CENTRAL BANKS BUYING GOLD - CENTRAL BANKS


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Central Banks Buying Gold





central banks buying gold






    central banks
  • A national bank that provides financial and banking services for its country's government and commercial banking system, as well as implementing the government's monetary policy and issuing currency

  • A central bank, reserve bank, or monetary authority is a banking institution granted the exclusive privilege to lend a government its currency.

  • typically have the following activities that may differ in each country:





    buying gold
  • Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a hedge or safe haven against any economic, political, social, or fiat currency crises (including investment market declines, burgeoning national debt, currency failure, inflation, war and











central banks buying gold - Central Banking




Central Banking in Theory and Practice (Lionel Robbins Lectures)


Central Banking in Theory and Practice (Lionel Robbins Lectures)



Alan S. Blinder offers the dual perspective of a leading academic macroeconomist who served a stint as Vice-Chairman of the Federal Reserve Board--one who practiced what he had long preached and then returned to academia to write about it. He tells central bankers how they might better incorporate academic knowledge and thinking into the conduct of monetary policy, and he tells scholars how they might reorient their research to be more attuned to reality and thus more useful to central bankers.Based on the 1996 Lionel Robbins Lectures, this readable book deals succinctly, in a nontechnical manner, with a wide variety of issues in monetary policy. The book also includes the author's suggested solution to an age-old problem in monetary theory: what it means for monetary policy to be "neutral."










81% (10)





Former East River Savings Bank




Former East River Savings Bank





Morningside, Manhattan, New York City, New York, United States

The East River Savings Bank, prominently located on the northeast corner of Amsterdam Avenue and West 96th Street, was built in 1926-27, and was enlarged in 1931-32. Both phases of the building were designed by the architectural firm of Walker & Gillette, noted for its many residential, commercial, and institutional commissions, including the bank's 1933-34 Cortlandt Street headquarters building. The 96th Street branch is a distinguished design that continues the classical tradition for savings banks prevalent since the nineteenth century.

While using the traditional vocabulary of classical architecture, the executed design shows a spareness and understatement that reflects the modernist trends of the period. The building has two major limestone-clad facades, which are dominated by giant Ionic columns. The Amsterdam Avenue facade was doubled in size when the building was enlarged. The columns flank paired pedimented entrances on Amsterdam Avenue and recessed double-height windows lighting the main banking room on both Amsterdam Avenue and West 96th Street. A boldly-scaled entablature and parapet enclose a penthouse floor. The building, which is a reminder of the important role that savings banks have played in their communities, remains largely intact.

DESCRIPTION AND ANALYSIS
The Development of the Upper West Side

The Upper West Side was largely undeveloped until the 1880s. Until urbanization at the end of the nineteenth century, the area was known as Bloomingdale, a name derived from the Dutch settlers who called the area Bloemendael after a flower- growing region in Holland. By the eighteenth century the Bloomingdale Road (later known as Broadway), following the course of the old Indian trail, provided the main link to lower Manhattan, encouraging the growth of small clusters of villages and the establishment of country estates in the adjoining areas by wealthy New York families.

The Upper West Side was included in the Commissioner's map of 1811, which outlined New York's street grid, although the area remained essentially rural and most of the streets were not laid out until after the Civil War. Land speculation, fueled in the post-war years by the creation of Central Park, continued throughout the 1870s despite wild vacillations in prices caused by the panic of 1873. In addition to Central Park, other amenities made the Bloomingdale section attractive to developers. Plans for Riverside Drive and Park were undertaken in 1876, and completed in 1900. Transportation improvements, such as horse car service on Broadway (begun 1878), the Ninth Avenue Elevated Railroad (completed 1879), and cable traction cars along Amsterdam Avenue (1885) further stimulated speculative interest. From the time that development began in earnest on the Upper West Side, single-family row houses were built on the side streets and tenements and flats with ground floor stores were built on the avenues because the noisy transportation lines made them less desirable for the development of rowhouses.

Electrical lines were installed on the Upper West Side in 1896; two years later, the surface transportation lines on Amsterdam Avenue and Broadway were electrified; and in 1904, the Broadway IRT subway line was completed with stations at West 72nd, 79th, 86th, 91st, and 96th Streets. With these improvements, taller elevator hotels and apartment buildings appeared, especially on Broadway, Amsterdam Avenue, and Central Park West. During the period between World War I and the Depression, a wave of redevelopment substantially modified the character of the area. Most notable was the huge boom in apartment building construction between 1919 and 1931. These buildings were representative of a city- wide development boom, spurred by favorable economic conditions and commercial expansion. Many of the earlier rowhouses were converted to multiple- family dwellings following an amendment of the Tenement House Law in 1919, allowing for such conversions. Many other rowhouses were demolished for the construction of apartment buildings in the mid- 1920s. Speculators were buying dwellings toward this end, anticipating enhanced property values upon completion of the Eighth Avenue Independent (IND) subway. It was during this period of growth that the East River Savings Bank initially established itself on Amsterdam Avenue and West 96th Street. With the onset of the Depression in 1929, construction in the area all but halted, although East River was successful enough to expand its operations by enlarging the original building (see below). During the 1960s and 1970s parts of the Upper West Side were the focus of Federal and State Urban Renewal activity, including the area surrounding the East River Savings Bank. The project involved die erection of two public schools; the rehabilitation of flats, tenements, and rowhouses; the issuance of federal loans for the refurbishment of apartment b











