Germany owns no nuclear weapons. It renounced the very idea when it reunified in 1990. But if war were to break out in Europe today, German pilots could clamber into German planes, take off from Büchel Air Base in Rhineland-Palatinate and drop nuclear bombs on Russian troops.
The Luftwaffe can do that thanks to Nato’s nuclear-sharing scheme, under which America quietly stations nuclear bombs across five countries in Europe.
“The forces that have held the current fiat system together now look fragile and they could unravel in the 2020s.”
Deutsche Bank Research:
The forces that have held the current fiat system together now look fragile and they could unravel in the 2020s. If so, that will start to lead to a backlash against fiat money and demand for alternative currencies, such as gold or crypto could soar.
Until now, cryptocurrencies have been additions, rather than substitutes, to the global inventory of money. Over the next decade, this may change. Overcoming regulatory hurdles will broaden their appeal and raise the potential to eventually replace cash.
Eventually, it is possible that inflation will become more and more embedded in our system and doubts will rise about the sustainability of fiat money. The demand for alternative currencies will therefore likely be significantly higher by the time 2030 rolls around. Will fiat currencies survive the policy dilemma that authorities will experience as they try to balance higher yields with record levels of debt? That’s the multi-trillion dollar (or bitcoin) question for the decade ahead.
Konzept: Imagine 2030 [DB, PDF]
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
Happy 10th birthday, Bitcoin!
“A stroll through a modern art gallery shows artistic works whose production requires no more effort or talent than can be mustered by a bored 6-year-old.”
A stroll through a modern art gallery shows artistic works whose production requires no more effort or talent than can be mustered by a bored 6-year-old. Modern artists have replaced craft and long hours of practice with pretentiousness, shock value, indignation, and existential angst as ways to cow audiences into appreciating their art, and often added some pretense to political ideals, usually of the puerile Marxist variety, to pretend-play profundity. To the extent that anything good can be said about modern “art,” it is that it is clever, in the manner of a prank or practical joke. There is nothing beautiful or admirable about the output or the process of most modern art, because it was produced in a matter of hours by lazy talentless hacks who never bothered to practice their craft. Only cheap pretentiousness, obscenity, and shock value attract attention to the naked emperor of modern art, and only long pretentious diatribes shaming others for not understanding the work give it value.
As the Medicis have been replaced with the artistic equivalents of DMV workers, the result is an art world teeming with visually repulsive garbage produced in a matter of minutes by lazy talentless hacks looking for a quick paycheck by scamming the world’s aspirants to artistic class with concocted nonsensical stories about it symbolizing anything more than the utter depravity of the scoundrel pretending to be an artist who made it. Mark Rothko’s “art” took mere hours to produce, but was sold to gullible collectors holding millions of today’s unsound money, clearly solidifying modern art as the most lucrative get‐rich‐quick scam of our age. No talent, hard work, or effort is required on the part of a modern artist, just a straight face and a snobby attitude when recounting to the nouveau riche why the splatter of paint on a canvas is anything more than a hideous thoughtless splatter of paint, and how their inability to understand the work of art unexplained can be easily remedied with a fat check.
“Like Trump, Meciar first rose to power by sidelining rivals in his own party and staging a flurry of media stunts that left his opponents paralyzed and divided.”
To any fair-minded observer, President Trump’s authoritarian instincts, Twitter outbursts and divisive rhetoric should be greatly concerning. Americans might take comfort in the fact that the United States is not the first country to elect and live under such a leader. I would know.
Two and a half years after the fall of communism in 1989, the ruthless and charismatic Vladimir Meciar was elected as prime minister in my home country of Slovakia after a brief previous stint in the office. His larger-than-life personality and bombastic rhetoric filled much of the media space, often with lies and conspiracies. His opponents, many of them former dissidents from the old era, lacked the rhetorical skills, charisma and political acumen to compete.
Meciar’s demise was precipitated by the emergence of an effective opposition that coalesced around the questions that mattered the most: rule of law and Slovakia’s place among European democracies. Like Trump, Meciar first rose to power by sidelining rivals in his own party and staging a flurry of media stunts that left his opponents paralyzed and divided. At the time, Slovakia had a vast array of small, mostly center-right, parties, which differed in the emphasis they placed on economic reforms, family values and environmental protection. Meciar’s power was the greatest when the opposition was divided and mired in debates over irrelevant minutiae.
