Difference between revisions of "User:RahalMccall69"

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(The men who feel threatened by women's laughter)
(WWI 100th Anniversary- UK Taxpayers Still Paying 拢2bn War Loans to Secret Bankers)
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As part of the 60 per cent of the world s population that calls itself Jewish, Christian, or Muslim, most Australians enjoy - or endure - a cultural history that stretches back to the biblical Abraham. Even non-believers raised in these cultures cannot escape the fact that they have been shaped by Abrahamic values and ideas. One particular notion, sometimes called the seed and the soil , speaks to rules about honour and chastity. Seed-and-soil says the father is the sole generating parent; the <a href=http://www.saclouisvuittonhomme.com>Sac Louis Vuitton Neverfull</a> mother is not an equal partner in procreation but rather acts as nurturing medium, like soil, for the man s seed-child. In other words, men give life; women merely give birth.  
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It's a century since the outbreak of the First World War but British taxpayers are still paying for their country's part in it -- and a handful of聽聽is cashing in on hundreds of millions of pounds.
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It is easy to forget that not until the 20th century was the mother s equal genetic contribution to the child understood, and even then only among the educated classes. Many people across the Middle East and elsewhere still believe in the idea of male monogenesis. The ancient Hebrews, as we know, were very taken by the notion. According to Genesis, God creates the first man, Adam, and entrusts him with the divine life-spark, which is carried in the male seed down the patriline from father to son in perpetuity. In this way, God holds Adam (and his male descendants) responsible for the establishment, maintenance, and purity of the patriline of God s chosen people. This is a big responsibility. What about Eve? Eve, as you probably know, messes it all up. After being created from one of Adam s ribs - thus forever bent - Eve causes humankind s Fall from grace. All the sorrows and suffering of humankind since creation are her fault. How does she manage this? By falling for Satan s seductions. In the 1980s, Turkish Muslim villagers interviewed about why women must be covered said, Women are as <a href=http://www.saclouisvuittonhomme.com>Sac Louis Vuitton Palermo</a> easily seduced as Eve was by Satan.
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Every year 拢136 million is shelled out in聽coupon聽聽to holders of the government debt 鈥?War聽Loans聽鈥?used to聽聽the role of troops from the British Empire in WWI.
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Advertisement
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And the owners of 99% of the 拢1.94bn (鈧?.4bn, $3.26bn) WWI debt still around are a secret group of聽聽聽institutions.
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Women s chastity boils down to the protection of God s seed. As the Turkish villagers explained, If you plant wheat, you get wheat. If you plant barley, you get barley. It is the seed that determines the kind of plant, while the field nourishes it. The man gives the seed, and the woman is like the field. Just as the man fences his fields, he must enclose and cover the female soil in order to ensure the seed-child is his own.  
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The UK government's Debt Management Office (DMO) told聽IBTimes UK聽that there are <a href=http://www.buycelinebags.com>Celine Bags Outlet</a> over 120,000 War聽Loan聽holdings in existence yielding their 3.5% bi-annual聽coupon聽payments.
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And one of the most disturbing things about women is that, just as plant seed can sprout long after being sown, so foreign seed from a previous relationship may sprout into a pregnancy at any time. Such foreign seed contaminates the field permanently; the woman is permanently defiled. The only protection against such contamination is the woman s premarital virginity and absolute marital fidelity.
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Over 100,000 are worth less than 拢1,000 in nominal value and held by ordinary members of the public.
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  But surely, you might be protesting, surely today s Aussies have no truck with such ideas and why should it matter what other cultures think? I m arguing that it does matter. Millions of people across the globe, including some in Australia s diasporic communities, believe that women who flout chastity rules must be killed because they are endangering the purity of God s patriline.  
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"But this large number of holders accounted for only around 1% of the total nominal in issue. So, most of the nominal amount in issue is held by a relatively few聽financial聽institutions," said a DMO spokesman.
