Government money flowing into private banks.

by tonytran2015 (Melbourne, Australia) .

#money, #private bank, #Federal Reserve Banks, #underwriting fee, #bond, #quantitative easing,

Government money flowing into private banks.

American people keep paying to private bankers through (private) Federal Reserve Bank and various schemes.

1. USA fiat money.

fiatmoneyc60.jpg

Figure: Fiat money relies only on the taxation power of its issuing government for its backing.

From the above simple design for fiat money, International Private Bankers have managed to hook onto it their system living off the flow of fiat money.

2. Current flow of US money.

Fogure: Private banks are taking money off the government. Solid arrows represent current flows, hollow arrows future flows. Three dark green boxes on the right represent FRB.

Private banks “earn” their money from the government by:

1, “Underwriting” the issuing of new US money !

2. “Earning interest” for leaving their fractional deposits at (private) Federal Reserve Bank.

3. Influencing Government’s policies on Government Bonds.

4. Having free money from Quantitative Easing.

Notes:

1. The government of USA is a money sovereign. It can print as much fiat money as it likes (and bear the consequences). Its fiat money has value to American people because they have to use it to pay taxes to their federal and states governments.

2. The deposits by the contributing constituent, private banks of the Federal Reserve Bank are part of their own effort to make themselves appear more liquid. They cannot demand any interest from the government on their deposits, just like airlines cannot demand government compensation on the costs of carrying their statutory reserve fuel on each flight.  It is currently (for 2016) costing $40 per year per person for the US to keep using the private Federal Reserve Bank.

3. It is nice when you are the buyers of Bonds and you can influence the seller (government) !

4. Early redeeming of bonds still at face value is having free money  (   [11]).

3. Chilling story of United States Notes.

Presidents Abraham LincolnThomas Jefferson and John F.Kennedy had seen the unfairness of private bankers charging interests to the country and had tried to unshackle the burden on the country. Lincoln and Kennedy had been assassinated while Jefferson survived the assassination attempt.

A chilling history of private bankers gripping the US government system is given by reference [9]:

“Central bank usury control caused the US Constitution… to get their First Bank Of  The United States in 1791. … When their 20-year charter was up in 1811, the Jeffersonian Democrats prevented its charter from being renewed. So the Rothschild bankers summoned their mercenaries (the British army and navy) to teach us a lesson, the War of 1812. … they got their Second Bank Of The U.S., again with a 20-year charter. When Andrew Jackson was elected in 1828, the bankers tried everything to stop him; they created the 1833 recession; had him censured in 1834; and a failed (both guns misfired) assassination attempt on Jan. 30, 1835… Jackson killed the bank in 1836, … During the Am. Civil War, Abraham Lincoln created Greenbacks instead of the 24% to 36% usury the Wall Street bankers wanted to charge, and he was assassinated on Good Friday 1865. … 1913 the Rothschild bank got their …. Federal Reserve Bank. The Federal Reserve Act of 1913 originally had a 20-year charter. But … 1927, the McFadden Pepper Act was signed into law. It made the F.R.’s power over our monetary policy perpetual. . … 1963, President John F. Kennedy created United States Treasury Notes, known as Silver Certificates, with Executive Order 11110, and he was assassinated on Nov. 22, 1963.”


4. Conclusion.

Bankers are now even pushing for the use of cashless cards issued by them [10] !

American people should resist that and should further demand United States Notes (each with a red seal) issued directly by the Treasury just like those issued under Kennedy’s administration. Those notes had nothing to do with the FRB.

Using the dollar notes with red seals (such as Five dollar with Red Seal Notes in series 1953 A through C, see picture in reference Five-Dollar-Bill-Red-Seal-Series [6]) will save Americans $40 per head each year.

References:

[1]. Your fiat money, https://survivaltricks.wordpress.com/2017/01/09/your-fiat-money/

[2]. Your fiat money (Part 2), https://survivaltricks.wordpress.com/2017/01/12/your-fiat-money-part-2/

[3]. The-thirty-families-made-plans-for-a-future-without-you, theMicky.org, http://mikeyy.org/2017/01/30/the-thirty-families-made-plans-for-a-future-without-you/, originally by horse237, https://vidrebel.wordpress.com/2017/01/30/the-thirty-families-made-plans-for-a-future-without-you/

[4]. Stack Jones, The Banking Swindle-The History of Banking Fraud,  criminalbankingmonopoly.wordpress.com, https://criminalbankingmonopoly.wordpress.com/2014/02/20/history-of-banking/#comments, accessed Jan 2nd, 2017.

[5]. Federal Reserve System, wikipedia, https://en.wikipedia.org/wiki/Federal_Reserve_System, accessed Jan 2nd, 2017.

[6]. Five Dollar Bill Red Seal Series 1953 US Currency, Natural Web Solutions Inc.(US), https://www.collectons.com/shop/item/58107/Five-Dollar-Bill-Red-Seal-Series-1953-US-Currency#imgs58107

[7]. Us issues, Central banks alchemists of finance part iii-reblogging, http://us-issues.com/2017/04/05/central-banks-alchemists-of-finance-part-iii/, 03 April 2017

[8]. Dale B. Halling,  History of Central Banks in the United States, thesavvystreet.com, http://www.thesavvystreet.com, accessed 03 April 2017.

[9]. http://rudolfhess.net/

[10]. tonytran2015,  ,

[11]. , Reuter https://www.reuters.com/article/uk-us-economy-imf-idUKBRE95O0P720130625, June 25, 2013.

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Understanding Foreign Trading with China (Beware of strangers bearing gifts)

by tonytran2015 (Melbourne, Australia).

#Foreign Trade #China #punitive campaigns, #strangers bearing gifts, #Dayuan, #Han,

Understanding Foreign Trading with China (Beware of strangers bearing gifts)

1. The purpose of Foreign Trading by China.

China is subscribing to the concept of  [1], and only use Foreign Trading as a mean to prise open other nations, to provide itself with opportunities to invade.

Learning from reference [2] which is essentially a summary of the writing in [3], we can see typical unfolding of events. They happened two thousand years ago but still can reappear now.

First Han (China) wanted to apply the method of  to relieve pressure from its strongest neighbour Xiongnu,

“The Han court dispatched Zhang Qian, a military officer who was familiar with the Xiongnu, to the Western Regions in 138 BC … to make contact and build an alliance with the Yuezhi against the Xiongnu.
Zhang Qian returned in 125 BC with detailed news for the Emperor, showing that sophisticated civilizations existed to the West, with which China could advantageously develop relations. ” [2].

Figure: Dayuan, from Wikipedia, https://en.m.wikipedia.org/wiki/Dayuan, File:Ta-YuanMap.jpg licensed under the Creative Commons Attribution-Share Alike

Dayuan were not interested in neither war nor alliance with China, so China only wanted to trade with Dayuan while preying on Dayuan:

“The Shiji relates that “the Emperor learned of the Dayuan (大宛), Daxia (大夏), Anxi (安息), and the others, all great states rich in unusual products whose people cultivated the land and made their living in much the same way as the Chinese. All these states, he was told, were militarily weak and prized Han goods and wealth”.”[2].

