15 Things To Stop Being Scared Of So You Can Be Rich, Happy, And Successful
.15 Things To Stop Being Scared Of So You Can Be Rich, Happy, And Successful
May 11, 2020 By Michelle Schroeder-Gardner
Being scared is a natural reaction, but a lot of good things can and will be scary.
Often, people are scared when things are changing, like if you’re starting a new job, getting married, or any other major life event. It’s only natural to be a little scared about how things will turn out.
You might be scared when you are trying to do something that is difficult, like paying off debt. What if it takes you longer than you had hoped? What about the sacrifices you will have to make?
Being scared happens when you do or try things that are new or outside of your comfort zone, and everyone feels scared from time to time. You may not believe that you cannot achieve what you are setting out to do.
But, you have to push through these negative moments and realize that you are holding yourself back if you want to start overcoming fear and let yourself move forward and do something new.
I have had a lot of fears to overcome to get where I am today. I was scared to quit my job to blog full-time. I was scared to move from our regular house to an RV. I was scared to move onto our sailboat.
Being scared is natural, but if I didn’t address my fears in a positive way, I wouldn’t be living the life I am today.
Everyone is scared of something. However, it’s how you approach that fear that really matters. If you hide from your fear then you may be holding yourself back.
This can then lead to regret later, which often feels worse than being scared.
Whether you are wanting to tackle your debt, you want to leave a job you hate, you want to travel the world, and so on, you need to overcome the fears associated with these goals to live and enjoy the life you want.
15 Things To Stop Being Scared Of So You Can Be Rich, Happy, And Successful
May 11, 2020 By Michelle Schroeder-Gardner
Being scared is a natural reaction, but a lot of good things can and will be scary.
Often, people are scared when things are changing, like if you’re starting a new job, getting married, or any other major life event. It’s only natural to be a little scared about how things will turn out.
You might be scared when you are trying to do something that is difficult, like paying off debt. What if it takes you longer than you had hoped? What about the sacrifices you will have to make?
Being scared happens when you do or try things that are new or outside of your comfort zone, and everyone feels scared from time to time. You may not believe that you cannot achieve what you are setting out to do. But, you have to push through these negative moments and realize that you are holding yourself back if you want to start overcoming fear and let yourself move forward and do something new.
I have had a lot of fears to overcome to get where I am today. I was scared to quit my job to blog full-time. I was scared to move from our regular house to an RV. I was scared to move onto our sailboat. Being scared is natural, but if I didn’t address my fears in a positive way, I wouldn’t be living the life I am today.
Everyone is scared of something. However, it’s how you approach that fear that really matters. If you hide from your fear then you may be holding yourself back. This can then lead to regret later, which often feels worse than being scared. Whether you are wanting to tackle your debt, you want to leave a job you hate, you want to travel the world, and so on, you need to overcome the fears associated with these goals to live and enjoy the life you want.
Below are 15 things you should stop being scared of so that you can learn how to be rich, happy, and successful (or whatever you want to be!).
1. Don’t fear discomfort.
Many of the best things in life are probably going to make you feel uncomfortable. Being scared and staying in your box all the time, while it seems easy, can hold you back in some situations.
I’m a big believer that growth comes from trying things that make you feel uncomfortable! This may mean going on stage to do public speaking, climbing a mountain, selling your home to travel full-time, exercising, making new friends, learning a new skill, and so on. By doing things that make you uncomfortable, you may learn new things about yourself, find something that you love doing, and so on.
2. Stop being scared of what other people think.
If I let the opinions of others stop me from doing things, I would probably be hiding in a closet and never leave my house. This is completely different from how I used to be. Now I don’t care at all about what others think, and I couldn’t be happier. You shouldn’t let the opinions of others affect you. Like I always say “WHO CARES?!“
To continue reading, please go to the original article here:
https://www.makingsenseofcents.com/2020/05/stop-being-scared.html
Why Meaningful Work is an Essential Part of Life
.Why Meaningful Work is an Essential Part of Life
By Matt Spillar · MAY 4, 2020
Last time we talked about some of the lessons I’ve been reflecting on during this coronavirus pandemic. I’ve been trying to use this time for extra reading and learning. The more I learn and grow, the more clear it becomes to me that two essential components to living a fulfilled life are meaningful work and quality relationships. This post will cover meaningful work, and then I’ll cover quality relationships in an upcoming post.
With so many people finding themselves unemployed, those who are still working should be thankful to be in the position they’re in. However, to me it’s important to live a life with intentionality. We are responsible for the decisions we make and the path we choose. Rather than drifting through life we should make choices consciously, that align with our values.
Why Meaningful Work is an Essential Part of Life
By Matt Spillar · MAY 4, 2020
Last time we talked about some of the lessons I’ve been reflecting on during this coronavirus pandemic. I’ve been trying to use this time for extra reading and learning. The more I learn and grow, the more clear it becomes to me that two essential components to living a fulfilled life are meaningful work and quality relationships. This post will cover meaningful work, and then I’ll cover quality relationships in an upcoming post.
With so many people finding themselves unemployed, those who are still working should be thankful to be in the position they’re in. However, to me it’s important to live a life with intentionality. We are responsible for the decisions we make and the path we choose. Rather than drifting through life we should make choices consciously, that align with our values.
What are the components of meaningful work?
In Outliers, Malcolm Gladwell defines meaningful work in this way:
“Those three things – autonomy, complexity, and a connection between effort and reward – are, most people will agree, the three qualities that work has to have if it is to be satisfying.
It’s not how much money we make that ultimately makes us happy between nine and five. It’s whether or not our work fulfills us. Work that fulfills those three criteria is meaningful.”
Gladwell says the three qualities that make up meaningful work are:
Autonomy – the desire to be self-directed, we don’t like others micromanaging us
Complexity – we like to work on challenging problems
Connection between effort and reward – the harder we work, the more acknowledgment we get for our efforts and the better our results are
In Drive, Daniel Pink talks about the three intrinsic motivators we’re all wired with, and it matches up very similarly to Gladwell’s theory:
“It turns out there are three factors that the science shows lead to better performance, not to mention personal satisfaction: autonomy, mastery, and purpose.”
Autonomy – again, we want to be self-directed
Mastery – we want to keep improving in areas that are important to us
Purpose – the sense that what we do is making a difference in the world, beyond ourselves
To continue reading, please go to the original article here:
https://www.spillsspot.com/finance-blog/2020/05/04/meaningful-work-essential-to-life/
Frank26 Video "Pompeo Says Immediately" 6-4-2020
.KTFA:
Frank26: 6-4-20........POMPEO SAYS IMMEDIATELY
This video is in Franks opinion
Some highlights:
We told you that the CBI is ready. We also suggested that the GOI was needed to be ready so it could pass what the CBI has. Which is the Monetary Reform plan……which has been completed.
