China Is Asked for Investment in Euro Rescue

A new chapter is being written in the History of Money, Bank and Credit as news of how European leaders are asking for China to rescue them from the chaos they created. I wish this guys reconsidered before continue acting some of the most important principles of Deficit Financing, Freedom, Inflation, Money, Property Rights, Savings, Welfare State, Consumption, Credit; Gold Standard, Market Value, Objective Theory of Values, Production, Purchasing Power, Sanction of the Victim, Selfishness and the Trader Principle just to mention a few before going on making more business that en debts their country’s economy while make their citizens poorer.

And as Ayn Rand cleverly mentioned in regard to Deficit Financing,

The government has no source of revenue, except the taxes paid by the producers. To free itself—for a while—from the limits set by reality, the government initiates a credit con game on a scale which the private manipulator could not dream of. It borrows money from you today, which is to be repaid with money it will borrow from you tomorrow, which is to be repaid with money it will borrow from you day after tomorrow, and so on. This is known as “deficit financing.” It is made possible by the fact that the government cuts the connection between goods and money. It issues paper money, which is used as a claim check on actually existing goods—but that money is not backed by any goods, it is not backed by gold, it is backed by nothing. It is a promissory note issued to you in exchange for your goods, to be paid by you (in the form of taxes) out of your future production.

“Egalitarianism and Inflation,”
Philosophy: Who Needs It, 133

Read more of this news:

PARIS — A day after European leaders unveiled their latest plan to save the euro, top officials opened talks with China in an effort to lure tens of billions of dollars in additional cash, giving China perhaps its biggest opportunity yet to exercise financial clout in the Western world.

China is expected to demand significant concessions, including financial guarantees and limits on what Beijing sees as discriminatory trade policies, in exchange for any investment in Europe’s emergency stability fund. The head of the rescue fund, Klaus Regling, got a cautious reply from Chinese officials Friday during a visit to Beijing, where he said he did not expect to reach an investment deal with China anytime soon.

A senior Chinese official, Vice Finance Minister Zhu Guangyao, said China — like the rest of the world — was still waiting for the Europeans to deliver crucial details on how the rescue fund, the European Financial Stability Facility, would operate and be profitable before deciding on whether to participate. via: China Is Asked for Investment in Euro Rescue by Liz Alderman and David Barboza.

Eurozone seeks bailout funds from China (rightways.wordpress.com)
You: Europe Seeks Chinese Investment in Euro Rescue (nytimes.com)
Repeat: EFSF, China Talk; Downplay Any Immediate Contribution (forexlive.com)
Update: EFSF and China Talk, Downplay Any Immediate Outcome (forexlive.com)
EU to China: Lets make a deal (theglobeandmail.com)

Finally, we are 7 Billion

Video: 7 Billion,National Geographic Magazine

The human population on planet Earth has reached for the first time in history 7 billion as reported by the United Nations^[1]. As of today, October 28, 2011 at 16:44 (GMT+1) it was estimated to be 6.92 billion by the United States Census Bureau^[2] and you can check their World Population Clock. and 7 billion by . But also, we can also acknowledge that this is also the first time in human history in which most humans have access to medical services, potable water, electricity.

As Susa Lewis from Nova acknowledges, “For most of human existence our ancestors led precarious lives as scavengers, hunters, and gatherers, and there were fewer than 10 million human beings on Earth at any one time. Today, many cities have more than 10 million inhabitants each, and populations continue to skyrocket.”

Largest Urban Agglomerations, 1975, 2000, 2025

Source: United Nations, World Urbanization Prospects: The 2007 Revision.

Also, the UN World Urbanizaiton Prospects reviewed that “Through most of history, the human population has lived a rural lifestyle, dependent on agriculture and hunting for survival. In 1800, only 3 percent of the world’s population lived in urban areas. By 1900, almost 14 percent were urbanites, although only 12 cities had 1 million or more inhabitants. In 1950, 30 percent of the world’s population resided in urban centers. In 2008, for the first time, the world’s population was evenly split between urban and rural areas. There were more than 400 cities over 1 million and 19 over 10 million. More developed nations were about 74 percent urban, while 44 percent of residents of less developed countries lived in urban areas.”

Nova has the following interactive map in which you can trace the dramatic growth of human populations over recent centuries, and see where on Earth as many as three billion more people may live by 2050.

Launch Interactive – Printable Map Version

New challenges for humans will continue appearing with so many of us living here. However, it is not the number what really matters but how we are all going to live here. Currently, Thomas Malthus famous argument from 1798 in which he said “that population growth was a critical problem, reasoning that because human population grows exponentially while our food supplies grow linearly, that our growth would lead to massive problems” has already been proven wrong.

