Search results for ""Sovereign""

The simple fabric face mask is a key agent in the fight against the global spread of COVID-19. However, beyond its role as a protective covering against coronavirus infection, the face mask is the bearer of powerful symbolic and political power and arouses intense emotions. Adopting an international perspective informed by social theory, The Face Mask in COVID Times: A Sociomaterial Analysis offers an intriguing and original investigation of the social, cultural and historical dimensions of face-masking as a practice in the age of COVID. Rather than Beck’s ‘risk society’, we are now living in a ‘COVID society’, the long-term effects of which have yet to be experienced or imagined. Everything has changed. The COVID crisis has generated novel forms of sociality and new ways of living and moving through space and time. In this new world, the face mask has become a significant object, positioned as one of the key ways people can protect themselves and others from infection with the coronavirus. The face mask is rich with symbolic meaning as well as practical value. In the words of theorist Jane Bennett, the face mask has acquired a new ‘thing-power’ as it is coming together with human bodies in these times of uncertainty, illness and death. The role of the face mask in COVID times has been the subject of debate and dissension, arousing strong feelings. The historical and cultural contexts in which face masks against COVID contagion are worn (or not worn) are important to consider. In some countries, such as Japan and other East Asian nations, face mask wearing has a long tradition. Full or partial facial coverings, such as veiling, is common practice in regions such as the Middle East. In many other countries, including most countries in the Global North, most people, beyond health care workers, have little or no experience of face masks. They have had to learn how to make sense of face masking as a protective practice and how to incorporate face masks into their everyday practices and routines. Face masking practices have become highly political. The USA has witnessed protests against face mask wearing that rest on ‘sovereign individualism’, a notion which is highly specific to the contemporary political climate in that country. Face masks have also been worn to make political statements: bearing anti-racist statements, for example, but also Trump campaign support. Meanwhile, celebrities and influencers have sought to advocate for face mask wearing as part of their branding, while art makers, museums, designers and novelty fashion manufacturers have identified the opportunity to profit from this sudden new market. Face masks have become a fashion item as well as a medical device: both a way of signifying the wearer’s individuality and beliefs and their ethical stance in relation to the need to protect their own and others’ health. The Face Mask in COVID Times: A Sociomaterial Analysis provides a short and accessible analysis of the sociomaterial dimensions of the face mask in the age of COVID-19. The book presents seven short chapters and an epilogue. We bring together sociomaterial theoretical perspectives with compelling examples from public health advice and campaigns, anti-mask activism as well as popular culture (news reports, blog posts, videos, online shopping sites, art works) to illustrate our theoretical points, and use Images to support our analysis.

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An up-to-date, accurate framework for credit analysis and decision making, from the experts at Standard & Poor's"In a world of increasing financial complexity and shorter time frames in which to assess the wealth or dearth of information, this book provides an invaluable and easily accessible guide of critical building blocks of credit analysis to all credit professionals." --Apea Koranteng, Global Head, Structured Capital Markets, ABN AMRO"The authors do a fine job of combining latest credit risk management theory and techniques with real-life examples and practical application. Whether a seasoned credit expert or a new student of credit, this is a must read book . . . a critical part of anyone's risk management library."--Mark T. Williams, Boston University, Finance and Economics Department"At a time when credit risk is managed in a way more and more akin to market risk, Fundamentals of Corporate Credit Analysis provides well-needed support, not only for credit analysts but also for practitioners, portfolio managers, CDO originators, and others who need to keep track of the creditworthiness of their fixed-income investments."