In between family, presents, and the eating of Christmas cookies, the holidays gave time to revisit a book or two. One such book was Paper Money, by Adam Smith (aka George Goodman). Paper Money is a timely chronicle of 1970's economic conditions housing bubble, energy crisis, runaway inflation and so on published in 1981. In thinking about the conditions that exist today (or could soon exist in future), this passage from Paper Money stood out: The binge of the Second Oil Crisis, you will now see, is very relevant to this discussion of paper money. Remember Sir Thomas Gresham, whose law said bad money drives out good, meaning bad money drives good money out of circulation and into savings. The bad money is spent. In the Second Oil Crisis what was saved was oil, and what was spent was money. The store of value had become oil. The yen, the marks, the dollars, the francs, were spent; the oil was saved. The lesson was not lost. Oil was the good currency, money the bad. When the Iranians restored production, they made more money producing at 3 million barrels a day than they would have made at their former rate of 6 million barrels a day. The Kuwaitis said they might cut back by 500,000 barrels a day, the Nigerians said they would cut back 200,000 barrels a day, the Venezuelans 150,000 barrels a day. Oil does not make very good money. It does not sit neatly in bank vaults. You cannot trade a quart of it for a tuna sandwich, or a barrel for a pair of shoes. On a very large scale you might be able to trade it for a million pairs of shoes, but the trade would be cumbersome. Gold became money because it was so destructible and finite; the destiny of oil is to burn. Ironically, monetizing the oil helped to produce the age of paper money, and the destiny of paper money is also to burn, except that paper money is really a misnomer, because the money is really blips in a computer, and blips do not burn. Not literally. This goes back to an intriguing line of thought: Hard assets as a store of value. Those who belittle gold, for example, fail to understand that gold value comes from being one alternative currency not subject to the whims of a printing press. Gold is like a wallet to put one wealth in, where the government moths cannot eat it. But gold is a rather small wallet. Other potential of value wallets, like oil and possibly other raw materials, are much bigger. Oil of course gets used up over time. But the demand curve is readily apparent. One can view oil as a reasonably constant store of value as long as buyers are hungry to burn it. In his book (written 30 years ago) Smith talks about why oil does not make a very good currency. But as we talked about in "The Trouble With MMT," this digital age of instant transactions makes it very easy for investors to shift their preferences. And that, in turn, makes it easier to view a of value commodity as a form of alternative currency, especially when the officially sanctioned (government supplied) currency has become a wasting asset. Twenty or thirty years ago, it would have been a challenge to keep your wealth in a mix of, say, fossil fuels, base metals, and timberland, but now the concept is much easier to execute. When it comes time to make a cash transaction buy the milk or pay the tax bill or what have you it becomes possible to slice off a little corner of one of value hoard and turn it into dollars, or euros, or whatever suffices for temporary transaction needs. The Gresham law idea is also powerful because it addresses abuse of privilege, another topic we discussed at length in the critique of MMT. The more that fiat issuing governments hamfistedly over exploit their leverage and spending options, the greater incentive investors have to play a game with the bulk of their investable savings Gresham law at work. On top of this, there are many who have a direct vested interest in promoting the hard asset game as a great one to play. In Paper Money, Smith recounts a list of players who happily benefited from the 1970's energy crisis participants who saw more dollars in their pockets than higher energy costs took out: The Brits and Norwegians because they owned the North Sea oil fieldsNon OPEC oil export centers, like Mexico, Louisiana, Alaska and Texas, that tangibly benefited from a rocketing oil priceThe major oil companies who carried and refined OPEC oil (along with their own non OPEC stores), and saw gross volumes and profit opportunities go up as the raw material value went upThe investment bankers who the bonds for the pipelines and otherwise conducted lucrative energy centered deals (M IPOs etc.)The broader energy industry on the whole (oil service, exploration, and so on)The and sutlers to the Middle East those who sold hundreds of billions worth of military hardware to OPEC nationsThe biggest banks in the world, who by and large handled and invested OPEC petrodollar deposits (and fractionally lent out the proceeds)Giant construction conglomerates Bechtel, Fluor (NYSE:FLR) and so on who contracted the massive oil related infrastructure dealsCountless middle men, purchase agents, lawyers, lobbyists and negotiators the professional problem solvers and wheel greasers who handled disputes, solidified contracts