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And is the idea so completely foreign? In 1950s Australia, for example, I grew up accepting that women were inferior to men. No one ever said it. Like human blotting paper, I simply soaked up my culture. I knew, with absolute and unconscious certainty, that any woman who hadn t made the house spotless, washed and ironed every drawer-escapee, cooked a three-course breakfast and packed lunches for her family, prepared the evening s roast and baked a cake and, finally, donned the mandatory lippy , hat, and gloves for appearing in public, even on her own front porch ... yes, any woman who hadn t done all this and more by 8am ... was a slut. Some women rose at four simply to forestall attracting that scarlet letter.
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The DMO declined to reveal the names of the institutions with the five largest holdings of the 3.5% War聽Loan聽following a Freedom of Information request, citing various exemptions under the law.
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The prostitute laughs. The unchaste woman laughs. Why does it matter? Does it concern certain men in powerful positions that God s patriline is not the only <a href=http://www.saclouisvuittonhomme.com>Sac Louis Vuitton Pallas</a> thing they are protecting, but also their own dignity? Perhaps they are not amused by the idea of women laughing at their outmoded and, dare one say, funny ideas.  
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But it did say that the top five holders are nominee companies that own 47.6%, or 拢923m, of the amount outstanding.
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Andee Jones is psychologist, author and retired academic. Her latest book is The Gender Vendors: Sex and Lies from Abraham to Freud.&nbsp;
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War聽Loans
 +
Between 1914 and 1918, the British public were asked to聽fund聽the country's war efforts with their savings.
 +
<br>
 +
A UK War聽Loan聽poster from 1915Getty
 +
They bought up bonds by the millions, called War聽Loans, as the government went cap in hand to the people to聽fund聽the hugely expensive cost of battle. Arms, ammunition, pay for soldiers 鈥?the rhetoric of war is cheap, but the reality of it is not.
 +
The first two lots of War聽Loanswere issued in 1914 and 1916 and matured in the following decade.
 +
Then came the third push in 1917. These bonds paid out twice a year on聽coupons聽worth 5% of the loan's total value. Around 3,000,000 Britons invested.
 +
The bonds were supposed to be redeemed by 1947, having given Britons three decades of half-decent returns in exchange for theirfinancial support聽in the war.
 +
But in 1932, concerned about the cost of servicing its War聽Loan聽debt and unable to redeem it all because of the economic depression, the then chancellor Neville Chamberlain changed the terms.
 +
He redeemed the聽loans聽of all those holders who wanted to cash in, even <a href=http://www.buycelinebags.com>Celine Outlet Store</a> giving a聽financial聽bonus to those who acted early.
 +
And for those who wanted to carry on, he cut the聽coupon聽payment to 3.5% and converted them to a perpetual聽, to be redeemed at some point by a government in the future.
 +
That is why the government is still paying out millions of pounds every year to people and institutions still in possession of these century-old bonds, because it has left them untouched.
 +
Inflation
 +
The problem for holders of War聽Loans聽is that their nominal value stays the same. So with every year of inflation, the less valuable the bonds become.
 +
Ordinarily, bonds are relatively short term. So as long as the聽couponpayments beat inflation, and the nominal amount is redeemed after a few years, the investment is sound.
 +
Over a century, however, inflation has destroyed much of the War Loan's original value.
 +
As it stands, War聽Loans聽are being traded at around 85p each 鈥?well under their nominal 拢1 value.
 +
Refinancing?
 +
Now seems like the best opportunity for the government to聽refinancethis war debt. Gilt yields are near to record lows.
 +
This is in part thanks to the Bank of England's massive quantitative easing programme, which saw it buy up 拢375bn worth of UK sovereign debt from the markets.
 +
And investors have flocked to reliable UK gilts, a safe haven in the markets, to protect their money from the global聽financial聽and economic turmoil around them.
 +
Britain's government can sell 20-year gilts at a rate of 3.34%, at the time of writing. <a href=http://www.buycelinebags.com>Celine UK</a> On 30-year gilts, it's 3.45%.
 +
So why not raise the 拢1.94bn needed to redeem War聽Loans聽and pay a lower rate on the debt 鈥?cutting the聽coupon聽cost for taxpayers 鈥?until the bonds come to their natural end years down the line?
 +
The UK Treasury told聽IBTimes UK聽it has no plans to聽refinance聽WarLoans, though it keeps them under review.
 +
"Any such decision to redeem undated gilts would be taken in accordance with the government's debt management objective, which is to minimise over the long term the costs of meeting the government's聽financing聽needs, subject to risk," a spokesman for the UK Treasury said.
 +
"Presently, the government's聽stock聽of undated gilts offers relatively low-cost long-term聽financing聽with no聽refinancing聽risk to the taxpayer.
 +
"Consequently, HM Treasury would need to make a long-term value-for-money judgment that the yields at which it could聽refinance聽the War聽Loan聽would be likely to remain below the聽coupon聽rates on these undated gilts for a sustained period of time."

