Commodity Trading

Guillaume RISSE Take Home Exam: Basic commodity trading: 1) a) What drives exchange rates and why are they so volatile? The exchange rate between two currencies is the rate at which one currency will be exchanged for another one. As a consequence, the rates are " traded" and should reflect the equilibrium between the supply and the demand for the currency. On the supply side, we have mostly central banks. They the institutions whose goal is to determine and adjust the supply of currency, by putting in place monetary policy. Thus, the different monetary policies are very important drivers of the Foreign Exchange market. The initial aim a central bank is to control inflation for its currency zone and they can use many ways to do so. One major possibility is the adjustment of interest rate. A direct consequence is that interest rates (and inflation) are a major mover of exchange rates. This why, by using differential between interest rates from 2 countries, we can derive a naïve way to "price" the foreign exchange rate. This is the covered interest parity. With the emergence of electronic money, the supply of currency is quite controllable by the institution. So the volatility mainly comes from the demand side and demand in currency can be influenced by many factors. The first element is basic: it is the need to use a currency to purchase goods outside its local market. This is obvious with the current situation of US dollars that is used for mainly all the commodity traded around the world, even if the goods does not come from, neither go to the US. Another important point is the economic situation of the country emitting the currency. Although no more money are currently convertible to physical assets (like gold), a currency needs confidence from people and trading partners to maintain its value. This is why the public debt as well as the current account deficit are important indicators that can influence foreign exchange volatility. The last point is market psychology and how trading participants consider the currency compared to the others. It includes political turmoil, economic risk and factors that may affect the rate of a currency. A good current example is the Saoudi Ryial that, because of the drop of oil prices, has seen its forward exchange rate very much depreciated compared to spot market.

Guggul - an oleo-resin gum of immense medicinal value is tapped from a bushy shrub Commiphora wightii (Arnott) Bhandari distributed in semi-arid and rocky regions in Indian sub continent. C. wightii is an IUCN data deficient plant. Increase in the annual demand of guggul gum to the tune of 1000 metric ton, there is an increase in destructive tapping of C. wightii, which is a serious concern. Generally guggul gum from the site of its tapping to the site of processing or value addition being distantly far off, improper post harvest handling, storage and transport results in qualitative loss of its crucial bio-active compounds. Among the four containers (earthen clay pot, plastic jar, polythene bag and jute bag) evaluated for long term storage of guggul the earthen clay pot was the best in terms of Total Guggulsterone (TG) content. In earthen clay pot the TG of guggul gum was maintained over 1% for four months while Total Volatile Oils (TVO) 1% for nine months. In jute bag TG rapidly d...

Die Dummköpfe glauben, Wladimir Uljanow habe, nachdem er die Bedeutung der bäuerlichen Massen entdeckt und sie zuerst gegen den Zaren und dann gegen die Bourgeoisie aufgestachelt hätte, die alten Gleise verlassen und dem europäischen Proletariat klar gemacht, dass es, statt in der Eisenbahn des Klassenkampfes unterwegs zu sein, im Flugzeug reisen könne, wenn es sich mit dem Halbproletariat verbünde.
Doch Lenin wusste besser als wir, dass zur Erforschung der Bewegungen dieses sozialen Kräftestroms, der unerforschlichen Tiefen der Geschichte, das „Bathyskaph" bestiegen werden muss, wobei sich im Übrigem noch gewisse Überreste dieser Formen in den Weiten der Kontinente verbergen, welche sich der expandierende Kapitalismus bislang nicht zu unterwerfen vermochte.
Der Verzicht des reifen europäischen Proletariats auf seine Avantgarde-Funktion und die Tatsache, nicht eifersüchtig seine völlige Unabhängigkeit von „mittelmäßigen" Positionen hinsichtlich seiner Theorie und Organisation gehütet zu haben, ist allzu teuer bezahlt worden
Die heutige Bewegung, die, vor unser Haustür, eine wahrhafte Volksbewegung ist, erregt ebenso wahrhaften Abscheu wie, wohl mehr noch, wahrhaftes Mitleid.

This study reviews futures contracts on a contract design approach basis. Drawing from the literature and using indicative empirics, it assesses the futures contract specifications that would enable success once the recently re-launched commodity exchange of Zombabwe (Comez) begins trading. The study highlights a primary point that while the commodity characteristics may be suitable, coupled with a very strong and supportive economic and policy environment, failure to design appropriate futures contracts may result in poor participation by market participants thereby rendering the exchange untenable.

