El oro, una divisa en tiempos de crisis. James Turk Fundador de GoldMoney
|
|
|
- Chester Skinner
- 5 years ago
- Views:
Transcription
1 El oro, una divisa en tiempos de crisis James Turk Fundador de
2
3 Title & Headline Title Slide Box Gold, Silver, Money, Currency and the Banks James Turk 18 June 2009 Madrid, Spain
4 Title Another & Headline great Title depression Slide Box
5 Title Another & Headline great Title depression Slide Box
6 Title & Headline Title Slide Box One of the best performing asset classes Gold % Annual Change USD AUD CAD CNY EUR INR JPY CHF GBP % 11.3% 8.8% 2.5% 8.1% 5.8% 17.4% 5.0% 5.4% % 13.5% 23.7% 24.8% 5.9% 24.0% 13.0% 3.9% 12.7% % -10.5% -2.2% 19.5% -0.5% 13.5% 7.9% 7.0% 7.9% % 1.4% -2.0% 5.2% -2.1% -0.0% 0.9% -3.0% -2.0% % 25.6% 14.5% 15.2% 35.1% 22.8% 35.7% 36.2% 31.8% % 14.4% 22.8% 18.8% 10.2% 20.5% 24.0% 13.9% 7.8% % 18.6% 10.4% 23.0% 17.9% 17.5% 24.7% 21.5% 29.2% % 32.5% 32.4% -1.1% 11.9% 30.4% -14.9% 0.2% 44.3% Annual Average 16.3% 13.3% 13.6% 13.5% 10.8% 16.8% 13.6% 10.6% 17.1%
7 Title & Headline Title Slide Box One of the best performing asset classes Silver % Annual Change USD AUD CAD CNY EUR INR JPY CHF GBP % 8.5% 6.1% -0.1% 5.3% 3.1% 14.4% 2.3% 2.7% % -4.6% 4.0% 4.9% -11.0% 4.3% -5.0% -12.6% -5.3% % -7.3% 1.4% 23.9% 3.2% 17.7% 11.9% 11.0% 11.9% % 10.2% 6.5% 14.3% 6.4% 8.6% 9.6% 5.4% 6.5% % 37.7% 25.5% 26.3% 48.1% 34.6% 48.8% 49.3% 44.4% % 35.3% 45.3% 40.5% 30.4% 42.6% 46.7% 34.8% 27.5% % 4.1% -3.1% 8.0% 3.5% 3.2% 9.5% 6.7% 13.5% % -4.7% -4.7% -28.9% -19.5% -6.2% -38.8% -27.9% 3.8% Annual Average 13.7% 9.9% 10.1% 11.1% 8.3% 13.5% 12.1% 8.6% 13.1%
8 Title Gold & is Headline money Title Slide Box Crude Oil Prices (Base of 100) January 1950 through May 2009 British pound
9 Title Gold & is Headline money Title Slide Box Crude Oil Prices (Base of 100) January 1950 through May 2009 British pound US dollar
10 Title Gold & is Headline money Title Slide Box Crude Oil Prices (Base of 100) January 1950 through May 2009 British pound US dollar euro
11 Title Gold & is Headline money Title Slide Box Crude Oil Prices (Base of 100) January 1950 through May 2009 British pound US dollar euro goldgram
12 Title Gold & and Headline silver Title are Slide money Box Crude Oil Prices (Base of 100) January 1950 through May 2009 British pound US dollar euro goldgram silver ounce
13 Title Gold, & money Headline & Title currency Slide Box Gold is special because it is different
14 Title Gold, & money Headline & Title currency Slide Box Gold is special because it is different accumulated (saved); not consumed
15 Title Gold, & money Headline & Title currency Slide Box Gold is special because it is different accumulated (saved); not consumed large aboveground stock relative to annual production
16 Title Gold, & money Headline & Title currency Slide Box Gold is special because it is different accumulated (saved); not consumed large aboveground stock relative to annual production value derives from usefulness
17 Title Gold, & money Headline & Title currency Slide Box Gold is special because it is different accumulated (saved); not consumed large aboveground stock relative to annual production value derives from usefulness food
18 Title Gold, & money Headline & Title currency Slide Box Gold is special because it is different accumulated (saved); not consumed large aboveground stock relative to annual production value derives from usefulness food shelter
19 Title Gold, & money Headline & Title currency Slide Box Gold is special because it is different accumulated (saved); not consumed large aboveground stock relative to annual production value derives from usefulness food shelter communication (interaction in society)
20 Title Gold, & money Headline & Title currency Slide Box Money is a mental tool that enables economic calculation
21 Title Gold, & money Headline & Title currency Slide Box Money is a mental tool that enables economic calculation unchanged throughout history
22 Title Gold, & money Headline & Title currency Slide Box Money is a mental tool that enables economic calculation unchanged throughout history Currency is a medium of exchange
23 Title Gold, & money Headline & Title currency Slide Box Money is a mental tool that enables economic calculation unchanged throughout history Currency is a medium of exchange improves as a result of technological innovations
24 Title Gold, & money Headline & Title currency Slide Box Bank of England established, 1694
25 Title Gold, & money Headline & Title currency Slide Box Bank of England established, 1694 invention of paper currency
26 Title Gold, & money Headline & Title currency Slide Box Bank of England established, 1694 invention of paper currency banknotes circulated current in place of gold/silver coins safely stored in vault
27 Title Gold, & money Headline & Title currency Slide Box Bank of England established, 1694 invention of paper currency banknotes circulated current in place of gold/silver coins safely stored in vault currency changes from a tangible asset to a bank liability
28 Title Gold, & money Headline & Title currency Slide Box Bank of England established, 1694 invention of paper currency banknotes circulated current in place of gold/silver coins safely stored in vault currency changes from a tangible asset to a bank liability creation of payment risk a/k/a Herstatt risk
29 Title Gold, & money Headline & Title currency Slide Box Bank of England established, 1694 invention of paper currency banknotes circulated current in place of gold/silver coins safely stored in vault currency changes from a tangible asset to a bank liability creation of payment risk a/k/a Herstatt risk first bank crisis in 1696
30 Title Gold, & money Headline & Title currency Slide Box Newton s Gold Standard,
31 Title Gold, & money Headline & Title currency Slide Box Newton s Gold Standard, defined one British pound as an unchanging weight of gold
32 Title Gold, & money Headline & Title currency Slide Box Newton s Gold Standard, defined one British pound as an unchanging weight of gold pound banknote redeemable into gold on demand
33 Title Gold, & money Headline & Title currency Slide Box Newton s Gold Standard, defined one British pound as an unchanging weight of gold pound banknote redeemable into gold on demand Bank of England responsible for ensuring redeemability
34 Title Gold, & money Headline & Title currency Slide Box Newton s Gold Standard, defined one British pound as an unchanging weight of gold pound banknote redeemable into gold on demand Bank of England responsible for ensuring redeemability voluntary rules ensure system s automaticity
