Fiverr.com: What Texans Will Do For Five Bucks

By Craig Malisow
From http://blogs.houstonpress.com/

For sale, cheap: Critiques of your dating profile

​

Hair Balls has five bucks burning a hole in our pocket, and we're thinking about spending it on a postcard from a Houston-based model no one's ever heard of. Or possibly a Texas State Fair award-winning pecan pie recipe.

The problem is, there are just so many awesome things we can get for a five-spot on www.fiverr.com, a website where people offer random/borderline sociopathic services, and we need your help making the right choice. Here are five things Texans will do for $5. We don't know how to feel about this.

1) This woman from Houston will "like any facebook page, follow any twitter account, and subscribe to any youtube channel." If NAMBLA has any social media presence, we're totally taking her up on this.

2) Melany will talk to us "over Skype for 10 minutes." Topics include, but are not limited to, "fashion advice, hair styling, makeup, boyfriend/girlfriend advice, school issues, bullies, etc." Given Melany's apparent young age, we don't know how far to go with the joke possibilities without popping up on some FBI radar, so we're going to leave this one alone.

3) This dude will "post your band sticker on the most popular street in austin texas, s. congress." We were going to go with this right away until we remembered that we weren't douchebags.

4) This woman, who is licensed to practice law in Texas, "will send you a photo of the world's cutest dog, my Scottie glen, with your choice of pose and personalixed message, and all proceeds go to local animal rescues...." She had us at "your choice of pose." But since she also provides a service whereby she'll critique your online dating profile and pic "with brutal honesty," we'd like to get all meta and use the pic of her and her dog as our profile pic, thus making her critque her own picture, and her own dog. That shit's deep.

5) Of course, we've always dreamed of having a message carved into a tree behind a complete stranger's house, so you can imagine our near heart attack when we came upon maliciousdelano's offer: "Send me your name and whatever message you want carved into a tree behind my house."

We were also intrigued that maliciousdelano's 8-year-old son "wants to try his hand at selling online also!" He'll paint you a picture of anything for $5. But based on the samples his mother has posted, the lad has no sense of advancing and receding colors, atmospheric perspective, negative space, or, for that matter, basic perspective: in a truly haunting portrait of what appears to be a deranged man in blue coveralls and wizard hat and his dog on a boat, moments before they're devoured by a phalanx of headless, multi-colored sea-birds whose terrifying wingspans nearly blot out the entire sky, the man's hand is practically as large as his head. What the fuck, Michael? That's worth a buck-fifty at the most. But if we give you $5, will you promise not to blow it on Legos like you say, but to invest in art school instead?

Let us know if you find any other good offers, 'cause the holidays are right around the corner, and we've got a ton of gifts to buy.

The man who lives without money

Mark Boyle gave up using cash over a year ago and loves his new lifestyle.

By Jessica Salter

From: http://www.telegraph.co.uk/

Mark Boyle, the moneyless man

Mark Boyle, 31, gave up using money in November 2008. He lives in a caravan that he got from Freecycle (uk.freecycle.org), which is parked at an organic farm near Bristol, where Boyle volunteers three days a week. He grows his own food, has a wood-burning stove and produces electricity from a solar panel (it cost £360 before the experiment started). He has a mobile phone for incoming calls only and a solar-powered laptop. Boyle, who has been vegan for six years, set up the Freeconomy in 2007 (justfortheloveofit.org), an online network that encourages people to share skills or possessions and now has 17,000 members. The Moneyless Man: A Year of Freeconomic Living (Oneworld Publications, £10.99) is out now.

It all started in a pub. My friend and I were talking about all the problems in the world, such as sweatshops, environmental destruction, factory farms, animal testing, wars over resources. I realised they were all, in their own way, connected to money.

I decided to give up cash. I sold my houseboat in Bristol and gave up my job at an organic food company. I made a list of everything I bought and tried to figure out which I could get in another way. For toothpaste I use a mixture of cuttlefish bone and wild fennel seeds. Things like iPods you just have to knock off the list, but birds in the trees around my kitchen have become my new iPod.

Everything takes more time and effort in a moneyless world. Handwashing my clothes in a sink of cold water, using laundry liquid made by boiling up nuts on my rocket stove, can take two hours, instead of half an hour using a washing machine.

It was meant to be just for a year but I enjoy the lifestyle so much that I’m just going to keep living like this. I’ve never been happier or fitter.

I had a very normal childhood. I think at first my parents wondered what on earth I was doing. But now they totally support me and they say that they may even try it themselves.

Sometimes it is frustrating trying to socialise with no money. I grew up in Northern Ireland where it’s a show of manliness to buy your mates the first round. But I invite them back to my caravan instead to have homemade cider around the campfire.

I am single at the moment, but because of the book and my blog a few women seem interested in me. Just being a vegan cuts down the number of women I’m compatible with, never mind being moneyless. I’ll be lucky if there’s one woman in the whole country who wants to give up cash for life – and I might not even fancy her.

The 16 Hottest Billionaire Daughters

by: joePA
from: http://www.brobible.com/

Just like banging a porn star and hooking up with a cougar housewife during a blackout bender in Vegas, dating the successor to a billion-dollar fortune should be pretty high on every Bro's bucket list. Just think, while your drinking buddies are slaving away in middle management waiting for happy hour, you can be spending your summer Fridays teeing up on a golf course her father owns or jetting off via Gulfstream to her family's bungalow in Saint Tropez. Unfortunately, there's more bros in the world than hot billionaire daughters, so the odds of shacking up with a 10-figure heiress are probably just as slim as being the coveted third notch in Meagan Fox's bedpost.

Billionaire daughters have a bad rap as high-maintenance trust fund babies and socialite ladies of pleasure. Also, let's not forget that wealth is not always synonymous with good genes. Not every tycoon and captain of industry in the exclusive billionaires' club has drop-dead gorgeous offspring. In order to help you navigate the tiny sea of billionaire darlings, we've compiled a 16-item guide to the hottest billionaire daughters in the world. What would it take to date one of these girls? Besides being a professional athlete or a Hollywood A-lister, the obvious answer is a parent or family member with a similar position on the Forbes list. Connections and opportunity are everything when it comes to bringing a date home to a daddy who's in the upper stratosphere of world wealth. Most of the selections are industrious and individuals who work hard to fill the giant shoes of their family's business legacy and financial accomplishments. Of course, others are simply hard-partying runway models. Enjoy the hotties after the jump.

