The 10 Attributes of Wildly Successful People
.The 10 Attributes of Wildly Successful People
Lambeth Hochwald
You know those people who seem to ace everything in life? Researchers have uncovered their secrets to success.
Secrets Of Success
We all know people who seem to be accomplished in their every pursuit. So it’s especially interesting to read a new British study that drills into the 10 attributes that make people extra good at what they do.
And they all have a few things in common. For starters, they identify and understand their strengths when pursuing a goal, says Amanda Potter, the lead researcher, founder, and managing director at Zircon Management Consulting, a business psychology company in England.
High achievers also tend to be motivated by a negative or positive life event, and they credit their success to having someone in their life who believed in them.
The 10 Attributes of Wildly Successful People
Lambeth Hochwald
You know those people who seem to ace everything in life? Researchers have uncovered their secrets to success.
Secrets Of Success
We all know people who seem to be accomplished in their every pursuit. So it’s especially interesting to read a new British study that drills into the 10 attributes that make people extra good at what they do.
And they all have a few things in common. For starters, they identify and understand their strengths when pursuing a goal, says Amanda Potter, the lead researcher, founder, and managing director at Zircon Management Consulting, a business psychology company in England.
High achievers also tend to be motivated by a negative or positive life event, and they credit their success to having someone in their life who believed in them.
After conducting interviews with 42 high-achievers, including a range of CEOs, entrepreneurs, sports stars, and media personalities, Potter concluded that we all have a different combination of winning attributes—in other words, no two winners are exactly the same—however, all successful people have some or all of 10 specific attributes.
“For example, it may be your single-minded focus and determination or it might be your curiosity and willingness to disrupt the current situation that makes you successful,” she says. Read on as our two experts explain why the qualities that engender success and why they’re so key.
Burning Ambition
Successful people are driven to achieve their goals, but for the ultra-successful there’s an even bigger mandate, says Isaura Gonzalez, PsyD, a licensed clinical psychologist in New York City.
“Burning ambition takes into account the desire to hit your mark each and every time as well as an unrelenting desire to be the best of the best.” Say these mantras every day to reach your goals.
Dogged Determination
Being doggedly determined means that obstacles are not deal-breakers, but mere inconveniences that need to be overcome. “There is no hesitation, just action, when it comes to success,” Gonzalez says.
“Success comes when you have hit your mark, and determination is the road on which you travel to hit that mark.” Get ready to troubleshoot with this guide to handling tricky interpersonal situations.
Realistic Optimism
Optimism is important, but you can’t expect that the sun will shine 100 percent of the time. “It’s imperative to focus on maintaining positivity while acknowledging the realistic obstacles that can deter us from achieving our goals,” Gonzalez says.
“It’s not thinking that nothing will ever go wrong. Rather, it’s about thinking that we can achieve what we set out for ourselves even if there are setbacks.” Here’s what optimistic people do every day to see the glass half-full.
To continue reading, please go to the original article here:
https://www.rd.com/advice/work-career/attributes-of-super-successful-people/
Why Successful People Have Hobbies
.Why Successful People Have Hobbies
Ryan Holiday October 1, 2019
My new book Stillness is the Key just debuted at #1 on the New York Times and Wall Street Journal Bestseller lists. The piece below is based on some of the ideas in it. Check out the book, and please leave an Amazon review—it helps a lot!
Winston Churchill was a mediocre painter and a worse bricklayer, but to these two hobbies, the world owes a great debt.
“It is a pushing age,” Churchill wrote his mother as a young man, “and we must shove with the rest.” His ambition was legendary. Multiple times, he shoved his way to the top of British politics, when Britain was the world’s dominant power. Once he was there, he did not let up. During war-time, it was not uncommon for him to work 110-hour weeks. Between 1940 and 1943, he traveled something like 110,000 miles by air and sea and car. A bodyguard once said that Churchill kept “less schedule than a forest fire and had less peace than a hurricane.”
It’s this exhausting workload that is worth examination in a time of “millennial burnout,” and digital distraction. More and more people fear that taking their foot off the gas for even a second will only cause them to fall further and further behind in a rigged economy that cares little for individual happiness. Certainly, it’s something I’ve wrestled with as I look back on my very busy twenties (six books and three careers) and look forward towards my thirties with children.
So how did Churchill manage? How did he not burn out and die early?
Why Successful People Have Hobbies
Ryan Holiday October 1, 2019
My new book Stillness is the Key just debuted at #1 on the New York Times and Wall Street Journal Bestseller lists. The piece below is based on some of the ideas in it. Check out the book, and please leave an Amazon review—it helps a lot!
Winston Churchill was a mediocre painter and a worse bricklayer, but to these two hobbies, the world owes a great debt.