35 Title Gold, & money Headline & Title currency Slide Box Newton s Gold Standard, defined one British pound as an unchanging weight of gold pound banknote redeemable into gold on demand Bank of England responsible for ensuring redeemability voluntary rules ensure system s automaticity becomes backbone of British empire
36 Title Gold, & money Headline & Title currency Slide Box Peel s Bank Act, 1844
37 Title Gold, & money Headline & Title currency Slide Box Peel s Bank Act, 1844 limits quantity of pound banknotes
38 Title Gold, & money Headline & Title currency Slide Box Peel s Bank Act, 1844 limits quantity of pound banknotes unintended consequence is the development of deposit currency
39 Title Gold, & money Headline & Title currency Slide Box Peel s Bank Act, 1844 limits quantity of pound banknotes unintended consequence is the development of deposit currency payment risk escalates
40 Title Gold, & money Headline & Title currency Slide Box Peel s Bank Act, 1844 limits quantity of pound banknotes unintended consequence is the development of deposit currency payment risk escalates new British banking model eventually adopted worldwide
41 Title Gold, & money Headline & Title currency Slide Box Peel s Bank Act, 1844 limits quantity of pound banknotes unintended consequence is the development of deposit currency payment risk escalates new British banking model eventually adopted worldwide seed for too big too fail
42 Title Gold, & money Headline & Title currency Slide Box Peel s Bank Act, 1844 limits quantity of pound banknotes unintended consequence is the development of deposit currency payment risk escalates new British banking model eventually adopted worldwide seed for too big too fail 2 functions within one bank
43 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution begins
44 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution begins The gold standard is already a barbarous relic. J.M. Keynes, 1923
45 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution begins The gold standard is already a barbarous relic. J.M. Keynes, 1923 governments chafe at the discipline imposed by the gold standard
46 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution begins The gold standard is already a barbarous relic. J.M. Keynes, 1923 governments chafe at the discipline imposed by the gold standard governments claim that currency managed by central banks can eliminate the boom/bust cycle
47 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution succeeds
48 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution succeeds Gold Standard finally disappears 1971
49 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution succeeds Gold Standard finally disappears 1971 US dollar and other currencies no longer redeemable into gold
50 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution succeeds Gold Standard finally disappears 1971 US dollar and other currencies no longer redeemable into gold governments can now create currency without limit
51 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution is ending
52 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution is ending when currency can be created without limit, there are consequences
53 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution is ending when currency can be created without limit, there are consequences these include inflation, global imbalances and sovereign wealth funds
54 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution is ending when currency can be created without limit, there are consequences these include inflation, global imbalances and sovereign wealth funds Gold still represents the ultimate form of payment in the world. Alan Greenspan, 1999
55 Title Gold, & money Headline & Title currency Slide Box Keynesian revolution is ending when currency can be created without limit, there are consequences these include inflation, global imbalances and sovereign wealth funds Gold still represents the ultimate form of payment in the world. Alan Greenspan, 1999 gold remains the standard by which all things are measured gold is money
56 Title Gold & is Headline money Title Slide Box Crude Oil Prices (Base of 100) January 1950 through May 2009 British pound US dollar euro goldgram
57 goldgrams Title The boom & Headline bust Title cycle Slide Box Dow Jones Industrials in Gold December 1913 through May 2009 ounces Log Scale
58 goldgrams Title The boom & Headline bust Title cycle Slide Box Dow Jones Industrials in Gold December 1913 through May 2009 ounces Log Scale DJIA cheap / gold expensive
59 goldgrams Title The boom & Headline bust Title cycle Slide Box Dow Jones Industrials in Gold December 1913 through May 2009 DJIA expensive / gold cheap ounces Log Scale DJIA cheap / gold expensive
60 goldgrams Title The boom & Headline bust Title cycle Slide Box Dow Jones Industrials in Gold December 1913 through May 2009 DJIA expensive / gold cheap ounces Log Scale DJIA cheap / gold expensive
61 goldgrams Title The boom & Headline bust Title cycle Slide Box Dow Jones Industrials in Gold December 1913 through May 2009 DJIA expensive / gold cheap ounces Log Scale DJIA cheap / gold expensive
62 goldgrams Title The boom & Headline bust Title cycle Slide Box Dow Jones Industrials in Gold December 1913 through May 2009 DJIA expensive / gold cheap ounces Log Scale DJIA cheap / gold expensive
63 Title Printing & Headline dollars Title Slide Box Quantity of Money (M3) - Annual Growth Rate January 1975 though May % 10% 5% 0%
64 Title Printing & Headline dollars Title Slide Box Quantity of Money (M3) - Annual Growth Rate January 1975 though May % 10% 5% 1970's Inflation 0%
65 Title Printing & Headline dollars Title Slide Box Quantity of Money (M3) - Annual Growth Rate January 1975 though May % 1980's Disinflation 10% 5% 1970's Inflation 0%
66 Title Printing & Headline dollars Title Slide Box Quantity of Money (M3) - Annual Growth Rate January 1975 though May % 10% 1980's Disinflation 1990's Reflation 5% 1970's Inflation 0%
67 Title Printing & Headline dollars Title Slide Box Quantity of Money (M3) - Annual Growth Rate January 1975 though May % 10% 1980's Disinflation 1990's Reflation 5% 0% 1970's Inflation 2000's Flight from the Dollar
68 Title Printing & Headline dollars Title Slide Box Quantity of Money (M3) - Annual Growth Rate January 1975 though May % 10% 1980's Disinflation 1990's Reflation 5% 0% 1970's Inflation 2000's Flight from the Dollar Bernanke Inflation
69 Title & Headline Title Slide Box The dollar s bear market rally US Dollar Index - Weekly January 2, 1987 through June 12, Log Scale
