Types Of Currency Quotes

All forms of love are necessary, and none are to be ignored, but all of us find some forms of love to be more emotionally valuable to us. They are a currency that we find particularly precious, a language that delivers the message of love to our hearts with the most power. Some types of love are more thrilling and fulfilling to us when we receive them..

She was thoroughly entrenched in her wounds, so much so that she had converted her wounds into a type of social currency

Over the years I have read many, many books about the future, my ‘we’re all doomed’ books, as Connie liked to call them. ‘All the books you read are either about how grim the past was or how gruesome the future will be. It might not be that way, Douglas. Things might turn out all right.’ But these were well-researched, plausible studies, their conclusions highly persuasive, and I could become quite voluble on the subject. Take, for instance, the fate of the middle-class, into which Albie and I were born and to which Connie now belongs, albeit with some protest. In book after book I read that the middle-class are doomed. Globalisation and technology have already cut a swathe through previously secure professions, and 3D printing technology will soon wipe out the last of the manufacturing industries. The internet won’t replace those jobs, and what place for the middle-classes if twelve people can run a giant corporation? I’m no communist firebrand, but even the most rabid free-marketeer would concede that market-forces capitalism, instead of spreading wealth and security throughout the population, has grotesquely magnified the gulf between rich and poor, forcing a global workforce into dangerous, unregulated, insecure low-paid labour while rewarding only a tiny elite of businessmen and technocrats. So-called ‘secure’ professions seem less and less so; first it was the miners and the ship- and steel-workers, soon it will be the bank clerks, the librarians, the teachers, the shop-owners, the supermarket check-out staff. The scientists might survive if it’s the right type of science, but where do all the taxi-drivers in the world go when the taxis drive themselves? How do they feed their children or heat their homes and what happens when frustration turns to anger? Throw in terrorism, the seemingly insoluble problem of religious fundamentalism, the rise of the extreme right-wing, under-employed youth and the under-pensioned elderly, fragile and corrupt banking systems, the inadequacy of the health and care systems to cope with vast numbers of the sick and old, the environmental repercussions of unprecedented factory-farming, the battle for finite resources of food, water, gas and oil, the changing course of the Gulf Stream, destruction of the biosphere and the statistical probability of a global pandemic, and there really is no reason why anyone should sleep soundly ever again. By the time Albie is my age I will be long gone, or, best-case scenario, barricaded into my living module with enough rations to see out my days. But outside, I imagine vast, unregulated factories where workers count themselves lucky to toil through eighteen-hour days for less than a living wage before pulling on their gas masks to fight their way through the unemployed masses who are bartering with the mutated chickens and old tin-cans that they use for currency, those lucky workers returning to tiny, overcrowded shacks in a vast megalopolis where a tree is never seen, the air is thick with police drones, where car-bomb explosions, typhoons and freak hailstorms are so commonplace as to barely be remarked upon. Meanwhile, in literally gilded towers miles above the carcinogenic smog, the privileged 1 per cent of businessmen, celebrities and entrepreneurs look down through bullet-proof windows, accept cocktails in strange glasses from the robot waiters hovering nearby and laugh their tinkling laughs and somewhere, down there in that hellish, stewing mess of violence, poverty and desperation, is my son, Albie Petersen, a wandering minstrel with his guitar and his keen interest in photography, still refusing to wear a decent coat.

What is the attraction of central bankers to issuing their own digital currencies? The answer lies in wider access to second-layer money. Recall that the Federal Reserve issues two types of money, wholesale reserves for private sector banks and retail cash for people. In order to provide monetary stimulus, the Fed issues reserves and hopes that private sector banks will use those reserves to circulate third-layer deposits into the economy by lending money. With a CBDC, the Fed could issue second-layer money directly to people in the form of digital helicopter money; the phrase “helicopter money” comes from Milton Friedman, who in 1969 provided the imagery of dropping cash out of a helicopter in order to stimulate economic demand.

