#First Republic Bank Collapse

[mfi-miami]

First Republic Collapse Was Caused By Interest-Only Jumbo Loans

Generous Interest-Only Jumbo Loans To Super Wealthy Customers Is What Drove First Republic Over The Cliff It appears the First Republic collapse was caused by the bank giving out attractive multi-million dollar interest-only jumbo loans to wealthy clients. The failed bank sold loans with rock bottom interest rates to rich clients. Several of these clients included Goldman Sachs President John…

[nicklloydnow]

“Big banks including JPMorgan Chase & Co. and PNC Financial Services Group Inc. are vying to buy First Republic Bank in a deal that would follow a government seizure of the troubled lender, according to people familiar with the matter.

A seizure and sale of First Republic by the Federal Deposit Insurance Corp. could come as soon as this weekend, the people said.

The San Francisco-based bank has teetered for weeks following the March 10 failure of fellow Bay Area lender Silicon Valley Bank. The SVB meltdown spurred panicky First Republic customers to pull around $100 billion in deposits in a matter of days.

The stock has lost some 97% of its value since.

(…)

A seizure and sale of First Republic would cap the astonishing collapse of a lender that was, until recently, the envy of finance. With some $233 billion in assets at the end of the first quarter, it would be the second-largest bank to fail in U.S. history.”

“The Federal Deposit Insurance Corp. has asked banks including JPMorgan Chase & Co., PNC Financial Services Group Inc., US Bancorp and Bank of America Corp. to submit final bids for First Republic Bank by Sunday after gauging initial interest earlier in the week, according to people with knowledge of the matter.

The regulator reached out to banks late Thursday seeking indications of interest, including a proposed price and an estimated cost to the agency’s deposit insurance fund. Based on those submissions Friday, the regulator invited some firms to the next step in the bidding process, the people said, asking not to be named discussing the confidential talks.

(…)

JPMorgan is among a small number of giant banks that have already amassed more than 10% of nationwide deposits, making the firm ineligible under US regulations to acquire another deposit-taking institution. Authorities would have to make an exception to allow the country’s largest bank to get even bigger.”

[news-ld]

US bank First Republic collapses on Wall Street

Outdoors a First Republic bank department in New York on April 28, 2023. EDUARDO MUNOZ / REUTERS The dive by no means ends. The American regional bank First Republic continued to break down on Friday April 28 on Wall Street after a brief respite. Rumors a few technique or a rescue plan are multiplying with out materializing for the second. Newest: based on wall avenue journal, the American company chargeable for guaranteeing bank deposits, the FDIC, may take management of the bank this weekend after which promote its belongings to a different institution. JPMorgan Chase and PNC Monetary Providers are among the many firms , provides the enterprise each day, citing sources acquainted with the matter. The motion of First Republic ended down 43% on the New York Inventory Alternate on Friday, at 3.51 {dollars} (3.15 euros), after being suspended a number of instances through the session for extreme volatility. This values ​​it at $654 million, down from over $20 billion firstly of the yr and over $40 billion at its peak in November 2021. Learn additionally: Article reserved for our subscribers In the USA, the First Republic Bank is in flip on the brink Based in 1985, First Republic was, on the finish of 2022, the fourteenth largest bank within the nation by measurement of belongings. Primarily based in San Francisco, it has a community of companies primarily positioned in California and in city areas of the East Coast, which serve a rich clientele.

After the failures of Silicon Valley Bank and Signature Bank

Its destiny has been pending for the reason that shut failures of three American banks with related profiles originally of March, that's to say concentrated on a clientele and – or – a specific geographical space. The authorities and different monetary establishments quickly got here to its rescue to stop it from experiencing the identical destiny as Silicon Valley Bank and Signature Bank, particularly chapter after sudden large withdrawals from their prospects. Learn additionally: Article reserved for our subscribers The SVB and Credit score Suisse circumstances, illustration of flaws in banking regulation First Republic confirmed late Monday that a lot of its prospects withdrew deposits, greater than $100 billion in complete within the first quarter. She was in a position to depend on the 30 billion contributed by the opposite banks in her accounts, however that is inadequate within the eyes of traders, who plunged the motion on Tuesday and Wednesday earlier than giving her a break on Thursday. The administration introduced some measures on Monday night to strengthen the monetary well being of the bank. She additionally identified that she was finding out “strategic choices” however with out giving many particulars. Intervention of the authorities? Sale of the bank as an entire or of solely sure belongings? Established order, betting on an upcoming drop in rates of interest? Rumors abound since about potential options however with none official announcement. The situation of a takeover of the institution by the authorities earlier than the resale of the belongings at a decreased worth is without doubt one of the almost certainly. The authorities, nonetheless, could also be reluctant to avoid wasting a 3rd bank in a short while. Learn additionally: Article reserved for our subscribers Confidence, credit score: the banking disaster, a further threat for the financial system The World with AFP Source link Read the full article

[kaiandtran]

#36: Ruble Goldberg Machine

Panic! At the bank co.

[watchdogclue]

First Republic Bank to get $30 bn from Wall Street banks.

Global markets rebound after 11 US lenders rescued First Republic Bank. First Republic Bank (FRC) is set to receive a $30 billion lifeline from a group of 11 America’s largest banks, including JPMorgan Chase, Bank of America. Read more

[notayesmanseconomics]

What is the fallout from the failures of Silicon Valley Bank and Signature Bank.

We began the weekend with the US Federal Reserve on full alert to find out the extent of the current problems for the US banking system. There were elements of a bank run in play as there were some depositor queues and shares related to Silicon Valley Bank told a pounding, after trading in its shares was halted. Indeed we can start with an element of that became this on Friday. People lining up…

[adropofhumanity]

the 10 crises the world must not look away from:

1. SUDAN

24.8 million people in need of humanitarian aid. a still-escalating war brings sudan to the top of the watchlist. fighting has more than doubled humanitarian needs in less than a year and displaced 6.6 million people- bringing the country to the brink of collapse. more people are internally displaced within sudan than in any other country on earth. in darfur, human rights groups have reported mass killings and forced displacement along ethnic lines.

