Trading Time For Money Quotes

Most women sell sex; most of them just don’t take cash (nor do they each sell to more than one ‘client’ at a time).

Money is something you trade your life energy for. You sell your time for money. It doesn’t matter that Ned over there sells his time for a hundred dollars and you sell yours for twenty dollars an hour. Ned’s money is irrelevant to you. The only real asset you have is your time. The hours of your life.

In trading you have to be defensive and aggressive at the same time. If you are not aggressive, you are not going to make money, and if you are not defensive, you are not going to keep money.

Money is a very pleasant thing, Willie, and I think you can trade almost anything for it wisely except the work you really want to do. If you sell out your time for a comfortable life, and give up your natural work, I think you lose the exchange. There remains an inner uneasiness that spoils the comforts.

The moral is, never be sorry for a waiter. Sometimes when you sit in a restaurant, still stuffing yourself half an hour after closing time, you feel that the tired waiter at your side must surely be despising you. But he is not. He is not thinking as he looks at you, 'What an overfed lout'; he is thinking, 'One day, when I have saved enough money, I shall be able to imitate that man.' He is ministering to a kind of pleasure he thoroughly understands and admires. And that is why waiters are seldom Socialists, have no effective trade union, and will work twelve hours a day--they work fifteen hours, seven days a week, in many cafés. They are snobs, and they find the servile nature of their work rather congenial.

Just one violation may cost you not only money but a lot of time to rebuild what you had in the past.

Time, not money, is your biggest asset in life. You need time to invest in relationships (with yourself and your family) or to chase your passion. "Think again" if you are still trading off time for money. Let your money work for you. You don't work for money. That is exactly what Financial Freedom is...

Why did it feel so taboo, I asked, to approach work the way most people did, as a trade of my time and labor for money? Why did we have to pretend it was all so fun? Leah nodded, curls bobbing. ‘That's real,’ she said. ‘But I wonder if you're forcing things. Your job can be in service of the rest of your life.

Losses are necessary, as long as they are associated with a technique to help you learn from them

giving with display is not giving, but trading. I give you money, you give me prestige. Philanthropy that does not degrade is done so quietly not even the rescued learns the name of his rescuer.

I miss my old paycheck and the sense of pride, power, and worth that it gave me. I make a lot less money now. A lot less. But what I’ve lost in dollars, I’ve gained in time. I have time in the afternoons now to help Charlie and Lucy with their homework, to play Wii with them, to watch Charlie’s soccer games, to take a nap with Linus. I can’t wait to spend afternoons snowboarding. I have time to paint a portrait of Lucy (my only child who will sit still long enough) or the apples we picked at the local orchard. I have time to read novels, to meditate, to watch the deer walk across the backyard, to have dinner every night with my family. Less money, more time. So far, the trade-off has been worth every penny.

What if you knew you wouldn't fail--what would you do? What if time and money weren't an object--what God-sized goal would you go after? If you're looking for an excuse, you'll always find one. The same is true of opportunity.

You’re already a financial trader. You might not think of it in just this way, but if you work for a living, you’re trading your time for money. Frankly, it’s just about the worst trade you can make. Why? You can always get more money, but you can’t get more time.

Their incredible determination creates the need for nonlinear thinking, combined with boundless energy. Champions also earn money in nonlinear ways. While the masses essentially trade their time for money, the great ones realize this is probably the worst way to acquire wealth. Using

When we were young, we all desired to grow up, now, once grown up we all desire to be young again. Being poor, we trade our time and health for money, only to use that money for time and health.

For anyone who thinks "profit" is evil, I have a challenge for you: try NOT to get any profit in the next week. Profit simply means increasing how much valuable stuff you have, and if you don't profit, you die. Literally. For example, don't buy any food for a week, because when you buy food (or anything), it's because you value the food MORE than you value the money you trade for it. If you didn't, you wouldn't make the trade. So you PROFIT (and so does the seller) every time you buy something. And every time you sell something, or work for money, etc. So before condemning "profit" (or "greed" or "selfishness," for that matter), see if you can survive without it. Then stop repeating vague collectivist BS, and learn to distinguish between "win/win" events (voluntary exchange) where BOTH sides profit, and "win/lose" events, where one side benefits by harming the other side. By the way, "government" is ALWAYS the latter.

You don’t make money by trading, you make it by sitting.” It takes patience to wait for the trade to develop, for the opportunity to present itself. Let the market come to you, instead of chasing the market. Chart patterns are very accurate. They have proven their accuracy and predictability time and time again, but you have to wait for them to develop.

Ah, God, it were an easy Matter to choose a Calling had one all Time to live in! I should be fifty Years a Barrister, fifty a Physician, fifty a Clergyman, fifty a Soldier! Aye, and fifty a Thief, and fifty a Judge! All Roads are fine Roads, beloved Sister, none more than another, so that with one Life to spend I am a Man bare-bumm'd at Taylors with Cash for but one pair of Breeches, or a Scholar at Brookstalls with Money for a single Book: to choose ten were no Trouble; to choose one, impossible! All Trades, all Crafts, all Professions are wondrous, but none is finer than the rest together. I cannot choose, sweet Anna: twixt Stools my Breech falleth to the Ground!

I think records were just a little bubble through time and those who made a living from them for a while were lucky. There is no reason why anyone should have made so much money from selling records except that everything was right for this period of time. I always knew it would run out sooner or later. It couldn't last, and now it's running out. I don't particularly care that it is and like the way things are going. The record age was just a blip. It was a bit like if you had a source of whale blubber in the 1840s and it could be used as fuel. Before gas came along, if you traded in whale blubber, you were the richest man on Earth. Then gas came along and you'd be stuck with your whale blubber. Sorry mate – history's moving along. Recorded music equals whale blubber. Eventually, something else will replace it.

At present, a good many men engaged in scientific pursuits, and who have signally failed in gaining recognition among their fellows, are endeavoring to make reputations among the churches by delivering weak and vapid lectures upon the 'harmony of Genesis and Geology.' Like all hypocrites, these men overstate the case to such a degree, and so turn and pervert facts and words that they succeed only in gaining the applause of other hypocrites like themselves. Among the great scientists they are regarded as generals regard sutlers who trade with both armies. Surely the time must come when the wealth of the world will not be wasted in the propagation of ignorant creeds and miraculous mistakes. The time must come when churches and cathedrals will be dedicated to the use of man; when minister and priest will deem the discoveries of the living of more importance than the errors of the dead; when the truths of Nature will outrank the 'sacred' falsehoods of the past, and when a single fact will outweigh all the miracles of Holy Writ. Who can over estimate the progress of the world if all the money wasted in superstition could be used to enlighten, elevate and civilize mankind? When every church becomes a school, every cathedral a university, every clergyman a teacher, and all their hearers brave and honest thinkers, then, and not until then, will the dream of poet, patriot, philanthropist and philosopher, become a real and blessed truth.

However, as the consequences of Black Thursday began to settle in investors’ minds, most people attempted to recover their losses and the dramatic selling began again. On Tuesday 29 October, the day of the Wall Street Crash, more than 16 million shares were dumped in an afternoon of trading. On that one single day, as much money was lost on the New York stock exchange as had been spent in its entirety by the US government on fighting the First World War. It was a disaster. Annette

If you don’t drink coffee, you should think about two to four cups a day. It can make you more alert, happier, and more productive. It might even make you live longer. Coffee can also make you more likely to exercise, and it contains beneficial antioxidants and other substances associated with decreased risk of stroke (especially in women), Parkinson’s disease, and dementia. Coffee is also associated with decreased risk of abnormal heart rhythms, type 2 diabetes, and certain cancers.12, 13 Any one of those benefits of coffee would be persuasive, but cumulatively they’re a no-brainer. An hour ago I considered doing some writing for this book, but I didn’t have the necessary energy or focus to sit down and start working. I did, however, have enough energy to fix myself a cup of coffee. A few sips into it, I was happier to be working than I would have been doing whatever lazy thing was my alternative. Coffee literally makes me enjoy work. No willpower needed. Coffee also allows you to manage your energy levels so you have the most when you need it. My experience is that coffee drinkers have higher highs and lower lows, energywise, than non–coffee drinkers, but that trade-off works. I can guarantee that my best thinking goes into my job, while saving my dull-brain hours for household chores and other simple tasks. The biggest downside of coffee is that once you get addicted to caffeine, you can get a “coffee headache” if you go too long without a cup. Luckily, coffee is one of the most abundant beverages on earth, so you rarely have to worry about being without it. Coffee costs money, takes time, gives you coffee breath, and makes you pee too often. It can also make you jittery and nervous if you have too much. But if success is your dream and operating at peak mental performance is something you want, coffee is a good bet. I highly recommend it. In fact, I recommend it so strongly that I literally feel sorry for anyone who hasn’t developed the habit.

The craft, trade, agriculture, science, a large part of the art - all this can only stand on a broad base , on a consolidated, strong and healthy mediocrity. Served in their services and the science of their work - and even the arts. We cannot wish for better: it belongs to such an average sort of person - it is under displace exceptions - it has nothing aristocratic about something and still les in their anarchic instincts - The power of the center is then held upright by the trade, especially the money market: the instinct of great financiers goes against all extremes, - the Jews are the reason for the time being conserve power in our so insecure and threatened Europe.

I am leaving this tower and returning home. When I speak with family, and comments are always the same, 'Won't you be glad to get back to the real world?' This is my question after two weeks of time, only two weeks, spent with prairie dogs, 'What is real?' What is real? These prairie dogs and the lives they live and have adapted to in grassland communities over time, deep time? What is real? A gravel pit adjacent to one of the last remaining protected prairie dog colonies in the world? A corral where cowboys in an honest day's work saddle up horses with prairie dogs under hoof for visitors to ride in Bryce Canyon National Park? What is real? Two planes slamming into the World Trade Center and the wake of fear that has never stopped in this endless war of terror? What is real? Forgiveness or revenge and the mounting deaths of thousands of human beings as America wages war in Afghanistan and Iraq? What is real? Steve's recurrence of lymphoma? A closet full of shoes? Making love? Making money? Making right with the world with the smallest of unseen gestures? How do we wish to live And with whom? What is real to me are these prairie dogs facing the sun each morning and evening in the midst of man-made chaos. What is real to me are the consequences of cruelty. What is real to me are the concentric circles of compassion and its capacity to bring about change. What is real to me is the power of our awareness when we are focused on something beyond ourselves. It is a shaft of light shining in a dark corner. Our ability to shift our perceptions and seek creative alternatives to the conundrums of modernity is in direct proportion to our empathy. Can we imagine, witness, and ultimately feel the suffering of another.

investment books in the library. The best was How to Trade in Stocks, by Jesse Livermore.

Why did it feel so taboo, I asked, to approach work the way most people did, as a trade of my time and labor for money? Why did we have to pretend it was all so fun?