“It is a pushing age,” Churchill wrote his mother as a young man, “and we must shove with the rest.” His ambition was legendary. Multiple times, he shoved his way to the top of British politics, when Britain was the world’s dominant power. Once he was there, he did not let up. During war-time, it was not uncommon for him to work 110-hour weeks. Between 1940 and 1943, he traveled something like 110,000 miles by air and sea and car. A bodyguard once said that Churchill kept “less schedule than a forest fire and had less peace than a hurricane.”
It’s this exhausting workload that is worth examination in a time of “millennial burnout,” and digital distraction. More and more people fear that taking their foot off the gas for even a second will only cause them to fall further and further behind in a rigged economy that cares little for individual happiness. Certainly, it’s something I’ve wrestled with as I look back on my very busy twenties (six books and three careers) and look forward towards my thirties with children.
So how did Churchill manage? How did he not burn out and die early?
How did a man with so many responsibilities that on a piece of notepaper he once sketched himself a pig, loaded down with a twenty thousand-pound weight, not only survive the workload of two wars, five kids, 10 million written words and live into his 80s, but do so without ever losing his trademark joie de vivre?
The answer is simple: The restorative power of a good hobby.
As it happens, Churchill believed in the power of hobbies almost as much as he believed in British exceptionalism. He was an avid practitioner too. Writing in one of his lesser known books, "Painting as a Pastime," Churchill explained that, “The cultivation of a hobby and new forms of interest is...a policy of first importance to a public man. To be really happy and really safe, one ought to have at least two or three hobbies, and they must all be real.”
A few centuries before Churchill, Aristotle said that this was in fact the main question of life: What do we fill our non-working hours with? What do we do for leisure?
Churchill knew the power of cultivating a good hobby, because painting saved his life. In 1915, reeling from the failure of the Gallipoli campaign, which he had championed and then watched helplessly as it cost some 46,000 men their lives, Churchill had what might appear to be a nervous breakdown.
Blamed for unspeakable tragedy, his competency questioned, his name suddenly radioactive, Churchill described feeling like a “sea-beast fished up from the depths, or a diver too suddenly hoisted, my veins threatened to burst from the fall in pressure.
I had great anxiety and no means of relieving it; I had vehement convictions and small power to give effect to them.” It was in this moment of crisis that his sister-in-law handed him a toy set of oil paints. They had given her children much fun, she said. Maybe they could help him.
Churchill, and indeed Western Civilization, reaped the fruits of this sweet offer. A few years ago, a study conducted by professors at Carnegie Mellon University and the University of Pittsburgh and published in the Psychosomatic Medicine Journal, found that people who made time for leisurely activities — defined as “activities that individuals engage in voluntarily when they are free from the demands of work or other responsibilities” — experiences increased life expectancy and life engagement.
It improved them physically, mentally and spiritually — as anyone who has pursued a hobby has experienced first hand. The research is even clearer when those hobbies are related to art in some way or another. Studies show that even just looking at art helps produce psychological resilience, but creating it is even better.
A 2016 study of 700 adults conducted by Dr. Christina Davies published in the BMC Public Health Journal found that those who recreationally engaged in some form of art (even just two hours per week) experienced significantly better mental well-being.
To continue reading, please go to the original article here:
https://www.salon.com/2019/10/01/why-ambitious-people-have-unrelated-hobbies/
Columbus Day / Indigenous Peoples Day
.Columbus Day is a national holiday in many countries of the Americas and elsewhere which officially celebrates the anniversary of Christopher Columbus's arrival in the Americas on October 12, 1492 (Julian Calendar; it would have been October 21, 1492 on the Gregorian Proleptic Calendar, which extends the Gregorian Calendar to dates prior to its adoption in 1582).
Christopher Columbus was an Italian explorer who set sail across the Atlantic Ocean in search of a faster route to the Far East only to land at the New World. His first voyage to the New World on the Spanish ships Santa María, Niña, and La Pinta took approximately three months.
Columbus and his crew's arrival to the New World initiated the Columbian Exchange which introduced the transfer of plants, animals, culture, human populations, and technology (but also invasive species, including communicable diseases) between the new world and the old.
The landing is celebrated as "Columbus Day" in the United States but the name varies on the international spectrum. In some Latin American countries, October 12 is known as "Día de la Raza" or (Day of the Race).
Columbus Day / Indigenous Peoples Day
Columbus Day is a national holiday in many countries of the Americas and elsewhere which officially celebrates the anniversary of Christopher Columbus's arrival in the Americas on October 12, 1492 (Julian Calendar; it would have been October 21, 1492 on the Gregorian Proleptic Calendar, which extends the Gregorian Calendar to dates prior to its adoption in 1582).