We conduct tests for the presence of low-dimensional chaotic structure in the futures prices of four important agricultural commodities. Though there is strong evidence of non-linear dependence, the evidence suggests that there is no long-lasting chaotic structure. The dimension estimates for the commodity futures series are generally much higher than would be for low dimension chaotic series. Our test results indicate that autoregressive conditional heteroskedasticity (ARCH)-type processes, with controls for seasonality and contract-maturity effects, explain much of the non-linearity in the data. We make a case that employing seasonally adjusted price series is important in obtaining robust results via some of the existing tests for chaotic structure. Finally, maximum likelihood methodologies, that are robust to the non-linear dynamics, lend strong support to the Samuelson hypothesis of maturity effects in futures price changes.

This chapter presents a comparative historical analysis of the process of labour commodification during the rubber boom period in Western Amazonia and the Congo Free State. Its primary objective is to address the debate on the expansion of commodity frontiers and its social repercussions on native peoples. Therefore, we look at the changes and continuities in social and labour relations in both regions in regard to their colonial background and neo-colonial context, so as to demonstrate that the commodification of rubber prompted the commodification of indigenous workforce, by focusing on the practices of enslavement by debt and enslavement by tax. Ultimately, we hope to shed some light on the coloniality and violent repercussions that have underlaid the expansion of capitalism and globalisation in the Amazonian and Congo regions to this day.

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In my encounters in the field, I realized that the mono-disciplinary (Economics) solution for current problems of Vietnamese coffee industry seems not work well. Then understanding of history becomes the key to valuate and work out an exit for the region, as the leading Vietnamese economic historian Dang Phong  has found in his discussion of economic transformation in Vietnam.
The local knowledge accumulated in the period of the successful export of Vietnamese coffee in 1990s seems to be in question since we are now in the “risk society” (Beck 1986, 1992) which means risk distribution is not limited in any separate nations or industries but all people through globally financial institutions and international relations. The implication of globalization also changes society lives, the interaction and communication process. In this situation, we may be confident in “abstract systems” like the effectiveness of banking systems (Giddens 2006) or of the network of coffee agents in the Central Highlands of Vietnam.
In the current condition, the “advanced” Brazilian model providing credit and managing price risk is considered to be a valuable source of inspiration in making policy for Vietnamese coffee industry. To successful implement the self-sustaining model, it requires all the stakeholders, especially the State, believe in implementing with 100% of conviction and participation (“social capital”) (Putnam 1993).

The aim of the article is to model a new formula that can calculate price corridor using the linear regression and standard deviation instead of the moving average. The research will check the possible application of the linear regression into the place of the standard moving average. The application of the linear regression instead of moving average and Bollinger Bands could give a better and closer estimated data about price trend, due to the mathematical nature of the linear regression that uses squares from variables instead of the normal arithmetical mean. The application of the linear regression could create a good analytical background for investors to omit jigsaws, bear and bull traps. Research question: How does the linear regression could improve predicting the price movement in the foreign exchange market?

The book is addressed to professional traders, investors, and economists that would like to explore new possibilities in financial market trend analysis. The book elaborates on Complex Technical Analysis that bases on compound analysis of assets where standard technical analysis tools as Moving Average are influenced by more variables than the price of the single asset. The book delivers a new way of creating technical indicators and presents some of the new technical analysis tools as General Trend Indicator or Options Arbitrage Index.
Furthermore, the paper describes potential modifications for all of the existing technical analysis indicators focusing on new types of Moving Average – XMA and a new type of Relative Strength Index – XRSI that present enormous potential for application in trading and investing allowing to personalize both of the indicators.
What is more, the complex technical analysis theory, presented in the book, allows an investor to modify all of the technical tools he or she uses to reach more personalized goals. The modifications of standard technical analysis tools allow for the faster indication of buy/sell signals at once with fewer jigsaws creation. The presented modifications in RSI and Moving Averages enable using technical analysis in bigger scale examination of price trends, analyzing one particular economic sector, a country economy or even whole global economy patterns.
One of the most important new technical indicator introduced by the book the GTI - General Trend Indicator tracks the oversold and overbought levels in commodities, stocks, indices, bonds and currencies in the variety of scales, from one asset till global market analysis. The next indicator – The Arbitrage Index is the first technical indicator designed for Options trading that creates arbitrage in and out points, where options trading is profitable.
In outline, by introducing new technical indicators, the book focuses on a new way of creating technical analysis tools, and new applications for the technical analysis that goes beyond the single asset price trend examination.

The study has attempted to evaluate the "investor"s awareness level and factors considered for investment in commodity markets. The study has designed three objectives, namely, to describe the demographic variables of investors, evaluated the association between demographic variables and awareness level of investors and the factors determining the investor's decision to invest in commodity markets in India. The data were collected from both primary and secondary sources. The data were collected through a structured questionnaire of 101 individual respondents. Further, secondary data were collected from books, periodicals, magazines; etc. Chi-square test was used for data analysis. The study found that majority of the investor fall in the age group 18-25 and is graduated. Mostly the respondents were male and the majority of respondent"s income was less than twenty thousand. The study suggested providing an awareness program to potential investors for creating awareness. There is a need to create awareness among different sets of investors in relation to a commodity market. The study suggests that the people who are least qualified can be informed the benefits of investments.

