20th-century American businessman
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In this compelling episode titled 'The Power of Vulnerability: Ditching Perfectionism for True Freedom,' host Kim Grosser delves into the transformative impact of embracing vulnerability over perfectionism. She shares powerful insights from her book 'Free to Be: A Pathway to Inner Liberation,' highlighting how the quest for perfection often masks our true selves and inhibits genuine connection. Drawing on personal stories and wisdom from figures like Bernard Baruch and Teddy Roosevelt, Kim illustrates that real strength lies in being authentic. She inspires listeners, especially people pleasers and perfectionists, to remove their masks and embark on a journey of inner healing for a more joyful, liberated life.
If you enjoyed this podcast, please consider buying me a cup of coffee. Go to: https://buymeacoffee.com/davidreavill Thanks for listening!
If you enjoyed this podcast, please consider buying me a cup of coffee. Go to: https://buymeacoffee.com/davidreavill Thanks for listening!
If you enjoyed this podcast, please consider buying me a cup of coffee. Go to: https://buymeacoffee.com/davidreavill Thanks for listening!
If you enjoyed this podcast, please consider buying me a coffee. Go to: https://buymeacoffee.com/davidreavill Thanks for listening!
Is the Left taking the bait? While many in the legacy media continue to berate Elon Musk for his role in defunding bloated federal programs and agencies, Donald Trump remains largely unscathed. Is this part of a larger strategy by the president, wonders Victor Davis Hanson on today's edition of “Victor Davis Hanson: In His Own Words.” “He's more legitimate—or he has more statutory legitimacy—than earlier presidential advisors, like Harry Hopkins, who moved into the White House under the FDR administration, or Bernard Baruch, who basically ran two world wars, in terms of domestic production, under Woodrow Wilson and FDR. So, let's just dispel the idea that he's doing anything unusual. ... “As far as the executive orders that created the DOGE program and eliminated USAID—that was perfectly legal in itself—USAID was created by John F. Kennedy in 1961 by an executive order. There was a statutory direction for the president to disperse foreign aid into a comprehensive body, but it didn't say USAID—he could do whatever he wanted. ... "And so, Donald Trump has decided to end an autonomous USAID and fold it into the State Department for disaster relief or poverty relief or famine relief. ... “All Donald Trump is doing is saying, ‘I don't believe the impoundment act is legal. We'll see what the Supreme Court says—but I'm just following the precedent that Joe Biden did.' But now, the shoe's on the other foot." For Victor's latest thoughts, go to: https://victorhanson.com/ Don't miss out on Victor's latest videos by subscribing to The Daily Signal today. You'll be notified every time a new video drops: https://www.youtube.com/channel/UCHqkXbgqrDrDVInBMSoGQgQ The Daily Signal cannot continue to tell stories like this one without the support of our viewers: https://secured.dailysignal.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
70 MinutesPG-13Philo's Miscellany has a YouTube channel in which he reviews rare books.Philo's joins Pete to talk about the life of Southern Democrat, Bernard Baruch.Philo's YouTube ChannelPete and Thomas777 'At the Movies'Support Pete on His WebsitePete's PatreonPete's Substack Pete's SubscribestarPete's GUMROADPete's VenmoPete's Buy Me a CoffeePete on FacebookPete on TwitterBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-pete-quinones-show--6071361/support.
E che cos'è, per definizione. Perché per quanto crediamo di no, non è stata una sola. E già che ci siamo, perché si dice Cortina di Ferro? C'entrano Winston Churchill, George Orwell e Bernard Baruch. Learn more about your ad choices. Visit megaphone.fm/adchoices
คอลัมน์ “สดแต่เช้า”ปีที่4 (163) การฟังที่ดีนั้นเป็นอย่างไร? “พี่น้องที่รักของข้าพเจ้า จงเข้าใจในเรื่องนี้ คือให้ทุกคนไวในการฟัง ช้าในการพูด ช้าในการโกรธ” ~ยากอบ 1:19 THSV11 “Understand this, my beloved brothers and sisters. Let everyone be quick to hear [be a careful, thoughtful listener], slow to speak [a speaker of carefully chosen words and], slow to anger [patient, reflective, forgiving];” ~James 1:19 AMP Malcom Forbes(1919~1990) ผู้ประกอบการและนักการเมืองอเมริกัน ที่โด่งดังที่สุดในฐานะผู้จัดทำนิตยสาร Forbes magazine กล่าวว่า “ ศิลปะของการสนทนาอยู่ที่การฟัง!” (The art of conversation lies in listening.) ดังนั้นเวลาคุยกัน อย่าเอาแต่พูด แต่จงตั้งใจฟัง และพูดเมื่อจำเป็นเท่านั้น! Bernard Baruch (1870-1965)นักการเงินและรัฐบุรุษชาวอเมริกัน ที่มีบทบาทสำคัญมากในช่วงสงครามโลกครั้งที่1 ก็กล่าวสนับสนุนว่า “ คนที่ประสบความสำเร็จส่วนใหญ่เท่าที่ผมรู้จักมา คือคนที่ฟังมากกว่าพูด!” (Most of the successful people I've known are the ones who do more listening than talking.) เราจึงควรเรียนรู้จักที่จะฟังที่ดี ดังนี้1.ฟังให้มากกว่าพูด หรืออย่างน้อยก็ฟังให้เท่ากับที่เราพูด2.ฟังแบบเปิดใจกว้าง ไม่มีอคติ3.ฟังด้วยใจเป็นธรรม 4.ฟังด้วยใจเมตตากรุณา 5.ฟังแบบตั้งอกตั้งใจ 6.ฟังแบบช่วยทบทวน2~3ประโยคสุดท้ายกลับไปให้ผู้พูดเป็นระยะๆ7.ฟังแบบสะท้อนด้วยคำถามที่ดี เมื่อมีจังหวะ8.ฟังแบบช่วยให้ผู้พูดพูดได้ดีขึ้น โดยทำให้รู้ว่าผู้ฟังกำลังฟังอยู่9.ฟังแบบไม่ด่วนตัดสิน 10.ฟังแบบไม่ด่วนสรุป11.ฟังแบบปิดปากให้สนิทจนกว่าจะถึงเวลาที่สมควรจะพูด 12.ฟังแบบไม่ต้องให้คำแนะนำใดใดนอกจากว่าผู้พูดจะขอ13.ฟังแบบแยกแยะได้ว่าอะไรควรฟังและอะไรไม่ควรฟัง14.ฟังให้ได้ยินในสิ่งที่เขาไม่ได้พูดออกมา จากการสังเกตดูอาการ15.ฟังแบบเพื่อเข้าใจคนพูดไม่ใช่เพื่อให้เขาเข้าใจเรา เหมือนที่ Stephen Covey(1932-2012) นักการศึกษา นักธุรกิจ นักพูด และเป็นผู้เขียนหนังสือที่เป็นยอดนิยม อาทิ The 7 Habits of Highly Effective People ได้กล่าวว่า “คนส่วนใหญ่ไม่ได้ฟังด้วยความตั้งใจที่จะเข้าใจแต่ แต่พวกเขาฟังด้วยความตั้งใจที่จะตอบโต้!” (Most people do not listen with the intent to understand; they listen with the intent to reply.) นี่เป็นคำเตือนสติที่ดี! 1.หากฟังไม่เป็น ก็ยอมพูดไม่ถูก 2.เมื่อพูดไม่ถูกพ฿ดไม่เป็น ก็ย่อมฟังไม่รู้เรื่อง 3.เมื่อฟังไม่รู้เรื่อง ก็ย่อมไม่เข้าใจ 4.เมื่อฟังไม่เข้าใจ ก็ย่อมทำอะไรให้ตรงใจหรือตรงความต้องการไม่ได้ ก็จะเสียเวลาทั้งสองฝ่ายไปโดยเปล่าประโยชน์! หรือบางทีฟังแล้วเข้าใจผิด จึง 1).เกิดความโกรธ หรือความน้อยใจ 2).แล้วโพล่งพูดอะไรออกมา ที่นำความเสียใจมาสู่ทั้งสองฝ่าย อย่างยาวนาน เมื่อเป็นเช่นนี้ ถึงแม้ว่า พวกเราจะพูดกันไปพูดมาตั้งมากมาย แต่กลับกลายเป็นว่า การสื่อสารจริงๆยังไม่เกิดขึ้นเลย! ดังนั้น พี่น้องที่รัก วันนี้ให้เรามาฝึก“ฟังให้เป็น“ หรือ “ฟังให้ดี”ก่อนที่เราจะพูดอะไรออกมา …จะดีไหมครับ?~~~~~~~~~~~~~~~ธงชัย ประดับชนานุรัตน์10กันยายน 2024 #YoutubeCJCONNECT #thongchaibsc#คริสตจักรแห่งความรัก #churchoflove #ShareTheLoveForward #ChurchOfJoy #คริสตจักรแห่งความสุข #NimitmaiChristianChurch #คริสตจักรนิมิตใหม่ #ฮักกัยประเทศไทย #อัลฟ่า #หนึ่งล้านความดี
Explore influential quotes and maxims from the investing and business world. This includes from: Warren Buffett, Mark Twain, Robert Kiyosaki, Albert Einstein, Dan Sullivan, Thomas Edison, Benjamin Franklin, Suze Orman, and yours truly, Keith Weinhold. “Why not go out on a limb? That's where the fruit is.” -Mark Twain “Given a 10% chance of a 100x payoff, you should take that bet every time.” -Jeff Bezos “The stock market is a device for transferring money from the impatient to the patient.” -Warren Buffett “Don't live below your means; expand your means.” -Rich Dad “The wise young man or wage earner of today invests his money in real estate.” -Andrew Carnegie “Savers are losers. Debtors are winners.” -Robert Kiyosaki Resources mentioned: For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments. You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review” GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold Complete episode transcript: Keith Weinhold (00:00:00) - Welcome to GRE. I'm your host, Keith Weinhold. Real estate and other investing involves people from the disappointing to the mesmerizing. People have contributed countless quotes, maxims and aphorisms on investing today. All recite and then we'll discuss dozens of influential ones and what you could learn from this timeless wisdom today on get Rich education. Robert Syslo (00:00:29) - Since 2014, the powerful get Rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate, investing in the best markets without losing your time being a flipper or landlord. Show host Keith Reinhold writes for both Forbes and Rich Dad Advisors and delivers a new show every week. Since 2014, there's been millions of listeners downloads and 188 world nations. He has A-list show guests include top selling personal finance author Robert Kiyosaki. Get Rich education can be heard on every podcast platform, plus has had its own dedicated Apple and Android listener. Phone apps build wealth on the go with the get Rich education podcast. Robert Syslo (00:01:06) - Sign up now for the get Rich education podcast or visit get Rich education.com. Corey Coates (00:01:14) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education. Keith Weinhold (00:01:30) - Welcome to diary from Ellis Island, New York, to Ellensburg, Washington, and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to get Rich education for the 508th consecutive week. Happy July. It's the first day of the quarter, and it's now the second half of the year. So late last year when you got takeaways from our goals episode here, I hope that you're still applying them today. We're doing something different on this show. For most episodes. I divulge a lot of my best guidance. Some even quote that material. But why don't I acknowledge others great quotes maxims in aphorisms along with some of my own? And then I'll tell you what you can learn from them. So yes, today it's about axioms, adages, mantras and quotes, maxims and aphorisms. Some of these you've heard, others you probably haven't. Keith Weinhold (00:02:28) - The first one is the only place you get money is from other people. Yeah. Isn't that so solidly true? You've never received any money in your life from yourself, unless you try to counterfeit it and give it to yourself. It's always been from other people. When you realize that the only place that you do get money is from others, you realize the value of relationships and connectivity. The next one comes from the brilliant entrepreneurial coach Dan Sullivan. You are 100% disciplined to your set of habits. Gosh, this is a terrific reminder about the importance of how you have to often uncomfortably apply something new in order to up your skill set up your game. If you keep getting distracted, well, then that's a habit, and then you'll soon become disciplined to the habit of distraction. The next two go together, and they're about market investing. Nobody is more bearish than a sold out bull. And the other is bears make headlines. Bulls make money. Really the lesson there is that they're both reminders that it's better to stay invested rather than on the sidelines. Keith Weinhold (00:03:53) - The next two are related to each other as well. Albert Einstein said, strive not to be a person of success, but rather to be a person of value. And then similarly, a more modern day spin on that. Tony Hsieh, the late CEO of Zappos. He said, Chase the vision, not the money and the money will end up following you. And the lesson here is, well, we'd all like more money, but if you focus on the money first, well then it doesn't want to follow you. You need to provide value and build the vision first, and then the money will follow and you know, to me, it's kind of like getting the girl if you act too interested in her and you get too aggressive, it's a turnoff. But if you quietly demonstrate that you're a person of value, or subtly suggest somehow in a way that their life could be improved by having a relationship with you or being around you, then they're more likely to follow. And yes, I'm fully aware that this is a heterosexual male analogy, and I use it because that is what I am. Keith Weinhold (00:04:58) - So if you're something else, I'm sure you can follow along with that. The next quote is from Susie Kasam. Doubt kills more dreams than failure ever will. Gosh, isn't this so on point? It's about overcoming the fear in just trying. And then if you know that you've lived a life of trying, you're going to have fewer regrets. Thomas Edison yes, the light bulb guy in the co-founder of General Electric, he said the value of an idea lies in the using of it. Oh, yeah, that's a great reminder that knowledge isn't really power. It's knowledge plus action that creates power because an idea that remains idle doesn't do anyone any good. Hey, we're just getting started talking about investing in real estate quotes today here on episode 508 of get Rich education. And, you know, remarkably, these maxims and catchphrases, they're usually just 1 or 2 sentences, but yet they are so often packed with the wisdom such that these takeaways and lessons are like your three favorite ones today. They can change the trajectory of your entire life. Keith Weinhold (00:06:20) - The next quote is one that I have said carefully bought real estate has the best risk adjusted return in. The world. And I don't need to explain that because we talk about that in some form or another on the show many weeks. Albert Schweitzer said success is not the key to happiness. Happiness is the key to success. If you love what you're doing, you will be successful. Yeah, I'd say that one is mostly true. Just mostly, though, there's no attribution here. On this next one, you might have heard the aphorism money is a terrible master, but an excellent servant. Yeah. Now, I've heard that one for a long time, and it took me a while to figure out what it really meant. And here's my take on that. If you make money, the master will. Then you'll, like, do almost anything. You'll trade your time for money. You'll sell your time for dollars instead. If you invest passively and it creates leveraged equity and income streams, oh, then money serves you. Keith Weinhold (00:07:28) - It's no longer the master. That's what that means to me here in a real estate investor context. And, you know, it really underscores the importance of making money work for you. And is a follow up to last week's show. Whose money are we talking about here? Whose is it? It's focusing on getting other people's money to work for you, not just your own. Now, the next one is a quote that I've said on the show before, quite a while ago, though. And come on now, what would an episode about quotes, maxims and aphorisms be without some contribution from Mark Twain? Here Twain said, why not go out on a limb? That's where the fruit is. that's just so, so good in business and in so many facets of your life, constantly playing it safe is the riskiest thing that you can actually do. Because a risk averse investor places a ceiling on his or her potential in a risk averse person imposes an upper limit on their very legacy. In fact, episode 275 of the get Rich education podcast is named Go Out on Limb precisely because of this Twain quote. Keith Weinhold (00:08:45) - So listen to that episode if you want to hear a whole lot more about that. It's actually one of Twain's lesser known quotes, but perhaps his best one. The next one comes from famous value investor Benjamin Graham. He said the individual investor should act consistently as an investor and not as a speculator. Okay, so what's the difference there? A speculator takes big risks in hopes of making large quick gains. Conversely, an investor focuses on risk appropriate strategies to pursue longer term goals, which is really consistent with being a prudent, disciplined real estate investor. Presidential advisor Bernard Baruch contributed this to the investing world. Don't try to buy at the bottom and sell at the top. It can't be done except by liars. yes. Tried to time the market. It might be tempting, but it rarely works because no one really knows when the market has reached its top or its bottom. All you can really hope to do is buy lower and sell higher. But you're never going to buy at the trough and sell at the peak. Keith Weinhold (00:10:00) - And even buying lower and selling higher is harder to do than it sounds, even though everyone knows that's what they're supposed to do. Albert Einstein is back here, he said. Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn't pays it. And as you've learned here on the show on previous episodes, compound interest. It does work arithmetically, but not in real life would apply to the stock market. Of course. My quote contribution to the investing world on this is compound interest is weak. Compound leverage is powerful. I broke that down just last week on the show, so I won't explain that again. Now, really, a central mantra in GR principle is don't live below your means, grow your means. But I must tell you, I can't really take credit for coining that particular one because from the rich dad world, the quote is don't live below your means, expand your means. But I did hear that from them first, and though it can't be certain, I think it was Sharon letter that coined that one. Keith Weinhold (00:11:13) - A lot of people don't know this, but she was the original co-author of the book. Rich dad, Poor Dad with Robert Kiyosaki. And Sharon has been here on the show before, and if I have her back, I will ask her if she is the one that coined that. Don't live below your means. Expand. Your means. But yeah, I mean, what this quote really means is, in this one finite life that you have here on Earth, why in the world would you not only choose to live below your means, but actually take time and effort learning how to do a better job of living below your means when it just makes you miserable after a while, when instead you could use those same efforts to grow your means and you can only cut down so far. And there's an unlimited ceiling on the upside. And now there is one caveat here. I understand that if you're just getting on your feet, well, then living below your means might be a necessity for you in the short term. Keith Weinhold (00:12:08) - And what's an example of living below your means? It's eating junk food because it's cheap and filling, expanding your means. That might be doing something like learning how to do a cost segregation to accelerate your depreciation. Write off on your 20 unit apartment building. But you know, even if you're in hardship, I still like live within your means more than the scarcity minded guidance of live below your means. Next is a terrific one, and it really reinforces the last quote a rich man digs for gold. A poor man is concerned with the cost of a shovel. Oh yeah, that's so good. And I don't know who to attribute that to. It's about growing your means and taking on and actually embracing calculated risks. Not every risk, calculated risk. And you can also live that regret free life this way. In fact, episode 91 of this show is called A Rich Man Digs for gold. So you can get more inspiration for that from that episode. Okay, this one comes from the commodities world where there are notoriously volatile prices. Keith Weinhold (00:13:18) - How do you make a million? You start with 2 million. now, this next one is one that I don't really agree with that much. You really heard this a lot the last few years. It applies when you have a mortgage on a property, and that is the house is the liability and the debt is the asset. I know people are trying to be crafty. People kind of use this pithy quote when they're discussing how those that locked in at those artificially low mortgage rates years ago considered the debt so good that it's an asset. It's like, yeah, I know what you're saying. And I love good real estate debt and leverage and all that, of course. But really, for you, truly, then if the House is a liability and the debt is an asset like you're saying, then give away the house to someone else. If it's such a liability, and keep the debt to pay off yourself if it's really such an asset. A little humorous here. Next, Forbes magazine said, how do you make a million marry a millionaire? Or better yet, divorce one then more? Real estate ish is Jack Miller's quote how do you become a millionaire? Well, you borrow $1 million and you pay it off. Keith Weinhold (00:14:31) - And I think we can all relate to that here at GRE. Better yet, borrow $1 million and don't pay it off yourself. Have tenants and inflation pay it down for you. And you know, inflation is getting to be a problem for any of these, like century old classic quotes that have the word millionaire in them. Because having a net worth of a million that actually used to mean you were wealthy, and now it just means you're not poor, but you might