Extended Trading Quotes

The so-called paradox of freedom is the argument that freedom in the sense of absence of any constraining control must lead to very great restraint, since it makes the bully free to enslave the meek. The idea is, in a slightly different form, and with very different tendency, clearly expressed in Plato. Less well known is the paradox of tolerance: Unlimited tolerance must lead to the disappearance of tolerance. If we extend unlimited tolerance even to those who are intolerant, if we are not prepared to defend a tolerant society against the onslaught of the intolerant, then the tolerant will be destroyed, and tolerance with them. — In this formulation, I do not imply, for instance, that we should always suppress the utterance of intolerant philosophies; as long as we can counter them by rational argument and keep them in check by public opinion, suppression would certainly be unwise. But we should claim the right to suppress them if necessary even by force; for it may easily turn out that they are not prepared to meet us on the level of rational argument, but begin by denouncing all argument; they may forbid their followers to listen to rational argument, because it is deceptive, and teach them to answer arguments by the use of their fists or pistols. We should therefore claim, in the name of tolerance, the right not to tolerate the intolerant. We should claim that any movement preaching intolerance places itself outside the law, and we should consider incitement to intolerance and persecution as criminal, in the same way as we should consider incitement to murder, or to kidnapping, or to the revival of the slave trade, as criminal.

Why books?” Her brows rose. “I beg your pardon?” “Why are they your vice?” She set her plate down and wiped her hand on her skirts before reaching for the top volume on a stack of small, leather bound books nearby and extending it to him. “Go on.” He took it. “Now what?” “Smell it.” He tilted his head. She couldn’t help but smile. “Do it.” He lifted it to his nose. Inhaled. “Not like that,” she said. “Really give it a smell.” He raised one brow but did as he was told. “What do you smell?” Sophie asked. “Leather and ink?” She shook her head. “Happiness. That’s what books smells like. Happiness. That’s why I always wanted to have a book shop. What better life than to trade in happiness?

I would not choose to live in any age but my own; advances in medicine alone, and the consequent survival of children with access to these benefits, should preclude any temptation to trade for the past. But we cannot understand history if we saddle the past with pejorative categories based on our bad habits for dividing continua into compartments of increasing worth towards the present. These errors apply to the vast paleontological history of life, as much as to the temporally trivial chronicle of human beings. I cringe every time I read that this failed business, or that defeated team, has become a dinosaur is succumbing to progress. Dinosaur should be a term of praise, not opprobrium. Dinosaurs reigned for more than 100 million years and died through no fault of their own; Homo sapiens is nowhere near a million years old, and has limited prospects, entirely self-imposed, for extended geological longevity.

On the TV screen right now, it's 1975, and Jimmy Page is playing like a man who answers to nobody. A man existing in that seductive state of extended adolescence that rock legends bask in, a man connected to something in the universe larger than even the sum total of the legendary Led Zeppelin, playing guitar because that is so clearly what he was put here to do. And it's wrong to expect that kind of divine moment to last forever, and to expect an artist to stay in 1975. Fact is, ten minutes ago I saw the guy onscreen right downstairs, coming off the trading floor of the stock exchange with a banker carrying his guitar cases for him. I sit cross-legged on the floor on a workday staring into my cereal bowl, thinking about how we all change. We all grow up. We all move on, one way or another, whether we want to or not.

Are we, intellectual sirs, not actively or passively 'producing' more and more words, more books, more articles, ceaselessly refilling the pot-boiler of speech, gorging ourselves on it rather, seizing books and 'experiences', to metamorphose them as quickly as possible into other words, plugging us in here, being plugged in there, just like Mina on her blue squared oilcloth, extending the market and the trade in words of course, but also multiplying the chances of jouissance, scraping up intensities wherever possible, and never being sufficiently dead, for we too are required to go from forty to the hundred a day, and we will never play the whore enough, we will never be dead enough

You have to be a dead-eyed dirty-souled maniac to want to spend your extended life trading punches with other maniacs. Once you've seized that power, there's no getting off the merry-go-round. You fight like hell just to hold on or you get shoved off.

Dalinar took one step forward, then drove his Blade point-first into the middle of the blackened glyph on the stone. He took a step back. “For the bridgemen,” he said. Sadeas blinked. Muttering voices fell silent, and the people on the field seemed too stunned, even, to breathe. “What?”Sadeas asked. “The Blade,”Dalinar said, firm voice carrying in the air. “In exchange for your bridgemen. All of them. Every one you have in camp. They become mine, to do with as I please, never to be touched by you again. In exchange, you get the sword.” Sadeas looked down at the Blade, incredulous. “This weapon is worth fortunes. Cities, palaces, kingdoms.” “Do we have a deal?”Dalinar asked. “Father, no!”Adolin Kholin said, his own Blade appearing in his hand. “You—” Dalinar raised a hand, silencing the younger man. He kept his eyes on Sadeas. “Do we have a deal?” he asked, each word sharp. Kaladin stared, unable to move, unable to think. Sadeas looked at the Shardblade, eyes full of lust. He glanced at Kaladin, hesitated just briefly, then reached and grabbed the Blade by the hilt. “Take the storming creatures.” Dalinar nodded curtly, turning away from Sadeas. “Let’s go,”he said to his entourage. “They’re worthless, you know,”Sadeas said. “You’re of the ten fools, Dalinar Kholin! Don’t you see how mad you are? This will be remembered as the most ridiculous decision ever made by an Alethi highprince!” Dalinar didn’t look back. He walked up to Kaladin and the other members of Bridge Four. “Go,” Dalinar said to them, voice kindly. “Gather your things and the men you left behind. I will send troops with you to act as guards. Leave the bridges and come swiftly to my camp. You will be safe there. You have my word of honor on it.” He began to walk away. Kaladin shook off his numbness. He scrambled after the highprince, grabbing his armored arm. “Wait. You—That—What just happened?” Dalinar turned to him. Then, the highprince laid a hand on Kaladin’s shoulder, the gauntlet gleaming blue, mismatched with the rest of his slate-grey armor. “I don’t know what has been done to you. I can only guess what your life has been like. But know this. You will not be bridgemen in my camp, nor will you be slaves.” “But…” “What is a man’s life worth?” Dalinar asked softly. “The slavemasters say one is worth about two emerald broams,” Kaladin said, frowning. “And what do you say?” “A life is priceless,” he said immediately, quoting his father. Dalinar smiled, wrinkle lines extending from the corners of his eyes. “Coincidentally, that is the exact value of a Shardblade. So today, you and your men sacrificed to buy me twenty-six hundred priceless lives. And all I had to repay you with was a single priceless sword. I call that a bargain.” “You really think it was a good trade, don’t you?” Kaladin said, amazed. Dalinar smiled in a way that seemed strikingly paternal.

the paradox of tolerance: unlimited tolerance must lead to the disappearance of tolerance. If we extend unlimited tolerance even to those who are intolerant, if we are not prepared to defend a tolerant society against the onslaught of the intolerant, then the tolerant will be destroyed, and tolerance with them.—In this formulation, I do not imply, for instance, that we should always suppress the utterance of intolerant philosophies; as long as we can counter them by rational argument and keep them in check by public opinion, suppression would certainly be most unwise. But we should claim the right to suppress them if necessary even by force; for it may easily turn out that they are not prepared to meet us on the level of rational argument, but begin by denouncing all argument; they may forbid their followers to listen to rational argument, because it is deceptive, and teach them to answer arguments by the use of their fists or pistols. We should therefore claim, in the name of tolerance, the right not to tolerate the intolerant. We should claim that any movement preaching intolerance places itself outside the law, and we should consider incitement to intolerance and persecution as criminal, in the same way as we should consider incitement to murder, or to kidnapping, or to the revival of the slave trade, as criminal.

certain group of people in the United States tried an experiment. They tried the experiment of making a fortune without working, of making a fortune through the stock exchange. They extended the experiment until it exploded and all went down to earth.  “Aspects of World Trade” Thomas J. Watson Sr. July 31, 1930

This, then, is our candidate replicator. But a candidate should be regarded as an actual replicator only if it possesses some minimum degree of longevity/fecundity/fidelity (there may be trade-offs among the three).

The boom brought about by the banks’ policy of extending credit must necessarily end sooner or later. Unless they are willing to let their policy completely destroy the monetary and credit system, the banks themselves must cut it short before the catastrophe occurs. The longer the period of credit expansion and the longer the banks delay in changing their policy, the worse will be the consequences of the malinvestments and of the inordinate speculation characterizing the boom; and as a result the longer will be the period of depression and the more uncertain the date of recovery and return to normal economic activity

A good deal of modern American culture is an extended experiment in the effects of depriving people of what they crave most. The consequences that flow from limbic ignorance are as grim as love’s victories are miraculous. The tragedy lies, as all tragedy does, in the knowledge that these sad outcomes once held the potential for greatness. What Charles Dickens wrote of the pair beneath the robe of Christmas Present is true of our society: “Where angels might have sat enthroned, devils lurked, and glared out menacing. No change, no degradation, no perversion of humanity, in any grade, through all the mysteries of wonderful creation, has monsters half so horrible and dread.” Our culture might trade

Southern slave owners, a tiny minority of Americans, amounting to about 1 percent of the population, deployed the rhetoric of states’ rights and free trade (by which they meant trade free from federal government regulation), but in fact they desperately needed and relied on the power of the federal government to defend and extend the institution of slavery.

There are certain modes of governing the people which will succeed. There are others which will not. The idea of consolidation is abhorrent to the people of this country. How were the sentiments of the people before the meeting of the Convention at Philadelphia? They had only one object in view. Their ideas reached no farther than to give the general government the five per centum impost, and the regulation of trade. When it was agitated in Congress, in a committee of the whole, this was all that was asked, or was deemed necessary. Since that period, their views have extended much farther. Horrors have been greatly magnified since the rising of the Convention. We are now told by the honorable gentleman (Governor Randolph) that we shall have wars and rumors of wars, that every calamity is to attend us, and that we shall be ruined and disunited forever, unless we adopt this Constitution.