Marta Ortega Pérez

Age: 26

Billionaire Father: Amancio Ortega Gaona

Family Fortune: $25 billion

Position on 2010 Forbes Billionaire List: #9

Three years ago Amancio Ortega Gaona's youngest daughter, Marta Perez, began her quest to inherit her father's Inditex fashion retail empire with a no-frills job stocking shelves and dealing with customers service at a Bershka fashion store. Inditex now boasts some 4,500 stores in 73 countries, including chichi designer brands such as Bershka, Stradivarius, Massimo Dutti, and the massive Zara chain. The daughter of Spain's richest man is reported to be an avid equestrian and still single, so a little horse whispering might be the quickest way to winning the heart of this billionaire heiresses.

Ivanka Trump

Age: 28

Billionaire Father: Donald Trump

Family Fortune: $2 billion

Position on 2010 Forbes Billionaire List: #488

If being an attention whore is a disease, it must run in the Trump family. The Donald's sexy Wharton-alum daughter has been adorning magazine covers since 1997 and an "Apprentice" boardroom fixture since 2006. The daughter to Donald's ex-wife Ivana, Ivanka was a runway model before entering the family business. In October 2009, Ivanka dashed the hopes of aspiring underlings everywhere by converting to Judaism and marrying real estate heir and media upstart Jared Kushner.

Anna Anisimova

Age: 23

Billionaire Father: Vasily Anisimov

Family Fortune: $1.6 billion

Position on 2010 Forbes Billionaire List: #616

In May 2005, a young Manhattan model became a nightlife party girl with a lot of buzz when New York magazine published a exclusive profile about her gallivanting. Widely recognized as "the Russian Paris Hilton," Anna Anisimova's enterprising Russian father amassed his billions by establishing a prosperous aluminum mining company after the Soviet Union collapsed. Now an NYU student, Anna's freewheelin' spending habits on premium real estate have raised the media's collective eye-brow. Her dad once fronted her $550,000 in cash for a summer rental in Southampton, New York. It's also been reported that she dipped into daddy's wallet for a $23 million West Village townhouse that she converted into condos and a $15 million crash pad in the Time Warner Center.

Paige Johnson

Age: 24

Billionaire Father: Robert Johnson

Family Fortune: $1 billion (2008)

Position on 2010 Forbes Billionaire List: #1,062 (2008)

Robert Johnson, the visionary founder and CEO of BET, became the first African-American billionaire in 2001. One year later he started the Charlotte Bobcats NBA team, earning another page in the history books as the first African-American principle owner of a sports team. His daughter Paige, grew up in the Washington D.C. area and claims to be quite the horse enthusiast. In 2009, Forbes revoked her father's ticket to the billionaires club, reporting that Johnson's fortune shrunk by almost half. To make matters worse, last week the Daily Beast speculated that Johnson's recent sale of the Bobcats to Michael Jordan reflects his dire financial situation.

Charlotte Casiraghi

Age: 23

Billionaire Family: Grimaldi Family of Monaco

Family Fortune: $1 billion

A granddaughter to the late Grace Kelly and an eligible heir to the throne of Monaco, Charlotte Casiraghi is a 23-year-old editor-at-large for Above fashion magazine. Her inheritance isn't limited to her grandfather's royal fortune and her grandmother's good looks. At the age of 17, this elegant fashionsita was gifted a private island off the coast of Sardinia.

Amanda Hearst

Age: 26

Billionaire Family: The Hearst family

Family Fortune: $1.5 billion

The great granddaughter of one of America's first media moguls, William Randolph Hearst, is a smoking'-hot model who graduated from Fordham.

Holly Branson

Age: 28

Billionaire Father: Richard Branson

Family Fortune: $4 billion

Position on 2010 Forbes Billionaire List: #212

Rather than milking her father's fortune from the Virgin empire, Richard Branson's bombshell daughter briefly decided to pursue a pediatric medical degree at University College in London. After smelling the roses that her father is one of the coolest billionaires in the world, Holly left her medical ambitions to intern at Virgin and begin the climb up the company ladder. Although she's still single, there's been tabloid speculation that she might be a suitor to Prince William.

Tamara Ecclestone

Age: 25

Billionaire Father: Bernard Ecclestone

Family Fortune: $4 billion

Position on 2010 Forbes Billionaire List: #212

Tamara Ecclestone's father, Bernard, has managed to capitalize on the explosion of interest in F-1 racing around the world, tying him with Richard Branson at the #212 spot on the 2010 Forbes list. Tamara works as a racing television host in Britain and her Croatian mother is a former Armani model.

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Dylan Lauren

Age: 36

Billionaire Father: Ralph Lauren

Family Fortune: $4.6 billion

Position on 2010 Forbes Billionaire List: #173

Ralph Lauren's Polo empire began in a working-class neighborhood in the Bronx and blossomed into the most iconic American fashion success story. Ralph's oldest daughter Dylan is the brainchild behind Dylan's Candy Bar, a boutique candy store with locations in New York, Houston, and Orlando. At 36 years old, she's definitely moving into cougar territory, but still brings fiery good looks. It's an obvious sign she's not overindulging on the sweets.

Ariana Rockefeller

Age: 27/28

Billionaire Grandfather: David Rockerfeller Sr.

Family Fortune: $2.2 billion

Position on 2010 Forbes Billionaire List: #47 Ariana's last name is Rockefeller -- as in John Rockerfeller -- which tells us she's a future heiress of a family that built it's fortune on Texas gold. Her father, David Rockerfeller Jr., manages the an estimated three billion in assets through Rockefeller Financial Services, which holds court in the family's namesake midtown Manhattan plaza.

Josie Ho Chiu Yi

Age: 35

Billionaire Father: Stanley Ho

Family Fortune: $2 billion

Position on 2010 Forbes Billionaire List: #488

Stanley Ho is a self-made Hong Kong-based developer who built his fortune by investing in casino and gambling operations in Macau. Two years ago the New York Times called his 35-year-old daughter Josie Ho one of the "most recognized faces in Chinese entertainment," even though her movies and television shows are barley a blip on the radar in the United States.

Georgina Bloomberg

Age: 27

Billionaire Father: Michael Bloomberg

Family Fortune: $18 billion

Position on 2010 Forbes Billionaire List: #23

Georgina Bloomberg, the daughter to New York City Mayor Michael Bloomberg, is both an accomplished equestrian and New York Knicks fan, where she's frequently spotted with her billionaire father. In November, Georgina dished to Page Six magazine about choosing an equestrian career over college and her father's meteoric rise on the billionaire list. Most recently Georgina landed a sports modeling deal.

