start forex

Terrell Owens is in your breakfast cereal.

Just look down, and you’ll see little “ESPN” logos floating around in the milk, and then every so often you’ll see T.O.’s mug pop to the surface for air and say, “My contract is slave wages!” and then re-submerge.

Owens is also in your coffee cup. The moment you drain the last drop of Maxwell House, you’ll see T.O.’s simpering face demanding a trade.

He’s in your shower for sure. Be careful when you open the curtain. If you find him in a bad mood, he’ll jump out and start screaming at you for bad play-calling.

He and Jeremy Schaap are dancing a rallentando on your car roof. His agent, Drew Rosenhaus, is skiing in your hair gel. T.O. is in the crawl space under your house, between your dog’s toenails, and up your wife’s left nostril. ESPN’s John Clayton, Chris Mortensen, Sean Salisbury, Mark Schlereth and Chris Berman are breathlessly running alongside you on the highway, informing you of another impending T.O. armageddon.

Your eyes have turned Eagle-green. Your lips have reformed in the shape of the team’s wing helmet logo. You’ve put on 300 pounds because Andy Reid is your new Siamese twin.

You can’t escape the massive scale of this story. Don’t even try.

Well, that Virginia Tech drama lasted for all of 10 minutes. Do you see any way that the BCS title game doesn’t come down to USC against Texas? Who has an early lead in your mind on the winner of that game?

Bob Aggarwal, Pro Handicappers League: I don’t see anyone beating Texas or USC the rest of the way. Those two teams are head and shoulders above everyone else. The early nod has to go to USC with their experience and team leadership. Not by much, maybe a field goal. I could even see that line possibly opening at 4.

Greg Jorssen, BoDog: Unless UCLA can knock USC from the undefeated rank during the last week of the season, you will be seeing USC play Texas in the Rose Bowl. The Hokies were the only reason all season long that they held off on printing the Trojan vs. Longhorn Rose Bowl tickets. Now that Texas is the clear #2, the two teams just need to concentrate on winning their remaining games to guarantee this epic match-up, as one little slip-up will have the Tide rush in and take their spot in the national spotlight on January 4th. If and when Texas and USC meet in the Rose Bowl, you would have to give the slight edge to USC, due to the game being played on their home turf, somewhat. Updated Power Rankings have USC at 104 and Texasat 103, thus slight edge to the Trojans on a neutral field. With the game being played in their backyard, you would have to open the line in the neighborhood of USC -4 or -5. And besides, can you come up with any reasons at all to doubt Pete Caroll, Reggie Bush and Matt Leinart in a pressure game?

The Colts clearly proved New England is too banged-up to be a threat this season. So my question to you now: are the Colts for real? Do they have what it takes (especially on defense) to be a Super Bowl champ?

GJ, BoDog: At the midway point of the season, clear to see that the Colts are the class of the NFL. It was a surprising stat to read today that Monday’s performance by Peyton Manning was his first 300+ yard game of the season; however that just shows the shift in the team’s focus this year. They possess the league’s #4 defense (compared to last year’s 29th place ranking) to go along with the league’s fourth-best offense. That said, are they for real? I cannot really answer
that until they actually have played someone. Patriots were too beaten up to give the Colts a fair test. The previous seven opponents are a combined 19-38, thus the true test will be November 20th in Cincinnati and then at home to face the Steelers the following week. If the Colts’ defense can remain as dominant against these top caliber teams, then, and only then, can I say that they have what it takes to hoist the Lomabardi Trophy in February.

BA, Pro Handicappers League: The Colts showed Monday night they are certainly legit. We all knew in the past that they had the capability to light up almost anyone offensively. That has not changed. It’s the defense that has made the difference this year. They are currently ranked 4th in the league overall in team defense allowing just 278.8 yards per game. Last year’s weakness, their run-stopping capability, has gone by the wayside as the Colts are allowing less than 100 yards a game. Overall they are allowing just 12.2 points per game as well, good for second-best in the league. Indy has finally put it all together, the stellar offensive capabilities of a Peyton Manning led team and the defense
that Tony Dungy has been working on for the past four years.

Do the Eagles have a chance in the world without Terrell Owens?

BA, Pro Handicappers League: Everyone forgets this club went to three straight NFC title games without TO. This franchise was great before him and they will be great after him. As long as Andy Reid is head coach, the Eagles will always be contenders.

GJ, BoDog: The Eagles would have struggled making the playoffs with or without Terrell Owens due to the division they are in and the injuries they have incurred; however they did what they had to do for the future success of this team. I have managed many an employee that had incredible talent, but had poisonous and destructive attitudes on the work floor. The decision to let that person go, thus hurting my company in the process in the short term, was very difficult yet necessary in ensuring a workforce that was working together as a team. The Eagles were a circus show with Owens on the sidelines. Now, hopefully, Coach Reid can get this issue behind him and focus his team out of the spotlight and onto the task at hand, which is back into the spotlight for a Monday Night game against the Cowboys. Reid has his work cut out for him.

