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Reality Check

You Call This Science?

Science today, maybe not tomorrow

Is the Peer Review Process for Scientific Papers Broken? Time – MELINDA BALDWIN – Apr 29, 2014 If peer review is indeed broken, as some observers have claimed, an important part of fixing it may be adjusting our expectations of it. It seems a bit ambitious to ask any bureaucratic process to distinguish scientific successes from ...

Life & Times
News & Views

What should be done with the Deities’ Gold?

Pressure on the Indian Rupee has got the government scrambling to find money, and they’re reaching into the coffers of temples.

Indian Temples Fight Back Against Government Gold Grabbing Plot

Zero Hedge – Michael Krieger of Liberty Blitzkrieg – Oct 1, 2013

From Reuters:
The central bank, which has already taken steps that have slowed to a trickle the incoming supplies that have exacerbated India’s current account deficit, has sent letters to some of the country’s richest temples asking for details of their gold. more

Posted in Economy, Law - Courts, Legislation, Enforcement, Money, Politics, Religion | Tagged , , , , , | Leave a comment

Virtual is now accepted as Reality

Every Important Person In Bitcoin Just Got Subpoenaed By New York’s Financial Regulator

Forbes – KASHMIR HILL – Aug 12, 2013

Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an experimental ticker (XBT), and New York’s financial regulator announced an interest in regulating it. Declaring Bitcoin “a virtual Wild West for narcotraffickers and other criminals,” the New York State Department of Financial Services is stepping into the sheriff’s boots.

“We believe that – for a number of reasons – putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry,” said NYSDFS superintendent Benjamin Lawsky in a statement. Go to story


Elusive wealth

From gold to paper to digital existence to nothingness…
Formerly in the currency, when you go to take some exchange, it was the etiquette of the teller to ask you, “What you want, silver money, gold money or paper money?” It was their duty. If you say “I want gold money,” they will pay in gold money. Not only it is written in the paper, “I promise to pay,” but the promise was kept. If he wants, “Give me payment in gold,” they will pay. more

excerpt from Morning walk, December 31, 1973, Los Angeles:

PRABHUPADA: It is very simple. Don’t accept paper currency. It must be gold or some metal worth. Just like one dollar, it must be worth one dollar metal. Then it is solved. But they want to cheat. How it can be solved? Because if I pay you one dollar, I must pay you value for one dollar. But it is the cheating process is going on, “I pay you one dollar, a piece of paper. That’s all.” So you accept cheating, and I also cheat. Government allows. So how the problem can be solved? It is cheating. But the government allows it as law. And you accept, I accept. Then how they can be solved, solution? This is the solution.

PRAJAPATI: In the economy itself there isn’t actually enough money to, that’s even in the banks…

PRABHUPADA: That is cheating. Therefore I say cheating. I have no money. I give you simply paper. I promise to pay hundred dollars. What is the use of that promise if I have no money? But you want to be cheated. I cheat you. That’s all. You are satisfied of being cheated by me; so I take the advantage and I cheat you. I give you a paper. That’s all.

BAHULASVA: Real money is gold and silver.

PRABHUPADA: Any… It must be value. According to the market price, it must be value. Whatever it may be. Gold is taken, because gold is the most valuable metal. A small piece of gold, it can carry two hundred dollars. But if I give you iron, then you have to bring another, what is called, bus, to carry it.

Posted in Economy, Money | Tagged , | 1 Comment

Dear Germany: Vee are sorry, du kannst nicht have your gold back. – Alles liebe, NYC Fed

Federal Reserve Refuses to Submit to an Audit of Germany’s Gold Held in U.S. Vaults

NSNBC International – DR. LONG XINMING (4M) – Apr 18, 2013

The German government has been storing about half of its gold supply with the US FED, apparently in the NYC FED vaults. Germany decided to bring home all its gold, but the FED has said that isn’t possible to do, and it would need until 2020 to be able to accomplish the transfer.

The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else. more

Posted in Economy, Money | Tagged , , , , | Leave a comment

Lesson from Game of Thrones

Natalie Dormer as Margaery Tyrell

Don’t Believe the Hype—House Tyrell Is Richer Than House Lannister

Slate – MATTHEW YGLESIAS – Apr 17, 2013

…In Westeros, the Lannisters have the cube of gold and the Tyrells with the rich farmland of the Reach have the real resources. You can’t eat gold. You can’t feed it to your horse either. Gold doesn’t keep you warm during those lengthy winters. Gold is useful primarily because it’s a convenient medium of exchange (who wants to carry all that wheat around) and a durable store of value (keeping a whole bunch of horses alive and healthy is itself a resource intensive process). So people with claims over valuable real resources will often end up accumulating gold. But though the Lannisters have more gold than anyone else, that’s not how they got their gold. They just own gold mines. more

Posted in Economy, Money | Tagged , , , , , | Leave a comment

Smash and grab

Here are two insightful must-reads on the recent tumble of gold and silver prices. The volatile, roller-coaster ride has been deliberately conceived and crafted by the Fed, Central Banks and friends like Goldman Sachs.

Gold Will Get The Last Laugh On Central Banks

Forbes – STEPHEN LEEB – Apr 17, 2013

In short, the West desperately wants to maintain the dollar and euro as reserve currencies. To keep the status quo, however, Western economies must also ensure that gold remain in the background. Otherwise, the central banks could no longer control commodity prices or virtually anything else in the monetary realm. more

Posted in Economy, Money | Tagged , , | Leave a comment





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