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A major upgrade Dark Mode Major iPad focus A standard 'undo' function Safari improvement Easier font access Improved email Extra Emojis A timeline
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iOS13 rumors and expectations
As Apple inches ever-closer to the planned unveiling of iOS 13 in June, more and more rumors are circulating as to what the software upgrade will feature.
From Dark Mode to new gestures and an improved iPad interface, there is a wealth of credible information being leaked about what's likely to be included.
So, let's dive in to the expected upgrades that will come with iOS 13.
A major upgrade
iOS 13 is tipped to be a major upgrade to Apple's flagship operating system, which runs across mobile devices like iPhones, iPads and iPod touch.
That's partly attributed to a new development policy launched with iOS 12 last year.
As MacRumors explains, now Apple works on two years of software upgrades at the same time, which gives them the freedom to push back planned features that aren't ready for release, while still offering an annual update.
"For that reason, iOS 13 is potentially more developed already than prior updates, while at the same time, leaving open the possibility that any rumored feature could be postponed," MacRumors notes.
So, what's expected this year?
Video by iupdate
Apple users have been calling for Dark Mode for some time, and 2019 is the year Apple is expected to deliver this feature to the iPad and iPhone via its software.
Dark Mode allows for easier night-time viewing and 9to5 Mac explains it will be enabled in Settings, "including a high contrast version, similar to what's already available on macOS".
Major iPad focus
The iPad is tipped to receive special attention in this year's software update. This includes a focus on multitasking using multiple windows.
"Each window will also be able to contain sheets that are initially attached to a portion of the screen, but can be detached with a drag gesture, becoming a card that can be moved around freely, similar to what an open-source project called 'PanelKit' could do," 9to5 Mac says.
"These cards can also be stacked on top of each other, and use a depth effect to indicate which cards are on top and which are on the bottom. Cards can be flung away to dismiss them."
A standard 'undo' function
We all make mistakes, and now Apple is set to help us fix them more readily courtesy of a new gesture that allows text input to be undone.
The gesture kicks off with a triple tap on the keyboard area of the screen, then users slide right or left to undo or redo actions.
Safari improvement
As part of the update, Safari on iPad will automatically seek a desktop version of websites when necessary, rather than instantly opting for the mobile-friendly option.
This has previously been a bit of a user bugbear as even on big-screen iPads, websites are often rendered in iPhone mode.
Easier font access
Apple is also making it easier to access additional fonts, with users no longer required to have a profile in order to explore extra ones.
"Instead there will be a new font management panel in Settings," 9to5 Mac says." A new standard font picker component will be available for developers and the system will notify the user when they open a document that has missing fonts."
Improved email
MacRumors also anticipates the email system will get an upgrade, offering users the opportunity to mute incoming mail notificatons from relevant email threads.
Extra Emojis
By the time the software update is ready for public release, there will also likely be new Emojis available. MacRumors says: "The Unicode Consortium has finalized the characters that are being added to the emoji standard, and some of them include flamingo, otter, waffle, sloth, white heart, people holding hands, ice cube, snorkel, orangutan, juice box, falafel, and more."
iOS 13 is expected to be unveiled at the Worldwide Developer's Congress (WWDC) in San Jose, which is slated to run from June 3 to June 7 this year.
Following its big reveal, the software will then be offered to developers for testing purposes. Once this is complete, iOS 13 will be handed over to the greater Apple community for further Beta testing, and will then be released to the general public at about the time of the next iPhone and iPad in the US fall.
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Victory in Afghanistan Impossible Without Calling Taliban Terrorists
Posted By: haymsalomon July 7, 2016
By Bridget Johnson, Originally published in the New York Observer
Policymakers need a refresher course on Afghanistan: Terrorists make their plans independently. They don't follow the timetable of on-the-stump drawdown promises or primetime addresses by politicians. They don't lay down the arms they feel Allah orders them to brandish to sit at a negotiating table with disbelievers or perceived puppet Muslim rulers. And they definitely aren't just an armed insurgency as they blow up families.
Yet, while President Obama attributes his decision to keep steady troop levels in Afghanistan to "the realities of the world as it is," he refuses to acknowledge that the Taliban are terrorists.
This, after all, would be admitting that the administration has made deals with terrorists, as evidenced by the swap of five Taliban commanders for Bowe Bergdahl in 2014—the year by which Obama pledged to leave Afghanistan.
"The Taliban is an armed insurgency. ISIL is a terrorist group. So we don't make concessions to terrorist groups," White House spokesman Eric Schultz said in January 2015.
The administration has yearned for Afghanistan to be wrapped up in a neat negotiations bow before Obama leaves office; and even after the latest bloody terrorist attacks, the White House ends up calling for a peace deal. Imagine the outcry if the administration called for Bangladesh to strike a deal with ISIS on a Sharia state after the Dhaka café attack.
As Israeli Prime Minister Benjamin Netanyahu is fond of noting about Iran, "If it looks like a duck, walks like a duck and quacks like a duck, then what is it? …It's time the world started calling a duck a duck."
Continue reading in the New York Observer…
Be the first to comment on "Victory in Afghanistan Impossible Without Calling Taliban Terrorists"
Birds of a Feather? The Link Between BDS and Hamas
By Ziva Dahl, Originally published in the New York Observer The terrorist organization Hamas and the Boycott, Divestment and Sanctions movement (BDS) share a common…
Anti-Semitism in Erdogan's Turkey is a feature, not a bug
Back To School: Jewish Students, Be Prepared For Harassment And Hate On Campus
Are BDS activists at the University of Maryland gearing up to test state law?
Disdain For Jews Is The Sinew Of Identity Politics

redpajama_set_name: RedPajamaCommonCrawl


Flemish authors and illustrators have a mind of their own even when it comes to the retelling of an existing fairy tale. Flanders Literature has selected five outstanding examples for you.
Gerda Dendooven sees no problem in a feminist adaptation of 'The Worn-Out Dancing Shoes' by the Brothers Grimm, Sebastiaan Van Doninck depicts a Puss in Boots with a hidden agenda, and Isabelle Vandenabeele's Red Riding Hood is not at all innocent. Carll Cneut and Peter Verhelst in turn give Andersen's 'The Secret of the Nightingale's Throat' a boost in intensity at all levels, while Anne Provoost sets her quirky take on 'Beauty and the Beast' in Antwerp.
This adaptation of the 'Little Red Riding Hood' classic is one to remember. Little Red Riding Hood remains the familiar protagonist, but this time is a self-aware and determined girl who knows what she wants. And what she wants is red.
In this adaptation of 'Puss in Boots', illustrator Sebastiaan Van Doninck brings tension and life to the story with his powerful compositions, beautiful watercolour tints and bright colours as needed. This classic tale-with-a-twist is a veritable feast for the eye.
Based on Hans Christian Andersen's classic fairy tale, 'The Secret of the Nightingale's Throat' is a literary retelling that will appeal to readers of all ages. In the long line of illustrators who have made pictures to accompany Andersen's tale, few have managed to catch the emperor's despair as vividly as Carll Cneut.
'The Rose and the Swine' was inspired by 'Beauty and the Beast' and is a tribute to the primal force of the fairy tale. Provoost, a celebrated author for all ages, offers her readers works of the highest literary quality.
The king has twelve daughters, whom he keeps close to him. The girls feel trapped in a golden cage. Until one day they discover a secret staircase that takes them to a magic garden. In 'The Magic Garden' Dendooven blows a breath of fresh air through 'The Worn-Out Dancing Shoes' by the Brothers Grimm, and adds a feminist-tinted ending.


The Maves Dress is a stunning fitted cocktail dress with incredible feminine detailing. The soft fabric features Acler's exclusive orchid print and folds delicately to finish above the knee. An exaggerated bow sits on the shoulder of the dress, adding a sophisticated flourish and perfectly highlighting the asymmetric neckline. Short fluted sleeves finish the dress off and add sophistication and balance to the shorter hemline.


There are about 317 schools in Division II sports. Division II schools offer athletic scholarships, but there is less athletic aid available in Division II than in Division I. The majority of athletes at Division II institutions are on partial athletic scholarships.
There are 24 athletic conferences in Division II. NCAA Division II offers championships in 12 men's sports and 13 women's sports.


