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On November 13, 2012, the Financial Stability Oversight Council convened to vote on proposed recommendations for reform of money market mutual funds.
PHILIPPINE SEA (Oct. 8, 2018) Electronics Technician 2nd Class Darvey Lavender, from Austin, Texas, fires a M16 A4 service rifle on the flight deck of the Ticonderoga-class guided-missile cruiser USS Chancellorsville (CG 62) during a small arms qualification course. Chancellorsville is forward-deployed to the U.S. 7th Fleet area of operations in support of security and stability in the Indo-Pacific region. (U.S. Navy photo by Mass Communication Specialist 2nd Class Sarah Myers)
MEDFLAG 10 brought together U.S. military medical specialists and their colleagues from the Armed Forces of the Democratic Republic of Congo (FARDC) from Sept. 6-18, 2010, in Kinshasa for professional training, exchange and partnership building, and for service to the Congolese people.
Browse through this set of photos and read reports from the exercise for a fuller picture of this annual event, which promotes stability, prosperity and peace in Africa.
MASS CASUALTY, FIRST RESPONDERS EXERCISE IS CULMINATION OF MEDFLAG 10
U.S. Army photos by Staff Sgt. Kassidy Snyder and Sgt. James D. Sims
Congolese and American medical specialists participating in MEDFLAG 10 conducted a mass casualty exercise Sept. 16 as the culminating training event of the 10-day exercise.
The exercise followed four days of humanitarian assistance to Kinshasa residents by the combined forces.
Thursday’s scenario centered on a simulated bus crash resulting in approximately 50 casualties, and highlighted Armed Forces of the Democratic Republic of the Congo’s quick reaction force (FARDC UMIR) demonstrating their techniques and skills as first responders to a catastrophe.
“My role was to check the level of bleeding and monitor the patient’s blood pressure once they arrived,” said Ndaya Lilian, a female UMIR laboratory technician. “Outside of the military I am a specialist in child delivery, and the experience and knowledge I gained over the last few weeks will help me out tremendously in the future.”
The UMIR unit demonstrated its expertise in three areas of response: picking up of casualties, triage at the advanced medical point, and a mobile surgery hospital. The hospital included three main services: emergencies, surgery room combined with intensive care and hospitalization.
As the exercise progressed, 1st Lt. Coty Sicble, a medical administrator with the North Dakota National Guard’s 814th Army Support Medical Company based in Bismarck, gave the audience a step-by-step narration of the action taking place. Sicble described the intense preparation and execution the UMIR members demonstrated during the exercise.
After the mass casualty exercise, participants conducted a closing ceremony at the Command and Staff College in Kinshasa, where the MEDFLAG 10 exercise first began Sept. 6.
“MEDFLAG 10 has taken place and was a moment of an intense scientific, technical, social and psychological communion in perfect harmony between the American forces and FARDC respective health services,” said FARDC Surgeon General Col. Gilbert Kabanda, during the closing ceremony, Sept. 17.
As part of MEDFLAG 10, U.S. and Congolese troops worked closely together to increase the combined readiness of their medical forces to respond to humanitarian emergencies. MEDFLAG is a key program in United States efforts to partner with the government of the Democratic Republic of the Congo to further the development of a professional military that is accountable to civilian authority, and provides stability and security to the people.
“We can confirm, without contradiction, that MEDFLAG 10 has achieved all its objectives assigned by both military hierarchies, American and Congolese,” said Kabanda.
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
MEDFLAG DELIVERS HUMANITARIAN ASSISTANCE IN KINSHASA
U.S. Army photos by Sgt. James D. Sims and Staff Sgt. Kassidy Snyder
Crowds gathered, some with pre-registered tickets in hand, others with just a hope of being seen by a healthcare professional in Kinshasa Sept. 9.
“I saw a crowd of people and asked what was going on,” said Ousmane Kalotho Mutuala, a Kinshasa resident. “When they told me it was for medical care, I immediately went and got my friend who can barely see because his eyes are so bad and came back to try and get in.”
The lines started forming hours before the humanitarian civic action site opened its doors for medical and dental care to the residents of Kinshasa. Residents that had tickets were registered in advance, ensuring they would be seen on a certain date. Even though some residents, like Mutuala, did not have tickets, medical providers saw them.
“Unfortunately there is a much bigger demand then what we have assets for,” said Maj. Curt Kroh of Washburn, N.D., a physician assistant with the North Dakota National Guard’s 814th Army Support Medical Company, which is based in Bismarck. “However, we stayed until we ran out of time and material.”
Kroh is taking part in MEDFLAG 10, a joint medical exercise that allows U.S. military medical personnel and their Armed Forces of the Democratic Republic of the Congo (FARDC) counterparts to work side by side while providing humanitarian assistance to Kinshasa residents.
Approximately 25 FARDC and U.S. medical and dental personnel, and an additional 50 support staff, provided services. Over a four-day period, FARDC and U.S. medical personnel provided assistance to approximately 2,000 Congolese.
Patients were treated for various illnesses ranging from high blood pressure to malaria. The most common problem encountered was residents with eye problems, because they have never been examined, said Kroh. In addition to medical attention, dentists provided care ranging from basic oral hygiene to tooth extraction.
“The bulk of the medical care that was provided in the exam rooms was by FARDC doctors,” said Kroh. “The FARDC doctors are very well involved in the treatment of the local population.”
While all residents could not be seen and all problems could not be treated, residents were entered into the medical system and given referral letters for follow-up care.
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
AIR FORCE DENTISTS TRAIN WITH CONGOLESE PEERS, RENDER ASSISTANCE TO KINSHASA RESIDENTS
U.S. Army photos by Sgt. James D. Sims
Taking a vacation or going home for the holidays brings to mind a picture of having fun and spending time with family.
However, for family members of embassy staff, a trip back to Europe or the United States means finally having the opportunity to visit the dentist — at least until this week.
“It’s been about two years that I’ve been trying to get to the dentist,” said Kathryn Anne Crowder, a family member of an embassy worker in Kinshasa, Democratic Republic of the Congo. “So this is a much needed visit.”
Crowder was one of about 35 patients seen by three Air Force Reserve dentists visiting the DRoC as part of MEDFLAG 10, an annual joint medical training exercise that allows U.S. military service members to work side by side with their African counterparts. In addition to training, the joint forces also provide humanitarian and civic assistance to local residents.
“Working with the local population has given us the feeling we are reaching those that really need it,” said Lt. Col. Jacqueline Garcia-Castellanos of Miami, a member of the 482nd Aeromedical Dental Squadron, based at Homestead Air Reserve Base, Fla.
Both American and Congolese dental professionals spent several days in classroom training reviewing the necessity of basic oral hygiene and preventive care before providing assistance to Kinshasa residents.
Medical and dental staff will assess roughly 2,000 cases and provide the necessary care to Congolese citizens during a four-day period of the exercise.
“The experience has been quite enlightening,” said Garcia-Castellanos. “It has given us the opportunity to engage in active dental care side by side with the Congolese army dental corps, and the exchange has been excellent.”
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
ILLINOIS CHAPLAINS FIND COMMON GROUND WITH PEERS IN KINSHASA, PAY VISIT TO WELCOMING CHURCH
U.S. Army photos by Staff Sgt. Kassidy L Snyder.
Three and a half years to build; more than 6,000 members; completely debt free — a church is built by the people for the people.
“This church is the fruit of the sacrifices of our people,” said Guy-Roger Dang, associate pastor at Centre Evangelique La Resurrection in Kinshasa, Democratic Republic of Congo.
The two-story church standing in the middle of Kinshasa will celebrate the one-year anniversary of its opening in December.
Illinois National Guard Chaplain (Col.) Daniel Krumrei, along with chaplain assistant Sgt. 1st Class David Penny, were welcomed by the pastor and his congregation as they made a visit of goodwill.
“We are very happy and encouraged to see people of other countries come to visit our church,” said Dang.
The church proudly displays multiple flags on its altar to signify the different countries of its visitors.
Krumrei of Springfield, Ill., and Penny of Buckley, Ill., are in Africa with MEDFLAG 10, a joint medical exercise aimed at providing humanitarian assistance to the Congolese people. The chaplain and his assistant’s primary mission is to take care of service members involved in the exercise, both personally and spiritually.
In addition to supporting U.S. service members, the ministry team is engaging with chaplains of the Armed Forces of Democratic Republic of Congo (FARDC). “Our Congolese counterparts showed special interests in discussing areas of trauma, family care and post-traumatic stress,” Krumrei said.
The Illinois National Guard ministry team is conducting a three-day workshop with FARDC chaplains, aimed at bringing peace within the country and to the people, he said.
This is the first visit to Africa for the ministry team; however, the mission is a familiar one. Krumrei has been a chaplain for more than 25 years and visited ,many countries. “Each mission is a privilege, and it is important to understand our similarities and differences so we can work together to accomplish the overall mission,” Krumrei said.
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
MEDFLAG 2010 SKILLS EXCHANGE SEPT. 10, 2010
Approximately 40 U.S. service members shared medical techniques and procedures with their Congolese counterparts Friday at the Command and Staff College in Kinshasa, Democratic Republic of Congo, as part of MEDFLAG 10.
“We are showing them how we approach patient care, giving them pointers and seeing what we can do to help improve and fine tune their skills,” said Sgt. Stuart Hammer of Mandan, N.D., a combat medic with the 814th Army Support Medical Company, Detachment 1, based in Grand Forks.
U.S. service members are exchanging medical techniques with the Armed Forces of Democratic Republic of Congo Immediate Response Unit (FARDC UMIR) and medics, who are the Congolese military’s first responders to disasters.
“We taught classes on malaria, tuberculosis, infectious diseases, parasites, and hypertension,” all subjects related to tropical Africa, said Capt. Itofe-Engulu Desire, a 16-year veteran doctor with FARDC.
Classes led by U.S. service members included arriving at the scene of an incident, assessing casualties, and treating and preparing patients for transport. The 814th brought training aids, including a U.S. Army issued medic bag and moulage, modeling material used to devise mock injuries for added realism.
Pvt. 2nd Class Ndalaga-Sango Augustino, a nurse with the FARDC UMIR, said the U.S. medics taught her and her fellow soldiers about battlefield evacuation procedures, while the UMIR practitioners taught the Americans different techniques for bandaging patients. The exchange of techniques was beneficial to both groups, she said.
“We’ve shared a lot of good ideas and have gotten some techniques from them that I never would have thought of, such as different patient carries and bandaging of patients,” said Spc. Ricky Smith of Fargo, a combat medic with Detachment 1.
The battery of classes is leading up to a mass casualty exercise that will take place Sept. 16, in which the FARDC UMIR soldiers will demonstrate how their disaster response operations.
The UMIR’s Company 3 responded to the oil tanker truck that overturned in the eastern Congo in July, bursting into flames killing at least 230 and injuring more than 200. The UMIR soldiers are anxious to show their countrymen their skills and how, with better equipment and more trained soldiers, they would be able to better treat casualties in the event of a similar disaster, said Smith.
“In the end, we hope they can gain anything that makes them more adequate at saving lives,” said 1st Lt. Coty Sicble of Bismarck, a medical administrator with the 814th based in Bismarck.
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
MEDFLAG 10 KICKS OFF WITH OPENING CEREMONY IN KINSHASA, 6 Sept., 2010
U.S. Armed Forces along with the Armed Forces of Democratic Republic of Congo (FARDC) held an opening ceremony Sept. 6 at the Command and Staff College in Kinshasa, Democratic Republic of Congo, to signify the start of MEDFLAG 10, a joint medical exercise.
“Today and throughout the exercise, we gather together as military personnel and civilians working together in the spirit of friendship and cooperation,” said Lt. Col. Todd Johnston, the MEDFLAG 10 U.S. forces task force commander. “It is inspiring to look back at where we have come from and look forward to where we are going.”
The ceremony began with the arrival of distinguished guests, including Luzolo Bambi, Minister of Justice and Human Rights for the Democratic Republic of Congo; Charge d’ Affaires Samuel Laeuchli; Maj. Gen. Marcelin Lukama, FARDC Chief of Defense Forces; and Col. Gilbert Kabanda, FARDC surgeon general.
The FARDC military police presented honors while the FARDC music battalion performed both countries’ national anthems.
“It is my hope that our respective national organizations will learn something about each other as they work together over the coming weeks,” said Luzolo. “In the end, it is about saving lives and minimizing human suffering in the event of a disaster.”
Following the opening ceremony, U.S. medical personnel began classroom instruction with the FARDC on familiarization of malaria signs, symptoms, causes and treatments. Both armed forces will continue classroom instruction on various medical topics for the next four days. After all classroom instruction is completed both forces will work side by side to provide humanitarian assistance to Congolese citizens.
MEDFLAG 10 will conclude Sept. 18.
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
MEDFLAG PREPARES FOR TAKE OFF SEPT. 6, 2010
Participants arrived in Kinshasa, Democratic Republic of Congo and began to prepare for MEDFLAG 10, a joint medical exercise focused on humanitarian assistance that will take place Sept. 6-18 in Kinshasa.
MEDFLAG 10 is the latest in a series of exercises involving U.S. military forces and partner militaries in Africa with the aim of establishing and developing military interoperability, regional relationships, synchronization of effort and capacity building.
“As we approach the culmination of months of strenuous preparation on both our parts, we look forward to the beginning of a successful exercise and ongoing efforts with the Congolese forces,” said Lt. Col. Todd Johnston, MEDFLAG 10 Task Force Commander for U.S. forces.
Approximately 100 U.S. military personnel and 250 Congolese military personnel will work together to increase the combined readiness of their medical forces to respond to humanitarian emergencies.
“When working on the same objective it is important to have the same procedures,” said Col. Gilbert Kabanda, the Armed Forces of the Democratic Republic of Congo Surgeon General. “Without uniformity it is hard to reach our goal.”
MEDFLAG is an annual medical exercise that brings together U.S. military personnel with counterparts from militaries throughout Africa. MEDFLAG was initiated in 1987 as a U.S. European Command-sponsored, bilateral medical exercise to facilitate an exchange of medical information and techniques with militaries in Africa. In 2009, the MEDFLAG exercise transitioned to AFRICOM oversight.
Congolese forces participating in the exercise include the Unit Medical Immediate Response of the Armed Forces of the Democratic Republic of Congo.
U.S. forces participating in the exercise include U.S. Africa Command (AFRICOM); U.S. Army Africa; U.S. Marine Corps; 5th Signal Brigade; 21st Theater Sustainment Command; 139th Mobile Public Affairs Detachment, Illinois Army National Guard; 349th and 482nd Aeromedical Dental Squadrons; 404th Civil Affairs; 409th Contracting; 814th Medical Company, North Dakota Army National Guard; 772nd Civil Support Team; the 943rd
and 940th Aeromedical Dental Flights; and Naval Reserve Support Activity, New Orleans Team; and the 943rd and 940th Aeromedical Dental Flights.
Previous MEDFLAG exercises have taken place in Botswana, Burundi, Cameroon, Cape Verde, Chad, Gabon, Georgia Republic, Ghana, Mauritania, Morocco, Mozambique, Nigeria, Romania, Rwanda, Senegal, South Africa, Swaziland, Lesotho and Malawi.
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 Vimeo video channel: www.vimeo.com/usarmyafrica
Review . . great strength and confidence inspiring stability. When my Kupo Baby Roller stand is not quite big enough, this stand always is.
I recently used this stand with an offset (7 in.) light above & offset reflector below. As shown, the Footprint diameter is slightly reduced to a studio friendly 114cm taking the (heavy) castor pivot as the index - making this stand hugely more stable than any C-stand - even more so with the castors removed and the footprint maximised. In comparison, the longest leg of an MSE C-stand reaches just 47 cm from the centre column.
I'd normally have a punctured yellow tennis ball on the top of that lower Alu bar and maybe also on the Additional Socket For Super Clamp SKU 335AS stud, attached to the lowest superclamp
The full length welded-in steel Baby Pin top fitting and all steel construction (capacity; 58lbs - 26.3kg) means that it is fully capable of accepting anything I own - up to and easily including a 4.5 Kg Battery-on-board Monolight/Large modifier combo, correctly balanced, at 120 cm offset on a steel boom.
On removing the (third-party) 4in. lockable castors (£25.68 & were nominally for 25 mm X 25 mm square legs and 45 degree deployment) and arranging the struts to be parallel to the floor, the stand achieves its impressive optimal stability and its full Footprint diameter of 128cm - the leg to floor angle being 36 degrees instead of the 45 as shown. I find the levelling leg to be highly desirable if setting up outside on a gradient. Need nesting? Use 'Reverse' stands if you need something deployed nearby - but usually I use a sidearm from this stand.
After extended use, when required and usually outside in the wind, I have become confident sandbagging this stand's tripod base up to 75Kg (that's 165 pounds). (Balancing a boom etc is a totally separate additional exercise.) Naturally the Wt is applied 'fairly' to the centre column immediately above the apex of the tripod base, such that it's effect is as close to the Footprint centre as practicable - and - the weights are kept off the ground. I use 24KN karabiners to prusik loops (3) on the column. Note that this is a statement of my occasional practice when required and not a recommendation (although this stand copes very easily).
It's quite big and certainly heavy (did I mention that it reaches to 4.14 m?) - and its tripod base required a re-build due to uncharacteristic 'sub par' assembly by MSE. I may use my heavy duty 'Reverse' stands overall more frequently than this one, but now, with the option of 3rd party wheels, I really like this magnificent, confidence inspiring, potentially tall, sprung riser, good value, very strong 'Baby pin' stand, indoors and out. Matthews Steel Digital Baby Stand 387032.
MEDFLAG 10 brought together U.S. military medical specialists and their colleagues from the Armed Forces of the Democratic Republic of Congo (FARDC) from Sept. 6-18, 2010, in Kinshasa for professional training, exchange and partnership building, and for service to the Congolese people.
Browse through this set of photos and read reports from the exercise for a fuller picture of this annual event, which promotes stability, prosperity and peace in Africa.
MASS CASUALTY, FIRST RESPONDERS EXERCISE IS CULMINATION OF MEDFLAG 10
U.S. Army photos by Staff Sgt. Kassidy Snyder and Sgt. James D. Sims
Congolese and American medical specialists participating in MEDFLAG 10 conducted a mass casualty exercise Sept. 16 as the culminating training event of the 10-day exercise.
The exercise followed four days of humanitarian assistance to Kinshasa residents by the combined forces.
Thursday’s scenario centered on a simulated bus crash resulting in approximately 50 casualties, and highlighted Armed Forces of the Democratic Republic of the Congo’s quick reaction force (FARDC UMIR) demonstrating their techniques and skills as first responders to a catastrophe.
“My role was to check the level of bleeding and monitor the patient’s blood pressure once they arrived,” said Ndaya Lilian, a female UMIR laboratory technician. “Outside of the military I am a specialist in child delivery, and the experience and knowledge I gained over the last few weeks will help me out tremendously in the future.”
The UMIR unit demonstrated its expertise in three areas of response: picking up of casualties, triage at the advanced medical point, and a mobile surgery hospital. The hospital included three main services: emergencies, surgery room combined with intensive care and hospitalization.
