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Posts Tagged ‘dollar’

Fischer Launches New War on Shekel-Dollar Rate

Monday, April 8th, 2013

Bank of Israel Governor Stanley Fischer launched a new war on the falling shekel-dollar rate Monday and ordered the purchase of $100 million of greenbacks, soon after the rate dropped close to 3.59 shekels to the dollar for the first time in nearly two years.

The massive purchase catapulted the rate from the 18-month low of 3.592 to 3.62 in only a few minutes.

The shekel has strengthened this year, receiving recent support from expectations of positive fallout from the beginning of the flow of Israeli natural off-shore gas.

A strong shekel is great news for consumers buying items imported from the United States, but it sends shivers through Israeli companies with revenues in dollars. After converting income to shekels, the firms are left with less money, and their executives are constantly pressuring the Finance Ministry and the Bank of Israel to take measures to raise the currency rate.

U.S. Sending 20 More F-16s to Egypt – Just What An Islamic Republic Needs

Tuesday, December 11th, 2012

Despite it’s Muslim Brotherhood government, the US has decided to send 20 more F-16 fighter planes to Egypt,  FoxNews reports.

Egypt already has 200 planes, and these 20 are part of an order placed by the U.S., for former president Hosni Mubarak 2 years ago, as part of a $1 billion dollar foreign package to Egypt.

With Islamic Egypt cozying up to Iran, and the Israel-Egypt peace treaty on the rocks, is sending them the most advanced F-16s that Lockheed Martin makes the best of ideas right now? You would think with problems that Egypt faces, sending food and teachers might be a far more wiser use of that money.

Carny Nation

Sunday, November 11th, 2012

Come right in and step right up. See the bright lights and the oddities of nature. Inside folks, for the low price of twenty-two trillion dollars, you can see Binders of Women, Team Big Bird and entire reams of green windmills and fields full of bayonets and horses. Here lies become the truth and everything is full of sugar. And the highlight of the show with be Barack, the Exotic Prince from the Wilds of Indonesia and Kenya, with a special appearance by Oprah and a hologram of JFK. Here in the Carnival of Fools, the party never stops and no one ever has to pay the bill.

“There’s a sucker born every minute,” a famous connoisseur of them once said. And suckers are big business. Very big business indeed. But don’t feel too sorry for the sucker. The sucker is a creature composed of ignorance and greed. He believes in his own specialness. He believes that he can fool other people into giving him their money, when actually he is the one being fleeced. The mark is an aspiring scammer who is too dumb to realize that nothing in life is free and the scam is on him.

If you browse through your email’s spam folder, the chances are good that you will come upon a missive from a Nigerian prince offering you the opportunity to help him cart away his fortune in exchange for a sharp cut of the profits. These scams date back to the dinosaur years of the internet, and though there are occasional elaborations on the theme, the African scammers stick to the tried and true, even though the tried and true has become a cliche that anyone should be able to see through.

Why?

Because the Nigerian Prince scam is a self-selecting group. Anyone who still falls for it after all these years is dumber than your average sucker. The scammers know this and they don’t want to waste their valuable time hooking a difficult fish with a plausible scam. They go for easy marks for the same reason that some men fish with dynamite. Because it’s easier.

America has its own Nigerian Prince. I think you know his name by now. His campaign sent out nearly as many emails as his Nigerian colleagues do, promising fame and fortune to those suckers who would help him transfer some wealth from the 1 percent to the 99 percent. And now that his second term is here, the check is in the mail. And if the government check doesn’t clear, well that’s what happens when you put your faith in Nigerian Princes.

A scam like the Democratic Party needs suckers. It needs millions and millions of the dumbest people that can be found outside of specially supervised group homes. And then it needs to appoint people to watch over them, give them the occasional food and minor check, and drive them in vans to the polls after two or four years so that the con artists can keep their manicured paws on the local treasury.

These people have to be stupid, yes, but like all marks, they have to be greedy. They have to be the kind of people who relish taking someone else’s money without working for it. The kind who grin at the idea of putting something over someone else. The kind who think that they are smart because they decided that the world owes them a living. They think that they’re smart, but they’re only the marks in a con. And when the con is done, like the guy depositing a check from Nigeria’s Prince Uscamo, they are going to be the ones left holding the bag.

A con plays on the greed of the mark. And on his stupidity. And in a democracy, you can take over a country if you organize enough motivated suckers to vote for trillions in government money that they will never see, but that they are on the hook for. And if you don’t have enough native suckers, then you import more, taking care that your immigration policies favor the greedy sucker demographic. But unfortunately in a democracy where half the population doesn’t bother to vote and a quarter votes for the scammers, we are all on the hook for the scam.

Iran Currency Plummets

Tuesday, October 2nd, 2012

Iran’s currency fell a whopping 16 percent on Monday to a record low of 34,500 rials to the dollar, plummeting from 29,500 rials on Sunday.

