Tuesday, July 30, 2013

MoneyScience News

MoneyScience News


Blog Post: TheFinancialServicesClub: The world's best and worst job titles

Posted: 30 Jul 2013 03:20 AM PDT

How the world has changed.read more...

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Blog Post: TheAlephBlog: The Rules, Part XLVIII

Posted: 29 Jul 2013 11:58 PM PDT

If an asset-backed security can produce a book return less than zero for reasons other than default, that asset-backed security should not be permitted as a reserve investment.read more...

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Published / Preprint: Extracting information from the signature of a financial data stream. (arXiv:1307.7244v1 [q-fin.ST])

Posted: 29 Jul 2013 05:38 PM PDT

Market events such as order placement and order cancellation are examples of the complex and substantial flow of data that surrounds a modern financial engineer. New mathematical techniques, developed to describe the interactions of complex oscillatory systems (known as the theory of rough paths) provides new tools for analysing and describing these data streams and extracting the vital...

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Vendor News: NAG announces support for IBM BlueGene/Q supercomputers

Posted: 13 Nov 2012 03:01 AM PST

 read more...

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Women's Views on News

Women's Views on News


Sports round-up: 22-28 July

Posted: 29 Jul 2013 03:00 AM PDT

2-london-olympic-stadiumWelcome to our bulletin of the news and results from British women’s sport this week.

Athletics:

Britain's women excelled at the IPC Athletics World Championships this week in Lyon.

The undoubted star was Hannah Cockcroft, who completed the sprint double.

She took the T34 100m in 17.88 seconds, having secured her first gold earlier in the week in the 200m.

In an interview with the BBC she said, “Everyone is expecting me to go out and win each time and that is a challenge but I want to win every race that I can enter.”

Also on the track, 16-year old Sophie Hahn won gold in the T38 100m to add to the silver she took earlier in the week in the 200m.

Libby Clegg won two silvers in the T12 100m and 200m.

Bethany Woodward also took silver in the T37 200m.

It was joy for 16 year-old Sophie Kamlish, who won the T44 200m bronze in a personal best time of 28.71 seconds.

“The 200m isn’t my favourite event so it’s amazing to have been able to win a medal in it,” she told BBC sport.

Fifteen year-old Erin McBride also won bronze in the T13 400m, also with a personal best time.

In field events, Hollie Arnold won the F46 javelin on Monday, and Josie Pearson racked up a bronze in the club throw and a gold in the discus F51/52/53 event with a throw of 7.09m.

The latter was thrown into doubt when the American team put in an appeal over her equipment. The appeal was upheld, but then overturned when the British team put in a counter-appeal. This meant that Pearson added the World Championships gold to the gold she won at London 2012 last year.

Meanwhile, in an atmosphere to rival last year's Olympic Games, some of the top names in athletics appeared this weekend in the Anniversary Games at the Olympic Stadium.

One of the most eagerly watched was Jessica Ennis-Hill. She is just returning from injury and looked nervous as she took fourth in the 100m hurdles and eighth in the long jump. There is still some doubt as to whether she will be on the plane to Moscow for next month's World Championships.

In better news, Christine Ohuruogu ran a storming 400m in a season's best time of 50 seconds dead. She is in great form looking forward to Moscow.

Katarina Johnson-Thompson won the long jump with 6.46m.

One of the most impressive displays was from the GB women’s 4 x 100m relay team, comprising Dina Asher-Smith, Ashleigh Nelson, Anyika Onuora and Annabelle Lewis, who won in a time of 42.69 seconds. This was the fastest time recorded by British women's team for 12 years.

Perri Shakes-Drayton was edged out in the 400m by Czech athlete Zuzana Hejnova, but her time of 53.67 was a personal best. She too looks in fine form for Moscow.

At the Paralympic Anniversary Games on 28 July, Hannah Cockcroft made it three wins in a week, winning the T33/34 100m in a time of 17.80 seconds.

Libby Clegg won the T12 100m in 12.19 seconds to go with the two silvers she won earlier in the week at the World Championships.

Tennis:

Former British number one Anne Keothavong announced her retirement from tennis this week at the age of 29. At her peak she was ranked 48 in the world.

