100 buses long: Scientists map one of the world's largest known coral colonies
from Phys.org
A huge coral colony stretching more than 1.5 kilometers (0.93 miles) along the outer reef of the Cocos (Keeling) Islands has been identified by researchers, making it one of the largest known coral colonies ever recorded.
explained
The Cocos (Keeling) Islands (Cocos Islands Malay: Pulu Kokos [Keeling]), officially the Territory of Cocos (Keeling) Islands (Cocos Islands Malay: Wilayah Kepulauan Kokos [Keeling]), are an Australian external territory located in the Indian Ocean, comprising a small archipelago approximately midway between Australia and Sri Lanka and relatively close to the Indonesian island of Sumatra. The territory's dual name (official since the islands' incorporation into Australia in 1955) reflects that the islands have historically been known as either the Cocos Islands or the Keeling Islands, the latter of which is still a common short name.
It shows that individual coral colonies can reach enormous scale, which matters for understanding reef resilience. It also provides a benchmark for how large these organisms can get.
In 1909 D. W. Griffith made a 14-minute film about a speculator who corners the wheat market and doubles the price of bread. A farmer sows his field while a 'Wheat King' gambles in the Chicago wheat pit; bakers raise the loaf from five cents to ten and the poor line up for bread. Griffith cut back and forth between the farm, the feast and the breadline, a technique called parallel editing, so audiences saw both ends of the economy at once. The film drew on Frank Norris's stories and on a real scheme: months earlier Chicago financier James Patten had cornered wheat, sent bread prices up and made about $5 million, roughly $185 million today.
how it works
To corner a market, a trader buys up most of the available supply and the futures contracts that promise more. Anyone who has to deliver the commodity must then buy from the cornerer at whatever price is demanded. The trader profits until the stock is released or the scheme collapses.
so what
A century on, it still shows how markets can be rigged by someone who controls supply, and how the people at either end, farmers and eaters, pay for it. It also helped establish editing as a way to argue a point, not just tell a story.
the bigger pattern
Corners have recurred whenever supply could be locked up, from the Hunt brothers' attempt on silver in 1979 to 1980 to the 'Black Friday' gold panic of 1869. Many such schemes end by collapsing, and the response is often new rules on speculation.
fun fact
In the film the Wheat King dies by falling into a grain elevator and being buried in the wheat he hoarded, an ending borrowed from Norris's novel The Octopus.
more on this
background
A Corner in Wheat is a 1909 American short silent film which tells of a greedy tycoon who tries to corner the market in wheat, destroying the lives of the people who can no longer afford to buy bread. It was directed by D. W. Griffith and adapted by Griffith and Frank E. Woods from a novel and a short story by Frank Norris, titled The Pit and "A Deal in Wheat". Griffith may have had a real-life inspiration: six months earlier, James A. Patten had actually cornered the market in wheat, and in some cities, the price of bread doubled from five cents to ten, just as in the movie.
In 1994, A Corner in Wheat was selected for preservation in the United States National Film Registry by the Library of Congress as being "culturally, historically, or aesthetically significant".
Usman Khawaja refuses to answer Sandpapergate question about Pat Cummins | 7.30
from ABC News In-depth
One of the darkest days in Australia's sporting history has been dragged back into the spotlight.
A new autobiography by former Test cricketer Usman Khawaja has made explosive revelations about the Australian Test team's 2018 ball-tampering saga in South Africa.
7.30 host Sarah Ferguson speaks to Usman Khawaja.
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