Regional Banks Quotes

I dreamed I saw my maternal grandmother sitting by the bank of a swimming pool, that was also a river. In real life, she had been a victim of Alzheimer’s disease, and had regressed, before her death, to a semi-conscious state. In the dream, as well, she had lost her capacity for self-control. Her genital region was exposed, dimly; it had the appearance of a thick mat of hair. She was stroking herself, absent-mindedly. She walked over to me, with a handful of pubic hair, compacted into something resembling a large artist’s paint-brush. She pushed this at my face. I raised my arm, several times, to deflect her hand; finally, unwilling to hurt her, or interfere with her any farther, I let her have her way. She stroked my face with the brush, gently, and said, like a child, “isn’t it soft?” I looked at her ruined face and said, “yes, Grandma, it’s soft.

Once the caravan reached the Kashmir Valley between the Great Himalayas and the Pir Panjal Range, in the northernmost region of the Indian subcontinent, Jesus continued the journey with a small group of locals until he completed the last leg on his own, guided from one place to another by the local people. Some weeks later, he made it to the Indian Himalayan region where Jesus was greeted by some Buddhist monks and with whom he sojourned for some time. From that location, he then went to live in the city of Rishikesh, in India's northern state of Uttarakhand, spending most of his time meditating in a cave known as Vashishta Gufa, on the banks of the River Ganga. Jesus lived in those lands for many months before he continued traveling to the northeast, until he arrived in the Kingdom of Magadha, in what is presently West-central Bihar. It so happened that it was here, in Magadha, that Jesus met Mari for the first time, the woman better known today as Mary Magdalene...

Truly landlocked people know they are. Know the occasional Bitter Creek or Powder River that runs through Wyoming; that the large tidy Salt Lake of Utah is all they have of the sea and that they must content themselves with bank, shore, beach because they cannot claim a coast. And having none, seldom dream of flight. But the people living in the Great Lakes region are confused by their place on the country’s edge - an edge that is border but not coast. They seem to be able to live a long time believing, as coastal people do, that they are at the frontier where final exit and total escape are the only journeys left. But those five Great Lakes which the St. Lawrence feeds with memories of the sea are themselves landlocked, in spite of the wandering river that connects them to the Atlantic. Once the people of the lake region discover this, the longing to leave becomes acute, and a break from the area, therefore, is necessarily dream-bitten, but necessary nonetheless.

Long before it was known to me as a place where my ancestry was even remotely involved, the idea of a state for Jews (or a Jewish state; not quite the same thing, as I failed at first to see) had been 'sold' to me as an essentially secular and democratic one. The idea was a haven for the persecuted and the survivors, a democracy in a region where the idea was poorly understood, and a place where—as Philip Roth had put it in a one-handed novel that I read when I was about nineteen—even the traffic cops and soldiers were Jews. This, like the other emphases of that novel, I could grasp. Indeed, my first visit was sponsored by a group in London called the Friends of Israel. They offered to pay my expenses, that is, if on my return I would come and speak to one of their meetings. I still haven't submitted that expenses claim. The misgivings I had were of two types, both of them ineradicable. The first and the simplest was the encounter with everyday injustice: by all means the traffic cops were Jews but so, it turned out, were the colonists and ethnic cleansers and even the torturers. It was Jewish leftist friends who insisted that I go and see towns and villages under occupation, and sit down with Palestinian Arabs who were living under house arrest—if they were lucky—or who were squatting in the ruins of their demolished homes if they were less fortunate. In Ramallah I spent the day with the beguiling Raimonda Tawil, confined to her home for committing no known crime save that of expressing her opinions. (For some reason, what I most remember is a sudden exclamation from her very restrained and respectable husband, a manager of the local bank: 'I would prefer living under a Bedouin muktar to another day of Israeli rule!' He had obviously spent some time thinking about the most revolting possible Arab alternative.) In Jerusalem I visited the Tutungi family, who could produce title deeds going back generations but who were being evicted from their apartment in the old city to make way for an expansion of the Jewish quarter. Jerusalem: that place of blood since remote antiquity. Jerusalem, over which the British and French and Russians had fought a foul war in the Crimea, and in the mid-nineteenth century, on the matter of which Christian Church could command the keys to some 'holy sepulcher.' Jerusalem, where the anti-Semite Balfour had tried to bribe the Jews with the territory of another people in order to seduce them from Bolshevism and continue the diplomacy of the Great War. Jerusalem: that pest-house in whose environs all zealots hope that an even greater and final war can be provoked. It certainly made a warped appeal to my sense of history.

Another thing they talk about a lot is water—and that’s a very crucial thing, which is not discussed very much in the United States but it’s probably the main reason why Israel is never going to give up the West Bank. See, this is a very arid region, so water is more important than oil, and there are very limited water resources in Israel. In fact, a lot of the wars in the Middle East have been about water—for instance, the wars involving Israel and Syria have usually been about the headwaters of the Jordan, which come from Syria, Jordan, and Lebanon. And as a matter of fact, one of the main reasons why Israel is holding on to the so-called “Security Zone” it seized in southern Lebanon [in the 1982 invasion] is that that area includes a mountain, Mount Hermon, which is a big part of the watershed that brings water to the region.

The United States thus achieved what no earlier imperial system had put in place: a flexible form of global exploitation that controlled debtor countries by imposing the Washington Consensus via the IMF and World Bank, while the Treasury bill standard obliged the payments-surplus nations of Europe and East Asia to extend forced loans to the U.S. Government. Against dollar-deficit regions the United States continued to apply the classical economic leverage that Europe and Japan were not able to use against it. Debtor economies were forced to impose economic austerity to block their own industrialization and agricultural modernization. Their designated role was to export raw materials and provide low-priced labor whose wages were denominated in depreciating currencies. Against dollar-surplus nations the United States was learning to apply a new, unprecedented form of coercion. It dared the rest of the world to call its bluff and plunge the international economy into monetary crisis. That is what would have happened if creditor nations had not channeled their surplus savings to the United States by buying its Government securities.

I think of two landscapes- one outside the self, the other within. The external landscape is the one we see-not only the line and color of the land and its shading at different times of the day, but also its plants and animals in season, its weather, its geology… If you walk up, say, a dry arroyo in the Sonoran Desert you will feel a mounding and rolling of sand and silt beneath your foot that is distinctive. You will anticipate the crumbling of the sedimentary earth in the arroyo bank as your hand reaches out, and in that tangible evidence you will sense the history of water in the region. Perhaps a black-throated sparrow lands in a paloverde bush… the smell of the creosote bush….all elements of the land, and what I mean by “the landscape.” The second landscape I think of is an interior one, a kind of projection within a person of a part of the exterior landscape. Relationships in the exterior landscape include those that are named and discernible, such as the nitrogen cycle, or a vertical sequence of Ordovician limestone, and others that are uncodified or ineffable, such as winter light falling on a particular kind of granite, or the effect of humidity on the frequency of a blackpoll warbler’s burst of song….the shape and character of these relationships in a person’s thinking, I believe, are deeply influenced by where on this earth one goes, what one touches, the patterns one observes in nature- the intricate history of one’s life in the land, even a life in the city, where wind, the chirp of birds, the line of a falling leaf, are known. These thoughts are arranged, further, according to the thread of one’s moral, intellectual, and spiritual development. The interior landscape responds to the character and subtlety of an exterior landscape; the shape of the individual mind is affected by land as it is by genes. Among the Navajo, the land is thought to exhibit sacred order…each individual undertakes to order his interior landscape according to the exterior landscape. To succeed in this means to achieve a balanced state of mental health…Among the various sung ceremonies of this people-Enemyway, Coyoteway, Uglyway- there is one called Beautyway. It is, in part, a spiritual invocation of the order of the exterior universe, that irreducible, holy complexity that manifests itself as all things changing through time (a Navajo definition of beauty).

A truly International Monetary System would be one where the whole world possessed a homogeneous currency such as obtains within separate countries and where its flow between regions was left to be determined by the results of the action of all individuals.5

The Marine Corps assumes maximum ignorance from its enlisted folks. It assumes that no one taught you anything about physical fitness, personal hygiene, or personal finances. I took mandatory classes about balancing a checkbook, saving, and investing. When I came home from boot camp with my fifteen-hundred-dollar earnings deposited in a mediocre regional bank, a senior enlisted marine drove me to Navy Federal—a respected credit union—and had me open an account. When I caught strep throat and tried to tough it out, my commanding officer noticed and ordered me to the doctor. We

The most surprising result to come out of these global genetic studies is that the human species is exceedingly uniform. Despite superficial regional differences in hair and skin colour, or skull shape, the genetic diversity among the 7.5 billion humans living in the world today is astonishingly low.30 In fact, there’s more genetic diversity between two groups of chimpanzees living on opposite banks of a river in Central Africa than there is between humans on opposite sides of the world.31

