Stability photos on Flickr

160707-N-OI810-114 by U.S. Pacific Fleet

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SOUTH CHINA SEA (July 7, 2016) The Arleigh Burke-class guided-missile destroyer USS Curtis Wilbur (DDG 54) patrols the South China Sea. Guided-missile destroyers are multi-mission anti-air warfare, anti surface warfare and anti-submarine warfare combatants, which operate independently for support of carrier and expeditionary strike groups and surface strike groups. Curtis Wilbur is on patrol with Carrier Strike Group Five (CSG 5) in the U.S. 7th Fleet area of responsibility supporting security and stability in the Indo-Asia-Pacific region. (U.S. Navy photo by Mass Communication Specialist 3rd Class Nathan Burke/Released)

190912-Z-OU450-0058 by North Carolina National Guard

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Soldiers from the North Carolina and Alabama National Guard join their Moldovan peers for Operation Fire Shield 2019 hosted by Moldova, Sept. 12 at Bulboaca Training Area, Moldova. Here, a Moldovan soldier checks a gun line before firing. Fire Shield’s mission is sharing knowledge and best practices between the NCNG and ALNG artillery experts Moldovan Soldiers and officers and other nations attending the annual event. The NCNG has teamed with Moldova for more than two decades via the State Partnership Program designed to increase peace and stability across Europe. (U.S. Army National Guard photo by Sgt. 1st Class Robert Jordan, North Carolina National Guard Public Affairs/Released)

Stability ball plank Exercise by Tyler Read

Must attribute with link to: www.ptpioneer.com

Stability ball plank Exercise

1:72 Saab J29D (Flygande) Tunnan; “Röd Rudolf” of the Swedish Air Force F1 Kungliga Västmanlands Flygflottilj, 1st Jaktflygdivision; Hässlö Flygplats/Västerås, central Sweden, 1964 (Whif/Heller kit conversion) by Dizzyfugu

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+++ DISCLAIMER +++

Nothing you see here is real, even though the model, the conversion or the presented background story might be based historical facts. BEWARE!

Some background:

In the aftermath of the Second World War, Sweden required a strong air defense, utilizing the newly developed jet propulsion technology. This led to a pair of proposals being issued by the Saab design team, led by Lars Brising. The first of these, codenamed R101, was a cigar-shaped aircraft, which bore a resemblance to the American Lockheed P-80 Shooting Star. The second design, which would later be picked as the winner, was a barrel-shaped design, codenamed R 1001, which proved to be both faster and more agile upon closer study.

The original R 1001 concept had been designed around a mostly straight wing, but after Swedish engineers had obtained German research data on swept-wing designs, the prototype was altered to incorporate a 25° sweep. In order to make the wing as thin as possible, Saab elected to locate the retractable undercarriage in the aircraft's fuselage rather than into the wings.

Extensive wind tunnel testing performed at the Swedish Royal University of Technology and by the National Aeronautical Research Institute had also influenced aspects of the aircraft's aerodynamics, such as stability and trim across the aircraft's speed range. In order to test the design of the swept wing further and avoid any surprises, it was decided to modify a single Saab Safir. It received the designation Saab 201 and a full-scale R 1001 wing for a series of flight tests. The first 'final' sketches of the aircraft, incorporating the new information, was drawn in January 1946.

The originally envisioned powerplant for the new fighter type was the de Havilland Goblin turbojet engine. However, in December 1945, information on the newer and more powerful de Havilland Ghost engine became available. The new engine was deemed to be ideal for Saab's in-development aircraft, as not only did the Ghost engine had provisions for the use of a central circular air intake, the overall diameter of the engine was favorable for the planned fuselage dimensions, too. Thus, following negotiations between de Havilland and Saab, the Ghost engine was selected to power the type instead and built in license as the RM 2.

By February 1946 the main outline of the proposed aircraft had been clearly defined. In Autumn 1946, following the resolution of all major questions of principal and the completion of the project specification, the Swedish Air Force formally ordered the completion of the design and that three prototype aircraft be produced, giving the proposed type the designation J 29.
On 1 September 1948, the first of the Saab 29 prototypes conducted its maiden flight, which lasted for half an hour. Because of the shape of its fuselage, the Saab J 29 quickly received the nickname "Flygande Tunnan" ("The Flying Barrel"), or "Tunnan" ("The Barrel") for short. While the demeaning nickname was not appreciated by Saab, its short form was eventually officially adopted.

A total of four prototypes were built for the aircraft's test program. The first two lacked armament, carrying heavy test equipment instead, while the third prototype was armed with four 20mm automatic guns. Various different aerodynamic arrangements were tested, such as air brakes being installed either upon the fuselage or on the wings aft of the rear spar, along with both combined and conventional aileron/flap arrangements.
The flight test program revealed that the J 29 prototypes were capable of reaching and exceeding the maximum permissible Mach number for which they had been designed, and the flight performance figures gathered were found to be typically in excess of the predicted values.

In 1948 production of the type commenced and in May 1951 the first deliveries of operational production aircraft were received by F 13 Norrköping. The J 29 proved to be very successful and several variants and updates of the Tunnan were produced, including a dedicated reconnaissance variant and a dedicated all-weather fighter with an on-board radar, the J 29D.

The J 29D variant originally started its career as a single prototype to test the Ghost RM 2A afterburner turbojet with 27.5 kN (2,800 kgp/6,175 lbf). The new engine dramatically improved the Tunnan’s performance, esp. concerning the start phase, acceleration and climb, and was eventually adopted for the whole J 29 fighter fleet in an update program, leading to the J 29F variant.

However, at the time of the RM 2A trials, Sweden was more and more in need for a suitable all-weather aerial defense for its vast, neutral airspace in the vicinity of the Soviet Union. Only a single flight of the Swedish Air Force, F1 in Hässlö, operated roundabout thirty radar-equipped fighters, and these were outdated De Havilland Mosquito night fighters (locally designated J 30).

