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I've returned back to America. Some of you might know, I was recently in Berlin, Germany. Not perfect, But admittedly freer in many ways (for a traveler, especially) than the US. I will say, though, the US has excellent customer service when it comes to customs. I was able to check-in to the US with customs in Ireland! I didn't have to wait to get to US soil. The US instead has its own very large office at the Dublin Airport. What a great service.
I even got to go to US secondary…in Dublin. Few were so lucky. When I entered, about four other people were there. I smiled. One welcomed me "to the club." I was immediately helped my a US official stationed in Dublin.
"The problem, you see, is we don't know what your bag is you checked in. Per our agreements with other nations, we have the right to inspect your bag on their territory. So have a seat and we will see if we can get you out of here before your flight leaves." (that was two hours away)
"Ok," I said. "Do you by chance have any coffee?"
"No."
So, I guess customs could have done better, but I was immediately helped thereafter.
"Mr. O'Connell." I got up and walked to the booth.
"We've seen your bag. Is this it?" the friendly man asked.
"Yes, that's it."
"Okay, you're good to go. Now we can properly inspect it to keep us all safe." I began to walk away, but he stopped me.
"Justin," he said. I turned around.
"Welcome home," he said, nodding his head.
"Thank you," I said, giving him a thumbs up.
I went on my way, and returned home. When I got back to New York, I was pleasantly surprised that my bag had made it home. It had two new tags: one from the German Bundespolizei and one from the Transportation Security Administration, underscoring the lack of trust between allies. All of my razors were gone. You know, the kind of razors with 5,000% margins? My snuff made it through, though…
Now, I got to check-in for my flight to San Diego. I got my boarding pass, and walked to the security checkpoint. It was pure americana. 200 people in a long, slow line, 50 TSA agents and 10 microwave ovens for passengers. Once I got to the front of the line, I took off my hat, my jacket, my sweatshirt, my belt, my shoes. I put my clothes, shoes, wallet, my keys, passport and electronics into four different bins. Then I got to the TSA agent.
"Umm, I played too much baseball and now I can't raise my arm. So, I think I need a patdown.
"Ok, stand there," he told me, as my valuables were lost out of sight in a sea of swiftly moving people.
"Male Opt Out," he yelled, before three TSA agents repeated him. "Opt out," Opt out," "opt out," they yelled out. Another one of their ranks walked up to me, then told me to follow him. We grabbed my stuff, which only he could touch. Then the best part.
"Okay," he started, "now I am going to touch you on your waist, your scrotum, your buttox, and underneath your the top of your boxers, up and down your groin, your thighs, etc. and you're going to be cool with it, right?"
"Right," I said. He went on with it, and we made small talk.
"So why can't you raise your arm," he asked.
"Baseball."
"Oh, I am from Puerto Rico, that's our sport man."
"You're from Puerto Rico?"
"Yeah a bunch of us are," as he pointed around to some other TSA agents.
I smiled. I knew I was home to America. Home where things have grown stranger and more boring after the towers and wars. I thanked him for the erotic greeting home.
Now, I will pay extra close attention to our subscriber publication, so I can prepare myself for the Permanent Traveler lifestyle. I am on its doorstep.
Regards,
Justin O'Connell, Head Researcher
Before we get to the review, let’s have a look at what we discussed in this week’s subscriber-only TDV Issue.
In my “Memory Hole”, I considered central banking through the lens of Bank of England Governor Mark Carney.
Next, in his “Big Picture”, Jeff Berwick argued it’s time for you to start a business. Then, Ed Bugos checked in with his “Portfolio: Review and Outlook”, followed by Jeff’s look at the absurd stories of statism from around the globe.
James Guzman was back in our pages with an interview with TDV correspondent Alexander Jousse, and his thoughts on Italy. Then, the irascible Jim Karger shared part of his presentation from TDV’s Wealth Management’s Crisis Conference in Panama.
Finally, we looked at your portfolios and profile Hollywood conservative Vince Vaughn.
If you’re interested in receiving articles beyond what you read here, consider our weekly subscriber-only publications, like our Issue, Dispatches, and Homegrown. You may subscribe here.
On to the review…
Monday February 24
MT. GOX IS FINISHED & BITCOIN IS STRONGER THAN EVER
Justin O’Connell looks at the ongoing saga of bitcoin.
“Mt. Gox is dead. There is not much a chance they will be able to overcome the press of the past four months and re-establish themselves as a trustworthy bitcoin wallet and exchange. And they haven't even gone bankrupt yet.
For that reason, bitcoin is now stronger than ever. Although mainstream press outlets may give you a different, false idea.
The writing has been on the wall. 2013 was a scandal-laden year for Mt. Gox, as the feds seized $5 million from its bank accounts, a $75 million lawsuit with a former partner manifested, and its US banks accounts were closed resulting in the company's inability to get funds to US customers.”
Tuesday February 25
DO FINANCIAL EXECS COMMITTING 'SUICIDE' KNOW SOMETHING WE DON'T?
Wendy McElroy on a disturbing trend in the offices of high finance.
“But the simmering scandal points equally to an explanation other than conspiracy. The deaths could easily be ascribed to bankers who are unwilling to face the ordeal of a Forex expose bursting into the spotlight. Whatever the cause, the high death rate deserves attention because it indicates something badly amiss in the macro-financial world. Something may be about to spin out of control.
Of course, the death rate could always be the result of a statistical problem called the clustering illusion by which random events appear to be clustered or related. But I doubt it. There is a strangeness in the details of most of the deaths that does not fit neatly into a pattern of suicide. Moreover, if the JP Morgan people were actually investment bankers and so related, the cluster illusion explanation is unsatisfying.”
Wednesday February 26
THE COMING EASTERN BAILOUT & WHAT TENSIONS IN THE UKRAINE MEAN FOR YOU
Jeff Berwick has a TDV look at the chaos in Ukraine.
“The geo-political stakes in the Ukraine have brought us to a quasi Cold War redux, as western powers the European Union and the United States have made it clear their intention to "support" (read: meddle in) the Ukraine. In the meantime, Russia has sent troops to the border of the Ukraine in what are being called exercises.
Turkey is experiencing protests and violence due to corruption by the government, and Venezuela is also experiencing protests and violence. The "global political awakening" has gone hot on multiple continents.”
Thursday February 27
HOW THE UNITED STATES IS WORKING TO BAN BITCOIN & WHY IT DOESN'T MATTER
Jeff Berwick with more on bitcoin’s struggles.
“Dinosaurs will die. And decentralized systems – like bitcoin and 3D printing and even WordPress – are the asteroid which will ensure just this.
I've been doing a lot of thinking, and I simply don't think totalitarianism can withstand the global political awakening we see taking shape before our very eyes.
Things are changing on Planet Earth. I can tell because the dinosaurs are getting desperate.
The United States as whole looks a whole lot to me like the German Democratic Republic (East Germany) did during its existence. My head researcher Justin O'Connell and I were just talking about how the wall fell, and he cleared some things up for me I wasn't 100% sure about. He will be writing an article on that in the coming week…”
Friday February 28
In this week’s feedback: Bitcoin, JP Morgan suicides, bartering, and more…
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Managing Editor