But Dayuan had some NOT-FOR-EXPORT items and Dayuan was weak so China wanted them:

“After being released from captivity by Xiongnu, Zhang Qian visited Dayuan, located in the Fergana region west of the Tarim Basin. The people of Dayuan were being portrayed as sophisticated urban dwellers similar to the Parthians and the Bactrians. 
“Dayuan lies southwest of the territory of the Xiongnu, some 10,000 li (5,000 kilometers) directly west of China. The people are settled on the land, plowing the fields and growing rice and wheat. They also make wine out of grapes. The people live in houses in fortified cities, there being some seventy or more cities of various sizes in the region. The population numbers several hundred thousand” (Shiji, 123, Zhang Qian quote, trans. Burton Watson).
Zhang reported the famous tall and powerful “blood-sweating” Ferghana horse. The refusal by Dayuan to offer these horses to Emperor Wu of Han resulted in two punitive campaigns launched by the Han Dynasty to acquire these horses by force.”[2].

So Dayuan had not been wary of strangers bearing gifts and it had been punished  !

2. Those who cannot remember the past are condemned to repeat it. 

“Those who cannot remember the past are condemned to repeat it” is a well known phrase from George_Santayana). [5]

Currently there are many countries trying to have their chance to trade with China (The Silk Road project [6], [7],[8]). Probably, they have not learnt from the past. The following statement written some 2000 years ago is still appropriately applicable to them: All these states,… , were militarily weak and prized Han goods and wealth [2].

3. Conclusions.

1. Present China still hold Han China as its model empire. The future of those weak countries trying to trade with China does not look good.
2. Foreign trading is a dangerous double sided sword and cannot be left unregulated.

References.

[1]. tonytran2015, understanding-chinas-perpetual-wars-against-its-neighbours, https://survivaltricks.wordpress.com/2017/04/01/%e2%80%8bunderstanding-chinas-perpetual-wars-against-its-neighbours/

[2].  

[3]. Sima Qian, Records of History by the grand historian (translated by Burton Watson), Qin Dynasty, Han Dynasty I (Rev. Ed.) and Han Dynasty II (Rev. Ed.), the Res. Cent. for Transl. The Chinese Univ. of Hon Kong and Colubia Univ. Press, Hong Kong and New York, 1961.

[4]. Sun Tzu, The Art of War. First published in Chinese before 200BC. There are English translations.

[5]. Santayana, https://en.m.wikiquote.org/wiki/George_Santayana

[6]. http://www.abc.net.au/news/2017-05-14/china-plans-new-silk-road-to-dominate-world-trade/8522682

[7]. http://www.aljazeera.com/indepth/opinion/2017/05/china-silk-road-project-trap-opportunity-170514142652061.html

[8]. http://www.bbc.com/news/business-40044113

[9]. https://www.amazon.com/gp/aw/d/B0006QY4WS/ref=cm_cr_srp_mb_bdcrb_top?ie=UTF8

[10]. http://bookish.asia/ways-that-are-dark-the-truth-about-china-%E2%80%A2-ralph-townsend/

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Adding Longitude and Latitude Lines to a map

by tonytran2015 (Melbourne, Australia).

#find North, #GPS, #navigation, #off grid, #adding, #longitude, #latitude, #coordinate, #lines, #map,

Adding Longitude and Latitude Lines to a map.

Locating where you are using the internet is great but there are times when you have no mean to connect to the internet and you have to use GPS for positioning without any assistance via the internet. Such a situation may arise when you have no internet coverage or when going hiking.

If you want to use your GPS off-grid with any map, you need to draw on top of the map an accurate system of regularly spaced longitude and latitude coordinate lines

This posting shows how to add the lines.

1. Making a map graduated with Longitude and Latitude Lines. 

1. Choose a map with your required resolution and range. The resolution differs for different application: For city street maps resolution should be better than 2m, for country town maps, resolurion only need to be better than 5m as houses are widely separated, for touring, exploring maps, resolution can be upto the (1/10) of the visual range, etc…

2. Make sure that the top of the map points to true North. (In some countries, maps are deliberately oriented at angle to true North, probably for security reasons.)

Figure: Openstreetmap for Melbourne with 3 airport landmarks. Map is used under Open License from Open Street Map, the data are owned by Open Street Map Contributors.

3. On that map, find some unmistakable features such as a well known Airport or Helipad, a Light House, a TV Transmission Tower, a Town Hall, Churches, Schools, Cottages in a forrest, sharply defined mountain peaks, trail intersections… with known longitudes and latitudes. Their coordinates are usually given on the Internet or or easily extracted from Google Map or Navigating Apps.
Find two to four such fearures located near the four extreme corners of your map. They will be used as land marks.

Ecample:

The 3 landmarks that can be used here are:

a. Melbourne Tullamarine airport, Elevation AMSL 434 ft / 132 m, Coordinates 37°40′24″S 144°50′36″E

b. Melbourne Moorabin airport, Elevation AMSL 50 ft / 15 m, Coordinates 37°58′33″S 145°06′08″E

c. Melbourne Essendon airport, Elevation AMSL 282 ft / 86 m, Coordinates 37°43′41″S 144°54′07″E

4. On a separate fresh sheet of paper make a coordinate grid of longitude and latitude covering your range.
On this sheet with grid but no map, mark the coordinates of your land marks.

Figure: Melbourne Tullamarine and Moorabin airports on a grid map.

5. Check that the shape of the figures formed by the land marks are similar in both the grid sheet and the map. You may have to stretch  or shrink the grid vertically and then horizontally to have a fit. The figures should be similar if no mistakes have been made. If the shapes are similar you can proceed to the next step.

6a, If the map and grid are both digital, they can be superimposed in the computer to produce the following map with added coordinate lines:

Figure: Openstreetmap for Melbourne with added cooodinates. Map has been modified from original map used under Open License from Open Street Map, the data are owned by Open Street Map Contributors.

The added lines are on round figure coordinates and are 2 minutes of arc apart. The intersection nearest to the NW of Tullamarine airport has coordinate (144°50′E, 37°40′S ). 

6b. If you are using printed map: Join two distant landmarks on the coordinate sheet and notice where the lines of “minute of longititude” and of “minute of latitude” intersect it

7. If you are using printed map:  Reproduce that line, with all its intersecting points, on the actual paper map.

8. If you are using printed map: From these intersecting points project corresponding vertical lines to make the  “minute of longititude” lines and horizontal lines to make “minute of latitude” lines.

9. The map is now graduated with longitude and laritude lines.

10. Its grid can now be used as a base to draw finer grids for detail maps with higher resolutions.

2. Using GPS with maps. 

You can download a (preferably topological) map of your area to practice drawing the coordinate lines, the constant altitude lines and learn about the accuracy of the values of longitude, latitude and altitude given by your GPS apps.

It is preferable to use topographic maps with old fashioned land marks (such as churches, tall towers …). Topographic maps give the additional constant ground altitude contours (relative to some mean sea level surface). Constant altitude curves are the faint brown curves on the map illustrated here. The height of each contour is given by a small number. The altitude values of 20m and 10m have been highlighted in this example map by two red circles.

 

Figure: Opentopomap for the area in my test. Map is used under Open License from Open Street Map, the data are owned by Open Street Map Contributors.

References

[1]. tonytran2015, Using GPS in off-grid situations., posted December 6, 2016

[2]. tonytran2015, Measuring angles and distances for outdoor survival, survivaltricks.wordpress.com,

https://survivaltricks.wordpress.com/2016/06/29/measuring-angles-and-distances-for-outdoor-survival/, posted 29/6/2016.