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School For The Arts
Adult & Family Programs
VacationArts
Gold Coast Cinema Series
Film Screenings FAQ
Youth Film Day
2019 Film Festival Winners
Film Festival Archive
Stay Connected With The GCIFF!
Broadway Insider Club
Making Memories Through The Arts
Upcoming Exhibit
Arts Outreach
Students will build and learn to write programs for the Vex IQ robot working through a series of guided physical challenges with their robots to develop programming skills. Among these challenges are navigating a maze, learning to use sensors, seeking and retrieving objects, and SUMO-bots. Students will engage in the Engineering/Design process, as they modify their robots for new challenges.
Through curriculum that meets the next generation science standards, elementary students will be engaged in authentic scientific experimentation, and energized to develop the skills necessary to be successful in the 21st century. Our program has been developed in conjunction with The New York Institute of Technology in Westbury.
To register, call 516-829-2570
INTRODUCTION/INTERMEDIATE
WSR19.1 Monday 5:45-6:45PM
12 sessions. Tuition: $480/Member: $455
Class Dates: 1/13, 1/27, 2/3, 2/10, 2/24, 3/2, 3/9, 3/16, 3/23, 3/30, 4/6, 4/20
No class: 1/20, 2/17, 4/13
Pre-requisite: Two semesters of Robotics or equivalent courses.
WSRA19.1 Monday 7:00-8:00PM
Gold Coast Arts Center
113 Middle Neck Road
info@goldcoastarts.org
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Gold Coast International Film Festival
Copyright © 2020 - Gold Coast Arts Center All Rights Reserved


A lot of the couples I work with seem to come into my office with a general principle in mind: "We Have Problems, Fix Them." What I used to do was try to manage the problems first, and deal with the issues that are at hand. But then, I started to realize something: It doesn't matter how hard we try to fix them, if the couple's communication is lousy, then the management of the issues is going to be lousy.
So its a new approach to an old problem, and it got me thinking: how many others out there are having difficulty communicating, and if this is the case, how many problems we run into in relationships are the result of poor communication?
1. Misunderstanding: Seems obvious, right? But if you find that your partner is not understanding what you're saying, maybe its time to assess how you're saying what you're trying to say.
2. Unresolved Conflicts: If the last fight you had was unresolved, chances are it will play out in the next conversation you have. In fact, you may find that those old conflicts are coming up in your everyday conversations.
3. Angry Retort: Remember those unresolved conflicts? They often come with teeth. Angry emotions tend to fly and as a result, the communication is not about resolving the issue, and it ends up being a verbal firefight.
4. Silence: This is a clear sign things aren't going well. If there is no communication at all, then this is a sure sign. A lot of couples manage their communication this way, figuring that if their communication is bad, its better that they don't talk at all. This is probably the worst case scenario, and it can often be one of the biggest signs that something needs to change.
If you start seeing these signs, it might be good to consider getting some help. Sure the other issues are at the forefront, but its probably best to manage the communication issues first, then focus in on the bigger issues once you can talk about them without tearing each other's heads off.


"I thank my colleagues for my re-election as chairman of the Senate HELP committee. This Congress, the committee has a lot of work to get done. One top priority is reducing the cost of health care. Testimony from experts at the National Academy of Medicine said that up to half of health care spending is unnecessary. That startled me and it should startle the American people. That is a massive tax on American families, businesses, and state and federal budgets. A second priority is reauthorizing the Higher Education Act to ensure that the expense of a college education is worth it for students.
"The committee will also work to extend funding for approximately 12,000 community health center delivery sites, and reauthorize the Older Americans Act, which supports the organization and delivery of social and nutrition services to older adults and their caregivers. Another priority is reauthorizing the Child Abuse Prevention and Treatment Act, important legislation that funds major grant programs that provide a social services response to issues of child abuse and neglect.
"Last Congress, President Trump signed into law the SUPPORT for Patients and Communities Act, legislation that Leader McConnell called 'landmark' opioids legislation. This legislation represented the work of eight committees in the House and five committees in the Senate who worked together to reach consensus about how to help address the opioid crisis. In 2016, the committee produced the 21st Century Cures Act, which McConnell called 'the most important legislation of this Congress.' The committee will conduct oversight on both of these new laws to make sure the Administration is carrying out the intent of Congress to help the American people.
Lamar Alexander is the senior senator from Tennessee, and he serves as chairman of the Senate Health, Education, Labor and Pensions Committee, and the Senate Appropriations Subcommittee on Energy and Water Development. For his full biography, click here.


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package com.lchtime.safetyexpress.ui.circle.protocal;

import android.os.Bundle;
import android.support.v4.view.ViewPager;
import android.support.v7.app.AppCompatActivity;
import android.widget.TextView;

import com.bumptech.glide.Glide;
import com.bumptech.glide.load.engine.DiskCacheStrategy;
import com.lchtime.safetyexpress.R;
import com.lchtime.safetyexpress.adapter.PhotoAdapter;
import com.lchtime.safetyexpress.weight.ImageViewPager;

import java.util.ArrayList;

import butterknife.BindView;
import butterknife.ButterKnife;
import uk.co.senab.photoview.PhotoView;

public class CirclePhone extends AppCompatActivity {

    @BindView(R.id.tv_indicator)
    TextView tvIndicator;
    @BindView(R.id.viewpager)
    ImageViewPager viewpager;
    private ArrayList<String> urlList;
    private ArrayList<PhotoView> viewList = new ArrayList<>();
    private int pos;

    @Override
    protected void onCreate(Bundle savedInstanceState) {
        super.onCreate(savedInstanceState);
        setContentView(R.layout.content_circle_phone);
        ButterKnife.bind(this);
        setTitle("图片预览");
        urlList = getIntent().getStringArrayListExtra("url");
        pos = getIntent().getIntExtra("pos" , 0);
        if(urlList != null){
            for(String imageUrl : urlList){
                PhotoView photoView = new PhotoView(CirclePhone.this);
                Glide.with(CirclePhone.this).load(imageUrl)
                        .placeholder(R.drawable.home_banner)
                        .error(R.drawable.home_banner)
                        .skipMemoryCache(true)
                        .diskCacheStrategy(DiskCacheStrategy.NONE)
                        .into(photoView);
                viewList.add(photoView);
            }
        }

        viewpager.setAdapter(new PhotoAdapter(CirclePhone.this , viewList));
        viewpager.setCurrentItem(pos);
        viewpager.addOnPageChangeListener(new ViewPager.OnPageChangeListener() {
            @Override
            public void onPageScrolled(int position, float positionOffset, int positionOffsetPixels) {
                tvIndicator.setText(String.valueOf(position + 1) + "/" + viewList.size());
            }

            @Override
            public void onPageSelected(int position) {
            }

            @Override
            public void onPageScrollStateChanged(int state) {

            }
        });

    }

}

redpajama_set_name: RedPajamaGithub


text:
Q: SQL - Multiple register conditions query I have the following table structure:
ID       COMPANY       PROJECT      ACTIVITY     TYPE
1        A             1            A1.1         NORMAL
2        A             1            A1.2         NORMAL
3        A             1            A1.3         NORMAL
4        A             2            A2.1         DUMMY
5        A             2            A2.2         DUMMY
6        A             2            A2.3         DUMMY
7        A             3            A3.1         NORMAL
8        A             3            A3.2         DUMMY
9        A             3            A3.3         NORMAL

My objective is to retrieve the company and project where all activities (within the combination company x project) are dummies.
I wrote the SQL below:
SELECT COMPANY, PROJECT
FROM TABLE
GROUP BY COMPANY, PROJECT
HAVING TYPE = 'DUMMY'

However it brings not only Company A and Project 2 (which is the only that satisfies my condition), but also Company 3 Project 3 (hhich has only one DUMMY type).
Could you guys help me fixing the statement?
Thanks!!!!

A: You are near to success. Make use of MAX and MIN functions.
SELECT  COMPANY, PROJECT
FROM    TABLE
GROUP   BY COMPANY, PROJECT
HAVING  MAX(TYPE) = MIN(TYPE) AND
        MAX(TYPE) = 'DUMMY'

A: You can use an EXISTS statement to get the answer you're looking for:
SELECT DISTINCT COMPANY, PROJECT
FROM TABLE t
WHERE EXISTS (
  SELECT 1
  FROM TABLE tDummy
  WHERE tDummy.COMPANY = t.COMPANY
  AND tDummy.PROJECT = t.PROJECT
  AND tDummy.[TYPE] = 'DUMMY')
AND NOT EXISTS (
  SELECT 1
  FROM TABLE tNotDummy
  WHERE tNotDummy.COMPANY = t.COMPANY
  AND tNotDummy.PROJECT = t.PROJECT
  AND (
    tNotDummy.[TYPE] <> 'Dummy'
    OR tNotDummy.[TYPE] IS NULL));

This assumes that if TYPE is null, you don't count it as 'DUMMY'.

