December 2003 - cypherpunks-legacy

IP: SOROS: Must have economic "third way"
by Vladimir Z. Nuri 17 Dec '03

17 Dec '03

From: believer(a)telepath.com Subject: IP: SOROS: Must have economic "third way" Date: Tue, 06 Oct 1998 08:56:17 -0500 To: believer(a)telepath.com Source: The London Independent U.K. Section http://www.independent.co.uk/ Soros calls for new cash restraints GEORGE SOROS, one of the world's leading financiers, launched a scathing attack yesterday on governments and bankers alike for causing a financial crisis so severe that it could topple the world's economic system. "I am very concerned because it will lead to basically the breakdown of the global capitalist system," he said. Coming from a pre-eminent global capitalist, his words are all the more striking because he advises new restraints on the movement of international cash. He spoke as the annual meetings of the International Monetary Fund and the World Bank wrestled with a financial crisis that has wrecked Asia and Russia and now threatens Latin America. Mr Soros, in his speech and in a book to be published next month, attacks free marketeers - or "market fundmentalists," as he calls them - for weakening the world financial system, impoverishing developing countries and threatening democracy itself. Governments have botched their efforts to tackle the crisis. "The authorities have failed to control the situation," he said. "The G7 or the G whatever should have been shut into a room and hammered this out." Mr Soros said that in the future, limits would have to be put on the global casino to prevent it from destabilising states and societies. "Some restraints on capital movements would have been very useful to protect countries against the onslaught of the wrecking ball," he said. "The free movement of capital, totally free flow, is not advisable." Mr Soros is chairman of Soros Fund Management, a leading financier who speculated against the pound - and won handsomely - in 1992. But he has become increasingly convinced that pure capitalism is just as dangerous to the world as communism, and has become a leading advocate of an economic third way. "We have been living with and basing ourselves on a false model of how financial markets operate," he said. Markets are capable of tipping into instability so severe that it threatens the roots of democracy itself. "It is market fundamentalism that has rendered the global capitalist system unsound and unsustainable," he writes in his book The Crisis of Global Capitalism, a section of which was released yesterday. So great had financial instability become that "market fundamentalism is today a greater threat to open society than totalitarian ideology", said Mr Soros, who grew up under first Nazi, then Communist rule in Hungary. "Market forces, if they are given complete authority even in the purely economic and financial arenas, will produce chaos and could ultimately lead to the downfall of the global democratic capitalist system." The impact had been particularly hard on developing nations forced to follow the course set by western institutions and banks, he said. "Conditions have tilted too far towards the countries at the centre of capitalist system to the detriment of countries at the periphery. These conditions are unsustainable." The only way to recover from the present crisis was to organise flows of capital back into the developing countries, he argued, but so far the IMF and western governments had been unwilling to meet this challenge. City staff braced for tidal wave of sackings as banks cut back Morale among City high-flyers has reached rock bottom as they brace themselves for a wave of redundancies over the coming weeks as a result of the global financial crisis. Although redundancies have now, so far, been limited, the fear of real collapse and a return to the austerity of the early 1990's when blue chip firms like Goldman Sachs were laying off staff by the thousand, means conspicuous consumption and optimism are becoming a thing of the past. The latest to feel the chill are staff at Warburg Dillon Reed, one of the City's top securities firms who are braced for substantial lay-offs in the wake of last week's disclosures that the bank's Swiss parent has suffered