As the exercise progressed, 1st Lt. Coty Sicble, a medical administrator with the North Dakota National Guard’s 814th Army Support Medical Company based in Bismarck, gave the audience a step-by-step narration of the action taking place. Sicble described the intense preparation and execution the UMIR members demonstrated during the exercise.
After the mass casualty exercise, participants conducted a closing ceremony at the Command and Staff College in Kinshasa, where the MEDFLAG 10 exercise first began Sept. 6.
“MEDFLAG 10 has taken place and was a moment of an intense scientific, technical, social and psychological communion in perfect harmony between the American forces and FARDC respective health services,” said FARDC Surgeon General Col. Gilbert Kabanda, during the closing ceremony, Sept. 17.
As part of MEDFLAG 10, U.S. and Congolese troops worked closely together to increase the combined readiness of their medical forces to respond to humanitarian emergencies. MEDFLAG is a key program in United States efforts to partner with the government of the Democratic Republic of the Congo to further the development of a professional military that is accountable to civilian authority, and provides stability and security to the people.
“We can confirm, without contradiction, that MEDFLAG 10 has achieved all its objectives assigned by both military hierarchies, American and Congolese,” said Kabanda.
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
MEDFLAG DELIVERS HUMANITARIAN ASSISTANCE IN KINSHASA
U.S. Army photos by Sgt. James D. Sims and Staff Sgt. Kassidy Snyder
Crowds gathered, some with pre-registered tickets in hand, others with just a hope of being seen by a healthcare professional in Kinshasa Sept. 9.
“I saw a crowd of people and asked what was going on,” said Ousmane Kalotho Mutuala, a Kinshasa resident. “When they told me it was for medical care, I immediately went and got my friend who can barely see because his eyes are so bad and came back to try and get in.”
The lines started forming hours before the humanitarian civic action site opened its doors for medical and dental care to the residents of Kinshasa. Residents that had tickets were registered in advance, ensuring they would be seen on a certain date. Even though some residents, like Mutuala, did not have tickets, medical providers saw them.
“Unfortunately there is a much bigger demand then what we have assets for,” said Maj. Curt Kroh of Washburn, N.D., a physician assistant with the North Dakota National Guard’s 814th Army Support Medical Company, which is based in Bismarck. “However, we stayed until we ran out of time and material.”
Kroh is taking part in MEDFLAG 10, a joint medical exercise that allows U.S. military medical personnel and their Armed Forces of the Democratic Republic of the Congo (FARDC) counterparts to work side by side while providing humanitarian assistance to Kinshasa residents.
Approximately 25 FARDC and U.S. medical and dental personnel, and an additional 50 support staff, provided services. Over a four-day period, FARDC and U.S. medical personnel provided assistance to approximately 2,000 Congolese.
Patients were treated for various illnesses ranging from high blood pressure to malaria. The most common problem encountered was residents with eye problems, because they have never been examined, said Kroh. In addition to medical attention, dentists provided care ranging from basic oral hygiene to tooth extraction.
“The bulk of the medical care that was provided in the exam rooms was by FARDC doctors,” said Kroh. “The FARDC doctors are very well involved in the treatment of the local population.”
While all residents could not be seen and all problems could not be treated, residents were entered into the medical system and given referral letters for follow-up care.
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
AIR FORCE DENTISTS TRAIN WITH CONGOLESE PEERS, RENDER ASSISTANCE TO KINSHASA RESIDENTS
U.S. Army photos by Sgt. James D. Sims
Taking a vacation or going home for the holidays brings to mind a picture of having fun and spending time with family.
However, for family members of embassy staff, a trip back to Europe or the United States means finally having the opportunity to visit the dentist — at least until this week.
“It’s been about two years that I’ve been trying to get to the dentist,” said Kathryn Anne Crowder, a family member of an embassy worker in Kinshasa, Democratic Republic of the Congo. “So this is a much needed visit.”
Crowder was one of about 35 patients seen by three Air Force Reserve dentists visiting the DRoC as part of MEDFLAG 10, an annual joint medical training exercise that allows U.S. military service members to work side by side with their African counterparts. In addition to training, the joint forces also provide humanitarian and civic assistance to local residents.
“Working with the local population has given us the feeling we are reaching those that really need it,” said Lt. Col. Jacqueline Garcia-Castellanos of Miami, a member of the 482nd Aeromedical Dental Squadron, based at Homestead Air Reserve Base, Fla.
Both American and Congolese dental professionals spent several days in classroom training reviewing the necessity of basic oral hygiene and preventive care before providing assistance to Kinshasa residents.
Medical and dental staff will assess roughly 2,000 cases and provide the necessary care to Congolese citizens during a four-day period of the exercise.
“The experience has been quite enlightening,” said Garcia-Castellanos. “It has given us the opportunity to engage in active dental care side by side with the Congolese army dental corps, and the exchange has been excellent.”
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
ILLINOIS CHAPLAINS FIND COMMON GROUND WITH PEERS IN KINSHASA, PAY VISIT TO WELCOMING CHURCH
U.S. Army photos by Staff Sgt. Kassidy L Snyder.
Three and a half years to build; more than 6,000 members; completely debt free — a church is built by the people for the people.
“This church is the fruit of the sacrifices of our people,” said Guy-Roger Dang, associate pastor at Centre Evangelique La Resurrection in Kinshasa, Democratic Republic of Congo.
The two-story church standing in the middle of Kinshasa will celebrate the one-year anniversary of its opening in December.
Illinois National Guard Chaplain (Col.) Daniel Krumrei, along with chaplain assistant Sgt. 1st Class David Penny, were welcomed by the pastor and his congregation as they made a visit of goodwill.
“We are very happy and encouraged to see people of other countries come to visit our church,” said Dang.
The church proudly displays multiple flags on its altar to signify the different countries of its visitors.
Krumrei of Springfield, Ill., and Penny of Buckley, Ill., are in Africa with MEDFLAG 10, a joint medical exercise aimed at providing humanitarian assistance to the Congolese people. The chaplain and his assistant’s primary mission is to take care of service members involved in the exercise, both personally and spiritually.
In addition to supporting U.S. service members, the ministry team is engaging with chaplains of the Armed Forces of Democratic Republic of Congo (FARDC). “Our Congolese counterparts showed special interests in discussing areas of trauma, family care and post-traumatic stress,” Krumrei said.
The Illinois National Guard ministry team is conducting a three-day workshop with FARDC chaplains, aimed at bringing peace within the country and to the people, he said.
This is the first visit to Africa for the ministry team; however, the mission is a familiar one. Krumrei has been a chaplain for more than 25 years and visited ,many countries. “Each mission is a privilege, and it is important to understand our similarities and differences so we can work together to accomplish the overall mission,” Krumrei said.
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
MEDFLAG 2010 SKILLS EXCHANGE SEPT. 10, 2010
Approximately 40 U.S. service members shared medical techniques and procedures with their Congolese counterparts Friday at the Command and Staff College in Kinshasa, Democratic Republic of Congo, as part of MEDFLAG 10.
“We are showing them how we approach patient care, giving them pointers and seeing what we can do to help improve and fine tune their skills,” said Sgt. Stuart Hammer of Mandan, N.D., a combat medic with the 814th Army Support Medical Company, Detachment 1, based in Grand Forks.
U.S. service members are exchanging medical techniques with the Armed Forces of Democratic Republic of Congo Immediate Response Unit (FARDC UMIR) and medics, who are the Congolese military’s first responders to disasters.
“We taught classes on malaria, tuberculosis, infectious diseases, parasites, and hypertension,” all subjects related to tropical Africa, said Capt. Itofe-Engulu Desire, a 16-year veteran doctor with FARDC.
Classes led by U.S. service members included arriving at the scene of an incident, assessing casualties, and treating and preparing patients for transport. The 814th brought training aids, including a U.S. Army issued medic bag and moulage, modeling material used to devise mock injuries for added realism.
Pvt. 2nd Class Ndalaga-Sango Augustino, a nurse with the FARDC UMIR, said the U.S. medics taught her and her fellow soldiers about battlefield evacuation procedures, while the UMIR practitioners taught the Americans different techniques for bandaging patients. The exchange of techniques was beneficial to both groups, she said.
“We’ve shared a lot of good ideas and have gotten some techniques from them that I never would have thought of, such as different patient carries and bandaging of patients,” said Spc. Ricky Smith of Fargo, a combat medic with Detachment 1.
The battery of classes is leading up to a mass casualty exercise that will take place Sept. 16, in which the FARDC UMIR soldiers will demonstrate how their disaster response operations.
The UMIR’s Company 3 responded to the oil tanker truck that overturned in the eastern Congo in July, bursting into flames killing at least 230 and injuring more than 200. The UMIR soldiers are anxious to show their countrymen their skills and how, with better equipment and more trained soldiers, they would be able to better treat casualties in the event of a similar disaster, said Smith.
“In the end, we hope they can gain anything that makes them more adequate at saving lives,” said 1st Lt. Coty Sicble of Bismarck, a medical administrator with the 814th based in Bismarck.
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
MEDFLAG 10 KICKS OFF WITH OPENING CEREMONY IN KINSHASA, 6 Sept., 2010
U.S. Armed Forces along with the Armed Forces of Democratic Republic of Congo (FARDC) held an opening ceremony Sept. 6 at the Command and Staff College in Kinshasa, Democratic Republic of Congo, to signify the start of MEDFLAG 10, a joint medical exercise.
“Today and throughout the exercise, we gather together as military personnel and civilians working together in the spirit of friendship and cooperation,” said Lt. Col. Todd Johnston, the MEDFLAG 10 U.S. forces task force commander. “It is inspiring to look back at where we have come from and look forward to where we are going.”
The ceremony began with the arrival of distinguished guests, including Luzolo Bambi, Minister of Justice and Human Rights for the Democratic Republic of Congo; Charge d’ Affaires Samuel Laeuchli; Maj. Gen. Marcelin Lukama, FARDC Chief of Defense Forces; and Col. Gilbert Kabanda, FARDC surgeon general.
The FARDC military police presented honors while the FARDC music battalion performed both countries’ national anthems.
“It is my hope that our respective national organizations will learn something about each other as they work together over the coming weeks,” said Luzolo. “In the end, it is about saving lives and minimizing human suffering in the event of a disaster.”
Following the opening ceremony, U.S. medical personnel began classroom instruction with the FARDC on familiarization of malaria signs, symptoms, causes and treatments. Both armed forces will continue classroom instruction on various medical topics for the next four days. After all classroom instruction is completed both forces will work side by side to provide humanitarian assistance to Congolese citizens.
MEDFLAG 10 will conclude Sept. 18.
To learn more about U.S. Army Africa visit our official website at www.usaraf.army.mil
Official Twitter Feed: www.twitter.com/usarmyafrica
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MEDFLAG PREPARES FOR TAKE OFF SEPT. 6, 2010
Participants arrived in Kinshasa, Democratic Republic of Congo and began to prepare for MEDFLAG 10, a joint medical exercise focused on humanitarian assistance that will take place Sept. 6-18 in Kinshasa.
MEDFLAG 10 is the latest in a series of exercises involving U.S. military forces and partner militaries in Africa with the aim of establishing and developing military interoperability, regional relationships, synchronization of effort and capacity building.
“As we approach the culmination of months of strenuous preparation on both our parts, we look forward to the beginning of a successful exercise and ongoing efforts with the Congolese forces,” said Lt. Col. Todd Johnston, MEDFLAG 10 Task Force Commander for U.S. forces.
Approximately 100 U.S. military personnel and 250 Congolese military personnel will work together to increase the combined readiness of their medical forces to respond to humanitarian emergencies.
“When working on the same objective it is important to have the same procedures,” said Col. Gilbert Kabanda, the Armed Forces of the Democratic Republic of Congo Surgeon General. “Without uniformity it is hard to reach our goal.”
MEDFLAG is an annual medical exercise that brings together U.S. military personnel with counterparts from militaries throughout Africa. MEDFLAG was initiated in 1987 as a U.S. European Command-sponsored, bilateral medical exercise to facilitate an exchange of medical information and techniques with militaries in Africa. In 2009, the MEDFLAG exercise transitioned to AFRICOM oversight.
Congolese forces participating in the exercise include the Unit Medical Immediate Response of the Armed Forces of the Democratic Republic of Congo.
U.S. forces participating in the exercise include U.S. Africa Command (AFRICOM); U.S. Army Africa; U.S. Marine Corps; 5th Signal Brigade; 21st Theater Sustainment Command; 139th Mobile Public Affairs Detachment, Illinois Army National Guard; 349th and 482nd Aeromedical Dental Squadrons; 404th Civil Affairs; 409th Contracting; 814th Medical Company, North Dakota Army National Guard; 772nd Civil Support Team; the 943rd
and 940th Aeromedical Dental Flights; and Naval Reserve Support Activity, New Orleans Team; and the 943rd and 940th Aeromedical Dental Flights.
Previous MEDFLAG exercises have taken place in Botswana, Burundi, Cameroon, Cape Verde, Chad, Gabon, Georgia Republic, Ghana, Mauritania, Morocco, Mozambique, Nigeria, Romania, Rwanda, Senegal, South Africa, Swaziland, Lesotho and Malawi.
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 Vimeo video channel: www.vimeo.com/usarmyafrica
Breaking the tragedy of the horizon – climate change and financial stability.
Read the speech here:
www.bankofengland.co.uk/publications/Pages/speeches/2015/...
Copyright: Johnny Millar
MANILA, Philippines (Oct. 3, 2016) The amphibious dock landing ship USS Germantown (LSD 42) departs Manila after a port visit. Germantown, attached to Expeditionary Strike Group 7, is underway in the U.S. 7th Fleet area of operations in support of security and stability in the Indo-Asia Pacific region. (U.S. Navy photo by Petty Officer 2nd Class Raymond D. Diaz III/Released)
Please read my profile for more information about my craft.
This 75 carat handcrafted black stripes agate pendant is created swirling and shaping 10kt gold filled wire by hand, adding shells, Swarovski crystals and vintage black coral bead to enhance the natural beauty and shape of the stone. This unusual agate stone has shades of black, white and brown with a glass-like finish.
It measures 1 1/2" across and 2 1/2" top to tip including the bail.
The bail is designed to be large enough to accommodate your favorite chain, choker or cord, not included.
All purchases are nicely packaged in a gift box.
Agate's healing effects:
Spiritually- Inner stability and composure
Subconsciously- Protection, warmth, security
Mentally- Sense of reality
Physically- For the eyes and hollow organs. Protective stone during pregnancy.
Agate provides for balancing of Yin/Yang energy and for balancing of the physical, emotional and intellectual bodies with the Etheric energies. It stabilises the aura, providing for a cleansing effect that acts to smooth dysfunctional energies and to both transform and eliminate negativity. It further assists one in the development of precision in examination of oneself and of circumstances relevant to ones well being. Agate can be used to stimulate analytical capabilities and precision. It provides for perceptiveness to situations and awakens ones inherent talents and adroitness. It is also used to produce inspiration from and connectedness with the entities residing in the spiritual worlds. It has been reported to strengthen the sight, to diminish thirst and to promote marital fidelity.
Chakras: Base, Earth Star, Heart, Link, Navel, Sacral, Solar Plexus, Throat, Thymus
Astrological sign: Gemini
The Labour Party in Ireland is a social-democratic political party. The Party was founded in 1912 in Clonmel, County Tipperary, by James Connolly, James Larkin and William X. O'Brien as the political wing of the Irish Trade Union Congress. Unlike the other main Irish political parties, Labour does not trace its origins to the original Sinn Féin. In the 2011 general election it gained 37 of the 166 seats in Dáil Éireann, almost double its total of 20 in the 2007 election, making it the second largest political party in the 31st Dáil. The Labour Party has served in government for a total of nineteen years, six times in coalition either with Fine Gael alone or with Fine Gael and other smaller parties, and once with Fianna Fáil, giving it the second-longest time in government of Irish parties, next to Fianna Fáil. As of 9 March 2011 it is the junior partner in a coalition with Fine Gael for the period of the 31st Dáil.
The current party leader is Eamon Gilmore, elected in October 2007 alongside Joan Burton as deputy leader. Gilmore is the current Tánaiste (deputy prime minister).
The Labour Party is a member of the Socialist International and the Party of European Socialists, whilst the party's MEPs sit in the European Parliament group of the Progressive Alliance of Socialists and Democrats. Through these bodies Labour is linked with the Social Democratic and Labour Party in Northern Ireland.
SASEBO, Japan (Aug. 8, 2020) Boatswain’s Mate 1st Class Demour Christian, left from St. Croix, Virgin Islands, supervises while Boatswain's Mate 2nd Class Isaiah Valle, middle, from San Antonio, signals orders to the handbrake operators as the amphibious transport dock ship USS New Orleans (LPD 18) drops anchor. New Orleans, part of the America Expeditionary Strike Group, is operating in the U.S. 7th Fleet area of operations to enhance interoperability with allies and partners, and serves as a ready response force to defend security and stability in the Indo-Pacific region. (U.S. Navy photo by Mass Communication Specialist 2nd Class Kelby Sanders)
Special "High Stability" resistors with an extra pink band (sometimes called "salmon") to indicate their superior quality. From left to right, a modern 4.7kΩ for comparison, a 68kΩ, a 3.3kΩ, two 56kΩ, a 220kΩ and a 2.7kΩ. All are 5% tolerance (gold band) apart from the 56kΩ, which are 2% tolerance (red band). The modern resistor is a metal film type, but the older ones are carbon composition. They were wax coated for moisture-proofing.
United States Army Africa
MEDFLAG 09: Partnership strengthens ties and friendships
By Staff Sgt. Lesley Waters
CJTF-HOA Public Affairs
MANZINI, Swaziland – Partnership was the key to success during MEDFLAG 09, a U.S. Army Africa exercise held this August that benefited thousands of people in Swazi villages.
That partnership was built on cooperation between the U.S. military and government of Swaziland, said Maj. Gen. William B. Garrett III, commander of U.S. Army Africa.
“Our pledge is to continue to serve side-by-side with our national and international partners to promote security, stability and peace in Africa, and of course in Swaziland,” Garrett said. “MEDFLAG 09 has been an important demonstration of our commitment to our African and partnered nations.”
The exercise included the Umbutfo Swaziland Defence Force, the Swaziland Ministry of Health, U.S. Army Africa and U.S. Africa Command.
Swazi medical staff got firsthand tips from U.S. medical officers. Meanwhile, the U.S. troops learned how to overcome the challenges to offering healthcare in rural African villages, Garrett said.
At a medical professional exchange, a dozen Swazi military and civilian medics took part in a seminar with U.S. medical officers – sharing ideas that build capacity to work together in the future. Through “first responder” mentoring, 25 Swazi medics from the USDF and the health ministry gained important tools that can help them in a crisis.
Overall, 16 Swazi medics, both military and civilians, took part in joint medical missions in local communities that helped Swazi people in need.
“Our Soldiers learned important lessons about how to operate in Africa, while the Swazi medical staff increased their capabilities through our interaction,” Garrett said. “As an added benefit, the people of Swaziland received quality care from this partnership effort.”
