The Paris attacks will cost the French economy more than $2 billion

The attacks in Paris on Nov. 13 took 130 lives and permanently altered many more. Against this, discussing the financial costs of that day of terror may seem gauche. But as Paris, and France, tries to return to some sense of normalcy, it must address the economic damage of terrorism as well as its human toll.

According to an analysis by the French treasury, reportedly seen by radio station RTL(link in French), the attacks will cost the economy some €2 billion ($2.1 billion), mainly via subdued tourism and consumer spending. When contacted by the newspaper Le Figaro(link in French), the treasury called it a “first estimate” and refused to comment further, saying that a more comprehensive analysis will be released in the coming weeks.

The French economy as a whole is worth some €2.1 trillion, so the estimated cost of the attacks is only about 0.1% of annual GDP. But for an economy that has struggled to post much growth recently—0.3% in the third quarter, after no growth at all in the second—this makes a difference. And the impact on the tourist and retail trade may be outsized, given that it comes in the midst of the crucial Christmas shopping season.

That said, as Quartz recently reported, past experience suggests that the economic effect of terror attacks tends to be short-lived. Indeed, surveys of corporate managers conducted after the attacks suggest as much (pdf). For every hotel or airline that may miss out on business, there is a security or surveillance firm that may gain new contracts.

France had already boosted its military budget earlier this year following the Charlie Hebdo shootings in January. Following the latest attacks, a surge in recruits andintensification of airstrikes on ISIL in Syria is a sign that the defense industry will be even busier in the coming quarters. But whether this sort of spending (and related borrowing) is as productive or job-creating as other uses is still being debated in the case of the US response to the 9/11 attacks.

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Taiwan has finally been recognized as a country—by ISIL

The Islamic State, or ISIL, released a new propaganda video Wednesday (Nov. 25), containing a lot of the usual stuff. Surprisingly good production quality, self-aggrandizement, America-bashing, etc.

But there was a moment in the video that has simultaneously perplexed and angered the Chinese-speaking world: Among the flags of the countries that form the "Global Coalition Against the Islamic State" is that of Taiwan, which basically never gets high-level diplomatic recognition.

ISIL appears to have joined the very small club of political entities that acknowledge Taiwan. Only 22 countries recognize the island as a separate nation from mainland China, and they are mostly very small, relatively poor, and beneficiaries of considerable foreign aid from Taiwan's capital of Taipei.

What led Taiwan to get ISIL's attention? Probably Barack Obama who, speaking at an ASEAN summit in Malaysia earlier this week, mentioned several nations "that are members of [America's] coalition against ISIL", and included Taiwan. Taiwan is in fact providing humanitarian aid and emergency relief to the anti-ISIL campaign led by the US, defense spokesman General Luo Shou-he told local reporters.

Inclusion on ISIL's list has been a bit surreal for the people of Taiwan, who are wont to feel a sense of national pride whenever their flag is given equal treatment to other countries'. Here they are placed alongside no less a country than the United States.

Clearly, this "victory" is a hollow one for Taiwan.

ISIL's inclusion of Taiwan is also sure to make China even angrier, after the first Chinese citizen was killed by the terrorist group this month. China views Taiwan as a renegade province that will eventually be reunified with the mainland, and any mention of it as a separate entity is considered an affront to Chinese national sovereignty—and sometimes forcibly stamped out by Beijing.

Taiwanese president Ma Ying-jeou has told his compatriots to remain calm in the wake of the video.

"We are nicer to Muslims than any other country," said Ko Wen-je, the independently minded mayor of Taipei, when asked about the video. "Why on earth would we be included on this list?"

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This is The destructive ways which terrorists use to make money

Terrorists make headlines by destroying ancient sites like Palmyra, outside Syria. But there's an even more sinister endgame, as archaeologist Sarah Parcak explains.

You’ve probably heard of blood diamonds and blood ivory. But what about blood antiquities?

Over the past two decades, fundamentalist groups have discovered that they can get global attention by destroying irreplaceable ancient sites. The Taliban set dynamite to thestanding Buddhas at Bamiyan in 2001, and now the Islamic State (ISIL) is deliberately destroying the 2,000-year-old city of Palmyra, in Syria. ISIL is all about shock value, and its leaders are laying waste to this symbol of diplomacy and culture piece by piece, so much so that you can actually predict what they’re likely to destroy next.

Satellite view of the Temple of Bel in Palmyra. Photo: Google Earth/Digital Globe.

As a satellite archaeologist, I know this because I have been watching. I am part of a network of people monitoring what's happening at ancient sites in Iraq and Syria -- from space. We can see clearly the destruction. We can also see something else just as important that they are doing much more quietly: they are renting out the land on which archaeological sites sit to people who appear to be professional looters in order to sell priceless antiquities for profit.

