|
Money Burning
Money burning or burning money is the purposeful act of destroying money. In the prototypical example, banknotes are destroyed by setting them on fire. Burning money decreases the wealth of the owner without directly enriching any particular party. It also reduces the money supply and (very slightly) slows down the inflation rate. Money is usually burned to communicate a message, either for artistic effect, as a form of protest, or as a signal. In some games, a player can sometimes benefit from the ability to burn money (battle of the sexes). The burning of money is illegal in some jurisdictions. Macroeconomic effect For the purposes of macroeconomics, burning money is equivalent to removing the money from circulation, and locking it away forever; the salient feature is that no one may ever use the money again. Burning money shrinks the money supply, and is therefore a special case of contractionary monetary policy that can be implemented by anyone. In the usual case, the centr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Burn Your Money
A burn is an injury to skin, or other tissues, caused by heat, cold, electricity, chemicals, friction, or ultraviolet radiation (like sunburn). Most burns are due to heat from hot liquids (called scalding), solids, or fire. Burns occur mainly in the home or the workplace. In the home, risks are associated with domestic kitchens, including stoves, flames, and hot liquids. In the workplace, risks are associated with fire and chemical and electric burns. Alcoholism and smoking are other risk factors. Burns can also occur as a result of self-harm or violence between people (assault). Burns that affect only the superficial skin layers are known as superficial or first-degree burns. They appear red without blisters and pain typically lasts around three days. When the injury extends into some of the underlying skin layer, it is a partial-thickness or second-degree burn. Blisters are frequently present and they are often very painful. Healing can require up to eight weeks and scarri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steven Landsburg
Steven E. Landsburg (born February 24, 1954) is an American professor of economics at the University of Rochester in Rochester, New York. From 1989 to 1995, he taught at Colorado State University. Landsburg is also an outspoken commentator on economic, legal, and political issues whose comments have sometimes been regarded as controversial. Education Landsburg was an undergraduate at the University of Rochester. Landsburg received a PhD in mathematics from the University of Chicago in 1979. Writings and work Commentary and opinions Landsburg wrote a column on "everyday economics" for ''Slate'' magazine from 1996 to 2008. The subjects of the columns were diverse and often drew on current affairs. In them, Landsburg discussed the national debt, the obesity crisis, payments to Hurricane Katrina evacuees in New Orleans and salary caps in the NFL. Landsburg also discussed recent research in micro-economics and its implications, as in an article on the value of mobile phones and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often as an attempt to reduce inflation or the interest rate, to ensure price stability and general trust of the value and stability of the nation's currency. Monetary policy is a modification of the supply of money, i.e. "printing" more money, or decreasing the money supply by changing interest rates or removing excess reserves. This is in contrast to fiscal policy, which relies on taxation, government spending, and government borrowing as methods for a government to manage business cycle phenomena such as recessions. Further purposes of a monetary policy are usually to contribute to the stability of gross domestic product, to achieve and maintain low unemployment, and to maintain predictable exchange rates with other currencies. Monetary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Counterfeit Money
Counterfeit money is currency produced without the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery, and is illegal. The business of counterfeiting money is nearly as old as money itself: plated copies (known as Fourrées) have been found of Lydia#First coinage, Lydian coins, which are thought to be among the first Western coins. Before the introduction of Banknotes, paper money, the most prevalent method of counterfeiting involved mixing base metals with pure gold or silver. Another form of counterfeiting is the production of documents by legitimate printers in response to fraudulent instructions. During World War II, the Nazis Operation Bernhard, forged British pounds and American dollars. Today some of the finest counterfeit banknotes are called ''Superdollars'' because of their high quality and imitation of the real US dollar. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heist Film
