Friday, July 31, 2015
Pooched — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate
Pooched — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate: "And who can forget the last holy-shit moment from the Canadian Payroll Association?
These guys have polled people for six years, and things are nasty. A hefty 51% of all working stiffs said in the last survey “I would find it difficult to meet my financial obligations if my paycheque was delayed by a single week.” Half of everybody. Only one week. Ouch. What does this tell us when 70% have houses and epic mortgages?
Of course. They own stuff. But no money.
This is borne out by the fact the payrollers also discovered 26% of people could not come up with just $2,000 over the course of an entire month if an emergency cropped up. And everybody seems equally hooped. Almost 80% of mature people say they’ll probably have to delay retirement while 63% of Millennials say they’re living paycheque-to-paycheque."
'via Blog this'
These guys have polled people for six years, and things are nasty. A hefty 51% of all working stiffs said in the last survey “I would find it difficult to meet my financial obligations if my paycheque was delayed by a single week.” Half of everybody. Only one week. Ouch. What does this tell us when 70% have houses and epic mortgages?
Of course. They own stuff. But no money.
This is borne out by the fact the payrollers also discovered 26% of people could not come up with just $2,000 over the course of an entire month if an emergency cropped up. And everybody seems equally hooped. Almost 80% of mature people say they’ll probably have to delay retirement while 63% of Millennials say they’re living paycheque-to-paycheque."
'via Blog this'
Meditation is rest for the brain
In much the same way
that our muscles need rest after physical activity, our brains need down time
too. However, 24/7 technology makes it more and more difficult for our brains
to go into the much needed rest zone that leads to recovery and growth. Try setting
aside a portion of your Saturday or Sunday to completely unplug. Spend time
noticing your surroundings as well as the feelings that result from being away
from technology. You’re likely to come back to your work on Monday more
refreshed and focused as a result. Try making it a regular habit to unplug as
well.
Sunday, July 12, 2015
China's rich seek shelter from stock market storm in foreign property - Yahoo Finance
China's rich seek shelter from stock market storm in foreign property - Yahoo Finance: "Australia, Britain and Canada are bracing for a surge of new interest in their already hot property markets, with early signs that wealthy Chinese investors are seeking a safe haven from the turmoil in Shanghai's equity markets.
Sydney realtor Michael Pallier said in the past week alone he has sold two new apartments and shown a A$13.8 million ($10.3 million) house in the harbourside city to Chinese buyers looking for an alternative to stocks.
"A lot of high net worth individuals had already taken money out of the stock market because it was getting just too hot," Pallier, the principal of Sydney Sotheby's International Realty, said. "There's a huge amount of cash sitting in China and I think you'll find a lot of that comes to the Australian property market."
Around 20 percent has been knocked off the value of Chinese shares since mid-June, although attempts by authorities to stem the bleeding are having some effect.
Many wealthy Chinese investors had already cashed out. Major shareholders sold 360 billion yuan ($58 billion) in the first five months of 2015 alone, compared to 190 billion yuan in all of 2014 and an average of 100 billion yuan in prior years, according to Bank of America Merrill Lynch.
While much of that money may initially be parked in more liquid assets like U.S. Treasury bonds and safe-haven currencies such as the Swiss franc, there is growing evidence that foreign property sales may receive a boost.
"There is anecdotal evidence that Chinese buyers have intensified their interest in 'safe haven' global property markets, including London, as a result of the recent stock market volatility," said Tom Bill, head of London residential research at Knight Frank.
Ed Mead, executive director of realtor Douglas & Gordon in London, said his firm had seen two buyers from China looking to buy whole blocks of flats.
"It is unusual to see the Chinese block buying, it implies that this is a capital movement rather than just individuals looking to park money."
RICH EXODUS
Since 2000, China has had the world's largest outflow of high net worth individuals. Around 91,000 wealthy Chinese sought second citizenship between 2000 and 2014, according to a report by residence investment broker Lio Global, a factor that is fuelling demand to buy foreign property.
