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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (9396)9/15/2001 11:53:19 PM
From: Ilaine  Read Replies (1) | Respond to of 74559
 
Hi Jay-

I am in the camp of people who believes gold prices are manipulated. I mean, duh. Central banks manipulate currency prices and interest rates, why wouldn't they manipulate gold prices? And how is it any different? People use gold just like cash, don't they? Just clunkier.

I think for gold bugs, gold is their religion, and they believe in the separation of church and state.



To: TobagoJack who wrote (9396)9/16/2001 12:10:34 AM
From: Mark Adams  Read Replies (2) | Respond to of 74559
 
Chugs Jay, interesting times. This from a link you provided, important enough I think to duplicate here.

September 20 1999 OPINION

Forecasts of worldwide conflict on the Islamic fault-line are chillingly accurate

A prophet of doom
The Times of London
by William Rees-Mogg

The world is full of violence. There are the massacres in East Timor; the murder of 300 Russians by terrorist bombs, probably related to Chech-nya; the ethnic cleansing of the Albanians and then of the Serbs in Kosovo; the Nato bombing itself, which has left Serbia devastated and Kosovo polluted with unexploded cluster bombs; the grumbling confrontation in Kashmir between India and Pakistan, both nuclear powers; Saddam Hussein's plans for weapons of mass destruction; the Anglo-American response of sanctions and bombs. However safe we may feel going about our usual business in one of the West's great cities, this century of violence is ending with worldwide violence, and the threat of worse to come.

Those episodes of violence which seem of more than local relevance, or have resulted in intervention by the United Nations or the United States, all have something in common that the world is very reluctant to recognise. In one sense, East Timor, Chechnya, Kosovo, Iraq and Kashmir are all parts of a single global problem - they are all conflicts between Islamic countries or ethnic groups and other cultures.

They are not all confrontations between Islam and the West, though Iraq is such a confrontation, and is recognised as such throughout the Islamic world. Even the great Arab peacemaker, King Hussain of Jordan, said that the Gulf War was "a war against all Arabs and all Muslims and not against Iraq alone". The West is also deeply involved in the conflict in East Timor; the East Timorese are Roman Catholics, and Australia is the leading peacekeeping nation.

Yet the other three conflicts are not of Islam against the West, but of Islam against other world cultures. Kashmir is a conflict between the resurgent Islam of Pakistan and the resurgent Hinduism of India. Chechnya is a conflict between Islam and Russia, the core nation of Slav Orthodoxy.

Kosovo is an even more extraordinary situation, a conflict between Islam and Slav Orthodoxy, in which the West intervened on the side of Islam.

In 1993 Samuel Huntington, a Professor of International Studies at Harvard, published an article in Foreign Affairs arguing that after the end of the Cold War conflicts between civilisations would dominate the future of world politics. He gave warning of the seriousness of "fault-line conflicts" between civilisations, and was much criticised for his observation that "Islam has bloody borders". East Timor, Chechnya, Kosovo, Iraq and Kashmir seemed to confirm that observation, whether or not one thinks that Islam is the more to blame in any particular case.

In 1996 Professor Huntington expanded his argument into a book, The Clash of Civilisations and the Remaking of the World Order (Simon and Schuster, £16.99), which was described by Henry Kissinger as presenting "a challenging framework for understanding the realities of global politics in the next century". To an alarming degree, Professor Huntington's analysis seems to be proving accurate.

His thesis is that the people of the world have grouped into separate civilisations which have been a powerful force of cohesion in early human history. "Blood, language, religion, way of life, were what the (Ancient) Greeks had in common . . . of all the elements which define civilisations, however, the most important usually is religion." He identifies several major contemporary civilisations: the Chinese, Japanese, Hindu, Islamic, Orthodox, Western and Latin American, all more than 1,000 years old.

The four largest are the Chinese, Hindu, Islamic and Western, each with about a billion people. Each has its founding religion, around which the civilisation is formed: Confucianism, Hinduism, Islam and Christianity. China and India are the core countries of their own civilisation; the West is seen as double-headed between the United States and Europe; Islam has no core country, which makes it more difficult to relate to from the outside. Islam and the West, in different ways, present the world with the greatest difficulties. The West is perceived as claiming a unique dominance; it represents both a universal power, based on American technology, and a universal ideology, based on liberalism, democracy and human rights. The bombing of the Chinese Embassy in Belgrade was seen by the Chinese, and by the other civilisations, as a symbolic exercise of Western arrogance.

