Bank Secrets Revealed and Debunked

Bank Secrets Revealed and Debunked

A Bank Teller Reveals Secrets and Debunks Banking Myths

Katherine Muniz  Updated: Aug 30 2019 Editorial Disclosure

Bank secrets revealed and debunked by an unnamed bank teller at a major bank on bank practices, teller capabilit..

Bank Tellers

We all know what a visit to a bank branch will bring. Average consumers have no clue what goes on behind the glass windows of their bank's local branch.

We talked to one bank teller from a major bank and he debunked some myths, as well as shared a couple secrets of his own.

Does it really take three days for checks to clear and post to your account?

No -- It all depends on a person's credibility and the type of check it is. For instance, payroll checks usually clear right away, and so do checks deposited by customers with an ample amount of cash in their account. Sometimes a portion of the check clears right away, and the rest clears in the next few days.

The teller we spoke with said he has no knowledge of how the percentage is determined, as it is set by a system.

Debit Card Loss And Theft Are Not As Well-Protected As Credit Card Theft

True. Some banks will cover all the fraud-ability charges, such as Bank of America. However, typically the protection is less than that of a credit card, so if you're concerned, contact your bank and inquire about all the loss and theft protection coverages available to you.

The Only Bank Staff That Can Work At The Teller Window Are Tellers

False -- It all depends on the bank and their protocol. For instance, at this particular teller's bank, assistant managers have to work at the window but that doesn't mean they always do if they're feeling lax... particularly at his branch. Another example is at Chase, where bankers are cross-trained as tellers.

The Bank Is Allowed To Pull Money From Your Deposit If You Owe Overdraft Loans Or Fees.

True.

Calling A Representative Or Going In Person To Your Branch To Resolve A Problem Will Be Better Than Filling Out Forms Online

True -- Representatives are empowered to forgive fees at their disclosure, given the situation and judgment merits it.

Fees Are Always Negotiable

False -- You cannot work the system. Our source says that fee forgiveness happens to a certain extent, however, a customer with a track record of abusing their fee-waiving privileges gets blacklisted. They may waive fees the first couple of times, but after that you're on your own.

"Tellers Have A Quota Of New Accounts They Must Get Customers To Open"

False -- It all depends which bank you go to. For instance, two big banks are more stern with this policy, and tellers who fail to meet those quotas have those notes marked on their records. However, the tellers do get a small referral fee each time a customer opens an account through their recommendation.

To continue reading, please go to the original article here:

https://www.mybanktracker.com/banking/faq/bank-teller-reveals-secrets-138688

When Massachusetts Banned Christmas

When Massachusetts Banned Christmas

Christopher Klein

Ebenezer Scrooge and the Grinch had nothing on the 17th-century Puritans, who actually banned the public celebration of Christmas in the Massachusetts Bay Colony for an entire generation.

The pious Puritans who sailed from England in 1630 to found the Massachusetts Bay Colony brought with them something that might seem surprising for a group of devout Christians—contempt for Christmas.

In a reversal of modern practices, the Puritans kept their shops and schools open and churches closed on Christmas, a holiday that some disparaged as “Foolstide.”

A Puritan governor disrupting Christmas celebrations.

After the Puritans in England overthrew King Charles I in 1647, among their first items of business after chopping off the monarch’s head was to ban Christmas. Parliament decreed that December 25 should instead be a day of “fasting and humiliation” for Englishmen to account for their sins.

The Puritans of New England eventually followed the lead of those in old England, and in 1659 the General Court of the Massachusetts Bay Colony made it a criminal offense to publicly celebrate the holiday and declared that “whosoever shall be found observing any such day as Christmas or the like, either by forbearing of labor, feasting, or any other way” was subject to a 5-shilling fine.

Why did the Puritans loathe Christmas? Stephen Nissenbaum, author of “The Battle for Christmas,” says it was partly because of theology and partly because of the rowdy celebrations that marked the holiday in the 1600s.

In their strict interpretation of the Bible, the Puritans noted that there was no scriptural basis for commemorating Christmas.

“The Puritans tried to run a society in which legislation would not violate anything that the Bible said, and nowhere in the Bible is there a mention of celebrating the Nativity,” Nissenbaum says. The Puritans noted that scriptures did not mention a season, let alone a single day, that marked the birth of Jesus.

To continue reading, please go to the original article here:

https://www.history.com/news/when-massachusetts-banned-christmas

Why Christmas is on December 25th

Why Christmas is on December 25th

December 10, 2014 by Erick Erickson

One of the most popular theories and commonly taught explanations for why Christmas is on Dec. 25th is because the early church placed Christian holidays at times of Roman celebration to co-opt the local pagan festivals.

Christians placed Christmas on Dec. 25th to co-opt Saturnalia, the mid-winter festival, or possibly the Festival of the Unconquered Sun — Sol Invictus. The theory went that Christians could get the heathen to convert by co-opting their own holidays.

There is one problem — it sounds more convincing than it is. These theories did not start growing until the 12th century and only became popular once comparative religion became trendy after the 18th century.

Going back to the earliest Christian church finds evidence that Christmas, though not initially celebrated, had starting being commemorated well before the Feast of the Unconquered Sun’s creation for entirely Christian reasons.

In Egypt, less than 300 years after Christ’s death, some Christians celebrated his birth in the spring. As the Biblical Archeology Society has noted, the earliest references to Christmas come at about 200 A.D., at a time Christians were not incorporating other religious traditions into their own.

By 300 A.D., many Christians were celebrating his birth around Dec. 25th. Within 100 years, Christmas was on the calendar record. Christians looked to December because the early church was far more interested in Jesus’s death. His death and resurrection is what matters to the Gospel, and that was the date the early church focused on.

