Yearly Archives: 2013

IRS makes useless paperwork less onerous for U.S. Persons in one country

"You do the math: 190-odd other countries & territories, each with their own unique kinds of purpose savings accounts, most speaking languages other than English, and fewer than a million affected filers in each to lobby for change. How long will it be before U.S. Persons finally have the freedom to move to any country on Earth without incurring unreasonable paperwork requirements, and the folks in the District of Columbia can start figuring out what to do with all those non-filers who moved to Mars in the intervening centuries?" Continue reading →

Continue ReadingIRS makes useless paperwork less onerous for U.S. Persons in one country

Manufacturing of Zeppelins temporarily shut down sausage makers in World War I

"According to a new documentary, the quantity of cow intestines used in manufacturing the airships was so enormous – and the military appetite for the dirigibles so strong – that the making of sausages was temporarily outlawed in Germany and allied or occupied parts of Austria, Poland and northern France. With the guts from more than 250,000 cows needed to produce the bags that held the hydrogen gas in each Zeppelin, the German war machine had to choose between long-range bombing and wurst. It chose the former." Continue reading →

Continue ReadingManufacturing of Zeppelins temporarily shut down sausage makers in World War I

A Curious Inspiration for the First Stethoscope

"Before he assumed the position of chief of service at the teeming Necker Hospital in 1816, Laënnec became adept at a technique called percussion, which involves striking the chest with one's fingertips in search of pathologic processes. Yet neither percussion nor the time-honored technique of listening to breath sounds by placing an ear against a patient's chest satisfied Laënnec's demand for diagnostic precision. He was especially critical of physicians' inability to hear muffled sounds emerging from the chest of an obese person, and he balked at what he described as the 'disgusting' hygiene of his patients, many of whom were unwashed or lice-ridden." Continue reading →

Continue ReadingA Curious Inspiration for the First Stethoscope

Egyptian iron artifacts, earliest ever found, made from meteorite

"The earliest iron artefacts ever found — funeral beads strung around bodies in a 5,000-year-old Egyptian cemetery — were made from a meteorite, archaeologists said on Monday. The nine small beads come from two burial sites dated to around 3,200 BC, where they were found in necklaces along with exotic terrestrial minerals such as lapis lazuli, agate and gold. X-ray scanners, meanwhile, showed that the meteorite iron had been repeatedly heated and hammered to make the precious jewels for the afterlife. This shows that in the fourth millennium BC, the Egyptians were already advanced in the art in smithing, say the researchers." Continue reading →

Continue ReadingEgyptian iron artifacts, earliest ever found, made from meteorite

Bank of America intern’s death puts banks’ working culture in spotlight

"Moritz Erhardt, 21, had won a place as a summer intern at the London city offices of the US bank and was nearing the end of his placement when he was found dead in the shower at his temporary accommodation in east London. Merrill Lynch did not comment on the length of Erhardt's working hours, and also declined to comment on whether interns – who are understood to be paid £45,000 pro rata – are routinely made to work longer than 12-hour days. A fellow intern at the bank described the aspiring student as a 'superstar', adding: 'He worked very hard and was very focused. We typically work 15 hours a day or more and you would not find a harder worker than him.'" Continue reading →

Continue ReadingBank of America intern’s death puts banks’ working culture in spotlight

Baby Boomers Put Retirement on the Back Burner

"Demographics continue to define conflict in the Middle East. Here’s Egypt’s population by age group. In Western history, we showed in Financial Reckoning Day, the French and Russian revolutions also corresponded with epochs during which large cohorts of young people marauded about the countryside with nothing to do. Even here in the U.S., a restless band of baby boomers wreaked havoc in the 1960s… at least until the draft was abolished. If, as Auguste Comte suggested, 'demography is destiny,' we continue to wonder today what will happen to the West when hordes of those baby boomers, now old, have nothing to do… and no savings?" Continue reading →

Continue ReadingBaby Boomers Put Retirement on the Back Burner

Quicken Loans founder: Detroit bankruptcy a ‘step toward a better and brighter tomorrow’

"Dan Gilbert, whose affiliated companies own more than 30 buildings and 7.5 million square feet of real estate in downtown Detroit, said the city's apparent move toward bankruptcy is a 'first step toward a better and brighter tomorrow for our city.' His full statement is below. The Quicken Loans founder, a self-described optimist, has been investing in Detroit at an unrelenting clip for at least the past three years. Gilbert's umbrella company, Rock Ventures, which includes some 75 companies, now employs about 9,200 people in downtown Detroit, and has a total workforce of about 15,000 employees nationwide." Continue reading →

Continue ReadingQuicken Loans founder: Detroit bankruptcy a ‘step toward a better and brighter tomorrow’

Obama in crossfire as battle for control of the Fed heats up

"At stake is the chairmanship of an organization whose global influence has grown ever larger in recent years. The impact of the Fed’s policies can be seen everywhere. On top of its global role, the Fed has beefed up its activities as regulator in the US. Whoever gets the job will be taking over a position more powerful than the one Bernanke inherited when he was appointed in 2006. Obama said recently that the appointment 'is definitely one of the most important economic decisions I will make in the remainder of my presidency. The Federal Reserve chairman is not just one of the most important economic policymakers in America. He or she is one of the most important policymakers in the world.'" Continue reading →

Continue ReadingObama in crossfire as battle for control of the Fed heats up

Thailand Bitcoin issues – Not exactly true

"There are reports that Thailand has advised against using Bitcoin. We read the article and in one instance, it stated that the Bank advised against using Bitcoin, then later stated it was banned. Some questions arose as to which is fact and which is made up as we could not figure out how a private company can create Thai law on something it has no clue about. We asked around and could not find any factual statement from a Government agency that what Bitcoin.co.th has said was true. Looking at the business model and the lack of useability of Bitcoin in Thailand, it soon appeared that some statements are not entirely true." Continue reading →

Continue ReadingThailand Bitcoin issues – Not exactly true

Bitcoin’s complex and changing regulatory environment

"A compliant multi-state MSB needs all of the following: Maintaining a net worth greater than $1.5 Million; Securing millions of dollars in surety bond coverage to insure customer transactions in the event of insolvency; Completing a financial audit; Creating proper KYC, AML, and other compliance systems; Going through an independent compliance audit; Hiring a compliance officer with at least five years of experience; Extensive background checks and financial disclosures from officers and investors; Due diligence on every partner and intermediary that is involved in the flow of funds. After all these conditions are met, obtaining licenses can take as long as a year." Continue reading →

Continue ReadingBitcoin’s complex and changing regulatory environment