Connect with us

Bitcoin

Is College Debt Really Necessary? What Parents and Students Should Know

Published

on

“Had the people who started Facebook decided to stay at Harvard, they would not have been able to build the company, and by the time they graduated in 2006, that window probably would have come and gone.” – Peter Thiel, co-founder of PayPal.

Ever since I can remember, I was inculcated with the belief that in order to truly succeed in America, you have to get at least a 4 year degree from a prestigious university; even if it means taking on a ton of debt that you may work your entire adult life to pay off.

I also came to believe that if you really want to stay on the top of the heap, then you need to take on even more debt and get a graduate degree, hence my own post-graduate alphabet soup, including law school.

In high schools across the nation, statistics are still being trotted out by guidance counselors to “prove” that young people have no chance of success without that high-priced sheepskin, or that, if they somehow manage to land a job without one, they will never get promoted and will be stuck in bottom-of-the-ladder limbo land for all eternity.

Twenty years ago, the idea that “you have to go to college to make good money” might have been more truth than myth.

Now, though,, the ever-escalating cost of tuition, fees, and books at America’s universities means that post financial collapse parents might want to take another, perhaps more jaundiced view of the entire higher education system even as the old school narrative continues to be shoved down their throats by university marketing departments.

As a financial educator, I have had numerous concerns about my own clients taking on the costly burdens associated with financing their child’s college education. Truthfully, it makes me more than a bit queasy when I see clients raiding their savings and retirement accounts to send Junior to a fancy private school.

This is especially true in a financial system in flux, where, for the first time ever, over 50% of the unemployed and underemployed have college degrees. To make matters worse, there is a bubble on the horizon; large, paper-thin, and waiting for one tiny pin prick to explode it.

This bubble comes in the form of easy-to-obtain student loans that many are finding are not so easy to pay back. A 2012 article on CNN’s website reported that, at a time of record high unemployment for college grads, student indebtedness had reached an average of nearly $27.000.

“… Two-thirds of the class of 2011 held student loans upon graduation, and the average borrower owed $26,600, according to a report from the Institute for College Access & Success’ Project on Student Debt. That’s up 5% from 2010 and is the highest level of debt in the seven years the report has been published.” (1)

Beyond the expense of college there is also the thornier issue of whether most college kids are learning anything of real value that can be applied to the new economy. The education cartel, always in need of fresh blood and fresh wallets, has systematically smeared those who work in the trades as “blue-collar,” or “uneducated,” and thus somehow inferior to those with Ivy League degrees.

Matthew B. Crawford, a fellow at the Institute for Advanced Studies in Culture at the University of Virginia, and author of the bestseller, Shop Class as Soulcraft: An Inquiry into the Value of Work, has posited that the degradation of manual labor and the rise of so-called knowledge-based jobs was wrongheaded and that the future will belong to those who actually know how to do things such as build custom furniture, repair a car, or install heating and air conditioning units.

Says Crawford:

“While manufacturing jobs have certainly left our shores to a disturbing degree, the manual trades have not. If you need a deck built, or your car fixed, the Chinese are of no help. Because they are in China. And in fact there are reported labor shortages in both construction and auto repair. Yet the trades and manufacturing are lumped together in the mind of the pundit class as “blue collar,” and their requiem is intoned. Even so, the Wall Street Journal recently wondered whether “skilled [manual] labor is becoming one of the few sure paths to a good living.”

Crawford also observes that “If the goal is to earn a living, then, maybe it isn’t really true that 18-year-olds need to be imparted with a sense of panic about getting into college (though they certainly need to learn). Some people are hustled off to college, then to the cubicle, against their own inclinations and natural bents, when they would rather be learning to build things or fix things… ” (2)

The Cartelization of Education

We need only look, says bestselling author and trend forecaster Charles Hugh Smith, to the advent of the higher education cartel to see the reason for our obstinate addiction to the “old school” higher education system and the instance that insistence that everyone needs to go to college. There is a lot of money to be made, says Smith, and an elite cadre of cartel bosses who stand to profit by promoting that myth.

“Why does the old style system still persist even though it is already demonstrably inferior? In addition to the financial disincentives, there is another reason: the current system retains a monopoly on assessing student learning and granting credit for demonstrated accomplishment. The schools are able to do this because they have arranged a monopoly on accreditation. This is ultimately a grant of state power.

As a result, modern colleges and universities have collectively become a rent-seeking cartel, an alliance of nominally competitive institutions that maintains a highly profitable monopoly of accreditation. To grasp the power of the cartel, consider a typical Physics I course even at MIT is almost entirely based on Newtonian mechanics, and the subject matter is entirely in the public domain. Only a cartel could arrange to charge $1,500 and more per student for tuition and texts, in the face of far lower cost and superior quality materials, for subject matter that is no more recent than the 19th Century.” (3)

Jeffrey Tucker, CEO of the startup Linerty.me and publisher at Laissez Faire Books, agrees with Smith and maintains that cartelization has ensured that a return on investment in higher education is far from a sure thing for most students and their parents.

