MIT

James Rickards: Gold Other Money That Renders Central Bank Power ‘Meaningless’

The “Quote For The Week” runner-up. From American investment banker, risk manager, attorney, and financial commentator James Rickards, in a recent interview with Schiff Gold’s Albert K. Lu:

I actually think of gold as money. Money is different from an investment or a commodity, so, is gold a commodity? Is it an investment? Is it money? Well, it depends a little bit. Like a chameleon, it changes color. I think of it as money. But I think that’s why there is such bitter opposition, and so many really canards and made-up stories, anti-gold. These come from the PhDs. Whoever controls money controls the world. You control wealth, you control politics; you control who wins and who loses. It’s a very powerful thing to control.

Who controls money today? The answer is the central banks, and those are all PhDs, they come from MIT, Harvard, Chicago, Stanford, just a really small number of universities. They all know each other. It’s a club. Well, if you were in this PhD club that controls the central banks, you wouldn’t want people to even think about gold. You wouldn’t want them to talk about gold, because gold is the competition. Gold is the other money that can render their power meaningless. And so they perpetuate these myths about gold. Unfortunately, a lot of students, a lot of journalists, a lot of everyday citizens follow the leader, follow these PhDs without ever examining the assumptions…

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

Rickard’s new book…

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MIT Researchers: Satellite Problems Coincide With Solar Storms

At the risk of being Captain Obvious here, a new study is out that suggests a correlation between Sun-induced severe space weather and satellite problems. Megan Gannon reported on SPACE.com yesterday:

High-speed eruptions of charged particles from the sun may be to blame for recent failures of satellites that people rely on to watch TV and use the Internet, scientists say.

From 93 million miles (150 million kilometers) away, the sun spawns solar flares, coronal mass ejections and other space weather events, which can send highly energized particles racing toward Earth. Some solar storms have been known to disrupt communications systems and damage satellites.

To better understand these disturbances, a team of MIT researchers investigated the space weather conditions at the time of 26 failures in eight geostationary satellites operated by the London-based company Inmarsat. Geostationary satellites orbit at the same rate as the Earth’s rotation, meaning they always hover above the same location on the planet.

Most of the glitches, from 1996 to 2012, coincided with high-energy electron activity during declining phases of the solar cycle, the study found.

(Editor’s note: Italics added for emphasis)

Kerri Cahoy, an assistant professor of aeronautics and astronautics at MIT, and Whitney Lohmeyer, an aeronautics and astronautics graduate student at MIT, shared their findings in an article published in the August 2013 issue of Space Weather entitled “Space weather radiation effects on geostationary satellite solid-state power amplifiers.” You can read the abstract for the piece in the Wiley Online Library here.

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Gannon, Megan. “Extreme Space Weather Storms Spark Satellite Failures, Study Suggests.” SPACE.com. 16 Sep. 2013. (http://www.space.com/22815-space-weather-causes-satellite-failures.html). 17 Sep. 2013.

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Tuesday, September 17th, 2013 Communications, Space, Technology, Weather No Comments
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