(IRANIAN HISTORY) (1882-1967) Democratically elected Prime Minister of Iran from 1951 to 1953. Ousted by coup d'etat organized by MI-6 and the CIA after he nationalized the assets of the Anglo Iranian Oil Company (BP, p.l.c.).
Mossadegh was involved in the 1924 Constitutional Revolution that was supposed to have ended autocracy in Iran and replaced it with a democratic republic. Instead, Reza Khan (Shah Reza) replaced the Qejars as as monarch. Later, Mossadegh rose to power because of rising anger at colonial deal between AOIC and Iran. His nationalization of AOIC triggered a balance of payments crisis for the UK, and two years later he was ousted by Operation Ajax. After he was overthrown, Shah Muhammad Reza was a dictator, and dependent on the USA to remain in power.
Mossadegh was involved in the 1924 Constitutional Revolution that was supposed to have ended autocracy in Iran and replaced it with a democratic republic. Instead, Reza Khan (Shah Reza) replaced the Qejars as as monarch. Later, Mossadegh rose to power because of rising anger at colonial deal between AOIC and Iran. His nationalization of AOIC triggered a balance of payments crisis for the UK, and two years later he was ousted by Operation Ajax. After he was overthrown, Shah Muhammad Reza was a dictator, and dependent on the USA to remain in power.
Muhammad Mossadegh was a true Iranian patriot whose overthrow in a British Petroleum-instigated coup poisoned relations between the USA and the Islamic world.
by Abu Yahya July 19, 2010
(ECONOMICS) the annual increase in financial claims owed to the people of particular country, MINUS any increase of claims that same people owe abroad. The net annual increase in assets resulting from commerce with the rest of the world.
COMPONENTS
There are three components of current accounts:
(1) trade balance (surplus or deficit)
(2) foreign factor income (income minus outgo)
(3) net foreign aid
Usually the largest component of a current account surplus is the trade surplus, although in 1990 the USA actually had a quarterly current account surplus caused by massive "foreign aid" (actually, payments to defray the cost of waging the first Gulf War.
COMPONENTS
There are three components of current accounts:
(1) trade balance (surplus or deficit)
(2) foreign factor income (income minus outgo)
(3) net foreign aid
Usually the largest component of a current account surplus is the trade surplus, although in 1990 the USA actually had a quarterly current account surplus caused by massive "foreign aid" (actually, payments to defray the cost of waging the first Gulf War.
The South Korean won was lower late Tuesday as investor appetite for risk{y} assets was damped by broad-based losses in regional stock markets, led by a sharp fall in Chinese shares.
The local currency largely brushed off news that the country's current account surplus rose in May to a six-month high of $3.83 billion.
Traders said any positive impact from the current account data was offset by data showing the capital account balance... posted a net outflow of $11.96 billion in May, compared with a $8.56 billion inflow in April.
The local currency largely brushed off news that the country's current account surplus rose in May to a six-month high of $3.83 billion.
Traders said any positive impact from the current account data was offset by data showing the capital account balance... posted a net outflow of $11.96 billion in May, compared with a $8.56 billion inflow in April.
by Abu Yahya June 29, 2010
Money that (a) derives its value entirely from the mandate of the government, and (b) cannot be freely traded. Fiat money is not the same thing as floating currency, because if a floating currency is intrinsically worthless then its lack of worth will be reflected in the forex markets. Fiat money, on the other hand, does not require a disciplined monetary of fiscal policy on the part of the issuing authorities; exchange rates are fixed by decree, which means the state also controls supplies of hard (foreign) currency.
by abu yahya August 04, 2008
Te bell that rings to signal that trading has ended. An actual, literal moment of reckoning, when margin calls must be paid.
When the closing bell rang, he was ruined. All of his reserves were wiped out and he owed $6 million on margin.
by Abu Yahya May 05, 2010
(FINANCE) on a financial derivative, the price at which the final transaction occurs. For example, the strike price of a call option is the price at which the owner of the option may buy the underlying item. If a call option is for 100 bbls of WTI crude oil at a strike price of $85.75/bbl, and the spot price is $86.50, then the option is worth (86.50 - 85.75) x 100 bbls = $75.
by Abu Yahya April 05, 2010
In economics, a monetary policy in which the value of the local currency is determined by the foreign exchange markets, with some intervention by the government (or its allies) in the event of excessive or dangerous movements.
Usually the term is applied when the country ignores long term shifts in value, but intervenes directly to avoid crises.
Usually the term is applied when the country ignores long term shifts in value, but intervenes directly to avoid crises.
Most of the nations in the world have neither a hard peg nor floating currency, but something in between--a dirty float, in which trade is under some restrictions.
by abu yahya July 11, 2008
Latin, "thus"; used to indicate that an error in the original has been replicated in a quote.
When you're quoting someone else, and the original includes an error (spelling, fact, conception) it may be necessary to assure readers that (a) you noticed the error and (b) it is not yours, but that of the person you're quoting. Since it is a Latin expression, it needs to be italicized, and in the Urban Dictionary this means enclosing it in asterisks.
When you're quoting someone else, and the original includes an error (spelling, fact, conception) it may be necessary to assure readers that (a) you noticed the error and (b) it is not yours, but that of the person you're quoting. Since it is a Latin expression, it needs to be italicized, and in the Urban Dictionary this means enclosing it in asterisks.
His columns are full of brilliant insights such as this one:
"World War II erupted at Munich *sic* in 1941 *sic* because President Roosevelt *sic* was too weak-kneed to stand up to Hilter *sic*."
The man should not be allowed to go about unattended, let alone publish newspaper columns.
"World War II erupted at Munich *sic* in 1941 *sic* because President Roosevelt *sic* was too weak-kneed to stand up to Hilter *sic*."
The man should not be allowed to go about unattended, let alone publish newspaper columns.
by Abu Yahya March 08, 2009