What are the hours of your life worth? What are you willing to trade them for? How much money are you willing to trade for your time?

But all too often, we manage our time like we manage our money—more goes out than what comes in. We don’t realize how our busyness makes us less stable and more vulnerable.

In a job you trade your freedom and time for money.

Chapter 22 If life is a game, then I've done a poor job of playing it. My time on Earth has been boring and uneventful. I've wasted my youth, sitting around doing nothing when I was full of life and energy. Playing video games, working at simple jobs, trading my time for just enough money to pay the bills and survive; not really learning anything or traveling anywhere.

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.

Thus Marx begins his attack on the liberal concept of freedom. The freedom of the market is not freedom at all. It is a fetishistic illusion. Under capitalism, individuals surrender to the discipline of abstract forces (such as the hidden hand of the market made much of by Adam Smith) that effectively govern their relations and choices. I can make something beautiful and take it to market, but if I don’t manage to exchange it then it has no value. Furthermore, I won’t have enough money to buy commodities to live. Market forces, which none of us individually control, regulate us. And part of what Marx wants to do in Capital is talk about this regulatory power that occurs even “in the midst of the accidental and ever-fluctuating exchange relations between the products.” Supply and demand fluctuations generate price fluctuations around some norm but cannot explain why a pair of shoes on average trades for four shirts. Within all the confusions of the marketplace, “the labour-time socially necessary to produce [commodities] asserts itself as a regulative law of nature. In the same way, the law of gravity asserts itself when a person’s house collapses on top of him” (168). This parallel between gravity and value is interesting: both are relations and not things, and both have to be conceptualized as immaterial but objective.

New York city wasn't yet the post-Giuliani, Bloomberg forever, Disneyland tourist attraction of today, trade-marked and policed to protect the visitors and tourism industry. It was still a place of diversity, where people lived their lives in vibrant communities and intact cultures. Young people could still move to New York City after or instead of high school or college and invent an identity, an art, a life. Times Square was still a bustling center of excitement, with sex work, "adult" movies, a variety of sins on sale, ways to make money for those down on their luck".

If, for example, encouraging someone to buy fair-trade causes that person to devote less time or money to other, more effective activities, then promoting fair-trade might on balance be harmful.

I had watched organics and fair trade explode into billion-dollar industries. But it was hard to say the world was becoming a better place for the marginal spending. In fact, it felt like it was becoming a more insulated one. I kept thinking of the medieval practice of simony, where the wealthy could pay money to be released from their sins. The grocery store felt like it was becoming a smug secular update. The seals and certifications acting like some sort of moral shield, allowing those of us with disposable income to pay extra for our salvation, and forcing everyone else to deal with the fact that on top of being poor, they were tacitly agreeing to harm the earth, pollute their children via their lunch boxes, and exploit their fellow man each time they made a purchase.

I know it’s irritating, when you are strapped for cash, to hear someone say that money can’t buy happiness. And yet, above a certain income level, you are quite literally trading your health and happiness for a modest rise in pay (working excessive hours generally results in a pay raise of 6 to 10 percent). Once you reach a sustainable level of income, more money won’t make you happier, but free time will.

Employment: I’ll trade my time and labor for your money. So time is not money, because money is time plus labor. I spend my time saving money, I spend my money saving time, and I labor hard to not labor hard.

Be greedy when others are fearful and fearful when others are greedy.' Easier said than done for the vast majority of stock traders. ... On every stock trade there is someone who wants to sell and someone who wants to buy, at least at a particular price. ...the person who is selling thinks that she is getting out just in time while the person buying thinks that he is about to make good money. ... The truth is that the market doesn't really reflect some magical perfect valuation of a stock under the efficient market hypothesis. It reflects the mass consensus of how actual individual investors value the stock. It is the sum total of everyone's hopes and fears...

Thou shalt not invest in a needless business. Thou shalt not trade time for money. Thou shalt not operate on a limited scale. Thou shalt not relinquish control. Thou shalt not let a business startup be an event over process.

So we introduced a token system.9 The children were given ten tokens at the beginning of the week. These could each be traded in for either thirty minutes of screen time or fifty cents at the end of the week, adding up to $5 or five hours of screen time a week. If a child read a book for thirty minutes, he or she would earn an additional token, which could also be traded in for screen time or for money. The results were incredible: overnight, screen time went down 90 per cent, reading went up by the same amount, and the overall effort we had to put into policing the system went way, way down. In other words, non-essential activity dramatically decreased and essential activity dramatically increased. Once

Was I trying too hard to make this mean something? I asked Leah. Was that just buying into the industry's own narratives about itself? I tried to summarize the frantic, self-important work culture in Silicon Valley, how everyone was optimizing their bodies for longer lives, which would then be spent productively; how it was frowned upon to acknowledge that a tech job was a transaction rather than a noble mission or a seat on a rocket ship. In this respect, it was not unlike book publishing: talking about doing work for money felt like screaming the safe word. While perhaps not unique to tech--it may even have been endemic to a generation--the expectation was overbearing. Why did it feel so taboo, I asked, to approach work the way most people did, as a trade of my time and labor for money? Why did we have to pretend it was all so fun? Leah nodded, curls bobbing. "That's real," she said. "but I wonder if you're forcing things. Your job can be in service of the rest of your life." She reached out to squeeze my wrist, then leaned her head against the window. "You're allowed to enjoy your life," she said. The city streaked past, the bridge cables flickering like a delay, or a glitch.

Let any one who is acquainted with what multitudes of people get their daily bread in this city by their labour, whether artificers or meer workmen—I say, let any man consider what must be the miserable condition of this town if, on a sudden, they should all be turned out of employment, that labour should cease, and wages for work be no more.  This was the case with us at that time; and had not the sums of money contributed in charity by well-disposed people of every kind, as well as abroad as at home, been prodigiously great, it had not been in the power of the Lord Mayor and sheriffs to have kept the publick peace. Nor were they without apprehensions, as it was, that desperation should push the people upon tumults and cause them to rifle the houses of rich men and plunder the markets of provisions; in which case the country people, who brought provisions very freely and boldly to town, would have been terrified from coming any more, and the town would have sunk under an unavoidable famine.

If you have timed the movement correctly, your first commitment will show you a profit at the start. From then on, all that is required of you is to be alert, watching for the appearance of the danger signal to tell you to step aside and convert paper profits into real money.

I have been in the speculative game ever since I was fourteen. It is all I have ever done. I think I know what I am talking about. And the conclusion that I have reached after nearly thirty years of constant trading, both on a shoestring and with millions of dollars back of me, is this: A man may beat a stock or a group at a certain time, but no man living can beat the stock market! A man may make money out of individual deals in cotton or grain, but no man can beat the cotton market or the grain market. It's like the track. A man may beat a horse race, but he cannot beat horse racing.

From a very early age Edison became used to doing things for himself, by necessity. His family was poor, and by the age of twelve he had to earn money to help his parents. He sold newspapers on trains, and traveling around his native Michigan for his job, he developed an ardent curiosity about everything he saw. He wanted to know how things worked—machines, gadgets, anything with moving parts. With no schools or teachers in his life, he turned to books, particularly anything he could find on science. He began to conduct his own experiments in the basement of his family home, and he taught himself how to take apart and fix any kind of watch. At the age of fifteen he apprenticed as a telegraph operator, then spent years traveling across the country plying his trade. He had no chance for a formal education, and nobody crossed his path who could serve as a teacher or mentor. And so in lieu of that, in every city he spent time in, he frequented the public library. One book that crossed his path played a decisive role in his life: Michael Faraday’s two-volume Experimental Researches in Electricity. This book became for Edison what The Improvement of the Mind had been for Faraday. It gave him a systematic approach to science and a program for how to educate himself in the field that now obsessed him—electricity. He could follow the experiments laid out by the great Master of the field and absorb as well his philosophical approach to science. For the rest of his life, Faraday would remain his role model. Through books, experiments, and practical experience at various jobs, Edison gave himself a rigorous education that lasted about ten years, up until the time he became an inventor. What made this successful was his relentless desire to learn through whatever crossed his path, as well as his self-discipline. He had developed the habit of overcoming his lack of an organized education by sheer determination and persistence. He worked harder than anyone else. Because he was a consummate outsider and his mind had not been indoctrinated in any school of thought, he brought a fresh perspective to every problem he tackled. He turned his lack of formal direction into an advantage. If you are forced onto this path, you must follow Edison’s example by developing extreme self-reliance. Under these circumstances, you become your own teacher and mentor. You push yourself to learn from every possible source. You read more books than those who have a formal education, developing this into a lifelong habit. As much as possible, you try to apply your knowledge in some form of experiment or practice. You find for yourself second-degree mentors in the form of public figures who can serve as role models. Reading and reflecting on their experiences, you can gain some guidance. You try to make their ideas come to life, internalizing their voice. As someone self-taught, you will maintain a pristine vision, completely distilled through your own experiences—giving you a distinctive power and path to mastery.

The Kids at the ranch weren’t hip to exactly how much Charlie wanted to be a rock star. How much he wanted fame, money, and recognition. Because to them, Charlie preached against those base desires. They thought Charlie was on a spiritual path to enlightenment. They thought Charlie’s true desire was to pass on that enlightenment. They thought Charlie’s goal was to create a new world order guided by that enlightenment and love for all Mankind. They believed Charlie had a higher purpose, because he told them he did, and they believed him. It never would occur to them that he’d ditch all that horseshit in a minute to put on revolutionary war outfit and trade places with Mark Lindsay.

All cultures seem to find a slightly alien local population to carry the Hermes projection. For the Vietnamese it is the Chinese, and for the Chinese it is the Japanese. For the Hindu it is the Moslem; for the North Pacific tribes it was the Chinook; in Latin America and in the American South it is the Yankee. In Uganda it is the East Indians and Pakistanis. In French Quebec it is the English. In Spain the Catalans are "the Jews of Spain". On Crete it is the Turks, and in Turkey it is the Armenians. Lawrence Durrell says that when he lived in Crete he was friends with the Greeks, but that when he wanted to buy some land they sent him to a Turk, saying that a Turk was what you needed for a trade, though of course he couldn't be trusted. This figure who is good with money but a little tricky is always treated as a foreigner even if his family has been around for centuries. Often he actually is a foreigner, of course. He is invited in when the nation needs trade and he is driven out - or murdered - when nationalism begins to flourish: the Chinese out of Vietnam in 1978, the Japanese out of China in 1949, the Jankees out of South America and Iran, the East Indians out of Uganda under Idi Amin, and the Armenians out of Turkey in 1915-16. The outsider is always used as a catalyst to arouse nationalism, and when times are hard he will always be its victim as well.

it was all very well for Neville to talk blithely about chucking in this job and getting a nice one instead, but it had taken him a very long time to find anybody who was prepared to trade him money for a part of his lifespan, and the only people who’d proved willing to make such a deal were, by any criteria, as crazy as a barrelful of ferrets.