Hind Hariri

Age: 26

Billionaire Father: Rafik Hariri

Family Fortune: $1.1 billion (2008)

Position on 2010 Forbes Billionaire List: #1014 (2008)

When billionaire Lebanese Prime Minister Rafik Hariri was assassinated in 2005, his youngest daughter inherited an estimated $1.1 billion from her father's oil exploration and contracting fortune. Before getting married, Hind was a fixture on the Parisian fashion scene.

Samantha Perelman

Age: 19 or 20? (born in 1990)

Billionaire Father: Ron Pearlman

Family Fortune: $11 billion

Position on 2010 Forbes Billionaire List: #52

The daughter of billionaire Cigar Aficionado investor and leveraged-buyout king Ron Pearlman attended the University of Pennsylvania, where the Pearlman family name adorns a campus quad. While billionaire heiresses don't tend to share their thoughts online, she's one of the few on this list besides Paris Hilton that you can follow on Twitter.

Paris and Nikki Hilton

Age: 29

Billionaire Grandfather: William Hilton

Family Fortune: $2.5 billion

Position on 2010 Forbes Billionaire List: #374

You didn't think we'd snub the hottest mess in Hollywood from a list of billionaire daughters, did you? Unflattering words such as "cretin," "good for nothing," and "dunderhead" are often associated with the "One Night In Paris" co-star and her socialite younger sister. Fortunately, her grandfather William Hilton -- the head of Hilton Hotels and son of the company's founder, Conrad Hilton -- has pledged most of the Hilton Hotel fortune to charity, so it's doubtful we'll ever see this amateur porn star and her tabloid fixture sis join ranks with the other billionaire daughters on this list.

Kathrine and Cecilie Fredriksen

Age: 25

Billionaire Father: John Fredriksen

Family Fortune: $7.7 billion

Position on 2010 Forbes Billionaire List: #88

Norwegian-born shipping magnate John Fredriksen has been called "a modern day Onassis." The shipping tycoon has amassed an impressive fortune by building oil tankers and drilling equipment for maritime oil exploration. His 25-year old twin daughters are Scandinavian smoke shows who work in companies controlled by their billionaire dad.

10 Artworks Made of Money

See the masterpieces these artists created from currency

By Brynn Mannino

from WomansDay.com

We all know the image of the poor, starving artist, but the reality is, it can be costly to create art. Whether for supplies, workspace or even classes, most artists are constantly throwing money

into their passion—but there are a select few who do it literally. These creative minds take cold, hard cash and turn it into art. So read on for 10 masterpieces made of money.

“Money Dress” by Dave Cole

Made of 1,000 unused single dollar bills, which Cole cut into raw materials, this 66" x 30" x 14" dress was displayed in the 2007 Radical Lace & Subversive Knitting exhibit at New York City’s Museum of Arts and Design, which was devoted to “using fiber in unexpected and unorthodox ways.” Photo courtesy of Clayton Parker via Flickr.com.

“Money Boat” by Qinyi “Raymond” Yu

This 3’-long x 4’-tall boat—currently on display at Yu’s Mandarin Island Chinese Restaurant in Mission Hill, California—showcases traditional Chinese paper art. According to Bob Nienhuis’ website dedicated to Traditional Chinese Paper Arts, Yu used over 20,000 modular units to create the structure, which took approximately six months to complete. Photo courtesy of WestWorld.com.

“Absolute Power” by Justine Smith

The London-based artist built this 7.5" x 5" x 1.5" handgun sculpture out of U.S. dollar bills and plastic in 2005. She says her work “examines our relationship with money in a political, moral and social sense, while also taking advantage of the physical beauty of the notes.” Photo courtesy of Justine Smith.

“Washington” by Justine Smith

Smith, whose work is currently featured in the collections of the British Council and the UK Government Art Collection, created this 3.5" x 15" x 9" model of a dog in 2005 using multiple U.S. dollars along with resin and leather. Photo courtesy of Justine Smith.

“Obama vs. McCain” by Theodore Stanke

Brooklyn-based Stanke created this mosaic in the month leading up to 2008 presidential election. Created from adhesives and chopped-up American coins—Obama from pennies and nickels, McCain from quarters, dimes and dollars—the mosaic was intended to depict the distribution of wealth backing each candidate. The piece took 10 days to create and is currently for sale at Bunga’s Den in Manhattan. Photo courtesy of Ted Stanke.

“One Dollar Koi” by Won Park

Famed Japanese origami artist Won Park is known for using the U.S. dollar bill to create his detailed designs. Won even shares the secrets of his trade in a step-by-step video tutorial on his blog “Have Paper, Will Travel.” Photo courtesy of Won Park.

“One Dollar Camera” by Won Park

Park also created this tiny camera out of a “Won” dollar bill, as he refers to it, using the same unbroken folding technique showcased above. Photo courtesy of Won Park.

“Carpenter’s Tools” by Stacey Lee Webber

These three tools, constructed out of pre-1992 copper pennies, are part of Webber’s “The Craftsmen Series.” The artist hand-cut the pennies and soldered them together to create hollow, 3-D replicas of existing hand tools. She has said that they are synonymous with house construction and money is the reward for hours of labor and sweat. Photo courtesy of Stacey Lee Webber.

“Queen Elizabeth II” by Unknown

This paper portrait of the Supreme Governor of the Church of England displays “money-gami” at its best. Though a simple concept, constructing a leader out of his/her region’s currency produces impressive results. Photo courtesy of Close the World via Flickr.

“Paris Skyline” by Unknown

Each bill in this artist’s collection depicts a cut-out of a skyline or famous landmark, all instantly recognizable. In this example, we love the jutting Eiffel Tower beside the famous Arc de Triomphe. Photo courtesy of Spluch via Flickr.com.

The Net Worth of the U.S. Presidents: Washington to Obama

From: http://www.theatlantic.com/

Having examined the finances of all 43 presidents (yes, 43; remember, Cleveland was president twice), we calculated the net worth figures for each in 2010 dollars. Because a number of presidents, particularly in the early 19th Century, made and lost huge fortunes in a matter of a few years, the number for each man is based on his net worth at its peak.