--Alain Canac, Chief Risk Officer, CDC IXISFundamentals of Corporate Credit Analysis provides professionals with the knowledge they need to systematically determine the operating and financial strength of a specific borrower, understand credit risks inherent in a wide range of corporate debt instruments, and then rank the default risk of that borrower. Focusing on fundamental credit risk, cash flow modeling, debt structure analysis, and other important issues, and including separate chapters on country risks, industry risks, business risks, financial risks, and management, it guides the reader through every step of traditional fundamental credit analysis.In a dynamic corporate environment, credit analysts cannot rely solely on financial statistical analysis, credit prediction models, or bond and stock price movements. Instead, a corporate credit analysis must supply loan providers and investors with more information and detail than ever before. On top of its traditional objective of assessing a firm's capacity and willingness to pay its financial obligations in a timely manner, a worthy credit analysis is now expected to assess recovery prospects of specific financial obligations should a firm become insolvent.Fundamentals of Corporate Credit Analysis provides practitioners with the knowledge and tools they need to address these changing requirements. Drawing on the unmatched global resources and capabilities of Standard & Poor's, this valuable book organizes its guidelines into three distinct components: Part I: Corporate Credit Risk helps analysts identify all the essential risks related to a particular firm, and measure the firm through both a financial forecast and benchmarking with peers Part II: Credit Risk of Debt Instruments explains the impact of debt instruments and debt structures on a firm's recovery prospects should it become insolvent Part III: Measuring Credit Risk presents a scoring system to assess the capacity and willingness of a firm to repay its debt in a timely fashion and to evaluate recovery prospects in the event of financial distress In addition, a fourth component--Cases in Credit Analysis--examines seven real-life studies to provide examples of the book's theory and procedures in practice. Senior Standard & Poor's analysts explore diverse cases ranging from North and South America to Europe and the Pacific Rim, on topics covering mergers (AT&T-Comcast, MGM-Mirage, Kellogg-Keebler), foreign ownership in a merger (Air New Zealand-Ansett-Singapore Airlines), sovereign issues (Repsol-YPF), peer comparisons (U.S. forestry), and recovery analysis (Yell LBO). Industry "Keys to Success" are identified and analyzed in each cas

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Examine what would happen if we were to deploy blockchain technology at the sovereign level and use it to create a decentralized cashless economy. This book explains how finance and economics work today, and how the convergence of various technologies related to the financial sector can help us find solutions to problems, such as excessive debt creation, banks getting too big to fail, and shadow banking. The Blockchain Alternative offers sensible corrections to outdated and incorrect dogmas, such as the efficient markets hypothesis and rational expectations theory. You’ll also be introduced to universal basic income, the consequences of going cashless, why complexity economics needs to be understood and what kinds of tools and theories you'll need to redefine the existing definition of capitalism. While the book does discuss technologies and methods that are primed for our future, a number of references are made to economic history and the works of great thinkers from a different era. You’ll see how the blockchain can be used to deploy solutions that were devised in the past, but which can serve as the antidote to our current economic malaises. You'll discover that what is required today is not an adaptation of the old theories, but a new methodology that is suited to this new era. Without undertaking such an endeavor, one will always be burdened with a definition of capitalism that is out of kilter with the evolution of our digital humanity. What would this mean to monetary and fiscal policy, market structure and our current understanding of economics? More importantly would we need to change our current understanding of capitalism? And if we were to change our perceptions, what would the future version look like? This book answers these questions, and analyses some of the most pertinent issues of our generation. What You’ll Learn Examine fractional banking, debt, and the financialization of assets Gain a firm understanding of the “too big to fail” theory, smart contracts, and Fintech Review economics and agent-based modelling Use the blockchain and complexity economics to rethink economics and capitalistic systems Who This Book Is ForThe primary audience is bankers and other finance professionals, policy makers, and students of finance and economics. The secondary audience is anyone seeking a deeper understanding of the current financial system, the blockchain, and the future of capitalism.Praise for The Blockchain Alternative“…a bold and pioneering effort to make sense of how emerging digital technologies might be used to reshape public policies, including macroeconomic and social policies, in basic ways. Everyone interested in this very important emerging question should read this book."- Dr. Sanjay G. Reddy, Associate Professor of Economics at The New School for Social Research and Research Associate of the Initiative for Policy Dialogue at Columbia University.“Writing on blockchain today is analogous to writing about the internet, before it became massively distributed. The book pushes us to think about the quantum leap that this technology may infer to our capitalist model, if scaled at the pace described by the book. Written with the support of strong empirical models but also with an open mind towards the future, this is a must read for anyone interested in becoming part of the new economic infrastructure”- Dr. Mark Esposito, Harvard University’s Division of Continuing Education & Judge Business School, University of Cambridge“With a rigorously balanced dosage of versatility and rationale we are allured into a multifaceted trajectory across ingrained yet functionally arcane economic models, only to plunge into a conceptually revolutionary realm which irreversibly stimulates us into envisaging a fascinating novel scheme of world order”. - Ioana Surpateanu, Political Adviser to the European Parliament“If there is only one book that I am reading on how blockchain is going to change our lives, it will have to be "The Blockchain Alternative."- Dr. Terence Tse, Associate Professor of Finance, ESCP Europe Business School