Most of these individuals, defined as those with net assets of $1 million or more excluding their primary residences, are moving to the U.S., Hong Kong, Singapore and Britain.
Brian Ward, president of capital markets and investment services for the Americas at commercial property company Colliers International, said Chinese investors had already sunk around $5 billion into U.S. real estate in the first six months of 2015, more than the $4 billion they invested in the whole of 2014.
In London, Alex Newall, managing director of super prime residential realtor Hanover Private Office estate agents said he had seen an increase in interest from Chinese investors at the top of the market, although no transactions yet.
"They're wanting to try and park large sums of money - I'm talking from 25 million pounds ($38.5 million) to 150 million pounds," Newell said.
"They're looking to park that capital into London homes."
Australia and Canada are also increasing in popularity, gaining an edge from their weakening currencies.
"Property prices are still cheap in RMB (yuan) terms," said Timothy Cheung, a principal of Morphic Asset Management in Sydney.
BACKING OUT
The rush by Chinese investors into foreign property has not been without criticism, with some in London, Sydney and Vancouver blaming them for pushing up already spiraling prices.
The Australian government has moved to look tough on the issue, introducing new fees and jail terms for those found flouting foreign investment rules. The Chinese owner of a A$39 million Sydney mansion was forced to sell up earlier this year after it was revealed the property had been bought illegally through a string of shell companies.
Others are concerned that Chinese investors who didn't bail out of stocks quickly enough will be a drag on international property markets, particularly after Beijing on Thursday banned shareholders with large stakes in listed firms from selling for six months.
In London, Naomi Heaton, the chief executive of London Central Portfolio, said she had heard of investors pulling out of new-build purchases because they no longer had the capital.
It was a similar story for Vancouver real estate agent Andrew Hasman, who focuses on the city's affluent westside area.
"I had a call last week from another agent wanting to know if a seller of a transaction we just did would allow the buyer to back out, because they had just recently lost a huge amount of money in the Chinese stock market correction," Hasman said."
'via Blog this'
Sydney realtor Michael Pallier said in the past week alone he has sold two new apartments and shown a A$13.8 million ($10.3 million) house in the harbourside city to Chinese buyers looking for an alternative to stocks.
"A lot of high net worth individuals had already taken money out of the stock market because it was getting just too hot," Pallier, the principal of Sydney Sotheby's International Realty, said. "There's a huge amount of cash sitting in China and I think you'll find a lot of that comes to the Australian property market."
Around 20 percent has been knocked off the value of Chinese shares since mid-June, although attempts by authorities to stem the bleeding are having some effect.
Many wealthy Chinese investors had already cashed out. Major shareholders sold 360 billion yuan ($58 billion) in the first five months of 2015 alone, compared to 190 billion yuan in all of 2014 and an average of 100 billion yuan in prior years, according to Bank of America Merrill Lynch.
While much of that money may initially be parked in more liquid assets like U.S. Treasury bonds and safe-haven currencies such as the Swiss franc, there is growing evidence that foreign property sales may receive a boost.
"There is anecdotal evidence that Chinese buyers have intensified their interest in 'safe haven' global property markets, including London, as a result of the recent stock market volatility," said Tom Bill, head of London residential research at Knight Frank.
Ed Mead, executive director of realtor Douglas & Gordon in London, said his firm had seen two buyers from China looking to buy whole blocks of flats.
"It is unusual to see the Chinese block buying, it implies that this is a capital movement rather than just individuals looking to park money."
RICH EXODUS
Since 2000, China has had the world's largest outflow of high net worth individuals. Around 91,000 wealthy Chinese sought second citizenship between 2000 and 2014, according to a report by residence investment broker Lio Global, a factor that is fuelling demand to buy foreign property.
Most of these individuals, defined as those with net assets of $1 million or more excluding their primary residences, are moving to the U.S., Hong Kong, Singapore and Britain.
