Seigniorage, a word unknown
Seigniorage is not a word is explained to us every day.
Around it will create several controversial but often are not taken into account.
I will only give a definition of this term that could be used later, perhaps in my other articles or you can hear it in the future.
The information that I found on this are not many, but investigating a fund you can find several articles and video.
The delivery system of money in the past worked well:
For every dollar paid out they needed a gold reserve to cover the disbursement of this money, because it was not in operation on the course and forced there to be able to change money with the gold going into the bank.
In the 70s, however, Nixon introduced the course forced, as the currency in circulation was too much compared to gold.
Only reason why $ 100 value $ 100 is the fact that we agree to that piece of paper worth $ 100.
Since then every issue of money is covered in part with the gold reserve and partly by issuing state bonds (debt).
But if the notes are why our debt?
Because in truth the banks are not government, but real companies.
They print money and LEND it to the state in exchange for securities (debt).
Then print a sheet from 0.05 cent (for example), but with a value of $ 100, and lend us generating debt.
The payment of this debt the bank will get $ 100 + interest - 0.05 cent.
Warning:
does not mean that all the debt is with the printing of banknotes, because inside there is the debt for public spending.
Understand this mechanism if we make appropriate notes in the portfolio, we can see that the ownership of money is not ours.
Top notes you can find the logo ECB, while on the coins minted by the Mint was not there are signs of the bank.
So here also explains why it is preferred to use up to 2 coins in Euro currency.
If they were printed in the paper would contribute to further increase the public debt.
Warning:
The bank decides monetary policy in relation to the economic policy of the states.
So the issue of banknotes is controlled, but the gain is banking that I have mentioned before.
This gain is called Signoraggio.
As the bank a private credit institution and has generated income is taxed and partly recovered by the state.
If you understand the system you may ask why we do not print?
Good question.
Starting from the history, it seems that since the beginning Roman is the state raised the cost of the printing press by giving to others, but UEL period coins were completely gold, and then for example:
100 coins in gold (20 grams of gold) worth 20 grams of gold that you had in your pocket and for which the value printed was equal to the value given in the system.
Over time, those who printed money have lightened the load of gold in the money and away from the real value and nominal value by separating the real one.
This until you comes to our times, in 1971 when Nixon completely block the exchange U.S. dollars gold.
Now we have discovered why not paintwork us, but why not go back to the old system (as do China and Cuba, which own banks)?
To this, I have not replied.
But we need a little ‘history.
Kennedy in 1964 tried to insert a coin and the state issued an order that allowed him, but unfortunately a few months later he was killed, and the measure was not used more, even if still in force.
The real estate market and the crisis
As stated by many experts in the field, the housing market begins to be in crisis and have the first signs of slowing.
The report was produced by Nomisma and highlights some key data:
Price recorded the first decline of the last 11 years (-1%) even if compared to other countries like the U.S. (-16%) and Britain (-15%). But the most worrying concerns the solvency of the market.
Borrowers increasingly insolvent
According to the report of the property Nomisma in 2008 on the suffering loan will be in about 7 billion on residential market from 120 billion (5.5%). The ascent is clear: in 2006 the suffering amounted to 3.9 billion in the first half of 2007 had already increased to 4.6 billion to end 2007 at 5.1 billion and 5.6 billion still to June 30 2008.
In the second quarter of 2008, the contraction of credit given is of 7.9% -10.1% that is if we consider only those homes. Throughout the first half of this year is down 5.3%. A quarter of the current disbursements of loans are for replacement value in that account for 13% delivery of (3.76 billion over 29).
Market decline of 14%. Prices decreasing slightly (-1%)
In the first half of 2008, sales have decreased by 14 percent. By the end of the year the industry loses 24 billion turnovers. These means 160 thousand houses sold in less (-20%). A return to the levels in 2000-2001. The prices in the first six months of 2008 fell for the first time in 11 years, although in a low (-1%) compared to the rest of the world (-16% in the United States, -15% in England).
The data clearly describe a moment of economic crisis.
Money is finite and the Italians do not have the opportunity to purchase home and borrowing.
Furthermore, all have understood the negative period in loans; few people dare to bear so heavy a debt, knowing the consequences to which they meet.
