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Secret of the Supreme Court, Misconception of Millionaires, & More!

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Global Insights

Secret of the Supreme Court

Tucked away on the fifth floor of the United States Supreme Court Building lies a secret known to few: the Highest Court in the Land. While the U.S. Supreme Court is renowned as the highest legal authority, its basketball court holds a special place in the hearts of those who work within its hallowed halls.

Originally intended as a spare room for journals, this space underwent a transformation in the 1940s into a workout area. Over time, it evolved into a basketball court, complete with wooden backboards and baskets. Despite its smaller-than-regulation size, the court has seen its fair share of action, with Supreme Court Justices like Byron White and Chief Justice William H. Rehnquist stepping onto the hardwood. Supreme Court Justice Clarence Thomas even tore his ACL in a pickup game back in 1991.

However, it's not just the justices who use the facilities. Clerks, off-duty police officers, and other employees engage in pickup games, while others opt for yoga classes or weightlifting sessions in the adjacent gym.

Yet, amidst the dribbles and squeaks of sneakers, there are rules to be followed. A sign reminds players to respect the court's schedule and not to disrupt court proceedings. After all, even the highest court of the land deserves its peace.

Unfortunately, the Highest Court remains off-limits to the public, adding to its mystique. Yet, the presence of this basketball court within such a revered institution serves as a reminder of the multifaceted nature of the individuals who serve within its walls.

Common Misconception of Millionaires

When it comes to building wealth, we've all heard the famous saying: "Ninety percent of all millionaires become so through owning real estate." This statement, attributed to Andrew Carnegie, a key figure in the American Steel Industry, has been around for ages. But is it the whole truth? Let's dig into the facts.

First, it's important to know that real estate can be a profitable investment, especially in the long term. But it's not the main way people have become millionaires. Only about 10% of all millionaires made most of their wealth from real estate. The majority, a solid 88%, are entrepreneurs. These are people who built their wealth through businesses, investments, and their hard work.

Researcher Thomas Stanley, who studied affluent individuals extensively, found that only around 10% of millionaires got rich mainly from real estate. Similarly, only 10% made their wealth predominantly from stock trading. The vast majority of millionaires made their money through entrepreneurship – owning and running businesses.

The pattern holds in billionaires here as well. Only 1 in 10 billionaires can say real estate was their primary source of wealth. Most billionaires didn't limit themselves to real estate; instead, they built their fortunes by acquiring and managing businesses.

In simple terms, while real estate can be a good investment, it's not the only or even the most common way to become wealthy. Entrepreneurship, which involves starting and running businesses, is the most common path to financial success. So, as you embark on your journey to financial prosperity, keep in mind that the road to wealth often leads through the world of business and entrepreneurship.

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Russian Assets

Executives from France, Germany, and the European Central Bank are worried about using Russian assets to help Ukraine. They fear it could make Russia target European assets in its territory. This might also affect trust in Western currencies, leading some countries to avoid dealing with the European financial system. Russian officials, like Finance Minister Anton Siluanov, have warned of strong reactions if frozen Russian assets abroad are used.

United Nations

Israeli forces fatally shot over 100 Palestinians on Thursday while they were waiting for an aid delivery. A source at the United Nations stated that the United States declined to back a proposed press statement by the UN Security Council. The statement aimed to express concern over the deaths of the Palestinians. The source explained that the US hesitated because it didn't want to "acknowledge that Palestinians were killed, rather than simply died."

Bitcoin

On Thursday, Bitcoin seemed set for its largest monthly gain in over three years and was nearing a record high. This was fueled by an increase in cash flowing into exchange-traded funds. The cryptocurrency was up 3.4% at $62,205, having reached $63,933 overnight, its highest level since late 2021.

History & Culture - Tobacco in Cuba

In 1492, when Spanish sailors explored Cuba, they discovered the beginnings of what would become a remarkable tobacco legacy. The locals, using "firebrands of weeds," unknowingly started a tradition that would evolve into the world of Cuban cigars.

Spanish settlers quickly embraced tobacco cultivation, leading to the establishment of Cuba's first cigar factories in the early 1800s. Today, about 100 million premium cigars are carefully handcrafted each year, following time-tested methods passed down through generations.

In Havana's cigar factories, a unique tradition of professional readers, or lectores, began in the 1800s. They read aloud to entertain and share news with the tobacco workers, adding a distinctive touch to the cigar-making process.

Tobacco arrived in Cuba around 2,000 to 3,000 B.C., likely from South America. Spanish influence, particularly through South American colonies, played a significant role in shaping Cuba's cigar industry during the 1800s.

Facing challenges, including a dip in cigar popularity in the 1920s, Cuba persevered in its commitment to hand-rolled cigars. In 1960, Fidel Castro's leadership saw the nationalization of the industry, ensuring quality control for Cuban cigars on the global stage.

Fast Facts

• It’s a myth that you only use 10 percent of your brain. You use all of it.

• Since 1450 there have been six major world reserve currency periods. Portugal (1450–1530), Spain (1530–1640), Netherlands (1640–1720), France (1720–1815), Great Britain (1815–1920), and the United States from 1921 to today

• Proper nutrition can increase job productivity by 25%

Nothing is more exhausting than the task that’s never started.

–GRETCHEN RUBIN