[3]. tonytran2015, Selecting and using magnetic compasses, survivaltricks.wordpress.com,

https://survivaltricks.wordpress.com/2016/07/09/selecting-and-using-magnetic-compasses/, posted 09/7/2016.

[4]. , BBC News, UK radio disturbance caused by satellite network bug,

http://www.bbc.com/news/technology-35463347, 2 February 2016.

 

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Miseries unleashed by push for Cashless trading

by tonytran2015 (Melbourne, Australia).

#bank gouge, #cashless, #rip off, #bank fee, #bank charge, #penalty, #overdraft.

Miseries unleashed by push for Cashless trading.

The bank advocates in Australia used the pretext of fighting tax evasion and organized crime [1] to advocate the abolition of cash. Is this their real motive? As usual, we have to think that bank profit is the real motive. The situation in Australia is just a local version of wider analoguous global events.

1. Definition of Cashless societies.

In setting up cashless societies, governments require each person to open a bank account and put all his earning and spending through that bank account. They claim doing this reduces tax evasion and organized crime.

2. Can tax evasion be reduced?

No. People can still form Work Parties to trade their works (tax free) ! Similarly, people can exchange their services for goods.

For evasions by trademen and retailers, random inspection can drastically increase compliance with existing GST, VAT system using cash.

3. Can organized crime be reduced?

a. It is now known that Russian organized crime flourished in the Soviet era as people could still give one another ration cards, goods, service, favours, etc.

b. The Commonwealth Bank of Australia did not get any fine for transgressing the rules on Cash transactions. (Yes, the Australian Government still shamelessly said that it wanted to fight organized crime by bank rules !)

So it is only hopeful talk on its effects [19], [20], , [24].

4. The real motive in making a cashless society:

a. Private International Bankers have owned Central banks of USA, England [2], and now they want a firmer grip on national finance of each country.

From partial ownership of Federal Reserve Bank, they annually collect $40 USD per American head (They love it to  the point of assassinating 2 US Presidents and attempted (failed) assassination of another US President.). We have to imagine how much more they can collect if they also control individual accounts of each person.

b. Int. bankers failed attempts to lure people into Diner Club, American Express, Visa, Master Cards tell them that they have to herd users into their system by legal compulsion.

c. Their failure is caused by people’s aversion to their multitude of fees: joining, interests on debits of more than 28 days, penalties for not meeting monthly minimum payments, etc… (, [23]).

d. They tried to promote their cards again by TV advertisements, asking hired cars companies and hotels to limit business to only credit card holders.

e. They still failed.

f. So they realized that the easiest way to herd people into their finacial systems is to have cash removed. Finally, they had the Indian government doing exactly what they wanted!

Figure: The setting up of a fiat money.

In my illustration for the setting up of fiat money, just imagine that there was a banker in front of the government building intercepting all transactions between it and its citizens and even among the citizens. Can you trust that banker?

5. People are forced to put their savings into banks and give credits to stores.

People have to put their money in the banks to increase the ratios of money kept over all money on loans from those banls.

Stores will have to issue trade account vouchers to replace cash. Prudent people will have to buy these vouchers to avoid being left without foods, clothes and everything else if the internet or the banks or all shut down.

Prepayment of goods for about two month of supplies is in effect giving credits to the stores.

If the stores go bankrupt, your customer voucher cards may give you higher priority than unsecured trade creditors !

This has also been suspected as a real motive for the Indian goverment’s attempt to force cashless systems on Indian people [4].

6. How to avoid bank gouge.

(The long rules to avoid fees, rip-off penalties and inconvenience.)

In a cashless society, each person must have a bank account with a card. So you have to adhere to the following rules:

1. Select a card WITHOUT OVERDRAFT FACILITY from a bank with no joining fee, no monthly fee and no exit fees.

This may be possible but may also be impossible depending on competition between the banks. You also have to expressively tell the bank that you DON’T WANT ANY OVERDRAFT. Failing to say that may allow them to charge you hefty overdraft fees.

2. Try to find sellers with no or low charges on your purchase transactions.

3. Keep track of your deposits and spendings on a WRITTEN piece of paper to match up your balance figures with those on monthly bank statements.

4. Find out the exact dates your deposits will be added to and various fees deducted from your balance. The delays on adding the deposit may be blamed on non-business days, 3 days delays for the bank to use your money for free, failure by their own computers or connection network !

5. Eagerly read your monthly statements to reconcile your balance after receiving it.

6. Leave about $10 in your account card to cover for the anticipated differences caused by different ways of calculating the balance (fees on your deposits, fees on your purchases). This prevents it going into negative, triggering an OVERDRAFT mode for that they can whack a huge FEE (penalty ?) of about $20USD on your account. (Please reread rule #1 !)

7. IMMEDIATELY notify the bank if statement fails to arrive. IMMEDIATELY report to the bank any discrepancy between the monthly statement and your own written record of the account.  Non-reporting implies your acceptance of their statements and later discovery of any difference will not be LEGALLY accepted. (Please reread rule #3 !)

8. Only shop at your familiar shops, avoid shopping at unfamiliar shops which may run a card scam on you.
7. Do not enquire about your balance more often than you are allowed to (about 6 free enquiries per month, each additional enquiry cost you $1.00USD).

9. Do not purchase more often than you are allowed to (the relevant governments have to make rulings on the frequencies). Each extra purchase trip may cost you some transaction fees of about $2.00USD (estimation only).

10. If you transgress (or is trapped by ?) any of the bank rules (like not paying their arbitrarily imposed rip-off penalty) your account card will be locked up and have no way to access your deposits (whether they are your salaries or government allowances) until you open another account card at another bank (usually with high fees and penaties conditions). You have to live off your family and friends while waiting for the new card.

7. Incidental (rip off?) fees.

1. OVERDRAFT FEES if applicable ($30 AUD = $25 USD per triggering in Australia and much higher in the UK, at £90 per month [6]).

2. STATEMENT REPRINT FEES ($30 AUD = $25 USD per monthly listing in Australia).

3. Plastic card replacement fees.

4. Balance enquiry fees when exceeding allowed numbers.

5. Outrageous fees if you use you cards oversea ( [22]).

8. Systemic risks to account holders.

1. The internet can collapse at any time leaving account holders in the cold  (  [7]),  or some hacker may attack to lock up all customer accounts ( [7a]). 

2. According to current banking rules in major English speaking countries, customers will lose their money deposited to their accounts if the bank goes bankrupt. Only 10% of total of all deposits are kept for them in the Central Bank (which may also be privately owned, as in USA and in UK !). 

So if any bank has some misfortune,  its customers can say goodbye to their strings of 0’s and 1’s. In the time following that they have to somehow survive, waiting for the Central Bank to intervene !

The risk is not imaginary. Multiple banks have been defrauded. The Bangandesh Central Bank have been defrauded by just a single of many possible scams ( [8]). Similarly, a giant French bank has been exposed to billions of loss ( [21]).

9. Social consequences.

1. Homeless have to beg for shelters, foods or clothings, not money.
2. Casual, unplanned  cash in hand jobs for handimen will disappears.

3. Sunday markets, garage sales will disappear.

4. Small repairs and odd works are to be carried by registered handimen at much higher costs (with their well known tricks of making small jobs big).

5. Houses deteriorate due to high maintenance costs.

6. With a captive market, banks can increase their fees and impose penalties at their will. Bankers become a new ruling class.