The first NCAA Hoops poll is out. How much stake do you put in it? Is Duke really going to be that much better than everyone else?

GJ, BoDog: I don’t put too much weight into pre-season polls; however when a team receives 61 out of a possible 72 first-place votes, you tend to give the pre-season poll a little more notice. Duke is definitely the team to beat this year, with J.J. Redick and Shelden Williams, both AP All-Americans, returning for their senior year. Last time Duke had two All-Americans in their lineup was back in 1992 when Bobby Hurley (remember him?) and Grant Hill were teammates. Redick’s stats are quite impressive: he averaged just under 22 points in his junior year, and shot over 40% from the three-point line. Williams is an offensive and defensive force, averaging 15.5 points per game and averaging over 11 rebounds per game. Throw in the fact that the Blue Devils have the best freshman class in the nation, and it’s clear to see that they will be the team that cuts down the nets in early April and that we could quite possibly be seeing the start of what could be a Duke dynasty for the next few years. Texas, on the other hand, hopes to rebound from a disappointing first-round defeat by returning four double-digit scorers. The Longhorns possess possibly the most talented point guard in the nation in Daniel Gibson, who is one year older and smarter thus will be dominant all season if he stays healthy and if Texas can develop a back-up point guard to give Gibson some rest. Mark December 10th on your calendar, as Texas and Duke battle for what could be the #1 ranking in the nation.

BA, Pro Handicappers League: I put almost no stake at all in preseason polls. Remember two years ago when Alabama was ranked number #3 preseason and didn’t even make the NCAA tournament? The polls are there for exposure and for people to chat about by the water cooler. After that, they mean absolutely nothing. The Blue Devils will certainly be solid, especially in a year when the ACC is a bit down. With that said, they still have just two experienced seniors and several questions at the point. Duke won’t runaway with anything, neither will any college club this year for that matter. Its wide open this season with six or seven teams capable of winning it all.

Christopher Harris is a featured writer for the Professional Handicappers League. Read all of his articles at http://www.procappers.com

The forex trading software online niche is full of products which are designed to make your forex trading life a great deal easier. Some of these products deliver, others fall short. With a quarter of the total number of traders in the market using some sort of forex trading software online, it’s time you found out what you’ve been missing out on, as well.

24/7 - The forex market keeps much longer hours than the traditional stock exchange. Instead of having specific start and stop times, the forex market is an international affair which occurs in a large number of international markets and timezones. Thus there is almost always somewhere in which you can trade, regardless of the hour. While this is a clear advantage of the forex market, it also requries you the trader to be able to stay on top of the market at all hours of almost every day. This can be near impossible, so forex trading software online was developed to take a great deal of the burden off your shoulders be tirelessly watching the market at all hours of the day and night.

Automated Trading - Forex trading software online is not only designed to keep a constant watch over the market, but also to act that information on your behalf. You can control how much of a role you plan in your campaign, if you want you can simply tell it some basics in terms of what you want to trade and accomplish with your campaign and the program goes off and running on its own. With basics like stop loss and take profit, forex trading software online protects your investments. The most sophisticated programs go one step further and sense when the market is set to change in or out of your favor and trades for your accordingly, thus maximizing your gains and minimizing your losses.

Accuracy - The best forex trading software online comes with remarkably precise tip generators in one form or another. These are basically complex mathematical algorithms which have been programmed and tested to constantly predict where the market will go in the future to a T. This eliminates any possibility of human error and allows you to trade ahead of the curve with utmost accuracy. Most traders swear by the tips they receive from their programs. If you want the most precise information affecting your trades and money, there is no substitute for forex trading software online.

Start your path to financial independence today and generate some reliable and guaranteed income when you need it most by visiting http://www.forexautotradingreviewed.com for in depth comparison reviews on the leading software choices.

The carry trade is an investment strategy involving basic arbitrage between interest rates. Any Forex transaction comprises of simultaneously selling one currency and buying another. Object of the carry trade is to sell a currency with a low interest rate and purchase one with higher interest rate. Trader pays interest on the sold part of the trade and collects it on the currency that was purchased, capturing the rate differential.

This easy strategy has been a buzzword in Forex circles for many years. There are always differences in interest rates to be exploited and sometimes they are quite substantial. To make it more appealing, these imbalances can last for a long time, years even, making the carry trade a darling among the “easy money” crowd. Such was the case for JPY which had been heavily borrowed for years in order to buy NZD, AUD and GBP, until last summer. That’s when the now famous “unwind of the carry trade” took place, sinking a lot of over leveraged traders.