But what has still not being solved is the current philosophical crisis in which we live. For a great part of human history, the world has been ruled by a collectivist philosophy of life that in the words of Ayn Rand “promoted the subjugation of the individual to a group (kings, oligarchs, nobility, religions, patrimonialists, corporations, parties, communities)—whether to a race, class or state does not matter. Collectivism holds that man must be chained to collective action and collective thought for the sake of what is called “the common good.” The previous sentences are very important and cannot be passed without understanding its historical results. You can further explore them in the work of Leonard Peikoff titled “The Ominous Parallels“.

For more information regarding human population check the following links:

World Population Information

Human Population Reaches 7 BillionHow Did This Happen and Can It Go On? (scientificamerican.com)
Population scare: Seven Billion people on the planet (daljitsingh.co.uk)
What was the world’s population when you were born? [Culture] (io9.com)
What number are you in the world population? (telegraph.co.uk)
Visualization of the Week: 7 billion humans (radar.oreilly.com)
UN: World population to reach 7 billion on Oct 31 (laaska.wordpress.com)
Just one of 7 billion reasons for optimism (theage.com.au)
Seven billion reasons to think about sustainability… (thepunch.com.au)
World Population to Hit 7 Billion in Five Days: UN (ktrmurali.wordpress.com)

The Great Narrative and the School of Salamanca

The Great Narrative in regard to 16th Century Spain is focused on the expansion of Spanish Mercantilism in America and in how the Ottomans were defeated at the naval Battle of Lepanto bringing their dominance of the Mediterranean to a close.

Sadly (to a great extent), this Euro-centric perspective started to change and more emphasis was given to the production of knowledge in the Peninsula via the appropriation of the culture and scientific knowledge brought to Europe by the al-Andalus Muslims. The Great Narrative and its “Western exceptionalism” discourse won the battle again and it focused on how “Europe” or the “West” acquired this knowledge and created a “Renaissance of Knowledge” while forgetting the source of it.

This Western Renaissance is today widely know and studied as the School of Salamanca. A School that Western historians like to remember as the product in 100% of Catholic Religion, Spanish rationalist theological work, Western humanism and by the Protestant Reformation that was consolidated in Salamanca with the writings of the Scholastics Francisco de Vitoria, Domingo de Soto, Martín de Azpilcueta (or Azpilicueta), Tomás de Mercado, and Francisco Suárez.

The “non-western” roots of this Renaissance in the Spanish Peninsula are still not well discussed nor researched. There’s still the need for further study the inherited knowledge from the al-Andalus Muslims (who were later known as Mudéjars) and to establish a direct link of many of the roots of “Europe’s Renaissance” in places as far as the Tigris and Eufrates.

Today, my book recommendation will be a great work that exemplifies how this Great Narrative idealized the School of Salamanca as the product of 100% “Western values”. It is worth reading and studying carefully in order to not commit the same mistakes.

The School of Salamanca

Marjorie Grice-Hutchinson’s remarkable classic, The School of Salamanca, posed an extraordinary challenge when it first appeared in 1952. The book is not only a pioneering presentation of this lost school of monetary theory—fantastic thinkers of Old Spain that were more advanced than the English classicals centuries later–it is also beautifully written.

Reenacting The Battle of the Nations 16-19 October, 1813

Today I had the pleasure of attending (living) the reenactment of The Battle of the Nations (also known as The Battle of Leipzig) that took place half mile south of Leipzig on 16-19 October, 1813. The battle was fought by the coalition armies of Russia, Prussia, Austria and Sweden against the French army of Napoleon. Napoleon’s army also contained Polish and Italian troops as well as Germans from the Confederation of the Rhine. The battle involved over 600,000 soldiers, making it the largest battle in Europe prior to World War I.¹

This allied victory over Napoleon at Leipzig marked the first significant cooperation among European nations against a common foe. “Napoleon limped back toward Paris. Behind him he left 60,000 dead, wounded, or captured French soldiers. The Allies had lost a similar number, but they could find replacements far more quickly and easily than Napoleon. Other countries, including the Netherlands and Bavaria–which Napoleon had added to his confederation by conquest–now abandoned him and joined the Allies. On December 21, the Allies invaded France and, following their victory at Paris on March 30, 1814, forced Napoleon into exile on Elba.”²

Indeed, it was the cooperation of all the region’s powers that Leipzig led to the fall of Paris and the abdication of Napoleon. The decisiveness of this battle had a global impact that redefined the course of history.

I invite you to see all the pictures I took of this fantastic battle:

Check dozens of more pictures in my Flickr album

¹ Battle of Leipzig. Wikipedia.

² Vía http://www.historyplace.com

Friday Book Review: “1493” by Charles C. Mann

Reviewed by Marek Kohn, Financial Times

“In hindsight, 1492 might have been a good point at which to reset the calendar. Traditionally, the year in which Columbus discovered America is seen as the moment Europe began to shape a New World. Today it looks more like the start of a process that has stitched the drifting continents back together: 1492 was the Year Zero of globalisation, and 1493 was Year One.”