serious losses from its investment in high risk hedge-funds. Insiders say that Warburg's 4,500 London-based staff expect announcements detailing cutbacks later this week. The latest quarterly survey of the UK Financial Services industry by the Confederation of British Industry and consultants PricewaterhouseCoopers yesterday showed business confidence among financial sector firms falling to its lowest for eight years. Firms which have already announced lay-offs since this present bout of turmoil hit financial markets include ING Barings, Robert Fleming and Japanese firms Daiwa and Nikko. One of the larger firms Merrill Lynch has already cancelled its Christmas Party and ordered staff to cut back on overseas travel, entertainment and the use of mobile phones in an attempt to save £150m this year. The firm lent billions to high risk hedge funds. Jobs cuts are expected to follow. It is widely feared that at least one big international bank could go under because of losses to these highly speculative investment operations despite last month's £2.4bn bail-out of Long-Term Capital Management by a consortium of big international banks. With nervous investors sitting on their hands, traders have had more time to spend in City drinking haunts to drown sorrows and swap tidbits about the latest bank to hit trouble. The cutbacks are likely to be even more painful this time round because of the speed with which this crisis has hit. Many firms were still out there trying to recruit until late into August, pushing up salaries for some categories of staff to stratospheric levels. Now those expansion plans have gone on hold. Prestige office developments in the Square Mile are being shelved as demand for space has vanished overnight. "First to rise, first to go," said Joseph Toots, a stockbroker, sipping a glass of zinfandel in a Broadgate winebar. "My job may be a trifle insecure at the moment, but who knows, lets wait until Christmas." Mr Toots knows his bonus which last year was "definitely six figure", will be minimal this time around. "Good thing I bought my house outright," he said. But it is not just sports car dealers and Dom Perignon stockists who are monitoring the situation with gloomy eyes. The downturn in the City is hitting at a time when High Street shops are already deserted as a result of the huge rise in the cost of borrowing since last year. Contrary to common perception the City is not the place where everybody earns a half million pound bonus; many thirty-somethings are pushing themselves to the limit, earning what sound like fat salaries until you hear their commitments. It is these middle-class, high-income people, whose wealth is more a prospect than a reality who may be hit the hardest. "We are going to have to have a serious rethink about everything," said Julia, a consultant. She says she and her husband are delaying the day when they will have to sit down and face financial reality. "We earn almost £100,000 between us, but with the mortgage and the school and the nursery fees (they have three small children) we're not going to survive like this." She says she was depending on her share portfolio to cover the mortgage on their three bedroom terraced house in Islington and it doesn't anymore. "The house may have to be sold," she says, "and god knows how we will afford the school fees." It may sound like a yuppie problem, but smaller things have been known to drive people into domestic conflict. Isobel Thacker, a banker, said the same problem has just made her cancel plans to move house. "I can't afford to move anymore, we're all staying put," she said. ----------------------- NOTE: In accordance with Title 17 U.S.C. section 107, this material is distributed without profit or payment to those who have expressed a prior interest in receiving this information for non-profit research and educational purposes only. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml ----------------------- ********************************************** To subscribe or unsubscribe, email: majordomo(a)majordomo.pobox.com with the message: (un)subscribe ignition-point email@address ********************************************** www.telepath.com/believer **********************************************