The highly successful J 29 was soon considered as a potential air-intercept radar carrier, offering a much more up-tp-date performance and deterrent potential against would-be intruders. Consequently, Saab started the development of an indigenous all-weather fighter on the basis of the Tunnan (originally coded “J 29R”). The work started with aerodynamic trials of different radome designs and placements on a Tunnan’s nose, e .g. inside of the circular air intake opening or above it. No major drawbacks were identified, and in 1955 the decision was made to convert thirty J 29B daylight fighters for the all weather/night fighter role. These machines officially inherited the designation J 29D.
The J 29D’s compact radar, called the PS-43/T, was designed by CSF (Compagnie Generale de Telegrahpi Sans Fil) in France after the Swedish specification. It had a wavelength of 3 cm with an effect of 100 kW, and it was to have a spiral scan pattern. Range was 15-20 km, only a slight improved against the Mosquitos’ bulky SCR-720B radar set, which only had a range of 12-16km. But the system’s compact size and the ability to be operated by the pilot alone meant a serious step forward. 34 sets were delivered together with blueprints in 1956, and the PS-43 radar system was later modified and adapted to the Saab 32 Lansen, too.

The structural modifications for the radar-equipped Tunnan were carried out in the course of the ensuing J 29F update program, which had started in 1954. Beyond the afterburner engine and dogtooth wing updates for the day fighters, the J 29D also received a re-designed nose section which now featured a thimble radome for the PS-43/T, integrated into the upper air intake lip, reminiscent of the F-86D’s arrangement. The air intake itself kept the original circular diameter, but the opening was slightly wider, raked forward and featured a sharper lip, for an improved airflow under the radome. Overall performance of the J 29 did not suffer, and the conversion took place swiftly thanks to a simple replacement of the nose section in front of the windscreen and the installation of a shielded tracking monitor in the cockpit.

Experiments with a heavier cannon armament (consisting of four, long-barreled 30mm guns in the lower fuselage) for the J 29 in general were conducted in parallel, too. But, despite showing no negative effect on the J 29’s handling or performance, this upgrade was not introduced to any of the J 29 variants in service and so the J 29D kept its original four 20mm cannon as main armament, too. Additional ordnance consisted of optional racks with 75 mm/3 in air-to-air rockets under the inner wings against large aerial targets like bombers. A pair of drop tanks could be carried on the outer pylons, too, and they were frequently carried in order to extend range and loiter time. Other loads, including bombs or unguided air-to-ground missiles, were possible, but never carried except for in practice.

The last converted J 29D was delivered back to the Swedish Air Force in late 1956, just in time to replace the last active J 30 Mosquitos in service, which had been gradually phased out since 1953. In parallel, the radar-equipped J 33 Venom was introduced into service, too, since the small number of J 29Ds had in the meantime turned out to be far from sufficient to effectively cover the Swedish air space against large numbers of ever faster jet bombers and reconnaissance aircraft. The J 29D fulfilled its role and duty well, though, and was just as popular as the daylight fighter versions.

Initially, all J 29D were delivered in bare metal finish, but they were soon adorned with additional markings on fin and wing tips for easier recognition and formation flights. A few all-weather fighters of F1 Flygflottil experimentally received the blue/green camouflage which had been adopted for the S 29C reconnaissance aircraft, but this was found to be ineffective at the typical altitudes the interceptors would operate. As a consequence, the scheme was quickly changed into the much lighter livery of the former J 30 and J 33 fighters, although the bare metal undersides and the formation markings under the wing tips were retained – even though this practice was confined to F 1 and not consequently carried out among all of the fighter squadron's J 29Ds. Some J 29D furthermore carried various forms of black ID bands for quick identification in war games, but unlike the day fighters, these markings were limited to the undersides only.

From 1963 onwards all frontline J 29Fs were equipped with AIM-9 Sidewinder infrared-seeking air-to-air missiles, designated Rb 24 in Swedish service. This update was also carried out among the J 29D fleet, and the new, guided missiles considerably improved the aircraft’s capabilities.

Anyway, the J 29D’s small number remained a fundamental problem that prevented bigger success or even export sales, and due to the quick technical advances, the J 29D remained only a stopgap solution. The much more capable Saab 32 Lansen had been under development and its dedicated all-weather fighter variant, the J 32B, had already entered service in 1958, replacing the mixed and outdated lot of radar-equipped fighters in Swedish service.

Nevertheless, the J 29D soldiered on, together with the rest of the J 29F and S 29C fleet, until 1970, even though not in front line duties anymore.

General characteristics:

Crew: 1

Length: 10.80 m (35 ft 4 1/2 in)

Wingspan: 11.0 m (36 ft 1 in)

Height: 3.75 m (12 ft 4 in)

Wing area: 24.15 m² (260.0 ft²)

Empty weight: 4,845 kg (10,680 lb)

Max. takeoff weight: 8,375 kg (18,465 lb)

Powerplant:

1× Svenska Flygmotor RM2B afterburner turbojet, rated at 6,070 lbf (27 kN)

Performance:

Maximum speed: 1,060 km/h (660 mph)

Range: 1,100 km (685 mi)

Service ceiling: 15,500 m (50,850 ft)

Rate of climb: 32.1 m/s (6,320 ft/min)

Armament:

4x 20mm Hispano Mark V autocannon in the lower front fuselage

Typically, a pair of 400-liter (106 US gallon) or 500-liter (132 US gallon) drop tanks was carried on the outer “wet” pylons

Further air-to-air ordnance initially consisted of 75 mm (3 in) air-to-air rockets, from 1963 onwards the J 29D could also carry up to 4x Rb 24 (AIM-9B Sidewinder) IR-guided air-to-air missiles.

Optionally (but never carried in service), the J 29D could also deploy a wide range of bombs and unguided missiles, including 145 mm (5.8 in) anti-armor rockets, 150 mm (6 in) HE (high-explosive) rockets or 180 mm (7.2 in) HE anti-ship rockets

The kit and its assembly:

Sweden is a prolific whiffing territory, and the Saab 29 offers some interesting options. The all-weather Tunnan was a real Saab project, and things actually got as far as the aforementioned radome shape test stage. But eventually the project was fully dropped, since Saab had been busy with standard J 29 production and conversions, so that this aircraft never materialized, just as the projected side-by-side trainer Sk 29 of the same era.

However, I recently came across a nice Saab 29 book which also covers some projects – including drawings of the radar-equipped Tunnan that never was. My converted model with the thimble radome and the raked air intake is based on these drawings.