When the clowns of British politics - arch-Brexiteer cartoon characters 'Boorish Johnson' and 'JackOff Grease-Smug' advocate ad infinitum that Britain should leave the EU in order to be free to sign her own trade deals; they seem to have overlooked the towering elephant in the room, namely the current occupant of the White House (another clown) - who appears hell-bent on destabilising world trade via crude protectionist policies. Both Tories, despite receiving the best British education money can buy, would do well to revisit their post war history books and be reminded of one of the key objectives of the European Project and in due course the European Union - specifically to promote peace and prosperity amongst previously warring neighbours by forming a unified trading bloc which in time, due to its effective size, also acted as a useful counterweight to US hegemony. Go find another circus for your buffoonery and leave the deadly serious business of politics to principled individuals with the true national interest at heart !

Cixi’s lack of formal education was more than made up for by her intuitive intelligence, which she liked to use from her earliest years. In 1843, when she was seven, the empire had just finished its first war with the West, the Opium War, which had been started by Britain in reaction to Beijing clamping down on the illegal opium trade conducted by British merchants. China was defeated and had to pay a hefty indemnity. Desperate for funds, Emperor Daoguang (father of Cixi’s future husband) held back the traditional presents for his sons’ brides – gold necklaces with corals and pearls – and vetoed elaborate banquets for their weddings. New Year and birthday celebrations were scaled down, even cancelled, and minor royal concubines had to subsidise their reduced allowances by selling their embroidery on the market through eunuchs. The emperor himself even went on surprise raids of his concubines’ wardrobes, to check whether they were hiding extravagant clothes against his orders. As part of a determined drive to stamp out theft by officials, an investigation was conducted of the state coffer, which revealed that more “than nine million taels of silver had gone missing. Furious, the emperor ordered all the senior keepers and inspectors of the silver reserve for the previous forty-four years to pay fines to make up the loss – whether or not they were guilty. Cixi’s great-grandfather had served as one of the keepers and his share of the fine amounted to 43,200 taels – a colossal sum, next to which his official salary had been a pittance. As he had died a long time ago, his son, Cixi’s grandfather, was obliged to pay half the sum, even though he worked in the Ministry of Punishments and had nothing to do with the state coffer. After three years of futile struggle to raise money, he only managed to hand over 1,800 taels, and an edict signed by the emperor confined him to prison, only to be released if and when his son, Cixi’s father, delivered the balance. The life of the family was turned upside down. Cixi, then eleven years old, had to take in sewing jobs to earn extra money – which she would remember all her life and would later talk about to her ladies-in-waiting in the court. “As she was the eldest of two daughters and three sons, her father discussed the matter with her, and she rose to the occasion. Her ideas were carefully considered and practical: what possessions to sell, what valuables to pawn, whom to turn to for loans and how to approach them. Finally, the family raised 60 per cent of the sum, enough to get her grandfather out of prison. The young Cixi’s contribution to solving the crisis became a family legend, and her father paid her the ultimate compliment: ‘This daughter of mine is really more like a son!’ Treated like a son, Cixi was able to talk to her father about things that were normally closed areas for women. Inevitably their conversations touched on official business and state affairs, which helped form Cixi’s lifelong interest. Being consulted and having her views acted on, she acquired self-confidence and never accepted the com“common assumption that women’s brains were inferior to men’s. The crisis also helped shape her future method of rule. Having tasted the bitterness of arbitrary punishment, she would make an effort to be fair to her officials.

Charlie Munger, the Easter Bunny, Superman, and a successful forecaster of an investment bank find themselves in their own corner of a large square-shaped trading floor. In the center of the room is a large stack of $100 bills. If each of them starts racing toward the center of the floor at the same time, who gets the money? The answer is Munger, because the other three don’t exist!

I have what I call my Evel Knievel screen. These are companies that are trying to jump the Grand Canyon and probably won’t make it. There are only two conditions for the screen. First, the company is trading at more than five times book value. Second, the company is losing money. My job is to figure out which stocks won’t make it across the Grand Canyon and then go short those stocks.

Profit is so very fluctuating that the person who carries on a particular trade cannot always tell you himself what is the average of his annual profit. It is affected not only by every variation of price in the commodities which he deals in, but by the good or bad fortune both of his rivals and of his customers, and by a thousand other accidents to which goods when carried either by sea or by land, or even when stored in a warehouse, are liable. It varies, therefore, not only from year to year, but from day to day, and almost from hour to hour. To ascertain what is the average profit of all the different trades carried on in a great kingdom must be much more difficult; and to judge of what it may have been formerly, or in remote periods of time, with any degree of precision, must be altogether impossible. But though it may be impossible to determine, with any degree of precision, what are or were the average profits of stock, either in the present or in ancient times, some notion may be formed of them from the interest of money. It may be laid down as a maxim, that wherever a great deal can be made by the use of money, a great deal will commonly be given for the use of it; and that wherever little can be made by it, less will commonly be given for it. According, therefore, as the usual market rate of interest varies in any country, we may be assured that the ordinary profits of stock must vary with it, must sink as it sinks, and rise as it rises. The progress of interest, therefore, may lead us to form some notion of the progress of profit.

We became the most successful advanced projects company in the world by hiring talented people, paying them top dollar, and motivating them into believing that they could produce a Mach 3 airplane like the Blackbird a generation or two ahead of anybody else. Our design engineers had the keen experience to conceive the whole airplane in their mind’s-eye, doing the trade-offs in their heads between aerodynamic needs and weapons requirements. We created a practical and open work environment for engineers and shop workers, forcing the guys behind the drawing boards onto the shop floor to see how their ideas were being translated into actual parts and to make any necessary changes on the spot. We made every shop worker who designed or handled a part responsible for quality control. Any worker—not just a supervisor or a manager—could send back a part that didn’t meet his or her standards. That way we reduced rework and scrap waste. We encouraged our people to work imaginatively, to improvise and try unconventional approaches to problem solving, and then got out of their way. By applying the most commonsense methods to develop new technologies, we saved tremendous amounts of time and money, while operating in an atmosphere of trust and cooperation both with our government customers and between our white-collar and blue-collar employees. In the end, Lockheed’s Skunk Works demonstrated the awesome capabilities of American inventiveness when free to operate under near ideal working conditions. That may be our most enduring legacy as well as our source of lasting pride.

On the end of an era "I think records were just a little bubble through time and those who made a living from them for a while were lucky. There is no reason why anyone should have made so much money from selling records except that everything was right for this period of time. I always knew it would run out sooner or later. It couldn't last, and now it's running out. I don't particularly care that it is and like the way things are going. The record age was just a blip. It was a bit like if you had a source of whale blubber in the 1840s and it could be used as fuel. Before gas came along, if you traded in whale blubber, you were the richest man on Earth. Then gas came along and you'd be stuck with your whale blubber. Sorry mate – history's moving along. Recorded music equals whale blubber. Eventually, something else will replace it.

millionaire has told me that true diversity has much to do with controlling one’s investments; no one can control the stock market. But you can, for example, control your own business, private investments, and money you lend to private parties. Not at any time during the past thirty years have I found that the typical millionaire had more than 30 percent of his wealth invested in publicly traded stocks. More often it is in the low-to-mid-20-p

...Rusche and Kirchheimer relate the different systems of punishment with the systems of production within which they operate: thus, in a slave economy, punitive mechanisms serve to provide an additional labour force -- and to constitute a body of 'civil' slaves in addition to those provided by war or trading; with feudalism, at a time when money and production were still at an early stage of development, we find a sudden increase in corporal punishments -- the body being in most cases the only property accessible; the penitentiary (the Hopital General, the Spinhuis or the Rasphuis), forced labour and the prison factory appear with the development of the mercantile economy. But the industrial system requires a free market in labour and, in the nineteenth century, the role of forced labour in the mechanisms of punishment diminishes accordingly and 'corrective' detention takes its place.

A trader needs to be highly skilled and extremely lucky to beat the market consistently. If a trader is highly skilled but not lucky enough or extremely lucky but modestly skilled, he will beat the market occasionally but not consistently. Traders that are modestly skilled and modestly lucky will briefly beat the market but will be behind the market most of the time. Everybody else will lose money on a long-term basis, that is, 90% of the traders.

I do not know how much money Britney Spears earned last year.. However, I do know that it's not enough for me to want her life, were I given the option to have it. Every day, random people use Britney's existence as currency; they talk about her public failures and her lack of talent as a way to fill the emptiness of their own normalcy. She — alone with Lindsay Lohan and Paris Hilton and all those androids from The Hills — are the unifying entities within this meta era. In a splintered society, they are the means through which people devoid of creativity communicate with each other. THey allow Americans to understand who they are and who they are not; they allow Americans to unilaterally agree on something they never needed to consciously consider. A person like Britney Spears surrenders her privacy and her integrity and the rights to her own persona, and in exchange we give her huge sums of money. But she still doesn't earn a fraction of what she warrants in free-trade economy. If Britney Spears were paid $1 every time a self-loathing stranger used her as a surrogate for his own failure, she would out earn Warren Buffet in three months. This is why entertainers (and athletes) make so much revenue but are still wildly underpaid: We use them for things that are worth more than money. It's a new kind of dehumanizing slavery — not as awful as the literal variety, but dehumanizing nonetheless.

How is forex traded? The main idea of forex is that you’re buying one currency and at the same time, selling another. Currencies are normally quoted in pairs, like EUR/USD or USD/SGD. The exchange rate represents the purchase price between the two currencies. In EUR/USD ratio, This represents the number of US Dollars in every Euro you have. If you think the Euro will increase in value against the US Dollar from the last exchange rate, you buy Euros with US Dollars and you cash in profit from that.

Torrens kicked at the door until it was finally opened. The farm couple and three youngsters had been eating breakfast in the common room. The yard dog would have bounded in had not Torrens kicked the door shut. 'I want a bed. Quilts. A hot drink. I am a doctor. This woman is my patient.' The farm couple was terrified. The look on the face of Torrens cut short any questions. They did as he ordered. One of the children ran to fetch his medical kit from the cart. The woman motioned for Torrens to set Caroline on a straw pallet. The farmer kept his distance, but his wife, shyly, fearffully, ventured closer. She glanced at Torrens, as if requesting his permission to help. Between them, they made Caroline as comfortable as they could. Torrens knelt by the pallet. Caroline reached for his hand. 'Leave while you can. Do not burden yourself with me.' 'A light burden.' 'I wish you to find Augusta.' 'You have my promise.' 'Take this.' Caroline had slipped off a gold ring set with diamonds. 'It was a wedding gift from the king. It has not left my finger since then. I give it to you now - ' Torrens protested, but Caroline went on - 'not as a keepsake. You and I have better keepsakes in our hearts. I wish you to sell it. You will need money, perhaps even more than this will bring. But you must stary alive and find my child. Help her as you have always helped me.' 'We shall talk of this later, when you are better. We shall find her together.' 'You have never lied to me.' Caroline's smile was suddenly flirtacious. 'Sir, if you begin now, I shall take you to task for it.' Her face seemed to grow youthful and earnest for an instant. Torrens realized she held life only by strength of will. 'I am thinking of the Juliana gardens,' Caroline said. 'How lovely they were. The orangerie. And you, my loving friend. Tell me, could we have been happy?' 'Yes.' Torrens raised her hand to his lips. 'Yes. I am certain of it.' Caroline did not speak again. Torrens stayed at her side. She died later that morning. Torrens buried her in the shelter of a hedgerow at the far edge of the field. The farmer offered to help, but Torrens refused and dug the grave himself. Later, in the farmhouse, he slept heavily for the first time since his escape. Mercifully, he did not dream. Next day, he gave the farmer his clothing in trade for peasant garb. He hitched up the cart and drove back to the road. He could have pressed on, lost himself beyond search in the provinces. He was free. Except for his promise. He turned the cart toward Marianstat.

