How Much Property Does The Rothschild Family Have
By Lucia Lepe
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sell gold to stop the price from inflating? Because their main function is neither to trade gold nor stabilize its price. Historically, they have not been good at selling high and buying low.
The possible answer? The dollar is weak and the us government has little incentive to make it stronger given the huge us trade deficit. The Yen seems
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How Much Property Does The Rothschild Family Have - Lucia Lepe
How Much Property Does The Rothschild Family Have
How Much Property Does The Rothschild Family Have
Copyright © 2023 by Lucia Lepe
All rights reserved
TABLE OF CONTENTS
CHAPTER 1 : NATURAL RESOURCES AND ECONOMIC DEVELOPMENT
CHAPTER 2 : FOR YOU
CHAPTER 3 : CLOSED-END FUNDS
CHAPTER 4 : A GOOD EXAMPLE OF THIS IS THE UNUSUAL TURNAROUND
CHAPTER 5 : WHEEL OF FATE
CHAPTER 1 : NATURAL RESOURCES AND ECONOMIC DEVELOPMENT
Natural resources constitute an important part of the overall capital of a country. Land, forest, and water provide vital factors of production. Just like machines and buildings, natural resources depreciate when used and may be completely lost unless allowed to regenerate. Natural resources play another critical role: protecting human beings and physical capital from adverse impact of pollutants and toxic substances generated during the production process.
Overemphasis on rapid economic growth leads to excessive exploitation of forests, forests and soil and over production of pollutants that damage the quality of air, water and land. Over time, this leads to a loss in productivity and spread of diseases affecting people's health. In countries like India and China, this loss may add up to 8-10% of GDP.
There are three main factors behind this problem. First, the cost of pollution generated by individuals or factories on society is not borne by the polluters. Second, natural resources are over-exploited because the property rights are not well defined, people often pay zero or very low price and treat them as free goods. Finally, some well-intentioned government policies such as high subsidies on agricultural inputs, artificially low prices of fuel and energy, enhance these problems.
The solution? Adopt the Polluter Pays
principle through taxes and setting standards. The power plant should bear the cost of reducing air pollution, the fertilizer factory should be made responsible for treating the pollutants before they get into water system and the motorbike users should pay for clean fuel and periodic inspections of their bikes. Governments should closely examine subsidies and reduce/remove bad
subsidies so that those who use the natural resources pay the actual price.
62. NATURAL RESOURCES AND ECONOMIC DEVELOPMENT
Resources are an important part of a country's total capital. Land, forests and water provide essential factors of production. Like machinery and buildings, resources are eroded during use and can be completely lost if not regenerated. Natural resources also play an important role in protecting people and material assets from the negative effects of pollutants and toxic substances created during the production process.
Over-emphasis on accelerating economic growth leads to over-exploitation of forest, fishery and land resources, as well as the creation of many pollutants that damage air, water and land quality. This will lead to a loss of productivity and the spread of diseases that affect human health. In countries like India and China, this loss can account for up to 8-10% of GDP.
There are three main factors behind the above problem. First, polluters are individuals or factories that do not bear the costs that pollution causes to society. Second, resources are overexploited because property ownership is not clearly defined, people often do not pay or pay very little for the use of resources, so they are often considered free. Finally, some well-intentioned government policies also contribute to the above problems, such as high subsidies for agricultural inputs or artificially low fuel and energy prices.
Solution? Apply the polluter pays
principle through taxes and setting standards. Power plants must bear the cost of air pollution treatment, fertilizer plants must be responsible for waste treatment before pouring into water sources and motorcyclists must pay for clean materials and for periodic vehicle inspections. The government should carefully review subsidies, reduce or eliminate bad
subsidies. Those who use resources must pay the full price and cannot get them for free.
(Saigon Times Daily March 31, 2003)
63. The Trend of Gold Prices
Seven years ago, the world price of gold peaked at $850 an ounce. It was below $260 in 1998. Last week, it reached $400. The price in Vietnam is at 7.7 million dong per tael (one tael equals 1.32 ounces), and some project that the price of gold may go up to 8 million dong per tael, if there is little change in the exchange rate.
Why does the price go up so high? The explanation is easy during times of inflation: all prices are up, so does the gold price; however, the world has experienced deflation recently, so this can not be the explanation.
Some suggest that when the US$ interest rate is down, gold producers have less incentive to keep money and tend to buy back the gold they have sold forward, pushing the price up. It is true that the interest rate has been going down in recent years. But this argument fails to explain the 1995-1998 period, when both interest rates and gold prices went down together.
Central banks in the world hold over 30,000 tons of gold. Why don't they sell gold to stop the price from inflating? Because their main function is neither to trade gold nor stabilize its price. Historically, they have not been good at selling high and buying low.