“Around 200 A.D., Tertullian of Carthage reported the calculation that the 14th of Nisan in the year Jesus died was the equivalent to March 25 in the Roman calendar,” said Andrew McGowan last year at the Biblical Archaeology Society. That would be the day of Crucifixion. The math from there is rather simple. Nine months later would be Dec. 25. Early church history held as fact that the prophets and martyrs of the church were conceived on the day they died.

So if Christ died on March 25, it was also the anniversary of his conception.

Separately, and more directly from the Bible, Luke 1 tells us Zacharias, John the Baptist’s father, was in the priestly division of Abijah. Based on a calculation of this and the division of priest in the temple in 70 A.D. when the temple fell, a number of early Church historians presumed Zacharias would have been in the temple in early October. Later historians, however, speculate it would have been June.

The Gospel of Luke tells us when Zacharias left the temple, his wife conceived. “In the sixth month the angel Gabriel was sent from God to a city of Galilee named Nazaerth, to a virgin betrothed to a man whose name was Joseph, of the house of David,” Luke 1:25-26 notes.

Six months after Zacharias left the temple would be March as Mary’s time of conception. Fast forward nine months and again we find ourselves in December.

To continue reading, please go to the original article here:

https://www.redstate.com/erick/2014/12/10/why-christmas-is-on-december-25th/

Saturnalia  History.Com Editors

Updated: Aug 21, 2018  original: Dec 5, 2017

Saturnalia, held in mid-December, is an ancient Roman pagan festival honoring the agricultural god Saturn. Saturnalia celebrations are the source of many of the traditions we now associate with Christmas.

What Is Saturnalia?

Saturnalia, the most popular holiday on the ancient Roman calendar, derived from older farming-related rituals of midwinter and the winter solstice, especially the practice of offering gifts or sacrifices to the gods during the winter sowing season.

The pagan celebration of Saturn, the Roman god of agriculture and time, began as a single day, but by the late Republic (133-31 B.C.) it had expanded to a weeklong festival beginning December 17. (On the Julian calendar, which the Romans used at the time, the winter solstice fell on December 25.)

How The Romans Celebrated Saturnalia

During Saturnalia, work and business came to a halt. Schools and courts of law closed, and the normal social patterns were suspended.

People decorated their homes with wreaths and other greenery, and shed their traditional togas in favor of colorful clothes known as synthesis. Even slaves did not have to work during Saturnalia, but were allowed to participate in the festivities; in some cases, they sat at the head of the table while their masters served them.

Instead of working, Romans spent Saturnalia gambling, singing, playing music, feasting, socializing and giving each other gifts. Wax taper candles called cerei were common gifts during Saturnalia, to signify light returning after the solstice.

On the last day of Saturnalia celebrations, known as the Sigillaria, many Romans gave their friends and loved ones small terracotta figurines known as signillaria, which may have referred back to older celebrations involving human sacrifice.

Saturnalia was by far the jolliest Roman holiday; the Roman poet Catullus famously described it as “the best of times.” So riotous were the festivities that the Roman author Pliny reportedly built a soundproof room so that he could work during the raucous celebrations.

Temple Of Saturn And Other Saturnalia Customs

Constructed in the fourth century A.D. to replace an earlier temple, the Temple of Saturn in Rome served as the ceremonial center of later Saturnalia celebrations. On the first day of the festivities, a young pig would often be publicly sacrificed at the temple, which was located in the northwest corner of the Roman Forum.

The cult statue of Saturn in the temple traditionally had woolen bonds tied around his feet, but during Saturnalia these bonds were loosened to symbolize the god’s liberation.

In many Roman households, a mock king was chosen: the Saturnalicius princeps, or “leader of Saturnalia,” sometimes also called the “Lord of Misrule.”  Usually a lowlier member of the household, this figure was responsible for making mischief during the celebrations—insulting guests, wearing crazy clothing, chasing women and girls, etc.

The idea was that he ruled over chaos, rather than the normal Roman order. The common holiday custom of hiding coins or other small objects in cakes is one of many dating back to Saturnalia, as this was a method of choosing the mock king.

Is Christmas A Pagan Holiday?

Thanks to the Roman Empire’s conquests in Britain and the rest of Europe from the second century B.C. to the fourth century A.D.—and their suppression of older seasonal rites practiced by the Celts and other groups—today’s Western cultures derive many of their traditional celebrations of midwinter from Saturnalia.

The Christian holiday of Christmas, especially, owes many of its traditions to the ancient Roman festival, including the time of year Christmas is celebrated. The Bible does not give a date for Jesus’ birth; in fact, some theologians have concluded he was probably born in spring, as suggested by references to shepherds and sheep in the Nativity story.

To continue reading, please go to the original article here:

https://www.history.com/topics/ancient-rome/saturnalia

Why is Christmas on December 25?

12 | 12 | 2019

The official purpose of Christmas is to celebrate the birth of Jesus Christ, whom the world's 2.4 billion Christians worship as the Son of God. The unofficial purpose is to spend time and exchange gifts with loved ones, preferably near a warm fireplace.

Based on the fact that Christmas (short for "Christ Mass") takes place on December 25, one might reasonably deduce that this is the date of Jesus' birth. The truth is a little more complicated

First of all, no one can say with any real certainty precisely when Jesus was actually born. (Some even think it took place in the spring!)

The timing is further complicated by the discrepancies between the Gregorian and Julian calendars, which is why Christmas isn't universally celebrated on December 25; January 6 is the preferred date for Armenian Apostolics (fun fact: Armenia was the first country to adopt Christianity as its state religion), while most Oriental and Eastern Orthodox churches observe it on January 7.

One of the most widely accepted theories involves the Winter Solstice, which in Ancient Rome took place on December 25. According to the fourth-century theologian Augustine of Hippo, Jesus chose to be born the shortest day of the year: "Hence it is that He was born on the day which is the shortest in our earthly reckoning and from which subsequent days begin to increase in length.

He, therefore, who bent low and lifted us up chose the shortest day, yet the one whence light begins to increase." This interpretation was later supported by Isaac Newton.