We have taken into account hard assets like land, estimated lifetime savings based on work history, inheritance, homes, and money paid for services, which include things as diverse as their salary as Collector of Customs at the Port of New York to membership on Fortune 500 boards. Royalties on books have also been taken into account, along with ownership of companies and yields from family estates.

The net worth of the presidents varies widely. George Washington was worth more than half a billion in today's dollars. Several presidents went bankrupt.

Click here for the full article and dollar figures: The Net Worth of the U.S. Presidents: Washington to Obama

Douglas A. McIntyre, Michael B. Sauter, and Ashley C. Allen - Douglas A. McIntyre, Michael B. Sauter, and Ashley C. Allen are editors of 24/7 Wall St., a Delaware-based financial news and opinion operation that produces content for sites including MarketWatch, DailyFinance, Yahoo! Finance, and TheStreet.com.

Counterfeiters' dirty trick: Bleaching bills is counterfeiters' trick

Doug Guthrie / The Detroit News

dguthrie@detnews.com

Plymouth

Crafty counterfeiters are giving a new meaning to the term money laundering. Crooks are circumventing technology intended to stop fraud by washing or bleaching the ink from lower-denomination bills and reprinting them as larger denominations with sophisticated computer scanners and printers.

The bills look and feel real because they are printed on real government currency paper. They can't be detected by iodine test pens used by most cashiers to check for fakes because the paper is chemically correct.

As retailers hope for a return in consumer confidence during the holiday shopping season, U.S. Secret Service agents have visited Metro Detroit retailers to warn about the sophisticated counterfeiting technique that typically blossoms at this time of year.

Police across the nation are reporting an uptick in the appearance of counterfeit money. A sudden influx was noted earlier this month in suburban Atlanta. Washed or bleached $20, $50 and $100 bills were reported last month in California, New York, Washington, Louisiana and North Carolina.

An Eastpointe man was convicted of misdemeanor fraud last month for attempting to buy a used commercial snowblower in Plymouth with a fistful of $100 bills that started life as $5 notes.

"These are the best counterfeits I've seen," said 35th District Judge Michael Gerou, who spent his college years working in a bank. "One at a time, you could pass these all day long. Trying to do it eight at a time is what tripped our guy."

David Allan Barlow, 24, of Eastpointe was convicted in a trial before Gerou on a false pretenses charge. He got a 17-day jail sentence and promised to reimburse the Plymouth resident who sold him the snowblower.

So far, Thomas Frey, 40, hasn't seen his snowblower or the cash.

Barlow hasn't been charged with the more serious federal crime of counterfeiting. A U.S. Secret Service spokesman in Detroit declined to say if there are any ongoing criminal investigations involving bleached bills in Metro Detroit, but added agents are well aware of the technique.

And they are interested in speaking with Barlow. Federal counterfeiting charges can result in prison sentences of up to 20 years.

Barlow could not be located by The News, and his lawyer didn't return calls. Barlow testified at his trial that he got the bills from a friend, who claimed he got them in payment last year for a car he sold in Detroit.

Frey said Barlow and two others with him acted nervous when he complained the eight bills "felt funny." Frey also noticed a white plastic grocery sack was partially covering the license plate on the sport utility vehicle Barlow had loaded up with the snowblower.

"That's when he got confrontational, and they took off," said Frey.

The first Plymouth police officer to arrive declared the bills legal when he swiped one with an iodine pen. Later, a detective noticed all eight bills shared the same two serial numbers.

Clues often overlooked

The government has incorporated new techniques to make money harder to copy, like shimmering and color-shifting inks. But the high-tech efforts are lost on the average person and most retailers. Relying solely on inexpensive iodine test pens, as most retail cashiers do, will not catch washed or bleached counterfeit money because the chemistry is correct. U.S. currency paper also contains tiny colorful fibers, mostly red and blue, that can't be copied by normal computer printers.

Most merchants also don't bother with recommended ultraviolet lights that cause a vertical polyester strip embedded on the left side of bills worth $5 and above to glow in their denomination-specific coded colors. Even the simplest test is commonly ignored -- matching the image in the watermark in the right margin of the newest bills with the face on the front.

Because the fake $100s in Plymouth were printed on what started out as real $5 bills, vertical polyester strips in the bills clearly state "USA FIVE," and a hidden watermark image of Abraham Lincoln is visible near the right margin instead of the image of Benjamin Franklin normally found on $100 bills.

"It may look genuine at first glance," said Secret Service spokesman Mark Meyerand. "But if you look at the right security features you will quickly know it is not genuine."

Learn to avoid scam

Frey said he often lists items like his snowblower for sale on the Internet, but now insists on making the final transaction at his bank, where the cash is checked by a teller before the sale is finalized.

"By telling the buyer we will do it this way, if they are legit, they won't care," Frey said. Cashiers at Gigante Prince Valley Super Mercado, 5931 Michigan Ave. in Detroit, regularly check the authenticity of $20 bills and above by holding them up to the light.

"It's just good business sense," said Joe Gappy, a member of the family that owns the busy grocery, deli and mobile phone shop.

"We can't afford to take fakes, but it's the toughest thing in the world to tell a customer you can't take their money because it's counterfeit."

Tom Scott, Michigan Retailers Association senior vice president for communication, said his organization has issued warnings to retailers about counterfeiting in the past, but he was unaware of the new threat of washed or bleached bills

"Most money is transacted in a quick process. Most of us aren't prepared enough to know the difference," Scott said.

"And at the holidays, there are people in line. Good customer service includes things like getting people checked out quickly, so it takes commitment to take the time to check."

U.S. news World news Business Stocks & economy U.S. business World business Autos Real estate Retail Careers Personal finance Small business Viewpoint

Also: Why have government workers been spared layoffs?

By John W. Schoen

With the value of the dollar jumping up and down against other countries' currencies, what if the world just agreed to use the same currency? It sounds like a simple idea. But like many simple ideas, it would come with all kinds of unintended consequences.

Recently, Chinese leaders argued for the creation of a unified global currency, a concept that has been proposed by a number of academics and political officials in modern economic history. While the idea has certainly not received widespread support, the success of the euro demonstrates that currency unification can work and may even have certain economic benefits. What ramifications might the adoption of a universal currency have on global trade and national economies in general?
— R.Z., New York

The Chinese proposal for a single global currency was part of Beijing’s effort to take a more prominent place among world powers at the recent G20 meeting. And they have legitimate reason to float the idea of replacing the dollar as the “reserve” currency — the medium of exchange used for the majority of financial transactions around the world.