You’d think someone as resourceful as Rachel would know whether or not Toraf was the identical twin of a known terrorist. But nooooo. So we wait by our guard in the corridor of the security office of LAX airport while about a dozen people work to verify our identity. My identity comes back fine and clean and boring. Toraf’s identity doesn’t come back for a few hours. Which is not cool, because he’s been puking in the trash can next to our bench seats and it’s got to be almost full by now. Because of the regional storms in Jersey, we’d had a rough takeoff. Coupled with the reaction Toraf had to the Dramamine-excitability, no less-it was all I could do to coax him out of the tiny bathroom to get him to sit still and not puke while doing so. His fingerprints could not be matched and his violet eyes were throwing them for a loop, since they physically verified that they aren’t contacts. A lady security officer asked us several times in several different ways why our tickets would be one-way to Hawaii if we lived in Jersey and only had a carry-on bag full of miscellaneous crap that you don’t really need. Where were we going? What were we doing? I’d told them we were going to Honolulu to pick a place to get married and weren’t in a hurry to come back, so we only purchased one-way tickets and blah blah blah. It’s a BS story and they know it, but sometimes BS stories can’t be proven false. Finally, I asked for an attorney, and since they hadn’t charged us with anything, and couldn’t charge us with anything, they decided to let us go. For crying out loud. I can’t decide if I’m relieved or nervous that Toraf’s seat is a couple of rows back on our flight to Honolulu. On the plus side, I don’t have to be bothered every time he goes to the bathroom to upchuck. Then again, I can’t keep my eye on him, either, in case he doesn’t know how to act or respond to nosy strangers who can’t mind their own business. I peek around my seat and roll my eyes. He’s seated next to two girls, about my age and obviously traveling together, and they’re trying nonstop to start a conversation with him. Poor, poor Toraf. It must be a hard-knock life to have inherited the exquisite Syrena features. It’s all he can do not to puke in their laps. A small part of me wishes that he would, so they’d shut up and leave him alone and I could maybe close my eyes for two seconds. From here I can hear him squirm in his seat, which is about four times too small for a built Syrena male. His shoulder and biceps protrude into the aisle, so he’s constantly getting bumped. Oy.

Rayna does not get sick on planes. Also, Rayna does not stop talking on planes. By the time we land at Okaloosa Regional Airport, I’m wondering if I’ve spoken as many words in my entire life as she did on the plane. With no layovers, it was the longest forty-five minutes of my whole freaking existence. I can tell Rachel’s nerves are also fringed. She orders an SUV limo-Rachel never does anything small-to pick us up and insists that Rayna try the complimentary champagne. I’m fairly certain it’s the first alcoholic beverage Rayna’s ever had, and by the time we reach the hotel on the beach, I’m all the way certain. As Rayna snores in the seat across from me, Rachel checks us into the hotel and has our bags taken to our room. “Do you want to head over to the Gulfarium now?” she asks. “Or, uh, rest up a bit and wait for Rayna to wake up?” This is an important decision. Personally, I’m not tired at all and would love to see a liquored-up Rayna negotiate the stairs at the Gulfarium. But I’d feel a certain guilt if she hit her hard head on a wooden rail or something and then we’d have to pay the Gulfarium for the damages her thick skull would surely cause. Plus, I’d have to suffer a reproving look from Dr. Milligan, which might actually hurt my feelings because he reminds me a bit of my dad. So I decide to do the right thing. “Let’s rest for a while and let her snap out of it. I’ll call Dr. Milligan and let him know we’ve checked in.” Two hours later, Sleeping Beast wakes up and we head to see Dr. Milligan. Rayna is particularly grouchy when hungover-can you even get hungover from drinking champagne?-so she’s not terribly inclined to be nice to the security guard who lets us in. She mutters something under her breath-thank God she doesn’t have a real voice-and pushes past him like the spoiled Royalty she is. I’m just about aggravated beyond redemption-until we see Dr. Milligan in a new exhibit of stingrays. He coos and murmurs as if they’re a litter of puppies in the tank begging to play with him. When he notices our arrival he smiles, and it feels like a coconut slushy on a sweltering day and it almost makes up for the crap I’ve been put through these past few days.

Farmers in the South, West, and Midwest, however, were still building a major movement to escape from the control of banks and merchants lending them supplies at usurious rates; agricultural cooperatives—cooperative buying of supplies and machinery and marketing of produce—as well as cooperative stores, were the remedy to these conditions of virtual serfdom. While the movement was not dedicated to the formation of worker co-ops, in its own way it was at least as ambitious as the Knights of Labor had been. In the late 1880s and early 1890s it swept through southern and western states like a brushfire, even, in some places, bringing black and white farmers together in a unity of interest. Eventually this Farmers’ Alliance decided it had to enter politics in order to break the power of the banks; it formed a third party, the People’s Party, in 1892. The great depression of 1893 only spurred the movement on, and it won governorships in Kansas and Colorado. But in 1896 its leaders made a terrible strategic blunder in allying themselves with William Jennings Bryan of the Democratic party in his campaign for president. Bryan lost the election, and Populism lost its independent identity. The party fell apart; the Farmers’ Alliance collapsed; the movement died, and many of its cooperative associations disappeared. Thus, once again, the capitalists had managed to stomp out a threat to their rule.171 They were unable to get rid of all agricultural cooperatives, however, even with the help of the Sherman “Anti-Trust” Act of 1890.172 Nor, in fact, did big business desire to combat many of them, for instance the independent co-ops that coordinated buying and selling. Small farmers needed cooperatives in order to survive, whether their co-ops were independent or were affiliated with a movement like the Farmers’ Alliance or the Grange. The independent co-ops, moreover, were not necessarily opposed to the capitalist system, fitting into it quite well by cooperatively buying and selling, marketing, and reducing production costs. By 1921 there were 7374 agricultural co-ops, most of them in regional federations. According to the census of 1919, over 600,000 farmers were engaged in cooperative marketing or purchasing—and these figures did not include the many farmers who obtained insurance, irrigation, telephone, or other business services from cooperatives.173

Chomsky was born and raised in Philadelphia, but his parents were among tens of thousands of Ashkenazic Jews who fled Russia following the assassination of Czar Alexander II in 1881.110 Jewish anarchists were singled out (falsely) as the assassins, setting off waves of the bloodiest pogroms in history. On top of that, thousands of Jews were forcibly removed from their homes in Moscow, Saint Petersburg, and adjoining regions and led off, some in chains, to the so-called Pale of Settlement, a geographical ghetto along Russia’s western frontier. They risked severe punishment if they ventured beyond the Pale…pale, as in the pales of a fence. Even inside the Pale they were restricted from entering cities such as Kiev and Nikolaev, from owning or even leasing property, receiving a college education, or engaging in certain professions. By 1910, 90 percent of Russia’s Jews—5.6 million in all—were confined to the Pale.111 Anarchism had been a logical enough reaction. The word “anarchy” literally means “without rulers.” The Jewish refugees from Russian racial hatred translated that as not merely no more czars…but no more authorities of any sort…no public officials, no police, no army, no courts of law, no judges, no jailers, no banks—no money—no financial

The easiest way to run developmentally efficient finance continues to be through a banking system, because it is banks that can most easily be pointed by governments at the projects necessary to agricultural and industrial development. Most obviously, banks respond to central bank guidance. They can be controlled via rediscounting loans for exports and for industrial upgrading, with the system policed through requirements for export letters of credit from the ultimate borrowers. The simplicity and bluntness of this mechanism makes it highly effective. Bond markets, and particularly stock markets, are harder for policymakers to control. The main reason is that it is difficult to oversee the way in which funds from bond and stock issues are used. It is, tellingly, the capacity of bank-based systems for enforcing development policies that makes entrepreneurs in developing countries lobby so hard for bond, and especially stock, markets to be expanded. These markets are their means to escape government control. It is the job of governments to resist entrepreneurs’ lobbying until basic developmental objectives have been achieved. Equally, independent central banks are not appropriate to developing countries until considerable economic progress has been made.

We had come to see the work of Wedco, a small bank – micro-finance institution is the formal term – that has been one of CARE’s great success stories in the region. Wedco began in 1989 with the idea of making small loans to groups of ladies, generally market traders, who previously had almost no access to business credit. The idea was that half a dozen or so female traders would form a business club and take out a small loan, which they would apportion among themselves, to help them expand or improve their businesses. The idea of having a club was to spread the risk. It seemed a slightly loopy idea to many to focus exclusively on females, but it has been a runaway success.

Sometimes I speak to various regional banks, the ones that are not afraid of bitcoin. They tell me things like 80 percent of our population is a hundred miles from the nearest bank branch and we can’t serve them. In one case, they said a hundred miles by canoe. I’ll let you guess which country that was. Yet, even in the remotest places on Earth, now there is a cell-phone tower. Even in the poorest places on Earth, we often see a little solar panel on a little hut that feeds a Nokia 1000 phone, the most produced device in the history of manufacturing, billions of them have shipped. We can turn every one of those into, not a bank account, but a bank. Two weeks ago, President Obama at South by Southwest did a presentation and he talked about our privacy. He said, ”If we can’t unlock the phones, that means that everyone has a Swiss bank account in their pocket." That is not entirely accurate. I don’t have a Swiss bank account in my pocket. I have a Swiss bank, with the ability to generate 2 billion addresses off a single seed and use a different address for every transaction. That bank is completely encrypted, so even if you do unlock the phone, I still have access to my bank. That represents the cognitive dissonance between the powers of centralized secrecy and the power of privacy as a human right that we now have within our grasp. If you think this is going to be easy or that it’s going to be without struggle, you’re very mistaken.