2. PALESTINE

3.1 million people in need of humanitarian aid (gaza and the west bank). gaza enters 2024 as the deadliest place for civilians in the world. i*****i airstrikes and fighting have had a direct and devastating impact on civilians that will continue to grow as hostilities persist into early 2024, at least. with more than 18,700 palestinians killed, 85% of the population displaced, and over 60% of gaza's housing units destroyed, people living in gaza will struggle to recover and rebuild their lives long after the fighting ends.

3. SOUTH SUDAN

9 million people in need of humanitarian aid. the war across the border in sudan threatens to undermine south sudan's fragile economy and could add to political tensions in the run-up to the country's first-ever elections. meanwhile, an economic crisis and increased flooding have impacted families' ability to put food on the table. a predicted fifth year of flooding could also damage livelihoods and drive displacement.

4. BURKINA FASO

6.3 million people in need of humanitarian aid. as the burkinabè military struggles to contain armed groups, violence is rapidly growing and spreading across the country. roughly 50% of the country is now outside government control.

5. MYANMAR

18.6 million people in need of humanitarian aid. the conflict in myanmar has spread significantly since the military retook political power in 2021. 18.6 million people in myanmar are now in need of humanitarian assistance - nearly 19 times more than before the military takeover. myanmar has seen decades of conflict, but in oct. 2023, three major armed groups resumed clashes with the government. over 335,000 people have been newly displaced since the latest escalation began.

7. MALI

6.2 million people in need of humanitarian aid. dual security and economic crises are driving up civilian harm and humanitarian needs. conflict between the military government and armed groups will likely escalate.

8. SOMALIA

6.9 million people in need of humanitarian aid. somalia faces heightened conflict and climate risks after a record drought. more recently, widespread flooding has displaced more than 700,000 people and will likely continue into early 2024.

9. NIGER

4.5 million people in need of humanitarian aid. a coup in july 2023 triggered massive instability that risks a rapid worsening of the ongoing humanitarian crisis in the country.

10. ETHIOPIA

20 million people in need of humanitarian aid. communities across the country are facing the twin threats of multiple conflicts and the likelihood of el niño-induced flooding. the nov. 2022 ceasefire between the government of ethiopia and the tigray people's liberation front (TPLF) continues to hold in northern ethiopia, but other conflicts, particularly in the central oromia region and in amhara in the northwest, are fueling humanitarian needs and raising the risk of a return to large-scale fighting.

11. DEMOCRATIC REPUBLIC OF CONGO

25.4 million people in need of humanitarian aid. weak state capacity has exposed many congolese to one of the world's most protracted crises, driven by conflict, economic pressures, climate shocks and persistent disease outbreaks. now, a resumed offensive by the M23 armed group is driving up conflict and humanitarian needs. the country enters 2024 with 25.4 million people in need of humanitarian assistance - more than any other country on earth. the magnitude of the crisis has strained services, created high levels of food insecurity and fueled the spread of disease.

— via my.linda__ on instagram

[atinylittlepain]

Your Creed, My Quest - Prologue

Din Djarin x jedi!reader/jedi!oc

series masterlist

She's been tasked by her master to watch over the child, but things become complicated when she picks up a rogue Mandalorian along the way.

series warnings | 18+ canon-typical violence, angst, eventual smut, like a moderately-paced burn lol

chapter warnings | 18+ canon-typical violence, angst

a/n | ahhh! i am so excited to share the first entry of the series with you. let me know if you'd like to be added to the taglist for this series and I will start it up with the first chapter. thank you for reading! alsoooo, props to the darling @toxic-seduction for sending me the idea for this scene which really started it all, love youuuuu

................................

She doesn’t like this one bit. When Mando had told her about the job, she had initially refused it outright. It sounded like a suicide mission to her, banking on a prison ship to free a man with a group of people they didn’t know, but he had assured her that Ran had good contacts, people they could trust, at least as long as it took to get the job done.

But now, as they’re stalking the halls of the prison ship, her mind is a swirl of anxiety all over again. All she can really think about is the kid they left on board with that damn droid, the kid who is her one mission. She had found the child nearly at the same time Mando had, and had aided him in freeing him on Nevarro, saving Mando’s life in the process as well.

While there aren’t words for what she is, not really, not anymore, she is a wielder of the force, and when her training is complete, she would call herself a Jedi, if such a title wasn’t so dangerous to hold these days. She had trained from a young age with a master, and she had given this task to her, to reunite the child with his own kind, and to keep him safe from those who wished him harm. And somehow, she managed to pick up a Mandalorian on the way.

They’ve already had a run-in with a prison guard, Xi’an quick to kill him, something that sent a prickle up her spine. It was the first thing her master taught her, to respect all life, and to choose peace over violence, always. These people certainly do not live by the same tenets. But she supposes things are a bit different now in this New Republic.

“Should be down this hall, let’s go.” She pulls up the rear of the group, Mando further ahead with Mayfield leading them all. It’s not her weapon of choice, a blaster rifle held in her hands, but she knows it’d be foolish to bring out her sabers, keeping them stowed behind a loose panel in her bunk on the Crest. 

Suddenly, Xi’an is letting out a high-pitched squeal, rushing over to one of the cells and pressing up against it. Mayfield quickly deactivates the lock, the door swinging open with a loud hiss, letting a twi’lek man step out as he hugs Xi’an in a tight embrace, murmuring that it’s so good to see his sister. She’s surprised when it appears that he recognizes Mando, a not altogether friendly grin spreading across his face.

“Mando, can’t say I’m happy to see you again.” It happens in a flash, the twi’lek man kicking Mando in the stomach, shoving him back into the cell and moving to slam the door closed. She moves before she can even think about it, stretching out her palm, willing the door to stop on its hinges. It halts, but she already knows she’s made a grave mistake revealing her powers. Not even Mando knew she could wield the Force. 

A harsh pain burns in her thigh, and she glances up to see Xi’an holding a dart gun aimed at her, a wicked grin across her face. Sure enough, a dart with a now empty vial is sticking out of her thigh, the room already starting to darken and tilt around her. The last thing she hears before collapsing to the floor are Mayfield’s words.

