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Showing content with the highest reputation on 08/23/2013 in all areas

  1. For all the people in this world who have been working so hard to push God out of it.......He won't be in Hell either .
    5 points
  2. Nope he's off to Reno to assist with Tier 3 cashouts
    5 points
  3. When does this stop. This country is headed for a major racial uprising if the current activities continue. Where are Sharpton and Jackson while this is happening? Is this just another senseless crime because it was a white person who died? If it was a black person killed these guys would be up in arms going nuts screaming hate crime. Since it is the other way around, they sit back on their racist tails and hope for a white person to kill a black person so they can get back up on their stands and stir the pot. Why don't they stand up NOW and tell their people to stop this crap. That would not benefit those guys. They need black people to die so they can ride in on their racist caravan and rile up anyone who listens to their rhetoric. We need our PRESIDENT to stand up and put a stop to this. I may have missed it, but I don't remember hearing Obummer saying anything about these murders. Where is his a$$ while this happening? I am so tired of reading about one killing after another. Maybe we need immediate capitol punishment enacted. Something need to happen, not soon, but NOW. Spokane today, your neighborhood tomorrow?
    4 points
  4. CNN. Broadcasting While Singing 'Frankie's Britches Are Falling Down - Falling Down' ! Frank26 » August 22nd, 2013, Family............ Stay in constant prayer. As for NYSE........ The last time I studied this was what happened in 1933. Unless we are at war or being invaded............ Something is happening with world currencies. IMO............... KTFA, Frank ************ walkongstick wrote on August 22nd, 2013, Urgent and reliable sources ... Family-Maliki escape to Britain ...!! http://www.chakooch.com/news.php?action=view&id=3475 Revealed reliable sources from inside the Green Zone, the family-Maliki fled to Britain under the supervision of his brother Hussein Hadi Ahmed Hussein al-Maliki, known as (Abu Rehab), a nephew of al-Maliki and private secretary and supervisor of the members of the protections uncle Nouri al-Maliki and is married to Isra girl major Prime Minister .... The sources confirmed to Jakoj ..... that the family of al-Maliki, consisting of his wife (or Isra) and her daughters, Isra and Hawraa married to his brother in law and protect Yasser Ckal and built micro left Iraq to Britain during the hours preceding the previous Lama son (Ahmed) emphasized the sources he disappeared days ago, and now does not appear in the office of his father, though officially appointed as an Associate Director of the Private Office of the owners ..... Abou Rehab is accused of corruption and kickbacks and great deals is blackmailing businessmen and receipt (Alcolmhnat) any commissions them against facilitating the process of signing his uncle al-Maliki on some issues and things that concerning the work contracts of some businessmen, the day no (Abou Rehab) the owners of wealth and property in the city of Karbala since bought a number of properties near the shrines of Imams Hussein and Abbas peace be upon them billions of dinars after that in 2003 baker in Syria either Yasser Ckal is from employers precedents already and that he was sentenced on charges of Howrah is married the daughter of al-Maliki Central http://www.chakooch.com/news.php?action=view&id=3475 ************* CVBC: If I recall correctly...Didn't someone (who shall remain nameless ), say that when Maliki is gone, then the RV process would be accelerated? Just thinking out loud... ************* Frank26: Oh yes....... Indeed.BUT ......... MORE IMPORTANT .........Is the fact that I told You 1.5 years ago that WHEN M is removed he will be sent to ............. "LONDON". Hope You do. Told my TEAMS 2 weeks ago that ..........." London Bridge is calling down". Take care ......... KTFA, Frank... ************** RichieC: Whoa, Nellie!! If this is true, this is fantastic news. Also, have you noticed what the next UN operational rate of exchange publish date is? September 1. Yet another clue leading to that date for RV. It’s also a Sunday. I looked over the last 8 months and the previous planned op rates of exchange dates and we have not had a proposed date on a Sunday since June 30, 2013. Seems to me like a lot of items point to 9/1/13. RV date while the banks are closed would make good sense so they could open the banks on Monday AM for cash-in.
    4 points
  5. India and Iraq consider local currencies as medium of exchange after rupee decline PTI : New Delhi, Fri Aug 23 2013, 15:55 hrs Iraq PM Nouri al-Maliki is currently in India for discussions to enhnace trade between the two countries (IE photo) Faced with declining value of rupee and a volatile exchange rate, India is exploring the possibility of bilateral trade with Iraq in domestic currencies, Commerce and Industry Minister Anand Sharma said on Friday. The issue of payment for trade in local currencies will be discussed during the bilateral meetings between visiting Iraqi Prime Minister Nouri Kamil Al-Maliki and Indian Ministers. "We are exploring possibilities (of payment in local currencies, dinar and rupee) as we have substantial import. We will definitely be discussing this issue," Sharma told reporters at New Delhi. India-Iraq bilateral trade currently stands at around USD 21 billion. Speaking at function organised by industry chambers, visiting Prime Minister Al-Maliki invited Indian industry to take advantage of the business opportunities in different sectors like agriculture, health and education in Iraq. "I invite Indian companies to invest in Iraq. There are great opportunities and wide avenues in different sectors," he added. Payment for trade in local currencies will to some extent help India in dealing with the exchange rate volatility and declining value of rupee, which on Thursday slipped to a lifetime low of 65.56 against the US dollar intra-day. http://www.indianexpress.com/news/-/1159149/
    3 points
  6. I love it, I love it, I love it!! Here is my take on this. Please correct me where you see opportunities to educate. I am by no means a economist of any measure but believe my thinking is right on. India's currency is in trouble because it is declining in value against mainstream currencies (ie. the USD). This type of volatility is not good for commerce ESPECIALLY when it comes to large scale consumables like energy. This is a perfect opportunity for Iraq to "help India out". Recall the articles that expressed India turning away from Iran and toward Iraq for its energy needs (oil)? Well this has brought major business to the country of Iraq as they edged Iran in the market-war. Iran has been forced to concede its once dominant position in the oil game. Iraq wants to solidify this business from India and it looks as if will do just that should these negotiations pan out. So this is how it will work. After negotiations between the central banks of both countries, imports will be nominated in the exporting country's local currency. In other words the Iraqi Dinar will become more desirable for trade negotiations instead of USD for import transactions into India. In this way India does not have to fear waking up tomorrow and discovering that their importers must pay more for oil than they did on yesterday due to a change in their currecy's value against the internationally denominated USD. They will be able to stabilize their import prices on oil through negotiations betweeen the central banks of Iraq and India. Iraq on the other hand encourages India to invest in Iraq which creates even a greater win for the country. (In a microcosmic type of way it is similar to what the United States did with Saudi Arabia to create the almight petro dollar. SA would force importers of oil to pay using the USD and then SA would turn around and invest that money back into the US.) sorry for getting off topic here So if this pans out I think it is a strong move for Iraq. Thoughts? ps. here is another corroborating article on why Iraq wants to secure this market share of oil exports to India.