During the two-week exercise, roughly 2,400 medical and dental treatments were performed during visits to Swazi villages. At veterinary clinics, nearly 10,500 animals received treatment.
While in Swaziland, Garrett visited the joint U.S.-Swazi medical teams and spoke at the closing ceremony, held Aug. 14 at USDF headquarters.
“American and Swazi medics worked side-by-side to improve our readiness and enhance our ability to work together in combined medical operations,” Garrett said.
U.S. and Swazi teams carried out six veterinary civil assistance projects (VETCAPs), including a two-day visit to Hhohho Village in Zinyane Province, one-day at Shiselweni Village in Mkhwakhweni Province, one day at Manzini Village in Matufseni Province and a two-day visit in Lubombo Village in Maloma Province. During the VETCAPs, the veterinary team treated 6,792 cattle, 3,381 goats, 195 sheep, 195 dogs, one horse and one pig.
They also operated and successfully removed a benign tumor growing on the throat of a cow on the first day of VETCAPs.
“It was an unexpected surprise,” said U.S. Army Maj. Michael Simpson, of the Fort Dix, New Jersey-based 404th Civil Affairs Battalion, who was leading veterinary efforts during MEDFLAG 09. “Even though the tumor was benign it was near the throat. If it continued growing, it would have cut off the cow’s air passage and it would have suffocated.”
As the U.S. and Swazi veterinary teams treated the Swaziland livestock, medical and dental teams treated the local villagers.
The medical teams, which consisted of members from the 212th Combat Support Hospital, the U.S. Army Center for Health and Preventive Medicine and the 21st Sustainment Command, treated 1,519 patients during the six medical civil assistance projects (MEDCAPs).
“We saw patients who had everything from the basic cold to an elderly woman who had a goiter,” said 2nd Lt. Matthew McCreery, MEDFLAG 09’s executive officer.
The dental team, which consisted of members from the 920th Aeromedical Staging Squadron, Patrick AFB, Fla.; 59th Medical Wing, Wilford Medical Hall, Texas; and 212th CSH, treated 262 patients and extracted 273 teeth during the six dental civil assistance projects (DENCAPs).
“We were able to gain the trust of the Swazi villagers,” said Air Force Col. Dean Whitman, oral and maxillofacial surgeon. “Conducting these sorts of missions is important so the Swazis know we have good intentions and our primary concern is to help.”
During MEDFLAG 09, both U.S. and Swazi personnel conducted classes on disaster medical planning and operations, a mass casualty exercise and humanitarian and civic outreach to local communities. Classes included first responder familiarization, disaster relief, preventive medicine and tropical medicine.
“The health of the Swazi people and their livestock is clearly very important,” said U.S. Army Lt. Col. Michael Money, co-director of MEDFLAG 09. “It is our distinct privilege to have worked side-by-side with our new found friends from the USDF and the Ministry of Health, to deliver medical and veterinary care in all four regions of this beautiful land.”
Cleared for public release.
Photos by Air Force Staff Sgt. Lesley Waters. CJTF-HOA Public Affairs
PHOTO CAPTION: Army Capt. Julie Bridges, center for health promotion and preventive medicine nurse, demonstrates different preventive illness techniques to Hhohho villagers during the second of a two-day combined medical and dental civil assistance project (MEDCAP and DENCAP) as part of exercise MEDFLAG 09 in Lubombo Village, Swaziland on Aug. 13.
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
Tree roots can sometimes grow above ground due to various factors. This phenomenon, known as "exposed roots" or "surface roots," can occur for several reasons: 1) Soil Erosion, erosion can remove the topsoil, exposing roots; 2) Impacted Soil, in compacted areas, roots may grow upwards in search of oxygen and nutrients; 3) Tree Species, some species, like maples and oaks, are more prone to surface rooting; 4) Environmental Conditions, poor drainage or flooding can lead to roots growing above ground to avoid waterlogged conditions.
Exposed roots can affect the stability of the tree and may pose tripping hazards in landscaped areas. Proper care and maintenance can help manage this issue.
Oesterreichische Nationalbank
Logo of the Austrian National Bank
Headquarters Vienna, Austria
Central Bank of Austria
Currency€
To ISO 4217 EUR
website
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.
Rockefeller Center - "Wisdom" by Lee Lawrie (1933), Art-Deco wall relief on RCA building.
The architectural relief depicts a man holding a set of calipers above the text, Wisdom and Knowledge Shall be the Stability of the Times. The Art Deco style is reflected in the angular body of the man as well as his long and geometric beard, the crown on his head and the cloud shapes behind the man.
Rockefeller Center was named after John D. Rockefeller, Jr., who leased the space from Columbia University in 1928 and developed it from 1930. Rockefeller initially planned a syndicate to build an opera house for the Metropolitan Opera on the site, but changed his mind after the stock market crash of 1929 and the Metropolitan's continual delays to hold out for a more favorable lease, causing Rockefeller to move forward without them. Rockefeller stated "It was clear that there were only two courses open to me. One was to abandon the entire development. The other to go forward with it in the definite knowledge that I myself would have to build it and finance it alone." He took on the enormous project as the sole financier, on a 27-year lease (with the option for three 21-year renewals for a total of 87 years) for the site from Columbia; negotiating a line of credit with the Metropolitan Life Insurance Company and covering ongoing expenses through the sale of oil company stock. The initial cost of acquiring the space and razing some of the building and construction of new building was an estimated $250,000,000 dollars; a staggering sum in 1930.
It was the largest private building project ever undertaken in modern times. Construction of the 14 buildings in the Art Deco style (without the original opera house proposal) began on May 17, 1930 and was completed in 1939. Principal builder, and "managing agent", for the massive project was John R. Todd and principal architect was Raymond Hood, working with and leading three architectural firms, on a team that included a young Wallace Harrison, later to become the family's principal architect and adviser to Nelson Rockefeller.
It was the public relations pioneer Ivy Lee, the prominent adviser to the family, who first suggested the name "Rockefeller Center" for the complex, in 1931. Junior initially did not want the Rockefeller family name associated with the commercial project, but was persuaded on the grounds that the name would attract far more tenants.
What could have become a major controversy in the mid-1930s concerned the last of the four European buildings that remained unnamed. Attempts were made by Ivy Lee and others to rent out the space to German commercial concerns and name it the Deutsches Haus. Junior ruled this out after being advised of Hitler's Nazi march toward World War II, and thus the empty office site became the International Building North.
This subsequently became the primary location of the U.S. operations of British Intelligence, British Security Coordination (BSC) during the War, with Room 3603 becoming the principal operations center for Allied intelligence, organized by William Stephenson, as well as the office of the future head of what was later to become the Central Intelligence Agency, Allen Welsh Dulles.
The Center is a combination of two building complexes: the older and original 14 Art Deco office buildings from the 1930s, and a set of four International-style towers built along the west side of Avenue of the Americas during the 1960s and 1970s (plus the Lehman Brothers Building). (The Time-Life Building, McGraw-Hill and News Corporation/Fox News Channel headquarters are part of the Rockefeller Center extension now owned/managed by the major private real estate firm, Rockefeller Group.)
In 1985, Columbia University sold the land beneath Rockefeller Center to the Rockefeller Group for 400 million dollars. The entire Rockefeller Center complex was purchased by Mitsubishi Estate, a real estate company of the Mitsubishi Group, in 1989, which fully bought out Rockefeller Group. In 2000, the current owner Jerry Speyer (a close friend of David Rockefeller), of Tishman Speyer Properties, L.P., together with the Lester Crown family of Chicago, bought for $1.85 billion the older 14 buildings and land from the previous syndicated owners: Goldman Sachs (which had 50 percent ownership), Gianni Agnelli, Stavros Niarchos, and David Rockefeller, who organized the syndicate in 1996 and is historically associated with the other partners.
The centerpiece of Rockefeller Center is the 70-floor, 872-foot (266 m) GE Building at 30 Rockefeller Plaza ("30 Rock", also the name of a comedy television show) formerly known as the RCA Building—centered behind the sunken plaza. The building is the setting for the famous Lunchtime atop a Skyscraper photograph, taken by Charles C. Ebbets in 1932 of workers having lunch, sitting on a steel beam, without safety harnesses. The 840-foot (260 m) drop lies below.
The building was renamed in the 1980s after General Electric (GE) re-acquired RCA, which it helped found in 1919. The famous Rainbow Room club restaurant is located on the 65th floor; the Rockefeller family office covers the 54-56th floors. The skyscraper is the headquarters of NBC and houses most of the network's New York studios, including 6A, former home of Late Night with David Letterman and Late Night with Conan O'Brien and current home of The Dr. Oz Show; 6B, home of Late Night with Jimmy Fallon; 8H, home of Saturday Night Live; plus the operations of NBC News, MSNBC and local station WNBC. NBC currently owns the space it occupies in the building as a condominium arrangement.
Unlike most other Art Deco towers built during the 1930s, the GE Building was constructed as a slab with a flat roof, where the Center's newly renovated observation deck, the Top of the Rock is located, which was first built in 1933. The $75 million makeover of the observation area was carried out by the Center's owner, Tishman Speyer Properties and was finally completed in 2005. It spans from the 67-70th floors and includes a multimedia exhibition exploring the history of the Center. On the 70th floor, reached by both stairs and elevator, there is a 20-foot (6.1 m) wide viewing area, allowing visitors a unique 360-degree panoramic view of New York City.
At the front of 30 Rock is the Lower Plaza, in the very center of the complex, which is reached from 5th Avenue through the Channel Gardens and Promenade. The acclaimed sculptor Paul Manship was commissioned in 1933 to create a masterwork (see below) to adorn the central axis, below the famed annual Rockefeller Center Christmas Tree, but all the other original plans to fill the space were abandoned over time. It wasn't until Christmas Day in 1936 that the ice-skating rink was finally installed and the popular Center activity of ice-skating began.
Rockefeller Center represents a turning point in the history of architectural sculpture: it is among the last major building projects in the United States to incorporate a program of integrated public art. Sculptor Lee Lawrie contributed the largest number of individual pieces — twelve — including the statue of Atlas facing Fifth Avenue and the conspicuous friezes above the main entrance to the RCA Building.
Paul Manship's highly recognizable bronze gilded statue of the Greek legend of the Titan Prometheus recumbent, bringing fire to mankind, features prominently in the sunken plaza at the front of 30 Rockefeller Plaza. The model for Prometheus was Leonardo (Leon) Nole, and the inscription from Aeschylus, on the granite wall behind, reads: "Prometheus, teacher in every art, brought the fire that hath proved to mortals a means to mighty ends." Although some sources cite it as the fourth-most familiar statue in the United States, behind the Lincoln Memorial, Mount Rushmore and the Statue of Liberty, Manship was not particularly fond or proud of it.
A large number of other artists contributed work at the Center, including Isamu Noguchi, whose gleaming stainless steel bas-relief, News, over the main entrance to 50 Rockefeller Plaza (the Associated Press Building) was a standout. At the time it was the largest metal bas-relief in the world. Other artists included Carl Milles, Hildreth Meiere, Margaret Bourke-White, Dean Cornwell, and Leo Friedlander.
In 1932, the Mexican socialist artist Diego Rivera (whose sponsor was Museum of Modern Art and whose patron at the time was Abby Aldrich Rockefeller, the wife of John D. Rockefeller, Jr.), was commissioned by their son Nelson Rockefeller to create a color fresco for the 1,071-square-foot (99 m2) wall in the lobby of the then RCA Building. This was after Nelson had been unable to secure the commissioning of either Matisse or Picasso. Previously Rivera had painted a controversial fresco in Detroit entitled Detroit Industry, commissioned by Abby and John's friend, Edsel Ford, who later became a MoMA trustee.
Thus it came as no real surprise when his Man at the Crossroads became controversial, as it contained Moscow May Day scenes and a clear portrait of Lenin, not apparent in initial sketches. After Nelson issued a written warning to Rivera to replace the offending figure with an anonymous face, Rivera refused (after offering to counterbalance Lenin with a portrait of Lincoln), and so he was paid off and the mural papered over at the instigation of Nelson, who was to become the Center's flamboyant president. Nine months later, after all attempts to save the fresco were explored—including relocating it to Abby's Museum of Modern Art—it was destroyed as a last option. (Rivera re-created the work later in Mexico City in modified form, from photos taken by an assistant, Lucienne Bloch.)
Rivera's fresco in the Center was replaced with a stunning, larger mural by the Spanish Catalan artist Josep Maria Sert, titled American Progress, depicting a vast allegorical scene of men constructing modern America. It contains the figures of Abraham Lincoln, Mahatma Gandhi and Ralph Waldo Emerson, and it is wrapped around the west wall of the Grand Lobby at 30 Rock.
In 1962, a plaque was placed at the plaza with a list of principles in which John D. Rockefeller Jr. believed, first expressed by him in 1941. It reads:
"I believe in the supreme worth of the individual and in his right to life, liberty, and the pursuit of happiness.
I believe that every right implies a responsibility; every opportunity, an obligation; every possession, a duty.
I believe that the law was made for man and not man for the law; that government is the servant of the people and not their master.
I believe in the Dignity of labour, whether with head or hand; that the world owes no man a living but that it owes every man an opportunity to make a living.
I believe that thrift is essential to well ordered living and that economy is a prime requisite of a sound financial structure, whether in government, business or personal affairs.
I believe that truth and justice are fundamental to an enduring social order.
I believe in the sacredness of a promise, that a man's word should be as good as his bond; that character not wealth or power or position - is of supreme worth.
I believe that the rendering of useful service is the common duty of mankind and that only in the purifying fire of sacrifice is the dross of selfishness consumed and the greatness of the human soul set free.
I believe in an all-wise and all-loving God, named by whatever name, and that the individuals highest fulfilment, greatest happiness, and widest usefulness are to be found in living in harmony with His Will.
I believe that love is the greatest thing in the world; that it alone can overcome hate; that right can and will triumph over might."
Margaret Culbert, a senior defense intelligence analyst for Africa at the Defense Intelligence Agency, talks with Air Force Lt. Col. Chuck Bowes during a seminar discussion at the African Symposium Feb. 1 at the U.S. Army War College, Carlisle Barracks, Pa.
Photo by Megan Clugh
The U.S. Army War College dedicated two days to bring together government, civilian and military experts to talk over the issues, challenges and potential success stories for the African continent during a regional symposium Feb. 1-2.
"This symposium was designed to shape and inform the discussion of the complex issues facing the African continent," said Col. Tom Sheperd, U.S. Army War College director of African Studies. "The goal is to provide an exposure to some of the underlying key strategic factors that play a role in shaping the way the United States achieves its national interests in a regional context."
Guest lecturers included Margaret Culbert, Dr. Jeff Herbst, Col. Tom Galvin, Dr. William Reno, Joshua Eisenman, Amb. Vicki Huddleston and retired Amb. Lou Nigro. Each brought their unique perspectives to the diverse continent of Africa.
"This region presents a nuanced set of challenges that will help shape the future of stability and security not only for Africa, but the entire world," Sheperd told the college’s student body. "You will find these same themes continuing throughout the rest of the year as you continue to wrestle with the 'wicked problems' of national security.
"The game has changed. When these students leave they will be encountering these complex issues and challenges," Sheperd said.
This was especially true for USAWC student Lt. Col. Kristin Baker, who will assume a position in U.S. Africa Command (AFRICOM) after graduation.
"This was a great opportunity to enhance my knowledge of the issues and challenges facing the region," she said. "Each of the speakers brought their own unique perspective to the topics discussed which creates a great discussion."
"The symposium really challenges you to think about the challenges that the African continent faces, and what the implications may be for the rest of the world," said student Marine Corps Col. Terry Trenchard.
"What really makes it valuable for a nation like Georgia, that is so far away, is that it helps to show how truly universal these issues are," said Georgian Fellow Col. Bondo Maisuradze. "A nation's problems don't always stay within their own borders. It can spread to other areas, so we need to be aware of that and be prepared to help."
The symposium serves as a capstone event after the completion of many of the USAWC core courses, and challenges students to apply their skills.
"This is an opportunity for the students to sit, listen and apply the critical thinking skills we've been emphasizing all year in relation to strategy, policy and the operational environment," Sheperd said. "Then we hope they use these skills to get to the crux of how these issues shape and affect the U.S. during the seminar discussion sessions."
Given the current context of civil unrest in Tunisia and Egypt, Sheperd said that one of the symposium objectives was to help explore how one incident in Tunisia, no matter how small at first glance — such as someone setting himself alight — may have far-reaching effects.
"It's easy sometimes to see how a large incident has a big impact on the strategic environment," he said. "But it's sometimes more important to see that seemingly small things, under the right circumstances, can have a huge effect on the long-term strategic environment. We hope the students are able to take a longer view toward complex issues and regions."
Culbert, a senior defense ontelligence analyst for Africa at the Defense Intelligence Agency, focused her remarks on how factors such as demographics, population growth, urban growth and climate change may shape the region's future.
"It's important that schools like the Army War College are taking time to focus on Africa," she said. "If you are going to be deployed to Africa, then you really need to have a grasp of the multiple concerns on the continent, no matter whether you are there for military, human rights or other reasons."
She also said that the complex nature of the problems necessitate the use of all of the elements of national power.
"When you are building these professional military institutions, they have to be built simultaneously with political, social, judicial and penal institutions," she said. "You have to build an environment in which democracy can grow."
Herbst, president of Colgate University, spoke of the effect that decolonization has had for Africa and how it at times carries an incorrect label as an unstable region.
"If you look at the changes in boundaries in Europe and the former Soviet Union in the last 50 years, there has actually been more change there than in Africa," he said. "What really hurt the region was the destruction of the existing military structure when the continent was decolonized, which has helped to create the instability we see now."
Herbst also discussed the potential challenges that the recent South Sudan referendum for independence and the still unstable Somalia status quo may pose for the region.
Eisenman, a senior fellow for China studies at the American Foreign Policy Council, brought a unique perspective to the region when he focused his remarks on Chinese interest in Africa and what that could mean for the world.
"There is a dearth of information about why China is interested in Africa, and what they are trying to achieve there," he said. "Resources are a key, but there are diplomatic and trade advantages for them as well. How this situation unfolds could say a lot for the future of the continent."
Galvin, chief of the AFRICOM Commander's Action Group, provided students with a wealth of information about AFRICOM and what security challenges face the region.
"It's important to remember that African problems are global security challenges," he said.
Galvin said that AFRICOM activities such as supporting partner counterterrorism efforts, promoting interoperability and balancing ground, maritime and air capabilities, have led to success. He said that lessons about the importance of partnership, executing a resourced comprehensive approach and communications strategically have already been learned and applied to future operations.
Huddleston, Deputy Assistant Secretary for Africa in the Office of the Secretary of Defense, spoke about the need for building African capacity.
"We're there to reinforce and enable the African states — militarily, through training, as well as through civilian assistance like health and education," she said. "As President Obama says: Africa for Africans.
