Showing posts with label world economy. Show all posts
Showing posts with label world economy. Show all posts

Tuesday, September 3, 2019

Keep savings safe as gold (video)

Pat Macpherson, S.Auberon, Pfc. Sandoval, Wisdom Quarterly; Money Metals; ITM Trading
I'm taking my gold bullion, shaping it into a Buddha, putting it in a safe (tricycle.org).
What is the price of gold today? One ounce is going for $1,527 or so (depending).


Samantabadra in yab yum
The Buddha's advice on money is found in the Sigalovada Sutra and says one should take one's money and split it into four equal parts: 1) spend and enjoy, 2) pay off debts (bills, loans, etc.), 3) restock inventory, 4) put away as savings.
  1. Spend on wants.
  2. Spend on business needs.*
  3. Spend on producing more wealth.
  4. Save for times of need.
  • *Inventory, paying employees, advertising, taxes, insurance, and so on.
The only better investment is good karma.
To preserve money it's not enough to store fiat currency (faith money like greenbacks) in the mattress and coffee can. It takes an investment in something that is not affected by inflation and deflation. Gold never loses its value for long, and it not infrequently climbs in value to earn more money than it cost to buy it in the first place.

Do not accept paper notes that say someone else is holding the gold (metal). Get the metal. This may mean investment in coins, which are a ripoff because the minting eats up part of the value. Krugerrands are better. Progressive loudmouth Thom Hartmann says he prefers ITM Trading for stowing away his troy ounces of gold... Better than gold is merit (profitable wholesome karma) that ripens in the future.

Gold: Not Just for Right-Wingers!
  • (Mother Jones, May 2010) ...Thom Hartmann have both endorsed ITM Trading, an Arizona company that, like Goldline, pushes [overpriced] gold coins as “the best way..."

    Thursday, March 13, 2014

    Finally, Bitcoin EXPLAINED (comedy)

    Pat Macpherson, Wisdom Quarterly; Conan O'Brien's writers (TBS), March 11, 2014

    Bitcoin is not a coin but a virtual, well, a...
    (Team Coco) Bitcoin may be too much for puny minds to comprehend; luckily this training video explains all. Bitcoin's COO Marcus Ortmann explains what bitcoin is. Team Coco is the official YouTube channel of late night host Conan O'Brien. More

    Tuesday, January 3, 2012

    China overtakes India in science (cartoon)

    HindustanTimes.com; Wisdom Quarterly
    (USNews.com)

    Admitting to insufficient funding in research and development India, Prime Minister Manmohan Singh stressed the need for more sincere public-private-partnership (PPP) to meet objectives in the science and technology sector.

    Inaugurating the 99th edition of the Indian Science Congress at KIIT University in Bhubaneswar, Singh said over the past few decades India's relative position in the world of science has been declining with countries like China overtaking it.

    China and India strive jointly for world domination (GulfNews.com)

    "Things are changing but we cannot be satisfied with what has been achieved. We need to do much more to change the face of Indian science."

    On Tuesday [Jan. 3, 2012] the PM outlined a major increase in investment in research and development (R&D); expansion of basic science infrastructure; greater alignment of science and technology sector with the inclusive development needs of the nation; greater national and international research collaborations; and creation of a new innovation ecosystem as some of the broad objectives to achieve to change the face of Indian science. More

    Both countries having exhausted most of their natural resources aim to exploit untapped Burma, but not if Hillary Clinton gets her way for the US empire (Shanland.org).

    Tuesday, October 7, 2008

    World markets slide as gov'ts struggle to stem panic


    PHOTOS. A Chinese investor at a stock price board at a private security firm in Shanghai on October 6. World stock markets have plummeted, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis (AFP/Mark Ralston).

    TOKYO (AFP) -- World stock markets plunged again Tuesday as the global financial crisis deepened, with governments taking emergency measures to shore up confidence but failing to stem the panic.

    Markets in Asia opened sharply down, with shares in Tokyo falling more than five percent at one point, a day after a global rout saw New York's Dow Jones Industrial Average fall below 10,000 points for the first time since 2004.

    In Washington, Treasury officials said they would act quickly to implement a massive bailout plan for the financial sector, seeking bids by Wednesday to manage the troubled mortgage-related assets at the root of the crisis.

    The Federal Reserve and Treasury said they were studying the possibility of making unsecured loans in an effort to keep much-needed credit flowing.