She plans to join BT Sport's tennis coverage team later on in the year.

During her career she won 20 singles titles on the ITF circuit and eight doubles titles. Her best Grand Slam performance came in 2008, when she reached the third round of the US Open.

“I have given my decision a lot of thought and I believe this is the right time to move on to the next stage of my career.

“I think I am leaving tennis in excellent shape with both Laura Robson and Heather Watson leading the way for Britain in the women’s game,” she told the BBC.

Meanwhile, also this week, British number two Heather Watson has announced she has split with her coach Mauricio Hadad. She will now work with Jeremy Bates during the US hard-court season.

Since suffering a bout of glandular fever earlier this year, Watson's ranking has slipped to 78 in the world.

Cycling:

It was announced this week that a women's Tour of Britain cycle race will be staged in 2014.

The race will be over five days and will take place in May.

Head of British Cycling Brian Cookson said: “There’s been a lot of attention recently on the need to develop women’s cycling at all levels of the sport. People are passionate about the issue and are rightly frustrated that not enough is being done.

“I’m pleased to be able to confirm that there will now be a five-day international stage race for women in Britain in 2014.

“The event will be separate from the men’s race, but it will be promoted to a high standard and will, I’m sure, be the first step in having a full equivalent Tour of Britain as it develops.”

Sturtevant in the Serpentine Gallery

Posted: 29 Jul 2013 01:09 AM PDT

Sturtevant Finite Infinite Moderna MusuemAn artist making ground-breaking and enigmatic work since her first exhibitions in the mid-1960s.

The Serpentine Gallery is currently presenting Leaps Jumps and Bumps, the first solo exhibition of the work of Elaine Sturtevant to be held in a public institution in the UK.

Born in Lakewood, Ohio, in 1930 and based in Paris since the 1990s, Sturtevant has made ground-breaking and enigmatic work since her first exhibitions in New York in the mid-1960s.

Best known for the repetition of works by other artists – including Joseph Beuys, Marcel Duchamp and Felix Gonzalez-Torres – she made her controversial artistic debut in 1965 when she replicated Andy Warhol’s flower paintings, just months after their initial presentation.

She manually reproduced paintings and objects created by her contemporaries with results that can immediately be identified with an original – closely enough to intrigue the viewer and raise the fundamental question, what am I looking at?

During the era of Pop-art, Sturtevant made her version of Warhol's flowers, John's Flags, Stella's black and grey paintings and developed this discourse a decade later after moving to Paris, with works based on Marcel Duchamp, Joseph Beuys and Anselm Kiefer.

In the last two decades, Sturtevant has evolved a highly structured and rigorous exploration of current events, using multi-screen video works and installations.

Despite early hostility to her work and ideas, her influence has grown significantly over the past two decades.

Many now regard her as one of the most important artists of the 21st century, realising that she presaged the world we live in today with its deluge of unattributed information and repeating imagery.

Central to her thinking is the relationship between repetition and difference.

The works are not ‘copies’ but probe beyond the surface to demonstrate the power of Gilles Deleuze’s and Michel Foucault’s thinking about repetition.

She does this through the wholesale re-creation of the work itself, without recourse to mechanical reproduction of any kind.

As Sturtevant says, ‘The work is done predominantly from memory, using the same techniques, making the same errors and thus coming out in the same place’.

Warhol was once asked how he made his work. ‘Ask Elaine [Sturtevant],’ he replied.

The intention and force of Sturtevant's work is to trigger thinking.

As she has said: 'The Abstract Expressionists were all emotion on the surface, and the Pop Artists were about mass culture, so this of course triggers thinking about the under-structure of art.

"What is the power, the silent power, of art?

"I started thinking about that and, after a long period of thinking, I realised this would be a way of doing it.

"It seems so simple, but I had to probe and reflect that it was correct. It’s always the simplest ideas that are somehow the most difficult to grasp.

Since 2000, Sturtevant has embraced film and video, advertising and internet-based images, producing work that reflects the fragmented and pervasive nature of our image-saturated culture.

Leaps Jumps and Bumps will showcase Sturtevant’s work since the 1970s, including core works that demonstrate the wide variety of media she has embraced.

