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Why Owning Gold is Absolutely Essential - Charles Ponzi Meets Cassandra | GE Christenson | Safehaven.com

Why Owning Gold is Absolutely Essential - Charles Ponzi Meets Cassandra | GE Christenson | Safehaven.com | Gold and What Moves it. | Scoop.it

"I willingly accept Cassandra's fate
To speak the truth, although believed too late."

~ Anne Killigrew

One fine day on the streets of Washington D.C. the ghost of Charles Ponzi struck up a conversation with the ghost of Cassandra. He was a charming devil and assumed she would find him irresistible so he began with "It is ironic, I think, that I am a thief, while you see and speak the truth, but the people believe me and scorn you."

 

Cassandra was not impressed and replied, "It is true. Most people would prefer a charming falsehood to the severity of truth. Since no one believes me anyway, you might as well tell me what scam you are currently promoting. I am truly interested. Please, do tell."

 

Never one to miss an opportunity, Senator Ponzi replied, "I am finding great success with central banking, paper money, and ever-increasing debt. Frankly, they are an easy sell, and people come to me begging to be part of the scam. It has been quite profitable so far and looks to be good for a long time." ...

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Charles Hugh Smith: Why the Innovation Premium Is Diminishing

Charles Hugh Smith: Why the Innovation Premium Is Diminishing | Gold and What Moves it. | Scoop.it

The acceleration of competition as high-tech tools and skills have dispersed throughout the global economy is an under-appreciated trend.


In the late 1980s, Apple famously reaped $1,000 in gross profit on each Macintosh computer sold: Apple was able to charge a very high premium for the innovations the Mac embodied. (Note: this was back when $1,000 was a substantial sum; that is over $2,000 in 2012 dollars.) This ability to reap a substantial premium for innovation is fundamentally what drives the technology marketplace: since competition arises in any high-profit space, the premium for innovation degrades as competitors enter the space. In the good old days, it took years for serious competition to arise. As the bumper sticker crowed, "Windows 95 = Mac 1985." (As I worked with both Mac 1985 and the crash-prone Windows 95, I would say Win95 was still substantially behind the Mac in stability.) The acceleration of competition as high-tech tools and skills have dispersed throughout the global economy is an under-appreciated trend. Apple has earned billions of dollars in profits over the decades as its innovations enabled the ...
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This is an interesting article. Will make you think.

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