very democratic situation and one which might be translated today into: the more intelligent beings there are (and, by the grace of information technology, they are virtually all intelligent), the rarer thought will be. Christianity was first to institute a kind of democracy and generalized right to a personal soul (it wavered for a long time where women were concerned). The production of souls increased substantially as a result, like the production of banknotes in an inflationary period, and the concept of soul was greatly devalued. It no longer really has any currency today and it has ceased to be traded on the exchanges. There are too many souls on the market today. That is to say, recycling the metaphor, there is too much information, too much meaning, too much immaterial data for the bodies that are left, too much grey matter for the living substance that remains. To the point where the situation is no longer that of bodies in search of a soul, as in the archaic liturgies, but of innumerable souls in search of a body. Or an incalculable knowledge in search of a knowing subject.
Jean Baudrillard (The Intelligence of Evil or the Lucidity Pact (Talking Images))
The world is in the midst of a war, but it is not the kind of war you may be imagining. It is a currency war in which nations compete to lower the value of their currency in order to help their industries gain greater profits from exports. The currency disputes have arisen from a conflict of interest between the United States and China. The U.S. has been struggling against a massive fiscal deficit and foreign debt in recent years, especially since the global financial crisis. With so much at stake, the era of U.S. dollar hegemony seems to be ending. China has been raking in profits from its biggest export market, the U.S., by keeping its yuan, also known as the renminbi, undervalued. China has also been purchasing U.S. treasury bonds to add to its foreign reserves, worth more than $2 trillion. In September, the U.S. House of Representatives passed the Currency Reform for Fair Trade Act with a vote of 348 to 79. Under the bill, the U.S. is allowed to slap tariffs on goods from China and other countries with currencies that are perceived to be undervalued. Basically, the U.S. is pushing China to allow the yuan to appreciate. “For so many years, we have watched the China-U.S. trade deficit grow and grow and grow,” House Speaker Nancy Pelosi said on the day of the vote, which was on Sept. 29 local time. “Today, we are finally doing something about it by recognizing that China’s manipulation of the currency represents a subsidy for Chinese exports coming to the United States and elsewhere.” But China does not want the value of its currency to increase because a stronger yuan will hurt Chinese exporters who will see a decline in exports to the U.S. once the currency’s value rises.
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And spend they did. Money circulated faster and spread wider through its communities of use than at any other time in economic history.8 Workers labored fewer days and at higher wages than before or since; people ate four meals a day; women were taller in Europe than at any time until the 1970s; and the highest percentage on record of business profits went to preventative maintenance on equipment. It was a period of tremendous growth and wealth. Meanwhile, with no way of storing or growing value with this form of money over the long term, people made massive investments in architecture, particularly cathedrals, which they knew would attract pilgrims and tourists for years to come. This was their way of investing in the future, and the pre-Renaissance era of affluence became known as the Age of Cathedrals. The beauty of a flow-based economy is that it favors those who actively create value. The problem is that it disfavors those who are used to reaping passive rewards. Aristocratic landowning families had stayed rich for centuries simply by being rich in the first place. Peasants all worked the land in return for enough of their own harvest on which to subsist. Feudal lords did not participate in the peer-to-peer economy facilitated by local currencies, and by 1100 or so, most or the aristocracy’s wealth and power was receding. They were threatened by the rise of the merchant middle class and the growing bourgeois population, and had little way of participating in all the sideways trade. The wealthy needed a way to make money simply by having money. So, one by one, each of the early monarchies of Europe outlawed the kingdom’s local currencies and replaced them with a single central currency. Instead of growing their money in the fields, people would have to borrow money from the king’s treasury—at interest. If they wanted a medium through which to transact at the local marketplace, it meant becoming indebted to the aristocracy.