The exhibition will include the large-scale video work, Finite Infinite, 2010, and a piece comprising garlands of light bulbs, Gonzalez-Torres Untitled (America), 2004, an earlier version of which was shown at the Serpentine Gallery in 2000 in the Felix Gonzalez-Torres exhibition.

Sturtevant participated in the Serpentine’s Manifesto Marathon in 2008, with a piece called 'Dumbing down and Dunkin’ Doughnuts', which claimed that ‘stupidity is our new chic’.

Awarded the Golden Lion for Lifetime Achievement by the Venice Biennale in 2011, Sturtevant has had numerous solo exhibitions internationally, including at Moderna Museet Stockholm and Kunsthalle Zurich (both 2012), Musée d’Art Moderne de la Ville de Paris (2010) and MMK Frankfurt (2005).

Leaps Jumps and Bumps is at the Serpentine Gallery, in Kensington Gardens, London W2 3XA, and runs until 26 August.

An interview with Caroline Criado-Perez

Posted: 29 Jul 2013 01:00 AM PDT

bank notes, women's room, mediawatchWVoN talked to the co-founder of The Women’s Room and Mediawatch who wants women to stay on banknotes.

Caroline Criado-Perez has been a very busy woman lately.

Not content with taking on British media with The Women’s Room, a database of female experts available to talk to the media, and mediawatch, as the woman behind the campaign to keep a woman on British banknotes, she took on the might of the Bank of England.

That started following an announcement by the bank that it was replacing Elizabeth Fry – the last remaining woman on a British banknote – on the £5 note with Winston Churchill; Criado-Perez felt compelled to act.

She started a petition to try to get the bank to re-think its decision, but despite gaining over 35,000 signatures and counting, the bank proved reluctant to engage with the concept of equality.

‘I’m amazed at how hard we have had to fight to get a woman on a bank note,’ says Criado-Perez. ‘It shows how far we have to go, especially with big institutions.’

One of the biggest criticisms of the campaign came from people claiming the issue was a trivial one, that the campaign was making a fuss over nothing.

Why bother about a picture on a bank note when there are so many more important things in the world to worry about?

But as the petition points out, a sexist culture where women are routinely overlooked, undermined and abused is made up of small issues, and if we want to tackle that culture we can’t ignore the small issues.

And Criado-Perez is clear that the amount of ‘fuss’ that was made was purely down to the bank.

‘If the bank had simply engaged with the issue of equality instead of attempting to dismiss it, it wouldn’t have become such a big deal,’ she said.

Contrary to the legal advice Criado-Perez received when she consulted lawyers about mounting a legal challenge against the Bank and its actions, the Bank steadfastly refused to acknowledge that the 2010 Equality Act applied to its decision.

However, that changed with the appointment of a new governor of the bank, Mark Carney, who replaced Mervyn King; on July 24, the bank confirmed that while Elizabeth Fry would still be replaced, the new £10 note, due for release in 2017, would feature Jane Austen.

It is without doubt a victory, but can I be the only one wondering why we couldn’t have kept Fry and got Austen as well? Presumably civilisation would fall if we had two women on currency at the same time.

Criado-Perez is clear that the campaign owes its success to the new power of social media.

‘There was a similar campaign in Canada,’ she said, ‘which never took off because the instigator didn’t utilise social media.

‘Big institutions like the Bank of England just don’t ‘get’  social media and don’t realise that you can no longer just dismiss criticism in the way Mervyn King thought he could.’

After a meeting with the bank, Criado-Perez was convinced it would re-assess its decision.

‘Mark Carney arrived in his job when the bank had had three weeks of bad publicity over this. He just wanted to clear the issue off his desk,’ she explained.

Criado-Perez has also used social media to great effect in her other role as founder of The Women’s Room, a site that encourages women to sign up as experts in their field to help redress the imbalance of expert representation in the media.

Criado-Perez started The Women’s Room in 2012 after the BBC’s Today programme ran segments – two days in a row -  on female issues; teenage girls and contraception and breast cancer. Both programmes featured contributions exclusively by men.