As the Christians gradually gained the upper hand, they marked their victories not only by destroying mosques and building churches, but also by issuing new gold and silver coins bearing the sign of the cross and thanking God for His help in combating the infidels. Yet alongside the new currency, the victors minted another type of coin, called the millares, which carried a somewhat different message. These square coins made by the Christian conquerors were emblazoned with flowing Arabic script that declared: ‘There is no god except Allah, and Muhammad is Allah’s messenger.

There is indeed a poetical attitude to be adopted towards all things, but all things are not fit subjects for poetry. Into the secure and sacred house of Beauty the true artist will admit nothing that is harsh or disturbing, nothing that gives pain, nothing that is debatable, nothing about which men argue. He can steep himself, if he wishes, in the discussion of all the social problems of his day, poor-laws and local taxation, free trade and bimetallic currency, and the like; but when he writes on these subjects it will be, as Milton nobly expressed it, with his left hand, in prose and not in verse, in a pamphlet and not in a lyric. This exquisite spirit of artistic choice was not in Byron: Wordsworth had it not. In the work of both these men there is much that we have to reject, much that does not give us that sense of calm and perfect repose which should be the effect of all fine, imaginative work. But in Keats it seemed to have been incarnate, and in his lovely ODE ON A GRECIAN URN it found its most secure and faultless expression; in the pageant of the EARTHLY PARADISE and the knights and ladies of Burne-Jones it is the one dominant note. It is to no avail that the Muse of Poetry be called, even by such a clarion note as Whitman’s, to migrate from Greece and Ionia and to placard REMOVED and TO LET on the rocks of the snowy Parnassus. Calliope’s call is not yet closed, nor are the epics of Asia ended; the Sphinx is not yet silent, nor the fountain of Castaly dry. For art is very life itself and knows nothing of death; she is absolute truth and takes no care of fact; she sees (as I remember Mr. Swinburne insisting on at dinner) that Achilles is even now more actual and real than Wellington, not merely more noble and interesting as a type and figure but more positive and real.

The lazy traveler. It's a theory about couples. Two people are traveling together, and no matter what their two individual personality types might be, one person will start doing, right? That person figures out which way to the metro, what the day's itinerary is, how to exchange currency, all that stuff, and the other one, they sit back." He laces his fingers behind his head and leans back to demonstrate, chest puffed out. "Because it's being done for them. They don't pay attention to which way they're going. In fact, they probably wouldn't even be able to find the nearest metro station if they were plopped alone right back on the same spot they started from. They're along for the ride. Because they can be. They become the lazy traveler.

Money was created many times in many places. Its development required no technological breakthroughs – it was a purely mental revolution. It involved the creation of a new inter-subjective reality that exists solely in people’s shared imagination. Money is not coins and banknotes. Money is anything that people are willing to use in order to represent systematically the value of other things for the purpose of exchanging goods and services. Money enables people to compare quickly and easily the value of different commodities (such as apples, shoes and divorces), to easily exchange one thing for another, and to store wealth conveniently. There have been many types of money. The most familiar is the coin, which is a standardised piece of imprinted metal. Yet money existed long before the invention of coinage, and cultures have prospered using other things as currency, such as shells, cattle, skins, salt, grain, beads, cloth and promissory notes. Cowry shells were used as money for about 4,000 years all over Africa, South Asia, East Asia and Oceania. Taxes could still be paid in cowry shells in British Uganda in the early twentieth century.