The possible answer? The dollar is weak and the us government has little incentive to make it stronger given the huge us trade deficit. The Yen seems unsafe given the Japanese government debt reaching 135% of GDP. The Euro is no better, given the heavy budget deficit of large economies in the block. Thus, gold has increasingly become the choice to store wealth. When the demand increases, the price rises.
How far will the trend go? Don't look at Economists for the answer. They are only good at explaining past prices, not the future prices.
63. GOLD PRICE TREND
Seven years ago, world gold prices peaked at $850/ounce. In 1998 the price dropped below $260. Last week the price of gold reached $400. The price in Vietnam is also up to 7.7 million VND/tael (an amount equal to 1.32 ounces). Some people predict that the price of gold will reach 8 million VND/tael, if there are no fluctuations in exchange rates.
Why are prices so high? During times of inflation the explanation is easy: when everything goes up in price, so does gold. However, there was only deflation in the world at that time, so this explanation is not good.
Some people believe that when dollar interest rates fall, gold producers do not want to hold money and tend to buy back the gold they sold under futures contracts, thereby pushing up prices. It is true that interest rates have fallen in recent years, but this argument does not explain the period 1995-1998, when both interest rates and gold prices went down together.
Central banks around the world store more than 30,000 tons of gold. Why don't they sell to prevent gold prices from rising! Because their function is not to trade or stabilize gold prices. They have never been good at buying low and selling high.
What could be the answer? The dollar is weak and the US government does not want to let the dollar strengthen while the trade deficit is still huge. The Yen is not safe at all, because the Japanese government's debt has reached 135% of GDP. The Euro is no better, as the main economies in the bloc are running heavy budget deficits. Thus, gold is increasingly chosen as a means of storing assets. If demand increases, price increases.
How far will this trend continue? Don't expect answers from economists. They are only good at interpreting past prices, not future prices.
(Saigon Times Daily December 1, 2003)
64. Foreign Aid
In the annual meeting of donors to Vietnam in December 2003, the amount of Official Development Assistance (ODA; often referred to as foreign aid) committed to Vietnam in 2004 will reach the record amount of US$2,839 billion. When a nation needs capital for development, foreign aid as well as foreign investment can play a crucial role. This article examines a few issues regarding foreign aid.
First, the amount of aid actually disbursed is often lower than the amount pledged. Disbursement depends on the ability of the recipient to generate projects and to satisfy the conditions that donors attach to their support. During the past decade, only 47% of aid commitments to Vietnam have been disbursed. Second, not all aid takes the form of grants. Concessional loans, which include a grant element of 25% or more, are also classified as ODA. The grant element is the difference between amount disbursed and the present value of future payments, using normal discount rates.
The fact that most aid is not free has implications. A Ministry of Finance official once remarked that aid is not much different from loans, and that subsequent generations will have to pay for the profligacy of the current generation.
Third, two-thirds of Vietnam's foreign aid is bilateral, and such aid often comes with requirements to purchase goods and services from the donor country. This is called tied aid.
The World Bank estimates that tied aid reduces the value of the assistance by 25%.
Foreign aid is also associated with national self-esteem, as it is given to the poorest countries only. Thailand recently announced that it will no longer need foreign aid. In a recent Tuoi Tre article, Dr. Le Dang Doanh addressed a question: Vietnam has always been an aid recipient. When will we become aid donor?
64. FOREIGN AID
During the annual meeting of donors to Vietnam in December 2003, the amount of ODA capital (Official Development Assistance or commonly known as foreign aid) committed to Vietnam reached a record level of $2.839 billion. When a country needs capital to develop, foreign aid and investment play an important role. This article examines some aid issues.
First, the actual disbursed capital is often lower than the committed capital, depending on the ability of the recipient country to propose projects and satisfy the donor's attached conditions. Over the past decade, the aid disbursement rate in Vietnam only reached 47% of committed capital. Second, not all foreign aid is free. Concessional loans that have a non-refundable element of over 25% are collectively called ODA. The non-refundable element is the difference between the disbursed capital and the present value of future payments, applying a normal discount rate.
The fact that most aid is not free is of great significance. A leader of the Ministry of Finance once had to remind that aid and loans are not much different, future generations will have to pay for the wastefulness of the current generation.
Third, two-thirds of aid in Vietnam is bilateral aid, and often comes with conditions to purchase goods or services from the donor country. This type is called tied aid
. The World Bank estimates that for tied aid, the value of support is reduced by 25%.
Aid is also related to national pride, because it is only given to the poorest countries. Recently, Thailand announced that from now on it no longer needs foreign aid. In a recent article published in Tuoi Tre newspaper, Dr. Le Dang Doanh mentioned a question: until now, Vietnam has always been an aid recipient. When will we become an aid country?
(Saigon Times Daily December 15, 2003)
65. The Rule of 72
Ever wonder how long it would take for your savings to double if deposited in a bank at a fixed rate of interest? Or have you considered what the growth rate must be in Vietnam if targets of doubling income every ten years are to be met?
One way, of course, is to consult a financial table