“China Should Cap Foreign Exchange Reserves”

Uh-oh. From Xinhua news we get this:

BEIJING, April 23 (Xinhua) — China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.

The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.

China’s foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.

Tang’s remarks echoed the stance of Zhou Xiaochuan, governor of China’s central bank, who said on Monday that China’s foreign exchange reserves “exceed our reasonable requirement” and that the government should upgrade and diversify its foreign exchange management using the excessive reserves.

Meanwhile, Xia Bin, a member of the monetary policy committee of the central bank, said on Tuesday that 1 trillion U.S. dollars would be sufficient. He added that China should invest its foreign exchange reserves more strategically, using them to acquire resources and technology needed for the real economy.

Tang also said that China should further diversify its foreign exchange holdings. He suggested five channels for using the reserves, including replenishing state-owned capital in key sectors and enterprises, purchasing strategic resources, expanding overseas investment, issuing foreign bonds and improving national welfare in areas like education and health.

The Chinese have good reason to be worried about their foreign exchange holdings, especially the dollar. They may be in a lot of trouble of the dollar collapses because we can’t get serious about spending.

Glen or Glenda

We watched Ed Wood’s movie “Glen or Glenda” last week. The consensus is that it was even worse than “Plan 9 from Outer Space”, simply because there were parts of “Glen or Glenda” that simple didn’t make sense. “Plan 9” at least had something like a coherent plot. “Glen or Glenda” was just confusing.

I think I know what Ed Wood was attempting. He wanted to make a plea for tolerance for transvestites or cross dressers, who practice a harmless perversion. He used his own experiences to make a semi-autobiographical picture. Unfortunately this was not the movie he was commissioned to make. He was supposed to be making a fictionalized movie about Christine Jorgensen, the first person widely known to have had a “sex  change” operation. To satisfy his producer, Wood tacked on a second story about a man who changed his sex. He also included a confusing semi-pornographic dream sequence. Bela Lugosi played a narrator of sorts, although his narrations had little to do with the film. The result of all of this was simply a mess.

Scientists Abuzz Over Controversial Rumor that God Particle Has Been Detected

Here’s something incredible from the world of science.

A rumor is floating around the physics community that the world’s largest atom smasher may have detected a long-sought subatomic particle called the Higgs boson, also known as the “God particle.”

The controversial rumor is based on what appears to be a leaked internal note from physicists at the Large Hadron Collider (LHC), a 17-mile-long particle accelerator near Geneva, Switzerland. It’s not entirely clear at this point if the memo is authentic, or what the data it refers to might mean — but the note already has researchers talking.

The Higgs boson is believed to be what gives matter its mass. It is the only elementary particle of the Standard Model which has not been detected yet, because it is so massive. Physicists are hoping that the Large Hadron Collider will be able to detect it. If this rumor is true than they have succeeded.

One thing though, I don’t much care for the habit of referring to the Higgs Boson as the “God Particle”. It seems somehow disrespectful.

Passenger Screener Charged in Distributing Child Pornography

This is disturbing for so many reasons.

A passenger screener at Philadelphia International Airport is facing charges that he distributed more than 100 images of child pornography via Facebook, records show.

Federal agents also allege that Transportation Safety Administration Officer Thomas Gordon Jr. of Philadelphia, who routinely searched airline passengers, uploaded explicit pictures of young girls to an Internet site on which he also posted a photograph of himself in his TSA uniform.

Homeland Security agents arrested the TSA officer March 24, and he is being held without bail.

First of all, how would you like this creep patting your kids down? I’m sure he’s not the only pedophile who has seen an opportunity.  Second they didn’t appear to be in any hurry to tell people about him;

Although the case was unsealed Thursday, neither the indictment nor the news release mentioned Gordon’s job searching airline passengers for TSA.

Citing privacy rules, TSA spokeswoman Ann Davis would not say if Gordon has been suspended from his job, but noted that he had been in federal custody since his arrest.

“We can assure the public that he is no longer working at the airport,” Davis said.

I’m glad that he is in federal custody, but I wonder if he is still getting paid, if he hasn’t been suspended yet. At any rate he was certainly busy at his hobby;

The tip allegedly included evidence that Gordon had uploaded five explicit photographs of young girls onto the web site Photobucket.

The federal agent alleged that Gordon’s Photobucket account also included a picture of him wearing his blue TSA uniform.

The indictment alleges that Gordon used at least six Facebook accounts and employed multiple names “to upload and store images of sexual exploitation of minor children.”

The charges detail 104 illicit photographs allegedly uploaded over four weeks in February.

Authorities also seized from Gordon an HP laptop and a four-gigabyte flash drive that they say contained more than 600 images or movies containing child pornography, according to court filings.

Aside from the disgust at his actions, I have to wonder about a man who posts child pornography and a picture of himself wearing his uniform. If only every pedophile were that dumb.

A Man’s Home is His Castle, Not!

William Pitt was a great British statesman who lived over two hundred years ago. He had this to say about the sanctity of private property:

The poorest man may in his cottage bid defiance to all the force of the Crown. It may be frail; its roof may shake; the wind may blow through it; the storms may enter, the rain may enter,—but the King of England cannot enter; all his forces dare not cross the threshold of the ruined tenement!

That was then. Nowadays our leaders and would-be leaders have a quite different attitude. Take this statement by semi-serious presidential candidate Donald Trump regarding the Supreme Court’s Kelo decision:

Well, it’s sort of not a good one for me to say, because I noticed every article written about it said, “Will Donald Trump take over your home?” sort of using me as the example, Neil. And it’s sort of — it’s an interesting situation to be in. But I happen to agree with it 100 percent, not that I would want to use it. But the fact is, if you have a person living in an area that’s not even necessarily a good area, and government, whether it’s local or whatever, government wants to build a tremendous economic development, where a lot of people are going to be put to work and make area that’s not good into a good area, and move the person that’s living there into a better place — now, I know it might not be their choice — but move the person to a better place and yet create thousands upon thousands of jobs and beautification and lots of other things, I think it happens to be good. (Club for Growth)

The king can enter your house now and give it to someone who thinks he can use it better. Progress