    In Europe, finance ministers were to begin preparing their first joint measure Tuesday to reassure nervous savers by ramping up minimum bank deposit guarantees.

    In a joint declaration Monday they pledged to protect the stability of financial institutions by providing "liquidity support through central banks, action to deal with individual banks or enhanced depositor protection schemes."

    The Luxembourg meeting could produce the first joint European response to the financial crisis in the form of a plan to lift minimum bank deposit guarantees to as much as 100,000 euros (135,000 dollars).

    "We will all take the necessary measures to ensure the stability of the financial system," said Jean-Claude Juncker, who heads the group of finance ministers from the 15 countries that share the euro.

    Jean-Claude Trichet, president of the European Central Bank, said the ECB would keep injecting money into the banking system "as long as necessary" to help institutions hit by the current crisis.

    The Federal Reserve meanwhile said it would start to pay interest on bank deposits and expand bank loans to up to 900 billion dollars by year-end in a bid to increase liquidity.

    President George W. Bush visited a group of small business owners in Texas, saying he understood the difficulties being faced by the car dealer, auto shop repair owner and restaurateurs he had met.

    "It's clear they're dealing with the effects of a credit crunch," Bush said. "They're having trouble getting money to be able to continue to expand their business or money to help their consumers be able to buy their products."

    The turmoil emerged after the collapse of loans to would-be US homebuyers with shaky credit histories and caused a chaotic chain reaction, revealing how cheap credit throughout the financial system had created a massive bubble.

    The US government approved a law Friday to buy up 700 billion dollars of bad mortgages and other assets from banks, which would wipe the debts from their books in hopes they will be able to start lending more freely again.

    But approval of the massive bailout plan has failed to calm world markets, which have continued to tumble sharply. Economist Peter Morici at the University of Maryland said the bailout had not worked.

    "The bank bailout will provide banks with much-needed liquidity but it does not address the compensation and management practices on Wall Street that drove irresponsible decisions and gave rise to the crisis," he said.

    Shares in Tokyo were down 3.10% at the end of the morning session Tuesday, recovering some of the Nikkei's losses earlier in the session.

    On Monday, Wall Street came back from the edge, with the Dow Jones Industrial Average closing down 3.58%, off 369 points after losing as much as 800 points.

    The partial comeback offered a glimmer of hope on an otherwise horrific day for global markets that saw London's FTSE 100 index fall 7.86% and Paris's CAC 40 shed 9.04%.

    Shares in Moscow fell 19.10%, the market's worst-ever tumble.

    "When will the slide end? It's anybody's guess," said David Kastner at Charles Schwab & Co.

    "But the aggressive actions being taken by the Fed, and increasingly by the central bankers in Europe and Asia, point to an eventual stabilization in confidence -- where the real crisis lies. In the meantime, we expect sharp bouts of bargain hunting and more panic sell-offs."

    In Iceland, Prime Minister Geir Haarde said the government was ready to take control of the country's banks, citing "a gargantuan crisis which is part of a broader worldwide crisis."

    After a weekend summit of the European Union's big four leaders in Paris, member states' leaders issued a joint statement on Monday vowing to defend banks while remaining divided on a US-style bailout fund.

    The turbulence pushed the euro down against the dollar and yen, while oil prices fell below 90 dollars a barrel on fears about slowing demand for energy.

    Thursday, September 25, 2008

    Financial Armageddon

    While U.S. President Bush asks taxpayers for 700 billion to save the U.S. financial system from collapse -- having already wasted 1,000 billion (i.e., a trillion) waging illegal wars in Iraq, Afghanistan, and posturing against Iran (North Korea, and anyone else he deems "evil") -- the Iranian leader has called him out.



    Interestingly, much of the world now threatened by the U.S. (and England and Israel to be fair) was once Buddhist land [Gandhara and elsehwere], later overrun by Nagas and Islam and now Nagas again -- in the guise of democratic hegemony. But it's the same old drive for world dominance (be it physical or financial).

    Iran leader says "American empire" near collapse
    Slobodan Lekic (AP)

    UNITED NATIONS -- Iran's president accused "a few bullying powers" of trying to thwart his country's peaceful nuclear program and declared in a speech Tuesday before the U.N. General Assembly that "the American empire" is nearing collapse.