'ISIL has encouraged the looting of archaeological sites for two purposes: making money and erasing the cultural heritage of Iraq and Syria.'

There are real reasons we should all care about both the destruction and the plunder. As Andrew Keller, the co-lead for the US government’s efforts to counter ISIL’s finances,noted in September 2015: “ISIL has encouraged the looting of archaeological sites for two purposes: making money and erasing the cultural heritage of Iraq and Syria.” That’s why the FBI alerted art collectors and dealers in August that artifacts taken by ISIL are entering the marketplace. In May, US Special Operations Forces raided the compound of an ISIL finance chief and found a stockpile of historical objects. That finance chief is described as the head of “ISIL’s oil and gas, and antiquities division.” Think about that: the same person within ISIL is in charge of revenue from oil -- an obvious money-maker -- and antiquities. Looting is systematic, controlled -- and of great strategic importance to a terrorist organization.

Keller estimates that as many as 5,000 archeological sites sit in territory ISIL controls, and that the group has earned several million dollars from antiquities sales since the middle of 2014. When you use satellite imagery to map these areas, it’s clear that thousands of archeological sites in the region haven’t been mapped or surveyed yet. And there is still so much we just don’t know.

These cultural assets, from a destroyed site at Palmyra, were headed for the black market when they were seized by the Lebanese government. There are international black markets to deal with assets from Palmyra sites, which are being destroyed by ISIL in an attempt to make antiquities into a funding source. Photo: The Asahi Shimbun/Getty Images.

We have no idea of the value of what’s being taken. We don’t know how the money flows. Documents suggest ISIL is collecting a 20 percent “khums” or sales tax on the proceeds of looting -- but we just don’t know exactly. And we don't know the extent of the networks involved. We suspect that the sale of antiquities is connected to gun running, drug and human trafficking, and that they are potentially following the same routes to black markets in the East and West. But we don't know which criminal elements are involved.

In archaeology, context is everything. Objects allow us to reconstruct the past. Taking artifacts from a temple or an ancient private house is like emptying out a time capsule. We’ll eventually get the box, with nothing inside. Looting has an immense impact on our ability to understand our global cultural heritage; once these objects are gone, so too is our chance of piecing together humanity’s shared story.

We need to spread the word that the purchase of blood antiquities supports criminal networks.

Of course, looting has always happened. The pyramids in ancient Egypt were looted not long after they were officially sealed, 4,500 years ago. Looting speaks to a lack of economic opportunities -- frankly, we all would loot too if our families’ continued survival depended on it. It’s not something we can fully stop, but it's something we must take action to lessen.

Ultimately, we need to shut down the markets for blood antiquities. There are many places to buy antiquities legally: online marketplaces where you can get cylinder seals from Mesopotamia for a couple hundred dollars, or auction houses where you can buy a cache of cuneiform tablets for $200,000. But objects coming from Syria, Iraq and other parts of the Middle East right now may well be looted. (The owner of the US-based arts and crafts chain store Hobby Lobby, for example, is under investigation for buying “illicit artifacts” from this region.) We need to spread the word and let collectors know that, just as it does with blood diamonds or blood ivory, the purchase of blood antiquities supports criminal networks.

Back in the 1950s, people loved fur. Now, very few people wear it. If we can raise awareness of the ethical issues involved in buying antiquities, we can find ways for everyone to be a part of understanding our shared history. The past should be in our hearts, not on our shelves, and we should all be mindful of the true impact of looting, which affects us all, whether we know it or not.

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Sale BG | Purchase BG | Fresh Cut BG | Lease BG without upfront ICBPO

I have Genuine BG seller who can arrange your Fresh cut BG, Lease BG/SBLC / SSBG and FC BG or SBLC from top 25 international Bank, No upfront ICBPO. 

We can close deals within 1 week. This offer is only for serious Buyer only.

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BG/SBLC Monetization

BG& SBLC Monetization--------


ISSUING BANK------ HSBC LONDON, HSBC HONG KONG, BARCLAY'S BANK, STANDARD CHARTERED  OR  ANY TOP BANK.

Procedure--1

1.1 Letter of Intent/Deed of Agreement (LOI)

1.2 Client Information Sheet (CIS) 

1.3 Corporate Resolution (CR) 

1.4 Non-Solicitation Statement (NS) 

1.5 Non-Circumvention and Non-Disclosure Agreement (NCNDA)

1.6 Irrevocable Master Fee Protection Agreement (IMFPA)

1.7 The Receiving Party Signatory’s Color Copy of Passport

 1.8 The Receiving Party’s Certificate of Incorporation (COI)

2. The Receiving Party Letter of Exclusivity what purpose you need SBLC - Business Summary use of funds

                                            

3. After signing the agreement and simultaneously or latest within 2 banking days with the return of the agreement by the Issuing  Party, 

4. Within 3 banking days The Issuing bank sends R.W.A. (Readiness Willing and Able) via Swift MT199 to Receiving bank and copy of the R.W.A. will be sent to receiver by email.