and facilitated dealsThe research and consulting fields oil and energy experts commissioned to do vast studies, write thick research reports, investigate alternatives and so on The point of that long list being that, even in a western energy there are many players that benefit, some of them substantially, and those players have an implicit vested interest in seeing a scarce resource get scarcer (or a of value premium get fatter). Another Feedback Loop? The danger here is another hard asset feedback loop, in which investor behavior becomes self confirming and self sustaining based on rising price trends. The loop could work like this: Hard asset values rise on perceived long term demand trendsWestern fiat debasement underscores the of value ideaAs valuations rise, the hard asset bias confirms itselfRising food and energy costs act as a regressive taxCompressed income / high debt levels = persistent stagnationWestern governments respond w/ more aggressive debasementA weakening West is contrasted with strong emerging marketsReturn to step 1, amplify and repeat. The above loop, which clearly has the potential to become self reinforcing with many vested interests encouraging it is an example of what George Soros meant when he said this: Classical economic theory assumes that market participants act on the basis of perfect knowledge. That assumption is false. The participant perceptions influence the market in which they participate, but the market action also influences the participant perceptions. They cannot obtain perfect knowledge of the market because their thinking is always affecting the market and the market is affecting their thinking. The trouble is that, from a social cohesion standpoint, this type of feedback loop is not sustainable. Given that rising raw materials costs are a sort of regressive tax one that hits the poor and middle income classes hardest an acceleration of fiat flight and hard asset hoarding divides up and in a potentially explosive way. This is especially true against a backdrop of globalized wage pressures and persistent long term unemployment. (In their Christmas issue, The Economist grimly touched on this.) As yours truly explained in reply to a recent comment: Unfortunately the debasement process is more likely to speed up than slow down. The of the west (retiring baby boomers) is coming at a most inopportune time, with already excessive debt levels set to build further even as the emerging world produces and consumes more aggressively (which in turn compresses wages and increases the cost of food and energy). To a significant degree the upper income classes will be okay with this debasement acceleration, because they have the ability to 1) better exploit the profit producing aspects of globalization and 2) combat wealth erosion via cost of living increase by participating in paper asset booms. Bottom line: For those on the bottom rung of the income and education ladder in the Western world, life was already hard and it only going to get harder Disclosure: None Men Nike Free Run 4.0 V3 Anthracite Black ,Men Nike Free Run 2 Purple Gold White Nike Roshe Run Men Black Solar Red Nike Roshe Run Men Iguana Black Women Nike Free Run 3.0 V4 Volt Reflective Silver Platinum Men Nike Free Run 4.0 V2 Iguana Reflect Silver Cargo Khaki Quilted Men Nike Free Run 3.0 V4 Black Gym Red Wolf Grey Women Nike Free Run 4.0 V2 Black University Red Men Nike Free Run 2 Blue Glow White Black Volt Men Nike Free Run 2 Blue White Wolf Grey If your kitchen table has become more of a landing ground for the last 6 months of magazines, 2 weeks of mail, children projects and other assorted clutter rather than a place to enjoy family dinners, and the thought of opening a closet door or desk drawer makes you shudder then these four easy tips on home organization may be just what you need to reclaim your home. 1. Everything should have a home. In our busy lives it is easy to get in the habit of creating stacks and piles on the closest surface to us. We stuff things in drawers and closets for when we have time to get to our home organization. Finding a place for things in advance makes it easier to avoid this trap. If your mail goes in the basket by your front door every day, there is no need to think about where it will be put, or to go looking for a missing stack when a bill comes due. Organizing your tools so that the hammer goes in the same drawer every time makes it not only easier to put away but saves you time and energy when you need to use it. Wouldn it be nice to know just where to find something without having to try and remember when you used it last? As the old adage goes: A place for everything and everything in its place. 