As the holder of some $2 trillion in dollar-denominated savings the Chinese government has reason to be concerned about the long-term strength of the dollar. One time-honored method of reducing large government debt is to gradually inflate the currency to reduce the real value of that debt. That would also devalue that big pile of Chinese savings.

The dollar’s role as a reserve currency also gives the United States a dominant role in the global economy. That also means other countries are subject to U.S. fiscal and monetary policies over which they have no control.

So it’s no surprise that China would like to see another entity — it suggests the International Monetary Fund would be a good choice — issue a single global currency that would be used by all countries in place of the dollar. There would be many advantages to this. But it has about as much chance of happening as the adoption of Esperanto as a common global language.

A nation’s currency serves several purposes, one of which is a global proxy for the depth, strength and productivity of its economy and the stability of its political system. For all of the problems facing the United States, investors around the world believe the dollar is the safest place to park their wealth. That’s why, for the moment, interest rates on dollar-denominated debt like U.S. Treasuries are so low.

Currencies are also valued based on trade flows; if the Japanese yen is relatively weak compared to the dollar, and American car buyers can buy a higher-end Japanese model for the same price in dollars, they will choose the Japanese car. That means that countries that are more productive generally see the value of their currency strengthen, which gives people who earn wages in that currency more buying power when they buy products priced in other, weaker currencies.

This makes the Chinese proposal for unified currency somewhat ironic, given that for many years, China artificially suppressed the value of its currency, the yuan, to make its products more competitive when priced in other currencies. With a single, unified currency, countries no longer have the luxury of devaluing their local currency to make their product more competitive.

There are other problems with a unified currency — as countries in the Eurozone are learning. Though the first 10 years of sharing a single currency went relatively smoothly, cracks have begun appearing on the continent as the global recession deepens.

One of the original goals of the Euro was to raise the overall productivity of the European economy, as weaker, smaller countries had to become more competitive with larger, stronger countries. In fact, the reverse is true. Weaker countries enjoyed higher purchasing power without having to produce more goods and services. Overall productivity growth slowed in Europe from 1.6 percent a year before the euro to half that pace since.

The Euro also suffers from the fragmented political structure that governs the economy it represents. Since each member country can issue its own debt, the euro is used in 16 different bond markets. Each country sets its own tax and spending policies; some countries now carry debts larger than their gross domestic product.

So while they’ve been freed of the impact of currency fluctuation, euro countries now face a different — in some cases more painful — impact from the whims of global investors. Borrowing costs in heavily indebted countries like Spain, Greece, Ireland and Portugal are much higher than of Germany, which has accumulated the largest pile of savings.

That presents these countries with some painful choices they didn’t have to deal with back in the days when they could devalue their local currency. Italy, for example, faces some stark choices, according to a 2006 report by the Center for European reform, a London-based think tank. It can continue to muddle along as the slowest growing economy among euro countries. Or it could boost productivity, chiefly by cutting wages. Or it could leave the euro, devalue its debts and create its own currency. Doing so, however, would make it much more difficult to borrow.

Other euro countries with high debts face similar downward spirals. Those debts increase costs, forcing tax increases or spending cuts. Cutting future borrowing costs means raising productivity — either through layoffs or wage cuts or both. None of those choices is likely to win much support on Election Day.

Unless and until the world had a single government to maintain uniform fiscal and monetary policies, it's hard to see how any independent body would be granted sufficient powers to make a workable global currency — especially in times of global recession when the most painful choices are required. (This is what ultimately began the collapse of the gold standard in the 1930s.)

And as long as the global economy consists of a collection of local economies governed by multiple countries, a single global currency would do little to eliminate the resulting imbalances that result from the different economic policies pursued by those sovereign nations.

With layoffs happening everywhere in an order to cut costs and stay in business, has the government made any cuts? They aren't very efficient.
— Curt, Lindstrom, Minn.

Yes, government employment began shrinking from a peak in August 2008, according to the Bureau of Labor Statistics. In March, the sector lost another 5,000 jobs.

Like the rest of the economy, government employment has its ups and downs. Still, it has roughly tracked the growth of the nation's overall population. From 1980 to 2008, the latest figures available, the population grew by about 39 percent and the government workforce grew by about 35 percent.

Which is more or less what you would expect. The more citizens who demand services from their government, the more people it takes to provide those services.

As for the productivity of those workers, that’s a little harder to get at. The government stopped measuring productivity of government workers in 1994. That’s when productivity throughout the work force — public and private — began making great strides due in part to technological developments like the personal computers and the Internet.

Pre-1994, though, government productivity didn’t measure up very well. From 1987 to 1994, output per employee among government workers rose 0.4 percent a year. That compares with gains in output of 1.5 percent a year by "nonfarm business" workers and gains of 2.2 percent a year by manufacturing workers during the same period.

If readers can point us to more recent data on government worker productivity, we’ll include it in a future column.

© 2009 msnbc.com Reprints

10 Great Cities for Salary Growth

by Siri Anderson, PayScale.com

We all want to know what's going to happen with the job market in 2009, especially where salaries are concerned. Is a raise in your future? It might just come down to where you live.

Yet the most recent and complete numbers for salary growth in metropolitan areas are from 2007, and with everything our economy has been through in recent months -- unstable markets, major businesses collapsing, and an official announcement of a U.S. recession -- those numbers seem all but obsolete.

So, how do you know which city might offer you a salary boost? According to Laurence Shatkin, author of the recently published "150 Recession-Proof Jobs," there is a pattern to discover in the places that do well in a recession. Industries such as basic health care, education, transportation services and government jobs stay strong in a recession because they cater to more basic societal needs. These industries will frequently concentrate in the same areas -- quite often state capitals -- maintaining job growth and wage increases, while other areas suffer more.

Below are some profiles of the top-performing large cities of 2008 and their 2007 statistics on personal income growth, according to the Bureau of Economic Research. Looking at these numbers and how "recession-proof" their main industries are will hopefully give an idea how well they'll continue to perform into 2009.

Austin-Round Rock, TX - pop. 840,066 - 7.7% avg. salary increase
Building off of an already robust government labor sector, the University of Texas at Austin is a huge source of innovation. The area has been using UT's excellent programs from bioengineering to pharmaceutical research programs to invigorate both the technology and burgeoning pharmaceutical industries.