Brian Ward, president of capital markets and investment services for the Americas at commercial property company Colliers International, said Chinese investors had already sunk around $5 billion into U.S. real estate in the first six months of 2015, more than the $4 billion they invested in the whole of 2014.
In London, Alex Newall, managing director of super prime residential realtor Hanover Private Office estate agents said he had seen an increase in interest from Chinese investors at the top of the market, although no transactions yet.
"They're wanting to try and park large sums of money - I'm talking from 25 million pounds ($38.5 million) to 150 million pounds," Newell said.
"They're looking to park that capital into London homes."
Australia and Canada are also increasing in popularity, gaining an edge from their weakening currencies.
"Property prices are still cheap in RMB (yuan) terms," said Timothy Cheung, a principal of Morphic Asset Management in Sydney.
BACKING OUT
The rush by Chinese investors into foreign property has not been without criticism, with some in London, Sydney and Vancouver blaming them for pushing up already spiraling prices.
The Australian government has moved to look tough on the issue, introducing new fees and jail terms for those found flouting foreign investment rules. The Chinese owner of a A$39 million Sydney mansion was forced to sell up earlier this year after it was revealed the property had been bought illegally through a string of shell companies.
Others are concerned that Chinese investors who didn't bail out of stocks quickly enough will be a drag on international property markets, particularly after Beijing on Thursday banned shareholders with large stakes in listed firms from selling for six months.
In London, Naomi Heaton, the chief executive of London Central Portfolio, said she had heard of investors pulling out of new-build purchases because they no longer had the capital.
It was a similar story for Vancouver real estate agent Andrew Hasman, who focuses on the city's affluent westside area.
"I had a call last week from another agent wanting to know if a seller of a transaction we just did would allow the buyer to back out, because they had just recently lost a huge amount of money in the Chinese stock market correction," Hasman said."
'via Blog this'
These countries work harder than the U.S. - Yahoo Finance
These countries work harder than the U.S. - Yahoo Finance: "Workers in Mexico work the longest hours. An average Mexican worker puts in 2,228 hours a year on the job or about 43 hours per week. Mexico is the second largest Latin American economy according to the World Bank.
South Korea has not submitted its data to the OECD for 2014 but in 2013 the nation was firmly the second-hardest working, behind Mexico. In 2013, South Korean workers put 2,163 hours in a year or roughly 42 hours per week.
The current debt crisis in Greece didn’t help the perception of the work ethic there, of Greeks being over-paid, underworked and retiring early. But in reality, Greeks work the longest hours in Europe, clocking in 2,042 hours a year in 2014, which works out to about 39 hours per week.
Chile and Russia round out the top five nations with workers putting in an average of 1,990 and 1,985 hours a year per worker respectively, or about 38 hours per week.
Americans are ranked #16 by OECD in terms of longest hours worked, putting in 1,788 in 2013 and 1,789 in 2014, or about 34.4 hours per week. That works out to more hours than in most countries. Keep in mind, the average of OECD countries is about 1,770 hours or 34 hours per week.
Germany, by the way, works the shortest hours of all OECD countries. The average worker there puts in just 1,371 hours a year or 26 hours per week. Norway had the second shortest hours."
'via Blog this'
South Korea has not submitted its data to the OECD for 2014 but in 2013 the nation was firmly the second-hardest working, behind Mexico. In 2013, South Korean workers put 2,163 hours in a year or roughly 42 hours per week.
The current debt crisis in Greece didn’t help the perception of the work ethic there, of Greeks being over-paid, underworked and retiring early. But in reality, Greeks work the longest hours in Europe, clocking in 2,042 hours a year in 2014, which works out to about 39 hours per week.
Chile and Russia round out the top five nations with workers putting in an average of 1,990 and 1,985 hours a year per worker respectively, or about 38 hours per week.