KNF Warszawa 13.09.2018, CEDUR (Centrum Edukacji dla Uczestników Rynku), Seminarium pt. "Towarowe instrumenty pochodne po implementacji MIFID II".

Celem seminarium było przybliżenie szczegółowych zagadnień, ocenianych przez uczestników rynku kapitałowego w obszarze towarowym, jako szczególnie problematyczne po implementacji przez Polskę dyrektywy MiFID II. Przedmiotem seminarium było również zapoznanie uczestników rynku  z tymi obszarami nowych rozwiązań prawnych wdrożonych w ramach implementacji MiFID II, które dopiero w przyszłości będą w Polsce obowiązywały (limity pozycji dla towarowych instrumentów pochodnych). 

URL: https://www.knf.gov.pl/knf/pl/komponenty/img/Prezentacja%20CEDUR%2013-09-2018%20Towarowe%20instrumenty%20pochodne_63699.pdf

Modern conservationism and natural resource management (NRM) can be portrayed as contemporary forms of fetishism, of using or not using certain biological species; these articulate with indigenous ideas or "traditional" fetishisms, which hold that these species control human beings_ With their shared mechanistic worldview, the global discourses of conservation biology (CB) and natural resource management have promoted the rational use of key material resources among the Yami fetishisms, under the influences of ever-expanding global commodification and conservationism, have become a hybrid that expresses contested worldviews and social relations between genders and across generations. Through the introduction of new commodities and modern projects, young men and poor women gain access to the means to challenge traditional ideas or rituals about indigenous species. Many indigenous species, already powerful elements in Yami epistemology, have acquired new meanings under Taiwan's national capitalist agenda. Borrowed modern techniques have proved useful in local fetishist practices against spirits of the dead, but are not fully in sync with the ecological concerns of conservationists. Furthermore, the transition of Yami fetish species from traditional "sensuous beings" to scientific species has meant that they have gone through a dual conversion, first from a vehicle of the human Otherland engagement to modern market commodity; then, from materialist inventory to the object of scarcity tracking. In this sense, natural species constitute a busy conjuncture of the materialist imaginary through which the Yami have experienced modernity.

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If the adoption of Islam in Africa was largely a result of trade networks, it should be added that Egypt has always held a key position in this geographical scene as an overland route. The Nile/Red Sea Corridor as a physical feature is possessing a degree of cultural homogeneity expressed in urban context. While much scholarly work has been devoted to " cultural encounters " in the Mediterranean ports, much remains to be said about Upper Egypt and the Red Sea, at the heart of the Islamic world, where cities were and still ports for pilgrimage and trading cross via the Red Sea to Arabia. Non-Muslim ships were allowed to stop only at Quseir harbour, connected by a caravan route to the Nile that was the way to travel northwards and reach the river ports. After Napoleon Expedition (1798), in Mohamed Ali's rule a number of large-scale geographical project (fairy route and several proposals of Canal construction) were undertaken to establish the " overland route " across the Delta. In particular, we shall focus on a number of cities (Alexandria, Cairo, Suez, Quseir), trying to identify the correspondences between transit point along the trade routes and the related urban structure. This topic lies in the possible effects of the New Canal de Suez Project on the cities' present status and the economic trade connection. Based on previous and ongoing research (note S. Boca, M. Al Gammal), our contribution aims at clarifying how the geography of settlement in Egypt is deeply linked to the trade networks mentioned above and transit points.

In our days the demand for sea transport is in great importance. The commodities that are transported have many differences on the type and on the groups that they divided into.

Below there will be a presentation of the demand in our days for the sea transport and how this demand can be examined as a direct or not. The below project is separated into four (4), in my opinion, chapters and each one has divided into sub-chapters, so as to be understood that all the chapters are connected each other. The terms that examined in my project are all linked to the today's and tomorrow's phase of the shipping market and are all updated. However, it is well mentioned that the structure of the shipping market hasn't changed more, since their first steps after the World War II, when the demand for sea transport was in her maximum level. Since then, the commodities are traded in almost the same rhythm with differences in the types of goods and the number of the consumers, which now is more.

Begging from the first chapter, I make a presentation of the nature of transport demand. It is a part that cannot be examined correctly, if we neglect the fact that it is very important and vital term in our daily life. Of course, we have to consider the factors that affect the product's service, which are all connected each other and these are the price, the speed, the reliability and the security. They are also important the factors that determine the demand for the specific product. These are the tastes of the consumers, the number of consumers, the consumers' incomes, the prices of the related goods and finally the expectations of the consumers about future prices and incomes. In this part of presentation, I have to say that all the factors are not same and they are factors that can be settled as direct and indirect. The direct ones, are the speed, the safety, the reliability and the freight market. On the other hand, the indirect are all the factors that affect the demand or supply in the product's market.