2. Decide how much room you are willing to give certain things in your home. If, for example, you receive magazines, have a basket where they are stored. When the basket is full it is time to purge the older or less interesting magazines. If you find yourself holding onto magazines for one recipe or workout routine you are dying to try out, remove the page. A folder with recipes you collected or exercises you are going to use from ten different magazines will take up much less space in your home then keeping all ten magazines. Closet space is a problem for many when it comes to home organization. Most of us only wear 20 percent of the shoes we own on a regular basis. If your space is limited, remove your off season or special occasion shoes. They can be stored in clear Tupperware on out of reach shelves or under beds. Creating dedicated space for your everyday shoes will help stop them from piling up in front of doors and in hallways. This sorting process can be a good time to ask yourself when was the last time I wore these? Are these shoes too worn out to be saved? 3. Create a system for areas of your home that become the most cluttered. If laundry creates predictable clutter and chaos in your home find a system for dealing with it, and stick to it. Sorting as you go will help make your laundry chore simpler. If you typically sort in lights, darks, and whites provide three hampers in your laundry area. Children can pitch in too. Presorting makes it easier to do a load here and there as time allows, or eliminates a step for you if you prefer to do your laundry all at once. Keep what you will need to finish the job all in the laundry room, such as hangers and baskets. Hang things directly as oppose to folding them and then hanging them when they reach their destination. Separate family members laundry into different baskets. If everyone pitches in to put away their own items the job becomes faster and less tedious. 4. Make time for home organization every day. If you dedicate a small amount of time every day to moving through your home and putting stray items back in their place the job will become much less daunting. Create a habit out of it. If you are a morning person, find ten minutes before breakfast to do this task. If you can function well until noon, perhaps 10 minutes after dinner will suit you better. If cleaning up the stray clutter becomes a once a day event there will be much less of it to clear. You will find your home stays more organized and you will have more stress free time to enjoy with family and friends. Men Nike Free Run 4.0 V3 Anthracite Black,jump to contentmy subreddits limit my search to /r/Fitnessuse the following search parameters to narrow your results:see the search faq for details. I play soccer, so competition day is game day. I have found that a nice ribeye and a bowl of ice cream the night before really improves my performance. As for game day, i eat a snickers bar about an hour before and sip on a redbull up until game time. Not as much water in my muscles. I don have any science to back this up but when I get back from my vacation I going to go back to Monohydrate. While I don like the water weight/bloating, my goal is to increase strength and I feel like having more water increases nutrient delivery and recovery. I had pretty good results. It totally kills you appetite so you don have to sit shaking and sweatin in your computer chair fantasizing about cookies. It also makes you feel pretty awesome. It was like what I always wanted energy drinks to be. The problem was coming off it. It sucked. You baiscally go through mild withdrawel. I got headaches and I felt crappy and I just wanted to take it. I suggest taking a week off of it every 2 or 3 weeks as a tolerance break. No Aspirin. I was cautious about blood pressure increases, so I had some nursing student friends of mine monitor my BP as I started the stack. Minor increase, but as my BP was perfectly healthy to begin with it was nothing concerning. It really does make a remarkable difference on your appetite. I eat much less when I on my ephedrine and yet I don feel sluggish. If I don take my ephedrine for a day I ravenous and eat everything in sight. I have leaned out a little bit, but I don really do enough cardio/HIIT/etc to really make a significant cut. I hovering around what I assume is 12 ish% and I happy to chip away slowly. I taking 2 32mg doses per day (4 8mg tabs per dose, 6 hours b/w doses) with 200mg caffeine, Green tea extract, and Fish Oil. If I take a preworkout I skip the caffeine on the dose.
Welcome To Official Web Site Of The Men Nike Free Run 4.0 V3 Anthracite Black,Men Nike Free Run 3.0 V4 Tiffany Blue Quilted In this modern take on the classic play, Laura Wilde is about to be married to the handsome Tiernan Fitzpatrick. But on the eve of the main event, she learns that her perfect fianc may have slept with another woman on his stag night. And when this woman turns up at the wedding rehearsal, Laura's world starts to fall apart. It is directed by Karl Golden (The Honeymooners, Beached) and produced by Martina Niland (Once) and David Collins (Cairo Time). The 75 minute TV film was shot over 15 days in July of this year in Knockbawn, Co. Wicklow with a budget of just 400,000. The young cast involved sees a combination of both upcoming and established Irish talent, including newcomer Christina Carty as Laura Wilde, Brendan McCormack (The Daisy Chain) as Tiernan Fitzpatrick, Michael FitzGerald (Leap Year) as Oisin, Tatiana Uliankina (Fair City) as Sascha and Domhnall O'Donoghue (Jack's Hat) as Ciarn and Aislin Bea (Fair City) as Leanne. IFTN caught up with the film's director to talk about the film's production, fear's about taking on Wilde and the change