I have also an old Lesbian story which is very much to the point. It is said that after Orpheus had been torn to pieces by the Thracian women, his head and his lyre were carried down the Hebrus into the sea; the head, it seems, floated down upon the lyre, singing Orpheus’s dirge as it went, while the winds blew an accompaniment upon the strings. In this manner they reached the coast of Lesbos; the head was then taken up and buried on the site of the present temple of Bacchus, and the lyre 12was long preserved as a relic in the temple of Apollo. Later on, however, Neanthus, son of the tyrant Pittacus, hearing how the lyre had charmed beasts and trees and stones, and how after Orpheus’s destruction it had played of its own accord, conceived a violent fancy for the instrument, and by means of a considerable bribe prevailed upon the priest to give him the genuine lyre, and replace it with one of similar appearance. Not thinking it advisable to display his acquisition in the city in broad daylight, he waited till night, and then, putting it under his cloak, walked off into the outskirts; and there this youth, who had not a note of music in him, produced his instrument and began jangling on the strings, expecting such divine strains to issue therefrom as would subdue all souls, and prove him the fortunate heir to Orpheus’s power. He went on till a number of dogs collected at the sound and tore him limb from limb; thus far, at least, his fate resembled that of Orpheus, though his power of attraction extended only to hostile dogs. It was abundantly proved that the charm lay not in the lyre, but solely in those peculiar gifts of song and music that had been bestowed upon Orpheus by his mother; as to the lyre, it was just like other lyres.
Rajan told me about a Richard Sandor Talk at the LSE in 2012 on Good derivatives Carbon Trading and the “Marketisation of Water”. He also mentioned the Marc Roche documentary Banksters about the HSBC slap on the wrists by the US’s toothless Guard Dog the SEC. Sandor distinguishes between regulated and unregulated Derivatives and Also over the Counter and Traded Derivatives. I will look at some of the Laurels Richard Claims for the “Good” Derivatives, of course counterfactuals, as we have seen in recent blogs here, are problematic, but even with that, I believe there is sufficient Data now, to empirically tackle the CLaims which Richard Makes that, can be pinned down and separated from the Snake Oil laced through the whole presentation.
Here is My CHat with Ranjan Yesterday Evening.
The king does not always bend the bow.
Good Derivatives: a story of financial and environmental innovation
Dr Richard Sandor will give a first-hand account of his experiences as an inventor of new markets- in interest rates, air and water. Dr. Sandor’s latest book Good Derivatives: A Story of Financial and Environmental Innovation tells the story of the creation of the CCX and the evolution of related exchanges such as the European Climate Exchange.
Richard Sandor is the current chairman and CEO of Environmental Financial Products LLC, which was the predecessor company and incubator for the Chicago Climate Exchange (CCX).
Master of puppets I’m pulling your strings
Twisting your mind and smashing your dreams
Blinded by me, you can’t see a thing
Just call my name, ’cause I’ll hear you scream
Just call my name, ’cause I’ll hear you scream
Copyright 2010 Metallica all rights reserved
From the director of ‘Goldman Sachs: The Bank that Rules the World’ comes a major new investigation into corruption at one of the world’s top financial institutions – HSBC. If HSBC were a country, it would be the fifth world economic power. Founded during the golden age of the Opium trade to enable the British Empire to access the Chinese market, it has created a unique network to move dirty money around the world. From tax evasion to money laundering for the mafia and manipulation of currency, “this bank had done everything bad that a bank can possibly do.” In 2012, HSBC nearly lost its license to operate in the US for laundering the money of the Mexican and Columbian drug cartels. Criminal charges were filed and HSBC’s executives hauled before a Senate committee. But George Osborne, UK’s then Chancellor of the Exchequer, wrote to his counterpart in America and to the Chairman of the Federal Reserve to plead for leniency. He claimed that if HSBC received a harsh punishment, it would have serious repercussions on the world’s financial and economic stability. The letter worked and HSBC was fined 2 billion euros. The equivalent of one month’s profits. As the center of international finance moves to Asia, HSBC is in prime position. It is the most Chinese of Western banks and the most European of Chinese banks. Protected by London, blessed by Beijing, who would dare attack it?