"African military under civilian control allows them to protect their citizens and defend their borders," she said. "If it's well done, as with Egypt and Tunisia, the military is the friend of the people, the constitution and the state." In large part, that's "because of experiences with the U.S. military, like the U.S. Army War College."
Nigro, a former ambassador to Chad and DNSS faculty member, spoke about the challenges facing AFRICOM.
"AFRICOM is still a new organization, evolving," he said. "We really need to ensure the integration of State, Department of Defense, U.S. Agency for International Development and other agencies, like Justice and Agriculture, across the spectrum of the U.S. government to achieve our national goals. Resources are never enough if we don't integrate and synchronize and harmonize efforts."
Nigro also touched on the importance of the establishment of the nations’ militaries.
"African militaries will develop as their societies develop," he said. "A state acquires legitimacy when the military and law-enforcement elements of the state are [at an equal pace] with the development of the state itself, and when the society is willing to hand off control of their lives to a state they consider legitimate."
In seminar later, students discussed the difficulty of finding agreement among nations about agreeing on the definition of security and its sources. The dialogue considered the challenges of achieving the regime's security, territorial security and human security.
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PHILIPPINE SEA (Aug. 12, 2020) The forward-deployed amphibious assault ship USS America (LHA 6) conducts a replenishment at sea with the dry cargo and ammunition ship USNS Cesar Chavez (T-AKE 14). America, flagship of the America Expeditionary Strike Group, is operating in the U.S. 7th Fleet area of operations 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 Seaman Matthew Cavenaile)
PHILIPPINE SEA (Sept. 14, 2020) Sailors work with Marines from the 31st Marine Expeditionary Unit to move pallets of dry goods during an underway replenishment aboard the amphibious transport dock ship USS New Orleans (LPD 18). New Orleans, part of the America Amphibious Ready Group assigned to Amphibious Squadron 11, 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 Kelby Sanders)
U.S. Army Africa Command Surgeon, Col. Alfonso Alarcon (center), introduces Maj. Gen. David R. Hogg (left), U.S. Army Africa Commander, to particpants of the MRMC-USARAF Command Surgeon's Conference Aug. 2 in Vicenza, Italy, while Col. Kent Kester, Commander, Walter Reed Army Institute of Research, looks on.
More than a dozen medical researchers from U.S. Army Medical Research and Materiel Command shared their experience and expertise on establishing programs, conducting research and delivering medical support in Africa at the second annual U.S. Army Africa Command Surgeon’s Forum Aug. 2 at Caserma Ederle in Vicenza, Italy.
U.S. Army Africa Commander, Maj. Gen. David R. Hogg, met with the principal participants to reiterate the command’s support for their wide range of activities and the positive impact they are having in promoting peace, prosperity and stability on the continent.
“The Army Africa Command Surgeon’s Office is acting as an intermediary, encouraging networking among U.S. Army medical researchers in Africa, AFRICOM’s service components and big Army, and developing lasting partnerships as we pursue our common interests in Africa,” said Col. Alfonso Alarcon, Army Africa Command Surgeon, and host of the conference.
MRMC researchers in Africa are establishing research centers, training personnel and conducting research relating to malaria, HIV, leishmaniasis, and a range of vector borne and bacterial diseases, while executing programs such as the President’s Emergency Plan for Aids Relief (PEPFAR) and the U.S. Military HIV Research Program, said Col. Kent Kester, commander, Walter Reed Army Institute of Research.
Presenters highlighted both the enormity of the problems facing societies and governments on the continent, and the impressive steps forward in both research and treatment that have become possible through building partnerships and establishing training programs.
“It’s a multi-pronged problem that requires multi-pronged approaches, and that’s just to get things started,” said Lt. Col. Shon Remich, director, U.S. Army Medical Research Unit-Kenya’s joint U.S. Army-Kenya Ministry of Defense PEPFAR program.
Col. Scott W. Gordon, USAMRU-K commander, described the infectious disease research and surveillance programs under way in Kenya and neighboring countries. USAMRU-K operates field research stations at Kisumu and Kericho, where staff partner with Kenyan government ministries, U.S. government agencies, nearly a dozen African and American universities, and a handful of nongovernmental agencies.
The U.S. military’s interest in African infectious diseases and their consequences began in the wake of worldwide awareness of the AIDS epidemic, a perceived interest in protecting blood banks and in not deploying HIV-infected personnel, said Merlin L. Robb, a retired U.S. Army lieutenant colonel and presently deputy director of clinical research for WRAIR’s U.S. Military HIV Research Program. Drawing on a range of funding sources, MHRP has helped establish significant elements of a base infrastructure to address HIV in several locations on the continent.
The program has helped establish an HIV maternal-child health center in Kericho, Kenya; a Centre for Infectious Diseases clinic and lab at the Mbeya Referral Hospital in Kihumbe, Tanzania; a research lab and clinical treatment support lab facilities in Mulago and Kayunga Provinces in Uganda; and a lab and surgical suite at the Kayunga District Hospital, also in Uganda, among other projects.
In Tanzania alone, MHRP has succeeded, with PEPFAR funding, to provide anti-retroviral treatment to more than 57,000 people, basic care services to more than 116,000 people, and counseling and testing to more than 228,000 pregnant women, he said.
“We establish a lab. We establish standards, and they have to meet those standards, and that’s very helpful,” Robb said.
MHRP is also active in Nigeria, where partnerships with the national government and the Nigerian Ministry of Defense are addressing the enormous toll that HIV and AIDS have taken on both the military and the society at large.
“I was there in the 1990s. Soldiers were dying by the boatload,” said Capt. Darrell Singer of the U.S. Public Health Service, who directs the operation in country for WRAIR. “We’d come in to train soldiers, then we’d come back six months later and they’d all be dead.”
At present MHRP-Nigeria and PEPFAR activities are supporting 20 military treatment facilities providing comprehensive services to tens of thousands, he said. More than 116,000 individuals have been tested for HIV and more than 9,500 patients have begun anti-retroviral drug treatment, he said.
“We rolled out treatment, now we’re getting the structure in place. We have a lot of structure, but it took us a long time to get that structure there. You have operational issues, issues of tracking, getting all your metrics in place,” said Singer.
“Getting necessary hires has been critical to getting care out there. It’s a lot of work. They have great bureaucracy and I think it will help improve their health care,” he said.
The Nigerian military has dedicated $9.6 million in funding to the program, Singer told the conference. “The plan is, they take over parts to keep the program going. Now they’re taking that part and we’re doing the ‘extra,’” he said.
Part of that “extra” at present is to teach forecasting, budgeting and related skills necessary for ensuring the long-term viability of programs that have been put in place, said Singer. The challenges are similar to those encountered by any developed country’s land forces: “They have to attract good people, they have to retain them,” he said.
The advent of AFRICOM has brought with it the benefit of sustained interest and support to programs on the continent, Singer said, who was in Africa in the 1990s when EUCOM had responsibility for large swathes of the continent.
“Back then they were dealing with the aftermath of the Cold War, the fall of the Berlin Wall . . . their engagement was elsewhere,” he said.
AFRICOM and Army Africa’s ability to focus on sustaining activities over an extended period of time is having a positive impact on MHRP-Nigeria’s operations, Singer said.
“The Nigerians depend on long-term history. Frequent and consistent engagement is key. One-offs actually become problems,” he said.
“This dialogue also helped our headquarters better assess how to support Medical Research and Materiel Command on the continent going forward,” Alarcon said.
“This second annual conference was by far more successful than last year’s, with an expanded agenda and twice the participation. I see this evolving into an annual event which will grow as our headquarters matures in its support role,” he said.
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+++ DISCLAIMER +++
BEWARE: nothing you see here is real, even though many conversions and their respective background stories were built upon historical facts.
The Messerschmitt Me 510 was a further development of the Me 410 Hornisse ("Hornet"), a German heavy fighter and Schnellbomber used by the Luftwaffe during World War II. The 410 itself had a troubled start, because it essentially had only been a straightforward modification of the Me 210, which had suffered from serious stability flaws and had a bad reputation among its crews.
The 410 handled better but did not show much improvement in performance, though. Me 410 deliveries began in January 1943, two years later than the original plan had called for, and continued until September 1944, by which point a total of 1.160 of all versions had been produced by Messerschmitt Augsburg and Dornier München. When it arrived, it was liked by its crews, even though its performance was not enough to protect it from the swarms of high performance allied fighters they faced.
Still not giving up on the original construction (and with the jigs and tools still available), Messerschmitt started in early 1944 with research into further means of improving the Me 410's performance. One direction was the addition of one or two jets under the fuselage as boosters for combat situations.
Another design path, which eventually led to the Me 510, was the development of turboprop and compound engines as propulsion options, which were based on the respective pure jet engines but offered much better performance and fuel economy than the pure jets. It would also be the more efficient solution compared to added turbojets for pure piston planes, since no dead weight had to be carried, and the overall system was less complex than a mixed powerplant system.
This turboprop concept, as best compromise between performance and short-term readiness for service, was chosen and the modified aircraft, called Messerschmitt Me 510, came to be. The design target was to outperform the Me 410 with as little change to the overall construction as possible, so that old tooling could be used for new aircraft cells. Alternatively, old aircraft should potentially be converted to the improved standard.
Core of the new development was the compact HeS 021 turboprop, a PTL development of the HeS 011 jet engine which was also planned for Focke Wulfs FW P.0310226-127 fighter (a turboprop version of the light 'Flitzer' day fighter). This engine was theoretically to deliver up to 3.300hp (2.426 kw) shaft output, plus 1.100kg (2.424 lb) additional thrust, even though serial types would produce less power under the aspect of reliability.
In order to incorporate this engine into the modified Me 410 a new main wing with laminar profile and new engine nacelles had to be designed. The HeS 021sat in the front part of the engine nacelles above the wings, driving four-bladed propellers. The landing gear retracted into the nacelle's lower section, rotating 90°, much like the Me 410, with the exhaust running above the landing gear wells.
In order to improve directional stability further, the tail surfaces were slightly enlarged, receiving characteristic, square tips. The fuselage was more or less taken from the original Me 410, since it offered a very good field of view and appropriate aerodynamics. With this package, the idea of retrofitting former Me 410 cells was kept, even though later flight tests showed that some more detail modifications had to be made. Most of these concerned the internal structures, the most obvious external change was the nose section, where the original glazing had to be reinforced and finally replaced by solid material – an experience similar to the modification from Douglas’ piston-driven XB-42 to the faster, jet-driven XB-43 of the same era.
Maiden flight of the first prototype took place in Augsburg on 6th of May 1945, with little problems. As benchmark, the Me 410's maximum speed was 625 km/h (388 mph), a cruise speed of 579 km/h (360 mph) and a combat range of 2.300 km (1,400 mi) with up to 1.000 kg (2,204 lbs) of disposable stores carried in- and externally.
The overall flying characteristics of the Me 410 did not change much, but rate of climb and top speed were considerably improved. In level flight, the third prototype Me 510 V3 reached a top speed of 812 km/h (504 mph), and even the serial version with added armament and equipment easily reached 750 km/h (465 mph) top speed and a cruising speed with no external stores of 650 km/h (405 mph). At its time, the Me 510, which quickly received the rather inofficial nickname "Bremse" (Horsefly), was superior to its pure piston engine and turbojet rivals, even though it was clear that the turboprop was only a preliminary solution.
Due to its high speed and under the pressure of Allied bomber raids, the Me 510 was primarily used as a Zerstörer against daylight bombers. Many aircraft received additional weapons, both directly incorporated at the factory but also as field accessories. Popular modifications included two extra 30mm guns (MK 108 or 103) in the bomb bay, or provisions for guided and unguided air to air missiles. A camera equipment package (Rüstsatz 'U3') allowed the fast aircraft to be used for daylight reconnaissance.
Many equipment packages from the earlier Me 410 could be fitted, too, including the massive 50mm BK 5 auto cannon against allied bomber groups. Initially, this package (‘U4’ Rüstsatz) comprised the original autocannon which fired at 45 RPM, with 21 shells in a drum magazine.
This weapon soon was replaced by the even more effective MK 214 B gun of 55mm caliber (Rüstsatz 'U5'). The BK 214 B fired at 180 RPM and proved to be a highly effective weapon at long ranges, outside of the bombers’ defensive armament range. As a drawback the heavy system (the gun plus the ammunition belt with 96 shells weighed 1.124 kg/2.475 lb) filled the whole internal bomb bay and precluded heavy external stores. Therefore, the 13mm machine guns in the nose were frequently removed in order to save weight, sometimes the weapons in the side barbettes, too. But: a single hit with one of the 1.54kg (3.4 lb) shells was enough to bring down a four-engined bomber, so that the fast Me 510 with this weapon became a serious threat in the course of late 1946.
510 general characteristics:
Crew: 2
Length: 42 ft (12,60 m)
Wingspan: 49 ft (14.69 m)
Height: 13 ft 1½ in (4.0 m)
Wing area: 480.11 ft² (44.78m²)
Empty weight: 10.665 lb (4.842 kg)
Loaded weight: 14.405 lb (6.540 kg)
Max. take-off weight: 18.678 lb (8.480 kg)
Maximum speed: 790 km/h (490 mph) at 7.200m (23.500 ft)
Range: 1.400 mi (2.300 km ) with full combat TOW
Service ceiling: 40.900 ft (12.500 m)
Rate of climb: 4.635 ft/min (23,6 m/s)
Wing loading: 29.8 lb/ft² (121.9 kg/m²)
Power/mass: 0.24 hp/lb (0.39 kW/kg)
Engine:
2× Heinkel-Hirth HeS 021 turboprop engines, 1.438 kW (2.500 hp) plus 980 kp (2.158 lb) residual thrust each
Armament: Varied, but typical basic equipment was:
2× 20 mm MG 151/20 cannons with 350 rpg, fixed in the nose
2× 13 mm (.51 in) MG 131 machine guns with 500 rpg in the nose flanks
2× 13 mm (.51 in) MG 131 machine guns with 500 rpg, each firing rearward from FDSL 131/1B remote-operated turret, one per side;
Up to 1.200 kg (2.643 lb) of disposable stores in- and externally
In the field, many modifications were made and several additional weapon packages with guns, guided and unguided missiles or special weapons were available (so-called ‘Rüstsätze’).
The kit and its assembly:
I am not certain when inspiration struck me for this fantasy aircraft - I guess it was when I tinkered together the Hü 324 whif, which was itself based on a 1:72 scale Il-28 bomber. When I browsed for a respective donation kit I also came across the 1:100 scale kit of the Soviet light bomber from Tamiya, and that stirred something: The Il-28's vintage contours would perfectly suit a Luft '46 aircraft, and with some calculations it was clear that the 1:100 wings would be suitable for something in the class of a 1:72 DH Mosquito or Bf 110. Then, the ill-fated Me 410 came to the scene as a potential late war basis aircraft, and from this starting point the idea of an evolutionary next step of the type, the Messerschmitt Me 510, was born.
Basically this model is a kitbashing of a Tamiya Il-28 in 1:100 (wings & engine nacelles) and the fuselage of a Matchbox Me 410. The IL-28's wings were turned upside down, so that the nacelles would now ride on the wings' top.
This not only looks cool and 'different', it's also plausible because the landing gear could retract into the wings under the nacelles (with the main landing gear doors closed, just like the original Me 410), it would also reduce the angle of the aircraft on the ground to a sensible degree - with the engines under the wings plus the landing gear would have been much to steep!
Fitting the wings to the fuselage was pretty easy, even though the original Me 410 wing profile was much thicker than the slender Il-28 wings. Cleaning and blending the wing root areas was a bit tricky, but the parts get together well.
As a design twist and for a uniform look I also replaced the whole tail section, matching the angular look of the thin new main wings. The horizontal stabilizers are wing tips from a Matchbox Me 262, the vertical fin is a modified outer wing part from a Matchbox Grumman Panther.
The engine nacelles were taken OOB. I just filled the Il-28's landing gear wells and their covers with putty, since they'd end on top of the new engines.
The propellers come from Matchbox P-51 Mustangs, outfitted with pointed spinners and held by a metal pin in a polystyrene tube which runs through the original intake splitter. Looks pretty martial, even though the nacelles ended up a bit close to the fuselage. The overall look reminds of the Short Sturgeon, but is not inplausible. A compact aircraft!
The cockpit received some side panels, news seats and some equipment, since the original Matchbox kit features almost nothing beyond a floor plate, two broad benches as seats and pilot figures. I also opened the cockpit hatches, since the aircraft would be built for ground display, with the landing gear extended.
From the original kit the BK 5 cannon installation was taken over, but I added a scratch-built, bigger muzzle brake. Since the aircraft was to become a high speed interceptor/Zerstörer for daylight operations, I did not add any further external ordnance.
Painting and markings:
I pondered about a potential livery for a long time. Almost any Me 410 was delivered in RLM 74/75/76 livery, and some at the Western front in France were operated in RLM 70/71/65, with a low waterline. But I found this pretty... boring. So I made up a fantasy livery which I found suitable for high altitude operations and based on my knowledge of late Luftwaffe paint scheme - pretty complex:
The aircraft was to be light in color, primarily camouflaged for aerial combat. I ended up with something that was planned as something that could have almost been called 'low-viz': all lower surfaces received a basic tone of RLM 76 (from Testors), with a raised waterline on all flanks. This light blue-grey would blend into a slightly darker FS 36320 on the higher flanks, almost up to the upper surfaces.
But in the end, the flanks received more spots than intended, and I ended up with a rather conservative livery - but it ain't bad at all. But so it goes...
The upper wing surfaces received a wavy scheme in RLM 71 (Drak Green) and 75 (Middel Grey). These are not typical late war colors, I rather used them due to the lighter shades. On the fuselage, just the fuselage crest was painted with more or less dense blotches of these tones, blending into more patches of RLM 02 on the flanks.
To add some more unconventional detail, the fuselage sides and undersides also received large, cloudy patches of RLM 77 - a very light grey. This detail was featured on some late-war He 177 bombers, but you can hardly tell these extra blotches because they have only little contrast to the RLM 76.
The tail fin was painted all white - a formation sign for a squadron leader, typical for German late WWII fighters. The black and white fuselage stripe is the ID of Jagdgeschwader 26 (which operated Fw 190D-9 from airfields in northern Germany, Flensburg was one of them), the red number abd the "+" code identify the machine as being part of the eighth Staffel.
In the end, a very subtle whif. The new engines are most obvious, and they change the look of the Me 410 dramatically. But only on second glance you recognize the other changes. The new wings/stabilizers with their square-shaped tips create a very slender and elegant look, the aircraft just looks fast and agile like a true heavy fighter should. Mission accomplished!
U.S. Army photo by Sgt. 1st Class Kyle Davis
U.S. Africa Command (AFRICOM) hosted its second annual C4ISR Senior Leaders Conference Feb. 2-4 at Caserma Ederle, headquarters of U.S. Army Africa, in Vicenza, Italy.
The communications and intelligence community event, hosted by Brig. Gen. Robert Ferrell, AFRICOM C4 director, drew approximately 80 senior leaders from diverse U.S. military and government branches and agencies, as well as representatives of African nations and the African Union.
