Sunday, August 17, 2008

Story of Stuff (Summary & Review)

A very interesting stuff story by Annie Leonard – The Story of Stuff which tells you how stuff works in 20 minutes video. It is an interesting story and here is my reviews and summary. I do agree with most of her points but not all of them. What is your opinion?

In short this how the whole stuff system works:

  • Extraction -> Production -> Distribution -> Consumption -> Disposal



[Agree]

She also pointed out this system is in fact in crisis because it is a linear system and we live on a finite planet and you can not run a linear system on a finite planet indefinitely. I personally love and agree with this statement.


EXTRACTION

[Agree]
The key point about this extraction is “We’re running out of Resources”. I definitely agree with this. The reason is simply due to fact that we’re using too much stuff that are not necessary. I don’t surprise with few facts that mentioned by her such as 80% of the planet’s original forests are gone, losing 2000 trees a minute in Amazon and etc.


PRODUCTION

[Disagree]
The key point in this section is “Toxics in, Toxics Out”. According to her, we use energy to mix toxic chemicals in with the natural resources to make toxic contaminated products. These contaminated products such as computer peripherals contain BFRs which are very super toxic to our brains and eventually inside our women’s breast milk. She got to be kidding? I don’t think toxic in the CPU is flying around in the air, do you?

[Disagree]
Another ridiculous example is that she says Toxic in the pillow too. Huh? Is this true? I strongly do not believe in it. I think she uses a wrong example to impress us. Yes, Toxic in but not Toxic out to the air especially in final products…

[Agree]
Yes, I will agree with pollution while making the products or when you simply throw away these so-called contaminated products.


DISTRIBUTION

[Confused]
It talks about externalizing the costs and that’s why how we can keep the prices down ($4.99 for a radio). Externalizing the costs which means the company use SOMEONE else money to pay the cost of a product. Example she is giving are people who paid with their loss of their natural resource, paid with the loss of their clean air, with increasing asthma and cancer rates, employees are forced to pay to cover their own health insurance. These people paid for the costs? It is not because of Mass-Production? I’m confused.


CONSUMPTION

[Agree]
The key point that she wants to bring out is, “we consume too much”. We consume over what we suppose to consume and not only that, we’re encouraged to do that to keep the material flowing. Another important point is the “Planned Obsolescence” which I also very agree with this. Some products are really designed in such a way… Another thing is the advertisement which eventually cause “Perceived Obsolescence” that convinces us to throw away stuff that is still perfectly useful. What a crap? Yes, especially fashion too…


DISPOSAL

[Agree]
How many of you recycle your stuff when you want to throw them? Even you want too, not all stuff can be recycled.


CONCLUSION

I’m not sure whether the system is in crisis or not now but eventually it will I believe. It is a matter of time but what we can do is to delay it and not to completely avoid it. Can we? It looks like she believes that is something possible.

The first thing that we want to do if we seriously want to solve this problem or crisis is to reduce the world population. With less population, consumption will be less, resources will be used less too and toxics less too. Isn’t that a very simple equation?

The second thing we can do is to consume what is necessary. This is not only good to the environment but also good for our own personal finance. Don’t you think so?

Sunday, June 01, 2008

Invest Gold in Malaysia through Public Bank

Finally here comes the “easiest way” to invest Gold in Malaysia. Last month in April, Public Bank announced a Gold Investment Account that allows you to purchase the purest available gold commodity.

You’re no longer need to invest Gold indirectly (e.g. mutual funds that invest in Gold). Whether you want to buy gold directly or indirectly in Malaysia is it always not that convenient (to me) although there are few companies offer this. Most importantly (to me) I’m not sure those company is trustable.


Why I Invest in Gold?

(1) I’m inspired by Jamy - a friend of mine. She earns a lot of money investing in commodities and recommends me and most of us to invest in Gold. See the interesting conversation we had in my previous post.

(2) Last year, gold prices jumped 31% since the end of World War II. Maybe one year of history does not really convincing. Let’s look at chart below, 5 years is about increased by 200% and 10 years is about 400%.


Source: goldprice.org

(3) I invest in property, unit trust and stocks but just not commodities. Why don’t I give it a try? :)

(4) With the recent increase of oil price, do you still think that property, unit trust, stock or whatever investment can still overcome the inflation rate? Which investment has higher chances to overcome inflation? If you look at the history of gold price, it seems like the one.


How to invest Gold through Public Bank?
  1. Go to any Public Bank in Malaysia. Press the “Customer Service” button and wait for your turn.
  2. Tell them you want to invest in Gold. They will get your I/C and prepare the Gold Investment Account book for you.
  3. Then, later you need to take this Gold Investment Account to the normal counter (No need to press for a number, just straight away go to any counter) and they will settle everything for you.
  4. If you have Public Bank Saving account, you can buy Gold by transferring money from your saving account or you can just buy in cash.
  5. Finally, you will get this book! This book is exactly same with the normal saving account book. When you want to invest next time, just take this book to normal counter. It is really very that convenient.


Please note that the initial gold investment is 20g. I bought it at RM 99.72 per gram which is RM 1994.4 for 20g investment. The subsequent minimum trading would be 5g.

Remember this is neither a saving account nor the fixed deposit (i.e. FD), this account would not pay any interest and the minimum 2g of gold must be maintained to ensure the account remains active. You can not deposit the physical Gold but you can withdraw the physical gold in denominations of 100g, 500g and 1,000g.

[Service Fee]
RM 10 annual service fee will be ducted from your saving account if your Gold Investment Accounts falls below 10 grams as at year end.

To know more about Gold Investment in Public Bank, check out their official website announcement.

[Updated: 2 June 2008]
I just found out MayBank also offer the similar package - Gold Saving Passbook Account. [Updated: 22 Sept 2011]: The MayBank link for Gold Saving Passbook account is no longer valid and I lazy to update it here.You can try Google it and find it out. It is kind of stupid for website (and some more this is bank) that do not maintain consistent URL and keep changing the URL. See,  Public Bank has no such problem? The link is still valid since 2008 until today...

[Updated: 17 August 2008]
To get the latest Gold Price in RM, you can refer to the public bank website here.

[Updated: 15 Jan 2011]
  1. You can watch the latest gold history trend (1,5 and 10 years) in MYR and USD for  here
  2. Also, you can now perform Gold Trading (sales and purchase) through Public Bank Online (i.e. PBeBank). What you need to do is to enable the "Gold Trading" in your Public Bank online account and you can start buying or selling your gold in grams.
P/S: One final note here, there are no 100% guarantee in investment. It is all depending on the supply and demand. When more and more gold mine to be discovered, the Gold Price will drop. Another risk is the global recession that caused by the U.S. recession which will lead to a fall in demand for commodities. Good luck!


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