Neque semper arcum tendit rex.
Those who don’t know.
Those who cannot find.
Those who cannot find the truth within themselves.
Those who are destined to worship gold and sex.
Those who are unable to look in the mirror.
Those who own ivory villas with servants, but without doors.
Those who can not help but pay every yes.
Those who are used to lying with their ancestors.
Those who want to understand the depth of the lake by staying in line.
In eight moons they will knock on your door and tell you:
“It was written on the rock that you are a high mountain fairy. He has appointed you as a companion of greatness, but do not believe him: no longer read his letters, he would fill the pen with the blood of your heart and sell your looks on the stage It’s a heartless mass of evil, it’s a dark talking machine that has deceived everyone and now its ability has become diabolical, diabolical.
Neque semper arcum tendit rex.
And a traitor as only an old wizard can be,
he adores you with one eye and sees you as a useful pawn with the other. He will lead you into the darkest abyss trying to delude you, to please you, to delight you, to persuade you to lead him for a moment into the illusory light of darkness, but when you do he will run away and laugh at the thing with his servants. of him. All of his possessions are on display. His soul is in the shop window. He will steal your soul and showcase it.
Neque semper arcum tendit rex.
Neque semper arcum tendit rex. ”
Abyss, in this distant wood where the spirit of the wind wanders to those who have spoken the hand of Fate has cut their tongues.
Now their bodies sway fatally on the cauda of the cypresses.
Now my guitar will play for them.
For the soldier’s trade, verily and essentially, is notslaying, but being slain. This, without well knowing its ownmeaning, the world honours it for. A bravo’s trade is slaying;but the world has never respected bravos more than merchants: thereason it honours the soldier is, because he holds his life atthe service of the State. Reckless he may be — fond of pleasureor of adventure-all kinds of bye-motives and mean impulses mayhave determined the choice of his profession, and may affect (toall appearance exclusively) his daily conduct in it; but ourestimate of him is based on this ultimate fact — of which we arewell assured — that put him in a fortress breach, with all thepleasures of the world behind him, and only death and his duty infront of him, he will keep his face to the front; and he knowsthat his choice may be put to him at any moment — and hasbeforehand taken his part — virtually takes such partcontinually — does, in reality, die daily.Not less is the respect we pay to the lawyer and physician,founded ultimately on their self-sacrifice. Whatever the learningor acuteness of a great lawyer, our chief respect for him dependson our belief that, set in a judge’s seat, he will strive tojudge justly, come of it what may. Could we suppose that he wouldtake bribes, and use his acuteness and legal knowledge to giveplausibility to iniquitous decisions, no degree of intellectwould win for him our respect. Nothing will win it, short of ourtacit conviction, that in all important acts of his life justiceis first with him; his own interest, second.In the case of a physician, the ground of the honour werender him is clearer still. Whatever his science, we wouldshrink from him in horror if we found him regard his patientsmerely as subjects to experiment upon; much more, if we foundthat, receiving bribes from persons interested in their deaths,he was using his best skill to give poison in the mask ofmedicine.
This they will find, eventually, they must give up doing.
They must not cease to condemn selfishness; but they will have to
discover a kind of commerce which is not exclusively selfish. Or,
rather, they will have to discover that there never was, or can
be, any other kind of commerce; that this which they have called
commerce was not commerce at all, but cozening; and that a true
merchant differs as much from a merchant according to laws of
modern political economy, as the hero of the Excursion from
Autolycus. They will find that commerce is an occupation which
gentlemen will every day see more need to engage in, rather than
in the businesses of talking to men, or slaying them; that, in
true commerce, as in true preaching, or true fighting, it is
necessary to admit the idea of occasional voluntary loss; — that
sixpences have to be lost, as well as lives, under a sense of
duty. that the market may have its martyrdoms as well as the
pulpit; and trade its heroisms as well as war.
May have — in the final issue, must have-and only has not
had yet, because men of heroic temper have always been misguided
in their youth into other fields; not recognising what is in our
days, perhaps, the most important of all fields; so that, while
many a jealous person loses his life in trying to teach the form
of a gospel, very few will lose a hundred pounds in showing the
practice of one.