Finally there is the deflation in the housing market, which consequently slows down the process.
If the house is now 100, I am sure tomorrow will cost 90, then wait 90, but after so that will wait 80 more, triggering a dangerous vicious circle that could cause further damage to the country.
Surely the price will bring more purchases over time in the housing market, but we must await the return of the Break Even Point, or the balance between demand and supply.
The security token generated by
To improve security banking was introduced this device from the name token.
Many of you maybe have him, but do not know how you call.
San Paolo Bank was among the first to adopt it and after the merger with Banca Intesa, but it has adhered to this security system.
Called o-key, its generic name is token.
Generates a unique numeric code used only for access and that is regenerated every time you press the ‘key.
You wondering how you may make a token and server coordinate bank?
It may seem complicated, but in truth is a simple mechanism and hard “crakkabile”.
The generator of passwords does not “talk” with the server of the bank, but also manage to synchronize with a particular algorithm, which generates a numerical key, only to a given time and for a given user.
At the same time the server is running the same process, linking it to the user.
If the code between the server and token are the same: connection made.
I remember that there is no lock information 100% secure.
Must be considered that can be a good reason for discouragement for those who want to try to take possession of our data using procedures hackers.
As always I write: always given much attention to procedures carried out and if you’re not sure.
Reviews of Italian mortgages on Bank Loans
To apply for the loan that best meets your needs and your monthly income, you may want to spend some time on this site: Bank loans.
Here you will find all the financing provided by banks, by banks and major stock brokerage assets.
The loans are divided by category: fixed rate, floating rate, mixed, 100% mortgages to young couples, first home, second home, for self and business.
Written in a simple way, the site presents descriptions, characteristics and advantages of each financing with a further deepening of links to official sites.
There are also sections devoted to loans, current accounts and credit cards.
Banca Monte Parma and loans “flexible”
This year’s Euribor reached historical peaks and has discouraged many people from buying a new home.
Banca Monte Parma thought to encourage the opening of a mortgage with a new product.
The flexible loans.
This kind of loan is characterized by a degree of flexibility granted by the bank to the customer.
Banco Monte Parma fact requires that the customer may have periods of crises, of varying severity.
Perceiving the period now before us has added three options to the obligor.
- Skipping rata for those who after a year of signing the contract, with regular payments always have problems with payments and want to skip this installment. You can use this clause for a maximum of 5 times, each annually, following a request by registered letter 10 days before the usual deadline.
- Exchange rate that allows you to switch from a fixed rate to a variable or vice versa, but your chance well, because you can do this only once for the duration of the loan.
- Reduction of the installment and then extending the contract period. As in the previous clause is an option to play only once.
Overall the package is not male. Abbinato also to a lowering of rates for this period may be a good opportunity to open a fixed rate loan with these options.
Consumer associations in the project with clear terms
With a press release draft agreements clearly announces its expansion involving 9 consumer associations (Adiconsum, adoc, Casa del Consumidor, Active Citizenship, Confconsumatori, Consumers League, Consumer Movement, Movimento Difesa del Cittadino and National Union of Consumers).
Patti Chiari was born in 2003 aims to inform the customer about the world financial banking.
In 2008 was published a new section dedicated to the world of loans, with interesting test to prove their knowledge and questionnaires to better understand what the customer needs.
Documentation personal loans and the sale of the fifth
webworld.myblog has published an interesting table that included the necessary documents to obtain two types of loans: personal loans (typical purchase for consumption) and the assignment of the fifth (the direct sale of a portion of salary).
PERSONAL LOANS
Personal documents: ID card or Driving License, Tax Code.Proof of income: salary, pension slips, Oa M, CUD, statement of income (one or more of these documents according to the type of income)
Privacy: Supplied by the lender to the customer
Contract Funding: Provided by the lender to the customer
Utilities Gas, Electricity, Telephone: Copy of the last regular bills paid
FIFTH ASSIGNMENT OF SALARY LOAN AND DELEGATIONPersonal documents: ID card or Driving License, Tax Code.
Proof of income: Last CUD (for employees), pension slips, M and O a CUD (for pensioners).
Certificates of salary: Released by the employer on the financial model provided) or Certificate of Service.
Benestare: Issued by the employer to complete the operation.
