He never left and lives in central Tokyo with his partner.
Gambate Nihon
I have a cousin that never left more than 30yr. ago and raised 3 kids there. I took my daughters there to meet their Japanese cousins. His son married the daughter of a Harley dealer.
My cousin is a private English tutor to wealthy business men, but also dresses as a Catholic priest in full vestments to do the second half of dual Western/Japanese weddings (the Western one is totally fake for show). You need to fully experience some of the strangeness to really appreciate it.
Not unique though, I have an Ocura African ethnic recording that includes music to accompany the stoning of "unclean" women.
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speaking of priestly poseurs -- the 16th C Jesuit missionary Matteo Ricci conducted Passover, Rosh Hashana and Yom Kippur services to the community in China.
interesting summary of what's happening in the markets -- particularly US, Korea and Japan: https://blogs.wsj.com/dailyshot/201...ily-quiet-markets-disrupted-by-fire-and-fury/
This can't happen here, can it ?
EU explores account freezes to prevent runs at failing banks | Reuters
EU explores account freezes to prevent runs at failing banks | Reuters
Yup, I read about it. Must have been terrible for all people (not bankers).
I guess it may be best not to have too much (if any) in the banks these days.
It's actually worse, but my memory failed on the details. Brezil, Musiques du Haut Xingu.
Yakui flutes are forbidden to women and if seen by one while played they are raped and buried alive.
aural joy: musiques de haut xingu
Wow talk about a bad day....
Take a peek at this: Burkina Faso: BOX SET (SF website exclusive) -
SublimeFrequencies
Take a peek at this: Burkina Faso: BOX SET (SF website exclusive) -
SublimeFrequencies
A good TV interview program for DIY-Investors is Consuelo Mack's "Wealthtrack" -- while it's hosted on WLIW in the NY Metro area, you can view the show on WealthTrack. She interviews the best folks like Ed Yardeni, Cliff Assness, Ron Baron, Bill Miller. Much better than CNBC, aka "bubble-vision".
Better late replay then never.
It's not so much the concept that bothers me
it's the fact that we need to be careful who
we have guarding the hen house (as it were).
If people can get away with it, they will, and do.
Beruit...zero inflation.
Yes it used to be the Swiss, but I'm not sure they have any inflation.
Just for clarification here, Banks and various financial instituction
really don't make money out of thin air, they have a capatil requirement.
If I recall it is somewhere around 20%. I think there are two ways the fed
manages monetary expansion....
1. The aforemention capital requirement. - seldom used.
2. The "Discount window" - Used Often (the risk free insterest rate).
After the last financial crisis, I think Dodd/Frank act, had requirements
for capital holding for banks and other financial institutions
and how they could invest, see the following:
Financial Regulatory Reform Bill LINK
Wall St5ree Reform Act Summary LINK
Wall Street Reform and Consumer Protection Act LINK
So the same thing wouldn't happen again. Of course if 30 percent
were required for capital holding, that would allow institutions to
to lend up to 70 percent of deposits. (the number is actually
not correct but for this example okay).
I forgot the formula for growth....
If you have $100 (with 30 percent capital requirement met)
You can lend 100 /.3 = $333.33 (available to loan).
You can lent 100/.2 = $500.00 (available to loan).
As you can see, at the 20 percent level you can loan up to $500.00
which is $166.66 more than at the $333.33 level. That's why the
FED (federal reserve) doesn't like to chance the capital requirements
much. A small change can have a big impact on financial operations.
Now of course the wall streeters' and banker's and complaining because they
can't make enough money...Imagine if you could do this with your $100.00.
Loan up to $500.00 and charge the folks 20 percent of more interest...
...all the while you might have to be paying 1 or 2 percent for your money.
That is clearing more than $90. annually and with that you can grow your
loan portfolio another 90/.2 = $450.
I want to make a card! Where else can you do that legally?
That is just at the loan end.
Imagine what kind of money is sucked up into investment fees etc
that are well hidden...it's even hard to decipher the footnotes of various
investment prospectus (plural) to figure it out.
Even a simple $35. fee for a 401K etc...wtih 1 million people holding them
that's a cool $35 million a year.
I need to re-think this electronic/audio stuff.
Cheers,
It's not so much the concept that bothers me
it's the fact that we need to be careful who
we have guarding the hen house (as it were).
If people can get away with it, they will, and do.
Beruit...zero inflation.
Yes it used to be the Swiss, but I'm not sure they have any inflation.
Just for clarification here, Banks and various financial instituction
really don't make money out of thin air, they have a capatil requirement.
If I recall it is somewhere around 20%. I think there are two ways the fed
manages monetary expansion....
