Flaskback July 2012: CBI decides to change the timing of the implementation of the Iraqi currency and deleting of zeros

Follow-up from previous posts!

The Currency Newshound

flashback07-10-2012-15: 14

The Iraqi Central Bank decided Sunday, altering the timing of the launch of project structuring and delete the zeros of the Iraqi currency, he completed the bulk of the action, among the new currency put into circulation must be the beginning of the calendar year in which the scheduled start of implementation and not.

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Economists anticipate USD to fall in Iraq; Hope for $3.30 exchange as it was, although difficult to achieve

It is said that the stability of exchange rates one of the most important means of achieving economic stability, the central bank and banks the responsibility for achieving the goal of price stability and the return of the real value of the Iraqi dinar to the dollar collapses fact in front of our national currency.

The Currency Newshound

Screen Shot 2013-06-28 at 7.52.08 PM| on 07/23/2013

Expected number of experts, finance and economy collapse of the dollar is not at the global level because he is still master of the currencies in most countries of the world but at the level of the exchange rate in Iraqi dinars, we hope for the return of Iraqi dinar exchange rate against 3.3 dollars as it was, but this dream difficult to achieve and fetched it is can be achieved in the light of the global variables but can be achieved to get equal to the price of any one dollar against the dinar .

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Cisco Acquires Cybersecurity Company Sourcefire For $2.7B

Statement on the filing of the Magna Carta for Philippine Internet Freedom Senate Bill No. 53 |

This extract with regard to cyber-security was important to post ,as it was written on the site:

We of Democracy.Net.PH believe that this overwhelmingly positive response to the filing of the #MCPIF is undeniable proof that there is a clamour among Filipinos for progressive legislation on Philippine cyberspace and the information and communications technology (ICT) sector. We strongly urge our legislators from both houses of the 16th Congress to heed this call and enact a law that will safeguard our civil and political rights online and harness the power of ICT for governance, development, and security.

We further see this response as a clear signal to the Supreme Court that the people view the Cybercrime Prevention Act of 2012 (RA 10175) as a knee-jerk, discredited piece of legislation that must be struck down. We trust that the Supreme Court will have the wisdom to give our legislators a chance to enact a well-crafted law that promotes rights, governance, development, and security, both online and offline.

Statement on the filing of the Magna Carta for Philippine Internet Freedom Senate Bill No. 53 |.

#cybercrime-prevention-act-of-2012, #filipino-people, #government, #holy-grail, #internet, #jay-z, #magna-carta, #philippines, #supreme-court, #technology, #united-states

Gold Standard Changes Since Cross Of Gold Speech

English: First Bank of the United States

English: First Bank of the United States (Photo credit: Wikipedia)

Update to Cross of Gold Speech

The 1830`s were a tumultuous decade for America. The attempt by the Second Bank of the United States for an early re-charter was passed by Congress in July 1832, but the bill was vetoed shortly thereafter by President Andrew Jackson. The hopes of the bank’s supporters to turn the veto in a winning campaign issue in that fall’s presidential campaign failed dismally. In 1833, Jackson retaliated against the bank by removing federal government deposits and placing them in “pet” state banks. As federal revenue from land sales soared, Jackson saw the opportunity to fulfil his dream of paying off the national debt – which he did in early 1835. But as the economy overheated and so did state dreams of infrastructure projects. Congress passed a law in 1836 that required the federal surplus to be distributed to the states in four payments. Shortly afterwards, the Jackson Administration declared in its “Specie Circular” that payments for federal land purchases be made in specie. When combined with loose state banking practices and a credit contraction, a major economic crisis was brewing when Martin Van Buren took office as president in March 1837. Two months later, New York City banks suspended specie payments. A major economic recession was soon under-way. Van Buren – under pressure from his mentor Jackson – decided not to suspend the Specie Circular. Instead, he proposed a set of economic proposals that September – the most of important of which – an independent Sub-Treasury – Congress refused to pass. As a result, the recession double dipped in 1839 and the national economy did not recover until 1843.

The Second Bank of the United States

English: Second Bank of the United States, Phi...