He was now in full possession of his physical senses. They were, indeed, preternaturally keen and alert. Something in the awful disturbance of his organic system had so exalted and refined them that they made record of things never before perceived. He felt the ripples upon his face and heard their separate sounds as they struck. He looked at the forest on the bank of the stream, saw the individual trees, the leaves and the veining of each leaf -- he saw the very insects upon them: the locusts, the brilliant bodied flies, the gray spiders stretching their webs from twig to twig. He noted the prismatic colors in all the dewdrops upon a million blades of grass. The humming of the gnats that danced above the eddies of the stream, the beating of the dragon flies' wings, the strokes of the water spiders' legs, like oars which had lifted their boat -- all these made audible music. A fish slid along beneath his eyes and he heard the rush of its body parting the water... He had not known that he lived in so wild a region.

By the end of the 1970s, a clear majority of the employed population of Britain, Germany, France, the Benelux countries, Scandinavia and the Alpine countries worked in the service sector—communications, transport, banking, public administration and the like. Italy, Spain and Ireland were very close behind. In Communist Eastern Europe, by contrast, the overwhelming majority of former peasants were directed into labour-intensive and technologically retarded mining and industrial manufacture; in Czechoslovakia, employment in the tertiary, service sector actually declined during the course of the 1950s. Just as the output of coal and iron-ore was tailing off in mid-1950s Belgium, France, West Germany and the UK, so it continued to increase in Poland, Czechoslovakia and the GDR. The Communists’ dogmatic emphasis on raw material extraction and primary goods production did generate rapid initial growth in gross output and per capita GDP. In the short run the industrial emphasis of the Communist command economies thus appeared impressive (not least to many Western observers). But it boded ill for the region’s future.

Neoliberal economics, the logic of which is tending today to win out throughout the world thanks to international bodies like the World Bank or the International Monetary Fund and the governments to whom they, directly or indirectly, dictate their principles of ‘governance’,10 owes a certain number of its allegedly universal characteristics to the fact that it is immersed or embedded in a particular society, that is to say, rooted in a system of beliefs and values, an ethos and a moral view of the world, in short, an economic common sense, linked, as such, to the social and cognitive structures of a particular social order. It is from this particular economy that neoclassical economic theory borrows its fundamental assumptions, which it formalizes and rationalizes, thereby establishing them as the foundations of a universal model. That model rests on two postulates (which their advocates regard as proven propositions): the economy is a separate domain governed by natural and universal laws with which governments must not interfere by inappropriate intervention; the market is the optimum means for organizing production and trade efficiently and equitably in democratic societies. It is the universalization of a particular case, that of the United States of America, characterized fundamentally by the weakness of the state which, though already reduced to a bare minimum, has been further weakened by the ultra-liberal conservative revolution, giving rise as a consequence to various typical characteristics: a policy oriented towards withdrawal or abstention by the state in economic matters; the shifting into the private sector (or the contracting out) of ‘public services’ and the conversion of public goods such as health, housing, safety, education and culture – books, films, television and radio – into commercial goods and the users of those services into clients; a renunciation (linked to the reduction in the capacity to intervene in the economy) of the power to equalize opportunities and reduce inequality (which is tending to increase excessively) in the name of the old liberal ‘self-help’ tradition (a legacy of the Calvinist belief that God helps those who help themselves) and of the conservative glorification of individual responsibility (which leads, for example, to ascribing responsibility for unemployment or economic failure primarily to individuals, not to the social order, and encourages the delegation of functions of social assistance to lower levels of authority, such as the region or city); the withering away of the Hegelian–Durkheimian view of the state as a collective authority with a responsibility to act as the collective will and consciousness, and a duty to make decisions in keeping with the general interest and contribute to promoting greater solidarity. Moreover,

The inescapable and troublesome conclusion was that if there was a political entity in tenth-century Judea, it was a small tribal kingdom, and that Jerusalem was a fortified stronghold. It is possible that the tiny kingdom was ruled by a dynasty known as the House of David. An inscription discovered in Tell Dan in 1993 supports this assumption, but this kingdom of Judah was greatly inferior to the kingdom of Israel to its north, and apparently far less developed. The documents from el-Amarna, dating from the fourteenth century BCE, indicate that already there were two small city-states in the highlands of Canaan—Shechem and Jerusalem—and the Merneptah stela shows that an entity named Israel existed in northern Canaan at the end of the thirteenth century BCE. The plentiful archaeological finds unearthed in the West Bank during the 1980s reveal the material and social difference between the two mountain regions. Agriculture thrived in the fertile north, supporting dozens of settlements, whereas in the south there were only some twenty small villages in the tenth and ninth centuries BCE. The kingdom of Israel was already a stable and strong state in the ninth century, while the kingdom of Judah consolidated and grew strong only by the late eighth. There were always in Canaan two distinct, rival political entities, though they were culturally and linguistically related—variants of ancient Hebrew were spoken by the inhabitants of both.

As a method of warfare with “beyond limits” as its major feature, its principle is to assemble and blend together more means to resolve a problem in a range wider than the problem itself. For example, when national is threatened, the answer is not simply a matter of selecting the means to confront the other nation militarily, but rather a matter of dispelling the crisis through the employment of “supra-national combinations.” We see from history that the nation-state is the highest form of the idea of security. For Chinese people, the nation-state even equates to the great concept of all-under-heaven [tianxia, classical name for China]. Nowadays, the significance of the word “country” in terms of nationality or geography is no more than a large or small link in the human society of the “world village.” Modern countries are affected more and more by regional or world-wide organizations, such as the European Community [sic; now the European Union], ASEAN, OPEC, APEC, the International Monetary Fund, the World Bank, the WTO, and the biggest of them all, the United Nations. Besides these, a large number of multinational organizations and non-state organizations of all shapes and sizes, such as multinational corporations, trade associations, peace and environmental organizations, the Olympic Committee, religious organizations, terrorist organizations, small groups of hackers, etc., dart from left and right into a country’s path. These multinational, non-state, and supra-national organizations together constitute an up and coming worldwide system of power.3

The power of the big fish in general to regroup is hardly restricted to banking. When Standard Oil was broken up in 1911, the immediate effect was to replace a national monopoly with a number of regional monopolies controlled by many of the same Wall Street interests. Ultimately, the regional monopolies regrouped: In 1999 Exxon (formerly Standard Oil Company of New Jersey) and Mobil (formerly Standard Oil Company of New York) reconvened in one of the largest mergers in US history. In 1961 Kyso (formerly Standard Oil of Kentucky) was purchased by Chevron (formerly Standard Oil of California); and in the 1960s and 1970s Sohio (formerly Standard Oil of Ohio) was bought by British Petroleum (BP), which then, in 1998, merged with Amoco (formerly Standard Oil of Indiana). The tale of AT&T is similar. As the result of an antitrust settlement with the government, on January 1, 1984, AT&T spun off its local operations so as to create seven so-called Baby Bells. But the Baby Bells quickly began to merge and regroup. By 2006 four of the Baby Bells were reunited with their parent company AT&T, and two others (Bell Atlantic and NYNEX) merged to form Verizon. So the hope that you can make a banking breakup stick (even if it were to be achieved) flies in the face of some pretty daunting experience. Also, note carefully a major political fact: The time when traditional reformers had enough power to make tough banking regulation really work was the time when progressive politics still had the powerful institutional backing of strong labor unions. But as we have seen, that time is long ago and far away.

The carciofini were good at the moment, no doubt about it, particularly the romagnolo, a variety of artichoke exclusive to the region, so sweet and tender it could even be eaten raw. Puntarelle, a local bitter chicory, would make a heavenly salad. In the Vini e Olio he found a rare Torre Ercolana, a wine that combined Cabernet and Merlot with the local Cesanese grape. The latter had been paired with the flavors of Roman cuisine for over a thousand years: they went together like an old married couple. There was spring lamb in abundance, and he was able to track down some good abbachio, suckling lamb that had been slaughtered even before it had tasted grass. From opportunities like these, he began to fashion a menu, letting the theme develop in his mind. A Roman meal, yes, but more than that. A springtime feast, in which every morsel spoke of resurgence and renewal, old flavors restated with tenderness and delicacy, just as they had been every spring since time began. He bought a bottle of oil that came from a tiny estate he knew of, a fresh pressing whose green, youthful flavors tasted like a bowl of olives just off the tree. He hesitated before a stall full of fat white asparagus from Bassano del Grappa, on the banks of the fast-flowing river Brenta. It was outrageously expensive, but worth it for such quality, he decided, as the stallholder wrapped a dozen of the pale spears in damp paper and handed it to Bruno with a flourish, like a bouquet of the finest flowers. His theme clarified itself the more he thought about it. It was to be a celebration of youth---youth cut short, youth triumphant, youth that must be seized and celebrated.