    3 points
  7. I agree SXS Arm your self. Get the proper training for that firearm Then arm yourself with the proper mind set. Your only a victim if you let yourself be a victim . I'm totally against any kind of race war I have always been color blind. I will pull my weapon and fire with extreme prejudice at any person or persons Black/white/latino/indian/chinese/japanese or space alien that tries to hurt me or my family
    3 points
  8. ***/// We The People have no President. There is a progressive tool in Our WHITE HOUSE. He MUST adhere to the FORWARD AGENDA of his masters. He is an enslaved tool of powerful entities hard at work to destroy this Republic and bring Her People to their knees to also serve them as he does. His schedule is comprised of past times normally delegated to a stooge Vice President. HE is NOT in CONTROL. His MASTERS are. His words have always been false... and LIES. His actions are those tasks assigned to him by his masters. Look at what evil they have already accomplished here using HIM to do it to US.
    3 points
  9. +1 gals Dogs are truly mans best freind Best security in the world.. Even if they are just yappers and not biters they will give you a heads up as to whose messing around your perimeter. But Ole dog here prefers the biters He he As far as this story in this post. It sickens me. Underage or not anyone who would do this deserves to die.
    3 points
  10. good good dayyy yota ,,, looks like someone who post here a lot on vets area , has said this a couple times " Iraq is in the crossroads of the arab region , all roads cut through , or fly over , Iraq ! with the santions on iran , the turmoil in Syria, and Egypt , and trouble in the upper area`s around turkey , Iraq currency is wayyyy under valued, you know that same person { on vets site } has said 2 to 1 value I wonder who that guy is ? hehehehe ... from the way this article reads this guy in the article sounds like he is about to put a lot of heat on the c.b.i. and the currency policies , -----> get this dinar value up to where you have promised us ! { he speaks for Iraq } mmm 1 2014 ?
    3 points
  11. Hey Al Sharpton.......where is your outcry about this.
    3 points
  12. I disagree... all it will take is a marginal amount of faith, which will easily be earned when they are pumping out enough oil to undercut the competition and they will rocket to the top.
    3 points
  13. Love this Japanese Doctor: Q: Doctor, I've heard that cardiovasular excercise can prolong life. Is this true? A: Heart only good for so many beats and that it.....Don't waste time on excercise, everything wear out eventually. Speeding up heart not make you live longer, it like saying you extend life of car by driving faster. Want to live longer....take nap. Q: Should i reduce my alcohol intake? A: Oh, no. Wine made from fruit, fruit good, Brandy distilled wine, that mean they take water out of fruit a bit so you get even more goodness. Beer made from grain to......bottom up Q: What are some of the advantages of participating in a regular exercise program? A: You heard of no pain no gain..... Be happy..... feel good.... sit down Q: Aren't fried foods bad for you? A: You not listening...Food fried in vegetable oil, you get more vegetable Q: Is swimming good for you figure? A: If swimming good for you.....explain whale to me Life should not be a journey to the grave with the intention of arriving safely with a well preserved body.....but slide in sideways....Chardonnay in one hand....Chocolate in the other.....body thoroughly used up....totally worn out and screaming.....WOO-HOO what a ride!!!!!!
    2 points
  14. Is this the story to watch as the Dinar becomes internationally traded? $21 Billion USD is a staggaring amount of trade with India!