redpajama_set_name: RedPajamaStackExchange


ZROADZ offers over 200 brackets and kits for all popular domestic and import late-model trucks and Jeeps—including many patented items not available anywhere else.
ZROADZ roof mount brackets and kits feature patented single-bolt mounting to provide the sturdiest roof mount anywhere, plus the driver-side bracket mounting lug doubles as a wire pass-through into the cab. Never again wonder where you are going to run your light wires: simply feed through the hollow bolt and install the solid rubber boot. No worries about panel nuts coming loose, leaks, whistling weather stripping, or pinched wires!
Have you ever installed a roof-mounted light bar only to have the customer return with noise issues? ZROADZ has solved this issue with its patented noise-cancelling wind diffusers, which can be installed in less than 15 minutes on any light bar to reduce wind noise by more 80%.
Check out ZROADZ full line of innovative mounting solutions at zroadz.com, including a growing selection of OEM LED grille inserts.
Forward-, rear-, and side-facing lighting solutions.
Available as brackets only or complete kits.
Most products install with no drilling required.
Use factory bolt holes and install with common hand tools.
The Prowler Max grille guard from Luverne Truck Equipment takes your truck from factory to fierce, adding defense and style in all the right places. Its heavy-gauge, punched-steel screen; wraparound ring design with wire headlight cages; and strong, frame-mounted steel uprights give you the performance and protection you crave.
Now Luverne has made available a winch platform to enhance your work at the job site or on the trail. The 321726 winch platform features high-strength carbon steel construction and boasts a tested 16.5K straight-line pull rating. With its standard winch mounting points (winch not included), the Prowler Max winch-mounting platform accepts most types of winches and comes with a durable dual-layer finish, starting with a zinc primer that protects the steel from moisture and rust, and finishing with a black powdercoat that adds even more rust resistance along with scratch and chip protection.
Compatible with Prowler Max grille guard only.
Durable, rust-resistant zinc primer and black powdercoat atop carbon steel.
Tested and rated for 16,500 lb. straight-line pull.
Standard mounting holes accept most types of winches (winch not included).
Woven from durable 550 nylon parachute cord into a brawny "double cobra" knot, Rugged Ridge paracord grab handles feel substantial in hand and provide valuable assistance in getting in and out of your Jeep Wrangler rig. Plus, being available in a variety of colors (black on red, red on black, or gray on black), these products contribute bold tactical styling to your vehicle.
Each handle secures to 2" or 3" diameter roll bars via heavy-duty hook-and-loop straps for a firm and stable fitment. Sold in pairs and backed by a 5-year limited warranty.
Made from rugged 550 nylon parachute cord.
"Double cobra" knot feels substantial in your hand.
Attaches to 2- and 3-inch roll bars via hook-and-loop straps.
Makes it easier to get in and out of your cab.
Three colors available: red on black, black on red, and gray on black.
The original frameless Rampage Products top is back with a vengeance, headlined by a patent-pending retractable sunroof that can be opened with one hand from inside your Jeep Wrangler for open-air driving. Available for Wrangler (139935) and Wrangler Unlimited (139835) in black diamond sailcloth with tinted windows, the TrailView also includes removable rear and side windows that quickly convert the soft top into an open safari top.
Rampage has included features like window and front storage compartments, door surrounds, UV- and mildew-resistant fabric, molded tooth zippers, anti-puddle support poles for improved water runoff, and an aerodynamic design that keeps the top in place while you're cruising at highway speeds.
For 2007–2016 Jeep Wrangler JK and JKU.
Retractable sunroof can be opened from inside your Jeep.
Premium sailcloth fabric resists sunlight fading and mildew.
Level It suspension kits from Rancho eliminate the rake from your F-150's front end while raising the front suspension up to 2". Rancho's award-winning quickLift RS7000MT monotube struts additionally provide an improved ride and a polished, aggressive look thanks to the unit's brushed and plated design.
RS66502R7 includes a set of sway bar drop brackets to ensure a precise ride. The Level It suspension kit requires the transfer of stock factory spring and top mount during installation, and was developed using 35" tires (some trimming required).
Levels the front of your truck.
High-pressure monotube struts and drop sway bar brackets.
Requires transfer of factory spring and top mount.
Via mail-in form. Offer valid August 7 to September 1, 2017. Click image for printable form and complete details!
<p>Via mail-in form. Offer valid August 7 to September 1, 2017. Click image for printable form and complete details!
Because we enjoy relationships with the industry's biggest manufacturing names, we're the first to know when rebates and offers come through on their most popular products. Designed to help you sell more, these consumer specials can be the final piece you need to close a sale with a customer; that's why Total Truck Centers™ wants to make sure you always know about the latest deals.
To do that, we maintain a special page on our website that lists the current rebates from our sponsoring vendors. We also put these offers on this blog to make sure you see them when they come across your feed—so check back often to see what's new!
When the top is down on your Jeep Wrangler, the 4264001 underseat lock box from Bestop gives you the security you desire, providing a safe place to put your smaller valuables or personal items. This product installs with no drilling and boasts pick-resistant key locks, two keys, 16-gauge carbon steel construction, and ample storage capacity.
Note: Will not fit 2011–2017 JK two door. Includes relocation kit for 2011–2017 Unlimited with new wiring plug.
Fits 2007-and-up Jeep Wrangler JK Unlimited and 2007–2010 Wrangler JK.
Will not fit 2011–2017 JK.
Includes relocation kit for Unlimited with new wiring plug.
Will not interfere with driver seat adjustment.
Excellent storage solution to conceal valuables.
Secures via factory seat riser bolts (no drilling).
Measures 16" x 5.75" x 2.87".
Heavy-duty, 16-gauge carbon steel with textured black powdercoat.
High-tech, pick-resistant lock (two keys included).
Hang-A-Hitch, a revolutionary product for trailer ball mount storage from AMI Styling, gives you a convenient place to store your ball mount between uses (as well as helping to prevent you from banging your shin on your trailer ball mount). It mounts inside your truck bed opening or can be installed on the trailer itself, safely out of the way and easy to locate when it comes time to tow. Made in the USA from CNC-machined 6061-T6 aluminum, the 15200 Hang-a-Hitch is compatible with 2" ball mounts and has the additional option of padlock security (padlock not included).
Stores your ball mount out of the way between uses.
Mounts inside truck bed opening or on the trailer itself.
Works with 2" ball mounts.
Padlock capable (padlock not included).
With an expanded and enclosed drop-down hoop step and 3" main tube diameter, the patented Podium Steps from N-FAB are engineered to allow for ease of access on stock or lifted vehicles. Podium Steps fit high and tight to the vehicle body to convey a modern, clean style, while the fully welded, one-piece construction lends strength, lasting durability, and ease of installation.
These stainless steel N-FAB podium steps are available in two finishes: High Polish or Textured Black Powdercoat (lifetime finish warranty on the polished and 5-year finish warranty on textured black; lifetime craftsmanship warranty on both).
A variety of applications available for Chevy, Dodge, Ford, GMC, Jeep, Nissan, and Toyota.
Expanded and enclosed drop-down hoop step.
One-piece construction with 3" main tube diameter.
Two finishes: High Polish and Textured Black Powdercoat.
Finish Warranty: Lifetime on polished and 5 years on textured black.


text:
A eleição municipal de 2004 em Santa Rita, no estado da Paraíba, assim como nas demais cidades brasileiras, ocorreu em 3 de outubro de 2004 e elegeu o novo prefeito e vice-prefeito da cidade, além dos novos membros da Câmara de Vereadores.

Disputada em turno único, a eleição teve como vencedor o candidato Marcus Odilon, do PDT, que obteve 36.165 votos (60,05%), superando com facilidade seu oponente Reginaldo Pereira (PSDB).

Sobre os demais candidatos, o menos votado foi Quinca da Padaria, do PRP, com apenas 403 votos (0,67%).

Candidatos a prefeito

Coligações proporcionais

Resultados

Vereadores eleitos

Eleitorado

Links
 Resultado das Eleições de 2004

Santa Rita

redpajama_set_name: RedPajamaWikipedia


Chris Sawyer | Wednesday, December 12, 2012 Rhetoric, as discussed in the previous post, is a fascinating and complex art form that can help improve public speaking. The 'Five Canons of Rhetoric' provide a useful and practical starting-point for the preparation of any speech or presentation.
Rhetoric, as discussed in the previous post, is a fascinating and complex art form that can help improve public speaking. The 'Five Canons of Rhetoric' provide a useful and practical starting-point for the preparation of any speech or presentation.
Invention: Finding ways to persuade.
Arrangement: Putting together the structure of a coherent argument.
Style: Presenting the argument to stir the emotions.
Memory: Speaking without having to prepare or memorise a speech.
Delivery: Making effective use of voice, gesture, etc.
Research shows that audiences are most attentive to the first five minutes of any talk (and most tend to become disengaged after five minutes has passed). It follows, then, that in individual presentations, you should try to make your most vital points within the first five minutes – and ideally, your talk should not last beyond five minutes! Quality is better than quantity, and your audience will thank you for it.
When preparing the content of a speech or presentation, try to write the purpose of your presentation – or your 'section' or 'segment', if working on a group presentation – in one sentence. Then consider what you want your audience to take away from your presentation – if they had to take one piece of information away from you, what would it be? Write, in a sentence, what you wish an audience to remember from your speech. These two sentences – the purpose of your talk and the takeaway message – must be kept in mind continuously while writing and rehearsing your presentation.
There are several ways for organising your argument to make it coherent and memorable. Once you have gathered all your points, you need to organise and present them in a way that is meaningful for the audience. Try starting with the most general point and working your way to the most specific, or present the easiest point first and then progress to the most complex. Depending on context, it might make the most sense to adopt a chronological order for your points.
Do not be afraid of using an attention-grabbing question as your opening statement. You can address the audience directly in the second person: You. It grasps their attention and demands their involvement.
Visual aids, when used discreetly, can be very effective in illustrating your points and adding vibrancy to your talk. They should be kept simple: try using charts, graphs, images or drawings, but resist the urge to make long PowerPoint presentations with multiple slides featuring several bullet-pointed sentences. While one-word bullet points can be useful to stress and summarise your points, too much activity on the screen will distract your audience from what you are saying, creating an uncomfortable disjunction between what they are trying to read, and what they are trying to listen to.
Eye contact with the audience is effective, but it can be nerve-wracking for the speaker. If this is the case for you, cheat: look at the back wall, slightly over the top of the audiences' heads. It will appear as if you are making eye co ntact, but will result in less self-consciousness for you. If you can, try moving your eyes from one side of the room to the other, occasionally stopping to look in someone's eyes.
If you are reading your presentation from notes, try to look up from your notes often – it gives the impression you are interested and engaged by what you are saying.
Above all, and especially in a foreign language, remember to speak slowly – slower than you think. Give your mouth time to get itself around all of the words, and be confident in choosing where to place stresses. Speed and pace can be very deceptive: what may sound painfully slow to your ears can sound like an incoherent gallop to an audience . If in doubt, go slower.
"I'm not up-to-date on that subject but I will research it and get back to you."


