Tag: trade

The Role of Jewish Financiers Within Venice, Italy During the Renaissance and the Reason Christians Became Capable of Charging Interest Upon Loans

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During the Renaissance, Jews were tolerated in Venice, Italy because they could provide an invaluable service which Christian financiers and merchants were forbidden to do which was to charge interest upon a loan, a concept referred to as “usury”, derived from the Latin term “usura” which means “use” or “interest”. Christians considered charging interest to be a sin and therefore could not partake in this economic exchange. Unfortunately, the Catholic Church’s Medieval laws against usury acted as a major obstacle for the development of finance within Europe during this period. Jews were not technically permitted to lend capital with interest, but those who did relied upon a convenient clause found within the 23rd chapter of Deuteronomy of the Christian Bible which states that lending to a brother at interest was forbidden but that a stranger was a different matter all together. These Jewish lenders interpreted this scripture as a means to provide the ability to lend to Christians, as Christian’s were not considered brothers of the Jews in a religious context during this period, but they would still not be capable of lending finance to other fellow Jews, as these members of society were viewed as brothers regardless of familial ties. Eventually Christian’s were able to circumvent the prohibition of charging interest, primarily because of Giovanni di Bicci de’ Medici, one of the wealthiest entrepreneurs within Italy during the Renaissance. Medici was able to evade Christian usury legislation as Jewish bankers did because of a clever device of trade which made profit upon exchanging multiple currencies rather than interest rates alone. No “interest” paid to Medici meant no sin had been committed. Medici’s business model took a small commission for each currency conversion rendered, with the size of the loan directly impacting the commission of the person who lent it

The Influence of Genghis Khan Throughout Asia and Europe During the 13th Century

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Mongolian Khagan, which means “Khan Of Khans” or “king of kings” within Mongol Khel, the Mongolian language, perhaps more commonly translated as “emperor”, Temüjin Borjigi who is more well renowned for his title than his name, a title which is often mistaken for his name, Genghis Khan (pronounced “jeng-giss” with “jeng” sounding like “Jenga” and “giss” sounding like “kiss” with a hard “s”) killed over 40,000,000 (40 million) people during his reign as the Mongolia Khagan. This staggering death toll was the result of widespread military campaigns launched across Asia and Eastern Europe, in which entire cities were systematically destroyed. These conquests led to the formation of the Mongol Empire, the largest contiguous land empire in history. Borjigi’s various strategies (e.g. psychological warfare, mass executions, scorched Earth tactic for villages encountered etc.) helped reshape the geopolitical landscape of the east and west during the 13th century, turning Mongolia into the centralized power of the period. Despite this brutality, Borjigi’s legacy also included positive benefits (e.g. advancements in trade, advancements in communication, advancements in governance etc.), systems which went on to direct future empires. Borjigi’s advancements included the promotion of the Silk Road trade network, the creation of a postal relay system reaching across vast distances of territory, and the implementation of merit based leadership over blood ties, ideas which fostered connectivity and administrative efficiency throughout the empire. Additionally, Borjigi unified multiple warring tribes and enforced legislation which highlighted and punished corruption when exposed. Borjigi’s empire was not solely predicated upon conquest however, as his ideas also helped maintain control, structure, and cohesion within its vision for a constantly expanding empire, something extremely difficult to successfully accomplish. The way the Borjigin dynasty governed, most especially its methods of organizing logistics, enforcing legislation, and leading people, continues to echo within the frameworks of modern governments during the modern day via foundational principles which continue to shape how states manage infrastructure, enforce law and order, and mobilize populations. From the codification of legal frameworks to the strategic coordination of supply chains and communication networks, the Borjigin dynasty laid legacy groundwork capable of transcending its period of use and relevance. Because of this, Borjigin not only drew up and rearranged world borders, he changed how empires think and act as they expand outward

The Etymology of “Curry Powder”

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The term “kaṟi”, referred to during the modern day as “curry”, is described within a mid 17th century Portuguese cookbook entitled the “East Indian Cookery Book” which was written by members of the British East India Company who traded with Tamil merchants along the Coromandel Coast of southeast India. Curry powder is referred to as such because one of the spice blends in the book which contains 2 or more spices is referred to as “kari podi” which has been Romanized to read as “curry powder”

The Reason Financial Investment Platform Robinhood Halted the Ability to Trade GameStop Stock in 2021