The Israeli border police guarding the central region near the Jordanian border had been told to take all measures necessary to keep order that evening. The local colonel, Issachar Shadmi, decided that this meant setting a curfew for Palestinian Arab villages, from five p.m. to six a.m. The news of the curfew was broadcast over the radio the same day it went into force. The border police unit commanders in the region were informed of the order by their commanding officer, Major Shmuel Malinki. Malinki implied that, in the event of anyone breaking the curfew, the police could shoot to kill. Several platoons were charged with informing villagers in person. At the village of Kfar Kassem (or Kafr Qasim), close to the border with the Jordanian-controlled West Bank, a platoon arrived to announce the news—but too late in the day. They were told that many of the village’s agricultural workers were already out at work, mostly picking olives. After five p.m., the villagers returned as expected: a mixed crowd of men and women, boys and girls, riding on bicycles, wagons, and trucks. Even though he knew these civilians would not have heard about the curfew through no fault of their own, the unit commander Lieutenant Gabriel Dahan determined that they were in violation of it and therefore should be shot. Out of all the unit commanders given this order, Dahan was the only one to enforce it.16 As each small group of villagers arrived, the border police opened fire. Forty-three civilians were killed and thirteen injured. The dead were mostly children aged between eight and seventeen: twenty-three of them, plus fourteen men and six women. It was said that one nine-year-old girl was shot twenty-eight times. Another little girl watched as her eleven-year-old cousin was shot. He was dragged indoors and died in his grandfather’s arms, blood pouring from the bullet wound in his chest. Laborers were ordered off their trucks in small groups, lined up, and executed. There were clashes between Arabs and border police that evening in which six more Arabs were killed. The order to kill had not come from the top. It was traced back conclusively only as far as Major Malinki. When Ben-Gurion heard about the massacre, he was furious, telling his cabinet that the officers who had shot civilians should be hanged in Kfar Kassem’s town square.17 Yet the Israeli government covered the incident up with a press blackout lasting two months.

fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications, banking and financial services, manufacturing, transportation, aerospace, and defense.They construct software applications for a wide range of platforms, from microprocessors embedded in telephone switching systems to enterprisewide information systems running on company-specific intranets. Rational Software Corporation is traded on the NASDAQ system under the symbol RATL.1

Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications, banking and financial services, manufacturing, transportation, aerospace

and offered them little in any event. There was even talk of pressuring North Korea to demilitarize significantly. The Chinese wished for peace, not conflict, in the region and James Marshall was the president’s man to make it happen. Lifelong friends, they had both excelled in their fields, President Jack King in the military and James Marshall in business. When James had announced his retirement on his fifty-fifth birthday, President King had pounced; Marshall was perfect to obtain the treaties that would secure the Far East. Jack loved and trusted him like a brother. With over four hundred million dollars in the bank, all James Marshall had wanted was to enjoy life but he’d never let Jack down and he’d certainly never

Ironically, solutions are not hard to devise. These solutions involve breaking big banks into units that are not too big to fail; returning to a system of regional stock exchanges, to provide redundancy; and reintroducing gold into the monetary system, since gold cannot be wiped out in a digital flash.

When the state did not provide the right direction to finance, developmental outcomes were different. Nineteenth-century Spain had a large number of investment banks which did nothing to promote industrialisation. This was largely because Spanish company law favoured railroad investment but discriminated against manufacturers. As a result, the Spanish banks financed thousands of kilometres of rail lines, for which all the rolling stock was imported and for which there were no manufactures to transport. After a banking crisis in the 1870s, Spain remained thoroughly un-industrialised.

o n o f R a t i o n a l S o f t w a r e C o r p o r a t i o n i s t o e n s u r e t h e s u c c e s s o f c u s t o m e r s c o n s t r u c t i n g t h e s o f t w a r e s y s t e m s t h a t t h e y d e p e n d o n . We enable our customers to achieve their business objectives by turning software into a source of competitive advantage, speeding time-to-market, reducing the risk of failure, and improving software quality. We fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications, banking and financial services, manufacturing, transportation, aerospace, and defense.They construct software applications for a wide range of platforms, from microprocessors embedded in telephone switching systems to enterprisewide information systems running on company-specific intranets. Rational Software Corporation is traded on the NASDAQ system under the symbol RATL.1

The great river of India spoken of in the Vedas—the Sarasvati—has recently been rediscovered and appears to have been the central homeland of the Indus Valley culture. This river, which flowed southwest in the region west of modern Delhi, roughly paralleling the Indus to the sea, contains hundreds of Indus culture sites positioned all along its dried banks. The Indus civilization, now renamed by many the “Sarasvati civilization,” came to an end with the drying up of the river around 1900 BC. As the Vedas speak of the Sarasvati River as having a wide course from the mountains to the sea, they must date from the period while the river was still flowing and must reflect the civilization located on it. This dates the Vedas well before 2000 BC, and makes them the oldest continuous religious and philosophical tradition in the world, contemporary with the pyramids of Egypt.

South-east Asia’s high savings rates, most of which flowed into bank deposits, lent themselves to outsize banking systems, which invited godfather abuse. There is, in turn, a pretty direct line from the insider manipulation of regional banks to the Asian financial crisis. The ‘over-banked’ nature of south-east Asia also helps explain a conundrum that has occupied some of the region’s equity investors: why, despite heady economic growth, have long-term stock market returns in south-east Asia been so poor? Since 1993, when a flood of foreign money increased capitalisation in regional markets by around 2.5 times in one calendar year,37 dollar-denominated returns with dividends reinvested (what investors call ‘total’ returns) in every regional market have been lower than those in the mature markets of New York and London, and a fraction of those in other emerging markets in eastern Europe and Latin America.38

Regions and Kings Eastern King Samrat Western King Suvrat Northern King Virat Southern King Bhoja King of middle country Raja   Important Ratnins/Officials in Later Vedic Period Purohita Chief Priest, in also sometimes referred to as Rashtragopa Senani Supreme Commander of army Vrajapati Officer-in-Charge of pasture land Jivagribha Police Officer Spasas/Dutas Spies who also sometimes worked as messengers Gramani Head of the village Kulapati Head of the family Madhyamasi Mediator on disputes Bhagadugha Revenue collector Sangrahitri Treasurer Mahishi Chief Queen Suta Charioteer and court minstrel Govikartana Keeper of games and forests Palagala Messenger Kshatri Chamberlain Akshavapa Accountant Sthapati Chief Justice Takshan Carpenter   Kingdoms in the Later Vedic Age Kingdom Location Gandhar Rawalpindi and Peshawar districts of Western Punjab Kekaya On the bank of River Beas, east of Gandhar kingdom Uttar Madra Kashmir Eastern Madra Near Kangra Southern Madra Near Amritsar Kushinagar Nothern region of modern Uttar Pradesh Panchal Bareilly, Badayun and Farrukhabad districts of modern Uttar Pradesh Kashi Modern Varanasi Koshal Faizabad region of today's Uttar Pradesh

Midafternoon, Notre-Dame-de-Gravenchon. A small, picturesque town lost somewhere in the Seine-Maritime region. Cute shops, peace and quiet, greenery and fields as far as you could see, if you were facing in the right direction. Because if you looked southwest, not a mile distant the banks of the Seine were obstructed by a kind of giant steel vessel, which spewed so much grayish smoke and gas effluvia that it discolored the sky.

They moved into the rain forest a few minutes later; the captain was near the head of the column and MacGregor at the rear. Their destination was the village of Ban Suk, five kilometers away, on the bank of the Chao Neua River that wriggled through the area with a hundred twists. The enemy had recently transformed the old hamlet into a regional headquarters and, according to reports, had sequestered a horde of ammunition in her thatch huts. They moved along level ground. The path was soft and spongy, without much undergrowth. MacGregor walked with rapid strides, his weapon felt light. He expected to reach Ban Suk with energy to spare. They slowed down after a kilometer or so, stooping to avoid branches that grew across a path strewn with rocks and clotted with bulging, mossy roots. MacGregor felt as if he’d entered a cavern of sound: bird calls, the trill of insects, a leopard’s groan, the hissing of rivers and streams. He listened for the slightest noise that seemed out of place such as the swish of a branch or a mechanical click. His heart sank when he heard a snap like the breaking of a bough and then, near the head of the column, an abrupt, shattering explosion. A voice called out sharply that the point man had tripped a land mine. He froze for a second, then, like the others, dropped to one knee and pointed his rifle into the trees. The captain stood up after several minutes and ordered MacGregor and Corporal Andrews to tend to the wounded man. “I think he’s dead, sarge,” Andrews said after they carried him into the brush. “Nothin’ we can do for him now.