even be below middle class. Now, you probably heard of some of these next ones, but let's talk about what they mean. Warren Buffett said the stock market is a device for transferring money from the impatient to the patient. And then Benjamin Franklin said an investment in knowledge pays the best interest. I mean, yeah, that's pretty on point stuff there when it comes to investing. Nothing will pay off more than educating yourself. So do some research before you jump in. And you've almost certainly heard this next one from Warren Buffett. Speaker 4 (00:15:28) - You want to be greedy when others are fearful, and you want to be fearful when others are greedy. Keith Weinhold (00:15:32) - That is, be prepared to invest in a down market and to get out in a soaring market. As per the philosophy of Warren Buffett, it's far too easy for investors to lose perspective when something big goes wrong. A lot of people panic and sell their investments. And looking at history. The markets recovered from the 2008 financial crisis. They recover from the dotcom crash. They even recover from the Great Depression, although it took a long time. So they're probably going to get through whatever comes next as well, if you really follow that through what Buffett said there. Well, then at a time like this now, I mean, you could be looking at shedding stocks as they continue to approach and break all time highs. Carlos Slim, hello said with a good perspective on history, we can have a better understanding of the past and present and thus a clear vision of the future. Sure. Okay, that quote like that probably didn't sound very snappy and it's really simple, but he's telling us that if you want to know the future, check on the past. Keith Weinhold (00:16:39) - Not always, but often. It will tell you the future directory, or at least that trajectories range. And this is similar to how I often say take history over hunches, like when you're applying economics to real estate investing. Now this next guy has been a controversial figure, but George Soros said it's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong. Okay, I think that quote means that too many investors become almost obsessed with being right, even when the gains are small, winning big, and cutting your losses when you're wrong. They are more important than being right. Amazon founder Jeff Bezos said given a 10% chance of a 100 times payoff, you should take that bet every time. All right. Now, that's rather applicable to the high flying risk of, say, investing in startup companies. We'll see. Bezos himself, he took a lot of those bets, a 10% chance at a 100 X payoff. And that is exactly why he's one of the richest people in the world. Keith Weinhold (00:17:49) - Now, if you haven't heard of John Bogle before, you should know who he is. He co-founded the Vanguard Group, and he's credited with popularizing the very concept of the index fund. I mean, Bogle transformed the entire investment management industry. John Bogle said, don't look for the needle in the haystack. Just buy the haystack. Okay? If it seems too hard to say, find the next Amazon. Well, John Bogle came up with the only sure way to get in on the action. By buying an index fund, investors can put a little bit of money into every stock, and that way they never miss out on the stock market's biggest winners. They're only going to have a small part. And what that means to a real estate investor is, say, rather than buying a single property in a really shabby neighborhood, that neighborhood will drag down your one property. So to apply boggles by the whole haystack quote. What you would do then is raise money to buy the entire block, or even the entire neighborhood and fix it up, therefore raising the values of all of the properties. Keith Weinhold (00:18:55) - Back to Warren Buffett. He had this analogy about the high jump event from track and field. He said, I don't look to jump over seven foot bars. I look around for one foot bars that I can step over. Yeah. All right. I mean, investors often do make things too hard on themselves. The value stocks that Buffett prefers, they frequently outperform the market, making success easier. Supposedly sophisticated strategies like short selling. A lot of times they lose money in the long run. So profiting from those is more difficult. Now, you might have heard the quote, and it's from Philip Fisher. He said the stock market is filled with individuals who know the price of everything but the value of nothing. Yeah. I mean, that's really another testament to the fact that investing without an education and research that's ultimately going to lead to pretty regrettable investment decisions. Research is a lot more than just listening to the popular opinion out there, because people often just then invest on hype or momentum without understanding things like a company's fundamentals or what value they create for society, or being attentive to price to earnings ratios. Keith Weinhold (00:20:08) - Even Robert Arnott said in investing, what is comfortable is rarely profitable. You know, that's pretty on point at times. You have to step out of your comfort zone to realize any big gains. Know the boundaries of your comfort zone. Practice stepping out of it in small doses. As much as you need to know the market, you need to know yourself too. Can you handle staying in when everyone else is jumping out, or do you have the guts to get out during the biggest rally of the century? You've got to have the stomach to be contrarian and see it through. Robert Allen said. How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case. That's the end of what Robert G. Allen said. Yeah, though inflation could cut out the millionaires part. Yeah I mean point well taken. No one builds wealth through a savings account. Now a savings account might be the right place for your emergency fund. It has a role, but it's not a wealth builder. Keith Weinhold (00:21:10) - I mean, since we left the gold standard back in 1971, so many dollars get printed most years that savers become losers. Which, hey, that does bring us to Robert Kiyosaki. He's been a guest on the show here with us for times now, one of our most frequent guests ever. Here he is. The risks at Port Arthur. And you probably know what I'm going to say. He is, he said. Savers or losers? Debtors or winners of something that your parents probably would never want to know that you subscribed to your grandparents, especially. Yes, he is one of the kings of iconoclastic finance quotes. And as you know, I've got some contributions to that realm myself. But what Kiyosaki is saying is if you save 100 K under a mattress and inflation is 5%, well, now after a year you've only got 95 K in purchasing power. So therefore get out of dollars and get them invested. Even better than if you can get debt tied to a cash flowing leveraged asset. In fact, episode 212 of this very show is named Savers are Losers. Keith Weinhold (00:22:18) - Debtors are winners. So I go deep on that theme there. We've got more as we look at it and break down some of the great real estate investing quotes, maxims and aphorisms. They generally get more real estate ish as we go here, including ones that you haven't heard before and dropping, quote, bombs here that absolutely have to be enunciated and brought to light ahead. A group of Real Estate quotes episode. Hey, learn more about what we do here to get rich education comm get rich education.com. And do you have friends or family that are into investing or real estate? I love it when you hit the share button on your pod catching device or whatever platform you're listening on. Everything that we do here is free and the share button really helps the show. Be sure to follow or subscribe yourself if you haven't done that more. Straight ahead. I'm Keith Reinhold, you're listening to get Rich education. Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. Keith Weinhold (00:23:27) - If your money isn't making 4%, you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk. Your cash generates up to an 8% return with compound interest year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just $25. You keep getting paid until you decide you want your money back there. Decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor, to earn 8%. Hundreds of others are text family 266866. Learn more about Freedom Family Investments Liquidity Fund on your journey to financial freedom through passive income. Text family to 66866. Role under this specific expert with income property, you need. Ridge lending Group Nmls 42056. In gray history from beginners to veterans, they provided our listeners with more mortgages than anyone. It's where I get my own loans for single family rentals up to four Plex's. Start your pre-qualification and chat with President Charlie Ridge personally. Keith Weinhold (00:24:46) - They'll even customize a plan tailored to you for growing your portfolio. Start at Ridge Lending group.com Ridge lending group.com. Speaker 5 (00:25:02) - This is Rich dad advisor Ken McElroy. Listen to get Rich education with Keith Reinhold and don't quit your daydream. Keith Weinhold (00:25:20) - Welcome back to Get Your Education. I'm your host, Keith Weiner. We're having some fun today, looking at and breaking down some of the great investing quotes, maxims, and aphorisms. Andrew Carnegie said, the wise young man or wage earner of today invests his money in real estate. Another one for Mark Twain here by land. They're not making it any more. You probably heard one or both of those. And yeah, Twain's time predated that of those islands that are built in Dubai. But Twain's point is still well taken. There is an inherent scarcity in land. Louis Glickman drove the point home about real estate investing when he simply said, the best investment on Earth is Earth. A Hebrew proverb goes as far as saying he is not a fool man who does not own a piece of land. Keith Weinhold (00:26:18) - Wow, that's pretty profound right there. And if you're a female listener, yes, many of these timeless quotes from yesteryear harken back to a period when all of the landowners were men. President Franklin D Roosevelt, he has a real estate quote that you probably heard, but let's see what I think about it. Let's talk about it. Here it is. Real estate cannot be lost or stolen, nor can it be carried away, purchased with common sense, paid for in full and managed with reasonable care. It is about the safest investment in the world. That's from FDR. That's pretty good. I just don't know about the paid in full part because you lost your leverage. FDR, Johnny Isakson, a US senator, said, in the real estate business, you learn more about people and you learn more about community issues. You learn more about life. You learn more about the impact of government, probably more than any other profession that I know of. And that's good, really on point stuff there. Keith Weinhold (00:27:23) - If you're a direct real estate investor like we are here, you really learn those things. If you're in, say, a REIT, well, you're not going to be exposed to that type of knowledge in experiences. Hazrat Ali Khan is a spiritualist and he said, some people look for a beautiful place, others make a place beautiful. Yeah, that's some mystical motivation for the house flipper or the value add real estate syndicator right there, Political economist John Stuart Mill, he said something you've probably heard before. Landlords grow rich in their sleep without working, risking or economizing. Oh, yes, you can have a real estate quotes episode without that classic one. Although rather than landlords growing rich in their sleep, the phrase real estate investors is likely more accurate. Don't wait to buy real estate. Buy real estate and wait. You've surely heard that one. You might not know that it was actor Will Rogers with that particular attribution, entrepreneur Marshall Field said buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy, billionaire John Paulson said. Keith Weinhold (00:28:45) - I think buying a home is the best investment any individual can make. That's what Paulson said. let's give Paulson the benefit of the doubt here. Although Robert Kiyosaki famously said that a house is not an asset because an asset puts money in your pocket and your home takes money out of your pocket, well, a home is something that you get to live in, build family memories in, and you do get some leverage if you keep debt on your own home. So maybe that's more of what's behind John Paulson's maxim there. Notable entrepreneur Jesse Jones. He said I have always liked real estate, farmland, pasture land, timberland and city property. I have had experience with all of them. I guess I just naturally like the good Earth, which is the foundation of all our wealth. Business mogul Tamir Sapir said if you're not going to put your money in real estate, where else? Yeah, I guess that's a good question. Anthony hit real estate professional. He said to be successful in real estate, you must always inconsistently put your client's best interests first. Keith Weinhold (00:30:00) - When you do, your personal needs will be realized beyond your greatest expectations. Yeah, I think he's talking about being a team player there. And if you're a real estate agent, it's about putting your client's needs over yours. If it's a landlord, perhaps then you're thinking about putting your tenants first and meeting their needs so that they stay in your property longer. Here's a quote that I've got to say I don't understand. It's from real estate mogul and shark tank shark Barbara Corcoran. She says a funny thing happens in real estate. When it comes back, it comes back like gangbusters. I don't really know what that means, and I don't know what a gangbuster is yet. I see that quote all over the place. I can't explain why that would be popular. I don't get it at all now, novelist Anthony Trollope said it is a comfortable feeling to know that you stand on your own ground. Land is about the only thing that can't fly away. Entrepreneur Armstrong Williams is here with this gem. Now one thing I tell everyone is to learn about real estate. Keith Weinhold (00:31:12) - Repeat after me. Real estate provides the highest returns, the greatest values in the least risk. Yeah, that's a real motivator of a quote. As long as one knows what they're doing and buys, right? All of that could very well be true from Armstrong Williams. It was none other than John de Rockefeller that said the major fortunes in America have been made in land. Yeah, it's just really plain and simple there. John Jacob Astor, he got specific and more strategic here. This is Astor. He said, buy on the fringe and wait by land near a growing city. Buy real estate when other people want to sell and hold what you buy. I mean, yeah, that's pretty much an all timer right there from Astor. Winston Churchill said land monopoly is not only monopoly, it is by far the greatest of monopolies. It is a perpetual monopoly, and it is the mother of all other forms of monopoly. Yeah, interesting from Churchill. And there's a good chance that you haven't heard that one before. Keith Weinhold (00:32:26) - Perhaps. So say, for example, if one owns real estate on all four corners of a busy street intersection, then that quote applies. It's like you've got a monopoly on a popular intersection. Russell Sage said. This real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security. That's from Russell Sage. And, you know, you know, something here is we've got lots of real estate specific quotes in this segment is that it is rare to nonexistent to see any negative quotes about real estate, about anyone saying anything bad about it. It's all positive stuff. Waxing eloquent about real estate. And there are a lot of reasons to do that. But not every real estate moment is great. Maybe this is all because nothing quotable is said when you find out that one of your tenants is a drug dealer. Well. Finance expert Susie Orman says this owning a home is a keystone of wealth, both financial affluence and emotional security. Keith Weinhold (00:33:46) - Yeah, a lot like an earlier quote. A home is the only investment that you get the benefit of living in. Peter Lynch said. No, what you own and why you own it. I mean, that is short, sweet and it's just a really good reminder to you. Do you now own any properties that you would not buy again? And if you wouldn't buy it again, then should you consider selling it now? Not FDR, but Theodore Roosevelt. He said every person who invests. In well selected real estate in a growing section of a prosperous community, adopts the surest and safest method of becoming independent for real estate is the basis of wealth. That's Theodore Roosevelt. Yeah. He reiterates that you want to own most of your property in growing places, something that really hasn't changed over all this time. Coke Odyssey contributes to this. The house he looked at today and wanted to think about until tomorrow, maybe the same house someone looked at yesterday and will buy today. Oh, gosh, that's true. Keith Weinhold (00:34:58) - I think that everyone has the story of the one that got away. Margaret Mitchell said the land is the only thing worth working for. Worth fighting for, worth dying for. Because it's the only thing that lasts. Yeah. Wow. Some real passion there from Margaret. Sir John Templeton said the four most dangerous words in investing are. It's different this time. Yeah. I think what Templeton is advising is to follow market trends in history. Don't speculate that this particular time will be any different. Warren Buffett said wide diversification is only required when investors do not understand what they are doing. Yeah, that insight from Buffett. That's pretty applicable when you understand that you've got to get good in a niche and then get rich in that niche, meaning being narrow. Why diversification? That's likely better when you're just beginning and you don't know much, but then you want to get niche in your big earning years. And then perhaps when you're older, you get diversified once again because you're more interested in just protecting what you have. Keith Weinhold (00:36:15) - Robert Kiyosaki said it's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for. Now there's something with tax efficiencies and more in that Kiyosaki quote. My friend Dave Zook, billionaire dollar syndicator and frequent guest on this show, he said, you can be conventional or you can be wealthy. Pick one. Oh yeah, I love that from Dave. Because if you do what everyone else does, you'll only get what everyone else got. And I've contributed some material here over 508 episodes of this show. Although I won't claim the eminence of some of the other luminaries of the past few centuries discussed today. I've been known to say these. You do care about what others think. That's your reputation. I've been known to say the scarcity mentality is abundant and the abundance mentality is scarce. And some say that in real estate, I was the first one to point out back in 2015 that real estate pays five ways. Another that I have is a critique of delayed gratification. Keith Weinhold (00:37:31) - Now, some delayed gratification is okay early on in your life, but I've said too much delayed gratification becomes denied gratification. Here on Earth, you live just one life. Hey. And the other day, an entrepreneurial friend. I don't know. He seemed to think that I have the right life balance. I'm not sure if that's true or not, but here's what I told him. And I think he said this because he often sees me out to exercising and things. I told him I give my best to exercise. Business only gets left over time. That's because exercise is hard and making money is easy. Yeah, there it is. That's my take on that. And that's it for today. I hope that you got some learning, some perspective, a few laughs and that some thought was spurred inside your mind in order to give you at least one big, rich novel takeaway here. And it's probably best for you to refer back to this episode of quotes, maxims, and aphorisms. At times when you're feeling shaky about your investment decision making, or just other times of uncertainty. Keith Weinhold (00:38:49) - Until next week, I'm your host, Keith Reinhold, and there's something else that I've been known to say. Don't quit your day. Drink. Speaker 6 (00:39:00) - Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get Rich education LLC exclusively. Keith Weinhold (00:39:28) - The preceding program was brought to you by your home for wealth building. Get rich education.com.