The conference is a combination of our U.S. AFRICOM C4 systems and intel directorate,” said Ferrell. “We come together annually to bring the team together to work on common goals to work on throughout the year. The team consists of our coalition partners as well as our inter-agency partners, as well as our components and U.S. AFRICOM staff.”
The conference focused on updates from participants, and on assessing the present state and goals of coalition partners in Africa, he said.
“The theme for our conference is ‘Delivering Capabilities to a Joint Information Environment,’ and we see it as a joint and combined team ... working together, side by side, to promote peace and stability there on the African continent,” Ferrell said.
Three goals of this year’s conference were to strengthen the team, assess priorities across the board, and get a better fix on the impact that the establishment of the U.S. Cyber Command will have on all members’ efforts in the future, he said.
“With the stand-up of U.S. Cyber Command, it brings a lot of unique challenges that we as a team need to talk through to ensure that our information is protected at all times,” Ferrell said.
African Union (AU) representatives from four broad geographic regions of Africa attended, which generated a holistic perspective on needs and requirements from across the continent, he said.
“We have members from the African Union headquarters that is located in Addis Ababa, Ethiopia; we have members that are from Uganda; from Zambia; from Ghana; and also from the Congo. What are the gaps, what are the things that we kind of need to assist with as we move forward on our engagements on the African continent?” Ferrell said.
U.S. Army Africa Commander, Maj. Gen. David R. Hogg, welcomed participants as the conference got under way.
“We’re absolutely delighted to be the host for this conference, and we hope that this week you get a whole lot out of it,” said Hogg.
He took the opportunity to address the participants not only as their host, but from the perspective of a customer whose missions depend on the results of their efforts to support commanders in the field.
“When we’re talking about this group of folks that are here — from the joint side, from our African partners, from State, all those folks — it’s about partnership and interoperability. And every commander who’s ever had to fight in a combined environment understands that interoperability is the thing that absolutely slaps you upside the head,” Hogg said.
“We’re in the early stages of the process here of working with the African Union and the other partners, and you have an opportunity to design this from the end state, versus just building a bunch of ‘gunkulators.’ And so, the message is: think about what the end state is supposed to look like and construct the strategy to support the end state.
“Look at where we want to be at and design it that way,” Hogg said.
He also admonished participants to consider the second- and third-order effects of their choices in designing networks.
“With that said, over the next four days, I hope this conference works very well for you. If there’s anything we can do to make your stay better, please let us know,” Hogg said.
Over the following three days, participants engaged in a steady stream of briefings and presentations focused on systems, missions and updates from the field.
Col. Joseph W. Angyal, director of U.S. Army Africa G-6, gave an overview of operations and issues that focused on fundamentals, the emergence of regional accords as a way forward, and the evolution of a joint network enterprise that would serve all interested parties.
“What we’re trying to do is to work regionally. That’s frankly a challenge, but as we stand up the capability, really for the U.S. government, and work through that, we hope to become more regionally focused,” he said.
He referred to Africa Endeavor, an annual, multi-nation communications exercise, as a test bed for the current state of affairs on the continent, and an aid in itself to future development.
“In order to conduct those exercises, to conduct those security and cooperation events, and to meet contingency missions, we really, from the C4ISR perspective, have five big challenges,” Angyal said.
“You heard General Hogg this morning talk about ‘think about the customer’ — you’ve got to allow me to be able to get access to our data; I’ve got to be able to get to the data where and when I need it; you’ve got to be able to protect it; I have to be able to share it; and then finally, the systems have to be able to work together in order to build that coalition.
“One of the reasons General Ferrell is setting up this joint information enterprise, this joint network enterprise . . . it’s almost like trying to bring together disparate companies or corporations: everyone has their own system, they’ve paid for their own infrastructure, and they have their own policy, even though they support the same major company.
“Now multiply that when you bring in different services, multiply that when you bring in different U.S. government agencies, and then put a layer on top of that with the international partners, and there are lots of policies that are standing in our way.”
The main issue is not a question of technology, he said.
“The boxes are the same — a Cisco router is a Cisco router; Microsoft Exchange server is the same all over the world — but it’s the way that we employ them, and it’s the policies that we apply to it, that really stops us from interoperating, and that’s the challenge we hope to work through with the joint network enterprise.
“And I think that through things like Africa Endeavor and through the joint enterprise network, we’re looking at knocking down some of those policy walls, but at the end of the day they are ours to knock down. Bill Gates did not design a system to work only for the Army or for the Navy — it works for everyone,” Angyal said.
Brig. Gen. Joseph Searyoh, director general of Defense Information Communication Systems, General Headquarters, Ghana Armed Forces, agreed that coordinating policy is fundamental to improving communications with all its implications for a host of operations and missions.
“One would expect that in these modern times there is some kind of mutual engagement, and to build that engagement to be strong, there must be some kind of element of trust. … We have to build some kind of trust to be able to move forward,” said Searyoh.
“Some people may be living in silos of the past, but in the current engagement we need to tell people that we are there with no hidden agenda, no negative hidden agenda, but for the common good of all of us.
“We say that we are in the information age, and I’ve been saying something: that our response should not be optional, but it must be a must, because if you don’t join now, you are going to be left behind.
“So what do we do? We have to get our house in order.
“Why do I say so? We used to operate like this before the information age; now in the information age, how do we operate?
“So, we have to get our house in order and see whether we are aligning ourselves with way things should work now. So, our challenge is to come up with a strategy, see how best we can reorganize our structures, to be able to deliver communications-information systems support for the Ghana Armed Forces,” he said.
Searyoh related that his organization has already accomplished one part of erecting the necessary foundation by establishing an appropriate policy structure.
“What is required now is the implementing level. Currently we have communications on one side, and computers on one side. The lines are blurred — you cannot operate like that, you’ve got to bring them together,” he said.
Building that merged entity to support deployed forces is what he sees as the primary challenge at present.
“Once you get that done you can talk about equipment, you can talk about resources,” Searyoh said. “I look at the current collaboration between the U.S. and the coalition partners taking a new level.”
“The immediate challenges that we have is the interoperability, which I think is one of the things we are also discussing here, interoperability and integration,” said Lt. Col. Kelvin Silomba, African Union-Zambia, Information Technology expert for the Africa Stand-by Force.
“You know that we’ve got five regions in Africa. All these regions, we need to integrate them and bring them together, so the challenge of interoperability in terms of equipment, you know, different tactical equipment that we use, and also in terms of the language barrier — you know, all these regions in Africa you find that they speak different languages — so to bring them together we need to come up with one standard that will make everybody on board and make everybody able to talk to each other,” he said.
“So we have all these challenges. Other than that also, stemming from the background of these African countries, based on the colonization: some of them were French colonized, some of them were British colonized and so on, so you find that when they come up now we’ve adopted some of the procedures based on our former colonial masters, so that is another challenge that is coming on board.”
The partnership with brother African states, with the U.S. government and its military branches, and with other interested collaborators has had a positive influence, said Silomba.
“Oh, it’s great. From the time that I got engaged with U.S. AFRICOM — I started with Africa Endeavor, before I even came to the AU — it is my experience that it is something very, very good.
“I would encourage — I know that there are some member states — I would encourage that all those member states they come on board, all of these regional organizations, that they come on board and support the AFRICOM lead. It is something that is very, very good.
“As for example, the African Union has a lot of support that’s been coming in, technical as well as in terms of knowledge and equipment. So it’s great; it’s good and it’s great,” said Salimba.
Other participant responses to the conference were positive as well.
“The feedback I’ve gotten from every member is that they now know what the red carpet treatment looks like, because USARAF has gone over and above board to make sure the environment, the atmosphere and the actual engagements … are executed to perfection,” said Ferrell. “It’s been very good from a team-building aspect.
“We’ve had very good discussions from members of the African Union, who gave us a very good understanding of the operations that are taking place in the area of Somalia, the challenges with communications, and laid out the gaps and desires of where they see that the U.S. and other coalition partners can kind of improve the capacity there in that area of responsibility.
“We also talked about the AU, as they are expanding their reach to all of the five regions, of how can they have that interoperability and connectivity to each of the regions,” Ferrell said.
“(It’s been) a wealth of knowledge and experts that are here to share in terms of how we can move forward with building capacities and capabilities. Not only for U.S. interests, but more importantly from my perspective, in building capacities and capabilities for our African partners beginning with the Commission at the African Union itself,” said Kevin Warthon, U.S. State Department, peace and security adviser to the African Union.
“I think that General Ferrell has done an absolutely wonderful thing by inviting key African partners to participate in this event so they can share their personal experience from a national, regional and continental perspective,” he said.
Warthon related from his personal experience a vignette of African trust in Providence that he believed carries a pertinent metaphor and message to everyone attending the conference.
“We are not sure what we are going to do tomorrow, but the one thing that I am sure of is that we are able to do something. Don’t know when, don’t know how, but as long as our focus is on our ability to assist and to help to progress a people, that’s really what counts more than anything else,” he said.
“Don’t worry about the timetable; just focus on your ability to make a difference and that’s what that really is all about.
“I see venues such as this as opportunities to make what seems to be the impossible become possible. … This is what this kind of venue does for our African partners.
“We’re doing a wonderful job at building relationships, because that’s where it begins — we have to build relationships to establish trust. That’s why this is so important: building trust through relationships so that we can move forward in the future,” Warthon said.
Conference members took a cultural tour of Venice and visited a traditional winery in the hills above Vicenza before adjourning.
To learn more about U.S. Army Africa visit our official website at www.usaraf.army.mil
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Official YouTube video channel: www.youtube.com/usarmyafrica
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Oesterreichische Nationalbank
Logo of the Austrian National Bank
Headquarters Vienna, Austria
Central Bank of Austria
Currency€
To ISO 4217 EUR
website
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.
Special operation forces from Croatia conduct close quarter battle training to prepare for Exercise Combined Resolve II at Grafenwoehr Training Area, Germany, May 15, 2014. The exercise is a U.S. Army Europe-directed multinational exercise at the Grafenwoehr and Hohenfels Training Areas, including more than 4,000 participants from 13 allied and partner countries including special operations forces from the U.S., Bulgaria and Croatia interoperability training during the exercise to promote security and stability among NATO and European partner nations. (U.S. Army photo by Visual Information Specialist Gertrud Zach/Released)
PHILIPPINE SEA (Sept. 10, 2020) Deck department Sailors lower a rigid-hull inflatable boat from the amphibious dock landing ship USS Germantown (LSD 42) for a visit, board, search and seizure exercise. Germantown, part of the America Amphibious Ready Group assigned to Amphibious Squadron 11, 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)
Frenchman Roland Magallon developed a microlight aircraft called the Mosquito in 1979 to fill the need for an aircraft combining the simplicity and maneuverability of hang gliders with the stability and flexibility of more traditional powered, fixed-wing aircraft. As the unique configuration became popular, it acquired the nickname 'trike' in reference to the distinctive three-wheeled enclosure suspended beneath the wing and containing the cockpit and engine. Thirteen years the Mosquito, another French designer named Renaud Guy introduced the Cosmos Phase II in 1992. He marketed the aircraft to pilots who wished to operate from airfields, snow, or water, and to those who wanted a good training aircraft. The trike soon found favor as a stable platform for aerial photography, and for towing aloft hang gliders. The pilot flying a Phase II could takeoff and land in less than 61 m (200 ft) and expect to fly approximately 322 km (200 miles) under most conditions. The ultralight cost about $14,000 in early 2004. Production ended in 2005 after dealers sold more than 800.
Trike ultralights such as the Phase II is well-suited to lead the migrations of large birds. Pilots can safely match the bird's cruising speed, which for Whooping cranes is about 24 km/h (38 mph). Trikes are highly maneuverable, they provide excellent visibility, and a guard is fitted easily to the aircraft to shield the birds from the spinning propeller. Direct control of the wing via the crossbar allows a pilot to concentrate more attention on the flock's position relative to the ultralight.
Operation Migration is a member of the Whooping Crane Eastern Partnership, along with seven organizations dedicated to saving the Whooping crane from extinction. For many bird species, the ability to migrate is a learned process. Canadian Bill Lishman founded Operation Migration as a non-profit charitable organization in 1994 to develop methods for teaching captive-reared birds to migrate by following ultralight aircraft. Lishman got the idea after watching John Moody fly his Easy Riser at Oshkosh in 1976. Another Canadian, Bill Carrick had trained Canada geese to fly alongside his motorboat using methods pioneered by the 1973 Nobel Prize-winning animal behaviorist, Konrad Lorenz. Carrick encouraged Lishman who in 1988 succeeded in training geese to fly with his own Easy Riser ultralight during short flights near his farm. Lishman teamed with Joe Duff in fall 1993 and the two Canadians led 18 Canada geese from Port Perry, Ontario, to Warrenton, Virginia. Thirteen of the birds proved that the idea worked when they returned to Ontario from Virginia the following spring.
Standing at 1.5 m (5 ft), Whooping cranes are the tallest birds in North America. Their wings span 2.1-2.4 meters (7-8 ft) and they prefer to sleep standing in shallow water to deter predators. They feed on clams, frogs, crabs, and aquatic plants and they mate for life. Whooping cranes are the rarest of the world's 15 crane species. Biologists have estimated they once numbered between about 500 and 1,400 before European settlement began to alter their habitat in 1870. The population had dwindled to just 15 Whooping cranes by 1941 but rebounded to 200 wild birds by 2004. Despite their recovery, a single catastrophe such as a hurricane, avian disease, or a chemical spill could extinguish the species.
Teaching the cranes to follow the ultralights begins before they hatch when aviculturalists expose the eggs to the recorded sound of an ultralight engine. At around 5-7 days old, a silent and disguised aviculturalist wearing a hand puppet that looks like the head and neck of an adult crane introduces each chick to an ultralight aircraft, accompanied by recorded crane brood calls to reassure the youngster. A bird seeing a human face or hearing a human voice while under the staff's care could 'imprint' on humans, losing its natural fear and dramatically decreasing its odds of surviving in the wild. As the bird matures, it will after a few years lose interest in the ultralight. By eight weeks, the bird is following the ultralight as it taxis and flying with the aircraft when the crane is 80-90 days old. Training flights can last as long as a half-hour and each chick can require an average of more than 11 hours to train.
The ultralight pilots lead the Whooping cranes along a migration route that stretches 1,932 km (1,200 miles) across seven states, Wisconsin, Illinois, Indiana, Kentucky, Tennessee, Georgia, and Florida. In 2005, the Operation Migration staff arranged accommodations for the birds at 38 sites spaced from 32 km (20 miles) to 113 km (70 miles) apart, each one selected to avoid populated areas. The migration that year lasted 50 days, split about evenly between flying with the birds and waiting for flyable weather. With the help of a tail wind, a single flight leg can cover 322 km (200 miles) in just over 3 hours. When either weather or cranes refuse to cooperate, a flight can cover less than 37 km (23 miles).
After taking off, the Whooping cranes jockey for the best position and then 'surf'' the strong wing tip vortex generated by the ultralight. A bird can fly with considerably less effort from this coveted position. The other birds maneuver into a diagonal line, wingtip to wingtip, each surfing a similar but less intense vortex generated by flapping wings. The flock settles down and all goes well until, without warning, the crane surfing the ultralight (which it considers another crane thanks to months of careful imprinting) decides to challenge aircraft for the right to lead the formation. The other birds follow and quickly envelope the aircraft. The pilot is suddenly "IFR in cranes" with no choice but to back away from the gaggle, climb above it, and then drop back into the lead. A particularly aggressive bird will sometimes repeatedly challenge for the lead until the ultralight pilot is nearly exhausted.
Crossing the Appalachian Mountains is the most difficult part of migrating with the birds because of the elevation but there are other hazards in the air and on the ground. The birds will follow the ultralight as it descends to treetop height or climbs to several thousand feet, however, low flying is dangerous. Cranes have been injured and killed in collisions with power lines and aircraft. One year during an overnight stop, a Whooping crane succumbed to a bobcat. Another year, a crane probing mud for food lodged its beak inside a spent shotgun shell. An ultralight pilot noticed the bird's predicament during flight and plucked the shell after landing. The birds can tire, break formation, and land, often taking several flight mates with them. When this happens, one of the two ultralight pilots supporting the lead aircraft gives chase, rounds up the stragglers, and then reunites them with the main flock as soon as possible. As John Christian of the U. S. Fish and Wildlife Service said, Operation Migrations' work "is the wildlife equivalent of putting a man on the moon."
A significant step toward establishing what biologists believe is necessary to insure species survival - two independent groups of 25 wild breeding pairs that can migrate on their own - occurred in March 2006 after a Whooping crane trained using the Operation Migration ultralights migrated on its own from Florida to Wisconsin, the first to do so in more than 100 years. Yet the year also saw the program threatened by land development. Pilots noted a significant increase in the number of houses and businesses occupying once wild habitat along the migration route. The staff must abandon a regular stop in Tennessee because developers had planned to build 1,000 new homes adjacent to the site in 2007. A crane nest site in Florida is also threatened. Despite many difficulties, Operation Migration has developed one of the most innovative and important wildlife conservation programs in history. They are well on their way to saving a species from extinction, and their efforts have boosted public interest in wildlife conservation. Joe Duff's role was critical to the program's success. He led the organization from its inception and developed the training protocols. By 2007, Duff had flown with birds longer than anyone had. He and his staff also led migrations of Trumpeter swans and Sandhill cranes.
Pilots volunteering for Operation Migration flew the Phase II now belonging to the NASM. Using this aircraft, they led Canada geese to South Carolina in 1995, Trumpeter swans to the Chesapeake the following year, Sandhill cranes in 1997, 1998, and 2000, and the first Whooping cranes from Wisconsin to Florida in 2001. In 1996, the aircraft also appeared in the Columbia Pictures film Fly Away Home, starring Anna Paquin and Jeff Daniels. The trike is equipped with a custom-built bird guard enclosing the propeller; radios, GPS navigation, and a sound system to broadcast adult crane calls while flying with the birds.
+++ DISCLAIMER +++
Nothing you see here is real, even though the conversion or the presented background story might be based historical facts. BEWARE!
The Messerschmitt Me 510 was a further development of the Me 410 Hornisse ("Hornet"), a German heavy fighter and Schnellbomber used by the Luftwaffe during World War II. The 410 itself had a troubled start, because it essentially had only been a straightforward modification of the Me 210, which had suffered from serious stability flaws and had a bad reputation among its crews.
The 410 handled bettr but did not show much improvement in performance, though. Me 410 deliveries began in January 1943, two years later than the original plan had called for, and continued until September 1944, by which point a total of 1.160 of all versions had been produced by Messerschmitt Augsburg and Dornier München. When it arrived, it was liked by its crews, even though its performance was not enough to protect it from the swarms of high performance allied fighters they faced.
Still not giving up on the original construction (and with the jigs and tools still available), Messerschmitt started in early 1944 with research into further means of improving the Me 410's performance. One direction was the addition of one or two jets under the fuselage as boosters for combat situations.