… even if the teen does everything right-every test trained for and taken five times, every activity listed on the portfolio, a high GPA, top of the class, early applications and admissions-you are not home free. You are going to spend six figures, but there is also a high opportunity cost: you remove your child from remunerative work for four years, and this is after four years of no employment in high school. That means both lost income and lost job experience. College is costly in every way. (4)

Citing what economists refer to as “inelastic demand,” Tucker writes that the cartel is exceptionally aware of, and deliberately contributes to, parental unwillingness to forego a four-year college education for their children, even if it means putting themselves in the poor house.

“Parents would gladly step in front of a bus to save their children, so facing debt and financial loss for a few years seems just part of parental obligation. This is why, in economic terms, the demand for college is relatively inelastic: Parents keep paying and paying no matter how bad it gets,” he argues. (4)

I see a lot of angst concerning this issue among my own clients. As the parent of a high school student, I understand it. The idea of college “no mater what” is so ingrained in our thinking that when a child tells us they are considering postponing college or even not going at all, parents tend to panic.

However, the stakes are higher than ever before and the potential for damage to the parents’ own financial well-being is enormous, not to mention the contribution education debt makes to our national economic malaise.

Parents and students need to ask themselves honest questions about the value of a traditional four-year degree, what the potential return on that investment will be, and whether or not there are viable alternatives.

Student Debt and Wall Street

As of this writing, current student debt stands at around $1.2 trillion dollars, more than the entire gross domestic products of some nations, including Canada.

After what we’ve discussed in previous chapters, it should come as no shock to you that many banks have turned these college loan obligations into (surprise, surprise) “investments” and are busy shopping them on Wall Street as subprime debt.

The market for these educational loans is relatively small compared to the market for home loans, so I doubt that it will be as massive a bubble as we had during the housing market.

However, if the Fed continues to hold interest rates down, investors might be desperate enough to snap more of them up. Then we could have another potential economy-damaging event on our hands.

Teresa’s Takeaway: Alternatives to Traditional 4-Year Degrees

Many of my clients are able to fund their kids’ education without incurring any debt due to their diligence in creating and maintaining their own private finance system using specially-designed insurance policies. In fact, I set up many of these policies that have as their express purpose the funding of a university education.

That being said, however, I never think it is a good idea to spend money simply because you have it available.

If you are a young person considering college or graduate school, do your research and question your motivations. Before saddling yourself or your parents or grandparents with a lot of debt- consider alternatives to four-year colleges, such as online degrees, community colleges, and trade schools. Ask yourself if what you really love and want to do

Find out if what you want to do really does require a college degree in the first place. Amazingly there are lots of high-paying jobs that don’t require 4-year degrees.

Look into local and community colleges, where your expenses are often a fraction of what private universities charge.

If you’re a recent high school graduate, take a year to “cool off,” work, save and travel. Gain a better understanding of yourself, your strengths and weaknesses. Learn what you have to offer to the world. Contribute to the global conversation in a meaningful way as a volunteer.

A bright spot in all of this is the fact that there are some great alternatives to the traditional sheepskin; alternatives that might actually broaden a students’ understanding of the world and give them skills that are needed in the new economy without bankrupting mom and dad.

Bestselling author James Altucher, a longtime proponent of re-thinking college, provides a few real alternatives to college.

Altucher suggests that some college prospects might be better off taking their college savings and starting a business.

He also suggests traveling to a country such as India and immersing your self in a culture completely different than your own.

You will learn what poverty is. You will learn the value of how to stretch a dollar. You will often be in situations where you need to learn how to survive despite the odds being against you. If you’re going to throw up you might as well do it from dysentery than from drinking too much at a frat party, “he writes. (5)

For even more ideas of what to do instead of college, check the resource section of this book for a link to Altucher’s report “40 Alternatives to College.”

References:

(1) Report CNN Money “Average Student Loan Debt Nears $27,000”

(2) Crawford, Matthew B. Shop Class as Soulcraft: An Inquiry into the Value of Work

(3) Smith, Charles Hugh, Higher Education Cartel, Meet Creative Destruction, Sept. 9,2013

(4) Tucker, Jeffrey A.”Is There A Viable Alternative to College?” The Freeman, July 2013

(5) Altucher, James “8 Alternatives to College” The Altucher Confidential. January 8, 2011

google news

Bitcoin

Different Types and Uses of Advanced Construction Equipment

Published

on

By

The construction industry is experiencing more demand than ever before, given that urbanization is taking place at a faster pace the world over. The role that construction equipment plays therefore is of paramount importance. The more a company understands how to derive the maximum efficiency from each piece of equipment it has, the better its project execution becomes. Here’s a look at the many purposes served by different kinds of advanced construction equipment:

  1. Earthmoving & Mining: Construction equipment that is capable of lifting huge quantities of earth in one scoop falls in this category. While bulldozers and articulated trucks are part of this kind, they are quite versatile and are widely used in highway construction projects. Some of the other specialized equipment is:
    • Surface Mining equipment, which includes electric shovels for mineral extraction, drills, mass excavators and giant draglines, which are extensively used in civil engineering.
    • Underground mining equipment, while similar, needs to function under different space parameters. Advanced pieces of such machinery include scalers, scissor lifts, and continuous miners.
  2. Excavation: Any kind of operation that requires digging, excavation, making trenches, etc. falls under this category. Many of the examples of machinery that are grouped under this require a great degree of flexibility and maneuverability, because of the limited area they might be operating under. The most popular and versatile of the lot is the backhoe loader. Apart from this, the other kinds that find widespread use are dredges (which are used in waterways to access sediments under water), excavators (in forestry, pipelines, and even mining) and trenchers for laying underground cable networks or to facilitate sewer systems.
  3. Lifting: Since the construction industry involves a great deal of hoisting material, people and other equipment, there are numerous specialized types of machines for this purpose, although some lifting can be done using excavators etc. They are developed taking into account various factors like machine capacity at specific heights, the speed of wind, maneuver radius, etc. The most popular equipment in this category includes boom trucks, forklifts, manlifts (specially designed for greater height reach without any impediments), cranes of many specialized varieties and pipe layers.
  4. Roads: Building a road is a project that necessitates the use of a rather wide variety of heavy machinery. Earthmoving, clearing areas, lifting work (especially when building a structure like a bridge) and paving are all activities that need different equipment. Cold planers (for milling asphalt), compactors (for ensuring a smooth, eve surface), curb machines, and crushing machines are just a few examples.
  5. Railroads: The use of several types of highly specialized machinery is needed when constructing railroads. Many factors like high cargo levels, passenger transit, energy consumption and safety have to be taken into consideration; so the equipment needed to serve these purposes has to be just right. Some of the commonly used machinery includes ballast tampers and ballast regulators. While the former help to render the railway tracks more durable and to facilitate perfect track alignment, the latter is aimed at distributing the gravel underneath the tracks more evenly.
google news
Continue Reading

Bitcoin

Valkor’s Gold Making Guide – Making Maximum Gold

Published

on

By

Some World of Warcraft players are surprised to learn exactly how much gold other players can make strictly through mining. Mining gold in World of Warcraft (WoW) has always been thought of as the “slow” method to acquiring large amounts of gold. But if you had the ability to look into other players’ accounts who strictly use the mining technique to acquire gold, you would probably be very surprised to see how much gold some of them have been able to acquire.

One of the “secrets” to mining large amounts of gold is to get a hold of a good gold making guide. There are a lot of these guides available, given that WoW is probably the most popular online computer game ever made. One of the leading Gold guides is called “Valkors Gold Making Guide”. This particular guide has been around for a few years now and was written by a player with several years of playing experience under his belt. It has become a best seller in the “gold making” category of WoW guidebooks for the simple reason that it works.

Thousands of copies of this book have been sold and are being used daily by World of Warcraft enthusiasts to make and sell gold for maximum profit. The guide covers a lot of ground in its 145 pages, but one of the main themes throughout the book is not just the making of gold, but also selling in the auction house. Too many players make the mistake of going to the auction house unprepared. Valkor’s Gold Making Guide spends a lot of time teaching your how to go to the auction house fully prepared so that your can maximize the spread between your buying price and selling price. “But low, sell high” is as true in the online computer gaming world as it is in the real world because the difference between the 2 prices is your profit.

WoW players who are best prepared for the fast-paced action in the auction house usually profit the most. Experienced Auction House WoW players typically will always do better in the game than players who may have expertise in other parts of the game but lack Auction House skills.

google news
Continue Reading

Bitcoin

Mines of Moria Leveling Guide

Published

on

By

Mines of Moria is the latest expansion for the well-known MMORPG The Lord of the Rings Online. Announced on March 14, 2008 was finally released on November 18, 2008.

The storyline is set in Moria, the complex underground land of the dwarves, in north-western Middle-earth and it was extended by six more books. Two brand new classes were introduced (warden and rune-keeper) as well as a new weapon enhancement system. The character level cap was also increased by ten levels.

The fastest way to go through the ten new levels is to follow this step-by-step Mines of Moria leveling guide:

Eregion (Level 50-53)

Start by doing the quests at Gwingris, in northern Eregion. The next steps will take you to Echad Eregion, South of Gwingris then to Echad Dunann, to the East. After completing the quests at these locations, go to Echad Mirobel South-Western area of Eregion, then the storyline will take you to the Walls of Moria to defeat the guardian of the entrance to the mines, The Watcher.

The Great Delving (Level 53-54)

After finishing Volume II, Book I you may adventure inside the kingdom of the dwarves, to Durin’s Threshold and then, East, to Dolven-view.