70 Title & Headline Title Slide Box The dollar s bear market rally US Dollar Index - Weekly January 2, 1987 through June 12, Log Scale
71 Title & Headline Title Slide Box The dollar s bear market rally US Dollar Index - Weekly January 2, 1987 through June 12, Log Scale
72 Title & Headline Title Slide Box The dollar s bear market rally US Dollar Index - Weekly January 2, 1987 through June 12, Log Scale
73 Title & Headline Title Slide Box The dollar s bear market rally US Dollar Index - Weekly January 2, 1987 through June 12, Log Scale
74 Title & Headline Title Slide Box Federal Reserve assets surge
75 Title & Headline Title Slide Box The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. Federal Reserve Chairman Ben Bernanke
76 Title & Headline Title Slide Box On the cusp of hyperinflation 1)Gold rising in all currencies
77 Title & Headline Title Slide Box On the cusp of hyperinflation 1)Gold rising in all currencies 2)Crude oil/commodities rising
78 Title & Headline Title Slide Box On the cusp of hyperinflation 1)Gold rising in all currencies 2)Crude oil/commodities rising 3)Negative real interest rates
79 Title & Headline Title Slide Box On the cusp of hyperinflation 1)Gold rising in all currencies 2)Crude oil/commodities rising 3)Negative real interest rates 4)Blind faith in Federal Reserve management
80 Title & Headline Title Slide Box On the cusp of hyperinflation 1)Gold rising in all currencies 2)Crude oil/commodities rising 3)Negative real interest rates 4)Blind faith in Federal Reserve management 5)T-bonds and stock market diverged & now stocks/yields are rising
81 Title & Headline Title Slide Box On the cusp of hyperinflation 1)Gold rising in all currencies 2)Crude oil/commodities rising 3)Negative real interest rates 4)Blind faith in Federal Reserve management 5)T-bonds and stock market diverged & now stocks/yields are rising 6)Runaway US government spending
82 Title The impact & Headline on Title banks Slide Box 1)Reduce leverage means lower earnings and return on capital
83 Title The impact & Headline on Title banks Slide Box 1)Reduce leverage means lower earnings and return on capital 2)Deteriorating economy means more bad loans
84 Title The impact & Headline on Title banks Slide Box 1)Reduce leverage means lower earnings and return on capital 2)Deteriorating economy means more bad loans 3)Lend long borrow short means unprofitable assets
85 Title The impact & Headline on Title banks Slide Box 1)Reduce leverage means lower earnings and return on capital 2)Deteriorating economy means more bad loans 3)Lend long borrow short means unprofitable assets 4)Dollar assets funded by non-dollar liabilities means margin pressures
86 Title The impact & Headline on Title banks Slide Box 1)Reduce leverage means lower earnings and return on capital 2)Deteriorating economy means more bad loans 3)Lend long borrow short means unprofitable assets 4)Dollar assets funded by non-dollar liabilities means margin pressures 5) Too big to fail is a failure
87 Title Too& big Headline to fail Title Slide Box To continue to be effective, government s regulatory role must increasingly be focused on assuring that adequate risk management systems are in place in the private sector. Alan Greenspan, 2000
88 Title Too& big Headline to fail Title Slide Box To continue to be effective, government s regulatory role must increasingly be focused on assuring that adequate risk management systems are in place in the private sector. Alan Greenspan, 2000 Not enough when the system itself is inherently risky!
89 Title & Headline Title Slide Box My proposed 3-step solution 1)Separate functions
90 Title & Headline Title Slide Box My proposed 3-step solution 1)Separate functions - put lending and payment in different institutions
91 Title & Headline Title Slide Box My proposed 3-step solution 1)Separate functions - put lending and payment in different institutions - banks of credit & banks of commerce
92 Title & Headline Title Slide Box My proposed 3-step solution 1)Separate functions - put lending and payment in different institutions - banks of credit & banks of commerce 2)Give depositors a choice
93 Title & Headline Title Slide Box My proposed 3-step solution 1)Separate functions - put lending and payment in different institutions - banks of credit & banks of commerce 2)Give depositors a choice - no risk deposits, no free checking
94 Title & Headline Title Slide Box My proposed 3-step solution 1)Separate functions - put lending and payment in different institutions - banks of credit & banks of commerce 2)Give depositors a choice - no risk deposits, no free checking 3)Greater disclosure of fractional reserve risks
95 Title One & proposed Headline Title solution Slide Box Our finances will never be brought into order until Congress is compelled to do so. Making our money redeemable in gold will create this compulsion. Rep. Howard Buffett, father of Wall Street legend Warren Buffett, May 4, 1948
96 Title & Headline Title Slide Box
97 Muchas gracias Thank you very much
Economic History of the US
Economic History of the US Revolution to Civil War,1776-1860 Lecture #5 Peter Allen Econ 120 Financial Issues, 1776-1860 Revolutionary War, 1775-81 Articles of Confederation, 1781-89 Practical aim, victory
Achieving a Stable Dollar October 6, 2011
Achieving a Stable Dollar October 6, 2011 Nathan Lewis Kiku Capital Management LLC Gold: the Once and Future Money (2007) www.newworldeconomics.com 1 1 From 1789 to 1971, the U.S. used a gold standard
Profitability, Long Waves and the Recurrence of General Crises
Profitability, Long Waves and the Recurrence of General Crises International Initiative for Promoting Political Economy Conference Naples September, 2014 Anwar Shaikh New School for Social Research Material
State Content Standards for New Mexico
Episode 101 What Is a Biz Kid? Episode 102 What Is Money? Episode 103 How Do You Get Money? Episode 104 What Can You Do with Money? Episode 105 Money Moves Episode 106 Taking Charge of Your Financial Future
The Aim and Scope of Financial System: the Monetary function
Course Introduction to Finance (80753 INTRODUCTION TO FINANCE) (A.Y. 07/8) The Aim and Scope of Financial System: the Monetary function 08 Agenda ) The Monetary Function ) Money and the monetary function
Issuing Activity and Currency in Circulation
Issuing Activity and Currency in Circulation Annual Report 26 NÁRODNÁ BANKA SLOVENSKA Issuing Activity and Currency in Circulation.1 Slovak currency issuance In 26, in accordance with the needs of currency
USGSA, INC Helping to ensure your financial freedom with wealth insurance.