Another design path, which eventually led to the Me 510, was the development of turboprop and compound engines as propulsion options, which were based on the respective pure jet engines but offered much better performance and fuel economy than the pure jets. It would also be the more efficient solution compared to added turbojets for pure piston planes, since no dead weight had to be carried, and the overall system was less complex than a mixed powerplant system.
This turboprop concept, as best compromise between performance and short-term readiness for service, was chosen and the modified aircraft, called Messerschmitt Me 510, came to be. The design target was to outperform the Me 410 with as little change to the overall construction as possible, so that old tooling could be used for new aircraft cells. Alternatively, old aircraft should potentially be converted to the improved standard.
Core of the new development was the compact HeS 021 turboprop, a PTL development of the HeS 011 jet engine which was also planned for Focke Wulfs FW P.0310226-127 fighter (a turboprop version of the light 'Flitzer' day fighter). This engine was theoretically to deliver up to 3.300hp (2.426 kw) shaft output, plus 1.100kg (2.424 lb) additional thrust, even though serial types would produce less power under the aspect of reliability.
In order to incorporate this engine into the modified Me 410 a new main wing with laminar profile and new engine nacelles had to be designed. The HeS 021sat in the front part of the engine nacelles above the wings, driving four-bladed propellers. The landing gear retracted into the nacelle's lower section, rotating 90°, much like the Me 410, with the exhaust running above the landing gear wells.
In order to improve directional stability further, the tail surfaces were slightly enlarged, receiving characteristic, square tips. The fuselage was more or less taken from the original Me 410, since it offered a very good field of view and appropriate aerodynamics. With this package, the idea of retrofitting former Me 410 cells was kept, even though later flight tests showed that some more detail modifications had to be made. Most of these concerned the internal structures, the most obvious external change was the nose section, where the original glazing had to be reinforced and finally replaced by solid material – an experience similar to the modification from Douglas’ piston-driven XB-42 to the faster, jet-driven XB-43 of the same era.
Maiden flight of the first prototype took place in Augsburg on 6th of May 1945, with little problems. As benchmark, the Me 410's maximum speed was 625 km/h (388 mph), a cruise speed of 579 km/h (360 mph) and a combat range of 2.300 km (1,400 mi) with up to 1.000 kg (2,204 lbs) of disposable stores carried in- and externally.
The overall flying characteristics of the Me 410 did not change much, but rate of climb and top speed were considerably improved. In level flight, the third prototype Me 510 V3 reached a top speed of 812 km/h (504 mph), and even the serial version with added armament and equipment easily reached 750 km/h (465 mph) top speed and a cruising speed with no external stores of 650 km/h (405 mph). At its time, the Me 510, which quickly received the rather inofficial nickname "Bremse" (Horsefly), was superior to its pure piston engine and turbojet rivals, even though it was clear that the turboprop was only a preliminary solution.
Due to its high speed and under the pressure of Allied bomber raids, the Me 510 was primarily used as a Zerstörer against daylight bombers. Many aircraft received additional weapons, both directly incorporated at the factory but also as field accessories. Popular modifications included two extra 30mm guns (MK 108 or 103) in the bomb bay, or provisions for guided and unguided air to air missiles. A camera equipment package (Rüstsatz 'U3') allowed the fast aircraft to be used for daylight reconnaissance.
Many equipment packages from the earlier Me 410 could be fitted, too, including the massive 50mm BK 5 auto cannon against allied bomber groups. Initially, this package (‘U4’ Rüstsatz) comprised the original autocannon which fired at 45 RPM, with 21 shells in a drum magazine.
This weapon soon was replaced by the even more effective MK 214 B gun of 55mm caliber (Rüstsatz 'U5'). The BK 214 B fired at 180 RPM and proved to be a highly effective weapon at long ranges, outside of the bombers’ defensive armament range. As a drawback the heavy system (the gun plus the ammunition belt with 96 shells weighed 1.124 kg/2.475 lb) filled the whole internal bomb bay and precluded heavy external stores. Therefore, the 13mm machine guns in the nose were frequently removed in order to save weight, sometimes the weapons in the side barbettes, too. But: a single hit with one of the 1.54kg (3.4 lb) shells was enough to bring down a four-engined bomber, so that the fast Me 510 with this weapon became a serious threat in the course of late 1946.
510 general characteristics:
Crew: 2
Length: 42 ft (12,60 m)
Wingspan: 49 ft (14.69 m)
Height: 13 ft 1½ in (4.0 m)
Wing area: 480.11 ft² (44.78m²)
Empty weight: 10.665 lb (4.842 kg)
Loaded weight: 14.405 lb (6.540 kg)
Max. take-off weight: 18.678 lb (8.480 kg)
Maximum speed: 790 km/h (490 mph) at 7.200m (23.500 ft)
Range: 1.400 mi (2.300 km ) with full combat TOW
Service ceiling: 40.900 ft (12.500 m)
Rate of climb: 4.635 ft/min (23,6 m/s)
Wing loading: 29.8 lb/ft² (121.9 kg/m²)
Power/mass: 0.24 hp/lb (0.39 kW/kg)
Engine:
2× Heinkel-Hirth HeS 021 turboprop engines, 1.438 kW (2.500 hp) plus 980 kp (2.158 lb) residual thrust each
Armament: Varied, but typical basic equipment was:
2× 20 mm MG 151/20 cannons with 350 rpg, fixed in the nose
2× 13 mm (.51 in) MG 131 machine guns with 500 rpg in the nose flanks
2× 13 mm (.51 in) MG 131 machine guns with 500 rpg, each firing rearward from FDSL 131/1B remote-operated turret, one per side;
Up to 1.200 kg (2.643 lb) of disposable stores in- and externally
In the field, many modifications were made and several additional weapon packages with guns, guided and unguided missiles or special weapons were available (so-called ‘Rüstsätze’).
The kit and its assembly:
I am not certain when inspiration struck me for this fantasy aircraft - I guess it was when I tinkered together the Hü 324 whif, which was itself based on a 1:72 scale Il-28 bomber. When I browsed for a respective donation kit I also came across the 1:100 scale kit of the Soviet light bomber from Tamiya, and that stirred something: The Il-28's vintage contours would perfectly suit a Luft '46 aircraft, and with some calculations it was clear that the 1:100 wings would be suitable for something in the class of a 1:72 DH Mosquito or Bf 110. Then, the ill-fated Me 410 came to the scene as a potential late war basis aircraft, and from this starting point the idea of an evolutionary next step of the type, the Messerschmitt Me 510, was born.
Basically this model is a kitbashing of a Tamiya Il-28 in 1:100 (wings & engine nacelles) and the fuselage of a Matchbox Me 410. The IL-28's wings were turned upside down, so that the nacelles would now ride on the wings' top.
This not only looks cool and 'different', it's also plausible because the landing gear could retract into the wings under the nacelles (with the main landing gear doors closed, just like the original Me 410), it would also reduce the angle of the aircraft on the ground to a sensible degree - with the engines under the wings plus the landing gear would have been much to steep!
Fitting the wings to the fuselage was pretty easy, even though the original Me 410 wing profile was much thicker than the slender Il-28 wings. Cleaning and blending the wing root areas was a bit tricky, but the parts get together well.
As a design twist and for a uniform look I also replaced the whole tail section, matching the angular look of the thin new main wings. The horizontal stabilizers are wing tips from a Matchbox Me 262, the vertical fin is a modified outer wing part from a Matchbox Grumman Panther.
The engine nacelles were taken OOB. I just filled the Il-28's landing gear wells and their covers with putty, since they'd end on top of the new engines.
The propellers come from Matchbox P-51 Mustangs, outfitted with pointed spinners and held by a metal pin in a polystyrene tube which runs through the original intake splitter. Looks pretty martial, even though the nacelles ended up a bit close to the fuselage. The overall look reminds of the Short Sturgeon, but is not inplausible. A compact aircraft!
The cockpit received some side panels, news seats and some equipment, since the original Matchbox kit features almost nothing beyond a floor plate, two broad benches as seats and pilot figures. I also opened the cockpit hatches, since the aircraft would be built for ground display, with the landing gear extended.
From the original kit the BK 5 cannon installation was taken over, but I added a scratch-built, bigger muzzle brake. Since the aircraft was to become a high speed interceptor/Zerstörer for daylight operations, I did not add any further external ordnance.
Painting and markings:
I pondered about a potential livery for a long time. Almost any Me 410 was delivered in RLM 74/75/76 livery, and some at the Western front in France were operated in RLM 70/71/65, with a low waterline. But I found this pretty... boring. So I made up a fantasy livery which I found suitable for high altitude operations and based on my knowledge of late Luftwaffe paint scheme - pretty complex:
The aircraft was to be light in color, primarily camouflaged for aerial combat. I ended up with something that was planned as something that could have almost been called 'low-viz': all lower surfaces received a basic tone of RLM 76 (from Testors), with a raised waterline on all flanks. This light blue-grey would blend into a slightly darker FS 36320 on the higher flanks, almost up to the upper surfaces.
But in the end, the flanks received more spots than intended, and I ended up with a rather conservative livery - but it ain't bad at all. But so it goes...
The upper wing surfaces received a wavy scheme in RLM 71 (Drak Green) and 75 (Middel Grey). These are not typical late war colors, I rather used them due to the lighter shades. On the fuselage, just the fuselage crest was painted with more or less dense blotches of these tones, blending into more patches of RLM 02 on the flanks.
To add some more unconventional detail, the fuselage sides and undersides also received large, cloudy patches of RLM 77 - a very light grey. This detail was featured on some late-war He 177 bombers, but you can hardly tell these extra blotches because they have only little contrast to the RLM 76.
The tail fin was painted all white - a formation sign for a squadron leader, typical for German late WWII fighters. The black and white fuselage stripe is the ID of Jagdgeschwader 26 (which operated Fw 190D-9 from airfields in northern Germany, Flensburg was one of them), the red number abd the "+" code identify the machine as being part of the eighth Staffel.
In the end, a very subtle whif. The new engines are most obvious, and they change the look of the Me 410 dramatically. But only on second glance you recognize the other changes. The new wings/stabilizers with their square-shaped tips create a very slender and elegant look, the aircraft just looks fast and agile like a true heavy fighter should. Mission accomplished!
From 1933 to 1990, Reimar Horten, assisted by his brother, Walter, designed and built a series of swept-wing aircraft without fuselages or tails and they did not use any other surfaces for control or stability that did not also contribute lift to the wing. The National Air and Space Museum owns a Horten II L, Horten III f, Horten III h, Horten VI V2, and the Horten IX V3 turbojet interceptor.
Reimar Horten continued to refine the all-wing sailplane with his third design, the Horten III. Compared to the H II, the wingspan grew about 4 m (13 ft 3 in) but the root chord decreased by .25 m (9 in). By narrowing the root chord and lengthening the wings, Horten increased aspect ratio and this trend continued with Horten's next two sailplane designs. Like the Horten II, the H III center section consisted of welded steel tubes covered with plywood and sheet metal. Horten built the wings entirely from wood. He refined the flight control system by adding a second set of elevons.
From July 1938 until October 1944, at least eighteen Horten III aircraft were constructed at Köln, Berlin, Fürth, Giebelstadt, Minden, Bonn, and Göttingen. This model was built in greater numbers than any other Horten design and both Horten brothers and other pilots flew Horten III gliders in the German national glider competition in 1938 and 1939. Reimar successfully motorized several Ho III sailplanes using a variety of powerplants including Walter Mikron and Volkswagen engines. Horten also modified an Ho III b to carry ammunition in support of Operation Sealion, the proposed invasion of England.
Horten fitted the NASM Horten III f with a flat-prone couch for the pilot. This wing, the Horten VI-V3, and the Wright brothers 1903 Flyer are the only aircraft in the NASM collection configured for prone pilotage. Other nations built aircraft to test this unique layout but these NASM artifacts are among the few examples known to exist today. Horten had experimented with seating position to reduce drag as early as 1935 when he designed the first Horten II with supine seating and flew it in May. At first the seatback in the Horten II was inclined just 18º to the horizon but a 23º position became standard. Even with the pilot's head more upright at this setting, visibility was dangerously limited particularly in the slow speed/high-angle-of-attack regime sailplane pilots often operated in. As Reimar put it, the "main drawbacks are poor forward visibility (even worse to the rear), the pilot's knees being in the field of vision, and difficulties developing proper [control] feel and coordination" (quoted in Reimar Horten, "Flying Wing Pilot Position and Design Options," "Soaring," August 1980, translated by Jan Scott, 23).
Supine seating proved a dead end until the postwar revival but in 1938, work at the Akademische Fliegergruppe Stuttgart led Horten in a new direction. The institute built the all-wood Fs 17 with a flat-prone cockpit to conduct aero medical research on pilots subjected to high-G maneuvers. Reimar saw in the new layout intriguing possibilities for drag reduction. In 1941 he completed the Horten IV, the first all-wing aircraft equipped for prone pilotage. Reimar and Walter Horten intended to acclimate pilots to the prone position by using gliders such as the NASM Horten III f. They hoped to smoothly transition pilots to high-performance Horten aircraft equipped with prone cockpits. These "hot rod" Hortens included the H IV and H VI sailplanes, and the jet-propelled H X.
In spring 1944 at Göttingen, a young mathematician named Karl Nickel sampled the prone layout when he flew a Horten III f (it is not known if this same airplane is now in the NASM collection). Nickel's skeptical friends sounded the alarm. How could a pilot maintain proper 'feel' for the aircraft, whether it was banking slightly left or right, while lying on his stomach? It would be impossible, they claimed, to fly instinctively! The controls could not be moved unless the pilot carefully considered each movement beforehand. What of the pilot's personal comfort? Cross-country glider flights often lasted for hours. Even a thick-necked flyer could not hold his head, particularly in high-G thermalling turns. Blood would pool and the limbs would fall asleep! After landing the stiff, immobile pilot would be unable to hoist himself from the prone couch!
Dr. Nickel's fascinating report appears in Karl Nickel and Michael Wohlfart, "Tailless Aircraft in Theory and Practice (AIAA, 1994) on pages 351-355. It conveys his thoughts and feelings as he flew an all-wing Horten glider from the prone position. "I climb from behind [the aircraft] on the center-section of the flying wing to step inside and lie down in it." His parachute hung across his chest and the packed canopy pillowed his torso. The "lying-trough," he continued, "is well-upholstered with foam rubber and artificial leather. . . there is the chinrest which is easily adjustable. The designer has thought of everything and wants to accommodate the pilot in comfort." Horten had fitted seat belts but their operation was unorthodox. "They are fastened over the back and are released automatically as soon as the cockpit is opened. How Practical!"
The prone position demanded a novel control system. Reimar designed one and installed it in all his prone aircraft. He used a yoke-type wheel to transmit pitch and roll inputs to the elevons. Nickel continues: "For fore and aft movements [the wheel] slides back and forth on almost frictionless bearings along a horizontal tube. Will it be possible," he wondered, "to get quickly accustomed to this?" Once airborne, Dr. Nickel had the answer.
"All of a sudden I am completely baffled: there is nothing unusual, it's exactly as flying while sitting in a seat! I feel the stick force, the sailplane reacts to the smallest control movements. I completely forget that I am lying horizontally in space, that the control column [wheel] looks so strange, that the H III is no normal aircraft."
"[It is as though] I had been flying in prone position for years. . . The first gusts are felt and are counteracted automatically, without thinking. I see my hands moving to act in the correct way, but there is no conscious command from the brain. The bird feels good . . . [and this] reaction comes so strong and unexpected that I wish to sing at once. . . I am so delighted . . . there is nothing to learn about prone flying and everything is so simple. But don't start celebrating too early! We [glider and towplane] just crossed the airport boundary as some heavy gusts arrived. No problem to counteract them, but the result is astonishing: suddenly the tow-rope approaches me at full speed, collides with the canopy and disappears aft [the towpilot released his end of the tow rope]. Instinctively my arm shoots up to protect my head, even though it's unnecessary. Next reaction, release the rope too. In front of me lies an "inviting" high-tension line. Hence push [the wheel to maintain speed], [execute a] 180° turn and with the aid of a tailwind, [fly] back over the fence [airport boundary]. Is there enough altitude for a second turn into the wind [to set up for landing]? There better be; carefully "scraping" the turf a flat turn [at very low altitude] is achieved, [landing] skid lowered, no brake necessary, hold off, and here we are back at the starting point of the flight. Ugh!!!"
A half-hour later he was back in the air: "I am floating again in the air . . . flying over the houses and streets of Göttingen. Wonderful, this marvelous view down through the acrylic glass pane. Exactly as on a street map I can track the roads and alleys with my finger. Seemingly just in front of my face there is that hive of activity. Magnificent to soar and glide high over the rooftops, horizontal in space like a bird. This sort of flying really is the only natural way, how could anybody doubt it ever? The view is unobstructed on all sides through the large canopy, but the most astonishing aspect is the excellent view downward. Slowly we are losing altitude. It's time for a thermal to appear. Oops, here it is. Rudder and aileron, slowly pull up, it's just the same as with any other sailplane. Only the banking at first seems to be excessively large . . ."
Nickel initially made excessively shallow, flat turns but after two hours of practice, he adjusted. His mind began to accept and trust the new sight-picture of a standard turn presented by the Horten III f prone position. Banking turns of 60° became easy and "remained the only difficulty I encountered and it didn't occur anymore during later flights." As he built time flying prone, Nickel considered the problem of pilot comfort on long flights.
"Well, after two hours no bodily strain could be felt, but this could perhaps come with longer flights? . . . on the 7th of August 1943, a comparision test was made. . . Hermann Strebel made the first motorless flight of more than 10 hours in prone position with the Horten H IV over the Wasserkuppe mountain. At the same time I myself [flew] for 7 ½ hours in the [Olympia Meise glider]. [Strebel and I were] quite happy together up there, even though he could often out-fly me because of the better performance of his sailplane. After landing I went to him limping with aching backside. But he approached me laughing and completely fresh and could only shake his head to my envious questions: "No, no bruises, no limbs which went to sleep, no stiffness of the neck, nothing!"
Nickel found other reasons to like the prone pilot position. " . . . for tailless sailplanes the prone position is appropriate. . . The main reason for this is the better view of the outside world . . . This is important in particular during aero-tow. Especially with tailless sailplanes a good view of the towing aircraft can be decisive against flying too low and, consequently, being dragged down by the downdraft behind the tow aircraft."
The H III also had good handling qualities and this no doubt boosted Nickel's enthusiasm for the prone layout. He often witnessed Heinz Schiedhauer putting the Horten III d motorglider through its paces at Göttingen in 1943-44. During Schiedhauer's routine, "he did a flyby a few meters above the ground and, just in front of the onlookers, pulled back the stick abruptly. This created a 'whip stall' with a nearly vertical attitude. There was no tail-slide or roll-off, but rather the flying wing fell down into the normal flying position without loss of altitude and continued her horizontal flight."