Douglas Rushkoff (Present Shock: When Everything Happens Now)
Professor Joseph Stiglitz, former Chief Economist of the World Bank, and former Chairman of President Clinton's Council of Economic Advisers, goes public over the World Bank’s, “Four Step Strategy,” which is designed to enslave nations to the bankers. I summarise this below, 1. Privatisation. This is actually where national leaders are offered 10% commissions to their secret Swiss bank accounts in exchange for them trimming a few billion dollars off the sale price of national assets. Bribery and corruption, pure and simple. 2. Capital Market Liberalization. This is the repealing any laws that taxes money going over its borders. Stiglitz calls this the, “hot money,” cycle. Initially cash comes in from abroad to speculate in real estate and currency, then when the economy in that country starts to look promising, this outside wealth is pulled straight out again, causing the economy to collapse. The nation then requires International Monetary Fund (IMF) help and the IMF provides it under the pretext that they raise interest rates anywhere from 30% to 80%. This happened in Indonesia and Brazil, also in other Asian and Latin American nations. These higher interest rates consequently impoverish a country, demolishing property values, savaging industrial production and draining national treasuries. 3. Market Based Pricing. This is where the prices of food, water and domestic gas are raised which predictably leads to social unrest in the respective nation, now more commonly referred to as, “IMF Riots.” These riots cause the flight of capital and government bankruptcies. This benefits the foreign corporations as the nations remaining assets can be purchased at rock bottom prices. 4. Free Trade. This is where international corporations burst into Asia, Latin America and Africa, whilst at the same time Europe and America barricade their own markets against third world agriculture. They also impose extortionate tariffs which these countries have to pay for branded pharmaceuticals, causing soaring rates in death and disease.
Anonymous
Learning to meditate helped too. When the Beatles visited India in 1968 to study Transcendental Meditation at the ashram of Maharishi Mahesh Yogi, I was curious to learn it, so I did. I loved it. Meditation has benefited me hugely throughout my life because it produces a calm open-mindedness that allows me to think more clearly and creatively. I majored in finance in college because of my love for the markets and because that major had no foreign language requirement—so it allowed me to learn what I was interested in, both inside and outside class. I learned a lot about commodity futures from a very interesting classmate, a Vietnam veteran quite a bit older than me. Commodities were attractive because they could be traded with very low margin requirements, meaning I could leverage the limited amount of money I had to invest. If I could make winning decisions, which I planned to do, I could borrow more to make more. Stock, bond, and currency futures didn’t exist back then. Commodity futures were strictly real commodities like corn, soybeans, cattle, and hogs. So those were the markets I started to trade and learn about. My college years coincided with the era of free love, mind-expanding drug experimentation, and rejection of traditional authority. Living through it had a lasting effect on me and many other members of my generation. For example, it deeply impacted Steve Jobs, whom I came to empathize with and admire. Like me, he took up meditation and wasn’t interested in being taught as much as he loved visualizing and building out amazing new things. The times we lived in taught us both to question established ways of doing things—an attitude he demonstrated superbly in Apple’s iconic “1984” and “Here’s to the Crazy Ones,” which were ad campaigns that spoke to me. For the country as a whole, those were difficult years. As the draft expanded and the numbers of young men coming home in body bags soared, the Vietnam War split the country. There was a lottery based on birthdates to determine the order of those who would be drafted. I remember listening to the lottery on the radio while playing pool with my friends. It was estimated that the first 160 or so birthdays called would be drafted, though they read off all 366 dates. My birthday was forty-eighth.
Ray Dalio (Principles: Life and Work)
When a country’s economy is in trouble—when it has a balance of trade deficit, for instance, and when its debts are mounting—and when the currency, therefore, is declining in value because everybody can see that the economy is bad, politicians, throughout history, have found a way of making things worse with the imposition of exchange controls. They run to the press and they say, “Listen, all you God-fearing Americans, Germans, Russians, whatever you are, we have a temporary problem in the financial market and it is caused by these evil speculators who are driving down the value of our currency—there is nothing wrong with our currency, we are a strong country with a sound economy, and if it were not for these speculators everything would be OK.” Diverting attention away from the real cause of the problem, which is their own mismanagement of the economy, politicians look to three crowds of people to blame for the regrettable situation. After the speculators come bankers and foreigners. Nobody likes bankers anyway, not even in good times; in bad times, everybody likes them less, because everybody sees them as rich and growing richer off the bad turn of events. Foreigners as a target are equally safe, because foreigners cannot vote. They do not have a say-so in national affairs, and remember, their food smells bad. Politicians will even blame journalists: if reporters did not write about our tanking economy, our economy would not be tanking. So we are going to enact this temporary measure, they say. To stem the scourge of a declining currency, we are going to make it impossible, or at least difficult, for people to take their money out of the country—it will not affect most of you because you do not travel or otherwise spend cash overseas. (See Chapter 9 and the Bernanke delusion.) Then they introduce serious exchange controls. They are always “temporary,” yet they always go on for years and years. Like anything else spawned by the government, once they are in place, a bureaucracy grows up around them. A constituency now arises whose sole purpose is to defend exchange controls and thereby assure their longevity. And they are always disastrous for a country. The free flow of capital stops. Money is trapped inside your country. And the country stops being as competitive as it once was.