English: Second Bank of the United States, Philadelphia, built 1819-24, William Strickland, architect. (Photo credit: Wikipedia)

The first Bank of the United States died when its twenty-year charter expired in 1811. Re-charter of BUS was strongly backed by Treasury Secretary Albert Gallatin, weakly backed by President James Madison, opposed by Vice President George Clinton, opposed by the House of Representatives, and strongly opposed by former President Thomas Jefferson. House Speaker Henry Clay’s later support of a national bank in the 1820s and 1830s linked him to the American originator of the bank idea, Alexander Hamilton, but Clay had begun his political life as an opponent of the national bank. Only later, Clay and other Jeffersonians came to recognize the important functions played by the BUS. Historian Sean Wilentz wrote: “Republican reconciliation with Hamilton’s bank idea had taken place by fits and starts, and was never monolithic. In 1811,…the Madison administration, goaded by Secretary of the Treasury Gallatin, supported it….In Congress, a coalition of Republican southerners and westerners, seeing the bank as an instrument for economic development in their respective regions led the re-charter effort.” 1 However, the effort fell short in the House. Historian Gordon S. Wood noted that “the more important enemies of the BUS were the state banks. By regularly redeeming the outstanding notes of  the state banks, the BUS had checked their ability to issue notes too far in excess of what they could cover with specie, that is, their reserves, and this had become a deep source of anger….When the twenty-year charter of Hamilton’s BUS was about to expire in 1811, it was not surprising that these state banks were determined that it would not be renewed.” 2” Henry Clay, Wilentz wrote, thought “the national bank unfairly constrained the operations of state banks.”

The death of the first Bank of the United States was almost prevented. “On January 24th, 1811, the House, by a single vote, rejected a preliminary motion on the bank charter, and the fight moved to the Senate,” noted Historian John Steele Gordon. “There, on February 20th, the Senate tied 17-17 on another preliminary matter, and Vice President George Clinton, in perhaps the only significant independent act by a vice president in American history, voted against the bank. The Bank of the United States was dead.” It was an economically and politically short-sighted act. Gordon noted that “many of the men who voted to kill the bank were the very same men who advocated war – the most expensive of all public policies – with one of the strongest military powers on earth. Given the bank was the government’s principal mechanism for collecting internal revenue and its only one for raising loans, the defeat of the charter was perhaps the most feckless act in the history of the United States Congress, although, to be sure, that is a title for which there has been no little competition over the years.”

The War of 1812 would soon prove the clear need for a government bank to help fund growing government expenses not covered by the nation’s limited tariff revenue. Such revenue was further limited by a transatlantic war. The conflict of national economic policy, begun in the 1790s between followers of Alexander Hamilton and Thomas Jefferson, continued. Leading up to the 1812 war, noted financial historian Susan Hoffman, one “group of agrarian, `unreformed’ or `unreconstructed’ Jeffersonian’s, opposed re-charter of the Bank of the United States because they continued to oppose all banking on philosophical grounds. They resurrected the old arguments against the bank’s constitutionality. Joining them in opposition to re-charter was the third contingent of congressional Republicans, the free enterprise’s. Here was the voice of the `interests’ of the day. Led by Henry Clay, they opposed the Bank of the United States because its regulatory hand got in the way of state banks and because its dominance of U.S. government deposits kept those deposits out-of-state bank vaults.”

Jackson slays the many-headed monster of the S...

Jackson slays the many-headed monster of the Second Bank of the United States (1836) (Photo credit: Wikipedia)

The War of 1812 upended the long political split in the country about the bank. Now in power for 16 years, many Jeffersonian’s began to see the necessity of the bank that Federalists had long championed. Preparations were made for a successor institution. With support of Speaker Clay, President Madison, future President James Monroe, and future Vice President John Calhoun, the Second Bank of the United States was chartered in 1816 for 20 years. By 1816, noted financial historian Susan Hoffman, “Reformed Jeffersonians…had concluded that banking was with us and must be regulated to make sure its consistency with the Jeffersonian concept of the public interest, which emphasized protection of the freedom and equality of people. The key factional shift that allowed the second national bank’s charter to pass was on the part of the state banking supporters. Whether they had opposed the central bank because they did not like any regulator or because they thought state regulation would be sufficient, this group concluded, in light of the economic chaos in the absence of the first national bank, that federal regulation was consistent with state banking.”6” Historian Sean Wilentz observed that the new bank was designed to curb inflation and speculative frenzies: “Acting as a financial balance-wheel, the national bank would, in principle, keep currency values and capital markets stable, and prevent national economic expansion from turning into an orgy of over speculation and runaway inflation.