USGSA, INC Helping to ensure your financial freedom with wealth insurance. Gold Coins Private, non-reported, fractional European 1/5 ounce gold coins are the world s most popular and sought after coin,
Medium of Exchange in American History
Medium of Exchange in American History Specie (gold and silver) Private bank notes Checks Government bank notes Credit cards 1 Colonial Era The medium of exchange in the colonial era was coins, made from
Trading Systems Analysis Group Forex Summary for 10/23/2007
Forex at a Glance Trading Systems Analysis Group Forex Summary for 10/23/2007 Price Change Pip Currency Pair Close Price in Points Gain/Loss USD/CHF 1.1726-0.0050-50 USD/JPY 114.76 0.35 35 EUR/USD 1.4260
Reading Essentials and Study Guide
Lesson 1 The Evolution, Functions, and Characteristics of Money ESSENTIAL QUESTION How has money evolved to meet the needs of people everywhere? Reading HELPDESK Academic Vocabulary revolution an overthrow
Accounting Toolbar Icons
www.perfecticon.com Accounting Toolbar Icons Accountants and bookkeepers are human beings who appreciate nice graphics and uniform style. Enhance your accounting software with slick, stylish icons. Accounting
State Content Standards for Florida
Episode 101 What Is a Biz Kid? Episode 102 What Is Money? Episode 103 How Do You Get Money? Episode 104 What Can You Do with Money? Episode 105 Money Moves Episode 106 Taking Charge of Your Financial Future
1114 FEDERAL KESEKVE BULLETIN. OCTOBER, 1923.
1114 FEDERAL KESEKVE BULLETIN. OCTOBER, RECENT DEVELOPMENTS IN RUSSIAN BANKING AND CURRENCY. During the past year some important changes have taken place in the banking and currency situation in Kussia.
Compilation of Seigniorage
9 Compilation of Seigniorage Erik Haller Pedersen and Tom Wagener, Economics INTRODUCTION Historically, issuing money has been a royal prerogative, one of the reasons being that it generates considerable
An Uneven Planet. Globalization, Capital, & Inequality in the 21 st Century
An Uneven Planet Globalization, Capital, & Inequality in the 21 st Century Today s Discussion Brief Review Globalization The Problem of Inequality Picketty & the Politics of Redistribution Brief Review
Keywords: Dinar, Monetary Policy, Inflation
THE ROLE OF MONETARY POLICY IN DINAR SYSTEM (The issues and existence of monetary instruments) Nuradli Ridzwan Shah Mohd Dali 1 Lecturer, Universiti Tenaga Nasional Kampus Sultan Haji Ahmad Shah 26700
Suggested Readings. ECONOMICS PAPER No. 11 MONEY AND BANKING MODULE No. : 1 DEFINITION OF MONEY
Suggested Readings 1. KEITH BAIN AND PETER HOWELLS, MONETARY ECONOMICS POLICY AND ITS THEORETICAL BASIS 3.SurajB,Gupta, MONETARY ECONOMICSInstitutions Theory and Policy 6.Lewis and Mizen, MONETARY ECONOMICS
1 of 5 11/21/2017, 12:26 PM
1 of 5 11/21/2017, 12:26 PM Oct. 9, 2017, 04:44 PM SOUTHLAKE, Texas, Oct. 09, 2017 (GLOBE NEWSWIRE) -- Rangeford Resources, Inc. ( Rangeford ) (OTCQB:RGFR) today issued the following Special Letter to
Silver Blockchain Inc.
Silver Blockchain Inc. WHAT IS CANNDOLLAR??? A digital currency that is 100% backed by real physical silver. Every CannDollar secured by 1 troy o/z silver 0.999 purity, held in a vault with title registered
3/16/2015. Michael Salemi, Professor Emeritus UNC Chapel Hill BRONZE RINGS USED IN AFRICA COWRIE SHELLS USED IN PACIFIC REGIONS DOLLARS EUROS
Michael Salemi, Professor Emeritus UNC Chapel Hill BRONZE RINGS USED IN AFRICA COWRIE SHELLS USED IN PACIFIC REGIONS DOLLARS EUROS 1 GOLD BITCOINS 1. Money has evolved through time. 2. Money is a social
CURRENSEE INITIAL GOLD BACKED COIN OFFERING
WHITE PAPER www.currensee.io CURRENSEE INITIAL GOLD BACKED COIN OFFERING 01 Currensee Initial Gold Backed Table Of Contents Introduction 02 Future of Cryptocurrencies 03 Gold on the Blockchain 04 Why CURRENSEE?