Horten assigned Werk Nr. 32 to a Horten III f built in 1944 at Göttingen. The NASM III f may be the last of three 'f' subtypes built. All three aircraft featured prone cockpits for minimum drag. The pilot stretched flat on his stomach, bent slightly at the waist and knees, feet resting on rudder pedals hinged above his heels. A padded chin rest supported his head, which projected into the leading edge of the wing. Clear plastic panels formed the leading edge for several feet above, below, and to either side of the pilot. Visibility was excellent and drag greatly reduced. The wing had a maximum speed of 210 km/h (130 mph) and a best glide speed of 63 km/h (39 mph).
Details about the operational history of this glider remain unknown. One month after the war ended, a team of aviation experts working for the C. I. O. S. (Combined Intelligence Objectives Subcommittee) found both the NASM H III f and the H III h. The gliders were recovered "in perfect condition in trailers, with a [sic] full set of instruments" at Rottweil, Germany, on the Neckar River, approximately 60 miles (100 km) southwest of Stuttgart on June 11, 1945.
For a time, the United States Army Air Forces' Air Technical Intelligence (ATI) branch was interested in Horten flying wing aircraft. ATI assigned inventory control numbers to track the thousands of pieces of German military aircraft, equipment, and hardware obtained during and after the war. The following numbers identified Horten gliders now part of the NASM collection:
Horten II L - T2-7
Horten III f - T2-5042
Horten III h - T2-5039
Horten VI V2 - T2-5040
Inexplicably, ATI lost interest and declared "the Horten Tailless Gliders are of no value to us," according to the "Weekly Activity Report - Technical Intelligence - Week Ending 26 June 1945." The H III f and 'III h vanish into an historical black hole for the next two years. The story resumes on October 22, 1947, when Stanley A. Hall wrote a report called "Horten Tailless Sailplanes." Hall explained that the U. S. Air Force loaned the Horten III f, III h, and VI V2 to the Northrop Aeronautical Institute, across the road from the Northrop Aircraft Company in Hawthorne, California. This loan answered a "joint petition of Northrop Aircraft Inc., and the Southern California Soaring Association [SCSA]." The two organizations wanted the sailplanes "for purposes of inspection by West Coast engineers who, in interests of the development of all-wing aircraft, sought for evidence of similarity between the design practices of American and German engineers."
Northrop personnel planned to test-fly the two Horten III gliders but they arrived "damaged beyond reasonable repair [and] too badly damaged to make photography worthwhile." Despite their condition, a throng of aeronautical professionals turned out to inspect them. Among the curious crowds were Northrop engineers and students of the Northrop Aeronautical Institute, members of the Society of Automotive Engineers and the Institute of Aeronautical Sciences. Many SCSA members turned out too, including engineers from Douglas, North American, Lockheed, and Consolidated. Much attention fell on the Horten VI V2. The sailplane was intact and in fair condition and Northrop considered flying it but decided not to because of safety issues.
The Air Force reclaimed the gliders in 1948 and stored them at the Chrysler's World War II aircraft assembly plant at Chicago Orchard Airport, Park Ridge, Illinois. This huge building also housed more than 80 other World War II Allied and Axis airplanes.
In 1950 hasty preparations for war in Korea forced the eviction of more than fifty of these priceless artifacts, including the Horten gliders. Air Force personnel shipped the aircraft by rail and any too large to fit a boxcar surrendered to the cutting-torch. The collection went to an open plot of land near Silver Hill, Maryland, across the Anacostia River south of Washington. For more than 10 years, most of the collection remained outdoors. In 1962, the site started to take the form we know today as the Paul E. Garber Restoration, Preservation, and Storage facility.
In January 1994, NASM shipped the Horten glider collection (H II L, III f, III h, and the VI V2) to the Museum für Verkehr und Technik Berlin, later renamed the Deutsches Technikmuseum (DTM), and that museum worked to restore and preserve these artifacts until 2004.
Wingspan 20 m (66 ft)
Center Section Length 5 m (16.4 ft)
Height 1.6 m (5.4 ft)
Weight Empty 250 kg (550 lb)
Weight Flying 360 kg (792 lb)
Reference Sources and Suggested Further Reading:
Horten, Reimar. "Flying Wing Pilot Position and Design Options," "Soaring," August 1980.
Lee, Russell. "The National Air and Space Museum Horten Sailplane Collection: Horten II L, III f, III h, and VI-V2," "Bungee Cord," Vol. XXIII No. 4, Winter 1997.
Myhra, David. "The Horten Brothers and Their All-Wing Aircraft." Atglen, Penn.: Schiffer Publishing Ltd., 1998.
Nickel, Karl, and Wohlfahrt, Michael. "Tailless Aircraft in Theory and Practice." Reston, Va.: American Institute of Aeronautics and Astronautics, 1994.
Selinger, Peter F., and Horten, Reimar. "Nurflugel: Die Geschichte der Horten-Flugzeuge 1933-1960." Graz, Germany: H. Weishaupt Verlag, 1983.
Beckh, Harald J. "The Development and Airborne Testing of the PALE Seat."
Horten, Reimar. "Flying Wing Pilot Position and Design Options," "Soaring," August 1980, 23.
Russ Lee, 9-2-04
Secretary Wilkie Speaks at VSO Conventions, Tours VA Facilities
Customer service, stability and quality care for Veterans remain top priorities for Secretary Robert Wilkie at the Department of Veterans Affairs. He reinforced that pledge as incoming VA Secretary while visiting medical facilities and attended national Veteran engagements in three states last week. Secretary Wilkie served as keynote speaker at the American Legion’s 100th National Convention in Minneapolis, MN. He called members of the nation’s largest wartime Veterans service organization “powerful advocates” and said “let me thank you, thank the entire American Legion past and present for everything you have done to make this the last best hope of man on earth.”
In referring to his prime directive of customer service, Secretary Wilkie said “we have to talk to Veterans, we have to listen to Veterans, because every major advance and relief for those who have ‘borne the battle’ has come through the efforts of Veterans themselves, not waiting on the slow machine of government to move.” He also lauded the passing of the MISSION Act in making it easier for eligible Veterans of all eras to navigate the system and ensure they receive the best health care possible whether delivered in VA facilities or in the community.
While in Minnesota, the Secretary also visited with patients and was given an expansive tour and briefing by leadership at the Minneapolis VA Health Care System. The facility has an excellent reputation and is known worldwide for its strong research and academic services focused on Veterans. The facility is recognized for its overall performance and rated a 5-Star. Secretary Wilkie was particularly impressed with the advancements in prosthetic technology that is now available to Veterans there.
Secretary Wilkie was also welcomed at Fort Snelling National Cemetery which is listed on the National Register of Historic Places. The cemetery is the final resting place for Minneapolis area Veterans dating back to the Revolutionary War era with more than 225,000 interments.
The Secretary then headed to Dallas, TX to visit with Paralyzed Veterans of America (PVA) leadership and speak to hundreds of attendees at the PVA’s 8th annual Heath Care Summit & Expo. The Secretary reinforced his top priorities and his commitment to working hand in hand with health care professionals saying “as the Secretary of this department, I am the temporary custodian of the flame that first burned on Revolutionary fields in the 1700’s, it is a flame that you all carry and are trusted with and my pledge to you is to be part of your team.” He went on to say, “I am honored to serve with you and I thank you for carrying on the most noble mission in the federal government.”
Secretary Wilkie also engaged with Veterans and leadership at the VA North Texas Health Care System (VANTHCS) in Dallas. Topics of discussion included progress in suicide prevention and mental health awareness outreach, innovative surgical care procedures and modernization efforts. As VA’s second-largest health care system, VANTHCS is available to 600,000 Veterans that live in the northern Texas and southern Oklahoma region.
At the final stop in Cleveland, OH, the secretary served as a keynote speaker for the unveiling of a Gold Star Families Memorial Monument and Medal of Honor ribbon cutting ceremony alongside retired U.S. Marine Corps warrant officer and VA Veterans service representative Woody Williams. Williams received the Medal of Honor during the Battle of Iwo Jima in World War II. Secretary Wilkie also participated in several media interviews including Cleveland’s Morning News in which he told the host “the Gold Star Families…have given the most of all of us and they remind us every day why all of us sleep soundly at night.”
Photos Courtesy Dept. Veteran Affairs
Sukha *Freedom of flexibilty* + Sthira *Stability* =
Sthira sukham asanam: the posture is steady and comfortable.
An opportunity to find the right balance between being powerful and flexible in your everyday life :)
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Deputy Director of the Monetary and Capital Markets Department Fabio Natalucci, Global Head and Director of Climate Business of the IFC Vivek Pathak, Managing Director and Head of Sustainable Finance, Global Policy Initiatives at IIF Sonja Gibbs, and Head of Climate Change at IDB Invest Hilen Meirovich take part in the Global Financial Stability Report: Analytical Chapter 2 Launch Event moderated by Justin Worland, Senior Correspondent for TIME Magazine, during the 2022 Annual Meetings take place at the International Monetary Fund.
IMF Photo/Cory Hancock
7 October 2022
Washington, DC, United States
Photo ref: CH221007011.arw
Oesterreichische Nationalbank
Logo of the Austrian National Bank
Headquarters Vienna, Austria
Central Bank of Austria
Currency€
To ISO 4217 EUR
website
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.
EAST CHINA SEA (Aug. 6, 2020) Sailors assigned to the amphibious dock landing ship USS Germantown (LSD 42) pilot a covered rigid-hull inflatable boat in the East China Sea. Germantown, part of America Expeditionary Strike Group, is operating in the 7th Fleet area of operations to enhance interoperability with allies and partners, and serves 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 )
Oesterreichische Nationalbank
Logo of the Austrian National Bank
Headquarters Vienna, Austria
Central Bank of Austria
Currency€
To ISO 4217 EUR
website
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.
WINNER FOR CATEGORY 4
©Wunder Jan; See also bit.ly/snsf_comp_copy
A 56 kg ball racing down a 30-degree slope at 50 km/h to hit a tree of heaven, a tree native to China that is now spreading throughout Switzerland. Contrary to initial fears, the experiment shows that their proliferation should not reduce a forest’s capacity to protect against natural hazards.
JURY COMMENT: If it weren’t for the scientific context in which it was produced, this video could be drawn from a silent, early 20th century tongue-in-cheek short film.
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Date of recording: 24 March 2016
Camera Color film: Panasonic Lumix FZ1000, 28-400mm, auto exposure, 50fps
Camera for slow motion: Photron Fastcam SA4, Nikon Nikkor 35-80mm, 250fps
Play loop in high quality: Open VLC Mediaplayer, click repeat icon and full screen.
Imported object: In the experiment a ball with a mass of 56 kg in a 30 ° steep tube with 50 km / h is "shot" on a god tree. The impact is recorded with a high-speed camera to analyze the root offset and the changes in the root system. Originally from China, the gods tree has been spreading more and more in the Swiss forests - with unknown consequences for the protection forest stability.
The video shows how effective a relatively thin, healthy tree of the gods (diameter approx. 15 cm) can stop a block of stones - and thus in the future could contribute to protected forest stability in certain regions, which is particularly important as non-indigenous tree species Often as a threat to be eradicated. For the god tree too, a massive destabilization of the protective forest was initially feared by the forest services, which could be disproved with this experiment at least in intact trees.
The founding ALIEN project ("Estimation of the long-term influence of invasive tree species on the effectiveness of rockfall protection forests in Switzerland and France: A case study on the god tree (Ailanthus altissima)", www.wsl.ch/alienproject) is an international cooperation between the WSL Birmensdorf, HAFL Zollikofen, the University of Bern and IRSTEA Grenoble, financed by the Swiss and French National Funds.
The submitted video is a joint production of Jan Wunder, Gottardo Pestalozzi, Simon Knüsel and Marco Conedera (all WSL), supported by our French project partners Franck Bourrier, David Toe and Austin Haffenden (IRSTEA Grenoble). ¦ Image#4_30
The Aggregate Stability Comparison display, (left) using two clear pipes with water, demonstrate the structural stability of healthy soil that has organic matter from cover crops and aeration created by worms and roots, verses soil that is mechanically tilled on a regular basis and falls apart in water, during the U.S. Department of Agriculture (USDA) Natural Resources Conservation Service (NRCS soil health demonstration event “The Bundled Benefits of Soil Health” on Thursday, September 18, 2014 in the People’s Garden,at the USDA headquarters, in Washington, D.C. USDA Photo by Lance Cheung.
Almost two years after the presentation of the EU Global Strategy and more than a year after Jean Claude Juncker’s white book on the future of Europe, the European Union still struggles with major challenges and threats that seem to undermine the stability of the security environment within its borders and in its neighbourhood. In the aftermath of Brexit and with the proximity of to the European Parliament elections in 2019, the third International Conference Europe as a Global Actor (Lisbon, May 24 & 25, 2018) will discuss the role the EU can play in the current global transformations, as well as the domestic and external obstacles it faces as a global actor.
The Center for International Studies of ISCTE-IUL organized the third edition of the International Conference “Europe as a global actor”, on 24 and 25 May.
The opening lecture was given by the Portuguese Minister of Foreign Affairs, Augusto Santos Silva, on May 24, at 09:30 am.
The Conference Program also included a debate on the state of the Union with the presence of Portuguese MEPs, panels and round-tables on the challenges of the Common Security and Defense Policy, the future of European security and defense, the EU’s relationship with other global players and the future of the European Union as a global player. In addition to the presence of several invited scholars, in plenary sessions moderated by Portuguese journalists, the program also included the presentation of communications by around 40 international researchers in this area of knowledge.
May 24th
9h00 | Registration – Floor 2, Building II
09h30 | Opening Remarks (Aud. B203) – session in Portuguese
Keynote Speaker: Augusto Santos Silva, Portuguese Minister for Foreign Affairs
Helena Carreiras (Director, School of Sociology and Public Policies, ISCTE-IUL)
Luís Nuno Rodrigues (Director, Center for International Studies, CEI-IUL)
10h45 – 11h00 – Coffee Break
11h00 | Round Table I: CSDP: challenges and opportunities (Aud. B203)
Moderator: António Mateus (RTP)
Laura Ferreira-Pereira (Universidade do Minho)
Jochen Rehrl (EEAS – ESDC)
Ana Isabel Xavier (CEI-IUL)
12h30 – 14h00 – Lunch
14h00 – 15h45 | Parallel Sessions I
Panel 1 –The future of European Security and Defence (Room C201)
Moderator: Ana Isabel Xavier (CEI-IUL)
Stefano Loi (CEI-IUL): “The PESCO agreement and the future of the European common defence”
Lorinc Redei & Michael Mosser (University of Texas at Austin): “The European Union as a Catalyst in European Security”
Patricia Daehnhardt (IPRI-NOVA): “The EU and transatlantic relations: the end of the Euro-Atlantic security community?”
Panel 2 – The European policy on migration and asylum (Room C301)
Moderator: Giulia Daniele (CEI-IUL)
João Barroso (CEI-IUL): “The EU and the refugee crisis: a literature review”
Tommaso Emiliani (College of Europe): “EU Migration Agencies: More “Guarding”, Less “Support for Asylum”? An Assessment of How the European Board and Coast Guard and the European Asylum Support Office Pursue Their Relations with Third Countries in Light of the So-Called ‘Refugee Crisis’.”
Emellin de Oliveira (NOVA): “The Securitization of Migration through Technology: an analysis of the PNR Directive”
Panel 3 – The state of the Union and the future of Europe: reflections and scenarios (Room C302)
Moderator: Ana Lúcia Sá (CEI-IUL)
Luís Machado Barroso (CEI-IUL; IUM) & Marco António Ferreira da Cruz (IUM): “It is not enough to be… It needs to be seen”: the analysis of EUGS implementation 1st Year report”
Ricardo Alexandre (CEI-IUL): “The Western Balkans Euro-fatigue and the impact on EU of potential alternatives to integration”
Dina Sebastião (University of Coimbra): “The persistence of Portuguese Atlanticism as a block for a supranationalization of European defence policy”
15h45 – 16h00 – Coffee Break
16h00-18h00 | Round Table II – The EU & other global players (Aud. B204)
Moderator: Helena Tecedeiro (Diário de Notícias)
Thomas Diez (University of Tübingen)
Maria Raquel Freire (CES-UC, Coimbra)
Luís Tomé (Universidade Autónoma de Lisboa)
Bruno Cardoso Reis (CEI-IUL, Lisbon)
18h00 – 20h00 | Parallel Sessions II
Panel 4 – Brexit (Room C401)
Moderator: Bruno Cardoso Reis (CEI-IUL)
Sanja Ivic (Institute for European Studies, Serbia): “The Question of European Identity in Light of Brexit”
Allan F. Tatham (Universidad San Pablo-CEU): “‘Breaking up is Hard to Do’: The evolution of the EU’s withdrawal criteria”
Christopher Pitcher (ISCTE-IUL): “‘I voted remain’ a look at the social and political divides within Brexit Britain through qualitative analysis of the narratives and attitudes of British citizens who voted remain”
Luana Lo Piccolo (ISPI – Milan): “Brexit: an increasing fragmentation of the international architecture”
Panel 5 – The EU and its Neighbourhood (Room C402)
Moderator: Cátia Miriam Costa (CEI-IUL)
Petar Georgiev (Council of the EU): “Pursuit of greener pastures in the Eastern neighbourhood: reconciliation of EU’s security interests and normative ambitions”
César García Andrés (Universidad de Valladolid): “The role of Ukraine within the European neighborhood policy and its effects on relations with Russia”
Mónica Canário (CEI-IUL): “Why do we need a real gender policy in the EU?”
Filipe Lima (CEI-IUL): “The EU and Israel and Palestinian Conflict”
Panel 6 – Transnational threats (Room C502)
Moderator: Ana Margarida Esteves (CEI-IUL)
Sofia Geraldes (ISCTE-IUL): “Digital Battlefields: Assessing the EU soft security actorness countering social media information warfare activities”
Marc de Carrière (Amarante International): “Going beyond NATO’s Article 5: A EU-NATO Blockchain to deter cyber warfare”
Davoud Gharayagh-Zandi (IRS; Shahid Beheshti University) & João Almeida Silveira (FCSH-NOVA): “The European Union security actorness within EU-Iran relations in the Post JCPOA Era”
Henrique Miguel Alves Garcia: “Radicalization in Belgium and EU security environment”
Susana Pedro
At the end of World War II, the victorious Allies captured both German scientists and research papers in aerodynamics which had given the Germans a slight edge in technology during the war. Among this was research into swept wings, which promised better handling at high speeds, a feature used successfully in the Messerschmitt Me 262. All the combatant nations had been developing jet fighters at the end of the war, and the Soviet Union was no different: like the Western Allies, it found the swept wing concept to be a perfect solution to add speed without sacrificing stability; unlike the West, the Soviets could not take advantage of it due to a lack of adequate jet engines. Soviet metallurgy was simply not up to the task, and experimental jet fighters were severely underpowered.
Engine designer Vladimir Klimov, however, came up with a novel idea: he asked the British in 1946 if they could provide a few examples of their latest engine. To the stunned surprise of Klimov, the Mikoyan-Gurevich design bureau, and Josef Stalin, the British complied, providing Klimov with the plans for the Rolls-Royce Nene turbojet, one of the most successful jet engines in history. Klimov quickly reverse engineered it as the VK-1, and just like that, the Soviets had the perfect engine for their planned jet interceptors.