 

5. Within 2 banking days of the receipt of the MT199 R.W.A. from Provider’s bank, receiving bank issues BCL (Bank Comfort Letter ) for ------% of face value to Provider’s bank via Swift MT199.

6. Within 2 banking days upon success confirmation of Receiving bank’s BCL, the Issuing’s bank shall send Pre-advice via Swift MT-799 to the Receiving Bank.

7. Within 3 banking days after authentication of Pre-Advice Swift MT-799, the Receiving Party’s bank will issue Bank Funding Undertaking via swift MT799 to the Issuing Party’s Bank.

8. The Issuing Party will issue & deliver the SWIFT MT-760 BG/SBLC to the Receiving Party bank for authentication & verification of the FC BG/SBLC in favor of the Receiving Party.

    

9. Within 3 banking days of confirmation and verification of the Issuing Party swift MT-760 FC BG/SBLC, Receiving bank shall disburse the agreed funds via MT103 or wire transfer to Issuing Party’s nominated bank account, simultaneously, distribute consultants fees to all consultants per IMFPA which is an integral part of this contract.

10. Within 7 banking days after confirmation of receipt of the agreed funds, the Issuing Party will deliver the hard copy of the FC BG/SBLC MT760 to the Receiving Party bank via bank bonded courier.

11. All subsequent tranches will be based on the same procedures or as agreed by both bank officers per banking protocol until collateral or funds become exhausted.

                                                                         MT199 VERBIAGE

ISSUING BANK:

ACCOUNT HOLDER:

ACCOUNT NUMBER:

ADDRESS:

SWIFT CODE:

BANK OFFICER:

                       

BANK OFFICER TELEPHONE  : +       

BANK OFFICER FACSIMILE   : +       

BANK OFFICER EMAIL           :

SWIFT                                      :          

ACCOUNT NUMBER                :          

           

RECEIVING BANK:                

ACCOUNT HOLDER:   

ACCOUNT NUMBER :

ADDRESS:                           

SWIFT CODE:

BANK OFFICER NAME:                      

BANK OFFICER TELEPHONE:                        

BANK OFFICER FACSIMILE:

RELATED REFERENCE:          TRANSACTION CODE: XXXXXXXXXXXXXXXXXXX / :                                                                                                                   

WE ____________ BANK WITH ADDRESS AT _____________________________________, ACTING AT THE REQUEST OF ___________________, HEREBY CONFIRM WITH FULL BANK RESPONSIBILITY THAT WE ARE READY TO ISSUE A CASH-BACKED BANK GUARANTEE FORMAT 758 IN THE TOTAL AMOUNT OF EUROS __________ (€ _____________.00) ISSUED BY ___________ BANK IN BENEFICIAL FAVOUR OF ______________________ WITH A PERIOD OF ONE YEAR AND ONE DAY FROM THE DATE OF ISSUE, SAID BANK GUARANTEE IS FULLY UNCONDITIONAL ASSIGNABLE, DIVISIBLE AND TRANSFERABLE. 

WE ARE READY, WILLING AND ABLE TO DELIVER THE BANK GUARANTEE TO THE BENEFICIARY (_______________________) BY SWIFT MT760 INSTRUMENT. FURTHERMORE, WE HEREBY CONFIRM THAT WE SHALL DELIVER THE AMOUNT OF EUROS ______________ (€ _________.00) OF THE AFOREMENTIONED BANK GUARANTEE TO ________________________ AS BENEFICIAL OWNER, WITHIN THREE  (3) BANKING DAY VIA AUTHENTICATED SWIFT MT760 TO YOUR DESIGNATED BANK COORDINATES. 

THIS TRANSMISSION MAY BE VERIFIED AND AUTHENTICATED BANK TO BANK OR VIA AUTHENTICATED SWIFT.

FOR AND ON BEHALF OF _________BANK LOCATED AT  _____________________________.

