The move is no surprise. Zurich decreed (pdf) they would peg 1.2 EUR (minimum) with unlimited printing. For all we know, Zurich executed 100% of all CHF sells (EUR:CHF 5 days). Perhaps with all those EUR and USD, Switzerland can expand the Confederation.

Counter intuitive? CHF value dropped 8% precisely to 1.2 EUR after the Swiss bank announced they will print unlimited numbers of CHF in order to peg 1.2 EUR. I'd say the market reacted symphonically.

But this has me convinced gold will continue higher and higher still. Even the strong currencies are devaluating. Unless the US defaults, I don't see any upper limit to gold and silver. Yes, I'm an inflationist.

Whatever we think of it is legally irrelevant. Perhaps it will define a new asset class. But if the European Union accepts bitcoin as money, to settle all debts public and private...

I discussed setting up a financial business with my lawyer in Denmark (because of certain off-shore legal properties) and found the 2009 Consolidation Act quite interesting. The first two pages list numerous previous laws (many European) that this act considers/consolidates/supersedes. It breaks businesses into a number of categories, credit, investment, insurance, etc for those located within, without, and dealing with customers within and without Europe. It looked like one million EUR just to start the process.

But I agree with Tux's defense in summary. Bitcoin is not money any more than collectors items such as baseball cards, prime numbers, or gold. Ben confirmed under oath that gold is not money, but the European Union reserves a special legal place exclusively to gold and no other commodity. If bitcoin is money, that opens up a larger can of worms for the EU.

0.79 to 0.86 from this morning's breakfast to high tea in Zurich.

Monetarily, bitcoin is far from deflationary and won't be monetarily stable for years. The fact that prior to this northern summer, the demand outpaced the supply does not imply that bitcoin is or will be inherently deflationary, only that bitcoin were appreciating against most other currencies in the past. Electronics are deflationary because the good actually loses value as newer, faster, smaller, better, cheaper electronics come on the market. Unless owners are hoarding the majority of their wealth in bitcoin, bitcoin appreciation should not detract from investment in bitcoin projects. Is the converse true, that with rapid bitcoin devaluation over the last few months, investment is surging?

Yeah, and the skies are most often clear, visibility unlimited, boring sunsets/rises are rare, something about the air (dry ambient light?) is perfect for photos. Mountains shoot a kilometer vertical from the sea. Either midnight sun or glorious northern lights a few nights a week.

Reindeer is good and muskox is quite tasty too. And its all 100% free range organic fresh and cheap (in season). Fish, whale, and seal is an acquired delicacy. Most everything imported (which is a lot of 'normal' food) is very expensive. Like a wilted yellow broccoli for $10, but we have abundant vitamin rich flora four months of the year. Most of my veggies are frozen, milk is sealed ultra pasteurized, eggs are expensive. There has been some success growing barley and other grain in the south which hadn't grown there in 400 years. We've got potatoes and such in the fjord whose output is small, but packed with flavor and vitamins (the best though most expensive strawberries come from near the arctic region, such as Norway).

Living in the city here is as I imagine it will be like to live on Mars. Its extremely modern though you never lose touch of the extremities around you.

We've got flight connections through Copenhagen and Iceland. There are charters from Canada and the States, typically from the mining and oil industry, but also tourist scientific expeditions.

Min kæreste er en smuk dansker. Er du dansk?

...any longer. Bitcoin went parabolic in May and overshot in June. Unlike Nasdaq (though a bit like Gold), bitcoin has done this several times in the past score months, most notably October, November 2010.

BINGO! That people are not buying bitcoin tells us nothing about its perceived value (interest).

I live in Qinngorput, Nuuk. Just climbed down from 1657m north of Kapisillit by the ice sheet where it was snowing horizontal.

Greenland is paradise. You get used to the cold, it's dry and gorgeous. Half of my calories in the last week were from blueberries, black berries, gooseberries, mushrooms, reindeer, and washed it all down with 100000 year old glacier water.

I figure if the global economy gets bad, it'll be really bad in Greenland. But we're experimenting with greenhouses (hydro-electricity is cheap and plentiful) and there's a good chance we have some of the largest untapped oil fields in the world. Still, temperate fruits, veggies, and dairy will be seriously reduced from my winter diet.

But if it gets Armageddon bad, Greenland is about the only place I'd want to be. We can be 100% self-sufficient and we practice it every once in a while (for example, the Iceland volcanic ash clouds knocked out all perishable imports and exports for a month).