Analysts say the currency’s dive signals the deepening impact of Western sanctions on the country initiated because of Iran’s continuing nuclear program.

$1 Million Israeli BRAIN Prize To Be Awarded in 2013

Monday, September 24th, 2012

A $1 million dollar prize has been announced which will go to the individual or team with the highest potential for helping people around the world by the non-profit organization Israel Brain Technologies.

The Breakthrough Research and Innovation in Neurotechnology (BRAIN) prize will be awarded by a panel of international leaders in neuroscience, technology, and business.

Israeli President Shimon Peres, whose love of brain research led to the founding of IBT, lauded the potential for make inroads against debilitating brain diseases, both in terms of the benefit to mankind and the possibility of economic profit.

The first BRAIN Prize will be awarded at IBT’s Global Brain Technology Conference in 2013.

Shekel Up Against Dollar Post-Rosh Hashanah

Wednesday, September 19th, 2012

The shekel strengthened against the dollar and euro in trading after the Rosh Hashana holiday.  Tel Aviv’s foreign currency exchange market was closed Monday and Tuesday for the Jewish New Year.

In trading on Wednesday morning, the shekel-dollar rate dropped by 0.38% to 3.895 shekels to the dollar.

The Euro also strengthened against the dollar to $1.308 to the euro following a four-month low by the dollar against the euro last week.

Israeli Gas, Iranian Missles, and the Russian Price Tag

Sunday, August 19th, 2012

In the on-going debate over an Israeli attack on Iran, attention has largely focused over the last few weeks on Israel and America, for good reason. But what about Russia? A very senior person in the Israeli gas industry tells me: “The Russians have been poking around here for a while. Everyone knows about the Russian interest in controlling the European energy market. Do they want to buy from us, or delay our efforts? I don’t know. But they are here.”

In early July, the Israeli energy and infrastructure news website “Thastiot” claimed that during Vladimir Putin’s much publicized visit to Israel, Putin and Israeli Prime Minister Netanyahu agreed to form a junior company to Gazprom – the Russian oil and gas giant—which would help develop Israel’s biggest gas field, the recently discovered reserves in the eastern Mediterranean, the so-called “Levyatan” (Leviathan) reserves.

“Eventually Israeli gas will be exported to the far east,” Ohad Marani, CEO of IDLC energy which is already drilling the Myra, said to me. For him, the question is purely economic. “In the Far East we will see three times what we see in Europe. While we won’t be able to keep the whole margin, it’s surely better than any European option, which would involve an expensive pipe.”

The senior industry veteran with whom I spoke is not quite sure. Yes, the Far East has unlimited demand (“The Japanese are lessening their reliance on nuclear, and the Chinese can never have enough”) but the European market remains relevant and we have this massive amount of gas already discovered or to be discovered. The US geological survey (USGC) estimates that gas reserves in the eastern Mediterranean amount to 345 trillion cubic feet while Russian gas reserves in Siberia are estimated at 643 tcf.

Big business! With lots of Russians having come and gone to Israel on this question, one wonders about the relationship between the gas deal and Russian involvement on the Iran question.

The same week Putin visited Netanyahu in Jerusalem, Eurasia monitor published that:

“the government agency that oversees Russia’s arms exports and imports… confirmed that Iran is suing Russia for damages to the tune of some $4 billion in the Court of Arbitration in Geneva for cancelling in 2010 a contract to sell five divisions of the S-300 long-range antiaircraft missile system worth an estimated $800 million to $1 billion.”

By some estimates the worth of the Levayatan gas-field might be 15 billion dollars say Gilad Alper, the gas industry analyst at the Excellence Investment house. It trades today at a price of 3 billion dollars.

Another way to look at it: Levayatan contains 473 billion cubic meters of gas. Gazprom exported 150 billion cubic meters of Gas to Europe in 2011, at a price of 384$ per thousand cubic meters – revenue of 57.6 billion dollar—this year Gazprom raised the price to 415$, an 8% increase that will generate another 4.6 billion dollar of revenue to Gazprom. What would be the cost of keeping Israeli competition neutralized? Would it be worth the cancellation of an 800 million dollar deal? Could Russian action over the missile sale and Israeli gas reserves indicate that they have come to terms with the Israeli point of view?

Prominent Americans like David Petraeus have been saying non-stop that Israel does not have the capability to destroy Iranian Nuclear capacities, and surely not Iran’s ambition to go nuclear. But if Israel can indeed delay the project while in the meantime having taken out of the picture one of Iran’s most important allies, then things might look very different from the office of Prime Minister Netanyahu. Everyone knows that Russia intends to play the ‘spoiler’ in the International arena. But this spoiler frequently has a price tag.

Originally published by the Gatestone Institute http://www.gatestoneinstitute.org

Printed from: http://www.jewishpress.com/indepth/analysis/israeli-gas-iranian-missles-and-the-russian-price-tag/2012/08/19/

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