During the past quarter of a century, most developing countries have liberalized trade to a huge degree. They were first pushed by the IMF and the World Bank in the aftermath of the Third World debt crisis of 1982. There was a further decisive impetus towards trade liberalization following the launch of the WTO in 1995. During the last decade or so, bilateral and regional free trade agreements (FTAs) have also proliferated.Unfortunately, during this period, developing countries have not done well at all, despite (or because of, in my view) massive trade liberalization,

France and Germany are, among the countries with large financial sectors, the ones where anti-market rhetoric is strongest. But they are also the countries that have done the least to implement substantive financial reform since the global financial crisis. The principal reason is the instinctive corporatism of both countries, which equates the national interest in financial services with the interests of large national financial services firms. Thus the voice of Deutsche Bank is transmitted as the voice of Germany, not just in domestic German policies but also (and especially) in German positions in international financial negotiations. Germany’s policy positions are also compromised by the local political links of its many regional and community banks (links that have positive as well as many negative aspects). In France the homogeneity of an elite that glides easily from boardroom to cabinet table and back reinforces the sense that its state and its national industrial champions are one. And since France and Germany are the two most influential members of the European Union, the corporate influence extends to the conference rooms of Brussels. Little

There’s another level at which attention operates, this has to do with leadership, I argue that leaders need three kinds of focus, to be really effective, the first is an inner focus, let me tell you about a case that’s actually from the annals of neurology, there was a corporate lawyer, who unfortunately had a small prefrontal brain tumour, it was discovered early, operated successfully, after the surgery though it was a very puzzling picture, because he was absolutely as smart as he had been before, a very high IQ, no problem with attention or memory, but he couldn’t do his job anymore, he couldn’t do any job, in fact he ended up out of work, his wife left him, he lost his home, he’s living in his brother spare bedroom and in despair he went to see a famous neurologist named Antonio Damasio. Damasio specialized in the circuitry between the prefrontal area which is where we consciously pay attention to what matters now, where we make decisions, where we learn and the emotional centers in the midbrain, particularly the amygdala, which is our radar for danger, it triggers our strong emotions. They had cut the connection between the prefrontal area and emotional centers and Damasio at first was puzzled, he realized that this fellow on every neurological test was perfectly fine but something was wrong, then he got a clue, he asked the lawyer when should we have our next appointment and he realized the lawyer could give him the rational pros and cons of every hour for the next two weeks, but he didn’t know which is best. And Damasio says when we’re making a decision any decision, when to have the next appointment, should I leave my job for another one, what strategy should we follow, going into the future, should I marry this fellow compared to all the other fellows, those are decisions that require we draw on our entire life experience and the circuitry that collects that life experience is very base brain, it’s very ancient in the brain, and it has no direct connection to the part of the brain that thinks in words, it has very rich connectivity to the gastro- intestinal tract, to the gut, so we get a gut feeling, feels right, doesn’t feel right. Damasio calls them somatic markers, it’s a language of the body and the ability to tune into this is extremely important because this is valuable data too - they did a study of Californian entrepreneurs and asked them “how do you make your decisions?”, these are people who built a business from nothing to hundreds of millions or billions of dollars, and they more or less said the same strategy “I am a voracious gatherer of information, I want to see the numbers, but if it doesn’t feel right, I won’t go ahead with the deal”. They’re tuning into the gut feeling. I know someone, I grew up in farm region of California, the Central Valley and my high school had a rival high school in the next town and I met someone who went to the other high school, he was not a good student, he almost failed, came close to not graduating high school, he went to a two-year college, a community college, found his way into film, which he loved and got into a film school, in film school his student project caught the eye of a director, who asked him to become an assistant and he did so well at that the director arranged for him to direct his own film, someone else’s script, he did so well at that they let him direct a script that he had written and that film did surprisingly well, so the studio that financed that film said if you want to do another one, we will back you. And he, however, hated the way the studio edited the film, he felt he was a creative artist and they had butchered his art. He said I am gonna do the film on my own, I’m gonna finance it myself, everyone in the film business that he knew said this is a huge mistake, you shouldn’t do this, but he went ahead, then he ran out of money, had to go to eleven banks before he could get a loan, he managed to finish the film, you may have seen

Truly landlocked people know they are. Know the occasional Bitter Creek or Powder River that runs through Wyoming; that the large tidy Salt Lake of Utah is all they have of the sea and that they must content themselves with bank, shore and beach because they cannot claim a coast. And having none, seldom dream of flight. But the people living in the Great Lakes region are confused by their place on the country's edge - an edge that is border but not coast. They seem to be able to live a long time believing, as coastal people do, that they are at the frontier where final exit and total escape are the only journeys left. But those five Great Lakes which the St. Lawrence feeds with memories of the sea are themselves landlocked, in spite of the wandering river that connects them to the Atlantic. Once the people of the lake region discover this, the longing to leave because acute, and a break from the area, therefore, is necessarily dream-bitten, but necessary nonetheless. It might be an appetite for other streets, other slants of light. Or a yearning to be surrounded by strangers. It may even be a wish to hear the solid click of a door closing behind their backs.

A detachment of General Cos's army appeared at the village of Gonzales, on the 28th of September, and demanded the arms of the inhabitants; it was the same demand, made for the same purpose, which the British detachment, under Major Pitcairn, had made at Lexington, on the 16th of April, 1775. It was the same demand l And the same answer was given—resistance—battle—victory ! The American blood was at Gonzales what it had been at Lexington; and between using their arms, and surrendering their arms, that blood can never hesitate. Then followed the rapid succession of brilliant events, which in two months left Texas without an armed enemy in her borders, and the strong forts of Goliad and the Alamo, with their garrisons and cannon, the almost bloodless prizes of a few hundred Texan rifles. This was the origin of the revolt; and a calumny more heartless can never be imagined than that which would convert this rich and holy defence of life, liberty, and property, into an aggression for the extension of slavery. Just in its origin, valiant and humane in its conduct, the Texan revolt has illustrated the Anglo-Saxon character, and given it new titles to the respect and admiration of the world. It shows that liberty, justice, valor—moral, physical, and intellectual power— characterise that race wherever it goes. Let our America rejoice, let old England rejoice, that the Brasos and Colerado, new and strange names—streams far beyond the western bank of the Father of Floods—have felt the impress, and witnessed the exploits of a people sprung from their loins, and carrying their language, laws, and customs, their magna charta and its glorious privileges, into new regions and far distant climes.

If LIBOR is Gregorian calendar; RFR is the new regional calendar of each country.

If any of the above real world, national or regional currencies starts losing its value or falls victim to currency speculators or face any other dangers, not only would the central bank which backs that currency will take action to protect it, the government of that nation too would take supportive action too. Cryptocurrencies are not backed by any central bank, government or financial entity. In fact, and as a consequence, cryptocurrencies are viewed by governments and central banks with trepidation, scepticism and intrigue. Cryptocurrencies by their very concept are beyond the purview of traditional governmental-central bank currency framework, though not outside the economy, nor illegal.

EVERYDAY BUDDHISM Looking at a River I live in a mountainous region, and I enjoy spending time hiking various mountain trails in the summer. A few summers back, I was hiking up a trail that overlooks a river, and I paused there to relax and meditate. After my meditation, I looked at the river and watched the water continually flowing downstream. I thought about how there is really no permanent aspect of that river. The water is always new; the banks are continually changing and evolving as the sediment and rocks wash away and erode; the path of the river changes at different times of the year depending on how much water is flowing down. The river itself is always new, always changing. I then connected this observation with what I had just been observing as I looked inward in meditation. What part of me is permanent? My cells are continually regenerating and splitting. My older memories are fading, while new memories are always being added. My thoughts, ideas, and opinions seem to be continually evolving over time. I realized that, like the river, I myself seem like a permanent thing, yet there is nothing permanent to be found when I look for it. Meditation

From Thomas Berry: When we arrived, we brought with us an attitude that the region was here for our exploitation. Even though we broke our treaties with the Indian tribes, we did recognize their rights and made treaties with them. It never entered our minds that we should have also made treaties with the rivers and with the land and with the region as a whole…Such as treaty, or some such spiritual bond, between ourselves and the natural world is needed… the river and its valley are neither our enemy to be conquered nor our servant to be controlled…it is the ultimate psychic as well as the physical context out of which we emerge into being and by which we are nourished, guided, healed, and fulfilled. As the gulls soaring above the river in its estuary region, as the blossoms along its banks, the fish within its water, so, too, the river is a celebration of existence, of life lived in intimate association with the sky, the winds from every direction, the sunlight.

Try to fancy poor Jesus, for example, coming to life again (actually, not doctrinally), and learning that he was the founder, the teacher, the exemplar, the very God of Christendom; fancy him searching for some trait of his own life and ruling principles in the lives and ruling principles of the millions who call themselves Christians; fancy him in spiritual communion with the Pope, the cardinals, the bishops (though their lackeys would never admit him to the presence of any of these), the most prominent ministers of the various Christian sects. He would find himself an outcast in his nominal kingdom, denounced and reviled as a madman, an idiot, an impostor; the moral and intellectual life of Christendom would be as alien and bewildering to him as its steamboats and railways and telegraphs. Paul and the other early apostles, the ancient heathenisms of Greece and Rome, of the East and the West, old philosophies and older superstitions, national characteristics, physical and other circumstances, the growth of science, the ever-varying conditions of life and modes of thought; everything, in brief, affecting the character of the converts, has affected the religion. By the time a doctrine gets embodied in a Church or other institution, its original spirit has nearly vanished. Its progress may be well compared to the course of a great river, rivers being remarkably convenient things for all such analogies. Some remotest mountain–rill or rocky well–spring has the honour of being termed its source; and the name of this tiny trickling is borne triumphant down a thousand broadening leagues to the sea. The rill is soon joined by others, each very like itself. As it flows onward, ever descending (for this is the universal law), it is joined by streamlets and rivers more and more unlike itself, they having flowed through unlike soils and regions; and more than one may be greater than itself, as the Missouri is greater than the Mississippi; and its own original waters are more and more modified by the new and various districts they traverse. As it proceeds, growing deeper and wider, villages and towns arise on its banks, and it receives copious tribute not merely of natural streams, but likewise of sewage and the pestilent refuse abominations of manifold factories and wharves. When it is become a mighty river, crowded with ships and bordered by some wealthy and populous capital, it may be a mere open cloaca maxima; and at any rate it must be as dissimilar in the quality of its waters as in their quantity and surroundings from the pure rill of the mountain solitudes, from the pure brook of the woodland shadows and pastoral peace. The waters actually from the fountain-head are but an insignificant drop in the vast and composite volumes of the thick bronze or yellow flood which finally disembogues through fat flat lowlands, in several devious channels with broad stretches of marsh and lagoon, into the immense purifying laboratory of the untainted salt sea. The remote rill-source is Christ or Mohammed, the mighty river is the Christian or Mohammedan Church; the sea in all cases is the encompassing ocean of death and oblivion, which makes life possible by preserving the earth from putrefaction.