“Do you think Jedi heads are worth more if they’re pretty?”

…

He can’t quite believe what just happened. Getting double-crossed by Qin, he could have expected. But seeing her use the Force, something he had only heard of in myths, something he thinks he may have seen the kid do, has sent him reeling. He steadies himself as best he can, ears pricking to the sound of a prison droid coming down the hall. 

Getting out of the cell isn’t a problem, making quick work of the droid and using its key to free himself, but he knows he’s in a race against time to find them before they get to the Crest and strand him on this damn ship.

He hurries back to the control room, finding the group of raiders making their way through the halls on the surveillance footage. She’s still slung, unconscious, over Burg’s back. He has no idea what he’s doing, but he figures it’s all he’s got as he starts flipping switches on the control panel, sending the halls into darkness as doorways start to shut throughout the prison. The staticky surveillance screens show the group getting separated by one of the closing doors, Xi’an and Burg getting shut off from Qin and Mayfield. It’s a start, and now all he has to do is pick them off, one by one.

…

When she was little, she was given a sedative H4b injection before a tooth extraction to keep her asleep during the procedure. She woke up in the middle of the operation and had bit down so hard on the medic’s fingers that he needed stitches. It was one of the first signs of her sensitivity to the Force, her nervous system working just a bit differently than everyone else’s. So, it’s no surprise now that she’s waking up a whole lot sooner than would be anticipated with the kind of dart she was hit with. 

The world starts to come back to her in hazy patches of sound and light. She can hear what sounds like two men fighting, loud crashes and grunts a little ways away from where she’s slumped on the ground. Her vision comes back last, blurry blobs of movement that start to focus in until she realizes it’s Mando grappling with that Devaronian, Burg. Something foreign stirs in her chest at the sight of Mando getting thrown to the ground. 

It’s as if someone, or something, is whispering in her ear, directing her focus to the way the Devaronian is standing right in the doorframe, hulking over the struggling Mandalorian, and once again, she moves before she can even think about it, power running through her that is new in its speed and might as she whips the door closed on Burg with a twist of her palm, crushing him where he stands.

She doesn’t have much time to think about how different this power feels, not when a knife is whirring past her head where she’s still sitting on the ground. She jerks around to see Xi’an slinking down the hallway toward her, teeth bared in a hard cackle.

“Well, look who’s awake. Looks like your boyfriend is a bit indisposed at the moment. What say we have a little girl time?” She scurries up onto her feet as another knife comes hurling her way, grabbing her blaster as Xi’an runs toward her.

It’s a quick blur of jolting hand-to-hand combat. Twi’leks are notoriously squirrelly, but she has been trained for this, letting her instincts take over as they twist around each other, a tangle of blocked jabs and hard hits. Her mind becomes singular with the task to such an extent she doesn’t notice the door to the control room reopening, but Xi’an is quick to lob a knife Mando’s way, lodging deep in the sliver of unarmored skin over his shoulder. The twi’lek’s distraction costs her, though, as she grabs her, pressing her lips to her ear and whispering words that put her to sleep, slumping down onto the ground.

She finally looks up at Mando who is stilled in his place, his helmet tilting subtly as he looks between Xi’an’s unconscious form and her.

“You– you’re–” She cuts him off before he can finish that sentence, already turning and heading back to where they came in from.

“There’s no time for that right now. C’mon.” 

…

“If you and the kid are gonna keep traveling with me, I need to know what’s going on. All of it.” She sighs, eyes tracing the streaking patterns of lightspeed darting by outside the Crest’s windows. 

They had made it out, barely, taking Qin back to Ran’s station to complete the job while the others were left behind in a cell. Mando had thought fast, bringing along that alarm device, and as she watched Ran’s station get blown up by two New Republic fliers, exhaustion finally washed over her, the reality of just how much power she had used settling in and rendering her unconscious in the cockpit of the Crest. She was surprised when she woke up in her own bunk, the kid curled into her side and watching her with his impossibly large eyes. Mando must have carried her down to the hull while she slept. She still feels woozy, sapped, as she joins him again in the cockpit, and has to immediately sit down as he starts asking questions. She can feel his stare, even through his helmet.

“Are you– is the kid–” She huffs, picking the kid up from where he was grabbing at her pants and settling him on her lap, a contented coo sounding from him.

“Technically, I suppose we’d be called Padawans during a different time in this galaxy. But yes, we have both been trained up in the Force, though under different masters.” Having this conversation with someone behind a mask is unnerving, all he gives her is a small nod.

“Is this a part of your training then? Looking after him?” She shakes her head, glancing down at the kid who has slumped into sleep on her lap. 

“No. My training is as complete as it can be. This is my mission, a trial of sorts. If I succeed, my master will give me the title of Jedi. It is not how things once went for our kind, but it is the path I must walk in this new world. I vowed to bring this child to my master so he may continue his training with her, and to keep him safe so long as he is in my care.” Mando nods, resting his elbows over his knees as he leans closer to her.

“I will travel with you then. The child is as much my ward as he is yours. I will do what I can to keep you both safe.” She frowns at his solemn words, wrapping a comforting arm around the child who is fussing in his sleep.

“I wouldn’t blame you if you wish to part ways with us. It’s not safe to be our kind in this galaxy. And it’s certainly not safe to aid our kind either.” Mando straightens in his seat at that.

“You have saved my life, multiple times now. I am indebted to you and I am tied to this child by my creed. So long as you need my help, I will answer your call.” She can’t help the shiver that runs down her spine at his words, swallowing thickly and nodding, but her attention quickly shifts to the darkening fabric over the front of his one shoulder.

“You’re bleeding.” He jerks his head down to assess the damage, shrugging lightly.

“It’s nothing. I can cauterize it myself.” She feels that whisper again, a jolt running down through her fingers. She quietly picks up the child and tucks him into his bassinet, making sure he’s still sleeping before turning back to Mando.

“Come with me, I can fix that for you.” 