Since then financial press has been relatively quiet on the subject. Recently, though, new variants of the method have started to pop out. On of them involves USD being sold against a basket of other currencies. It is based on the premise that FED will continue to cut rates and the dollar will continue its weakness unabated. Since the outcome for rates of other major economies is also very uncertain, hence the basket of currencies. This makes it for a rather complicated strategy, requiring careful allocation within the basket. This particular a approach makes the carry trade a little more complicated than it needs to be.

Another option gaining attention of late is the use of emerging markets currencies, also known as exotics. Some of the relatively high yielding ones are, as of this writing, Brazilian Real, Mexican Peso, Turkish Lira and South African Rand. While they are not available on all platforms, more and more brokers are adding at least some of them to their offerings. As of late, Rand (ZAR) and Lira (TRY) seem to be leading the pack.

South African Rand has been actively traded for many years now, has accumulated a wealth of historical data and is probably most suitable for individual trader. South African Reserve Bank’s overnight rate stands 11%. Rates have been cut four times last year and this trend is expected to continue. This country has benefited enormously from the commodities boom, especially the metals. It’s not without serious problems though, very high unemployment rate, political instability, and failing infrastructure (electricity shortages) are sure to have effect on the Rand. This currency is available on most of the leading broker’s platforms.

Turkish Lira currently offers the highest interest rates in the industrial world. The benchmark overnight rate was standing at 15,25% lately. In 2001 the country started reforms, backed by International Monetary Fund, which greatly improved economic stability. This led to Turkey being one of the fasting growing economies in the world, for a few years running. Prospective European Union membership also increased the flow of foreign investment. However, country has to overcome very high level of deficit and external debt. Political instability is always possible, as well as the ever present threat of a military conflict with its Kurdish minority.

These exotics certainly offer interesting and tempting opportunities for carry trade enthusiasts. Combined with daily interest payouts and massive leverage availability, they are sure to draw attention of speculators. Let’s not forget, however, that the potential for loss is also high. During adverse times, exotic currencies will tend to move much faster than others. While worthy a second look, this carry trade is probably best suited for the most adventures traders, no matter how much hype surrounds it.

Mike P. Kulej is a Chief Forex Strategist for Spectrum Forex LLC. He specializes in mechanical trading systems as explained on http://www.spectrumforex.com Spectrum Forex LLC offers numerous services to individual traders. With questions and comments e-mail him at kulej@spectrumforex.com

Currency exchange rates in the international currency market are constantly changing. As a result, the real value of buy or sell a currency for the goods or services can significantly change and profitable contract may not be profitable or unprofitable. Currency trading, Forex trading signal, Forex trading strategy, and Forex alerts have made this industry the largest one if one is to consider its trading volume. To understand it better, let us take an example of an inter-bank trading.

Planned risk levels may be increased dramatically under extreme market conditions. Use the ideas and/or modify them to suit your trading style, but only at your own risk. Planning a trade in advance allows a trader to gather intelligence and formulate a strategy before they execute the tactics of getting in/out of a trade according to the plan. The benefits to learning how to plan your forex trading are immediate.

Margins can be as low as 0.05%, going up to 4%, depending on the broker Forex. For the ambitious individual, using leverage can generate massive profits. Margin accounts allow Forex traders to control large amounts of currency with a relatively small deposit. Establishing a margin account with a Forex broker enables you to borrow money from the broker to control currency lots which are usually worth $100,000.

Successfully engaging in currency trading is about managing risk. To decrease the odds of losing, the intelligent currencies trader does all the necessary research and training to become proficient in the FX market. Success with forex-strategies also depends on you putting in the effort to learn and follow your systems of choice. Complicating forex trading strategies by overanalyzing and trying to tweak them means breaking them, and this will jeopardize your success with forex trading.

Trade as me, walk along as me in my journey, you will know that forex trading is not a dream. Of course, it’s not a 100% sniper shot, forex trading is like running a business, take care of the down side, the upside will take care of itself. Trader can acquire and improve trading skills. Use a Forex Training Software as is an excellent tool for studying trading in a fast and convenient way, to gain and improve trading skills without risking real . Trader’s or broker’s purpose is to get the revenue by the foreign exchanges buy and sale. From the latest estimation, FOREX trading average daily constitution is about 4 trillion US dollar.

For more information on Forex Currency Trading visit our site: All You Need to Know About Forex Trading Signals. Download Our Free Forex Trading Report from our website.