Christopher Columbus was an Italian explorer who set sail across the Atlantic Ocean in search of a faster route to the Far East only to land at the New World. His first voyage to the New World on the Spanish ships Santa María, Niña, and La Pinta took approximately three months.
Columbus and his crew's arrival to the New World initiated the Columbian Exchange which introduced the transfer of plants, animals, culture, human populations, and technology (but also invasive species, including communicable diseases) between the new world and the old.
The landing is celebrated as "Columbus Day" in the United States but the name varies on the international spectrum. In some Latin American countries, October 12 is known as "Día de la Raza" or (Day of the Race).
![330px-Portrait_of_a_Man,_Said_to_be_Christopher_Columbus[1].jpg](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1571073638201-C3H9ODXPWF020WQZ69K9/330px-Portrait_of_a_Man%2C_Said_to_be_Christopher_Columbus%5B1%5D.jpg)
This is the case for Mexico, which inspired Jose Vasconcelos's book celebrating the Day of the Iberoamerican Race. Some countries such as Spain refer the holiday as "Día de la Hispanidad" and "Fiesta Nacional de España" where it is also the religious festivity of la Virgen del Pilar.
Peru celebrates since 2009 the "Day of the original peoples and intercultural dialogue". Belize and Uruguay celebrate it as Día de las Américas (Day of the Americas). Since Argentina's former president Cristina Fernández de Kirchner officially adopted "Día del Respeto a la Diversidad Cultural" (Day of Respect for Cultural Diversity) November 3, 2010. "Giornata Nazionale di Cristoforo Colombo or Festa Nazionale di Cristoforo Colombo" is the formal name of Italy's celebration as well as in Little Italys around the world.
Celebration of Christopher Columbus's voyage in the early United States is recorded from as early as 1792. The Tammany Society in New York City (for whom it became an annual tradition) and the Massachusetts Historical Society in Boston celebrated the 300th anniversary of Columbus' landing in the New World.
President Benjamin Harrison called upon the people of the United States to celebrate Columbus's landing in the New World on the 400th anniversary of the event.
President Benjamin Harrison proclaimed it as a one-time national celebration in 1892 — in the wake of a bloody New Orleans lynching that took the lives of 11 Italian immigrants. The proclamation was part of a broader attempt to quiet outrage among Italian-Americans, and a diplomatic blowup over the murders that brought Italy and the United States to the brink of war.
During the anniversary in 1892, teachers, preachers, poets and politicians used rituals to teach ideals of patriotism. These rituals took themes such as citizenship boundaries, the importance of loyalty to the nation, and the celebration of social progress.
Many Italian-Americans observe Columbus Day as a celebration of their heritage, and the first such celebration was held in New York City on October 12, 1866. The day was first enshrined as a legal holiday in the United States through the lobbying of Angelo Noce, a first generation Italian, in Denver.
The first statewide holiday was proclaimed by Colorado governor Jesse F. McDonald in 1905, and it was made a statutory holiday in 1907.
In April 1934, as a result of lobbying by the Knights of Columbus and New York City Italian leader Generoso Pope, Congress and President Franklin Delano Roosevelt proclaimed October 12 be a federal holiday under the name Columbus Day.
To continue reading, please go to the original article here:
The Truth Explained About Columbus Day
.The Truth Explained About Columbus Day
Matthew Rozsa October 14, 2019
Christopher Columbus is a historical figure celebrated as a mythical hero in spite of his genocidal and racist past. There are many good reasons as to why Columbus Day is such a controversial holiday.
Like Andrew Jackson, Christopher Columbus is a historical figure who is celebrated as a mythical hero in the U.S. in spite of his genocidal, racist and pro-slavery legacy. As a result, a movement exists to replace the national holiday known as Columbus Day with Indigenous People’s Day.
Here is the truth about Columbus Day, explained:
1. Christopher Columbus enslaved the Taínos he encountered in the present-day Bahamas
When Columbus “discovered” the American continents in 1492 — millions lived there long before Europeans learned of their existence — he encountered a civilization of people known as the Taínos.
The Truth Explained About Columbus Day
Matthew Rozsa October 14, 2019
Christopher Columbus is a historical figure celebrated as a mythical hero in spite of his genocidal and racist past. There are many good reasons as to why Columbus Day is such a controversial holiday.
Like Andrew Jackson, Christopher Columbus is a historical figure who is celebrated as a mythical hero in the U.S. in spite of his genocidal, racist and pro-slavery legacy. As a result, a movement exists to replace the national holiday known as Columbus Day with Indigenous People’s Day.
Here is the truth about Columbus Day, explained:
1. Christopher Columbus enslaved the Taínos he encountered in the present-day Bahamas
When Columbus “discovered” the American continents in 1492 — millions lived there long before Europeans learned of their existence — he encountered a civilization of people known as the Taínos.