In the Afro-Asian world from which the Spaniards came, the obsession for gold was indeed an epidemic. Even the bitterest of enemies lusted after the same useless yellow metal. Three centuries before the conquest of Mexico, the ancestors of Cortés and his army waged a bloody war of religion against the Muslim kingdoms in Iberia and North Africa. The followers of Christ and the followers of Allah killed each other by the thousands, devastated fields and orchards, and turned prosperous cities into smouldering ruins – all for the greater glory of Christ or Allah. As the Christians gradually gained the upper hand, they marked their victories not only by destroying mosques and building churches,but also by issuing new gold and silver coins bearing the sign of the cross and thanking God for His help in combating the infidels. Yet alongside the new currency, the victors minted another type of coin, called the millares, which carried a somewhat different message. These square coins made by the Christian conquerors were emblazoned with flowing Arabic script that declared: ‘There is no god except Allah, and Muhammad is Allah’s messenger.’ Even the Catholic bishops of Melgueil and Agde issued these faithful copies of popular Muslim coins, and God-fearing Christians happily used them.2

The Antigua cruise port of Saint. Johns almost guarantees that site visitors will find a lot of beaches pertaining to swimming as well as sunbathing. It isn't really an official promise. It's just that the island features 365 beaches or one for every day's the year. Vacation cruise visitors will see that the cruise amsterdam shorelines are not correct by the docks as they might find within other locations such as Philipsburg, St. Maarten. Getting to the higher beaches will need transportation by means of pre-arranged excursion shuttle, taxi as well as car rental. However, they will likely find that shorelines are peaceful, peaceful and uncrowded because there are a lot of them. 3 beaches in close proximity to St. Johns are Runaway These types of, Dickinson Beach and Miller's Beach (also called Fort These types of Beach). Saint. Johns Antigua Visit It is possible to look, dine as well as spend time at the actual beach after a cruise pay a visit to. Anyone who doesn't have interest in a seaside will find plenty of shopping right by the Barbados cruise fatal. Heritage Quay is the main searching area. It's got many stalls filled with colorful things to acquire, some community and some not really. Negotiating over price is widespread and recognized. Redcliffe Quay is close to Heritage and provides many further shopping and also dining chances. Walk somewhat farther and you'll find yourself upon well-maintained streets with more traditional searching. U.Ersus. currency and a lot major charge cards are accepted everywhere. Tipping is common which has a recommended range of 10 to 15 per cent. English will be the official words. Attractions Similar to most Caribbean islands, Antigua provides strong beginnings in Yesteryear history. Your island's main traditional district and something of its most favored attractions can be English Harbor. Antigua's historic section was created as a bottom for the United kingdom navy in the 1700s right up until its closure in 1889. It is now part of the 15 square mls of Nelson's Dockyard Countrywide Park.

Stablecoins The ground is currently being laid to set the way for a new type of currency –the stablecoin. What is the stablecoin? The stablecoin is an asset that typically features price stability. Cryptocurrency is notoriously unstable, with volatile prices that are often difficult to predict. The advantage of them is that they give the user total control over their holdings. On the other hand, the US dollar is a great example of a fiat stablecoin, as it offers low volatility and so provides a reliable unit of money to invest in both the short term and the long term. However, the US dollar doesn’t give the user any form of control, as it is monitored by the Federal Reserve Bank and is dependent on the banking network in the US for commercial use. To get a combination of the two –full user control and reduced volatility –is an exciting prospect. Maker is a company that is currently working on a project to make this happen by creating a currency known as the Dai, which is set to become a stablecoin that combines user control with price stability. Social Networks

The unexpected sound of laughter drew stares from people hurrying past. Office types, dressed in shades of black. The only difference in appearance and sour expressions of these 9-to-5s to funeral directors was the cost of the suits, skirts and shoes. High above the circumference of the steel, glass and concrete of the atrium and its engulfing thirty floor construction resembled a gargantuan tomb, with worms (a.k.a. office workers) morphing and interfusing, centering on unearthing the wealth of currency secreted in the abdomen of the leviathan that comprised No. 1 Quebec Square, Canary Wharf.