Have you ever had a commercial insurance broker show up on the last day of your insurance policy with renewal quotes? In the construction business, this happens all the time. It creates stress, cash flow uncertainty, hasty decisions, coverage problems, and overpaying. It happens with renewals for General Liability, Workers Compensation, Commercial Auto, Property, and Excess Liability. It is poor service, and it costs you money.

You see, when you are out of time, you options are greatly diminished. Most insurance brokers want to be the last to present their renewal quotations. It increases the odds of them getting the renewal sale. They can ask what else is being considered. If it turns out you have a better quote from someone else, they get a chance to find something wrong with it, or call their underwriter for a deeper discount. They want to call their underwriter and say, “You can write this renewal if you will meet these conditions.” Many deals happen this way every day of the week. While this practice irritates a lot of contractors, it is good business for the insurance broker who captures the renewal sale.

Most contractors want to skip running out of time each renewal, but can’t seem to stop it. At Insurance Cost Reduction Services, we find the goal of getting quotes in early takes quite a bit of insistence. Let me share with you a few of the strategies we’ve found to be helpful.

Start early and take the initiative. Assemble your renewal bid specs 90 days before your renewal. Get updated policy history reports (loss runs). Ask brokers which insurance companies they want to quote. A market assignment is valuable to a broker, so give it only in exchange for a solemn promise to stick to your deadline. Put the deadline in writing.

Brokers want assurance their quotes will not be shown to other brokers for them to beat. Giving you a quote early exposes them to lethal competition. Assure the brokers you will be completely fair. Then stick to your promise, and don’t give quotes to other brokers in advance of your renewal.

Be very firm. Repeatedly advise brokers that the deadline is the deadline, not the expiration date. The more firmly and often you state it, the more they will believe you. Late quotes will no longer be a problem for you, if you really refuse to accept late quotes, even when they are cheaper.

For more information and free support reducing insurance costs
Click here: Contractor Insurance Renewal Control

Don Bury, President
Insurance Cost Reduction Services
Phone/Fax: 800-760-1867
email: donbury@icrs.biz

Insurance gets easy only when you get organized. Get help from the author of The Buyers Guide To Business Insurance (1993), and founder of Insurance Cost Reduction Services. Over $20 million in measurable savings delivered by helping buyers organized and negotiate with their brokers.

Over the past several years, many American families have been forced to answer the question of what to do in a cash flow crunch, when you just don’t have enough money to cover the bills and keep food on the table. According to the Mortgage Bankers Association, an average of 250,000 new families enter into foreclosure every three months, with most of these families receiving little to no training on the correct steps to be followed when experiencing a cash crunch or even considering bankruptcy.

The first thing to remember when you notice a shortage in funds, get laid off at work or experience a health crisis, and you just don’t have enough money to cover everything…is DON’T PANIC! Our founding fathers made sure that debt cannot lead to incarceration, so relax and know that you cannot go to jail for failure to pay your bills. Staying calm is one of the biggest challenges faced when experiencing a financial hardship, so count to ten, take a few deep breaths and know that everything will be just fine.

Losing your job or experiencing a major crisis usually requires a much different approach than running a little short for the month or needing some extra cash for an unseen expense. When you experience a life changing event and you know that you may not have the
cash flow to cover all of your expenses for quite some time, the very first step is to identify which bills must be paid and which can wait until you solve the current hardship situation.

Deciding which bill to pay comes down to two things, do you have equity in the debt and is the debt secured by a physical asset. Real estate is usually one of the first assets to be considered as it is both secured and has most likely built up at least some equity. If you have you have an emergency savings fund, enough income to cover the mortgage payment or at least $20,000 or more in equity, then saving your home is likely the best first step. Next, make a list of all the debts that are either secured or have built up equity, which usually consists of autos, boats, furniture or other recreation vehicles.

Unsecured debts such as credit cards, signature loans and other lines of credit are the last debts to be considered when experiencing a financial hardship. Unsecured creditors will hire attorneys, send threatening letters call your work and family, and do just about anything to get your attention. The truth is, they have no tangible asset attached to the debt and can do nothing but file with a judgment and wait.

Again, pay the debts that have equity or are secured by an asset. The rest of your unsecured debts can wait until you decide on your best course of action.

The author Chad Sunyich writes about what to do in a cash flow crunch. The only thing is not to panic and follow few things systematically. Read more on cash flow management and find more information on creating wealth, cash, cash flow at http://www.onlinecashflowmanagement.com

Apparently, several prominent politicians were getting large campaign contributions from Fannie Mae and Freddie Mac. Banks that spent 10s of millions of dollars in lobbying efforts to allow them to keep the money flowing. If you will recall many politicians called for more loans to be made for low-income folks buying homes in poorer, underprivileged and ethnic neighborhoods; well, it turns out one of these politicians was Barrack Obama, stating that black-Americans in black neighborhoods had historically not been able to get home loans.