The other civilisations perceive the West as alarmingly powerful in military and economic terms, while being undermined by social indiscipline, the break-up of the family, loss of religious belief, crime, drugs and the underclass, as well as by ageing populations, low savings and unemployment.

The West may see itself as the model for the next century; all the other civilisations see as much to avoid as to emulate. "The West is overwhelmingly dominant now and will remain number one in terms of power well into the 21st century. Gradual, inexorable and fundamental changes, however, are also occurring in the balances of power amongst civilisations, and the power of the West . . . will continue to decline," Huntington says.

In the 75 years between 1920 and 1995, the West's share of political control of territory declined by 50 per cent, of world population by 80 per cent, of world manufacturing output by 35 per cent and of military manpower by 60 percent.

Islam is divided into some 45 independent states, but is united by the strongest of the great world religions, in terms of its cultural hold on its followers. It has one great economic advantage - control of much of the world's oil reserves, which are predicted to run out some time in the next century. It is still in a stage of rapid population growth and Muslims are expected to make up about 30 per cent of the world's population by 2025.

Already, Islamic immigration has caused a strong political reaction in Western Europe; half of the babies born in Brussels, the headquarters of the European Union, are to Arab mothers. Young, unemployed and disaffected Muslims are a threat both inside their own countries and to the West.

"The Islamic resurgence has given Muslims renewed confidence in the distinctive character and worth of their civilisation and values compared to that of the West. The West's simultaneous efforts to universalise its values and institutions . . . and to intervene in conflicts in the Muslim world, generate intense resentment among Muslims."

The danger lies in the reaction between this revival of Islamic confidence, backed by a growing population, and the fears of the neighbouring civilisations. All the neighbouring civilisations feel potentially under threat.

The West is concerned about oil, nuclear proliferation, immigration, the survival of Israel and human rights. The threat to Russia is even more direct, from the current wave of terrorism and claims for independence. The Serbs fear a greater Albania. India fears Pakistan and potentially the alienation of the 100 million Muslims in India itself. China is concerned about Central Asia and about the Chinese in Indonesia. The non-Muslim population of sub-Saharan Africa has anxieties as well.

It cannot be said that Professor Huntington's proposed remedies are as convincing as his analysis. I am more optimistic than he seems to be about the future relationships of three of the four largest civilisations. I expect the West's relationships with China and India, and their relationship with each other, to continue to improve.

Islam is the unresolved problem. Certainly the West needs to show much greater insight into the Islamic revival, which will develop further. Arrogance, cultural supremacism or downright hostility must be the worst possible response. Yet, as in Serbia, the neighbours of Islam will find their own populations reacting to Islamic revival. It was fear of the Albanians in 1987 which brought Milosevic to power. The world is not going to find it easy to bind up the "bloody borders" of Islam.

--



To: TobagoJack who wrote (9396)9/16/2001 12:50:15 AM
From: Stock Farmer  Respond to of 74559
 
>>Step back from your cellphone and look at the big picture.<<

ROFLMAO... Jay, them's fightin' words... and soo true. But not just for poor Maurice, who I'm sure will master a snappy reply.

The natural progression from <fruit knives> is of course a 0.x micron "1" followed closely thereafter by "0". But maybe not in that precise order. I wonder how much destruction a string of these will render?



To: TobagoJack who wrote (9396)9/16/2001 5:05:43 AM
From: Maurice Winn  Respond to of 74559
 
Jay, thanks for the links: <...Rees-Mogg and Davidson's most recent volume, "The Sovereign Individual," explores the many ways modern electronic communications are changing the relationship between the individual and the state. The authors term the transition from industrial to information-based society as the "fourth stage of human society" and see it as the most significant economic and political development in centuries. >

Well, he's on the right track, but he should say "...the most significant economic and political development since DNA first climbed out of the trees and walked on two legs". Being British, I think he would understate the situation like that. But really, It is actually the most significant economic, technological and political development since DNA first started coiling up on itself.

I have priced in the missing WTC and a lot more missing besides. <You did not price in WTC disappearing in 190 minutes. And, just maybe 1.odd billion folks are not interested in cellphones at all.> Cellphones are just the tip of the iceberg. They are just the temporary carrier of painfully slow wireless access to cyberspace.

CDMA and CDNA will be what is left when the industrial revolution has been left behind and the Taleban are just a distant memory.