(Former) East River Savings Bank




(Former) East River Savings Bank





Upper West Side, Manhattan, New York City, New York, United States

The East River Savings Bank, prominently located on the northeast corner of Amsterdam Avenue and West 96th Street, was built in 1926-27, and was enlarged in 1931-32. Both phases of the building were designed by the architectural firm of Walker & Gillette, noted for its many residential, commercial, and institutional commissions, including the bank's 1933-34 Cortlandt Street headquarters building. The 96th Street branch is a distinguished design that continues the classical tradition for savings banks prevalent since the nineteenth century. While using the traditional vocabulary of classical architecture, the executed design shows a spareness and understatement that reflects the modernist trends of the period. The building has two major limestone-clad facades, which are dominated by giant Ionic columns. The Amsterdam Avenue facade was doubled in size when the building was enlarged. The columns flank paired pedimented entrances on Amsterdam Avenue and recessed double-height windows lighting the main banking room on both Amsterdam Avenue and West 96th Street. A boldly-scaled entablature and parapet enclose a penthouse floor. The building, which is a reminder of the important role that savings banks have played in their communities, remains largely intact.

DESCRIPTION AND ANALYSIS
The Development of the Upper West Side

The Upper West Side was largely undeveloped until the 1880s. Until urbanization at the end of the nineteenth century, the area was known as Bloomingdale, a name derived from the Dutch settlers who called the area Bloemendael after a flower- growing region in Holland. By the eighteenth century the Bloomingdale Road (later known as Broadway), following the course of the old Indian trail, provided the main link to lower Manhattan, encouraging the growth of small clusters of villages and the establishment of country estates in the adjoining areas by wealthy New York families.

The Upper West Side was included in the Commissioner's map of 1811, which outlined New York's street grid, although the area remained essentially rural and most of the streets were not laid out until after the Civil War. Land speculation, fueled in the post-war years by the creation of Central Park, continued throughout the 1870s despite wild vacillations in prices caused by the panic of 1873. In addition to Central Park, other amenities made the Bloomingdale section attractive to developers. Plans for Riverside Drive and Park were undertaken in 1876, and completed in 1900. Transportation improvements, such as horse car service on Broadway (begun 1878), the Ninth Avenue Elevated Railroad (completed 1879), and cable traction cars along Amsterdam Avenue (1885) further stimulated speculative interest. From the time that development began in earnest on the Upper West Side, single-family row houses were built on the side streets and tenements and flats with ground floor stores were built on the avenues because the noisy transportation lines made them less desirable for the development of rowhouses.

Electrical lines were installed on the Upper West Side in 1896; two years later, the surface transportation lines on Amsterdam Avenue and Broadway were electrified; and in 1904, the Broadway IRT subway line was completed with stations at West 72nd, 79th, 86th, 91st, and 96th Streets. With these improvements, taller elevator hotels and apartment buildings appeared, especially on Broadway, Amsterdam Avenue, and Central Park West. During the period between World War I and the Depression, a wave of redevelopment substantially modified the character of the area. Most notable was the huge boom in apartment building construction between 1919 and 1931. These buildings were representative of a city- wide development boom, spurred by favorable economic conditions and commercial expansion. Many of the earlier rowhouses were converted to multiple- family dwellings following an amendment of the Tenement House Law in 1919, allowing for such conversions. Many other rowhouses were demolished for the construction of apartment buildings in the mid- 1920s. Speculators were buying dwellings toward this end, anticipating enhanced property values upon completion of the Eighth Avenue Independent (IND) subway. It was during this period of growth that the East River Savings Bank initially established itself on Amsterdam Avenue and West 96th Street. With the onset of the Depression in 1929, construction in the area all but halted, although East River was successful enough to expand its operations by enlarging the original building (see below). During the 1960s and 1970s parts of the Upper West Side were the focus of Federal and State Urban Renewal activity, including the area surrounding the East River Savings Bank. The project involved die erection of two public schools; the rehabilitation of flats, tenements, and rowhouses; the issuance of federal loans for the refurbishment of apartment









central banks buying gold








central banks buying gold




Banking on the Future: The Fall and Rise of Central Banking






The crash of 2008 revealed that the world's central banks had failed to offset the financial imbalances that led to the crisis, and lacked the tools to respond effectively. What lessons should central banks learn from the experience, and how, in a global financial system, should cooperation between them be enhanced? Banking on the Future provides a fascinating insider's look into how central banks have evolved and why they are critical to the functioning of market economies. The book asks whether, in light of the recent economic fallout, the central banking model needs radical reform.
Supported by interviews with leading central bankers from around the world, and informed by the latest academic research, Banking on the Future considers such current issues as the place of asset prices and credit growth in anti-inflation policy, the appropriate role for central banks in banking supervision, the ways in which central banks provide liquidity to markets, the efficiency and cost-effectiveness of central banks, the culture and individuals working in these institutions, as well as the particular issues facing emerging markets and Islamic finance. Howard Davies and David Green set out detailed policy recommendations, including a reformulation of monetary policy, better metrics for financial stability, closer links with regulators, and a stronger emphasis on international cooperation.
Exploring a crucial sector of the global economic system, Banking on the Future offers new ideas for restoring financial strength to the foundations of central banking.










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