THE first Greeks were all pirates. Minos, who enjoyed the empire of the sea, was only more successful, perhaps, than others in piracy; for his maritime dominion extended no farther than round his own isle. But when the Greeks became a great people, the Athenians obtained the real dominion of the sea; because this trading and victorious nation gave laws to the most potent monarch of that time; and humbled the maritime powers of Syria, of the isle of Cyprus, and Phœnicia.

As the developmental psychologist Alison Gopnik and her colleagues have observed, general intelligence, behavioral flexibility, ability to solve novel problems, and a reliance on learning from others tends to roughly correlate with an extended period of helpless immaturity.13 This relationship is found across a broad range of animals, including birds and mammals, suggesting that it tracks a fundamental evolutionary trade-off between narrow competence and creative flexibility.

One day, Carmona had an idea. Axcom had been employing various approaches to using their pricing data to trade, including relying on breakout signals. They also used simple linear regressions, a basic forecasting tool relied upon by many investors that analyzes the relationships between two sets of data or variables under the assumption those relationships will remain linear. Plot crude-oil prices on the x-axis and the price of gasoline on the y-axis, place a straight regression line through the points on the graph, extend that line, and you usually can do a pretty good job predicting prices at the pump for a given level of oil price.

The most fundamental, a major shift from the ape brand of sociality, was the human nuclear family, which gave all males a chance at procreation along with incentives to cooperate with others in foraging and defense. A second element, developed from an instinct shared with other primates, was a sense of fairness and reciprocity, extended in human societies to a propensity for exchange and trade with other groups. A third element was language. And the fourth, a defense against the snares of language, was religion. All these behaviors are built on the basic calculus of social animals, that cooperation holds more advantages than competition.

British and perniciously bred into their economic life. The First Continental Congress, however, pledged itself to oppose the slave trade generally; Rhode Island, noting that “those who are desirous of enjoying all the advantages of liberty themselves should be willing to extend personal liberty to others,” ruled that slaves imported into the colony would thereafter be freed. Connecticut followed suit; Delaware prohibited the importation of slaves; and Pennsylvania taxed the trade so heavily as almost to extinguish it there. Abigail Adams spoke for many when she wrote on September 24, 1774, “I wish most sincerely there was not a slave in the province. It always appeared a most iniquitous scheme to me—to fight ourselves for what we are daily robbing and plundering from those who have as good a right to freedom as we have.

History can familiarize, and it can warn. In the late nineteenth century, just as in the late twentieth century, the expansion of global trade generated expectations of progress. In the early twentieth century, as in the early twenty-first, these hopes were challenged by new visions of mass politics in which a leader or a party claimed to directly represent the will of the people. European democracies collapsed into right-wing authoritarianism and fascism in the 1920s and '30s. The communist Soviet Union, established in 1922, extended its model into Europe in the 1940s. The European history of the twentieth century shows us that societies can break, democracies can fall, ethics can collapse, and ordinary men can find themselves standing over death pits with guns in their hands. It would serve us well today to understand why.

In the time of trading I had an opportunity of seeing that the too liberal use of spirituous liquors and the custom of wearing too costly apparel led some people into great inconveniences; and that these two things appear to be often connected with each other. By not attending to that use of things which is consistent with universal righteousness, there is an increase of labor which extends beyond what our Heavenly Father intends for us. And by great labor, and often of much sweating, there is even among such as are not drunkards a craving of liquors to revive the spirits; that partly by the luxurious drinking of some, and partly by the drinking of others (led to it through immoderate labor), very great quantities of rum are every year expended in our colonies; the greater part of which we should have no need of, did we steadily attend to pure wisdom.

Unlimited tolerance must lead to the disappearance of tolerance. If we extend unlimited tolerance even to those who are intolerant, if we are not prepared to defend a tolerant society against the onslaught of the intolerant, then the tolerant will be destroyed, and tolerance with them. ... We should claim the right to suppress them if necessary even by force; for it may easily turn out that they are not prepared to meet us on the level of rational argument, but begin by denouncing all argument; they may forbid their followers to listen to rational argument, because it is deceptive, and teach them to answer arguments by the use of their fists or pistols. We should therefore claim, in the name of tolerance, the right not to tolerate the intolerant. We should claim that any movement preaching intolerance places itself outside the law, and we should consider incitement to intolerance and persecution as criminal, in the same way as we should consider incitement to murder, or to kidnapping, or to the revival of the slave trade, as criminal.

When did you decide to become an architect?” “When I was ten years old.” “Men don’t know what they want so early in life, if ever. You’re lying.” “Am I?” “Don’t stare at me like that! Can’t you look at something else? Why did you decide to be an architect?” “I didn’t know it then. But it’s because I’ve never believed in God.” “Come on, talk sense.” “Because I love this earth. That’s all I love. I don’t like the shape of things on this earth. I want to change them.” “For whom?” “For myself.” “How old are you?” “Twenty-two.” “Where did you hear all that?” “I didn’t.” “Men don’t talk like that at twenty-two. You’re abnormal.” “Probably.” “I didn’t mean it as a compliment.” “I didn’t either.” “Got any family?” “ No.” “Worked through school?” “Yes.” “At what?” “In the building trades.” “How much money have you got left?” “Seventeen dollars and thirty cents.” “When did you come to New York?” “Yesterday.” Cameron looked at the white pile under his fist. “God damn you,” said Cameron softly. “God damn you!” roared Cameron suddenly, leaning forward. “I didn’t ask you to come here! I don’t need any draftsmen! There’s nothing here to draft! I don’t have enough work to keep myself and my men out of the Bowery Mission! I don’t want any fool visionaries starving around here! I don’t want the responsibility. I didn’t ask for it. I never thought I’d see it again. I’m through with it. I was through with that many years ago. I’m perfectly happy with the drooling dolts I’ve got here, who never had anything and never will have and it makes no difference what becomes of them. That’s all I want. Why did you have to come here? You’re setting out to ruin yourself, you know that, don’t you? And I’ll help you to do it. I don’t want to see you. I don’t like you. I don’t like your face. You look like an insufferable egotist. You’re impertinent. You’re too sure of yourself. Twenty years ago I’d have punched your face with the greatest of pleasure. You’re coming to work here tomorrow at nine o’clock sharp.” “Yes,” said Roark, rising. “Fifteen dollars a week. That’s all I can pay you.” “Yes.” “You’re a damn fool. You should have gone to someone else. I’ll kill you if you go to anyone else. What’s your name?” “Howard Roark.” “If you’re late, I’ll fire you.” “Yes.” Roark extended his nand for the drawings. “Leave these here!” bellowed Cameron. “Now get out!

Within the huge trade unions, a similar managerial officialdom, the “labor bureaucracy” consolidates its position as an elite. This elite is sharply distinguished in training, income, habits and outlook from the ordinary union member. The trend extends to the military world, the academic world, the non-profit foundations and even auxilliary organizations of the U.N. Armies are no longer run by “fighting captains” but by a Pentagon-style managerial bureaucracy. Within the universities, proliferating administrators have risen above students, teaching faculty, alumni and parents, their power position expressed in the symbols of higher salaries and special privileges. The great “non-profit foundations” have been transformed from expressions of individual benevolence into strategic bases of managerial-administrative power. The United Nations has an international echelon of manager entrenched in the Secretariat. There are fairly obvious parallels in the managerial structures of the diverse institutional fields. For example, managers in business are stockholders as labor managers are to union members; as government managers are to voters; as public school administrators are to tax-payers; as university and private school administrators are to tuition payers and fund contributors.

Article IV The better to secure and perpetuate mutual friendship and intercourse among the people of the different States in this Union, the free inhabitants of each of these States, paupers, vagabonds, and fugitives from justice excepted, shall be entitled to all privileges and immunities of free citizens in the several States; and the people of each State shall free ingress and regress to and from any other State, and shall enjoy therein all the privileges of trade and commerce, subject to the same duties, impositions, and restrictions as the inhabitants thereof respectively, provided that such restrictions shall not extend so far as to prevent the removal of property imported into any State, to any other State, of which the owner is an inhabitant; provided also that no imposition, duties or restriction shall be laid by any State, on the property of the United States, or either of them. If any person guilty of, or charged with, treason, felony, or other high misdemeanor in any State, shall flee from justice, and be found in any of the United States, he shall, upon demand of the Governor or executive power of the State from which he fled, be delivered up and removed to the State having jurisdiction of his offense. Full faith and credit shall be given in each of these States to the records, acts, and judicial proceedings of the courts and magistrates of every other State.

We had little money but didn’t think of ourselves as poor. Our vision, if I can call it that, was not materialistic. If we had a concept about ourselves, it was egalitarian, although we would not have known what that word meant. We spoke French entirely. There was a bond between Cajuns and people of color. Cajuns didn’t travel, because they believed they lived in the best place on earth. But somehow the worst in us, or outside of us, asserted itself and prevailed and replaced everything that was good in our lives. We traded away our language, our customs, our stands of cypress, our sugarcane acreage, our identity, and our pride. Outsiders ridiculed us and thought us stupid; teachers forbade our children to speak French on the school grounds. Our barrier islands were dredged to extinction. Our coastline was cut with eight thousand miles of industrial channels, destroying the root systems of the sawgrass and the swamps. The bottom of the state continues to wash away in the flume of the Mississippi at a rate of sixteen square miles a year. Much of this we did to ourselves in the same way that a drunk like me will destroy a gift, one that is irreplaceable and extended by a divine hand. Our roadsides are littered with trash, our rain ditches layered with it, our waterways dumping grounds for automobile tires and couches and building material. While we trivialize the implications of our drive-through daiquiri windows and the seediness of our politicians and recite our self-congratulatory mantra, laissez les bons temps rouler, the southern rim of the state hovers on the edge of oblivion, a diminishing, heartbreaking strip of green lace that eventually will be available only in photographs.