Americans are ranked #16 by OECD in terms of longest hours worked, putting in 1,788 in 2013 and 1,789 in 2014, or about 34.4 hours per week. That works out to more hours than in most countries. Keep in mind, the average of OECD countries is about 1,770 hours or 34 hours per week.
Germany, by the way, works the shortest hours of all OECD countries. The average worker there puts in just 1,371 hours a year or 26 hours per week. Norway had the second shortest hours."
'via Blog this'
Friday, July 10, 2015
China wants to steal gold-market ‘reins’ from New York, London - MarketWatch
China wants to steal gold-market ‘reins’ from New York, London - MarketWatch: "China has been making it very clear that it wants more control over the global gold market, but it’ll have to go through New York and London first.
“Given that China is the epicenter of the physical gold market, it does make sense that the Chinese government would want its physical Shanghai gold market to supplant the Comex derivative market (and others) as the primary global price-setting mechanism,” said Anthem Blanchard, chief executive officer of online precious-metal retailer Anthem Vault.
China is, after all, the world’s largest producer and one of the biggest buyers of the metal, often running neck and neck with India as the globe’s top consumer.
Last month, the Bank of China became the first Chinese bank to join the group of lenders that set the London Bullion Market Association’s gold price benchmark, and two more Chinese banks are reportedly working to become members.
“This will allow Chinese banks to participate in the gold market on a global basis,” said Julian Phillips, founder of and contributor to GoldForecaster.com."
'via Blog this'
“Given that China is the epicenter of the physical gold market, it does make sense that the Chinese government would want its physical Shanghai gold market to supplant the Comex derivative market (and others) as the primary global price-setting mechanism,” said Anthem Blanchard, chief executive officer of online precious-metal retailer Anthem Vault.
China is, after all, the world’s largest producer and one of the biggest buyers of the metal, often running neck and neck with India as the globe’s top consumer.
Last month, the Bank of China became the first Chinese bank to join the group of lenders that set the London Bullion Market Association’s gold price benchmark, and two more Chinese banks are reportedly working to become members.
“This will allow Chinese banks to participate in the gold market on a global basis,” said Julian Phillips, founder of and contributor to GoldForecaster.com."
'via Blog this'
Thursday, July 9, 2015
Chinese buying up California housing
Chinese buying up California housing: ""We are seeing a lot of Asians who are buying as an investment, but their kids are going to school here, so kids live in the home. They are looking at it more as an investment in education," said Emile Haddad, CEO of Fivepoint Communities, developer of the Great Park Neighborhood.
That is Brian Yang's plan. Speaking from his home in China, Yang said he purchased a home in Irvine this year, but he will wait five years, until his daughter turns 10, before moving his family to the U.S. He has several reasons for taking the leap.
"Education in America is very good and world class, so the first one is for education, and I think the second one is for the property appreciation," explained Yang."
'via Blog this'
That is Brian Yang's plan. Speaking from his home in China, Yang said he purchased a home in Irvine this year, but he will wait five years, until his daughter turns 10, before moving his family to the U.S. He has several reasons for taking the leap.
"Education in America is very good and world class, so the first one is for education, and I think the second one is for the property appreciation," explained Yang."
'via Blog this'
Will Chinese buyers flee or flood US housing? - Yahoo Finance
Will Chinese buyers flee or flood US housing? - Yahoo Finance: "those who are buying U.S. real estate are doing it with a very long-term view-to diversify their assets, provide a safe haven in case something happens at home," said John Burns of California-based John Burns Real Estate Consulting. "I don't think a 30 percent stock correction after a relatively recent 150 percent boom changes much of that. If you told me the economy was going negative, their shadow banking system was exploding, or the government clamped down on foreign investment, then I would be concerned."
Chinese are now the biggest foreign buyers of U.S. housing. They poured $28.6 billion into properties in the past year, more than double the investment of number two, the Canadians, according to the National Association of Realtors. They are seeking top schools for their children, better health care, fresh air and a safe haven for their cash amid economic uncertainty at home."