Today's Sponsor: Zenni Opticalhttps://thisistheconversationproject.com/zenni Today's Rundown:Man kills woman Uber driver in grisly shooting after scam caller triggered tragedyhttps://lawandcrime.com/crime/man-kills-woman-uber-driver-in-grisly-shooting-after-scam-caller-triggered-tragedy-police/ Second high-profile stabbing to rock Sydney in recent days is declared a terrorist attackhttps://apnews.com/article/australia-church-stabbing-bishop-emannuel-126a140f1a38aeb9d63b2c7b744f588f TikTok star Kyle Marisa Roth dies at 36https://www.nbcnews.com/news/us-news/tiktok-star-kyle-marisa-roth-dead-36-rcna147979 Prince William to resume royal duties after Princess Kate's cancer diagnosishttps://www.nbcnews.com/news/world/prince-william-resume-royal-duties-princess-kate-cancer-diagnosis-rcna147978 Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costshttps://finance.yahoo.com/news/red-lobster-considers-bankruptcy-deal-194400918.html The University of Southern California cancels its Muslim valedictorian's commencement speech, citing safety concernshttps://www.cnn.com/2024/04/16/us/usc-valedictorian-commencement-speech-canceled/index.html 30-pound cat nicknamed ‘Thicken Nugget' is swimming his way to his goal weight after being surrenderedhttps://nypost.com/2024/04/12/lifestyle/30-pound-cat-nicknamed-thicken-nugget-is-swimming-his-way-to-his-goal-weight-after-being-surrendered/?utm_source=facebook&sr_share=facebook&utm_campaign=nypost&utm_medium=social&fbclid=IwAR1IxfAT5oQKs9otLb97NPzgPb4-VG-GRbCf0dCcOMj2NyAQb2tEPhhtzQM Jelly Roll sued by Pennsylvania wedding band Jellyroll over trademarkhttps://www.usatoday.com/story/entertainment/celebrities/2024/04/16/jelly-roll-pennsylvania-wedding-band-trademark-lawsuit/73339344007/?tbref=hp Website: http://thisistheconversationproject.com Facebook: http://facebook.com/thisistheconversationproject Twitter: http://twitter.com/th_conversation TikTok: http://tiktok.com/@theconversationproject YouTube: http://thisistheconversationproject.com/youtube Podcast: http://thisistheconversationproject.com/podcasts #yournewssidepiece #coffeechat #morningnews ONE DAY OLDER ON APRIL 17:Jennifer Garner (52)Victoria Beckham (50)Rooney Mara (39) WHAT HAPPENED TODAY:1964: The FBI lab reported that it could not determine the lyrics on the Kingmen's recording “Louie Louie.”1973: Federal Express delivered its first package.2014: NASA's Kepler space observatory confirmed the discovery of the first Earth-size planet in the habitable zone of another star. WORD OF THE DAY: vestibule / [ ves-tuh-byool ]a passage, hall, or antechamber between the outer door and the interior parts of a house or buildinghttps://thebigwordsproject.morebettermediacompany.com/vestibule-4-17-2024/ PLUS, TODAY WE CELEBRATE: Kickball Dayhttps://www.daysoftheyear.com/days/kickball-day/ -------------5 Authorities are on the hunt for a pair of men who toppled several ancient rocks at Lake Mead National Park https://www.cnn.com/2024/04/15/travel/lake-mead-rock-formation-vandalism-suspects/index.html7 Fire engulfs Denmark's historic stock exchange building, iconic spire collapses https://www.cnbc.com/2024/04/16/fire-breaks-out-at-denmarks-historic-stock-exchange-building.html9 Kirsten Dunst says she ‘didn't even think to ask' about Hollywood's gender pay gap https://www.theguardian.com/film/2024/apr/03/kirsten-dunst-says-she-didnt-even-think-to-ask-about-hollywoods-gender-pay-gap#:~:text=Dunst%20previously%20commented%20on%20the,second%20Spider%2DMan%20poster%3F%20%E2%80%A612 NCAA sanctions Michigan with probation and recruiting penalties for football violations https://www.usatoday.com/story/sports/ncaaf/bigten/2024/04/16/michigan-ncaa-sanctions-recruiting-violations-jim-harbaugh/73342698007/13 HSBC lays off at least a dozen Asia dealmakers amid weaker activities, sources say http://reut.rs/4aTvnnR14 Flame is lit for Paris 2024 in choreographed event in the birthplace of the ancient Olympics https://us.cnn.com/2024/04/16/sport/paris-2024-olympic-flame-lit-spt-intl/index.html15 Ship that caused the Baltimore bridge collapse had apparent electrical issues while still docked https://apnews.com/article/baltimore-bridge-collapse-fbi-investiagation-58188d524035c756872603055f309c78----------- ONE DAY OLDER ON APRIL 15:Emma Thompson (65)Emma Watson (34)Maisie Williams (27) WHAT HAPPENED TODAY:1865: Abraham Lincoln died after being shot the previous evening by John Wilkes Booth. Andrew Johnson became the 17th President of the United States.1955: Ray Kroc opened his first franchise of McDonald's restaurant in Des Plaines, Illinois.2010: Volcanic ash from the eruption of Eyjafjallajökull in Iceland lead to the closure of airspace over most of Europe. WORD OF THE DAY: scarce / [ skairs ]deficient in quantity or number compared with the demandhttps://thebigwordsproject.morebettermediacompany.com/scarce-4-15-2024/ PLUS, TODAY WE CELEBRATE: Income Tax Pay Dayhttps://www.irs.gov/filing/individuals/when-to-fileONE DAY OLDER ON APRIL 16Kareem Abdul-Jabbar (77)Jon Cryer (60)Anya Taylor-Joy (28) WHAT HAPPENED TODAY:1947: Bernard Baruch coined the term “Cold War” to describe the relationship between the United States and the Soviet Union.2003: Michael Jordan played his last NBA game with the Washington Wizards, who lost to the Philadelphia 76ers, 107-87.2018: Kendrick Lamar became the first rapper and non-classical or jazz musician to win the Pulitzer Prize for music with his album Damn. WORD OF TEH DAY: belabour / [ bəˈlābər ] to explain something more than necessary https://thebigwordsproject.morebettermediacompany.com/?p=160It's important to provide clear instructions without belabouring every detail, to maintain the attention and interest of the audience. PLUS, TODAY WE CELEBRATE: Eggs Benedict Dayhttps://www.nationaldaycalendar.com/national-day/national-eggs-benedict-day-april-16 ONE DAY OLDER ON APRIL 17:Jennifer Garner (52)Victoria Beckham (50)Rooney Mara (39) WHAT HAPPENED TODAY:1964: The FBI lab reported that it could not determine the lyrics on the Kingmen's recording “Louie Louie.”1973: Federal Express delivered its first package.2014: NASA's Kepler space observatory confirmed the discovery of the first Earth-size planet in the habitable zone of another star. WORD OF THE DAY: vestibule / [ ves-tuh-byool ]a passage, hall, or antechamber between the outer door and the interior parts of a house or buildinghttps://thebigwordsproject.morebettermediacompany.com/vestibule-4-17-2024/ PLUS, TODAY WE CELEBRATE: Kickball Dayhttps://www.daysoftheyear.com/days/kickball-day/
Today's Sponsor: Zenni Opticalhttps://thisistheconversationproject.com/zenni Today's Rundown:CBS Pulls The Plug On Billy Joel At Worst Possible Moment, And Fans Are So Pissedhttps://www.huffpost.com/entry/billy-joel-concert-cut-cbs_n_661cadb5e4b0f709554b00b7 Caitlin Clark taken No. 1 in the https://youtube.com/live/dmWRadXXAIAby the Indiana Fever, as expectedhttps://apnews.com/article/wnba-draft-2024-caitlin-clark-6aa5dddaedbe7da5a2b147da6d39e832 The Chicago Sky owned two picks in the first round of the WNBA Draft, and they put them to maximum effect, selecting South Carolina center Kamilla Cardoso and LSU forward Angel Reese. Ohio River near Pittsburgh is closed as crews search for missing barge, one of 26 that broke loosehttps://apnews.com/article/barges-break-loose-ohio-river-pittsburgh-09395678882415fa7864a4cd720d6e0c With Disastrous Ratings, Charles Barkley and Gayle King Bid Farewell to First “King Charles” Seasonhttps://www.essentiallysports.com/nba-legends-basketball-news-with-disastrous-ratings-charles-barkley-and-gayle-king-bid-farewell-to-first-king-charles-season/ Gun supervisor for ‘Rust' movie gets 18 months in prison for fatal shooting by Alec Baldwin on sethttps://apnews.com/article/rust-alec-baldwin-shooting-armorer-sentencing-627373b6fd8aabe1f25050943777daba Tesla lays off ‘more than 10%' of its global workforcehttps://electrek.co/2024/04/15/tesla-lays-off-more-than-10-of-its-global-workforce/ Survivors of 2017 Ariana Grande U.K. concert bombing take legal action against intelligence agencyhttps://www.nbcnews.com/news/world/survivors-2017-ariana-grande-uk-concert-bombing-legal-action-rcna147771 Nebraska teacher arrested after police find her, teen student naked in carhttps://www.usatoday.com/story/news/nation/2024/04/15/omaha-nebraska-teacher-erin-ward-arrested-accused-sexual-abuse/73325712007/ Website: http://thisistheconversationproject.com Facebook: http://facebook.com/thisistheconversationproject Twitter: http://twitter.com/th_conversation TikTok: http://tiktok.com/@theconversationproject YouTube: http://thisistheconversationproject.com/youtube Podcast: http://thisistheconversationproject.com/podcasts #yournewssidepiece #coffeechat #morningnews ONE DAY OLDER ON APRIL 16Kareem Abdul-Jabbar (77)Jon Cryer (60)Anya Taylor-Joy (28) WHAT HAPPENED TODAY:1947: Bernard Baruch coined the term “Cold War” to describe the relationship between the United States and the Soviet Union.2003: Michael Jordan played his last NBA game with the Washington Wizards, who lost to the Philadelphia 76ers, 107-87.2018: Kendrick Lamar became the first rapper and non-classical or jazz musician to win the Pulitzer Prize for music with his album Damn. WORD OF TEH DAY: belabour / [ bəˈlābər ] to explain something more than necessary https://thebigwordsproject.morebettermediacompany.com/?p=160 PLUS, TODAY WE CELEBRATE: Eggs Benedict Dayhttps://www.nationaldaycalendar.com/national-day/national-eggs-benedict-day-april-16
A nearly homeless supreme hostess gets back to what she does best at a luxury hotel, and many don't want to miss out.January 20th – February 1st, 1933, Cobina Wright reorients her new life at the Waldorf-Astoria hotel hostessing several activities like the Beaux Arts & Charity Balls and resuming her Supper Club to great success. One attendee is making an even bigger splash as he defies Ellis Island to re-enter the U.S. and attend his favorite annual ball.Other people and subjects include: Barbara Hutton, Prince Alexis Mdivani, James HR Cromwell aka “Jimmy,” William May Wright aka “Bill,” Alva Vanderbilt Belmont, Consuelo Vanderbilt, Balsan, Doris Duke, Lil' Cobina Wright, Jr., Prince Serge Obolensky, Josep Maria Sert, Princess Roussadana “Roussie” Mdivani Sert, Prince Michael Dmitri Alexandrovich Obolenski-Romanoff (Oblensky-Romanov) – Hershel Geguzin – Harry Gerguson – Ferguson, Jessie Woolworth Donahue, Brenda Frazier, Diana Barrymore, Gloria Vanderbilt, Reginald Vanderbilt, Alice Vanderbilt, Florence Vanderbilt Whitney, Grace Wilson Vanderbilt, Virginia “Birdie” Graham Fair Vanderbilt, President Herbert Hoover, Prince David – Prince of Wales – King Edward III – Duke of Windsor, Count Henri de Castellane, Countess Silvia de Rivas de Castellane, Lucius Boomer, Nancy Randolph, Frank Costello, Charles “Lucky” Luciano, Deems Taylor, Arturo Toscanini, Cecil Beaton, Mr. & Mrs. Bernard Baruch, Mr. & Mrs. Jay Gould, Beatrice Lillie, Fannie Brice, Noel Coward, Cole Porter, George Eastman, Rockwell Kent, French Revolution, Russian Revolution, Russian Empire, Bolshevik Russia, Peter the Great, Catherine the Great, Peter III, Empress Elizabeth of Russia, Tsar Paul I of Russia, royal pretenders, orphan, Scepan Mali – Stephen the Little of Montenegro, Princess Vladimir – Princess Augusta Tarkanova, Cossack Yemelyan Pugachev, Pugachev Rebellion, Kondrati Selivanov, Skoptsy sect, castration, Leon Trotsky, Franziska Schanzkowska – Anna Anderson – Grand Duchess Anastasia Romanov, Grand Duke Kirill Vladimirovich, James “One-Eyed” Connelly, Eton, Oxford, Cambridge, Heidelberg, Princeton, Yale, Harvard, Waldorf-Astoria, New York's the Tombs, jail, hospitals, ocean liners, Olympic, Ile de France, London, Paris, Ellis Island, New York, Boston, Chicago, Los Angeles, Hollywood, Hillsboro, Illinois, Bucharest, Romania, Latvia, Romanoff restaurant, Noodles Romanoff - beef stroganoff, Jayne Mansfield, Sophia Loren, Weekend in Havana film, Hulu's The Great series, FX's Feud Season 2: Truman Capote vs. The Swans, Truman Capote, William “Bill” Paley, Babe Paley, Princess Margaret, Prince Charles – Prince of Wales – King Charles III, Naomi Watts, Treat Williams, Elle Fanning, Nicholas Hoult, frequency illusion – Baader-Meinhof Phenomenon--Extra Notes / Call to Action:Come visit As The Money Burns via social media and share your own related storiesShare, like, subscribe--Archival Music provided by Past Perfect Vintage Music, www.pastperfect.com.Opening Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance BandsSection 1 Music: One In A Million by Brian Lawrance, Album The Great British Dance BandsSection 2 Music: Royal Garden Blues by Benny Carter, Album Perfect JazzSection 3 Music: Organ Grinder's Swing by Jack Payne, Album The Great British Dance BandsEnd Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands--https://asthemoneyburns.com/TW / IG – @asthemoneyburnsFacebook – https://www.facebook.com/asthemoneyburns/
In part 2 of this series, Texe discusses how people such as Colonel E. Mandel House, Bernard Baruch, and David Rockefeller, have labored mightily to end America's freedoms, set up a borderless world, and enthrone a "money-clad" world dictatorship. Discover who the top names are in the CFR, TLC, and the Council of the Americas and why Christian pastors and evangelists have been recruited in a bid to merge all the worldâs religions into one.Website: thefacthunter.comEmail: thefacthunter.comSnail Mail:George HobbsPO Box 109Goldsboro, MD 21636Copyright Disclaimer: - Under section 107 of the copyright Act 1976, allowance is mad for FAIR USE for purpose such a as criticism, comment, news reporting, teaching, scholarship and research. Fair use is a use permitted by copyright statues that might otherwise be infringing. Non- Profit, educational or personal use tips the balance in favor of FAIR USE.
In this episode, Texe discusses how people such as Colonel E. Mandel House, Bernard Baruch, and David Rockefeller, have labored mightily to end America's freedoms, set up a borderless world, and enthrone a "money-clad" world dictatorship. Discover who the top names are in the CFR, TLC, and the Council of the Americas and why Christian pastors and evangelists have been recruited in a bid to merge all the worldâs religions into one.Website: thefacthunter.comEmail: thefacthunter.comSnail Mail:George HobbsPO Box 109Goldsboro, MD 21636Copyright Disclaimer: - Under section 107 of the copyright Act 1976, allowance is mad for FAIR USE for purpose such a as criticism, comment, news reporting, teaching, scholarship and research. Fair use is a use permitted by copyright statues that might otherwise be infringing. Non- Profit, educational or personal use tips the balance in favor of FAIR USE.
I've noticed that as my businesses have grown, the cheers of support have started to wane. Not because my achievements are unworthy, but because my rise has triggered envy in some. I've come to realize that my success serves as a mirror, reflecting back the dreams others have shelved. This tough realization is what I'm discussing in this episode, along with how it led me to understand that my journey is about me and not about others. Bernard Baruch's quote, “Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind,” has guided me through this journey. It's a liberating philosophy that has taught me not to care so much about what others think. It's easy to get caught up in justifying your actions to others, but if you are content with your success, you won't feel the need to disparage others or their success. Focusing on customers and the services I provide has been my key to success. Winners focus on winning, and in our field, focusing on the patients is the way to win. Competitors who focus on you are missing the mark because they are not focusing on their customers. In the world of aesthetics, the pie is much larger than anyone perceives it to be. Scarcity is often a mindset, not a reality. It's about fostering an abundance mindset. This mindset, regardless of the situation, brings abundance to your life. So, focus on your race, at your pace, and keep moving forward with a team that believes in your vision. This journey is yours. It's personal, unique, and beautiful. Keep your head high, your spirit unshaken, and your heart open to those who truly support you.
Sapkınlıkta azgınlaşmış Siyonistlerin, şu son on üç günde Gazze'de katlettikleri Filistinli yavruların görüntüleri karşısında vicdan ehlinin susması elbette mümkün değildir ve elbette gerek Gazze'deki mazlumlar, gerekse yürekleri onlarınkiyle birlikte atanların salt akıllarını muhafaza edebilmek için Siyonistlere sövmelerine ahlâkî ruhsat da verilmiştir. Fakat yanan yüreklerin biraz olsun soğuması için yapılan sövgüler sonuçta hiçbir problemi halletmez. Çünkü onunla ne olayların sebeplerini açıklamış ne de ilgili problemleri halletmiş oluruz. Ayrıca salt sövme yoluyla Siyonist-severlerin seviyesizliğine inmiş, gerçekte onların bu yolla seviyesizliği de aşarak bir çukurluğu temsil ettiklerini ıskalamış oluruz. Bu sebeple, Filistin dostlarının sosyal medyadaki hâkim tahkirci ağza kapılarak sövgü sallamak yerine, bunu gerektiren olgu ve olayların gerçek yüzünü bilmeleri öncelik taşır. Örneğin, kukla bir BM, Yahudi olduğunu söyleyerek dünyayı iki kutuplu bir düşmanlığa teşvik eden bir Blinken ve başta BBC olmak üzere Batı medyasında gerçekleri gizleyerek katil Siyonistleri düzmece haberlerle aklayanlar, özü itibariyle terbiye edilmiş köpeklerin sahiplerine hırlamamaları gerçeğine tabidirler. Ancak söyleyebilmek için Siyonist-BM-ABD'nin et-tırnak müşterekliğine dönüşen ilişkisini bilmek gerekir. Bunun bir örneğini okurlarıma George Armstrong'un Rothschild –Para İmparatorluğu– Derin Yahudi Devleti adlı kitabından ben nakledeyim, benzerleri ise okurlarım kendileri bulacaklardır: “Dünya Savaşı sona erdiğinde Rothschild ailesi ve temsilcileri arta kalan yıkıntıları ele geçirmek üzere harekete geçtiler. Yahudi ‘âkil adamı' Bernard Baruch, Başkan Wilson'un danışmanı olarak tüm kabinenin karşı çıkmasına rağmen Fransa'daki Barış Konferansı'na katılmaya ikna etti. ‘Akil adam' Baruch savaş süresince Silah Endüstrisi Komisyonun Başkanlığını yapmaktaydı ve tüm alım satımlardan pay almaktaydı. On ABD başkanına Beyaz Saray'da mübaşirlik yapan Ike Hoover, hatıralarında ‘Bugün Başkan ve eşi Bayan Wilson ile Bay Baruch'un kiraladığı kır evine yemeğe gittik. Her birimiz sanki birbirimizden kaçar gibi ayrı yerlere dağıldık. Aslında hepimiz birbirimize bakmaktan sıkılmıştık. Akşam yemeğinde hepimizin birbirimizden sıkıldığımızı söylediğimde masada büyük bir kahkaha koptu!' demektedir. Bu işe yaramaz Yahudi neden kır evi kiralamıştı veya neden Versay Sarayı'nın yanına Milletler Cemiyeti'nin kurulmasına neden olan barış görüşmeleri sırasında adeta kamp kurmuştu? Bu adamın Milletler Cemiyeti'yle ne alakası olabilirdi? Barış Anlaşması'nın şartları ve Milletler Cemiyeti'nin prensipleri Başkan Wilson'ın Amerika'yı, Lloyd George'un İngiltere'yi ve Georges Clemenceau'nun Fransa'yı temsil ettiği toplantılarda kabul edilmişti. Ama tüm bunların arka planında çalışan ‘Siyon kanının büyük despotu' Yahudi sermayesi ve ırkının çabaları vardı.