The enemy of my soul didn't want me painting that day. To create meant that I would look a little bit like my Creator. To overcome the terrifying angst of the blank canvas meant I would forever have more compassion for other artists. You better believe as I placed the first blue and gray strokes onto the white emptiness before me, the "not good enough" statement was pulsing through my head in almost deafening tones... This parlaying lie is one of his favorite tactics to keep you disillusioned by disappointments. Walls go up, emotions run high, we get guarded, defensive, demotivated, and paralyzed by the endless ways we feel doomed to fail. This is when we quit. This is when we settle for the ease of facebook.... This is when we get a job to simply make money instead of pursuing our calling to make a difference. This is when we put the paintbrush down and don't even try. So there I was. Standing before my painted blue boat, making a choice of which voice to listen to. I'm convinced God was smiling. Pleased. Asking me to find delight in what is right. Wanting me to have compassion for myself by focusing on that part of my painting that expressed something beautiful. To just be eager to give that beauty to whoever dared to look at my boat. To create to love others. Not to beg them for validation. But the enemy was perverting all that. Perfection mocked my boat. The bow was too high, the details too elementary, the reflection on the water too abrupt, and the back of the boat too off-center. Disappointment demanded I hyper-focused on what didn't look quite right. It was my choice which narrative to hold on to: "Not good enough" or "Find delight in what is right." Each perspective swirled, begging me to declare it as truth. I was struggling to make peace with my painting creation, because I was struggling to make make peace with myself as God's creation. Anytime we feel not good enough we deny the powerful truth that we are a glorious work of God in progress. We are imperfect because we are unfinished. So, as unfinished creations, of course everything we attempt will have imperfections. Everything we accomplish will have imperfections. And that's when it hit me: I expect a perfection in me and in others that not even God Himself expects. If God is patient with the process, why can't I be? How many times have I let imperfections cause me to be too hard on myself and too harsh with others? I force myself to send a picture of my boat to at least 20 friends. I was determined to not not be held back by the enemy's accusations that my artwork wasn't good enough to be considered "real art". This wasn't for validation but rather confirmation that I could see the imperfections in my painting but not deem it worthless. I could see the imperfections in me and not deem myself worthless. It was an act of self-compassion. I now knew to stand before each painting with nothing but love, amazement, and delight. I refused to demand anything more from the artist. I just wanted to show up for every single piece she was so brave to put on display.. Might I just be courageous enough to stand before her work and require myself to find everything about it I love? Release my clenched fist and pouty disappointments, and trade my "live up" mentality for a "show up" one? It is so much more freeing to simply show up and be a finder of the good. Break from the secret disappointments. Let my brain venture down the tiny little opening of love.. And I realized what makes paintings so delightful. It's there imperfections. That's what makes it art. It's been touched by a human. It's been created by someone whose hands sweat and who can't possibly transfer divine perfection from what her eyes see to what her fingertips can create. It will be flawed.

New York city wasn't yet the post-Giuliani, Bloomberg forever, Disneyland tourist attraction of today, trade-marked and policed to protect the visitors and tourism industry. It was still a place of diversity, where people lived their lives in vibrant communities and intact cultures. Young people could still move to New York City after or instead of high school or college and invent an identity, an art, a life. Times Square was still a bustling center of excitement, with sex work, "adult" movies, a variety of sins on sale, ways to make money for those down on their luck".

I have been in the speculative game ever since I was fourteen. It is all I have ever done. I think I know what I am talking about. And the conclusion that I have reached after nearly thirty years of constant trading, both on a shoestring and with millions of dollars back of me, is this: A man may beat a stock or a group at a certain time, but no man living can beat the stock market! A man may make money out of individual deals in cotton or grain, but no man can beat the cotton market or the grain market. It's like the track. A man may beat a horse race, but he cannot beat horse racing.

Growing up where she did, Beatrix had developed a romantic and adventurous nature, and she had no outlet for it any more. The happiest times I can remember spending with them were when we drove out - twice, I think - to the Long Mynd for a picnic. Roger had long since traded in his motorbike and scraped together enough money to buy a second-hand Morris Minor. Somehow we all squeezed into this (I seem to recall sitting in the front passenger seat, Beatrix sitting behind me with the baby on her lap) and drove out for the afternoon to those wonderful Shropshire hills. I wonder if you have ever walked on them yourself, Imogen. They are part of your story, you know. So many things have changed, changed beyond recognition, in the almost sixty years since the time I'm now recalling, but the Long Mynd is not one of them. In the last few months I have been too ill to walk there, but I did manage to visit in the last spring, to offer what I already sensed would be my final farewells. Places like this are important to me - to all of us - because they exist outside the normal timespan. You can stand on the backbone of the Long Mynd and not know if you are in the 1940s, the 2000s, the tenth or eleventh century... It is all immaterial, all irrelevant. The gorse and the purple heather are unchanging, and so are the sheeptracks which cut through them and criss-cross them, the twisted rocky outcrops which surprise you at every turn, the warm browns of the bracken, the distant greys of the conifer plantations, tucked far away down in secretive valleys. You cannot put a price on the sense of freedom and timelessness that is granted to you there, as you stand on the high ridge beneath a flawless sky of April blue and look across at the tame beauties of the English countryside, to the east, and to the west a hint of something stranger - the beginnings of the Welsh mountains

At one point, we had become concerned with how much screen time had crept into our family. Between television, computers, tablets, and smart phones it had become just too easy for the children to waste time on nonessential entertainment. But our attempts to get them to change these habits, as you can imagine, were met with friction. The children would complain whenever we turned the TV off or tried to limit their “screen time.” And we as the parents had to consciously police the situation, which took us away from doing things that were essential. So we introduced a token system.9 The children were given ten tokens at the beginning of the week. These could each be traded in for either thirty minutes of screen time or fifty cents at the end of the week, adding up to $5 or five hours of screen time a week. If a child read a book for thirty minutes, he or she would earn an additional token, which could also be traded in for screen time or for money. The results were incredible: overnight, screen time went down 90 percent, reading went up by the same amount, and the overall effort we had to put into policing the system went way, way down. In other words, nonessential activity dramatically decreased and essential activity dramatically increased.

This is what makes the unexamined life so dangerous. We think we are living life to the fullest but we aren’t. Instead, we are often trading long-term purpose for short-term pleasure. When we eat unhealthily, we miss an opportunity to fuel our bodies properly. When we watch too much TV or spend too much time online, we miss opportunities to interact with people in the real world. When we neglect to exercise, we miss the opportunity to enjoy the kinds of adventures available to those with physical stamina. When we stay up late and sleep through the morning, we may be missing out on the most productive period of our day. When we buy more than we need, we miss the opportunity to live free and unburdened. When we spend more than we earn, we shackle ourselves with bondage to debt. When we spend too much money on ourselves, we miss the opportunity to find greater joy by being generous to others. The way to avoid these kinds of mistakes is to live intentionally. That is, we examine our options and make choices with larger purposes and longer-term goals in mind. If an activity, a decision, or a habit is not bringing us closer to our purpose and passion, then we should remove it. Because most of the time it is only distracting us from what really matters.

Bipasha: I thought you were a soldier, not a businessman. Lag: I’m in business to resolve disputes, and there are no good military options without profits. The non-military options without profits are even worse. No profits mean few good options for anyone. Harbin: As I’ve tried to tell you many times, we fight when it’s the low-cost solution for us, and we make others not fight by making it their high-cost solution. Bipasha: That’s a weird way of looking at it. Helton: Everyone trades in lives. Soldiers are just more obvious about it. Wages trade money for a part of a person’s lifetime. The price tag is just a measure of the portion.

Whisper in the yard and turn the trees all into toys Lay there on the ground, and turn the dirt into your joy From what I see and what I know, it's all been boring lately So I suggest we trade a question mark in for a maybe Time your riddles right, and make a point that has no sense Make sure that you're smiling, and the money's been well spent Innocence and ignorance, it all goes hand in hand I'm not sure that I'm right, but I hope you'll understand I hope that you're still searching for the start that has no end And all the plastic people have now become your friends Before you start to drift and your soul begins to scream I just wanted to tell you that you're listening to a dream

In the elaborate con that is American electoral politics, the Republican voter has long been the easiest mark in the game, the biggest dope in the room. Everyone inside the Beltway knows this. The Republican voters themselves are the only ones who never saw it. Elections are about a lot of things, but at the highest level, they’re about money. The people who sponsor election campaigns, who pay the hundreds of millions of dollars to fund the candidates’ charter jets and TV ads and 25-piece marching bands, those people have concrete needs. They want tax breaks, federal contracts, regulatory relief, cheap financing, free security for shipping lanes, antitrust waivers and dozens of other things. They mostly don’t care about abortion or gay marriage or school vouchers or any of the social issues the rest of us spend our time arguing about. It’s about money for them, and as far as that goes, the CEO class has had a brilliantly winning electoral strategy for a generation. They donate heavily to both parties, essentially hiring two different sets of politicians to market their needs to the population. The Republicans give them everything that they want, while the Democrats only give them mostly everything. They get everything from the Republicans because you don’t have to make a single concession to a Republican voter. All you have to do to secure a Republican vote is show lots of pictures of gay people kissing or black kids with their pants pulled down or Mexican babies at an emergency room. Then you push forward some dingbat like Michele Bachmann or Sarah Palin to reassure everyone that the Republican Party knows who the real Americans are. Call it the “Rove 1-2.” That’s literally all it’s taken to secure decades of Republican votes, a few patriotic words and a little over-the-pants rubbing. Policywise, a typical Republican voter never even asks a politician to go to second base. While we always got free trade agreements and wars and bailouts and mass deregulation of industry and lots of other stuff the donors definitely wanted, we didn’t get Roe v. Wade overturned or prayer in schools or balanced budgets or censorship of movies and video games or any of a dozen other things Republican voters said they wanted.