They are Article 8 and by now it’s pretty obvious. And lately the things we have been hoping for has really been coming out. In the last 4 or 5 days it’s been a meteor shower of statements from the Prime Minister Kazemi. We believe he has the same game plan that the President of the US has……
An article came out today that they would stop the currency auctions. ..Ladies and gentlemen, that was the first step that Donald Trump wanted to accomplish. By doing so….they were not going to use the American dollar anymore. .
KTFA:
Frank26: 6-4-20........POMPEO SAYS IMMEDIATELY
This video is in Franks opinion
Some highlights:
We told you that the CBI is ready. We also suggested that the GOI was needed to be ready so it could pass what the CBI has. Which is the Monetary Reform plan……which has been completed.
They are Article 8 and by now it’s pretty obvious. And lately the things we have been hoping for has really been coming out. In the last 4 or 5 days it’s been a meteor shower of statements from the Prime Minister Kazemi. We believe he has the same game plan that the President of the US has……
An article came out today that they would stop the currency auctions. ..Ladies and gentlemen, that was the first step that Donald Trump wanted to accomplish. By doing so….they were not going to use the American dollar anymore. .
An article came out yesterday saying they were going to pay their salaries….and this time they would be paid in dinars….not American dollars. Why?
Because they stopped the auctions.
Pompeo, as we told you, went over there as a representative of the US as part of what we call “The Fab 4”. (IMF, World Bank, US Treasury, and President Trump.) Today Pompeo said something that was rather powerful. (Frank reads the article posted below)
To recover “Instantly” there is only one way…..there were many articles posted in our forum today….and they were all talking about the fact that they are going raise the value of their currency…they are going to change the exchange rate/value. These are things we have dreamed about.
To see these articles in front of us now is because the monetary reform is really progressing.
The CBI , with the Fab 4 already have the Monetary Reform set. The printing of the currency, The new rate calculated, and recalculated until they found the one they are going to use.
They are not going to float (right away) and they are going to be on par with the American dollar. Articles talk about how the dinar has to be on the same level. By decreasing the Us dollar and raising the dinar-look at what happens- 1 to 1.
Be sure to listen to the replay for all Frank’s news.
Don961: Warmly welcome Al-Kazemi ... Pompeo pledges financial support for Iraq to recover "instantly"
Free – Washington June 04, 2020
Thursday, US Secretary of State Mike Pompeo congratulated Iraqi Prime Minister Mustafa Al-Kazemi for his assumption of the new Iraqi government.
"I would like to begin by warmly welcoming Prime Minister Al-Kazemi and congratulating him on the new Iraqi government and the peaceful transfer of power on behalf of the entire coalition. We are all committed to your success in support of the permanent defeat of ISIS," Pompeo said, according to the State Department statement.
Pompeo also praised during his speech Thursday, at the ministerial meeting of the International Alliance to Combat ISIS, held in the American capital, Washington, on the peaceful transfer of power in Iraq.
"We participate in the financial burden that ensures an immediate Iraqi recovery," Pompeo added, adding that the United States pledged last year $ 100 million to the coalition's main stabilization program in the liberated areas.
The US Secretary of State expressed his aspiration to "deepen the partnership with the people and the Iraqi government, through a series of discussions, especially through the strategic dialogue between Iraq and the United States," which will begin later this month.
Pompeo added that accomplishing the victory over ISIS demonstrates the value of the alliance "and stresses the commitment of the United States to lead its allies and partners towards shared victories."
"But our battle against ISIS will continue in the foreseeable future. We cannot rest. We must continue to get rid of ISIS cells and networks and provide stability assistance to the liberated areas of Iraq and Syria," Pompeo added.
The US Secretary of State referred to the massacre perpetrated by ISIS at the Children's Hospital in Afghanistan last month, as it chose to target mothers who had given birth to lost their babies. link
MilitiaMan: Interesting choice of words. Fairly sure all the things in the news of late support that the USA will be glad to help out and support iraq for trillions or reasons, no burden at all. . I like the way he congratulates him again on his new government... lol ~ MM
. ""We participate in the financial burden that ensures an immediate Iraqi recovery,"...
Five Lessons from History
.Five Lessons from History
May 29, 2019 by Morgan Housel
“The dead outnumber the living fourteen to one, and we ignore the accumulated experience of such a huge majority of mankind at our peril.” – Niall Ferguson on the lessons of history.
“History never repeats itself. Man always does.”– Voltaire
The most important lessons from history are the takeaways that are so broad they can apply to other fields, other eras, and other people. That’s where lessons have leverage and are most likely to apply to your own life.
But those things take some digging to find, often sitting layers below the main story.
The Great Depression began with a stock market crash. October 24th, 1929. That’s the story, at least.
It makes for a good story because it’s a specific event on a specific day. But if you were to go back to October 1929, during the crash, the average American might seem unfazed. Only 2.5% of Americans owned stocks in 1929.
The huge majority of Americans watched in amazement as the market collapsed, and perhaps lost a sense of hope that they, too, might someday cash in on Wall Street. But that was all they lost: a dream. They did not lose any money because they had no money invested.
The real pain came nearly two years later, when the banks started to fail.
Just over 500 U.S. banks failed in 1929. Twenty-three hundred failed in 1931.
Five Lessons from History
May 29, 2019 by Morgan Housel
“The dead outnumber the living fourteen to one, and we ignore the accumulated experience of such a huge majority of mankind at our peril.” – Niall Ferguson on the lessons of history.
“History never repeats itself. Man always does.”– Voltaire
The most important lessons from history are the takeaways that are so broad they can apply to other fields, other eras, and other people. That’s where lessons have leverage and are most likely to apply to your own life.
But those things take some digging to find, often sitting layers below the main story.
The Great Depression began with a stock market crash. October 24th, 1929. That’s the story, at least.
It makes for a good story because it’s a specific event on a specific day. But if you were to go back to October 1929, during the crash, the average American might seem unfazed. Only 2.5% of Americans owned stocks in 1929.
The huge majority of Americans watched in amazement as the market collapsed, and perhaps lost a sense of hope that they, too, might someday cash in on Wall Street. But that was all they lost: a dream. They did not lose any money because they had no money invested.
The real pain came nearly two years later, when the banks started to fail.
Just over 500 U.S. banks failed in 1929. Twenty-three hundred failed in 1931.
When banks fail, people lose their savings. When they lose their savings they stop spending. When they stop spending businesses fail. When businesses fail, banks fail. When banks fail people lose their savings. And so on endlessly.
The stock market crash wasn’t a relevant lesson to the vast majority of Americans who didn’t own stocks in 1929 and likely never would. But the bank failures upended the day-to-day lives of tens of millions of Americans. That’s the real story of how the Depression began.