Bakersfield, CA - pop. 315, 837 - 6.6% avg. salary increase
Oilfields and other natural resources created a lot of opportunity for growth around this city recently, and increased demand for services has spurred along the education and health-care sectors. Wages grew here much faster than the national average in recent years, and though that rate is expected to taper, nearby Edwards Air Base and Chevron should help to stabilize the economy and maintain a decent wage growth for transportation and logistics jobs.

Charleston-North Charleston-Summerville, SC - pop. 245,472 - 8.1% avg. salary increase
The Medical University of South Carolina gives weight to this area's healthcare industry and is inspiring recent investment in the biosciences. This adds to Charleston's already strong transportation/logistics industry -- the Port of Charleston is among the most efficient ports in North America, and that should keep business rolling and wages rising.

Huntsville, AL - pop. 171, 327 - 6.4% avg. salary increase
Yet another city whose strong and growing economy is due to the technology industry, Huntsville's U.S. Army post is also expected to grow over the next few years. In addition, it has just opened the doors to HudsonAlpha Institute for Biotechnology which should only encourage more growth in jobs and wages in 2009.

McAllen-Edinburg-Mission, TX - pop. 197, 183 - 7.1% avg. salary increase
Call centers established by Convergys and T-Mobile in this area have created a healthy chunk of jobs recently. The area has also strengthened its home healthcare industry, which is now the second largest employment sector after state and local government. Drawing off these "recession-proof" industries gives hope that wages will continue to grow.

Orlando-Kissimmee, FL - pop. 289,684 - 5.2% avg. salary increase
The health-care industry has been the impetus behind this area's growth, so odds are that the downturn won't hit this area very hard. The Burnham Institute for Medical Research and a new medical school at the University of Central Florida are expected to attract other industries to the area, particularly high-tech firms, all of which point to good chances for wage growth.

Provo-Orem, UT - pop. 210,670 - 9.7% avg. salary increase
Benefiting from the innovative brain-power of Brigham-Young University, the information service industry in this city has been fueling rapid growth over the last five years. Business investment in the tech sector remains strong, which should help Provo-Orem ride out the ,slowdown in good form.

Raleigh-Cary, NC - pop. 375,806 - 8.7% avg. salary increase
State government employment gives this capital city a sturdy backbone for economic security. High quality educational centers (North Carolina State; University of North Carolina, Chapel Hill) inject creative brainpower into Raleigh's thriving tech companies and its growing biopharmaceutical sector -- all good signs for strength in the coming year.

Salt Lake City, UT - pop 180,651 - 9.2% avg. salary increase
Like Raleigh, Salt Lake City boasts great tech and government jobs. In addition, health care (Intermountain Health Care) and education (University of Utah) add extra spark to SLC's economic fire. Based on this, expectations are high that wage growth will remain comparatively strong.

Seattle-Tacoma-Bellevue, WA - pop. 912,077 - 8.4% avg. salary increase
Microsoft and Boeing are the main jolts of force behind this area's continued growth. Looking into the future, with the heightened interest in green technology, Boeing's push for a more fuel-efficient commercial aircraft will likely reap great rewards. Strong health-care and research institutions also keep paychecks growing in slower economic times.

Sources: Best Performing Cities 2008 (Milken Institute and Greenstreet Partners, September 2008); Personal Income for Metropolitan Areas 2007 (Bureau of Economic Analysis, U.S. Department of Commerce, August 2008); "150 Best Recession-Proof Jobs" (Laurence Shatkin, Ph.D.)

Who are the Automotive Super Powers?

Rich List 2008
By Dan Read

Billionaires are a rare breed, and we're here to offer you a look into their exotic world. You've already seen the Aston One-77. It's the sort of thing they like to put in their garages. And it shows you how they like to spend their money. These people buy beautiful cars like we buy milk. Weekly.

To these guys, the credit crunch is a type of breakfast cereal.

And while the rest of us go cap-in-hand to the bank, worrying about where the next tank of fuel will come from, the world's super rich just get richer.

Which brings us to the first ever Top Gear Rich List. It's our guide to some of the richest people in the world of cars. Some of them are royalty. Some of them are entrepreneurs. Many are airhead celebrities. But one thing unites them: an unabashed love for fast things on four wheels. And a shedload of cash.

It's not a definitive list. And they're not all billionaires. But they all have more than enough cash to fill a garage that the Stig would die for. We didn't bothered with gray-suited corporate nobodies, either. Instead, we've included some of the world's more colorful petrolheads.

But consider this: In 1986, there were only 140 dollar-billionaires in the world. Now, according to Forbes, there are more than 1,000. So there's hope for everyone. Keep your head down, work hard at school and in 25 years your name could be appearing below. And that One-77 might well be parked in the driveway of your palatial home, into which you've graciously allowed "Hello" magazine for an exclusive.

Ratan Tata
Jaguar/Land Rover's new owner
$66.5 billion

It's hard to be precise about Ratan's fortune, because it's tied up in about 100 companies. But bespectacled economists put it up there in the multibillions. Whatever, it's safe to say the man is, um, loaded. Loaded enough to buy 28 million of his own Nanos. That's enough to supply every person in Uzbekistan. Lucky things.

Sultan of Brunei
A byword for wealth
$38 billion

The Sultan likes cars. Likes them a lot. Enough to have nearly 6,000 of them, actually. They include 367 Ferraris, 362 Bentleys, 185 BMWs, 177 Jaguars, 160 Porsches, 130 Rolls-Royces and 20 Lamborghinis. Shame his palace only holds 110 of them. He likes his rare stuff, too — he's got a Dauer 962, a Mercedes CLK-GTR, a Diablo SE Jota, a Jaguar XJR-15 and the last ever Rolls-Royce Phantom VI.

Susanne Klatten
BMW
$18.2 billion

Stefan Quandt
BMW
$14.4 billion

Johanna Quandt
BMW
$4.4 billion

We've got a bit of family fortunes going on here. The Quandts are the reclusive family behind BMW — the majority shareholders since the '80s. Rarely seen in public, we can only assume they've got a secret lair under the 'Ring. And that they keep Chris Bangle as their man slave, only letting him out on occasion to design awkward-looking cars that we somehow come to love. Hmmm...

Bernie and Slavica Ecclestone
Motorsport
$4.6 billion

No list of billionaires would be complete without Bernie, F1's miniscule overlord. And he's self-made, too, having started out as a motorcycle mechanic and then working up to an F1 team owner. Respect, Bernie. He could probably do with a "Yellow Pages" when he snogs his glamorous missus, though. Still, he's a bit of catch for a 78-year-old shortie. Respect (again).