Durin’s Way (Level 54-55)

Next, the Mines of Moria leveling guide will take you the Chamber of the Crossroads in Durin’s Way, the northern wing of the Mines of Moria.

The Silvertine Lodes (Level 55-56)

The Silvertine Lodes is an intermediate mine between The Great Delving and The Waterworks. The quests here are about all concentrated in the Deep Descent.

The Waterworks (Level 56)

The second part of your level 56 should take part inside The Waterworks, one of the deepest area of the Mines of Moria. The easiest way to get here is to jump in the pit at the Deep Descent in Silvertine Lodes. You can find most of the quests at the Rotting Cellar, in Waterworks.

Durin’s Way (Level 56-57)

The following quests will head you to Jazargund and outside to Zirakzigil, back to Durin’s Way the northern wing of the Mines of Moria.

Zelem-melek (Level 57-58)

The most important place of the mines is the Twenty-first Hall, in north-eastern Zelem-melek. There is an Auction Hall and Crafting Hall, you can also find all the trainers here as well as an important number of quests.

Redhorn Lodes (Level 58-59)

The Redhorn Lodes area is situated South-East from Zelem-melek. The Orc-watch is the most important node of quests here.

Flaming Deeps (Level 59-59)

One of the high level zones of the Mines of Moria, Flaming Deeps, is located South of Zelem-melek. Go to Anazarmekhem at the northern entrance to this zone and start questing there.

The Foundations of Stone (Level 59-59)

This is one of the areas inside the mines with an increased degree of difficulty. Although there are solo quests at the Shadowed Refuge, but it is best to do them with a friend.

Lothlorien (Level 59-60)

The area where your leveling should end is Lothlorien. All the quests here are at Mekhem-bizru.

This Mines of Moria leveling guide shows the best order to go throught the zones of Eregion, Moria and Lothlorien. Most of the quests can be done by solo players but you will have your share of group content quests.

google news
Continue Reading

Bitcoin

Magical Panorama Route and Oliver’s Restaurant and Lodge

Published

on

By

Imagine… dramatic mountain scenery with isolated buttresses, sheer cliff faces and unusual geological features; imagine spectacular gorges, fairytale waterfalls and thick lush forests. I introduce to you ‘The Panorama Route’ in the Magical Mpumalanga Province of South Africa. Mpumalanga meaning ‘The place where the sun rises’.

The Panorama Route offers the traveller a number of spectacularly scenic viewpoints to experience this wonderland and includes views of the Blyde River Canyon (the 3rd largest canyon in the world) and its Three Rondavels, God’s Window, Pinnacle Rock, Bourke’s Luck Potholes and a number of beautiful waterfalls such as Mac Mac, Lone Creek and Lisbon Falls. The region also has an historical influence and a visit to the historic gold mining town of Pilgrims Rest is a must. Take a stroll down its quaint little main road viewing the restored historic buildings and miners huts, visit the museum to view the old mining relics, stop in at the tourist office and join a guided tour to experience the life in the gold mining hey days and try your hand at gold panning.

Most of the Panorama Route is situated on the Highveld. The views from God’s Window and Pinnacle Rock look out over the Lowveld way below. These 2 areas experience comparatively different climates. The Lowveld is subtropical, due to its proximity to the warm Indian Ocean and latitude. The Highveld is comparatively much cooler, due to its altitude of 2300m to 1700m above sea level. The Drakensberg Escarpment receives the most precipitation, with all other areas being moderately well-watered by mostly summer thunderstorms. The Highveld often experiences severe frost, whilst the Lowveld is mostly frost-free. Winter rainfall is rare, except for some drizzle on the escarpment.

My suggestion to you when travelling to South Africa is to combine a 2-night stay in or near The Panorama Route, with your African safari experience in the world-renowned Kruger National Park or in the private reserves just west of Kruger. Three of my absolute favourite luxury game lodges are Londolozi Private Game Reserve, Savanna Private Game Reserve and Lion Sands Private Game Reserve. These are all situated in the Sabi Sands Game Reserve well known for its excellent game viewing and in particular, its brilliant leopard sightings.

Now to bring you back to your experience on the Panorama Route, my suggestion here would be to stay at the award winning Oliver’s Restaurant and Lodge. This lodge has built a great name for itself. It is owner run and offers a friendly home away from home experience. Situated on a peaceful and tranquil country golf estate within easy reach of the Panorama Route, Kruger National Park and Nelspruit, the closest international airport.

Oliver’s Restaurant and Lodge rooms are luxurious, spacious and beautifully appointed. Attention to detail is superb. Personal service is top class. Cuisine is to die for. These combined attributes make it an absolute pleasure to stay here.