Revision as of 16:43, 14 August 2014

@@@ It's a century since the outbreak of the First World War but British taxpayers are still paying for their country's part in it -- and a handful of聽聽is cashing in on hundreds of millions of pounds. Every year 拢136 million is shelled out in聽coupon聽聽to holders of the government debt 鈥?War聽Loans聽鈥?used to聽聽the role of troops from the British Empire in WWI. And the owners of 99% of the 拢1.94bn (鈧?.4bn, $3.26bn) WWI debt still around are a secret group of聽聽聽institutions. The UK government's Debt Management Office (DMO) told聽IBTimes UK聽that there are <a href=http://www.buycelinebags.com>Celine Bags Outlet</a> over 120,000 War聽Loan聽holdings in existence yielding their 3.5% bi-annual聽coupon聽payments. Over 100,000 are worth less than 拢1,000 in nominal value and held by ordinary members of the public. "But this large number of holders accounted for only around 1% of the total nominal in issue. So, most of the nominal amount in issue is held by a relatively few聽financial聽institutions," said a DMO spokesman. The DMO declined to reveal the names of the institutions with the five largest holdings of the 3.5% War聽Loan聽following a Freedom of Information request, citing various exemptions under the law. But it did say that the top five holders are nominee companies that own 47.6%, or 拢923m, of the amount outstanding. War聽Loans Between 1914 and 1918, the British public were asked to聽fund聽the country's war efforts with their savings. 

A UK War聽Loan聽poster from 1915Getty

They bought up bonds by the millions, called War聽Loans, as the government went cap in hand to the people to聽fund聽the hugely expensive cost of battle. Arms, ammunition, pay for soldiers 鈥?the rhetoric of war is cheap, but the reality of it is not. The first two lots of War聽Loanswere issued in 1914 and 1916 and matured in the following decade. Then came the third push in 1917. These bonds paid out twice a year on聽coupons聽worth 5% of the loan's total value. Around 3,000,000 Britons invested. The bonds were supposed to be redeemed by 1947, having given Britons three decades of half-decent returns in exchange for theirfinancial support聽in the war. But in 1932, concerned about the cost of servicing its War聽Loan聽debt and unable to redeem it all because of the economic depression, the then chancellor Neville Chamberlain changed the terms. He redeemed the聽loans聽of all those holders who wanted to cash in, even <a href=http://www.buycelinebags.com>Celine Outlet Store</a> giving a聽financial聽bonus to those who acted early. And for those who wanted to carry on, he cut the聽coupon聽payment to 3.5% and converted them to a perpetual聽, to be redeemed at some point by a government in the future. That is why the government is still paying out millions of pounds every year to people and institutions still in possession of these century-old bonds, because it has left them untouched. Inflation The problem for holders of War聽Loans聽is that their nominal value stays the same. So with every year of inflation, the less valuable the bonds become. Ordinarily, bonds are relatively short term. So as long as the聽couponpayments beat inflation, and the nominal amount is redeemed after a few years, the investment is sound. Over a century, however, inflation has destroyed much of the War Loan's original value. As it stands, War聽Loans聽are being traded at around 85p each 鈥?well under their nominal 拢1 value. Refinancing? Now seems like the best opportunity for the government to聽refinancethis war debt. Gilt yields are near to record lows. This is in part thanks to the Bank of England's massive quantitative easing programme, which saw it buy up 拢375bn worth of UK sovereign debt from the markets. And investors have flocked to reliable UK gilts, a safe haven in the markets, to protect their money from the global聽financial聽and economic turmoil around them. Britain's government can sell 20-year gilts at a rate of 3.34%, at the time of writing. <a href=http://www.buycelinebags.com>Celine UK</a> On 30-year gilts, it's 3.45%. So why not raise the 拢1.94bn needed to redeem War聽Loans聽and pay a lower rate on the debt 鈥?cutting the聽coupon聽cost for taxpayers 鈥?until the bonds come to their natural end years down the line? The UK Treasury told聽IBTimes UK聽it has no plans to聽refinance聽WarLoans, though it keeps them under review. "Any such decision to redeem undated gilts would be taken in accordance with the government's debt management objective, which is to minimise over the long term the costs of meeting the government's聽financing聽needs, subject to risk," a spokesman for the UK Treasury said. "Presently, the government's聽stock聽of undated gilts offers relatively low-cost long-term聽financing聽with no聽refinancing聽risk to the taxpayer. "Consequently, HM Treasury would need to make a long-term value-for-money judgment that the yields at which it could聽refinance聽the War聽Loan聽would be likely to remain below the聽coupon聽rates on these undated gilts for a sustained period of time."

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