    2 points
  15. LOL...Heavyduty053 - good to see you brother (+)...! PS: thanks for the original post D.T.
    2 points
  16. The role of gold as money, 42 years after Richard Nixon ended it... LAST WEEK we closed up the house and began our trip back to the US, writes Bill Bonner in his Daily Reckoning. Next morning we were in Paris. But the City of Lights was as empty and lifeless as a Senate hearing. It was a holiday in France: the day of the Assumption of the Blessed Virgin Mary...on which the mother of Jesus was 'assumed' into the company of angels, archangels, saints, seraphim, cherubim and whatever one finds in heaven. If that weren't enough, it was the 42nd anniversary of the day on which our money system became faith-based too. We'll come back to that in a moment. Meantime Wall Street stirred. The Dow fell. Gold prices rose. We believe these are portents of coming trends. The bond market has topped out. The stock market has topped out. Gold has bottomed. Stay tuned for confirmation...or further guesswork. Back to the Feast of the Assumption...and other things... Did Mary really ascend to heaven on that day? Was she really a virgin? Did she really give birth to the son of God? You need faith to believe such things. Likewise, you need faith to believe that a piece of green paper is 'money'. You are also supposed to believe its managers will make sure this 'money' holds its buying power...even as they do their damnedest to undermine it. But to believe that you need more than faith. You need a full frontal lobotomy. Ultimately, all money systems are based on faith, but some require more faith than others. Even a barter system requires barterers to have some level of trust in each other. But contrary to popular belief, barter was never a basis for trade for settled groups of people. Instead, early forms of 'money' were webs of credit, says anthropologist David Graeber in his book Debt: The First 5,000 Years. This credit-based system worked well enough, as long as the community was small. You could remember who owed what to whom. And you knew, too, whether you could trust your counterparties to make good. Faith was reality-based. Today's money system – put into place by Richard Milhous Nixon on 15 August 1971 – is essentially a modern form of a credit-based system. It is based on faith in the government and its functionaries. And in the economics profession. And in the financial industry. And in the Dollar. We have been following a conversation between colleagues Justice Litle and Rob Marstrand, two smart analysts who work for our new publishing business, Bonner & Partners. On the surface, the subject of the conversation is how the European Union can get itself out of its economic slump. As you can see, Europe is looking better, but not exactly rosy. Britain's The Telegraph is on the story: What to do? What to expect?"The immediate threat of banking and fiscal meltdown in the southern periphery has receded, and after one of the longest recessions on record – six successive quarters of economic contraction – there are even tentative signs of recovery. "[but] unemployment, already at intolerable levels in some Euro-zone countries, is still rising and money growth remains exceptionally depressed. "Nor is there any end in sight to credit destruction, with deeply negative implications for SMEs and future jobs creation. According to a new report by Royal Bank of Scotland, Europe's banks need to shed a further €3.2 trillion of assets (roughly equal to annual German GDP) to comply with new international capital standards. "IMF research cited last week by the European Central Bank puts the Euro zone's "structural unemployment" rate – that is the unemployment that won't go away even after the economy returns to normal – at a staggering 10.1%, up from 7.4% before the crisis. If correct, it means that any European recovery will be a largely jobless one." As Justice points out, it's a real brain bender. Neither austerity nor stimulus work as advertised. Each comes with problems attached. And in modern democracies – not to mention a collection of 27 sovereign nations with 24 different official languages – the authorities' hands are tied. They are limited by what the public will accept. The public needs to have faith too. Otherwise, it won't go along. To paraphrase the positions: "The problem is debt; adding more debt does not help," says Rob. "Yes, but when you try to reduce debt by cutting government spending, the economy shrinks, deficits rise...and you get more debt relative to GDP, which is ultimately what matters," answers Justice. Justice goes on to point out that in the 1930s austerity budgets led to social chaos, which opened the door to Adolf Hitler in Germany and the militarists in Japan. Who's right? Who's wrong? Well, there's the deeper problem. Who can know what policy will lead to what outcome? No one! There are too many questions. Economies and markets are complex dynamic systems that often obscure cause and effect. We tend to think in post-Enlightenment rational terms...and step-by-step logic. But in systems such as cultures, economies and markets, this kind of logic flounders. In a primitive, tribal society you can have a fair idea of what's what. You can operate a credit-based system because it's fairly easy to know who's a good credit risk and who isn't. But when you are operating in a complex, modern economy you don't know much of anything. All you have are questions. But your questions will be answered. A credit-based monetary system will continue to add credit until faith gives way...and the whole system blows up. Then the asset everyone will want most is the asset about which you don't need to ask questions: gold. Gold owes nothing to nobody. Gold is the money that requires the least faith.
    2 points
  17. If I had a grandfather (or a father), I'm sure he'd look just like Delbert Belton. RIP Mr. Belton, American Hero. 429
    2 points
  18. Brother I have come to really like you. Your not a conservative like myself but I have found that for the most part your a very honest person. Until now. You question how it is that O is dividing us as Americans? As a President if he were to do that then he would not be President, that's what you stated. And if he, or his handlers, were blatantly doing so you would be correct. He would be run out of town on a rail. However, I do know that your intelligent enough to know that when O makes comments like, " Treyvon could have been my son", that is a divisive statement. No O can't be blatant in his words, but he definitely does make divisive remarks. However small they may be. And that's not even beginning to touch his policies. There is a real tragedy here, and that is because of Mr. O's policies it seems much less likely that America will ever elect another black man for a long time. Furthermore, I don't believe that It's O who is the man behind the curtain here. There are unseen forces that are attempting to destroy this country and, YES, it seems clear that they are attempting to use race as the instigating factor. Has anyone here really thought about the ramifications of such a thing? America has been for some time now being invaded by people of third world nations. And were America to go down the road of a race war I believe that it would make the civil war of the 1860's look like a Sunday school picnic. All the while allowing the government to enact whatever laws they seem fit to gain control of the situation. Which is exactly why TPTB want such a war. Wake up America, whether you're black or white or Hispanic or whatever nationality you claim, YOU ARE AN AMERICAN!!!!!!!!!!! And if we don't all learn to love one another or at the least attempt to get along with each other then you can bet we will destroy ourselves. And the only real winner or such a war will be THE UNITED STATES GOVERNMENT. They know this full well and they are attempting to use race as a means to enact the most severest draconian laws since Hitler. When I look at a man I don't see black, white, Hispanic, or even Arab I see a man. And my only concern with that man is are you my friend. And of course the condition of his soul. But that's another story. I can assure everyone here on DV and in this country that the one thing that terrifies the government the most is if we ALL as AMERICANS UNITE and refuse to give them what they want. And I probably just got on the nsa watch list for speaking the truth. So with pleasure here's to them
    2 points
  19. There was an earthquake in mexico city yesterday does anyone think that has anything to do with an rv? I dont get why any world or financial event people think has something to do with an rv. Even banks doing routine scheduled maintenance to their site gets rv comments. The nasdaq thing was either a technical difficulty, hacker or terrorism nothing to do with rv