And I’m not kidding when I say “craziness.” The University of St. Gallen, Switzerland, has come out with a study that compares traders with psychopaths. The study reviewed the results from an existing study comparing 24 psychopaths in German high-security hospitals with a control group of 27 “normal” people. The funny thing is, this control group of “normal” people turned out to be traders. Stock guys, currency and commodity traders, and derivative types happened to be the normal control group that was stacked up against the high-security, barbed-wire-enclosed psychopaths. In the end, the performance of the trading group was actually worse than that of the psychopaths. The study indicated that traders, “Have a penchant for immense destruction,” and that their mindset would lead them to the logical conclusion of “beating one of the neighbor’s expensive cars with a baseball bat with the sole objective of owning the most beautiful car in the neighborhood.” In other words, traders are nuts. Indeed if you look up the textbook definition of a psychopath, here are some of the tidbits you’ll uncover: antisocial behavior, poor judgment and failure to learn from experience, inability to see oneself as others do, inexplicable impulsiveness … sounds like a typical trader who is struggling against the market and can’t figure out why.

a platform is fundamentally an infrastructure designed to facilitate interactions among producers and consumers of value. These two basic types of participants use the platform to connect with each other and to engage in exchanges—first, an exchange of information; then, if desired, an exchange of goods or services in return for some form of currency.

We can always create enough of our own local money to handle all the trades and exchanges we wish to make. While national currency basically drives, and is driven by profit, local money supports people with other values: people who believe in local diversity, mutual help, treating people as assets instead of problems, valuing all types of work, creating strong social networks and protecting the environment. It is these people, their values and commitment that make local money systems work.

Get to know the interface   Now that you have caught your very first Pokémon, you’re set to shape your own Pokémon future and catch them all. Back on the map, which will be the screen you visit the most, you can find various points of interest, including your character’s position. Your position on the map is updated with real-time movement in your actual surroundings. Around your character is a radius, indicated with a purple circle. You can interact with points of interest within this radius. Do note that you will only be able to interact and move around when you have an active internet connection and when the application has access to your location.   Around your character, you will see blue floating cubes: PokéStops, as well as colored buildings: gyms. We will be treating these more carefully later on in the book. On the bottom of your screen you will see three main buttons: left being your avatar, right being Pokémon that are nearby and the middle button functions as the menu.   When you tap your avatar button, you can see your character and character name, your level, your balance, a journal of your activities, your team and last but not least: your medals. Increasing your level is achieved by gaining XP, short for experience. There are various ways to gain experience, which we will cover later on in this book. In this chapter, we just want to familiarize ourselves with the interface. You can check the requirements of any achievement by simply tapping on either of them.   When you make it back to the map, we will check out the middle button next to familiarize ourselves with the main menu. There are four subdivisions in the main menu: the Pokédex, the Shop, your Pokémon and your Items. First up is the Pokédex, it contains all the Pokémon you can come across in the game numbered accordingly. Whenever you catch a Pokémon, it will be added to the Pokédex and you can check their traits by simply tapping that particular Pokémon within your Pokédex. You will be shown a brief description about the Pokémon, its possible evolutions (if applicable), the type and how many times you have encountered and caught such Pokémon.   In the Shop, you’re able to spend your Pokécoins, which is your balance or currency. Pokécoins can be acquired by maintaining one or multiple gyms, but can also be bought directly through the store for real life currency. In the Shop you can buy various items such as Poké Balls, incense, eggs, and many more items and upgrades.   The third category in the main menu shows your Pokémon. In the beginning you can carry up to 250 Pokémon and up to 9 eggs, which are also included in the Pokémon tab count. If you wish to exceed these values, you can purchase upgrades in the Shop to increase your capacity. Your Pokémon are listed with their CP, short for Combat Power and their current HP, short for Health Points. The higher a Pokémon’s combat power, the stronger this Pokémon is and the harder it would be to catch.

idea generation, of the good kind, the kind that helps you AND OTHERS, which is the type you will exercise in this book, is worth ten times that, or more.

In addition to executives, we can also include, for example, certain types of salesmen and lobbyists, for whom constant connection is their most valued currency.