Responding to the ensuing criticism, the BBC claimed that they had been unable to find female experts – despite their best efforts.

Criado-Perez wasn’t buying it.

‘Their best efforts clearly weren’t very good,’ she said. ‘The Women’s Room has so far found nearly 3000 female experts in all kinds of fields.’

She has found, however, that there are issues when it comes to female experts.

‘There are several issues,’ she said. ‘The first being which news stories are thought to be important; that’s a value judgment for a start and you often find that women’s issues aren’t considered newsworthy, so that’s the first thing we need to tackle.

‘The second issue is who the media thinks it needs to speak to.

The BBC in particular always has a thing about speaking to the person who is accountable regarding the topic in question.

So it will, for example, just want to speak to the particular politician responsible for a political news story, which is fair enough in itself, but it means the public doesn’t learn anything new and it means they tend to speak only to men.

‘It’s much better to also speak to people who have different opinions around an issue so the public get a much bigger picture of what’s going on. And all of those people could be women.’

There is also, she said, a real problem with imposter syndrome for women.

‘It’s very real. The most extreme examples are women who say, “well, I’m a PhD with 10 years’ post-doctoral experience in my field but I wouldn’t consider myself an expert.”‘

‘Women tend to need to be much more certain than men about their knowledge before they’ll speak out as an expert on an issue.’

This tendency is perhaps at least partly explained by what Criado-Perez sees as the final problem.

‘There’s no doubt that there are extra pressures on women when they speak out.

‘Women get criticised much more than men for their opinions and we do sometimes feel we have the weight of our entire gender on our shoulders. A man makes a stupid comment, it’s on him, nobody says all men are stupid, but if a woman does it, all women are stupid.’

But the efforts of The Women’s Room are, Criado-Perez believes, starting to change this culture.

‘Just the fact that people are talking about it helps,’ she said. ‘The BBC now knows people are watching it, so it knows if it presents an all-male panel people will notice.’

And the BBC notices too.

When a BBC programme makes it onto ‘Mediawatch’, the section of The Women’s Room site which names and shames specific programmes for gender imbalance, Criado -Perez says she has had BBC personnel contacting her, ‘upset that their programme has made it onto the list.’

The situation, although improving, is still pretty shameful, however.

But Criado-Perez is optimistic about the future.

‘It only takes somebody willing to make a change. Sky News use experts from The Women’s Room regularly, because one producer there has decided to address the issue and do something about it.

‘Sky takes a wider view than the BBC, for example by asking female experts to speak about research which has been done by a man, rather than just asking the researcher himself to speak.

‘Now Sky News is doing much better at using female experts, so it can be done.’

Not content with changing the face of British media and – quite literally – the face of national bank notes, Criado-Perez has big dreams for The Women’s Room.

One idea, says Criado-Perez, is to take The Women’s Room into schools.

‘I’d really like to start going into schools and talking to young girls about the ways in which the media perpetuates a culture which tells them they’re useless.

‘I have lots of other ideas about how to expand The Women’s Room, all of which, unfortunately, require funding. My time at the minute is spent finding funding streams.’

In the meantime, Criado-Perez still writes for her blog site, ‘Week Woman‘, which started it all.

The reason she started writing it was simple enough; ‘I just wanted to change the world,’ she said.

It’s fair to say she may well be on her way to doing just that.

UPDATE:

As a result of Criado-Perez’s success over the bank note issue, she was subjected to rape threats –  ”about 50 abusive tweets an hour for about 12 hours“ - on Twitter which is now facing a major backlash over claims it failed to deal with the threats. Sian at Crooked Rib gives a good account of why it is important to fight such abuse and also points out that it is against the law.

A change.org petition has been set up to persuade Twitter to improve its current mechanism for reporting such abuse.  The petition – which has over 13000 signatures to date – can be signed here.

Let’s hope that Twitter listens.

news.casinolife

news.casinolife


California’s Indian tribes denounce Internet gambling cafes: Opinion

Posted: 29 Jul 2013 11:30 AM PDT

 

 

The Los Angeles County Sheriff’s Department recently raided several illegal Internet gambling operations in the city of Carson that have created blight in the community and a public safety hazard for its residents. These unlawful enterprises are proliferating communities across the state.