MiG OKB already had a jet fighter in service, the MiG-9, but it was a poor performer. By modifying a MiG-9 into the I-310 prototype, with VK-1 propulsion and swept wings and tail surfaces, the resultant aircraft was superb: it was very manueverable and fast. It was placed into production as the MiG-15. This in turn was superseded by the more advanced and reliable MiG-15bis, which added airbrakes and a few minor avionics changes. Though pilots hated the cramped cockpit, which forced them to fly without heated or pressurized flight suits—a real concern in frigid Russian winters—they loved its responsiveness and speed. Though the MiG-15 was designed to intercept the B-29 Superfortress, hence its heavy cannon armament, it could hold its own in a dogfight. It rapidly replaced most propeller-driven fighters in the Soviet inventory, and was quickly supplied to Soviet client states.
The MiG-15 would get its first taste of action during the Chinese Civil War, when Russian-flown MiG-15s flew on behalf of the Communist Chinese against the Nationalists; a P-38L was shot down on 28 April 1950 for the type’s first victory. By far, however, it would be Korea where the MiG-15 would see the most action.
After starting out well, the North Korean armies were, by fall 1950, in full rout from South Korea, pursued by United Nations forces. The World War II-era North Korean People’s Air Force had been annihilated by UN aircraft, and though China intended to intervene on behalf of North Korea, it lacked trained pilots. Stalin agreed to secretly provide both MiG-15s and the pilots to fly them, operating from bases in China across the Yalu River from North Korea. The pilots, under command of Soviet top ace Ivan Kozhedub, were instructed to speak in what little Korean they knew, and never fly over territory where they might be captured. The former was rarely heeded in the heat of combat, while the short range of the MiG-15 limited pilots to flying in and around the Yalu valley in any case. This rapidly became known as “MiG Alley.” By November 1950, Russian-flown MiG-15s were in combat against American and British aircraft, and both sides fielded pilots who had already flown combat in World War II. Both sides were to find they were close to evenly matched as well: the Russians claimed the first jet-to-jet victory on 1 November, when a MiG-15 shot down a USAF F-80C; four days later, they suffered their first loss, to a US Navy F9F Panther. Most engagements were to occur between the F-86 Sabre and the MiG-15.
Once more, the two were closely matched. The MiG-15 had a better rate of climb, was superior above 33,000 feet, and had harder hitting cannon armament. The F-86’s six machine guns were often ineffective against the rugged MiG, but it was more manueverable, especially at low level, and if the machine guns did not cause as much damage, they fired at three times the rate of the MiG-15’s cannons, and usually hit what they aimed at, due to a superior radar-ranging gunsight. Both sides had to deal with instability at high speeds: if the MiG pilot got into trouble, he would climb out of danger, whereas the Sabre pilot would dive. The pilots were evenly matched, though the Russians would later admit that the Americans were better trained. Both sides overclaimed during the war, with both Soviet and American pilots claiming 12 to 1 kill ratios: the truth may never be known, though 40 Russians were awarded the title of ace during the war.
After the end of the Korean War, the MiG-15 remained in service, though it slowly began to be replaced by the MiG-17 and MiG-19. Nonetheless, MiG-15s were involved in eleven separate incidents during the Cold War, shooting down several US and British reconnaissance aircraft and an Israeli airliner. By the mid-1950s, however, the MiG-15 was beginning to show its age, and in combat with Sidewinder-equipped F-86s of Taiwan and Israeli Super Mysteres, it came off second best. Gradually, single-seat MiG-15s were retired from active service, though hundreds of two-seat MiG-15UTI “Midget” trainers remained in service; the MiG-15UTI is still flown by several air forces to this day. About 16,000 MiG-15s were produced in the Soviet Union, Poland, and Czechslovakia, and a good number remain in existence today in museums and numerous flyable examples, including 43 in the United States.
With the knowledge that the MiG-15 would be a handful to fly for pilots used to propeller aircraft, some MiG-15s were modified with a cramped but serviceable rear cockpit; the student either used a periscope from the rear cockpit, or flew up front with the instructor behind him. The Midget was so successful that the Soviets did not build two-seat versions of the MiG-17 and MiG-19. Like most MiG-15UTIs on display in the United States, this is a former Polish SBLim-1, a MiG-15UTI built under license in Poland. It flew with the Polish Air Force through the 1960s to the 1990s as Bort 114, but was retired and put up for sale in 2003. It was acquired by the Southwest Florida Defense Antiquities Museum in Fort Myers, but in 2013, it was sold to the Inde Motorsports Ranch in Willcox, Arizona.
Like most of the collection at Inde Motorsports, this Midget is in great shape, painted as a Soviet Air Force MiG-15UTI in 1980s-era tactical camouflage, as Bort 625. Interestingly, this aircraft retains its guns and possibly its ejection seats as well.
Borinqueneers Open Doors to Peace and Security
Combined Joint Task Force - Horn of Africa
Story by Master Sgt. Ruby Zarzyczny
Date: 10.23.2009
ENTEBBE, Uganda—"Borinqueneers" from Combined Joint Task Force-Horn of Africa opened the doors to its seventh Counter Terrorism Course for the Ugandan People's Defense Force, July 30, at the Kasenyi Military Training center.
The four-month course is being taught by "Borinqueneer" Soldiers from the 1/65th Infantry Battalion, Puerto Rico National Guard. According to historical records, the men of the 1/65th IN BN came up with the nickname "Borinqueneer" during a long sea voyager while serving in the Korean War. It is a combination of the words Buccaneers and Boriquen which is the name the Tainos Indians called the island (Puerto Rico) before the arrival of the Spaniards.
This is not the first time the 1/65th IN BN has been deployed to Africa. According to 1/65th IN BN historical documentation, they were deployed during WWII to North Africa in 1943. In 1944, they moved forward from Casablanca, Morocco to Italy and then France to join the 3rd Battalion and defeated Germany's 34th Infantry Division's 107th Infantry Regiment.
Sixty-six years later, the 1/65th IN BN is once again deployed to Africa. This time, they are deployed to Camp Lemonnier, Djibouti to support the Combined Joint Task Force-Horn of Africa's mission to foster regional stability, build security capacity, and forge relationships with our African partner nations.
In July, the 1/65th IN BN open the doors to teach the counter terrorism course for the first time in Africa. During the course the instructors and assistant instructors from the UPDF (soldiers who have graduated from previous courses) will partner to share their knowledge and skills with the UPDF student soldiers to help the UPDF develop counter terrorism practices to increase peace and security in Uganda, said Sgt. 1st Class Heriberto Crespo CJTF-HOA Counter Terrorism Course non-commissioned officer in charge.
Before deploying, most of the instructors received additional training in Puerto Rico to become instructors and some have experience mentoring Afghani soldiers during the unit's previous deployment to Afghanistan.
"It's a great experience to be able to mentor the UPDF students by giving them the knowledge I have as an infantryman," said Specialist Jose Alicea, 1st Platoon instructor. "It's a great feeling knowing you're able to help someone be more proficient at their job. I'm not only teaching them, I'm also learning from them as I see their progress."
The course is taught using UPDF equipment, supplies and weapons used by the Soldiers to perform their duties. The instructors received additional training on the AK-47 rifle used during the course. Private Kamba Boaz, UPDF soldier and 1st Platoon assistant instructor, works with the instructors and helps keep communication flowing during the classes.
"It's a very good opportunity for me because I am learning more and have the opportunity to bring my skills to the training," said Pvt. Boaz. "Working with the men from the 1/65th (IN BN) from Puerto Rico is the most wonderful thing. They are good friends. They are real professionals. Through our friendship, we are able to learn more from them and they are able to learn more from us."
Before the students start learning counter terrorism techniques, they will learn basic soldier skills during the first eight weeks of training. Some of the skills include individual movement, map reading, land navigation, first aid, search techniques, improvised explosive devices recognition, HIV prevention and human rights. Once these skills are mastered, the students will progress to squad operations and learn to work as a team.
Each squad is made up of nine soldiers. During this section of the training they will learn to move as a team to maneuver through danger areas and identify details as a group. Supervised by the instructors, the students practice these skills in training scenarios called training lanes. Using the standard operating procedures the students are evaluated to ensure they understand the basic skills before moving to the second phase of the course Military Operation Urbanized Terrain training.
"We train to standards not to time," said Crespo. "We will take as much time as needed until each student performs to standard. We move as fast as the slowest soldier and the training platoons move forward at the same time."
The course is divided up into four platoons of 40 students each having four to five instructors and an assistant instructor. The training is progressing at a steady pace as the UPDF students are fast learners and some have already faced combat in the Congo, said Crespo. Despite the language barriers and slow supply lines the students are motivated to learn.
"Both students and instructors face the challenge of English as a second language," said Crespo. "We all understand English, but we add different accents to the language. After about three weeks, we were able to understand each others accents and now we are sharing languages. Many of the students are learning our language, Spanish."
The instructors anticipate the MOUT training to start sometime in late October. The UPDF leaders have asked the CJTF-HOA to provide the students with realistic training. The 1/65th instructors have created a MOUT site to resemble an urban environment similar to a Ugandan village.
"Terrorist don't fight in the open with soldiers," said Crespo. "They attack cities, hospitals, churches, schools, urban areas with innocent people. That's where terrorists attack. We will build a MOUT site resembling a city in Uganda and train the UPDF students to detect and respond to terrorist attacks."
These instructors from the 1/65th are the tip of the spear for their unit. The course is expected to finish later this year and will end with a graduation ceremony attended by UPDF and CJTF-HOA military leaders. Successful completion of this course will open doors for similar training opportunities for the 1/65th IN BN with CJTF-HOA's African partners throughout the Horn of Africa, said Sergeant Crespo.
Photo Caption:
ENTEBBE, Uganda--During a break at the Combined Joint Task Force-Horn of Africa Counter Terrorism, Spec. Jose Alicea, 1/65th Infantry Battalion 1st Platoon instructor discusses search procedures with a Ugandan People's Defense Force student Sept 23, 2009. (Photo/Released Master Sgt. Ruby Zarzyczny)
ADULT SEA OTTERS: MONTEREY BAY
The southern, or California, sea otter (Enhydra lutris nereis) has been listed as a threatened species under the Endangered Species Act since 1977. It belongs to the order Carnivora and the family Mustelidae. Two other otter subspecies are also recognized – E. lutris kenyoni, which is found from Oregon to Alaska, and E. lutris lutris, which inhabits parts of Russia and northern Japan. Sea otters are highly specialized marine mammals capable of living their entire lives without ever having to leave the ocean, have the densest fur of any mammal and are one of the few marine species to use tools. Sea otters are an apex predator of the near shore ecosystem. The species is considered a keystone species because of their critical importance to the health and stability of the near shore marine ecosystem. They are also considered a sentinel species because their health reflects that of California’s coastal oceans. The southern sea otter population has exhibited high levels of mortality in recent years. Scientists attribute up to 40 percent of southern sea otter mortality to infectious diseases alone, many of which are known to have anthropogenic causes and land-sea linkages. The single greatest threat to the sea otter is an oil spill. One large oil spill in central California could be catastrophic, with the potential of driving the entire southern sea otter population into extinction.
Description
The sea otter is one of the smallest marine mammals, but one of the largest members of the family Mustelidae, a group that includes skunks and weasels among others. Adult males reach an average length of 4.5 feet (1.4 m) with a typical weight between 50 and 100 lbs. (23 to 45 kg), while adult females reach an average length of 4 feet (1.2 m) and typically weigh 45 lbs. (20 kg). It has a highly buoyant, elongated body, blunt snout and small, wide head. Sea otters have an acute sense of smell and taste and have good vision both above and below the water surface. They also rely heavily on their sense of touch.
Sea otters exhibit numerous adaptations, which help them survive in their challenging marine environment. Long whiskers help them to detect vibrations in murky waters and sensitive forepaws, with retractable claws, help them to groom, locate and capture prey underwater, and use tools. When underwater, they can close their nostrils and small ears. The sea otter’s hind feet are webbed and flipper-like, and are used in conjunction with its lower body to propel the animal through the water. It has a long, flattened tail, which they use as a rudder and for added propulsion. Hearing is one sense that is not yet fully understood, although studies suggest they are particularly sensitive to high-frequency sounds. Their teeth are unique for a mammal in that they are blunt and designed for crushing, rather than being sharp for tearing like most marine mammals are equipped with.
With the exception of its nose and pads of its paws, the sea otter’s body is covered in dense fur. The fur consists of two layers. The short, brown under fur can be as dense as 1 million hairs per square inch, making its fur the densest of any mammal. By comparison, we only have about 100,000 hairs in total on our heads. A top layer of long, waterproof guard hairs helps to keep the under fur layer dry by keeping cold water away from the skin. The pelage is typically deep brown in color with silver-gray highlights, with the coloration of the head and neck being lighter than the body. Unlike other marine mammals, such as seals and sea lions, sea otters do not have any blubber, so they depend on this exceptionally thick, water-resistant fur to stay warm in the cold, coastal Pacific.
Range & Habitat
Historically, southern sea otters were present in coastal marine habitats from northern California to Baja California in Mexico. This range decreased significantly during the fur trade during the 18th and 19th centuries, with excessive hunting nearly driving the species into extinction by the early 1900s. The current range extends along the California coast from Half Moon Bay in the north to Santa Barbara in the south, though individuals are occasionally seen outside these limits. A small population of sea otters lives at San Nicolas Island as a result of translocation efforts initiated in 1987.
Sea otters are found in a variety of coastal marine habitats, including rocky shores and sea-bottoms, sandy sea-bottoms, as well as coastal wetlands. Sea otters naturally inhabit offshore areas with an abundance of food and kelp canopy. They tend to live in ocean depths shallower than 130 feet (40 m) with water temperatures ranging between 35°F and 60°F.
Behavior
Most of a sea otter’s life is spent at sea, though they do occasionally haul out on land, where they appear clumsy and walk with a rather awkward gait. They eat, sleep, mate and give birth in the water. Sea otters spend most of their time floating on their backs at the surface grooming, eating, resting, and diving for food on the seafloor. Sea otters are relatively slow swimmers, generally traveling at 3-5 mph (5-8 km/h). They typically swim belly-up on their backs, propelling themselves through the water using their webbed hind feet. If a faster speed is required, for instance when a male is patrolling it’s territory for competing males or when in hot pursuit of a sexually receptive female, it turns over onto its stomach and in addition to using its webbed hind feet, it undulates its entire body for greater propulsion and acceleration.
Sea otters groom themselves almost continuously while at the surface, a practice critical for maintaining the insulating and water repellant properties of their fur. Its pliable skeleton and loosely fitted skin allow the animal the flexibility to reach any part of its body. During a grooming bout, which generally occurs directly after a foraging bout (a period of time in which diving and eating takes place) or resting bout, the animal can be seen somersaulting, twisting and turning, and meticulously rubbing its fur at the water surface. This behavior not only cleans the fur, but also traps air bubbles against the skin within the millions of hairs of its pelage. This layer of entrapped air creates an insulating barrier (similar to that of a double-paned window), which prevents water from reaching the skin. Constant grooming is absolutely critical for their survival. If cold ocean water reaches their skin, it will immediately begin to draw heat out of the animal, which disrupts the animal’s ability to thermo regulate and will ultimately lead to hypothermia and death.
Sea otters often rest together in single-sex groups called rafts. They are known to wrap themselves up in kelp to keep from drifting out to sea. While resting at the surface, a sea otter will often times hold its forepaws above the water surface and fold its hind feet up onto to its torso to help conserve heat.
With the exception of territorial males, who have the privilege of living among females, males and females tend to live in separate groups. The center of the sea otter range is predominately occupied by females (of all ages) and territorial males, as well as some dependent pups and recently weaned juvenile males. The northern and southern edges of the range are largely male dominated areas; consisting of juvenile, sub adult and adult males. Numbers in these male areas tend to increase in winter and spring because there are fewer mating opportunities with sexually receptive females during this time of the year.
Females generally have small home territories while many adult males hold larger aquatic territories consisting of several adult females. Bachelor males (animals who are either to young or too old to defend their own territories) reside in the large male-only groups at either end of the range. Males travel much greater distances throughout the range than females, typically making seasonal treks of up to 200 miles between the months of June and November when the highest proportion of females are in estrous. On any given day though, males tend to remain in the same general location, moving only a mile or two along the coastline. Females, on the other hand, are sedentary by nature, generally staying within 10 – 20 miles of their home ranges. Their home ranges are smaller because they have higher metabolic costs while pregnant and raising their pup.
Sea otters are equally active both night and day. A foraging bout occurs for several hours in the morning, typically starting just before sunrise. A second foraging bout begins in the afternoon, usually lasting for several hours until sunset. A grooming bout occurs before and after each foraging bout and resting bout follows at midday, followed again by another grooming and resting bout. A third foraging bout may also occur around midnight.
Although difficult to hear from shore, sea otters exhibit a variety of vocal behaviors. Pups are the most vocal. A pup can be heard squealing when its mother leaves it to dive for food and often times when a male approaches. Their cry is similar to that of a gull. Other vocalizations include: coos and grunts, which occur when an animal is eating or when content, as in the case of a pair-bonded couple during courtship; whines occur when an animal is frustrated, as in the case of an older pup wanting to suckle or an adult male attempting to mate with an uninterested female; growls, snarls, whistles and hisses can be heard when an animal is frightened or distressed, as in the case of a captured otter.
Food & Foraging
An otter must consume approximately 25% of its bodyweight in prey each day just to stay alive! A 75-pound otter can eat up to 1,500 sea urchins a day, or about 25 pounds of seafood (for a 75 pound kid, that would amount to eating 75 quarter pound hamburgers every day!). To meet its high energetic and thermoregulation demands, a sea otter’s metabolic rate is 2 to 3 times that of comparatively sized mammals. Sea otters consume a wide variety of benthic invertebrates. Prey items include sea urchins, abalone, crabs, mussels, clams, marine snails, marine worms, sea stars, and squid. In total, otters eat at least 50 species of benthic (bottom-dwelling) invertebrates, although individuals tend to specialize on only a few main prey types. Prey specialization and feeding preferences are passed on from mother to pup.
The strong forelegs paws are used to locate and capture prey. Pockets of loose skin under each foreleg are used to store prey it has gathered on the seafloor for the ascent to the surface. Rocks are often used as tools to dislodge prey on the sea floor and to break open the hard outer shells of some prey items upon returning to the surface. Floating belly-up in the water, they place rocks on their chests and repeatedly pound hard-shelled prey against them to gain access the meat inside. While eating, an otter will roll repeatedly in the water to wash away food scraps from its chest. Unlike most other marine mammals, sea otters commonly drink seawater. Although most of the animal’s water needs are met through the consumption of prey, its large kidneys allow it to extract fresh water from seawater.
Sea otters generally forage close to shore in depths shallower than 60 feet (18 m) but are capable of diving to depths of 300 feet (90 m) or more. With a relatively large lung capacity for it’s size, an otter can hold its breath for 5 minutes, but most dives are two minutes or less in duration. Source: www.seaotters.com