'via Blog this'
Chinese are now the biggest foreign buyers of U.S. housing. They poured $28.6 billion into properties in the past year, more than double the investment of number two, the Canadians, according to the National Association of Realtors. They are seeking top schools for their children, better health care, fresh air and a safe haven for their cash amid economic uncertainty at home."
'via Blog this'
3 reasons the average American may be worse off than Greece - Fortune
3 reasons the average American may be worse off than Greece - Fortune: "Between its government and its banks, Greece owes 323 billion euros to creditors and its debt-to-income (GDP) ratio is 177%, according to Trading Economics. In other words, Greece owes 1.77 euros for every euro it earns. The average U.S. household, by comparison, owed $204,992 in mortgages, credit cards, and student loans in mid-2015 on a median household income of $55,192, according to data compiled by Sentier Research. This translates to a debt-to-income ratio of 370%, which is much worse than Greece!
In addition, indebted U.S. households carry an average credit card balance of $15,706, according to NerdWallet. Now consider that on average Greece pays only 2.6% of GDP in interest on its debt, according to estimates by think-tank Bruegel cited by The Telegraph. By contrast, the national average interest rate on a U.S. credit card is 15%, according to a report by CreditCards.com, which means $2,355 of annual interest on a balance of $15,706 and 4.2% of median income. This spikes even more sharply on higher interest credit cards, or in the case of a missed payment, which can lead to nearly 30% in interest and therefore 8.5% of median income.
Combine this with stagnant wages for most Americans and the point is that while Greece may have a serious problem, average Americans are living pretty close to the edge themselves, and in the event of a crisis, may face an even more painful reckoning.
Greece’s debt can be wiped out, but not yours
If Greece gets rescued, its debt will likely be restructured or forgiven; and if not (and it exits the eurozone), it will have the option to default on its debts to outside lenders, including the European Central Bank and the International Monetary Fund, since it won’t need them to support its economy anymore. Sure, it will likely be a long time before anyone lends to Greece again, but sovereign debt by its very nature is unsecured. A lender can’t exactly take a lien on the Greek islands, for example. So either way, the nation has some protection.
Individual debt, on the other hand, is governed by a different set of rules. If the average American declares bankruptcy, many big components of his or her debt, like student loans (which account for nearly 10% of total household debt, according to the New York Federal Reserved) aren’t usually forgiven. Barring special circumstances, you owe these debts till you die (and sometimes even after).
Many other forms of debt like credit cards or tax bills are also usually not subject to default, or at least the vagaries of a bankruptcy court judge, and can result in freezing of assets and wage garnishing. All that puts Americans, especially those in the lower-income bracket, in a virtual debt prison compared to the leeway available to a nation like Greece (albeit, not without pain).
Greece can print money, but you can’t
Regardless of the outcome of the Greek financial drama, let’s look at the basics. The primary reason for Greece to exit the euro would be the near insolvency of its banks. In times of crisis, banks need money to be propped up; without outside aid, they can collapse. Greece can’t print euros, since it’s a joint currency controlled by the eurozone, so if it can’t reach a deal with lenders, it would have to adopt a new currency – the drachma. With its own currency, it can print money, which then enables it to sustain its banking system.
Not a great solution since printing money can encourage inflation, but the flip side is it can avert an immediate crisis and allow the nation to survive.
Unfortunately, that luxury is not available to you and I. So any debt we take on will have to be repaid with our hard-earned earnings at some point, and that’s an important reminder to all of us to be prudent in how we conduct our lives. America’s debt-fueled consumer lifestyle may be attractive and heady, but it can lead to terrible consequences if it continues unchecked."