“Internet Sweepstakes Cafés” are criminal gambling operations that run computer casino games like video slots and video poker, which can only be legally played in California with a state license. Customers can win cash prizes and redeem their winnings at each facility.

Robert Smith CTBA Chairman

However, despite the fact the state has declared these organizations “illegal gambling operations,” the responsibility of investigating and prosecuting the operators of these illegal businesses has fallen directly on local police agencies. While some communities, such as Carson, have been proactive in cracking down on these operators, many of these shops are slipping under the radar due to lack of resources and financial constraints on city budgets.

The California Tribal Business Alliance (CTBA) is calling on state law enforcement agencies to become more engaged and make a stronger commitment to prioritizing the shuttering of these illegal gambling operations statewide, eliminating the criminal element they cultivate and providing the necessary funds to follow through on investigations and prosecutions.

The Daily Breeze recently reported that the raid of three Carson storefronts — which posed as shops that offer faxing, copying and printing services — (including the one in the attached photo) resulted in the confiscation of more than 100 pieces of evidence including computers, bookkeeping tools and illegal slot machines.

According to the American Gaming Association, Internet cafés have experienced viral growth throughout the country, pulling in about $10 billion in profits without having to pay gaming taxes or licensing fees. The true extent of these operations is unknown since they do not report revenues generated.

These illicit businesses divert revenues from state-licensed gaming organizations, which provide more than $1 million a day to the general fund. These resources pay for things like basic health services, education and infrastructure development within the state budget. On a local level, casinos also pay for social services, recreation programs and law enforcement enhancement as part of their agreements with cities.

Still, Internet cafés are tax-free, unregulated, and the managers are not required to pass criminal background checks. There is no assurance or protection to consumers that owners operate in a fair and clean manner, or to the highest standards by which the regulated gaming industry is set.

With no regard for rules against underage gambling or problem gamblers, these illegitimate facilities go unfettered by the law of the land and undermine California’s basic principle of controlled gaming.

Indian Country views internet cafés as some of the most sinister illegal gambling schemes because they deceive patrons into believing the gaming is legal. But what they fail to realize is that the operations create blight, attract prostitution and foster drug activity, becoming a public nuisance for nearby business owners and surrounding residential neighborhoods, who must deal with the fallout.

These operations subsequently drain municipal budgets and create public safety hot spots.

In addition to the direct impacts to local neighborhoods, they also undermine Tribal compacts with California. Any form of illegal gambling is a serious concern for Native Americans, who rely on these funds through the brick and mortar gaming institutions we’ve established. They provide for our Tribal member’s housing, health care and education. Tribes also use this money to fund philanthropic efforts in the communities they serve, like recreation programs and healthcare clinics.

CTBA encourages the state to follow in the footsteps of Florida and five other states, where law enforcement has begun to shut down entire syndicates, with charges being filed under RICO laws. Several cities in California have also banned internet sweepstakes cafés to eliminate potential public safety problems and protect local Tribal funding initiatives.

It is time for the state to take on a leadership role with regard to these illegal shops and remove the threat to Tribal compacts and voter mandates, eradicate blight in local neighborhoods and eliminate further fiscal impacts to the state. They need to provide law enforcement with the tools and resources necessary to protect the public.

Otherwise, we may begin to see the depletion of public safety budgets due to the growing prevalence of internet cafés.

Robert Smith is chairman of the California Tribal Business Alliance and chair of the Pala Band of Luiseño Indians.

 

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Cuba Needs Casinos

Posted: 29 Jul 2013 05:47 AM PDT

Professor I. Nelson Rose

 

He may not be dead.  But on a recent trip to Cuba, I was told by both American and Cuban experts that he is beyond retired.  His image may be everywhere, but he no longer has a living influence.  Fidel has become to Cuba what Mao is to China.

His younger brother, Raul, is still alive, but is 82 years old.  He has called for term limits, including his own.  He will not run for reelection as President in 2018.