    2 points
  20. I think Obutt is wanting race war because then he can start martial law.
    2 points
  21. the dirty little secret of our system is that jail cells are based on third grade reading levels...it costs about $8000/year to educate a student it takes over $40,000/year to incarcerate them...when you follow the money...there is enough blame to go around as to how these monsters are created....and I agree these folks deserve the ultimate penalty but as the Scripture says... "....the curse causeless shall not come...." In 2003 after a tremendous battle we got the doors open on our "inner city" charter school....in just two years we were a four star school....by the end of our charter we raised the children's grade levels 40% in match 30% in reading (our charter promise was 10% across the board)....we bested the poor little rich children from a neighboring school in a head to head academic competition...and our charter was NOT renewed because they did NOT like our facility...WHY because we had to use a temporary facility when the banks got cold feet about renovation of our own building.... WHY because my home was destroyed and church gutted when it became public knowledge that the charter would be awarded to us and BTW the thieves (white antique dealers...NOT inner city thugs) got a slap on the wrist by the same court that promised us MAJOR restitution...the same court system that will jail an inner city kid for pot and free a suburbanite for cocaine..... parents and children alike wept when they closed our school KNOWING they would be returned to a failing school where drugs were being sold on campus...a school that was failing them when I WAS IN SCHOOL !!! Which is why I came back to give back in the first place there are ROOT causes behind the self-fulfilling prophecy that typifies the inner city reality... INDEED ........THE CURSE CAUSELESS SHALL NOT COME.... EVEN SO COME QUICKLY LORD JESUS !!!
    2 points
  22. How do they expect the dinar to stay fixed against the foreign currencies, of course its going to fluctuate. So, let it float. A fixed exchange-rate system (also known as pegged exchange rate system) is a currency system in which governments try to maintain their currency value constant against one another.[1] In a fixed exchange-rate system, a country’s government decides the worth of its currency in terms of either a fixed weight of gold, a fixed amount of another currency or a basket of other currencies. The central bank of a country remains committed at all times to buy and sell its currency at a fixed price. The central bank provides foreign currency needed to finance payments imbalances. History[edit source | editbeta]The gold standard or gold exchange standard of fixed exchange rates prevailed from about 1870 to 1914, before which many countries followed bimetallism.[3] The period between the two world wars was transitory, with the Bretton Woods system emerging as the new fixed exchange rate regime in the aftermath of World War II. It was formed with an intent to rebuild war-ravaged nations after World War II through a series of currency stabilization programs and infrastructure loans.[4] The early 1970s witnessed the breakdown of the system and its replacement by a mixture of fluctuating and fixed exchange rates.[5] Chronology[edit source | editbeta]Timeline of the fixed exchange rate system:[6] 1880–1914 Classical gold standard period April 1925 United Kingdom returns to gold standard October 1929 United States stock market crashes September 1931 United Kingdom abandons gold standard July 1944 Bretton Woods conference March 1947 International Monetary Fund comes into being August 1971 United States suspends convertibility of dollar into gold – Bretton Woods system collapses December 1971 Smithsonian Agreement March 1972 European snake with 2.25% band of fluctuation allowed March 1973 Managed float regime comes into being April 1978 Jamaica Accords take effect September 1985 Plaza accord September 1992 United Kingdom and Italy abandon Exchange Rate Mechanism (ERM) August 1993 European Monetary System allows ±15% fluctuation in exchange rates Gold standard[edit source | editbeta]The earliest establishment of a gold standard was in the United Kingdom in 1821 followed by Australia in 1852 and Canada in 1853. Under this system, the external value of all currencies was denominated in terms of gold with central banks ready to buy and sell unlimited quantities of gold at the fixed price. Each central bank maintained gold reserves as their official reserve asset.[7] For example, during the “classical” gold standard period (1879–1914), the U.S. dollar was defined as 0.048 troy oz. of pure gold[8] Bretton Woods system[edit source | editbeta]Following the Second World War, the Bretton Woods system (1944–1973) replaced gold with the US$ as the official reserve asset. The regime intended to combine binding legal obligations with multilateral decision-making through the International Monetary Fund (IMF). The rules of this system were set forth in the articles of agreement of the IMF and the International Bank for Reconstruction and Development. The system was a monetary order intended to govern currency relations among sovereign states, with the 44 member countries required to establish a parity of their national currencies in terms of the U.S. dollar and to maintain exchange rates within 1% of parity (a "band") by intervening in their foreign exchange markets(that is, buying or selling foreign money). The U.S. dollar was the only currency strong enough to meet the rising demands for international currency transactions, and so the United States agreed both to link the dollar to gold at the rate of $35 per ounce of gold and to convert dollars into gold at that price.[6] Due to concerns about America's rapidly deteriorating payments situation and massive flight of liquid capital from the U.S., President Richard Nixon suspended the convertibility of the dollar into gold on 15 August 1971. In December 1971, the Smithsonian Agreement paved the way for the increase in the value of the dollar price of gold from $35.50 $38 an ounce. Speculation against the dollar in March 1973 led to the birth of the independent float, thus effectively terminating the Bretton Woods system.[6] Current monetary regimes[edit source | editbeta]Since March 1973, the floating exchange rate has been followed and formally recognised by the Jamaica accord of 1978. Nations still need international reserves in order to intervene in foreign exchange marketsto balance short-run fluctuations in exchange rates.