The Second Bank of the United States got off to a rocky start. Susan Hoffmann wrote that it “opened for business in January 1817 under William Jones (1816-19) in the midst of the economic boom that followed the end of the War of 1812.” 8 Indeed, the revived national bank was not fortunate in its choice of directors who first inflated the currency and then contracted it. Historian Harlow Giles Unger wrote: “Inflated by speculation in western lands, an economic `bubble’ suddenly popped, with hundreds of banks shutting down, and thousands of depositors and investors wiped. The land rush had seen the number of banks grow to more than 1,000, with each issuing its own colourful bank notes – normally in two and five-dollar denominations, backed by no one knew what.” 9 This period has been dubbed the “Era of Good Feelings,” but it was not the era of good economic leadership or economic prosperity. Economic historian Charles Sellers wrote that the “brutal deflation saved the national Bank by sacrificing not only its debtors but the state banks and their hordes of debtors as well, which is to say, most of the market economy. Suddenly in the spring of 1819, as the Bank’s pressure was intensified by a similar financial crisis in Britain, world commodity prices collapsed.” Sellers wrote that “the collapse of agricultural prices made it impossible for state banks to collect from borrowers or meet obligations to the national Bank. When most state banks suspended the pretence of specie redemption, a flood of business failures and personal liquidation plunged Americans into their first experience of general and devastating economic prostration.”

http://lehrmaninstitute.org/history/Andrew-Jackson-1837.asp

Experience should teach us wisdom. Most of the difficulties our Government now encounters and most of the dangers which impeded over our Union have sprung from an abandonment of the legitimate objects of Government by our national legislation, and the adoption of such principles as are embodied in this act. Many of our rich men have not been content with equal protection and equal benefits, but have besought us to make them richer by act of Congress. By attempting to gratify their desires we have in the results of our legislation arrayed section against section, interest against interest, and man against man, in a fearful commotion which threatens to shake the foundations of our Union. It is time to pause in our career to review our principles, and if possible revive that devoted patriotism and spirit of compromise which distinguished the sages of the Revolution and the fathers of our Union. If we can not at once, in justice to interests vested under improvident legislation, make our Government what it ought to be, we can at least take a stand against all new grants of monopolies and exclusive privileges, against any prostitution of our Government to the advancement of the few at the cost of the many, and in favour of compromise and gradual reform in our code of laws and system of political economy.

English: issued by the in the amount of $1,000.

English: issued by the in the amount of $1,000. (Photo credit: Wikipedia)

http://www.thegoldstandardnhow.org/jackson

The national government lacked even the most rudimentary financial tools in the secession winter of 1860-61.   It lacked both a stable currency and supply of credit along with revenue and banking systems.  By the time the sixteenth president, Abraham Lincoln, took the oath of office on March 4, 1861, the country was not only on the verge of Civil War but also a financial disaster.  The nation’s coffers were empty, left in disarray from three decades of Jacksonian fiscal policies, and the government faced a continuing liquidity crisis in light of the demands generated by Civil War expenditures.

Early in his administration, Lincoln recognized that the war’s outcome would be largely determined by resources.  Thus, he understood the imperative of raising funds to carry out the war effort.  It was against this backdrop that Lincoln appointed Salmon P. Chase to the Treasury, authorizing Chase alone to act on all matters of the country’s finances.  Chase, like most everyone else when, underestimated the severity of the War—both its duration and its cost.  Just as dangerous, perhaps, Chase overestimated the usefulness of Jackson era financial policies to deal with the crisis.

Upon taking office, Chase “found on hand less than $2,000,000, all of which was appropriated ten times over.  He calculated that he needed $320,000,000, as he reported to the Congress that met in July 1861,” wrote financial historian Bray Hammond.  Chase needed credit, revenue, and an increase in the supply of money.

After the fall of Fort Sumter, Lincoln unilaterally began to finance the war effort.  Over the month`s that followed, Chase—with Lincoln’s occasional assistance—would court Congress, encouraging bond sales, higher tariffs, a single national currency, and bank reforms.

Chase biographer Albert Bushnell Hart wrote: “The most important financial measures during the first year were arrangements for new loans, and the real borrowing of money—both matter`s in which the brief legislation of Congress was very significant, for there was laid the foundation for large issues of bonds, of interest-bearing notes, and of circulating notes.”