'via Blog this'
In addition, indebted U.S. households carry an average credit card balance of $15,706, according to NerdWallet. Now consider that on average Greece pays only 2.6% of GDP in interest on its debt, according to estimates by think-tank Bruegel cited by The Telegraph. By contrast, the national average interest rate on a U.S. credit card is 15%, according to a report by CreditCards.com, which means $2,355 of annual interest on a balance of $15,706 and 4.2% of median income. This spikes even more sharply on higher interest credit cards, or in the case of a missed payment, which can lead to nearly 30% in interest and therefore 8.5% of median income.
Combine this with stagnant wages for most Americans and the point is that while Greece may have a serious problem, average Americans are living pretty close to the edge themselves, and in the event of a crisis, may face an even more painful reckoning.
Greece’s debt can be wiped out, but not yours
If Greece gets rescued, its debt will likely be restructured or forgiven; and if not (and it exits the eurozone), it will have the option to default on its debts to outside lenders, including the European Central Bank and the International Monetary Fund, since it won’t need them to support its economy anymore. Sure, it will likely be a long time before anyone lends to Greece again, but sovereign debt by its very nature is unsecured. A lender can’t exactly take a lien on the Greek islands, for example. So either way, the nation has some protection.
Individual debt, on the other hand, is governed by a different set of rules. If the average American declares bankruptcy, many big components of his or her debt, like student loans (which account for nearly 10% of total household debt, according to the New York Federal Reserved) aren’t usually forgiven. Barring special circumstances, you owe these debts till you die (and sometimes even after).
Many other forms of debt like credit cards or tax bills are also usually not subject to default, or at least the vagaries of a bankruptcy court judge, and can result in freezing of assets and wage garnishing. All that puts Americans, especially those in the lower-income bracket, in a virtual debt prison compared to the leeway available to a nation like Greece (albeit, not without pain).
Greece can print money, but you can’t
Regardless of the outcome of the Greek financial drama, let’s look at the basics. The primary reason for Greece to exit the euro would be the near insolvency of its banks. In times of crisis, banks need money to be propped up; without outside aid, they can collapse. Greece can’t print euros, since it’s a joint currency controlled by the eurozone, so if it can’t reach a deal with lenders, it would have to adopt a new currency – the drachma. With its own currency, it can print money, which then enables it to sustain its banking system.
Not a great solution since printing money can encourage inflation, but the flip side is it can avert an immediate crisis and allow the nation to survive.
Unfortunately, that luxury is not available to you and I. So any debt we take on will have to be repaid with our hard-earned earnings at some point, and that’s an important reminder to all of us to be prudent in how we conduct our lives. America’s debt-fueled consumer lifestyle may be attractive and heady, but it can lead to terrible consequences if it continues unchecked."
'via Blog this'
Wednesday, July 8, 2015
The Conversion of Iran to Twelver Shi’ism: A Preliminary Historical Overview « Ballandalus
The Conversion of Iran to Twelver Shi’ism: A Preliminary Historical Overview « Ballandalus: "Following his conquests, he established Twelver Shi‘ism as the state religion throughout his domains, and violently imposed this creed upon his (largely Sunni) subjects in Iran, Iraq, and Azerbaijan by introducing the Shi‘i call to prayer and instituting the practice of sabb whereby the first three Caliphs, the Prophet’s wife ‘Ā’isha, and a number of the Prophet’s Companions were ritually cursed and vilified.[xiv] This practice was particularly emphasized in regions where the majority of the population was Sunni, and most of the population was forced to engage in it or face persecution. There are examples of several prominent clerics being executed for their refusal to publicly participate in this practice. Sufis, in particular, were the target of violence as a later Safavid Shi‘i source indicates: “Isma‘il crushed all the silsilahs (Sufi orders); the graves of their ancestors were destroyed, not to mention what befell their successors…he eradicated most of the silsilahs of sayyids and shaykhs.”[xv] Moreover, Ismā‘īl’s conquests were accompanied by mass violence against Sunni communities, the devastation of their property, and the destruction of shrines, including those of the important figures of Abu Ḥanīfa (d. 767) and ‘Abd al-Qādir Gīlānī (d. 1166) in Baghdad.[xvi]