As we look back at the Depression 90 years later, you might think the main lesson is “don’t let the banks fail.” And it’s a good lesson. But it’s also a lesson that’s not useful to many people today. I’m not a banker or a regulator. So what can I do with a lesson like “don’t let the banks fail?” I don’t know.
And does it even apply to bank regulators in 2019, when things like FDIC insurance now lower the odds of repeating the kind of consumer bank runs we saw in the 1930s? Only a little, I’d say.
The point is that the more specific a lesson of history is, the less relevant it becomes. That doesn’t mean it’s irrelevant. But the most important lessons from history are things that are so fundamental to the behaviors of so many people that they’re likely to apply to you and situations you’ll face in your own lifetime.
Let me offer one of those lessons from the Great Depression. I think it’s one of the most important lessons of history:
Lesson #1: People suffering from sudden, unexpected hardship are likely to adopt views they previously thought unthinkable.
One of the most fascinating parts of the Great Depressions isn’t just that the economy collapsed, but how quickly and dramatically people’s views changed when it did. Americans voted Herbert Hoover into office in 1928 with one of the biggest landslides in history (444 electoral college votes). They voted him out in 1932 with a landslide in the other direction (59 electoral college votes). Then the big changes began. The gold standard, gone. Gold actually became illegal to own. Public works, surged.
To continue reading, please go to the original article here:
https://www.collaborativefund.com/blog/five-lessons-from-history/
Nesara/Gesara-Warning, Don't Get Mislead by Pimpy 6-4-2020
.NESARA / GESARA - Warning! don't get mislead
Pimpy’s Investment chat: Jun 4, 2020
That IMF article is now what you think……..
NESARA / GESARA - Warning! don't get mislead
Pimpy’s Investment chat: Jun 4, 2020
That IMF article is now what you think……..
Other videos in this series…….
NESARA / GESARA - The Global Reset Update 06/03/20 https://www.youtube.com/watch?v=cuS2e1E3QpA
NESARA / GESARA - Truth from Fiction (Election Monitoring) https://www.youtube.com/watch?v=hnBCdrDAUX8
NESARA / GESARA - Truth from Fiction (Establishing a New Government within 120 days) https://www.youtube.com/watch?v=G2JxW0EvQkA
NESARA / GESARA - Truth vs Fiction part 4 (Return Constitutional Law) https://www.youtube.com/watch?v=iwo8dgAiBG8
NESARA / GESARA - Truth from Fiction part 3 (Increase in benefits for senior citizens) https://www.youtube.com/watch?v=wqSRpDk47q4&t=296s
NESARA / GESARA - Truth from Fiction Part 2 (Abolish the IRS and Taxes) https://www.youtube.com/watch?v=thJANxkVE9A
NESARA / GESARA - Truth vs Fiction (debt forgiveness) https://www.youtube.com/watch?v=zoyw6p5mZ1c
NESARA GESARA - Summary (Truth vs Fiction) https://www.youtube.com/watch?v=WpvSk3CXzkg
How to pay for NESARA / GESARA https://www.youtube.com/watch?v=XaLVsfLUyRI
NESARA PART 6 https://www.youtube.com/watch?v=CwJFGYvEO1A
Nesara Part 5 https://www.youtube.com/watch?v=-SQQ4MulJ28
Nesara Part Four https://www.youtube.com/watch?v=KIGQJ-LHw7I
Nesara Part Three https://www.youtube.com/watch?v=yw8ndr6y8oQ&t=291s
Nesara Part Two https://www.youtube.com/watch?v=I0pZ0HfyZa8
Nesara Part one https://www.youtube.com/watch?v=CfHwcF79QpQ
Thursday Night X22 Reports 6-4-2020
.X22 Report
Trump Is Ready To Add The Next Piece To The Economic Puzzle - Episode 2191a
Jun 4, 2020
The economy is moving forward, we see businesses opening, we see real estate picking up, we see the economy coming alive again.
Home sales in Houston spike, the people who were waiting to purchase a house doing it now.
Trump is ready to sign an EO, the EO would expedite the permitting of construction projects despite environmental rules.
X22 Report
Trump Is Ready To Add The Next Piece To The Economic Puzzle - Episode 2191a
Jun 4, 2020
The economy is moving forward, we see businesses opening, we see real estate picking up, we see the economy coming alive again.
Home sales in Houston spike, the people who were waiting to purchase a house doing it now.
Trump is ready to sign an EO, the EO would expedite the permitting of construction projects despite environmental rules.
X22 Report
Terrorists Tracked, Only At The Right Moment Will People Find The Will To Change - Episode 2191b
Jun 4, 2020
The [DS]/MSM is now pushing their agenda, but this new event has failed, Trump and the patriots are in control and they are tracking and monitoring those involved in the latest event.
The pandemic has basically ended, HCQ report has been retracted and now the [DS] is planning their next event.
The people are waking up, the people are now seeing the truth.
X22 Report Spotlight
Fiat Currency Will Be Exposed As Gold Breaks Out: Ross Beaty
Jun 4, 2020
Ross discusses how the economy will take a long time to recover and how gold will break out and fiat currency will eventually be exposed.
News, Rumors and Opinions Thursday PM 6-4-2020
.Courtesy of Dinar Guru:
Jeff ...there's two things they got to do for the rate change. - 7 ministers of the cabinet. - Complete that agreement with Kurdistan and sign off on it.
They're most likely to complete those the same week. The reason why they didn't do it today, it's real simple.
It's because they have a rate change date already set and scheduled. It's done...the last remaining items they're theoretically the linchpin for the rate change.
What they're going to do is finish these items in closer proximity to the timing of the rate change...when you see these items they are confirmation that the rate change is about to happen...you're right on the edge of the rate change.
This rate change is not going into July. It's happening in the second half of June. The date is right in front of your eyes.
Courtesy of Dinar Guru:
Jeff ...there's two things they got to do for the rate change. - 7 ministers of the cabinet. - Complete that agreement with Kurdistan and sign off on it.
They're most likely to complete those the same week. The reason why they didn't do it today, it's real simple.
It's because they have a rate change date already set and scheduled. It's done...the last remaining items they're theoretically the linchpin for the rate change.
What they're going to do is finish these items in closer proximity to the timing of the rate change...when you see these items they are confirmation that the rate change is about to happen...you're right on the edge of the rate change.
This rate change is not going into July. It's happening in the second half of June. The date is right in front of your eyes.
KTFA:
Samson: Member of the Parliamentary Economy: $ 30 billion frozen for corrupt and corrupt in all outlets
4/06/2020 23:55:39
A member of the Parliamentary Economic Committee, Hamid al-Musawi, revealed that there are 30 billion dollars frozen for corruption.