…

“I’ll give you a moment of privacy– please remove your armor and unbutton your flight suit.” He seems hesitant to heed her command, but he eventually nods as she turns around to face the wall of the hull. She can feel energy skittering up and down her spine, the anticipation of power being used only being heightened by the muffled sounds of Mando removing his armor. He finally clears his throat, and she turns around to find him bare chested, the top part of his flight suit shrugged off his broad arms and hanging loosely around his hips. But of course, his helmet is still on.

She moves quietly back toward him, eyes focused on the wound over his left shoulder, a deep gash smeared with blood. She brings her one palm to hold steady over his chest, her other hand coming to hover directly over the wound. His helmet is tilted down just slightly, she figures so he can study her as she closes her eyes and centers her energy toward the task. 

Everything falls away as she feels the power flowing through her, like magnets pushing and pulling her toward him. It’s over in a flash, and her knees start to buckle in the aftermath, Mando wrapping his arms around her to hold her flush to his chest so she doesn’t collapse. Her eyes squint open, darting to the now smooth expanse of skin over his shoulder where the wound once was. 

“Dank farrik. Are you alright?” His words are a bit breathless, clear wonder lacing his tone at what he just witnessed. She lets out a ragged sigh, still not quite able to hold herself up in his arms.

“I am– I just– need to sit down, I think.” He helps her over to his open bunk, sitting her down on the edge of his sleeping mat while he pulls over an old fuel tank to sit down on across from her.

“You didn’t have to do that– not when it obviously drains you so much.” She props her elbows on her knees, holding her chin up in her palms as she offers him a tired smile.

“It’s better than a cauterizer, though, isn’t it?” For the first time, she hears the Mandalorian laugh, a breathy chuckle as his helmet tilts at her.

“I suppose it is, thank you.” 

“My pleasure, Mando.” She can hear a sigh crackle through his helmet.

“If we’re going to do this, I’d like you to know my real name.” She perks up out of her exhaustion at that. She hadn’t been sure if names were another sacred part of Mandalorian culture, something that didn’t get shared just as they covered their faces. She understands that this means something, for him to tell this to her. He holds out his hand to her, for once uncovered from his usual gloves. She takes it in a firm shake, trying to ignore the energy that she feels once again rolling through her.

“I am Din Djarin, and I will travel with you and the child so long as you need me. I will not break my vow to you. This is the way.” 

[stephensmithuk]

The Sign of Four: The End of the Islander

Mediæval is an archaic spelling of medieval, using the æ letter that is rare in English, but far more common in Danish, Norwegian and Icelandic, for example.

Ceylon was the name used for what is now Sri Lanka until 1972, when that country (which become independent in 1948) become a Republic. Today, the name only really remains in the country for Ceylon tea, apparently for marketing reasons.

There has been a police force dedicated to the Thames since 1798, being founded as the privately funded Marine Police to tackle the high volume of cargo theft from ships there. Two years later, the government set up the Thames River Police to replace the successful force. The Metropolitan Police took it over in 1839 and made it the Thames Division, it now being called the Marine Policing Unit. Historically, they also did search and rescue, today done by the RNLI.

They had just acquired their first steam launches by 1888, historically relying on rowing boats that had proved inadequate in an 1878 two-ship collision that had killed 600 to 700 people.

Gravesend is on the south bank of the Thames, twenty-one miles from Charing Cross. It was the first port of entry into London for a long time, but the opening of Tilbury Docks on the other side of the river took much of its traffic. The pilot station for the Port of London remains there, along with a RNLI lifeboat station.

There was also a ferry from Gravesend to Tilbury until March 2024, when it stopped due to lack of funding from the 'bankrupt' Thurrock Council, despite being popular.

Pocahontas is also buried in Gravesend.

The Downs is a ship anchorage off the port of Deal in Kent; ships would - and still do - anchor there to protect themselves from strong southerly or westerly winds (as the coast blocked them) or if waiting for suitable winds to head elsewhere. Indeed, the port town grew up to deal (pun intended) with their needs during their says.

There would be six bridges east of Westminster Bridge on the Thames at this time; Tower Bridge, opened in 1886, would be the easternmost crossing point that a pedestrian or carriage could use at this point. The Thames Tunnel was by now a railway tunnel. Those to the east of that were reliant on ferries until 1897, when the western part of the Blackwall Tunnel opened, in a few years becoming the bottleneck it still is to this day.

St Paul's Cathedral, at 111m high, was the tallest building in London from 1710 until 1939 when Battersea Power Station was completed at two metres taller. . Today, there are still restrictions on building new skyscrapers in London to ensure the catherdal can still be viewed.

The Tower of London had been a tourist attraction since at least the Elizabethean period; it was getting over 500,000 visitors a year by the end of the century, but still retained some non-tourist uses.

The Pool of London is the bit of the river from London Bridge to Limehouse - it was the site of the original port until the Docklands were built to deal with massive overcrowding. The maritime industry here effectively collapsed along with the rest of the docks in the 1960s, but this area hasn't seen as much regeneration as parts further east.

The West India Docks were three large docks and associated buildings built at the beginning of the 19th century (1800 to 1802) to deal with trade to/from the British West Indies, to wit the sugar produced by the slave labour in the plantations there; Robert Milligan, its architect, was a slave trader who was unhappy about the delays and theft of his goods at the wharves, so wanted a more secure facility. Closed in 1980, it was converted into the Canary Wharf development, with the famous Underground station built in the former middle dock.

Now I have mistaken a Newfoundland dog for a coat-wearing homeless person in the dark myself - they are very big dogs. However, this has to be taken in the context of the rest of the description of Tonga.

Barking Level is where the River Roding enters the Thames. It is a largely industrial area today.

Plumstead Marshes were an area of low-lying soggy ground that was used by the Royal Arsenal (see "The Bruce-Partington Plans") as a testing range; no human inhabitants (since Roman times, when the water levels were lower) and the soft ground could absorb explosions better. They were drained in the 1960s and most of the area become the new community of Thamesmead; one of those "futuristic estates" that instead became crime-ridden due to bad planning and lack of amenities, which have not yet been fully corrected.