Chase had asked Congress, meeting in special session during in July 1861, to authorize $240 million in loan`s. Chase was convinced that the government should not sell its securities below par, but there was no market for government securities at par.  American financier Jay Cooke became a close advisor to Chase in 1861, suggesting that the Treasury sell bonds directly to the American public, appealing to their patriotism and emotion.    Chase, therefore, asked Congress for low-denomination Treasury notes which people could pay for in instalments.  As described by historian Phillip S. Paludan, the Treasury secretary sought “to encourage their enthusiasm  Chase wanted to have these notes earn interest at a penny a day on a $50 note—a higher rate than usually paid by the government.  Average Northern citizens would thus link their fortunes to the success of Union arms.”

http://www.thegoldstandardnow.orgh/the-civil-war-and-greenbacks

Future Intentions: According to 

Ambrose Evans-Pritchard who has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. Who joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels. Who is now International Business Editor in London.

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100022332/a-new-gold-standard-is-being-born/

The world is moving step by step towards a de facto Gold Standard, without any meetings of G20 leaders to announce the idea or bless the project.

Some readers will already have seen the GFMS Gold Survey for 2012 which reported that central banks around the world bought more bullion last year in terms of tonnage than at any time in almost half a century.

They added a net 536 tonnes in 2012 as they diversified fresh reserves away from the four fiat suspects: dollar, euro, sterling, and yen.

The Washington Accord, where Britain, Spain, Holland, Switzerland, and others sold a chunk of their gold each year, already seems another era – the Gordon Brown era, you might call it.

That was the illusionary period when investors thought the Euro would take its place as the twin pillar of a new G2 condominium alongside the dollar. That hope has faded. Central bank holdings of Euro bonds have fallen back to 26pc, where they were almost a decade ago. Please download the PDF below of the draft.

World Gold Council Draft Exposure_draft_Conflict_Free_Gold_Standard_prexposure_draft_conflict_free_gold_standard_pr.pdf

 

 

 

#alexander-hamilton, #andrew-jackson, #economy, #george-clinton, #government, #henry-clay, #jackson, #politics, #second-bank-of-the-united-states, #specie-circular, #united-states

PAYPAL CREATED WORLD’S FIRST QUADRILLIONAIRE: PAY PAL ACCIDENTALLY TRANSFERED $92 QUADRILLION TO CUSTOMER CHRIS REYNOLDS, REYNOLDS SAID WOULD USE MONEY TO PAY OFF U.S. DEBT

Nice post from katenews2day just had to post it, have a nice day people!

katenews2day

 

PayPal accidentally makes man a QUADRILLIONAIRE after transferring $92,233,720,368,547,800 into his account

  • Chris Reynolds left shocked after opening his monthly-statement
  • ‘I just felt like a million bucks’ he said

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Turkish central bank paves way for rate hike after lira slide, Reuters

This type of interest rate rise comes as no shock to me – as the need to stabilise the country, can be controlled by the US removing its funding! Also the ECB is not in a hurry to get involved a changing situation, as regards the economy!

Delphi Method of Predicting The Future For Mankind

The Delphi method (/ˈdɛlf/ del-fy) is a structured communication technique, originally developed as a systematic,

Delphi Method Implementation

Delphi Method Implementation (Photo credit: Martin Erpicum)

interactive forecasting method which relies on a panel of experts. The experts answer questionnaires in two or more rounds. After each round, a facilitator provides an anonymous summary of the experts’ forecasts from the previous round as well as the reasons they provided for their judgement’s. Thus, experts are encouraged to revise their earlier answers in light of the replies of other members of their panel. It is believed that during this process the range of the answers will decrease and the group will converge towards the “correct” answer. Finally, the process is stopped after a pre-defined stop criterion (e.g. number of rounds, achievement of consensus, stability of results) and the mean or median scores of the final rounds determine the results.

Delphi is based on the principle that forecasts (or decisions) from a structured group of individuals are more accurate than those from unstructured groups. The technique can also be adapted for use in face-to-face meetings, and is then called mini-Delphi or Estimate-Talk-Estimate (ETE). Delphi has been widely used for business forecasting and has certain advantages over another structured forecasting approach, prediction markets.

The Delphi method was developed at the beginning of the Cold War to forecast the impact of technology on warfare. In 1944, General Henry H. Arnold ordered the creation of the report for the U.S. Army Air Corps on the future technological capabilities that might be used by the military.