The heist film or caper film is a subgenre of crime film focused on the planning, execution, and aftermath of a significant robbery. One of the early defining heist films was ''The Asphalt Jungle'' (1950), which ''Film Genre 2000'' wrote "almost single-handedly popularized the genre for mainstream cinema". It featured robbers whose personal failings ultimately led to the failure of their robbery. Similar films using this formula were ''Armored Car Robbery'' (1950), '' The Killing'' (1956), and '' The Getaway'' (1972). By the 1990s, heist films began to "experiment and play with these conventions," incorporating things like comedy into heist stories. Characteristics of the genre While there is sometimes some confusion as to what counts as a heist film, there are characteristics that most films in the genre follow. The most basic of these is that films in the genre tend to follow the planning, execution and aftermath of one large robbery. While there can be smaller crimes lead ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mad Money (film)
''Mad Money'' is a 2008 crime comedy film starring Diane Keaton, Queen Latifah and Katie Holmes, and directed by Callie Khouri. It is loosely based on the 2001 British film ''Hot Money''. Plot The film begins ''in medias res'', with the suspects getting caught and being interrogated. Then it flashes back to three years earlier and the film continues forward from there, interspersed with occasional bits from the interrogation. Three years before getting caught, Bridget Cardigan (Diane Keaton) lived a comfortable upper middle class life until her husband Don Cardigan (Ted Danson) was "downsized" from his position and sank into debt. The paycheck for Selina, the housecleaner, bounces again. Selina confronts Bridget and suggests she take a job as a janitor at the Federal Reserve Bank of Kansas City. On her first day on the job, Bridget hatches a scheme to steal worn-out dollar bills slated for destruction. For her team she chooses Nina (Queen Latifah), who works the dollar bill shredd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hot Money
In economics, hot money is the flow of funds (or capital) from one country to another in order to earn a short-term profit on interest rate differences and/or anticipated exchange rate shifts. These speculative capital flows are called "hot money" because they can move very quickly in and out of markets, potentially leading to market instability.CRS Report for Congress, July 21, 2008: China’s "Hot Money" Problems, by Micheal F. Martin and Wayne M. Morrison Illustration of hot money flows The following simple example illustrates the phenomenon of hot money: In the beginning of 2011, the national average rate of one year certificate of deposit in the United States is 0.95%. In contrast, China's benchmark one year deposit rate is 3%. The Chinese currency (renminbi) is seriously undervalued against the world's major trading currencies and therefore is likely to appreciate against the US dollar in the coming years. Given this situation, if an investor in the US deposits his or her mone ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loughton Incinerator Thefts
The Loughton incinerator thefts occurred between 1988 and 1992 at the Bank of England's incinerator plant at Debden in Loughton, Essex – four employees of the plant stole more than in a series of regular thefts. The four participants and their spouses were arrested in 1992, with only one being prosecuted in criminal court. In a civil suit, the remaining members of the group were ordered to repay half a million pounds to the bank. The story of the case has been adapted into two feature-length films. Thefts Between 1988 and 1992, four employees of the Bank of England's incinerator plant at Debden in Loughton, Essex, conspired to steal around £600,000 in banknotes that were due to be destroyed, in a series of thefts. They changed padlocks on locked doors in order to be able to steal from piles of notes which had been taken out of circulation. One participant, Christine Gibson, smuggled the notes out of the plant by stuffing them into her underwear. Gibson initially worked in coll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Nixon Carver
Thomas Nixon Carver (25 March 1865 – 8 March 1961) was an American economics professor. Early life He grew up on a farm, the son of Quaker parents. He received an undergraduate education at Iowa Wesleyan College and the University of Southern California. After studying under John Bates Clark and Richard T. Ely at Johns Hopkins University, he received a Ph.D. degree at Cornell University under Walter Francis Willcox in 1894. Career He held a joint appointment in economics and sociology at Oberlin College until 1902, when he accepted a position as professor of political economy at Harvard University (1902–1935). For a time, there he taught the only course in sociology. He was the secretary-treasurer of the American Economic Association (1909–1913) and was elected its President in 1916. Carver's principal achievement in economic theory was to extend Clark's theory of marginalism to determination of interest from saving ('abstinence') and productivity of capital. He made pio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and coins, while the treasury executes its circulation in the domestic fiscal system. The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes. The departm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