Tháng 1/2007, Alpha Books đã xuất bản cuốn Giàu từ chứng khoán: Bài học từ những nhà kinh doanh chứng khoán thành công nhất mọi thời đại của tác giả John Boik, NXB McGraw-Hill, 2004. Đây là cuốn sách nói về cuộc đời, kinh nghiệm và phương pháp đầu tư đúc kết từ rất nhiều năm lăn lộn trên phố Wall của các nhà kinh doanh chứng khoán xuất sắc nhất trong lịch sử gồm: Jesse Livermore, Bernard Baruch, Gerald Loeb, Nicolas Darvas, và Bill O'Neil. Bài học rút ra từ những thành công, thất bại, thăng trầm của những thiên tài này sẽ rất hữu ích với độc giả. Với Jesse Livermore, bài học đó là: “Chỉ với ý tưởng, anh không thể kiếm được tiền; chỉ khi xác định được đúng hướng thị trường anh mới có thể kiếm được tiền”. Còn Bernard Baruch là: “…ngay cả nếu bạn đúng 3 hoặc 4 lần trong tổng số 10 lần giao dịch thì bạn đã kiếm được khoản tiền khá lớn nếu biết ngừng giao dịch khi thấy mình đang mắc sai lầm.” Gerald M. Loeb: “Thông tin mọi người đều biết không có ý nghĩa nhiều lắm.” Với Nicolas Darvas là: “Không bao giờ có cổ phiếu tốt hoặc xấu mà chỉ có cổ phiếu tăng giá hoặc sụt giá”. Và cuối cùng, William J. O'Neil, người đứng đầu Công ty Nghiên cứu Đầu tư William J. O'Neil và được coi là một “thầy phù thủy của thị trường chứng khoán”, đã đưa ra mô hình lựa chọn cổ phiếu hiệu quả C-A-N-S-L-I-M hiện nay đang được sử dụng rộng rãi: “… với sự kiên trì và làm việc chăm chỉ, mọi thứ đều có thể. Bạn có thể làm được mọi thứ và lòng quyết tâm là yếu tố quan trọng nhất dẫn đến thành công.” Đây là cuốn sách mở đầu cho bộ sách “Giàu từ Chứng khoán” của Alpha Books. Cho đến nay, bộ sách đã gồm 10 cuốn sách tham khảo không thể thiếu về phương pháp kinh doanh chứng khoán của những nhà đầu tư hàngđầu thế giới. Trong vài năm qua, thị trường chứng khoán Việt Nam đã trải qua nhiều biến động, với những giai đoạn liên tục tăng trưởng và trở thành cơn sốt trên toàn quốc, có lúc lại trở nên trầm lắng và rơi vào suy thoái. Nhưng chúng tôi tin rằng, trong bất cứ hoàn cảnh nào, cuốn sách Giàu từ chứng khoán vẫn luôn giữ nguyên giá trị: giúp độc giả Việt Nam có cái nhìn sâu sắc về ngành kinh doanh chứng khoán, hiểu thêm về kiến thức, tư duy và bài học của các thiên tài đầu tư chứng khoán, từ đó đúc rút được những kinh nghiệm quý báu để có thể thành công trong một “lãnh địa” tưởng như đầy may rủi này. Link sách PDF: https://link4m.com/go/qetpz28
It was a tremendous honor & pleasure to interview Richard Rhodes, Pulitzer Prize winning author of The Making of the Atomic BombWe discuss* similarities between AI progress & Manhattan Project (developing a powerful, unprecedented, & potentially apocalyptic technology within an uncertain arms-race situation)* visiting starving former Soviet scientists during fall of Soviet Union* whether Oppenheimer was a spy, & consulting on the Nolan movie* living through WW2 as a child* odds of nuclear war in Ukraine, Taiwan, Pakistan, & North Korea* how the US pulled of such a massive secret wartime scientific & industrial projectWatch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform. Read the full transcript here. Follow me on Twitter for updates on future episodes.Timestamps(0:00:00) - Oppenheimer movie(0:06:22) - Was the bomb inevitable?(0:29:10) - Firebombing vs nuclear vs hydrogen bombs(0:49:44) - Stalin & the Soviet program(1:08:24) - Deterrence, disarmament, North Korea, Taiwan(1:33:12) - Oppenheimer as lab director(1:53:40) - AI progress vs Manhattan Project(1:59:50) - Living through WW2(2:16:45) - Secrecy(2:26:34) - Wisdom & warTranscript(0:00:00) - Oppenheimer movieDwarkesh Patel 0:00:51Today I have the great honor of interviewing Richard Rhodes, who is the Pulitzer Prize-winning author of The Making of the Atomic Bomb, and most recently, the author of Energy, A Human History. I'm really excited about this one. Let's jump in at a current event, which is the fact that there's a new movie about Oppenheimer coming out, which I understand you've been consulted about. What did you think of the trailer? What are your impressions? Richard Rhodes 0:01:22They've really done a good job of things like the Trinity test device, which was the sphere covered with cables of various kinds. I had watched Peaky Blinders, where the actor who's playing Oppenheimer also appeared, and he looked so much like Oppenheimer to start with. Oppenheimer was about six feet tall, he was rail thin, not simply in terms of weight, but in terms of structure. Someone said he could sit in a children's high chair comfortably. But he never weighed more than about 140 pounds and that quality is there in the actor. So who knows? It all depends on how the director decided to tell the story. There are so many aspects of the story that you could never possibly squeeze them into one 2-hour movie. I think that we're waiting for the multi-part series that would really tell a lot more of the story, if not the whole story. But it looks exciting. We'll see. There have been some terrible depictions of Oppenheimer, there've been some terrible depictions of the bomb program. And maybe they'll get this one right. Dwarkesh Patel 0:02:42Yeah, hopefully. It is always great when you get an actor who resembles their role so well. For example, Bryan Cranston who played LBJ, and they have the same physical characteristics of the beady eyes, the big ears. Since we're talking about Oppenheimer, I had one question about him. I understand that there's evidence that's come out that he wasn't directly a communist spy. But is there any possibility that he was leaking information to the Soviets or in some way helping the Soviet program? He was a communist sympathizer, right? Richard Rhodes 0:03:15He had been during the 1930s. But less for the theory than for the practical business of helping Jews escape from Nazi Germany. One of the loves of his life, Jean Tatlock, was also busy working on extracting Jews from Europe during the 30. She was a member of the Communist Party and she, I think, encouraged him to come to meetings. But I don't think there's any possibility whatsoever that he shared information. In fact, he said he read Marx on a train trip between Berkeley and Washington one time and thought it was a bunch of hooey, just ridiculous. He was a very smart man, and he read the book with an eye to its logic, and he didn't think there was much there. He really didn't know anything about human beings and their struggles. He was born into considerable wealth. There were impressionist paintings all over his family apartments in New York City. His father had made a great deal of money cornering the markets on uniform linings for military uniforms during and before the First World War so there was a lot of wealth. I think his income during the war years and before was somewhere around $100,000 a month. And that's a lot of money in the 1930s. So he just lived in his head for most of his early years until he got to Berkeley and discovered that prime students of his were living on cans of god-awful cat food, because they couldn't afford anything else. And once he understood that there was great suffering in the world, he jumped in on it, as he always did when he became interested in something. So all of those things come together. His brother Frank was a member of the party, as was Frank's wife. I think the whole question of Oppenheimer lying to the security people during the Second World War about who approached him and who was trying to get him to sign on to some espionage was primarily an effort to cover up his brother's involvement. Not that his brothers gave away any secrets, I don't think they did. But if the army's security had really understood Frank Oppenheimer's involvement, he probably would have been shipped off to the Aleutians or some other distant place for the duration of the war. And Oppenheimer quite correctly wanted Frank around. He was someone he trusted.(0:06:22) - Was the bomb inevitable?Dwarkesh Patel 0:06:22Let's start talking about The Making of the Bomb. One question I have is — if World War II doesn't happen, is there any possibility that the bomb just never gets developed? Nobody bothers.Richard Rhodes 0:06:34That's really a good question and I've wondered over the years. But the more I look at the sequence of events, the more I think it would have been essentially inevitable, though perhaps not such an accelerated program. The bomb was pushed so hard during the Second World War because we thought the Germans had already started working on one. Nuclear fission had been discovered in Nazi Germany, in Berlin, in 1938, nine months before the beginning of the Second World War in Europe. Technological surveillance was not available during the war. The only way you could find out something was to send in a spy or have a mole or something human. And we didn't have that. So we didn't know where the Germans were, but we knew that the basic physics reaction that could lead to a bomb had been discovered there a year or more before anybody else in the West got started thinking about it. There was that most of all to push the urgency. In your hypothetical there would not have been that urgency. However, as soon as good physicists thought about the reaction that leads to nuclear fission — where a slow room temperature neutron, very little energy, bumps into the nucleus of a uranium-235 atom it would lead to a massive response. Isidore Rabi, one of the great physicists of this era, said it would have been like the moon struck the earth. The reaction was, as physicists say, fiercely exothermic. It puts out a lot more energy than you have to use to get it started. Once they did the numbers on that, and once they figured out how much uranium you would need to have in one place to make a bomb or to make fission get going, and once they were sure that there would be a chain reaction, meaning a couple of neutrons would come out of the reaction from one atom, and those two or three would go on and bump into other Uranium atoms, which would then fission them, and you'd get a geometric exponential. You'd get 1, 2, 4, 8, 16, 32, and off of there. For most of our bombs today the initial fission, in 80 generations, leads to a city-busting explosion. And then they had to figure out how much material they would need, and that's something the Germans never really figured out, fortunately for the rest of us. They were still working on the idea that somehow a reactor would be what you would build. When Niels Bohr, the great Danish physicist, escaped from Denmark in 1943 and came to England and then United States, he brought with him a rough sketch that Werner Heisenberg, the leading scientist in the German program, had handed him in the course of trying to find out what Bohr knew about what America was doing. And he showed it to the guys at Los Alamos and Hans Bethe, one of the great Nobel laureate physicists in the group, said — “Are the Germans trying to throw a reactor down on us?” You can make a reactor blow up, we saw that at Chernobyl, but it's not a nuclear explosion on the scale that we're talking about with the bomb. So when a couple of these emigres Jewish physicists from Nazi Germany were whiling away their time in England after they escaped, because they were still technically enemy aliens and therefore could not be introduced to top secret discussions, one of them asked the other — “How much would we need of pure uranium-235, this rare isotope of uranium that chain reacts? How much would we need to make a bomb?” And they did the numbers and they came up with one pound, which was startling to them. Of course, it is more than that. It's about 125 pounds, but that's just a softball. That's not that much material. And then they did the numbers about what it would cost to build a factory to pull this one rare isotope of uranium out of the natural metal, which has several isotopes mixed together. And they figured it wouldn't cost more than it would cost to build a battleship, which is not that much money for a country at war. Certainly the British had plenty of battleships at that point in time. So they put all this together and they wrote a report which they handed through their superior physicists at Manchester University where they were based, who quickly realized how important this was. The United States lagged behind because we were not yet at war, but the British were. London was being bombed in the blitz. So they saw the urgency, first of all, of eating Germany to the punch, second of all of the possibility of building a bomb. In this report, these two scientists wrote that no physical structure came to their minds which could offer protection against a bomb of such ferocious explosive power. This report was from 1940 long before the Manhattan Project even got started. They said in this report, the only way we could think of to protect you against a bomb would be to have a bomb of similar destructive force that could be threatened for use if the other side attacked you. That's deterrence. That's a concept that was developed even before the war began in the United States. You put all those pieces together and you have a situation where you have to build a bomb because whoever builds the first bomb theoretically could prevent you from building more or prevent another country from building any and could dominate the world. And the notion of Adolf Hitler dominating the world, the Third Reich with nuclear weapons, was horrifying. Put all that together and the answer is every country that had the technological infrastructure to even remotely have the possibility of building everything you'd have to build to get the material for a bomb started work on thinking about it as soon as nuclear fusion was announced to the world. France, the Soviet Union, Great Britain, the United States, even Japan. So I think the bomb would have been developed but maybe not so quickly. Dwarkesh Patel 0:14:10In the book you talk that for some reason the Germans thought that the critical mass was something like 10 tons, they had done some miscalculation.Richard Rhodes 0:14:18A reactor. Dwarkesh Patel 0:14:19You also have some interesting stories in the book about how different countries found out the Americans were working on the bomb. For example, the Russians saw that all the top physicists, chemists, and metallurgists were no longer publishing. They had just gone offline and so they figured that something must be going on. I'm not sure if you're aware that while the subject of the Making of the Atomic Bomb in and of itself is incredibly fascinating, this book has become a cult classic in AI. Are you familiar with this? Richard Rhodes 0:14:52No. Dwarkesh Patel 0:14:53The people who are working on AI right now are huge fans of yours. They're the ones who initially recommended the book to me because the way they see the progress in the field reminded them of this book. Because you start off with these initial scientific hints. With deep learning, for example, here's something that can teach itself any function is similar to Szilárd noticing the nuclear chain reaction. In AI there's these scaling laws that say that if you make the model this much bigger, it gets much better at reasoning, at predicting text, and so on. And then you can extrapolate this curve. And you can see we get two more orders of magnitude, and we get to something that looks like human level intelligence. Anyway, a lot of the people who are working in AI have become huge fans of your book because of this reason. They see a lot of analogies in the next few years. They must be at page 400 in their minds of where the Manhattan Project was.Richard Rhodes 0:15:55We must later on talk about unintended consequences. I find the subject absolutely fascinating. I think my next book might be called Unintended Consequences. Dwarkesh Patel 0:16:10You mentioned that a big reason why many of the scientists wanted to work on the bomb, especially the Jewish emigres, was because they're worried about Hitler getting it first. As you mentioned at some point, 1943, 1944, it was becoming obvious that Hitler, the Nazis were not close to the bomb. And I believe that almost none of the scientists quit after they found out that the Nazis weren't close. So why didn't more of them say — “Oh, I guess we were wrong. The Nazis aren't going to get it. We don't need to be working on it.”?Richard Rhodes 0:16:45There was only one who did that, Joseph Rotblat. In May of 1945 when he heard that Germany had been defeated, he packed up and left. General Groves, the imperious Army Corps of Engineers General who ran the entire Manhattan Project, was really upset. He was afraid he'd spill the beans. So he threatened to have him arrested and put in jail. But Rotblat was quite determined not to stay any longer. He was not interested in building bombs to aggrandize the national power of the United States of America, which is perfectly understandable. But why was no one else? Let me tell it in terms of Victor Weisskopf. He was an Austrian theoretical physicist, who, like the others, escaped when the Nazis took over Germany and then Austria and ended up at Los Alamos. Weisskopf wrote later — “There we were in Los Alamos in the midst of the darkest part of our science.” They were working on a weapon of mass destruction, that's pretty dark. He said “Before it had almost seemed like a spiritual quest.” And it's really interesting how different physics was considered before and after the Second World War. Before the war, one of the physicists in America named Louis Alvarez told me when he got his PhD in physics at Berkeley in 1937 and went to cocktail parties, people would ask, “What's your degree in?” He would tell them “Chemistry.” I said, “Louis, why?” He said, “because I don't really have to explain what physics was.” That's how little known this kind of science was at that time. There were only about 1,000 physicists in the whole world in 1900. By the mid-30s, there were a lot more, of course. There'd been a lot of nuclear physics and other kinds of physics done by them. But it was still arcane. And they didn't feel as if they were doing anything mean or dirty or warlike at all. They were just doing pure science. Then nuclear fission came along. It was publicized worldwide. People who've been born since after the Second World War don't realize that it was not a secret at first. The news was published first in a German chemistry journal, Die Naturwissenschaften, and then in the British journal Nature and then in American journals. And there were headlines in the New York Times, the Los Angeles Times, the Chicago Tribune, and all over the world. People had been reading about and thinking about how to get energy out of the atomic nucleus for a long time. It was clear there was a lot there. All you had to do was get a piece of radium and see that it glowed in the dark. This chunk of material just sat there, you didn't plug it into a wall. And if you held it in your hand, it would burn you. So where did that energy come from? The physicists realized it all came from the nucleus of the atom, which is a very small part of the whole thing. The nucleus is 1/100,000th the diameter of the whole atom. Someone in England described it as about the size of a fly in a cathedral. All of the energy that's involved in chemical reactions, comes from the electron cloud that's around the nucleus. But it was clear that the nucleus was the center of powerful forces. But the question was, how do you get them out? The only way that the nucleus had been studied up to 1938 was by bombarding it with protons, which have the same electric charge as the nucleus, positive charge, which means they were repelled by it. So you had to accelerate them to high speeds with various versions of the big machines that we've all become aware of since then. The cyclotron most obviously built in the 30s, but there were others as well. And even then, at best, you could chip a little piece off. You could change an atom one step up or one step down the periodic table. This was the classic transmutation of medieval alchemy sure but it wasn't much, you didn't get much out. So everyone came to think of the nucleus of the atom like a little rock that you really had to hammer hard to get anything to happen with it because it was so small and dense. That's why nuclear fission, with this slow neutron drifting and then the whole thing just goes bang, was so startling to everybody. So startling that when it happened, most of the physicists who would later work on the bomb and others as well, realized that they had missed the reaction that was something they could have staged on a lab bench with the equipment on the shelf. Didn't have to invent anything new. And Louis Alvarez again, this physicist at Berkeley, he said — “I was getting my hair cut. When I read the newspaper, I pulled off the robe and half with my hair cut, ran to my lab, pulled some equipment off the shelf, set it up and there it was.” So he said, “I discovered nuclear fission, but it was two days too late.” And that happened all over. People were just hitting themselves on the head and saying, well, Niels Bohr said, “What fools we've all been.” So this is a good example of how in science, if your model you're working with is wrong it doesn't lead you down the right path. There was only one physicist who really was thinking the right way about the uranium atom and that was Niels Bohr. He wondered, sometime during the 30s, why uranium was the last natural element in the periodic table? What is different about the others that would come later? He visualized the nucleus as a liquid drop. I always like to visualize it as a water-filled balloon. It's wobbly, it's not very stable. The protons in the nucleus are held together by something called the strong force, but they still have the repellent positive electric charge that's trying to push them apart when you get enough of them into a nucleus. It's almost a standoff between the strong force and all the electrical charge. So it is like a wobbly balloon of water. And then you see why a neutron just falling into the nucleus would make it wobble around even more and in one of its configurations, it might take a dumbbell shape. And then you'd have basically two charged atoms just barely connected, trying to push each other apart. And often enough, they went the whole way. When they did that, these two new elements, half the weight of uranium, way down the periodic table, would reconfigure themselves into two separate nuclei. And in doing so, they would release some energy. And that was the energy that came out of the reaction and there was a lot of energy. So Bohr thought about the model in the right way. The chemists who actually discovered nuclear fusion didn't know what they were gonna get. They were just bombarding a solution of uranium