Jim Rogers (Street Smarts: Adventures on the Road and in the Markets)
In 1931, Japan went broke—i.e., it was forced to draw down its gold reserves, abandon the gold standard, and float its currency, which depreciated it so greatly that Japan ran out of buying power. These terrible conditions and large wealth gaps led to fighting between the left and the right. By 1932, there was a massive upsurge in right-wing nationalism and militarism, in the hope that order and economic stability could be forcibly restored. Japan set out to get the natural resources (e.g., oil, iron, coal, and rubber) and human resources (i.e., slave labor) it needed by seizing them from other countries, invading Manchuria in 1931 and spreading out through China and Asia. As with Germany, it could be argued that Japan’s path of military aggression to get needed resources was more cost-effective than relying on classic trading and economic practices. In 1934, there was severe famine in parts of Japan, causing even more political turbulence and reinforcing the right-wing, militaristic, nationalistic, and expansionistic movement. In the years that followed, Japan’s top-down fascist command economy grew stronger, building a military-industrial complex to protect its existing bases in East Asia and northern China and support its excursions into other countries. As was also the case in Germany, while most Japanese companies remained privately held, their production was controlled by the government. What is fascism? Consider the following three big choices that a country has to make when selecting its approach to governance: 1) bottom-up (democratic) or top-down (autocratic) decision making, 2) capitalist or communist (with socialist in the middle) ownership of production, and 3) individualistic (which treats the well-being of the individual with paramount importance) or collectivist (which treats the well-being of the whole with paramount importance). Pick the one from each category that you believe is optimal for your nation’s values and ambitions and you have your preferred approach. Fascism is autocratic, capitalist, and collectivist. Fascists believe that top-down autocratic leadership, in which the government directs the production of privately held companies such that individual gratification is subordinated to national success, is the best way to make the country and its people wealthier and more powerful.
Ray Dalio (Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail)
No sound strategy for studying fascism can fail to examine the entire context in which it was formed and grew. Some approaches to fascism start with the crisis to which fascism was a response, at the risk of making the crisis into a cause. A crisis of capitalism, according to Marxists, gave birth to fascism. Unable to assure ever-expanding markets, ever-widening access to raw materials, and ever-willing cheap labor through the normal operation of constitutional regimes and free markets, capitalists were obliged, Marxists say, to find some new way to attain these ends by force. Others perceive the founding crisis as the inadequacy of liberal state and society (in the laissez-faire meaning of liberalism current at that time) to deal with the challenges of the post-1914 world. Wars and revolutions produced problems that parliament and the market—the main liberal solutions—appeared incapable of handling: the distortions of wartime command economies and the mass unemployment attendant upon demobilization; runaway inflation; increased social tensions and a rush toward social revolution; extension of the vote to masses of poorly educated citizens with no experience of civic responsibility; passions heightened by wartime propaganda; distortions of international trade and exchange by war debts and currency fluctuations. Fascism came forward with new solutions for these challenges. Fascists hated liberals as much as they hated socialists, but for different reasons. For fascists, the internationalist, socialist Left was the enemy and the liberals were the enemies’ accomplices. With their hands-off government, their trust in open discussion, their weak hold over mass opinion, and their reluctance to use force, liberals were, in fascist eyes, culpably incompetent guardians of the nation against the class warfare waged by the socialists. As for beleaguered middle-class liberals themselves, fearful of a rising Left, lacking the secret of mass appeal, facing the unpalatable choices offered them by the twentieth century, they have sometimes been as ready as conservatives to cooperate with fascists. Every strategy for understanding fascism must come to terms with the wide diversity of its national cases. The major question here is whether fascisms are more disparate than the other “isms.” This book takes the position that they are, because they reject any universal value other than the success of chosen peoples in a Darwinian struggle for primacy. The community comes before humankind in fascist values, and respecting individual rights or due process gave way to serving the destiny of the Volk or razza. Therefore each individual national fascist movement gives full expression to its own cultural particularism. Fascism, unlike the other “isms,” is not for export: each movement jealously guards its own recipe for national revival, and fascist leaders seem to feel little or no kinship with their foreign cousins. It has proved impossible to make any fascist “international” work.