Another theory centers around the Annunciation, or the day that the Archangel Gabriel told Mary she would give birth to the Son of God, which is observed on March 25 — or exactly nine months before December 25.

Beyond the date, the actual year Jesus was born isn't agreed on either. There was no actual year 0, of course — remember that BC stands for "Before Christ" and AD means "anno Domini," or "in the year of our Lord" — and most scholars place his birth between the years 6 BC and 1 BC.

Whatever the case, Christmas taking place on December 25 is hardly a new phenomenon: Constantine, the first Christian Roman Emperor, decreed that it be held on that date in 336.

To continue reading, please go to the original article here:

https://www.triviagenius.com/why-is-christmas-on-december-25/

Why Is Christmas Celebrated on December 25?

Sarah Pruitt   Updated: Dec 3, 2019  Original: Dec 24, 2012

Most Christians today probably can’t imagine Christmas on any other day than December 25, but it wasn’t always that way. In fact, for the first three centuries of Christianity’s existence, Jesus Christ’s birth wasn’t celebrated at all.

The religion’s most significant holidays were Epiphany on January 6, which commemorated the arrival of the Magi after Jesus’ birth, and Easter, which celebrated Jesus’ resurrection. The first official mention of December 25 as a holiday honoring Jesus’ birthday appears in an early Roman calendar from 336 A.D.

But was Jesus really born on December 25 in the first place? Probably not. The Bible doesn’t mention his exact birthday, and the Nativity story contains conflicting clues. For instance, the presence of shepherds and their sheep suggest a spring birth.

When church officials settled on December 25 at the end of the third century, they likely wanted the date to coincide with existing pagan festivals honoring Saturn (the Roman god of agriculture) and Mithra (the Persian god of light). That way, it became easier to convince Rome’s pagan subjects to accept Christianity as the empire’s official religion

The celebration of Christmas spread throughout the Western world over the next several centuries, but many Christians continued to view Epiphany and Easter as more important.

Some, including the Puritans of colonial New England, even banned its observance because they viewed its traditions—the offering of gifts and decorating trees, for example—as linked to paganism.

In the early days of the United States, celebrating Christmas was considered a British custom and fell out of style following the American Revolution. It wasn’t until 1870 that Christmas became a federal holiday.

To continue reading, please go to the original article here:

https://www.history.com/news/why-is-christmas-celebrated-on-december-25

The True Origins Of Your Favorite Christmas Traditions

12 | 12 | 2019

It’s almost that time of year again when we travel from near and far to spend time with friends and family for the holidays. Even if you’re not a big fan of the Christmas season, you’re probably familiar with some of the more well-known traditions such as Christmas trees, yule logs, eggnog, and gift-giving.

But where did these traditions come from? Hold onto your hats because Christmas is one of many Christian holidays with an origin that’s going to surprise you.

Christmas trees

One of the most iconic symbols of the Christmas season is, of coure, the tree. Early Christians decided to “borrow” an ancient pagan holiday known as Saturnalia, and thus, they borrowed other symbols and incorporated them into Christian celebrations.

The classic Christmas tree is yet another item the Christians borrowed from pagan religions. In particular, the Romans were fond of fir trees during Saturnalia. And as Saturnalia gave way to Christmas, the fir tree continued to be used.

Christmas stockings

We don’t know about your house, but many people start their Christmas Day celebrations by opening their stockings for little gifts. This is one tradition that is firmly rooted in Christianity. There are competing origin stories for Christmas stockings — some of which are controversial.

But of them, the most popular include one that also serves as the origin story for a more secular Christmas symbol — Santa Claus. We won’t give that one away because Santa is also on this list. But the other story centers on a wealthy man and his daughters and their recent bad luck that left them poor. Naturally, the father was worried that his daughters wouldn’t be able to marry well.

As luck would have it, St. Nicholas passed through their town and tossed three big bags of gold coins down the man’s chimney — and those bags magically fit perfectly in the daughters’ stockings that were drying by the fireplace.

Santa Claus

While Santa Claus has some improbable qualities, he is based on a real man. If we go back in time to the third and fourth century, you’ll also find the origin story for a famous Catholic saint, Saint Nicholas. Incidentally, he has his own celebratory day, December 6.

But more importantly, the real Saint Nicholas was a Greek bishop who later became the Bishop of Myra (a town in Greece). The real Nicholas was nothing like the jolly plump Santa Claus that most of us imagine.

The real Saint Nicholas lived during a time when Christianity was still a bit of a fringe religion and when those who overtly practiced it could be persecuted. Because he defied the local laws against Christianity, Saint Nicholas was imprisoned until he (and other Christians) were freed by Constantine.

However, during his time as a bishop, he was known for his generosity and his defense of vulnerable groups. And that persona led to his sainthood as well as the fact that he is often considered the patron saint of nearly everyone.

Gift giving

It would seem like Christmas and gift-giving go together like peanut butter and jelly. But it turns out that of all the traditions we most closely associate with the holiday, exchanging gifts is a fairly modern invention. The next time you participate in a Secret Santa gift exchange, give Queen Victoria a shout out.

Prior to the mid-1800s, gift giving was considered a distraction from the real reason for the season — to celebrate Jesus Christ. But during Queen Victoria’s reign, she routinely gave gifts to her husband and children at Christmas. And the queen was so influential that her subjects also began to enjoy gift exchanges.

Mistletoe

What could be more romantic than stealing a smooch under a bit of mistletoe? This classic lover’s twist on Christmas has been brought to you by the Celtic Druids. Yes, again, here’s another Christmas tradition borrowed from pagan culture. The Druids valued mistletoe because it was a symbol of fertility.

No one really knows how mistletoe made the jump from a pagan to a Christmas symbol, but we do know that mistletoe was first popularized as a Christmas accent in English households during the 18th century.