nitrate with neutrons thinking, well, maybe we can make a new element, maybe a first man-made element will come out of our work. So when they analyzed the solution after they bombarded it, they found elements halfway down the periodic table. They shouldn't have been there. And they were totally baffled. What is this doing here? Do we contaminate our solution? No. They had been working with a physicist named Lisa Meitner who was a theoretical physicist, an Austrian Jew. She had gotten out of Nazi Germany not long before. But they were still in correspondence with her. So they wrote her a letter. I held that letter in my hand when I visited Berlin and I was in tears. You don't hold history of that scale in your hands very often. And it said in German — “We found this strange reaction in our solution. What are these elements doing there that don't belong there?” And she went for a walk in a little village in Western Sweden with her nephew, Otto Frisch, who was also a nuclear physicist. And they thought about it for a while and they remembered Bohr's model, the wobbly water-filled balloon. And they suddenly saw what could happen. And that's where the news came from, the physics news as opposed to the chemistry news from the guys in Germany that was published in all the Western journals and all the newspapers. And everybody had been talking about, for years, what you could do if you had that kind of energy. A glass of this material would drive the Queen Mary back and forth from New York to London 20 times and so forth, your automobile could run for months. People were thinking about what would be possible if you had that much available energy. And of course, people had thought about reactors. Robert Oppenheimer was a professor at Berkeley and within a week of the news reaching Berkeley, one of his students told me that he had a drawing on the blackboard, a rather bad drawing of both a reactor and a bomb. So again, because the energy was so great, the physics was pretty obvious. Whether it would actually happen depended on some other things like could you make it chain react? But fundamentally, the idea was all there at the very beginning and everybody jumped on it. Dwarkesh Patel 0:27:54The book is actually the best history of World War II I've ever read. It's about the atomic bomb, but it's interspersed with the events that are happening in World War II, which motivate the creation of the bomb or the release of it, why it had to be dropped on Japan given the Japanese response. The first third is about the scientific roots of the physics and it's also the best book I've read about the history of science in the early 20th century and the organization of it. There's some really interesting stuff in there. For example, there was a passage where you talk about how there's a real master apprentice model in early science where if you wanted to learn to do this kind of experimentation, you will go to Amsterdam where the master of it is residing. It's much more individual focused. Richard Rhodes 0:28:58Yeah, the whole European model of graduate study, which is basically the wandering scholar. You could go wherever you wanted to and sign up with whoever was willing to have you sign up. (0:29:10) - Firebombing vs nuclear vs hydrogen bombsDwarkesh Patel 0:29:10But the question I wanted to ask regarding the history you made of World War II in general is — there's one way you can think about the atom bomb which is that it is completely different from any sort of weaponry that has been developed before it. Another way you can think of it is there's a spectrum where on one end you have the thermonuclear bomb, in the middle you have the atom bomb, and on this end you have the firebombing of cities like Hamburg and Dresden and Tokyo. Do you think of these as completely different categories or does it seem like an escalating gradient to you? Richard Rhodes 0:29:47I think until you get to the hydrogen bomb, it's really an escalating gradient. The hydrogen bomb can be made arbitrarily large. The biggest one ever tested was 56 megatons of TNT equivalent. The Soviet tested that. That had a fireball more than five miles in diameter, just the fireball. So that's really an order of magnitude change. But the other one's no and in fact, I think one of the real problems, this has not been much discussed and it should be, when American officials went to Hiroshima and Nagasaki after the war, one of them said later — “I got on a plane in Tokyo. We flew down the long green archipelago of the Japanese home island. When I left Tokyo, it was all gray broken roof tiles from the fire bombing and the other bombings. And then all this greenery. And then when we flew over Hiroshima, it was just gray broken roof tiles again.” So the scale of the bombing with one bomb, in the case of Hiroshima, was not that different from the scale of the fire bombings that had preceded it with tens of thousands of bombs. The difference was it was just one plane. In fact, the people in Hiroshima didn't even bother to go into their bomb shelters because one plane had always just been a weather plane. Coming over to check the weather before the bombers took off. So they didn't see any reason to hide or protect themselves, which was one of the reasons so many people were killed. The guys at Los Alamos had planned on the Japanese being in their bomb shelters. They did everything they could think of to make the bomb as much like ordinary bombing as they could. And for example, it was exploded high enough above ground, roughly 1,800 yards, so that the fireball that would form from this really very small nuclear weapon — by modern standards — 15 kilotons of TNT equivalent, wouldn't touch the ground and stir up dirt and irradiate it and cause massive radioactive fallout. It never did that. They weren't sure there would be any fallout. They thought the plutonium and the bomb over Nagasaki now would just kind of turn into a gas and blow away. That's not exactly what happened. But people don't seem to realize, and it's never been emphasized enough, these first bombs, like all nuclear weapons, were firebombs. Their job was to start mass fires, just exactly like all the six-pound incendiaries that had been destroying every major city in Japan by then. Every major city above 50,000 population had already been burned out. The only reason Hiroshima and Nagasaki were around to be atomic bombed is because they'd been set aside from the target list, because General Groves wanted to know what the damage effects would be. The bomb that was tested in the desert didn't tell you anything. It killed a lot of rabbits, knocked down a lot of cactus, melted some sand, but you couldn't see its effect on buildings and on people. So the bomb was deliberately intended to be as much not like poison gas, for example, because we didn't want the reputation for being like people in the war in Europe during the First World War, where people were killing each other with horrible gasses. We just wanted people to think this was another bombing. So in that sense, it was. Of course, there was radioactivity. And of course, some people were killed by it. But they calculated that the people who would be killed by the irradiation, the neutron radiation from the original fireball, would be close enough to the epicenter of the explosion that they would be killed by the blast or the flash of light, which was 10,000 degrees. The world's worst sunburn. You've seen stories of people walking around with their skin hanging off their arms. I've had sunburns almost that bad, but not over my whole body, obviously, where the skin actually peeled blisters and peels off. That was a sunburn from a 10,000 degree artificial sun. Dwarkesh Patel 0:34:29So that's not the heat, that's just the light? Richard Rhodes 0:34:32Radiant light, radiant heat. 10,000 degrees. But the blast itself only extended out a certain distance, it was fire. And all the nuclear weapons that have ever been designed are basically firebombs. That's important because the military in the United States after the war was not able to figure out how to calculate the effects of this weapon in a reliable way that matched their previous experience. They would only calculate the blast effects of a nuclear weapon when they figured their targets. That's why we had what came to be called overkill. We wanted redundancy, of course, but 60 nuclear weapons on Moscow was way beyond what would be necessary to destroy even that big a city because they were only calculating the blast. But in fact, if you exploded a 300 kiloton nuclear warhead over the Pentagon at 3,000 feet, it would blast all the way out to the capital, which isn't all that far. But if you counted the fire, it would start a mass-fire and then it would reach all the way out to the Beltway and burn everything between the epicenter of the weapon and the Beltway. All organic matter would be totally burned out, leaving nothing but mineral matter, basically. Dwarkesh Patel 0:36:08I want to emphasize two things you said because they really hit me in reading the book and I'm not sure if the audience has fully integrated them. The first is, in the book, the military planners and Groves, they talk about needing to use the bomb sooner rather than later, because they were running out of cities in Japan where there are enough buildings left that it would be worth bombing in the first place, which is insane. An entire country is almost already destroyed from fire bombing alone. And the second thing about the category difference between thermonuclear and atomic bombs. Daniel Ellsberg, the nuclear planner who wrote the Doomsday machine, he talks about, people don't understand that the atom bomb that resulted in the pictures we see of Nagasaki and Hiroshima, that is simply the detonator of a modern nuclear bomb, which is an insane thing to think about. So for example, 10 and 15 kilotons is the Hiroshima Nagasaki and the Tsar Bomba, which was 50 megatons. So more than 1,000 times as much. And that wasn't even as big as they could make it. They kept the uranium tamper off, because they didn't want to destroy all of Siberia. So you could get more than 10,000 times as powerful. Richard Rhodes 0:37:31When Edward Teller, co-inventor of the hydrogen bomb and one of the dark forces in the story, was consulting with our military, just for his own sake, he sat down and calculated, how big could you make a hydrogen bomb? He came up with 1,000 megatons. And then he looked at the effects. 1,000 megatons would be a fireball 10 miles in diameter. And the atmosphere is only 10 miles deep. He figured that it would just be a waste of energy, because it would all blow out into space. Some of it would go laterally, of course, but most of it would just go out into space. So a bomb more than 100 megatons would just be totally a waste of time. Of course, a 100 megatons bomb is also a total waste, because there's no target on Earth big enough to justify that from a military point of view. Robert Oppenheimer, when he had his security clearance questioned and then lifted when he was being punished for having resisted the development of the hydrogen bomb, was asked by the interrogator at this security hearing — “Well, Dr. Oppenheimer, if you'd had a hydrogen bomb for Hiroshima, wouldn't you have used it?” And Oppenheimer said, “No.” The interrogator asked, “Why is that?” He said because the target was too small. I hope that scene is in the film, I'm sure it will be. So after the war, when our bomb planners and some of our scientists went into Hiroshima and Nagasaki, just about as soon as the surrender was signed, what they were interested in was the scale of destruction, of course. And those two cities didn't look that different from the other cities that had been firebombed with small incendiaries and ordinary high explosives. They went home to Washington, the policy makers, with the thought that — “Oh, these bombs are not so destructive after all.” They had been touted as city busters, basically, and they weren't. They didn't completely burn out cities. They were not certainly more destructive than the firebombing campaign, when everything of more than 50,000 population had already been destroyed. That, in turn, influenced the judgment about what we needed to do vis-a-vis the Soviet Union when the Soviets got the bomb in 1949. There was a general sense that, when you could fight a war with nuclear weapons, deterrence or not, you would need quite a few of them to do it right. And the Air Force, once it realized that it could aggrandize its own share of the federal budget by cornering the market and delivering nuclear weapons, very quickly decided that they would only look at the blast effect and not the fire effect. It's like tying one hand behind your back. Most of it was a fire effect. So that's where they came up with numbers like we need 60 of these to take out Moscow. And what the Air Force figured out by the late 1940s is that the more targets, the more bombs. The more bombs, the more planes. The more planes, the biggest share of the budget. So by the mid 1950s, the Air Force commanded 47% of the federal defense budget. And the other branches of services, which had not gone nuclear by then, woke up and said, we'd better find some use for these weapons in our branches of service. So the Army discovered that it needed nuclear weapons, tactical weapons for field use, fired out of cannons. There was even one that was fired out of a shoulder mounted rifle. There was a satchel charge that two men could carry, weighed about 150 pounds, that could be used to dig a ditch so that Soviet tanks couldn't cross into Germany. And of course the Navy by then had been working hard with General Rickover on building a nuclear submarine that could carry ballistic missiles underwater in total security. No way anybody could trace those submarines once they were quiet enough. And a nuclear reactor is very quiet. It just sits there with neutrons running around, making heat. So the other services jumped in and this famous triad, we must have these three different kinds of nuclear weapons, baloney. We would be perfectly safe if we only had our nuclear submarines. And only one or two of those. One nuclear submarine can take out all of Europe or all of the Soviet Union.Dwarkesh Patel 0:42:50Because it has multiple nukes on it? Richard Rhodes 0:42:53Because they have 16 intercontinental ballistic missiles with MIRV warheads, at least three per missile. Dwarkesh Patel 0:43:02Wow. I had a former guest, Richard Hanania, who has a book about foreign policy where he points out that our model of thinking about why countries do the things they do, especially in foreign affairs, is wrong because we think of them as individual rational actors, when in fact it's these competing factions within the government. And in fact, you see this especially in the case of Japan in World War II, there was a great book of Japan leading up to World War II, where they talk about how a branch of the Japanese military, I forget which, needed more oil to continue their campaign in Manchuria so they forced these other branches to escalate. But it's so interesting that the reason we have so many nukes is that the different branches are competing for funding. Richard Rhodes 0:43:50Douhet, the theorist of air power, had been in the trenches in the First World War. Somebody (John Masefield) called the trenches of the First World War, the long grave already dug, because millions of men were killed and the trenches never moved, a foot this way, a foot that way, all this horror. And Douhet came up with the idea that if you could fly over the battlefield to the homeland of the enemy and destroy his capacity to make war, then the people of that country, he theorized, would rise up in rebellion and throw out their leaders and sue for peace. And this became the dream of all the Air Forces of the world, but particularly ours. Until around 1943, it was called the US Army Air Force. The dream of every officer in the Air Force was to get out from under the Army, not just be something that delivers ground support or air support to the Army as it advances, but a power that could actually win wars. And the missing piece had always been the scale of the weaponry they carried. So when the bomb came along, you can see why Curtis LeMay, who ran the strategic air command during the prime years of that force, was pushing for bigger and bigger bombs. Because if a plane got shot down, but the one behind it had a hydrogen bomb, then it would be just almost as effective as the two planes together. So they wanted big bombs. And they went after Oppenheimer because he thought that was a terrible way to go, that there was really no military use for these huge weapons. Furthermore, the United States had more cities than Russia did, than the Soviet Union did. And we were making ourselves a better target by introducing a weapon that could destroy a whole state. I used to live in Connecticut and I saw a map that showed the air pollution that blew up from New York City to Boston. And I thought, well, now if that was fallout, we'd be dead up here in green, lovely Connecticut. That was the scale that it was going to be with these big new weapons. So on the one hand, you had some of the important leaders in the government thinking that these weapons were not the war-winning weapons that the Air Force wanted them and realized they could be. And on the other hand, you had the Air Force cornering the market on nuclear solutions to battles. All because some guy in a trench in World War I was sufficiently horrified and sufficiently theoretical about what was possible with air power. Remember, they were still flying biplanes. When H.G. Wells wrote his novel, The World Set Free in 1913, predicting an atomic war that would lead to world government, he had Air Forces delivering atomic bombs, but he forgot to update his planes. The guys in the back seat, the bombardiers, were sitting in a biplane, open cockpit. And when the pilots had dropped the bomb, they would reach down and pick up H.G. Wells' idea of an atomic bomb and throw it over the side. Which is kind of what was happening in Washington after the war. And it led us to a terribly misleading and unfortunate perspective on how many weapons we needed, which in turn fermented the arms race with the Soviets and just chased off. In the Soviet Union, they had a practical perspective on factories. Every factory was supposed to produce 120% of its target every year. That was considered good Soviet realism. And they did that with their nuclear war weapons. So by the height of the Cold War, they had 75,000 nuclear weapons, and nobody had heard yet of nuclear winter. So if both sides had set off this string of mass traps that we had in our arsenals, it would have been the end of the human world without question. Dwarkesh Patel 0:48:27It raises an interesting question, if the military planners thought that the conventional nuclear weapon was like the fire bombing, would it have been the case that if there wasn't a thermonuclear weapon, that there actually would have been a nuclear war by now because people wouldn't have been thinking of it as this hard red line? Richard Rhodes 0:48:47I don't think so because we're talking about one bomb versus 400, and one plane versus 400 planes and thousands of bombs. That scale was clear. Deterrence was the more important business. Everyone seemed to understand even the spies that the Soviets had connected up to were wholesaling information back to the Soviet Union. There's this comic moment when Truman is sitting with Joseph Stalin at Potsdam, and he tells Stalin, we have a powerful new weapon. And that's as much as he's ready to say about it. And Stalin licks at him and says, “Good, I hope you put it to good use with the Japanese.” Stalin knows exactly what he's talking about. He's seen the design of the fat man type Nagasaki plutonium bomb. He has held it in his hands because they had spies all over the place. (0:49:44) - Stalin & the Soviet programDwarkesh Patel 0:49:44How much longer would it have taken the Soviets to develop the bomb if they didn't have any spies? Richard Rhodes 0:49:49Probably not any longer. Dwarkesh Patel 0:49:51Really? Richard Rhodes 0:49:51When the Soviet Union collapsed in the winter of ‘92, I ran over there as quickly as I could get over there. In this limbo between forming a new kind of government and some of the countries pulling out and becoming independent and so forth, their nuclear scientists, the ones who'd worked on their bombs were free to talk. And I found that out through Yelena Bonner, Andrei Sakharov's widow, who was connected to people I knew. And she said, yeah, come on over. Her secretary, Sasha, who was a geologist about 35 years old became my guide around the country. We went to various apartments. They were retired guys from the bomb program and were living on, as far as I could tell, sac-and-potatoes and some salt. They had government pensions and the money was worth a salt, all of a sudden. I was buying photographs from them, partly because I needed the photographs and partly because 20 bucks was two months' income at that point. So it was easy for me and it helped them. They had first class physicists in the Soviet Union, they do in Russian today. They told me that by 1947, they had a design for a bomb that they said was half the weight and twice the yield of the Fat Man bomb. The Fat Man bomb was the plutonium implosion, right? And it weighed about 9,000 pounds. They had a much smaller and much more deliverable bomb with a yield of about 44 kilotons. Dwarkesh Patel 0:51:41Why was Soviet physics so good?Richard Rhodes 0:51:49The Russian mind? I don't know. They learned all their technology from the French in the 19th century, which is why there's so many French words in Russian. So they got good teachers, the French are superb technicians, they aren't so good at building things, but they're very good at designing things. There's something about Russia, I don't know if it's the language or the education. They do have good education, they did. But I remember asking them when they were working, I said — On the hydrogen bomb, you didn't have any computers yet. We only had really early primitive computers to do the complicated calculations of the hydrodynamics of that explosion. I said, “What did you do?” They said, “Oh, we just used nuclear. We just used theoretical physics.” Which is what we did at Los Alamos. We had guys come in who really knew their math and they would sit there and work it out by hand. And women with old Marchant calculators running numbers. So basically they were just good scientists and they had this new design. Kurchatov