Thus, these policies were changed, but didn’t Barrack Obama take out one of those special loans to buy his home? If he hadn’t written his two books, he may have been part of the foreclosure generation, although such talk is speculation, after all he is a US Senator and gets a decent paycheck at the taxpayer’s expense.

Unfortunately, Senator Barrack Obama also was the largest receiver of mega campaign contributions from Fannie and Freddie. Of course, he is running for President and it does take a lot of money to do that. His campaign has spent nearly 500 million dollars so far. Some political Republican pundits say that;

“I think he is part of the problem not anything close to a solution, I don’t think he even understands what is going on here and his so-called economic advisors; heck many of them were in on it too.”

Well, it is an election year and the blame game always comes around during any national crisis and since Barrack Obama is running for President, has a home loan in a targeted area and did receive large campaign contributions, well, he now has some questions to answer, so let’s see how this scandal plays out and if there is anything to it?

“Lance Winslow” - Lance Winslow’s Bio. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.

There are much debates and rhetoric about potential decoupling of the largest market in the word from Asian market. Many of the like discussions attempt to address concerns of the Asian markets would stand strong or escape with modest effect from the recession in US. Many of these doomsayers inappropriately painted the worst economic scenario in US and boasted the robustness of Asian market which could withstand the economic recession in US by their domestic demand and subsequently decouple from the world’s largest market.

The weak economic indicators reported in the press and the corporate meltdowns have been employed to justify their arguments. The 5% unemployment rate in December, slower than expected retail sales, Citigroup and Merill Lynch’s write down of bad loans, credit crunch and others, undeniably are indicators of potential recession, which some of the doomsayers say the recession could last until the next first or second quarters. During this downturn, many emerging countries would very likely to take over the role played by US as the largest buyer in the world. Obviously these countries are China and India, and some focuses on Eurozone as the appreciating Euros increases the purchasing power.

However, the decoupling scenario is rather far fetched, at least not in this near five to ten years. Asian market as a whole, which is now being engined and propelled by China could not possibly absorb the overall Asian’s supply. Since China was admitted to WTO and its role in world production network increases, many manufacturers have shifted their operation to China to reap on the advantage of low cost and other benefits that the country offers. Most of these companies are hardly indigenous; they are owned by Taiwanese, US, Europeans, and others. It is safe to say that China is a global factory, and many of the products produced are shipped to developed countries, such as US and Europe.

The relocation to China is seldom caused by the mass market. Places except Shanghai, Hong Kong, Shenzen, and other coastal provinces, are either undeveloped or outright neglected in the course of development. Thus, the overall purchasing power of the mass population is very low. The idea that China could replace US as largest market is impossible.

Robust economic growth of China in the past decade has created concern of potential price bubbles. The growth has increased the business sentiments and potential of the economy, which has caused the inventories to build up, increase of production, positive potential has helped to buoy the demand further and the whole economy boasted a more than 10% growth in the past decade. As the result, price of property has been artificially shot up by speculation and hot money, corruption has been wide spread. Recognizing the danger of business cycle and the looming bubble burst, policies have been drawn up to curb the over exposure of the economy; control of prices of essential goods, stricter environmental regulations to curb excessive production of manufacturers, more stringent export rules, higher quality assurance and inspection on exporting products, and higher reserves required in conventional banks. These steps are being taken amid financial crisis in the US market. Expectedly, the policies are to cool the economy in the next quarter or so, and the domestic demand dynamics which were witnessed in the past decades would be reduced tremendously.

At the other front, the overall Asian markets are gripped with potential high inflation rate. Singapore, Taiwan, Malaysia are seeing their purchasing power being eroded by edging price of crude oil. The depreciation of Greenbacks has caused the price of oil expensive in these economies. The notion that domestic demand could offset the demand evaporated due to US recession is therefore not so promising. Contrasting with the positive perceptions that the markets are undergoing structural shifts and become more robust, and thus could decouple from US market, the local Governments are now face with the potential inflation ( due to price surge in oil), and since US has been the largest export market, the potential of lower external demand is looming large. In other words, the local Governments are juggling with either increase the short term rate to combat the inflation or reduce to boost local demand to cushion the US recession. Either way, the economies in the region are very much exposed to the recession due to their long history of depending on US market.