[6] The prevailing exchange rate regime is in fact often considered as a revival of the Bretton Woods policies, namely Bretton Woods II.[9] Mechanism[edit source | editbeta] Fig.1: Mechanism of fixed exchange-rate system Under this system, the central bank first announces a fixed exchange-rate for the currency and then agrees to buy and sell the domestic currency at this value. The market equilibrium exchange rate is the rate at which supply and demand will be equal, i.e., markets will clear. In a flexible exchange rate system, this is the spot rate. In a fixed exchange-rate system, the pre-announced rate may not coincide with the market equilibrium exchange rate. The foreign central banks maintain reserves of foreign currencies and gold which they can sell in order to intervene in the foreign exchange market to make up the excess demand or take up the excess supply [2] The demand for foreign exchange is derived from the domestic demand for foreign goods, services, and financial assets. The supply of foreign exchange is similarly derived from the foreign demand for goods, services, and financial assets coming from the home country. Fixed exchange-rates are not permitted to fluctuate freely or respond to daily changes in demand and supply. The government fixes the exchange value of the currency. For example, the European Central Bank (ECB) may fix its exchange rate at €1 = $1 (assuming that the euro follows the fixed exchange-rate). This is the central value or par value of the euro. Upper and lower limits for the movement of the currency are imposed, beyond which variations in the exchange rate are not permitted. The "band" or "spread" in Fig.1 is €0.4 (from €1.2 to €0.8).[10] Excess demand for dollars[edit source | editbeta] Fig.2: Excess demand for dollars Fig.2 describes the excess demand for dollars. This is a situation where domestic demand for foreign goods, services, and financial assets exceeds the foreign demand for goods, services, and financial assets from the European Union. If the demand for dollar rises from DD to D'D', excess demand is created to the extent of cd. The ECB will sell cd dollars in exchange for euros to maintain the limit within the band. Under a floating exchange rate system, equilibrium would have been achieved at e. When the ECB sells dollars in this manner, its official dollar reserves decline and domestic money supplyshrinks. To prevent this, the ECB may purchase government bonds and thus meet the shortfall in money supply. This is called sterilized intervention in the foreign exchange market. When the ECB starts running out of reserves, it may also devalue the euro in order to reduce the excess demand for dollars, i.e., narrow the gap between the equilibrium and fixed rates. Excess supply of dollars[edit source | editbeta] Fig.3: Excess supply of dollars Fig.3 describes the excess supply of dollars. This is a situation where the foreign demand for goods, services, and financial assets from the European Union exceeds the European demand for foreign goods, services, and financial assets. If the supply of dollars rises from SS to S'S', excess supply is created to the extent of ab. The ECB will buy ab dollars in exchange for euros to maintain the limit within the band. Under a floating exchange rate system, equilibrium would again have been achieved at e. When the ECB buys dollars in this manner, its official dollar reserves increase and domestic money supply expands, which may lead to inflation. To prevent this, the ECB may sell government bonds ans thus counter the rise in money supply. When the ECB starts accumulating excess reserves, it may also revalue the euro in order to reduce the excess supply of dollars, i.e., narrow the gap between the equilibrium and fixed rates. This is the opposite of devaluation. Types of fixed exchange rate systems[edit source | editbeta] The gold standard[edit source | editbeta]Under the gold standard, a country’s government declares that it will exchange its currency for a certain weight in gold. In a pure gold standard, a country’s government declares that it will freely exchange currency for actual gold at the designated exchange rate. This "rule of exchange” allows anyone to go the central bank and exchange coins or currency for with pure gold or vice versa. The gold standard works on the assumption that there are no restrictions on capital movements or export of gold by private citizens across countries. Because the central bank must always be prepared to give out gold in exchange for coin and currency upon demand, it must maintain gold reserves. Thus, this system ensures that the exchange rate between currencies remains fixed. For example, under this standard, a £1 gold coin in the United Kingdom contained 113.0016 grains of pure gold, while a $1 gold coin in the United States contained 23.22 grains. The mint parity or the exchange rate was thus: R = $/£ = 113.0016/23.22 = 4.87.[6] The main argument in favour of the gold standard is that it ties the world price level to the world supply of gold, thus preventing inflation unless there is a gold discovery (a gold rush, for example). Price specie flow mechanism[edit source | editbeta]The automatic adjustment mechanism under the gold standard is the price specie flow mechanism, which operates so as to correct any balance of payments disequilibria and adjust to shocks or changes. This mechanism was originally introduced by Richard Cantillon and later discussed by David Hume in 1752 to refute the mercantilist doctrines and emphasize that nations could not continuously accumulate gold by exporting more than their imports. The assumptions of this mechanism are: Prices are flexible All transactions take place in gold There is a fixed supply of gold in the world Gold coins are minted at a fixed parity in each country There are no banks and no capital flows Adjustment under a gold standard involves the flow of gold between countries resulting in equalization of prices satisfying purchasing power parity, and/or equalization of rates of return on assets satisfyinginterest rate parity at the current fixed exchange rate. Under the gold standard, each country's money supply consisted of either gold or paper currency backed by gold. Money supply would hence fall in the deficit nation and rise in the surplus nation. Consequently, internal prices would fall in the deficit nation and rise in the surplus nation, making the exports of the deficit nation more competitive than those of the surplus nations. The deficit nation's exports would be encouraged and the imports would be discouraged till the deficit in the balance of payments was eliminated.