Why. Silver? G SI Ex change.c om
SILVER ACTION PLAN Why Silver? Today s market presents many unique opportunities that are foreign to the Buy and Hold Mentality of many traditional precious metals dealers. G SI Ex change.c om Based on
MONEY AND FINANCIAL SYSTEMS (PART-1) UNIT- I MONEY (PART-1)
MONEY AND FINANCIAL SYSTEMS (PART-1) UNIT- I MONEY (PART-1) 1. INTRODUCTION Welcome viewers, now we are starting new subject, subject of money and financial markets which is included in the B.com 3 rd
Transnational Circulation of Money: Silver, JMY and USD
Transnational Circulation of Money: Silver, JMY and USD Min Shu Waseda University 2017/10/30 1 Outline of the Lecture The political economy of international currency Copper and silver in pre-colonial East
WRITTEN SUBMISSION OF GE CAPITAL TO THE FINANCIAL CRISIS INQUIRY COMMISSION
WRITTEN SUBMISSION OF GE CAPITAL TO THE FINANCIAL CRISIS INQUIRY COMMISSION MICHAEL A. NEAL CHAIRMAN AND CEO OF GE CAPITAL AND VICE CHAIRMAN OF GE May 6, 2010 Chairman Angelides, Vice-Chairman Thomas,
VALERIE R. BENCIVENGA. PHONE DATE OF BIRTH CITIZENSHIP (cell phone) October 27, 1955 United States
VALERIE R. BENCIVENGA OFFICE ADDRESS Department of Economics BRB 3.102C University of Texas at Austin Austin TX 78712 PHONE DATE OF BIRTH CITIZENSHIP 512-731-8288 (cell phone) October 27, 1955 United States
News English.com Ready-to-use ESL / EFL Lessons
www.breaking News English.com Ready-to-use ESL / EFL Lessons The Breaking News English.com Resource Book 1,000 Ideas & Activities For Language Teachers http://www.breakingnewsenglish.com/book.html Russia
staying ON BUDGET: ACTIVITY PACK in partnership with
staying ON BUDGET: ACTIVITY PACK The Scout Association Registered Charity Numbers 306101 (England and Wales) and SC038437 (Scotland). introduction If you had money to spend, what would you spend it on?
Building the Founda/on for the Next World Monetary System February 12, 2014
Building the Founda/on for the Next World Monetary System February 12, 2014 Nathan Lewis Kiku Capital Management LLC Gold: the Monetary Polaris (2013) www.newworldeconomics.com 1 Nathan Lewis, author Gold:
Chapter 10: Money and Banking Section 1
Chapter 10: Money and Banking Section 1 Objectives 1. Describe the three uses of money. 2. List the six characteristics of money. 3. Analyze the sources of money s values. Copyright Pearson Education,
STATISTICS ON REGISTERED COUNTERFEIT KUNA AND FOREIGN CURRENCY BANKNOTES. 1 January 30 June 2016
National Counterfeit, National Analysis and Coin National Analysis Centres STATISTICS ON REGISTERED COUNTERFEIT KUNA AND FOREIGN CURRENCY BANKNOTES Counterfeit kuna banknotes A total of 353 counterfeit
Inflation and exchange rate developments: The re-valued currency after one month John Robertson September 02, 2008
Inflation and exchange rate developments: The re-valued currency after one month John Robertson September 02, 2008 Despite the valiant efforts of optimists to endorse government s claims of changes for
STATISTICS ON REGISTERED COUNTERFEIT KUNA AND FOREIGN CURRENCY BANKNOTES
COUNTERFEIT PREVENTION AND CURRENCY ANALYSIS DIVISION STATISTICS ON REGISTERED COUNTERFEIT KUNA AND FOREIGN CURRENCY BANKNOTES 1 January 30 June 2018 CROATIAN NATIONAL BANK Currency Department www.hnb.hr
Essay by Hugo Salinas Price
Essay by Hugo Salinas Price Elements for monetizing the silver ounce in British Pounds 2 First condition The coin shall not bear an engraved monetary value. The Treasury will attribute a quote, a monetary
Silver? Smartest Coin Investors Know When It s Time to Buy. An exclusive sponsored report from our friends at
Gold or How Silver? the Smartest Coin Investors Know When It s Time to Buy An exclusive sponsored report from our friends at 2016 was a huge year for the precious metals market. You probably knew that.
MUSEUM SCAVENGER HUNT FOR MIDDLE SCHOOL STUDENTS
1. Alexander Hamilton was all of the following, EXCEPT: a) First United States Secretary of Treasury b) A founder of the Bank of the United States c) New York Delegate to the Constitutional Convention
News English.com Ready-to-use ESL / EFL Lessons
www.breaking News English.com Ready-to-use ESL / EFL Lessons The Breaking News English.com Resource Book 1,000 Ideas & Activities For Language Teachers http://www.breakingnewsenglish.com/book.html Russia
REMARKS PREPARED FOR DELIVERY BY GOVERNOR JIM FLORIO GOVERNOR S ECONOMIC CONFERENCE THURSDAY,OCTOBER 31, 1991
REMARKS PREPARED FOR DELIVERY BY GOVERNOR JIM FLORIO GOVERNOR S ECONOMIC CONFERENCE THURSDAY,OCTOBER 31, 1991 GOOD MORNING. THANK YOU, GEORGE, FOR THAT KIND INTRODTION. I AM HONORED TO HAVE THE OPPORTUNITY
Buy-and-hold investing: Inherent risks
Buy-and-hold investing: Inherent risks 121 Richmond Street West, Suite 1000, Toronto, ON M5H 2K1 647-748-4651 info@inukshukcapital.com www.inukshukcapital.com Buy-and-hold investing: Inherent risks Out
Selected Interest & Exchange Rates
Selected Interest & Exchange Rates Weekly Series of Charts I? r * :> / * -i' % JS-H \ ^ % kaj MAY 23, 1977 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS
GOLD AND HOW IT IS MANIPULATED. GOLD PRICE v WEIGHT
1 of 5 4/2/2013 7:02 PM GOLD AND HOW IT IS MANIPULATED Gold measured in Troy ounces Everything else is measured in Avoirdupois 1 troy pound = 5750 grains 1 Avdp. Pound = 7000 grains 1 troy ounce = 480
January December 2018
CASH DEPARTMENT COUNTERFEIT CURRENCY REPORT January December 2018 January 2019 Contents: 1. Expert analysis of banknotes and coins... 2 2. Expert analysis of foreign currency banknotes... 4 3. Ratio of
COUNTERFEIT CURRENCY REPORT
CASH DEPARTMENT COUNTERFEIT CURRENCY REPORT January March 2018 April 2018 Contents: 1 Expertise of dinar banknotes... 2 2 Expertise of foreign currency banknotes... 4 3 Ratio of counterfeit dinar to foreign
Why Now? an investment asset, and it s running out fast. But why isn t it already a hot commodity?