The basic kit is the Heller Saab 29, which I deem superior to the Matchbox Tunnan, with its mix of raised and engraved panel lines and overall rather soft detail (despite the surprisingly nice cockpit). Anyway,, the Heller kit has its flaws, too, e. g. a generally weak material thickness, lack of locator pins or other stabilizing aids and some sinkholes here and there.

The kit was built mostly OOB, with as much lead in the gun tray as possible - and it actually stands on its own three feet/wheels! The only major change is the modified nose section. It sounds simple to graft a radome onto the Tunnan's nose, but the rhinoplasty was challenging. The whole front end had to be renewed, based on the profile drawings and sketches at hand.

The thimble radome is actually a recycled drop tank front end from a Hasegawa F6F Hellcat. The raked, lower aitr intake lip comes from a Matchbox Mystère IVA - but it lost its splitter, was reshaped and had the OOB air intake duct glued into place from behind. Once the intake was glued into its place, a wedge opeing was cut into the area in front of the canopy and the drop tank radome adapted to the gap, a step-by-step approach, since I wanted to have the radome slightly protrude into the airtake, but also keep a staright line in front of the windscreen.

Additional details include new pitots on the wing tips and some additional antennae. The heat shield for the afterburner engine is OOB, as well as the streamlined drop tanks and their pylons. I just added an additional pair of pylons (from an Acedamy MiG-23) to the inner wing, holding a pair of AIM-9Bs.

Painting and markings:

Finding a suitable, yet “different” scheme for the J 29 night fighter was not easy; most J 29 were left in bare metal, some carried dark green upper surfaces and some S 29C wore a paint scheme in olive green and dark blue. I eventually settled for the RAF style paint scheme that had been adopted with the J 30 Mosquito and J 33 Venom night fighters – not spectacular, but different from the Swedish early Sixties norm, and it subtly underlines the J 29D’s role.

The scheme was lent from RAF Venom night fighters (which was used on the Swedish J 33, too), and of the upper surfaces I used RAF tones, too: Humbrol 163 (Dark Green) and 165 (Medium Sea Grey). However, I did not want to use the grey on the lower surfaces, since I found that scheme a bit too uniform and British, so I painted the lower surfaces in NMF, with a waterline at medium height - higher than the camouflaged S 29C’s and lower than the early, camouflaged J 29A fighters (with an experimental all-green upper surface).

The bare metal finish was created with acrylic Aluminum (Revell 99) and Polished and Matt Aluminum Metallizer (Humbrol) added on top, highlighting single panels. Around the engine bay and the exhaust, a base with Iron (Revell 91) was laid down, with Steel Metallizer (Modelmaster) on top.

Under the wing tips, green formation markings (again Humbrol 163) were added, as well as black ID stripes (cut from generic decal sheet material). Other, Swedish adornment, like the roundels, codes or squadron markings, was taken from the OOB sheet, a PrintScale sheet for the J 29 and leftover decals from a Heller J 21.

Interior details were painted according to Swedish standard, thankfully there are many good pictures available. The cockpit interior became grey-green (Revell 67 comes very close to the real thing) with light grey dashboard and side consoles. The landing gear wells medium (Revell 57) grey with some dry-brushed Aluminum, while the wheel discs became grey-green, too.

An interesting result, through relatively little effort: the dog nose changes the look of the tubby J 29 a lot, it looks much sleeker and somewhat German now – but somehow also more retro than the original aircraft? The different paint scheme looks unusual, too, despite being relatively down-to-earth. This will certainly not be my last modified J 29, a two-seat trainer would certainly be another cool and reality based Tunnan whif?

Wien, 9. Bezirk (l’arte delle facciate di Vienna), die Österreichische Nationalbank, National Bank of Austria, el Banco Central de la República de Austria, la Banque Centrale de la République d'Autriche, la Banca Centrale della Repubblica d'Austria by Josef Lex (El buen soldado Švejk)

Oesterreichische Nationalbank

Logo of the Austrian National Bank

Headquarters Vienna, Austria

Central Bank of Austria

Currency€

To ISO 4217 EUR

website

www.oenb.at/

Previous Austro- Hungarian Bank

List of Central Banks

Oesterreichische Nationalbank, at Otto-Wagner -Platz No. 3, Vienna

The Austrian National Bank (OeNB), Austria's central bank as an integral part of the European System of Central Banks (ESCB) and the Eurosystem. It is instrumental in the design of the economic development in Austria and in the euro area. Legally, the OeNB is a public limited company.. However, it is also subject to further enshrined in the National Bank Act regulations resulting from its separate position as a central bank. In the framework of the Eurosystem, the OeNB contributes to a stability-oriented monetary policy. At the national level, it cares about the preservation of financial stability and the money supply and manage foreign exchange reserves to hedge against the euro in times of crisis. The guideline values in terms of the tasks of the Austrian National Bank are "security, stability and trust".

Contents

1 History

1.1 1816 to 1818

1.2 1818 to 1878

1.3 1878 to 1922

1.4 1922 to 1938

1.5 1938 to 1945

1.6 1945 to 1998

1.7 From 1999

2 The OeNB as a modern central bank

3 Legal form and organs

3.1 Legal framework

3.2 organs

3.2.1 General

3.2.2 General

3.2.3 Board of Directors

4 Tasks

4.1 Monetary policy strategies and monetary policy decision-making process

4.1.1 Economic analysis

4.1.2 Production of statistical information

4.1.3 Contribute to international organizations

4.2 Implementation of monetary policy

4.2.1 use of monetary policy instruments

4.2.2 Reserve Management

4.2.3 Money Supply

4.3 Communication of monetary policy

4.4 ensure financial stability

4.4.1 Financial Stability

4.4.2 Payment System Stability and payments

5 The OeNB in the European System of National Banks

6 President / Governors

7 See also

8 Literature

9 links

10 Notes and references

History

1816-1818

As long as 50 years before the founding of the National Bank the Habsburgs carried out first experiments with securities in the form of paper money. Finally, in the 18th Century the issue of banknotes transferred to a state independent institution, while the issue of paper money called "Banco notes," founded in 1705 by the "Vienna City Bank" took place in 1762.