I would like to introduce myself. My name is Mithun Verma.
I have a bachelor degree in architecture. I can draw the Interior and Exterior and landscape of your house, villa, restaurant, apartments etc… as fastest as you need.
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For the fifth consecutive week, conforming 30-yr mounted price mortgage charges have dropped to new all-time lows. Mortgage rates resumed their ascent this week. On Monday, the ten Yr. U.S. Treasury Observe yielded 2.4607% and the 30 Yr. U.S. Treasury Bond yielded three.0770%. As an financial system heats up, inflation will naturally set it. To sluggish inflation, the Federal Reserve will likely be required to lift interest rates to tigheten credit score circumstances. As one of the nation's top on-line mortgage firms, our mortgage consultants provide unparalleled experience to help you discover the precise mortgage program on your financial targets and secure great 30 yr mounted mortgage rates.
09:00 AM Dallas Fed President Kaplan (FOMC voter) speaks: Federal Reserve Bank of Dallas President Robert Kaplan will participate in a panel discussion on Confidence in Unsure Times". We used rate of interest information from Freddie Mac's Main Mortgage Market Survey (PMMS) to examine historical mortgage charges and the components which have impacted their downward pattern. Additionally, Janet Yellen Fed President should have phrases outlining the Fed's plan to normalize their $4.5 Trillion Steadiness Sheet and path of Fed Funds Rate will increase going forward and interest rates on the whole.
Treasury Costs Rise and Yields Fall Moderately for U.S. 10 Yr. and 30 Yr. Treasuries. 30 Yr Mortgages based on Freddie Mac had been round three.ninety three% for conforming and four.10% for Jumbo merchandise. ˟Freddie Mac PMMS reported rates of interest, June eight, 2017. 30 Year Mortgages in line with Freddie Mac have been around 3.94% for conforming and 4.26% for Jumbo products. Mortgage interest rates have spent the last few years hitting historic lows, however specialists assume that era is ending because the economy continues to enhance and the Federal Reserve hikes rates.
The excessive and low 15-year FRM charges got here in at 4.eleven p.c and a couple of.52 p.c, respectively and both down from a week ago. The rate is rising zero.25% bps and is going from 0.seventy five% to 1.00% and is expected to impression all different Rates of interest together with these for Credit Playing cards and Home Mortgages. Both the 30 Yr. and 10 Yr. U.S. Treasury yields rose again to Mid- Could levels.
A yr in the past, the speed averaged 3.forty five percent.
For the fifth consecutive week, conforming 30-12 months mounted charge mortgage rates have dropped to new all-time lows. A yr ago right now, the 30-12 months FRM averaged 3.66 p.c. Treasury Yields closed relatively flat at present with the yield on the mortgage charge-pushed 10 year notice down three basis factors (bps) yielding 2.38% and the 30 12 months bond roughly unchanged yielding 3.eleven%. In May, Gross sales of Current Homes rose modestly to an annualized fee of 5.62 million items as Mortgage Rates continue to enhance for the spring residence buying season.
The September 10 Yr. U.S. Treasury Notice stood at a yield of 2.1423% and the 30 Yr. U.S. Treasury Bond yielded 2.6853%. The common 30-year, conforming mortgage rate of interest edged up to four.fifty eight p.c the week ending July 30, up from four.fifty two percent final week. Your credit score score and your debt-to-revenue charge are simply two factors that have an effect on your mortgage price. A year in the past, the rate averaged 3.45 p.c.
Once the information hits the media, the information is instantly outdated and new info is regurgitated by way of the system, making such commodities as a 30 12 months mortgage charges, yesterday's info. 30 Yr Mortgages based on Freddie Mac have been round 4.03% for conforming and four.09% for Jumbo products. With a 30-year mortgage , your first payment is roughly 35% principal and 65% curiosity.
For every one proportion point drop in mortgage charges, a purchaser's most dwelling purchase price will increase by approximately 11 %. With our very low charges, our 30-12 months Mounted Mortgage is a well-liked option for a lot of consumers. As expected, the Federal Reserve elevated its benchmark price Wednesday, raising it to 1.75 %, the very best degree in a decade. This week, the average fee on a 15-12 months fastened-charge mortgage was 4.24 %, down from four.three percent last week.
A year ago, the 15-yr FRM averaged 3.12 percent. The average 30-12 months mortgage interest rate dropped to 3.72 p.c, down from last week's three.76 p.c common.


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Top stories of 2021: Marion County schools return in-person despite pandemic struggles
Marion Star
Navigating changing guidelines and community voices, Marion County schools returned in-person this fall semester in a journey that started with public outcry regarding mask mandates and wrapped up with each district voting to adopt new guidelines allowing for a return to an optional mask policy.
The original Ohio Department of Health guidelines at the beginning of the fall semester required a person to quarantine for 14 days after a positive COVID-19 test. If this person were in a school and not wearing a mask, anyone who shared a classroom with that person would also have to go into a two-week quarantine.
While a district could remain mask-optional, many districts feared the consequences of seeing large numbers of students being forced to quarantine as a result of the policy.
For the first district to adopt a mask mandate, Marion City Schools, many parents were frustrated with the decision, including one father starting an online petition asking the district to give parents a choice in the conversation.
Superintendent Dr. Ron Iarussi said these policies were in place to make sure students could be in class five days a week. He added they would continue to monitor guidance from health experts like the CDC and Marion Public Health to see what changes needed to be made throughout the year.
Within the first month, Ridgedale, River Valley and Pleasant followed suit due to localized outbreaks, seeing similar parental feedback. Despite the quarantine guidelines, Elgin chose to remain mask-optional through the fall.
Districts saw cases drop through the fall as they worked to keep students in the school buildings, and on Oct. 25 the Ohio Department of Health released updated quarantine guidelines, incorporating mask-wearing and testing to reduce the spread of COVID-19 and provide a safe alternative to a period of quarantine.
Dr. Bruce Vanderhoff, MD, MBA, is the director of the Ohio Department of Health who explained the updated policy was intended to reduce unwanted quarantining to alleviate strain on parents, schools and local health departments, according to the Ohio Department of Health's Oct. 25 release.
Essentially, by using testing to a greater extent, mask mandates now could become an optional course of action for Ohio districts.
The new guidelines, "Mask to Stay" and "Test to Play" allowed for direct contacts to COVID in a school environment to remain in the classroom if they wore a mask for 14 days after their latest exposure. Students and staff could discontinue these procedures after seven days if they didn't develop symptoms and obtained a negative test result.
Ridgedale was the first district to adopt the policy, joining Elgin, a district "minimally affected" by the updated guidelines, in optional mask-wearing, .
Ridgedale held an emergency school board meeting Oct. 27 at 7 a.m. to discuss and evaluate the updated guidelines, and the board decided upon a mask optional policy that went into effect Nov. 1.
One by one, the other districts followed suit, beginning with Tri-Rivers Career Center and Marion City Schools adopting an optional mask policy following Thanksgiving.
River Valley voted to remove the mask mandate following winter break, and the Pleasant board voted unanimously at the Nov. 22 Board of Education meeting to release the mask mandate on Jan. 18, two weeks after the return to school from holiday break.
"I'm so proud of how our students and staff have persevered through these unprecedented challenges," River Valley Superintendent Adam Wickham said.
He believed the previous quarantine plans were effective in accomplishing River Valley's top goal of keeping students in school, but he was also hopeful for the district's new policy after adopting the updated health department guidelines in the new year.
"With the Ohio Department of Health releasing the Mask to Stay Guidance and Recommendations, this gives us the next path forward for how we can both live with the challenges presented by COVID-19 and keep students in school if a direct contact in the school-based setting," Wickham said.
For Ridgedale, the first school to give up its mask mandate, the updated guidelines were a successful protocol for the district, according to Superintendent Bob Britton.
"Really, our quarantines are nonexistent unless it happens outside of school. If a child gets exposed over, let's say, Thanksgiving break, then they have to quarantine themselves, but as far as school transmission and school quarantine, it is virtually none," Britton said as other districts began to adopt the updated quarantine guidelines.
For many of the districts, this return to being mostly open was to be maintained at a case-by-case basis of "until things change."
Marion City Schools noted the district would discuss revisiting the mandatory mask policy if cases began to rise once more.
Tri-Rivers Superintendent Dr. Charles Speelman described the backup plan upon the new protocol not proving successful in an update on the Tri-Rivers website when the school announced its return to a mask-optional policy.
"We understand the unpredictable nature of COVID. To assure that we don't go back to our former trajectory, some safeguards have been put in place to reinstitute masking should our quarantine/isolation levels warrant it," Speelman said. "If we would see a significant increase in the infectious rate in any of our programs or in the district, a mask mandate will be reinstituted for at least the next 10 school days."
Still, for now, each district will maintain in-person learning and a mask-optional policy going into 2022: a step forward from previous pandemic years spent primarily hybrid or online.