This dependence can be seen in technology sector. High number of manufacturers in the region depends on tech spending in the US market. Since the mortgage crisis, the spending has proven to be very slow or outright negative. The crisis is not confined to mortgage market, its spread is seen in manufacturing, retail, and general business. The securitization of the sub prime loans, and coupled with the grading of these securities had supported the investments. The sudden drop due to the dry up of demand, and the revelations of so many unscrupulous practices in granting of loans and investment practices have caused one to question the integrity of grading of these investment tools. The lost in sentiment is further enhanced by the evaporating asset values, which its appreciation had fueled demand in the past decades. These have caused the cut down in expansion of businesses, lower demand in retails, and most importantly the cut down in tech spending which causes a large impact on import of the gadgets from Asian markets. Thus, the demand of the core sector of Asian economies is quickly running out.

The focus is now on two other developed nations to help cushion the impact; Europe and Japan. However, Japan has been experiencing economic slow down since early 1990s. Its short term rate has been low and has raised concern of potential high price in the economy. With the expected slower demand from US market, it has been tough for the economy to raise rate in the short term. The other factor relates to the concern of putting pressure on Greenback if Japan increases the short term rate. The effort could trigger higher re-purchase of Yen due to unwinding of carry trades, and put a downward pressure on dollars, thus aggravating the recession. European markets are facing high unemployment rate since relocation of manufacturers to low cost emerging markets such as Asia, and Eastern Europe. The recession and depreciation of dollar has caused huge damage to the businesses exposed to the US market but operating in Europe. Further, the idea that the continent could offset the demand drop and absorb the shocks is impossible.

In this gloomy environment, it is best that one does not predict any miracle could emerge that could absorb the goods that the region produces, or rather to debate on the possible decoupling of the markets. The most important lesson learnt from the past crisis was the evolution of new industrial structure, which is resulted from phasing out of obsolete and incompetent industries, businesses becoming more lean, and therefore, improvement of overall business environment.

John Chng at http://economicsandpolitics.blogspot.com/

If you have been searching for a reliable source of short-term finance, in order to handle your cash crunch better then online payday loan in Canada is the answer. That is because; it is completely unlike the conventional loans as it provides you with money in the space of a few hours. There is no running around needed on your part. The whole business, as the name suggests, is transacted online itself. Therefore, right from the stage of the application to the disbursal of money, you do not need to move out of your home even once!

Money is Just a Click Away

In order to get an online payday loan in Canada, all you need to do is, fill a simple online application needing some basic facts. As far as eligibility is concerned, it is not much. One has to fulfill certain basic criteria like, being above 18 years of age, being a Canadian citizen, and having an average monthly salary of $1000. If you meet these, your financial woes have ended immediately. Your application is sure to get you an instant approval, after which, within a few hours, the much-needed money, will be in your account. It will seem as though you never had a cash crunch at all.

A paycheck-to-paycheck lifestyle is often very bad for the budget. Making both the ends meet can also become a tough job sometimes. In such a scenario payday loan Canada comes handy, because it provides you with up to $1500 at a very short notice and that too without and collateral, yes it is an unsecured loan. Speed and efficiency are the basic characteristics of the online payday loan in Canada. One can be assured of getting the money speedily. No questions are asked and no justification wanted for the reason why you need the loan. This is great, because then one does not have to face any sort of embarrassment at all.

The Loan is Flexible

The usual term of the loan is 1-2 weeks, but this can be extended up to a month, on payment of some extra fee. Therefore, whatever financial emergency shows up its face, be it pending credit card bills or a medical emergency or even a car repair job, you can avail online payday loan in Canada from the payday loan company in Canada. Even, if it is your vacation, for which you need the finance or if you want to go shopping at a discount sale or want to pick up a valuable antique at some auction, without any hesitation, seek online payday loan in Canada.

Online payday loan in Canada is quick and efficient in providing financial assistance to all those facing a mid month cash crisis. Then why ask a friend or a relative, just inquire with payday loan company In Canada and they are sure to find you eligible for payday loan Canada. After all basic eligibility is all that the best payday loan require.

Ban Ki-moon, Secretary General of the United Nations, stated in an October 15, 2007 address, “Climate change is a defining issue of our time. The science is clear. . . . We know what we have to do. We have affordable measures and technologies to do it.” What we don’t have is the money - at least, we don’t have it under the current system of bank-created credit.

We also don’t have time. Ban Ki-moon went on:

“Traveling in Chad recently, I saw first-hand the humanitarian toll of climate change. An estimated 20 million people depend on a lake and river system that has shrunk to a tenth of its original size over the past 30 years. In Africa right now, the worst rains in memory are washing hundreds of thousands of people from their homes. These are signs of what is to come. The problems our generation faces will be worse for our children, particularly if we do not act. . . . We must engage the private sector, stimulate economic activity, use new financing and market-based approaches, develop and transfer know-how, and create jobs.”

In the fall of 2007, the United Nations Development Program (UNDP) sought ideas for a debate to be held in Bali in December 2007, involving innovative ways to fund the costs of adapting to climate change in the developing world. My submission was not adopted, but I think it would work. It is below. (For footnotes, see www.webofdebt.com/articles.)