In wartime governance took back control of the money issue, so there was an inflation of Banco-Zettel 1796-1810. The state ordered the forced acceptance of paper money in private transport, which led to a fast-growing discount on bills in the market. 1799 was therefore one for 100 guilders paper money only 92 guilders in silver coins, and at the end of 1810 the value of the paper florin had fallen to 15 % of the nominal value of the Banco-Zettel. Later, the Habsburgs declared a devaluation of the Banco-Zettel in the ratio of 5:1. This act was considered by the business community as a sovereign default, which the paper money experienced a rapid devaluation.

At the end of the Napoleonic wars the Habsburg multinational state ( → Habsburg Monarchy) faced a new challenge: the restoration of a European balance. Church, the nobility, the army and the bureaucracy as elements in the Ancien Régime were not sufficient to solve this problem, a well -founded economic situation was needed. Moreover, one could not ignore readily the laws of supply and demand.

In this regard, were the first June 1816 by Emperor Francis I two patents issued (later to distinguish the "main patent" or "bank patent"), the "privileged Austrian National Bank", conceived as a public company, had to constitute itself as soon a possible, propose the emperor three of its directors for selection of the governor and take up their activity provisionally on 1 July 1816.

The National Bank had henceforth a monopoly on the issuance of paper money, which led to a slowdown in the Austrian monetary system and an increase in the value of paper money. The economy was again a solid source of money keeping constant the value of money regardless of the spending plans of the State. The equity of the Bank justified this by share issues.

Initially comprised the activities of the bank - under temporary management - the redemption of paper money and the issuance of shares. The full effectiveness attained the National Bank until after the issue of 1,000 shares and the associated possibility of shareholders to set the management themselves.

1818-1878

On 15 July 1817 recieved the National Bank as the "first Bankprivilegium" the exclusive right to unrestricted issue of banknotes and in this context a special position in terms of Rediskontgeschäfts (rediscount business). Beginning of 1818 the definitive bank management was ready. Part of it were among leading figures of Viennese society, including the banker Johann Heinrich von Geymüller and Bernard of Eskeles. From 1830 to 1837 the Office of the Governor was held by Adrian Nicholas Baron Barbier.

In the countries of the Habsburg Monarchy, which were characterized in large part by an agricultural oriented activity pattern, some regions showed a lively commercial-industrial growth. The goal now was to create a system of economic exchange between these areas. Successively established the National Bank branch network and thus guaranteed a uniform money and credit supply. From its headquarters in Vienna this network extended over early industrial areas and commercial centers in Eastern and Central Europe to the northern Mediterranean.

Trade bills and coins were preferred assets of the National Bank, less the supply of money to the state. With the exchange transactions, the National Bank supported the economic growth of the monarchy and secured at the same time the supply of silver coins in the event that the need for these increases in exchange for bank notes, contrary to expectations. 1818 was the National Bank, however, by increasing public debt, due to high spending in times of crisis, not spared to make an increase in the government debt positions on the asset side of its balance sheet.

The patent provisions of the founding of the National Bank not sufficiently secured against the autonomy of governance. At the center of the struggle for independence, this was the question of the extent to which the issue of banknotes must be made on the basis of government bonds. In 1841, a renewal of Bankprivilegiums got a weakening of the independence by pushing back the influence of the shareholders in favor of the state administration. During the revolution of 1848/49 followers of constitutional goals received great support from senior figures in the National Bank. For about a hundred years, the Austrian branch of the Rothschild bank (from which from 1855, the "Royal Privileged Austrian Credit-Institute for Commerce and Industry", the later Creditanstalt, was born) was playing a leading role in the banking center of Vienna. Salomon Mayer von Rothschild was involved during the pre-March in all major transactions of the National Bank for the rehabilitation of the state budget.

Special focus the National Bank was putting on the development of the premium that was payable at the exchange of banknotes into silver money in business dealings. The increase, which corresponded to a depreciation of the notes issued by the Bank should be prevented. From an overall state perspective, the increase of the silver premium means a deterioration in terms of the exchange ratio towards foreign countries, influencing the price competitiveness of the Austrian foreign trade adversely. The stabilization of the premium were set some limits. Although the height of the emission activitiy was depending on the Bank, but also the price of silver and the potential effects of increased government debt materially affected the silver premium. Especially the 1848 revolution and conflicts in the following years caused an increasement of the silver premium.

Mid-century, the private banking and wholesale houses were no longer able to cope with the rapidly growing financial intermediation of the Habsburg monarchy. New forms of capital formation were required. From an initiative of the House of Rothschild, the first by the government approved and private joint-stock bank was created. This formation was followed in 1863 and 1864 by two other joint-stock banks, whose major shareholders included important personalities of the aristocracy, who possessed large liquid funds. Overall, grew with these banks the money creation potential of the "financial center of Vienna".

The central bank faced another difficult task: with its limited resources it had to secure sufficient liquidity on the one hand and on the other hand prevent the inflationary expansion of the money supply. Through close contacts with the shareholders of Vienna was a financial center (informal) ballot, especially in times of crisis, easily dealt out. In contrast, it gave differences of opinion in the Fed Board, which required enforcement of decisions.

In 1861, Friedrich Schey Koromla became director of the National Bank. On 27 December 1862 experienced the Bankprivilegium another innovation. The independence of the National Bank of the State was restored and anchored. Furthermore, was introduced the direct allocation of banknotes in circulation by the system of "Peel'schen Bank Act", which states that the fixed budget of 200 million guilders exceeding circulation of banknotes must be covered by silver coins. In 1866, when the German war ended in defeat for Austria, the compliance of the system was no longer met. The state felt itself forced to pay compensation for breach of privilege. This balance was supported by a law of 1872, after the National Bank may issue notes up to a maximum of 200 million guilders and each additional payment must be fully backed by gold or silver.

1873 the economic boom of the Habsburg monarchy was represented in a long-lasting rise in the share price. A now to be expecting break could by the behavior of the Vienna Stock not be intercepted, so it came to the "Great Crash of 1873". The in 1872 fixed restrictions of the circulation of notes for a short time have been suspended. Contrary to expectations, the money supply in crisis peak but only outgrew by nearly 1% the prescribed limit in the bank acts. The banks and the industrial and commercial companies survived the crash without major losses, although the share prices significantly lay below the initial level.

The years with high growth were followed by a period of stagnation.