Why Silver? As you know, investments can be risky business. People in real estate, starting in about 2008, got stuck with the short end of a pretty volatile stick. Commodities investments can be more stable,
The Global Interdependence Center s Payment Systems in the Internet Age Conference
The Global Interdependence Center s Payment Systems in the Internet Age Conference San Diego, CA February 6, 2017 Patrick T. Harker President and Chief Executive Officer Federal Reserve Bank of Philadelphia
COUNTERFEIT CURRENCY REPORT
CASH DEPARTMENT COUNTERFEIT CURRENCY REPORT January March 2016 April 2016 Contents: 1. Expertise of dinar banknotes... 2 2. Expertise of foreign currency banknotes... 4 3. Ratio of counterfeit dinar to
Precious Metals News 30 th July 2011
Hello and welcome to the first CELTICGOLD newsletter. This free information is designed to inform you with the latest news in the precious metals markets and help to preserve your wealth. Three to four
COUNTERFEIT CURRENCY REPORT
CASH DEPARTMENT COUNTERFEIT CURRENCY REPORT January June 2016 July 2016 Contents: 1. Expertise of dinar banknotes... 2 2. Expertise of foreign currency banknotes... 4 3. Ratio of counterfeit dinar to foreign
Monetary Policy in the Gilded Age. Ms. Wallace Sobrato High School APUSH
Monetary Policy in the Gilded Age Ms. Wallace Sobrato High School APUSH The Gold Standard The gold standard means that any money issued must be backed up by actual gold that is held in storage. The gold
Table of Contents. ZenGold (ZNG) ZenGold Coin (ZGC)...05
Whitepaper Table of Contents ABSTRACT....01 ZEN ASSETS ON METAVERSE...02 ZENGOLD INTRODUCTION...04 ZENGOLD TOKENS EXPLANATION...05 ZenGold (ZNG)...05 ZenGold Coin (ZGC)...05 KEY PROCESSES...05 ZenGold
The seventh M&A wave. Marcos Cordeiro SEPTEMBER, 2014
SEPTEMBER, 2014 The seventh M&A wave Marcos Cordeiro The history of mergers and acquisitions is probably as long as commerce itself, and it is difficult to determine a date for the first case of a merger
THE BANKER'S LIFE BY GEORGE S. MOORE
THE BANKER'S LIFE BY GEORGE S. MOORE DOWNLOAD EBOOK : THE BANKER'S LIFE BY GEORGE S. MOORE PDF Click link bellow and free register to download ebook: THE BANKER'S LIFE BY GEORGE S. MOORE DOWNLOAD FROM
Workshops Proceedings of OeNB Workshops. Second Conference of the South-Eastern European Monetary History Network (SEEMHN) April 13, 2007
Workshops Proceedings of OeNB Workshops The Experience of Exchange Rate Regimes in Southeastern Europe in a Historical and Comparative Perspective Second Conference of the South-Eastern European Monetary
Dr. Greg Hallman Director, Real Estate Finance and Investment Center (REFIC) McCombs School of Business University of Texas at Austin
Dr. Greg Hallman Director, Real Estate Finance and Investment Center (REFIC) McCombs School of Business University of Texas at Austin POWERPOINT PARTNER } The US Economy today, with a close look at jobs
As economic activity grew and prices rose in the 1950s and early 1960s, the need for small- denomination currency grew at the same time that the price
As economic activity grew and prices rose in the 1950s and early 1960s, the need for small- denomination currency grew at the same time that the price of silver increased. The Treasury required silver
Working Paper Series* Department of Economics Alfred Lerner College of Business & Economics University of Delaware
Working Paper Series* Department of Economics Alfred Lerner College of Business & Economics University of Delaware Working Paper No. 2007-01 Benjamin Franklin And the Birth of a Paper Money Economy Farley
Topic 1 Purposes of money
Topic 1 Purposes of money Learning outcomes After studying this topic, students will be able to: define the purposes of money; and outline its key features. Introduction This topic explores the question,
Capcom Co., Ltd. Tokyo and Osaka Exchanges, First Section, rd Quarter Report Fiscal year ending March 31, 2010
Capcom Co., Ltd. Tokyo and Osaka Exchanges, First Section, 9697 3rd Quarter Report Fiscal year ending March 31, 2010 Precautions Concerning Forward-looking Statements Strategies, plans, outlooks and other
BANKING & MONETARY STATISTICS
Supplement to BANKING & MONETARY STATISTICS SECTION 11 Currency BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Preface In 1 the Board of Governors published Banking and Monetary Statistics to make available
A COMMUNITY STRATEGY TO PROTECT THE EURO PROGRAMMA PERICLES BANCA D ITALIA
A COMMUNITY STRATEGY TO PROTECT THE EURO PROGRAMMA PERICLES BANCA D ITALIA Rome, 30 November 1 December 2009 Regulation (EC) No. 1338/2001 layng down measures for the protection of the euro against counterfeiting
Dear Friends, January 2018
Dear Friends, January 2018 Precious metals were largely ignored last year with gold prices only rising about 8% compared to the 22% gain in the Dow. When you add to that the tremendous crypto currency
Curriculum Vitae. Money and Banking; Options and Futures; Financial markets and Investments.
