China RMB is at 6.2885 this morning according to my inbox. Shouldn’t some [intervening] bureaucrat be accusing them of intervention again? It’s still intervention whether it’s going up or down vs the USD. I still think a freely floating RMB would be more likely to fall than rise, even in a worldwide race to the bottom. Printing Press + Imploding Economy = Toilet Paper
[Actually toilet paper, cigarettes, bullets, and oxycodone would be my top choices in a true hyperinflation, far more than gold. In fact arable land beats gold in that situation as long as you can retain the title and use]
Interesting article about Keynes investment performance at Kings College endowment fund. He didn’t do well for the fund until he ditched his theories and became a stock picker – after the bottom of course. Too bad they couldn’t access his personal trading account records. The way I remember it he went bust at least once during the depression, which he didn’t see coming at all.
Beyond the obvious negative expectancy, the one thing that sticks out in my mind about government lotteries like Mega-Millions is the payout ratios are only a fraction of what you get in Vegas, i.e. the heirs of Bugsy Siegel treat you better.
Police using cell phone tracking as a routine tool. Whispering in a person’s ear under a waterfall in a remote jungle may still be secure. Not that it couldn’t be monitored, it’s just far more difficult.
The UK is trying to be a world leader in surveillance of its citizens. Perhaps its most successful attempt at leadership in the last 100 years. Congratulations.
Excellent post on the perilous pursuit of happiness. Rather than pursuing it I think it’s better to focus on what you are doing in the present moment and let happiness find you. If you don’t like what you are having to focus on in the present that’s a much simpler – and more lasting – fix.
Missed this last week – Sales of zero-day exploits to companies and governments. Security for the 1%. I bet off the books resale value is quite high too.
Foolproof tax avoidance method: Don’t make any money.