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A sumptuous monograph presenting for the first time the extraordinarily imaginative and delightful work of visionary artist Renaldo Kuhler (American, 1931–2013). The Secret World of Renaldo Kuhler catapults a thrilling new discovery into the pantheon of the most accomplished visionary—or “outsider”—artists. Like Henry Darger, Howard Finster, George Widener, and Adolf Wölfli, Renaldo Kuhler was an exceptionally gifted artist and possessed an imagination all his own. By day Kuhler was a self-taught scientific illustrator under the employ of the North Carolina Museum of Natural Sciences, for which he created thousands of wonderfully precise illustrations of myriad natural history specimens—reptiles, fish, turtles, and the like. Renaldo Kuhler was an unusual individual, as was instantly clear from his appearance alone. Six-foot-four, with a white beard and ponytail, he wore a custom-tailored uniform consisting of a sleeveless Kelly green suit jacket with wide, black, notched lapels, epaulets, and brass buttons, a matching suit vest, yellow flannel dress shirt, a fleur-de-lis Boy Scout neckerchief, and tight-fitting knee-length shorts (“cotton-blend lederhosen”). However, unbeknownst even to family, friends, and coworkers, Kuhler was more than an eccentric, gifted scientific illustrator. He was a prolific visionary artist, who, as a teenager in the late 1940s, invented an imaginary country he named Rocaterrania—after Rockland County, New York, where he had lived as a child. For the next sixty years, in secret, he illustrated the nation’s entire history and the prominent characters of its populace. Rocaterrania is a fantastical world, a richly illustrated amalgam of Kuhler’s personal cultural and aesthetic fascinations. Situated just north of the Adirondacks in New York, at the Canada–United States border, Rocaterrania is a sovereign nation of immigrants, from Scandinavia to Eastern Europe. Kuhler invented a complete world populated by a royal family and a succession of leaders resembling historical Russian figures, Women reminiscent of Marlene Dietrich and Janet Leigh play important roles as do bearded men of a seeming Hasidic Jewish heritage, men bearing curious physical similarities to American presidents, and neutants—individuals neither male nor female. Amid forests, mountains, lakes, and rivers, Kuhler’s imaginary country is made up of provinces and cities filled with distinctive Rocaterranian architecture and well-planned railroad and metro systems. Its government is unique, and it has its own religion, Ojallism, and its own evolving language and alphabet. With an organized labor service, a prison system (modeled after a New Jersey state penitentiary), a university system, a Rocaterranian Olympics, and an independent movie industry, Rocaterrania is a nation bustling with dozens of characters and their intrigues. Initially meant to be an escape, Kuhler's Rocaterrania became a secret lifelong obsession, an intricately coded, metaphorical account through Rocaterrania’s tumultuous history, which dovetailed with Kuhler’s own struggles for independence and freedom. Renaldo was the son of the German-born industrial designer Otto Kuhler, renowned for his Art Deco–era streamlined trains; his Belgian mother had little patience for her son, who was ostracized and bullied throughout his life for being “different.” The Kuhler family moved in 1948 from Rockland County, New York, to a remote cattle ranch in the Colorado Rockies—an unbearably isolated environment for the teenaged Renaldo. Retreating to his sketchbooks, journals, and watercolors to invent his imaginary nation of Rocaterrania, young Kuhler wrote, “The ability to fantasize is the ability to survive.” The Secret World of Renaldo Kuhler is filled with more than 400 illustrations in pencil, ink, acrylic, oil, gouache, watercolor, colored pencils, and markers, demonstrating Kuhler’s phenomenal draftsmanship and wide range of style—from delicately shaded graphite works to comic-book ink drawings. Complementing Kuhler’s impressive artistry is his gift for analogical thinking, which flowered in his appropriation and reimagining of personalities, places, and events from world history to form a cohesive and fully imagined world. After decades of secrecy, Kuhler eventually first shared his work and the story of his imaginary country with filmmaker Brett Ingram, whom he met by chance in the mid-1990s. In 2009 Ingram released Rocaterrania, a feature-length documentary with prized footage of Kuhler at home and at work, and talking about his creation. With The Secret World of Renaldo Kuhler Ingram has written the complete story of Rocaterrania as relayed to him over time by Kuhler, resulting in a fascinating, highly entertaining first and major book about this rare, newly discovered, full-blown visionary outsider artist.