Sir Anthony Bamford and family
JCB
$3.7 billion

Diggers. Joseph Cyril Bamford first painted his initials on the side of one in 1945. Since then, his rugged yellow machines have become as iconic as John Deere tractors or Eddie Stobart lorries. His son, Sir Anthony, runs things nowadays. So we can thank him for the Dieselmax land-speed car, then. Good for doing 350 mph. Bad for digging.

Ferdinand Piëch
Volkswagen
$3.2 billion

Ferdinand's grandfather went by the name of, uh, Ferdinand. Ferdinand Porsche, actually. So as part of his inheritance, little Ferdy landed a big share in a small German firm called Volkswagen Group. He later became the company's chairman. We're guessing he punts around in a Veyron (he was behind it), but we're not counting out a Golf.

Bob Edmiston
Subaru importer
$988 million

Who, you ask? OK, so we've never heard of him, either. But the man's done a good job getting the WRX to our shores.

Bill Ford Sr.
Ford Motor Company
$950 million

Like Piëch, Bill Ford had a famous grandfather — he was named Henry. You might remember a small car called the Model T. Bill inevitably became the largest shareholder, along with his son, um, Bill.

John Bloor
Triumph Motorcycles
$903 million

Bloor bought Triumph Motorcycles in 1983, after it went bankrupt. He made his cash in construction, and according to the "Sunday Times" Rich List 2008, his company, Bloor Holdings, is worth $855 million. Bloor owns it all, and we're adding $48 million for other assets.

Ron Hobson
NCP
$893 million

Don Gosling
NCP
$855 million

Ron and Don's first car park was an old bomb site in central London. They bought NCP in 1959 and immediately patented a new shade of piss-stained concrete. They went on to develop pay machines that reject anything bearing the Queen's head, and a kind of magical parking space that was precisely an inch narrower than any car in production.

John Madejski
"Auto Trader"
$760 million

Chairman of Reading FC, founder of "Auto Trader" and sugar daddy of Cilla Black.

Martin Birrane
Lola A1GP
$274 million

You could make Birrane's life into a nice cheesy movie. Son of a tailor, he left home in Ireland at 17 and traveled the world as an actor before becoming an estate agent in Canada. So what's he doing here? He's a motorsport hero, that's what. He saved Lola cars in 1997 and also owns the Mondello Park racing circuit in Ireland.

David Beckham
Celebrity with sideline in football
$238 million

Beckham is the original chav done good. And this is reflected in his car collection, ruining exotica with unnecessary add-ons. His list of automotive faux pas includes a Hummer H2, a Lincoln Navigator and a Rolls Drophead with huge black wheels. Come on, Dave, get some taste innit.

Eddie Irvine
Playboy and F1 driver
$228 million

Irvine's jet used to fly around Europe picking up his mates and lots of gorgeous models. He'd then fly them to his private yacht in St. Tropez for a big old booze-up. "What's the point of being rich if you don't share it with your mates?" he said.

Flavio Briatore
Fashion, football, F1
$228 million

Flavio used to be a T-shirt salesman. OK, so he ran Benetton clothing in the U.S., which made him lots of cash. As did F1, where he built his Benetton team around a young, chinny German chap called Schumacher. Flav can now be found in the pitlane wearing Renault merchandise, or at Loftus Road on Saturday afternoons, chewing on a Pukka Pie.

Ron Dennis
Chairman of McLaren
$209 million

The number next to Ron's name would be bigger if it weren't for a small, tin-pot organization known as the FIA. Bigger by about 95 million bucks, to be precise. But that would make him richer than the owner of a rival team. And we couldn't have that.

Frank Williams
F1 team founder
$150 million

Sir Francis Owen Garbatt Williams is a bit of a legend. He funded his early racing with a part-time job as a traveling grocery salesman, gradually working his way up the motoring food chain. He started his own racing team in 1966, which became Williams F1 in 1977. Last year's GP at Monaco was Frank's 600th. Legend, see.

Jody Scheckter
F1 champion
$143 million

Usually, F1 world champions don't become organic farmers. Jody did — he now owns Laverstock Farm in Hampshire. In F1, he had a reputation as a crash-prone wildman, famously bringing the 1973 British GP to a halt, having caused a huge pileup. He drove for Ferrari, McLaren and Tyrrell, where he piloted the weird six-wheel P34. Rumor has it he's a big inspiration for Lewis Hamilton, who's considering producing his own range of plump, tasty sausages.

Valentino Rossi
Motorcycle champion
$143 million

Some say Rossi models his hairstyle on Clarkson's. Either that, or he's a professional Leo Sayer impersonator. We say, who cares? He's got the fastest perm in the business. And besides racing stuff, business is his thing. He's made a fortune from sponsorship and image deals. Just don't mention the Inland Revenue. In 2002, his Italian tax return recorded earnings of "500 euros." The authorities were all over him, forcing him to make a deal. This February, he coughed up 35 million euros. The case is now closed.

David Richards CBE
Motorsport
$137 million

When it comes to motorsport, Richards is your man. He's run everything from F1 teams (BAR Honda, Benetton) to the Subaru World Rally team. He owns Prodrive, which even builds satellites, and he now runs Aston Martin. He flies his own helicopter, too. Can we be your mate please, D.R.?

Nicola Foulston
Racing circuits
$133 million

Foulston was the woman who nearly brought F1 back to Brands. Except she sold it after signing the deal with Bernie, so it never happened. The circuit changed hands for $228 million. According to the "Telegraph," Faulston's share was at least $66.5 million, and she has "other assets." We'd like to see them.

Nick Mason
Pink Floyd
$105 million

After deflating his flying pig and hanging up his drumsticks, Mason turned to cars. And seeing as he had a few million quid laying about, he kind of went to town. He owns lots of classic racing cars, including a rare Ferrari 250 GTO, worth more than a small African country. He was one of the lucky few to get his hands on an Enzo, which he lent to "Top Gear" in 2004, on the condition we promoted his book. "Inside Out: A Personal History of Pink Floyd" is probably still available in some shops near you.

Nigel Mansell
F1 champion
$91.2 million

Rumor has it that our Nige's old tache is worth $38 million, and that it's in storage somewhere in a Birmingham lockup. Look out for it on eBay, when his fortune starts to run dry.