"It is not in our interest to throw the ball of the financial crisis into the government yard, and the absolute authorization of the government to borrow is incorrect and we are not with going to foreign loans and maximizing the financial deficit," Al-Moussawi told Al-Furat News, revealing "the inconsistency of vision between the government and parliament on loans."
He pointed out, "The necessity for the parliament to participate in the government of loans." "As for domestic loans, we have received certain information from a senior government official on the governor of the Central Bank that these loans are not enough for 15 days as salaries for employees, given that they were drained before," Moussawi added.
He continued, "We have 29 sections of non-oil revenues in the ministries that can achieve what is equivalent to oil revenues and more; but the financial management and the amount of corruption and the demands of the political forces on the ministries replaced going money to the pockets of corrupt and brokers instead of the state fund, especially in the Ministry of Trade."
Al-Kalabi confirmed that he submitted all files related to corruption to the Integrity Commission and the Council of Ministers, and no action was taken against them. He pointed out that "Iraq does not need to import oil derivatives," explaining, "The suspended unit of the Al-Dora refinery provides 20 thousand barrels of gasoline per day," noting that "the will of the corrupt people in the Ministry of Oil prevents this because of {commissions"}.
In response to paying the salaries of employees in the Kurdistan region, al-Musawi stressed that "the state in all its joints does not know the number of employees in the Kurdistan region, and therefore can stop paying salaries in the absence of their database in addition to not receiving the agreed quantities of oil and port funds." He added, "Iraqi funds frozen for corrupt abroad up to 30 billion dollars; but we need a political decision and international cooperation and employ international companies with jurisdiction and cooperation to recover these smuggled funds," revealing "750 thousand people who live outside Iraq receive salaries from the state."
Moussawi concluded his speech by saying : "The government needs to work the civil service law and within the salary scale to regulate the salaries of employees in all institutions, while the salaries of employees requires the deduction of law". LINK
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Samson: Monetary Fund: Countries that may need debt restructuring, not just debt freezing
4th June, 2020
Some of the world's poorest countries and emerging market countries may need to restructure their debt in the future, the Executive Director of the International Monetary Fund said on Wednesday, adding that only freezing debt payments may not be enough.
Kristalina Georgieva added that some emerging economies that have adopted prudent and sustainable debt policies are passing through the Corona virus crisis better than others, but a small number of countries with high debt burdens are likely to need assistance in the future.
Georgieva said the International Monetary Fund (IMF) has disbursed about $ 260 billion of its one trillion dollar capacity at this stage, and has so far provided emergency funding to 63 of 189 countries that have requested assistance since early March.
Don961: Dollars are running out of Hong Kong ATMs, amid financial buying and terror
- 4 Hours Ago
Perhaps the rich island of Hong Kong will become a "precious chess" piece in the ongoing Cold War conflict between Beijing and Washington, a prospect that threatens the island's position as a global financial center, as well as the emigration of the rich and technical and financial expertise from the island.
Since the United States announced that it will abolish the preferential treatment it accords in Hong Kong tariffs, the buying fever of US dollars has risen to its fullest on the island. There are long lines in front of money changer shops to convert the local currency or “Hong Kong dollar” into US dollars, while these stores do not find enough amounts of American currency to meet the demands of customers, according to the local newspaper “Sing Tao” in Hong Kong.
Hong Kong residents fear that the new Chinese security law will tighten the Chinese government's grip on the island and possibly end the island's autonomy status over the Chinese mainland. They are concerns expressed by many western companies with headquarters in Hong Kong.
Last Friday, US President Donald Trump considered that Hong Kong was "no longer sufficiently autonomous to justify the special treatment" granted by Washington, announcing that he had instructed his administration to begin canceling trade exemptions granted to it.
In London, on Monday seven former foreign ministers called on British Prime Minister Boris Johnson to form an international alliance to confront Beijing over Hong Kong's developments.
For his part, US Secretary of State Mike Pompeo told Congress that Beijing stripped Hong Kong of its autonomy.
According to a report in the local newspaper "Sung Tao" in Hong Kong, many exchange offices said during the weekend that the US dollars that have run out due to the high demand for the green paper, and there are not enough exchange machines on the island that give their customers the right to withdraw the dollar American.
The British bank HSBC, the island’s largest bank, has only 33 withdrawals that grant the right to withdraw in dollars.
Hong Kong monetary authorities have not yet released information about the amount of money that has fled the island since the unrest began last summer, but Western reports indicate that many wealthy people have transferred part of their money to banks in Singapore and western centers in London and Zurich, and may be These amounts have reached tens of billions since last June.
The island’s wealthy and many residents fear that Hong Kong dollars will be de-linked with the US dollar, and this will lead to the loss of part of their wealth due to the devaluation of the local currency or “Hong Kong dollar”.
The Hong Kong dollar has been pegged since 1983 to the US dollar, within a calculated oscillation margin between 7.75 and 7.85 against the US dollar.
Analysts say the end of preferential trade treatment for Hong Kong's exports to the United States is the start of western companies fleeing the island's commercial center. This will automatically mean the loss of jobs and purchasing power on the island, and the recession of restaurants, cafes and nightclubs that have been suffering for months from the Corona pandemic.
The island's monetary authorities are seeking to reassure citizens about the exchange rate peg between the local currency and the US dollar, as they said at the end of the week that "linking the local currency to the dollar is one of the pillars of monetary policy and Hong Kong will not abandon it."
While the monetary authorities said in another message addressed to the long rows crowded in front of exchange shops and companies, that the island's central bank has sufficient dollar balances and that its balance in foreign currencies amounts to 440 billion dollars.
For its part, the Chinese government is working to threaten banks, businesses and businesses that do not support the new Chinese security measures on the island.
In this regard, the former Chinese official in Hong Kong, Leung Cheng Ying, wrote on his Facebook page, calling for the punishment of the British HSBC bank, because he did not support the new Chinese measures. "HSBC did not support the Chinese measures ... and it can be replaced on the mainland in one night with alternative banks from China and foreign countries," Ying said on Friday.
New Arab LINK
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Iraqi Dinar News 06/04/20 Dinar rate change
Pimpy’s Investment Chat: Jun 4, 2020
"No More Currency Auctions" Delta, Militiaman and KTFA Members 6-4-2020
.KTFA:
Samson: After Coming Under Heavy Criticism ... The Central Bank Stops The Currency Auction
4th June, 2020
An informed source confirmed that the Central Bank of Iraq management has finally decided to stop the auction of foreign currencies after the Iraqi economy was subjected to severe setbacks due to the Corona pandemic and the drop in oil prices to record levels, and the Central Bank followed a failed monetary policy.
The source, who spoke on condition of anonymity, said to Al-Mustaqila that the central bank governor has been subjected to great pressure in the past few days by many political blocs, the media and economists because of his unjustified insistence to proceed with the foreign currency auction window despite all the losses and risks incurred by the economy Iraqi.