At all times it is a bewildering thing to the poor weaver to see his employer removing from house to house, each one grander than the last, till he ends in building one more magnificent than all, or withdraws his money from the concern, or sells his mill, to buy an estate in the country, while all the time the weaver, who thinks he and his fellows are the real makers of this wealth, is struggling on for bread for his children, through the vicissitudes of lowered wages, short hours, fewer hands employed, etc. And when he knows trade is bad, and could understand (at least partially) that there are not buyers enough in the market to purchase the goods already made, and consequently that there is no demand for more; when he would bear and endure much without complaining, could he also see that his employers were bearing their share; he is, I say, bewildered and (to use his own word) "aggravated" to see that all goes on just as usual with the millowners. Large houses are still occupied, while spinners' and weavers' cottages stand empty, because the families that once filled them are obliged to live in rooms or cellars. Carriages still roll along the streets, concerts are still crowded by subscribers, the shops for expensive luxuries still find daily customers, while the workman loiters away his unemployed time in watching these things, and thinking of the pale, uncomplaining wife at home, and the wailing children asking in vain for enough of food--of the sinking health, of the dying life of those near and dear to him. The contrast is too great. Why should he alone suffer from bad times?

A good list of questions to ask your advisor will include the following: Where will my money be held? Right answer: Somewhere else! Are you a broker? Right answer: No! Are you a dually registered advisor? Right answer: No! Do you or any affiliate have proprietary investments of any kind? Right answer: No! How are you compensated? Right answer: Total disclosure in writing and never make commissions on any investment product. What are the credentials of you and/or your team? Right answer: If planning is involved, a CFP is ideal to have on the team. What is your planning and investment management approach? Right answer: The firm should follow a coherent philosophy rather than a bunch of different strategies (unprincipled) and should follow an approach that does not involve market timing or active trading.

The critical point is that thousands of people are swept into the criminal justice system every year pursuant to the drug war without much regard for their guilt or innocence. The police are allowed by the courts to conduct fishing expeditions for drugs on streets and freeways based on nothing more than a hunch. Homes may be searched for drugs based on a tip from an unreliable, confidential informant who is trading the information for money or to escape prison time. And once swept inside the system, people are often denied attorneys or meaningful representation and pressured into plea bargains by the threat of unbelievably harsh sentences—sentences for minor drug crimes that are higher than many countries impose on convicted murderers. This is the way the roundup works, and it works this way in virtually every major city in the United States.

I strongly believe in the fact that there’s still plenty of money and plenty of private equity capital available around the globe. What are in short supply are great entrepreneurs and great teams. A trading opportunity or a company’s biggest challenge is and has always been the team behind it. There’s enormous change under way in every facet of the world. Some is technology driven, some is market driven. All that change creates unprecedented opportunity, but to take full advantage of such opportunities I mostly focus on the team. The right teams and right people behind those opportunities always win. There is no secret sauce. Trading and investing has, in my experience, boiled down to building relationships and exchanging value. It consists of striking the right balance between backing and interacting with the right teams with the right business model at the right time and with the right amount of money.

Maybe your priority actually is money. Or maybe it’s family. Maybe it’s influence or change. Maybe it’s building an organization that lasts, or serves a purpose. All of these are perfectly fine motivations. But you do need to know. You need to know what you don’t want and what your choices preclude. Because strategies are often mutually exclusive. One cannot be an opera singer and a teen pop idol at the same time. Life requires those trade-offs, but ego can’t allow it. So why do you do what you do? That’s the question you need to answer. Stare at it until you can. Only then will you understand what matters and what doesn’t. Only then can you say no, can you opt out of stupid races that don’t matter, or even exist. Only then is it easy to ignore “successful” people, because most of the time they aren’t—at least relative to you, and often even to themselves. Only then can you develop that quiet confidence Seneca talked about.

The denarius was the silver coin that traded at the time of the Roman Republic, containing 3.9 grams of silver, while gold became the most valuable money in the civilized areas of the world at the time and gold coins were becoming more widespread. Julius Caesar, the last dictator of the Roman Republic, created the aureus coin, which contained around 8 grams of gold and was widely accepted across Europe and the Mediterranean, increasing the scope of trade and specialization in the Old World. Economic stability reigned for seventy-five years, even through the political upheaval of his assassination, which saw the Republic transformed into an Empire under his chosen successor, Augustus. This continued until the reign of the infamous emperor Nero, who was the first to engage in the Roman habit of “coin clipping,” wherein the Emperor would collect the coins of the population and mint them into newer coins with less gold or silver content.

Naomi Wolf wrote, in The Beauty Myth, about the peculiar fact that beauty requirements have escalated as women’s subjugation has decreased. It’s as if our culture has mustered an immune-system response to continue breaking the fever of gender equality—as if some deep patriarchal logic has made it that women need to achieve ever-higher levels of beauty to make up for the fact that we are no longer economically and legally dependent on men. One waste of time had been traded for another, Wolf wrote. Where women in mid-century America had been occupied with “inexhaustible but ephemeral” domestic work, beating back disorder with fastidious housekeeping and consumer purchases, they were now occupied by inexhaustible but ephemeral beauty work, spending huge amounts of time, anxiety, and money to adhere to a standard over which they had no control. Beauty constituted a sort of “third shift,” Wolf wrote—an extra obligation in every possible setting.

It was in the city-states that humans could live with the freedom to work, produce, trade, and flourish, and that was to a large extent the result of these city-states adopting a sound monetary standard. It all began in Florence in 1252, when the city minted the florin, the first major European sound coinage since Julius Caesar's aureus. Florence's rise made it the commercial center of Europe, with its florin becoming the prime European medium of exchange, allowing its banks to flourish across the entire continent. Venice was the first to follow Florence's example with its minting of the ducat, of the same specifications as the florin, in 1270, and by the end of the fourteenth century more than 150 European cities and states had minted coins of the same specifications as the florin, allowing their citizens the dignity and freedom to accumulate wealth and trade with a sound money that was highly salable across time and space, and divided into small coins, allowing for easy divisibility.

the importance of sound money can be explained for three broad reasons: first, it protects value across time, which gives people a bigger incentive to think of their future, and lowers their time preference. The lowering of the time preference is what initiates the process of human civilization and allows for humans to cooperate, prosper, and live in peace. Second, sound money allows for trade to be based on a stable unit of measurement, facilitating ever-larger markets, free from government control and coercion, and with free trade comes peace and prosperity. Further, a unit of account is essential for all forms of economic calculation and planning, and unsound money makes economic calculation unreliable and is the root cause of economic recessions and crises. Finally, sound money is an essential requirement for individual freedom from despotism and repression, as the ability of a coercive state to create money can give it undue power over its subjects, power which by its very nature will attract the least worthy, and most immoral, to take its reins.

Slowly but surely, Europeans were able to purchase a lot of the precious resources of Africa for the beads they acquired back home for very little.2 European incursion into Africa slowly turned beads from hard money to easy money, destroying their salability and causing the erosion of the purchasing power of these beads over time in the hands of the Africans who owned them, impoverishing them by transferring their wealth to the Europeans, who could acquire the beads easily. The aggry beads later came to be known as slave beads for the role they played in fueling the slave trade of Africans to Europeans and North Americans. A one-time collapse in the value of a monetary medium is tragic, but at least it is over quickly and its holders can begin trading, saving, and calculating with a new one. But a slow drain of its monetary value over time will slowly transfer the wealth of its holders to those who can produce the medium at a low cost. This is a lesson worth remembering when we turn to the discussion of the soundness of government money in the later parts of the book.

Under the influence of ignorance and custom, the day's pay of a country labourer will remain for a long time at a franc, while the saleable price of all the articles of consumption around him will be rising. He will sink into destitution without being able to discover the cause. In short, since you wish me to finish, I must beg you, before we separate, to fix your whole attention upon this essential point:--When once false money (under whatever form it may take) is put into circulation, depreciation will ensue, and manifest itself by the universal rise of every thing which is capable of being sold. But this rise in prices is not instantaneous and equal for all things. Sharp men, brokers, and men of business, will not suffer by it; for it is their trade to watch the fluctuations of prices, to observe the cause, and even to speculate upon it. But little tradesmen, countrymen, and workmen, will bear the whole weight of it. The rich man is not any the richer for it, but the poor man becomes poorer by it. Therefore, expedients of this kind have the effect of increasing the distance which separates wealth from poverty,

The public offering occurred exactly one week after Toy Story’s opening. Jobs had gambled that the movie would be successful, and the risky bet paid off, big-time. As with the Apple IPO, a celebration was planned at the San Francisco office of the lead underwriter at 7 a.m., when the shares were to go on sale. The plan had originally been for the first shares to be offered at about $14, to be sure they would sell. Jobs insisted on pricing them at $22, which would give the company more money if the offering was a success. It was, beyond even his wildest hopes. It exceeded Netscape as the biggest IPO of the year. In the first half hour, the stock shot up to $45, and trading had to be delayed because there were too many buy orders. It then went up even further, to $49, before settling back to close the day at $39. Earlier that year Jobs had been hoping to find a buyer for Pixar that would let him merely recoup the $50 million he had put in. By the end of the day the shares he had retained—80% of the company—were worth more than twenty times that, an astonishing $1.2 billion. That was about five times what he’d made when Apple went public in 1980.

And there, until 1884, it was possible to gaze on the remains of a generally neglected monument, so-called Dagobert’s Tower, which included a ninth-century staircase set into the masonry, of which the thirty-foot handrail was fashioned out of the trunk of a gigantic oak tree. Here, according to tradition, lived a barber and a pastry-cook, who in the year 1335 plied their trade next door to each other. The reputation of the pastry-cook, whose products were among the most delicious that could be found, grew day by day. Members of the high-ranking clergy in particular were very fond of the extraordinary meat pies that, on the grounds of keeping to himself the secret of how the meats were seasoned, our man made all on his own, with the sole assistance of an apprentice who was responsible for the pastry. His neighbor the barber had won favor with the public through his honesty, his skilled hairdressing and shaving, and the steam baths he offered. Now, thanks to a dog that insistently scratched at the ground in a certain place, the ghastly origins of the meat used by the pastry-cook became known, for the animal unearthed some human bones! It was established that every Saturday before shutting up shop the barber would offer to shave a foreign student for free. He would put the unsuspecting young man in a tip-back seat and then cut his throat. The victim was immediately rushed down to the cellar, where the pastry-cook took delivery of him, cut him up, and added the requisite seasoning. For which the pies were famed, ‘especially as human flesh is more delicate because of the diet,’ old Dubreuil comments facetiously. The two wretched fellows were burned with their pies, the house was ordered to be demolished, and in its place was built a kind of expiatory pyramid, with the figure of the dog on one of its faces. The pyramid was there until 1861. But this is where the story takes another turn and joins the very best of black comedy. For the considerable number of ecclesiastics who had unwittingly consumed human flesh were not only guilty before God of the very venial sin of greed; they were automatically excommunicated! A grand council was held under the aegis of several bishops and it was decided to send to Avignon, where Pope Clement VI resided, a delegation of prelates with a view to securing the rescindment if not of the Christian interdiction against cannibalism then at least of the torments of hell that faced the inadvertent cannibals. The delegation set off, with a tidy sum of money, bare-footed, bearing candles and singing psalms. But the roads of that time were not very safe and doubtless strewn with temptation. Anyway, the fact is that Clement VI never saw any sign of the penitents, and with good reason.