To continue reading, please go to the original article here:

https://www.triviagenius.com/the-true-origins-of-your-favorite-christmas-traditions-2/

The First Use of Paper Money

The First Use of Paper Money

Post From The International Bank Note Society

By Don Cleveland IBNS LM-136

Paper Banknotes - Circulation - Skepticism - Counterfeiters - Enhanced Security

The First Use of Paper Money

The first mention of the use of paper as money is found in historic Chinese texts. Emperor Chen Tsung (998-1022) awarded rights to issue universal bills of exchange to 16 merchants during his rein. When, however, several of these merchants failed to redeem notes on presentation, the credibility of the money was undermined and the public refused to accept it.

In 1023, the Emperor rescinded the merchants’ issue rights and established a Bureau of Exchange within the government charged with issuing circulating paper notes. These are now considered the first true government-issued banknotes.

Printing plates made of brass from this period have been found by archaeologists and have been used to print recreated examples of these early banknotes. No original-issue notes of this series are known to have survived

​In 1296, Marco Polo, describing his travels in China, made a fleeting reference to paper used as money in the Chinese Empire. Europeans found the idea so preposterous and unbelievable, the very credibility of his accounts of having traveled and lived in China were questioned.

The oldest existing original banknote found to date was a fragment discovered in a cave. This banknote was issued by the Chinese Emperor Hiao Tsung sometime between 1165 and 1174. On its face, this surviving, rather sophisticated example depicted the amount or number of coins it represented, and is clearly descended from earlier issues, none of which have survived.

The First European Banknotes

The first true banknotes from Europe were issued in Sweden in 1661. Much debate accompanied the issue, with some officials and merchants predicting paper money would herald the downfall of the country’s monetary system.

To overcome such objections, the monetary authorities issued the banknotes with no fewer than 16 certifying endorsements from prominent and trustworthy officials - all signed individually by hand! Backed by the government’s guarantee to redeem the banknotes in specie, they were an immediate success, replacing the necessity to carry large, heavy, easily stolen quantities of gold or silver.

Within months, other European governments and merchants, observing the convenience, safety, and boost to commerce Sweden’s experiment gave to its economy, issued paper money of their own. Unfortunately, not all issuers were as meticulous as Sweden when it came to backing their currency with specie.

Realizing not all the banknotes circulated would be redeemed, governments began issuing banknotes exceeding the value of the gold and silver in their treasuries. Further, whenever more money was needed, princes, banks and other issuers of money found it easy to print up another batch - which is exactly what they did

Most early printed money soon devalued, sometimes to the point of becoming worthless. (A lesson some governments today have yet to learn.)  The concept of paper money being new, most countries of the time lacked laws governing who could print money.

Counterfeiting laws making it illegal to copy existing coins were updated to cover paper money, but few countries had prohibitions against anyone issuing their own currency.

Soon states, principalities, cities, banks, guilds, institutions, and even private individuals - just about anyone with access to a printing press – started churning out banknotes. Indeed, the only hindrance to such issues was the public’s readiness to accept any given banknote.

Under such circumstances, the face value of many banknotes became almost meaningless. A banknote’s value was determined by the reputation of the issuer and the amount of specie backing it. Some notes were not accepted at all, rendering them worthless.

Others were accepted only at a discount from face value - which at times could be ten percent or lower. A rare few banknotes actually circulated at more than face value, especially if the issuers specified they would honour the banknote’s exchange for specific amounts of gold or silver - metals which themselves often fluctuated in value.

To continue reading, please go to the original article here:

https://www.theibns.org/joomla/index.php?option=com_content&view=article&id=251&Itemid=129

TOP 10 Weakest World Currencies in 2019

TOP 10 Weakest World Currencies in 2019

Updated Dec 12 2019

Most people know about the strongest, most stable and powerful world currencies, for example British Pound Sterling, Swiss Franc (Swissie), US Dollar, Euro and others .

These Currencies are the most stable – as well as the countries issuing them are.

However, what about the least valued world currencies? Who knows their names and what countries they are issued in…?

While making this list, we found it definitely hard to put in proper order the least valuable currencies, due to the fact that the economic situation is changing rapidly in all these countries.

However, it is possible to identify certain devalued national currencies at the moment. Thus, let’s look at 10 the cheapest foreign currencies against the US Dollar.

The exchange rates of the least valued currencies were updated on 12 DEC 2019.

#1 – Iranian Rial (~114,000 IRR/USD)

Currency code – IRR.

Iranian rial rates:

1 USD = ~114,000 IRR (US dollar to Iranian rial – black market rate).

1 USD = 42,090.05 IRR (US dollar to Iranian rial – official rate)

1 EUR = 46,793.17 IRR (Euro to Iranian rial).

The cheapest currency in the world is Iranian rial.

To simplify the calculations, citizens often use the term Toman, which means 10 rials. If you’re asked to pay 200 tomans, it means that your bill is 2,000 Rials.

The Iran-Iraq War, threats against Israel as well as the possibility of nuclear missiles threatening the world from the Iranian government caused world superpowers to force economic and political sanctions.

These measures included restricting Iran’s access to the world commodity market and led to significant downturn in their economy. Being an oil exporter, Iran could no longer export its oil, which created a critical deficit in their national budget.

All this caused Iranian Rial to become the «worst» world currency. In 2016, USA and EU lifted some of the sanctions, improving the economic situation and stabilizing the local money, but in 2018, the USA re-imposed and sharpened their sanctions.

#2 – Venezuelan Sovereign Bolívar (44,498.65 VES/USD)

Currency code – VES (Old VEF).

Venezuelan Sovereign Bolívar rates:

1 USD = 46,304.26 VES (US dollar to Venezuelan Sovereign Bolívar).

1 EUR = 51,471.81 VES (Euro to Venezuelan Sovereign Bolívar).

Venezuelan Bolívar – the most inflated currency in the world.

The denomination was carried out on August 20, 2018. The main reason for the denomination was the hyperinflation of around 830,000% which kept increasing by day despite this denomination.