7. Stores will have to issue trade account vouchers to replace cash. Prudent people will have to buy these vouchers to avoid being without foods, clothes and everything else if the banks shut down.
8. Economic slow down due to lack of fluidity of transactions (look at India after demonetizing for an example).

9. Underworld now trade in high value goods (companies, houses), influence, favours and forced, inhouse labours.

10. Conclusion.

You have been warned! Bankers are really desperate for your money [17].

References.

[1]. http://www.abc.net.au/news/2017-08-18/cba-the-only-bank-on-austrac-radar/8820686

[2]. http://rudolfhess.net/

[3]. India rupee ban: Ex-PM Manmohan Singh rubbishes Modi crackdown, BBC News Services, http://www.bbc.com/news/world-asia-india-38088177, 24 November 2016.

[4]. http://indianexpress.com/article/blogs/demonetisation-implementation-cash-crunch-digital-payments-cashless-transactions-4435312/

[5]. https://en.m.wikipedia.org/wiki/Bangladesh_Bank_robbery

[6]. https://speakout.38degrees.org.uk/campaigns/2560?utm_source=facebook&utm_medium=advert&utm_campaign=18_8_2017_unfair&bucket=facebook-advert-18_8_2017_unfair.

[7]. 

[7a]. tonytran2015,  .https://survivaltricks.wordpress.com/2016/11/20/collapse-of-online-banking-is-not-a-remote-risk/, posted on 

[8]. )


[9]. Neha Sharma and Shalu Yadav, The Indian village that has returned to bartering, BBC News Services, http://www.bbc.com/news/world-asia-india-38180075, 5 December 2016.

[10]. Patrick Bodenham, Will Spain’s coal belt survive through online barter?, BBC News Services, http://www.bbc.com/news/world-europe-38731808, 2 February 2017.

[11]. James Melik, Haggling and bartering gain appeal, BBC News Services, http://news.bbc.co.uk/2/hi/business/7883050.stm, 12 February 2009.

[12]. Mark Lowen, Greece bartering system popular in Volos, BBC News Services, http://www.bbc.com/news/world-europe-17680904, 12 April 2012.

[13]. https://mishtalk.com/2017/08/16/india-bans-gold-exports-without-a-valid-reason/

[14]. https://astutenews.com/2016/11/17/war-on-cash-intensifies-citibank-to-stop-accepting-cash-at-some-branches/

[15]. Ex-HBOS banker ‘sold his soul for swag’, bbc new, http://www.bbc.com/news/business-38842723, 2 February 2017.

[16]. Barry Ritholtz, Excessive CEO Pay for Dumb Luck, bloomberg.com, https://www.bloomberg.com/view/articles/2017-03-06/excessive-ceo-pay-for-dumb-luck, accessed 07 Mar 2017

[17]. tonytran2015, Bankers given outrageous incomes by their boards, https://survivaltricks.wordpress.com/2016/12/22/bankers-given-outrageous-incomes-by-their-boards/, posted on December 22, 2016

[18]. http://wallstreetonparade.com/2016/08/bailed-out-citigroup-is-going-full-throttle-into-derivatives-that-blew-up-aig/

[19]. http://www.perthnow.com.au/news/western-australia/cashless-welfare-card-backfires-with-increase-in-crime-according-to-aboriginal-health-council-of-wa/news-story/adc141c9c21467e3c33b6355ff682c29

[20]. https://www.theguardian.com/australia-news/2017/jan/09/ration-days-again-cashless-welfare-card-ignites-shame.

[21]. http://www.nbcnews.com/id/22818054/ns/business-world_business/t/french-bank-blames-trader-billion-fraud/

]22]. tonytran2015, https://survivaltricks.wordpress.com/2016/12/02/avoiding-high-costs-of-credit-cards-on-oversea-transactions/

[23]. , news.com.au, http://www.news.com.au/finance/business/banking/customer-fee-gouge-rolls-on-as-banks-make-massive-profits/news-story/5084b9b9f08c8836f6056fed84092b6b

[24]. https://www.bloombergquint.com/global-economics/2017/08/30/india-central-bank-spends-record-amount-to-replace-void-notes

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, Posted on December 15, 2016

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Finding North with a lensatic compass

by tonytran2015 (Melbourne, Australia).

#find North, #finding North, #compass, #lensatic, #magnetic, #true North.

Finding North with a lensatic compass.

A magnetic compass uses the local magnetic field generated by the rotating core of the earth to give the rotational axis of the earth. The two directions are reasonably close.

The magnetic compass is a secondary directional instrument to people who can observe celestial bodies for navigation but is a primary practical directional instrument to people who work under the forrest canopy or underground and cannot observe any Celestial body. (Gyro-compasses are too expensive for most people).

This blog shows how to use lensatic compasses to their full capability.

1. Basic operation (working with Magnetic and True Norths).

Magnetic Declination

Figure: True North, Magnetic North and Magnetic Deviation.

Obtain the magnetic deviation for your area. This deviation is commonly between (-45) degrees and +45 degrees and it slowly changes to a new value every year. The deviation is obtainable from the internet or by the method given in reference [2]. Positive magnetic declination means the Magnetic North is on the East of True North.

If you are using a compass with a rotating compass rose which always points to magnetic North, just read the graduation on the card and ADD the signed magnetic declination to it.

2. Using a lensatic compass

A lensatic compass provides a small lens to read the heading of the compass from a rotating rose.

Compass lensatic

Figure 1: An old ex-US Army lockable dry compass (made around 1965, initially known as M-1950 compass) from disposal stores remains robust and can keep on working although the clear glass has become partially clouded. The lid is open by 70 degrees..

Compass lensatic 2

Figure 2: A lensatic compass with the lid open to vertical postion (90 degrees).

Compass Lensatic 3

Figure 3: A lensatic compass with the lid open by 135 degrees.

Compass Jap. lensatic

Figure 4: A lensatic compass with the lid open by 180 degrees.

The steps are:

1. Open the lid by 90 degrees to its vertical position. The lid has an aiming slit with a sighting wire.

2. Open the small sighting tab with the lenses by 90 degrees to vertical posotion. This also unlock the compass rose of the M-1950 compass.

3. Place your thumb through the ring to keep the compass vertically on top of your hand.

4. Place your sighting eye behind the lens to see the scale on the rose and the target point simultaneously. The sighting tab may have to move closer or away from the scale to produce a clear reading.

5, When the slit on the sighting tab, the wire on the lid and the target all line up, the figure on the rose gives the target direction relative to magnetic North on the rose.

6. Add the SIGNED magnetic declination to it to get the direction relative to TRUE North.

3. Reconnect to true North.

When using a magnetic compass, form the habit of reconnecting the true North given by the compass to the true North given by the Sun, the Moon, terrain, landmarks, etc… This prevents many possible disasters.

find North by watch

Figure: Cross checking directions with those from a Celestial method whenever possible is a desirable habit. This illustration is from reference [7].

find North by the Sun

Figure: Cross checking directions with those from a Celestial method whenever possible is a desirable habit. This illustration is from reference [4].

4. Precaution against magnetic anomalies .

Besides magnetic deviation caused by the core of the earth, there are also deviations near ground surface caused by man-made objects and ore bodies. These are called “Magnetic Anomalies”. An anomaly produces non-parallel magnetic field lines and non-constant magnetic field strength.