Since taking over from Fidel in 2007, Raul started introducing reforms.  He had to. Cuba is a country where nuclear physicists drive taxis, because they can make more than their $40 per month government salaries.  Under Fidel, Cubans could not buy or sell cars or homes, so they arranged phoney marriages.  The property could then be transferred through a divorce.

Still today, everyone owns their own apartments, but literally nobody owns the apartment buildings; so, there is no one to fix leaking roofs. Since there are no opportunities, young adults flee the country.  Many are willing to risk their lives on Styrofoam rafts to try to get to America. Change is coming to Cuba.  The big questions are whether it will be slow or fast, peaceful or violent.

The old men who have led Cuba for the last 54 years – there have been 11 U.S. Presidents since Fidel took over – are survivors.  They know how to hang on to power.  If a charismatic leader arose who might one day challenge the Castro brothers, he was sent to work in the sugar fields.  So, there is no caudillo (strong man) to lead a second revolution.

But the old men also have to keep the disappointment and anger of the general population under control.  They are understandably scared by what they saw happen to dictators during the "Arab Spring."

On January 14, 2013, the government began allowing most Cubans to leave the country, without having to get approval, pay $400 for a visa or forfeiting their right to return.  This may turn out to be like the fall of the Berlin Wall.  Average citizens visiting countries with more than four state-controlled television channels, let alone access to the Internet, will be more frustrated upon their return, with their lack of just about everything.

The U.S. embargo, and the failures of communism, have locked Cuba into 1959.  Even the cars and buildings are the same.  And this may provide the solution to Cuba's problems. Classic 1950′s Fords and Chevys are everywhere.  Imagine the reaction of a guy making $20 a month, after trade reopens with the U.S.: "I won't give you more than $40,000 for your car."

Cuba's 1950′s hotels are also still standing.  More importantly, so are its casinos.  Although now dark and empty, nothing else has changed; even the chandeliers are the same.  You swear you hear the ghost whispering of long-gone slot machines and crap tables, when you walk around the Riviera casino.

Many of the bars and nightclubs are still open.  The largest showroom of them all, the Tropicana with its multi-level, outdoor stage, sells out every night.  The extravaganza features statuesque showgirls with feathered headdresses and sexy dancing, or at least what would have been considered sexy in 1959.

Fidel, through his hand-picked provisional president, Manuel Urrutia, closed the casinos immediately after seizing power, just as he canceled the national lottery.  But the thousands of Cubans thrown out of work took to the streets in protest.  Castro's own economic advisors told him that the country's economy would collapse unless the casinos were reopened.

They proved to be right, but too late.  Castro relented, for a while.  But tourists, especially Americans, stayed away in droves.  The casinos were closed for good; and the economy did collapse. Communist nations are not averse to legal gambling.  Casinos in particular have been seen as a way of extracting hard currency from tourists and from the underground economy.  I played in a casino in Hungary, with all transactions in Deutsche Marks (this was before the euro). The Socialist Republic of Vietnam still has casinos.  Surprisingly, so, too, does North Korea.

And then, of course, there is Macau.  The casinos there win more than all of the privately owned casinos in Nevada, New Jersey, Mississippi and the rest of the United States – combined.

Macau, like Hong Kong, is a Special Administrative Region of the People's Republic of China.  The PRC is still technically a communist country, although it would be more accurate to describe it as Marxist: widespread free enterprise capitalism flourishing under a totalitarian, one party dictatorship.

The bureaucrats who run Cuba can find a partial solution to the country's present economic catastrophe and its pending political crisis by looking east – far east.  Cuba needs to pull a Macau. Resort casinos create jobs and bring in much needed revenue.  They could ease Cuba's transition out of the economic stagnation created by pure communism, as they did in China.

Of course, Cuba does not have hundreds of millions of middle-class residents with few other legal outlets for gambling.  In fact, the people are so poor that it is one of the few countries where it actually is to the advantage of casino operators that locals would not be allowed to enter.

But, Cuba already attracts large numbers of tourists from Europe and Latin America; tourism is the nation's leading industry.  The spectacular success of Havana's casinos in the 1950′s show what legal gaming could do, especially once Americans can visit without restrictions.