![255px-Columbus-day[1].jpg](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1571072905292-N26W1MKBCTZDZIB8SE82/255px-Columbus-day%5B1%5D.jpg)
By his own description, they were curious and friendly, eager to help the new group of people who had landed on their shores.
Over time, Columbus enslaved and exploited them, thereby establishing a precedent wherein Europeans would come to the American continents, exploit natives and steal their land.
His actions also laid the foundations for the Europeans to introduce African slavery to the American continents, and Columbus is known to have had an African slave with him on his so-called voyages of discovery.
2. Columbus Was Also A Tyrant, Generally Speaking
After becoming governor and viceroy of the Indies, Columbus let the power to go to his head, becoming a brutal autocrat who was eventually loathed by his own followers. When one man was caught stealing corn, Columbus responded by having his nose and ears cut off before selling him into slavery.
When a woman claimed that Columbus was of lowly birth, his brother Bartolomé cut out her tongue, stripped her naked and had her paraded around the colony on the back of a mule.
And these are just two examples of many. Eventually, the Spanish monarchs realized that Columbus had become power mad and ordered him and his brothers to return to Spain. He never regained his power, although his freedom was eventually restored.
To continue reading, please go to the original article here:
https://www.salon.com/2019/10/14/the-truth-about-columbus-day-explained/
Don't Stop Believin' By Dr. Dinar
.Don't Stop Believin' by Dr. Dinar
Welcome to the middle of October, 2019. The year that should've never been.
The year this GCR rollout would never see the beginning of Summer.
Let alone the end of Summer, rolling into Fall.
No way... no how.
Sure, we heard it was gonna be a slow rollout but c'mon, this is beyond ridiculous.
This slowwwwww rollout is rolling slower than a snail moonwalking backwards, uphill, in the snow.
Slow to the point of thinking it's not actually happening at all.
Don't Stop Believin' by Dr. Dinar
Welcome to the middle of October, 2019. The year that should've never been.
The year this GCR rollout would never see the beginning of Summer.
Let alone the end of Summer, rolling into Fall.
No way... no how.
Sure, we heard it was gonna be a slow rollout but c'mon, this is beyond ridiculous.
This slowwwwww rollout is rolling slower than a snail moonwalking backwards, uphill, in the snow.
Slow to the point of thinking it's not actually happening at all.
And for many among us, like it's never gonna happen.
Yeah, we continually hear rumors of all the things supposedly going on behind the scenes and yet, never actually seeing the results of any of those things actually taking place in real life, only adds to the feeling of nothing happening.
I recently received an email update of current going's on in Dinarland and despite one or two keywords here and there, it very well could've been posted in 2009.
Same redundant rumors reimagined for a new-ish crop of currency holders.
And honestly, it kinda freaked me out for a second.
Why on earth would they think we'd still fall for that stuff.
Do they really believe we haven't learned anything whatsoever. I certainly hope not.
I mean, I'd hate to think we haven't gained any ground on the knowledge front in all this time.
After all, we've all had plenty of time to review our notes.
Yes, the landscape has changed, as well as the overall mission.
But the basic game... not so much.
C'mon, don't we deserve better. A little somethin' for the effort.
The least they could do is add a little more trickery, a bit more color to the smoke they're constantly blowin' our way, helping to keep us mushrooms slightly more entertained while we attempt to stumble our way around in the dark..
I'd like to think that they think that we think we've learned something along the way.
They were regurgitating old articles a decade ago. Rinse and repeat.
Isn't it about time they came up with something new.
We've been through more than enough Blue Moons and 3 day weekends and Ramadan's and Black Friday's and ends of quarters and Crazy 8's than even the most superstitious among us can handle. And still nothing.
Nothing tangible. Nothing we can use as a "See, I told you this was real." for all of our doubting family and friends to see.
Not that we need to prove anything to them.
Nope. We did our homework and we know it's real.
Or at least we think we know it's real.
Okay, let's just say we still believe it's real-ish, with a good chance that it very well could be real.
And maybe that's all we get.
Maybe that's all we have to hang on to. Our beliefs.
Our belief in the unseen. The unprovable.
Looking back, that's pretty much the same feeling I had when I first got involved in this made for TV journey.
I really hoped it was real.
Although I must admit that I was a heckuva lot more excited way back when than I am now.
Hearing the screeching brakes of the Fed Ex truck as it pulled up in front of the house totally gave me the warm 'n fuzzies.
The sheer relief I felt knowing my recently ordered dinar arrived just in time to beat the pending last minute RV deadline was a big time rush to say the least.
Unfortunately, after a decade of being imminently ever so close, my excitement level has dropped considerably.