Different approaches were tried, but the shortcomings of traditional forecasting methods, such as theoretical approachquantitative easing or trend extrapolation, in areas where precise scientific laws have not been established yet, quickly became apparent. To combat these shortcomings, the Delphi method was developed by Project RAND during the 1950-1960s (1959) by Olaf Helmer, Norman Dalkey, and Nicholas Rescher. It has been used ever since, together with various modifications and formulations, such as the Imen-Delphi procedure.

MY PERSONAL VIEW:

When l started researching this area of our lives, l was surprised at what l was able to find out based on a few simple but affective, measures! If we

Delphi-Method-Implementation-Layout-Moderator

Delphi-Method-Implementation-Layout-Moderator (Photo credit: Martin Erpicum)

simply take the ” Delphi Method “ to real-time – Real-time Delphi (RTD) it becomes an advanced form of the Delphi method. The advanced method “is a consultative process that uses computer technology” to increase efficiency of the Delphi process. Thus making computations firstly much quicker and also a lot more accurate, but also and this was a real humdinger that control of the population had been controlled a lot further back than is first thought.

At present the world talks incessantly  about global financial crisis, economic gloom and political unrest, the fact that our lives have been controlled to such an effect, that we follow like sheep, lapping up the technology on offer, such as the latest must have, whatever! Then look deeper and we start to see the real control is that someone somewhere wanted us to have our “Golden Age” as this would allow greater manipulation of people. The companies such as Microsoft, convinced us so long ago of the benefit of computers, then others joined the throng and Apple came up with the ipad and iphone and the rest followed!

If you want to control a greater number of people using a few then you need to provide what these people want, thus by controlling want, just like a young child! You then occasionally remove it and make them struggle, {Global Financial Crisis} so their only reason for life, is to want it back! Thus when you give it back they are eternally grateful {And do not ask were it came from, or even who supplies their daily bread} and will buckle down and follow the edict they provide! I call this control “The need for want and not the want for need” as we should not strive for treasures on earth, but look for reward in heaven, we can follow this through {pardon the pun} to control by auto-suggestion our {hopes and fears} and this can relate to terrorist attacks or a scape goat nation to blame such as the Islamic Nations! The fact that we then as many leaders have said, have need of a War to provide a simply focus away from what is really going on and of course ,as a number of  the “Bildebergs “  are purported to have said, or agreed as a way forward, for the human race! Thus a simple and effective way to cull people, thus not being blamed but passing the buck to the scape goat nation, already in waiting following such a real focused event namely {911} and thus {killing two birds with one stone} and at the same time, finding a reason for funding the latest War effort, and improving the economies of the West at the same time! As we all know War provides profit for some and this time thanks to people like the Bildeberg’s the chosen few!

As you can imagine l could continue this post for ages but my main point was to provide a way to see it is not always our free-will, that makes decisions, but with the right technology, our want to have everything and our own want to share our lives and all about our lives through social media, we provide these people with everything, they ever wanted! Thus enabling us to be controlled! This is the beginning of a “New World Order” and we will be grateful to them for looking after us and protecting us from harm, from terrorist attacks and the other things that will upset our lives, leaving us with-out the latest technology, controlled by them, in ways we can as yet only imagine is possible!

 

#acenewsservices, #cold-war, #delphi, #delphi-method, #henry-h-arnold, #microsoft, #nicholas-rescher, #olaf-helmer, #rand-corporation, #united-states-army-air-corps

Child Support Agency

An excellent well written article and a structure we all need to be aware of, to protect our children’s future!

Parents Rights Blog

Child Support Agency

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In London, the next wave of Bitcoin growth will be led by startups and innovation

Gigaom

On the 39th floor of one of London’s tallest office buildings — chock full of bankers in dark suits, and overlooking the mighty Thames — a group of entrepreneurs, investors, analysts and the media came together this week to talk about a more alternative form of financing: the controversial cyber currency called Bitcoin. Perched above the heart of London’s financial sector, there were very few institutional bankers and investors in the room, according to event organizer and Hummingbird Ventures Partner, Pamir Gelenbe, who noted: “I don’t think the financial services sector at large has caught onto Bitcoin yet.”

Bitcoin machineHowever, even if Europe’s financial capital isn’t quite taking Bitcoin seriously, it doesn’t mean they aren’t paying attention to it — and it’s hard not to. Particularly in recent weeks, when there’s been a flow of news showing how Bitcoin seems to be slowly becoming more respectable and potentially more liquid. And…

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