Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

"At the farthest end of the Great Wall, Yang Yongfu limps along the section he arduously restored, in effect 'privatising' it and putting himself on a collision course with the authorities. The farmer spent five million yuan ($800,000) and years of backbreaking work renovating several hundred metres of the national symbol deep in northwestern China, turning it into a tourist site. He set up an entrance area for tourists, complete with a car park and fishpond, and his wife Tao Huiping collects the 25 yuan admittance fee at the ticket booth — a table in the open air. A 2006 law gave the government the exclusive right to manage national relics — making Yang’s project illegal." Continue reading

Continue ReadingChinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

"At the farthest end of the Great Wall, Yang Yongfu limps along the section he arduously restored, in effect 'privatising' it and putting himself on a collision course with the authorities. The farmer spent five million yuan ($800,000) and years of backbreaking work renovating several hundred metres of the national symbol deep in northwestern China, turning it into a tourist site. He set up an entrance area for tourists, complete with a car park and fishpond, and his wife Tao Huiping collects the 25 yuan admittance fee at the ticket booth — a table in the open air. A 2006 law gave the government the exclusive right to manage national relics — making Yang’s project illegal." Continue reading

Continue ReadingChinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

Obama Throwing Medical Marijuana Patients Into Federal Prison At Unprecedented Rate

"Fallout from the Obama Administration’s aggressive federal enforcement in medical marijuana states has reached a fever pitch this month with three people being sentenced, two others due to surrender to federal authorities to serve out sentences of up to five years in prison, and one federal trial in Montana currently scheduled for January 14th. Two of the three people being sentenced in the coming month face five and ten years to life, respectively. Far surpassing his predecessor George W. Bush, President Obama has conducted more than 200 SWAT-style raids on state-compliant medical marijuana businesses and has indicted more than 80 people since he took office." Continue reading

Continue ReadingObama Throwing Medical Marijuana Patients Into Federal Prison At Unprecedented Rate

A Rich Fantasy Life: Sports Fans Dream of Making a Living Off Games

"Friday is Drew Dinkmeyer's last day of work. Mr. Dinkmeyer, a 31-year-old Florida investment analyst, is leaving the finance industry altogether. He is becoming a full-time fantasy sports player. Daily-fantasy games, which condense full-length seasons into nightly competitions, were responsible for $492 million of the $1.7 billion spent on fantasy sports in 2012. There are more than 30 million fantasy-sports players in the U.S., and almost 25% dabble in daily games, the FSTA found in a report released this month. Up to 100 people earned at least $40,000 in 2012, industry experts estimate. The market is lucrative enough to support some full-time players." Continue reading

Continue ReadingA Rich Fantasy Life: Sports Fans Dream of Making a Living Off Games

Las Vegas Sands’ Sheldon Adelson ‘Morally Opposed’ to Online Betting

"Las Vegas Sands Corp. (LVS) Chairman and Chief Executive Officer Sheldon Adelson is 'morally opposed' to online gambling, calling it a 'toxin' that will rob the young and poor. Adelson, who controls the world’s biggest casino company by market value, also outlined his objections to online gambling in an opinion piece in Forbes yesterday. The Internet betting option is gaining momentum as U.S. states seek to tax a business forecast to generate billions of dollars. In February,New Jersey became the most-populous U.S. state to legalize online gambling, following Nevada and Delaware." Continue reading

Continue ReadingLas Vegas Sands’ Sheldon Adelson ‘Morally Opposed’ to Online Betting

And how would you like to pay, sir – cash, credit card, or Bitcoin?

"In Iceland, people liked to build their own houses at the time, but they couldn't put the money they were saving to build their homes into the bank, because it disappeared. Somebody had the idea to buy certificates in building materials in advance, and those certificates were denominated in cubic metres of concrete. It became very popular on payday, and our company would issue the certificates. One day the company got a call from the inland revenue asking if we had issued these vouchers. We confirmed it, but asked why they wanted to know. The official said somebody was trying to use the vouchers to pay his taxes." Continue reading

Continue ReadingAnd how would you like to pay, sir – cash, credit card, or Bitcoin?

Marc Rich, King Of Commodities, Dead At 78

"He sold Soviet oil to apartheid South Africa, despite a UN embargo, and between 1979 and 1994 made profits of around $2 billion there. He sent Soviet and Venezuelan oil to Cuba in exchange for sugar, ignoring America’s ban on trade. He sold on the global market surplus Iranian oil that had flowed to Israel down a secret pipeline, and kept the arrangement going seamlessly despite the Iranian revolution of 1979, another embargo, and the American hostage crisis. In 1983 he fled to Switzerland with his family. Thereafter he became a fugitive, a star of the FBI’s most-wanted list. In 2001 Bill Clinton pardoned him." Continue reading

Continue ReadingMarc Rich, King Of Commodities, Dead At 78

Swiss pilot cleared to finish solar plane trek across U.S.

"For Swiss pilot Bertrand Piccard, flying an experimental solar aircraft across America has been exhilarating, but perilous at times. His wispy, fuel-free aircraft, the Solar Impulse, is poised to take off Saturday on its final leg of a cross-country US tour aimed at showcasing the promise of clean energy. The plane’s American trip is just the latest in a series of groundbreaking flights across different parts of the world, including Europe and Africa. Piccard said the next plane will be 10 percent bigger, with more power, reliability, an auto-pilot function and a toilet so that pilots can make the four to six day long trips that will be part of its journey across the world in 2015." Continue reading

Continue ReadingSwiss pilot cleared to finish solar plane trek across U.S.

Selling in Chinese Yuan: A Tool for U.S. Exporters

"China's 'internationalization' of the RMB shouldn't be confused with liberalization; its borders are still far from porous when it comes to moving money, and the process comes with a lot of paperwork and bureaucracy, said Kok-Chi Tsim, managing director for international banking at J.P. Morgan Chase Bank N.A. in Chicago. Still, it could be worth it for many exporters as a means of cutting costs and attracting new customers, Mr. Tsim said at a breakfast seminar organized by the Georgia China Alliance and attended by more than 40 people.On average Chinese exporters charge about a 5 percent premium to settle transactions in U.S. dollars versus RMB." Continue reading

Continue ReadingSelling in Chinese Yuan: A Tool for U.S. Exporters

Cops Booed, Pelted With Objects After Arresting Ice-Cream Bicycle Chef

"During last Friday night's ride, Miami Police officers were booed and pelted with objects after arresting local chef Aleric 'AJ' Constantin for selling ice cream out of the back of his bicycle. 'I basically spent a day and a half in jail for selling ice cream,' Constantin says. Around 10 p.m., one of the officers approached Constantin just as he was selling some ice cream to a fellow cyclist. The cop asked the chef if he had a license to sell his dessert. Constantin handed over his driver's license and said that all of his paperwork was in order. Moreover, he had permission from the Filling Station to be there. But that wasn't good enough for the officer." Continue reading

Continue ReadingCops Booed, Pelted With Objects After Arresting Ice-Cream Bicycle Chef