A slightly graphic (including a nasty facial/eye injury) discussion of the problems of recovering bodies from the Thames can be found in this February 2024 news article on the search for a chemical attacker's body: https://news.sky.com/story/the-traumatising-search-for-dead-bodies-in-the-thames-and-why-dozens-are-found-every-year-13071612

[blueiscoool]

The Rise and Fall of The Praetorian Guard

THE PRAETORIAN GUARD WERE AN ELITE UNIT WITHIN THE IMPERIAL ARMY, SERVING PRIMARILY AS PERSONAL PROTECTORS AND INTELLIGENCE OPERATIVES FOR THE ROMAN EMPERORS.

The roots of the guard can be found during the Roman Republic, when soldiers served as protectors for Roman generals and important figures, or as elite guards for military praetors.

High-ranked generals with imperium held public office by serving as a magistrate or promagistrate. They were assigned a civil servant, lictors, to serve as an attendant and bodyguard. Where no personal bodyguard was assigned, senior field officers safeguarded themselves with temporary bodyguard units of selected soldiers.

Around 40 BC, Octavian, who would later become Emperor Caesar Augustus, installed praetorians within the pomerium (a religious boundary around the city of Rome), the first example of troops being permanently garrisoned in Rome proper.

Members of the guard accompanied Augustus on active campaigns, protecting the civic administrations and rule of law. At camp, the cohors praetoria (a cohort of praetorians guarding the commander), were posted near the praetorium, the tent of the commander, which the guard is believed to be named after.

After the construction of Rome’s Praetorian camp known as the Castra Praetoria around 23 BC, their role extended to escorting the emperor and the members of the imperial family, and to serve as a policing force during times of riot.

According to the Roman historian and politician, Tacitus, the guard around this time numbered nine Praetorian cohorts (4500 men, the equivalent of a legion), however, an inscription from near the end of Augustus’s rule suggests that their numbers were briefly increased to twelve.

The Praetorian Guard, like all legionaries, shared similar insignia, mainly on their shields. Praetorian Guard shields included wings and thunderbolts, referring to Jupiter, and also uniquely included scorpions, stars and crescents.

The first military engagement of the Praetorian Guard took place during the mutinies of Pannonia and the mutinies of Germania. Drusus Julius Caesar, son of Tiberius, accompanied by two Praetorian cohorts, the Praetorian Cavalry, and Imperial German Bodyguards, suppressed the mutinies of Pannonia. Germanicus, later known as Germanicus Julius Caesar, led a force of legions and detachments of the Praetorian Guard in a two-year campaign in Germania against the uprising.

In the three centuries that followed, the guard influenced imperial politics by overthrowing emperors and proclaiming the successor. Members of the guard were also directly involved in the assassination of emperors, such as: Aurelian, Balbinus, Caligula, Caracalla, Commodus, Elagabalus, Galba, Pupienus, Pertinax, Philip II, and Probus.

In AD 305, Diocletian and Maximian abdicated, and the former Caesares, Constantius and Galerius became Augusti. Although two sons of emperors, Constantine I and Maxentius were eligible, they were passed over for a new tetrarchy, and Valerius Severus and Maximinus Daza were appointed Caesars.

Severus planned to disband the Praetorian Guard on the orders of Galerius, resulting in the guard giving their allegiance to Maxentius and proclaiming him emperor. By AD 312, Constantine I marched on Rome with a force of 40,000 soldiers to eliminate Maxentius, facing off against an army that encompassed the bulk of the Praetorian Guard garrisoned in Rome at the Battle of the Milvian Bridge on the River Tiber.

Contemporary accounts record Maxentius’s forces being pushed back against the river and retreating across the bridge. The weight of soldiers fleeing caused the bridge to collapse, stranding elements of the guard on the northern bank of the river who were either killed or taken prisoner.

Lucius Caecilius Firmianus, a Christian author and advisor to Constantine recorded the events: “The bridge in his rear was broken down. At sight of that the battle grew hotter. The hand of the Lord prevailed, and the forces of Maxentius were routed. He fled towards the broken bridge; but the multitude pressing on him, he was driven headlong into the Tiber [drowned].”

Maxentius’ body was fished out of the Tiber and decapitated, and his head was paraded through the streets of Rome. Supporters of Maxentius were eliminated and the Praetorian Guard and Imperial Horse Guard were disbanded. The remaining guard were sent in exile to the corners of the empire, and the Castra Praetoria was dismantled in a grand gesture that marked the end of the Praetorians.

[brookstonalmanac]

Events 4.27 (after 1970)

1974 – 109 people are killed in a plane crash near Pulkovo Airport. 1976 – Thirty-seven people are killed when American Airlines Flight 625 crashes at Cyril E. King Airport in Saint Thomas, U.S. Virgin Islands. 1978 – John Ehrlichman, a former aide to U.S. President Richard Nixon, is released from the Federal Correctional Institution, Safford, Arizona, after serving 18 months for Watergate-related crimes. 1978 – The Saur Revolution begins in Afghanistan, ending the following morning with the murder of Afghan President Mohammed Daoud Khan and the establishment of the Democratic Republic of Afghanistan. 1978 – Willow Island disaster: In the deadliest construction accident in United States history, 51 construction workers are killed when a cooling tower under construction collapses at the Pleasants Power Station in Willow Island, West Virginia. 1986 – The city of Pripyat and surrounding areas are evacuated due to Chernobyl disaster. 1987 – The U.S. Department of Justice bars Austrian President Kurt Waldheim (and his wife, Elisabeth, who had also been a Nazi) from entering the US, charging that he had aided in the deportations and executions of thousands of Jews and others as a German Army officer during World War II. 1989 – The April 27 demonstrations, student-led protests responding to the April 26 Editorial, during the Tiananmen Square protests of 1989. 1992 – The Federal Republic of Yugoslavia, comprising Serbia and Montenegro, is proclaimed. 1992 – Betty Boothroyd becomes the first woman to be elected Speaker of the British House of Commons in its 700-year history. 1992 – The Russian Federation and 12 other former Soviet republics become members of the International Monetary Fund and the World Bank. 1993 – Most of the Zambia national football team lose their lives in a plane crash off Libreville, Gabon en route to Dakar, Senegal to play a 1994 FIFA World Cup qualifying match against Senegal. 1994 – South African general election: The first democratic general election in South Africa, in which black citizens could vote. The Interim Constitution comes into force. 2005 – Airbus A380 aircraft has its maiden test flight. 2006 – Construction begins on the Freedom Tower (later renamed One World Trade Center) in New York City. 2007 – Estonian authorities remove the Bronze Soldier, a Soviet Red Army war memorial in Tallinn, amid political controversy with Russia. 2007 – Israeli archaeologists discover the tomb of Herod the Great south of Jerusalem. 2011 – The 2011 Super Outbreak devastates parts of the Southeastern United States, especially the states of Alabama, Mississippi, Georgia, and Tennessee. Two hundred five tornadoes touched down on April 27 alone, killing more than 300 and injuring hundreds more. 2012 – At least four explosions hit the Ukrainian city of Dnipropetrovsk with at least 27 people injured. 2018 – The Panmunjom Declaration is signed between North and South Korea, officially declaring their intentions to end the Korean conflict.