1878-1922

As part of the compensation negotiations between Austria and Hungary in 1867, the National Bank was able to exercise fully their Privilegialrechte, the Kingdom of Hungary but now had the certified right, every ten years exercisable, to found an own central bank (bank note). As resulted from the first 10 -year period that furthermore none of the two parts of the monarchy wanted to build an independent money-issuing bank (Zettelbank), was built on 28 June 1878, initially to 31 December 1887 limited, an Austro-Hungarian Bank, and equipped with the Fed privilege. The first privilege of the new bank was a compromise in which on the one hand, regulations on liability for national debts as well as regulations limiting the influence of the government on banking businesses were included. 1878 Gustav Leonhardt was Secretary of the Bank.

The General Assembly and the General Council formed the unit of the bank management. Two directorates and major institutions - in Vienna and Budapest - represented the dual nature of the bank. 1892-1900 followed a long discussion finally the currency conversion from guilders (silver currency) to the crown (gold standard) with "Gold Crown" said coins.

Since the new banknotes were very popular in the public, now many gold coins piled up in the vaults of the Austro-Hungarian Bank. This period was characterized by a balanced combination of price growth and damping, the "per capita national product" grew while prices remained mostly stable. Against this background, it was easy for the Fed to encourage a new wave of industrialization.

With a third privilege in 1899 conditions were established under which the bank could be put into the financial services of the two countries, on the other hand there have been important innovations that paved a good exchange policy. By 1914, the exchange ratio of the Austro-Hungarian currency was unchanged with only minor fluctuations. In contrast, was the by conflicts marked political development.

The expansive foreign policy quickly led to high costs from which had to be shouldered by the central bank a significant part. The stability of the currency was in danger. Shortly after the beginning of World War I in 1914, laid down the Military Command to indemnify any seized property with double the price. There was an increasing scarcity of goods, connected with an ongoing expansion of the money supply and finally the increase in the price level on the 16-fold.

The resulting cost of the war of the Dual Monarchy were covered to 40% on central bank loans and 60% through war bonds. Over the duration of the war, the power force built up in recent decades has been frozen at the end of the conflict in 1918, the real income of the workers had fallen to one-fifth of the last year of peace.

With the end of the war the end for the old order had come, too. The decay of Cisleithania and Transleithania caused in several successor states, despite the efforts of the central bank to maintain the order, a currency separation (see Crown Currency in the decay of the monarchy, successor states). First, a separate "Austrian management" of the bank was introduced. It was encouraged to shoulder the shortcomings of the state budget of the Republic of Austria founded in 1918.

The new South Slav state began in January 1919 stamping its crown banknotes. The newly founded Czechoslovak Republic retained the crown currency (to date), but their printed banknotes in circulation as of February 1919 with indications that now these ar Czechoslovak crowns. (The country could an inflation as experienced by Austria avoide.) In March 1919, German Austria began to stamp its crown banknotes.

The Treaty of Saint-Germain-en-Laye of 10 September 1919, by Austria on 25 October 1919 ratified and which on 16 July 1920 came into force, determined the cancellation and replacement of all crown banknotes of all successor states of Austria-Hungary as well as the complete liquidation of the Austro-Hungarian Bank under the supervision of the war winners. The last meetings of the Bank took place mid 1921 and at the end of 1922.

After a period of overvaluation of the crown the dollar rate rose from 1919 again. 1921, had to be paid over 5,000 Austrian crowns per dollar. In addition to the significant drop in the external value existed in Austria rising inflation. End of 1922 was ultimately a rehabilitation program with foreign assistance - the "Geneva Protocol" - passed which slowed down the inflation.

1922-1938

With Federal Law of 24 July 1922 the Minister of Finance was commissioned to build a central bank, which had to take over the entire note circulation plus current liabilities of the Austrian management of the Austro-Hungarian Bank. With Federal Law of 14 November 1922, certain provisions of the law were amended and promulgated the statutes of the Austrian National Bank. By order of the Federal Government Seipel I 29 December 1922, the Board of the Austrian Austro-Hungarian Bank issued authorization for the central bank union activity with 1 January 1923 have been declared extinct and was made known the commencement of operations of the Oesterreichische Nationalbank this day.

The statutes of the Austrian National Bank (OeNB) secured the independence from the state, the independence of the Bank under exclusion of external influences and the corresponding equity. First, the stabilization of the Austrian currency was at the forefront. With the Schilling Act of 20 December 1924 was the schilling currency (First Republic) with 1 Introduced in March 1925, it replaced the crown currency. For 10,000 crowns now you got a shilling.

As an important personality in terms of the order of the state budget, Dr. Victor Kienböck has to be mentioned. He was in the time from 1922 to 1924 and from 1926 to 1929 finance minister of the First Republic and from 1932 to 1938 President of the Austrian National Bank. Through his work remained the Austrian Schilling, also beyound the global economy crisis, stable. Under this condition, the Fed was able to cope with the large number of bank failures of the past.

1938-1945

According to the on 13th March issued Anschlussgesetz (annexation law) , the Reichsmark with order of the Fuehrer and Chancellor of 17 was March 1938 introduced in the country Austria and determines the course: A Reichsmark is equal to one shilling fifty pence. On the same day, the Chancellor ordered that the management of the to be liquidated National Bank was transferred to the Reichsbank.

With regulation of three ministers of the German Reich of 23 April 1938, the National Bank was established as a property of the Reichsbank and its banknotes the quality as legal tender by 25 April 1938 withdrawn; public funds had Schilling banknotes until 15th of may in 1938 to accept. All the gold and foreign exchange reserves were transferred to Berlin.

The Second World War weakened the Austrian economy to a great extent, the production force after the war corresponded to only 40% of that of 1937 (see also air raids on Austria). To finance the war, the Reichsbank brought to a high degree banknotes in circulation, which only a great victory of the kingdom (Reich) actual values would have been opposable. Since prices were strictly regulated, inflation virtually could be "banned" during the war.

1945-1998

In occupied postwar Austria about 10 billion shillings by Allied military occupying powers were initially printed, which contributed to significant price increases.

With the re-establishment of the Republic of Austria by the Austrian declaration of independence of 27 April 1945, it came to the resumption of activities of the Oesterreichische Nationalbank. By the "Fed Transition Act" of July 1945 preliminary legal regulations for the operations of the Bank have been established. The restoration of the Austrian currency was their first big job. The goal was the summary of all currencies, which at the time were in circulation, and their secondment to a new Austrian currency. The "Schilling Act" of November 1945, the basis for the re-introduction of the Schilling (Second Republic) as legal tender in Austria. The next step was to reduce excess liquidity to make necessary funds for new business investment available and to make the external value of the shilling for the development of the economy competitive. First, however, less changed the inflationary situation and also the shilling was still significantly undervalued in relation to other currencies.