GCHQ has traveled a long and winding road. That road stretches from the wooden huts of Bletchley Park, past the domes and dishes of the Cold War, and on towards what some suggest will be the omniscient state of the Brave New World. As we look to the future, the docile and passive state described by Aldous Huxley in his Brave New World is perhaps more appropriate analogy than the strictly totalitarian predictions offered by George Orwell's Nineteen Eighty-Four. Bizarrely, many British citizens are quite content in this new climate of hyper-surveillance, since its their own lifestyle choices that helped to create 'wired world' - or even wish for it, for as we have seen, the new torrents of data have been been a source of endless trouble for the overstretched secret agencies. As Ken Macdonald rightly points out, the real drives of our wired world have been private companies looking for growth, and private individuals in search of luxury and convenience at the click of a mouse. The sigint agencies have merely been handed the impossible task of making an interconnected society perfectly secure and risk-free, against the background of a globalized world that presents many unprecedented threats, and now has a few boundaries or borders to protect us. Who, then, is to blame for the rapid intensification of electronic surveillance? Instinctively, many might reply Osama bin Laden, or perhaps Pablo Escobar. Others might respond that governments have used these villains as a convenient excuse to extend state control. At first glance, the massive growth of security, which includes includes not only eavesdropping but also biometric monitoring, face recognition, universal fingerprinting and the gathering of DNA, looks like a sad response to new kinds of miscreants. However, the sad reality is that the Brave New World that looms ahead of us is ultimately a reflection of ourselves. It is driven by technologies such as text messaging and customer loyalty cards that are free to accept or reject as we choose. The public debate on surveillance is often cast in terms of a trade-off between security and privacy. The truth is that luxury and convenience have been pre-eminent themes in the last decade, and we have given them a much higher priority than either security or privacy. We have all been embraced the world of surveillance with remarkable eagerness, surfing the Internet in a global search for a better bargain, better friends, even a better partner. GCHQ vast new circular headquarters is sometimes represented as a 'ring of power', exercising unparalleled levels of surveillance over citizens at home and abroad, collecting every email, every telephone and every instance of internet acces. It has even been asserted that GCHQ is engaged in nothing short of 'algorithmic warfare' as part of a battle for control of global communications. By contrast, the occupants of 'Celtenham's Doughnut' claim that in reality they are increasingly weak, having been left behind by the unstoppable electronic communications that they cannot hope to listen to, still less analyse or make sense of. In fact, the frightening truth is that no one is in control. No person, no intelligence agency and no government is steering the accelerating electronic processes that may eventually enslave us. Most of the devices that cause us to leave a continual digital trail of everything we think or do were not devised by the state, but are merely symptoms of modernity. GCHQ is simply a vast mirror, and it reflects the spirit of the age.

The ownership of land is not natural. The American savage, ranging through forests who game and timber are the common benefits of all his kind, fails to comprehend it. The nomad traversing the desert does not ask to whom belong the shifting sands that extend around him as far as the horizon. The Caledonian shepherd leads his flock to graze wherever a patch of nutritious greenness shows amidst the heather. All of these recognise authority. They are not anarchists. They have chieftains and overlords to whom they are as romantically devoted as any European subject might be to a monarch. Nor do they hold as the first Christians did, that all land should be held in common. Rather, they do not consider it as a thing that can be parceled out. “We are not so innocent. When humanity first understood that a man’s strength could create good to be marketed, that a woman’s beauty was itself a commodity for trade, then slavery was born. So since Adam learnt to force the earth to feed him, fertile ground has become too profitable to be left in peace. “This vital stuff that lives beneath our feet is a treasury of all times. The past: it is packed with metals and sparkling stones, riches made by the work of aeons. The future: it contains seeds and eggs: tight-packed promises which will unfurl into wonders more fantastical than ever jeweller dreamed of -- the scuttling centipede, the many-branched tree whose roots, fumbling down into darkness, are as large and cunningly shaped as the boughs that toss in light. The present: it teems. At barely a spade’s depth the mouldy-warp travels beneath my feet: who can imagine what may live a fathom down? We cannot know for certain that the fables of serpents curving around roots of mighty trees, or of dragons guarding treasure in perpetual darkness, are without factual reality. “How can any man own a thing so volatile and so rich? Yet we followers of Cain have made of our world a great carpet, whose pieces can be lopped off and traded as though it were inert as tufted wool.

In the U.S. Articles of Confederation, the federal government gave itself the exclusive right to regulate “the trade and managing all affairs with the Indians.” This power was repeated in the 1790 Trade and Intercourse Act, which further refined “trade” and “affairs” to include the purchase and sale of Indian land. The intent of these two pieces of legislation was clear. Whatever powers states were to have, those powers did not extend to Native peoples. Beginning in 1823, there would be three U.S. Supreme Court decisions—Johnson v. McIntosh, Cherokee v. Georgia, Worcester v. Georgia—that would confirm the powers that the U.S. government had unilaterally taken upon itself and spell out the legal arrangement that tribes were to be allowed. 1823. Johnson v. McIntosh. The court decided that private citizens could not purchase land directly from Indians. Since all land in the boundaries of America belonged to the federal government by right of discovery, Native people could sell their land only to the U.S. government. Indians had the right of occupancy, but they did not hold legal title to their lands. 1831. Cherokee v. Georgia. The State of Georgia attempted to extend state laws to the Cherokee nation. The Cherokee argued that they were a foreign nation and therefore not subject to the laws of Georgia. The court held that Indian tribes were not sovereign, independent nations but domestic, dependent nations. 1832. Worcester v. Georgia. This case was a follow-up to Cherokee v. Georgia. Having determined that the Cherokee were a domestic, dependent nation, the court settled the matter of jurisdiction, ruling that the responsibility to regulate relations with Native nations was the exclusive prerogative of Congress and the federal government. These three cases unilaterally redefined relationships between Whites and Indians in America. Native nations were no longer sovereign nations. Indians were reduced to the status of children and declared wards of the state. And with these decisions, all Indian land within America now belonged to the federal government. While these rulings had legal standing only in the United States, Canada would formalize an identical relationship with Native people a little later in 1876 with the passage of the Indian Act. Now it was official. Indians in all of North America were property.

[T]he great decided effective Majority is now for the Republic," he told Jefferson in late October 1792, but whether it would endure for even six months "must depend on the Form of Government which shall be presented by the Convention" and whether it could "strike out that happy Mean which secures all the Liberty which Circumstances will admit of combin'd with all the Energy which the same Circumstances require; Whether they can establish an Authority which does not exist, as a Substitute (and always a dangerous Substitute) for that Respect which cannot be restor'd after so much has been to destroy it; Whether in crying down and even ridiculing Religion they will be able on the tottering and uncertain Base of metaphisic Philosophy to establish a solid Edifice of morals, these are Questions which Time must solve." At the same time he predicted to Rufus King that "we shall have I think some sharp struggles which will make many men repent of what they have done when they find with Macbeth that they have but taught bloody Instructions which return to plague the Inventor." . . . In early December, he wrote perhaps his most eloquent appraisal of the tragic turn of the [French] Revolution, to Thomas Pinckney. "Success as you will see, continues to crown the French Arms, but it is not our Trade to judge from Success," he began. "You will soon learn that the Patriots hitherto adored were but little worthy of the Incense they received. The Enemies of those who now reign treat them as they did their Predecessors and as their Successors will be treated. Since I have been in this Country, I have seen the Worship of many Idols and but little [illegible] of the true God. I have seen many of those Idols broken, and some of them beaten to Dust. I have seen the late Constitution in one short Year admired as a stupendous Monument of human Wisdom and ridiculed as an egregious Production of Folly and Vice. I wish much, very much, the Happiness of this inconstant People. I love them. I feel grateful for their Efforts in our Cause and I consider the Establishment of a good Constitution here as the principal Means, under divine Providence, of extending the blessings of Freedom to the many millions of my fellow Men who groan in Bondage on the Continent of Europe. But I do not greatly indulge the flattering Illusions of Hope, because I do not yet perceive that Reformation of Morals without which Liberty is but an empty Sound." . . . [H]e believed religion was "the only solid Base of Morals and that Morals are the only possible Support of free governments." He described the movement as a "new Religion" whose Votaries have the Superstition of not being superstitious. They have with this as much Zeal as any other Sect and are as ready to lay Waste the World in order to make Proselytes.

As a highly successful slave trader, James DeWolf owned all of his vessels outright. DeWolf also held 75 percent interest in many other vessels, primarily those owned by his brothers and extended relatives.135 Levi, John and William, in addition to James, also owned shares in numerous local American slavers.136

Trend markets with large movements in an upward or downward direction over an extended period of time. The trend markets see major reversals several

The deal, together with other initiatives to extend its military influence in the region, would culminate in the US using the kingdom as a launching pad for the First Gulf War.

The adjective “efficient” in “efficient markets” refers to how investors use information. In an efficient market, every titbit of new information is processed correctly and immediately by investors. As a result, market prices react instantly and appropriately to any relevant news about the asset in question, whether it is a share of stock, a corporate bond, a derivative, or some other vehicle. As the saying goes, there are no $100 bills left on the proverbial sidewalk for latecomers to pick up, because asset prices move up or down immediately. To profit from news, you must be jackrabbit fast; otherwise, you’ll be too late. This is one rationale for the oft-cited aphorism “You can’t beat the market.” An even stronger form of efficiency holds that market prices do not react to irrelevant news. If this were so, prices would ignore will-o’-the-wisps, unfounded rumors, the madness of crowds, and other extraneous factors—focusing at every moment on the fundamentals. In that case, prices would never deviate from fundamental values; that is, market prices would always be “right.” Under that exaggerated form of market efficiency, which critics sometimes deride as “free-market fundamentalism,” there would never be asset-price bubbles. Almost no one takes the strong form of the efficient markets hypothesis (EMH) as the literal truth, just as no physicist accepts Newtonian mechanics as 100 percent accurate. But, to extend the analogy, Newtonian physics often provides excellent approximations of reality. Similarly, economists argue over how good an approximation the EMH is in particular applications. For example, the EMH fits data on widely traded stocks rather well. But thinly traded or poorly understood securities are another matter entirely. Case in point: Theoretical valuation models based on EMH-type reasoning were used by Wall Street financial engineers to devise and price all sorts of exotic derivatives. History records that some of these calculations proved wide of the mark.