But that is precisely what the Christian does who unites himself with a prostitute. Stealing from Christ, he makes himself a member of the prostitute, her property. And for one who has been freed by Christ through belonging to him, this is an enslavement, a “falling under the power of,” the type of thing that Paul excluded in verse 12. Union with a prostitute is not the only type of fornication, but Paul uses it here as the most typical and that which the city of Aphrodite presented as the most common temptation to the male converts to the new faith. [16]    The fornicator becomes one body with her, for “the two,” it says, “will become one flesh” (Gen 2:24). Sexual union, whether within marriage or not, involves the whole person of each partner. It leaves an imprint on the soul as well, because of the partners’ psychosomatic nature. The libertines cannot say that in giving the body what it lusts for, the soul remains free and unengaged. Today this still is no small matter, given the currency of casual sex in our society. Sex is not a merely biological activity: it is a communion of persons.

In the upcoming months I would learn more about DPG’s history, but early on I learned about one derivatives trade that I think exemplifies the group’s business. This particular trade, and its acronym, were among the group’s most infamous early inventions, although it still is popular among certain investors. The trade is called PERLS. PERLS stands for Principal Exchange Rate Linked Security, so named because the trade’s principal repayment is linked to various foreign exchange rates, such as British pounds or German marks. PERLS look like bonds and smell like bonds. In fact, they are bonds—an extremely odd type of bond, however, because they behave like leveraged bets on foreign exchange rates. They are issued by reputable companies (DuPont, General Electric Credit) and U.S. government agencies (Fannie Mae, Sallie Mae), but instead of promising to repay the investor’s principal at maturity, the issuers promise to repay the principal amount multiplied by some formula linked to various foreign currencies. For example, if you paid $100 for a normal bond, you would expect to receive interest and to be repaid $100 at maturity, and in most cases you would be right. But if you paid $100 for PERLS and expected to receive $100 at maturity, in most cases you would be wrong. Very wrong. In fact, if you bought PERLS and expected to receive exactly your principal at maturity, you either did not understand what you were buying, or you were a fool. PERLS are a kind of bond called a structured note, which is simply a custom-designed bond. Structured notes are among the derivatives that have caused the most problems for buyers. If you own a structured note, instead of receiving a fixed coupon and principal, your coupon or principal—or both—may be adjusted by one or more complex formulas.

But there were other types of PERLS buyers who lacked the training and experience to understand them at all. They looked at a term sheet for PERLS, and all they saw was a bond. The complex formulas eluded them; their eyes glazed over. The fact that the bonds’ principal payments were linked to changes in foreign currency rates was simply incomprehensible. These are the buyers I call widows and orphans. These are the buyers salesmen love. Some PERLS buyers had no idea that the bet they were making by buying PERLS typically was a bet against a set of “forward yield curves.” Forward yield curves are a basic, but crucial, concept in selling derivatives. The most simple “yield curve” is the curve that describes government bond yields for various maturities. Usually the curve slopes upward because as the maturity of a government bond increases, its yield also increases. You can think about this curve in terms of a bank Certificate of Deposit: You are likely to get a higher rate with a five-year CD than with a one-year CD. A yield curve is simply a graph of interest rates of different maturities.

Until relatively recently, there was no real need for a term referring in general to the kind of object our Solar System is. It was the only known object of its type. We knew of stars but no planets outside the Solar System. We had no ability to observe planet formation in action. That has all changed, but so recently that there is no generally agreed term in the astronomical community for a star and all the gravitationally bound objects surrounding it. The term ‘planetary system’ has begun to gain currency to describe such objects, and it is the term we adopt to refer to a star and all the bodies gravitationally bound to it—the planets whether rocky, gassy, or icy, their moons, the asteroids, comets, and the far-flung icy bodies that make up Kuiper Belts. Our own planetary system contains only one star, but other planetary systems commonly contain two or even three stars. While the same general processes that formed our Solar System were also operating in the formation of other planetary systems, the end result of the process can yield planetary systems very unlike our own. Now that the Solar System isn’t the only example of a planetary system subject to study, and now that we can in effect peer back in time and observe processes such as those that occurred billions of years ago when our Solar System was being born, we can begin to appreciate how our home planetary system, and indeed our home world, is or isn’t special. The veil has been lifted, and this book provides a glimpse of what has been revealed.