Adusbef opposed to the project clear Patti
Yesterday I wrote the extension draft to 9 pacts clear association’s consumers, but these lacked one of the most important Adusbef.
The latter has expressed opposition Patti and clears in a press release describing their reasons:
Not bad picture of the happy experience in advertising Lehman Brothers and other securities 47 toxic substances, recommended as reliable, while the opposite was judged risky securities such as the status of BTP, the Italian Banking Association (ABI), which will be called to respond court casual advice on buying, real fraudulent deception, continued to forage a site, such as Patti Chiari, who had already closed the office, only if there a Bank of Italy and equally respectful of human rights, rather that the interests of bankers.
The financial education campaign sponsored by the Consortium Patti Chiari and nine consumer groups to bring the Italians to issues of economics and finance, through a dissemination of financial and web-based on spatial proximity: what financial education can expect citizens, savers and customers, from banks that do not comply with laws and ordinances, as the avoidance of blame Bersani Decree on subrogation, portability and symmetry of interest rates, which caused untold damage to families?
What ‘Open Doors to PattiChiari’ Abi speaking, when the associate banks continue to gain on variable rate mortgages rather than align the rates to the ECB’s operations with rates charged on loans to an average of 0.54% higher than the average of the rates charged by European banks and a + 1.10%, which lenders require Italians on personal loans and consumer credit, or when the banks continue to impose the “lace” the Commission found maximum, equal to 4 , 47% on an annual basis, which weigh the cost of credit, increased 45% over the year?
The Abi, instead of trying to shame Patti Chiari, an expensive and dispenser of invests more money confident that consumers and savers can believe the balderdash arrogant banks, who continue to commit fraud, as evidenced by the Lehman case and Madoff scandal last for 50 billion dollars, families and destroy the savings sweaty.
I fully reported the press release because I think there are words to be omitted. Adusbef hits a “hard face”, with dry but clear words, the novelty introduced by Patti Chiari and the entire banking system, most often guilty of having “avoided” the rules with harsh consequences to the detriment of the customer.
From the release it is clear one thing: “do not come to terms with the enemy.”
Adusbef is very angry with the ABI and does not believe that the pacts could help clear their clients.
Objectively the site contains many details, the reader will then have to implement those concepts than useless or you do not trust.
Patti is clearly only a project, based mainly (but not only) on knowledge and communication to the reader.
It’s always good to emphasize going beyond a first reading, but better to investigate the knowledge gained. Read only one opinion is always off-road, falling into error.
Internet in this case there is help with several sites and the possibility of bridging or even respond to our concerns.
Just make it a good use.
The insurance consultant dedicated Count
Recently we are developing several insurance companies that provide their services mainly online or via telephone.
The system has proven that it works, but creates a problem to the end user. Each time the operator with whom you speak will change and we need to summarize the situation to which we refer with considerable waste of time and misunderstandings.
The company Conte has created a solution to avoid this annoying problem. When called, a hard voice spoke through a number that enables us to choose the operator with which we speak are combined with an approval number. Through this solution the operator dedicated to continually manage our situation, without unnecessary changes in person.
The idea seems very good and we could extend not only to the insurance sector (where the consultant has spent much needed), but also to all those areas where we never know with whom we speak. It would also be a great way of creating an evaluation of the automatic selection of the best consultants and a higher quality service.
Guarantee fund for the anti-Liguria
Introducing the brand “quality to excellence ligurian craft”, the President of the Liguria region Burlando has made some statements.
In Italy will be allocated a fund anti-crisis (collateral) for the credit to all small / medium-sized craft enterprises.
Will be allocated 60 million euros according to the chairman, should help companies to leave the negative period in which they fall.
“Making a claim to craft healthy activities, said the President of Liguria Region, Burlando - that due to the difficulties in crisis have access to the interruption of a circular path. Use is set in motion a positive path that is not the economy, but an agreement between institutions and private craft to give them a hand. “
“For their stressed-Burlando-companies must do their part, qualifying products and the step taken by the new quality mark is a step in this direction.”
The measure could help to enlarge the coils close to the credit and thanks to this transfer of money from the region, dealers could only partially recover and make some investment to start the appropriate circle to a positive overall improvement (at least in the region) .