As the Cold War extended and British influence diminished, so the Americans moved into traditional British areas in response to Soviet threats and the Soviet Union’s growing arms industry. By the early sixties, the United States was by far the biggest exporter of arms, forcing Britain to compete more desperately for her markets abroad.

Much of the wealth Solomon derived from trade and taxes he poured into the royal capital. He built a sumptuous royal palace, with a great hypostyle hall on the lines of pharaoh’s palaces at Memphis, Luxor and elsewhere, its cedarwood roof supported by forty-five enormous wooden pillars, what the Bible calls ‘the house of the forest of Lebanon’. A separate palace was built for his chief wife, the Egyptian, since she kept her own pagan faith: ‘My wife shall not dwell in the house of David King of Israel, because the places are holy, whereunto the Ark of the Lord hath come.’184 Palace and royal quarter, barracks and inner fortifications were close to a new sacred quarter, or Temple, the whole being accommodated by extending the city of David 250 yards to the east.

Unhorsing capitalism was never the New Deal’s intent anyway. Especially since the outset of the war, the regime had largely come to agreeable terms with big business interests. It shed most programmatic overtures to universalize the welfare state and extend it into areas like health and housing. Structural reconfigurations of power relations in the economy, long-term economic planning, and state ownership or management of capital investments (commonplace during the war) were all offensive to the new centers of the postwar policy making, what soon enough would be widely referred to as the Establishment. Moreover, the “welfare state,” for all the tears now shed over its near death, was in its origins in late-nineteenth-century Europe a creature of conservative elitists like Bismarck or David Lloyd George, and had been opposed by the left as a means of defusing working-class power and independence, a program installed without altering the basic configurations of wealth and political control. As the center of gravity shifted away from the Keynesian commonwealth toward what one historian has called “commercial Keynesianism” and another “the corporate commonwealth,” labor and its many allies among middle-class progressives and minorities found themselves fighting on less friendly terrain. If they could no longer hope to win in the political arena measures that would benefit all working people—like universal health insurance, for example—trade unions could pursue those objectives for their own members where they were most muscular, especially in core American industries like auto and steel. So the labor movement increasingly chose to create mini private welfare states.

Having completed its conquest of California in 1844, the United States looked across the Pacific for new business opportunities. In 1853, Commodore Matthew Perry sailed into Tokyo (then called Edo) Bay with four men-of-war, and handed over a letter for the Japanese emperor from the American president which began with the ominous words, ‘You know that the United States of America now extend from sea to sea.’ Denied an audience with the emperor, Perry retreated with subtle threats to return with more firepower if the Japanese did not agree to open their ports to American trade. They refused. He did as he said; and the Japanese succumbed.

Stephen!” Meridith hobbled forward and embraced her fiancé. “What are you doing here?” “I missed you.” He pecked her on the lips, but his embrace felt stilted. Then she remembered Jake. She pulled away and cleared her throat. “Stephen, this is Jake, the contractor I hired. Jake, this is my fiancé, Stephen.” Jake extended his hand. The grasp seemed more like a challenge than a handshake. Or maybe it was her imagination. “Nice to meet you,” Stephen said. “Same.” Jake’s voice seemed deep after Stephen’s. “I’ll turn in now,” he said to Meridith. “You’ll be all right with your ankle?” “Yeah, thanks.” Her laugh wobbled. “Good night.” She’d never gotten around to telling Stephen that Jake was staying there, and now she wished she had. Boy, did she ever. Stephen would have questions. She wasn’t blind to the way it must look, a cozy family returning from a day at the festival. Not to mention the way she’d been curled into Jake’s arms as he’d helped her up the walk. The screen door slapped into place, leaving them alone. Meridith huddled into her thin sweater. “I can’t believe you’re here.” “He’s staying here?” Stephen’s voice had an edge she hadn’t heard before. “It was a trade. I couldn’t afford the repairs, remember? Jake offered to trade for room and board.” “I’ll bet he did.” “Stephen.

She eased the ring from her finger and extended it to him. The frown returned, settling between his brows like claw marks in the sand. “Meridith. Put it back.” She opened his hand and placed the ring on his palm, the certainty growing roots. She looked at his clean-shaven jaw, the short-clipped hair that wasn’t long enough for the wind to disturb, his high forehead and straight nose. She was trading stability for chaos. Security for ambiguity. Predictability for uncertainty. In some ways, it would be her childhood all over again. But this time she was in charge. She was the one calling the shots. She was no helpless little girl swinging by the tail end of her mother’s illness. Even if he agreed in the end, what kind of father would he be if he didn’t want the children? She wouldn’t do that to her siblings. They deserved far more. “It’s over, Stephen.” “You don’t mean that.” He took her hand. “We’re perfect for each other, you’ve said it yourself a hundred times.” She had said it, believed it. She wondered now if it was true. She couldn’t deny the feelings that had sprung up for Jake, who was not at all what she needed, not at all the man for her. Still, if she truly loved Stephen, those feelings wouldn’t be there. “My future includes Noelle and Max and Ben. Things have changed since I agreed to marry you, and I’m doing what’s right for these kids. I have to do what’s best for them. That’s my reality, but it doesn’t have to be yours. I understand it’s not what you want.” His jaw twitched. “It’s that contractor, isn’t it?” “No.” “I saw the way he looked at you.” The comment sent a pleasant warmth flooding through her. “This is between us, Stephen. My future’s taken an unexpected turn. I can’t leave the kids, and you can’t accept them. There’s nothing to do now but say it’s over.” “Meridith . . .” His eyes pled, turned glossy. She’d never seen him get emotional, not even when his grandfather passed away last November. She

Are we, intellectual sirs, not actively or passively 'producing' more and more words, more books, more articles, ceaselessly refilling the pot-boiler of speech, gorging ourselves on it rather, seizing books and 'experiences', to metamorphose them as quickly as possible into other words, plugging us in here, being plugged in there, just like Mina on her blue squared oilcloth, extending the market and the trade in words of course, but also multiplying the chances of jouissance, scraping up intensities wherever possible, and never being sufficiently dead, for we too are required to go from forty to the hundred a day, and we will never play the whore enough, we will never be dead enough

Traders and quants are genuinely different species. Traders pride themselves on being tough and forthright while quants are more circumspect and reticent. These differences in personality are reflections of deeper cultural preferences. Traders are paid to act. All day long they watch screens, assimilate economic information, page frantically through spreadsheets, run programs written by quants, enter trades, talk to salespeople and brokers, and punch keys. It’s hard to have an extended conversation with a trader during the business day; it takes an hour of standing around to have five minutes of punctuated repartee. Part of what traders do has a video game quality. In consequence, they learn to be opinionated, visceral, fast-thinking, and decisive, though not always right. They thrive on interruption. Quants

So grave were the interstate tensions over trade that Nathaniel Gorham, named president of Congress in 1786, feared that clashes between New York and its neighbors might degenerate into civil war. Similarly acrimonious trade disputes erupted between other states with major seaports and neighbors who imported goods through them. The states were arrogating a right that properly belonged to a central government: the right to formulate trade policy. This persuaded Hamilton that unless a new federal government with a monopoly on customs revenues was established, disunion would surely ensue. As individual states developed interests in their own taxes, they would be less and less likely to sacrifice for the common good. In April 1786, amid a worsening economic crisis, Hamilton agreed that the time had come to act and was elected to a one-year term in the New York Assembly. Later on, he told a Scottish relative that he had been involved in a lucrative legal practice “when the derangement of our public affairs by the feebleness of the general confederation drew me again reluctantly into public life.” His zeal for reform signaled anything but reluctance. He was seized with a crusading sense of purpose and had a momentous, long-term plan to enact. Hamilton told Troup he had stood for election because he planned to “render the next session” of the Assembly “subservient to the change he meditated” in the structure of the national government. Indeed, his election to the Assembly was a preliminary step in an extended sequence of events that led straight to the Constitutional Convention.

However, he was also aware of the poor being exploited by others. This awareness can even be extended to the way in which he tackled the issue of commerce. One important move was to standardize the weights that were being used. This was enforced by local officers. The idea was that people had to be absolutely certain they were getting what they were paying for and not being undersold due to issues with inconsistent weights and measurements.   He also realized that being a merchant and a trader came with a number of worries, especially the fear of being robbed. That was why Charlemagne took steps to make sure those found guilty of robbing merchants faced severe penalties.   There is no doubt that changes in trade and commerce had a profound effect on his kingdom. They are also acclaimed as having pulled Europe as a whole out of a depression that had swept across the continent after the collapse of the Roman Empire. By providing his subjects with a greater sense of being able to shape their own future he provided them with more hope for the future.

African coastal entrepôts such as Ouidah played a critical role in the operation of the Atlantic slave trade, by helping to coordinate exchanges between hinterland suppliers and European ships, thereby accelerating their turn-round, and also by supplying them with provisions to feed the slaves on their voyage.14 In addition to extending and deepening understanding of the working of the slave trade, a study of Ouidah also represents a contribution to a second area of growing interest recently within African historical studies, urban history. Studies of urban history in Africa have tended to concentrate on the growth of towns during the colonial and post-colonial periods;15 but in West Africa especially, substantial towns existed already in the pre-colonial period, and Ouidah offers an exceptionally well-documented case-study of this earlier tradition of urbanism.16 Within southern Bénin, Ouidah provides the premier example of the ‘second generation’ of precolonial towns, which served as centres for European maritime trade: what have been termed, although somewhat infelicitously, ‘fort towns [villes-forts]’, in distinction from the ‘first generation’ of ‘palace-cities [cités-palais]’, which served as capitals of indigenous African states, such as Abomey.

