Category Archives: economic current event

THE RICH ACCOUNT DEPOSIT FUNDS DOMINATION IN INDONESIA BANK

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Agencies Deposit Insurance Corporation (DIC/LPS) to record up to December 2011 general bank account with a value of more than IDR 2 billion fund controlled 50.75 percent of deposits in banks in Indonesia.

Chairman of LPS/DIC Firdaus Djaelani said the accounts that have a value of more than IDR 2 billion is there as much as 136,890 accounts with total deposits reaching IDR 1.436, 45 trillion.

“Indeed, the number of accounts that only 0.13 percent of total accounts it holds half the savings banks. This is because the value of savings exceeds $ 2 billion,” said Firdaus in a meeting with members of the House Commission XI, Senayan, Jakarta, Wednesday (25 / 1) .

He further said, the public’s deposits at commercial banks with a value below IDR 2 billion recorded as many as 101 366 680 accounts with a value of deposits reached IDR 1393.87 billion. Then the total deposits in the banking community reached IDR 2830.32 billion as of December 2011, with the total number of accounts as many as 101 503 570 accounts.

EUROPEAN ECONOMIC CRISIS AND OFFER ASSISTANCE FROM CHINA

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Eurozone leaders have also agreed on the possibility of asking for help from outside the European and multilateral institutions. Some people are reluctant to ask for assistance to China, a developing country with the largest foreign exchange reserves.

Currently eurozone leaders are talking about the addition of a reserve fund amounting talagan 440 billion euros. These funds must be added if it is Italy that is now in crisis need a bailout.

One option to increase reserves of this bailout is to involve other countries outside Europe.

Developing countries that joined in the BRICs (Brazil, Russia, India, China, South Africa) have previously been willing to help solve the problem the euro zone. Is aid that can be published eurozone bond purchases by the BRICs countries.

China has expressed interest, but some countries are skeptical of China’s involvement.

Info at a Glance:

Brief History of DST

Benjamin Franklin first suggested Daylight Saving Time in 1784, but modern DST was not proposed until 1895 Pls an entomologist from New Zealand, George Vernon Hudson, Presented a proposal for a two-hour daylight saving shift to the Wellington Philosophical Society.

The conception of DST was Mainly credited to the Home builder, William Willett in 1905, he Pls Presented the idea to advance the clock During the summer months. His proposal was published two years later and introduced to the House of Commons in February 1908. The first Daylight Saving Bill was Examined by a select committee but was never made ​​into a law. It was not until World War I, in 1916, that DST was adopted and Implemented by Several countries in Europe WHO initially rejected the idea.

SAFE HAVEN INVESTMENT INSTRUMENT

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It’s name is just a safe haven, it means it is a protection or a safe refuge. Just as in a state of war or chaos, the citizens will flee to a place, where it is considered the most secure.

In the market, too, the term safe haven or safe assets often arise. This refers to the rush of investors toward investment instruments that are considered safe, especially in the current market turmoil.

In the past year, gold is considered a safe haven. This is due to the position of gold as a precious metal that the world demand, and supply rare and intrinsically valuable.

Gold is considered as an investment destination, whose value will be difficult to degenerate because of the uniqueness of this precious metal. Swiss francs, in the last three years is also considered as a safe haven, because the policy of the Swiss economy is very careful, strong exports, and debt position which is not harmful like its neighbors in the euro zone.

With a strong economic policy, Swiss francs or less the same with the German mark, which in the past has always been strong and prolonged stable. This is also due to economic policy and productivity of Germans are commendable, even though up to now plagued with fellow colleagues euro zone, such as Greece.

Now comes the position of the U.S. dollar as a safe haven. In the last 10 years the U.S. dollar exchange rate fell sharply against the various currencies of the world due to economic bankruptcy.

Olivier Blanchard, IMF senior economist, has warned that the state of the U.S. economy and the eurozone are now no better than in 2008.

Then why is the U.S. dollar, which also strengthened against the euro, is considered as a safe haven? The U.S. economy will continue to be burdened in the future debt payments. Rating agency Standard & Poor’s had already downgraded the long-term U.S. debt from AAA to AA +. That is, the risk on debt payments in the future the U.S. is no longer as strong as before.

Therefore, the position of the U.S. dollar as a safe haven is very dubious and not worthy of trust for granted.