Spend the day lazing at the pool or being lavishly pampered in their wellness spa. A game of golf is right on your doorstep at the White River Golf Club. Outdoor activities in the region are plentiful and include quad biking, gorge swinging, white water rafting, hot air ballooning, helicopter scenic flights, hiking and horse riding. Obviously with Kruger National Park being only 25km away, you could also enjoy the day game viewing in your own vehicle. Pack a picnic lunch and spend the day roaming around the park spotting our fascinating African wildlife.

So one sees the abundance of options available to you in this area. It is well worth spending a couple of nights here to become acquainted with it and its friendly people. Just another magnificent part of our Rainbow Nation!

google news
Continue Reading

Bitcoin

High Potential in Kimberley Mine Dumps

Published

on

By

History of the Kimberley Diamond Fields

South Africa’s first diamond was found in 1866 in the Northern Province, along the Orange River banks. Following the discovery of the diamond, there was a extensive diamond rush, with thousands of hopeful prospectors flooding the area in search of alluvial diamonds along the river’s banks as well as by the banks of the nearby Vaal River.

Within a few years, several large diamonds were found, among them one located on a farm called Jagersfontein, which later became a famous diamond mine. After a number of discoveries, the area became known as Beaconsfield, which is today a suburb of Kimberley. One year after the discovery of the Jagersfontein diamond, the Kimberley and De Beers pipes were discovered nearby Bultfontein, and similar discoveries were made at farms such as Benaauwheidsfontein, Dorstfontein and Vooruitzicht. A fifth was found 20 years later, known as the Wesselton pipe.

While the pipes were initially worked by individuals, as the depth of the digging increased a more effective solution became necessary. In 1888 the De Beers Consolidated Mines came into being, under ownership of Cecil John Rhodes, a combination of the Kimberley and De Beers Mines.

In 1897, the rights to dig the Kimberley Mines were bought by a new company – Kimberley Mining Limited (KML). They mined until 1914, using a method known as opencast pit mining. This continued until World War I, in 1914. After the war ended in 1918, the mine was simply maintained for the next 8 years. At that point De Beers Consolidated took charge, but other than a few samplings of the mine’s contents, once in the 1950s and again in the 1980s, the mine has lain dormant. In 2002, the New Diamond Corporation (NDC) took control, but without funding the dumps and the mine became available. Today the Meepo Investment Consortium, part of the New African mining operations, has the rights to both the Caravan Park Dumps and the Kamfersdam Dumps of the Kimberley mines.

Town of Kimberley

Kimberley itself was established in 1871 following the diamond discoveries, and the town’s growth was largely as a result of the various mines built in the surrounding area. The town is named after kimberlite rocks – geologic volcanic rock formations that occur in vertical pipes, and which contain diamonds. Over time, the formations erode and the diamonds are carried downstream by rivers and streams to collect in alluvial diamond deposits. Not all kimberlites contain diamonds, and of those found not all are of sufficient quality or quantity to attract interest. However the alluvial diamonds found are usually of higher quality than those found inside the kimberlite pipes – because by the time the alluvial diamonds are discovered in their riverbed locations, low quality stones have been destroyed by the river’s current and only high quality stones remain.

One of the world’s premier areas for diamond mining, the Kimberley area is known today globally by members of the industry. It is nearly 500 km from Johannesburg and nearly 1,000 km from Cape Town.

Abandoned Mine Dumps

Today, in the area surrounding Kimberley there are a number of abandoned mine dumps that may have economic potential. Three of those dumps are: The Caravan Park dumps, the Kamfersdam dumps and the Eddie Williams Oval dumps. The Kimberley Municipality owns the mining rights to these areas, which they hope to turn one day into low-cost housing. Diamond Recovery can be carried out at the plant which is secured, and has both water and electricity. There is a perfect area for disposing of tailings. Kimberley’s infrastructure means it can be easily reached by airplane, railway or other means of public transport, a great boon to mining the area.

Reliability of Reports

While surveying has been done of late, it is not easy to judge the reliability of the resultant report. Primarily, both tailings and waste material have been dumped together, making the grades somewhat unreliable and although samples were taken from certain areas, the grades in other areas not tested could be vastly different. Today’s successful diamond recoveries from the Kimberley tailing dumps could be indicative of poor techniques used initially in the diamond recovery plants of the previous century. Another possible explanation is that previously the material was ground too coarsely and the smaller stones were not released or that the poorer graded material was dumped along with the tailings. As an experienced investor in New Africa Mining, I would say that this material’s diamonds, through the processes of weathering, have been released and are turning up in great quantities, also increasing the number of diamonds being recovered.

Caravan Park dumps

West of the Kimberly Mine Museum, these dumps hold material originally mined from the Kimberley mine – one of the biggest mines that existed as the 19th century drew to a close – from 1871 until 1914. The diggers mined to an ultimate depth of 1,097 meters. The caravan park sits on top of material that is between 1 and 2 meters thick, and as it contains some 595,000 tons of tailings, graded 9 cpht, there are approximately 53,550 carats worth of total diamonds located in the grounds here, with the largest diamond recovered from this dump so far weighing in at nearly 23 carats. In 2005, the dumps were mined for a total of 187 days and 1,122 hours. A total of 74,800 tons were mined and 4,874.28 carats were recovered at an average grade of 6.7 cpht. Estimates are that some 42% of the original dump material exists, which means that there is extraordinary potential for mining and a great return on the investment it will require to bring these mines to a fully active working state.