The following steps help to detect any magnetic non-uniformity in order to detect such anomalies and to avoid disorientation when using a magnetic compass (A magneto-meter is better for this detection as it supplies the extra accurate value of field strength but it requires batteries.).

1/- Count the yaw and pitch oscillation frequencies of the needle of any new compass. Write them on a piece of paper for future reference.

2/- Check the polarity and the yaw and pitch frequencies before packing the compass for any trip. If the frequencies have decreased the needle may have lost part of its magnetism and re-magnetization may be needed.

3/- Have a habit of cross checking directions with those from Celestial methods (given in references [4,5,6,7]) whenever the Sun or the Moon or bright stars can be seen. The cross checking with the direction determined by the method given in [7] also verifies that your watch is still working.

4/- Frequently take the bearing of your destination in both standing and crouching/sitting positions (with different heights), even if you are confident of your current position. This ensures that your compass is ready when needed and you are prepared against any sudden loss of visibility (due to change in weather, terrain, falling down a crevice! . . .). Any quick change in magnetic direction with height or with horizontal travel distance usually reveals a very strong, meter-scaled magnetic anomaly. The anomalies may be caused by buried metal objects (steel-reinforced bunkers, car bodies, tank bodies, unexploded bomb-shells!, magnetic ores,…) or even induced magnetic field from high voltage power lines.

5/- If anomaly is suspected, count the yawing frequency of the needle. The external field strength acting on the needle is proportional to the square of this frequency. For example, if the frequency goes up by 2, the external magnetic field strength may have gone up by 4.

6/- Distant objects such as mountain peaks, light houses, transmission towers can help detecting the sudden change in magnetic deviation when you travel. The magnetic bearings of these distant objects should only change slowly. If there is any sudden change in their bearings you may have to check the accuracy of your compass or the change in magnetic deviation.

Notes:

Compasses are usually NOT suitable for rail travelers as the carriage bodies and the rails underneath it creates magnetic abnormality.

Compasses mounted in cars and boats have special, additional compensaring devive to eliminate the influence by the car or boat bodies.

5. A special mode of operation to reduce own influence.

Compass lensatic away from body

Figure 3: Hand posture for holding type M-1950 compass for sighting with a stretched arm. The finger through the brass ring is the middle finger. The sighting is carried out using the slit in the sighting tab and the wire in the lid. The lens has no function in this sighting mode. This is my own novel mode of operation not designed by the makers of type M-1950 compasses.

Magnetic material carried on users’ bodies can affect the readings on their compasses. They have to use the following mode of operarion to reduce that effect.

Using the lockable compasses.

Any tilt tolerant, lockable compass can also be used in this mode. Tilt tolerance ensures that the needle can point North before the lock is engaged to freeze it in place. The ex_US Army compass (model M-1950) in figure 1 of Step 2 can be used in this mode, and is surprisingly accurate, as it is tilt tolerant and the inertia of its rotating compass rose ensures that the needle orientation is retained while the lock is engaging. A lockable M-1950 compass is used in the following way (This is my own novel mode of operation, not designed by the makers of type M-1950 compasses. Do NOT complain to them that their compasses are not comfortable to use in this way!) :

Place the lid and the sighting tab of the M-1950 compass in vertical positions to have the compass in unlocked and operating condition. Turn the holding ring near the sighting tab fully downward. Curl the middle finger of your hand and stick it through the holding ring of the compass. Grip the compass by pressing the end of the index finger against the lid hinge and the joint of the thumb against the sighting hinge. Stretch your arm while holding the lensatic compass horizontally level at the height of our eyes, away from your head, with its lid vertical and its lock still fully disengaged (sighting tab in vertical position).

Take aim of the destination by the aiming guide then hold till for 3 seconds. Gently engage the lock (push the sighting tab into horizontal position) by only raising only the first joint of your thumb to push against the bend of the sighting tab while keeping the rest of the body motionless. After having been locked, the whole compass is bought to your comfortable reading distance to read the locked position of the needle. The magnetic bearing of the aiming line is the value on the compass rose at the point nearest to the hinge. It is hard to read but is definitely readable even with the sighting tab fully down.

Please leave any comments and suggestions here so that the posting can be improved !!

References.

[1]. tonytran2015, Beware of perilous flips by magnetic compasses, survivaltricks.wordpress.com, , posted on June 14, 2016.

[2]. tonytran2015, Determining local magnetic declination by a magnetic compass, survivaltricks.wordpress.com , Determining local magnetic declination by a magnetic compass, posted on March 31, 2016.

[4]. tonytran2015, Finding directions and time using the Sun and a divider, survivaltricks.wordpress.com , Finding directions and time using the Sun and a divider., posted on May 6, 2015.

[5]. tonytran2015, Finding North direction and time using the hidden Sun via the Moon, survivaltricks.wordpress.com, Finding North direction and time using the hidden Sun via the Moon . Posted on July 6, 2015.

[6]. tonytran2015, Finding North direction and time by stars, survivaltricks.wordpress.com, Finding North and time by stars. Posted on August 28, 2015

[7]. tonytran2015, Finding accurate directions using a watch, posted on May 19, 2015 .

DirectionBySun_12N .

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Finding North direction and time using the hidden Sun via the Moon . Posted on July 6, 2015This is a useful technique.

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Finding North direction and time using the Moon surface features. Posted on July 1, 2015. This is a useful technique.

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Vietnamese Sour Soup of Minty Indian Taro (Canh chua bạc hà)

by tonytran2015 (Melbourne, Australia).

#Canh chua. #Bac Ha, #Canh chua Bac Ha, #Indian taro, #Minty taro, #Colocasia gigantea, #sour soup, #toxic.

1. Vietnamese Sour Soup of Minty (Indian) Taro.

Figure: Sour soup of Minty Indian Taro (Vietnamese Canh chua bạc hà)  in 200 ml bowl.

Figure 2: Sour soup of Minty Indian Taro (Vietnamese Canh chua bạc hà) in 200 ml bowl.

Called Canh chua Bac Ha in Vietnamese. 

Figure 3: Soup of Bean Shoots in Minty Indian taro.

Sour soup of Minty (Indian) Taro (Vietnamese canh chua bạc hà) is quite tasty, healthy and nutritious. 

CAUTION:

There are many Vietnamese TV and Internet news reports that eating this soup may raise the level of uric acid in your body [3,4]. You may need to be aware of this problem.

2. Preparation.

It is prepared by long boiling the slanted slices of stalks of the plant Colocasia gigantea (also called giant elephant ear or Indian taro) with acidic tamarind fruits (Vietnamese trái Me) and small anounts of other (optional and depending on your prefered tastes) herbs until they soften and the water becomes slightly brown, tasty and sour (acidic). The acid from tamarind fruits dissolves the small needle shape crystals of calcium oxalate in the stems of Colocasia gigantea. However, it should be noted that uncooked Taro parts may be toxic.

The sour soup is acidic and has a lot of Calcium Oxalate. It is obvious that no copper should come into contact with the soup.

Figure: Indian taro (Colocasia gigantea), from Wikipedia, https://en.m.wikipedia.org/wiki/Colocasia_gigantea, file: Gardenology.org-IMG 7621 qsbg11mar.jpg, licensed under the Creative Commons Attribution-Share Alike, 

Colocasia gigantea  (also called giant elephant ear or Indian taro) is a 1.5–3 m tall herb with a large, fibrous stalk. Its relation to Alocasia odora in the same family of Arum plants  needs to be clarified. 