Structured data includes simple data inputs like numerical values, dates, currencies, or addresses. Unstructured data includes data types that are more complicated to analyze, such as text, images, and video.

That’s crazy! We can’t go the way of—” “Since when has human history been anything else?” asks the woman with the camera on her shoulder—Donna, being some sort of public archivist, is in Sirhan’s estimate likely to be of use to him. “Remember what we found in the DMZ?” “The DMZ?” Sirhan asks, momentarily confused. “After we went through the router,” Pierre says grimly. “You tell him, love.” He looks at Amber. Sirhan, watching him, feels it fall into place at that moment, a sense that he’s stepped into an alternate universe, one where the woman who might have been his mother isn’t, where black is white, his kindly grandmother is the wicked witch of the west, and his feckless grandfather is a farsighted visionary. “We uploaded via the router,” Amber says, and looks confused for a moment. “There’s a network on the other side of it. We were told it was FTL, instantaneous, but I’m not so sure now. I think it’s something more complicated, like a lightspeed network, parts of which are threaded through wormholes that make it look FTL from our perspective. Anyway, Matrioshka brains, the end product of a technological singularity—they’re bandwidth-limited. Sooner or later the posthuman descendants evolve Economics 2.0, or 3.0, or something else, and it, uh, eats the original conscious instigators. Or uses them as currency or something. The end result we found is a howling wilderness of degenerate data, fractally compressed, postconscious processes running slower and slower as they trade storage space for processing power. We were”—she licks her lips—“lucky to escape with our minds. We only did it because of a friend. It’s like the main sequence in stellar evolution; once a G-type star starts burning helium and expands into a red giant, it’s ‘game over’ for life in what used to be its liquid-water zone.

There have been many types of money. The most familiar is the coin, which is a standardised piece of imprinted metal. Yet money existed long before the invention of coinage, and cultures have prospered using other things as currency, such as shells, cattle, skins, salt, grain, beads, cloth and promissory notes.

Up until around 1350, lending with an interest rate was prohibited by both Christianity and Islam—and in Judaism it was banned within the Jewish community—because of the terrible problems it caused, with human nature leading people to borrow more than they could pay back, which created tensions and often violence between borrowers and lenders. As a result of this lack of lending, currency was “hard” (gold and silver). A century or so later, in the Age of Exploration, explorers went around the world collecting gold and silver and other hard assets to make more money. That’s how the greatest fortunes were built at the time. The explorers and those who backed them split the profits. It was an effective incentive-based system for getting rich. The alchemy of lending as we know it today was first created in Italy around 1350. Rules for lending changed and new types of money were made: cash deposits, bonds, and stocks that looked pretty much like we know them today. Wealth became promises to deliver money—what I call “financial wealth.

Value at risk (VaR) is a widely used measure of the risk of loss on a specific portfolio of financial assets, expressed in terms of a probability of losing a given percentage of the value of a portfolio—in mark-to-market value—over a certain time. For example, if a portfolio of stocks has a one-day 5 percent VaR of $1 million, there is a 0.05 probability that the portfolio will fall in value by more than $1 million over a one-day period. Informally, a loss of $1 million or more on this portfolio is expected on one day in twenty. Typically, banks report the VaR by risk type (e.g., interest rates, equity prices, currency rates, and commodity prices).