[11] In brief: Deficit nation: Lower money supply → Lower internal prices → More exports, less imports → Elimination of deficit Surplus nation: Higher money supply → Higher internal prices → Less exports, more imports → Elimination of surplus Reserve currency standard[edit source | editbeta]In a reserve currency system, the currency of another country performs the functions that gold has in a gold standard. A country fixes its own currency value to a unit of another country’s currency, generally a currency that is prominently used in international transactions or is the currency of a major trading partner. For example, suppose India decided to fix its currency to the dollar at the exchange rate E₹/$ = 45.0. To maintain this fixed exchange rate, the Reserve Bank of India would need to hold dollars on reserve and stand ready to exchange rupees for dollars (or dollars for rupees) on demand at the specified exchange rate. In the gold standard the central bank held gold to exchange for its own currency, with a reserve currency standard it must hold a stock of the reserve currency. Currency board arrangements are the most widespread means of fixed exchange rates. Under this, a nation rigidly pegs its currency to a foreign currency, Special drawing rights (SDR) or a basket of currencies. The central bank's role in the country's monetary policy is therefore minimal. CBAs have been operational in many nations like Hong Kong (since 1983); Argentina (1991 to 2001); Estonia (1992 to 2010); Lithuania (since 1994); Bosnia and Herzegovina (since 1997); Bulgaria (since 1997); Bermuda (since 1972); Denmark (since 1945); Brunei (since 1967) [12] Gold exchange standard[edit source | editbeta]The fixed exchange rate system set up after World War II was a gold-exchange standard, as was the system that prevailed between 1920 and the early 1930s.[13] A gold exchange standard is a mixture of a reserve currency standard and a gold standard. Its characteristics are as follows: All non-reserve countries agree to fix their exchange rates to the chosen reserve at some announced rate and hold a stock of reserve currency assets. The reserve currency country fixes its currency value to a fixed weight in gold and agrees to exchange on demand its own currency for gold with other central banks within the system, upon demand. Unlike the gold standard, the central bank of the reserve country does not exchange gold for currency with the general public, only with other central banks. Hybrid exchange rate systems[edit source | editbeta]The current state of foreign exchange markets does not allow for the rigid system of fixed exchange rates. At the same time, freely floating exchange rates expose a country to volatility in exchange rates. Hybrid exchange rate systems have evolved in order to combine the characteristics features of fixed and flexible exchange rate systems. They allow fluctuation of the exchange rates without completely exposing the currency to the flexibility of a free float. Basket-of-currencies[edit source | editbeta]Countries often have several important trading partners or are apprehensive of a particular currency being too volatile over an extended period of time. They can thus choose to peg their currency to a weighted average of several currencies (also known as a currency basket) . For example, a composite currency may be created consisting of hundred rupees, 100 Japanese yen and one U.S. dollar the country creating this composite would then need to maintain reserves in one or more of these currencies to satisfy excess demand or supply of its currency in the foreign exchange market. A popular and widely used composite currency is the SDR, which is a composite currency created by theInternational Monetary Fund (IMF), consisting of a fixed quantity of U.S. dollars, euros, Japanese yen, and British pounds. Crawling pegs[edit source | editbeta]In a crawling peg system a country fixes its exchange rate to another currency or basket of currencies. This fixed rate is changed from time to time at periodic intervals with a view to eliminating exchange rate volatility to some extent without imposing the constraint of a fixed rate. Crawling pegs are adjusted gradually, thus avoiding the need for interventions by the central bank (though it may still choose to do so in order to maintain the fixed rate in the event of excessive fluctuations). Pegged within a band[edit source | editbeta]A currency is said to be pegged within a band when the central bank specifies a central exchange rate with reference to a single currency, a cooperative arrangement, or a currency composite. It also specifies a percentage allowable deviation on both sides of this central rate. Depending on the band width, the central bank has discretion in carrying out its monetary policy. The band itself may be a crawling one, which implies that the central rate is adjusted periodically. Bands may be symmetrically maintained around a crawling central parity (with the band moving in the same direction as this parity does). Alternatively, the band may be allowed to widen gradually without any pre-announced central rate. Currency boards[edit source | editbeta]A currency board (also known as 'linked exchange rate system")effectively replaces the central bank through a legislation to fix the currency to that of another country. The domestic currency remains perpetually exchangeable for the reserve currency at the fixed exchange rate. As the anchor currency is now the basis for movements of the domestic currency, the interest rates and inflation in the domestic economy would be greatly influenced by those of the foreign economy to which the domestic currency is tied. The currency board needs to ensure the maintenance of adequate reserves of the anchor currency. It is a step away from officially adopting the anchor currency (termed as dollarization or euroization). Dollarization/euroization[edit source | editbeta]This is the most extreme and rigid manner of fixing exchange rates as it entails adopting the currency of another country in place of its own. The most prominent example is the eurozone, where 17 seventeenEuropean Union (EU) member states have adopted the euro (€) as their common currency. Their exchange rates are effectively fixed to each other. There are similar examples of countries adopting the U.S. dollar as their domestic currency- British Virgin Islands, Caribbean Netherlands, East Timor,Ecuador, El Salvador, Marshall Islands, Federated States of Micronesia, Palau, Panama, Turks and Caicos Islands. Advantages[edit source | editbeta]A fixed exchange rate may minimize instabilities in real