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ABLAZE is proud to present its bestselling line of UNCENSORED Robert E. Howard Cimmerian graphic novels, now available in a handsome slipcase box edition, collecting Volumes 1-4. Each Cimmerian volume contains two complete stories, plus bonus material, including the original prose stories, in one epic hardcover collection! VOLUME 1 - Featuring "QUEEN OF THE BLACK COAST" & "RED NAILS" QUEEN OF THE BLACK COAST - Conan seeks refuge on a merchant ship, after being pursued for killing a judge. But soon after setting sail, the Cimmerian and his new companions face a threat: the legendary Belit, self-proclaimed Queen of the Black Coast! Soon finding himself smitten by the lovely Belit, Conan agrees to joins up with her and her crew to brutally pillage and sail the poisonous river Zarkheba, encountering ancient ruins, lost treasure, and winged, vicious monstrosities! RED NAILS - Conan finds himself in the Darfar region, whose territory is almost entirely covered by a huge forest. Here Conan pledges himself a mercenary, promising his sword to the highest bidder, fighting alongside fellow mercenary and fierce female warrior Valeria. After a clash against a terrible dragon, the two go to a strange fortified city, apparently deserted...but the duo will quickly discover that a civilization lives hidden inside, and that the citadel hides a heavy secret. VOLUME 2 - Featuring "PEOPLE OF THE BLACK CIRCLE" & "THE FROST-GIANT'S DAUGHTER" PEOPE OF THE BLACK CIRCLE - The king has just died in the kingdom of Vendhya, struck down by the spells of the black prophets of Yimsha. The king’s sister, Yasmina, decides to avenge him…and contacts Conan, then chief of the Afghuli tribe. But several of Conan’s warriors have just been killed by the men of the kingdom of Vendhya, further complicating the matter. The princess thought she could use the Cimmerian, but rather it is she who will serve his interests... THE FROST-GIANT'S DAUGHTER - Conan, the only survivor of a ferocious battle, sits in the midst of a bloodstained snow field. When the fight is over, the Cimmerian suddenly finds himself overcome with deep weariness and disgust. Until the moment he meets a redheaded woman of supernatural beauty, blinding like the glow of the sun on the snow. Moved by a burning desire, Conan decides to follow her but finds himself caught in a trap, attacked by two titans. In his ardor, he was not suspicious…he did not imagine for a second that his bride was none other than Ymir's own daughter: the frost-giant! VOLUME 3 - Featuring "IRON SHADOWS IN THE MOON" & "THE MAN-EATERS OF ZAMBOULA" IRON SHADOWS IN THE MOON: A young woman in danger is pursued by her vile master. Conan, whose family has just been wiped out by this same master, puts an end to the beauty's pursuer, and saves her with a blow of his sword. Bound by fate, the couple decide to hit the road together. Their journey takes them to an island where they discover strange ruins inhabited by dark magic. Their paradise-like refuge soon turns into a suffocating nightmare where shadows lurk. Who knows the extent of the dangers that lie there? They will quickly learn that on an island, the biggest threat does not always come from the outside... THE MAN EATERS OF ZAMBOULA - The Cimmerian finds himself in the land of a thousand and one nights! A crossroads of beliefs, languages & cultures, the mythical trading city of Zamboula is also the scene of many dark legends. Upon paying the city a visit, Conan is warned of the dangers of Aram Baksh's home. It is said that most of the foreigners who stay there disappear under obscure circumstances...and it is precisely there that the Cimmerian is spending the night. But by lifting the veil on these mysterious cases of kidnappings, the Cimmerian will discover another secret, even more terrible, linked to the whole of the city of Zamboula... A story imbued with orientalism and macabre witchcraft, The Man-Eaters of Zamboula offers writer/artist Gess the opportunity to deliver his vision of Robert E. Howard's hero in a comic book story of exotic and dark beauty. VOLUME 4 - Featuring "BEYOND THE BLACK RIVER" & "HOUR OF THE DRAGON" BEYOND THE BLACK RIVER: The Picte country is an obscure jungle where the border between civilization and barbarism is thin. Only one thing symbolizes it: the Black