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When a company makes a bad investment and needs to reflect this in its accounts, it takes a write-down. The company usually does it as a one-off charge, with the hope of recovering from it in the next reporting period. This is basically what the Czech National Bank did on behalf of the country. All crown-denominated assets were written down by 5%, with the stated goal of producing higher economic growth next time. The country has been spending more than Kč 1 trillion per year, but without the desired effect. If the CR were a company, and if the CNB were its finance department, it would examine the outlays to determine where things went wrong. And lo and behold, it would find bad investments like the Blanka tunnel, ČEZ's foreign acquisitions and domestic divestitures, and all those overpriced IT projects. Yet nowhere in the CNB's explanation for the currency intervention do we find anything about the people who in effect forced the de valuation of the Czech crown by stealing the country blind.
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China’s $100,000 aid ‘measly,’ judged by its Phl mining take
Talk about fair-weather friend. “As hundreds of thousands of Filipinos struggled to find food, water, shelter and the bodies of loved ones in the wake of Typhoon Haiyan, China quickly dipped into its world-leading $3.7 trillion of currency reserves and came up with … all of $100,000.” That Bloomberg news lead captured the general recoil at how the world’s second-largest economy treats an Asian neighbor. Other headlines stated “cheapskate,” “paltry,” “miserly” and, in one mainland-Chinese daily, “ungenerous.”
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There's an elephant in the room that no one wants to talk about. The Czech National Bank took a very similar step last week to what is commonly referred to as "quantitative easing." The U.S., England, Japan and other countries have kept interest rates low and devalued their currencies by printing huge amounts of money to buy bonds. The CNB is now doing it by printing crowns to buy euros, to similar effect. Vice Gov. Mojmír Hampl told Týden in June 2011 that a central bank only "flips the nuclear switch" and undertakes quantitative easing when the situation is especially critical. He told Bloomberg in March 2013 that if the CNB engaged in currency intervention, it would only be for meeting its goal of price stability, not for making life easier for exporters. Now, though, the CNB cites export growth as a main reason for printing more crowns. The CNB has flipped the nuclear switch but doesn't want to admit it.
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They mistook doctors treating Milos Zeman's head with his knee?
http://www.fsfinalword.com/?page=archive&show=1&day=2013-11-04
Zeman speaks – but hides his face
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Motto: “True art emerges only from one´s own heart and in one´s own ways.“ František Kupka
The great success of this international exhibition will FOTOINFORMEL INTERNACIONAL extended until approximately the beginning of 2014 – congratulations.
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To the Commemoration of a Czechoslovak Hero - RNDr Air Marshall Karel Janoušek
30. 10. 1893, Přerov, Austro-Hungarian Empire - 27. 10. 1971, Prague, Czechoslovakia
On October 30th 2013 will be the 120th anniversary of the day a boy was born in the Moravian town of Přerov, who in future would be the pride of Czech nation and the whole of Czechoslovakia. His name was Karel Janoušek — the one and only citizen of Czechoslovakia, who was awarded the high British recognitions — by the Order of Knight of the Honourable Order of the Bath and to whom His Majesty the King George VI bestowed the rank of Air Vice Marshal first and, in May 1945, the rank of Air Marshal of the RAF.
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Similar, but Czech narration and German subtitles - Anti-Communist Rally of Czech Youth in Pratur - Anti-Bolshevik Rally of 20.000 Czech workers and farmers
Thousands of Czechs rally at a large mass meeting in the Lucerne Hall in Prague, early 1943. An opening address is delivered by Jaroslav Krejčí, chairman of the Czech government of Bohemia-Moravia, which is a Reich protectorate. Emil Hacha, Czech state president, is present. Emanuel Moravec, Czech Minister of Education and National Enlightenment, also speaks. He pledges the mobilization of the Czech people for Europe’s victory in the war. Karl-Hermann Frank, German SS General, also addresses the meeting. From the German “Descheg Monatsschau” newsreel No. 13 of March 1943. German narration.
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Czechs Pledge Loyalty to The Reich
Video - 1942
At a mass meeting in Prague, 200,000 Czechs pledge loyalty to their homeland and to the German Reich. This rally in Wenceslas Square, near the historic statute of St. Wenceslas, is on July 3, 1942 -- four weeks after the murder of Reinhard Heydrich, SS General and Deputy Reich Protector of Bohemia-Moravia.
Emanuel Moravec, Czech Minister of Education and National Enlightenment, addresses the crowd. He concludes with an expression of confidence in a better future for the Czech people, and of appreciation for the “new Europe,” the “National Socialist revolution,” “our leader, Adolf Hitler,” and “our state president, Dr. Hacha.”
Emil Hacha, Czech State President, is present, along with the Mayor of Prague and the mayors of many other cities and towns of the Protectorate of Bohemia-Moravia. The meeting concludes with the vast crowd singing the Czech national hymn. From a Czech newsreel report, July 1942. In Czech. No subtitles.
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9.13.2013 2:00 PM
Good afternoon. My name is John Nash and I am the youngest grandson of Jan Antonin Bata. My wife Jana has accompanied me on this trip. I wanted to point out that Jana was born right here in Partizanske and her family is from the nearby village of Solcany. We are grateful and happy that the truth about Jan Antonin Bata is finally being recognized and acknowledged. We want to thank the people of Partizanske for taking this step to honor Jan Bata today.
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Filmed by Bata in Zlin at a time when it was headed by Jan Antonin Bata. He was shown around the world. Nowhere is available in the entire length. Missing about 30 minutes?! What and who in the movie bothered that those 30 minutes must be kept secret today?
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