Anti Wage-Slavery Pro-Freedom Quotations Of The Week 1106-1108

last August, the finance chief at Zurich Insurance Group AG committed suicide and left a note blaming the company’s chairman for creating an unbearable work environment.

In August, a 21-year-old Bank of America intern died after reportedly working consecutive all-nighters at the bank’s London office.

37-year-old JP Morgan executive may be the latest in a series of bizarre deaths in the financial world in less than a month.
National Post Wire Services | February 14, 2014
Financial Post
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A widening probe of the foreign-exchange market is roiling an industry already under pressure to reduce costs as computer platforms displace human traders.

Electronic dealing, which accounted for 66 percent of all currency transactions in 2013 and 20 percent in 2001, will increase to 76 percent within five years, according to Aite Group LLC, a Boston-based consulting firm that reviewed Bank for International Settlements data. About 81 percent of spot trading -- the buying and selling of currency for immediate delivery -- will be electronic by 2018, Aite said.

“Foreign-exchange traders are much like stock floor traders: a rapidly dying breed,” said Charles Geisst, author of “Wall Street: A History” and a finance professor at Manhattan College in Riverdale, New York. “Once the banks realize they are costing them money, the positions will dwindle quickly.”
FX Traders Facing Extinction as Computers Replace Humans
By Ambereen Choudhury and Julia Verlaine
Bloomberg Personal Finance

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The digitization of our economy will bring with it a new generation of radical economic ideologies, of which Bitcoin is arguably the first.  For those with assets, technological savvy, and a sense of adventure, the state is the enemy and a cryptographic currency is the solution.  But for those more focused on the decline of the middle classes, the collapse of the entry-level jobs market, and the rise of free culture, the state is an ally, and the solution might look something like an unconditional basic income.

THREE TRENDS THAT WILL CREATE DEMAND FOR AN UNCONDITIONAL BASIC INCOME

2013-07-10  

by Lui in Blog

SIMULACRUM

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