Spheres that glowed again, and several highstorms as proof that that would persist, had encouraged everyone. Excitement was high, trading brisk. Drink flowed freely from casks emblazoned with the royal seal of Jah Keved. Lurking within it all, somewhere, was a predator that only Veil could hear. She heard the thing in the silence between laughter. It was the sound of a tunnel extending into the darkness. The feel of breath on the back of your neck in a dark room. How could they laugh while that void watched?

The Chinese government’s distinct attitude to worker protections also extends to its treatment of hundreds of millions of migrants moving from the countryside to the cities. Thanks to China’s hukou system, these workers are effectively illegal immigrants in their own country. Originally meant to keep workers on farms in the Maoist era, the hukou system limits the rights of Chinese to move and settle anywhere in China outside of where they were born.

Yyrkoon, I must admit, would also rule as an emperor should. He, too, has the opportunity to make Melniboné great again. If he were emperor, he would embark on a campaign of conquest to restore our trade to its former volume, to extend our power across the earth. And that is what the majority of our folk would wish. Is it my right to deny that wish?’ ‘It

Because we were back in LA for the celebrity episode, we were able to attend a dinner party thrown by threes trading spaces on waters Jay and Rick from the Van Nuys shoot. It was wonderful to see them and Lisa and Teddy, who were on the other team. Jay and Rick at the room basically the same they rearrange the furniture to accommodate their TV, but that's about it. Lisa and Tony kept the room EXACTLY the same. Like, for real, exactly the same thing - the artwork, the flowers, everything. They even carried the design into the rest of their house. They took the street from the living room and extended all the way to the front door, then add molding on the hallway cabinets to match the detail work on the wall unit we built for them. And get this: Teddy added indirect lighting to the open shelves above the wall unit. The room looks fabulous. I can't wait to tell Laurie how inspired they were by her work.

we left Earth to its own devices for long enough, it would eventually enter another ice age. This would be much more extreme than the kinds of climate changes we are potentially facing now. During the last ice age, up until about thirteen thousand years ago, an unbroken sheet of ice two or three miles thick extended from the poles down to the latitude of Minneapolis. Sea level dropped by around three hundred feet, completely redrawing coastlines and the paths of rivers around the world. There is no way that a civilization of many billion humans, tied to cities and dependent upon a global system of agriculture and trade, could survive such a transition intact.

After a time I saw what I believed, at the time, to be a radio relay station located out on a desolate sand spit near Villa Bens. It was only later that I found out that it was Castelo de Tarfaya, a small fortification on the North African coast. Tarfaya was occupied by the British in 1882, when they established a trading post, called Casa del Mar. It is now considered the Southern part of Morocco. In the early ‘20s, the French pioneering aviation company, Aéropostale, built a landing strip in this desert, for its mail delivery service. By 1925 their route was extended to Dakar, where the mail was transferred onto steam ships bound for Brazil. A monument now stands in Tarfaya, to honor the air carrier and its pilots as well as the French aviator and author Antoine Marie Jean-Baptiste Roger, comte de Saint-Exupéry better known as Antoine de Saint-Exupéry. As a newly acclaimed author in the literary world. “Night Flight,” or “Vol de nuit,” was the first of Saint-Exupéry’s literary works and won him the prix Femina, a French literary prize created in 1904. The novel was based on his experiences as an early mail pilot and the director of the “Aeroposta Argentina airline,” in South America. Antoine is also known for his narrative “The Little Prince” and his aviation writings, including the lyrical 1939 “Wind, Sand and Stars” which is Saint-Exupéry’s 1939, memoir of his experiences as a postal pilot. It tells how on the week following Christmas in 1935, he and his mechanic amazingly survived a crash in the Sahara desert. The two men suffered dehydration in the extreme desert heat before a local Bedouin, riding his camel, discovered them “just in the nick of time,” to save their lives. His biographies divulge numerous affairs, most notably with the Frenchwoman Hélène de Vogüé, known as “Nelly” and referred to as “Madame de B.

Look what I have here. A gift, yes? For your woman. A gift like no other.” He pulled something sparkly from a parfleche and palmed it, extending his arm toward Hunter. “Moonlight on water, cousin. A comb for your tosi wife.” Drawn by the glisten of bright stones, Hunter lifted the comb and turned it to catch the firelight. For an instant he imagined the look on Loretta’s face if he were to give her something so fine. Then he discarded the thought. “You took it off a woman you killed. She would spit upon it.” “No! I traded with the Comancheros for it.” Excitement coursed up Hunter’s spine. He wanted so badly to give Loretta pretty things, things a white woman would treasure. He knew his world was vastly different from hers. A comb like this might console her. “How much?” “It’s a gift!” “Ah, no. Only a woman’s husband should give her something so beautiful.” “It will cost you a blanket,” Red Buffalo said with a shrug. Hunter snorted. “Two horses, no less.” “One. I will accept no more.” Red Buffalo laughed. “We do this backward, eh, cousin? Some fine traders we are.

Underhill had an idea for much safer, faster transport than autos or even aircraft. “Ten minutes from Princeton to Lands Command, twenty minutes across the continent. See, you dig these tunnels along minimum-time arcs, evacuate the air from them, and just let gravity do the work.” By Unnerby’s watch, there was a five-second pause. Then: “Oops, little problem there. The minimum-time solution for Princeton to Lands Command would go down kinda deep…like six hundred miles. I probably couldn’t convince even the General to finance it.” “You are right about that!” And the two were off in an extended argument about less-than-optimal tunnel arcs and trade-offs against air travel. The deep tunnel idea was really dumb, it turned out.

This northerly route of east–west transit and trade, extending from the Panjab and the upper Indus to Bihar and the lower Ganga, now became as much the main axis of Aryanisation as it would subsequently of Buddhist proselytisation and even Magadhan imperialism. It was known as the Uttarapatha, the Northern Route, as distinct from the Daksinapatha (whence the term ‘Deccan’) or Southern Route.

Growing hops is one of the most labour-intensive parts of the brewing process, and all the workers, at every step of the way, are grossly underpaid. It’s good that we have the chance these days to buy Fair Trade bananas and coffee. Why not extend the scheme to British produce, too? Why not pay more for beer, and pay the highly skilled men and women who work in the gardens the minimum wage?

We have no reason to believe that an animal can grasp the notion of extended life, let alone choose to trade current suffering for it.

Promotion stocks came to the retailer ahead of the rest of the market. Also, they usually got an extra lot even after the end of the promotion Newly launched products came to the retailer first. The customers got more choice, faster, leading to favourable word-of-mouth publicity Local display and consumer sampling budgets were always directed liberally at the retailer Vendors ensured that no slow moving inventory was stuck in the retailer’s stores; they wanted nothing to choke the pipeline The retailer also received the best in-class margin from the distributor If some items were in short supply, the vendor would ensure the retailer was the last one to go out of stock In effect, the consumers found more products, fresher stocks and more promotions in the retailer’s stores compared to the general market. This wasn’t something actively created by either the vendors or the retailer, but was a byproduct of good trading practices. Just one move based on a trading community insight— everyone has less money in the bank than needed — hurled the retailer into a virtuous growth cycle, with all the vendors pushing in one direction, with them. Most people in the business would not give a second look at changing these trading practices. If the payment norm is eight days why modify it? Surely the wholesalers, too, know what they’re letting themselves in for? And the vast volumes offered by organised retail should offset the stress of extending credit. Isn’t that how it works? One retailer managed to peep behind the curtain of wholesaler business practices and understood what a boon more money in the bank was to the trade. And look at the gains they reaped for this seemingly insignificant insight!

Don’t chase the trade if it is too extended.

Every one of these ideas though must be considered in the cultural context and time in which it was authored. All are by European men being exposed to the peoples of the world as a result of expanded trade routes, colonialization, and empire building, and in many cases the conquering and enslavement of the people they encountered. The invention of race occurs in an era of exploration, exploitation, and plunder, an era when the othering of people from colonies extended to actual human zoos.

The criteria that I found most valuable when making my decisions were the following: What is the size of the investor community invested in other offerings on the platform to-date? Does the platform accept investments via credit card? For example, about 40% of my crowdfunding investors invested with a credit card. Does the platform allow for campaign extensions (if you fall short of your goal within your campaign period, can you extend the campaign until you reach your goal)? I’ve extended my campaigns multiple times. Does the platform allow for multiple disbursements? I prefer to disburse money from my campaign once a month. However, many platforms don’t allow you to disburse the funds until after the campaign is over What are the fees? Platforms can charge between 5-20% of your raise as fees, with some platforms having complicated fee structures that involve taking some of your Securities as part of the offering. Some platforms require you to pay them cash upfront before launching an offering. Does the platform allow you to set your own terms? For example, some platforms don’t allow you to sell convertible notes. Some others don’t allow you to sell non-voting common stock. Some platforms insist that they set the valuation for your startup in order to launch—the logic being that they know their investors, and they want to provide them with a “good deal.” For many reasons, you want to sell the Security that’s right for your startup. Does the platform allow you to have design freedom on the campaign page? You want to make sure that your brand is well represented. The aesthetics and optimization of the page are highly correlated with conversion (how many people invest after visiting your page). Does the platform support analytics? You need advanced analytics to market your offering. Some platforms, for example, allow you to enter a Facebook Pixel and Google Analytics code into the campaign page, while others do not. Does the platform have a good reputation? You will be driving a lot of potential investors and media folks to this platform, and you want to be sure that your platform of choice hasn’t been involved in anything shady in the past. Does the platform allow you to update your investors and prospective investors with campaign notifications? Some platforms have a built-in functionality where you can post updates right on the campaign, download email, and mailing contact lists of your investors (allowing you to contact them by email and allowing you to build Facebook “lookalike audiences”). Whereas, other platforms don’t even share the email addresses of the folks who have already invested in your startup. Does the platform support or plan to support secondary trading for the Securities that it sells on its platform? Will your investors be able to sell the Securities that they buy from you? The ability to sell Securities in a marketplace brings a lot of liquidity and increases its value significantly. In order to allow for secondary trading, the platform needs to obtain an Alternative Trading System (ATS) approval from FINRA.