Continuing my presentation, in the second chapter I am doing a report about the commodities that are traded by sea and their groups. This is a very extensive chapter, due to the fact that they exist, and so they are traded, many types of many commodities. These are divided into some groups so as to be easily accessed and examined each time. So, the commodities that are traded are collected from the Agricultural family, the Metal industry group, the forest products, the energy sector and other manufacturers and industrial materials. In today's shipping market, they are traded many types and many groups of different commodities. From bulk grain to ores and minerals. All these types of goods have not a common type of transportation and stowage, and that's why they are not available in the same time and price from other products. This division created the need for being categorized in bulk cargo and general cargo. Another type of goods being transported is the dangerous goods. In this category they belong specific commodities, which are all identified and selected from the IMO (International Maritime Organization), and divided into nine (9) classes depending on the dangerous level they belong to. The IMO also makes frequent revisions in the classes and in the types of stowage and handling with care of these goods.

In the third chapter, I make a review to the world economy in connection to the demand for sea transport. The aim of this chapter is to locate and explain the main terms that compose the meaning of demand. These are all connected and co-exist in the world economy. Terms like the freight rate market, the types of freight that exist, the Parcel Size Distribution Function (PSDF) are all relevant to the understanding of the demand for sea transport. In the presentation of the PSDF, there is also a sub-chapter explaining the purpose of this function, which is important too, including the factors that affect the shape of the PSDF.

Ending, in the fourth chapter, I selected to present all the costs that compose the transportation of the commodities demanded, from one place to another. The expenses arising from the transport of the goods, can be examined and divided into two main parts. The maritime transport costs and the overland transport costs. In the first case, the costs are al the expenses demanded for the safely transportation of the goods by sea. This include wages for the crew, fuel consumption, indemnity charges, perils, fees and port dues, operating costs, repairs and maintenance costs. The second part of costs are the overland costs and they are the expenses from the time the goods leave the ship till the time they arrive in the final destination, which is the consumers. In this case, we find costs for the warehouses, wages for the workmen, expenses arising from the operation of the railway or any other transport system the port has, the use of FLTs and many others.

The purpose of this paper was to examine the role of Ethiopia Commodity Exchange in stimulating agricultural commodity exports with the case of export coffee. A structured questionnaire was prepared to collect data. The data were analysed using descriptive statistics, correlation & regression. The findings of descriptive statistics of the independent variables showed that facilitation of physical trade dimension scored the highest rating with a mean value of 3.83 while the storage and grading dimension scored the least mean value of 2.86. The correlation analysis results indicated that facilitation of physical trade had a significant correlation with the export performance and the remaining variables' result indicated that they were moderately correlated with export performance. Regression analysis was conducted, and the result indicated that storage and grading, market information provision and market development dimensions of ECX's roles had a significant positive influence on export performance of coffee exporters.

A methodology to create statistical arbitrage in stock Index S&P500 is presented. A synthetic asset based on the cointegration relationship of the stocks with Index was constructed. In order to capture the dynamic of the market time adaptive algorithms have been developed and discussed. The pair trading strategy was applied in different periods between S&P500 and synthetic asset and the results were evaluated. Different metrics have shown that the Multvariate Kalman Algorithm creates statistical arbitrage in index with much lower Maximum Drawdown and higher profit. The algorithm is neutral as the beta is close to zero and the Sharp Ratio remains high in all cases.

In this article we analyse Fair Trade as a form of non-state regulation, building on the literature on the internal politics and governance of Fair Trade International (FTI) certification. We focus on recent developments in the FTI certification system, including the split of Fair Trade USA from FTI and the emergence of the Small Producer’s Symbol (SPP) as an alternative to FTI certification. We highlight the role of the three regional Producer Networks, in particular the Latin American Producer Network, the CLAC, in the politics and governance of the FTI system. In order to analyse these issues we employ an alternative reading of Karl Polanyi’s work in relation to Fair Trade. We problematise the claim made by some in the literature that FTI certification is an example of Polanyi’s concept of re-embedding. Instead, we draw on Polanyi’s concept of oversight to analyse Fair Trade certification. We argue that the emergence of the SPP out of the CLAC shows promise for being a mechanism of oversight more reflective of Polanyian re-embedding than FTI certification. We also emphasise how the growth of the SPP and the pressure from the Producer Networks have prompted governance reform within the FTI system.