Before denomination 1 USD was worth ~248,487 VEF.

Old banknotes were replaced with new ones with at a rate of 1 new VES to 100,000 old VEF.

A cryptocurrency «Petro» was created by the government to «fight the US dollar» but this only accelerated the hyperinflation rate because the government itself determines the dollar exchange rate, at their whim.

#3 – Vietnamese Dong (23,187.71 VND/USD)

Currency code – VND

Vietnamese Dong rates:

1 USD = 23,187.71 VND (US dollar to Vietnamese Dong).

1 EUR = 25,760.38 VND (Euro to Vietnamese Dong).

The Vietnamese Dong is the currency with the third lowest value in the world.

Vietnam is still on its hard path from a centralized economy to a market one, and consequently this country’s currency is very devalued today. At the moment, the Dong takes second place in our «poorest currencies» list.

However, experts insist that the Vietnamese government is going the right way and may soon catch up with its closer Asian neighbors.

#4 – Indonesian Rupiah (13,995.73 IDR/USD)

Currency code – IDR.

Indonesian Rupiah rates:

1 USD = 13,995.73 IDR (US dollar to Indonesian Rupiah).

1 EUR = 15,557.05 IDR (Euro to Indonesian Rupiah).

Due to the low value of old-style banknotes, by presidential decree of September 5, 2016, 7 new banknotes were issued in denominations from 1 thousand to 100 thousand rupiahs.

Indonesia is an economically stable and quite developed country in Southeast Asia. However, its money has a very low exchange rate. The country’s regulatory authorities are taking all measures to strengthen the national currency, but all their efforts led only to insignificant changes.

#5 – Sierra Leonean Leone (9,711.13 SLL/USD)

Currency code – SLL.

Sierra Leonean Leone rates:

1 USD = 9,711.13 SLL (US dollar to Sierra Leonean Leone).

1 EUR = 10,799.22 SLL (Euro to Sierra Leonean Leone)

Sierra Leone is a very poor African country, which handled out many serious tests which caused the local money to devalue. Recently, a war took place and the deadly Ebola virus is recurrent.

#6 – Uzbek Sum (9,536.16 UZS/USD)

Currency code – UZS.

Uzbek Sum rates:

1 USD = 9,536.16 UZS (US dollar to Uzbek Sum)

1 EUR = 10,604.96 UZS (Euro to Uzbek Sum).

The modern Sum was put into circulation with a ratio of 1 Sum equal to 1000 Sum-coupons from July 1, 1994 by Decree of the President of Uzbekistan.

As a result of the liberalization of their monetary policy from September 5, 2017, the exchange rate of the Sum against the US dollar is set at 1 USD = 8,100 UZS, with an estimated range of 8,000-8,150 UZS for 1 US dollar.

#7 – Guinean Franc (9,515.39 GNF/USD)

Currency code – GNF.

Guinean Franc rates:

1 USD = 9,515.39 GNF (US dollar to Guinean Franc)

1 EUR = 10,552.02 GNF (Euro to Guinean Franc).

A high inflation rate, progressing poverty and prospering gangsters devaulue the currency of Guinea – the African country with one of the most inflated currencies.

Considering its natural gifts like gold, diamonds and aluminum, this country’s currency should be one of the most valuable.

To continue reading, please go to the original article here:

https://fxssi.com/top-10-of-the-weakest-world-currencies-in-current-year

Alice Walton Quotes About Success and Work

Alice Walton Quotes About Success and Work

By Emmy Wallin

Alice Walton is an heiress to the fortune of Walmart Inc. As of 2019, Walton had a net worth of $42.5 billion, making her the 18th richest person in the world.

Check out our list of wise Alice Walton quotes that all business people can read and learn from.

32 Alice Walton Quotes

1. ” Expenses should never exceed one percent of our purchases.” – Alice Walton

2 .”To succeed in this world, you have to change all the time.” – Alice Walton

3 .”High expectations are the key to everything.” – Alice Walton

4 .”Do it. Try it. Fix it.” – Alice Walton

5 .”Most everything I’ve done I’ve copied from somebody else.” – Alice Walton

6. “I was asked what I thought about the recession. I thought about it and decided not to take part.” – Alice Walton

7. ”When all else fails, put on a costume and sing a silly song.” – Alice Walton

8 .”Take the best out of everything and adapt it to your needs.” – Alice Walton

9. ”Control your expenses better than your competition. This is where you can always find a competitive advantage.” – Alice   Walton

10 ″Leaders must always put their people before themselves. If you do that, your business will take care of itself.” – Alice Walton

11 . ”Commit to your business. Believe in it more than anybody else.” – Alice Walton

12. “Individuals don’t win in business, teams do.” – Alice Walton

13 .” Appreciate everything your associates do for the business.” – Alice Walton

14. ”If you want a successful business, your people must feel that you are working for them – not that they are working for you.” – Alice Walton

15 .”You can make a lot of mistakes and still recover if you run an efficient operation. Or you can be brilliant and still go out of business if you’re too inefficient.” – Alice Walton

16 .”There’s a lot more business out there in small-town America than I ever dreamed of.” – Alice Walton

17 .”I not only knew I wanted to go into retailing, but I also knew I wanted to go into business for myself.” – Alice Walton

18 .”Lose your smile and lose your customers.” – Alice Walton

19 .”If you don’t listen to your customers, someone else will.” – Alice Walton

20 .”There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” – Alice Walton

21 .”If one of our customers comes into the store without a smile, I’ll give them one of mine.” – Alice Walton

22 .”Exceed your customer’s expectations. If you do, they’ll come back over and over. Give them what they want – and a little more.” – Alice Walton

23 .”The way management treats their associates is exactly how the associates will then treat the customers.” – Alice Walton

24 .”The key to success is to get out into the store and listen to what the associates have to say. It’s terribly important for everyone to get involved. Our best ideas come from clerks and stockboys.” – Alice Walton

25. ”I had confidence that as long as we did our work well and were good to our customers, there would be no limit to us.” – Alice Walton

26 .”The secret of successful retailing is to give your customers what they want.” – Alice Walton

27 .”Job security lasts only as long as the customer is satisfied. Nobody owes anybody else living.” – Alice Walton

28 .”Focus on something the customer wants, and then deliver it.” – Alice Walton

29 .”Each Wal-Mart store should reflect the values of its customers and support the vision they hold for their community.