[cooganbegs-blog]

Proposed sale of business and assets

Thank you for your continuing support of TY.

In the aftermath of COVID, the Company raised a convertible note in May 2022 to fund the business to enter the US market. The intention was to demonstrate traction in the US growing season to support a Series B capital raise in late 2023.  

The planned raise did not prove possible and at the time the Company informed shareholders that the capital markets were very challenging, a situation made worse in the US with the collapse of Silicon Valley and First Republic Banks.

Investors remain risk averse and valuations are constrained. Investors are prioritising profitable companies rather than potential growth companies. The Yield which has material ongoing investment requirements to further develop its platform technology and operates in an industry where adoption has proved slow for a variety of reasons.

TY revenue growth has been adversely affected by the difficult weather conditions faced by the industry in Australia and New Zealand over the last couple of years and slower than expected traction in the US. La Nina caused widescale flooding across eastern Australia in 2022 which negatively affected specialty crop producers. In response to this, the Company made a decision to focus on the NZ market whilst Australia recovered, only to then have the entire Hawkes Bay area wiped out by a cyclone. The impact on growers and the community has been devastating. This resulted in key contracts under negotiation being put on hold while the industry focused on recovery.

As a result, the business has experienced difficulties  in achieving sales targets. In specialty crops the impact of inflation has also both depressed demand for their produce as well as driven up input costs.

In 2023 TY Board consulted major shareholders having failed in its attempts to raise capital. At the time the best option to enable the company to continue was to accept a further convertible note from YAM. Since that time the Company has made progress with its technology and has built a presence in the US market but revenue has not materialised at the expected rate.

The Board has been in active discussions with large Shareholders to determine at path forward in the current difficult circumstances. In addition, the Board sought advice from firms specialising in capital raising in both Australia and US on alternative options to finance the business, none of which proved successful.

Following discussions, the Board received an offer from YAM to acquire the assets of TY. Whilst the Board’s preferred approach was to sell the company and potentially enable shareholders to continue to maintain an interest in the business, YAM’s strategy is to acquire the assets and include TY technology in its global agriculture platform.

The Board commissioned Leadenhall to undertake an independent valuation of the business and Leadenhall valued the business between $17 – $30 million with a recommended range of $25 – $30 million.  The YAMoffer values the Company’s assets at $27M which is the higher end of the range and matches the cap in the 2023 Convertible Notes.

The Board retained Grant Thornton to conduct an analysis of the financial alternatives available and the conclusion was that the YAM offer was the best outcome for shareholders, creditors, employees and customers, compared to the alternative of placing the company into voluntary administration.

After due considerations by the Board of the options available to the Company, on 30th  April 2024 the Company signed a conditional Asset Purchase Agreement (Asset Purchase Agreement or APA) with entities associated with YAM (Purchasers), under which the Company agreed to sell to the Purchasers the business and assets of the Company (other than certain excluded assets which will be retained by the Company (Excluded Assets)), subject to certain conditions being satisfied (including obtaining the requisite shareholder approval) (Proposed Transaction).

A summary of the key terms of the Asset Purchase Agreement is set out in Attachment 1.

The purchase price payable by the Purchasers for the business and assets under the Proposed Transaction is A$27,000,000 (Purchase Price), which will be satisfied as follows:

* each of YAM (YAM Noteholders), accept the transfer of such business and assets to the Purchasers in satisfaction of YAM rights to receive a redemption payment under their convertible notes (this will be approximately A$23,975,509 as at 30 June 2024) (YAM Redemption Amount); and
 

* the remaining amount of the Purchase Price less the YAM Redemption Amount will be paid in cash to the Company at Completion.

Under the Proposed Transaction, on completion of the Asset Purchase Agreement (Completion) the Company will pay the other holders of Notes (i..e excluding the YAM Noteholders) (Minority Noteholders) a redemption payment equal to the principal plus interest on those Notes up to the proposed Completion date. The Company will then use the Excluded Assets, to cover certain remaining liabilities of the Company which are not assumed by the Purchasers as part of the Proposed Transaction (Excluded Liabilities). To the extent that the Excluded Assets are insufficient to cover the Excluded Liabilities and other post-Completion liabilities of the Company, the Purchasers have agreed to cover such liabilities up to an amount of A$1,000,000.

It is contemplated that shortly after Completion, the Company will be wound up by way of a members’ voluntary liquidation. We expect a small distribution to shareholders in accordance with the preference waterfall. This likely means only A3 shareholders will receive any return.

Having considered the current circumstances of the Company and the lack of other viable options in a difficult economic environment, the Directors are of the opinion that the Proposed Transaction is in the best interests of the Company as a whole as:

(a)  it would allow the business of the Company to continue to be operated under the ownership of the Purchasers;

(b)  under the APA, one of the Purchasers will agree to make offers of employment to substantially all of the employees of the Company;

(c)  as part of the Proposed Transaction, YAM will agree that the transfer of the business and assets to the Purchasers will be in full satisfaction of YAM rights to receive redemption payments that they would otherwise be entitled to upon Completion occurring, and YAM would waive any other right of payment under the Note Deed Polls;

(d)  the purchase price for the sale of the business and assets to the Purchasers have been negotiated on arm’s length terms and based on an independent valuation and the valuation cap;

(e)  the purchase price would include a payment of approximately $3 million by the Purchasers to the Company at Completion of the APA with an expected small distribution to shareholders;

(f)  following Completion, the Company would be able to be wound up in an orderly manner.