Robert O. Paxton (The Anatomy of Fascism)
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LovesBitca8 (The Auction (Rights and Wrongs, #3))
Currency originally came about to facilitate trade, allowing society to move past barter and the double coincidence of wants. It has evolved over time to be more convenient, resulting in its present paper state. Inherently, that paper has little value other than the fact that everyone else thinks it has value and the government requires it be accepted to fulfill financial obligations. In that sense, it is a usefully shared representation of value.
Chris Burniske (Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond)
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Verified Binance Accounts for Sale: Elevate Your Trading Experience
In Figure 9.1, we see that there are five exchanges where placing a trade for 100 bitcoin (at the time, worth about $100,000) would not move the price more than 1 percent—and this was only for U.S. dollar-denominated order books. As can be seen in the upper-right tab, one can compare order books for different currency pairs, like the yuan, yen, euro, and so on.
Chris Burniske (Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond)
Balancing the diversity of exchanges and trading pairs is important for the robustness of any asset, including cryptoassets. Learning from bitcoin’s reliance on too few currencies and exchanges early in its young life, we can now follow the trading pair diversity of other cryptoassets, especially with regard to fiat currency pairs. Fiat currency pairs are particularly important for cryptoassets because they require significant integration with preexisting financial infrastructures.
Chris Burniske (Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond)
Ethereum’s ether provides a study on how exchanges adding a cryptoasset can increase the diversity of the trading pairs used to buy the asset. If our hypothesis on the importance of fiat currencies in cryptoasset trading holds, then as an asset grows in maturity and legitimacy, it should have more diversity in its trading pairs, with particularly strong growth in fiat currencies being used to buy the asset.
Chris Burniske (Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond)
And why not? If we live in an intersectional society where the most oppressed win the greatest prizes, victimhood becomes a currency to be traded and forged.[20] This cynicism makes us despise heroes and makes us susceptible to imprecations to tear down statues.
Alexander Adams (Iconoclasm, Identity Politics and the Erasure of History (Societas Book 72))
Misery is the currency trade on social media. That is why sociopath and stalkers have found a place to call home. Clout chasers are upgrading from cat fishing to sadfishing.
D.J. Kyos
One currency can be swapped for another at whatever rate two parties are willing to make a voluntary trade.
Charles Wheelan (Naked Money: A Revealing Look at Our Financial System)
As a physics major, before getting her hands dirty in New York, she had assumed that money is printed by a nation’s central bank, from where it is distributed to commercial banks. But while this is indeed how cash is created, cash accounts for only 3 per cent of all money. What of the remaining 97 per cent? Surprise and then foreboding were the reactions of every student to whom she had explained how the missing 97 per cent was created – and by whom: not by central banks but by commercial and investment bankers. At this point, her students would ask, ‘Without access to state-sanctioned printing presses, how do private bankers create money?’ ‘Simple,’ she would reply. ‘Every time a banker approves a loan of, say, one million dollars for Jack, a typical business customer, the banker just types 1,000,000 on Jack’s bank statement. However incredible it may seem, that’s all it takes. Bankers create money by granting loans by typing in some numbers!’ The crucial thing, she would explain, is that these numbers are typed into a shared database – or ledger – to which only the bankers have access. When their customers transfer this ‘money’ between them – when Jack transfers numbers from his account to the account of a supplier, say Jill, or of a builder, say Bob, or of a worker, say Kate, and when in turn, Jill, Bob and Kate transfer their numbers on, in the same way, to others to whom they owe money – these numbers simply migrate from one cell in the database to another. For this system to be sustainable, and not merely a pyramid scheme, there is a single condition: that, somewhere down the line, the one million dollars which some banker typed into existence on Jack’s behalf results in new goods and services whose total market value exceeds one million dollars. It is from this surplus that the banker takes his interest and Jack his profit. This is what Iris was referring to as a fool’s wager when she said that bankers plundered value from the future, or when Costa had once claimed that capitalism, like science fiction, trades in future assets using fictitious currency. It is in their nature that the wealthier bankers become by creating money, the more money they tend to create. The danger of such a system, of course, is that the banks end up typing into existence sums of money vastly larger than the market value of the goods and services created as a result of Jack, Jill, Bob and Kate’s endeavours. At the point when the bankers have collectively created money sums greater than the resulting values, the present can no longer repay the future for the money it borrowed from it. The moment Jack, Jill, Bob and Kate get a whiff of this, they may demand their bank balances in cash, sensing that the total value on the bankers’ database is lower than the actual value of their customers’ assets. ‘At that point, a bank run sets in,’ Eva would tell her students, ‘and that’s when the system comes crashing down.