With all the ever-changing trends and such, I think we often forget how practical and versatile plain white shirts are. Think of them as a blank canvas. White tops can styled any way you choose with the right accessories (aka. the paint to your canvas). To show you, I used a plain white tank top and black shorts from eFoxcity as the base.
Sweet brights (left): Nothing screams summer like bright colours and feminine touches. Mixing bold colours with a white shirt is a great way to make those colours really pop. And since you want those colours to be the focus, accessories should stay minimal and more subtle. Even though the weather's hot, it doesn't mean you can't wear layers.
Edgy neutrals (right): Give this classic colour palette a twist by pairing the white top with some edgy accessories. Since the palette is neutral here, accessories are the main attraction. Have some fun with patterns too. It's a great way to add some fun to a simple and classy monotone look. Great for a day out or a night on the town.
Are those leather shorts? If so, I'm really liking the combo! Love the chevron necklace as well.
Amei a proposta, tudo cheio de estilo e a minha cara hehehe. Beijos!
I love the mix you created.. nice job!!! specially the short!!!
Lovely tips! I've been wanting to get some plain white shirts, and this had made me want them even more :) Great blog, truly helpful and enjoyable.
I love both outfit! Really nice post!
Plain white shorts are the foundation of my wardrobe!
those blue shoes are quite chic, love em!
How cute is the geometric triangle necklace!
Love both style options here. Both so different and chic.
Following you know via GFC!