River, which it is claimed that no white man was able to cross and come back alive. None, except Conan. It is in the heart of this green hell that the Cimmerian meets Balthus, a young voluntary peasant whom he saves at the last minute from the clutches of fierce Pictish warriors. Together, they will try to lend a hand to the colonists who have established themselves here, on these hostile lands, in the last bastion of civilization. With a dozen men, they will have to find the powerful sorcerer Zogar Sag before he succeeds in uniting the clans and initiating his bloody invasion… HOUR OF THE DRAGON: Under the funeral vaults of the mausoleum belonging to the ancient and cruel Emperor Xaltotun of Python, three men devoured by ambition come to offer to the inert body of the deceased sovereign the heart of Ahriman, a source of immor-tality which once belonged to him. Taken away at the cost of his life. In exchange for this offering, the three men claim a single thing: the world. However, there is only one person able to stand in their way, a Cimmerian who seized the throne of Aquilonia: Conan!

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In response to the Global Financial Crisis and the COVID-19 pandemic, central banks have used all available instruments in their monetary policy tool-kit to avoid financial market disruptions and a collapse in real economic activities. These actions have expanded the size of their balance sheets and altered the composition of the asset-side. This edited book highlights how these assets are managed, providing an intellectual and practical contribution to an under-researched field of central bank responsibilities. It first reviews the sources and uses of domestic and international assets and how they complement—or possibly conflict with—the implementation of monetary policy goals. Next, the book examines the asset management mandate in a balance sheet context before turning to the investment decision-making process from strategic and tactical asset allocation to investment strategies, risk management, governance, reporting and control. Finally, it presents new developments in the field of managing assets at central banks. The individual chapters are written by central bankers, academics, and representatives from International Financial Institutions, each representing a particular aspect of the asset management practice.Practical and powerful insights from a hall of fame of investors, central bankers and scholars, are packed into this one volume. If you could have only one book on central bank asset management, this would be it. —Peter R. Fisher, Clinical Professor, Tuck School of Business at DartmouthJacob Bjorheim draws on his long experience in sovereign asset management to pull together a rich collection of insights from a broad range of expertise. Asset management at central banks has evolved and expanded considerably over the past decade. This book is a timely source of information and guidance. —Guy Debelle, Deputy Governor, Reserve Bank of AustraliaCentral bank balance sheets have grown at a tremendous pace over the last decade and a half. Drawing on contributions from scholars and experienced central bankers from around the world, this timely and insightful book sheds light on how central banks are, and should be, managing their growing balance sheets. —Kjell G. Nyborg, Chaired Professor of Finance, University of Zurich, Author of Collateral Frameworks: The Open Secret of Central BanksCentral banks and monetary authorities are charged with, and being held accountable for, managing portfolios of foreign currency assets of unprecedented size. The essays in this admirable book, written by some of the worlds most highly experienced officials, cover the full range of why and how this is currently being done and how new developments are affecting old practices. Interesting conceptually and immensely useful practically. —William White, Senior Fellow at the C.D. Howe Institute, former Head of the Monetary and Economic Department with the Bank for International Settlements (BIS) and chairman of the Economic and Development Review Committee at the OECDAn excellent and timely review of modern international reserve management, which ought to be read by everyone working with, or simply interested in, international asset management and finance as well as