who ran the program took Lavrentiy Beria, who ran the NKVD who was put in charge of the program and said — “Look, we can build you a better bomb. You really wanna waste the time to make that much more uranium and plutonium?” And Beria said, “Comrade, I want the American bomb. Give me the American bomb or you and all your families will be camp dust.” I talked to one of the leading scientists in the group and he said, we valued our lives, we valued our families. So we gave them a copy of the plutonium implosion bomb. Dwarkesh Patel 0:53:37Now that you explain this, when the Soviet Union fell, why didn't North Korea, Iran or another country, send a few people to the fallen Soviet Union to recruit a few of the scientists to start their own program? Or buy off their stockpiles or something. Or did they?Richard Rhodes 0:53:59There was some effort by countries in the Middle East to get all the enriched uranium, which they wouldn't sell them. These were responsible scientists. They told me — we worked on the bomb because you had it and we didn't want there to be a monopoly on the part of any country in the world. So patriotically, even though Stalin was in charge of our country, he was a monster. We felt that it was our responsibility to work on these things, even Sakharov. There was a great rush at the end of the Second World War to get hold of German scientists. And about an equal number were grabbed by the Soviets. All of the leading German scientists, like Heisenberg and Hans and others, went west as fast as they could. They didn't want to be captured by the Soviets. But there were some who were. And they helped them work. People have the idea that Los Alamos was where the bomb happened. And it's true that at Los Alamos, we had the team that designed, developed, and built the first actual weapons. But the truth is, the important material for weapons is the uranium or plutonium. One of the scientists in the Manhattan Project told me years later, you can make a pretty high-level nuclear explosion just by taking two subcritical pieces of uranium, putting one on the floor and dropping the other by hand from a height of about six feet. If that's true, then all this business about secret designs and so forth is hogwash. What you really need for a weapon is the critical mass of highly enriched uranium, 90% of uranium-235. If you've got that, there are lots of different ways to make the bomb. We had two totally different ways that we used. The gun on the one hand for uranium, and then because plutonium was so reactive that if you fired up the barrel of a cannon at 3,000 feet per second, it would still melt down before the two pieces made it up. So for that reason, they had to invent an entirely new technology, which was an amazing piece of work. From the Soviet point of view, and I think this is something people don't know either, but it puts the Russian experience into a better context. All the way back in the 30s, since the beginning of the Soviet Union after the First World War, they had been sending over espionage agents connected up to Americans who were willing to work for them to collect industrial technology. They didn't have it when they began their country. It was very much an agricultural country. And in that regard, people still talk about all those damn spies stealing our secrets, we did the same thing with the British back in colonial days. We didn't know how to make a canal that wouldn't drain out through the soil. The British had a certain kind of clay that they would line their canals with, and there were canals all over England, even in the 18th century, that were impervious to the flow of water. And we brought a British engineer at great expense to teach us how to make the lining for the canals that opened up the Middle West and then the West. So they were doing the same thing. And one of those spies was a guy named Harry Gold, who was working all the time for them. He gave them some of the basic technology of Kodak filmmaking, for example. Harry Gold was the connection between David Greenglass and one of the American spies at Los Alamos and the Soviet Union. So it was not different. The model was — never give us something that someone dreamed of that hasn't been tested and you know works. So it would actually be blueprints for factories, not just a patent. And therefore when Beria after the war said, give us the bomb, he meant give me the American bomb because we know that works. I don't trust you guys. Who knows what you'll do. You're probably too stupid anyway. He was that kind of man. So for all of those reasons, they built the second bomb they tested was twice the yield and half the way to the first bomb. In other words, it was their new design. And so it was ours because the technology was something that we knew during the war, but it was too theoretical still to use. You just had to put the core and have a little air gap between the core and the explosives so that the blast wave would have a chance to accelerate through an open gap. And Alvarez couldn't tell me what it was but he said, you can get a lot more destructive force with a hammer if you hit something with it, rather than if you put the head on the hammer and push. And it took me several years before I figured out what he meant. I finally understood he was talking about what's called levitation.Dwarkesh Patel 0:59:41On the topic that the major difficulty in developing a bomb is either the refinement of uranium into U-235 or its transmutation into plutonium, I was actually talking to a physicist in preparation for this conversation. He explained the same thing that if you get two subcritical masses of uranium together, you wouldn't have the full bomb because it would start to tear itself apart without the tamper, but you would still have more than one megaton.Richard Rhodes 1:00:12It would be a few kilotons. Alvarez's model would be a few kilotons, but that's a lot. Dwarkesh Patel 1:00:20Yeah, sorry I meant kiloton. He claimed that one of the reasons why we talk so much about Los Alamos is that at the time the government didn't want other countries to know that if you refine uranium, you've got it. So they were like, oh, we did all this fancy physics work in Los Alamos that you're not gonna get to, so don't even worry about it. I don't know what you make of that theory. That basically it was sort of a way to convince people that Los Alamos was important. Richard Rhodes 1:00:49I think all the physics had been checked out by a lot of different countries by then. It was pretty clear to everybody what you needed to do to get to a bomb. That there was a fast fusion reaction, not a slow fusion reaction, like a reactor. They'd worked that out. So I don't think that's really the problem. But to this day, no one ever talks about the fact that the real problem isn't the design of the weapon. You could make one with wooden boxes if you wanted to. The problem is getting the material. And that's good because it's damned hard to make that stuff. And it's something you can protect. Dwarkesh Patel 1:01:30We also have gotten very lucky, if lucky is the word you want to use. I think you mentioned this in the book at some point, but the laws of physics could have been such that unrefined uranium ore was enough to build a nuclear weapon, right? In some sense, we got lucky that it takes a nation-state level actor to really refine and produce the raw substance. Richard Rhodes 1:01:56Yeah, I was thinking about that this morning on the way over. And all the uranium in the world would already have destroyed itself. Most people have never heard of the living reactors that developed on their own in a bed of uranium ore in Africa about two billion years ago, right? When there was more U-235 in a mass of uranium ore than there is today, because it decays like all radioactive elements. And the French discovered it when they were mining the ore and found this bed that had a totally different set of nuclear characteristics. They were like, what happened? But there were natural reactors in Gabon once upon a time. And they started up because some water, a moderator to make the neutrons slow down, washed its way down through a bed of much more highly enriched uranium ore than we still have today. Maybe 5-10% instead of 3.5 or 1.5, whatever it is now. And they ran for about 100,000 years and then shut themselves down because they had accumulated enough fusion products that the U-235 had been used up. Interestingly, this material never migrated out of the bed of ore. People today who are anti-nuclear say, well, what are we gonna do about the waste? Where are we gonna put all that waste? It's silly. Dwarkesh Patel 1:03:35Shove it in a hole. Richard Rhodes 1:03:36Yeah, basically. That's exactly what we're planning to do. Holes that are deep enough and in beds of material that will hold them long enough for everything to decay back to the original ore. It's not a big problem except politically because nobody wants it in their backyard.Dwarkesh Patel 1:03:53On the topic of the Soviets, one question I had while reading the book was — we negotiated with Stalin at Yalta and we surrendered a large part of Eastern Europe to him under his sphere of influence. And obviously we saw 50 years of immiseration there as a result. Given the fact that only we had the bomb, would it have been possible that we could have just knocked out the Soviet Union or at least prevented so much of the world from succumbing to communism in the aftermath of World War II? Is that a possibility? Richard Rhodes 1:04:30When we say we had the bomb, we had a few partly assembled handmade bombs. It took almost as long to assemble one as the battery life of the batteries that would drive the original charge that would set off the explosion. It was a big bluff. You know, when they closed Berlin in 1948 and we had to supply Berlin by air with coal and food for a whole winter, we moved some B-29s to England. The B-29 being the bomber that had carried the bombs. They were not outfitted for nuclear weapons. They didn't have the same kind of bomb-based structure. The weapons that were dropped in Japan had a single hook that held the entire bomb. So when the bay opened and the hook was released, the thing dropped. And that's very different from dropping whole rows of small bombs that you've seen in the photographs and the film footage. So it was a big bluff on our part. We took some time after the war inevitably to pull everything together. Here was a brand new technology. Here was a brand new weapon. Who was gonna be in charge of it? The military wanted control, Truman wasn't about to give the military control. He'd been an artillery officer in the First World War. He used to say — “No, damn artillery captain is gonna start World War III when I'm president.” I grew up in the same town he lived in so I know his accent. Independence, Missouri. Used to see him at his front steps taking pictures with tourists while he was still president. He used to step out on the porch and let the tourists take photographs. About a half a block from my Methodist church where I went to church. It was interesting. Interestingly, his wife was considered much more socially acceptable than he was. She was from an old family in independence, Missouri. And he was some farmer from way out in Grandview, Missouri, South of Kansas City. Values. Anyway, at the end of the war, there was a great rush from the Soviet side of what was already a zone. There was a Soviet zone, a French zone, British zone and an American zone. Germany was divided up into those zones to grab what's left of the uranium ore that the Germans had stockpiled. And there was evidence that there was a number of barrels of the stuff in a warehouse somewhere in the middle of all of this. And there's a very funny story about how the Russians ran in and grabbed off one site full of uranium ore, this yellow black stuff in what were basically wine barrels. And we at the same night, just before the wall came down between the zones, were running in from the other side, grabbing some other ore and then taking it back to our side. But there was also a good deal of requisitioning of German scientists. And the ones who had gotten away early came West, but there were others who didn't and ended up helping the Soviets. And they were told, look, you help us build the reactors and the uranium separation systems that we need. And we'll let you go home and back to your family, which they did. Early 50s by then, the German scientists who had helped the Russians went home. And I think our people stayed here and brought their families over, I don't know. (1:08:24) - Deterrence, disarmament, North Korea, TaiwanDwarkesh Patel 1:08:24Was there an opportunity after the end of World War II, before the Soviets developed the bomb, for the US to do something where either it somehow enforced a monopoly on having the bomb, or if that wasn't possible, make some sort of credible gesture that, we're eliminating this knowledge, you guys don't work on this, we're all just gonna step back from this. Richard Rhodes 1:08:50We tried both before the war. General Groves, who had the mistaken impression that there was a limited amount of high-grade uranium ore in the world, put together a company that tried to corner the market on all the available supply. For some reason, he didn't realize that a country the size of the Soviet Union is going to have some uranium ore somewhere. And of course it did, in Kazakhstan, rich uranium ore, enough for all the bombs they wanted to build. But he didn't know that, and I frankly don't know why he didn't know that, but I guess uranium's use before the Second World War was basically as a glazing agent for pottery, that famous yellow pottery and orange pottery that people owned in the 1930s, those colors came from uranium, and they're sufficiently radioactive, even to this day, that if you wave a Geiger counter over them, you get some clicks. In fact, there have been places where they've gone in with masks and suits on, grabbed the Mexican pottery and taken it out in a lead-lined case. People have been so worried about it but that was the only use for uranium, to make a particular kind of glass. So once it became clear that there was another use for uranium, a much more important one, Groves tried to corner the world market, and he thought he had. So that was one effort to limit what the Soviet Union could do. Another was to negotiate some kind of agreement between the parties. That was something that really never got off the ground, because the German Secretary of State was an old Southern politician and he didn't trust the Soviets. He went to the first meeting, in Geneva in ‘45 after the war was over, and strutted around and said, well, I got the bomb in my pocket, so let's sit down and talk here. And the Soviet basically said, screw you. We don't care. We're not worried about your bomb. Go home. So that didn't work. Then there was the effort to get the United Nations to start to develop some program of international control. And the program was proposed originally by a committee put together by our State Department that included Robert Oppenheimer, rightly so, because the other members of the committee were industrialists, engineers, government officials, people with various kinds of expertise around the very complicated problems of technology and the science and, of course, the politics, the diplomacy. In a couple of weeks, Oppenheimer taught them the basics of the nuclear physics involved and what he knew about bomb design, which was everything, actually, since he'd run Los Alamos. He was a scientist during the war. And they came up with a plan. People have scoffed ever since at what came to be called the Acheson-Lilienthal plan named after the State Department people. But it's the only plan I think anyone has ever devised that makes real sense as to how you could have international control without a world government. Every country would be open to inspection by any agency that was set up. And the inspections would not be at the convenience of the country. But whenever the inspectors felt they needed to inspect. So what Oppenheimer called an open world. And if you had that, and then if each country then developed its own nuclear industries, nuclear power, medical uses, whatever, then if one country tried clandestinely to begin to build bombs, you would know about it at the time of the next inspection. And then you could try diplomacy. If that didn't work, you could try conventional war. If that wasn't sufficient, then you could start building your bombs too. And at the end of this sequence, which would be long enough, assuming that there were no bombs existing in the world, and the ore was stored in a warehouse somewhere, six months maybe, maybe a year, it would be time for everyone to scale up to deterrence with weapons rather than deterrence without weapons, with only the knowledge. That to me is the answer to the whole thing. And it might have worked. But there were two big problems. One, no country is going to allow a monopoly on a nuclear weapon, at least no major power. So the Russians were not willing to sign on from the beginning. They just couldn't. How could they? We would not have. Two, Sherman assigned a kind of a loudmouth, a wise old Wall Street guy to present this program to the United Nations. And he sat down with Oppenheimer after he and his people had studied and said, where's your army? Somebody starts working on a bomb over there. You've got to go in and take that out, don't you? He said, what would happen if one country started building a bomb? Oppenheimer said, well, that would be an act of war. Meaning then the other countries could begin to escalate as they needed to to protect themselves against one power, trying to overwhelm the rest. Well, Bernard Baruch was the name of the man. He didn't get it. So when he presented his revised version of the Acheson–Lilienthal Plan, which was called the Baruch Plan to the United Nations, he included his army. And he insisted that the United States would not give up its nuclear monopoly until everyone else had signed on. So of course, who's going to sign on to that deal? Dwarkesh Patel 1:15:24I feel he has a point in the sense that — World War II took five years or more. If we find that the Soviets are starting to develop a bomb, it's not like within the six months or a year or whatever, it would take them to start refining the ore. And to the point we found out that they've been refining ore to when we start a war and engage in it, and doing all the diplomacy. By that point, they might already have the bomb. And so we're behind because we dismantled our weapons. We are only starting to develop our weapons once we've exhausted these other avenues. Richard Rhodes 1:16:00Not to develop. Presumably we would have developed. And everybody would have developed anyway. Another way to think of this is as delayed delivery times. Takes about 30 minutes to get an ICBM from Central Missouri to Moscow. That's the time window for doing anything other than starting a nuclear war. So take the warhead off those missiles and move it down the road 10 miles. So then it takes three hours. You've got to put the warhead back on the missiles. If the other side is willing to do this too. And you both can watch and see. We require openness. A word Bohr introduced to this whole thing. In order to make this happen, you can't have secrets. And of course, as time passed on, we developed elaborate surveillance from space, surveillance from planes, and so forth. It would not have worked in 1946 for sure. The surveillance wasn't there. But that system is in place today. The International Atomic Energy Agency has detected systems in air, in space, underwater. They can detect 50 pounds of dynamite exploded in England from Australia with the systems that we have in place. It's technical rather than human resources. But it's there. So it's theoretically possible today to get started on such a program. Except, of course, now, in like 1950, the world is awash in nuclear weapons. Despite the reductions that have occurred since the end of the Cold War, there's still 30,000-40,000 nuclear weapons in the world. Way too many. Dwarkesh Patel 1:18:01Yeah. That's really interesting. What percentage of warheads do you think are accounted for by this organization? If there's 30,000 warheads, what percentage are accounted for? Richard Rhodes 1:18:12All.Dwarkesh Patel 1:18:12Oh. Really? North Korea doesn't have secrets? Richard Rhodes 1:18:13They're allowed to inspect anywhere without having to ask the government for permission. Dwarkesh Patel 1:18:18But presumably not North Korea or something, right? Richard Rhodes 1:18:21North Korea is an exception. But we keep pretty good track of North Korea needless to say. Dwarkesh Patel 1:18:27Are you surprised with how successful non-proliferation has been? The number of countries with nuclear weapons has not gone up for decades. Given the fact, as you were talking about earlier, it's simply a matter of refining or transmuting uranium. Is it surprising that there aren't more countries that have it?Richard Rhodes 1:18:42That's really an interesting part. Again, a part of the story that most people have never really heard. In the 50s, before the development and signing of the Nuclear Non-Proliferation Treaty, which was 1968 and it took effect in 1970, a lot of countries that you would never have imagined were working on nuclear weapons. Sweden, Norway, Japan, South Korea. They had the technology. They just didn't have the materials. It was kind of dicey about what you should do. But I interviewed some of the Swedish scientists who worked on their bomb and they said, well, we were just talking about making some tactical
Bernard Mannes Baruch (August 19, 1870 – June 20, 1965) was an American financier and statesman.After amassing a fortune on the New York Stock Exchange, he impressed President Woodrow Wilson by managing the nation's economic mobilization in World War I as chairman of the War Industries Board. He advised Wilson during the Paris Peace Conference. He made another fortune in the postwar bull market, but foresaw the Wall Street crash and sold out well in advance.In World War II, he became a close advisor to President Roosevelt on the role of industry in war supply, and he was credited with greatly shortening the production time for tanks and aircraft. Later he helped to develop rehabilitation programs for injured servicemen. In 1946, he was the United States representative to the United Nations Atomic Energy Commission (UNAEC), though his Baruch Plan for international control of atomic energy was rejected by the Soviet Union.