There is only one boss. The customer…” – Alice Walton

To continue reading, please go to the original article here:

https://wealthygorilla.com/alice-walton-quotes/

The 10 Strongest Currencies in the World

The 10 Strongest Currencies in the World  

 By Matt McIntyre

We all like to get the most out of our money, even if it’s just a few extra cents on the dollar.

With that said, we’ve put together a list of some of the worlds strongest currencies, so you can think about getting a little extra buying power when travelling abroad.

If you think GBP or USD is the strongest currency in the world, then think again!

Here’s a list we put together of the 10 strongest currencies in the world:

The 10 Strongest Currencies In The World

The list of currencies and figures mentioned below have been compiled from various sources around the web, such as FXSSI, Currency Kart & Highest Currency.

These are the 10 strongest currencies in the world:

 10. US Dollar

Strongest Currencies - US Dollar

Kicking off our list of the strongest currencies in the world is the US dollar.

It’s the currency of the United States of America and is the most traded and used currency in the world.

It also holds the title of the worlds primary reserve currency and is held by both central and commercial banks all over the world.

Depending on your currency, it’s not the best time to convert some of your cash into dollars, however, it’s well worth keeping an eye on how it performs, as it doesn’t look like it’s going anywhere soon!

9. Swiss Franc – (1 CHF = 1.01 USD)

Strongest Currencies - Swiss Franc

Next on the list, we have the Swiss Franc, which is the official currency of Switzerland and Liechtenstein!

At roughly 1.01 USD for each CHF, it’s currently not the best conversion rate to USD on the list, however, the Swiss Franc still comes in at number nine for good reason.

Switzerland is one of the wealthiest countries in the world and has a solid track record in banking and finance.

Having some of the worlds strictest monetary policies and lowest debt levels has drawn many an investor to view the Swiss Franc as a “Safe Bet”, choosing to store some of their wealth in the official currency of Switzerland.

Also known for being the sixth most traded currency in the world, the Swiss Franc is expected to retain its value in the foreseeable future!

8. Euro (1 Euro = 1.10 USD)

Strongest Currencies - Euro

The EURO is the primary currency of the European Union and was adopted on January 1, 1999.

It holds the title as the second world reserve currency and is the official currency of 19 of the 28 member countries in the EU.

The currency first began virtually, in the form of traveller cheques and electronic bank transfers, and physical notes and coins appeared a few years later in 2002.

The introduction of the EURO was meant to increase the economic interdependency of trade between all EU member that choose to adopt it.

One EURO is approximately equivalent to 1.10 USD at the time of writing.  

7. Cayman Islands Dollar – (1 KYD = 1.20 USD)

Strongest Currencies - Cayman Island Dollar

The next strongest currency in the world is the Cayman Islands Dollar.

The Cayman Islands are a British Territory located in the Caribbean and are well known for being one of the worlds best tax havens.

They provide banking licenses for a number of the worlds biggest banks, hedge funds and insurance companies.

The KYD was introduced in 1972 as a replacement for Jamaican Dollars and has gone on to become one of the worlds strongest currencies.

6. Gibraltar Pound – (1 GIP= 1.23 USD)

Strongest Currencies - Gibraltar Pound

The Gibraltar pound is the official currency of Gibraltar.

As well as being used on its own, it’s also able to be exchanged with the British Pound at par value and, aesthetically, looks very similar.

All notes and coins of the Gibraltar Pound are printed by the Government of Gibraltar.

The most common Gibraltar exchange rate is the GIP to Euro rate.

5. Pound Stirling – (1 GBP = 1.26 USD)

Strongest Currencies - Pound Sterling

Coming in at number five on our list of the strongest currencies in the world is the Pound Stirling, the official currency of the United Kingdom.

The Pound Stirling is often perceived as being the strongest currency in the world, however, that’s not the case, as it falls short to four Arabian currencies.

With the United Kingdom deciding to leave the EU, this has had a negative effect on the Pounds value.

It’s one of the most widely used currencies and the oldest independent currency in the world, being first used in the United Kingdom in 1489.

At the moment, 1 GBP can be exchanged for 1.26 USD.  

4. Jordanian Dinar – (1 JOD = 1.41 USD)

Strongest Currencies - Jordanian Dinar

The Jordanian Dinar, JOD, is the official currency of Jordan, an Arabic nation on the bank of the river Jordan.

Introduced in 1949, replacing the Palestinian pound, the Jordanian Dinar has been pegged by the United States Dollar for the past 2o years.

This has helped it to become one of the strongest currencies in the world.

However, despite its status, the Jordanian Dinar is still only used in Jordon and nowhere else in the world.

One JOD is currently valued at 1.41 USD. 

3. Omani Rial – (1 OMR = 2.60 USD)

Strongest Currencies - Omani Rial

The Omani Rial is the third strongest currency on our list.

This Arabian currency was first introduced in 1973 and has seen a significant rise in value due to the success of the countries oil supply and being pegged to the U.S Dollar.

It’s the official currency of the Sultanate of Oman and is the third-highest status currency in the world.

The purchasing power of this currency is so high, that the government has to introduce 1/4 and 1/2 Rial banknotes.

As of 2019, 1 OMR is equivalent to 2.60 USD.  

To continue reading, please go to the original article here:

https://wealthygorilla.com/strongest-currencies-world/

​What is Financial Literacy?

​What is Financial Literacy?