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HomePosts tagged 'gold standard'
07/09/2019 07/09/2019 Brandon Christensen Links	Christianity, colonialism, gold standard, Norman Davies
The future of God in 1943 Tim Stanley, History Today
Against the old clichés, Anne Applebaum, New Criterion
French colonialism lives on in Africa Thomas Fazi, spiked
A free-market gold standard? George Selgin, Alt-M
06/05/2019 06/05/2019 Brandon Christensen Links	Arab culture, Cihan Artunç, gold standard, Ottoman Empire
How the Arabic language spread Barnaby Rogerson, History Today
Post-Ottoman ethnic cleansing Christopher Kinley, Origins
Legal decentralization and the Ottoman Empire NOL
Fear of a gold planet Larry White, Alt-M
04/25/2019 04/25/2019 Brandon Christensen Links	empathy, freedom, gold standard, internationalism
The case for empathy Elizabeth Segal, Aeon
Christianity: an internationalist perspective Ross Douthat, New York Times
Who'll defend freedom? Chris Dillow, Stumbling & Mumbling
Judy Shelton speaks up for the gold standard David Glasner, Uneasy Money
04/20/2019 04/20/2019 Brandon Christensen Links	anti-Semitism, culture wars, failure, gold standard
Good riddance to cultural Christianity James Rogers, Law & Liberty
When failure succeeds Chris Dillow, Stumbling & Mumbling
Interest rates and the gold standard Larry White, Alt-M
Trump's America, Netanyahu's Israel Adam Shatz, London Review of Books
Joakim Book: Winner of the 2018 Money Metals Exchange & Sound Money Defense League essay contest
12/04/2018 12/03/2018 Brandon Christensen Current Events	editorial duties, Financial Times, free banking, gold standard, Joakim Book, Mariana Mazzucato, Money Metals Exchange, Sound Money Defense League
Just to keep readers up to date, Joakim just won a scholarship for an essay on sound money and banking. Here is the link to the essay. Here is the link to the announcement. It reads as follows:
For the third straight year, Money Metals Exchange, a national precious metals dealer recently ranked "Best in the USA," has teamed up with the Sound Money Defense League to offer the first gold-backed scholarship of the modern era. These groups have set aside 100 ounces of physical gold to reward outstanding students who display a thorough understanding of the economics, monetary policy, and sound money.
A gold-backed scholarship?! Freakin' awesome. Here is Joakim's latest post at NOL, which was highlighted at the Financial Times' "Alphaville" blog (the FT is like the Wall Street Journal for countries that were once part of the British Empire).
One of the things I liked most about Joakim's latest blog was the fact that he incorporated a post by another Notewriter into his thoughts (in this case Rick's musings on Mariana Mazzucato and counterfactuals). The folks at "Alphaville" have been good to us over the years, too. They've linked, since 2017, to thoughts from Shree, Federico, Vincent (twice!), Mark, and Tridivesh as well as Joakim.
Joakim's well-deserved award stacks up quite nicely with Lucas' 2018 Novak Award from the Acton Institute and Nick's winning entry for the Mont Pelerin Society's 2018 Hayek essay competition. All in all, it's been a good year for the Notewriters.
Josh Barro and the Gold Standard
11/25/2016 11/29/2016 Vincent Geloso Economics	branch banking, Cato Institute, central banking, economic history, George Selgin, gold standard, John Allison, Josh Barro, monetary policy, unit banking
A few days ago, when it was announced that former Cato Institute president John Allison was under consideration for treasury secretary, Josh Barro of Business Insider dismissed the man as a "nutcase". Why? Because Allison believes that the Federal Deposit Insurance Corporation (FDIC) generates a moral hazard that contributes to financial crises (a statement I agree with).
This slur irked one of the economists at Cato, George Selgin, who took to twitter to challenge Barro. In the exchange, at one point, Barro indicated that the desire of libertarians to return to the gold standard confirms the "nuttiness" of libertarians and the people at Cato.
And here, Barro allows me to make a comment on the gold standard. The sympathy towards the gold standard is not sympathy towards gold per se, but rather sympathy for reducing the capacity of governments to exercise discretion. Basically, each time you hear some academic economist mention the gold standard, what that economist means is rules-based monetary policy.
The gold standard era (1875-1914) was not an image of perfect monetary policy. It is not a lost paradise that we ought to strive to. However, the implicit rules imposed by the system did favor more stability that would have been the case with discretion during that era. In fact, the era of central banking with the Federal Reserve has not been that great relative to the gold standard era (and in the world of central banks, the Fed is pretty good). A lot of the scorn that the gold standard era has received had to do with regulatory policy towards banks (notably regarding restrictions on branch banking which forced more volatility) or with the role of changes in international demand for assets (see here). Thus, in spite of its many flaws, the gold standard was not that bad (but it was not* gold per se that was helpful – it was the shunning of discretion by governments).
To be sure, I do not favor a return to a gold standard era. What I do like, and what I think John Allison likes as well, is the return to rules-based monetary policy. Josh Barro should have been intellectually generous and understand this key distinction. By not making that distinction, of which he must be aware given his background, he debased the debate over monetary policy.
The Gold Standard is Not Without its Costs
01/27/2015 01/27/2015 Warren Gibson Current Events, Economics	free banking, gold as money, gold standard, San Francisco, Well Fargo
News from the department of "life is bigger than art:" A few days ago I posted a fictitious account of a future Wells Fargo Bank operating on a revived gold standard. Turns out the real Wells Fargo, now a regular large commercial bank with its roots in the California gold rush, has a branch in downtown San Francisco at the site where the bank was first opened in 1852. The branch had an exhibit of historic artifacts, including gold nuggets from the gold rush era. I say had, because last night thieves rammed an SUV into the lobby and made off with the nuggets!
All of which underscores the fact that security is among the real costs associated with a gold standard. There is no law of nature that says free banking has to be based on gold, as I pointed out in my post. The market would, if free to do so, sort out costs and benefits and find the sort of system or systems that best satisfies consumers.
I love Wells Fargo; They Hate Me.
While I have this blog window open I'll add some unrelated comments about Wells Fargo. I am a happy customer and I credit this to the stiff competition among banks at the retail level. I regularly get solicitations from banks offering $100 bonus to open an account, with strings attached, of course but I stick with Wells Fargo. At the macro level our current banking system is gravely flawed but it works well for us retail customers.
I get free checking, a handy web site, and ATMs all over the place. When my credit card was hacked recently, they replaced it promptly and took my claims about false charges at face value. My average credit card balance last year was nearly $4,000 and I paid zero interest. That's because I pay it off at the last possible date, which is 25 days after billing. I pay an $18 annual fee but got $300 in cash rebates last year. I never pay late fees or penalties of any kind.
I do not have a savings account with Wells Fargo because those accounts are a joke. Their most popular savings account yields (drum roll) 0.01%. Not one percent, but one hundredth of one percent. For every thousand dollars I might keep in a savings account, I would get ten cents in annual interest, taxable. I do, however, hold shares of Wells Fargo preferred stock which pay 6.8% current yield (for you experts, a somewhat lower yield to call). The shares appreciated about 70% since I bought them at the bottom of the Great Recession.
So I am a money loser for Wells Fargo. They earn merchant fees from my credit card use and that's about it. They count on their average customer's ignorance and lack of financial discipline to generate fee income and to carry high-interest balances on their credit cards. Dear reader, if that describes you, don't despair. You can get out in front of the wave and let the banks work for you, not the other way around. It just takes a little knowledge and some discipline. Most important: if you can't pay cash for a purchase (or use a credit card paid off before interest kicks in), you can't afford it! That includes cars. Save up your money and buy a junker. Mortgages are OK for home purchases because of tax breaks, but even there, start with a healthy down payment.
Here endeth today's sermon. Go in peace and freedom!
A Tale of Free Banking
01/20/2015 01/20/2015 Warren Gibson Economics	currency, free banking, gold as money, gold standard, Larry White, market-based regulation, money, resource cost
Herewith we visit an imaginary future where free banking prevails. Government regulation of banks is a thing of the past. Banks have the freedom and the responsibility that they lacked under government regulation. In particular, private banks are free to print money, either literally, in the form of paper banknotes for the shrinking number of customers who want them, but in electronic form for most.
Print money? Horrors, you say! Fraud! Runaway inflation!
Not so fast. Come with me on a fantasy visit to the local branch of my bank, a future incarnation of Wells Fargo to be specific.
The first thing we notice is a display case showing a number of gold coins and a placard that says, "available here for 1,000 Wells Fargo Dollars each, now and forever." I have in my wallet a number of Wells Fargo banknotes in various denominations. I could walk up to a teller and plunk down 1,000 of them and the smiling young lady would hand over one of these coins. More likely I would whip out my smartphone and hold it up to the near-field reader, validate my thumbprint, and complete the transaction without paper.
I have a few of these beautiful gold coins socked away at home but I don't want any more today nor do I want to carry them around. Electronic money is ever so much safer and more convenient. Still, I am reassured by the knowledge that I could get the gold any time I wanted it. That is the basis for my confidence in this bank, not the FDIC sticker we used to see in the bank's window.
Confidence? What about inflation? Wells Fargo can create as many of these dollars as they want, out of thin air. Without government regulation, who will stop them from creating and spending as many dollars as they want?
The market will stop them, that's who.
In my scenario, Consumer Reports and a number of lesser known organizations track Wells Fargo and other banks. These organizations post daily figures online showing the number of Wells Fargo dollars (WF$) outstanding and the amount of gold holdings that the bank keeps in reserve to back these dollars. Premium subscribers, I imagine, can get an email alert any time a bank's reserves fall below some specified levels. Large depositors will notify Wells Fargo of their intention to begin withdrawing deposits and/or demanding physical gold. Small depositors piggyback on the vigilance efforts of big depositors. They know it is not necessary for them to pester the bank when the big guys are doing it for everybody.
Wells Fargo practices fractional reserve banking. They cannot redeem all their banknote liabilities and demand deposit liabilities at the stated rate of one ounce of gold per thousand WF$. This situation is clearly outlined in the contract that depositors sign and is printed on their banknotes.
Let's assume Wells Fargo backs just 40% of its banknotes and deposits with physical gold. How is this figure arrived at? By trial and error. Managers believe that if they let the reserve ratio slip much below 40% they will start getting flak from the monitoring websites and their big depositors. If they let it rise much above that figure their stockholders will begin complaining about missed profit opportunities.
Under fractional reserve banking, bank runs are possible. A bank run is a situation where a few depositors lose confidence in a bank and demand redemption of their deposits in gold or in notes of another bank. Seeing this, other depositors line up to get their money out, and if left unchecked, the bank is wiped out along with the depositors who were last in line. Bank runs are not a pretty sight.
Wells Fargo has a number of strategies for heading off a bank run. They have an agreement with the private clearing house of which they are a member that allows the bank to draw on a line of credit under certain circumstances. There is a clause, clearly indicated in the agreement with their depositors, allowing them to delay gold redemption for up to 60 days under special circumstances. They can reduce the supply of WF$ by calling in loans as permitted by loan agreements. Most important, though, is Wells Fargo's reputation. Not once in their long history has Wells Fargo been subject to a bank run. Management is keenly aware of the value of their reputation and will move heaven and earth to preserve it.
To sum up, Wells Fargo's ability to create unbacked money is limited by the public's willingness to hold that money. The bank can respond to changes in the demand to hold WF$ whether those changes are seasonal in nature or secular. They have strategies in place to head off runs should one appear imminent or actually begin.
What about competing banks, you may ask. Does Bank of America issue its own money? If so, there must be chaos with several different brands of money in the market. Are there floating exchange rates? Is a BofA$ worth WF$1.05 one day and WF$0.95 the next? What else but government regulation could put an end to such chaos?