Following below is a summary of the key terms of the Asset Purchase Agreement.

Shareholder Approval Provided

Under the Shareholders Deed (clause 6.3.1), the Company must not effect, or authorise or approve, the sale, transfer or other disposition of all or substantially all of the Company's and its subsidiaries’ assets or intellectual property, taken as a whole, by means of any transaction or series of related transactions (except to a wholly-owned subsidiary of the Company), without the written approval of the holders of a minimum of 65% of the Series A3 Preference Shares on issue.

The assets proposed to be sold by the Company to YAM under the Asset Purchase Agreement comprise substantially all of the Company’s assets and intellectual property, taken as a whole.

Accordingly, the Company sought and received the approval of the holders of a minimum of 65% of the Series A3 Preference Shares on issue to the Proposed Transaction for the purpose of clause 6.3.1 of the Shareholders Deed. There is no other approval required from other shareholders for the Proposed Transaction.

Next steps

TY and YAM are working through the various conditions precedent to close the deal. We expect that will happen no later than the 30th June 2024. Once the assets are transferred TY will be wound up via a Members Voluntary Liquidation. You will be notified once Completion of the Proposed Transaction has occurred, and your approval (as required by the Corporations Act 2001 (Cth)) for the Members Voluntary Liquidation will be sought at that time.

(Names changed, you can never be too sure)

[herunswithscissors]

We should be concerned about the parallels between the Roman Empire and the American Empire.

Just FYI it is impossible to talk about Rome without focusing on it's politics, economics, and religion. Politics, economics, and religion are major movers and shakers of history. We need to talk about those things. We just need to learn how to talk about them without trying to argue each other into submission.

-The Roman Empire waged constant war to occupy or force "peace treaties" as much of the world outside of Rome as possible, creating a Roman military-industrial complex that supported Roman merchants.

-They did this while a republic-governed empire in the hundreds of years BCE and as an autocrat-governed empire in the hundreds of years in CE.

-The occupation of weak countries or "protection" provided to less-than-voluntary wealthy allies throughout the known world allowed the merchants of Rome to do business far more easily and they made bank.

-All roads lead to Rome because they built roads to quickly transport their troops and merchant goods between Rome and the occupied world

-The other reason for constant wars of expansion with permanent occupation/oppression was taxation on the poor, "unimportant", and invisible people of other nations who the Roman public didn't care about because rhetoric was mastered by the Roman elite. Plus they didn't have to see it and it lowered their taxes and paid for their aqueducts and cushy lifestyle so they didn't really question the rhetoric.

-This is why the story of Christmas starts with a census. Palestine was occupied by Rome and was being taxed to death (poverty causes death).

-Jesus was executed by Rome for teaching people in occupied Palestine a liberating theology of how to live with dignity under oppression and how to live a life of love within a religion without fundamentalism. He was murdered by the aristocracy and religious elite who whipped up the fundamentalists and got the Empire to do what it did to anyone who disrupted their status quo and/or taught poor people how to live with dignity under their oppression. There is so much there to unpack.

-The rich got really really rich and really really greedy. They used their power in the senate and connections with the aristocracy/emperors to get their businesses subsidized and tax burden shifted to the common folk of Rome.

-The military expansion also provided an infinite number of slaves and the Roman homeland transitioned into a slave-based economy

-As the economy became top-heavy, wages had to compete with slavery, and tax burdens shifted to lower classes, the common folk of Rome became poorer and poorer to the point most of them became day-laborers.

-All the land in/around Rome was privately owned. The poor rented rooms in tenement buildings or lived on the street. Without access to land, agriculture, or kitchens commoners became dependent on buying pre-made food and government bread handouts.

-As the economy collapsed for the middle and working class the rich kept the commoners distracted with sports and religion

-Around 300CE, when poverty was at a breaking point, the empire on the edge of collapse, the Empire nailed Jesus back onto the cross, "converted" and used their mastery of rhetoric to subvert the teachings of Jesus with cherry-picked religious writings like those of the Pharisee Paul who had been trying to shoehorn Jesus into his ultra-fundamentalist form of Judaism in the first few years after Jesus.

-The Roman aristocracy created a safe, atonement-focused theology all about sin and a cushy afterlife (and obedience), purged of Jesus' liberating theology focused on love and freedom. They called that Christianity.

-They used Empire-Christianity to unite their people to keep doing empire shit for a good while longer by exploiting the religious fervor of the commoners and using theocratic rule via the Empire's aristocratic church leadership.

-The tribal nations of Europe and Asia took advantage of the growing weakness to rebel and free themselves from occupation. They had fought the original occupation (see Vicingtorix) but now had a real chance with the Empire's governance focused on keeping their own people under control. This is where the various sackings of Rome occurred.

-Many of the warlords of Europe and eastern Asia thought the Empire's invented religion was a pretty good tool and adopted it as well. And made very effective use of it for the next 1500 years or so with their own brands of aristocracy, empire, and colonization.

-No major Christian reformation (even the Protestant one) ever rejected the basic premises of the Roman Empire's atonement theology or embraced the liberating teachings of Jesus in any meaningful way. (Anabaptists tried focusing on parts of the liberation, but got caught up in fundamentalism and still held onto atonement)

(BTW, Liberation theology was re-created/discovered by enslaved Africans and continues to be practiced by many of the world's oppressed including denominations of Black Christians and most Catholic South American Christians (alongside those still enslaved by the Empire-religion). It is being adopted more and more internationally, and here in the USA by "liberal" White Christians too. Of course the people with the empire-approved religion denounce it as heresy and persecute wherever they can.)

-Empire-Christianity was the religion of the founders of USA. And they used it as their spiritual fathers did. To conquer, oppress, enslave, and create a merchant-supporting military industrial complex that turns a good world into a hellscape for anyone not one of them. While we all shout FREEDOM! and wave the flag.