Kamfersdam dumps

Some six kilometers north of Kimberley, the Kamfersdam dumps hold material from the Kamfersdam mine, first discovered in 1880 and mined until 1914, when World War I broke out. By that time it had been mined to 104 meters deep. The Kamfersdam tailings dumps are all situated next to the abandoned Kamfersdam Mine north of Kimberley. The historically head grade of Kamfersdam was 28 carats per 100 tons (cpht). The two tailings of this dump total 5.2 meters or 5.4 million tons of tailings, which means there are an inferred.63 million total carats at 12 cpht. If 1 million tons are mined here per year, there should be another 4 – 6 years in which to make use of this resource. Despite the 12 cpht inferred, it is actually quite difficult to ascertain the grade of the material located in this dump, though it can be used for now. It will be important to discover the actual grade, as well as the average value per diamond carat – especially if it is to be compared with the diamonds found in the Caravan Park dumps so that a true estimate of its economic value can be ascertained. Over the next 4-6 years,mining these dumps should be an extremely lucrative venture, well worth the investment and a reliable source of income and investment return.

Eddie Williams Oval dumps

Some 3 kilometers north of Kimberley, these are a number of dumps that have very few resources left inside and are not worth discussing much further, so this paper will refrain from providing any more details at this stage.

google news
Continue Reading

Bitcoin

A Short Primer To Get A Canadian Commercial Mortgage In The US

Published

on

By

Owning a commercial property in the United States is the dream of almost every Canadian citizen living in the USA. Many of them have no idea of how to obtain a commercial finance or mortgage. Certainly, purchasing a commercial property in the US presents its own challenges, if you are not a US citizen, rather a Canadian. As per a survey by the National Association of Realtors (NAR), more than half of the property transactions are done in cash in the US.

However, commercial mortgage lenders are willing to extend credit to Canadian citizens on attractive terms. Sometimes these lenders even provide credit to them without a credit history in the US. Getting a commercial mortgage depends on the residential status of the Canadian citizen. Canadian borrowers can be categorized into the below categories based on their residential status.

  • Non-permanent residents with a valid Work Visa (G1-G4, E1, E2, H1B, L1, H3, H2B, and H2A)
  • Permanent Residents with a Green Card (form 1-551)
  • Foreign nationals whose residence is not in the US

Paying for mortgage

If you are a Canadian citizen who wants to purchase a commercial property in the US, then be prepared to pay more for your commercial mortgage as US mortgages are compounded monthly as opposed to commercial mortgages in Canada which are computed semi-annually. In addition to this, there may also be tax deductible in the United States for its Permanent Residents. Whereas, there is no such tax deductible available for Canadian citizens interested in purchasing a commercial property in the United States by getting commercial mortgage finance.

How to apply for Canadian citizen mortgage?

Canadians can apply for a commercial loan in the US remotely via Email or phone, if they do not mind a few long distance charges. Most of the lenders and brokers strongly recommend that Canadian citizens should have a US business bank account via a ITIN (individual tax identification number) in order to facilitate the funding of finance and transfer of the down payments for the closing.

Some of the reputed lenders offer secured mortgages of up to 75% of loan-to-value (LTV) at very competitive interest rates. Canadian citizens can avail such finances in all 50 states of US. In order to attain maximum client satisfaction, such transactions are closed in 30-45 days. The closing of Canadian citizen mortgage should be done in person in the United States, preferably at the offices of the commercial loan lenders.

Documents required for processing of the mortgages?

  • Legible copy of valid Canadian passport
  • Copy of Canadian Credit History Report
  • Fully executed legible purchase and sale contract which is signed by all the parties Verification of funds or deposit
  • 3 months bank statements showing that they have enough funds for a purchase
  • Personal Financial Statement stating Assets & Liabilities
  • Professional Reference Letter from CPA & Personal Banker
  • Bio or Resume on the Sponsor outlining previous ownership and experience managing such sizable investment
  • property if more than a $1M.+ investment
  • Real Estate Schedule of Existing Real Estate Owned In The U.S or Canada
  • Copy of U.S Individual Tax Identification Number
  • Copy of Earnest Money Deposit or Escrow Letter
  • Canadian Primary Residence

The final thought

Many commercial loan brokers and mortgage lending companies in the US offer commercial loans to Canadian citizens after verifying their financial track record, residency status and work history.

google news
Continue Reading

Bitcoin

How Cisco Meraki Can Save Both An Enterprise’s Time and Money

Published

on

By

The whole idea behind Cisco Meraki was generated due to a peculiar problem faced by Tim Irimies, IT Manager of Saracen Mineral Holdings. The gold mining company has five mining sites spread across Western Australia that house over 200 employees and 750 contractors. Tim wanted to manage the networking needs of those sites and he had just two IT officials based in an office in Perth. The challenge was new, but it became evident that this was the need of the near future.