The market, that's what else.
Competing suppliers of all sorts of products have an incentive to adhere to standards even as they compete vigorously. If we were in a classroom right now I would point to the fluorescent lights overhead. The tubes are all four feet long and 1.5 inches in diameter, with standard connectors. They run on 110 volt 60 Hz AC current. Suppliers all adhere to this standard while competing vigorously with one another. If they don't adhere to the standards people won't buy their light bulbs.
So it is that competing banks in my fantasy world have all converged on a gold standard. They all adhere to the standard one ounce of gold per thousand dollars. (I trust it's obvious that I just made up this number. Any number would do.)
Why gold? Gold has physical properties that have endeared it to people over the ages—durability, divisibility, scarcity to name a few. But other standards might have evolved such as a basket of commodities—gold, silver, copper, whatever.
You may raise another objection. All this gold sitting in vaults detracts from the supply available for jewelry, electronics, etc. That's a real cost to these industries and their customers.
Yes, it is. It's called the "resource cost" of commodity-backed money. To get a handle on this cost we must recognize that gold sitting in vaults is not really idle, but is actively providing a service. It is ensuring a stable monetary system immune from political meddling. How valuable is that? The market will balance the benefits of stability against the resource costs of a gold standard.
Furthermore we can expect resource costs to decline slowly as confidence in the banking system increases and people are comfortable with declining reserve ratios. Wells Fargo may find that a 30% reserve ratio rather 40% will be enough to maintain confidence. Other things equal, this development would boost profits temporarily, but those profits would soon be competed away, to the benefit of depositors and the economy as a whole.
Let's go back to bank runs. Aren't they something horrible, to be avoided at all costs?
Actually an occasional bank run is something to be celebrated. Not for those involved, of course, but to remind depositors and bank managers alike that they need to be careful. The same is true of the recent Radio Shack bankruptcy. Bad news for stockholders, suppliers and employees but an opportunity for competitors to learn from this bankruptcy.
Under my free banking scenario, depositors must take some responsibility for their actions. That doesn't mean they have to become professional examiners. They just have to take some care to check with Consumer Reports or other rating organizations before signing on with a bank.
Have I sketched out a perfect situation? There's no such thing as perfection in human affairs but I submit that this situation would be vastly superior to what we have now, where the Federal Reserve's policy of printing money to finance government deficits will end badly. Furthermore, relatively free banking has existed in the past and worked well. To learn more, start with Larry White's "Free Banking in Britain."
Tamny on Fractional-Reserve Banking: Right Conclusion, Faulty Analysis
08/18/2014 05/13/2015 Warren Gibson Current Events, Economics	Austrian Economics, FDIC, Federal Reserve, fractional-reserve banking, free banking, gold standard, hard money, John Tamny
John Tamny has posted a long and thought-provoking piece entitled "The Closing of the Austrian School's Economic Mind." He begins with a cogent critique of the anti-fractional-reserve stance of certain Austrian economists at the Mises Institute. Unfortunately, he follows that with a discussion of fractional reserves, the money multiplier, and other issues in which he goes badly astray.
As Tamny says, it is only some Austrians who have a problem with fractional-reserve banking. I consider myself an Austrian but I do not share the view of fractional reserves of the Mises Institute contingent, whom I prefer to call hard-money advocates.
The alleged problem, as the hard money people have it, is that under fractional reserves it appears that two people have a claim on the same dollar. This, they say, is fraud. But it is not fraud if the arrangement is disclosed to all parties. There are problems with our present-day fractional-reserve system, which I discuss below, but fraud is not one of them. (Incidentally, Tamny scores a point when he wonders about the hard money people calling in the state to crush the alleged fraud, but I believe most of them are anarchists and would have private protection agencies do the job. Just how this might work is beyond me.)
Tamny recognizes that fractional-reserve banking is the norm in all modern societies but he goes a little too far when he says fractional-reserve banking is a tautology. Modern banks do offer warehousing of money to those few who want it, via safe-deposit boxes. Anybody can rent one and stuff it full of currency or near-money assets like gold coins, and of course pay an annual fee. This is a minor sideline for banks, but it exists, so there is no tautology.
Also, contrary to Tamny, it is possible for a well-run business to fail for lack of money. This can happen if the supply of money in an economy falls short of the demand to hold it. (We must not mistake the demand to hold money with the demand to acquire money for spending. We all want to hold a certain level of cash, enough to cover emergencies or unexpected bargains but not so much as to pass up good opportunities for spending or investing it.) Money supply can get out of balance with money demand when there is a monopoly supplier, as there is in all modern economies, which has no market forces to tell it how much money to issue. There would be such forces in a free banking system, which is a topic for another time.
I promised to mention problems with fractional-reserve banking. The first is that government control of the banking system has short-circuited market forces that would signal to bank managers the amount of reserves they ought to keep on hand. If managers keep too little in reserves, they risk a liquidity crisis, or short of that, fear of a crisis on the part of depositors or would-be depositors. If they keep too much, they pass up profit opportunities and dis-serve their shareholders. The safety of a fractional-reserve bank depends critically on its reputation for prudence in lending. Without government interference in the forms of both controls (among them reserve requirements, capital requirements, and asset restrictions) and support (two that come to mind are Federal deposit insurance and the privilege of borrowing from the Federal Reserve), managers would very likely be more prudent about lending, and even more, about maintaining their reputation for prudent lending. Depositors would come to understand banks as something more like a mutual fund than a piggy bank.
This first point is not a strike against fractional reserves, but the government's failure to let a free-market fractional-reserve system work honestly and efficiently.
The second problem is the flip side of the first. Federal Deposit Insurance relieves depositors of any incentive to question the soundness of their bank's lending process. Depositors have no reason to look beyond the FDIC sticker in the window. Such is not the case with mutual funds which bear some resemblance to fractional-reserve banks. Most fund investors look carefully at ratings before investing. FDIC insurance does not eliminate risk, it socializes it, wreaking all sorts of distortions in the process.
I agree with Rothbard that occasional bank failures, leaving depositors and shareholders as well as other bank creditors empty-handed, should be welcomed because they put the fear of God into managers and depositors alike.
An advantage of a fractional reserve system over a 100% gold-backed system is that the latter would suck almost all the world's supply of gold into underground vaults leaving very little for industrial or ornamental uses. Fractional reserves free up a lot of that gold for these uses, more so over time as the reserve levels needed to maintain confidence in the system fall as the system works well and confidence increases.
Tamny next takes up the money multiplier, and in so doing goes wildly off the rails. He cites the textbook example:
Someone deposits $1,000 cash in bank A
Bank A lends out $900 and keeps $100 cash as reserves
The recipient of the $900 deposits it in bank B which loans out $810 and keeps $90 cash as reserves
The $810 is deposited in bank C, and on it goes.
Textbooks use this example to show how money is created by fractional-reserve banks via a multiplier which approaches 1/r where r is the fraction of deposits maintained as reserves by each bank, 1/0.1=10 in the example. The new money is categorized as M1, which includes currency and travelers' checks in addition to demand deposits (checking account balances).
So is M1 really money? Most definitely, because it fits the definition perfectly: a generally accepted medium of exchange. Is there anyone reading this piece who does not keep much more of his money in a checking account than in cash? How often do we pay cash these days? We use our debit cards, paper checks, or on-line transfers instead of currency. Or we use credit cards which we pay off by on-line transfer or check. All this is M1 money, all created by private banks under the aegis of fractional reserve banking. Notwithstanding the problems cited above, it all works rather well.
Tamny will have none of it. He goes through the same textbook exercise, imagining a group of friends in a room instead of a sequence of banks. He is wrong to say that no money is created in the process. To be sure, the amount of currency in circulation has not increased but he fails to notice that M1 money has increased. That's because each loan recipient has, in addition to some currency, a bank balance that he correctly believes he can spend without ever converting it into currency: M1 money. Tamny could give each borrower in his thought experiment an old-fashioned bank book as evidence of the new money. We have here the nub of Tamny's problem: his failure to recognize that M1 money (or rather the demand deposits that dominate that category) is real spendable money.
Tamny says money doesn't grow on trees, but he's wrong. The Fed creates base money out of thin air, as I'm sure Tamny agrees, but most money creation is done by private banks via the multiplier. And in truth, a fractional reserve system does create real wealth in the long run relative to a 100% reserve system because it increases the efficiency of the money and banking system, freeing up resources for alternate productive uses.
Is the fractional-reserve system inflationary? Yes, when currency flows into banks and is multiplied, it is. The reverse process is deflationary. But if overall bank reserve levels hold steady no price inflation is triggered, other things being equal.
Tamny's use of NetJets as an analogy to fractional-reserve banking is flawed. The same jet plane cannot be in two different places at the same time. But two dollars of checking account money, each having its origin in the same dollar of currency deposited, can both be spent. Yes, money does grow on fractional-reserve trees. No, real wealth does not.
Tamny asks, if banks can multiply money, why can't the same be done by "enterprising entrepreneurs eager to quickly turn $1,000 into $10,000 without doing anything?" They can actually, but they must do a lot of work first, like raising capital, setting up an office and web site, rounding up depositors and borrowers. To see details, go to www.startabank.com. The barriers to entry caused by licensing and such are actually rather modest.
Incidentally, the failure to recognize demand deposits as money goes back at least to the Currency School in 1840's England. This school of thought held that bank notes should be backed 100% by gold but failed to understand that checks payable on demand were also money and required backing.
"Credit is not money," says Tamny. What is it, then? "Credit is real resources." But this is a wide departure from the accepted meaning of the term and one that leads to all sorts of confusion. The common definition of credit is a willingness or commitment of lenders to provide loans to certain parties under certain conditions. Businesses often carry lines of credit with banks. Individuals have credit limits on their credit card accounts. No, credit is not money, but it comes close. We feel reassured by credit commitments which we can tap into when needed. Credit is a way to buy stuff, not the stuff itself. I should add that later in the same paragraph Tamny calls credit access to real resources (my emphasis). This is closer to the mark but is not the defining characteristic of credit. Stuff can be bought on credit or with currency or barter. Again, credit is the willingness or commitments of lenders to loan money. But later in the piece Tamny flips back to credit as "resources in the real economy."
At one point he says true inflation is "devaluation of the dollar." No, devaluation refers to a drop in exchange rates for a particular currency relative to other currencies. Devaluation is often but not always accompanied by inflation. I'll give him a pass on this and assume he means true inflation is a drop in the dollar's purchasing power.
Elsewhere he denies any role for Fed-induced "easy credit" in the housing bubble. It may not have been the dominant factor, and it may have been overpowered by countervailing factors in the examples he cites, but can there be any doubt that lower interest rates stimulate the quantity of housing demanded, other things being equal? Don't mortgage payments consist almost entirely of interest in the early years? Exercise for the reader: how much more house can you afford given $3,000 per month to spend on a 30-year mortgage if the rate drops from 5% to 4%? Answer: a lot more.