The "Currency Protection Act" of 1947 brought a significant change in the monetary overhang. Some deposits have been deleted without replacement, others converted into claims against the Federal Treasury. The following exchange operations also significantly reduced the amount of cash: banknotes from 1945 were canceled and exchanged for new schilling notes in the ratio 1:3. Only 150 shillings per person could go 1-1.

To control inflation, the social partners came to the foreground. The associations of employers and employees set in 1947 prices for supplies, wages were also raised. This was the first of the five "wage-price agreements" of the social partners. In 1952, inflation was held back by limiting the use of monetary policy instruments by the National Bank. Also, the external sector slowly relaxed after the end of the Korean War.

In 1955, the Austrian National Bank was re-established by the new National Bank Act as a corporation and the by the National Bank Transition of Authorities Act (Nationalbank-Überleitungsgesetz) established provisional arragement abolished. The National Bank Act stipulated that each half of the capital should be situated at the federal government and private shareholders. In addition to the independence of bank loans of the state, the new National Bank Act also contained an order that the central bank must watch within their monetary and credit policies on the economic policies of the federal government. From now on also included within the instruments of the National Bank were the areas open market and minimum reserve policy.

The Austrian economy increasingly stabilized, through good fiscal and monetary policy a high growth could be attained, with low inflation and long-term maintenance of external equilibrium.

1960, Austria joined the European Free Trade Association and participated in the European integration.

In the sixties came the international monetary system based on gold-dollar convertibility into currency fluctuations and political reforms were necessary. First, the loosening of exchange rate adjustments between several states was an option. However, U.S. balance of payments problems brought with it restrictions on capital movements, and then the Euro-Dollar market was born. In 1971, the convertibility of the U.S. dollar was lifted.

1975 interrupted a recession increasing growth time. International unbalanced ayments caused very extensive foreign exchange movements, whereby the intervention force of Austrian monetary policy has been strongly challenged. Their task now was to control the effect of foreign exchange on domestic economic activities to stabilize the shilling in the context of constantly shifting exchange rates and to control the price rise appropriately. Since the inflow of foreign funds reached to high proportions, so that the economic stability has been compromised, the policy went the way of the independent course design in a pool of selected European currencies.

The collapse of the economy forced the policy makers to a new course with active mutual credit control, subdued wage growth, financial impulses in supply and demand, and interest rates are kept low. This system of regulation, however, kept back the need for structural change, so it had to be given up in 1979. In the same year a fire destroyed large parts of the main building of the Austrian National Bank in Vienna. The repairs lasted until 1985.

Target in the eighties was to strengthen the economic performance using a competitive power comparison. The findings from the seventies stimulated the Austrian monetary policy to align the Schilling course at the Deutsche Mark to ensure price stability in the country. In addition, the structural change was initiated by inclusion in a large area. Stable, if not necessarily comfortable environment of monetary policy was a prerequisite, to secure the companies long-term productivity gains and thus safeguard their position in the economy.

Initially, this development stood a high level of unemployment in the way. Growth until the second half of the decade increased, at the same time increased the competitiveness and current accounts could be kept in balance.

In the nineties, the annexation of Austria took place in the European Community. 1995 Austria became a member of the European Union (EU) and joined the exchange rate mechanism of the European Monetary System. In 1998, the Central Banks (ESCB) have established the independence of institutions or bodies of the European Community and the governments of the EU Member States through an amendment to the National Bank Act of the Austrian National Bank to implement the goals and tasks of the European System. Thus, the legal basis for the participation of Austria in the third stage of Economic and Monetary Union (EMU) was created in 1999.

As of 1999

The Austrian National Bank, and other national central banks including the European Central Bank ( ECB), belongs to the European System of Central Banks.

On 1 January 1999 was introduced in the third stage of Economic and Monetary Union in Austria and ten other EU Member States, the euro as a common currency. The European Central Bank is henceforth responsible for monetary and currency policy, decisions in this regard will be taken in accordance with the Council of the European Central Bank.

Since May 2010, the OeNB is in full possession of the Republic of Austria, after originally lobbies, banks and insurance companies were involved with 50 % of the share capital in it. In 2011, the National Bank Act was adapted by an amendment (Federal Law Gazette I No. 50 /2011) in this circumstance, a renewed privatization is thus excluded by law.

The OeNB as a modern central bank

With the withdrawal from the retail business in the sixties as well as the first major internationalization and implementation of a strategic management in the seventies, the OeNB went on the way to a future-oriented central bank. Another major reform of banking began at the end of the eighties.

In terms of global development, the OeNB established in 1988 as a service company and expanded its guiding values - "security, stability and trust" - to the principles of " fficiency" and "cost-consciousness". The business center was optimized and strategic business experienced through targeted improvements a reinforcement. Be mentioned as examples are intensifying domestic cooperation in the area of payments by encouraging the creation of the Society for the Study co-payments (STUZZA), the liberalization of capital movements, the professional management of foreign exchange reserves, the improvement of the supply of money through the construction of the money center and the internationalization of business activities through the establishment of representative offices in Brussels (European Union), Paris (OECD) and the financial center of New York.

After Austria's accession to the EU in 1995, the OeNB participated in the European Monetary System (EMS ) and its Exchange Rate Mechanism. The integration in the third stage of Economic and Monetary Union (EMU) was the next step towards further development of policy stability. Since the conclusion of the Maastricht Treaty, the Austrian National Bank has very fully considered its role in the ESCB and created a basis for inclusion in the community. The profound economic and monetary policy of Austria was also a reference that qualified the OeNB to actively participate in the monetary future of Europe, a greater harmonization of the statistical framework and monetary policy instruments with a view to the euro system, the preparation of the issue of European banknotes, and the establishment of operational processes and organizational integration of business processes within the ESCB being specific objectives of the OeNB.

In the following, it came, inter alia, to the establishement of an economic study department, of an education or training initiative and to strengthen the position of payment transactions through the TARGET system.