Curriculum Vitae YORAM LANDSKRONER Address: Office Residence School of Business Administration 63 Yasmin St., P.O. Box 1148 Hebrew University of Jerusalem Mevasseret Zion 90805 Mount Scopus, Jerusalem
1oz Gold Kiwi Coin NZ Mint
ABOUT ORDER GOLD & SILVER NOW LIVE PRICES/CHARTS TODAY'S DEALS 1oz Gold Kiwi Coin NZ Mint 1oz Gold Kiwi Coin = $1875 2016 1oz Perth Mint Silver Kangaroo Coins 500 x 1oz Monster Box $13,258 Free Delivery
Gener ating Possibilities: WHAT ARE THE REAL RESOURCES AVAILABLE TO YOU? You have been doing some seriously powerful work. Congratulations!
MODULE 4 * TO USE THE INTERACTIVE FIELDS IN THIS DOCUMENT, PLEASE DOWNLOAD AND OPEN WITH ADOBE READER Gener ating Possibilities: WHAT ARE THE REAL RESOURCES AVAILABLE TO YOU? You have been doing some seriously
Unit 1: The Economic Fundamentals Weeks How does scarcity impact the decisions individuals and societies must make?
Economics Teacher: Vida Unit 1: The Economic Fundamentals Weeks 1-4 Essential Questions 1. How does scarcity impact the decisions individuals and societies must make? 2. What roles do individuals and businesses
Statement by. Philip E. Coldwell. Member, Board of Governors of the Federal Reserve System. before the
FOR RELEASE ON DELIVERY Statement by Philip E. Coldwell Member, Board of Governors of the Federal Reserve System before the Subcommittee on Historic Preservation and Coinage Committee on Banking, Finance
COUNTERFEIT CURRENCY REPORT
CASH DEPARTMENT COUNTERFEIT CURRENCY REPORT January December 2017 January 2018 Contents: 1 Expertise of dinar banknotes... 2 2 Expertise of foreign currency banknotes... 4 3 Ratio of dinar to foreign currency
Analyze whether the People s Republic of China Government should issue currency with larger face value
2017 Analyze whether the People s Republic of China Government should issue currency with larger face value Good Hope School Ruby Leung Tiana Tsang Clarissa Wong Priscilla Yeung Background In 1984, China
My First Book Of Money: Counting Coins PDF
My First Book Of Money: Counting Coins PDF Using Kumons step-by-step, incremental approach, this workbook introduces children to the concept of money by giving them plenty of practice working with each
202, million 2.1. Our scale, our diversification and the predictability of our business give us strong foundations on which to innovate
In 2017 we obtained excellent results the right way: through profitable growth Ana Botín, Group executive chairman of Banco Santander Our success in 2017 shows that our way of doing business, and our focus
Money How to Make It Keep It Grow It! By DC Cordova Excellerated Business Schools/Money & You Program
Special Report Habits For Success Money How to Make It Keep It Grow It! By DC Cordova Excellerated Business Schools/Money & You Program http:// Personal Habits Money Habits (including Financial Stewardship
American Eagle. Platinum Bullion Coins
American Eagle Platinum Bullion Coins When You Invest in platinum, Choose Eagles FIRST Discovered by Conquistadors in the 1500s, platinum is the newest, rarest, and usually most valuable of the precious
FIND THE WAY OUT OF MAZE
OCTOBER 2015 FIND THE WAY OUT OF MAZE China Economy and Industry Outlook Paul Pang Vice President IHS Chemical +86 21 2422 9016 Paul.pang@ihs.com. ALL RIGHTS RESERVED. Agenda China Economy Sector Review
Draft COMMISSION RECOMMENDATION. on the scope and effects of legal tender of euro banknotes and coins
EUROPEAN COMMISSION Brussels, xxx C(20..) yyy final Draft COMMISSION RECOMMDATION of [ ] on the scope and effects of legal tender of euro banknotes and coins Draft COMMISSION RECOMMDATION of [ ] on the
Appendix B. Alternative Money. Bons and tokens
Appendix B Alternative Money This history has focused on legal tender money in Canada, that is to say money that has been approved by the authorities for paying debts or settling transactions. Canada also
THE MACROECONOMICS OF THE GLOBAL TECHNOLOGY ECONOMY. Howard A. Rubin
THE MACROECONOMICS OF THE GLOBAL TECHNOLOGY Howard A. Rubin well surpassing such investment by the United States and every other country. The Dow Jones Industrial index no longer exists, replaced by a
A NEW INDUSTRIAL AGE
A NEW INDUSTRIAL AGE 1870-1900 EXPANSION OF INDUSTRY New innovations and inventions lead to the growth of industry and changes in the American economy. I. Expansion of Industry After the Civil War, the
Much Dollar Bill Worth Today
Much 1932 10 Dollar Bill Worth Today Find great deals on ebay for 500 Dollar Bill in Federal Reserve Paper Money Notes. AC 1934A $500 FIVE HUNDRED DOLLAR BILL San Francisco PCGS 25 10 watching Their worth
CEE Analytics Midstream. Initiation, Realizations RESEARCH OBJECTIVES
CEE Analytics Midstream Conclusions/Concerns 1. Vicious cycle: MLP s need more DCF (distributable cash flow) to pay unit holders thereby requiring more capital to build or buy additional assets to increase
Edward E. Popp Library of Congress Catalog Card Number: International Standard Book Number (ISBN):
This book is dedicated to all persons who produce and distribute useful goods and to all who render useful services. They are the producers of the wealth of the nation. May they learn how to issue and
The Value of Currency in World of Warcraft
IBIMA Publishing Journal of Internet Social Networking & Virtual Communities http://ibimapublishing.com/articles/jisnvc/2018/672253/ Vol. 2018 (2018), Article ID 672253, 13 pages DOI: Research Article
Belgium % Germany % Greece % Spain % France % Ireland % Italy % Cyprus % Luxembourg 0.