economic activity[14] Central banks can acquire credibility by fixing their country's currency to that of a more disciplined nation [14] On a microeconomic level, a country with poorly developed or illiquid money markets may fix their exchange rates to provide its residents with a synthetic money market with the liquidity of the markets of the country that provides the vehicle currency[14] A fixed exchange rate reduces volatility and fluctuations in relative prices It eliminates exchange rate risk by reducing the associated uncertainty It imposes discipline on the monetary authority International trade and investment flows between countries are facilitated Speculation in the currency markets is likely to be less destabilizing under a fixed exchange rate system than it is in a flexible one, since it does not amplify fluctuations resulting from business cycles Fixed exchange rates impose a price discipline on nations with higher inflation rates than the rest of the world, as such a nation is likely to face persistent deficits in its balance of payments and loss of reserves [6] Disadvantages[edit source | editbeta]The need for a fixed exchange rate regime is challenged by the emergence of sophisticated derivatives and financial tools in recent years, which allow firms to hedge exchange rate fluctuations The announced exchange rate may not coincide with the market equilibrium exchange rate, thus leading to excess demand or excess supply The central bank needs to hold stocks of both foreign and domestic currencies at all times in order to adjust and maintain exchange rates and absorb the excess demand or supply Fixed exchange rate does not allow for automatic correction of imbalances in the nation's balance of payments since the currency cannot appreciate/depreciate as dictated by the market It fails to identify the degree of comparative advantage or disadvantage of the nation and may lead to inefficient allocation of resources throughout the world There exists the possibility of policy delays and mistakes in achieving external balance The cost of government intervention is imposed upon the foreign exchange market [6] See also[edit source | editbeta]Exchange rate regime Floating exchange rate Gold standard Bretton Woods system Nixon Shock Smithsonian Agreement Foreign exchange fixing
    2 points
  23. It has been going for years like 10 years and will continue..I've been in this so call investment for 10 years and its the same ole story year in and year out. WOW
    2 points
  24. ***/// ... ...hysterical ! we're fallin' out over here, laughin' so hard !
    2 points
  25. This is worse than horrible - the boys could have taken anything and everything without a fight most likely -- why would they want to hurt him? I still cannot understand why there is no respect for human life among many - There's only a few creatures that I will even kill - It is truly sad and even more disturbing that this is happening among such young ones -- I could not bring myself to open the video either - UNEEK
    2 points
  26. Nothing there, back to the butt cave
    2 points
  27. Terrifying News On The World’s Largest Company… Erika Nolan (June 14, 2013) Imagine you are the shareholder of a large, multinational corporation that has received some deeply troubling news of late. In fact, over the course of the past few months, you’ve learned the following: Four employees were killed by a terrorist attack on an overseas office trip. The CEO’s staff was caught trying to cover up the company’s failings by lying to the press and shareholders. The company’s security division was caught spying on press outlets that were negatively reporting on the organization. The company’s security division was caught improperly obtaining private phone and digital communications of every customer for data mining. The auditing department was caught improperly targeting employees whose political views did not match those of the CEO. Numerous members of the CEO’s staff lied under oath and used fake email accounts to escape the board of directors’ oversight. In light of this, do you think the board of directors would continue to support the CEO? Or would the CEO be thrown out? And as a shareholder in this enterprise, would you sell your shares? Well, like it or not, you do own shares of this train wreck … it’s called America Inc., and you have an equal stake, along with more than 300 million of your fellow citizens — whether you like it or not. In Barack Obama’s first inaugural speech in 2009, he famously declared that American citizens should not ask “whether our government is too big or too small, but whether it works.” Now, more than four years removed from that speech, this administration has shown with agonizing detail that the size of government does indeed matter, and that it most assuredly does not work. From the Benghazi cover-up to the Justice Department’s subpoenaing the records of more than 20 reporters (and their parents), to the National Security Agency’s secret domestic spying program, to the IRS targeting the President’s political enemies, to high-level Obama administration officials testifying untruthfully under oath … what has been unearthed in the past few months is government corruption and tyranny of a scale few have witnessed in modern politics. So what do you do? You politically diversify…just like you do with your stock investments. You don’t own all Apple stock, or all Goldcorp stock. You invest in multiple companies to hedge your risk. Political diversification is the same strategy – but rather than different companies, you are using different countries. This is why I promote investments in overseas real estate or securing a second passport. It’s why you must have cash in banks in other countries and hold foreign currencies. And, now it’s clear that it’s the only way to protect ourselves from a U.S. government that has run amok. Too Large, But Not in Charge Before the truth came out, we were led to believe that the targeting of conservative groups by the IRS started with low-level employees in the Cincinnati office and that the reason our embassy in Benghazi was attacked and four Americans killed was the result of an Internet video. We were led to believe that Attorney General Eric Holder didn’t know anything about the Department of Justice spying on the press and that Director of National Intelligence James Clapper had no knowledge of the government collecting data on American citizens. We now know all of that to be false. Despite this, the President’s allies still argue that all of these scandals are not the product of principals acting in bad