With the help of Cisco Meraki, Saracen was able to fulfill all his requirements with ease. Foremostly, it was easy to install; even a non-technical person could do it. It empowered the two IT officials Saracen had to monitor and troubleshoot the installation process without leaving the office in Perth. With Meraki devices in place, Saracen could now have transparency at what was happening at network devices, client devices and connections in real-time. This was not limited to a single property, but all the 5 mining sites. With the power to access remotely through Meraki Dashboard, Saracen had everything he needed.

If you analyze this particular case, with the help of Cisco Meraki, Saracen no longer needed to invest in numerous technical professionals to troubleshoot issues at all his locations. He was easily able to ensure a regular flow of information through all the sites without moving an inch. In addition, he was able to keep a track on all his network devices. He not only saved his money but also time.

In the current scenario, where time is of great essence, Cisco Meraki emerges to be a perfect solution for wireless management, networking, and switching. The best part is that it is also extremely secure, which makes it an instant favorite among the enterprises.

Some of the superior features of Cisco Meraki that cannot be overlooked are as follows:

  • Considerably lower the network management investment
  • Can be installed by any non-technical person
  • Comes with pre-configured adapter and AP settings
  • Offers an extremely reliable and unwavering network connection
  • Easily scalable to accommodate the rapid growth of wireless
  • Provides great savings on operational costs of a) Dedicated training of the staff, b) Deployment of trained officials at different locations and c) Software upgrade on separate devices periodically
  • Easy access anytime and anywhere
  • A unified view of the whole network irrespective if the diverse geographical locations of the end devices

Concluding everything, it is safe to say that Cisco Meraki is an excellent solution that can efficiently help an enterprise save their money as well as time investments.

google news
Continue Reading

Bitcoin

How to Compare Mortgage Refinance Rates – Use a Mortgage Refinance Loan Comparison Site

Published

on

By

You always want to compare mortgage refinance rates before choosing a particular a lender as this is truly the only method to ensure that you are being offered the best mortgage rate on the market. People refinance their mortgage for several reasons but whatever your financial goals are I can say undoubtedly that this is the best time in history to refinance your mortgage. With interest rates currently at all time lows, along with the attractive incentives from the Obama administration, it has never been so financially advantageous for homeowners to consider a mortgage refinance.

The best way to compare mortgage refinance rates is to utilize a mortgage refinance loan comparison site. These sites will let you evaluate what mortgage refinance lenders are able to offer you the best mortgage rates. They will usually have an application that you fill out online and after it is completed you are able to get instant feedback on whether or not a mortgage refinance is right for you. The best mortgage lenders will provide you a cost/benefit analysis free of charge to help you further identify whether refinancing your home is a wise financial decision.

A mortgage refinance loan comparison site basically will take the prospecting and researching part of the process of finding the best mortgage rates. It is important that you go to a comparison site that is affiliated with several mortgage lenders and not just a few. These multiple lender comparison sites make the various lenders compete over your refinance loan and therefore act as your personal broker in a sense. They are able to use leverage through a large affiliation of mortgage lenders to guarantee the consumer the best rate on the market.

When businesses compete you win. I’m sure you’ve heard this saying before but this statement is true in almost every business sector. More competition results in a better rate for the consumer. Multiple lender websites, while relatively new, have proven to consistently offer consumers the best mortgage rate on the market. Most of these sites are free to the consumer and you would be foolish not to utilize this service if you are considering refinancing your mortgage.

After you compare mortgage refinance rates through a multiple lender comparison site you will be matched up with 3-4 lenders who were able to provide the most competitive rates. I would suggest doing a little research before talking to a mortgage professional so you are able to ask them tough questions and see who you feel most comfortable dealing with.

Using a mortgage loan comparison site is the most efficient way to compare mortgage refinance rates and find a quality lender. Most of these sites are completely free to the consumer and I strongly encourage homeowners to at least consider refinancing your mortgage. There really has never been a better time in history to refinance your home and taking action now with historic low interest rates will most likely turn out to be a financially savvy decision.

google news
Continue Reading

Bitcoin

Why Consider Having Your Broken Gadgets Be Fixed Rather Than Be Replaced?

Published

on

By

If you have accidentally damaged your phone, it does not necessarily mean that you need to buy a new one. Screen cracked? Battery is not charging anymore? Camera and speaker stopped working? All of these issues can actually be fixed.

Experts highly advised having your broken gadgets be fixed instead of replacing them. Of course, this option is more affordable. But there are other reasons.