Same with my expectation level. It's dropped accordingly.
When I first bought in the rampant rumors of a $0.10 IQD RV emanating throughout Dinarland was a dream come true.
Sounds insanely lame now but think about it.
I'd just lost everything I owned in the R.E. market crash and somehow the Universe saw fit to introduce me to the RV of the IQD.
Talk about timing, you couldn't have scripted it any better.
Matter of fact, I'd lost more than everything because I still owed on things I no longer owned.
Call it desperation but at that point I really had next to no hope of resurrecting my life otherwise. Not any time soon anyway.
However you choose to look at it, the possibility of renting a Condo and leasing a new car post RV were simply impossible to ignore.
After all, I no longer had either, so let's just say the timing was pretty much spot on.
And with that foundation of hope, I gratefully jumped in with every last nickle I had.
Combined with the belief that I would be there at the finish line when the RV was released in the next couple weeks, guaranteed I'd be one of the lucky few.
The few believers that took a chance on that too good to be true so called scam known as the RV of the Iraqi dinar.
Yes, over the years, armed with much more knowledge in the form of a GCR, I've come to believe in a much higher rate.
Along with that, the size of my dreams have increased as well. To the point of allowing myself to dream of a large home, fully paid off, along with helping family and friends fulfill some of their needs as well.
But as time has gone on I've been subjected to situations that have forced me to sell back most of my currency, all in the name of survival.
After all, if I'm not there at the finish line, then nobody wins.
But one thing I will never do is give up and sell out completely.
Doing that only ensures that neither I nor the ones I hope to help will ever reap the rewards of this seemingly never ending journey.
Please remember that no matter how long you've been involved, and how brutal this journey can be at times, you're still one of the fortunate few.
The few lucky enough to even know about this once in a lifetime life changing event.
Whether it happens next week, next month or next year, the one thing we know for certain is that eventually it will happen.
It has to. Many countries, including ours, are depending on it.
Eventually Iraq will be released from the program rate and those of us holding dinar will finally go on to do all of our long dreamed of good deeds.
I've come too far to turn back now and I can only hope you feel the same way.
Hang in there folks, we're getting closer with each passing day.
Sincerely,
Dr. Dinar
Funny, Short and Inspirational Retirement Quotes:
.Funny, Short and Inspirational Retirement Quotes:
I have compiled a good number of words of wisdom or better, what I like to call the best retirement quotes that will brighten your day.
This list of retirement quotes has been compiled from various people whose words of wisdom couldn’t go unnoticed.
Inspirational Retirement Quotes
Here are some of the most popular inspirational quotes on retirement that you should read before retiring as well as after.
1. “Just because you are getting older and have retired doesn’t mean that you should have less confidence in your abilities. Think about the experience and knowledge that you have gained by all the years you have worked” -Theodore W. Higginsworth
2. “Retirement: It’s nice to get out of the rat race, but you have to learn to get along with less cheese.” – Gene Perret
3. “Planning to retire? Before you do, find your hidden passion. Do the thing that you have always wanted to do.” – Catherine Pulsifer
4. “Age is only a number, a cipher for the records. A man can’t retire his experience. He must use it. Experience achieves more with less energy and time.” – Bernard Baruch
5. “Every new beginning comes from some other beginning’s end.” – Lyrics from “Closing Time” by Semisonic
Funny, Short and Inspirational Retirement Quotes:
I have compiled a good number of words of wisdom or better, what I like to call the best retirement quotes that will brighten your day.
This list of retirement quotes has been compiled from various people whose words of wisdom couldn’t go unnoticed.
Inspirational Retirement Quotes
Here are some of the most popular inspirational quotes on retirement that you should read before retiring as well as after.
1. “Just because you are getting older and have retired doesn’t mean that you should have less confidence in your abilities. Think about the experience and knowledge that you have gained by all the years you have worked” -Theodore W. Higginsworth
2. “Retirement: It’s nice to get out of the rat race, but you have to learn to get along with less cheese.” – Gene Perret
3. “Planning to retire? Before you do, find your hidden passion. Do the thing that you have always wanted to do.” – Catherine Pulsifer
4. “Age is only a number, a cipher for the records. A man can’t retire his experience. He must use it. Experience achieves more with less energy and time.” – Bernard Baruch
5. “Every new beginning comes from some other beginning’s end.” – Lyrics from “Closing Time” by Semisonic
6. “What does retirement mean now that there are so many opportunities for learning, for caring, for serving? We can redefine aging.” – Rachel Cowan, Wise Aging
7. “Retirement is a new beginning, and that means closing the book on one chapter to begin the next.” Sid Miramontes, Retirement: Your New Beginning
8. “Retirement gives you the time literally to recreate yourself through a sport, game, or hobby that you always wanted to try or that you haven’t done in years.” – Price, Stephen D.