FUNDING PUBLIC PROJECTS WITH PUBLICLY-ISSUED MONEY

Governments have the sovereign right to create and lend money. The United Nations could assume that right as well, just as the International Monetary Fund has assumed the right to issue credit in the form of “Special Drawing Rights” that are convertible into national currencies. As will be shown here, government-issued or U.N.-issued money could be used for sustainable energy projects without causing inflation, and this could be profitably done even by impoverished governments with weak legal structures and immature government accountability mechanisms.

Credit created by governments or the United Nations would have the advantage that it could be issued interest-free. Eliminating the cost of interest could cut production costs dramatically. Interest composes as much as 77% of the cost of capital-intensive goods and services such as public housing. The average is brought down by labor-intensive services such as garbage collection, for which interest makes up only about 12% of the cost; but the overall average cost of interest has been estimated at about half of everything we buy. If money for alternative energy projects were issued interest-free, projects that have been considered unsustainable because of the burden of interest could become not only self-sustaining but highly profitable for the funding governments.

In “The Modern Universal Paradigm” (2007), Rodney Shakespeare gives the example of the Humber Bridge, which was built in the UK at a cost of 98 million. Every year since the bridge opened in 1981, it has turned an operating profit; that is, its running costs (basically repair, maintenance and staff salaries) have been exceeded by the fees it receives from travelers crossing the river Humber. But by the time the bridge opened in 1981, interest charges had driven its cost up to 151 million; and by 1992, only 10 years later, the debt had shot up to a breath-taking 439 million. The UK government was forced to intervene with sizeable grants and writeoffs to save the local residents from bearing the brunt of these costs. If the bridge had been financed with interest-free, government-issued money, these costs could have been avoided and the bridge could have funded itself.

THE INFLATION OBJECTION

The argument against governments issuing and lending money for development projects is that it would be inflationary, but this need not be the case. Price inflation results when “demand” (money) increases faster than “supply” (goods and services). As economist John Maynard Keynes pointed out, when the national currency is expanded to fund productive projects, supply goes up along with demand, leaving consumer prices unaffected.

Moreover, private banks themselves create the money they lend. Many authorities have confirmed this fact, including the Federal Reserve itself. The Chicago Federal Reserve exposed the mechanics of money creation in a publication called “Modern Money Mechanics,” in which it said:

“Of course, they [commercial banks] do not really pay out loans from the money they receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers’ transaction accounts.”

See also “Money Facts,” published in 1964 by Congressman Wright Patman, Chairman of the Subcommittee on Domestic Finance of the Banking and Currency Committee. Responding to the question “Do private banks issue money today?”, he wrote:

“Yes. Although banks no longer have the right to issue bank notes, they can create money in the form of bank deposits when they lend money to businesses, or buy securities. . . . The important thing to remember is that when banks lend money they don’t necessarily take it from anyone else to lend. Thus they “create” it.”

During the recent bank credit crisis in August 2007, the central banks of the United States, Europe, Canada, Australia and Japan collectively extended a $315 billion credit line to commercial banks. This credit was created out of nothing (something central banks assume the right to do as “lenders of last resort”), and the sums advanced were huge. For comparative purposes, a mere $188 billion would have been enough to repair all of the 74,000 U.S. bridges known to be defective, preventing another disaster like that in Minnesota in July 2007. The Carbon Trust, a well-known UK company dedicated to cutting carbon emissions, is responsible for reducing emissions by nearly 2 million tons per year on a 2007 budget of only £115.9 million (about $240 million U.S.). If central banks can create hundreds of billions of dollars to save floundering private banks, governments can create comparable credits to adapt to climate change, an even more pressing problem.

The sovereign right to issue money actually belongs to governments, not to private banks; but few governments exercise that right today. The only money the U.S. government issues are coins, which compose only about one one-thousandth of the U.S. money supply (M3). All of the rest is created by private banking institutions when they make loans. This includes the privately-owned Federal Reserve, which creates Federal Reserve Notes (dollar bills) and lends them to the government and to commercial banks.

The process by which banks create money is inherently inflationary, because they lend only the principal, not the interest necessary to pay their loans off. To come up with the interest, new loans must be taken out, continually inflating the money supply with new loan-money. And since the money is going to the creditors rather than into producing new goods and services, demand (money) is increasing without increasing supply, producing price inflation. If credit were extended by governments interest-free, inflation might actually be reduced, by reducing the need to continually take out new loans to find the elusive interest to service old loans.