So here we are today with leftovers of the Roman Empire's religion in the hands of fundamentalists aligned with Aristocracy and Empire who run a military industrial complex and enforce cultural hegemony with decorative diversity. With an economy that is slave-based and top-heavy. (With all land/resources/food/medicine/communication privatized, we are all basically slaves- it's just some of us have more choice in who our masters will be and can negotiate the terms of our slavery. For the rest of us it's minimum wage and government slave subsides.)

The rest of us yearn for actual freedom and actual peace and actual reconciliation with all the neighbors our empire/religion has turned into our enemies.

[bloghrexach]

🧐 … oh, really? Really? Naw .... a hard NO!!

By: LaillaB, founder of 'Reclaim the Narrative', from LinkedIn ...

“1948 Creation of Israel

⚔️ 1948

6 months of civil war between zionist militias and Palestinian resistance when the mandate period in Palestine was ending, turned into a war after the establishment of Israel and the intervention of several Arab armies.

⚔️ Palestinian Fedayeen insurgency (1950’s)

Israeli occupation forces carried out reprisal operations in response to resistance and constant fedayeen incursions.

⚔️Suez Crisis (Oct 1956)

A military attack on Egypt by Britain, France, and Israel, beginning on 29 October 1956, with the intention to occupy the Sinai Peninsula and to take over the Suez Canal.

⚔️Six-Day War (1967)

Fought between Israel and Arab neighbours Egypt, Jordan, and Syria.

The territory held by Israel expanded significantly : The West Bank (including East Jerusalem) from Jordan, Golan Heights from Syria, Sinai and Gaza from Egypt. Taking land by force is illegal under international law.

⚔️War of Attrition (1967–1970)

Fought between Israel and forces of the Egyptian Republic, the USSR, Jordan, Syria, and the Palestine Liberation Organization from 1967 to 1970.

It was initiated by the Egyptians as a way of recapturing the Sinai from the Israelis.

⚔️Yom Kippur War (Oct 1973)

Fought from 6 to 26 Oct by a coalition of Arab states led by Egypt and Syria against Israel as a way of recapturing part of the territories stolen by Israel.

⚔️South Lebanon (1971)

In 1978, Israel launches Operation Litani – the first Israeli large-scale invasion of Lebanon, in order to expel PLO forces from the territory.

The war resulted in the creation of an Israeli “Security” Zone in southern Lebanon.

⚔️South Lebanon (1985–2000)

Nearly 15 years of warfare between the Israel occupation Forces and Hezbollah.

⚔️First Intifada (1987–1993)

First large-scale Palestinian uprising against Israel in the West Bank and the Gaza Strip.

⚔️Second Intifada (2000–2005)

Second Palestinian uprising, a period of intensified resistance.

⚔️2006 Lebanon War (2006)

Started on 12 July 2006 and continued until a United Nations-brokered ceasefire went into effect on 14 August 2006.

⚔️Gaza War or Operation Cast Lead (2008)

Three-week armed conflict between the occupier and colonised.

⚔️2012 Operation Pillar of Defense (Nov 2012). Israeli aggression on the Gaza Strip.

⚔️2014 Operation Protective Edge (July2014) Military offensive on the Gaza Strip as a response to the collapse of American-sponsored peace talks.

⚔️ Israel conflict with Iran during the Syrian civil war.

⚔️2021 Israel Operation Guardian of the Walls (May 2021) Riots between zionists and Palestinians in Israel cities.

⚔️Operation Swords of Iron

Israel Genocide Gaza (2023 - ?)

Attack Sovereign Embassy, Tehran, Iran (2024)

Lebanon, Yemen …

“The last thing Israel is seeking, since it’s creation, is to go to war” Herzog, President.

#reclaimthenarrative — 🕊🍉 —#FreePalestine

@hrexach

[starwarsweaponssystems]

A guide to galactic ships: TIE fighter

Due to recent supply chain issues and the destruction of the first Death Star,

and the second Death Star,

along with the destruction of Alderaan,

buying a ship isn’t nearly as easy and as cheap as it used to be. Heck, back in my day, you used to be able to get a Z-95 Headhunter for well under the MSRP’s sticker price and the dealer would still throw in an extra deflector shield and some proton torpedoes to sweeten the deal. I actually fondly remember the government used to have a scheme called “Credits for Junkers” which paid people to actually trade in their old rocket propulsion starships for the new and more clean and environmentally friendly ion-engine-powered starships. So now most of us aren’t thinking about buying our dream starship, we’re being more careful and pragmatic without economic choices. In economic times like this, it’s all about finding a good economical starship that has good resale value. This way when you decide to sell or upgrade your starfighter, you can minimize your loss. So we’ll be taking a look at the TIE fighter.

You guys know that I would never take a standard TIE into a dogfight. I hate the solar panel design that gives you massive blindspots, the lack of shields, hyperdrive, and heck, there isn’t even life support on this thing. But when it comes to resale value, it’s not always about performance, instead, you have to look at the market and what individuals are willing to buy and the TIE fighter has a lot of really good features that might attract your more budget buyers You see, TIE fighters are relatively cheap, to begin with at around 60,000 credits each and at around 25,000 credits used so they won’t really break the bank when you purchase one. There are some reasons why the TIE fighter is an extremely smart buy from a resale point of view. First of all, it was one of the mass-produced starfighters in galactic history.

While other starfighters focus more on performance and features, the designers of the TIE fighter first focused on the manufacturing process and how to build things cheaply. The TIE fighter is an engineering marvel, it has no moving parts and it has a very low maintenance cost. The point is the TIE fighter was extremely reliable and well-built. Sure it was fragile even when compared to an A-wing, but you could still keep a TIE fighter running even decades after the empire collapsed and they stopped manufacturing parts for them. When the New Republic arose, so did a new market for old TIE fighters. You see, you had the centrist faction in the government, they basically supported stronger feral control over the galaxy and they have a really unhealthy nostalgia for Imperial memorabilia so a full-on TIE fighter would fetch you top dollar. So remember guys, resale is all about demand, and with this in mind, I’m sure you’ll be rich in no time.