monetary and economic policy. The spectrum of authors is broad and their combined insight is very valuable. —Tom A. Fearnley, Investment Director, Norwegian Ministry of FinanceWith “Asset Management at Central Banks and Monetary Authorities”, Jacob Bjorheim has achieved an editorial tour de force. The book assembles the insightful views of the leading experts in the field, both from an academic and practitioners’ perspective. It bridges the gap between the macroeconomics of central banks and the financial management of their reserves. A must read to understand how central banks are special in the group of institutional investors. —Eric Bouyé, Head of Asset Allocation and Quantitative Strategies, Treasury Department, The World BankThe balance sheet is a large and important toolbox for any central bank and specifically the foreign exchange reserves constitute one the more powerful of these tools. This book provides excellent insight in the various perspectives of managing reserves at a central bank. —Heidi Elmér, Director of Markets Department, Severiges RiksbankThe world of international reserves has changed since the global financial crisis. In this volume, Jacob Bjorheim has assembled a stellar cast of experts to explain how and what that means for reserves management. With chapter authors like Andrew Ang, Jennifer Johnson-Calari, Robert McCauley, Ravi Menon, Simon Potter and Philip Turner, it is a book that every reserve manager must read. —Eli Remolona, Professor of Finance and Director of Central Banking, Asia School of Business in collaboration with MIT SloanJacob Bjorheim has succeeded in bringing together a first-class team of experts, and organising their contributions in an articulated journey from the central banks’ policy mandate to their asset management practices. An indispensable post-crisis update of the subject and a a required reading for anyone professionally involved with central bank’s asset management, or simply curious about a topic benefitting otherwise from limited research. —Louis de Montpellier, Former Global Head, Official Institutions Group, SSGA, and former Deputy Head, Banking Department, Bank for International Settlements (BIS), BaselAt last, a book that shares with a wider audience, deep insight in a unique, challenging and ethical approach of asset management developed and implemented in the secretive world of central banks. If you wonder how to manage funds that stand ready for use at short notice in times of stress then this book is for you. Two features make it such a valuable read and a must-have reference: First, the very comprehensive list of themes covered from a rich diversity of angles. Second, the very impressive list of prominent institutions and authors that have contributed and shared their analysis and practical approaches of the issues presented. What is better than to get the information directly from first-hand practitioners, experts and managers themselves in their own words? —Jean-Pierre Matt, Former Head of Financial Analysis at the Bank for International Settlements (BIS) and founder of QuanteisThis book holds the promise to become the go-to guide for anyone wishing to learn more about the management of official foreign exchange reserves. Central bankers in particular, but also those providing services to central banks, will find benefit from the broad scope in subject matter and varied perspectives being presented. I am yet to see a compendium on official reserve management with similar reach in subject matter. —Leon Myburgh, Former Head Financial Markets Department, South African Reserve Bank (SARB), PretoriaThis is an immensely timely book at a time when central bank operations, and their balance sheets, remain “larger for longer”. Following the Financial Crisis 10 years ago, and with the Covid-19 Recession about to break, central bank balance sheets are at the forefront of the authorities’ response to economic issues as never before. Yet the management of their now large-scale assets remains a little known and little studied area. The authors of this book combine extensive technical and practical experience, and their observations will fill an important gap in the literature at a critical time. —Freyr Hermannsson, Former Head of Treasury, Central Bank of Iceland, Reykjavík

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