By the start of the seventeenth century, there was little to show for the attempts to emulate the success of the Spanish and the Portuguese. New trading entities had been set up to try to raise money from private funds, starting with the Company of Merchant Adventurers for the Discovery of Regions, Dominions, Islands and Places Unknown, founded in 1551. A cluster of new and separate companies with different geographic ambitions mushroomed around it. The Spanish Company, the Eastland Company, the Levant Company, the Russia Company, the Turkey Company and the East India Company were founded with royal charters that granted monopolies on commerce within a designated region or country on the basis that business overseas was risky and required substantial investment. As such, incentivising merchants by protecting future success was an innovative way of trying to build up England’s trade—and with it, extending the country’s political tentacles.

What has changed about our era is how successful capitalism has become in colonizing our everyday lives, and how market dependency has bulldozed through efforts to check it.3 People have used markets for trading and exchange for centuries. What is unique today is how the economy has been restructured to extend and accelerate our reliance on markets into all aspects of society. For all the language about how markets open up opportunities, they also create dependencies as well. As Wood notes, what defines our current way of dealing with markets “is not opportunity or choice but, on the contrary, compulsion.” The things we need to lead our lives are forced into markets where we are compelled to obtain them,

Being full of both grace and truth is part of his glory revealed. It’s not a balancing act. The goal is to max out both, neglecting neither. This fullness defined Jesus, yet our pendulum tends to swing a mile to the left or a mile to the right, depending on what our formative faith environment emphasized. Very few of us have been nurtured toward both. Some of us grew up in a truth-focused faith environment or church. Typically, these environments value doctrine over method or, at the bare minimum, focus more on Scripture, study, and obedience than on understanding freedom and grace. While this environment may result in a more developed view of a doctrinal gospel, it often lacks the ability to empathize appropriately during a situational or social issue. Our default becomes a form of legalism, and our confidence is often misinterpreted as arrogance or even judgment. Conversely, some of us grew up in a grace-focused faith environment or church. Typically, it is these “it’s the heart that matters” environments that often value the how over the what. The life that accompanies this focus is often expressed outside the walls of a church service or Bible study. Our default is grace, at times seemingly at the expense of truth, and our freedom is often misinterpreted as being too compromising. Those of us who grew up in truth-focused environments most likely struggle with extending grace to ourselves and others. Those of us who grew up in grace-focused environments most likely struggle with applying truth to ourselves and others. And so we clash when we come together to pursue gospel living, not always realizing the reason we see things so differently. What can we do about this? Knowing where our roots lie is a great place to start. From there we can ask the questions, Do I need to apply more truth to this situation, issue, or relationship, or do I need to extend more grace? and, How is my perspective perhaps skewed by my faith environment background?

Because women don’t always have to be what we’re told to be. Becoming a mother does not make us maternal. Having a child doesn’t mean we must comply with the standards men unilaterally impose on us. The women of my family have lived their own way for hundreds of years. The boy had a father, with a house and extended family around him. They had a shop, a trade, routines. I wanted none of it. And why should I? Men get to spread their seed and run away. Why do women never feel entitled to make the same decision?

In a country so distant, so naturally poor, more impoverished by misgovernment and internal discord, and the meddling of a powerful and grasping neighbour, we must not look for the extended dealings that dignify trade, nor for the refinement, luxury, art, which adorned the free cities of the Continent. Instead of these we may find something even more valuable, if we are able to trace to our free institutions, and to the burgh life that glowed from them, a sturdy independence and self-reliance, honest frugality, a respect for law and order, and an intelligent love of education, somewhat above our neighbours, which, I hope, still mark our nation. In the early literature of Scotland we have a worthy reflection of her history. Her first poet sung the achievements of Bruce. Her greatest satirist aimed his shafts at the corruptions of Rome. In the homely burghs of Scotland we may find the first spring of that public spirit, the voice of the people, which in the worst of times, when the crown and the law were powerless, and the feudal aristocracy altogether selfish in its views, supported the patriot leaders Wallace and Bruce in their desperate struggle, and sent down that tide of native feeling which animated Burns and Scott, and which is not yet dead, however much it may be endangered by the childish follies of its quixotic champions. Whatever of thought, of enterprise, of public feeling, appears in our poor history, took rise in our burghs, and among the burgess class.

The only substantial dispute between North and South, Lincoln asserted, was slavery. “One section of our country believes slavery is right, and ought to be extended, while the other believes slavery is wrong, and ought not to be extended.” The Fugitive Slave Law and the suppression of the foreign slave trade now struck an imperfect balance, which might only be made worse after separation of the two sections. Physically speaking, said Lincoln, “we cannot separate. We cannot remove our respective sections from each other, nor build an impassable wall between them. . . . Suppose you go to war, you cannot fight always; and when, after much loss on both sides, and no gain on either, you cease fighting, the identical old questions . . . are again upon you.”18 All the authority of the president, he continued, comes from the people, “and they have conferred none upon him to fix terms for the separation of the States.” The people themselves can do this if they choose, but the executive, as such, has nothing to do with it. His duty is to administer the present government and “to transmit it, unimpaired by him, to his successor.” Since the power ultimately rests with the people, if they wish they can turn elected officials out of office “at very short intervals.” No administration, and certainly not his, said Lincoln, “by any extreme wickedness or folly, can very seriously injure the government, in the short space of four years.” And just as the power to elect and dismiss presidents came from the people, so too did the power to decide the direction of the country. “In your hands, my dissatisfied countrymen, and not in mine, is the momentous issue of civil war. The government will not assail you. You have no conflict, without being yourselves the aggressors. You have no oath registered in Heaven to destroy the government, while I shall have the most solemn one to ‘preserve, protect, and defend’ it.”19 Lincoln

The making of these bricks taught me an important lesson in regard to the relations of the two races in the South. Many white people who had had no contact with the school, and perhaps no sympathy with it, came to us to buy bricks because they found out that ours were good bricks. They discovered that we were supplying a real want in the community. The making of these bricks caused many of the white residents of the neighbourhood to begin to feel that the education of the Negro was not making him worthless, but that in educating our students we were adding something to the wealth and comfort of the community. As the people of the neighbourhood came to us to buy bricks, we got acquainted with them; they traded with us and we with them. Our business interests became intermingled. We had something which they wanted; they had something which we wanted. This, in a large measure, helped to lay the foundation for the pleasant relations that have continued to exist between us and the white people in that section, and which now extend throughout the South.

Around the same time, Congress passed the Economic Recovery Tax Act. Among other things, it extended the life of net operating loss carry-forwards (NOLs) from seven to fifteen years. NOLs allow companies to offset their current year’s taxable income with past losses, thereby reducing current tax liability. The goal of the act was to help struggling companies recover and to enable their shareholders to benefit from the prior losses. We took a look at all of the public companies with large NOLs and found something surprising. These companies had virtually no change in share price as a result of the new legislation. The market was overlooking the significant value added through the extended life of NOLs. That presented us with an enormous opportunity to gain control of those NOLs and create holding companies for businesses whose profits would be shielded. If a company was trading at $3 a share for a total enterprise value of $45 million and it had $350 million in NOLs, we knew we could create profits that were sheltered and convert those NOLs (which were valued at $0) to roughly $100 million of cash, or 25 cents on the dollar over time. And that’s just what we did.

Extended kinship groups - sometimes located on one plantation, more commonly extended over several - became the central units of slave life, ordering society, articulating values, and delineating identity by defining the boundaries of trust. They also became the nexus for incorporating the never-ending stream of arrivals from the seaboard states into the new society, cushioning the horror of the Second Middle Passage, and socializing the deportees to the realities of life on the plantation frontier. Playing the role of midwives, the earlier arrivals transformed strangers into brothers and sisters, melding the polyglot immigrants into one. In defining obligations and responsibilities, the family became the centerpole of slave life. The arrival of the first child provided transplanted slaves with the opportunity to link the world they had lost to the world that had been forced upon them. In naming their children for some loved one left behind, pioneer slaves restored the generational linkages for themselves and connected their children with grandparents they would never know. Some pioneer slaves reached back beyond their parents' generation, suggesting how slavery's long history on mainland North America could be collapsed by a single act. Along the same mental pathways that joined the charter and migration generations flowed other knowledge. Rituals carried from Africa might be as simple as the way a mother held a child to her breast or as complex as a cure for warts. Songs for celebrating marriage, ceremonies for breaking bread, and last rites for an honored elder survived in the minds of those forced from their seaboard homes, along with the unfulfilled promise of the Age of Revolution and evangelical awakenings. Still, the new order never quite duplicated the old. Even as transplanted slaves strained their memories to reconstruct what they had once known, slavery itself was being recast. The lush thicket of kin that deportees like Hawkins Wilson remembered had been obliterated by the Second Middle Passage. Although pioneer slaves worked assiduously to knit together a new family fabric, elevating elderly slaves into parents and deputizing friends as kin, of necessity they had to look beyond blood and marriage. Kin emerged as well from a new religious sensibility, as young men and women whose families had been ravaged by the Second Middle Passage embraced one another as brothers and sisters in Christ. A cadre of black evangelicals, many of who had been converted in the revivals of the late eighteenth century, became chief agents of the expansion of African-American Christianity. James Williams, a black driver who had been transferred from Virginia to the Alabama blackbelt, was just one of many believers who was 'torn away from the care and discipline of their respective churches.' Swept westward by the tide of the domestic slave trade, they 'retained their love for the exercises of religion.