Another Tamny claim is that a growing economy always needs more money. This seems right, since growth generally means more of everything. But as clearing and payment system efficiencies increase, as we turn more to debit cards, credit cards, PayPal, and whatever comes next, our desire to hold money declines. This countervailing tendency could cancel out most or all of the effects of growth on money demand.
Tamny calls government oversight of money "horrid" and wishes for abolition of the Fed. Amen to both, but how can he be sure that, as he claims, credit would soar as a result? It probably would in the long run as sound money prompted increased confidence, but in the short run there could be liquidation of mal-investments and a general hesitation to save and invest pending clarification about where things were headed under the new setup.
John Tamny is correct: the anti-fractional-reserve crusade of the hard-money people is misguided. That case has been made repeatedly, deftly, and at length by Larry White and George Selgin, two of the best contemporary monetary economists. Sad to say, Tamny's analysis, riddled as it is with errors and confusions, falls far short of their work.
Free Banking Beats Central Banking
03/29/2013 05/13/2015 Fred Foldvary Economics	central banking, decentralization, Federal Reserve system, free banking, George Selgin, gold as money, gold standard, interest rates, market regulation, money, property rights, the Freeman, Tyler Cowen
In "More Bits on Whether We Need a Fed," a November 21 MarginalRevolution blogpost, George Mason University economics professor Tyler Cowen questions "why free banking would offer an advantage over post WWII central banking (combined with FDIC and paper money)." He adds, "That's long been the weak spot of the anti-Fed case."
Free banking is better than central banking because only in a free market can the optimal prices and quantities of goods be determined. Those goods include the money supply, and prices include the rate of interest.
There is no scientific way to know in advance the right price of goods. With ever-changing population, technology, and preferences, markets are turbulent, and there is no way to accurately predict fluctuating human desires and costs.
The quantity of money in the economy is no different from other goods. The optimal amount can only be discovered by the dynamics of supply and demand in a market. The impact of money on prices depends not just on the amount of money, but also on its velocity, that is, how fast the money turns over. The Fed cannot control the velocity since it cannot control the demand for money, that is, the amount people want to hold. Also, even if the Fed could determine the best amount of money for today, the impact on the economy takes several months to take effect, and so the central bankers would need to be able to accurately predict the state of the economy months into the future. Continue reading →
Gold and Money, II
02/05/2013 05/11/2015 Warren Gibson Economics, Liberty	Federal Reserve system, globalization, gold, gold as money, gold standard, goldbugs!, the Freeman
Last [blog post], we examined some propositions about gold as money, drawing from theory and history. [In] this [blog post] we ask whether and how gold might once again serve a monetary function.
Money of any sort, commodity-based or not, derives its value in large part from what economists call a "network effect." Like a fax machine, whose value depends largely on how many other people have fax machines, we value money because other people value it. We feel confident our money will buy us what we need tomorrow. A strong network effect means that something drastic has to happen before people will give up their familiar form of money.
Something drastic was happening when U.S. Rep. Ron Paul's Gold Commission was set up in 1979. By the time the commission's report was issued in 1980, inflation had reached alarming levels: The consumer price index was at 14 percent and rising. The prime rate was over 20 percent, and in 1980 silver exploded to $50 an ounce and gold surpassed $800 (about $2,300 in today's dollars). Bestselling books urged people to buy gold, silver, diamonds, firearms, and rural hideouts.
We now know that inflation was peaking and that the silver price spike was a fluke caused by a failed attempt to corner the silver market. But none of this was apparent at the time, so it was reasonable to wonder whether our monetary system would survive. What did happen, of course, was that the new Fed chairman, Paul Volcker, stepped on the monetary brakes hard enough to break the back of inflation. Two back-to-back recessions resulted but were followed by a long period of recovery in which both inflation and interest rates dropped steadily. The Gold Commission was largely forgotten, though the U.S. Mint did get into the business of producing gold coins in a big way. Continue reading →
Gold and Money
02/02/2013 05/13/2015 Warren Gibson Current Events, Economics, Liberty	decentralization, ethics, gold, gold as money, gold standard, goldbugs!, market regulation, moral hazard
Nothing seems to arouse passions—pro and con—quite like suggestions that gold should once again play a role in our money. "Only gold is money," says one side. "It's a barbarous relic," says the other. Let's turn down the heat a bit and look into some propositions about gold. That should lead us to some reasonable ideas about whether or how gold might return.
Propositions About Gold
Gold has intrinsic value. Actually, nothing has intrinsic value. The value of any good or service resides in the minds of individuals contemplating the benefits they might derive from it. What gold does have is some rather remarkable physical properties that make it very likely that people will continue to value it highly: luster, corrosion resistance, divisibility, malleability, high thermal and electrical conductivity, and a high degree of scarcity. All the gold ever mined would only fill one large swimming pool, and most of that gold is still recoverable.
Only gold is money. Although gold was once used as money, that is no longer the case. Money is whatever is generally accepted as a medium of exchange in a particular historical setting. Right now, government-issued fiat money, unbacked by any commodity, is the only kind of money we find anywhere in the world, with some possible obscure exceptions.
Perhaps people who say this mean that gold is the only form of money that can ensure stability. That's what future Federal Reserve Chairman Alan Greenspan thought in 1967, when he wrote "Gold and Economic Freedom" for Ayn Rand's newsletter. "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation," he said. When later asked by U.S. Rep. Ron Paul whether he stood by that article, Greenspan said he did. But he weaseled out by saying a return to gold was unnecessary because central banks had learned to produce the same results gold would produce. Continue reading →
10/29/2012 10/29/2012 Brandon Christensen Current Events, Economics, History, Liberty	Federal Reserve system, free banking, gold, gold standard, money, wildcat banking
That's the title of this piece in the Freeman by our very own Dr. Gibson. In it, he suggests:
Let's turn down the heat a bit and look into some propositions about gold. That should lead us to some reasonable ideas about whether or how gold might return.
Indeed. I'm tempted to copy and paste the whole thing, but just check it out.
PS I've been a very busy man lately, but I've got a bunch of almost-finished writings in the works. Stay tuned!
Lost in the Hulaballoo
07/01/2012 01/25/2015 Brandon Christensen Current Events, Economics, Links, Politics	free banking, gold standard, John Cochran, Joseph Salerno, Larry White, Ron Paul
…was Ron Paul's hearing on fractional reserve banking. Between the health insurance ruling and AG Holder's scandal this excellent use of congressional air time has gone largely unnoticed. Congressman Paul brought three well-known economists to testify and I have linked to all three of their testimonies below (I haven't read all of them yet).
Lawrence White
Joseph Salerno
If you manage to finish them soon, feel free to post what you got from them in the comments section.
06/24/2012 01/25/2015 Warren Gibson Liberty	Bretton Woods, economics, Foundation for Economic Education, George Schulz, gold standard, Jacques Rueff, Ludwig von Mises, Milton Friedman, price controls, Richard Nixon
People who were alive in 1941 can tell you right where they were on Pearl Harbor day. I can tell you exactly where I was when I heard that President Kennedy had been shot. We all remember 9/11. Another day that I sticks in my memory just as clearly is one that is now remembered by few: Sunday, August 15, 1971.
There was no internet in those days and no cable news channels, so I was mercifully spared the news until the following morning at 8:15 when I opened my motel room door in Huntington Beach and saw the L.A. Times on the doorstep with a headline that said something like "Nixon Imposes Price Controls."
I was shocked and disgusted for two reasons: though I was employed as an aerospace engineer, I was beginning to learn about free markets, having attended a FEE seminar the year before at which Mises and Hazlitt – now saints of Austrian economics – lectured. And I had voted for Nixon in 1968, naively believing the Republicans were the party of free markets. The following year I signed up with the new Libertarian Party and never looked back on the Republicans until 2008 when Ron Paul ran.
Here is a video recording of Nixon announcing a 90-day "freeze" on prices and wages. Note the Orwellian references to the evils of price controls even as he imposes them.
So what was the big emergency that prompted such a drastic response? Unemployment was running about 6%; price inflation at about 5%. Nixon's problem was that an election was coming up in the following year. He remembered bitterly his narrow loss to Kennedy in the 1960 election which he attributed to a mild recession of that year. Now he was determined to goose the economy and get himself re-elected. Like FDR, Nixon loved dramatic strokes and never mind the consequences. Earlier that year the man who had made his reputation as an implacable anti-communist had made a sudden and dramatic overture to communist China. So on that sleepy Sunday Nixon delivered another bold stroke, in an end run around the Democratic opposition. Perhaps it worked: he won 49 states in the 1972 election with considerable help from his bumbling opponent, George McGovern.
His action was quite popular. The stock market surged that Monday morning and polls showed a 75% approval rate. But Milton Friedman was right when he predicted "utter failure and the emergence into the open of suppressed inflation." Another freeze was imposed in 1973 but this time the damage to the economy became evident. As explained in the excellent video series "The Commanding Heights," "ranchers stopped shipping their cattle to the market, farmers drowned their chickens, and consumers emptied the shelves of supermarkets." Inflation reached a peak of about 14% before the decade was out and before the powers that be accepted the fact that excessive money creation is the main cause of price inflation. George Schulz, Nixon's economic advisor and a vigorous opponent of price controls consoled himself with the thought that Nixon had demonstrated dramatically how not to fight inflation.
Nixon wasn't finished. During that same Sunday broadcast he slapped a 10% tariff on imported goods, accompanied by some blather about fairness. More significantly, he ended the Bretton Woods international monetary system. That arrangement, conceived in 1944, had the U.S. dollar convertible into gold at $35 per ounce, but only for foreign central banks. Not only could private banks and private citizens not convert their dollars, it was even illegal to own gold (with exceptions for dentists, jewelers, etc.). I made a point of violating that particular law on principle before the prohibition was lifted in 1974.
In all fairness, the Bretton Woods system was doomed long before that August. The gold exchange standard had persisted only because of a gentlemen's agreement that European central bankers would refrain from exercising their redemption rights to any significant degree. So many new dollars had been created to finance Lyndon Johnson's war in Vietnam and his "Great Society" at home, and so many of those dollars were parked overseas as a result of trade imbalances, that the U.S. government could not come close to honoring its Bretton Woods obligation in full. The French under de Gaulle and his gold-bug advisor Jacques Rueff had become increasingly strident about the situation, but in early August the British ambassador showed up with $3 billion to be redeemed, and that may have been the straw that broke the camels back.
So on that same Sunday Nixon slammed the gold window shut (video here) pushing us out of the frying pan of Bretton Woods, under which numerous wrenching devaluations had wracked international trade, into the fire of floating exchange rates, the system we have now. The devaluations are gone but the wild swings in currency values, something that was not foreseen by Milton Friedman who was an early advocate of currency markets, are almost as bad. Now, wonder of wonders, there is resurgent talk of some sort of gold standard.
Reagan tempted me with with some pretty inspiring rhetoric in his 1980 campaign about getting the government off our backs. Not enough to vote for him, but I was glad he got elected and with the help of Fed chairman Paul Volcker he did break the back of inflation, but he never got spending under control and he didn't deserve as much credit as he got for the fall of communism, which had been rotten at its core for decades. But Bush I was terrible and in hindsight Clinton wasn't all bad, yet I confess I was relieved when Bush II beat Gore in 2000. I needn't remind anyone what a disaster GWB was with his wars, his unfunded medicare expansion and his bailouts (OK, thanks for the tax cut).
I'm voting for Gary Johnson who won't win, and I really don't care who wins. Gridlock is the least bad outcome, even if that means the despicable Obama stays in office facing a Republican congress.