The fact is, that people never have had clearly explained to
them the true functions of a merchant with respect to other
people. I should like the reader to be very clear about this.
Five great intellectual professions, relating to daily
necessities of life, have hitherto existed — three exist
necessarily, in every civilised nation:
The Soldier’s profession is to defend it.
The Pastor’s to teach it.
The Physician’s to keep it in health.
The lawyer’s to enforce justice in it.
The Merchant’s to provide for it.
And the duty of all these men is, on due occasion, to die for it.
“On due occasion,” namely: –
The Soldier, rather than leave his post in battle.
The Physician, rather than leave his post in plague.
The Pastor, rather than teach Falsehood.
The lawyer, rather than countenance Injustice.
The Merchant-what is his “due occasion” of death?
It is the main question for the merchant, as for all of us.
For, truly, the man who does not know when to die, does not know
how to live.
Observe, the merchant’s function (or manufacturer’s, for in
the broad sense in which it is here used the word must be
understood to include both) is to provide for the nation. It is
no more his function to get profit for himself out of that
provision than it is a clergyman’s function to get his stipend.
This stipend is a due and necessary adjunct, but not the object
of his life, if he be a true clergyman, any more than his fee (or
honorarium) is the object of life to a true physician. Neither is
his fee the object of life to a true merchant. All three, if true
men, have a work to be done irrespective of fee — to be done
even at any cost, or for quite the contrary of fee; the pastor’s
function being to teach, the physician’s to heal, and the
merchant’s, as I have said, to provide. That is to say, he has to
understand to their very root the qualities of the thing he deals
in, and the means of obtaining or producing it; and he has to
apply all his sagacity and energy to the producing or obtaining
it in perfect state, and distributing it at the cheapest possible
price where it is most needed.
And because the production or obtaining of any commodity
involves necessarily the agency of many lives and hands, the
merchant becomes in the course of his business the master and
governor of large masses of men in a more direct, though less
confessed way, than a military officer or pastor; so that on him
falls, in great part, the responsibility for the kind of life
they lead: and it becomes his duty, not only to be always
considering how to produce what he sells, in the purest and
cheapest forms, but how to make the various employments involved
in the production, or transference of it, most beneficial to the
And as into these two functions, requiring for their right
exercise the highest intelligence, as well as patience, kindness,
and tact, the merchant is bound to put all his energy, so for
their just discharge he is bound, as soldier or physician is
bound, to give up, if need be, his life, in such way as it may be
demanded of him. Two main points he has in his providing function
to maintain: first, his engagements (faithfulness to engagements
being the real root of all possibilities, in commerce); and,
secondly, the perfectness and purity of the thing provided; so
that, rather than fail in any engagement, or consent to any
deterioration, adulteration, or unjust and exorbitant price of
that which he provides, he is bound to meet fearlessly any form
of distress, poverty, or labour, which may, through maintenance
of these points, come upon him.
Again: in his office as governor of the men employed by him,
the merchant or manufacturer is invested with a distinctly
paternal authority and responsibility. In most cases, a youth
entering a commercial establishment is withdrawn altogether from
home influence; his master must become his father, else he has,
for practical and constant help, no father at hand: in all cases
the master’s authority, together with the general tone and
atmosphere of his business, and the character of the men with
whom the youth is compelled in the course of it to associate,
have more immediate and pressing weight than the home influence,
and will usually neutralize it either for good or evil; so that
the only means which the master has of doing justice to the men
employed by him is to ask himself sternly whether he is dealing
with such subordinate as he would with his own son, if compelled
by circumstances to take such a position.
Supposing the captain of a frigate saw it right, or were by
any chance obliged, to place his own son in the position of a
common sailor: as he would then treat his son, he is bound always
to treat every one of the men under him. So, also, supposing the
master of a manufactory saw it right, or were by any chance
obliged, to place his own son in the position of an ordinary
workman; as he would then treat his son, he is bound always to
treat every one of his men. This is the only effective, true, or
practical Rule which can be given on this point of political
The secrets and objectives of the international system and the New World Order laid out in detail and in whole.
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