2. Don’t trade penny stocks. A penny stock is any stock that trades under $5. Unless you are an advanced trader, you should avoid all penny stocks. I would extend this by encouraging you to also avoid all stocks priced under $10. Even if you have a small trading account ($5,000) or less, you are better off buying fewer shares of a higher-priced stock than a lot of shares of a penny stock. That is because low-priced stocks are most often associated with lower quality companies. As a result, they are not usually allowed to trade on the NYSE or the Nasdaq. Instead, they trade on the OTCBB ("over the counter bulletin board") or Pink Sheets, both of which have much less stringent financial reporting requirements than the major exchanges do. Many of these companies have never made a profit. They may be frauds or shell companies that are designed solely to enrich management and other insiders. They may also include former “blue chips” that have fallen on hard times like Eastman Kodak or Lehman Brothers. In addition, penny stocks are inherently more volatile than higher-priced stocks. Think of it this way: if a $100 stock moves $1, that is a 1% move. If a $5 stock moves $1, that is a 20% move. Many new traders underestimate the kind of emotional and financial damage that this kind of volatility can cause. In my experience, penny stocks do not trend nearly as well as higher-priced stocks. They tend to be more mean-reverting (Mean reversion occurs when a stock moves up sharply from its average trading price, only to fall right back down again to its average trading price). Many of them are eventually headed to zero, but they are still not good short candidates. Most brokers will not let you short them. And even if you do find a broker who will let you short a penny stock, how would you like to wake up to see your penny stock trading at $10 when you just shorted it at $2 a few days before? I learned that lesson the hard way. It turned out that I was risking $8 to make $2, which is not a good way to make money over the long term. To add injury to insult, a penny stock might appear to be liquid one day, and the next day, the liquidity dries up and you are confronted by a $2 bid/ask spread. Or the bid might completely disappear. Imagine owning

Thus Virginia ceded the vital functions of shipping and trade finance to cities in the North. Functions for trading hubs required the type of work known today as white collar: coordinating logistics, arranging for insurance, negotiating trade terms, extending trade capital, maintaining wholesale facilities, and others. Trading spawned other activity. Trading ports were the prime conduits of information, the aggregate of which Adam Smith would call the “invisible hand” of the market: information used by entrepreneurs and businessmen to adjust their activity to maximize profit. The more dynamic the information flow, the more fluid the opportunities were to profit from the shifting tides of the market. The more fluid the opportunities, the easier it was for new entrants and upstarts to make a name. Eventually this would lead to a far wider and greater set of urban opportunities in the North than in the single-crop colonies of the South.

The cost of the CAP remained a heavy burden for the EU, with half the budget going to support a sector that employs less than 5 per cent of the working population, much of it for a small minority of the bigger and richer farmers (see Chart 3). By the end of the 1990s, moreover, the twin pressures of enlargement to the east and negotiations within the newly established World Trade Organization (WTO) were forcing the EU into a greater focus on structural reform. New member states, with their large agricultural sectors, were set to drive up costs very significantly, while the need to secure agreement in WTO trade liberalization negotiations was placing increasing pressure on reductions in levels of agricultural support. Consequently, the EU agreed substantial cuts for some products in 1999, as part of wider budgetary negotiations, as well as introducing the notion of a multifunctional CAP (i.e. one that extends into the social and environmental dimensions that surround farming). This recasting of the CAP as a ‘rural’ policy—confirmed by the 2008 ‘health check’—was an important step in helping to unblock the reforms that some states, notably France, had put on hold.

I never wavered from the mission: getting the best possible number and price on every game. And no matter the obstacles, via trial and error, I became the best in the world at finding that number and concealing the source. The business of sports betting might seem like quantum physics to the general public. At the highest level, it is closer to psychological warfare between bettor and bookmaker—cat and mouse, hunter and prey. The posted line is just a way to trigger the game. Some cynics assume that my goal was to put every bookie out of business—but nothing could be further from the truth. Bookmakers strive for balance. They never want to tilt too far on one side of the action. Bookies breathe easiest in the middle, taking equal money and profiting off the 10 percent juice. If a bookie was destroyed, it meant he either closed his shop or reduced his limits. Neither scenario did me any good. My goal was to keep the bookmakers in business and expand their limits. This served to increase the size of the market, which meant more potential profit for me. The smartest bookies had solved this riddle and wanted to do business with me directly. They wanted to know straight from the horse’s mouth what games I liked. If they were smart, they took my information and profited by shading their line and forcing customers to the other side, extending limits. A smart bookmaker knows there will be winners and losers. They also understand that there is no business if there are no winners. Translated: the smartest bookmakers are open to all comers—just like baccarat, blackjack, and craps. The brightest bookmakers know they can use smart money for their own benefit. Early in my career, the major-league bookmakers were Bob Martin, Johnny Quinn, Gene Maday, and Scotty Schettler. Following in their footsteps are Nick Bogdanovich, Jimmy Vaccaro, Richie Baccellieri, Matt Metcalf, and Chris Andrews. They are grand masters of the art. They know how to book. How smart are they? Well, Nick ran the William Hill U.S. sportsbook operation and then oversaw Caesars Sports trading for nearly a decade before being hired as sportsbook manager at Circa. Jimmy is the senior linemaker at the sports-betting network VSiN and vice president of sports marketing at the South Point Hotel, Casino & Spa. Richie B., who ran the counter at the MGM, Caesars, and the Palms, now works as the director of product development at Circa alongside Nick. Chris Andrews, legendary oddsmaker Jack “Pittsburgh Jack” Franzi’s nephew, is the sportsbook director and Jimmy’s sidekick at the South Point, owned and operated by Michael Gaughan, another Las Vegas legend. In 1992, Jack Binion was Nick Bogdanovich’s boss at the Horseshoe. I could bet $25,000 on a game of college football at eight o’clock Monday morning, and $50,000 on a pro football game.

The fertility versus longevity trade-off may be one reason why spaying and neutering our pets can extend their lives. Based on a study of millions of dogs and cats,2715 sterilized male and female dogs live about 20 percent longer than “intact” dogs, spayed female cats live about 40 percent longer, and neutered male cats a remarkable 60 percent longer.2716

In April 1933, French naval captain Georges Meesemaecker set sail from Saigon, in France’s colony of Vietnam. The South China Sea into which he headed was the province of fishermen. For world trade, it was a backwater. The captain’s mission was to extend the sovereignty of the fraying French empire in Indochina to its remote outer limits. This he would do by establishing “possession” of a group of “land features” in the South China Sea known as the Spratly Islands, named for a British sea captain who in 1843 had sighted one of them.

Not only is the system distorted by its bias towards investing in what happens to be profitable, but even within that sphere there is no reason to expect the profit motive to lead to a well-balanced pattern of investment. This has always been a weak point in the neo-classical system. The doctrine that, under conditions of free competition, given resources are used to yield maximum satisfaction, applies essentially to an equilibrium position. It can be demonstrated only by assuming that an equilibrium exists and showing that a /departure /from it would be harmful (it also has to assume, of course, that the distribution of income is somehow what it ought to be). Walras had the ingenious idea of making the inhabitants of his market “shout” their offers until the equilibrium has been found, and then start actual trading at the equilibrium prices. It is pure effrontery to extend this kind of equilibrium conception to investment; an equilibrium pattern of investment worked out on this system is possible only in a fully planned economy (if there). [p. 125]

Then the cycle began again under the Qing Dynasty. China achieved its maximum territorial expansion, governing over a third of the world’s population while reforms under the reigns of three long-ruling emperors led to an extended period of economic prosperity.3 Then the European powers arrived. Earlier in this book we saw how the European powers, in the Age of Exploration, used their military strength to trade with and exploit resource-rich but militarily weaker foreigners. That’s what happened starting in the early 1800s, which began what is called the Century of Humiliation in China. The Europeans came offering to trade but the Chinese didn’t want anything they had to offer. This led to the British bringing opium into China to get the Chinese addicted, so that they would trade for it. A series of military confrontations followed during the 1800s (most notably the Opium Wars), which sped China’s decline. Chinese moves to stem their decline failed and there was great internal conflict and uprisings (most notably the Taiping Rebellion), which continued until the collapse of the Qing Dynasty in 1912.

Coates and his new colleagues examined a group of financial traders working on a London trading floor, asking each one to identify the successive moments when he felt his heart beat—a measure of the individual’s sensitivity to bodily signals. The traders, they found, were much better at this task than were an age- and gender-matched group of controls who did not work in finance. What’s more, among the traders themselves, those who were the most accurate in detecting the timing of their heartbeats made more money, and tended to have longer tenures in what was a notably volatile line of work. “Our results suggest that signals from the body—the gut feelings of financial lore—contribute to success in the markets,” the team concluded. Confirming Coates’s informal observations, those who thrived in this milieu were not necessarily people with greater education or intellect, but rather “people with greater sensitivity to interoceptive signals.

In the movie Star Wars, the malign aspect of technology is the Death Star. It is an object huge and disconnected from humanness that reduces its clients to clones-recognizably human, but all identically in thrall to the machine, all drained of color and drained of will. Its protagonist, Darth Vader, is not a full human being either. He is constructed-part technology, part human body. The heroes, Luke Skywalker and Han Solo, by contrast are fully human. They have individuality, they have will, and they hang with creatures in a haunt called the Mos Eisley Cantina-creatures that are strange, distorted, and perverse, but that brim with messy vitality. If you look at the heroes, they have technology as well. But their technology is different. It is not hidden and dehumanizing; their starships are rickety and organic and have to be kicked to get running. This is crucial. Their technology is human. It is an extension of their natures, fallible, human, individual, and therefore beneficent. They have not traded their humanness for technology, nor surrendered their will to technology. Technology has surrendered to them. And in doing so it extends their naturalness.