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Re : IP: Microchip implants to foil VIP kidnaps
by Michael Motyka 17 Dec '03

17 Dec '03

> ITALIAN dignitaries who fear being kidnapped are having > microprocessor homing devices planted in their bodies so police can > track them down if they are abducted. > Where can I buy one of these things for my cat? My master password is tatooed inside her upper lip. This brand new GPS system works through a metal barrier? For transport just tuck the subject in the back of an aluminum cargo truck and for long-term storage use a metal wharehouse. Contrary to popular belief there is not a technical solution for every problem. How about -well-paid- bodyguards? Ask an engineer to solve a problem you get Tom Swift and his amazing electrogenerating geodetector. Ask a politician to solve a problem you get a law. Ask a doctor to solve a problem and he'll either cut or medicate. Ask a soldier to solve a problem... And so on... I suppose ridiculous solutions are fine as long as they make money or fame for someone.

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RE: GPL & commercial software, the critical distinction (fwd)
by Matthew James Gering 17 Dec '03

17 Dec '03

Jim Choate wrote: > > The only problem is your statement that one can dominate > > "saturable" markets without some artificial "mechanism." > > Who said anything about 'artificial'? I did. I state you cannot have a coercive monopoly without artificial barriers (and hence a free market cannot have a coercive monopoly) and you disagree. I am not sticking any terms where they don't go, you have consistently theorized monopolies can exist in a free market. Perhaps you should re-read my statement and not assume negatives where I clearly did not write them. > talking a free-market, there are *only* two participants; That is a twisted and absolutely unjustified definition of a free market. A free market lacks forceful restriction or prohibition of free [consensual] trade. EXCEPT that which violates individual rights. I will argue that an anarcho-capitalist market that treats force as a commodity is NOT a free market. There can be participants acting as agents, intermediaries and arbiters for the traders. > > If you mean dominate by > > market share, then sure that is possible. > > I mean *dominate* the market. You cannot define a word with itself. What is *dominate* in context of a market, and does that dominance imply the possession of arbitrary power? > > have arbitrary power over the market -- that is the > > definition of a coercive monopoly. > > No, that is the definition of monopoly. The only valid definition, yes. I will gladly accept the invalidation that dominant or exclusive market share necessarily constitute a monopoly, as that does not in itself prove arbitrary power (immunity from market economics). > > You will find that that is not possible without an > > artificial barrier to competition. > > Demonstrate please. The problem with this view is that it > implies that given sufficient time *any* market strategy > will fail. In other words there is no best or efficient > strategy for a given market. There is but ONE market strategy: to price at a point lower than new entrants could sustain their business, and constantly increase productive efficiency and reduce costs. This works great in the short term, especially in emerging industries, but it is statistically improbable for a company to maintain perfection. The market is not static, it is always changing and technology often favors new entrants who are not encumbered with legacy technology. It is less relevant that such a company is unlikely to maintain that position forever, but that such efficient dominance is good for the market. Productive efficiency raises the standard of living. Matt

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IP: Microchip implants to foil VIP kidnaps
by Robert Hettinga 17 Dec '03

17 Dec '03

--- begin forwarded text Delivered-To: ignition-point(a)majordomo.pobox.com From: wtberry(a)sprintmail.com To: ignition-point(a)majordomo.pobox.com Date: Mon, 5 Oct 1998 20:07:28 -0700 MIME-Version: 1.0 Subject: IP: Microchip implants to foil VIP kidnaps Sender: owner-ignition-point(a)majordomo.pobox.com Precedence: list Reply-To: wtberry(a)sprintmail.com Source: Electronic Telegraph, Issue 1229, 6 October 1998 Microchip implants to foil VIP kidnaps By Bruce Johnston in Rome ITALIAN dignitaries who fear being kidnapped are having microprocessor homing devices planted in their bodies so police can track them down if they are abducted. The microchips - called Sky-Eyes - were originally developed for intelligence use by Israeli researchers. Rome's La Repubblica newspaper described the latest development as a "biological adaptation" of the Global Positioning System, which is already in use to protect luxury cars from being stolen. Sky-Eyes are sold by a company called Gen-Etics, which has patented the device for private use but which is cautious about supplying further details, in order to protect its clients. Sky-Eyes are said to be made of "synthetic and organic fibre". They reportedly run on such a small amount of energy that this can be "borrowed" from the human body. The chip is supposed to be invisible to both the naked eye and to X-rays. A person who carries it is supplied with an eight-digit code by the company. He, or she, is advised to divulge this only to next of kin or a trusted legal representative. In case of the person's disappearance, those in possession of the code are supposed to contact the company's control centre, so that the kidnapped victim's whereabouts may be pinpointed, and the police informed. The Sky-Eye is said to have a margin of error of just 150 yards. Kidnapping is still common in Italy. One recent victim, Giuseppe Soffiantini, an elderly northern industrialist, was wary when asked if he would buy one. At the weekend he said: "As they also know about the discovery, the kidnappers will find a counter system to use against it. They are treacherous." During his long captivity, his kidnappers cut off pieces of his ears and sent them to his family. Mr Soffiantini, was released earlier this year after a £2 million ransom was paid. He said: "But if the microchip worked, then of course I'd get one. © Copyright of Telegraph Group Limited 1998. ********************************************** To subscribe or unsubscribe, email: majordomo(a)majordomo.pobox.com with the message: (un)subscribe ignition-point email@address ********************************************** www.telepath.com/believer ********************************************** --- end forwarded text ----------------- Robert A. Hettinga <mailto: rah(a)philodox.com> Philodox Financial Technology Evangelism <http://www.philodox.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'

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Re: Another potential flaw in current economic theory... (fwd)
by Jim Choate 17 Dec '03