A brief introduction to the history and political economy of sugar "Sugar has always been central to industry and empire, and has transformed global economic history. Slave driven sugar mills of the seventeenth century were one of the earliest factories. But the history of sugar predates these modern developments. It is a history that witnesses the transformation of an unassuming plant into a global commodity. For most of its existence, sugar in the human diet was a luxury that came in the form of sucrose extracted from sugar cane.

Purposes of this research are to determine some characteristics of distribution channel, market structure, and price maker transmission in purebred chicken egg commodity in Banyumas District, Central Java Province. Primary data applied on this research is from all channel distribution levels; from producers to final consumers. Meanwhile secondary data is collected from government official sources, such as BPS-Statistic of Banyumas Disrict, Banyumas Department of Industry, Trading and Cooperation, and previous researches which has been made by researcher team. Sample determining is directed by proportional random sampling methods. Some measurements are applied to this research, including to; Herfindahl Index (HI), Concentration Ratio (CF), and Minimum Efficiency Scale (MES) to investigate market structure; and Asymmetric Price Transmission (APT) to determine price transmission mechanism model. This research finds that (1) the distribution channel of egg commodity is spitted to different channel, the first channel: egg producer – retail traders – final consumers, and second channel: egg producers – whole seller – retail traders – final consumers; (2) market structure which is created to this farming specific commodity is perfect market; (3) price transmission mechanism analysis statistically shows that there is almost no existence of dominant power in price formation.

Against the well-established fact that the usefulness and suitability of futures trading in developing the underlying agricultural commodity market, especially in agriculture based country like India are been questioned by various bodies. Through this work it has been analysing the role of futures trading on agricultural commodities. The effect of futures trading may be of two kinds, that is by way of hedging the price risk and the other way is through price discovery. The data collected for the analysis are the daily price history of spot and futures of five major agricultural commodities (Castor Seed, Chana, Chilli, Jeera, and Wheat) for a period of 7 years started from 2007 to 2014.  Here it is revalidated the relationship between price movements of agricultural commodity futures and underlying spot prices by applying econometric analysis tools like Unit Root Test, and Engel-Granger test of Cointegration. The empirical findings proved that an existence of interrelationship between futures price movement and respective underlying spot prices in Indian agricultural commodity market.

Ein bedeutender Teil des Welthandels wird nicht zwischen Export- und Importländern abgewickelt, sondern über Firmen in Drittstaaten. Man nennt das Transithandel. Am Beispiel der Schweiz, über die heute ein Fünftel des weltweiten Rohstoffhandels läuft, ohne dass diese Waren je Schweizer Boden berühren, zeige ich, wie sich seit Mitte des 19. Jahrhunderts zentrale Techniken und Institutionen der Globalisierung herausbildeten: von Terminbörsen über internationale Schiedsgerichte bis hin zu Steuerprivilegien für multinationale Konzerne.

Rezensionen und Interviews:

- «Schweizer Händler dirigierten Waren rund um die Erde». Rezension von Jürgen Osterhammel, in: NZZ vom 13. Juni 2019, S. 44, https://www.nzz.ch/feuilleton/transithandel-lea-haller-zeigt-kaufleute-als-globale-akteure-ld.1488120.
- «Wie die Schweiz zur Weltmacht wurde». Rezension von Andreas Tobler, in: TagesAnzeiger vom 11. Mai 2019, https://www.tagesanzeiger.ch/kultur/buecher/wie-die-schweiz-zur-weltmacht-wurde/story/16229562.
- «Die unsichtbare Branche». Interview mit Tim Rüdiger, in: WoZ Nr. 20, 16. Mi 2019, S. 7, https://www.woz.ch/-9b6f.
- «Transithandel, helvetisch». Rezension von Friedrich Lenger, in: Soziopolis, https://www.soziopolis.de/lesen/buecher/artikel/transithandel-helvetisch.
- «Eine unsichtbare Branche». Rezension von Alexis Schwarzenbach, in: NZZ am Sonntag vom 30. Juni 2019, Bücher am Sonntag, S. 20, https://nzzas.nzz.ch/kultur/transithandel-ein-buch-ueber-eine-unsichtbare-branche-ld.1492632?reduced=true.
- «Sicher ist nur die Unsicherheit». Rezension von Thomas Speckmann, in: Tagesspiegel vom 7. August 2019, S. 21, https://www.tagesspiegel.de/kultur/literatur/das-weltweite-wirtschaftssystem-im-wandel-sicher-ist-nur-die-unsicherheit/24875962.html.
- Rezension von Philipp Müller, in: H-Soz-Kult, 17.9.2019, https://www.hsozkult.de/publicationreview/id/reb-28623.

Two different trading accounts were made in Stocktrack.com software trading simulation for the purpose of the Financial derivatives (FD) module. One was ‘buy and hold’ (where you bought FD for three months) the second was ‘trading’ (where you traded different FD on daily basis). On both we had to write reports of what methods – approaches we used on trading and choosing by also writing blog about it.