In PCM there are six personality types: Thinkers, Persisters, Harmonizers, Imaginers, Rebels, and Promoters. Each personality type experiences the world in different ways. Thinkers perceive the world through thoughts, and logic is their currency. Persisters perceive the world through

As a physics major, before getting her hands dirty in New York, she had assumed that money is printed by a nation’s central bank, from where it is distributed to commercial banks. But while this is indeed how cash is created, cash accounts for only 3 per cent of all money. What of the remaining 97 per cent? Surprise and then foreboding were the reactions of every student to whom she had explained how the missing 97 per cent was created – and by whom: not by central banks but by commercial and investment bankers. At this point, her students would ask, ‘Without access to state-sanctioned printing presses, how do private bankers create money?’ ‘Simple,’ she would reply. ‘Every time a banker approves a loan of, say, one million dollars for Jack, a typical business customer, the banker just types 1,000,000 on Jack’s bank statement. However incredible it may seem, that’s all it takes. Bankers create money by granting loans by typing in some numbers!’ The crucial thing, she would explain, is that these numbers are typed into a shared database – or ledger – to which only the bankers have access. When their customers transfer this ‘money’ between them – when Jack transfers numbers from his account to the account of a supplier, say Jill, or of a builder, say Bob, or of a worker, say Kate, and when in turn, Jill, Bob and Kate transfer their numbers on, in the same way, to others to whom they owe money – these numbers simply migrate from one cell in the database to another. For this system to be sustainable, and not merely a pyramid scheme, there is a single condition: that, somewhere down the line, the one million dollars which some banker typed into existence on Jack’s behalf results in new goods and services whose total market value exceeds one million dollars. It is from this surplus that the banker takes his interest and Jack his profit. This is what Iris was referring to as a fool’s wager when she said that bankers plundered value from the future, or when Costa had once claimed that capitalism, like science fiction, trades in future assets using fictitious currency. It is in their nature that the wealthier bankers become by creating money, the more money they tend to create. The danger of such a system, of course, is that the banks end up typing into existence sums of money vastly larger than the market value of the goods and services created as a result of Jack, Jill, Bob and Kate’s endeavours. At the point when the bankers have collectively created money sums greater than the resulting values, the present can no longer repay the future for the money it borrowed from it. The moment Jack, Jill, Bob and Kate get a whiff of this, they may demand their bank balances in cash, sensing that the total value on the bankers’ database is lower than the actual value of their customers’ assets. ‘At that point, a bank run sets in,’ Eva would tell her students, ‘and that’s when the system comes crashing down.

As we’ll discuss in more detail in chapter 6, a platform’s ability to monetize the value of the exchanges it facilitates is directly related to the types of currency exchange it can capture and internalize. A platform that can internalize the flow of money may be well placed to charge a transaction cut—for example, the fee of 10 percent of the sale price typically charged by eBay after a successful auction. A platform that can capture only attention may monetize its business by collecting payments from a third party that considers the attention valuable—for example, an advertiser willing to pay Facebook for “eyeballs” attracted by posts related to a particular topic. The platform’s goal, then, is to bring together producers and consumers and enable them to engage in these three forms of exchange: of information, of goods or services, and of currency. The platform provides an infrastructure that participants plug in to, which provides tools and rules to make exchanges easy and mutually rewarding.

Other types of exchange rates also exist, including the real and effective exchange rates. The real exchange rate, for example, uses the nominal exchange rate and the ratio of the prices of two countries’ consumption baskets in respective currencies. In this case, the real exchange rate compares the price of two consumption baskets in a common currency. Therefore, unlike the nominal exchange rate, which only implies the exchange of currencies, the real exchange rate compares the price of two countries’ consumption baskets.

According to an analysis report by Jenco, a decentralized financial service platform, “traditional finance uses a centralized authority that maintains distinct currency values across nations. Banks and other financial institutions enable monetary transactions using uniform values that may change, depending on the present GDP of the different nations whose currencies are used in particular exchanges.” “For instance, if the current exchange rate is 1 USD is 0.76 GBP, then all monetary exchanges are based on this present value. Currency values change depending on the time frame and location,” says the same report. Apart from maintaining the distinct currency values across countries, it also works as a restricted medium. This type of financial system uses banks and intermediaries to perform a single transaction. This means that the whole process in this system takes time, where some of it takes days to execute, and it is also costly. Almost every transaction has a service charge attached to it.