The analogy between infertile heterosexuals and same-sex couples misses the point. The extension of marriage to infertile heterosexual couples serves not to deprecate same-sex couples, but to preserve the equal status of women in marriage. A test for fertility would be unfair to women because all women spend most of their adult lives in a state of infertility. Fertile women are infertile most days of a month, and postmenopausal women are always infertile. A fertility requirement would also render women susceptible to enormous abuse by men, providing a ready excuse for men who would trade in older women for nubile brides. The status of women in marriage would be intolerably diminished through this practice. Infertility is less common among men, as they can sire children into old age. Moreover, men, like women, typically do not discover that they are infertile until they attempt to sire children, at which time they ought already to be married. A measure that serves primarily to protect women and to preserve their equal status within the institution of marriage is not a measure that is an appropriate basis by which to judge that the same should go for same-sex couples. One of the great challenges men and women face in marriage is in coming to terms with their differences while respecting the status of the other as an equal. Acceptance of infertility is a measure promoting this end. A measure to accommodate the reality of sex-based difference in marriage is no reason to extend marriage to same-sex couples. Moreover, accommodation for infertility in no way diminishes the reality that the inequality of the parent-child relationship is what differentiates marriage from other contractual relationships. It is the parent-child relation, as it emerges from sexual difference and procreation, which elevates marriage above a mere contract, and renders it a sacred duty.

She was. It was just the two of us, though. You have a big family and everyone is always into everyone else’s business. I think it’s fun.” “It’s only fun when it’s not you.” “I don’t think you’d trade them for another family, though, would you?” I considered his question for a moment. “I wouldn’t trade them,” I finally said. “I’d just send them on extended vacations from time to time.

8.      Impulse Waves can be either Extended or Truncated as explained below.   Extensions a)      Extensions are elongated impulse sub-waves that mostly occur in one of the impulse waves 1, 3 or 5. b)     An Extension might occur in either, any two, or all the following conditions: a.      A high volume (greater than that of the 3rd

I have no doubt that she is sincerely desirous of seeing all the evils of suffering humanity remedied, and that she thinks this might easily be done, if Government would only undertake it. But, alas! that poor unfortunate personage, like Figaro, knows not to whom to listen, nor where to turn. The hundred thousand mouths of the press and of the platform cry out all at once:-- "Organize labour and workmen. "Do away with egotism. "Repress insolence and the tyranny of capital. "Make experiments upon manure and eggs. "Cover the country with railways. "Irrigate the plains. "Plant the hills. "Make model farms. "Found social workshops. "Colonize Algeria. "Suckle children. "Instruct the youth. "Assist the aged. "Send the inhabitants of towns into the country. "Equalize the profits of all trades. "Lend money without interest to all who wish to borrow." "Emancipate Italy, Poland, and Hungary." "Rear and perfect the saddle-horse." "Encourage the arts, and provide us with musicians and dancers." "Restrict commerce, and at the same time create a merchant navy." "Discover truth, and put a grain of reason into our heads. The mission of Government is to enlighten, to develop, to extend, to fortify, to spiritualize, and to sanctify the soul of the people." "Do have a little patience, gentlemen," says Government in a beseeching tone. "I will do what I can to satisfy you, but for this I must have resources. I have been preparing plans for five or six taxes, which are quite new, and not at all oppressive. You will see how willingly people will pay them." Then comes a great exclamation:--"No! indeed! where is the merit of doing a thing with resources? Why, it does not deserve the name of a Government! So far from loading us with fresh taxes, we would have you withdraw the old ones. You ought to suppress "The salt tax, "The tax on liquors, "The tax on letters, "Custom-house duties, "Patents." In

Compare Holland with Russia; you see only marshy and sterile islands in the former, which rise from the center of the ocean: a small republic which is only 48 miles length by 40 wide. But this small body is the very nerve-center of the region: immense people live in it, and these industrious people are both powerful and rich. They shook the yoke of the Spanish domination, which was then the most formidable monarchy of Europe. The trade of this republic extends to the ends of the world; and new trade appears almost immediately; it can maintain in times of war an army fifty thousand men, without counting a many and well maintained fleet.

To smooth over Castro’s ruffled feathers; Khrushchev eventually wrote him a personal letter explaining his reasons for reaching an agreement with the United States following the Cuban Missile Crisis. In it, he also extended Castro an invitation to come and visit him in Moscow. The Cuban leader, feeling that this enhanced his international standing, set aside his resentments and swallowed his pride, knowing that his country would have to depend on the USSR for its many needs. He also understood that the ideology that brought his country to where it was had also created many divisions among its people. The United States, on which Cuba had depended on for so many years, was no longer an ally they could trade with, and the new friendship with a distant country created many of its own problems. Many of Cuba’s professional class had fled the country for the United States, when the companies they worked for became nationalized. The brain drain Cuba experienced was hard to replace, and most of those that had stayed, were not prepared to fill the more technical positions. The shelves were bare and people were becoming intolerant of the many domestic problems they were required to face.

Havana could almost be thought of as three separate cities. It is comprised of Old Havana, which is the central part of the city, Vedado, which was the expansion of the central part, and now the newer outlying suburban areas that extend beyond the earlier boundaries. Although the epidemic of 1649 killed many and sickened a third of the city’s population, during the Colonial years Havana remained larger than either Boston or New York City. During this era, at different times the French and British invaded Havana. The Battle of Havana was a military action which lasted from March to August of 1762, as part of the Seven Years' War. The British occupied and ruled the city for just one year before trading Cuba for Florida. When Spain regained control in 1763, it took steps to prevent Britain from returning, by sturdily fortifying the city with massive stone walls and castles. In the 19th Century, the city prospered and became a center for the arts, fashion and wealth. Theaters, fashion houses and mansions were built and Havana became known as “The Paris of the Antilles.

Carthage was a spider’s web of trade and communications that spread eastward to Egypt and the Levant, and westward as far as scarcely imaginable places beyond Spain. Where the Mediterranean issued between the giant Pillars of Hercules (Gibraltar and Ceuta) into the misty Ocean that lapped the whole world round, the Carthaginians had planted trading posts. Their interests extended as far north as Britain and the Baltic, as well as to the Canary Islands, the Cameroons, and possibly even the Azores.

I wouldn’t trade them,” I finally said. “I’d just send them on extended vacations from time to time.

in a difficult market environment, profits will be smaller than normal and losses will be larger; downside gaps will be more common, and you will likely experience greater slippage. The smart way to handle this is to do the following: Tighten up stop-losses. If you normally cut losses at 7 to 8 percent, cut them at 5 to 6 percent. Settle for smaller profits. If you normally take profits of 15 to 20 percent on average, take profits at 10 to 12 percent. If you’re trading with the use of leverage, get off margin immediately. Reduce your exposure with regard to your position sizes as well as your overall capital commitment. Once you see your batting average and reward/risk profile improve, you can start to extend your parameters gradually back to normal levels.

Finally, I hereby certify that I don’t pretend to know with any certainty why it is that I keep coming back to these scenes, to imagining these men and women and children chained in the rocking dark. While it would be most legible, and even palatable, to chalk it up to the theft of four hundred years of labor, to the profits of the trade that extend by corporate succession right up through to the bank that lent me the money to study the history of their own barbarism, it isn’t economic reasoning or public justice that won’t let me go. It’s the withered bodies, the cries of the dying, the blood-soaked decks, that carnival of evil that each morning I try to medicate into the floor. The fact is that when I read the story of the Joaquin, I feel understood. Not in any literal sense—the comparison of my dread to theirs would be grotesque—but in the unrelenting terror, in that schism of the mind. Which is how I know now that the dead generations don’t haunt down tidy racial lines, as if there were such a thing. The psychosis is shared. I was born into the fantasy of its supremacy. Others are born into the fantasy’s cost. But the source of the violence is the same. The work I do is for no one’s sake but my own.

In fact, trading in looted Nazi gold was official US policy until Germany’s declaration of war precluded the practice. The relevant passage from the Commission report merits extended quotation:

History tells us that our social group is far less dear to us if it is not also our economic group. If we need others less, then we love them less and respect them less. This is one of the reasons why extended families have been whittled down to nuclear families in the West. Extended families used to be economic units, giving people reasons to keep up with distant aunts and nephews as they would be the avenues through which new jobs are found and new trades occur. When that overlap of the social group and the economic group was replaced by more anonymous trading, we gradually lost interest in keeping up with extended families.

History tells us that our social group is far less dear to us if it is not also our economic group. If we need others less, then we love them less and respect them less. This is one of the reasons why extended families have been whittled down to nuclear families in the West. Extended families used to be economic units, giving people reasons to keep up with distant aunts and nephews as they would be the avenues through which new jobs are found and new trades occur. When that overlap of the social group and the economic group was replaced by more anonymous trading, we gradually lost interest in keeping up with extended families. Nuclear families remained powerful because so much of value is produced in them: childcare, sex, everyday companionship, and children. Our deep need for such outputs sustains the nuclear family as a core group in Western society.

A cavalry scout is generally thought to function as the eyes and ears of a commander during battle. But in fact, a scout’s role extends quite a bit further. We refer to ourselves as “jacks-of-all-trades, masters of none,” and we are trained to have a working familiarity with—quite literally—every job in the army. We are experts in reconnaissance, countersurveillance, and navigation, but we’re also extremely comfortable with all aspects of radio and satellite communications. We know how to assemble and deploy three-man hunter/killer teams. We’re pretty good at blowing things up using mines and high explosives. We can function as medics, vehicle mechanics, and combat engineers. And we have a thorough understanding of every single weapons system, from a 9-mm handgun to a 120-mm howitzer.