9. “Shall the day of parting be the day of gathering? And shall it be said that my eve was in truth my dawn?” by Kahlil Gibran
10. “There is a whole new kind of life ahead, full of experiences just waiting to happen. Some call it ‘retirement.’ I call it ‘bliss.’” – Betty Sullivan
11. “Dare to live the life you have dreamed for yourself. Go forward and make your dreams come true” – Ralph Waldo Emerson
12. “Don’t simply retire from something; have something to retire to.” – Harry Emerson Fosdick
13. “Preparation for old age should begin not later than one’s teens. A life which is empty of purpose until 65 will not suddenly become filled on retirement.” – Arthur E. Morgan
14. “You are never too old to set a new goal or dream a new dream.” – C.S. Lewis
15. “What we call the beginning is often the end. And to make an end is to make a beginning. The end is where we start from.” – T.S. Eliot
16. “Retirement is not a life without purpose; it is the on-going purpose that provides meaningfulness” – Robert Rivers
17. “Retirement is …. a time to experience a fulfilling life derived from many enjoyable and rewarding activities.” – Ernie J. Zelinski
18. “If we had no winter, the spring would not be so pleasant; if we did not sometimes taste of adversity, prosperity would not be so welcome.” – Anne Bradstreet
To continue reading, please go to the original article here:
What Are Special Drawing Rights (SDR)?
.Special Drawing Rights (SDR)
Reviewed By Will Kenton Updated Apr 7, 2019
What Are Special Drawing Rights (SDR)?
Special drawing rights (SDR) refer to an international type of monetary reserve currency created by the International Monetary Fund (IMF) in 1969 that operates as a supplement to the existing money reserves of member countries.
Created in response to concerns about the limitations of gold and dollars as the sole means of settling international accounts, SDRs augment international liquidity by supplementing the standard reserve currencies.
An SDR is essentially an artificial currency instrument used by the IMF, and is built from a basket of important national currencies.
Special Drawing Rights (SDR)
Reviewed By Will Kenton Updated Apr 7, 2019
What Are Special Drawing Rights (SDR)?
Special drawing rights (SDR) refer to an international type of monetary reserve currency created by the International Monetary Fund (IMF) in 1969 that operates as a supplement to the existing money reserves of member countries.
Created in response to concerns about the limitations of gold and dollars as the sole means of settling international accounts, SDRs augment international liquidity by supplementing the standard reserve currencies.
An SDR is essentially an artificial currency instrument used by the IMF, and is built from a basket of important national currencies.
The IMF uses SDRs for internal accounting purposes. SDRs are allocated by the IMF to its member countries and are backed by the full faith and credit of the member countries' governments. The makeup of the SDR is re-evaluated every five years. The current makeup on the SDR is represented by the following table:
Currency Weights Determined in the 2015 Review Fixed Number of Units of Currency
5-Year Period Starting Oct 1, 2016
U.S. Dollar 41.73 0.58252
Euro 30.93 0 .38671
Chinese Yuan 10.92 1.0174
Japanese Yen 8.33 11.900
Pound Sterling 8.09 0.085946
Understanding SDR
The SDR was formed with a vision of becoming a major element of international reserves, with gold and reserve currencies forming a minor incremental component of such reserves.
To participate in this system, a country was required to have official reserves. This consisted of central bank or government reserves of gold and globally accepted foreign currencies that could be used to buy the local currency in foreign exchange markets to maintain a stable exchange rate.
Key Takeaways
Special drawing rights, or SDR, are an artificial currency instrument created by the International Monetary Fund, which uses them for internal accounting purposes.
The value of the SDR is calculated from a weighted basket of major currencies, including the U.S. dollar, the euro, Japanese yen, Chinese yuan, and British pound.
The SDR interest rate (SDRi) provides the basis for calculating the interest rate charged to member countries when they borrow from the IMF and paid to members for their remunerated creditor positions in the IMF.
To continue reading, please go to the original article here:
Email Newsletter Technical Difficulties
Good Evening Readers -- Due to technical difficulties there will not be a 6 PM email newsletter sent out to subscribers on FRIDAY October 4th - We are very sorry and do apologize -- All of our posts can be accessed and enjoyed by just going to The Blog – Thank you for your understanding and we will resume sending on Saturday morning.
The Dinar Recaps Team
Good Evening Readers -- Due to technical difficulties there will not be a 6 PM email newsletter sent out to subscribers on FRIDAY October 4th - We are very sorry and do apologize -- All of our posts can be accessed and enjoyed by just going to The Blog – Thank you for your understanding and we will resume sending on Saturday morning.