But as far as escape plan, after what signal would you decide to move? Let's say hyperinflation kicks in and prices are doubling monthly. Even if you could afford a plane ticket, do you think the planes are gonna be on the same schedules to remote locations?

Take a look at page four of an USA passport:

and from the State Dept: Renunciation of U.S. Citizenship

and US Tax Form 2555-EZ (pdf) if your income is exclusively foreign earned (up to 91500 USD is exempt if you haven't set foot in the States for more than 34 days and other fine print).

I'd like to order that you order your orders...



by price not chronology.

"Not a bubble now" or "wasn't a bubble in June"? Because Nasdaq 1997 to present looks suspiciously like bitcoin late May to present. Nasdaq may endure just as bitcoin may endure.

Muskox bone is textured and very beautiful. I'm sailing and climbing north of Kapisillit near the icesheet (1657m, top right of map) late tomorrow and should be back next week with photos of some bone options. I'll also have more clarity on US shipping and import law then (if not tomorrow).

UPDATE: OK, so these pieces are nearly the same shape. They are carved into humpback whale tails (a glorious site to see the broad tail as these beasts dive deep).  On the left below is reindeer antler (reversed in the other photo). The reindeer is a particularly nice piece because the colors look a bit like a whale does (though much lighter). But in the middle below is muskox horn carved quite thin (but still indestructible) and colors come through in beautiful patterns. In other words, it matches everything. You boys might not know this, but your girlfriends want this. These whale tails and Nuummioq are going for $32 or €25.

I know some of the artists personally, which is a given considering there are only 57 000 people on the entire island though it's 3x bigger than Texas or France.



That would be a good idea. You'll get nailed on the shipping, but I can bundle a bunch in the same package for about the same shipping price. I'll take a photograph of some samples in the small/inexpensive range.



Mentioning polar bear was a marketing stunt. It's available but few can afford it. We try to scare the bears away from town, not kill them. I prefer to think the Greenlanders would not be tempted to poach bears for any price.

Note that seal are not endangered, but I believe the US has an import ban on all sea mammalian products. I'll double check.



The tradition is to curse. In fact... this gets complicated... people only die because they've disrespected life, whether animals or fellow man. If someone dies, it's assumed he was cursed. Maybe he deserved it. For example, when a seal is hunted it is thanked, the seal is respected, the spirit is fed water and offered gifts. If the seal is honored he may help the hunter in the future otherwise he may harm the hunter. A great hunter respects his prey. If he dies, it was probably because someone was jealous.

Anyway, in the past tupilak were pretty rare. Today with some tourist opportunity tupilak are more common and no curse is attached to them. To activate them you'd take some hair from the victim, perhaps some blood, and drown it with the tupilak. Or something like that. I'll go search for a more authoritative exploitation explanation.

Its all intent, but the tradition is for magic not beauty. Other fine bone sculptures and figures are also common today such as polar bears and whale (made from reindeer bone/antler). These can be necklaces too. In fact, seal claws are pretty wild looking, though I don't think I can export them to the States.



What are endangered and what are illegal to import have little to do with each other. Some seal and whale which are not endangered are still illegal to be imported into the United States. I won't trade in endangered species anyway. How about the most 'exotic' from an American perspective, like muskox, sledge dog, arctic hare?



Interesting. Well part of that is upon you, like digging up their ancestors or extracting their blood, semen, spit, etc. I'll see what I can dig up.



If you get some friends together, I can send a combined package. Otherwise I think the shipping cost might be on par with the piece. Though, Kgo, as we've done business together in the past, I might use you as the guinea pig sale. I'll accept the risks.

Evoorhees, I applaud your efforts. I did not get a chance to read the TED page, but I would have thought TED would be receptive to nouveau Technology Et Design.


But in general, I have to admit Tasty Champa makes a good point. People are impressed with results not ideas. Of the Jungian sensing/intuition dichotomy, 70% of people prefer (perceive the world through) sensing rather than intuition (saying nothing of general resistance to advertising).

My buddy is teaching survival courses up in Greenland. We've got gobs of ancient pristine water, plenty of wildlife and fish, and a culture prepared to go medieval. You can stay at my place, with gorgeous views of the mountains and sea.

I'd like high denomination(s). How many do you have and in what condition?

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