Posted in Dinar Recaps Archives on 7/27/2019

What is Financial Literacy?
By JJ

Do you feel like you are financially literate?

Do you know what financial literacy is?

If not, that’s okay.

The goal of this post is to help you to understand what financial literacy is and why you should care about it.

Let’s break it down.

Let’s start with the word literacy. When someone is ‘literate’ it means they have the knowledge and skills that are necessary to read and write.

When someone is ‘financially literate’ it means they have the knowledge and skills that are necessary to make well informed decisions about their personal finances.

A Definition Of Financial Literacy

The Organization for Economic Co-operation and Development (OECD) and it’s International Network on Financial Education (INFE) define financial literacy as:

“A combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound financial decisions and ultimately achieve individual financial wellbeing.”

People who are financially literate are able to effectively do things such as:
Make a budget
Save money (for a car, house, retirement etc.)
Pay off (or avoid) student loans
Use a credit card
Achieve financial stability
Etc….

People who lack financial literacy often find themselves in the following situations:
Unable to make a budget
Unable to save money
Unable to pay off their student loans
Drowning in credit card debt
Living pay check to pay check
Etc….

You get the picture.

To continue reading, please go to the original article here:

http://thefinancialgraduate.com/what-is-financial-literacy/

.What Does Wealth Mean To You?

What Does Wealth Mean To You?

Posted on Dinar Recaps Archives on 8/4/2019

What Does Wealth Mean To You?Post From Money Saved Is Money Earned

As a member of the personal finance blogger community, I’ve been privy to a multitude of differing opinions about a myriad of finance topics.

While most agree with a few broad topics (financial independence is good, for example) you’ll find that there’s a great deal of variance even among those who are financially savvy.

Go beyond personal finance communities and the variance grows even more.

Why is there such a difference?

What Does Wealth Mean To You?

When it comes down to it, I think a lot of this variance is simply a product of the differences in how people value wealth and success.

Although wealth and success are not traditional synonyms, in this case I think they should be because how you define success is also tied to what you consider wealth.

After all, one definition of wealth is an abundance of a resource. That resource could be many different things depending on what you value and what you consider successful.

Let’s delve more into what wealth means to you, why it matters, and how you can use your definitions of wealth and success to live a more fulfilled life.

What Do You Value?

How do you value wealth and success?

The reason for the variance in opinions and decisions in regard to personal finance is because everyone is different when it comes to what they value.

Yes, lack of financial education can lead you down some dark paths and you should try to avoid the debt trap while in pursuit of what you value, but ultimately a large part of our decisions will be driven by what we value.

So, what is it that you value? How do you measure success? What makes you wealthy?

There are a plethora of things you could mention, but most can be summed up in this list:

Income/moneySavings/investmentsTimeFamily/friendsWorkTitlesRecognitionThings/possessionsHealthExperiences

This list is by no means exhaustive or exclusive, and there will likely be quite a bit of overlap between some of these categories.

No matter which of the above items is most important to you, what you value and how you define wealth and success is largely dependent on your background and experiences.

Ask someone if being a millionaire would make them successful and many (perhaps most) would agree. However, ask someone from a different background if being a millionaire would make them successful and they might claim you need a lot more.

As with anything, it’s the differences in background and experience that shape your attitude and understanding of money, wealth, and success.

This is why everyone is a little different when it comes to personal finance and what matters to them. ​

Why Does It Matter?

You may be thinking that the idea of people defining wealth and success differently is an obvious concept.

So why does this matter? Why do you need to understand what wealth and success mean to you?

It matters because your happiness will ultimately be tied to your definition of success and wealth, regardless of what others think or how they behave.

And it isn’t always easy to determine what means the most to you.

Many people go through life with very little insight into their behavior and the motives behind it. They are unable, or unwilling, to take a look in the mirror and to understand why they act the way they do.

​Aside from knowing what you value and why, understanding your behavior and the factors that shape it are really the only way to truly change that behavior if so desired.

Essentially, what we’re talking about is a concept called metacognition, or thinking about your thinking.

To continue reading, please go to the original article here:

https://www.moneysavedmoneyearned.com/what-does-wealth-mean-to-you/

Take My Cash, You Discriminatory Corporate Buffoons

Posted in Dinar Recaps Archives 8/2/2019

Take My Cash, You Discriminatory Corporate Buffoons
By Ashwin Rodrigues Jul 31 2019,

Posted in Dinar Recaps Archives 8/2/2019

'We don't take cash' is another way to say 'No broke people allowed.'

Disdain for poor people is often packaged as an innocent design choice. There is, for instance, an entire genre of architecture dedicated to subtly preventing people from sleeping or lying down.

But cashless businesses, which retailers claim improve store operations, and which seem to keep popping up in the bougiest corners of the cities that have not banned them, are an especially offensive and insidious way to keep lower-wage people out of coffee shops and salad spots.

Cash bans turn regular retailers into semi-private spaces, as some consumers, such as those who are “unbanked” (without a bank account) and “underbanked” (those who have a bank account but rely on alternative, often predatory financial products like check cashing) cannot afford the cost of admission.

​An estimated 25 percent of U.S. households are unbanked or underbanked.

“Moving to a cashless society essentially prevents lower-wage workers and those without credit from accessing certain products and services,” said Alexandrea Ravenelle, assistant professor of sociology at the University of North Carolina, whose work focuses on the sharing economy.

“It creates a two-tiered society of those who can spend freely and those who are essentially discriminated against on the basis of credit access.”

People use cash as a way to budget, and avoid fees for overdrafts or low balances, Ravenelle added. “If they do have access to prepaid debit cards, those cards often come with numerous fees.

Research also shows that people tend to spend more when they're using credit cards—which is especially problematic if someone has a tight budget or limited funds. It's very easy to go over budget when using plastic,” she said. Just look at all the people who refer to Venmo as “not real money.”