BANK OFFICER #1                                                      BANK OFFICER #2

 TITLE / PIN CODE                                                      TITLE / PIN CODE

                                                                        MT199 VERBIAGES

 WE, (THE RECEIVING PARTY’S PAYING BANK) HEREBY PRESENT OUR IRREVOCABLE, NON-ASSIGNABLE, NON-TRANSFERABLE AND CALLABLE CASH-BACKED STANDING SWIFT (BANK UNDERTANKING PAYMENT GUARANTEE) WIRE TRANSFER IN YOUR FAVOUR FOR THE ACCOUNT OF [-----AND ACCOUNT NUMBER------------IN THE AMOUNT OF [--------------------------------------------------- CURRENCY AND AMOUNT IN WORDS AND FIGURES-----------------------------------------------] FOR THE RECEIVE OF BANK INSTRUMENTS DELIVERED BY SWIFT MT760 UPON THE RECEIPT,SATISFACTORY VERIFICATION OF REGISTRATION ISIN/ CUSIP NUMBERS AND THE CORRESPONDING CONTENTS WITH THE ISSUED,CALLABLE CUSTODIAL SAFEKEEPING RECEIPTS WITH PHYSICAL DELIVERY TO BE MADE THEREAFTER.

WE HEREBY CONFIRM THAT THE FUNDS ARE GOOD, CLEAN AND CLEARED FUNDS OF NON-CRIMINAL ORIGIN AND ARE FROM A LEGAL SOURCE.

THIS IRREVOCABLE S.W.I.F.T. IS A BINDING FULLY PERFORMED DUE BILL AND IS IMMEDIATELY CALLABLE ON US FOR CASH PAYMENT AGAINST THE BANK CERTIFIED INVOICE FOR THE RECEIVE AND ACCEPTANCE OF THE BANK INSTRUMENTS SPECIFIED BELOW:

INSTRUMENTS:(TO BE NAMED)

ISSUING BANKS: XXXXXXXXX BANK  

ISSUER:(TO BE NAMED)

CUSIP NUMBER: XXXXXX

TERM: ONE (1) YEAR AND ONE (1) DAY

INTEREST RATE: ZERO (0%) PERCENT

BENEFICIARY:(TO BE NAMED)

CONTENT: XXXXXXXXXXXXXXX

THIS CONDITIONAL IRREVOCABLE NON-DIVISIBLE, NON-ASSIGNABLE, NON-TRANSFERABLE AND CALLABLE S.W.I.F.T. WIRE TRANSFER IS VALID FOR FIFTEEN (15) BANKING DAYS FROM DD MMMMMM YYYY AND UNTIL DD MMMMMM YYYY, 17:00 GREENWICH MEANTIME (UK).

THIS IS A NON-OPERATIVE BANK INSTRUMENT AND IS SUBJECT TO THE UNIFORM COMMERCIAL CODE AS IT RELATES TO BANK CREDIT INSTRUMENTS.

FOR AND ON BEHALF OF THE ISSUING BANK:

SIGN AND SEAL BY TWO BANK OFFICER

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Proof of Funds (POF)

Proof of Funds

Leased Funds/Proof of Funds Program:

Through our strategic partnerships with several Top Institutions, we are pleased to offer the capability to establish a Proof of Funds (POF) cash account in your personal or company name for credit/financial enhancement purposes.

Minimum amount is EUR/USD 5M with MT799. Lease fees vary from 2-4% for a 90-day term, depending on amount size and institution. Lower amounts may  be considered but will not include MT799 capability.

Fees must first be escrowed and will be released ONLY upon the successful and confirmed creation of the account.

**Please note this account cannot be drawn from, leined against or pledged.

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PROCEDURE FOR BUY or SELL BG / SBLC

1.      SELLER  send Deed of Agreement to BUYER executes, sign an initial  the Deed of Agreement which thereby automatically becomes a full recourse commercial contract  BUYER’S send ’s passport  copy , Company’s resolution and Client’s Information Sheet (CIS).

2.      Within 2 days after both parties have executed this Agreement, SELLER will send bank form to BUYER , BUYER fill and send back within 24hrs

3.      Buyer, within three (3) international banking days, instruct his Bank to send SWIFT MT-199 of xx% of BG  to the Seller’s provided receiving bank coordinates, which copy will be also provided to Seller via e-mail for the verification and compliance.

4.      Within 2 banking days after confirmation and verification of receipt of  SWIFT MT-199, SELLER sends Swift MT760 to the bank`s platform for custody, deliver the BG/SBLC  and send invitation to BUYER for confirmation. 

5.      The buyer will meet with banker to open a custodian bank account at the platform to transfer funds for BG and accept BG (possible monetize BG if necessary) to transfer to his bank of choice.  The BG will be released if buyer will agree to buy BG via internal block funds through the bank`s platform   

5.      If  BUYER refuse to pay the SELLER, SELLER will instruct the Bank to stop process of acquisition and stop the further transfer of BG to the Buyer.

6.      Any unauthorized calls by any party or its representative lawyers to probes or communication in an improper way to bank(s) in this transaction shall be prohibited and contract terminated.

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Miss Anita Sokum (Marketing Manager)