Yanis Varoufakis (Another Now: Dispatches from an Alternative Present)
Then, after he’s finally done orbiting Pluto, all you need to say is something along the lines of ‘Wow, that’s totally cool. It sounds really interesting. I can see why you feel that way. Now as far as your goal for learning how to trade currencies goes …’ And then you lead him back to the Straight Line and pick up right where you left off by asking him the next question on your list. That’s how you maintain control of the sale and build massive rapport at the same time. Make sense, everyone? Raise you hands and say ‘yes’ if it does.
Jordan Belfort (Way of the Wolf: Straight line selling: Master the art of persuasion, influence, and success)
When a young employee gasped at his blue language, Simons flashed a grin. “I know—that is an impressive rate!” A few times a week, Marilyn came by to visit, usually with their baby, Nicholas. Other times, Barbara checked in on her ex-husband. Other employees’ spouses and children also wandered around the office. Each afternoon, the team met for tea in the library, where Simons, Baum, and others discussed the latest news and debated the direction of the economy. Simons also hosted staffers on his yacht, The Lord Jim, docked in nearby Port Jefferson. Most days, Simons sat in his office, wearing jeans and a golf shirt, staring at his computer screen, developing new trades—reading the news and predicting where markets were going, like most everyone else. When he was especially engrossed in thought, Simons would hold a cigarette in one hand and chew on his cheek. Baum, in a smaller, nearby office, trading his own account, favored raggedy sweaters, wrinkled trousers, and worn Hush Puppies shoes. To compensate for his worsening eyesight, he hunched close to his computer, trying to ignore the smoke wafting through the office from Simons’s cigarettes. Their traditional trading approach was going so well that, when the boutique next door closed, Simons rented the space and punched through the adjoining wall. The new space was filled with offices for new hires, including an economist and others who provided expert intelligence and made their own trades, helping to boost returns. At the same time, Simons was developing a new passion: backing promising technology companies, including an electronic dictionary company called Franklin Electronic Publishers, which developed the first hand-held computer. In 1982, Simons changed Monemetrics’ name to Renaissance Technologies Corporation, reflecting his developing interest in these upstart companies. Simons came to see himself as a venture capitalist as much as a trader. He spent much of the week working in an office in New York City, where he interacted with his hedge fund’s investors while also dealing with his tech companies. Simons also took time to care for his children, one of whom needed extra attention. Paul, Simons’s second child with Barbara, had been born with a rare hereditary condition called ectodermal dysplasia. Paul’s skin, hair, and sweat glands didn’t develop properly, he was short for his age, and his teeth were few and misshapen. To cope with the resulting insecurities, Paul asked his parents to buy him stylish and popular clothing in the hopes of fitting in with his grade-school peers. Paul’s challenges weighed on Simons, who sometimes drove Paul to Trenton, New Jersey, where a pediatric dentist made cosmetic improvements to Paul’s teeth. Later, a New York dentist fitted Paul with a complete set of implants, improving his self-esteem. Baum was fine with Simons working from the New York office, dealing with his outside investments, and tending to family matters. Baum didn’t need much help. He was making so much money trading various currencies using intuition and instinct that pursuing a systematic, “quantitative” style of trading seemed a waste of
Gregory Zuckerman (The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution)
It’s not so much that a strong or weak currency is inherently good or bad per se, but rather that an artificially strong or weak currency relative to a country’s trade balance is bad. If a country has a persistent trade surplus but constantly weakens its otherwise-appreciating currency by accumulating central bank reserves (mercantilism), then value is siphoned away from workers and toward the leaders. Similarly, if a country has a persistent trade deficit but has an extra monetary premium built onto its otherwise-depreciating currency due to its imperial prowess, then its workers are not very competitive in terms of global labor rates and will likely stagnate, while their political leaders, multinational corporations, and wealthy elite will thrive.