17 Dec '03

Forwarded message: > Date: Tue, 6 Oct 1998 08:51:21 -0600 (MDT) > From: Jim Burnes <jvb(a)ssds.com> > Subject: Re: Another potential flaw in current economic theory... > > It occurs to me that there is another potential flaw in current economic > > theory and business practice. > > > > Currently (ala Friedmann) the parties that reap the benefit of a succesful > > business are the shareholders, this is currently seen to exclude the > > employees in many cases/companies. > > > > Actually not. There are quite a few business that have employees as > shareholders. Most shares of companies are reasonably priced and > easy enough to get a hold of. Selling them on the other hand is > not so straightforward. This doesn't effect the premise under standard economics that the responsibility of managers is to the shareholders *exclusively* in regards profits and business operations. What I am positing is the potential effects of including employees as part of that sphere of responsibility *without* explicit stock holding by the emplyees. You're trying to turn apples into oranges. [other stuff deleted] ____________________________________________________________________ The seeker is a finder. Ancient Persian Proverb The Armadillo Group ,::////;::-. James Choate Austin, Tx /:'///// ``::>/|/ ravage(a)ssz.com www.ssz.com .', |||| `/( e\ 512-451-7087 -====~~mm-'`-```-mm --'- --------------------------------------------------------------------

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Lycos Acquires Wired Digital
by James Glave 17 Dec '03

17 Dec '03

http://www.wired.com/news/news/business/story/15437.html Lycos Acquires Wired Digital 6:00 a.m. 6.Oct.98.PDT In a move that continues the trend of consolidation in the Internet industry, Web search and community firm Lycos has acquired Wired Digital, the parent company of Wired News, for approximately US$83 million in Lycos stock. Lycos said in a statement that the combined traffic of both companies will allow Lycos, already the second most visited Web index service, to reach more than 40 percent of Web users. Tuesday's acquisition coincides with the introduction of "The Lycos Network," a collection of service, news, and community sites that now includes Wired Digital properties Wired News, the HotBot search engine, and the Webmonkey developer site, in addition to existing Lycos sites Lycos.com, WhoWhere, Tripod, and others. According to Relevant Knowledge, Wired Digital attracts nearly five million unique visitors a month. The acquisition is scheduled to close by the end of the calendar year and is subject to Wired shareholder approval. Lycos (LCOS) will also assume Wired Digital's stock option plan. Under the deal, Wired Digital will continue to operate from its San Francisco, California, office as a business unit of Lycos, and Beth Vanderslice, president of Wired Digital, will report to Lycos CEO Bob Davis. The Wired Digital brands will remain distinct operating units of Lycos, which Lycos said would allow the company to reach multiple Web audience segments. For example, Lycos said in a statement that Wired Digital's HotBot search engine attracts a "tech-savvy Web veteran," while Lycos.com serves a broader audience. According to Media Metrix, the two search engines attract distinct audiences, with only 20 percent overlap between the two. The Lycos Network and Wired Digital have already taken steps to share each other's content and services. Wired News is available on the headline page of Lycos.com, while Lycos' Angelfire home pages and MailCity e-mail applications are now being offered to HotBot users. Lycos search offers links to HotBot and other Wired Digital properties through top keyword searches. Further, Webmonkey's Web developer tutorials and resources will be available to Tripod and Lycos.com homepage communities. In May of this year, Wired Ventures, the former parent company of Wired Digital, sold Wired magazine to Advance Magazine Publishers. Copyright © 1994-98 Wired Digital Inc. All rights reserved. James Glave, News Editor, Wired News, http://www.wired.com (415) 276-8430

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RE: I thought of an initialy regulated industry!... (fwd)
by Jim Choate 17 Dec '03

17 Dec '03

Forwarded message: > Date: Tue, 6 Oct 1998 19:22:31 -0500 (CDT) > From: Mac Norton <mnorton(a)cavern.uark.edu> > Subject: RE: I thought of an initialy regulated industry!... (fwd) > that both sides of this thread are deep into it. I stay on this > list because, just maybe, one of these days, one of you guys > is gonna crack the code of anarchy v. contract enforcement. Until > then, it's cogdis. What makes you thing anarchy eliminates contracts and the concomitent need for enforcement? The question is: "Who does the contract enforcement and arbitrage?" ____________________________________________________________________ The seeker is a finder. Ancient Persian Proverb The Armadillo Group ,::////;::-. James Choate Austin, Tx /:'///// ``::>/|/ ravage(a)ssz.com www.ssz.com .', |||| `/( e\ 512-451-7087 -====~~mm-'`-```-mm --'- --------------------------------------------------------------------