faith, but are rather the result of incompetence. (That is some serious incompetence, don’t you think?) About the Benghazi scandal, an anonymous Obama adminstration source told CBS News’ Sharyl Attkisson that, “We’re portrayed by Republicans as either being lying or idiots. It’s actually closer to us being idiots.” Regarding the IRS scandal, Obama’s close adviser, David Axelrod, stated that the “government is so vast” that the president “can’t know” what’s going on “underneath” him. How convenient, then, was it for the IRS to go rogue in a manner that was in perfect lock-step with the president’s political goals? From these admissions and facts, this massive government malfeasance can only be explained by one of three scenarios: The government is too large to effectively manage. Those running the government are too incompetent to manage it. The government has been infiltrated by nefarious actors abusing their power for political witch hunts. Knowing this, has there ever been a more glaring need to remove the tentacles of government from our lives? Sadly, that may prove impossible and, if that is the case, then the only solution will be to remove ourselves from the control of the U.S. government. In Wealth & Prosperity, Erika Nolan http://sovereign-investor.com/2013/06/14/terrifying-news-on-the-worlds-largest-company/
    2 points
  28. Is Iraq Nearing its Recovery Tipping Point? Michael Rubin | @mrubin1971 08.22.2013 - 5:05 PM During my research trip earlier this summer to Iraq, I had reported on some glimmers of progress, especially in southern Iraq. Citi Bank is opening an office in Baghdad, and Boeing delivered to Iraqi Airlines the first of several 737s last week. Baghdad has long lagged behind the rest of Iraq, however, as first Iraqi Kurdistan and then southern Iraq began to take off. No longer. Finally, the face of Baghdad is starting to change for the better: Retail heaven has come to Baghdad. The capital’s commercial district has been transformed with the arrival of Mansour Mall. On Sunday, hundreds of people were walking in droves leading up to the giant structure, in their best dress, with women glammed up in make-up and high heels and ready for a night on the town. It was like a carnival, or a parade. “All of Baghdad is here,” my dad said, chuckling, as we strolled through the place. “In the past, they would drive all the way north to Erbil to go to Majdi Mall…” There’s electricity and air conditioning, a luxury in central Iraq amid the searing 45°C temperatures. Finally, there is a place where people can hang out indoors and keep away from the summer heat. And for the first time in at least two decades, recognized brands are being stocked in the stores. There’s Koton, LC Waikiki, Ecco, Clarks and Geox, but those stores are alongside a fake “Aldoo”. That goes the same for food: there’s a “Krunchy Fried Chicken K.F.C”. Talk about contrasts: the sham poultry purveyors caught my attention as we walked by a shop that had Rolex and Raymond Weil watches on display…. Certainly terrorism remains a problem. The worst thing the United States can do is urge a compromise that will effectively reward extremists for conducting terrorism. And with Iraqi President Jalal Talabani permanently incapacitated mentally and physically from a stroke he suffered in December 2012, many unresolved political and communal issues will remain unresolved until elections next year. Still, in any war-weary country, there is a tipping point to confidence in recovery. And it seems despite the pessimism in the West, resilient Iraqis are pushing their country toward that positive tipping point. http://www.commentarymagazine.com/2013/08/22/is-iraq-nearing-its-recovery-tipping-point/
    2 points
  29. What if a "lead" bank was chosen for a good REASON? Let's pretend it was Wells Fargo. What if the REASON it was chosen was because it were owned partially by the Chinese under cleverly covered-investment disguise, not at all unlike what Ferdinand Marcos did to HIDE the Philippine gold in the US for so many years on ranches and farms owned under the guise of 275 different US corporate names? What if that "lead" bank was "supposed" to send a PORTION of the collected dinars (say about a THIRD) NOT to the UST. . .but instead to CHINA? ESPECIALLY if China were to pay in US Dollars??? What if China was then supposed to send BACK those US Dollars they hold as debt on the old US of A in EXCHANGE for the Dinars? THEN, what if China suddenly BALKED last week at DOING it this way and BACKED-OUT? What if they surprizingly and suddenly BACKED-OUT at the very LAST MINUTE? Would THIS scenerio explain the "back-stepping" everybody has watched since last week?
    2 points
  30. ***/// Greed, huh?.... yup... guess that could make otherwise sane men go mad... You'd think these gurus were 7' tall blondes in thongs the way they lose their minds over 'em...!
    2 points
  31. ***/// Hey, ya'll... don't disparage the Magical Marsupial.... May just be "new" to him ! Takes a long time for 'news' to filter down into his 'holler' in his neck o' the woods, dontcha know ! He still thinks prohibition is in effect - which explains his penchant to drink WhiteLightinin' and man his own still....! Carry on, Varmint ! You ratbastard !
    2 points
  32. LOL....Good one DT. He clearly likes thankin' around......
    2 points
  33. I tried thanking a deer once before I shot it. It heard me and ran away before I could take aim. How ungrateful is that? I had already thanked him. I was so offended. Roadrunner
    2 points
  34. In the words of Johnny Cash .... "I went out walking, with a Bible and a gun" ... WM13
    2 points
  35. No need for the negs people. PK. I'm a loan officer and I'll be the last one to know. When it happens it happens. No warnings given.
    2 points
  36. Never thought I'd say this, but I agree with you mark. I guess what I'm getting at is, Cruz has admitted to being born in a foreign land. Same circumstances as 'bama, American mother, foreign father. Is he eligible to be POTUS? If so, what would be the difference between his case and 'bama? You reply, as usual, has little, if anything, to do with the topic. Just can't help yourself, can ya? I hope so. But the announcement of him being born in Canada should make him ineligible. What's the matter, you don't American politicians? Neither do I.
    2 points
  37. U Usually Thank Adam By Name ! Just How Many People Have U Been Thanking Around With ?
    2 points
  38. Momma's Been Lookin' At Upgrading To A Younger New Boy Toy - One With Two Teeth !
    2 points


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