> top floors were the least desirable. Poorer residents occupied the upper story.
This remained true in Western cities until elevators became widespread in the late 1800s. In New York city, for example, buildings didn't reach above 6 floors because even the poorest people would not walk up more stairs. Street level was frequently retail space, next floor up might be office space, everything higher was residential. Until Otis showed how to make a safety brake.
The earlier stories are mostly independent (the last few in the series build on previous stories). I would recommend starting with the first book, The Silver Pigs because there is a romance that starts and continues. The central character is what today we would call a "private eye".
About 2 decades ago, there were multiple studies showing that C-level execs who offshored work/production got 18% higher compensation. I'm sure that the same bizjournals are claiming that C-level execs that "embrace" AI are getting similar compensation premiums over anyone who takes a "wait and see" approach. The quantity of AI appearing in bizjournals reminds me of Paul Graham's essay on The Submarine.
Fort Knox doesn't store gold bars that small. A 1kg gold bar is about the size of a cellphone. The ones at Fort Knox are the large trade bars, which weigh about 400 ounces (or 12.4 Kg).
> Size of a standard gold bar: 7 inches x 3 and 5/8 inches x 1 and 3/4 inches.
> Weight of a standard gold bar: approximately 400 ounces or 27.5 pounds.
> But the thing I'm stuck on is the places you can walk into and get cash for even one kilo of gold
My sister had been hoarding our mother's & grandmothers' jewelry for decades. I finally got her to sell off the gold before another of her bad choices in boyfriends stole the rest (last guy took her for about $40k). We took a check for it, but the guy had most of the $70k in cash at hand. No KYC at all. Here in the US.
Sure, selling the sorts of gold grandmothers and crazy uncles horde like rolls of Krugerrand coins, etc and even raw flake amateur prospectors mine out in Nevada is common and probably pretty easy to convert into cash amounts up to a few hundred thousand dollars. But these seem to have been minted gold bars, very likely stamped and serialized.
Admittedly, I don't know that industry, but wouldn't trying to cash even a dozen 1kg minted gold bars with Federal Reserve serial numbers trigger some... questions? Or alternatively, require finding a vendor who explicitly asks no questions (basically a fence for probable stolen or illicit goods). And, even moving the gold a dozen bricks at a time is 25 separate transactions of over $1.7 million each. Are there a lot of places that just keep a couple million in $100 bills on hand for transactions? The largest branch of a national bank in our suburban area of 200K people gets pissy when we go to get $10,000 cash without calling ahead because "we might run out and need to schedule extra cash delivery."
If it's really possible to walk into a "We Buy Gold" place with 12 1kg gold bars and walk out with $1.7M in cash, no questions asked I'm just surprised. As someone who leans moderate libertarian, I don't have a problem with it. I do kind of resent having to fill out a government form (and the implied presumption I'm a criminal) anytime I get $10K of cash at the bank.
> If it's really possible to walk into a "We Buy Gold" place with 12 1kg gold bars and walk out with $1.7M in cash, no questions asked I'm just surprised
the spreads are horrible in most places, outright swindles
> the spreads are horrible in most places, outright swindles
Most of those retail locations will pay 60% of spot. My sister did a lot of research looking for better deals within about 200 miles of us. We negotiated 90% of spot with the guy we sold to. The smelter (who only dealt with the wholesale trade like the guy we sold to) would pay 95% of spot.
This remained true in Western cities until elevators became widespread in the late 1800s. In New York city, for example, buildings didn't reach above 6 floors because even the poorest people would not walk up more stairs. Street level was frequently retail space, next floor up might be office space, everything higher was residential. Until Otis showed how to make a safety brake.
https://en.wikipedia.org/wiki/Elisha_Otis
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