A in 1996 created "OeNB master plan" provided important points for the upcoming transition to the euro.

In May 1998, a new pension system came into force, by which new employees were incorporated into a two-pillar model.

1999, Austria's participation in the third stage of EMU was manifest. The Austrian National Bank - as part of the ESCB - became the owner of the European Central Bank and received new powers in this context in the sense of participation in the monetary policy decision-making at the level of the European Community. With the introduction of the euro, monetary policy functions of the General Council have been transferred to the Governing Council. However, the implementation remains the responsibility of national central banks.

Activities of the Oesterreichische Nationalbank were or are, for example, the further professionalization of asset management, the expansion of the network of representative offices by opening a representative office in the financial center of London, preparation of the smooth introduction of euro cash in 2002 and the participation of the OeNB on the creation of the "A-SIT" (Center for secure Information Technology Center - Austria) and the "A-Trust" (society of electronic security systems in traffic GmbH ) in order to promote security in information technology.

de.wikipedia.org/wiki/Oesterreichische_Nationalbank

01-2010 U.S. Army Africa discussions on peacekeeping with Burundian military by U.S. Army Southern European Task Force, Africa

1

www.usaraf.army.mil

U.S. Army Africa supports Burundi's peacekeeping efforts in Somalia

By Rick Scavetta, U.S. Army Africa

BUJUMBURA, Burundi – When U.S. Army Col. Steve Smith recently joined discussions with Burundian generals about how Burundi conducts peacekeeping efforts in Somalia, he was leading the way for U.S. Army Africa partnerships on the continent.

In mid-January, Smith led a team to work with Burundian officers on ways to enhance Burundi’s leadership capacity as their military prepares to deploy its next rotation of peacekeepers to Mogadishu. Smith, of the U.S. Army’s Peacekeeping and Stability Operations Institute and Lt. Col. Ronald Miller, an Africa expert from U.S. Army Africa headquarters, held discussions with senior Burundian military officers at the Ministry of Defense in Bujumbura.

“We discussed the U.S. military’s way of planning for operations at the brigade level, using what we call MDMP, the military decision making process,” Smith said. “We also talked about how U.S. Army officers run a brigade-level command post.”

Burundi and Uganda share peacekeeping duties under the African Union Mission in Somalia, an operation designed to stabilize Somalia’s security situation following decades of war and chaos. African peacekeepers in Somalia face daily challenges as they mentor Somalis in security operations and work to counter extremist groups like al-Shabaab.

The U.S. Army effort is part of a larger effort by the U.S. government to support Burundi in its peacekeeping efforts, said Brig. Gen. Cyprien Ndikuryio, chief of Burundi’s land forces. The U.S. has helped with training and equipment, followed by these senior leader discussions, he said.

“My colleagues and I are senior officers. One of them, or I, could be appointed to higher responsibilities in Somalia’s peacekeeping mission and use what we have learned,” Ndikuryio said.

Until now, Burundi’s military planned missions similar to the way Belgian and French militaries work. The Ugandan People’s Defense Force, Burundi’s partner in AMISOM, already employs a planning system that is similar to the U.S. military, Smith said.

“It’s incredibly important for Burundi, as they are working alongside other armies using the U.S.-based model, to promote interoperability and overall efficiency,” Smith said.

In 2006, Burundi ended its 12-year civil war. Since then, Burundi has made strides toward partnering with its East African neighbors and the United States.

In October 2009, Burundian troops took part in Natural Fire 10, a U.S. Army Africa-led humanitarian and civil assistance exercise held in Uganda. During that time, Maj. Gen. William B. Garrett III, commander of U.S. Army Africa, visited Bujumbura to watch Burundian troops undergoing training with the U.S. State Department-led African Contingency Operations Training and Assistance program.

Burundian senior leaders then asked U.S. Army Africa to help with a familiarization event on brigade-level peacekeeping operations. Leaders from PKSOI at Carlisle Barracks in Pennsylvania offered their expertise for the event.

“This effort in Burundi has been a great opportunity for the U.S. Army to engage with a partner nation’s land forces on the continent,” Smith said. “There’s a tremendous potential here, a great thirst for knowledge.”

Smith’s Burundi assignment also benefits PKSOI in their efforts, he said.

“I’m taking back with me a better understanding of U.S. Army Africa operations and what’s happening on the ground in Africa,” Smith said. “That knowledge will help PKSOI plan to support future missions.”

The talks came at a key time for the Burundian military, as they prepare to deploy a new rotation of peacekeepers to Somali.

“This support was very important and effective,” Ndikuryio said. “We appreciate this cooperation with U.S. Army Africa. We hope to interact with the command in the future.”

Cleared for public release.

Photos by Rick Scavetta, U.S. Army Africa

To learn more about U.S. Army Africa visit our official website at www.usaraf.army.mil

Official Twitter Feed: www.twitter.com/usarmyafrica

Official YouTube video channel: www.youtube.com/usarmyafrica

200924-N-CL550-1222 by Naval Surface Warriors

PHILIPPINE SEA (Sept. 24, 2020) An MH-60S Seahawk helicopter from the “Archangels” of Helicopter Sea Combat Squadron (HSC) 25, Detachment 6, delivers stores to the flight deck of the amphibious dock landing ship USS Germantown (LSD 42) as the ship conducts a replenishment-at-sea with the fleet replenishment oiler USNS John Ericsson (T-AO 194). Germantown, part of Expeditionary Strike Group Seven (ESG 7), along with the 31st Marine Expeditionary Unit, is operating in the U.S. 7th Fleet area of responsibility to enhance interoperability with allies and partners, and serve as a ready response force to defend peace and stability in the Indo-Pacific region. (U.S. Navy photo by Mass Communication Specialist 2nd Class Taylor DiMartino)

Ferrari F12berlinetta, pearl, quiet light by David B.

12 6

Leica M240, Summilux-M 35mm ASPH FLE

My favorite F12 video:

Killing Tires With a Ferrari F12 -- /CHRIS HARRIS ON CARS

www.youtube.com/watch?v=cjp1xjOzJqY

The Ferrari F12berlinetta[3] (also unofficially referred to as the F12 Berlinetta or the F12) is a front mid-engine, rear-wheel-drive grand tourer produced by Italian sports car manufacturer Ferrari. The F12berlinetta, debuted at the 2012 Geneva Motor Show, replaces the 599 series grand tourers.[4] The naturally aspirated 6.3 litre Ferrari V12 engine in the F12berlinetta has won the International Engine of the Year Awards 2013 in the Best Performance category and Best Engine above 4.0 litres. The F12berlinetta was named "The Supercar of the Year 2012" by car magazine Top Gear.