KTFA:
Samson: After Coming Under Heavy Criticism ... The Central Bank Stops The Currency Auction
4th June, 2020
An informed source confirmed that the Central Bank of Iraq management has finally decided to stop the auction of foreign currencies after the Iraqi economy was subjected to severe setbacks due to the Corona pandemic and the drop in oil prices to record levels, and the Central Bank followed a failed monetary policy.
The source, who spoke on condition of anonymity, said to Al-Mustaqila that the central bank governor has been subjected to great pressure in the past few days by many political blocs, the media and economists because of his unjustified insistence to proceed with the foreign currency auction window despite all the losses and risks incurred by the economy Iraqi.
The data published on the website of the Central Bank indicates that the last date for which a currency auction was held was on Thursday, 21/5/2020, when more than $ 180 million was purchased with the participation of more than 30 banks at the auction.
Below is the link for the results of the foreign currency sale window https://cbi.iq/currency_auction/all
DELTA: STOPPING AUCTION....WHERE AND WHEN DID WE HEAR THAT?...........KTFA TEAM YOU ROCK..
LarryH: There we go. In Black and White. Talking about Tic Tok. We have it NOW.
JJimmyJJ: Sooo, the Central Bank has stopped the currency auction. The thing that all of us have been looking for since we first invested has finally happened--officially, in print!
Because this is so momentous, let us review what this means:
* Iraq, by international law and international sanctions, can not use their currency to make international payments unless and until they are Article 8.
* To get around this, they established the US currency auction to allow businesses to exchange dinar for dollars to pay for imports (and to get paid for exports).
* Last year, Iraq stopped allowing the US dollar to be used inside Iraq. They must conduct commerce in Iraqi dinar.
* Thus, as of now, Iraq has no way for private businesses to gain access to hard currency (US dollars) for international commerce. Iraqi's abroad have no way to send money back to family members.
* Officially, Iraq is now cut off from the international economy.
UNLESS,
They were already Article 8 (and just hadn't publically announced it yet). Since Frank has been yelling this from the rooftops for a year, and we trust him, let's assume that Iraq has already accepted the demands of Article 8.
Assuming that is the case, why did Iraq just take this public step (after a year of privately conducting business under Article 8) that seems to effectively announce that Iraq is cut off from the world?
BECAUSE, (IMO) THEY ARE GOING TO PUBLICALLY ANNOUNCE THAT THEY ARE ARTICLE 8.
And, once they do that, as part of Article 8 obligations (as Delta has told us many times), they can't leave their currency at a program rate. They have to play by the rules at that point.
This, IMO, is the smoking gun of all smoking guns. Everything is now over but the shouting.
Will: Thank you for this break down. This is a doozy. Let's see what the brokers start doing. They'd be crazy to continue selling at a program rate if this is about to flip.
MilitiaMan: By George I think you have it.. lol ~ MM
Now add in the meeting with Alak and the President on financial ongoing's. Then think about the upcoming meetings to vote on Cabinet, then add in the ISX is "" scheduled to open again on Sunday., then there is the SFA for the 10th - 11th. All the talk about the borders, taxes & tarrifs, fees all being electronic, the contracts adjusting for shipping costs by 07/01/2020 need to be in place by then. Those things need an international rate and pronto!! The convergence is astonishing! imo .. ~ MM
—————-
The media office of the Presidency of the Republic, in a statement received by "Gilgamesh Press", said that "Barham Salih received at the Palace of Baghdad, the Governor of the Central Bank of Iraq, Ali Mohsen Ismail al-Alaq
"The President of the Republic stressed "the importance of following rational financial policies that would achieve the supreme national interest and assist Iraq in overcoming the current crisis and achieving economic stability for citizens" LINK
The President of the Republic emphasizes adopting a balanced monetary policy and working to strengthen the financial situation
JJimmyJJ: Amen, brother. The difference between today and the preceding years is astounding. Before, you'd follow a juicy piece of evidence, but then it would just fade away--nothing would happen with it. Now, those juicy pieces are intertwined with more pieces of evidence, which reinforce still more pieces of intel. If you think of those strands of evidence like blasting cord in a building to be imploded, whereas before all those cords were laying by themselves, now they're all interconnected, and they're all attached to the detonator.
MilitiaMan: Yes Sir, AMEN... There is no stopping this now from the looks of it. All has been coming together and shows that all the years of work, now are aligned and ready to go international.. They have published time lines for contractual issues, that will have to be adhered to. I am smiling!!
Warmly welcome Al-Kazemi ... Pompeo pledges financial support for Iraq to recover "instantly" link
MilitiaMan: Interesting choice of words. Fairly sure all the things in the news of late support that the USA will be glad to help out and support iraq for trillions or reasons, no burden at all. . I like the way he congratulates him again on his new government... lol ~ MM
DELTA: IT'S COMING ........GREAT ARTICLE.........
************
Don961: With documents .. Al-Fayyad directs the crowd formations to abandon partisan work and close the headquarters inside the cities
Policy 04/06/2020 10:24 2518 Editor: ha
Baghdad today - Baghdad
The head of the Popular Mobilization Authority, Faleh al-Fayyad, issued generals to all cooperatives, directorates, and formations, including 10 paragraphs, the most prominent of which are the closure of brigade headquarters and cohorts within cities and the abandonment of partisan work.
According to the documents obtained by (Baghdad Today), the cousins include the decision to commit to dismantling any political and non-political ties to the formations of the commission, and to give up all the names that the PMF had previously worked in its battles against ISIS. LINK
MilitiaMan: Looks like it is a STAND DOWN now message!! WOW... This is security at it's finest. The timing of this is no coincidence. Even within moments effectively ago. Pompeo is telling Iraq that we will support you instantly.. Then this? Nice! Perfect timing before the SFA meeting.. WOW~ ~MM
DELTA: FROM IRAQI TV...."Trends towards changing the policy of the dollar and the exchange rate"
DELTA: GREAT JOB DON.........I DID REPORT TO YOU FAMILY LAST WEEK THAT CBI IS COMING OUT WITH NEW RATE....WE ARE FASTER THAN ARTICLE.........(smile)
Don961: Conscious / reduce the Iraqi dinar exchange rate ... punish people
d. Hussein al-Asadi June 3, 2020
Iraq is going through extremely sensitive conditions, as the Iraqi economy faces a real challenge after the catastrophic failure to find alternatives to selling crude oil. I confirm here the sale of crude oil and not the oil refining industry and the petrochemical industry.
