Hundreds of Dutch guys strolling around Amsterdam’s notorious red-light district must have thought they’d hit the jackpot when scantily dressed “prostitutes” in shop windows suddenly broke out in a choreographed dance. The joke — and the public service announcement — was on them, though, when the show concluded with a message about the thousands of women who “are promised a dance career in Western Europe” and instead end up working as prostitutes.The hookers, meanwhile, were actually professional dancers — and the show was produced by Dutch advertising firm Duval Guillaume for the Stop the Traffik anti-exploitation group.
A new era of bad money
As countries continue to create money out of thin air to dodge debt crises, where will this all end? And how can investors prepare?
So how does this end?
I don’t mean the current Spanish debt crisis or even the euro debt crisis. I think we know what the “solution” will be to that.
And I don’t even mean the U.S. debt crisis or the Chinese debt crisis. I think we know what the “solutions” for those will be as well.
But what about the meta crisis? The one that’s been created by the current round of “solutions.” How does that end?
I’d suggest that we all brush up on Gresham’s Law, the 16th-century description of what happens to strong currencies when they meet up with bad money. In a nutshell, Gresham’s Law says that the bad currencies win. Figuring out what to do about that is important as investors head into era of bad money as far as the eye can see.
Creating new money
I think it’s clear by this point in the aftermath of the global financial crisis that all the various local crises have been “solved” to date by the creation of vast sums of money essentially out of thin air on the official balance sheets of central banks such as the Federal Reserve and the European Central Bank and on the unofficial balance sheets of, say, China’s banking system. I think it’s equally clear that, for all the talk about economic reforms creating growth, or austerity creating growth, or financial market confidence creating growth, the most likely “solution” going forward is the continued creation of vast sums of money essentially out of thin air.
Remember the movie this came from? Starred George Clooney among others?
New Yorkers line up for fake Obama Stimulus Cards
Nicolas Cage performs John Cage’s 4’33″.
Watch Out, Best Buy, Ikea Will Soon Sell Their Own HDTV System And It’s Awesome – Cables are hidden and it relies heavily on wireless connectivity.
Exclusive: Tupac Coachella Hologram Creator Tells How He Resurrected Rapper – It took four months to create the hologram of the deceased rapper.
Eight suspects in the United States and elsewhere have been arrested and indicted for their involvement in an online drug market accessible only through the TOR anonymizing network that sold LSD, ecstasy, marijuana and other drugs to some 3,000 customers in 34 countries.
Six of the eight suspects reportedly involved in the Silk Road-like site were nabbed in the U.S. The alleged ringleader, Marc Willems, was arrested Monday morning in the Netherlands. His alleged deputy, a U.S. citizen named Michael Evron who lives in Argentina, was arrested Sunday while attempting to leave Colombia.
Between January 2007 and October 2009, Willems and Evron, who are charged with running the online storefront called “The Farmer’s Market,” processed about 5,256 online orders for drugs that were valued at more than $1 million, according to a 66-page indictment (PDF) released on Monday.
The suspects have all been charged with drug trafficking and money laundering. Some of the suspects have also been charged with distribution of LSD and participation in a continuing criminal enterprise.
Something as simple as going for a brisk stroll could play an important role in fighting depression, according to researchers in Scotland.
Vigorous exercise has already been shown to alleviate symptoms of depression, but the effect of less strenuous activities was unclear.
A study in the journal Mental Health and Physical Activity showed walking had a “large effect” on depression.
One in 10 people may have depression at some point in their lives.