    Iranian President Mahmoud Ahmadinejad sharply attacked the United States and NATO, accusing them of acting as aggressors in Iraq and Afghanistan, and of starting those wars "in order to win votes in elections."

    "American empire in the world is reaching the end of its road, and its next rulers must limit their interference to their own borders," Ahmadinejad said. In a highly rhetorical speech, the Iranian leader again criticized archenemy Israel and showed no sign of reaching out to Western powers at the U.N., where the United States and its European allies are seeking a new round of sanctions if no agreement is reached on limiting Iran's nuclear capabilities.

    Some worry that Israel or the U.S. might resort to military strikes if they believe all diplomatic options have been exhausted. While the U.S. and its allies allege Iran wants to develop its uranium enrichment program to make nuclear weapons, Tehran insists it is designed to produce electricity for civilian use — a position Ahmadinejad reiterated Tuesday.

    "A few bullying powers have sought to put hurdles in the way of the peaceful nuclear activities of the Iranian nation by exerting political and economic pressures against Iran and also through threatening and pressuring the IAEA," the U.N. nuclear watchdog. Iran already is under three sets of sanctions by the U.N. Security Council for refusing to suspend uranium enrichment. Washington and its Western allies are pushing for quick passage of a fourth set of sanctions to underline the international community's resolve, but are likely to face opposition from Russia.
    ,
    A protester wears an anti-Mahmoud Ahmadinejad badge at a rally on 9/22/08 in New York. Barack Obama has condemned the Iranian president's anti-Zionist and anti-US remarks in his speech at the UN General Assembly (AFP/Getty Images/Mario Tama).

    As in past years, the United States only had a low-level note-taker sitting in a rear seat reserved for the U.S. delegation, said Richard Grenell, spokesman for the U.S. Mission to the United Nations. On Tuesday, Ahmadinejad also lashed out at Israel, saying "the Zionist regime is on a definite slope to collapse, and there is no way for it to get out of the cesspool created by itself and its supporters." The Iranian president is feared and reviled in Israel because of his repeated calls to wipe the Jewish state off the map, and his aggressive pursuit of nuclear technology has only fueled Israel's fears. He said that six years after Saddam Hussein's regime was ousted in Iraq, "the occupiers are still there."

    "Millions have been killed or displaced, and the occupiers, without a sense of shame, are still seeking to solidify their position in the ... region and to dominate oil resources," Ahmadinejad said. In Afghanistan, terrorism is spreading quickly and the presence of NATO forces has contributed to a huge increase in the production of narcotics, Ahmadinejad said.

    Ahmadinejad's speech came just hours after President Bush made his eighth and final speech to the U.N. General Assembly, urging the international community to stand firm against the nuclear ambitions of Iran and North Korea.

    "A few nations, regimes like Syria and Iran, continue to sponsor terror," Bush said. "Yet their numbers are growing fewer, and they're growing more isolated from the world. As the 21st century unfolds, some may be tempted to assume that the threat has receded. This would be comforting. It would be wrong. The terrorists believe time is on their side, so they've made waiting out civilized nations part of their strategy. We must not allow them to succeed."

    At one point during Bush's 22-minute speech, Ahmadinejad turned to Iranian Foreign Minister Manouchehr Mottaki and gave a thumb's down. During interviews ahead of his speech Tuesday, Ahmadinejad blamed U.S. military interventions around the world in part for the collapse of global financial markets. He said the campaign against his country's nuclear program was solely due to the Bush administration "and a couple of their European friends."

    "The U.S. government has made a series of mistakes in the past few decades," Ahmadinejad said an interview with the Los Angeles Times. "The imposition on the U.S. economy of the years of heavy military engagement and involvement around the world ... the war in Iraq, for example. These are heavy costs imposed on the U.S. economy. "The world economy can no longer tolerate the budgetary deficit and the financial pressures occurring from markets here in the United States, and by the U.S. government," he added.

    In a separate interview with National Public Radio, Ahmadinejad claimed vast international support for his position and said the campaign consisted "of only three or four countries, led by the United States and with a couple of their European friends."
    .
    Iran's President Mahmoud Ahmadinejad (R) speaks as Rabbi Moshe Ber Beck of Neturei Karta, an Ultra-Orthodox movement within the anti-Zionist bloc, listens during a meeting in New York, 9/24/08 (Reuters/Brendan McDermid).
    ___
    Associated Press Writer Edith M. Lederer contributed to this report.