May 14, 1948. Within a day of proclaiming its statehood, Israel was invaded by neighboring Arab states with the help of Arab Palestinians who were already fighting Jewish Palestinians.243 This began the First Arab-Israeli War.244 By 1949, Israel had defeated the Arab coalition, and the resulting armistices gave Israel control over most of the land of the Mandate.245 Only the Gaza Strip and so-called West Bank remained in Arab hands. The West Bank was occupied by Jordanian military forces, and the Gaza Strip was occupied by Egyptian forces until the Six-Day War in 1967, when those territories also came under Israeli control.246 Jordan continued to formally claim control over the West Bank until 1988, when King Hussein granted the request of the Palestine Liberation Organization (PLO) to renounce any Jordanian claims to the West Bank, after which the PLO became the sole Arab claimant of that territory.247 It is important to note that from 1967 until today, neither the PLO, the current Palestinian Authority (PA), nor any other Arab Palestinian political entity has exercised sovereign control over the West Bank. Further, prior to Israel’s acquisition of the territory in 1967, dating back to the rule of the Ottoman Turks, there had never been a lawfully recognized Arab Palestinian sovereign over the territory in the former Mandate for Palestine.248 Today, one can hardly talk about the Middle East without bringing up war, terror, and unrest. The region has become synonymous with geopolitical instability and territorial conflicts, specifically with regard to the ongoing Israeli-Palestinian issue. Despite the fact that Arab Palestinians have no greater historical claim to the territories for which they are fighting than do Jewish inhabitants of the land of Palestine, the majority of the international community continues to demand that Israel relinquish control of these territories to allow the establishment of an independent Arab state ruled by a political entity whose ultimate goal is the utter destruction of Israel.249

The reason is clear from the market share numbers. In the 1999 Euromoney poll, almost 48 per cent of market share was held by banks outside the top ten; by the 2006 poll, that number had halved to about 24 per cent. These banks did not have a business large enough to justify spending the money needed to automate. In fact, the collective market share decline of smaller banks masked a shift in behaviour that was even worse news for the career prospects of the traders who worked in them. Increasingly, FX giants like Deutsche would give these banks access to systems like Autobahn or the equivalent. Their salespeople would simply quote the Deutsche Bank (or Citibank, UBS or Barclays) rate to their customers with a small spread to offset the credit risk. No need for expensive traders. In effect, the smaller banks had shifted from ‘manufacturing’ FX rates to being distributors to clients with whom they had a strong relationship based on regional expertise or history. ‘You guys just sucked us dry,’ complained an old friend and adversary at the time – he was in his late thirties, from a smaller bank, and we were at his ‘leaving-the-industry’ drinks. ‘But,’ he added resignedly, with a slightly drunken grin, ‘I guess that’s just that old whore Capitalism for you.’ He became a maths teacher.

The American presidential election is a drawn-out, byzantine process that involves precinct meetings, regional caucuses, state primaries and national conventions, all to give citizens the impression that their participation matters, for in the end, the lying buffoon who gets to stride into the White House has long been vetted and preselected by the banks, death merchants and brainwashing media that run our infernally corrupt and murderous country. It's foolish to expect a system to allow anyone who threatens it to the least degree to rise to the very top, for all those who benefit from this system will do all they can to snuff out such a pest each step of the way. He'd be lucky to get a job teaching freshmen English at the community college, and is as out of place in this bloody scheme as an Iowa beaver trapper at a Hamptons pool party. As for dissidents who get print space or airtime, they are but harmless, distracting foils or court jesters. Since voting cannot change the system but legitimizes it, voters become collaborators in all of the system's crimes, as well as their own destruction, for the system works against nearly all of them.

As wars have become less common, nuclear weapons have proved to be a major deterrent among major powers, and as regional conflicts and ethnic troubles bordering civil war have increased, the content of international relations has considerably changed. Besides, with the increasing role of trade and financial relations and of institutions like the International Monetary Fund (IMF), the World Bank and the World Trade Organization (WTO), the study of international relations has become increasingly interdisciplinary, and politics and economy have become closely related inputs of our subject.

One of the chief ways to lure farmers from the hills to the banks of the Mississippi River, Walter Sillers Jr. and other Delta planters decided, was to build modern consolidated schools throughout the region. The beautiful brick buildings would impress poor yeoman farmers, whose children likely studied in one-room shacks, if they studied at all. After several county meetings, it was decided that Rosedale Consolidated High School would be constructed and serve as the district’s recruiting grounds for a new white workforce. Immediately following the school’s opening in 1923, Rosedale’s principal and board of trustees made an application to the state accreditation commission. If Rosedale received accreditation from the commission, its graduates would be accepted to state colleges without examinations, further increasing the district’s appeal for white farmers.

As for Africa, its per capita income grew relatively slowly even in the 1960s and t he 1970s (1-2% a year). But since the 1980s, the region has seen a fall in living standards. This record is a damning indictment of the neoliberal orthodoxy, because most of the African economies have been practically run by the IMF and the World Bank over the past quarter of a century.

To achieve their fullest development, modern capitalist production and bank speculation require enormous centralized states, which alone are capable of subjecting the many millions of laborers to their exploitation. A federal organization, from below upward, of workers’ associations, groups, communes, districts, and, ultimately, regions and nations—the sole condition for real as opposed to fictitious freedom—is as contrary to their essence as any kind of economic autonomy is incompatible with them.

When Wimdu launched, the Samwers reached out to Airbnb to discuss combining forces, as they had done with Groupon and eBay to facilitate a speedy exit. Discussions ensued between Airbnb and Wimdu cofounders and investors—meeting multiple times, touring the Wimdu offices, and checking with other founders like Andrew Mason from Groupon to best understand the potential outcome. In the end, Airbnb chose to fight. Brian Chesky described his thought process: My view was, my biggest punishment, my biggest revenge on you is, I’m gonna make you run this company long term. So you had the baby, now you gotta raise the child. And you’re stuck with it for 18 years. Because I knew he wanted to sell the company. I knew he could move faster than me for a year, but he wasn’t gonna keep doing it. And so that was our strategy. And we built the company long term. And the ultimate way we won is, we had a better community. He couldn’t understand community. And I think we had a better product.82 To do this, the company would mobilize their product teams to rapidly improve their support for international regions. Jonathan Golden, the first product manager at Airbnb, described their efforts: Early on, Airbnb’s listing experience was basic. You filled out forms, uploaded 1 photo—usually not professional—and editing the listing after the fact was hard. The mobile app in the early days was lightweight, where you could only browse but not book. There were a lot of markets in those days with just 1 or 2 listings. Booking only supported US dollars, so it catered towards American travelers only, and for hosts, they could get money out via a bank transfer to an American bank via ACH, or PayPal. We needed to get from this skeleton of a product into something that could work internationally if we wanted to fend off Wimdu. We internationalized the product, translating it into all the major languages. We went from supporting 1 currency to adding 32. We bought all the local domains, like airbnb.co.uk for the UK website and airbnb.es for Spain. It was important to move quickly to close off the opportunity in Europe.83 Alongside the product, the fastest way to fight on Wimdu’s turf was to quickly scale up paid marketing in Europe using Facebook, Google, and other channels to augment the company’s organic channels, built over years. Most important, Airbnb finally pulled the trigger on putting boots on the ground—hiring Martin Reiter, the company’s first head of international, and also partnering with Springstar, a German incubator and peer of Rocket Internet’s, to accelerate their international expansion.