Various massacres also took place: 10,000 were executed near Hamadan in 1503; 4000 members of the Kaziruni Sufi order were murdered in Fars, while all the tombs of rival Sufi orders were desecrated; ten thousand refuges and dissenters who took up refuge in Asta were put to the sword; the entire cities of Yazd, Tabas and Abarquh was slaughtered, tens of thousands of people in these three cities alone according to Safavid chronicles; in Khurasan, the tomb of Abd al-Rahman Jami (d. 1492) was destroyed and the entire population of Qarshi—about 15,000 people—massacred.[xvii] The violent institutionalization of Shi‘ism and the brutal eradication of Sunni Islam in the lands under Safavid rule was meant to announce the arrival of a new dispensation, one which was predicated on the defeat of bāṭil (“falsehood”; identified with Sunni Islam) and the elevation of ḥaqq (“truth”, which could only be Shi’ism). The Sunni community of Iran, which had existed for centuries in the country, was permanently destroyed between the early sixteenth and late seventeenth centuries through a sustained process of mass violence, forced conversion, exile, the destruction of religious institutions (Sufi orders, mosques, and networks of scholars), and a concentrated program of religious propaganda aimed at transforming the country into a bastion of Twelver Shi‘ism. By the late seventeenth century, the only Sunni communities that remained were those residing along Iran’s frontiers and they were treated with varying degrees of toleration."
'via Blog this'
Various massacres also took place: 10,000 were executed near Hamadan in 1503; 4000 members of the Kaziruni Sufi order were murdered in Fars, while all the tombs of rival Sufi orders were desecrated; ten thousand refuges and dissenters who took up refuge in Asta were put to the sword; the entire cities of Yazd, Tabas and Abarquh was slaughtered, tens of thousands of people in these three cities alone according to Safavid chronicles; in Khurasan, the tomb of Abd al-Rahman Jami (d. 1492) was destroyed and the entire population of Qarshi—about 15,000 people—massacred.[xvii] The violent institutionalization of Shi‘ism and the brutal eradication of Sunni Islam in the lands under Safavid rule was meant to announce the arrival of a new dispensation, one which was predicated on the defeat of bāṭil (“falsehood”; identified with Sunni Islam) and the elevation of ḥaqq (“truth”, which could only be Shi’ism). The Sunni community of Iran, which had existed for centuries in the country, was permanently destroyed between the early sixteenth and late seventeenth centuries through a sustained process of mass violence, forced conversion, exile, the destruction of religious institutions (Sufi orders, mosques, and networks of scholars), and a concentrated program of religious propaganda aimed at transforming the country into a bastion of Twelver Shi‘ism. By the late seventeenth century, the only Sunni communities that remained were those residing along Iran’s frontiers and they were treated with varying degrees of toleration."
'via Blog this'
The Conversion of Iran to Twelver Shi’ism: A Preliminary Historical Overview « Ballandalus
The Conversion of Iran to Twelver Shi’ism: A Preliminary Historical Overview « Ballandalus: "The destruction of the Sunni community of Iran bears strong resemblances to the process of the Christianization of conquered regions of al-Andalus. It is also quite an interesting fact in itself that the conversion of the Muslims of Spain and the conversion of Iranian Sunnis were both enacted in the year 1501. "
'via Blog this'
'via Blog this'
Monday, July 6, 2015
CIA-backed Portland startup Tyfone raises $6.6M for decentralized security platform - GeekWire
CIA-backed Portland startup Tyfone raises $6.6M for decentralized security platform - GeekWire: "Tyfone, a Portland-based cybersecurity startup, has raised $6.6 million of a larger $8.6 million round.
The 11-year-old company develops a combination of software and hardware security solutions that help clients in industries like finance, healthcare, and government manage data and digital assets in the cloud more securely.