“A constant supply of news that make us afraid with little to instill trust in one another and in our institutions has always been the best press demagogues can hope for.”
The story that we tell about ourselves is the most important story of all. Journalists and intellectuals who almost exclusively focus on what goes wrong risks us losing our faith in one another, and that faith is the essential foundation without which our ideal of a free and democratic society is impossible. A constant supply of news that make us afraid with little to instill trust in one another and in our institutions has always been the best press demagogues can hope for.
Freedom is impossible without faith in free people, and if we are not aware of our history and produce and demand only the information on what goes wrong, we risk to lose faith in one another.
It might seem that Central Europe, once home to Nazis and Stalinists, is slipping back into totalitarianism. It’s not that simple. People are not voting for the far right because of their fascism. They vote for these parties because they are looking for an alternative to a mainstream that has failed them. Twenty-seven years after the fall of Communism and 12 years after joining the European Union, the promised Western standards of living are nowhere in sight. The post-Communist economic dream has disappointed many. It took 15 years just for living standards to return to where they were before 1989. Poverty is soaring. In Hungary, 35 percent of the population lives below the poverty line.
To prevent the entrenchment of the far right, Central Europe desperately needs a new progressive force with a vision for how to respond to people’s needs. Progressives should have a plan to fend off economic hardship and insecurity to stop people’s legitimate concerns being transferred into bigotry, xenophobia and hatred. If this alternative does not emerge, the consequences will be disastrous.
“Stacked up, the Stasi’s complete files reached 125 miles. They weighed fifty tons per mile; in total, 62,500 tons.”
The Stasi complex on Normannenstrasse in the Lichtenberg district consisted of 41 brown concrete buildings. In addition, the Stasi possessed 1,181 safe houses, 305 vacation homes, 98 sports facilities, and 18,000 apartments for meetings with spies. The Stasi had a budget of 4 billion East German marks. It had 97,000 full-time employees—after the army, it was East Germany’s largest employer. There were 2,171 mail readers, 1,486 phone tappers, and another 8,426 people who monitored phone conversations and radio broadcasts. In addition, there were about 110,000 active unofficial collaborators and perhaps ten times that many occasional informants. The Stasi kept files on 6 million people. There were 39 separate departments—even a department to spy on other Stasi members. A master file with a single card for each Stasi employee, collaborator, and object of surveillance stretches for more than a mile—the cards for people named Müller alone reach a hundred yards. Stacked up, the Stasi’s complete files reached 125 miles. They weighed fifty tons per mile; in total, 62,500 tons.
“This struggle of the human female toward sex equality will end in a new sex order, with the female as superior.”
Nikola Tesla in Colliers magazine, January 1926:
It is clear to any trained observer, and even to the sociologically untrained, that a new attitude toward sex discrimination has come over the world through the centuries, receiving an abrupt stimulus just before and after the World War.
This struggle of the human female toward sex equality will end in a new sex order, with the female as superior. The modern woman, who anticipates in merely superficial phenomena the advancement of her sex, is but a surface symptom of something deeper and more potent fermenting in the bosom of the race.
It is not in the shallow physical imitation of men that women will assert first their equality and later their superiority, but in the awakening of the intellect of women.
Through countless generations, from the very beginning, the social subservience of women resulted naturally in the partial atrophy or at least the hereditary suspension of mental qualities which we now know the female sex to be endowed with no less than men. But the female mind has demonstrated a capacity for all the mental acquirements and achievements of men, and as generations ensue that capacity will be expanded; the average woman will be as well educated as the average man, and then better educated, for the dormant faculties of her brain will be stimulated to an activity that will be all the more intense and powerful because of centuries of repose. Woman will ignore precedent and startle civilization with their progress.
“The current system of airport security all over the world represents an overreaction to the September 11, 2001, hijackings.”
Robert J. Gordon:
The current system of airport security all over the world represents an overreaction to the September 11, 2001, hijackings. There was only one weakness in the U.S. airline security system on September 11, and this was that the cockpit doors were flimsy. Within days, they were replaced by completely secure doors that nobody could break through. Although the security issue was completely solved within a week, fourteen years later billions of dollars per year of passenger time continues to be wasted in unnecessary additional security precautions. The pre-2001 security system, based on a quick walk through an X-ray machine to check for guns and metal weapons, would be enough.