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| Link | Quote | Stars | Tags | Author |
| 22ebbcf | A beauty is a woman you notice; a charmer is one who notices you. | Adlai Stevenson II | ||
| c43b516 | As the banks took over the securities, the ratios between their capital and their assets lurched down towards their regulatory minima. Central banks in the United States and Europe sought to alleviate the pressure on the banks with interest rate cuts | Niall Ferguson | ||
| 02aa7e5 | apposite | Niall Ferguson | ||
| e75f891 | by the second quarter of the twentieth century one in nine German doctors was a Jew, and one in six lawyers. There were also above-average numbers of Jews working as newspaper editors, journalists, theatre directors and academics. Indeed, they were under-represented in only one of Germany's elite occupational groups, and that was the officer corps of the army. Anti-Semitism, then, was sometimes nothing more than the envy of under-achievers. | Niall Ferguson | ||
| 7983cd0 | The Crusades, like the conquests that followed, were as much about overcoming Europe's monetary shortage as about converting heathens to Christianity.14 | Niall Ferguson | ||
| bc6df41 | the way the money was spent ensured that Spain's newfound wealth provided the entire continent with a monetary stimulus. | Niall Ferguson | ||
| 278735c | At Tsushima on May 27-28, 1905, the Japanese fleet under Admiral Togo Heihachiro sent two-thirds of the Russian fleet - 147,000 tons of naval hardware and nearly 50,000 sailors - to the bottom of the Korea Strait. | Niall Ferguson | ||
| 37783a9 | the Japanese had won by being more European than the Russians; their ships were more modern, their troops better disciplined, their artillery more effective. To Leo Tolstoy, the titan of Russian letters, Japan's victory looked like a straightforward triumph of Western materialism. | Niall Ferguson | ||
| b28d063 | money was commoditized labour, | Niall Ferguson | ||
| 846db1c | reified | Niall Ferguson | ||
| deb2066 | If the British wished to abolish the slave trade, they simply sent the navy. By 1840 no fewer than 425 slave ships had been intercepted by the Royal Navy off the West African coast and escorted to Sierra Leone, where nearly all of them were condemned. | Niall Ferguson | ||
| 020ebe3 | knout | Niall Ferguson | ||
| 9eb64ca | the pairing instinct is the great remover of the limits between individuals, | Niall Ferguson | ||
| 63d1cb5 | Ashkenazim | Niall Ferguson | ||
| b7f53cd | losing weight. When we finish eating this horse I | Larry McMurtry | ||
| aa6f4d9 |
En teoria el impuesto era pagado por los productores de los articulos afectados, pero en la practica recaia sobre los consumidores, pues los productores se limitaban a agregar el impuesto a sus precios. Incluso el vaso de cerveza o whisky que consumia o cada pipa que fumaba estaban sujetos a impuestos. Como lo dijo Burns, su negocio era < |
Niall Ferguson | ||
| fe6e77d | From the point of view of most African-Americans, American independence postponed emancipation by at least a generation. | Niall Ferguson | ||
| d399933 | Salvo unas cuantas excepciones, la elite politica britanica, a diferencia de la elite intelectual mayoritariamente socialista, encontro muy dificil aceptar que el imperio tenia que desaparecer como precio a pagar por la victoria. | Niall Ferguson | ||
| debbf01 | En la practica el dinero invertido en una colonia de iure como la India (o en una colonia en todo sentido, excepto el nombre como Egipto) era mucho mas seguro que invertir en una colonia de facto como Argentina. | Niall Ferguson | ||
| 7ca7969 | The final National Strategic Target List specified 1,050 Designated Ground Zeros (DGZs) for nuclear weapons, including 151 urban-industrial assets. Even the minimal version of the plan envisioned 650 DGZs being hit by over 1,400 weapons with a total yield of 2,100 megatons. | Niall Ferguson | ||
| 8125bf1 | Tambien explica por que Gran Bretana pudo superar a sus rivales ibericos: precisamente porque, por ser una recien llegada a la carrera imperial, tuvo que dedicarse a colonizar los pocos prometedores paramos de Virginia y Nueva Inglaterra, antes que las ciudades de Mexico y Peru, donde el saqueo estaba a la orden del dia. | Niall Ferguson | ||
| b6c928b | El historiador economico David Landes ha elaborado recientemente una lista de medidas que el gobierno ideal tendria que adoptar para el crecimiento y desarrollo: 1. aseguraria los derechos de la propiedad privada del mejor modo posible para alentar el ahorro y la inversion; 2. aseguraria los derechos de libertad individual... tanto contra los abusos de la tirania como... del crimen y la corrupcion; 3. haria cumplir el derecho contractu.. | Niall Ferguson | ||
| 12a6032 | aunque el liberalismo economico y politico anglofono sigue siendo las mas atractiva cultura del mundo, tiene el reto de hacer frente, como ha ocurrido desde la revolucion irani, a una seria amenaza procedente del fundamentalismo islamico. | Niall Ferguson | ||
| 92c2766 | Africa is in fact a more Christian continent than Europe. There are now, for example, more Anglicans in Nigeria than in England. | Niall Ferguson | ||
| 0bec204 | Me estremezco al pensar en cual ha de ser el resultado de una lucha entre sistemas tan distintos; uno de nosotros ha de prevalecer y el otro sera destruido, en cualquier caso no podemos existir ambos de forma segura. De su parte esta la inmensa riqueza de su imperio, recursos intactos, experiencia y practica en las armas, una soldadesca veterana, una serie ininterrumpida de victorias, disposicion a resistir las dificultades, union, orden, d.. | Niall Ferguson | ||