New ventures bring new opportunities for those with talent. An artist travels to see his work on display, while a singer attempts to transform a different skill into a fortune. December 1931, Spanish painter Josep Maria Sert travels with his wife Princess Roussie Mdivani Sert to see the Waldorf-Astoria in New York to see the Sert Room, named after his Don Quixote murals. Meanwhile, Cobina Wright opens the Sutton Club in her home for supper and dining with entertainment. She hopes the new venture will help restore the lost Wright fortune. Other people and subjects include: Princess Louise Van Alen Mdivani, Prince Alexis Mdivani, Daisy Van Allen, William “Bill” May Wright, Joe Kennedy, Coco Chanel, Misia Sert, Princess Nina Mdivani Huberich, Charles Huberich, Arturo Toscanini, Medrano and Donna dance team, Adele Astaire, Fred Astaire, Lucrezia Bori, Fannie Brice, Conde Nast, Bernard Baruch, Birdie Fair Vanderbilt, George Gershwin, Mrs. Randolph Hearst, Robert Goelet, Charles Clinton Spaulding, J. Paul Getty, Howard Hughes, Mae West, Alexander Pantages, James Roosevelt, James Cagney, Glenn Miller, Babe Ruth, John Dillinger, Marriott & Hilton hotels, Ocean's Spray, Lil Debbie snack cakes, JR Simplot, Gallo Wines, Waldorf-Astoria, Sutton Club, those who built fortunes during the Great Depression, grit and resilience --Extra Notes / Call to Action: The Gilded Age: A Fashion Coloring Book by Discovery Lair. There are 50 hand drawn illustrations mostly inspired from the 1890s and features several outfits and activities ranging from debutantes, operas, outdoors, and play. Available on Amazon in the Books section, the link will be available in the transcript and the News | Events section at asthemoneyburns.com. https://www.amazon.com/Gilded-Age-Fashion-Coloring-Book/dp/B0BMY6R4DT/ref=sr_1_1?crid=LPSCDBBXTHRW&keywords=the+gilded+age+a+fashion+coloring+book&qid=1670213163&s=books&sprefix=the+gilded+age+a+fashion+coloring+book%2Cstripbooks%2C190&sr=1-1 Share, like, subscribe --Archival Music provided by Past Perfect Vintage Music, www.pastperfect.com.Opening Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance BandsSection 1 Music: There's One Little Girl Who Loves Me by Jack Hylton, Album Fascinating Rhythm – Great Hits of the 20sSection 2 Music: Let's All Go To Mary's House by The Savoy Orpheans, Album Fascinating Rhythm – Great Hits of the 20sSection 3 Music: Says My Heart / You Leave Me Breathless by Carroll Gibbons, Album EleganceEnd Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands --https://asthemoneyburns.com/TW / IG – @asthemoneyburns Facebook – https://www.facebook.com/asthemoneyburns/
IN THIS EPISODE, YOU'LL LEARN:18:35 - How the Great Inflation of 1965-81 shaped Jim Grant's views on our current predicament.25:31 - How history shows us that human behavior around money has never really changed. 30:50 - Why it's futile to forecast interest rates, but wise to know what's happened in the past.42:53 - How the Federal Reserve sparked rampant inflation, why it's scary, & how to deal with it.55:16 - How central bankers illustrate the perils of overconfidence & the need for humility.1:03:20 - How the Fed could wreck the U.S. economy while attempting to tame inflation. 1:07:01 - What investment opportunities Jim sees in this high-risk economic environment.1:10:43 - Why he's bearish on bonds as a 40-year cycle of falling interest rates comes to an end.1:19:40 - Why Jim likes gold, not Bitcoin, as a protection against financial chaos & monetary folly.1:35:07 - Why he adamantly refuses to invest in China.1:28:47 - What Jim thinks of great investors like Seth Klarman, Paul Tudor Jones, & Bill Miller.1:36:14 - How to handle the emotional challenge of investing when the stock market is tumbling.1:40:57 - What we can learn from Bernard Baruch, one of the best investors of the 20th century.1:44:22 - What you can learn from a classic investment book about the secret of “dying rich.”1:53:10 - What Jim regards as “the most precious commodity” in life.*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESJim Grant's website for Grant's Interest Rate Observer.Subscribe to Almost Daily Grant's, a free (almost) daily commentary on financial markets.Grant's Current Yield Podcast, which is co-hosted by Jim & his colleague Evan Lorenz.Jim's annual investment conference in New York City.Jim's book Bernard M. Baruch: The Adventures of a Wall Street Legend.Jim's book Bagehot: The Life and Times of the Greatest Victorian.Jim's investment recommendation, Palm Valley Capital Value Fund.William Green interviews Bill Miller about Bitcoin on the “Richer, Wiser, Happier” podcast.William Green's book, “Richer, Wiser, Happier” – read the reviews of this book.William Green's Twitter.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSHelp empower girls to break free through education, healthcare, child protection, and other wonderful benefits by being a World Vision child sponsor today.Make summer dinners stress-free with Freshly. Get $125 off your first five orders today!Take the next step in your working life or get ready for a change, by being a Snooze franchise partner.Enjoy 50% off Remote's full suite of global employment solutions for your first employee for three months when you use promo code WSB.Invest in high-quality, cash-flowing real estate without all of the hassle with Passive Investing.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.Send, spend, and receive money around the world easily with Wise.Book your next simple tour or extreme adventure through Viator, the world's leading travel experience marketplace. Use code VIATOR10 for 10% off your first booking.Get up to 3% Daily Cashback on everything you buy with Apple Card. Apply now in the Wallet app on iPhone and start using it right away. Subject to credit approval. Daily cash is available via an Apple Cash card or as a statement credit. See Apple Card customer agreement for terms and conditions. Apple Cash card is issued by Green Dot Bank, Member FDIC. Variable APRs range from 13.24% to 24.24% based on creditworthiness. Rates as of August 1, 2022.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The famous stock market player Bernard Baruch once said, paraphrasing: Whatever men attempt, they seem driven to overdo. When hopes are soaring, I always repeat to myself that two and two still make four. The main purpose of the market is to make fools of as many people as possible. Today, stories of this lesson being learned by both major VC firms and Elon Musk. Oh, and how North Korean hackers infiltrate companies.Sponsors:OurCrowd.com/rideCybersecurityinside.com/RIDELinks:Uber broke laws, duped police and secretly lobbied governments, leak reveals (The Guradian)Here's how North Korean operatives are trying to infiltrate US crypto firms (CNN)Andreessen Horowitz, Thrive Go Bargain Hunting for Beaten-Down Tech Stocks (The Information)Elon's Out (Matt Levine/Bloomberg)Tweet Storm #1Tweet Storm #2See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The famous stock market player Bernard Baruch once said, paraphrasing: Whatever men attempt, they seem driven to overdo. When hopes are soaring, I always repeat to myself that two and two still make four. The main purpose of the market is to make fools of as many people as possible. Today, stories of this lesson being learned by both major VC firms and Elon Musk. Oh, and how North Korean hackers infiltrate companies.Sponsors:OurCrowd.com/rideWork Check podcastLinks:Uber broke laws, duped police and secretly lobbied governments, leak reveals (The Guradian)Here's how North Korean operatives are trying to infiltrate US crypto firms (CNN)Andreessen Horowitz, Thrive Go Bargain Hunting for Beaten-Down Tech Stocks (The Information)Elon's Out (Matt Levine/Bloomberg)Tweet Storm #1Tweet Storm #2See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Episode 29 Folks! It's here! In it, the sisters sync their mind powers and both do their story on a rebel woman with a legacy in education. KT starts things off with the story of Belle Baruch, daughter of financier Bernard Baruch, who conserved a vast stretch of the American east coast and lived as an openly gay woman in the early 20th century. Next, Laurel tells the tale of Fatima Al-Fihri, who built the world's longest running university in the year 859 CE! Welcome in the Smoke Circle! *~*~*~*~*~ The Life and Times of Frederick the Great Podcast helping Ukraine *~*~*~*~*~ Mentioned in the Stories: U of SC Baruch Institute Website Belle W. Baruch Institute of Coastal Ecology and Forest Science at Clemson Pictures of al-Qarawiyyin Mosque and University *~*~*~*~*~ The Socials! Email -- hightailinghistorypod@gmail.com Instagram -- @hightailinghistory Facebook -- Hightailing Through History or @hightailinghistory *~*~*~*~*~ Source Materials: Belle Baruch-- “The Baroness of Hobcaw: Charleston Magazine.” “Belle W. Baruch.” Wikipedia “Belle Baruch: Champion of Hobcaw.” Making History Together Fatima Al-Fihri-- Crowhurst, Anna-Marie. “The True Story of Fatima Al-Fihri, the Founder of the World's First Known University.” Stylist Humairaa, and Rebecca Mortimer. “Fatima Al-Fihri: Founder of the World's First University.” Manchester University Press Ilham, Talbi. “Fatima Al-Fihri: Founder of the World's Oldest University: DW, DW.COM Oti, Iroegbu Chinaemerem. “Meet Fatima Al-Fihri: The Founder of the World's First Library.” Ventures Africa “Wisstory: Fatima Al-Fihri, Founder of the World's Longest-Standing University.” Women in Science Portland --- Send in a voice message: https://anchor.fm/laurel-rockall/message
Episode 29 Folks! It's here! In it, the sisters sync their mind powers and both do their story on a rebel woman with a legacy in education. KT starts things off with the story of Belle Baruch, daughter of financier Bernard Baruch, who conserved a vast stretch of the American east coast and lived as an openly gay woman in the early 20th century. Next, Laurel tells the tale of Fatima Al-Fihri, who built the world's longest running university in the year 859 CE! Welcome in the Smoke Circle! *~*~*~*~*~ The Life and Times of Frederick the Great Podcast helping Ukraine *~*~*~*~*~ Mentioned in the Stories: U of SC Baruch Institute Website Belle W. Baruch Institute of Coastal Ecology and Forest Science at Clemson Pictures of al-Qarawiyyin Mosque and University *~*~*~*~*~ The Socials! Email -- hightailinghistorypod@gmail.com Instagram -- @hightailinghistory Facebook -- Hightailing Through History or @hightailinghistory *~*~*~*~*~ Source Materials: Belle Baruch-- “The Baroness of Hobcaw: Charleston Magazine.” “Belle W. Baruch.” Wikipedia “Belle Baruch: Champion of Hobcaw.” Making History Together Fatima Al-Fihri-- Crowhurst, Anna-Marie. “The True Story of Fatima Al-Fihri, the Founder of the World's First Known University.” Stylist Humairaa, and Rebecca Mortimer. “Fatima Al-Fihri: Founder of the World's First University.” Manchester University Press Ilham, Talbi. “Fatima Al-Fihri: Founder of the World's Oldest University: DW, DW.COM Oti, Iroegbu Chinaemerem. “Meet Fatima Al-Fihri: The Founder of the World's First Library.” Ventures Africa “Wisstory: Fatima Al-Fihri, Founder of the World's Longest-Standing University.” Women in Science Portland --- Send in a voice message: https://anchor.fm/laurel-rockall/message
Have you ever left a conversation questioning your experience, feelings, and judgments? It's possible you experienced gaslighting. Join Dennise and Keisha, as they break down the subtle and not so subtle ways you may experience gaslighting with friends and family in early sobriety. Plus take away tips we have found to deal with it(aka boundaries)! So grab your fav non-alcoholic drink and let's get into it! Show Mentions: https://www.vox.com/first-person/2018/12/19/18140830/gaslighting-relationships-politics-explained https://www.verywellmind.com/is-someone-gaslighting-you-4147470#:~:text=Gaslighting%20is%20a%20form%20of,question%20their%20judgments%20and%20reality Be who you are and say what you feel quote by Bernard Baruch
A Pumpkin Patch, a Typewriter, and Richard Nixon: The Hiss-Chambers Espionage Case
Several people have told me that, of my 38 episodes, this is their favorite. See if you agree. It is all about the question Hiss could never answer: how, if Hiss is innocent, did the 64 Typed Spy Documents get typed on his home typewriter. You may recall that Hiss first told The Grand Jury that Chambers broke into his house in 1938 and typed them on it himself when no one was looking. That didn't work. Second, Hiss told the jury at the second trial that Hiss gave the Typewriter to the Catlett Kids in late 1937; they put it in the back room where they had their non-stop dance party; then Chambers found it there and typed up The Typed Spy Documents himself on it as the conga line snaked past. That didn't convince, either. Third — and this is the subject of this Podcast — in a Motion for a New Trial on Grounds of Newly Discovered Evidence, Hiss' new lawyer speculated that Chambers in 1948 had made a fake typewriter, which typed just like The Hiss Home Typewriter, and had typed up The Spy Documents on it; then Chambers found where the real Hiss Typewriter was (in the nightwatchman's home, you remember), stole it and planted his fake there, and waited for someone to find the fake and for everyone to assume it was the real Hiss Home Typewriter. Quite a frame-up, if true. But did that really happen? Is it even plausible? Podcast #35 explores this theory, which Hiss stuck to till his dying day (with numerous variations as each old one failed). FURTHER RESEARCH The best dissection of The Forgery by Typewriter Theory is Chapter 2 (titled “Chambers”) in “Ex-Communist Witnesses:Four Studies in Fact Finding” by Professor Herbert L. Packer of Stanford University Law School (Stanford University Press 1962) at 21-51. Others are Cornell/Georgetown/Minnesota Law School Professor Irving Younger's article “Was Alger Hiss Guilty?” in Commentary Magazine's August 1975 issue, available at https://www.commentary.org/articles/irving-younger/was-alger-hiss-guilty-2/; and the Appendix to professor Weinstein's book, titled “‘Forgery by Typewriter': The Pursuit of Conspiracy, 1948-97,” at pages 624-30, 632-34, 645-47. The version of Alistair Cooke's book (“A Generation on Trial:U.S.A. v. Alger Hiss”) that was published in 1952 has a few new pages at the end, 347-54, describing Hiss's Motion for a New Trial and the Court hearing about it. Judge Goddard presided, and Cooke notes (at 348) that the audience included “leisured and unidentified old ladies who appeared at all Hiss hearings with the ritual fatalism of the annual pilgrims to Valentino's grave.” Cooke writes (at 348) that “several excellent lawyers were dumbfounded by the claims that the defense now put forward.” After describing Judge Goddard's dismissal of those claims, Cooke ends his book with the following words. “Four years had passed since the names of Hiss and Chambers shook the nation. Now there was another Presidential campaign, and the Democrats were in full fling at their convention in Chicago. Judge Goddard's word, perhaps the last, about Hiss was lucky to earn a few lines at the bottom of the inside pages of newspapers. In most it earned none. Hiss had passed into shame and into history.” Here is my list of the people who, Hiss defenders have speculated over the decades, masterminded or participated in the framing of Hiss (in most cases involving forgery by typewriter): Whittaker and Esther Chambers, J. Edgar Hoover and the FBI, Ambassador William C. Bullitt, Jr., Richard and Pat Nixon, the Democratic financier and Presidential advisor Bernard Baruch, President Truman's Secretary of State James F. Byrnes, the Dulles Brothers, supporters of the Chinese anti-communist dictator Chaing Kai-Shek, a Nazi sympathizer who owned a typewriter store in New York City, the U.S. Army Counter Intelligence Corps, and a private detective named Horace Schmahl. If you are interested in the broader question of why people believe highly implausible stories, I recommend Michael Shermer's book “Why People Believe Weird Things: Pseudoscience, Superstition, and Other Confusions of Our Time” (St. Martin's Griffin 2002); and a delightful article by the Brandeis University Professor Jacob Cohen, “Will We Never Be Free of the Kennedy Assassination?,” published in the December 2013 issue of Commentary Magazine and available at https://www.commentary.org/articles/jacob-cohen/will-we-never-be-free-of-the-kennedy-assassination/. Questions: Here are two questions I have asked myself for years but never answered satisfactorily. Can you help me? (1) In his Motion for a New Trial, Hiss claimed that Chambers did the forgery all by himself, or with the help of Communist friends. This seems plainly ridiculous. Chambers had neither the time, the tools, nor the talents to forge a typewriter and, by 1948, no Communist friends to help him. My question: why was it only years later that Hiss claimed that Hoover and the FBI had committed the forgery? The FBI was obviously the only organization in the US that even arguably had the necessary time, tools, and talents. What prevented Hiss from aiming, from the start, at such an obvious target? (2). Hiss publicized his Forgery by Typewriter theories for decades, and his supporters have carried the torch in the decades after his death. They are articulate people, they have occasionally had generous funding, and they know lots people in the nation's media who would love another story of an innocent gentleman framed as a Commie the early Cold War years. But if you Google “Famous Conspiracy Theories” or “Top 25 Conspiracy Theories of All Time,” you will not find Hiss's Forgery by Typewriter Theory. Why? Why has Hiss's conspiracy theory not achieved the popularity of the theories about the assassinations of JFK and RFK, or of the alleged landings at Roswell and the alleged non-landings on the Moon? Is his theory too implausible or too complicated for a large audience, and/or is Hiss too cold a fish to be sympathetic?
Get In Touch Website: https://psychopathinyourlife.com/ Contributions to the show are greatly appreciated. Support the Show – Psychopath In Your Life The post Bernard Baruch -CREATOR of EVIL Empire = USA appeared first on Psychopath In Your Life.
Start trading today using my free guide @ mytradingplan.org @marketadventurespodcast on ALL socials Start Investing From Scratch - https://gum.co/learnstocks “Creating a 5 Star Course From Scratch” is a masterclass on producing and selling courses quickly and profitably. Learn how you can make a living income, and build your wealth through teaching others what you already know. Take 5 seconds to share this show with friends and family. Don't tell them why, just share it. If yah know, yah know Get $5 for free @ thesavings.club to get automatic savings started towards your goals “The main purpose of the stock market is to make fools of as many men as possible.” Bernard Baruch. If you tune into any financial tv, you can see the fools clear as day. Don't get caught slippin. Keep a healthy cash balance. Take profits. Don't get greedy. No one is the exception to the rule. shout out all the people who made money the last few days of this frenzy. I don't do tips or follow trades myself, but I'm in support of anyone who's out there securing their bag. Prosperity comes in many shapes and sizes, and I'm beyond happy for you if you got some money out of the markets. Greed. It's not enough to just say it's the little guys against the big guys. It's ultimately a reason to reflect on fundamental laws. Greed for us may be to the tune of hundreds or thousands of dollars. Greed for those squeezed came to the tune of billions. So, it doesn't matter how much money you have, no one can escape the rules of the game. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/marketadventures/message Support this podcast: https://anchor.fm/marketadventures/support
In this episode (aired on 1/10/20), host Ron DeLegge talks about why investing with an adequate margin of safety is crucial for profitable results and how to do it. ETFs mentioned in this episode include TMV, TNA, EDC, CWEB and others. Finally, Ron shares habits of the investing greats with tips from famed speculator Bernard Baruch. Follow the show on Twitter @ IndexShow and order Ron's latest book "Habits of the Investing Greats" https://www.amazon.com/gp/product/B07T2PJDN3/ref=dbs_a_def_rwt_bibl_vppi_i0
Rick Rule, Dr. Quinton Hennigh and Michael Oliver return. Bernard Baruch was successful because he bought stocks that no one wanted and sold to panic buyers. Rick is known to follow that strategy. He is known buy value when no one recognizes it and then sells later to a stampeding mob of buyers. Rick has an uncanny means of knowing when the party is approaching its end. So, with gold having had quite a run this year, does he see an end in sight for gold and other natural resource markets? Or is the party just getting started? Before we talk to Rick we'll ask Michael for his latest thoughts on those same markets. Always in the hunt for the next monster gold deposit we'll ask Dr. Hennigh what the chances are of Eskay Mining discovering another Eskay-like deposit in B.C. next to the Eskay Mine, one of the highest grade Canadian deposits ever. Quinton, who only gets involved in world class scale deposits, joined Eskay as a consultant. Might this be another winner for our listeners?
Rick Rule, Dr. Quinton Hennigh and Michael Oliver return. Bernard Baruch was successful because he bought stocks that no one wanted and sold to panic buyers. Rick is known to follow that strategy. He is known buy value when no one recognizes it and then sells later to a stampeding mob of buyers. Rick has an uncanny means of knowing when the party is approaching its end. So, with gold having had quite a run this year, does he see an end in sight for gold and other natural resource markets? Or is the party just getting started? Before we talk to Rick we'll ask Michael for his latest thoughts on those same markets. Always in the hunt for the next monster gold deposit we'll ask Dr. Hennigh what the chances are of Eskay Mining discovering another Eskay-like deposit in B.C. next to the Eskay Mine, one of the highest grade Canadian deposits ever. Quinton, who only gets involved in world class scale deposits, joined Eskay as a consultant. Might this be another winner for our listeners?