The major problem is political.  Havana's casinos were symbols of the prior dictator, Fulgencio Batista's, corrupt regime.  When asked about the Americans who ran Cuba's gambling, Fidel said, "We are not only disposed to deport the gangsters, but to shoot them."

In the early 1960s, children could get cartoon trading cards with purchases of Felices [Spanish for happy] Frutas's canned fruit.  They would glue them into their "Album de la Revolucion Cubana."  One shows an angry crowd storming the Deauville Casino, with this label: "El pueblo destroza algunos casinos y casas de juegos," "The people destroy some casinos and gambling houses."

Still, this was half a century ago.  Times change.  Fifty years before Macau became the top casino market in the world, gambling in China was punishable by death. Cuba already has tourist zones, where locals are not allowed to enter, except for work.  Canadian tourists already fly directly to resorts on the southern coast of Cuba, just to go to the beach.  The natural spot for the first Cuban casino-resort is, ironically, the Bay of Pigs.  The scene of the disastrous failed invasion of 1961 is now a thriving resort, especially for Europeans.

But there is another spot, where a casino would be even more of a positive political statement by the Cuban government:  Guantanamo Bay.  It is isolated from the vast majority of the population; at more than 500 miles from Havana, it is actually closer to Miami.  There are beaches and an airport and one of the largest sea ports in the world for cruise ships, if the U.S. will allow free passage. Cuba could set up another tourist zone, with legal gambling, on the Cuban side of Guantanamo Bay.  Local residents would be barred.  But visitors from every other country, including the United States, would be welcome.

Americans can travel to Macau without even having to get a visa.  Wouldn't it be great if Guantanamo Bay became better known for its hotel-casino resorts than for its prison?

© 2013, I. Nelson Rose.  Prof. Rose is recognized as one of the world's leading experts on gambling law, and is a consultant and expert witness for governments, industry and players.  His latest books, Internet Gaming Law (1st and 2nd editions), Blackjack and the Law, Gaming Law: Cases and Materials and Gaming Law in a Nutshell are available through his website, www.GamblingAndTheLaw.com.

 

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Blasts heard in Dera Ismail Khan near Jail road

Posted: 29 Jul 2013 11:52 AM PDT

Pakistan, DI Khan News : Many blasts heard in Dera Ismail Khan near the Central Jail road on Monday, E Pakistan News reported. According to the reports as many as 20 to 21 blasts heard in Dera Ismail...

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Pak women team qualify for ICC World T20 Cup

Posted: 29 Jul 2013 11:41 AM PDT

Cricket News -Pakistan women cricket team recorded a formidable nine-wicket victory against hosts Ireland in the semi-finals of the ICC Women's World Twenty20 Qualifier on Monday in Dublin and...

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Obama welcomes Middle East talks

Posted: 29 Jul 2013 10:55 AM PDT

World News : President Barack Obama welcomed Israeli-Palestinian talks starting in Washington later on Monday but cautioned that a tough path lies ahead. “This is a promising step forward,...

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Abductors of Shahbaz Taseer arrested in Lahore

Posted: 29 Jul 2013 09:42 AM PDT

Pakistan, Lahore News : Four militants which were involve in the abduction of Shahbaz Taseer son of slain Punjab governor Salman Taseer were arrested from Lahore, E Pakistan News reported. The...

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PPP urges PTI to boycott presidential elections 2013

Posted: 29 Jul 2013 09:05 AM PDT

Pakistan, Islamabad News : Chairman PPP Amin Fahim said PTI Chief Imran Khan should also boycott the presidential elections which is scheduled on Tuesday in Pakistan. "Imran Khan should hit a...

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Nigeria Vigilante-extremist clash killed 25

Posted: 29 Jul 2013 02:11 AM PDT

World News : In attacks and reprisals between extremist militant group and vigilantes, at least 25 civilians were killed in northeast Nigeria, a vigilante group said Sunday. It was the first attack...

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Earthquake hits Punjab, northern areas of Pakistan

Posted: 29 Jul 2013 02:09 AM PDT

Pakistan News : Earthquake hits many Punjab areas with magnitude 5.3 in Islamabad, Peshawar and other northern areas of Pakistan. According to the sources, shocks were felt in Islamabad, Peshawar,...

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