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There is no social stigma attached to the frenzy, no peer motivation to slow us down. Rather it is the opposite; busy is popular currency, traded among members of modern society like a precious commodity. Busy is the silkiest cloth at the emporium, the most well-travelled spice. Living with a full schedule speedily typed into a pinging, vibrating device is a highly valued state of being. And, as with any addiction, it becomes self-perpetuating. We feel a rush from being in a rush; we take pride in the breakneck pace at which we travel through our days.

I once had a foreign exchange trader who worked for me who was an unabashed chartist. He truly believed that all the information you needed was reflected in the past history of a currency. Now it's true there can be less to consider in trading currencies than individual equities, since at least for developed country currencies it's typically not necessary to pore over their financial statements every quarter. And in my experience, currencies do exhibit sustainable trends more reliably than, say, bonds or commodities. Imbalances caused by, for example, interest rate differentials that favor one currency over another (by making it more profitable to invest in the higher-yielding one) can persist for years. Of course, another appeal of charting can be that it provides a convenient excuse to avoid having to analyze financial statements or other fundamental data. Technical analysts take their work seriously and apply themselves to it diligently, but it's also possible for a part-time technician to do his market analysis in ten minutes over coffee and a bagel. This can create the false illusion of being a very efficient worker. The FX trader I mentioned was quite happy to engage in an experiment whereby he did the trades recommended by our in-house market technician. Both shared the same commitment to charts as an under-appreciated path to market success, a belief clearly at odds with the in-house technician's avoidance of trading any actual positions so as to provide empirical proof of his insights with trading profits. When challenged, he invariably countered that managing trading positions would challenge his objectivity, as if holding a losing position would induce him to continue recommending it in spite of the chart's contrary insight. But then, why hold a losing position if it's not what the chart said? I always found debating such tortured logic a brief but entertaining use of time when lining up to get lunch in the trader's cafeteria. To the surprise of my FX trader if not to me, the technical analysis trading account was unprofitable. In explaining the result, my Kool-Aid drinking trader even accepted partial responsibility for at times misinterpreting the very information he was analyzing. It was along the lines of that he ought to have recognized the type of pattern that was evolving but stupidly interpreted the wrong shape. It was almost as if the results were not the result of the faulty religion but of the less than completely faithful practice of one of its adherents. So what use to a profit-oriented trading room is a fully committed chartist who can't be trusted even to follow the charts? At this stage I must confess that we had found ourselves in this position as a last-ditch effort on my part to salvage some profitability out of a trader I'd hired who had to this point been consistently losing money. His own market views expressed in the form of trading positions had been singularly unprofitable, so all that remained was to see how he did with somebody else's views. The experiment wasn't just intended to provide a “live ammunition” record of our in-house technician's market insights, it was my last best effort to prove that my recent hiring decision hadn't been a bad one. Sadly, his failure confirmed my earlier one and I had to fire him. All was not lost though, because he was able to transfer his unsuccessful experience as a proprietary trader into a new business advising clients on their hedge fund investments.

[...] I wonder here what would an ethics based on the radically non-relational look like? Insofar as the constant recognition of our existential interdependency cannot substantially challenge the many forms of segregations on the steady rise in our current times, it seems to me that assuming the inevitability of our ontological entanglement may need some re-thinking. In light of what I perceive to be relationality’s inability to maintain its ethical currency when faced with the extended rupture blackness sustains on ethics, Fred Moton’s understanding of relationality is pertinent here. In his famous essay “Blackness and Nothingness,” Moten understands relationality to be “an expression of power, structured by the giveness of a transcendental subjectivity that the black cannot have but by which the black can be had.” It is, indeed, “a structural position that he or she cannot take but by which he or she can be taken.” In other words, relationality is inherently not only a position that the black cannot afford or even claim. The structure of relationality is essentially the condition for the possibility of their enslavement. I wonder, therefore, whether our naïve reliance on a type of inherent co-dependence has recently done more harm than good—that is to say, has instead worked to obstruct the very possibility of a positive transformation of our ethical sensibilities.