| a9bf9c5 | Since no country has had any experience with the tactical use of nuclear weapons, the possibility of miscalculation is considerable. The temptation to use the same target system as for conventional war and thereby produce vast casualties will be overwhelming. The pace of operations may out strip the possibilities of negotiation. Both sides would be operating in the dark with no precedents to guide them.119 | Niall Ferguson | ||
| 2cdd63c | Vice President Nixon the following year: he was even prepared to use atomic weapons to shore up the French position in Indochina.63 "The United States cannot afford to preclude itself from using nuclear weapons even in a local situation," | Niall Ferguson | ||
| 13d4f11 | Estamos lejos de ser contrarios a la introduccion del cristianismo en la India [...] pero nada podria ser mas insensato que un intento imprudente o desatinado que introducirlo por medios que podrian irritar y suscitar sus prejuicios religiosos [...] Es deseable que el conocimiento del cristianismo sea impartido al nativo, pero los medios que se han de emplear con ese fin deberan ser tales que sean libres de cualquier peligro o alarma politi.. | Niall Ferguson | ||
| a54d813 | La carrera de Morgan es el clasico ejemplo del modo como se inicio el imperio britanico, empleando a individuos emprendedores asi como fuerzas regulares. | Niall Ferguson | ||
| a0180b3 | I would feel happier about professions of high moral principles if they did not so frequently coincide with a policy of minimum risk."189" | Niall Ferguson | ||
| 1abf1b8 | Inflation', wrote Milton Friedman in a famous definition, 'is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output. | Niall Ferguson | ||
| de8178a | El proyecto de modernizar y cristianizar la India habia resultado un absoluto fracaso, hasta el punto que termino por barbarizar a los britanicos. Los que realmente tenian que gobernar la India habian estado en lo correcto: interferir en las costumbres nativas solo podia traer problemas. Sin embargo, los evangelicos se negaban a aceptarlo. A sus ojos, la rebelion habia ocurrido porque la modernizacion no habia avanzado lo suficientemente ra.. | Niall Ferguson | ||
| a6199f6 |
El famoso lema de Samuel Adams: < |
Niall Ferguson | ||
| dd998b1 | The Hollywood version of the War of Independence is a straightforward fight between heroic Patriots and wicked, Nazi-like Redcoats. The reality was quite different. This was indeed a civil war which divided social classes and even families. And the worst of the violence did not involve regular British troops, but was perpetrated by rebel colonists against their countrymen who remained loyal to the crown. | Niall Ferguson | ||
| b959e8b | When bond prices fall, interest rates soar, with painful consequences for all borrowers. | Niall Ferguson | ||
| 86ec092 | Buying a 100,000 yen bond keeps the capital sum safe while also providing regular payments to the saver. To be precise, the bond pays a fixed rate or 'coupon' of 1.5 per cent: 1,500 yen a year in the case of a 100,000 yen bond. But the market interest rate or current yield is calculated by dividing the coupon by the market price, which is currently 102,333 yen: 1,500 / 102,333 = 1.47 per cent. | Niall Ferguson | ||
| 384d81b | Or, to reassure the bond market, does it cut expenditures in some other area, upsetting voters or vested interests? Or does it try to reduce the deficit by raising taxes? | Niall Ferguson | ||
| 1e1ad6c | Despite the South's military setbacks, they retained their value for most of the war for the simple reason that the price of the underlying security, cotton, was rising as a consequence of increased wartime demand. Indeed, the price of the bonds actually doubled between December 1863 and September 1864, despite the Confederate defeats at Gettysburg and Vicksburg, because the price of cotton was soaring. | Niall Ferguson | ||
| 29e4577 | the shortage of cotton also drove up the price and hence the value of the South's cotton-backed bonds, making them an irresistibly attractive investment for key members of the British political elite. | Niall Ferguson | ||
| d12847e | that investors should be able to take physical possession of the cotton which underpinned the bonds if the South failed to make its interest payments. Collateral is, after all, only good if a creditor can get his hands on it. And that is why the fall of New Orleans in April 1862 was the real turning point in the American Civil War. With the South's main port in Union hands, any investor who wanted to get hold of Southern cotton had to run t.. | Niall Ferguson | ||
| 3eaa622 | Latin American republics were among the first to discover that it was relatively painless to default when a substantial proportion of bondholders were foreign. | Niall Ferguson | ||
| 70a9aa1 | It is hard to believe that Gladstone would have ordered the invasion of Egypt in 1882 if the Egyptian government had not threatened to renege on its obligations to European bondholders, himself among them. | Niall Ferguson | ||
| 09fd0e3 | remember that the interest is paid on the face value of the bond, so if you can buy a 5 per cent bond at just 10 per cent of its face value you can earn a handsome yield of 50 per cent. In essence, you expect a return proportional to the risk you are prepared to take. | Niall Ferguson | ||
| 04fe84f | the state has to pay 50 per cent, then even reliable commercial borrowers are likely to pay some kind of war premium. It is no coincidence that the year 1499, when Venice was fighting both on land in Lombardy and at sea against the Ottoman Empire, saw a severe financial crisis as bonds crashed in value and interest rates soared. | Niall Ferguson |