Cashlessness is not a new phenomenon. Visa, in an early-2000’s campaign for their Visa Check Card, attempted to smear it as a cumbersome payment instrument. Ads show busy theater-goers and convenience store customers moving and swiping their cards in fast-paced synchrony until one customer produces cash from his wallet, bringing the symphony to a screeching halt.

Visa went even further in 2017, offering $10,000 to businesses willing to go cashless, according to a Bloomberg report.

To continue reading, please go to the original article here:

https://www.vice.com/en_us/article/kzm4yv/cashless-businesses-discrimination

45 Carlos Slim Helu Quotes About Wealth & Success

45 Carlos Slim Helu Quotes About Wealth & Success

By Dan Western

Carlos Slim Helu is a Mexican business magnate, investor, and philanthropist;

He was also once the richest man in the world, according to Forbes, and now remains on the list of the top 10 billionaires worldwide.

Carlos Slim’s conglomerates include real estate, retail, hospitality, education, health care, industrial manufacturing, energy, transportation, media, entertainment, high-technology, sports, and financial services.

We’ve put together this collection of the greatest Carlos Slim Quotes:

45 Carlos Slim Helu Quotes

1. “All times are good times for those who know how to work and have the tools to do so.” – Carlos Slim Helu

2. “I’ve always said that the better off you are, the more responsibility you have for helping others. Just as I think it’s important to run companies well, with a close eye to the bottom line, I think you have to use your entrepreneurial experience to make corporate philanthropy effective.” – Carlos Slim Helu

3. “Staying occupied displaces preoccupation and problems, and when we face our problems, they disappear.” – Carlos Slim Helu

4. “The truth is, you leave this world with nothing. What you are is a temporary administrator, and you must administer well… the wealth in your care, and generate more. The surplus can be used to do many things for people.” – Carlos Slim Helu

5. “Competition makes you better, always, always makes you better, even if the competitor wins.” – Carlos Slim Helu

6. “It’s important to give a better country to your children, but it is more important to give better children to your country.” – Carlos Slim Helu

7. “Inertia is in our minds always.” – Carlos Slim Helu

8. “The only way you finish with poverty is with jobs.” – Carlos Slim Helu

9. “The key is the Internet. The United States is by far the most advanced country in this new digital culture, so we have to be there. The Internet is the heart of this new civilization, and telecommunications are the nervous system, or circulatory system.” – Carlos Slim Helu

10. “With three work days a week, we would have more time to relax; for quality of life.” – Carlos Slim Helu

11. “Firm and patient optimism always yields its rewards.” – Carlos Slim Helu

12. “Well, when I was very young, maybe 12 years, I began to make investments.” – Carlos Slim Helu

13. “Money is not a goal. The goal is to make companies grow, develop, be competitive, be in different areas, be efficient to have a great human team inside the company.” – Carlos Slim Helu

14. “Anyone who is not investing now is missing a tremendous opportunity.” – Carlos Slim Helu

15. “When you live for others’ opinions, you are dead. I don’t want to live thinking about how I’ll be remembered.” – Carlos Slim Helu

16. “If you are in business, you are not enjoying. You are working.” – Carlos Slim Helu

17. “In this new wave of technology, you can’t do it all yourself, you have to form alliances.” – Carlos Slim Helu

18. “It’s very important for leaders in business to work to create human capital, a team that has the same sense of purpose and alignment.” – Carlos Slim Helu

19. “When we decide to do something, we do it quickly.” – Carlos Slim Helu

20. “Most people try to make a better world for our children when what they should be doing is making better children for our world.” – Carlos Slim Helu

21. “Work well done is not only a responsibility to yourselves and society; it is also an emotional need.” – Carlos Slim Helu

22. “Choose the right employees and then set them loose.” – Carlos Slim Helu

23. “In business, you invest when things are not in good shape. When you invest at these times, you take a better position than your competitors. When there is a recession and your competition does not invest, they are giving you the advantage.” – Carlos Slim Helu

24. “All businesses make mistakes. The trick is to avoid large ones.” – Carlos Slim Helu

25. “People need to feel very good about their achievements. They get pride from what they are doing.” – Carlos Slim Helu

26. “One of the big errors people are making right now is thinking that old-style businesses will be obsolete, when actually they will be an important part of this new civilization. Some retail groups are introducing e-commerce and think that the bricks are no longer useful. But they will continue to be important.” – Carlos Slim Helu

27. “Focus on essentials and try not to get distracted and bogged down by things that don’t add value to the bottom line.” – Carlos Slim Helu

28. “You cannot have people in your organization who are pessimists. They take you to mediocrity.” – Carlos Slim Helu

29. “Courage taught me no matter how bad a crisis gets… any sound investment will eventually pay off.” – Carlos Slim Helu

30. “When we face our problems, they disappear. So learn from failure and let success be the silent incentive.” – Carlos Slim Helu

31. “I learned from my father that you continue to invest and reinvest in your business – including during crises.” – Carlos Slim Helu

32. “You cannot live without doing something.” – Carlos Slim Helu

33. “When you are convinced what to do and what you need to do, it’s not hard to do that.” – Carlos Slim Helu

34. “Think of an athlete. He may be very good in his own house, but not as good as his neighbors. You have to go beyond your home. You have to go worldwide.” – Carlos Slim Helu

35. “Anything that has privileges have responsibility and all people that is clear about their responsibility has compromise.” – Carlos Slim Helu

36. “With good perspective of history we can have a better understanding of the past and present, and thus a clear vision of the future.” – Carlos Slim Helu

37. “Live the present intensely and fully, do not let the past be a burden, and let the future be an incentive. Each person forges his or her own destiny.” – Carlos Slim Helu

38. “When there is a crisis, that’s when some are interested in getting out and that’s when we are interested in getting in.” – Carlos Slim Helu

To continue reading, please go to the original article here:

https://wealthygorilla.com/carlos-slim-helu-quotes/#ixzz5NH9zLM16