More About Our Guest: Aida Smith is a seasoned finance and compliance professional, with more than thirty years of exceptional experience in Accounting, Capital Assets, Construction Accounting, and Auditing. Aida began her finance career at Shearson Lehman Brothers right across the street from the NY Stock Exchange. She also studied finance at Bernard Baruch college, while holding various positions in the finance field.. Today Aida is a Certified Fraud Examiner, and a Certified Construction Auditor. Today Aida is here to share her passion to encourage balance between your profession, a healthy mind and body, by way of DNA Total Fitness. DNA (Dance & Aquatics) Total Fitness, LLC is a black owned fitness company that specializes in encouraging a happy healthy mind and body through dance. DNA Total Fitness offers various types of Zumba, private sessions, and virtual Zumba. A special thanks to our advertising sponsors. Visit their websites to learn more about these organizations: Ann McNeill: https://www.annmcneill.com/ JPerryandAssociates: www.jperryandassociates.com Pepsico/FritoLay: https://www.pepsico.com/ NABWIC's Mission: NABWIC was founded to increase the national awareness of Black Women in the construction industry. Our charge is to: * Advocate for Black women-owned construction businesses for contract opportunities. * Create strategic environments that support educational, entrepreneurial, professional, and social network connections. * Train the next generation of Black women and minorities in the construction industry Visit us at NABWIC.ORG
Service Business Mastery - Business Tips and Strategies for the Service Industry
Tersh talks with Terry White, President & CEO of Sunwest Trust. He has been working in the real estate & investment world for 35+ years, and he’s got the expertise to prove it. After graduating with a degree in Accounting and working as a controller for a local title company, Terry launched a small escrow company, which quickly gained a reputation for being honest, hardworking, and fair. In 2003, Terry took his success a step further and formed Sunwest Trust, Inc. Headquartered in Albuquerque, New Mexico, Sunwest Trust, Inc. was founded on the principle of offering clients real-world solutions to all of their self-directed IRA and escrow management needs. Today, Sunwest Trust, together with Sunwest Escrow, serves its clients as both escrow agents and IRA custodians for Individual Retirement Accounts. Terry has led Sunwest Trust with one goal: to provide outstanding service to each and every client by listening to them and learning exactly what they want. His passion lies in educating investors to build their own self-directed IRA’s, customized to fit their needs and financial goals. When he’s not in the office, Terry enjoys fly fishing, biking, traveling with his wife, and spending time in Colorado. Connect with Tersh www.serviceemperor.com or on social media @tershblissett CONNECT WITH TERRY tlw@sunwesttrust.com www.sunwesttrust.com www.sunwestescrow.com Check out this summary of Terry's book titled "When All You Have Is A Hammer...: An Informational Guide To Self-Directed IRAs": “If all you have is a hammer, everything looks like a nail.” Bernard Baruch, American Businessman As a young man, Terry White worked as a framer for his dad’s construction company. He used a big, heavy framing ax to pound 16-penny nails into 2 x 4s. An astute observer, he noticed that the finish carpenters on the site used a delicate, little hammer for their work of installing woodwork, window sills, and molding. The tool Terry used for his work was not the right tool for the job of a finish carpenter, nor did he have the skill to become a finish carpenter; he recognized that and took the lesson with him into adulthood. With that story in mind, Terry chose the title for this book to position the Self-Directed IRA as another tool you may use to achieve your retirement goals. It is his opinion that Self-Directed IRAs are not for everyone; but for the right person, a Self-Directed IRA may be just the right tool for the job. Self-Directed IRAs are great tools if you have the knowledge and skills about that in which you are investing, or want to acquire the knowledge and skills about that in which you want to invest; or are able to hire someone with the knowledge and skills about that in which you want to invest. Terry wrote this book as an informational guide for those who may be interested in Self-Directed IRAs. Readers will gain a broad overview of what owners of Self-Directed IRAs may expect and some of the investments they may purchase.
Service Business Mastery - Business Tips and Strategies for the Service Industry
Tersh talks with Terry White, President & CEO of Sunwest Trust. He has been working in the real estate & investment world for 35+ years, and he’s got the expertise to prove it. After graduating with a degree in Accounting and working as a controller for a local title company, Terry launched a small escrow company, which quickly gained a reputation for being honest, hardworking, and fair. In 2003, Terry took his success a step further and formed Sunwest Trust, Inc. Headquartered in Albuquerque, New Mexico, Sunwest Trust, Inc. was founded on the principle of offering clients real-world solutions to all of their self-directed IRA and escrow management needs. Today, Sunwest Trust, together with Sunwest Escrow, serves its clients as both escrow agents and IRA custodians for Individual Retirement Accounts. Terry has led Sunwest Trust with one goal: to provide outstanding service to each and every client by listening to them and learning exactly what they want. His passion lies in educating investors to build their own self-directed IRA’s, customized to fit their needs and financial goals. When he’s not in the office, Terry enjoys fly fishing, biking, traveling with his wife, and spending time in Colorado. Connect with Tersh www.serviceemperor.com or on social media @tershblissett CONNECT WITH TERRY tlw@sunwesttrust.com www.sunwesttrust.com www.sunwestescrow.com Check out this summary of Terry's book titled "When All You Have Is A Hammer...: An Informational Guide To Self-Directed IRAs": “If all you have is a hammer, everything looks like a nail.” Bernard Baruch, American Businessman As a young man, Terry White worked as a framer for his dad’s construction company. He used a big, heavy framing ax to pound 16-penny nails into 2 x 4s. An astute observer, he noticed that the finish carpenters on the site used a delicate, little hammer for their work of installing woodwork, window sills, and molding. The tool Terry used for his work was not the right tool for the job of a finish carpenter, nor did he have the skill to become a finish carpenter; he recognized that and took the lesson with him into adulthood. With that story in mind, Terry chose the title for this book to position the Self-Directed IRA as another tool you may use to achieve your retirement goals. It is his opinion that Self-Directed IRAs are not for everyone; but for the right person, a Self-Directed IRA may be just the right tool for the job. Self-Directed IRAs are great tools if you have the knowledge and skills about that in which you are investing, or want to acquire the knowledge and skills about that in which you want to invest; or are able to hire someone with the knowledge and skills about that in which you want to invest. Terry wrote this book as an informational guide for those who may be interested in Self-Directed IRAs. Readers will gain a broad overview of what owners of Self-Directed IRAs may expect and some of the investments they may purchase.
CO Front Range News Hour - 2020-9-23 Caller Brian on Bernard Baruch's method of not waiting for the high's (40%) to sell, nor the low's (20%) to buy. See omnystudio.com/listener for privacy information.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
Bernard Baruch, one of the greatest investors of all time: told the story, of how he knew it was time to get out of the Stock Market, just before the 1929 Crash. He was getting his shoes shined, when suddenly the shoe shiner looked up and began telling Mr. Baruch of this wonderful stock to buy. Now they'd never talked about stocks before. And this wasn't an in depth discussion about the outlook for the company. No, this was a tout. A suggestion to buy something, just because it was going up. You're bound to make money, said the shoe shiner. Well, today we're seeing that same sentiment, at the institutional level.
In this episode, I interview Tony Sanders! Tony is a world renowned Storyteller, Content Creator and Show Host. Tony Sanders is the reason you are listening to this podcast because he is also my coach! At What the Quote, we create Kind Humans, who speak Kindness and show Kindness! Each episode begins with the Highly Anticipated theme song (Be A Kind Human) created and sang by the host, Tajuana. Most episodes will include an interview with Kind Humans about what their favorite quote is, who said it and how are they using it to be kind to themselves or to others. The first few episodes Tajuana spends some time talking about herself and some of her favorite quoted Because Tajuana is a certified Life Coach, each episode ends with the Coaching Corner, where tools are given on how to be a Kind Human. Be Kind! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/tajuana-hill/support
My second deep dive pandemic read is Freedom’s Forge by Arthur Herman, covering the history of the United States’ industrial mobilization for World War 2. There is a good deal of resemb… https://www.ribbonfarm.com/2020/07/14/notes-freedoms-forge-by-arthur-herman/ Freedom’s Forgemy previous deep dive, on Barbara Tuchman’s A Distant MirrorJames Giammona William KnudsenHenry KaiserNye CommitteeBernard BaruchWar Industries BoardSix Companies Harold IckesReality has a surprising amount of detailWalter ReutherEliot JanewayHillmanRichmond shipyardsCincinnati Milling MachineBattle of Wake IslandphotosDon NelsonAndrew Jackson Higginsa big steel plant in CaliforniaCharles SorensenYour Business Goes to WarExecutive Order 8802On google booksbaby aircraft carriersSpruce GooseCurtis LeMayOrganization Man@jamesgiammona
Sound Advice: A Hearing Friendly Business Podcast Show Notes & Connections: Reach out to Teresa @teresabarnesrn or TBarne@HearCommunication.com, plus all the other links:https://hearcommunication.com/https://www.linkedin.com/in/hearteresabarnesrn/https://www.instagram.com/teresabarnesrn/https://www.facebook.com/hearcommunication/www.amazon.com › Sound-Advice-Tune-into-Listening Today's episode focuses on listening from a warrior stance on conquering the mountain, which is the hurdle of wearing hearing aid and being brave enough to acknowledge that your ear organs are broken and that those who care about you want you to wear them to perhaps not make their life as difficult. If you are still in the workforce it will help you avoid hearing loss discrimination or being released due to "poor job performance reviews." If you are already retired than listening to this show will help you understand why it's important to know your ADA rights and what not to say to avoid embarrassing a person who has hearing loss. Here are important links to check out and the valuable quotes from INC Magazine: https://www.inc.com/dave-kerpen/15-quotes-to-inspire-you-to-become-a-better-listener.htmlhttps://www.health.harvard.edu/blog/hearing-loss-may-affect-brain-health-2020013118739https://www.elitedaily.com/p/the-true-definition-of-love-in-a-relationship-according-to-9-people-great-im-crying-9384415https://heroeswithhearingloss.org/https://hamiltoncaptel.com/heroes-with-hearing-loss-program-for-veterans.htmlHearing Loss Association of America Association for Late Deafened Adults alda.org Keep Tune In to Listen to Sound Advice: A Hearing Friendly Business Podcast and remember to subscribe and donate what you feel you can afford to keep the podcast going. https://www.paypal.com/paypalme2/hearcommunicationhttps://venmo.com/Teresa-Barnes-33Sponorship Available: Contact@HearingU.com
“The main purpose of the stock market is to make fools of as many men as possible.”–Bernard Baruch For all the pain, suffering, sickness in death, all we have to look forward to if we survive the pandemic, is the worst global economy since the 1930’s. Does one need a financial analyst or a […]
Belajar sejarah tentang tokoh-tokoh saham sukses --- Send in a voice message: https://anchor.fm/sekolahinvestor/message
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind." -Bernard Baruch In this episode, I talk about: How to feel alive The courage it takes to be ourselves How to see in yourself what you see in others Sign up for the ALIVE event in February: www.heatherchauvin.com/alive Continue the conversation on Instagram @momisincontrol
Vi pratar som vanligt om allt som är en del av Det Goda Livet. Pengar, Investeringar, Ekonomi, Lyx, Resor, Relationer, Karriär och Hälsa. I det här avsnittet svarar vi på en lyssnarfråga från Simeon: "Hur vet man vilka böcker som är läsvärda och inte? Och vilka böcker tycker du man bör läsa?". Vi pratar också om investerarprofilen Bernard Baruch och knyter ihop säcken med månadens investeringscase. Trevlig lyssning önskar Daniel & Robin. Vår hashtag är #aldrigmerekorrhjulet och du hittar oss på både Facebook och Instagram. Vill du ställa en fråga till oss kan du mejla oss på info@poddendetgodalivet.se och www.poddendetgodalivet.se.
Everything in life involves risk. Recognizing it and learning to manage it is the key to investment survival in the current market. It's when you're engaging in high risk investing, without recognizing it, that you can really get hurt. Unfortunately, in today's financial system, there are no accurate indicators or risk disclosures. That's why you need to find sources outside the system to learn how to assess and manage your risk. Remember what Bernard Baruch (one of the most successful investors of all time) said, "I got rich letting the other guy make the last 10 percent."
Everything in life involves risk. Recognizing it and learning to manage it is the key to investment survival in the current market. It's when you're engaging in high risk investing, without recognizing it, that you can really get hurt. Unfortunately, in today's financial system, there are no accurate indicators or risk disclosures. That's why you need to find sources outside the system to learn how to assess and manage your risk. Remember what Bernard Baruch (one of the most successful investors of all time) said, "I got rich letting the other guy make the last 10 percent."
Even though World War II started in 1939, the United States did not enter until late 1941 when the Japanese attacked Pearl Harbor. President Franklin Delano Roosevelt's address following the attack stated that it was "a day that will live in infamy" before asking congress to declare war on Japan and its allies. On the home front, America did everything possible to provide supplies and fund the war. Agencies that were led by Bernard Baruch in World War I were once again imperative. Citizens were buying bonds to help our soldiers overseas. Many women were entering the workforce for the first time and picked up the jobs men left behind. All of these efforts continued until the end of the war when the Axis powers succumbed to the Allied powers in 1945. Harriet Magee was just five when the United States joined the World War II. The war was very close to the many members of her family. Living in Duncannon, Pennsylvania, Harriet's father was a contractor who helped construct naval bases and veteran hospitals as well as an air raid warden who would patrol the streets at night. Her cousin, Jack, was in the air corp and an active member in the war. Harriet also would help on the home front doing such activities like looking for airplanes and marching the streets of her hometown waving American flags. Even in adulthood, Harriet helped contribute to the war effort. During the Vietnam War, she was a civilian nurse who helped bring head trauma patients back to the United States for treatment. Later on, Harriet became a teacher and taught at Susquenita High School, continuing to help others.
This week, economist Jerry Robinson is joined by stock market expert, Jim Grant (Grant's Interest Rate Observer) to discuss the life and times of Bernard Baruch, a Wall Street legend that traded throughout the Great Depression.
This week, economist Jerry Robinson is joined by stock market expert, Jim Grant (Grant's Interest Rate Observer) to discuss the life and times of Bernard Baruch, a Wall Street legend that traded throughout the Great Depression.
The Week in Review at the Abbeville Institute, March 20-24, 2017. Topics: Thomas Jefferson, Southern culture, Southern heritage, Southern history, Bernard Baruch, Southern literature Host: Brion McClanahan www.brionmcclanahan.com
ON June 14, 1946 The Baruch plan was proposed during it’s first meeting of the United Nations Atomic Energy Commission. Less than a year after the US dropped fat man and little boy it was time to put in motion a plan to make sure that such destruction could be prevented from ever happening again. Hi, I’m Jack Reichert, I decided to practice my oratory skills by reading speeches and essays. Since I’m already recording it, I thought I’d share it with you. So without further ado. Bernard Baruch’s Speech before the first session of the United Nations Atomic Energy Commission Hunter College, New York
Learn 2 ways you can make money during a stock and/or bond market decline: inverse ETFs and Puts. Listener question: Hi Linda, I’ve been listening to you and I’m concerned about the stock and bond markets. How do you recommend I protect my account? Christy There are 2 ways you can make money during a stock and/or bond market decline: Inverse ETF’s and Puts. Inverse ETF’s are Exchange Traded Funds that make money (go up) when the market declines. You are buying futures, and this was not possible a decade ag????. It was something only professional traders could do. You have to be very careful, it’s not something to buy and hold. You want to trade and be in and out of these. They can move against you quickly. There are about 75 inverse ETF’s providing protection on US equites, government and corporate debt, foreign markets and commodities. One of the most popular inverse ETFs is ProShares Short S & P 500 (SH). If the market dropped about 10%, it would go up about 8%. At the time of this recording, the S & P is up 1% and SH is down 1.9%. The other thing you can do is buy puts. Puts are a bet on the direction of the market. If you think a stock or index is going to decline, you can buy a put, where you risk a limited amount for a specified period of time, typically 30 days???. They are based on time and price. If a stock goes below a specified price you are “in the money”. Part of the price is determined by the time you are holding the option. As it gets closer to expiration, it loses value. You limit your risk to the amount invested. Can expire worthless. Both of these are difficult to get right because you have to know when to buy and when to sell. Timing in a bear market is tricky. Markets tend to go down a lot faster than they go up. They also tend to rebound sharply, so it’s moving in the opposite direction and can cause large changes in the price if you hold too long. The timing is very tricky on either strategy so be very careful when trying to implement them. The other thing you can do is simply wait in cash. By waiting in cash you can wait for a downturn and dollar cost average (that is invest in regular intervals) to buy back in. That will give you a lower average cost basis and allow you to get in at a low price. Bernard Baruch used to say, “Buy when there is blood running in the streets.” I say, “Buy when the news is at it’s gloomiest. When no one wants to buy, that is the time you’ll get the best price.” With the stock market in its 7th year of expansion, it’s reasonable to take measures against a market decline. Use these strategies judiciously - again, I caution you NOT to buy and hold or worse, buy and forget you own an inverse ETF. They are volatile and can move against you quite easily. Personally, I’m sitting out of stocks and investing in alternatives that are not correlated with the stock market. That way, I can take my time and wait for the right opportunity to get back in. Cycles tell us another big tsunami could be headed our way, so IMO it’s a good time to sit out.
In this episode (aired on 8/23/15), host Ron DeLegge talks about the single most important thing all investors should be doing RIGHT NOW. Ron also shares investing gems from legendary speculator Bernard Baruch. Does your portfolio PASS or FAIL? Go to PortfolioReportCard.com to get graded. If you get an "A" grade Ron pays you $100. Follow us on Twitter @ IndexShow
Bernard M. Baruch addresses his alma mater in a series of lectures focused upon the problems Americans face as a nation and as individuals. [Video 1] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “The Dominant Yearning of Our Time.” [Video 2] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “Making Economic Weather.” [Video 3] Bernard M. Baruch's speech is entitled “The Changing Role of Government and What it Means for Each of Us."
Bernard M. Baruch addresses his alma mater in a series of lectures focused upon the problems Americans face as a nation and as individuals. [Video 1] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “The Dominant Yearning of Our Time.” [Video 2] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “Making Economic Weather.” [Video 3] Bernard M. Baruch's speech is entitled “The Changing Role of Government and What it Means for Each of Us."
Bernard M. Baruch addresses his alma mater in a series of lectures focused upon the problems Americans face as a nation and as individuals. [Video 1] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “The Dominant Yearning of Our Time.” [Video 2] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “Making Economic Weather.” [Video 3] Bernard M. Baruch's speech is entitled “The Changing Role of Government and What it Means for Each of Us."
Bernard M. Baruch addresses his alma mater in a series of lectures focused upon the problems Americans face as a nation and as individuals. [Video 1] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “The Dominant Yearning of Our Time.” [Video 2] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “Making Economic Weather.” [Video 3] Bernard M. Baruch's speech is entitled “The Changing Role of Government and What it Means for Each of Us."
Bernard M. Baruch addresses his alma mater in a series of lectures focused upon the problems Americans face as a nation and as individuals. [Video 1] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “The Dominant Yearning of Our Time.” [Video 2] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “Making Economic Weather.” [Video 3] Bernard M. Baruch's speech is entitled “The Changing Role of Government and What it Means for Each of Us."
Bernard M. Baruch addresses his alma mater in a series of lectures focused upon the problems Americans face as a nation and as individuals. [Video 1] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “The Dominant Yearning of Our Time.” [Video 2] Thomas C. Norton, Dean of the Baruch School of Business and Public Administration at CCNY introduces the event. Buell G. Gallagher, president of CCNY introduces Mr. Baruch. Mr. Baruch's speech is entitled “Making Economic Weather.” [Video 3] Bernard M. Baruch's speech is entitled “The Changing Role of Government and What it Means for Each of Us."
The American Economy and the End of Laissez-Faire: 1870 to World War II
Bernard Baruch ran WWI as an absolute collectivist controller. The Federal Reserve was created in 1913 by Morgan men to cartelize the banking system and limit competition. Production and prices were regulated via the corporate state. Morgan men wrote the FTC- Federal Trade Commission Act. Progressive means statist and corporatist. The New Republic, a proto fascist magazine- appeared.Banks create fake warehouse on-demand receipts. One was a note, but the more sophisticated way was by having open-book accounts by which you have a demand deposit, not a bank note. The check is a transfer order and the temptation for counterfeiting fake warehouse receipts was great. This is fractional reserve banking. Rothbard thinks it is fraud. It increases the money supply in an inflationary manner by creating money out of thin air. All banks are technically insolvent. The Central bank system is a partnership between government and private banks. It is a coercive monopoly cartel.Lecture 10 of 13 presented in Fall of 1986 at the New York Polytechnic University.
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