David Coulthard
F1 driver
$85.5 million

If D.C. had a quid for every square inch of his chin, he'd be a billionaire. Sadly, he never put it into business, so he'll have to settle for mere millions from his racing career. And his hotel. And his naff aftershave range.

Chris Evans
Ginger Media mogul
$85.5 million

Evans is probably the most successful ginger person in history. And he likes his motors. Particularly Ferraris. Particularly the 250 California Spyder, for which he recently paid $9.5 million...Quite a lot more than his $6 million Surrey mansion, then.

Jackie Stewart
F1 champion
$78 million

After retiring from racing (with three F1 world championships to his name), Stewart has dedicated most of his time to improving driver safety and coaching new talent. He's sunk a lot of cash into various charities, too, so he's an all-around good egg. In 1973, he was the "Sports Illustrated" Sportsman of the Year. Cool, eh?

Jay Kay
Jamiroquai
$76 million

In many ways, Jay Kay is the anti-Beckham. He has rather more taste when it comes to cars, and his roster of motors runs like that of a proper connoisseur. Think F40, F50, Enzo, Diablo, DB5 and original Abarth 500. Oh, and the 300SL Roadster and Maserati A6G (Google it now — it's absolutely stunning). He has a fleet of 37 altogether, most of which he refers to as "staff cars." Can we have a job then please, Mr. Kay?

Jenson Button
F1 driver
$66.5 million

You can take the boy out of Frome, but you can't take Frome out of the boy. Actually, that's rubbish. 'Cause Jenson has about as much to do with rural Somerset as he does with the suburbs of Beirut. Anyway, he's loaded. Though he could've had even more, if that Williams contract hadn't gone tits-up — he had to buy himself out to the tune of over $19 million. Ouch! Drives an NSX as a company car, too, which he probably didn't pay for. Seems the richer you get, the less you pay for...

Jay Leno
TV star
$30.4 million per year

Like D.C., Leno could have made good money out of his chin. But he chose to host a rather popular American TV show instead. And thanks to astronomical viewing figures, he's earned a few dimes to spend on cars. So he's got a Los Angeles garage full of stuff like a McLaren F1, a Porsche Carrera GT, an SLR, an Atom and a Ford GT. None of which are as cool as his MTT superbike, which is powered by a helicopter turbine. His leathers are a little tight, though.

Max Mosley
President of the FIA
$1.1 million (at least)

Ah, Max. Max, Max, Max. Where do we start? Somewhere safe and nonlitigious, probably. Remember, he was a lawyer. So we'll tread quite carefully around the hookers in a basement and dirty old perv jokes. In fact, we won't even mention them. To be fair, Max has done a hell of a lot for safety in motorsport and helped make NCAP ratings mainstream.

The Five Oldest Banks in the World

by Jason Lankow

With so much focus on the demise of banks of all sizes, its easy to imagine the worst doomsday scenarios and wonder if your own bank is next. However, some banks have continued operations throughout civil wars, world wars and economic depressions without going under. These are not the first banks in the world, which trace back to early lending from priests to merchants in 18th century B.C. Babylon and up through the Roman empire, but rather these are five of the oldest surviving banks in the world, and they each tell a story.

Bank of New York (now Bank of New York Mellon)

New York, New York (Founded 1784)

(Source)

It began with a press release in the New York Packet, announcing the plan to form New York’s first bank in 1784. Alexander Hamilton, a respected attorney at the time, drafted the bank’s constitution and led The Bank of New York through its formation and early years. Eight years later, it was the first company to be traded publicly when the New York Stock Exchange opened in 1792. There is also an abundance of history behind Mellon Financial Corporation dating back to the Industrial Revolution, who merged with Bank of New York in 2007 to become Bank of New York Mellon. Today, it is the oldest bank in the United States, and they get to have One Wall Street as their address to prove it.

The Bank of Scotland (now Halifax Bank of Scotland)

Edinburgh, Scotland (Founded 1695)

(Photo Courtesy of HBOS plc Group Archives)

Although the concept of currency and bank notes wasn’t necessarily new to Scotland in the 17th century, the Bank of Scotland was the first to print its own paper currency. Further, it was unique in the sense that it was set up to help businesses, whereas the Bank of England, established one year earlier, existed primarily to finance government defense spending. Early on, it faced fierce rivalry from the Royal Bank of Scotland, and in one instance, RBS (the “new” bank) began hoarding the bank notes issued by Bank of Scotland (Old Bank) in order to present them at once, forcing old Bank of Scotland to call their loans and cease payments for six months. This didn’t sink them though, and this old resilient bank has remained as the only existing commercial institution created by the Parliament of Scotland. The Bank of Scotland merged with Halifax Bank to become HBOS in 2001.

C. Hoare & Co.

London, England (Founded 1672)

(Source)

Before modern street numbering, people used signs to locate a shop, and Sir Richard Hoare couldn’t have chosen a much better symbol than the Sign of the Golden Bottle, as gilded bottles were a sign of luxury and wealth commonly used by the goldsmiths who shaped the precursors to more modern banking systems and paper currency. This private banking institution has proven to be remarkably resilient. Of note is the fact that their building was evacuated during World War II and saved from a fire by a few brave employees. Furthermore, the bank is still completely family-owned and managed by direct descendants of Sir Richard Hoare.

Berenberg Bank

Hamburg, Germany (Founded 1590)

(Source)

Formed in 1590 by Hans and Paul Berenberg, two brothers who ran a cloth trading and import/export business, the company was very lucky to be growing during a time of prosperity in Hamburg, Germany. The city quickly grew as a hub of financial and trading activity, and they were able to thrive along with other members of a small, tight-knit group of Dutch people that didn’t even have full citizenship rights in Hamburg. Berenberg Bank today has offices throughout Europe, and remains Germany’s oldest private bank today.

The Oldest Bank in the World: Banca Monte dei Paschi di Siena

Siena, Italy (Founded 1472)

(Source)

Originally formed as The Monte di Pietà, or Monte Pio, to make loans to the poor out of charity, this is the longest running bank in the world. “Monte,” meaning “heap” or “pile,” referred to the collection of money used for charitable distribution, and the bank truly served to benefit the city’s economy. One interesting historical note is that the citizens of Siena put up income from the land as guarantees against loans for farming and city infrastructure, which led to it being referred to as Monte dei Paschi in reference to the land. Today it stands out as the oldest existing bank in the world by far, and remains an esteemed bank that has branches throughout Italy.