Lyn Alden (Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better)
No, women trade compliments or troubles like currency. Women smile understandingly at your confidences, then use them against you like weapons. Men she finds predictable, and Nisha likes predictability. You behave a certain way, a man responds in a way that is manageable. She understands the rules of this game.
Jojo Moyes (Someone Else's Shoes)
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Bitflyer
Unlike President Hu, Wen seemed comfortable exchanging views extemporaneously—and was straightforward in his defense of China’s trade policies. “You must understand, Mr. President, that despite what you see in Shanghai and Beijing, we’re still a developing country,” he said. “One-third of our population still lives in severe poverty…more people than in the entire United States. You can’t expect us to adopt the same policies that apply to a highly advanced economy like your own.” He had a point: For all of his country’s remarkable progress, the average Chinese family—especially outside the major cities—still had a lower income than all but the very poorest of Americans. I tried to put myself in Wen’s shoes, having to integrate an economy that straddled the information age and feudalism while generating enough jobs to meet the demands of a population the size of North and South America combined. I would have sympathized more had I not known that high-ranking Communist Party officials—including Wen—had a habit of steering state contracts and licenses to family members and siphoning billions into offshore accounts. As it was, I told Wen that given the massive trade imbalances between our two countries, the United States could no longer overlook China’s currency manipulation and other unfair practices; either China started changing course or we’d have to take retaliatory measures.
Barack Obama (A Promised Land)
But I don't want her to grow up trading on her looks, thinking she has to be pleasing to the eye to be worth anything. I don't want beauty to be a currency for her
Tracy Rees (The Little Christmas House (Hopley Village, #2))
Of the components of IQ tests, Ashkenazim do well on verbal and mathematical questions but score lower than average on visuospatial questions. In most people, these two kinds of ability are highly correlated. This suggests that some specific force has been at work in shaping the nature of Ashkenazi intelligence, as if the population were being adapted not to hunting, which requires excellent visuospatial skills, but to more urban occupations served by the ability to manipulate words and numerals. So it’s striking to find that Ashkenazim, almost from the moment their appearance in Europe was first recorded, around 900 AD, were heavily engaged in moneylending. This was the principal occupation of Jews in England, France and Germany. The trade required a variety of high level skills, including the ability to read and write contracts and to do arithmetic. Literacy was a rare ability in medieval Europe. As late as 1500, only 10% of the population of most European countries was literate, whereas almost all Jews were.7 As for arithmetic, it may be simple enough with the Arabic numerals in use today. But Arabic numerals did not become widespread in Europe until the mid-16th century. Before that, people used Roman numerals, a notation system that has no zero. Calculating interest rates and currency swaps without the use of zero is not a straightforward computation.
Nicholas Wade (A Troublesome Inheritance: Genes, Race and Human History)
That’s crazy! We can’t go the way of—” “Since when has human history been anything else?” asks the woman with the camera on her shoulder—Donna, being some sort of public archivist, is in Sirhan’s estimate likely to be of use to him. “Remember what we found in the DMZ?” “The DMZ?” Sirhan asks, momentarily confused. “After we went through the router,” Pierre says grimly. “You tell him, love.” He looks at Amber. Sirhan, watching him, feels it fall into place at that moment, a sense that he’s stepped into an alternate universe, one where the woman who might have been his mother isn’t, where black is white, his kindly grandmother is the wicked witch of the west, and his feckless grandfather is a farsighted visionary. “We uploaded via the router,” Amber says, and looks confused for a moment. “There’s a network on the other side of it. We were told it was FTL, instantaneous, but I’m not so sure now. I think it’s something more complicated, like a lightspeed network, parts of which are threaded through wormholes that make it look FTL from our perspective. Anyway, Matrioshka brains, the end product of a technological singularity—they’re bandwidth-limited. Sooner or later the posthuman descendants evolve Economics 2.0, or 3.0, or something else, and it, uh, eats the original conscious instigators. Or uses them as currency or something. The end result we found is a howling wilderness of degenerate data, fractally compressed, postconscious processes running slower and slower as they trade storage space for processing power. We were”—she licks her lips—“lucky to escape with our minds. We only did it because of a friend. It’s like the main sequence in stellar evolution; once a G-type star starts burning helium and expands into a red giant, it’s ‘game over’ for life in what used to be its liquid-water zone.