Green Bạc Hà (Colocasia gigantea ) can be obtained from
http://www.tratiphashop.com/Cay-Bac-Ha-Nau-Canh-Chua-575-5.aspx

WARNING: Other parts (raw or cooked) of the plant are mildly to moderately toxic. Other similar Arum plants in the same family are toxic. Proper learning is required to IDENTIFY the plant and to prepare this soup.

3. Where to find it.

It is an inexpensive dish (costing 4000VND =20cUS in 2017) in Vietnam (in Saigon).  It is included in the inexpensive meal outlets (Cơm Bình Dân, Cơm Sinh Viên, Cơm Văn Phòng) sold to Workers, Students, Office Workers, Neighbour Resident.

I don’t know how much it would cost in a Vietnamese restaurant outside Vietnam. It may cost you $4.00US (?).

References.

[1].  https://en.m.wikipedia.org/wiki/Colocasia_gigantea

[2]. http://www.tratiphashop.com/Cay-Bac-Ha-Nau-Canh-Chua-575-5.aspx

[3]. http://m.vtc.vn/loi-va-hai-khi-an-doc-mung-ai-cung-can-biet-d263621.html

[4]. http://m.soha.vn/song-khoe/tac-hai-dang-so-cua-bac-ha-doc-mung-trong-mon-canh-chua-20140707104502218.htm

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The Parasites of Western Economy, Part 5: Company Asset Strippers and Conspirators.

by tonytran2015 (Melbourne, Australia)

#parasite, #asset stripping, #private equity, 

The Parasites of Western Economy, Part 5: Company Asset Strippers and Conspirators.


A company operates to generate profits to be distributed to its shareholders. Unfortunately, the sheeplike shareholders have allowed their own dividend incomes to be reduced over long periods. This injustice is spotted by PE that moved in and took away the unjustly accumulated assets. 

Generations of shareholders lost the assets owned but hidden from them. They blamed the PE but the it was really their management who set up the scene.

1. Steps leading to an Asset Stripping.

1. Company directors pay themselves and their associates extravagant fees and bonuses at the expense of shareholder dividends.

2. Company accountants receiving directions from their bosses and hides real situations from shareholders.

3. Dividend payouts are kept small under the guise of “retaining for future expansion”, so that directors payments can be made huge but admittedly some capital is actually accumulated “for future expansion”.

4. Earning/Price is now much smaller than Governments Bond rates (adjusted for inflation effect). 

5. Company assets become unknown after years of obfuscation by accountants  Earning capacity becomes uncertain but shareprices depend on it

6. Shareholders have been betrayed of trusts, got tired with begging for their rightly entitled dividends so they sold away shares at low prices.

7. PE (Private Equities) move in, buy enough shares to control the company.

8. Controling shares direct this asset rich company to enter into one sided loan agreements with the PE to siphon away the assets.

9. The company is then deregistered or declared bankrupt after its huge assets have been siphoned, making huge profits to the PE owning the controling shareholders.

10. The controling last shareholders are called the Asset Strippers. They siphon away the huge asset contributed by previous generations of shareholders leaving other creditors to the company with losses and company employees with unemployment and distress.

2. Are only Asset Strippers to be blamed.

Private Equities only do the economically logical thing of taking away the asset that did not produce adequate dividends. 

The real villains are the directors who betrayed their shareholders trust and caused shareholders to sell out. Shareholders have already given up on (or have been robbed of ?) their capitals when they accepted minuscule dividents for their capital contributed at IPO (Initial Public Offer).


3. Avoiding losses caused by Asset Stripping.

1. Dont own any shares if you can.

2. Investors should  not buy shares in any company unless they fully know its operation and director payments (see [2], A satirical guide to signs of an impending crash for small investors ).

3. Investors have to be very wary of companies with (Earning/Price + Growth rate) much lower than Government Bond rates. They may be the target of some PE take-over.

4. Company creditors should register their secure loans to the company. Reliance on the reputation of some 100 years old company names is not good enough for the present time. The current time is no time for inexperienced trade suppliers.

5. Company management should pay out all earning as dividends, declare its director payments and its assets to shareholders.

6. A company should not keep its assets hidden, should return surplus capital to shareholders to keep its Earning/Price higher than the (inflation adjusted) rate of Government Bonds. This will keep PE Asset Strippers well away.


4. Conclusions.

Private Equities are often blamed but the real villains are the directors who denied shareholders of their dividends and capital returns therefore drove shareprices to fractions of their true value.

Reference:

[1]. brick and mortar retail meltdown fueled by asset stripping details emerge in bankruptcy courts by wolf-richter,

https://straightlinelogic.com/2017/07/31/brick-and-mortar-retail-meltdown-fueled-by-asset-stripping-details-emerge-in-bankruptcy-courts-by-wolf-richter/, http://wolfstreet.com/2017/07/31/asset-stripping-pe-firms-fuels-brick-mortar-retail-meltdown/

[2]. tonytran2015, A satirical guide to signs of an impending crash for small investors, survivaltricks.wordpress.com, https://survivaltricks.wordpress.com/2017/01/25/a-satirical-guide-to-signs-of-an-impending-crash-for-small-investors/ , Jan 25, 2017?


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Living with a probable bubble market.

by tonytran2015 (Melbourne, Australia)

#bubble, #market, #speculate, #bankrupt, 


Living with a probable bubble market.


Please note that this blog is only a sharing of life experience. This blog does NOT give  any FINANCIAL ADVICES.

Whether it is a house for living in or a government bond with positive (and hopefully inflation compensated, if you can still find them) interest for incomes, or some shares of a listed company on your local share markets for gambling thrill plus income for few years, you don’t want to buy that when it is priced in a bubble market.

The following shows how to spot the signs of a bubble market.

1. A bubble market can badly burn your business plan.

A bubble market is one where the prices are too high for any long term plan and those prices are predicted to fall down to level afforded by buyers.


If you buy too high in a bubble market you will not be able to pay bank interests on your business loans and suffer an asset loss when the bubble bursts. You yourself may go bankrupt.


Even for a speculator planning to sell to a greater fool, there is still a real chance that he will be the last one holding the speculated stock !


2. Common excuses from sellers/marketers in a bubble market. 

2a. “The economy is different this time”: 

The dotcom’s excuse that clicks are more important than incomes in its “New Economy” has been an expensive lesson to many speculators.

The FUNDAMENTAL PRINCIPLE of economiccs is forever UNCHANGED: Money earned minus money spent is the left over in the cash box.

2b. The whole nation is asleep with only your seller and you staying awake to do the half baked financial analysis: 

This childish reasoning is not for reasonable investors.

2c. The seller is sharing privileged information with you:

If the information turns out to be false you will have no financial recourse to recover your money.

2d. A different plan is coming from the government this time and it will alter all financial planning ! 

However all government plans do follow the same method and the government has to uphold accountability. History should be a guide to those plans. 

All companies also want to avoid their plans revealed causing their unjustified expenses. Is your seller a good anticipator of their moves?


3. Characteristic of a bubble market. 

1. Price increases in a bubble market are not in line with historical records. The effects of any excuses given by sellers are still too small for the jump in prices.

2. The supplies and demands are one sided in a bubble market: The manipulators of the market have bought most available stocks before starting the game. 

They then increase the current purchase prices on the market to send up the value of their existing stocks to obtain even more loans from the banks. They then would off-load all their stocks at high price and realize their profits before any crash.