Statisticians say that stocks with healthy dividends slightly outperform the market averages, especially on a risk-adjusted basis. On average, high-yielding stocks have lower price/earnings ratios and skew toward relatively stable industries. Stripping out these factors, generous dividends alone don’t seem to help performance. So, if you need or like income, I’d say go for it. Invest in a company that pays high dividends. Just be sure that you are favoring stocks with low P/Es in stable industries. For good measure, look for earnings in excess of dividends, ample free cash flow, and stable proportions of debt and equity. Also look for companies in which the number of shares outstanding isn’t rising rapidly. To put a finer point on income stocks to skip, reverse those criteria. I wouldn’t buy a stock for its dividend if the payout wasn’t well covered by earnings and free cash flow. Real estate investment trusts, master limited partnerships, and royalty trusts often trade on their yield rather than their asset value. In some of those cases, analysts disagree about the economic meaning of depreciation and depletion—in particular, whether those items are akin to earnings or not. Without looking at the specific situation, I couldn’t judge whether the per share asset base was shrinking over time or whether generally accepted accounting principles accounting was too conservative. If I see a high-yielder with swiftly rising share counts and debt levels, I assume the worst.

But, suppose we should rise up tomorrow and emancipate, who would educate these millions, and teach them how to use their freedom? They never would rise to do much among us. The fact is, we are too lazy and unpractical, ourselves, ever to give them much of an idea of that industry and energy which is necessary to form them into men. They will have to go north, where labor is the fashion,—the universal custom; and tell me, now, is there enough Christian philanthropy, among your northern states, to bear with the process of their education and elevation? You send thousands of dollars to foreign missions; but could you endure to have the heathen sent into your towns and villages, and give your time, and thoughts, and money, to raise them to the Christian standard? That’s what I want to know. If we emancipate, are you willing to educate? How many families, in your town, would take a negro man and woman, teach them, bear with them, and seek to make them Christians? How many merchants would take Adolph, if I wanted to make him a clerk; or mechanics, if I wanted him taught a trade? If I wanted to put Jane and Rosa to a school, how many schools are there in the northern states that would take them in? how many families that would board them? and yet they are as white as many a woman, north or south. You see, Cousin, I want justice done us. We are in a bad position. We are the more obvious oppressors of the negro; but the unchristian prejudice of the north is an oppressor almost equally severe.

Man is born into a world of production and social relations. The unequal opportunities of different lands, the more or less rapid improvements in the means of production, and the struggle for life have rapidly created social inequalities that have been crystallized into antagonisms between production and distribution; and consequently into class struggles. These struggles and antagonisms are the motive power of history. Slavery in ancient times and feudal bondage were stages on a long road that led to the artisanship of the classical centuries when the producer was master of the means of production. At this moment the opening of world trade routes and the discovery of new outlets demanded a less provincial form of production. The contradiction between the method of production and the new demands of distribution already announces the end of the regime of small-scale agricultural and industrial production. The industrial revolution, the invention of steam appliances, and competition for outlets inevitably led to the expropriation of the small proprietor and to the introduction of large-scale production. The means of production are then concentrated in the hands of those who are able to buy them; the real producers, the workers, now only dispose of the strength of their arms, which can be sold to the "man with the money." Thus bourgeois capitalism is defined by the separation of the producer from the means of production. From this conflict a series of inevitable consequences are going to spring which allow Marx to predicate the end of social antagonisms.

A confidential report delivered in June 1965 by Abel Aganbegyan, director of the Novobirsk Institute of Economics, highlighted the difficulties. Aganbegyan noted that the growth rate of the Soviet economy was beginning to decline, just as the rival US economy seemed particularly buoyant; at the same time, some sectors of the Soviet economy - housing, agriculture, services, retail trade - remained very backward, and were failing to develop at an adequate rate. The root causes of this poor performance he saw in the enormous commitment of resources to defense (in human terms, 30-40 million people out of a working population of 100 million, he reckoned), and the 'extreme centralism and lack of democracy in economic matters' which had survived from the past. In a complex modern society, he argued, not everything could be planned, since it was impossible to foresee all possible contingencies and their potential effects. So the plan amounted to central command, and even that could not be properly implemented for lack of information and of modern data-processing equipment. 'The Central Statistical Administration ... does not have a single computer, and is not planning to acquire any,' he commented acidly. Economic administration was also impeded by excessive secrecy: 'We obtain many figures... from American journals sooner than they are released by the Central Statistical Administration.' Hence the economy suffered from inbuilt distortions: the hoarding of goods and labour to provide for unforeseen contingencies, the production of shoddy goods to fulfill planning targets expressed in crude quantitative terms, the accumulation of unused money by a public reluctant to buy substandard products, with resultant inflation and a flourishing black market.

Consider a world in which cause and effect are erratic. Sometimes the first precedes the second, sometimes the second the first. Or perhaps cause lies forever in the past while effect in the future, but future and past are entwined. On the terrace of the Bundesterrasse is a striking view: the river Aare below and the Bernese Alps above. A man stands there just now, absently emptying his pockets and weeping. Without reason, his friends have abandoned him. No one calls any more, no one meets him for supper or beer at the tavern, no one invites him to their home. For twenty years he has been the ideal friend to his friends, generous, interested, soft-spoken, affectionate. What could have happened? A week from this moment on the terrace, the same man begins acting the goat, insulting everyone, wearing smelly clothes, stingy with money, allowing no one to come to his apartment on Laupenstrasse. Which was cause and which effect, which future and which past? In Zürich, strict laws have recently been approved by the Council. Pistols may not be sold to the public. Banks and trading houses must be audited. All visitors, whether entering Zürich by boat on the river Limmat or by rail on the Selnau line, must be searched for contraband. The civil military is doubled. One month after the crackdown, Zürich is ripped by the worst crimes in its history. In daylight, people are murdered in the Weinplatz, paintings are stolen from the Kunsthaus, liquor is drunk in the pews of the Münsterhof. Are these criminal acts not misplaced in time? Or perhaps the new laws were action rather than reaction? A young woman sits near a fountain in the Botanischer Garten. She comes here every Sunday to smell the white double violets, the musk rose, the matted pink gillyflowers. Suddenly, her heart soars, she blushes, she paces anxiously, she becomes happy for no reason. Days later, she meets a young man and is smitten with love. Are the two events not connected? But by what bizarre connection, by what twist in time, by what reversed logic? In this acausal world, scientists are helpless. Their predictions become postdictions. Their equations become justifications, their logic, illogic. Scientists turn reckless and mutter like gamblers who cannot stop betting. Scientists are buffoons, not because they are rational but because the cosmos is irrational. Or perhaps it is not because the cosmos is irrational but because they are rational. Who can say which, in an acausal world? In this world, artists are joyous. Unpredictability is the life of their paintings, their music, their novels. They delight in events not forecasted, happenings without explanation, retrospective. Most people have learned how to live in the moment. The argument goes that if the past has uncertain effect on the present, there is no need to dwell on the past. And if the present has little effect on the future, present actions need not be weighed for their consequence. Rather, each act is an island in time, to be judged on its own. Families comfort a dying uncle not because of a likely inheritance, but because he is loved at that moment. Employees are hired not because of their résumés, but because of their good sense in interviews. Clerks trampled by their bosses fight back at each insult, with no fear for their future. It is a world of impulse. It is a world of sincerity. It is a world in which every word spoken speaks just to that moment, every glance given has only one meaning, each touch has no past or no future, each kiss is a kiss of immediacy.

Americans were deluded, Arendt insisted, if they thought their political institutions were meant to establish a democracy. That was never the intent of the Founding Fathers, who had read the ancient Greeks attentively and worried as much about tyrannical majorities as did German-Jewish refugees fleeing Hitler’s popular and populist regime. They were kindred spirits. “What men” they were, Arendt exclaimed in breathless admiration of the Founders, and how little understood in modern times, with its ethos of democratic egalitarianism. The recent arrival felt obliged to lecture her native-born countrymen by reminding them about their true history. “It’s a great mistake if you believe that what we have here is democracy, a mistake in which many Americans share. What we have here is republican rule, and the Founding Fathers were most concerned about preserving the rights of minorities.” Such words had an oddly familiar ring at the time, though emanating from a political corner far removed from Arendt and her friends. “A republic, not a democracy” was the rallying cry of the extreme, often loony, reactionaries gathered around the John Birch Society during the 1950s and after. But though Arendt, with her stress on individual freedom, shared language and even long-term worries with the far right, she could never be mistaken for one of them—not with her contempt for bourgeois, money-obsessed self-interest, her support for trade unions, her identification with the weak and vulnerable, her anti-anti-Communism, her determined pluralism, and her praise of immigration as the means by which the United States continually revitalized itself. The “magnificence” of the country, she said, “consists in the fact that from the beginning this new order did not shut itself off from the outside world.” (She also said that the attempt to equate freedom with free enterprise was a “monstrous falsehood.”) In

And spend they did. Money circulated faster and spread wider through its communities of use than at any other time in economic history.8 Workers labored fewer days and at higher wages than before or since; people ate four meals a day; women were taller in Europe than at any time until the 1970s; and the highest percentage on record of business profits went to preventative maintenance on equipment. It was a period of tremendous growth and wealth. Meanwhile, with no way of storing or growing value with this form of money over the long term, people made massive investments in architecture, particularly cathedrals, which they knew would attract pilgrims and tourists for years to come. This was their way of investing in the future, and the pre-Renaissance era of affluence became known as the Age of Cathedrals. The beauty of a flow-based economy is that it favors those who actively create value. The problem is that it disfavors those who are used to reaping passive rewards. Aristocratic landowning families had stayed rich for centuries simply by being rich in the first place. Peasants all worked the land in return for enough of their own harvest on which to subsist. Feudal lords did not participate in the peer-to-peer economy facilitated by local currencies, and by 1100 or so, most or the aristocracy’s wealth and power was receding. They were threatened by the rise of the merchant middle class and the growing bourgeois population, and had little way of participating in all the sideways trade. The wealthy needed a way to make money simply by having money. So, one by one, each of the early monarchies of Europe outlawed the kingdom’s local currencies and replaced them with a single central currency. Instead of growing their money in the fields, people would have to borrow money from the king’s treasury—at interest. If they wanted a medium through which to transact at the local marketplace, it meant becoming indebted to the aristocracy.