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Re: Web TV with 128b exported
by Information Security 17 Dec '03

17 Dec '03

> From: SDN <sdn(a)divcom.slimy.com> > William H. Geiger III wrote: > > David Honig said: > > >http://biz.yahoo.com/prnews/981005/ca_microso_1.html > > > > >MOUNTAIN VIEW, Calif., Oct. 5 /PRNewswire/ -- Microsoft Corp.'s (Nasdaq: > > >MSFT - news) WebTV Networks today announced it is the first U.S. company > > >to obtain government approval to export nonkey recovery-based > > >128-bit-strength encryption for general commercial use. WebTV Networks > > >pioneered low-cost access to the Internet, e-mail, financial services and > > >electronic shopping through a television set and a standard phone line. > > > > I have my doubts on this. I find it highly unlikely that the FEDs would > > approve this without some form of GAK built in even if it is not in the > > form of "key recovery". > > It's probably a lot closer to the "private doorbell" scenario. The only > thing that a WebTV unit will communicate with is the WebTV service (or > the Japanese variant thereof). > > Since all traffic goes through a point that will likely cooperate with > law enforcement (and has remote control of the boxes, too.), this doesn't > represent much of a loosening in the export controls. Hmmm... # http://biz.yahoo.com/prnews/981005/ca_microso_1.html # # ...without fear of interception by unauthorized parties. Said with a lawyer's precision. # http://biz.yahoo.com/prnews/981005/ca_microso_1.html # # William Reinsch, U.S. undersecretary for export administration: # ``The WebTV Network provides secure communications for its # customers and partners without posing undue risks to # national security and law enforcement.'' Either it is interceptable and decodable or it isn't. If it isn't, then software browsers (Netscape/IE) should be allowed to do it too. Perhaps Declan could investigate and get a story out of it. ---- Can someone with control of a 128-bit HTTP server see if it can identify 128-bit keys from WebTV terminals? ---guy

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Re: Another potential flaw in current economic theory... (fwd)
by Jim Choate 17 Dec '03

17 Dec '03

Forwarded message: > Date: Tue, 6 Oct 1998 11:19:54 -0600 (MDT) > From: Jim Burnes <jvb(a)ssds.com> > Subject: Re: Another potential flaw in current economic theory... (fwd) > Hmmm. You imply that the employees and employers interests are not > the same. Obviously this so. > The whole idea is to make a profit. There is MUCH more involved than simply making a profit. [irrelevant material deleted] > Any other sort of interest would simply induce a market distortion > in the cost of investment capital. Demonstrate please. > The market detects socialism as damage and routes around it. Whoa horsey. I didn't say a damn thing about any third party regulatory agency getting invovled here. Don't start trying to change the rules in the middle of the game. > The entire market would never do this voluntarily, so by definition any > distortion would have to be induced in a centrally managed economy. Demonstrate. > By definition socialism. Wrong. Socialism is the belief that property is best managed and owned by the government. This is within the context of a free market. This means that the *ONLY* two parties involved are the producers and consumers. I am discussing an alternative approach to business management. Fascism is the belief that property should be owned by private individuals but managed by governments. Capitalism is the belief that property should be owned and managed by the individual. Note that this definition doesn't prevent 3rd party regulatory bodies, but they neither own or manage the activity, only limit its' scope. ____________________________________________________________________ The seeker is a finder. Ancient Persian Proverb The Armadillo Group ,::////;::-. James Choate Austin, Tx /:'///// ``::>/|/ ravage(a)ssz.com www.ssz.com .', |||| `/( e\ 512-451-7087 -====~~mm-'`-```-mm --'- --------------------------------------------------------------------

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Netscape e-mail 128 bit Encryption
by Rod Munch 17 Dec '03

17 Dec '03

I just wantid to know if there is any to Crack The Encryption in Netscapes e-mail program for sending messages cause my computer teacher thinks hes all big and bad cause no one can read his shit so i want to show him up.

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