3. There are not a variety of sellers. This makes it easier for someone to manipulate the market.


4. The register of current owners has no increase in long term investors/businesses: Only speculators own the stocks and their prices are not justified by the benefit of ownership. All respectable investors have sold out their holdings when the prices have been high enough.

However, accessing the register may not be easy for ordinary investors.


5. If you can still comfortably operate your long term business in the market, facing all anticipated ups and downs, then that market definitely has NO BUBBLE to you and you may only just missed its cheapper period.  On the other hand, if you cannot operate your long term business in the market then that market IS A BUBBLE MARKET


4. Any bubble market still has its own long term buyers. 

Those people who just sold something into a bubble market can still immediately buy something else from it with that same amount of money. 

There are also investors who have to realize their capital gains every year and they will sell shares from one account while simultaneously buying back on another account. They do it to smooth out their yearly income taxes. 

For someone who has not sold anything into that bubble market he would be wise to GO FOR ANOTHER TYPE of investment and to come back to buy from that market only after the bubble has bursted. It may take a few year or even a very long while for the bubble to burst but by that time he would have made much more profit on the other type of investment.

5.  Conclusion.

If there is any suspicion that a market has become a bubble and you have not been involved in that market for a long while then you should GO FOR ANOTHER TYPE of investment while researching on it.

If the benefit of ownership is MUCH MORE than the payment of the purchase then the market is definitely not a bubble market for you, you just missed its cheaper period: You can still execute your purchase despite all talks about the any bubble bursting. 

References:

[1]. Greg Jericho,   http://www.theguardian.com, April 06, 2017.

[2]. Michael Janda, http://www.abc.net.au, May 29, 2017.

[3]. Jackson Stilesthenewdaily.com.au, June 02, 2017.

[4]. Lana Clementsthenewdaily.com.au, June 02, 2017.

[5]. Shane Hickeyhttp://www.theguardian.com, June 17, 2017.

[5]. Shane Hickeyhttp://www.theguardian.com, June 17, 2017.

 

 

 

 

 

 

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A satirical guide to signs of an impending crash for small investors

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Gold for storing wealth, posted on 28 April 2017
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Detecting counterfeit currency, Australian notes with transparent stripes.

by tonytran2015 (Melbourne, Australia).

Detecting couterfeit currency, Australian notes with transparent stripes.

#Australian, #Canadian, #UK, #Euro, #counterfeit, #currency, #detect, #dollar, #fake, #money, #polymer, #transparent stripe, #hologram

There are many countries in the world using polymer currency notes. Australia, Canada, the EU, UK are among them. The newest notes are made of polymer with a transparent stripe in their middles. Australian notes have attained in Asia the reputation of being counterfeit resistant. 
This posting shows the most effective ways to distinguish between real and counterfeit 2nd series Australian polymer notes having transparent stripes.
You need no tool for most of these tests but you may need to carry a genuine $5AUS note with you all the time as your sample. The tools for some of the tests are a high power (x10) magnifying glass and a UV LED torch. 

1. The transparent middle with metalic hographic features.

Australian note with a transparent stripe

Figure 1:An Australian note with a transparent stripe.




Australian note with a transparent stripe on white background

Figure 2: An Australian note with transparent stripe placed against a white background.
Since Australia has licensed its previous technology, its older manufacturing technique has been accessed by the organized counterfeiters and many counterfeit polymer $50AUD have appeared, creating hard problems for Australian traders. This occured after the counterfeiters had spent years experimenting with Vietnamese polymer notes using licensed Aistralian technology. A 2nd series of polymer dollars is now issued. The new series is intended to be ahead of the technology of counterfeiters. The technology in the new series is also used in UK, EU and Canadian notes. Anti-couterfeit features of the new notes rely mostly on the technology of holography and microprinting on polymers. These features are carried moatly  by the transparent stripes of the notes. 

To use the hologram fearures, we neef to distinguish the front and the back sides of each note. The back side of the new $5AUD note has the drawing of the Australian Parliament House,

All holographic fearures are to be VIEWED from THE BACK SIDE:

The 7 branched Australian Federation Star on the top of the transparent strip appears like a raised solid star: 1. Only the rim of that 7 corner star stays on the transparent sheet as a solid silvery metal line. 2. The the center of this holographic star appears to float about 3mm above the base.

The bird next to the Federation Star appears to flap its wings when the angle of view changes slowly.
The domed house on the bottom of the transparent strip has 3 pictures:
1. A domed house and its frontal 4 piers, 2. A figure 5, 3. A figure of a backward 5

2. The holographic gold coloured stamp on the top right of the back side

Figure: The gold coloured stamp on the top right of the backside of an Australian note with transparent stripe.

The gold coloured stamp on the top right of the backside has an irridescent line moving up and down as if it was 3mm below the stamp, Looking at the bird shaped clear window on the other side of the stamp, the irridescent line appears as of it was 3mm above the bird.

3. Integral clear plastic window with raised Federation Star and fully fused ink

Figure: The welded raised printed transparent plastic window of an Australian note with transparent stripe.

The raised transparent plastic window welded onto the bottom left of the back side has fine raised prints of the Australian Federation Star.

The clear window cannot be detached from the note (The test is by scratching the edge of the clear windows with your fingernails). The white colour on the rim have been fused into the polymer and can only be scratched off but cannot be rubbed off (The test for non-fused colours is by scratching the colours on the clear windows with your fingernails.) ===> These are effective features against counterfeits.

===> Counterfeiters are currently making only stuck on windows but they have produced clear windows with metal strips to make counterfeit $100 Canadian notes. (see [5].).

4.Fluorescent figures

Figure: Fluorescent figures and fine prints on the 5 AUD note with transparent stripe.

When placed under short wavelength UV light, the note has the following fluorescent figures. 

There are fluorescent figures of a green bird and a red tree on the bottom left of the front side. Only the bird has appeared in the above picture as the UV light used for taking that photo did not have short enough wavelength to show the red tree branch.

There are also figures of green year number in the center and green serial number on the left rim of the back side.

Note:
Counterfeiters have now used UV fluorescent ink [3].

5. Fine printing. 

Figure: Australian note with transparent stripe has fine printings on the steps of drawing of Parliament House. The characters are 0.3mm in height and are seen through a 30X magnification glass.



KarlMagn

Figure: A quality 10X magnifying glass for seeing fine features on currency notes.

There are fine printings on the 2nd series Australian polymer notes which compare well with the fine printing on the US cloth based notes. 

The characters of 0.3mm height in size are on the back side of the 5 AUD note, along the steps of the Parliament House.

===> You need to be familiar with these printings to check their quality.
Tools:
1. 10X magnifying glass. 2. You need to carry a $5 AUS note with you all the time to make non-arguable judgment on the print quality of notes.

6. Effective detection strategy.
The five features in the above order are in order of increasing difficulty. They are thus in the right order for an effective detection strategy. From my searches using the Internet, I have not found any case of counterfeit AUS dollars passing more than four of tests at such levels.
NOTES:
1. There are also UV torches sold to detect counterfeit currencies from most countries but high quality UV lights are required for this anti-counterfeit feature on many new notes. A high quality UV light source has UV of short wavelength and narrow spectrum with little visible light emitted. It is neither small nor cheap.

2. Iodine pens give yellow ink mark which darkens to brown on contact with starch from ordinary paper. These pens are sold to detect fake US dollars and will not work on polymer notes.