from a fan to a bag. IFTN: How did 'Belonging to Laura' come about and how did you yourself get involved? Karl Golden: I knew Martina and David, the producers, very well I had worked with them on 'The Honeymooners' and when I was starting out we did a couple of shorts together so we are always trading ideas and scripts and they came to me about a year ago with the screenplay for 'Belonging to Laura' and I immediately liked it. I'm a big Oscar Wilde fan and have been since I was young because I thought his plays were so provocative and rebellious in their spirit. I always thought it was a shame that there was no Irish film production made of an Oscar Wilde play, any Wilde films done over here and in the UK were always quite gentile and quite formal so when I read the script I saw it as an opportunity to do something in Ireland that had an Oscar Wilde spirit to it and is still quite modern despite being over a hundred years old. Obviously some small changes had to be made to the original script but you've made some significant alterations to Wilde's plot, did you do this on purpose to allow for differentiation between the film and the original play? There were a few challenges in that. I think you could definitely look at the film and not know it was based on an Oscar Wilde play and my attitude is that if Oscar Wilde was looking down on us he'd be encouraging us to fck with his drama. Having too much reverence for it isn't going to work and the last thing I wanted to do with this was to have a theatrical style film people constantly declaring things for example. Also, I wanted real characters and Wilde's Lady Windemere, for example, is far too nave and in awe of her husband. It seemed more true to life in the way that Tiernan (played by Brendan McCormack) doesn't know if he has done something wrong without that ambiguity there isn't enough cinematic tension. The biggest thing we took from Wilde was the structure of his story he was incredibly modern in his approach to plot structure. Purely from a craft point of view he was an incredible dramatist. One of the characters, Ciarn (played by Domhnall O'Donoghue), is the only character that really stays true to the Oscar Wilde style of speech and flamboyance was this done on purpose as a kind of Wildean tribute? The inclusion of the Ciarn character was a big decision early on. When I came on board one draft of the film's script had already been done and a choice had been made to feature a lot of the Wilde language and I think that would have meant us going completely Wilde with the language it'd be very much an all or nothing thing. I didn't feel like I could have actors sitting around talking in half Victorian and half contemporary speech, it wouldn't have worked. But we did decide to have one character who would have something of the spirit of Wilde in there, without it being too self conscious. It's a melodrama already so we needed to keep other aspects of it as real as possible but with Ciarn we decided to make him quite a flamboyant character. Gay characters in Irish drama are quite under represented and, while not looking to make a big statement and I'm not some gay rights campaigner but I just think this is modern Ireland so we have one of the group of friends who is openly gay and whose friends celebrate this. He's secretly in love with one of the other characters which added to the texture of what we were trying to do with the film and introduced an idea of global Ireland the various colours and textures of the film represent the people of modern Ireland. On that note, there is a mix of ethnicities at the wedding of Laura and Tiernan a polish band, Korean food for example. Was this done to further reflect a 'Global Ireland'? I've been living in London for eight years now and so I didn't approach 'Belonging to Laura' thinking "Well this is an Irish film where everything has to look like the Ireland that people often see on screen. Ireland on screen is either an incredibly contrived, American version of Ireland or caricatured somehow. You don't often see the other version of Ireland this group of slightly bohemian, slightly 'Old Money' crowd living in Wicklow some of whom I grew up with. I'm someone who's coming from London and my wife is Korean so I obviously had to get some Korean characters in there. I like the new Ireland, the international Ireland it's a fun atmosphere. I happened to see the polish wedding band playing outside Arnott's on Mary Street and just thought they were great, they're a dream wedding band. The big event in 'Lady Windemere's Fan' is the coming of age ball thrown for Lady Windemere but in the film it is obviously the wedding of Laura and Tiernan were any other events considered? In the first draft of the script the film centred around a 21st birthday but I just felt that there wasn't enough at stake at a birthday party. We needed the extra pressure that comes with a wedding to really get the drama of the story. Speaking of 'extra pressure' the film had a tiny budget of just 400,000 how did you find working with such restricted finances? Painful. Absolutely painful. I explained to the cast and the crew at the start that they should see it as a creative challenge as opposed to