Altair: Where Does It End? (6 Viewers)

OP
Bjerknes

Bjerknes

"Top Economist"
Mar 16, 2004
116,151
  • Thread Starter
  • Thread Starter #413
    Aluminum down greatly along with other precious medals, with some losing 40% of their value in the past two weeks. That's not a good sign for the economy.

    Dru, your Sensex market in India is about to fall through. Time to short that ETF.
     

    Martin

    Senior Member
    Dec 31, 2000
    56,913
    The old dollar seems frail at the moment. Maybe you should get yourselves a new currency to play with.

    When Larry Levine helped prepare divorce papers for a client a few years ago, he got paid in mackerel. Once the case ended, he says, "I had a stack of macks."

    Mr. Levine and his client were prisoners in California's Lompoc Federal Correctional Complex. Like other federal inmates around the country, they found a can of mackerel -- the "mack" in prison lingo -- was the standard currency.

    "It's the coin of the realm," says Mark Bailey, who paid Mr. Levine in fish. Mr. Bailey was serving a two-year tax-fraud sentence in connection with a chain of strip clubs he owned. Mr. Levine was serving a nine-year term for drug dealing. Mr. Levine says he used his macks to get his beard trimmed, his clothes pressed and his shoes shined by other prisoners. "A haircut is two macks," he says, as an expected tip for inmates who work in the prison barber shop.

    There's been a mackerel economy in federal prisons since about 2004, former inmates and some prison consultants say. That's when federal prisons prohibited smoking and, by default, the cigarette pack, which was the earlier gold standard.

    Prisoners need a proxy for the dollar because they're not allowed to possess cash. Money they get from prison jobs (which pay a maximum of 40 cents an hour, according to the Federal Bureau of Prisons) or family members goes into commissary accounts that let them buy things such as food and toiletries. After the smokes disappeared, inmates turned to other items on the commissary menu to use as currency.
     

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