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First, you'll need money. How much? Let's say you want to trade one contract of crude oil on the New York Mercantile Exchange (NYMEX). Since you're not a member of the exchange, and no one will really trust your new oil venture, you're going to need to start with at least $10,000 in your margin account (similar to a brokerage account, but it lets you leverage your bets to the hilt) as collateral to comfortably trade one contract. That might sound like a lot for just one contract, but a single contract on NYMEX represents...

Author: /time Magazine | Title: So You Want to Be an Oil Speculator? | 8/10/2009 | See Source »

...Let There Be Light If someone can make a phone call, they can use Dial4Light for on-demand street-lighting...

Author: /time Magazine | Title: Germany's Bright Idea | 8/10/2009 | See Source »

...protect instead of kill, to understand motivations rather than employing brute force, to supplement instead of micromanaging conditions for success - is a step in the right direction. I'm reminded of something I learned in philosophy class at university: one can't always solve intangible problems with tangible solutions. Let's pray and hope that we learn from, as Gelb wrote, "open-ended stalemates" like the Vietnam War. Cheryl C.Y. Lee, Oita, Japan...

Author: /time Magazine | Title: Inbox | 8/10/2009 | See Source »

...open." When pressed as to whether he would be interested in serving as head of the FBI or Homeland Security, he said "I don't comment on jobs that I haven't been offered. We'll see what the future might bring." Los Angeles Mayor Villaraigosa was less reticent: "Let me put it this way, the powers that be would have Bill Bratton at the top of the list for any high-level law enforcement positions that would open up. He?s just the best...

Author: /time Magazine | Title: Why is Los Angeles Losing Its Police Commissioner? | 8/8/2009 | See Source »

...with Kurds and Sunnis. Top military adviser Reese likened the relationship between Iraqi and U.S. soldiers to a "father teaching his kid to ride a bike without training wheels," explaining, "Our hand on the back of the [Iraqis'] seat is holding them back and causing resentment. We need to let go before we both tumble to the ground...

Author: /time Magazine | Title: The Case for Leaving Iraq — Now | 8/8/2009 | See Source »

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