UNCONVENTIONAL DESTINATION WEDDING LOCALES Destination Wedding Jan 6 This wedding season, fall in love with endearing unconventional destination wedding locales Theme Weavers Designs Since all the travel restrictions have been lifted, destination weddings are back in vogue. However, the pandemic has led to a major paradigm shift. In this case, Indian couples are looking into hidden gems to take on as their wedding destination, instead of opting for an international location. With the rich cultural heritage and a myriad of local traditions, it has been observed by industry insiders that couples feel closer to their past and history after getting married in a regional wedding destination. At the same time, it is a very cumbersome task to find the perfect wedding destination - it has to be perfectly balanced in terms of the services it offers as well as having breathtaking views. This wedding season, choose something offbeat, by opting for an unexplored destination, that is both visually appealing and has a romantic vibe to them. Start off your wedding journey with an auspicious location. Rishikesh, on the banks of the holy river Ganges is one of the most sacred places a couple can tie the knot. This tiny town’s interesting traditions, picturesque locales, and ancient customs make this one of the most underrated places to get married in india. Perfect for a riverside wedding in extravagant outdoor tents, this wedding season, it is high time Rishikesh gets the hype it deserves. “The Glasshouse on the Ganges,” is one of the most stunning places to get married. While becoming informed travellers, this place is interred with a vast and vibrant cultural history. It offers an extremely unique experience as it revitalises ruined architectural wonders for the couple to tour or get married in, making it a heartwarming and wonderful experience for all those who are involved. Steep your wedding party in the lap of nature, in Naukuchiatal, Nainital, Uttarakhand. This place is commonly referred to as “treasure of natural beauty,” where it offers mesmerising natural spectacles for a couple to get married in a gorgeous outdoor ceremony. Away from the hustle and bustle of the urban jungles that have slowly been taking over the Indian subcontinent, this location provides a much needed breath of fresh air. This location also provides much needed reprieve from the fast paced lifestyle that we live, making a wedding a truly relaxing affair. As this is a quaint hill station, surrounded with lush greens, there are numerous ideas to create a natural and sustainable wedding. The most distinguishing feature of this location is the nine-cornered lake, situated 1,220 m above sea level. There is something classic and timeless about the Kerala backwaters. This location is enriching and chock full of unique cultural traditions. With spectacular and awe-inspiring views of the backwaters, Kumarakom in Kerala easily qualifies as one of the top wedding destinations in india. Just like Naukuchiatal, this space is a study in serenity, where it is far away from the noisy streets and bazaars. Perfect for a cozy and intimate wedding, the Kerala backwaters are a gorgeous choice for couples who are opting for a socially distant wedding, along with having a lot of indigenous flora and fauna. Punctuated with the salty sea and the sultry air, the backwaters in Kerala are an underrated gem that presents couples with a unique wedding location that is perfect for a historical and regal wedding. The beaches of Goa and the forts of Rajasthan are a classic for a reason, but at the same time, they can get boring. Couples have been exploring more underrated wedding locations in order to experience the diverse local cultures of India that can also host their weddings

Let a world collapse, in the South or Russia, and there appear figures of coarse ambition driving their way up from beneath the social bottom, men to whom moral claims are not so much absurd as incomprehensible, sons of bushwhackers or muzhiks drifting in from nowhere and taking over through the sheer outrageousness of their monolithic force. They become presidents of local banks and chairmen of party regional committees, and later, a trifle slicked up, they muscle their way into Congress or the Politburo. Scavengers without inhibition, they need not believe in the crumbling official code of their society; they need only learn to mimic its sounds.

The new “men of steel” included the leader of the Donetsk group, Rinat Akhmetov, who in the early 1990s took over leadership of a company called Lux, known to the Ukrainian authorities for its criminal origins and connections. In the Dnipropetrovsk region, two local businessmen divided major metallurgical assets: Viktor Pinchuk, who married into President Kuchma’s family, and Igor Kolomoisky, who established one of the first major private banks in Ukraine. Others also shared the loot of post-Soviet Ukrainian privatization. Still, the corrupt and often criminal nature of the privatization process aside, the “oligarchization” of the Ukrainian economy coincided with the end of economic decline. Ukraine began the new millennium with a rapid economic recovery, and, for better or worse, the oligarchs were important figures in that new success story.

Any flood would feel like the end of the world if your neighbors drowned and your community washed away. In Mesopotamia when torrential rains hit alongside spring snowmelt, the Tigris and Euphrates would burst their banks, growing the region under hundreds of miles of lakes. Archaeologists say an ancient Sumerian city called Shurrupak (Iraq's Tell Fara) was laid waste by flood nearly 5,000 years ago. A Babylonian version of GILGAMESH mentions Shurrupak by name. It describes a deluge that wipes out mankind, and a pious king called Ziusudra who overhears from a sympathetic god that the great flood is on its way. Ziusudra builds a huge boat and survives.

Follow-up Call (Script) Seller: “Hello Mr. Prospect, my name is Tom Freese, and I’m the regional manager for KnowledgeWare in Kansas City. I wanted to contact you about the CASE application development seminar we are hosting at IBM’s Regional Headquarters on August 26. Do you remember receiving the invitation we sent you? (Pause for a response) “Frankly, we are expecting a record turnout—over one hundred people, including development managers from Sprint, Hallmark Cards, Pepsi Co., Yellow Freight, Kansas Power & Light, the Federal Reserve Bank, Northwest Mutual Life, American Family Life, St. Luke’s Hospital, Anheuser-Busch, MasterCard, American Express, Worldspan, and United Airlines, just to name a few. “I wanted to follow up because we haven’t yet received an RSVP from your company, and I wanted to make sure you didn’t get left out.” Granted, this was a highly positioned approach, but it was also 100 percent accurate. I wanted prospects to know that IBM was endorsing this event. I also wanted to let them know that I expected “everyone else” to participate. I accomplished this by rattling off an impressive list of marquee company names that we were “expected” to attend. Most importantly, I wanted to make sure that they didn’t get left out.

Harvard Professor William Z. Ripley began warning as early as 1924 that, although the stock market kept going up, trouble was brewing. He first focused on the sharp rise in real estate prices and the surge in mortgage lending. While the price of land increased, the profits from land fell, particularly for farms (then the predominant use of land). Even during the prosperity of the mid-1920s, many farms were defaulting on their debts, and these defaults were creating a minor crisis at some regional banks. In seven states, nearly half of the banks doing business as of 1920 failed before 1929. Ripley believed these regional difficulties in the mortgage markets would soon spill over to the stock markets.

And so it was that politicians used to quibbling over a few million euros to be spent on pensioners, health or education gave their governments carte blanche to transfer hundreds of billions to bankers hitherto awash with liquidity. “Solidarity with bankers” helped Germany’s and France’s banks survive the collapse of their foolish derivative trades. However, another calamity beckoned: the remaining loans that bankers, like Franz, had granted to the deficit regions of the eurozone were sizeable enough to bankrupt those nations if stressed Irish, Spanish, Greek banks were to default. Before the ink of their own bailout agreements had dried, a second bank bailout was in progress: a bailout for the bankers of deficit countries whose governments could not afford to rescue them.

A lockbox payment is a way of accepting checks from customers with the help of a bank’s P.O. box allotted to a business. For example, Company A can have a P.O. box address where customers from a particular region can mail their checks.

SANDINISTAS. The Sandinista National Liberation Front (Frente Sandinista de Liberación Nacional—FSLN), more commonly known as Sandinistas, ruled Nicaragua from 1979 until 1990, attempting to transform the country along Marxist-influenced lines. The group formed in the early 1960s, and spent the first two decades of its existence engaged in a guerrilla campaign against the dictatorship of Anastasio Somoza, receiving backing from Cuba which remained a close ally when the Sandinistas took office. With popular revulsion towards Somoza rising, in 1978 the Sandinistas encouraged the Nicaraguan people to rise up against his regime. After a brief but bloody battle, in July 1979 the dictator was forced into exile, and the Sandinistas emerged victorious. With the country in a state of morass, they quickly convened a multi-interest five-person Junta of National Reconstruction to implement sweeping changes. The junta included rigid Marxist and long-serving Sandinista Daniel Ortega, and under his influence Somoza’s vast array of property and land was confiscated and brought under public ownership. Additionally, mining, banking and a limited number of private enterprises were nationalized, sugar distribution was taken into state hands, and vast areas of rural land were expropriated and distributed among the peasantry as collective farms. There was also a highly successful literacy campaign, and the creation of neighborhood groups to place regional governance in the hands of workers. Inevitably, these socialist undertakings got tangled up in the Cold War period United States, and in 1981 President Ronald Reagan began funding oppositional “Contra” groups which for the entire decade waged an economic and military guerrilla campaign against the Sandinista government. Despite this and in contrast to other communist states, the government fulfilled its commitment to political plurality, prompting the growth of opposition groups and parties banned under the previous administration. In keeping with this, an internationally recognized general election was held in 1984, returning Ortega as president and giving the Sandinistas 61 of 90 parliamentary seats. Yet, in the election of 1990, the now peaceful Contra’s National Opposition Union emerged victorious, and Ortega’s Sandinistas were relegated to the position of the second party in Nicaraguan politics, a status they retain today. The Marxism of the Sandinistas offered an alternative to the Marx- ism–Leninism of the Soviet Bloc and elsewhere. This emanated from the fact that the group attempted to blend a Christian perspective on theories of liberation with a fervent devotion to both democracy and the Marxian concepts of dialectical materialism, worker rule and proletariat-led revolution. The result was an arguably fairly success- ful form of socialism cut short by regional factors.

What does that mean, historic regions? Is it older than unhistoric regions?" asked Roger

and the First Austrian Bank.177 “America’s financial support for ‘Al Qaeda’” also tied the Clinton Administration to backing al-Qaeda training in Bosnia and Kosovo. Rahm Emanuel, at the time assistant to the president for political affairs, was deeply involved in Clinton’s foreign policy machinations in Bosnia and Kosovo. Emanuel asserted that Clinton went to both regions to handle al-Qaeda instruction. (Certainly, Clinton supported al-Qaeda training in both areas.) Madsen added that there were believable Serbian reports that fugitive financier Marc Rich (later pardoned by Clinton) had been engaged in arms smuggling to Bosnian Muslims.178

Back in July 1806, William Clark, of the Lewis and Clark Expedition, explored the south bank of the Yellowstone River, in what would later become Montana Territory, and found a fossil “semented [sic] within the face of the rock.” He described it as a bone three inches in circumference and three feet in length, and considered it the rib of a fish, although it was probably a dinosaur bone. More dinosaur bones were found in Connecticut in 1818; they were believed to be the remains of human beings; dinosaur footprints, discovered in the same region, were described as the tracks of “Noah’s raven.