an obstacle. But in terms of what we were doing making an ensemble film and shooting it on Red is complete madness. It just gets swallowed up. We had a fantastic crew but you just cannot do too many of these low budget films. You need to look and say "Ok, we only have this much money so what can we do with it?" I think it was ok because we were based in the one spot, if we had to move around I think we would have really felt it. That one location is a magnificent labyrinth esque house with half concealed staircases and large party friendly landings. Was this the sort of house you had in mind when you read the script? It's very interesting; the house is like a character. We had a great location manager Pat Nangle (Kisses) who had been sending me photos of many places and I wanted a house that could, as I said, be in itself a character in the piece and I also wanted that audiences could enjoy the house on its own into which drama and mystery could be easily absorbed. There are so many opportunities for a sort of voyeurism in the house characters can keep an eye on each other without being seen by anyone. The house has a stately, period feel to it but also has very modern aspects because I didn't want anyone or anything to get near to the zone of period drama. And it's huge, so it was just like a set, so we had all the space we needed for cameras and lights which was fantastic. To get down to somewhat more mundane issues, why was the key object changed from a fan to a bag? It could have been anything! There is something about a lady's bag. I suppose Wilde's point is that a fan is quite a banal thing, an object of beauty certainly but still quite archaic, for me. In Wilde's time they worked with a fan but I wanted something equally intimate in today's world and bags fascinate me. How do women carry them around all day?! They contain someone's life and they really are so intimate and that got me thinking about this little red bag that's being passed around, like a little heart. It's a little part of Laura's heart really. A bag just seemed to me like the symbol of a certain kind of feminine beauty. The other side of it is people might start saying "What the hell is he on about, it's just a bag!" and so, at the same time, it is still just a dramatic device too. It plays that little dramatic element in the film, that "Shit, the bag!" moment in the film which is so important. Wilde wrote 'Lady Windemere's Fan', as he did many of his plays, as a comment on society. Is the goal the same when it comes to 'Belonging to Laura'? Well, far be it from me to comment on society! I think there is a satire in there if you wanted it to be like that. His plays obviously have that strong satirical element. And again I'm in no position to talk about Oscar Wilde in any critical way but what I think is missing in some of his plays, how they're performed nowadays in modern versions is heart . . . emotional intimacy. I think it's because the language is so seductive in the plays, wit can often overshadow the intimacy so the ultimate goal, for me, was to make something that had the spirit of Oscar Wilde and real emotional intimacy with depth and feeling. It's a film about the fact that love can throw you a curveball but if you wait long enough you can catch it and it's worth the wait. And you possibly don't get that from the original play you miss the feeling of love slightly because Lord Windemere is more of a father figure to Lady Windemere. Can you tell us a little bit about your new project, 'Pelican Blood'? The way it happened was that we were in post with 'Pelican Blood' when I started prepping 'Belonging to Laura' so it was great because I finished 'Pelican Blood' last June and then came straight over to start shooting 'Laura' and they couldn't be two more different films. 'Pelican Blood' also deals with a troubled relationship, it was very hard to finance because it is the sort of script that everyone loved but no one actually wanted to make. (I seem to be drawn to those sort of projects!). It's a dark love story about two people who meet on a suicide chatroom and they plan to kill themselves together but then they start to fall in love and then we have a conflict where they have to decide if they're going to go ahead and kill themselves regardless or give this newfound love a chance. Men Nike Free Run 4.0 V3 Anthracite Black Any time photographers have subpar lighting conditions, they should consider using an external camera flash or two if possible to add light to their picture. If you are shooting with a Pentax digital camera and are using Pentax dedicated flashes, you can set up two flashes that will fire via a wireless signal. You can also attach those flashes to a light stand and fire them through light boxes for an improved lighting solution. Light boxes are larger tentlike products with a very white front. When used with any light source, they provide an evenly dispersed, softer source of light than a straight flash head. How to Use Pentax Flash With a Softbox Photographers are aware of the harsh reality of direct on camera flash. Bad reflections, poor contrast and inconsistent exposure are the trademarks of.
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