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On January 28, 2021, soon after the opening bell, Robinhood and several other major trading platforms announced the suspension of the ability to purchase GameStop stock, delivering a devastating blow to the WallStreetBets subreddit community which had been helping to elevate the stocks price point by locking out new investors and causing the stock price to tumble dramatically. The rationale for this decision was that extreme volatility could create unforeseen economic problems in the future (e.g. unsustainable economic bubble etc.) but many retail investors viewed this outcome as professional investors leveraging their authority with the U.S. government and the financial industry to stop the public from continuing to financially annihilate large, established trading firms. In addition to the official reason provided, retail trading platforms are not designed to handle the torrent of transactions related to events like the ascendancy of GameStop which played a factor in why Robinhood and other platforms succame to the pressure to halt all future trading of GameStop stock. Robinhood claimed that the company did not have the liquidity on hand to cover the trades and gains being made. Unsurprisingly, the price of GameStop stock rapidly declined, devastating retail investors and highlighting the fact that the investment market is rigged toward the wealthy and powerful perhaps having a distinct advantage over their counterparts. Experts argue that this intervention unnaturally drove the price point of GameStop stock down, acting to reverse the effects of community based organization and investment. It was the clearing houses however that truly forced Robinhood and other trading platforms into capitulating. When a stock is purchased or sold, the transaction does not settle and finalize until 2 business days after the transaction time stamp, something which is unbeknownst to many investors. During this 2 business day period, due to regulation, brokerages and clearing firms are not permitted to use customer capital to fund the collateral use of those 2 business days, therefore being legally required to leverage the firms own capital. Robinhood argued that it did not possess the corporate capital required to facilitate the enormous volume of GameStop stock trades. It should be noted, Robinhood has repeatedly denied that it was under pressure from hedge fund executives, financial organizations, and the professional financial industry as a whole to stop the short squeeze occurring for those who chose to short sell GameStop stock

The Reason Behind the Anglo-Burmese War

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The annexation of Burma, which is modern day Myanmar, by England, occurred in 1885. The conquering and colonization of Burma was a long and drawn out process involving 3 wars in 1824 – 1826, 1852, and finally 1885, each a pivotal part of the Anglo-Burmese War. After successfully dominating Burma, the British made the decision to annex all of Upper Burma as a colony and to make the country as a whole, a province of British India. During the 19th century, Burma was a matriarchal society and the majority of commerce was run and ruled by Burmese women, a society which was notorious in the west for shrewd business practices. Burma was during this period a matriarchal society, and it is believed that this is due in large part to the fact that the country as a whole was primarily Buddhist and Buddhist cultures tend to hold women in higher regard than other parts of the world. The conflict between the British and the Burmese erupted because of trade, as the British wanted the absolute shortest route to China which involved crossing through Burma to avoid the Bay of Bengal

The Original Intent of Commerce Juggernaut eBay

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eBay was created because of a husbands desire to give his partner a way to barter and trade in Pez dispensers, which was the main hobby or perhaps passion is a more fitting term, for Pamela Kerr, the wife of eBay creator Pierre Omidyar

Chinese Desire For Ivory and the Devastating Effect This Has Thrust Upon Africa

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China is one of the only countries in which recently acquired ivory can be sold legally, and because it is in such high demand, China’s insatiable thirst for ivory is devastating elephant populations around the world. 80% of the Chinese middle class own one or more pieces of ivory and 84% of those people intend to purchase more in the future. Trade between Africa and China between 2003 and 2013 has jumped from $6,000,000,000 ($6 billion) to over $100,000,000,000 ($100 billion). China has been investing in Africa, building roads and shipping ports as a way to streamline the trading process. Some of the most popular goods traded include turtles which are eaten, shark fins which are also ingested, rhinoceros horn which is ground up and consumed, and elephant ivory which is carved into decorations. 60,000 shipping containers enter Chinese ports each day, with less than 1% being searched, making Chinese ports a smugglers paradise. Only 16% of ivory sold in China is legally traded and can be verified to have been sourced from legally acquired sources. Kenya has achieved success with elephant protection due to private philanthropy which funds the ability to patrol Kenyan parks via helicopter and land vehicles with armed security personnel, trained guards who have been authorized to shoot to kill when poachers have been identified actively poaching or attempting to poach

The Insatiable Demand for Chinese Silk and Illegally Exporting Silk into Europe

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Historically recorded Chinese accounts by monastic Chinese scholars state that a handful of monks sent to China by the Roman emperor Justinian, smuggled silkworms out of China within the hollowed out shoots of bamboo canes and brought this cargo to Constantinople which is modern day Istanbul, Turkey so that the silk textile trade could be exported from China for the first time in recorded history. For over 2000 years Constantinople was considered the crossroads of the world, the nexus at which the west and east converged. Silk soon took off as one of the most in demand and profitable industries within Istanbul’s long and fascinating history. It should be noted that these accounts are thought by many scholars to be a work of fiction