Tentu kita semua sudah tahu kalau saham adalah salah satu pilihan investasi yang memberikan keuntungan yang besar (high return). Keuntungannya diberikan dalam bentuk capital gain maupun dividen. Memang dari segi keuntungan, saham merupakan investasi yang menggiurkan. Namun, di balik keuntungan tersebut tersimpan risiko capital loss. Tentunya investasi saham sangat berbeda dengan instrumen investasi lainnya, seperti properti, tabungan berjangka, deposito, emas, obligasi, ataupun reksa dana. Tiap-tiap investasi memiliki kelebihan dan kekurangan masing-masing. Namun, di antara beragam instrumen investasi tersebut, yang memberikan untung besar dalam waktu relatif singkat adalah investasi saham. Pentingnya Memahami Pergerakan Saham Bagi Anda yang ingin berinvestasi saham, hal pertama yang harus dilakukan adalah memahami saham dengan membaca pergerakan saham secara keseluruhan yang disebut dengan indeks. Di Indonesia ada banyak sekali saham yang ditawarkan. Akan tetapi, tidak semua saham tersebut layak dibeli. Terkait dengan pemilihan saham, banyak analis yang menyarankan agar memilih saham-saham yang mengisi indeks yang bagus. Alasannya cukup jelas. Sebab kita bisa memilih berbagai macam saham yang cukup baik dengan berbagai macam kriteria pada indeks-indeks tersebut.

Star Wars is a multigenerational saga. To look at it from a certain perspective brings with it the nostalgia as everyone who was born in the 70s or 80s has a personal history with Star Wars. However, it is no coincidence that the franchise made it this far, both globally and temporally. Precise strategies have been used throughout its marketing. I took on this project to examine these strategies. This study has three objectives: First, it examines Star Wars as a form of transmedia storytelling and its effect to create global culture, and; second, it focuses on internet memes and their global production and circulation. Lastly, it dissects the marketing strategy for merchandise behind the highly new and popular character "Baby Yoda". While researching, I used marketing and transmedia literature and market research. This research finds that marketing techniques for The Mandalorian (2019-) are linked with nostalgia, that global memes are used for marketing as well, but also that global mélange is on the horizon. I will then conclude by discussing my findings which include how nostalgia marketing is used in Star Wars universe and why this universe keeps expanding. It is very timely that media recently relies heavily on nostalgia marketing.

El objetivo de este libro es enseñar cuales son los pasos idóneos para acortar el largo camino que supone "vivir del trading".
De buena fe, pienso que cada uno de los capítulos del libro suponen una rama, y que unidos crean un "todo", un grueso tronco y una buena base que va a suponer "un buen trading". Así que aconsejo al lector leer y eleer muy bien cada uno de los capítulos.

Apakah Anda sering berganti-ganti strategi trading? Atau mungkin Anda sering (bahkan selalu) mengutak-atik strategi yang sedang Anda pergunakan tetapi tetap saja tidak bisa menemukan sistem trading yang “sempurna”? Tetapi bagaimanakah caranya mengetahui bahwa strategi-strategi itu benar-benar bisa bekerja? Simak lebih lengkap ulasan kami di FOREXimf Magz edisi kali ini, selain itu dapatkan strategi trading yang bisa Anda pelajari dan manfaatkan untuk transaksi yang Anda lakukan serta perkembangan serta peluang yang terjadi di pasar yang sedang berkembang saat ini.

The study has attempted to evaluate the "investor"s awareness level and factors considered for investment in commodity markets. The study has designed three objectives, namely, to describe the demographic variables of investors, evaluated the association between demographic variables and awareness level of investors and the factors determining the investor's decision to invest in commodity markets in India. The data were collected from both primary and secondary sources. The data were collected through a structured questionnaire of 101 individual respondents. Further, secondary data were collected from books, periodicals, magazines; etc. Chi-square test was used for data analysis. The study found that majority of the investor fall in the age group 18-25 and is graduated. Mostly the respondents were male and the majority of respondent"s income was less than twenty thousand. The study suggested providing an awareness program to potential investors for creating awareness. There is a need to create awareness among different sets of investors in relation to a commodity market. The study suggests that the people who are least qualified can be informed the benefits of investments.