Iraq is one of the largest oil reserves in the world, as it has 147.2 billion Barrel according to explorations in 2018, or 8.5% of the balance's global reserves - - and yet he annually imports 3.3 trillion Iraqi dinars in oil products - the annual report of importing Iraq 2018, the Central Statistical Organization 2019 - and he imports energy worth 7 trillion Iraqi dinars - the 2019 budget Iraqi facts: Issue 4529 on 11/11/2019 - all of which can be produced in Iraq, as well as other resources such as agriculture, various industries, trade, tourism, etc.,
With no Sovereign Wealth Fund that provides additional imports and a portfolio to protect the future of generations, especially in times of crisis, Iraq today Asking for aid to pay the salaries of employees and retirees is that what enters the treasury is not equal to a quarter of what Iraq needs to cover salaries only.
The financial budget for the year 2019 was allocated to the salaries of retired civilians and the military (9,316,652,417,000) Iraqi dinars, and the salaries of employees equal (43,404,629,267,000) Iraqi dinars For the year 2019, the amount is (52,721,281,684,000) Iraqi dinars, which means that Iraq needs monthly (4,393,440,140,000) Iraqi dinars, and if we take into consideration that the Iraqi dinar exchange is 1,200 dinars per dollar, it means that Iraq needs monthly to (3,660,000,000) approximately one dollar, while the GDP of Iraq is approximately (1,100,000,000) dollars for the month of March and (1,200,000,000) dollars approximately for the coming months, as Iraq needs (2.5) billion dollars approximately per month to cover monthly salary expenses only, this is regardless of other needs,
And to address This catastrophic failure began to raise some voices in order to reduce the Iraqi dinar exchange rate against the US dollar in order to increase the budget number and reduce the deficit in it, and I find it necessary to clarify some of the terms, so the reader may be surprised by the ignorance of many of those who speak in this field, and perhaps they are among those in important positions of responsibility.
Floating Exchange Rate:
A floating currency is the rate of currency that has floated so that it has become fully liberalized, so the government or the central bank does not interfere in determining it directly, but it is automatically generated in the currency market through the Supply And Demand mechanism that allows By setting the exchange rate of the national currency against foreign currencies, this term corresponds to the fixed price of the currency exchange
Fixed Exchange Rate:
A specific price will be set against a major global currency (usually the US dollar, but also other major currencies such as the euro, yen, or basket of currencies), in order to maintain On the local exchange rate, the central bank buys and sells its own currency on the foreign exchange market for the currency in which it is linked.
Devaluation:
is the devaluation of the official exchange rate of this currency against an international reference currency (the US dollar or the euro, for example), so that the number of units of foreign currency that can be obtained against one unit of the national currency is low, and it is correct to talk about devaluation when it is The exchange rate is subject to the direct management of the government or the central bank, which determines this price through a government decision,
and according to the same logic, it is possible to talk about raising the price of the currency Revaluation in exchange for reducing it, and this is when the exchange rate is subject to the direct management of the government or the central bank as well, and we note that the reduction The price of the currency and its elevation are within one framework which is the fixed exchange of the currency,
but when the exchange rate is subject to the forces of supply and demand (floating the currency) and there is a decline in the value of this currency, depreciation of the currency, the decline is an automatic result of the free interaction between supply and demand in the foreign exchange market without interference Direct from the government or the central bank, according to For the same logic, we can talk about the rise in the value of the currency Appreciation versus its decline, and we note that the rise and fall of the currency price within the currency float.
Since Iraq works within the fixed fixed rate system, we can talk about reducing and raising the exchange rate of the currency, and here I do not want to differentiate between the two systems, each of them has its conditions despite the market economy and its idea that the state should not interfere in economic activities and let the market control itself
It operates a system of floating the currency and its price depends on the iron principle of supply and demand, but the actual conditions of Iraq do not allow for reasons that are too long to be explained.
Countries with a fixed exchange rate resort to reducing the currency exchange rate for economic reasons to improve their balance of trade mainly due to an increase in domestic production versus the importer. The currency reduction makes the difference between the outside and the inside and reduces the importer in front of the exporter, and this assumes that there is internal production It covers the local need and wants to preserve it and export it abroad, but in the Iraqi case, unfortunately, there is no industry, no agriculture, no internal production, it covers the local need as well as being an exporter, as Iraq has nothing to export other than Crude Oil, and I speak here As for the reality of what is there and not what I am calling for, the total imports for the year 2018 for commodities and petroleum products amounted to (37) billion dollars, equivalent to (43.8) trillion Iraqi dinars, and the total imports for the year 2018 for the non-oil commodities (34.1 dollars), i.e. Equivalent (40.5) One trillion Iraqi dinars, and Iraq has no need to reduce the exchange rate, but it is sufficient for it to prevent the import of any material that can be dispensed with.
As for the real effect of the devaluation, it is the direct punishment for the Iraqi people, if we know that 6 million Iraqis receive a salary or aid from the Iraqi government and the number of individuals The Iraqi family is 5 people, we are talking about about 30 million Iraqis who live on what they receive from salaries or aid from the Iraqi government, all of these will be affected by this procedure, because inflation occurs.
Inflation in prices is due to the low purchasing power of the Iraqi dinar, so the family that could have lived in a million dinars An Iraqi after the currency devaluation has become worth 500 thousand dinars, and if she receives a number that is a million, therefore she will live in great distress due to this reduction,
and the other affected are the owners of internal debts in the local currency, which amount to about 40 trillion dinars, which represent treasury transfers and debits with banks The government and the central bank for companies, contractors, and merchants, and if they are a number, it will remain that the Iraqi government owes them to 40 trillion, but after the devaluation they will owe 20 trillion on the assumption that it has been cut in half.
As for the external debtor, it remains the same because in foreign currency the dollar or the like.
Another issue remains here is the confidence of investors and companies in the currency after the devaluation is much less because the stability of the currency is one of the factors that encourage investment and entry in projects as well as problems related to economic feasibility after the devaluation, which is the basis of the intervention of the government or the central bank in fixing the exchange rate or only for work The principle of floating currency from the beginning.
Hence, we believe that those who seek to actually depreciate the currency are punishing the Iraqi people because of the wrong policies and economic failure that brought the country to this situation, as the people in this bear the mistakes of politicians and are punished instead of them. LINK
It Turns Out You -Can- Spot A Bad Apple. You Just Can’t Remove One
.It Turns Out You -Can- Spot A Bad Apple. You Just Can’t Remove One
Notes From The Field By Simon Black June 4, 2020 Bahia Beach, Puerto Rico
So it turns out that Derek Chauvin, the former Minneapolis police officer who was filmed murdering George Floyd last week, had 17 different complaints of serious misconduct during his career.
That puts him among the 10% worst offenders in the Minneapolis police department.
The complaints vary from being named in a brutality lawsuit, to using demeaning, unprofessional language in public, to aiming his weapon at children. But Chauvin never got into any serious trouble.