We moved to Eugene, Oregon, a small college town in the Pacific Northwest. The city sits near the source of the Willamette River, which stretches 150 miles north, from the Calapooya Mountains outside of town to its mouth on the Columbia. Carving its way between mountains, the Cascade Range to the east and the Oregon Coast Range to the west, the river defines a fertile valley where tens of thousands of years ago a series of ice age floods surged southwest from Lake Missoula, traveling over eastern Washington and bringing with their floodwaters rich soil and volcanic rock that now shore up the layers of its earth, alluvial plains fit for a vast variety of agriculture. The town itself is coated in green, hugging the banks of the river and spreading out up into the rugged hills and pine forests of central Oregon. The seasons are mild, drizzly, and gray for most of the year but give way to a lush, unspoiled summer. It rains incessantly and yet I never knew an Oregonian to carry an umbrella. Eugenians are proud of the regional bounty and were passionate about incorporating local, seasonal, and organic ingredients well before it was back in vogue. Anglers are kept busy in fresh waters, fishing for wild chinook salmon in the spring and steelhead in the summer, and sweet Dungeness crab is abundant in the estuaries year-round. Local farmers gather every Saturday downtown to sell homegrown organic produce and honey, foraged mushrooms, and wild berries. The general demographic is of hippies who protest Whole Foods in favor of local co-ops, wear Birkenstocks, weave hair wraps to sell at outdoor markets, and make their own nut butter. They are men with birth names like Herb and River and women called Forest and Aurora.

The Federal Reserve System was created by Congress on December 23, 1913, and began operating on November 16, 1914. Twelve regional banks were set up across the country to provide liquidity to their regions. The state of Missouri was lucky enough to be granted two district banks in their state (St. Louis and Kansas City) because, well, the Speaker of the House was from Missouri. All federally chartered banks were required by law to become members.

When it comes time to change the federal funds rate, the Fed usually moves in 25 basis point[5] or 50 basis point increments, or decrements. A 25 basis point change is a pretty normal policy change, such as from 1.00% to 1.25%. If the Fed feels they need to move rates more aggressively, they’ll move by 50 basis points. For example, from 1.00% to 1.50%. At times when the Fed moved by more than 50 basis points, it meant there was a real crisis at hand. A 1.00% move – a full point – signals there are big problems out there. Changes in monetary policy are decided by the Federal Reserve Open Market Committee, or FOMC for short. The group meets eight times a year, approximately every six weeks. It’s composed of board members, who are political appointees, and the twelve regional Federal Reserve bank presidents, who vote on a rotating basis.

Jordan occupied the West Bank region, including East Jerusalem. Egypt occupied Gaza, considering it to be an extension of its territory. Neither was minded to give the people living there citizenship or statehood as Palestinians, nor was there any significant movement by the inhabitants calling for the creation of a Palestinian state. Syria, meanwhile, considered the whole area to be part of greater Syria and the people living there as Syrians.

The constant dredging, banking, and rerouting of the Mississippi to ease passage for ships and cargo meant that less sediment washed down from upriver to restore the land that was lost. The very activity that had made the region a commercial hub and allowed the oil industry to thrive was now hastening the sea’s steady advance. Looking out the rain-streaked window, I wondered how long the road I was traveling would last, with its gas stations and convenience stores, before it too was swallowed by the waves.

In the Sea of Japan, 500 million Nomurai jellyfish—each more than two meters in diameter—are clogging fishing nets; a region of the Bering Sea is so full of jellies that it’s been renamed “Slime Bank.” “Jellyfish grow faster and produce more young in warmer waters,” one researcher explained.

You know what amazes me, Zev? It’s that so many Jews and Palestinians don’t give a damn about one another’s stories. Too many Palestinians don’t grasp why three thousand years of death and persecution make Jews want their own homeland, or how suicide bombings alienate Jews and extend the occupation. Too many Jews refuse to acknowledge their role in the misery of Palestinians since 1948, or that the daily toll of occupation helps fuel more hatred and violence. So both become clichés: Jews are victims and oppressors; Palestinians are victims and terrorists. And the cycle of death rolls on. The two things the extremists have in common is how much they hated Amos Ben-Aron, and a gift for keeping old hatreds fresh.” David stopped, then continued more evenly: “In three short weeks I’ve seen all kinds of suffering, from the families in Haifa to the misery of Hana’s parents. But they live in different worlds. Hana has become a bit player in a tragedy that shows no sign of ending. Not for her, or her daughter, or anyone who lives here.” Ernheit studied him coolly. “In the end, David, which side would you choose?” David’s own gaze did not waiver. “I’m a Jew. I feel more at home here; on the West Bank, I heard enough anti-Semitism to remind me of how often Jews have had no choice but to fight or run. So if I had to choose, I’d have no choice. “The problem is that every day more choices are foreclosed for those who live here. Each day that Jews fight to build more settlements or Palestinians stoke the fantasy of return, they guarantee that someone else will die. And the hatred embedded in the DNA of this region continues to metastasize.

Like the Fed’s other eleven reserve banks, the New York Fed is technically “owned” by the banks in its region. By law, three of the nine directors on the New York Fed board must be representatives of those banks; they also elect three of the other directors, ostensibly to represent the public, with the Federal Reserve Board in Washington appointing the final three directors.

7. Gold.—In 1858 it was reported that gold had been discovered far to the north, on the banks of the Fitzroy River, and in a short time many vessels arrived in Keppel Bay, their holds and decks crowded with men, who eagerly landed and hastened to Canoona, a place about sixty or seventy miles up the river. Ere long there were about fifteen thousand diggers on the scene; but it was soon discovered that the gold was confined to a very small area, and by no means plentiful; and those who had spent all their money in getting to the place were in a wretched plight. A large population had been hurriedly gathered in an isolated region, without provisions, or the possibility of obtaining them; their expectations of the goldfield had been disappointed, and for some time the Fitzroy River was one great scene of misery and starvation till the Governments of New South Wales and Victoria sent vessels to convey the unfortunate diggers away from the place.

The political scientist John Ikenberry lauds the liberal international order America has built.11 The global order is today durable and stable thanks to the many multilateral mechanisms America helped build and continues to support: institutions such as the UN, the World Bank, and NATO that have fostered security and development, or the EU and NAFTA, which have promoted prosperity and lured the likes of Mexico and Turkey to embrace capitalism and democracy.12 America has lost some of its own authority to international institutions it created and sustained. But that is a good thing. It means that the liberal international order has legs; it will last longer and continue to define the world order around values and practices that will foster peace, freedom, and prosperity. As Ikenberry notes, “The underlying foundations of the liberal international order will survive and thrive” without America’s guiding hand.13 In the Middle East, though, where simmering instability threatens global security and prosperity, America has done very little institution building of the kind Ikenberry writes about. There is no equivalent to ASEAN or APEC (the Asia Pacific Economic Council), or rival to the SCO, which is backed by China, Russia, and Iran. Perhaps America should help create those kinds of institutions, which could foster order but also make the region’s security and prosperity less dependent on the exercise of American authority. Only then should America think about pivoting somewhere else.

stars, the Gang of Four and China (and Japan in earlier decades) are all in East Asia. The idea of a regional growth effect has been especially unwelcome to development experts and aid officials who want to give advice on growth. They can advise the national policy makers, but they cannot give advice to the nonexistent regional policy makers. Another sign that regional growth is an important part of the action is that regions move together from one decade to the next. For example, Latin American nations in the 1980s collectively had a famous “lost decade.” A regional credit bubble had burst: global banks had given the region a supply of easy credit at low interest rates in the 1970s, then interest rates went up and credit was cut off in the 1980s. A sensible principle for attribution for national growth performance is that a nation does not get special recognition if its performance is just at the average. It would be foolish for a nation to claim credit for growth that is the same as the average for its region. If a nation is above (or below) these averages, then we can talk about special recognition for the nation’s growth performance. This principle further reduces the share of growth variation explained by permanent national differences. Some of the variation in decade growth rates explained by national differences was really explained by regional differences. Recalculating, we now get only a little more than a tenth of the variation in decade growth rates explained by national differences. Regional growth

The news isn’t all positive in relation to regional accents. There are pockets of resistance to the general trend, some quite influential. A report in the Independent (7 March 2017) was headed: Banking jobs denied to young people due to having ‘wrong accents

The Bank of England distributes the nation’s money regionally in this way to avoid the danger of a single calamitous incident at one building destroying its stock of bank notes. This is important because, despite cheques and plastic, the public still uses a vast amount of cash. Approximately £37 billion is fluttering around the national economy daily in paper money.

China Belt-Road region focused on the One Belt and One Road of The Silk Road Economic Belt and 21st Century Maritime Silk Road in the ancient Chinese silk traders were road the belt for merchant silk & banking finance. Bangladesh is Belt-Road member states. Ancient we learned business & capitalism from China traders on which today’s super power America’s economy was built.