The Dinar Recaps Team
What Is The Difference Between Rich And Wealthy?
.What Is The Difference Between Rich And Wealthy?
Personal Finance - Millionaire Mob - March 8, 2019
Difference Between Rich and Wealthy
Is there a difference between a rich person and a wealthy person?
In this article, we will differentiate between rich and wealthy.
What is the Difference between Rich and Wealthy?
Most people use the two terms rich and wealthy interchangeably. But, do they mean the same thing? There is a difference between rich and wealthy.
In this article, we will focus on some of the significant differences between rich and wealthy
So, who has more money between wealthy and rich people? Before we look at the main differences between the rich and wealthy, let’s first look at the definition of rich and definition of wealthy.
What Is The Difference Between Rich And Wealthy?
Personal Finance - Millionaire Mob - March 8, 2019
Difference Between Rich and Wealthy
Is there a difference between a rich person and a wealthy person?
In this article, we will differentiate between rich and wealthy.
What is the Difference between Rich and Wealthy?
Most people use the two terms rich and wealthy interchangeably. But, do they mean the same thing? There is a difference between rich and wealthy.
In this article, we will focus on some of the significant differences between rich and wealthy
So, who has more money between wealthy and rich people? Before we look at the main differences between the rich and wealthy, let’s first look at the definition of rich and definition of wealthy.
Definition Of Wealthy
Wealthy is a term defined as the number of days that a person can sustain their existence without having to work. The wealthy make money doing nothing and can maintain their standard of living during their life without physically working or anyone in their household physically working.
What matters to the wealthy is not how much money they make, but rather how much money they keep as well as how long that money can work for them.
Can your wealth sustain you and pay for all of your bills for the rest of your life. Can you eat, drink, and travel the world without having to worry about how you will meet all these expenses?
The wealthy do not only have lots of money, but they also don’t worry about money. They can afford all their basic as well as a luxurious lifestyle with no money worries. The wealthy generate a lot of residual income, and their money keeps growing exponentially.
Money works for them and not the other way round. They have excess to keep them going and doing what they want as long as they want and their money does not get diminished. They have infinite wealth.
There are only a few wealthy people around the world. Most of these people were born in wealthy families, and the much they do about it is to maintain their status. However, there is no definite measure of wealthy and different people have varying perceptions on the issue.
Attributes of the Wealthy
Here are some of the characteristics of the wealthy:
Money works for them and is continually invested through fractional share investing
They have accumulated enough money that will likely never run out for the rest of their life
They have created multiple passive income sources
So, let’s have a look at some interesting research findings of the lifestyle of the wealthy people according to a specific group of people.
Research findings on what people believe it means to be wealthy
Here are some thought-provoking results in the survey about what being wealthy meant for different people. While 62% of people said that being wealthy means spending time with family, 55% alleged it as having time to oneself. 49%, on the other hand, believed it means owning a home, and 41% said it means eating out or having meals delivered to you by Uber.
A 33% thought that if you’re wealthy, then you can afford the cable, subscription services like Netflix movie/TV and music streaming and 27% said it means owning the latest tech gadgets. 17% held it means having a gym membership or a personal trainer and 12% said it is means using a home cleaning service.
Almost half of the people who were surveyed believed that to achieve the definition of wealth; one must save and invest money in the right investment vehicles to reap the benefits of compound interest.
Definition of Rich
The rich can be defined as people who have a lot of money which is a characteristic similar to the wealthy. A difference between wealthy and rich is that unlike the wealthy that have a lot of money and fewer expenses, the rich have a lot of money with many financial liabilities and expenses to meet.
Unlike the wealthy, the rich have many bills to pay, and they generally worry about money. Most of the income of the rich end up in the expenses column and not much end up on the assets column. This behavior differentiates the rich vs. wealthy.
Unlike the wealthy that can exist for the rest of their life without worrying about money, the rich worry about several things related to money. They worry about their jobs and businesses as well as how to maintain and manage them to sustain their lifestyle.
The rich can afford all the essentials as well as the luxuries of life, but they must also ensure that their businesses and investments are still running well and the right systems are in place to avoid collapse.
Unlike the wealthy that have enough money at their disposal and don’t have to work to afford luxuries, the rich work and some have even gotten into debts to afford the fine things in life.
A lot of rich people have acquired their money through hard work, and only a few inherited their money. Most rich people must work or get employed to seek the money that they need to maintain their lifestyle.
To continue reading, please go to the original article here:
https://millionairemob.com/difference-between-rich-and-wealthy/
The Worst Things About Being a Millionaire
The Worst Things About Being a Millionaire
Kiplinger's Personal Finance | June 14, 2018 Updated for 2019
Who wants to be a millionaire? The more intriguing question would be, “Who doesn’t?” For most people, a million smackers conjures up images of vacations on the Riviera, Arabian racehorses and mattresses stuffed with freshly ironed $20 bills.