In 2014 it was awarded the XXIII Premio Compasso d'oro ADI. Accepting the award was Ferrari’s Senior Vice President of Design, Flavio Manzoni.

Engine[edit]

The F12berlinetta uses a 6,262 cc (382 cu in), naturally aspirated 65° V12 engine of the Ferrari F140 engine family. Engine displacement is shared with the FF, but the F140 FC version installed on the F12 produces 740 PS (544 kW; 730 hp) at 8250 rpm[5] and 690 N·m (509 lb·ft) of torque at 6000 rpm, making it the most powerful Ferrari roadcar to date, only surpassed by LaFerrari. This allows the F12berlinetta to accelerate from 0 to 100 km/h (62 mph) in an officially reported 3.1 seconds, 0 to 200 km/h (120 mph) in 8.5 seconds and a top speed of over 350 km/h (220 mph).[1][2][6]

The engine of the F12berlinetta has been designed to be more efficient than that of the 599, as well as more powerful. The engine management system is fitted with Ferrari's HELE start-stop system to reduce fuel consumption when idling. Ferrari reports that the F12berlinetta can achieve 18 mpg-imp (15.7 L/100 km; 15.0 mpg-US) – a 30% improvement over the 599 – and produces CO2 emissions of 350 g/km.[4]

Transmission[edit]

Similar to the California, 458 Italia, FF and LaFerrari, the F12berlinetta transmits power through a 7-speed dual-clutch automated semi-automatic gearbox operated by the driver using paddle shifters behind the steering wheel. Compared to similar models, the F12berlinetta uses shortened gear ratios to match the power of the engine.[2][3]

Chassis[edit]

The F12berlinetta is built around an aluminium space frame chassis co-developed with Scaglietti. The chassis is made up of 12 different aluminium alloys and improves structural rigidity by 20% over the 599, whilst reducing weight by 70 kg (150 lb). The centre of gravity has been lowered by around 25 mm (1 in). The F12berlinetta's weight distribution is 48% front, 52% rear.[7]

Similar to other contemporary Ferrari models, the F12berlinetta uses Ferrari's third generation CCM3 carbon ceramic disc brakes with ABS, SCM-E magnetorheological suspension, an electronic LSD, ESP Premium stability control and F1-Trac traction control. The car's stability and traction control, suspension and other settings are controlled by the Manettino dial mounted on the steering wheel.[3]

Tires[edit]

The F12berlinetta is fitted with Michelin Pilot Super Sport tires, with the tyre codes 255/35ZR20 at the front and 315/35ZR20 at the rear.[8]

Aerodynamics[edit]

The F12berlinetta makes use of aerodynamic techniques based on Ferrari's 599XX and Formula One programmes, developed with wind tunnel and CFD testing. A notable feature is the Aero Bridge, an air channel running from the bonnet, through the flanks and along the sides of the vehicle, creating an effect that increases downforce. Another feature is Active Brake Cooling ducts, which open to direct cooling air only when the brakes are hot, keeping them closed at other times to reduce aerodynamic drag. The F12berlinetta produces 200 kg (440 lb) of downforce at 200 km/h (120 mph) – an increase of 76% over the 599 GTB – and has a drag coefficient of 0.299.[1][2][3]

Performance[edit]

Ferrari reports that the F12berlinetta is capable of lapping the Fiorano test circuit in 1 minute, 23 seconds; three seconds slower than LaFerrari, a full second faster than the 599 GTO, two seconds faster than the Enzo, two seconds faster than the 458 Italia, two seconds faster than the 430 Scuderia and three and a half seconds faster than the 599 GTB.[1]

Design[edit]

The body of the F12berlinetta is designed by the Ferrari Styling Centre and Pininfarina, and shares some styling elements with other recent Ferrari models. This includes a front grille similar to the FF and headlights shared with the FF and 458 Italia. The interior, based on the FF, features new "Frau leather" upholstery with aluminium, Alutex, and carbon fibre trim, and has increased luggage space compared to the 599.[2][3]

The body computer system is developed by Magneti Marelli Automotive Lighting.

One-offs and specials[edit]

Ferrari F12 TRS[edit]

The F12 TRS is a unique one-off with barchetta body based on the F12berlinetta, made for a customer by Ferrari under its Special Projects programme. It made its public debut in Sicily at Ferrari Cavalcade in June 2014. Designed in-house by the Centro Stile Ferrari headed by Flavio Manzoni, it was inspired by the 1957 250 Testa Rossa, reiterpreted in a modern key.[9][10] The Ferrari F12 TRS also took part to the 2014 Goodwood Festival of Speed.[11]

Ferrari SP America[edit]

The Ferrari SP America is a F12berlinetta-based one-off coupé completed in 2014, like the F12 TRS an offspring of Ferrari's Special Projects programme.[12]

Ferrari F60 America[edit]

The Ferrari F60 America is a limited production roadster derivative of the F12, celebrating 60 years of Ferrari in North America.[13] It was built by Ferrari in ten examples, according to the manufacturer all already spoken for at the time of the car's public introduction in October 2014.[14] The open-top configuration pays homage to US-only limited production convertible Ferraris of the past, such as the 275 GTS/4 NART Spider. Compared to the F12, the F60 has all-new bodywork; it uses a light removable soft top instead of a conventional convertible top. Each of the ten examples built features an asymmetrical cabin design with red trim for the driver's area and black for the passenger, American flag detailing in the center of the backrests of both seats, and classic blue and white North American Racing Team livery.

Touring Superleggera Berlinetta Lusso[edit]

At the March 2015 Geneva Motor Show Carrozzeria Touring unveiled the Touring Superleggera Berlinetta Lusso, an one-off two-seater, three-box coupé based on the F12berlinetta.[15] Carrozzeria Touring made the car on a client's request, rebodying the F12 in aluminium alloys and carbon fibre; a small production run of five examples was announced.[15]

Source: Wikipedia

en.wikipedia.org/wiki/Ferrari_F12berlinetta