Tyfone CEO Siva Narendra explained that existing security methods like passwords, encryption keys, and analytics are “centralized right next to the assets it is protecting,” which enables hackers to steal information remotely and anonymously, he said.
Tyfone, meanwhile, offers an extra level of protection by “decentralizing” security."
'via Blog this'
The 11-year-old company develops a combination of software and hardware security solutions that help clients in industries like finance, healthcare, and government manage data and digital assets in the cloud more securely.
Tyfone CEO Siva Narendra explained that existing security methods like passwords, encryption keys, and analytics are “centralized right next to the assets it is protecting,” which enables hackers to steal information remotely and anonymously, he said.
Tyfone, meanwhile, offers an extra level of protection by “decentralizing” security."
'via Blog this'
China's stock market is crashing, and the Chinese are trying to do the exact same thing America did in 1929 - Yahoo Finance
China's stock market is crashing, and the Chinese are trying to do the exact same thing America did in 1929 - Yahoo Finance: "After exploding earlier in the year because of deregulation, China's benchmark Shanghai Composite has collapsed a crazy 29% since the highs of early June. China's other stock markets have had similarly steep falls."
'via Blog this'
'via Blog this'
Sunday, July 5, 2015
Narendra Modi will be first Indian PM to visit Israel and Palestine - The Times of India
Narendra Modi will be first Indian PM to visit Israel and Palestine - The Times of India: "Modi's visit to Israel is almost a foregone conclusion. There aren't many world leaders he refers to as "my friend", which is a regular prefix he uses for Israeli PM Benjamin Netanyahu.
Netanyahu was also the only bilateral meeting he had on the sidelines of the UN General Assembly last year.
India recognized Israel in 1950 but soon after voted against it in the UN. Diplomatic ties were established by Narasimha Rao's government in 1991, though there had been some unofficial contacts earlier, as in the famous visits by Moshe Dayan.
Jyoti Basu, the communist chief minister of West Bengal, broke ground when he visited Israel. During the Vajpayee years, Jaswant Singh and L K Advani had both visited Israel, but Vajpayee couldn't.
Ariel Sharon was the first Israeli PM to visit India in 2003, but there have been no high-level visits from India since. "
'via Blog this'
Netanyahu was also the only bilateral meeting he had on the sidelines of the UN General Assembly last year.
India recognized Israel in 1950 but soon after voted against it in the UN. Diplomatic ties were established by Narasimha Rao's government in 1991, though there had been some unofficial contacts earlier, as in the famous visits by Moshe Dayan.
Jyoti Basu, the communist chief minister of West Bengal, broke ground when he visited Israel. During the Vajpayee years, Jaswant Singh and L K Advani had both visited Israel, but Vajpayee couldn't.
Ariel Sharon was the first Israeli PM to visit India in 2003, but there have been no high-level visits from India since. "
'via Blog this'
In a first, India refuses to vote against Israel at UN - The Times of India
In a first, India refuses to vote against Israel at UN - The Times of India: "NEW DELHI: India on Friday abstained from a UN Human Rights Council (UNHRC) vote for adoption of a UN Inquiry Commission report on Israel's 'Operation Protective Edge' in Gaza last year, which also calls upon both Israel and Palestine to prosecute perpetrators of war crimes.
While 41 countries (including most of the European Union) voted in favour of adopting the report, five, including India, abstained. The US was the only country to vote against it. Four other countries who abstained were Kenya, Ethiopia, Paraguay and Macedonia."
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While 41 countries (including most of the European Union) voted in favour of adopting the report, five, including India, abstained. The US was the only country to vote against it. Four other countries who abstained were Kenya, Ethiopia, Paraguay and Macedonia."
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Woman stripped, filmed in Udhampur; three arrested - The Times of India
Woman stripped, filmed in Udhampur; three arrested - The Times of India: "The accused have been identified namely as Jasvinder, son of Bansi Lal, Amit Singh son of Ajab Singh and Rahul, son of Om Prakash"
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