Charles Stross (Accelerando)
At the centre of the CCP’s ambitious strategy for global economic domination is the push for China’s currency, the renminbi or RMB (also known as the yuan), to become the foremost global currency, replacing the US dollar. The size of China’s economy and the fact that the RMB is the second most used currency for trade helps, but financial markets know that China’s financial system is not robust, and that the government manipulates it, which creates distrust.
Clive Hamilton (Hidden Hand: Exposing How the Chinese Communist Party is Reshaping the World)
It is clear from the preceding stories that each person has a very emotionally charged relationship with money. Yet when I asked these same people how they would explain money to a child, they immediately removed all emotion and started using phrases like, “Money is useful for meeting your needs” and “Money is a means of trade.” In reality, we experience money in complex and highly emotional ways, yet when it comes to teaching the next generation about money, suddenly we all start talking like economists! One man explained that he would not want a child to know the social implications of money, only its purpose as a unit of currency. I understand the desire to protect the innocent from unpleasant truths, but the difference between the book definition of money and its actual impact on our lives is enormous. Are we really teaching our children about money if we leave out any discussion of class?
Sarah Newcomb (Loaded: Money, Psychology, and How to Get Ahead without Leaving Your Values Behind)
Buying money with money and earning through selling money is called the right business!
P. Anshu
The mention of the silver riyāls gave me a jolt. This particular kind of riyāl, the Maria Theresa thaler, constituted, side by side with the official Arabian currencies, the chief commercial coinage of the entire Peninsula. It was minted at Trieste and sold at its silver value, plus a small minting charge to the various governments and also to a few outstanding merchants with large trade interests among the beduins; for the beduins were averse to accepting paper money and took only gold or silver - preferably Maria Theresa thalers
Muhammad Asad (The Road To Mecca)
Freedom is an illusion. Freedom is nothing more than a currency—something we spend to get something we want. We’ve always traded some amount of our freedom for the things we need for survival. We trade our freedom for financial compensation when we take jobs. We trade our freedom for safety when we allow police to search our homes and stop us when we’re walking down the street.
A.G. Riddle (The Extinction Trials)
You create your own happiness by creating your own moments and cherishing them to the core. In life, we rarely project ourselves and reflect which is where we miss ourselves. There is no other moment than now to hold tight to yourself otherwise time keeps on moving and you lose yourself to the world. Life isn’t a destination but a journey you decide for yourself through a deeper visualization and planning. Time is an ultimate currency that should be traded wisely with the deserving and no matter what and no matter how much you try to control things, meeting people’s expectations somewhere somehow you will be written wrong. Life is a precious gift from god! Celebrate yourself!
Aiyaz Uddin (Science Behind A Perfect Life)
You and I could start our own private currency system just by writing pieces of paper back and forth. We could trade with each other that way. If we kept quiet about it, the bankers wouldn’t even stop us. When gets on a larger scale, the bankers would find out about it and have it stopped. But God did not give them the magic to create money and to take that right away from everybody. Anybody can create money. It’s just a huge imposture by which the bankers have convinced the world that they are the only ones who know the magic that creates money.
Robert Anton Wilson (Coincidance: A Head Test)
A hasty retreat from globalization would entail trade and currency wars, damaging every country’s economy, provoking social havoc and triggering ethno- or clan nationalism. The establishment of a much more inclusive and equitable form of globalization that makes it sustainable, both socially and environmentally, is the only viable way to manage retreat. This requires policy solutions addressed in the concluding chapter and some form of effective global governance. Progress is indeed possible in those global areas that have traditionally benefited from international cooperation, like environmental agreements, public health and tax havens.
Klaus Schwab (COVID-19: The Great Reset)