Bitcoin is promoted as an alternative to currency, and even at times as an alternative to money, but neither Bitcoin’s development nor its promulgation emerge from thoughtful analyses of money or currency as they currently exist, let alone the thought and history that have figured in their development. The grounding problems that Bitcoin advocates consider central are not the ones that major thinkers about money or currency, from the Right or the Left, have deemed important. On the contrary, those grounding problems are largely ideological: the desire to bypass the (apparently lawful) credit card and PayPal “blockade” of WikiLeaks, on the one hand (usually mentioned as the instigating event in the widespread use of Bitcoin), and the desire to bypass central and/or commercial banks for either the creation of money (as many of the more rabid advocates insist) or the provision of financial services (the main interest of Satoshi Nakamoto’s original Bitcoin paper), on the other. The former ideas emerge from a libertarian, anti-state politics familiar from much of the WikiLeaks story. The latter ideas emerge from the profoundly ideological and overtly conspiratorial anti-Central Bank rhetoric propagated by the extremist Right in the US, and which despite its overt “anti-bank” rhetoric, on most thoughtful analysis, serves rather than resists the interests of banks and big finance (much as despite its anti-bank rhetoric, Bitcoin itself is now promoted by banks, investors, and venture capitalists). Scholars of money like Mary Mellor and Ann Pettifor have suggested meaningful alternatives to the current money system, but Bitcoin has very little in common with their proposals, which would require societal assent as well as technical innovation. The lack of any thorough, non-conspiratorial analysis of existing financial systems means that Bitcoin fails to embody any true alternative to them. The reasons for this have little to do with technology and everything to do with the existing systems in which Bitcoin and all other cryptocurrencies are embedded, systems that instantiate the forms of social power that cannot be eliminated through either wishful thinking or technical or even political evasion: the rich and powerful will not become poor and powerless simply because other people decide to operate alternate economies of exchange. Lacking a robust account of transforming these systems of power, even without Bitcoin’s flaws, a “perfect” cryptocurrency would exacerbate, rather than address, the existing serious problems with our monetary and financial systems. Because it operates without such an account, Bitcoin’s real utility and purpose (and that of the cryptocurrency movement in general) can be better understood as a “program” for recruiting uninformed citizens into a neoliberal anti-government politics, understanding the nature and effects of which requires just the attention to political theory and history that Bitcoin enthusiasts rail against.

Zeuske, Michael; Conermann, Stephan, “The Slavery / Capitalism Debate Global: From “Capitalism and Slavery” to Slavery as Capitalism. Introduction”, in: Comparativ. Zeitschrift für Globalgeschichte und vergleichende Gesellschaftsforschung Vol. 30:5/6 (2020), pp. 448-463.
That is the introduction to Comparativ 5/6 (2020); Title: "The Slavery / Capitalism Debate Global ...".
Main focus: historicization of "capitalism" (a rough container word) on the accumulation of "capital of human bodies" as well as analysis of societies of the second slavery as such of an independent slavery capitalism with its own industrial revolutions.
Das ist die Einführung in das Comparativ-Heft 5/6 (2020); Titel: "The Slavery/ Capitalism Debate Global ...". Schwerpunkte: Historisierung des "Kapitalismus" (ein grobes Containerwort) auf Akkumulation von "Kapital menschlicher Körper" sowie Analyse von Gesellschaften der Second Slavery als solche eines eigenständigen Sklaverei-Kapitalismus mit eigenen industriellen Revolutionen.
Esa es la introducción a la revista Comparativ 5/6 (2020); Título: "The Slavery / Capitalism Debate Global ...".
Enfoque principal: historización del "capitalismo" (una palabra contenedor muy gruesa) sobre la acumulación de "capital de cuerpos humanos", así como el análisis de las sociedades de la segunda esclavitud (second slavery) como tal de un capitalismo esclavista independiente con sus propias revoluciones industriales.

Analisa teknikal bisa sangat bermanfaat bagi trader seperti kita untuk bisa “mengalahkan” (tentu saja dalam tanda kutip) pasar. Bagaimana caranya? Ini dia 11 rahasia dalam analisa teknikal yang bisa membantu Anda meningkatkan skill analisa teknikal Anda sebagai seorang trader. Simak lebih lengkap ulasan kami di FOREXimf Magz edisi kali ini, selain itu dapatkan strategi trading yang bisa Anda pelajari dan manfaatkan untuk transaksi yang Anda lakukan serta perkembangan serta peluang yang terjadi di pasar yang sedang berkembang saat ini.

Anda mungkin sering mendengar istilah “risk to reward ratio”, Terkadang anda sering mendengar risk to reward ratio 1:1, terkadang 1:2. Pertanyaannya kemudian adalah berapa perbandingan risk to reward ratio yang tepat untuk Anda? Sementara kabar dari pasar saat ini pelaku pasar sedang menunggu hasil akhir keputusan the fed tentang suku bunga, bagaimana outlook dan pengaruhnya terhadap nilai tukar mata uang utama ? Simak lebih lengkap ulasan kami di FOREXimf Magz edisi kali ini, selain itu dapatkan strategi trading yang bisa anda pelajari dan manfaatkan untuk transaksi yang anda lakukan.