On Monday I wrote that civilians have filed 2,600 misconduct complaints against Minneapolis police officers over the past several years. Only 12 of them (0.46%) resulted in any discipline against the officer, with the most severe punishment being a 1-week suspension.
It Turns Out You -Can- Spot A Bad Apple. You Just Can’t Remove One
Notes From The Field By Simon Black June 4, 2020 Bahia Beach, Puerto Rico
So it turns out that Derek Chauvin, the former Minneapolis police officer who was filmed murdering George Floyd last week, had 17 different complaints of serious misconduct during his career.
That puts him among the 10% worst offenders in the Minneapolis police department.
The complaints vary from being named in a brutality lawsuit, to using demeaning, unprofessional language in public, to aiming his weapon at children. But Chauvin never got into any serious trouble.
On Monday I wrote that civilians have filed 2,600 misconduct complaints against Minneapolis police officers over the past several years. Only 12 of them (0.46%) resulted in any discipline against the officer, with the most severe punishment being a 1-week suspension.
It’s not just Minneapolis. Around the country, the percentage of civilian complaints that result in disciplinary action is astonishingly low. And the rate at which offending officers are severely disciplined, fired, or charged with a crime, is effectively zero.
A 2019 academic paper studied 50,000 civilian complaints against Chicago police to see if those complaints could be an indicator of who is/isn’t a bad apple.
The results were obvious: officers with the most complaints have the highest likelihood of being involved in a major civil rights issue. But they’re seldom removed.
The Chicago police officer who shot an unarmed 17-year old boy in 2014, for example, was among the department’s worst 3% in terms of civilian complaints, with half of the complaints alleging excessive force.
So it turns out you can spot a bad apple. You just can’t remove them… and give the boot to people like Chauvin who pose obvious risks.
There are plenty of good, duty-minded cops who would love to kick out the bad ones. But the system fails everyone miserably. One key reason is a legal doctrine known as “qualified immunity”.
This goes back to a 1967 Supreme Court case which ruled that government officials should be shielded from personal liability while carrying out their duties. This applies to police officers as well.
So in other words, you can’t sue the cops if they assault you during arrest, or invade of your home, because they’re technically performing their official duties.
The Supreme Court did make allowances, i.e. police and government agents would not be protected by qualified immunity if their actions violate “clearly established law or constitutional rights.”
But this is very difficult to prove.
Over the years as civilian victims have attempted to sue police officers for misconduct, courts have routinely sided with the cops. The argument is that whatever laws the police officers violated were not ‘clearly established,’ and hence the cops are protected by qualified immunity.
Here’s one absurd example:
In 2013, Fresno police officers raided a home that was suspected to be involved in a gambling operation. They seized $275,000, but only booked $50,000 as evidence.
The other $225,000 mysteriously disappeared.
The suspects sued, and amazingly, the court ruled that “there was no clearly established law holding that officers violate [the Constitution] when they steal property seized pursuant to a warrant. . .” and therefore the officers were protected by qualified immunity.
Yes, you did read that correctly. And even the Supreme Court now recognizes that qualified immunity has gone too far.
In a 2018 case, Justice Sonia Sotomayor wrote that qualified immunity is “an absolute shield for law enforcement officers, gutting the deterrent effect of the Fourth Amendment. . . it tells officers that they can shoot first and think later, and it tells the public that palpably unreasonable conduct will go unpunished.”
Justice Clarence Thomas also voiced “growing concern with our qualified immunity jurisprudence” in a 2017 opinion.
As long as qualified immunity lasts, it will continue to be abused.
Representative Justin Amash from Michigan announced a new bill, the “Ending Qualified Immunity Act”, this week. We’ll see what happens.
Another major reason why the system fails is because of the unions.
Police unions exist (in theory) to protect their officers. Like any union, they negotiate wages, working conditions, etc. But as always, union interference goes way too far.
For example, police unions negotiate contracts with city governments that expressly prohibit officers’ careers from being blemished by civilian complaints.
Obviously there are always going fake or overblown complaints against officers. But union rules require complaints to go through a highly bureaucratic investigation process that’s closely monitored by the union.
So the unions protect their officers from scrutiny. And in the unlikely event that a complaint is sustained (0.46% in the city of Minneapolis), the unions protect their officers from any serious punishment.
In New York City, nearly 20% of the contract negotiated between the police union and the city government is devoted to disciplinary procedures and grievances.
Section 8 of Article XVI, for example, allows an officer to have his/her disciplinary record expunged under certain circumstances. And Article XXI provides several pages of lengthy protections for an officer who has been accused of misconduct.
This is why officers, even when they’re caught on film committing a crime, are often ‘suspended with pay’, never face trial, and only end up with a slap on the wrist (which can later be expunged).
In Baltimore and Cleveland, union contracts require the deletion of most disciplinary records.
Unions also ensure that officers who are disciplined have a multitude of options to have the ruling against them overturned. This hassle makes it incredibly difficult to weed out troublemakers.
And just in case the end result wasn’t completely obvious, economist Rob Gillezeau of the University of Victoria has studied the relationship between police unionization and civilian killings.
According to his analysis, there’s an overwhelming increase in civilian shooting deaths once a local police department unionizes.
This is pretty ironic when you think about it: Bolshevik politicians LOVE unions. But this is an obvious example of how unions can be destructive and literally end up killing people.
To your freedom & prosperity, Simon Black, Founder, SovereignMan.com
Ben Fulford and Robert David Steel Unleashed..Gold Standard, Reset, Trump Announcements coming?
.Benjamin Fulford Unleashed! Gold Standard Currency Reset, Trump Announcement Coming?
Robert David Steele: Jun 3, 2020
BF: We were contacted by a group called The Golden Dragon…..Supposedly next week we are having a meeting. The idea is that unlimited funding will be made available but we have to have an agreement from the Federal Reserve board which I believe is owned now by the US treasury..
So from the Asian side they want to make unlimited funding available but there has to be some fundemantal Western agreement to go ahead.
RDS: My sources tell me the deal has already been cut between Ji, and Trump and Putin and the money is moving this week .
BF: I think we are close.
RDS: I received a text today from my Trump source who basically said it’s on for Monday.
Benjamin Fulford Unleashed! Gold Standard Currency Reset, Trump Announcement Coming?
Robert David Steele: Jun 3, 2020
BF: We were contacted by a group called The Golden Dragon…..Supposedly next week we are having a meeting. The idea is that unlimited funding will be made available but we have to have an agreement from the Federal Reserve board which I believe is owned now by the US treasury..
So from the Asian side they want to make unlimited funding available but there has to be some fundemantal Western agreement to go ahead.
RDS: My sources tell me the deal has already been cut between Ji, and Trump and Putin and the money is moving this week .
BF: I think we are close.
RDS: I received a text today from my Trump source who basically said it’s on for Monday.
