Category Archives : Integrity

Risks, Rewards and Responsibilities (Part Two)

Tweet In the previous post we examined risk as a function of probability and explored the concept of expected value to be received if it goes our way. This is a great way to determine if a risk is worthwhile and promises a positive return for your investment. Return on investment implies that the decision is […]

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Risks, Rewards and Responsibilities (Part One)

Tweet Every day we take risks to get rewards but usually ignore our responsibilities, taking them as a given. For example, in the morning we make (or don’t make) decisions about what we are going to do. “Or don’t make” because there are things we must do such as go to work. At some point […]

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Lying, Cheating and Stealing (Part Five)

Tweet In Part One of this series I referenced the Cadet Honor Code of the United States Military Academy.  While I graduated in 1964, I returned 12 years later (1976) to become a member of the faculty.  Shortly before I arrived, a major cheating scandal occurred in the spring of 1976 resulting in 151 cadets […]

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Lying, Cheating and Stealing (Part Four – Stealing)

Tweet Stealing is a word with many meanings yet we will all attest that we know what it means. Or do we?  In the opening article of this series I made reference to receiving a dozen ball point pens from the bank and asked if taking one from the bank’s customer work station was stealing.  […]

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Lying, Cheating and Stealing (Part Three – Cheating)

Tweet Cheating refers to gaining an unfair advantage in a competitive situation.  Generally it refers to an individual, keeping in mind that a company is usually viewed as an individual entity.  Cheating is an act consciously taken to gain the unfair advantage.  Wikipedia, defines three classes of cheating: (1) academic; (2) sports, video, and gambling; […]

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Lying, Cheating and Stealing (Part Two – Lying)

Tweet Quoting from Wikipedia, “a lie is a statement used intentionally for the purpose of deception.”  This definition is based on definitions from the Oxford Dictionaries and the Merriam-Webster Dictionary.   The key words are intent and deception.  Further, in Wikipedia, 36 types of lies are described, some acceptable and some not.  Or is lying never […]

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Money, Trade, Value and Time (Part Eight)

Tweet In part seven of this series we ended with three types of money on the table: gold (and other precious metals), fiat money (paper notes or data entries on a cyber ledger) backed by a government entity, and bitcoins backed by trust in no one other than the users.  In all cases, value is […]

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Money, Trade, Value and Time (Part Seven)

Tweet Last time we explored the Federal Reserve System and how money is added to a country’s financial system through the granting of loans for doing or making something of value. The money growth occurs because value is produced, or should be. As a result of effort expended, paid for with money, a product of value […]

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Money, Trade, Value and Time (Part Six)

Tweet Last time we looked at the banking system in the United States and the emergence of the Federal Reserve System (The Fed) and its 12 Federal Reserve Banks.  At the end of the article, we examined a current dollar bill (paper), noting that it says “Federal Reserve Note.” In the United States, this is legal […]

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Money, Trade, Value and Time (Part Five)

Tweet We finished the last post by observing the creation of the Bank of England in 1694 to raise money for its war against France. Note that war does not produce tradable things of value but does consume things of value. This is not intended to debate warfare because it may be essential for a country […]

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