Professor Joseph Stiglitz, former Chief Economist of the World Bank, and former Chairman of President Clinton's Council of Economic Advisers, goes public over the World Bank’s, “Four Step Strategy,” which is designed to enslave nations to the bankers. I summarise this below, 1. Privatisation. This is actually where national leaders are offered 10% commissions to their secret Swiss bank accounts in exchange for them trimming a few billion dollars off the sale price of national assets. Bribery and corruption, pure and simple. 2. Capital Market Liberalization. This is the repealing any laws that taxes money going over its borders. Stiglitz calls this the, “hot money,” cycle. Initially cash comes in from abroad to speculate in real estate and currency, then when the economy in that country starts to look promising, this outside wealth is pulled straight out again, causing the economy to collapse. The nation then requires International Monetary Fund (IMF) help and the IMF provides it under the pretext that they raise interest rates anywhere from 30% to 80%. This happened in Indonesia and Brazil, also in other Asian and Latin American nations. These higher interest rates consequently impoverish a country, demolishing property values, savaging industrial production and draining national treasuries. 3. Market Based Pricing. This is where the prices of food, water and domestic gas are raised which predictably leads to social unrest in the respective nation, now more commonly referred to as, “IMF Riots.” These riots cause the flight of capital and government bankruptcies. This benefits the foreign corporations as the nations remaining assets can be purchased at rock bottom prices. 4. Free Trade. This is where international corporations burst into Asia, Latin America and Africa, whilst at the same time Europe and America barricade their own markets against third world agriculture. They also impose extortionate tariffs which these countries have to pay for branded pharmaceuticals, causing soaring rates in death and disease.

Once trade connects two areas, the forces of supply and demand tend to equalise the prices of transportable goods. In order to understand why, consider a hypothetical case. Assume that when regular trade opened between India and the Mediterranean, Indians were uninterested in gold, so it was almost worthless. But in the Mediterranean, gold was a coveted status symbol, hence its value was high. What would happen next? Merchants travelling between India and the Mediterranean would notice the difference in the value of gold. In order to make a profit, they would buy gold cheaply in India and sell it dearly in the Mediterranean. Consequently, the demand for gold in India would skyrocket, as would its value. At the same time the Mediterranean would experience an influx of gold, whose value would consequently drop. Within a short time the value of gold in India and the Mediterranean would be quite similar. The mere fact that Mediterranean people believed in gold would cause Indians to start believing in it as well. Even if Indians still had no real use for gold, the fact that Mediterranean people wanted it would be enough to make the Indians value it. Similarly, the fact that another person believes in cowry shells, or dollars, or electronic data, is enough to strengthen our own belief in them, even if that person is otherwise hated, despised or ridiculed by us. Christians and Muslims who could not agree on religious beliefs could nevertheless agree on a monetary belief, because whereas religion asks us to believe in something, money asks us to believe that other people believe in something. For thousands of years, philosophers, thinkers and prophets have besmirched money and called it the root of all evil. Be that as it may, money is also the apogee of human tolerance. Money is more open-minded than language, state laws, cultural codes, religious beliefs and social habits. Money is the only trust system created by humans that can bridge almost any cultural gap, and that does not discriminate on the basis of religion, gender, race, age or sexual orientation. Thanks to money, even people who don’t know each other and don’t trust each other can nevertheless cooperate effectively.

Learning to meditate helped too. When the Beatles visited India in 1968 to study Transcendental Meditation at the ashram of Maharishi Mahesh Yogi, I was curious to learn it, so I did. I loved it. Meditation has benefited me hugely throughout my life because it produces a calm open-mindedness that allows me to think more clearly and creatively. I majored in finance in college because of my love for the markets and because that major had no foreign language requirement—so it allowed me to learn what I was interested in, both inside and outside class. I learned a lot about commodity futures from a very interesting classmate, a Vietnam veteran quite a bit older than me. Commodities were attractive because they could be traded with very low margin requirements, meaning I could leverage the limited amount of money I had to invest. If I could make winning decisions, which I planned to do, I could borrow more to make more. Stock, bond, and currency futures didn’t exist back then. Commodity futures were strictly real commodities like corn, soybeans, cattle, and hogs. So those were the markets I started to trade and learn about. My college years coincided with the era of free love, mind-expanding drug experimentation, and rejection of traditional authority. Living through it had a lasting effect on me and many other members of my generation. For example, it deeply impacted Steve Jobs, whom I came to empathize with and admire. Like me, he took up meditation and wasn’t interested in being taught as much as he loved visualizing and building out amazing new things. The times we lived in taught us both to question established ways of doing things—an attitude he demonstrated superbly in Apple’s iconic “1984” and “Here’s to the Crazy Ones,” which were ad campaigns that spoke to me. For the country as a whole, those were difficult years. As the draft expanded and the numbers of young men coming home in body bags soared, the Vietnam War split the country. There was a lottery based on birthdates to determine the order of those who would be drafted. I remember listening to the lottery on the radio while playing pool with my friends. It was estimated that the first 160 or so birthdays called would be drafted, though they read off all 366 dates. My birthday was forty-eighth.

I see over and beyond all these national wars, new "empires," and whatever else lies in the foreground. What I am concerned with — for I see it preparing itself slowly and hesitatingly — is the United Europe. It was the only real work, the one impulse in the souls, of all the broad-minded and deep-thinking men of this century — this reparation of a new synthesis, and the tentative effort to anticipate the future of "the European." Only in their weaker moments, or when they grew old, did they fall back again into the national narrowness of the "Fatherlanders" — then they were once more "patriots." I am thinking of men like Napoleon, Heinrich Heine, Goethe, Beethoven, Stendhal, Schopenhauer. Perhaps Richard Wagner likewise belongs to their number, concerning whom, as a successful type of German obscurity, nothing can be said without some such "perhaps." But to the help of such minds as feel the need of a new unity there comes a great explanatory economic fact: the small States of Europe — I refer to all our present kingdoms and "empires" — will in a short time become economically untenable, owing to the mad, uncontrolled struggle for the possession of local and international trade. Money is even now compelling European nations to amalgamate into one Power. In order, however, that Europe may enter into the battle for the mastery of the world with good prospects of victory (it is easy to perceive against whom this battle will be waged), she must probably "come to an understanding" with England. The English colonies are needed for this struggle, just as much as modern Germany, to play her new role of broker and middleman, requires the colonial possessions of Holland. For no one any longer believes that England alone is strong enough to continue to act her old part for fifty years more; the impossibility of shutting out homines novi from the government will ruin her, and her continual change of political parties is a fatal obstacle to the carrying out of any tasks which require to be spread out over a long period of time. A man must to-day be a soldier first and foremost that he may not afterwards lose his credit as a merchant. Enough; here, as in other matters, the coming century will be found following in the footsteps of Napoleon — the first man, and the man of greatest initiative and advanced views, of modern times. For the tasks of the next century, the methods of popular representation and parliaments are the most inappropriate imaginable.

Yet why should Chinese, Indians, Muslims and Spaniards – who belonged to very different cultures that failed to agree about much of anything – nevertheless share the belief in gold? Why didn’t it happen that Spaniards believed in gold, while Muslims believed in barley, Indians in cowry shells, and Chinese in rolls of silk? Economists have a ready answer. Once trade connects two areas, the forces of supply and demand tend to equalise the prices of transportable goods. In order to understand why, consider a hypothetical case. Assume that when regular trade opened between India and the Mediterranean, Indians were uninterested in gold, so it was almost worthless. But in the Mediterranean, gold was a coveted status symbol, hence its value was high. What would happen next? Merchants travelling between India and the Mediterranean would notice the difference in the value of gold. In order to make a profit, they would buy gold cheaply in India and sell it dearly in the Mediterranean. Consequently, the demand for gold in India would skyrocket, as would its value. At the same time the Mediterranean would experience an influx of gold, whose value would consequently drop. Within a short time the value of gold in India and the Mediterranean would be quite similar. The mere fact that Mediterranean people believed in gold would cause Indians to start believing in it as well. Even if Indians still had no real use for gold, the fact that Mediterranean people wanted it would be enough to make the Indians value it. Similarly, the fact that another person believes in cowry shells, or dollars, or electronic data, is enough to strengthen our own belief in them, even if that person is otherwise hated, despised or ridiculed by us. Christians and Muslims who could not agree on religious beliefs could nevertheless agree on a monetary belief, because whereas religion asks us to believe in something, money asks us to believe that other people believe in something. For thousands of years, philosophers, thinkers and prophets have besmirched money and called it the root of all evil. Be that as it may, money is also the apogee of human tolerance. Money is more open-minded than language, state laws, cultural codes, religious beliefs and social habits. Money is the only trust system created by humans that can bridge almost any cultural gap, and that does not discriminate on the basis of religion, gender, race, age or sexual orientation. Thanks to money, even people who don’t know each other and don’t trust each other can nevertheless cooperate effectively.

Mowbray! Been a while since you bothered with the season. What brings you to town?” Lord Adrian Montfort, Earl of Mowbray, shifted his gaze from the couples whirling past on the dance floor and to the man who approached: the tall, fair, eminently good-looking Reginald Greville. He and Greville, his cousin, had once been the best of friends. However, time and distance had weakened the bond—with a little help from the war with France, Adrian thought bitterly. Ignoring Reginald’s question, he offered a somewhat rusty smile in greeting, then turned his gaze back to the men and women swinging elegantly about the dance floor. He replied instead, “Enjoying the season, Greville?” “Certainly, certainly. Fresh blood. Fresh faces.” “Fresh victims,” Mowbray said dryly, and Reginald laughed. “That too.” Reginald was well-known for his success in seducing young innocents. Only his title and money kept him from being forced out of town. Shaking his head, Adrian gave that rusty smile again. “I wonder you never tire of the chase, Reg. They all look sadly similar to me. I would swear these were the very same young women who were entering their first season the last time I attended…and the time before that, and the time before that.” His cousin smiled easily, but shook his head. “It has been ten years since you bothered to come to town, Adrian. Those women are all married and bearing fruit, or well on their way to spinsterhood.” “Different faces, same ladies,” Adrian said with a shrug. “Such cynicism!” Reg chided. “You sound old, old man.” “Older,” Adrian corrected. “Older and wiser.” “No. Just old,” Reg insisted with a laugh, his own gaze turning to the mass of people moving before them. “Besides, there are a couple of real lovelies this year. That blonde, for instance, or that brunette with Chalmsly.” “Hmmm.” Adrian looked the two women over. “Correct me if I’m wrong, but my guess is that the brunette—lovely as she is—doesn’t have a thought in her head. Rather like that Lady Penelope you seduced when last I was here.” Reg’s eyes widened in surprise at the observation. “And the blonde…” Adrian continued, his gaze raking the woman in question and taking in her calculating look. “Born of parents in trade, lots of money, and looking for a title to go with it. Rather like Lily Ainsley. Another of your conquests.” “Dead-on,” Reginald admitted, looking a bit incredulous. His gaze moved between the two women and then he gave a harsh laugh. “Now you have quite ruined it for me. I was considering favoring one or both of them with my attentions. But now you have made them quite boring.” -Reg & Adrian