NOTES:
Counterfeiters have had decades of practice in counterfeiting Vietnamese polymer currency [3,4] (printed under technology licensed by Note Printing Australia), They have been operating with little risk of apprehension across the borders there and they are so confident that they openly advertised their counterfeits to ignorant greedy people at 30% of the values of genuine money.
They have now targeted the Australian polymer dollars. This is not a surprise as Australia is the first country to issue polymer currency (since 1988) but its currency notes are now lacking modern effective anti-counterfeit features such as holograms and tiny hidden printing. Five dollars notes are being replaced by these new ones with more modern design and gradually larger denomination notes will follow.

7. No more hidden image.

NOTE: 
There have been reports of counterfeits of Vietnamese polymer currency (made under license from Australia Note Printing) with crude hidden images [3].

8. No more creasing test on polymer base

The polymer for the 1st.series of Australian notes is soft, uncreasable but tough and is hard to tear at the edge. Counterfeit Australian dollars and counterfeit Vietnamese currency notes appearing in Vietnam are mostly made from non-tough materials [3].
Recovery and toughness tests are carried out by scrunching and by stretching the edge with your fingers . The note will spring back and will not be torn. ===>This test is good for 1st series Australian $50 notes, the genuine note will be replaced free of charge with a new one at any Australian bank if it is not that tough. Many counterfeit $50 notes have been detected by this test in the State of Queensland.

However the transparent stripe section and the hologram prints of the 2nd series are not that tough and that uncrunchable. 

The creasing test should not be applied to the new 2nd series notes.


9. Reducing your exposure to counterfeir currency when TRAVELING.

When traveling and using unfamiliar currency or when your senses are not acute, you can reduce your risk to counterfeit currency by adopting the following cautionary habits:

9.1. Do NOT EXPECT that you may get any CHANGE in countries like Vietnam,  let alone receiving changes in genuine notes !

They always think that you will spend like drunken sailors, have the duty to give them the changes as tips and never need to get back any change !

Hide all you money (even from your guides and local acquaintances) and only let them know that little part you have planned for dealing with them. This prevents any robbery being planned on you. Indeed, your local acquaintances may plan a robbery on you when you make a farewell party to them (I know this first hand) !

9.2. When traveling outside Australia, do NOT show or give a retailer any high value note unless they are READY to give you your changes in GENUINE NOTES.  This prevents them from grabbing your note then refuse to give you the change.

Do NOT let them pass your note around to ask for changes: The note may come back to you but substituted by a fake one along the way.

9.3. Carry a variety of high value notes so that you can always combine them to pay each of the purchase charges without receiving any change in high value notes. 

9.4 Count all your changes before going for the next purchase.

9..5. Only receive high value currency notes from registered banks (They are obliged to check currency notes when receiving and give you genuine usable notes).

9.6. Ask the banks to give you the combinations suitable for your trip until your next bank visit. 

9.7. When traveling outside Australia build up and keep a stack (about 50) of small value notes to save yourself from asking for changes from sellers. They will pretend not having any and asking you for tips ! Hide it from retailers as they will try to get it off you by any mean to corner you into not receiving changes!.

10. Tactile information.

There are raised marks on the new 5 AUD note to tell its value using only touches.
11. Unused very effective available 1st line of defence: Holograms.

hologramvnd

Figure 1: Looking at a LED torch through the anti-counterfeit hologram window of a Vietnamese polymer note reveals a hard to counterfeit pattern. es from left to right.

Note Printing Australia, a wholly owned subsidiary of the Reserve Bank of Australia has provided Vietnamese money Printer with a hologram technology for anti-counterfeiting. The technology has been applied to the Vietnamese currency worth more than $2US. This hologram method currently appears to be the MOST EFFECTIVE first defense line against counterfeit notes.
The new 100 US dollar notes have a blue hologram bands with tiny pictures of the number 100 in checker pattern. When the viewed at varying angle from left to right these patterns smoothly move downward as if they float on the notes.
Canadian 20 dollar notes have both see through and metallic holograms. Hologram technology should be added to Australian notes.
12. Unused very effective available 2nd line of defence: Burried hidden small print or a security wire
secureline

.Figure : Small print is hidden inside the base material of a US currency note made of cloth material.

Small print buried inside the base material now replaces the old metallic wire buried inside the base material. It is seen when the note is hold up against a strong background light. The technology has been applied to Vietnamese notes, it would be an effective addition to Australian notes.
===> Counterfeiters have produced hidden figures but they are too crude for security small prints.

13. Unused very effective available 3rd line of defence: Iridescent ink for features.

iridvndusd
Figure: The gold coloured ink for the emblem of a coiled reptile (?) on a Vietnamese note is claimed to change to a grey metallic colour (left part of the composite photo) when viewed from a glancing angle under daylight. The technology has been shown applicable to polymer notes.

 On a cloth based $100 US note, the picture of a bell in a bottle can be made to clearly change from bronze to green by shining a strong light beam at normal and at glancing angle. The test is easy when you have a LED torch to shine a strong light beam onto the ink and change the beam angle from normal to glancing.
The technology has been applied to Vietnamese polymer notes with less effectiveness. The gold coloured ink for the emblem of a coiled reptile (?) on a Vietnamese note is claimed by Vietnamese State Bank to change to a grey metallic colour when viewed from a glancing angle under daylight. Although this anti-counterfeit feature does not seem to work well on Vietnamese polymer notes but could be made better if adopted on Australian notes.

14. Unused very effective available 4th line of defence: Magnetic ink.

magntest

Figure 1: The ink on any genuine US note is magnetic and is clearly seen attracted by a fridge magnet.

When holding the rectangular note vertically by grabbing its upper short side, you can easily see that the ink on the US dollar notes is attracted by a fridge magnet hold in the other hand.
Tool: You need a ceramic fridge magnet for this test.
It is desirable to have this technology added to polymer notes.

References.
[1]. Chris Vedelago, Cameron Houston, Australia flooded with fake $50 notes so good they fool banks, The Courier, http://www.thecourier.com.au/story/3757999/austral…, posted 28 Feb 2016.
[2]. Counterfeit Detection Guide, Could you spot a counterfeit banknote?, Reserve Bank of Australia, http://banknotes.rba.gov.au/counterfeit-detection…, accessed 20 July, 2016.
[3]. M.Anh, Cách nhận biết tiền giả 200.000 đồng, Báo VietNamNet,
http://vietnamnet.vn/vn/kinh-doanh/285822/cach-nha… posted 26/01/2016
[4]. Bắt khẩn cấp kẻ rao bán tiền giả trên Facebook, Báo VietNamNet, http://vietnamnet.vn/vn/kinh-doanh/287820/bat-kha…, posted 02/02/2016
[5]. Security Features, Bank of Canada, http://www.bankofcanada.ca/banknotes/bank-note-ser…, accessed 20 July 2016.
[6]. tonytran2015, Detecting Counterfeit Currency, US dollars, survivaltricks.wordpress.com, https://survivaltricks.wordpress.com/2016/07/15/detecting-counterfeit-currency-us-dollars/ … posted on Jul 15, 2016.

Relevant MONEY blogs:

Detecting Counterfeit Currency, US dollars, posted on July 15, 2016

Hologram

Detecting counterfeit currency, Australian dollars., posted on November 15, 2016

fineprint50dollar

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