Why Opt For Gadget Repair Services

You will become knowledgeable – Repair will not give you control over your stuff; rather, it will connect you with it as you begin learning what makes it tick. Also, you won’t be overcharged for just a simple repair again.

E-waste can be prevented – Did you know that about 75% of broken gadgets end up in incinerators, landfills or e-waste dump sites worldwide? Gadgets being recycled are often shredded, and then sold as raw materials.

Mining and manufacturing efforts can be conserved – Mining is actually hard on earth. It can result to huge wastewater leaks. Manufacturing, on the other hand, has real human costs. If you opt to fix your old stuff, you are not actually contributing to the mining and manufacturing of new things or items.

Why Phones Get Broken

Dropping – About 29% of smartphone claims are associated with dropping phone down the stairs. Others even dropped their gadgets in parking lots, hot air balloons, sidewalks, and hardwood floors. It is for this very reason that it is very important for users to invest in cases that can withstand almost anything you can throw at it.

Liquid – These will include spilling a drink and dropping them in a toilet.

Scratching – Screen scratches are not just caused by the keys in your pocket. It is also caused by the particles of dirt and dust rubbing against the glass as you move. They can also be a result of loose items inside your handbag. Be reminded that you can have an unlimited supply of potential screen tarnishing alternatives.

Unlocking your phone – This can result to 2 things immediately. It will void your warranty as well as boost the chances of unintended damage to the software exponentially. It may even cause many of your apps to stop working. Bear in mind that if you commit any mistakes during the conversion process, you will certainly be staring at an error screen on a costly doorstop. Repairing must only be done by knowledgeable and skilled repair experts.

Children – 1 out of 4 parents reported that their phone have been damaged by their kids. With their mind boggling and creative ways, the little ones can actually destroy a lot of things. Be reminded that in the hands of a skilled child, your gadget can go from cutting edge to paperweight in an instant.

Regardless of what the reason may be for having a broken phone, it is highly recommended that you must have the experts fixed it. Look into reliable phone repair services in your area.

google news
Continue Reading

Bitcoin

Manual Credit Card Imprinters Becoming Obsolete

Published

on

By

Since the introduction of credit cards in the 1960’s, the cards have carried the card number, expiration date and cardholder name in embossed or raised letters on the plastic card surface.  Mechanical devices were developed and used to imprint credit card charge slips from those raised alphanumerics.  Those slips were then, for many years, deposited into the merchant’s bank account like checks to prove the transaction took place. More recently, the cards were affixed with a magnetic stripe and were swiped through electronic devices that read and transmit the card information to processing centers for verification and sale authorization. 

Electronic processing has now become so standardized that last year Visa announced they were going to phase out the embossing of card information on the card surface and future cards will be “flat”, the card information printed but only accessible magnetically with the stripe on the back.   Other card associations – MasterCard and the rest-will follow suit shortly.

Few merchants still manually take imprints of cards anymore, with the exception of merchants accepting card payments for delivery of goods or services ordered by telephone – such as a pizza restaurant, for example.  They do so to verify that the physical card has been presented to the merchant during the transaction, in order to prevent fraudulent charge backs.

In my own wallet I have an ePassporte Visa Electron card and the numbers are flat.  No imprint can be taken.

And no imprint any longer needs to be taken.  The new standard is to always swipe the card through a terminal, whether that terminal be in the store, next to or part of the cash register or point of sale system, or via use of a wireless terminal a driver carries with themselves to the customer for payment at time of delivery.

If your business takes orders by telephone or mail and you are manually keying credit card numbers into your terminal, you are costing yourself a lot of money in additional card processing fees.  Manually keyed-in transactions are processed as “non-qualified” transactions at a rate more than double your basic rate, due to risk of fraud by the card not being physically present.

The fact is, card imprints are no longer a safeguard against fraud, because any criminal can create phony credit cards and use an Addressograph machine to emboss stolen credit card numbers onto them.  Encoding a magnetic stripe on the back, however, is almost impossible to counterfeit.  The stripe contains not only the card number but other coding which, when swiped through a terminal, verifies to the bank that the actual card is present and being swiped, not manually keyed in.

What can a merchant do?

Short of purchasing some sort of portable photocopier to copy the customer’s card and perhaps I.D., the only thing to do is to catch up with 21st century technology and equip your drivers or delivery personnel with wireless credit card terminals.  The terminals may be purchased or leased from your credit card processor and they pay for themselves quickly, because now all transactions they process will be under a lower  rate, as card-present transactions.

These terminals include a printer so you can get a signed receipt from the customer after the transaction is put through and authorized, and you print a second receipt copy for the customer.  Just as if the customer had been physically in your store.

I have equipped many mobile merchants with these devices: food delivery, locksmiths, massage therapists, computer technicians, handymen, plumbers and other repair personnel – the list is growing every day as more businesses go mobile and deliver their goods and services to customers.  The terminals are also great for fairs, shows, conventions and other locales with no landline telephone access available.

google news
Continue Reading

Trending