Silver commonly referred as "the poor man's gold,"has outperformed its pricey counterpart ‘gold’ in the year 2011, a trend that made silver-related equities an attractive option for investors looking to diversify their portfolios. Due to ever-growing domestic demand and domestic supply meets only 30% requirements, India is importing silver. A sample of 100 investors is taken from total population of 205 silver traders for a period of 6 years from 2005 to 2010 through “Convenience Sampling” on the basis of transactions and past records. The data analyzed by using statistical tools and is diagrammatically shown with the help of pie charts and bar diagrams. The conclusions are based on perception and trends of investors. To support the primary data secondary data also be collected. The research mainly focused on silver commodity trading, various trends in silver trading, investors’ perception and problems faced by the investors towards trading.

Sobat traders, ada begitu banyak cara trading emas yang bisa di terapkan untuk meraih hasil yang maksimal pada trading Anda. Di antaranya yaitu analisa. Analisa terdiri dari 2 bagian yaitu analisa teknikal dan analisa fundamental. Bagi Anda yang sudah malang melintang di dunia trading, pasti sudah tidak asing lagi dengan 2 analisa ini. Analisa teknikal mengacu pada pergerakan harga dan psikologi trading sementara analisa fundamental beracuan pada data ekonomi dunia, berita besar, bencana alam, serta hubungan politik antar Negara. Nah pada kesempatan kali ini saya akan membahas 10 aturan analisa teknikal ala John Murphy. John Murpy merupakan seorang analis yang sudah berpengalaman dalam bidang trading selama kurang lebih 30 tahun. Aturan yang sengaja di buat John Murphy di tujukan bagi para trader pemula agar mereka bisa mengerti inti dari analisa teknikal. John Murphy lebih fokus pada trend dan arah pergerakan harga. Banyak trader terutama trader pemula yang merasa terbantu dalam memaksimalkan trading emas mereka. Anda mau bukti? Simak artikel ini baik-baik ya.

Esta investigación busca analizar las transformaciones y permanencias en los procesos de extracción, circulación y consumo del palo de Brasil procedente de la Nueva Granada en los siglos XVIII y XIX. Se hace énfasis en el palo de Brasil extraído en la provincia colonial de Santa Marta y distribuido hacia Europa y Estados Unidos entre 1770 y 1850. Aunque el objetivo central de esta investigación es hacer un acercamiento general a una materia prima poco estudiada, hay cuatro hipótesis generales que le sirven de guía. Primero, se propone que las rutas ilegales del palo de Brasil tienden a la persistencia a lo largo del periodo estudiado y representan la diversidad pero al mismo tiempo la continuidad de las conexiones comerciales atlánticas; mientras que las legales, más dependientes de la política oficial, tienden al cambio y la ruptura. Segundo, se busca mostrar que el palo de Brasil representó la percepción que se tuvo en los siglos XVIII y XIX sobre la provincia de Santa Marta como una “promesa no cumplida”, es decir, como un lugar con un gran potencial por su naturaleza y ubicación, pero que se mantuvo en la pobreza debido a diferentes “obstáculos” económicos, políticos y demográficos. Tercero, se propone que el comercio del palo de Brasil ayudó a los guajiros a mantener su autonomía frente al poder central de la Nueva Granada. Por último, se argumenta que, en general, en Europa el palo de Brasil fue visto como un tinte de segunda categoría; y que, en particular, en España se vio como una materia prima extranjera a pesar provenir de las colonias españolas. De esta manera, se busca hacer un aporte a la Historia Atlántica y del Caribe, desde la perspectiva de la historia de las mercancías.


"This research aims to analyze the changes and continuities in the processes of extraction, distribution and consumption of New Granada's brazilwood  in the eighteenth and nineteenth centuries. Emphasis is placed on brazilwood  extracted from the colonial province of Santa Martha and distributed to Europe and the United States between 1770 and 1850. Although the main objective of this research is to make a general approach to a scarcely studied raw material, there are four general hypotheses guiding it. First it is proposed that illegal  brazilwood trade routes tend to persistence throughout the period studied and represent the diversity but also the continuity of transatlantic commercial connections; while legal, more dependent on government policy, tend to change and rupture. Secondly, seeks to show that the brazilwood represented the eighteenth and nineteenth century perception of the province of Santa Marta as a "broken promise", that is, as a place with great natural potential that remained in poverty due to different economic, political and demographic "obstacles". Thirdly, it is proposed that the brazilwood trade helped the guajiros to maintain their autonomy from the central government of New Granada. Finally, is argued that, in general, in Europe brazilwood  was seen as a second class dye, and that, in particular, in Spain it was seen as a foreign raw material despite its american origin. Consequently, this investigation seeks to make a contribution to Atlantic and Caribbean history, through the perspective of commodity history. "

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