HISTORICAL PRECEDENTS

Government-issued money to fund public projects is not a new idea but has a long and successful history. Among other notable examples:

In the early eighteenth century, the colony of Pennsylvania issued money that was both lent and spent by the local government into the economy, producing an unprecedented period of prosperity. This was done not without producing price inflation and without taxing the people.

When Abraham Lincoln needed money to fund the American Civil War, rather than paying 25 to 36 percent interest charges, he avoided going into debt by printing Greenback dollars that were “legal tender” in themselves. Again, historians of the period attest that this issue of Greenbacks was not responsible for price inflation.

The island state of Guernsey, located in the Channel Islands, has been funding infrastructure with government-issued money for over 200 years, without price inflation and without government debt.

During the First World War, when private banks were demanding 6 percent interest, Australia’s publicly-owned Commonwealth Bank financed the Australian government’s war effort at an interest rate of a fraction of 1 percent, saving Australians some $12 million in bank charges. After the First World War, the bank’s governor used the bank’s credit power to save Australians from the depression conditions prevailing in other countries, by financing production and home-building and lending funds to local governments for the construction of roads, tramways, harbors, gasworks, and electric power plants. The bank’s profits were paid back to the national government.

A successful infrastructure program funded with interest-free “national credit” was also instituted in New Zealand after it elected its first Labor government in the 1930s. Credit issued by its nationalized central bank allowed New Zealand to thrive at a time when the rest of the world was struggling with poverty and lack of productivity. According to a book titled State Housing in New Zealand published by the Ministry of Works in 1949:

“To finance its comprehensive proposals, the Government adopted the somewhat unusual course of using Reserve Bank credit, thus recognizing that the most important factor in housing costs is the price of money - interest is the heaviest portion in the composition of rent. . . . This action showed . . . it was possible for the State to use the country’s credit in creating new assets for the country.”

Stan Fitchett, writing in the New Zealand Guardian Political Review in 2004, explored whether this approach would create price inflation today. He confirmed with bank officials that 97 percent of the New Zealand money supply is now created by commercial banks when they make loans. The year he was writing, the money supply increased by 18,527 million New Zealand dollars, or 16.8 percent; and 97 percent of this increase came from commercial bank lending. Fitchett confirmed with banking experts that if the Reserve Bank had created 100 million New Zealand dollars for new houses in New Zealand, the sum would have had no noticeable impact on inflation, since it was only one-half of one percent of what was already being added to the money supply annually by private commercial banks. Similar figures apply in the United States and other countries.

IMPLICATIONS FOR THE CURRENT CLIMATE CRISIS

Development loans have become debt traps for many Third World countries, as interest has compounded annually on loans of money created by commercial banks with accounting entries. If governments or the United Nations would take over that function and advance credit created with accounting entries themselves, the crippling expense of compound interest could be eliminated. Interest-free loans could help ease the current crises not only of climate change but of housing, energy, infrastructure, food, and health care.

Funds for public development could be advanced as “contingent grants.” If the projects were profitable, the money would be returned to the government from profits. Private contractors could be hired to do the work, but the projects would remain public assets that continued to produce profits for the benefit of the government and the people. To prevent abuse, the money would not simply be given away but would have to be repaid on a regular payment schedule, just as private loans are now. The only difference would be that the credits would be advanced by the government or the United Nations rather than by private commercial banks, and they would not be burdened with interest.

Interest-free credit could turn alternative energy proposals that would have been priced out of the private credit market into profitable ventures, even for poor countries lacking financial and other resources. Among many interesting possibilities for local energy production is this one drawn by Rodney Shakespeare from the bio-fuel field:

“[W]hile traditional crops have yields of around 50-150 gallons of bio-diesel per acre per year, it is today being claimed that algae can yield 5,000-20,000 gallons per acre per year. . . . The algae are grown in “solaroof” (plastic greenhouse-type) structures using a new, simple technology . . . [I]t is being claimed that the algae processes are financially viable even under the existing economic and financial system which uses interest-bearing money. If that is true, then the world can be saved from global warming and, even it if it is not true, there is obviously still the clear possibility that the use of interest-free loans for algae production . . . would be sufficient to make the outcome financially viable. Crucially, the localized production of the algae would enable the localized production of electricity thereby eliminating the need for huge electricity distribution networks. . . . [T]he new technological solutions are local and are part of a new attitude to life which can be summarized as sustainable living rather than sustainable development.”

Ellen Brown, J.D., developed her research skills as an attorney practicing civil litigation in Los Angeles. In “Web of Debt,” her latest book, she turns those skills to an analysis of the Federal Reserve and “the money trust.” She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back. Her websites are http://www.webofdebt.com and http://www.ellenbrown.com Her eleven books include the bestselling “Nature’s Pharmacy,” co-authored with Dr. Lynne Walker, which has sold 285,000 copies.