Mq



To: TobagoJack who wrote (9396)9/16/2001 6:15:50 PM
From: Maurice Winn  Read Replies (1) | Respond to of 74559
 
Jay, buy food, water, shelter, communication, fuel, medicine, ammunition - people are now aware that cellphones are very essential parts of life. CDMA phones are the future.

I would not want to be a shareholder in luxury businesses such as airlines, international tourism, high-priced restaurants and $12 martinis.

Here is the word on CDMA: Message 16361758

I said I had priced the WTC destruction into my plans. That's true and more as well, but I am disconcerted that the things which I priced into my plans, such as Globalstar business to zero and techwreck taking QUALCOMM to $50 from $180 and some substantial conflicts and a few sudden, unannounced events such as WTC have all come to pass. I am running out of clearance.

I am not expecting Taiwan to be attacked by China now but that was another thing I had "counted on". I have got enough of my 'wishes' to contend with now. I'm glad I decided way back on 12 March to agree with you that things were not going according to my most optimistic plans and that I should factor in some more mayhem and sell some Q!. Thanks for your free consultancy service.

But I remain happy with my safe haven = QUALCOMM. Events are bearing out that cellphones are essential no matter what is happening to other parts of the economy.

Mqurice



To: TobagoJack who wrote (9396)9/16/2001 9:47:52 PM
From: TobagoJack  Read Replies (1) | Respond to of 74559
 
More from "Blood on the Streets"

Page 297 "New York is highly vulnerable to sabotage, terrorism, and simple infrastructure breakdown (note; that's even after all the higher security measures implemented after the first bombing of WTC). It depends for its viability on the assumption that the overwhelming majority of its habitants will adhere to civilized lifeways. Tunnels, bridges, pumping stations, power lines, are all practically unguarded. Many could not be guarded. They are artifacts of a 'brittle power,' left over from the age of large-scale organizations and social order that could be shattered with a blow. The wonder is that some henchman of Saddam Hussein or a terrorist group or a criminal gang has not already held the city to ransom by sabotaging crucial facilities. Simply turning off the electricity brings the city to a halt. The Sendero Luminoso, the nihilist guerrilla band who terrorize Peru, have many times turned off the lights in Lima, shut off
the water, and closed down the sewage systems. It would be militarily easier to disrupt New Youk, and the damage done would be greater.

"As the 1990's unfold, New York could become as violent as Rio de Janeiro, with a new class warfare waged in the streets by muggers, kidnappers, and criminal terrorists. It is not uncommon for criminal bands in Brazil to 'assault entire apartment buildings, systematically looting them, floor by floor.' Something similar could happen in New York.

"By the year 2000, New York could be a Gotham City without Batman. Currently thriving buildings could stand empty. The communications, banking, and financail industires now headquarted in NY are likely to be downsized, file for bankruptcy, or flee the city. Midtown Manhattan could end up like downtown detroit, a rapidly depreciating shell, prey to beggars and criminals..."

The book was copyrighted in 1991.



To: TobagoJack who wrote (9396)9/17/2001 10:24:38 PM
From: Mark Adams  Respond to of 74559
 
A juxtaposition;

New:
Message 16369614

Old:
Message 16370076

Some of the names and places are the same, despite 8+ years passing.



To: TobagoJack who wrote (9396)9/20/2001 1:50:16 PM
From: Mark Adams  Respond to of 74559
 
The authors suggest the lack of interest (usury) in Islamic society hinders the creation of capital, which in turn slows the creation of capital intensive industry. Further, they propose that in the postindustrial era, this hindrance is less significant as much new economy activity is less capital intensive.

I tend to disagree on the latter, as the creation of knowledgeable individuals is quite capital intensive. But it occurred to me that this approach might support a more sustainable approach to growth in the long run.

Compound interest pushes individuals and groups to accelerate returns into the present as much as possible. This seems contrary to Sustainable Growth principles, which would look at how to maximize value delivered over time. I see compound interest as creating a potential Incentive Trap, maximize value delivered today without regard to future impact.

Further, Compound interest tends to concentrate wealth. Some would say into the hands of those who know how to best deploy it. But then you have the situation where wealthy patrons fund theater in NYC rather than, say fresh water in NW Australia. Their personal comfort would likely take precedence over the best long-range investment from a global perspective, hence yet another incentive trap.

Any thoughts?