For everyone who thinks voting doesn’t matter I’ve got two words for you: legal weed. Okay, shut the fuck up now. Thank you. My state is currently not arresting people for up to an ounce of marijuana and it will soon be sold in stores, which is the greatest victory of the people thusfar in the drug war. Guess how that happened? One, some determined folks got it on the ballot and two, we voted for it. For the record, it wasn’t even close. Why am I bringing this up? For the most part I try and avoid politics in my writing (outside of the drug war) because I tend to think it takes away from a spiritual message that should be applicable to anyone regardless of political affiliation (man are people divided on politics in this country). But I just voted the other day and once again, had to endure a bunch of commentary from idiots on the internets about how “it doesn’t matter who you vote for man”.… Read the rest
Tag Archives | Money
Could this be the stepping stone to the exchange of completely electronic currency?
VIA NBC NEWS
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VANCOUVER (Reuters) – A silver and blue ATM, perched up next to the espresso bar in a trendy Vancouver coffee shop, could launch a new era for
the digital currency bitcoin, offering an almost instant way to exchange the world’s leading virtual money for cash.
The value of a bitcoin soared from $13 in January to a high of $266 in April as more businesses and consumers used them to buy and sell online. Some investors are also treating bitcoins like gold, using them to hedge against currency fluctuations and speculating on their rise.
The kiosk, which looks like the average ATM but with hand and barcode scanners, opened for business on Tuesday and by mid-morning people were lined up to swap their bitcoins for cash, or to deposit cash to buy more bitcoins.
Most likely with fists clenched and all the blood drained from its face, the Wall Street Journal reports:
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Switzerland is expected to vote later this year on a proposal to place further limits on executive pay, the latest effort to govern corporate compensation in a country that recently approved some of the world’s strictest say-on-pay rules.
The Young Socialists have collected more than 100,000 signatures—the threshold needed to call a vote—in support of a referendum to limit executive salaries to 12 times those of a company’s lowest-paid employee.
The campaign, dubbed the 1:12 Initiative for Fair Pay, is named for the organizers’ belief that no one in a company should earn more in one month than the lowest-paid employee makes in a year.
The Swiss Federal Council, the country’s cabinet, has advised the parliament to recommend that voters reject the proposal. However a poll earlier this month showed 49.5% of respondents were in favor of the 1:12 Initiative, 40.5% against and 10% undecided.
“A really efficient totalitarian state would be one in which the … of slaves who do not have to be coerced, because they love their servitude.” – Aldous Huxley
“By this means the government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.” – John Maynard Keynes
Just a short examination of the inner workings of the insidious horror that is the “Federal” Reserve system.
*$5.00 in fiat currency to the first con$umer cannibal, who can reveal the dominant stock holders of Molech Inc, aka The Federal Reserve.
Legislative watchdog Jen Briney is the host of “Congressional Dish“, a podcast that exposes Congress’s’ slimiest misdeeds in service to corporate paymasters. Get ready for some big surprises in this episode of the DisinfoCast.
This podcast also available in video:
How poverty impacts people, via the Seattle Times:
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People worrying about having enough money to pay bills tend to lose temporarily the equivalent of 13 IQ points, scientists found when they gave intelligence tests to shoppers at a New Jersey mall and farmers in India.
Dealing with financial strain consumes so much mental energy that people struggling to make ends meet often have little brainpower left for anything else, leaving them more susceptible to bad decisions that can perpetuate their situation, according to the new study.
Mullainathan and colleagues tested the same 464 farmers in the sugar-cane fields of India before and after the harvest and their IQ scores improved by 25 percent when their wallets fattened. Before the harvest, the farmers take out loans and pawn goods. After they sell their harvest, they are flush with cash.
In the New Jersey part of the study, the scientists tested about 400 shoppers at Quaker Bridge Mall, presenting them with scenarios that involved a large and a small car-repair bill.
For students of economics and ancient civilizations alike, the strange economy of the Incan Empire is fascinating. Annalee Newitz writes for io9:
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In the fifteenth and sixteenth centuries, the Inca Empire was the largest South America had ever known. Rich in foodstuffs, textiles, gold, and coca, the Inca were masters of city building but nevertheless had no money. In fact, they had no marketplaces at all.
Centered in Peru, Inca territory stretched across the Andes’ mountain tops and down to the shoreline, incorporating lands from today’s Colombia, Chile, Bolivia, Ecuador, Argentina and Peru – all connected by a vast highway system whose complexity rivaled any in the Old World. The Inca Empire may be the only advanced civilization in history to have no class of traders, and no commerce of any kind within its boundaries. How did they do it?
Many aspects of Incan life remain mysterious, in part because our accounts of Incan life come from the Spanish invaders who effectively wiped them out.
Via ThinkProgress, a survey of investors reveals the self-perception of the affluent in our deeply unequal society. More than two-thirds of millionaires do not feel that they are wealthy, and two-fifths of those with more than $5 million still feel non-wealthy:
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Rich investors say that it takes at least $5 million to feel wealthy, according to a new investor sentiment report from UBS.
They also define being wealthy not as having a certain amount of money, but having “no financial constraints on what they do.” That does indeed likely come with a large price tag.
The inflation of how much the rich thinks it takes to be rich comes at a time of skyrocketing income inequality. The good news for the uber rich is that less than 20 percent have a pessimistic view of the long-term economic outlook. That differs sharply from the general population, as half of Americans say the economy is getting worse.
Via Motherboard, Harvard philosophy professor Michael Sandel on our slide toward a market society:
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In recent decades we’ve been in the grip of market faith, which says that markets are the primary instrument for achieving the public good. This assumption has gone largely unquestioned in the past 30 years. As a result from that we have drifted from being a market economy to being a market society.
A market economy is a valuable tool for organizing productive activity. A market society, on the other hand, is a place where everything is up for sale, in which money and market values begin to dominate every aspect of life. From family and personal relationships to health, education, civic life, and politics. We need to step back and ask some fundamental questions about what the role of money and markets should be.
Utilitarianism assumes that all good things in life can be translated into a single uniform currency or a measure of value, typically money.