1. The aforemention capital requirement. - seldom used.
2. The "Discount window" - Used Often (the risk free insterest rate).
After the last financial crisis, I think Dodd/Frank act, had requirements
for capital holding for banks and other financial institutions
and how they could invest, see the following:
Financial Regulatory Reform Bill LINK
Wall St5ree Reform Act Summary LINK
Wall Street Reform and Consumer Protection Act LINK
So the same thing wouldn't happen again. Of course if 30 percent
were required for capital holding, that would allow institutions to
to lend up to 70 percent of deposits. (the number is actually
not correct but for this example okay).
I forgot the formula for growth....
If you have $100 (with 30 percent capital requirement met)
You can lend 100 /.3 = $333.33 (available to loan).
You can lent 100/.2 = $500.00 (available to loan).
As you can see, at the 20 percent level you can loan up to $500.00
which is $166.66 more than at the $333.33 level. That's why the
FED (federal reserve) doesn't like to chance the capital requirements
much. A small change can have a big impact on financial operations.
Now of course the wall streeters' and banker's and complaining because they
can't make enough money...Imagine if you could do this with your $100.00.
Loan up to $500.00 and charge the folks 20 percent of more interest...
...all the while you might have to be paying 1 or 2 percent for your money.
That is clearing more than $90. annually and with that you can grow your
loan portfolio another 90/.2 = $450.
I want to make a card! Where else can you do that legally?
That is just at the loan end.
Imagine what kind of money is sucked up into investment fees etc
that are well hidden...it's even hard to decipher the footnotes of various
investment prospectus (plural) to figure it out.
Even a simple $35. fee for a 401K etc...wtih 1 million people holding them
that's a cool $35 million a year.
I need to re-think this electronic/audio stuff.
Cheers,
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Thank you Milton Friedman and Anna Schwartz.
Too bad the discount window wasn't used by Lehman early enough. Used to be that if you couldn't sell a deal, you wouldn't underwrite it. Instead, the wizards of smart at Lehman and Merrill were sating themselves on spread income...and their pommaded mortgage boys were stuffing the goose with dreck.
The mutual fund industry is undergoing a slow hemorrhaging of assets because of the popularity of ETFs. The retail brokerage industry is now dominated by accountants and lawyers. Just ask one to pick a stock .... so with de-regulation you have low commissions and disappearance of research.
Here's a hint -- when a great portfolio manager is on Consuelo Mack's show, reviewed in Barrons or Investor's Business Daily --- go to the Morningstar and get a copy of their portfolio and see what they invest in. (Mack can pick and choose the folks she interviews, no rumballs or touts!).
They've done most of the work. Investigate the companies on your own, listen to the post-earnings conference call.
Too bad the discount window wasn't used by Lehman early enough. Used to be that if you couldn't sell a deal, you wouldn't underwrite it. Instead, the wizards of smart at Lehman and Merrill were sating themselves on spread income...and their pommaded mortgage boys were stuffing the goose with dreck.
The mutual fund industry is undergoing a slow hemorrhaging of assets because of the popularity of ETFs. The retail brokerage industry is now dominated by accountants and lawyers. Just ask one to pick a stock .... so with de-regulation you have low commissions and disappearance of research.
Here's a hint -- when a great portfolio manager is on Consuelo Mack's show, reviewed in Barrons or Investor's Business Daily --- go to the Morningstar and get a copy of their portfolio and see what they invest in. (Mack can pick and choose the folks she interviews, no rumballs or touts!).
They've done most of the work. Investigate the companies on your own, listen to the post-earnings conference call.
Is that really true? I would think that when the bank lends me money, their own balance is depleted by the amount they give to me. Of course they don't lose money either, because I owe them what they just gave away.
It doesn't seem like a creation of anything.
Actually when you think it through, and assuming that the money the bank lend me is money that someone else owes to the bank, the only thing that changes is responsibility for payback for that amount. It now rests with me ;-)
Jan
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BTW I remember investing € 20,000 in a Lehman Brothers guaranteed investment. 100% guaranteed payback in 5 years, 7% per annum interest.
Talking to my agent I asked 'how good is that guarantee'?
Said he: 'Mr. Didden, come on, it's Lehmann! If they fall over, we might as well all go home!'. Well it did happen, 6 months later. I got 10 cents on the dollar from some guy willing to take the chance that anything would still come out of it.
Jan
Talking to my agent I asked 'how good is that guarantee'?
Said he: 'Mr. Didden, come on, it's Lehmann! If they fall over, we might as well all go home!'. Well it did happen, 6 months later. I got 10 cents on the dollar from some guy willing to take the chance that anything would still come out of it.
Jan
Licensed banks are allowed simply to add numbers - to create money - when needed, as it's not backed by anything. It's weird, and probably not a good idea, but it's what is done!
Banks operate on the fractional reserve system, where they only hold a small fraction
of their total deposits (10% or less), and loan the rest.
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