But being a millionaire today isn’t all it’s cracked up to be. Low interest rates and high living costs mean a million bucks in the bank doesn’t necessarily allow you to retire at 35, 45, 55 or even 65.
What’s worse, today’s million dollars comes with all the burdens of wealth: greedy relatives, rapacious lawyers and grasping investment advisers.
The Worst Things About Being a Millionaire
Kiplinger's Personal Finance | June 14, 2018 Updated for 2019
Who wants to be a millionaire? The more intriguing question would be, “Who doesn’t?” For most people, a million smackers conjures up images of vacations on the Riviera, Arabian racehorses and mattresses stuffed with freshly ironed $20 bills.
But being a millionaire today isn’t all it’s cracked up to be. Low interest rates and high living costs mean a million bucks in the bank doesn’t necessarily allow you to retire at 35, 45, 55 or even 65.
What’s worse, today’s million dollars comes with all the burdens of wealth: greedy relatives, rapacious lawyers and grasping investment advisers.
A Million Isn’t What It Used to Be
Financial advisers say a sustainable annual withdrawal from retirement savings is 4%. With a million-dollar nest egg, a 4% draw-down means annual income of $40,000. And that’s before taxes. If you stick with the 4% withdrawal rate and earn an average 8% on your money annually, you’ll be in good shape for the long run.
But can you really live on $40,000 a year? Most millionaires don’t want to. “If you are 45, 50, 55 years old and spend like a millionaire, then you are doing two things with your money that may well not work for you long term,” says Tom Davison, a financial planner in Columbus, Ohio.
“The first is not saving extra dollars now, and the second is establishing a lifestyle cost that, for most people, will be hard to cut back on later.”
That being the case, let’s say you pull $100,000 a year from your savings, you earn 8% a year, and you don’t adjust upward for inflation. Here’s how your account would fare: at the end of Year 1, you'd have $972,000 left; Year 5, $835,735; Year 10, $594,376; Year 15, $239,741; and Year 18, $0. Yup — broke in retirement.
To continue reading, please go to the original article here:
.How Anti-Fragile Are You?
.Notes From The Field By Simon Black
September 24, 2019 Bahia Beach, Puerto Rico
How Anti-Fragile Are You?
I arrived back home to Puerto Rico late last night after traveling back from our Total Access event in Las Vegas.
It was probably around 11:15 pm when I climbed into bed. And, within minutes, just as the sound of the waves outside was carrying me off to sleep, the whole house started violently shaking.
It turned out to be a magnitude 6.0 earthquake, about 20 miles off the west coast of the island.
I lived in Chile for seven years before this-- one of the world’s earthquake capitals-- so I’m no stranger to seismic activity.
Notes From The Field By Simon Black
September 24, 2019 Bahia Beach, Puerto Rico
How Anti-Fragile Are You?
I arrived back home to Puerto Rico late last night after traveling back from our Total Access event in Las Vegas.
It was probably around 11:15 pm when I climbed into bed. And, within minutes, just as the sound of the waves outside was carrying me off to sleep, the whole house started violently shaking.
It turned out to be a magnitude 6.0 earthquake, about 20 miles off the west coast of the island.
I lived in Chile for seven years before this-- one of the world’s earthquake capitals-- so I’m no stranger to seismic activity.
But earthquakes are EXTREMELY rare in Puerto Rico… as in, they almost NEVER happen. People simply do not expect them.
Hurricanes, tropical storms, etc., sure, those are common occurrences here.
And you might remember that Puerto Rico was almost wiped out from 2017’s Hurricane Maria. It devastated the island and much of the Eastern Caribbean, and two years later they still haven’t recovered.
Today there’s supposed to be some Tropical Storm coming through, which, by comparison to Hurricane Maria, is barely a bit of drizzle.
But the government here is on pins and needles, and so anxious to show that they’re ready for anything that they closed schools, many government offices, and even called up the National Guard…
I can’t help but feel bad for them. They’re so scarred from Hurricane Maria two years ago that they overreact in desperation at the first warning sign of a storm.
And then, in an instant, something completely unexpected happened: Puerto Rico was hit with a 6.0 earthquake, and the government has no idea how to react.
I need to caveat all this by saying I really love Puerto Rico. Moving here last year was a great decision. And though I’ve long praised the island’s unparalleled tax incentives, what keeps me living here is the lifestyle.
To continue reading, please go to the original article at
https://www.sovereignman.com/trends/how-anti-fragile-are-you-25620/
To your freedom & prosperity, Simon Black Founder, SovereignMan.com