ISSUE OF BANKNOTES IN THE EUROSYSTEM Euro banknotes 1 represent a legal tender in all the participating member states; freely circulating within the euro area; they are reissued by members of the Eurosystem
The Radcliff-Schatzman Group at Morgan Stanley Smith Barney
The Radcliff-Schatzman Group at Morgan Stanley Smith Barney 11 North Water Street Suite 16290, Mobile, Alabama 36602 251-470-1060 / Main 251-470-1100 / fax fa.smithbarney.com/theradcliffgroupsb The Radcliff-Schatzman
CENTRAL BANK OF MALTA
CENTRAL BANK OF MALTA DIRECTIVE NO 10 in terms of the CENTRAL BANK OF MALTA ACT (CAP. 204) AUTHENTICATION, FITNESS CHECKING AND RECIRCULATION OF EURO BANKNOTES AND COINS Ref: CBM/10 DIRECTIVE NO 10 DIRECTIVE
Current Trends PENNIES AND PAPER PIGS. Objectives
PENNIES AND PAPER PIGS Objectives Identify current trends in payment of fines and cost in currency. Define laws and legal authority pertaining to accepting coins, cash and other methods of payments. List
Study Query. A New World Awaits
A New World Awaits Study Query A New World Awaits Congratulations on your decision to study overseas. You will be taking the first steps towards a new life and abundant opportunities. You will have many
A company where growth and returns go hand in hand
Breath to your Investment Tarun Aggarwal s Sanjivani Stock E-Mail id- sanjivanistock@gmail.com July 21, 2011 CMP-Rs.305/- Target Price Rs.1000/- (Time Frame 3-4 yrs) Research report on Selan Exploration
KKR Credit Advisors (Ireland) Unlimited Company PILLAR 3 DISCLOSURES
KKR Credit Advisors (Ireland) Unlimited Company KKR Credit Advisors (Ireland) Unlimited Company PILLAR 3 DISCLOSURES JUNE 2017 1 1. Background The European Union Capital Requirements Directive ( CRD or
The Klausner & Duffy Investment Group at Morgan Stanley Smith Barney
The Klausner & Duffy Investment Group at Morgan Stanley Smith Barney 800 East 96th Street Suite 400, Indianapolis, Indiana 46240 317-818-7300 / Main 888-930-0159 / Toll-Free 317-818-7440 / fax jonathan.klausner@mssb.com
Japan s business system has changed significantly since 2000, shifting toward
1 Continuity and Change in Japan s Ecosystem for Venture-Capital backed Start-up Companies: Encouraging the Creation of Firms to Stimulate Economic Growth and Jobs Japan s business system has changed significantly
MONEY CONVERSION ACTIVITY
SOCIAL STUDIES: African-American history; global economics MATHEMATICS: Money conversion; division; multiplication LANGUAGE ARTS: Essay-writing skills AIM: Students perform money conversions while visiting
EXPLANATORY MEMORANDUM for the Regulation on a Common Monetary System for Curaçao and Sint Maarten
TRANSLATION OF THE OFFICIAL PUBLICATION OF SINT MAARTEN EXPLANATORY MEMORANDUM for the Regulation on a Common Monetary System for Curaçao and Sint Maarten Purpose and objective The purpose of this draft
Interim Report January March
Report on 1996 Operations 97 Interim Report January March Continued stable earnings during first quarter of 1997. Higher operating income despite modest decline in sales. Decline in cigarette sales in
MNB Decree No 3/2009 (I. 23.) of the Governor of the MNB
MNB Decree No 3/2009 (I. 23.) of the Governor of the MNB on the processing and distribution of coins, and on technical tasks relating to the protection of coins against counterfeiting Having regard to
MINUTO CASH A NEW MEANS OF PAYMENT SELF-ISSUED AND FOR ALL REGIONS
MINUTO CASH A NEW MEANS OF PAYMENT SELF-ISSUED AND FOR ALL REGIONS The Minuto Concept The use of new means of payment needs a revision of our relationship to the topic of money. Increasingly, people are
Business Toolbar Icons
www.perfecticon.com Business Toolbar Icons Developing a business or financial product? Making an accounting or trading tool? Let your product stand out with its professional look and feel! The readily
Seven Forms of Wealth Continuum
Seven Forms of Wealth Continuum WORKSHEET Objective: This tool was designed to allow anyone interested in the wealth creation approach to assess the work they are already doing to see how that work is
Welcome to A & W Math 10 at Navigate School! Please note that this First Assignment is a requirement to be registered in the course.
Welcome to A & W Math 10 at Navigate School! Please note that this First Assignment is a requirement to be registered in the course. Legal last name: First name: Other last name: Home phone#: Middle name:
Textron Reports Third Quarter 2014 Income from Continuing Operations of $0.57 per Share, up 62.9%; Revenues up 18.1%
Textron Reports Third Quarter Income from Continuing Operations of $0.57 per Share, up 62.9%; Revenues up 18.1% 10/17/ PROVIDENCE, R.I.--(BUSINESS WIRE)-- Textron Inc. (NYSE: TXT) today reported third
Plan I. Fostering innovation for long-term growth. 5 February Stian Westlake, Exec Dir of Policy &
Plan I Fostering innovation for long-term growth 5 February 2013 Stian Westlake, Exec Dir of Policy & Research @stianwestlake 1 Two plans dominate the debate Plan A : Austerity Plan B : Stimulus Cut government