Hi again ! My fav quote from "Kisses from Katie " By Katie J Davis frm page 174 As an 8 year old ,when I first started hearing Céline Dion’s songs, I did not realize that she was almost always singing about someone she is sooooo desperately in love with ! She has such longing and such agony as she is away from her lover .But now a I feel so much longing for my boyfriend whom Im losing .I see a lesson in this : I think the way Celine Dion feels about her lover is the way God must feel about the church ,which in some ways seems to have strayed so far from Him . I think God allowed me to REALLY MISS my boyfriend so I could catch a tiny glimpse of what God’s heart must feel as the church strays into religion and away from things that are so important to Him like helping the impoverished, unwanted people of the world . He longs and desires for my heart to come back to Him each and every minute of each and every day . God so deeply ,passionately , desperately loves us . He intensely longs for his lover to come back to his teachings of giving all we a have to Him ,our beloved , who lives in the hearts of the suffering poor people of this world and unite as a community in an effort to serve HIM in Them and I am so awed by his love for me .I feel so precious and dear to him that He is singing to me even more longingly and passionately than Celine Dion sings to her lover. That is pretty WONDERFUL !!! Satan is not a fan of God our love affair with God and so Satan is battling every day to keep us from giving our hearts to God. I am becoming more keenly aware than ever before of this battle between God and Satan to claim my heart . The devil tricks us into giving our hearts to materialistically selfish desires: wanting more and more for ourselves so we forget Love for God and our neighbor. So that we trade our noble inheritance : the precious treasure of LOVE God wants to shower on us which no money or processions can buy for more ME ME ME . No where in the bible does it say I deserve a reward (boy friend and material abundance ) here on this earth but it does say that I will have a joy so great that it is greater than all good things of this world combined . Colossians 3:23 says “Whatever work you do do it with all your heart (it does not say “and after this work you deserve a long hot bath and some me time “ it does say “Serve with all your heart since you KNOW that you will receive an in heritance in heaven from the Lord as a reward “ …And we KNOW in our hearts that God is ALL we need to overflow with joy …. (Matthew 19-21 says Do not lay up for your selves treasures in this world where moth and rust doth corrupt …..but lay up for yourselves treasure (Love for God )which will be yours for eternity “ Bless you , Dari

During his time working for the head of strategy at the bank in the early 1990s, Musk had been asked to take a look at the company’s third-world debt portfolio. This pool of money went by the depressing name of “less-developed country debt,” and Bank of Nova Scotia had billions of dollars of it. Countries throughout South America and elsewhere had defaulted in the years prior, forcing the bank to write down some of its debt value. Musk’s boss wanted him to dig into the bank’s holdings as a learning experiment and try to determine how much the debt was actually worth. While pursuing this project, Musk stumbled upon what seemed like an obvious business opportunity. The United States had tried to help reduce the debt burden of a number of developing countries through so-called Brady bonds, in which the U.S. government basically backstopped the debt of countries like Brazil and Argentina. Musk noticed an arbitrage play. “I calculated the backstop value, and it was something like fifty cents on the dollar, while the actual debt was trading at twenty-five cents,” Musk said. “This was like the biggest opportunity ever, and nobody seemed to realize it.” Musk tried to remain cool and calm as he rang Goldman Sachs, one of the main traders in this market, and probed around about what he had seen. He inquired as to how much Brazilian debt might be available at the 25-cents price. “The guy said, ‘How much do you want?’ and I came up with some ridiculous number like ten billion dollars,” Musk said. When the trader confirmed that was doable, Musk hung up the phone. “I was thinking that they had to be fucking crazy because you could double your money. Everything was backed by Uncle Sam. It was a no-brainer.” Musk had spent the summer earning about fourteen dollars an hour and getting chewed out for using the executive coffee machine, among other status infractions, and figured his moment to shine and make a big bonus had arrived. He sprinted up to his boss’s office and pitched the opportunity of a lifetime. “You can make billions of dollars for free,” he said. His boss told Musk to write up a report, which soon got passed up to the bank’s CEO, who promptly rejected the proposal, saying the bank had been burned on Brazilian and Argentinian debt before and didn’t want to mess with it again. “I tried to tell them that’s not the point,” Musk said. “The point is that it’s fucking backed by Uncle Sam. It doesn’t matter what the South Americans do. You cannot lose unless you think the U.S. Treasury is going to default. But they still didn’t do it, and I was stunned. Later in life, as I competed against the banks, I would think back to this moment, and it gave me confidence. All the bankers did was copy what everyone else did. If everyone else ran off a bloody cliff, they’d run right off a cliff with them. If there was a giant pile of gold sitting in the middle of the room and nobody was picking it up, they wouldn’t pick it up, either.” In

Kode’s older sister, Kira, was leaning over a display of jewelry, fisting a jade-green necklace in one hand. Her nose was two inches from the Braetic across the table, the two exchanging intimidating glares. Eena watched for a few seconds as Kira all but crawled over a pile of merchandise, her face scrunched up with resentment, yet enviably stunning as always. “Hey Kode,” the young queen whispered. “Hey, girl.” “What’s going on?” “Kira’s bartering.” Eena watched the fistful of necklace come within a whisker of smacking the merchant’s nose. “She isn’t going to hurt the guy, is she?” Kode snorted on a chuckle. “Not if the dude’s got any sense.” Validly concerned, Eena inched closer to the confrontation, straining to hear their growled dialogue. Kode and Niki crept closer too. Efren, however, stayed where he was, testing the flagpole’s ability to support his body weight. They watched the feisty Mishmorat hold up a small pouch and shake it in front of the Braetic’s eyes. Kira’s fingers curled like claws around the purse. She seemed to smirk for a second when the merchant flinched. In a blink he was back in her face again, shoving aside the purse. “What is she trying to trade?” Eena asked, her voice still hushed as though she might disturb the haggling taking place across the way. “Viidun coins,” Kode said. “Ef gave ‘em to her.” “Are they worth much?’ Kode grinned wryly, “He sure as hell don’t freakin’ think so.” Eena foresaw Niki’s disapproving smack to the back of Kode’s head before he even finished his sentence. He cursed at his girlfriend for the physical abuse, an unwise response that earned him an additional thump on the head. “Freakin’ tyrant,” Kode grumbled. “Vulgar grogfish,” Niki retorted. Still unable to hear well enough to satisfy her curiosity, Eena stole in closer to the scene of heated bartering. She stopped when Kira’s strong voice carried over the murmur of the crowd. Kode and his girlfriend were right on her heels. “This purse is worth ten of those gaudy necklaces. You oughta be payin’ me to take ‘em off your hands, Braetic!” “That alien money is worthless to me, Mishmorat. In all my life I’ve never left Moccobatran soil. And even if I were to take an interstellar trip someday, you’d never catch the likes of me on a barbarian planet like Rapador!” Kira jerked her head, causing her black, cascading hair to ripple over her shoulder. The action made the trader flinch again. His eyes tapered, appearing to fume over what he perceived as intentional bullying. “You ain’t gonna sell this crap to no one else,” the exotic Mishmorat said. “Be smart and take the money. Hell, you could make a dozen pieces of jewelry from these coins. Sell ’em all for ten times the worth of anything you got here.” The Braetic shoved his finger at Kira’s chest, breathing down her throat at the same time. “Why don’t you just take your pretty little backside away from my table and make your own Viidun jewelry. Sell it yourself and then come back with a reasonable offer for my necklace.” His palm opened flat, demanding she hand over the jade stones still in her fist. “You wanna make me?” Kira breathed. “What do you plan to do, steal it?” The merchant challenged her in a gesture, nostrils flaring. “I’m no thief, but I’m not above beating some sense into you ‘til you choose to barter like a respectable Braetic!” Caught up in the intense interaction, Kode supported his sister a little too loudly. “Teach the freakin’ crook a lesson, Sis!” Niki smacked her boyfriend upside the head without missing a beat.

You are claiming that the Soviet authorities began and influenced the existence of the Democratic Party [in Iran]. That is the basis of all your statements. The simplest way to discredit your absurd claim si to tell you about Iran, of which you are apparently ignorant. The people of Iran are oppressed, poverty-stricken, and miserable with hunger and disease. Their death rate is among the highest in the world, and their infant mortality rate threatens Iran with complete extinction. They are ruled without choice by feudalistic landowners, ruthless Khans, and venal industrialists. The peasants are slaves and the workers are paid a few pennies for a twelve hour day--not enough to keep their families in food. I can quote you all the figures you like to support these statements, quote them if necessary from British sources. I can also quote you the figures of wealth which is taken out of Iran yearly by the Anglo-Iranian Oil Company, of which the British Governemtn is the largest shareholder. 200 million pounds sterling have been taken out of Iran by your Oil company: a hundred times the total amount of Iran's national income and ten thousand times the total national income of the working people of Iran. By such natural resources as oil, Iran is by nature one of the wealthiest countries on earth. That wealth goes to Britain, while Iran remains poverty-ridden and without economic stability at all. It has no wage policies, no real trade unions, few hospitals, no sanitation and drainage, no irrigation, no proper housing, and no adequate road system. Its people have no rights before the law; their franchise in non-existent, and their parliamentary rights are destroyed by the corrupt method of election and political choice. The Iranian people suffer the terrors of a police regime, and they are prey to the manipulations of the grain speculators and the money operators. The racial minorities suffer discrimination and intolerance, and religious minorities are persecuted for political ends. Banditry threatens the mountain districts, and British arms have been used to support one tribe against another. I could go on indefinitely, painting you a picture of misery and starvation and imprisonment and subjection which must shame any human being capable of hearing it. Yet you say that the existence of a Democratic Party in Iran has been created by the Soviet authorities. You underestimate the Iranian people, Lord Essex! The Democratic Party has arisen out of all this misery and subjection as a force against corruption and oppression. Until now the Iranian people have been unable to create a political party because the police system prevented by terror and assassination. Any attempt to organize the workers and peasants was quickly halted by the execution of party leaders and the vast imprisonment of its followers. The Iranian people, however, have a long record of struggle and persistence, and they do not have to be told by the Soviet Union where their interests lie. They are not stupid and they are not utterly destroyed. They still posses the will to organize a democratic body and follow it into paths of Government. The Soviet Union has simply made sure that the police assassins did not interfere.... To talk of our part in 'creating' the democratic movement is an insult to the people and a sign of ignorance. We do not underestimate the Iranian people, and as far as we are concerned the Democratic Party...belongs to the people. It is their creation and their right, and it cannot be broken by wild charges which accuse the Soviet Union of its birth. We did not create it, and we have not interfered in the affairs of Iran. On the contrary, it is the British Government which has interfered continuously and viciously in Iran's affairs.