RDS: I Believe Trump is getting ready to make some big economic announcements. I wouldn’t be surprised if he were to announce an Asset backed currency in June.
RDS: The Attorney General just called out George Soros for sedition…. I think we are about to see some arrests and a better use of the National Security Agency .
BF: The Khazarian mafia have failed in their terrorist insurrection and have now revealed their network …they really blew it.
RDS: The NSA have every phone call, record, email from these people and Presedent Trump needs to get these in front of the public domain.
BF: Back to what I said in the beginning…..the world is waiting for the current system to implode….With the Dragon family….if we can get an agreement, they will release unlimited funds for main stream as long as its connected to things that really exist. .
RDS: This is the Nesara/ Gesara thing?
BF…No – if the east is involved….they have the physical infrastructures and factories ….it’s not just numbers on computers……they are willing to come in and help the US rebuild their infrastructure and industrial base. …They don’t want t do this though if there is a corrupt regime.
RDS: I don’t want the Chinese building local factories in the US
BF: if would be Americans building local factories in the US….but they would be getting help like having machine tools brought in from other parts of the world…things like that. …It would not be a Chinese run thing…..It would be a Western run thing with some help. Competent, un-corrupt- Main street type people……not the Khazarian financial crooks who hijacked your system and your country and turned it into the hell hole it is right now.
RDS: I work with some people….We have identified 200 trillion dollars in stolen assets. …half in naked short selling and half in money laundering… . What this means is that the president can use a series of powers including the civil and criminal forfeiture as well as his war powers to confiscate 200 trillion dollars worth of value and move that money to main street to the rural areas and creating factories.
BF: You need to set up some kind of economic reconstruction commission of competent people to set up a coherent plan ….then the rest of the world will come in and help any way they can for an American led….American run-rebuilding thing…..That is why this Golden Dragon thing will give unlimited funds…..but only if the Americans will be 50-50 partners on this. .
BF: I’ll know more next week…..I have a meeting with senior European royals who supposedly run the Quantum Financial system….and people above Ji Jing Ping on the Asian side. I would like to see this happen for the sake of the planet.
RDS: Should I post this video or keep it private?
BF : Go ahead and post it….if it doesn’t happen, well, it doesn’t happen…but by letting people know what’s going on we may get more support for this plan. Just being realistic.
BF: One more thing…..6-11 is like a reverse 9-11. So everybody try to do an anti 9-11 on 6-11. Do good stuff……..maybe arresting people and putting them in jail???? Maybe take everyone known to be associated with 9-11…put them in handcuffs in front of the world…..the US military could easly do this.
RDS: We will end with that.
https://www.youtube.com/watch?v=AbuEVzLFl8c&feature=youtu.be&t=2
You Have To Live It To Believe It
.You Have To Live It To Believe It
Apr 9, 2019 by Morgan Housel
Richard Held and Alan Hein raised 20 kittens in pitch black darkness. Which is the kind of thing you should only do if it’s necessary to prove a point critical to understanding how the world works. Thankfully they did just that.
The two MIT cognitive scientists, working in the 1960s, showed that seeing the world around you was not enough to understand how it works. You had to actually experience that world to learn how to operate in it.
The scientists raised cats in total darkness to control the relationship between seeing and learning. Once a pair of kittens were old enough to walk, they were placed in a lighted box for three hours a day.
In the box was a kind of carousel, with each kitten placed in a harness. One of the cat’s legs reached the floor, and its walking movements made the carousel move in a circle. The other cat’s legs were restrained by the harness. It could see everything going on – the movement, the other cat walking around in circles – but its legs never touched the floor. It had no active control over the carousel.
You Have To Live It To Believe It
Apr 9, 2019 by Morgan Housel
Richard Held and Alan Hein raised 20 kittens in pitch black darkness. Which is the kind of thing you should only do if it’s necessary to prove a point critical to understanding how the world works. Thankfully they did just that. The two MIT cognitive scientists, working in the 1960s, showed that seeing the world around you was not enough to understand how it works. You had to actually experience that world to learn how to operate in it.
The scientists raised cats in total darkness to control the relationship between seeing and learning. Once a pair of kittens were old enough to walk, they were placed in a lighted box for three hours a day.
In the box was a kind of carousel, with each kitten placed in a harness. One of the cat’s legs reached the floor, and its walking movements made the carousel move in a circle. The other cat’s legs were restrained by the harness. It could see everything going on – the movement, the other cat walking around in circles – but its legs never touched the floor. It had no active control over the carousel.
After eight weeks of daily carousel walks the cats were brought into the real light-filled world to test what they had learned. They were tested to see if they’d automatically place their paws on a surface they were about to be set down upon. And if they’d avoid a steep ledge, walking around to a gradual ramp instead. And whether they’d blink when an object was quickly brought close to their face. The results were extraordinary. 100% of the cats whose legs had control over the carousel’s movements tested normal. The cats who only watched, but never controlled, the carousel were functionally blind.
They bounded towards the steep ledge and fell straight off. They didn’t put their paws out to land on a surface. They didn’t blink when an object accelerated toward their face. It wasn’t that they couldn’t operate their bodies – they learned to do that in the dark room they were raised in. But they couldn’t associate visual objects with what their bodies were supposed to do.
The two cats grew up seeing the same thing. But one experienced the real world while the other merely saw it. The result was that one was normal; the other was effectively blind.
One of the most important topics in business and investing is whether all of us are, in some ways, like these blind cats.
Sure, we’ve read about the Great Depression. But most of us didn’t live through it. So can we actually learn lessons from it that make us better with our money?
Sure, we all know about the 2000 dot-com bust. But many – maybe most – investors and founders weren’t active back then. So do they actually understand the power of bubbles as well as those who did live through it?
My generation, the millennials, has never experienced significant inflation. We can read about gasoline lines of the 1970s and 15% mortgage rates in the 1980s. But am I as concerned about monetary policy as the Baby Boomer who does remember those things? And is the Baby Boomer as concerned as the Venezuelan who’s experienced hyperinflation? The answer to these questions is – at best – maybe.
I say it’s one of the most important topics because it affects everyone. What I’ve experienced as an investor is different from what you’ve experienced, even if we’re from the same generation. And the generation and country you’re born into, the values instilled in you by your parents, and the serendipitous paths we all wander down are out of our control.
Investor Michael Batnick says, “some lessons have to be experienced before they can be understood.” We are all victims, in different ways, to that truth.
This report digs into the effect difference experiences we’ve had have on our ability to make smart decisions about business and investing risk.
Part 1: Blind Spots
Two events shaped the 20th century: The Great Depression and World War II.
To continue reading, please go to the original article here:
(A lengthy read but very intelligent - informative and interesting )
https://www.collaborativefund.com/blog/you-have-to-live-it-to-believe-it/