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285222.  Tue Feb 26, 2008 10:33 am Reply with quote

I’m not sure this takes us anywhere, but it struck me - and might be a useful one-liner if Fate or Finance get going as subjects.

The Co-operative Bank recently issued a FAQ leaflet on “the cheque clearing cycle,” which noted the following:

T+4 = Transaction day plus 4 clearing days. The day you can withdraw against the cheque deposit in your current account. Until ‘certainty of fate’ is reached a cheque can still be returned unpaid and the deposit removed from your account.

I do like the idea of a bank determining “certainty of fate.”

Links: Finance

289998.  Tue Mar 04, 2008 8:04 am Reply with quote

I see I posted this last year ... but my excuse for repeating it is that I’ve since read a better account, which offers an extra fateful detail ..

In 1967, on the orders of the US government, Bolivian army sergeant Mario Teran killed Che Guevara, guerrilla leader and former Cuban government minister. Che’s body was flown to the small town of Vallegrande, where it was exhibited to the world’s press in the small local hospital.

Sgt. Teran, as Latin America’s most hated man, spent the next few decades in hiding. He became afflicted with cataracts in both eyes, leading to near blindness.

In 2006, Mario became one of many people throughout Latin America to receive free eye surgery from Cuban ophthalmic surgeons as part of the famous sight-saving programme “Operation Miracle.”

The hospital in Vallegrande, where Che’s corpse was displayed, is now the local base for Operation Miracle, staffed by 20 Cuban medics. (Though I don’t think that’s where Mario had his op, which would be too much to hope for.)

S: Cuba Si magazine, Autumn 07.

303044.  Wed Mar 26, 2008 8:50 am Reply with quote

To go with certainty of fate, here’s another wonderfully dramatic finance phrase:

"Odious debt is a debt owed by a despotic regime which used loans to strengthen its control and dictatorship, rather than in the interests of citizens of that country," he says, urging that "the doctrine's origins lie in the US civil war. Then, the bankers of the north lent money to the slave-owning leaders of the southern states to prosecute their military campaign against the industrial capitalists of the north.
"When the north was victorious, the Boston bankers asked the new unified government to pay back the debt that had been incurred by the southern states, but the US government refused, insisting that it was an odious debt," Toussaint explains.
Fast-forwarding to April 7 2003, Toussaint observes that "the US treasury secretary convoked the G8 ministers of finance and declared that the debt incurred by Saddam's Ba'athist regime was an odious debt which should therefore be cancelled.
"But the Financial Times, acting as the mouthpiece for international finance capital, immediately launched a campaign calling on the G8 not to use the doctrine of odious debt, warning: 'If you do that, you would have to cancel the debts of Indonesia, Chile, Congo, Chad, South Africa, Rwanda, Philippines and on and on.'
"The US administration rapidly backpedalled on odious debt, claiming that Iraq was a unique issue," he says.

S: Morning Star, 18 March 08


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