The burrowing owl is a small, long-legged owl found throughout open landscapes of North and South America. Burrowing owls can be found in grasslands, agricultural areas, deserts, or any other open dry area with low vegetation, they roost in burrows, such as those excavated by prairie dogs. Unlike most owls, burrowing owls are active during the day, although they tend to avoid the midday heat. Like many other kinds of owls, burrowing owls do most of their hunting from dusk until dawn, when they can use their night vision and hearing to their advantage. Living in open grasslands as opposed to forests, the burrowing owl has developed longer legs that enable it to sprint, as well as fly, when hunting. Burrowing owls have bright eyes, they have a flattened facial disc. The owls have prominent white eyebrows and a white "chin" patch which they expand and display during certain behaviors, such as a bobbing of the head when agitated. Adults have brown wings with white spotting; the chest and abdomen are white with variable brown spotting or barring depending on the subspecies.
Juvenile owls are similar in appearance, but they lack most of the white spotting above and brown barring below. The juveniles have a buff bar across the upper wing and their breast may be buff-colored rather than white. Burrowing owls of all ages have grayish legs longer than those of other owls. Males and females are similar in size and appearance, display little sexual dimorphism. Females tend to be heavier. Adult males appear lighter in color than females because they spend more time outside the burrow during daylight, their feathers become "sun-bleached"; the burrowing owl measures 19–28 cm long and spans 50.8–61 cm across the wings, weighs 140–240 g. As a size comparison, an average adult is larger than an American robin; the burrowing owl is sometimes classified in the monotypic genus Speotyto based on an overall different morphology and karyotype. However, osteology and DNA sequence data suggest that the burrowing owl is a terrestrial member of the Athene little owls, it is today placed in that genus by most authorities.
A considerable number of subspecies have been described, but they differ little in appearance and the taxonomy of several need to be validated. Most subspecies are found in/near the Andes and in the Antilles. Although distinct from each other, the relationship of the Florida subspecies to the Caribbean birds is not quite clear. A. c. cunicularia: Southern burrowing owl – Lowlands of S Bolivia and S Brazil south to Tierra del Fuego. Includes partridgei. A. c. grallaria: Brazilian burrowing owl – Central and E Brazil. A. c. hypugaea: Western burrowing owl – S Canada through the Great Plains south to Central America. A. c. floridana: Florida burrowing owl – Florida and the Bahamas. A. c. guadeloupensis: Guadeloupe burrowing owl – Formerly Guadeloupe and Marie-Galante Islands. A. c. amaura: Antiguan burrowing owl – Formerly Antigua, Saint Kitts and Nevis Islands. A. c. troglodytes: Hispaniolan burrowing owl – Hispaniola, Gonâve Island and Beata Island. A. c. rostrata: Revillagigedo burrowing owl – Isla Clarión, Revillagigedo Islands.
A. c. nanodes: Southwest Peruvian burrowing owl – SW Peru. Might include intermedia. A. c. brachyptera: Margarita Island burrowing owl – Isla Margarita. Might include apurensis. A. c. tolimae: West Colombian burrowing owl – W Colombia. Might include carrikeri. A. c. juninensis: South Andean burrowing owl – Andes from Central Peru to NW Argentina. Might include punensis. A. c. punensis: Puna burrowing owl – Altiplano region around Peruvian-Ecuadorian border. Doubtfully distinct from juninensis. A. c. arubensis: Aruba burrowing owl – Aruba. A. c. intermedia: West Peruvian burrowing owl – W Peru. Doubtfully distinct from nanodes. A. c. minor: Guyanan burrowing owl -- Roraima region. A. c. carrikeri: East Colombian burrowing owl – E Colombia. Doubtfully distinct from tolimae. A. c. pichinchae: West Ecuadorean burrowing owl – W Ecuador. A. c. boliviana: Bolivian burrowing owl – Bolivian altiplano. A. c. apurensis: Venezuelan burrowing owl – NW Venezuela. Doubtfully distinct from brachyptera. A. c. partridgei: Corrientes burrowing owl – Corrientes Province, Argentina.
Not distinct from cunicularia. A. c. guantanamensis: Cuban burrowing owl -- Isla de la Juventud. A paleosubspecies, A. c. providentiae, has been described from fossil remains from the Pleistocene of the Bahamas. How these birds relate to the extant A. c. floridana – that is, whether they were among the ancestors of that subspecies, or whether they represented a more distant lineage that disappeared – is unknown. In addition, prehistoric fossils of similar owls have been recovered from many islands in the Caribbean; these birds became extinct towards the end of the Pleistocene because of ecological and sea level changes at the end of the last Ice Age rather than human activity. These fossil owls differed in size from present-day burrowing owls and their relationship to the modern taxon has not been res
A central bank, reserve bank, or monetary authority is the institution that manages the currency, money supply, interest rates of a state or formal monetary union, oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, generally controls the printing/coining of the national currency, which serves as the state's legal tender. A central bank acts as a lender of last resort to the banking sector during times of financial crisis. Most central banks have supervisory and regulatory powers to ensure the solvency of member institutions, to prevent bank runs, to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Functions of a central bank may include: implementing monetary policies. Setting the official interest rate – used to manage both inflation and the country's exchange rate – and ensuring that this rate takes effect via a variety of policy mechanisms controlling the nation's entire money supply the Government's banker and the bankers' bank managing the country's foreign exchange and gold reserves and the Government bonds regulating and supervising the banking industry Central banks implement a country's chosen monetary policy.
At the most basic level, monetary policy involves establishing what form of currency the country may have, whether a fiat currency, gold-backed currency, currency board or a currency union. When a country has its own national currency, this involves the issue of some form of standardized currency, a form of promissory note: a promise to exchange the note for "money" under certain circumstances; this was a promise to exchange the money for precious metals in some fixed amount. Now, when many currencies are fiat money, the "promise to pay" consists of the promise to accept that currency to pay for taxes. A central bank may use another country's currency either directly in a currency union, or indirectly on a currency board. In the latter case, exemplified by the Bulgarian National Bank, Hong Kong and Latvia, the local currency is backed at a fixed rate by the central bank's holdings of a foreign currency. Similar to commercial banks, central banks incur liabilities. Central banks create money by issuing interest-free currency notes and selling them to the public in exchange for interest-bearing assets such as government bonds.
When a central bank wishes to purchase more bonds than their respective national governments make available, they may purchase private bonds or assets denominated in foreign currencies. The European Central Bank remits its interest income to the central banks of the member countries of the European Union; the US Federal Reserve remits all its profits to the U. S. Treasury; this income, derived from the power to issue currency, is referred to as seigniorage, belongs to the national government. The state-sanctioned power to create currency is called the Right of Issuance. Throughout history there have been disagreements over this power, since whoever controls the creation of currency controls the seigniorage income; the expression "monetary policy" may refer more narrowly to the interest-rate targets and other active measures undertaken by the monetary authority. Frictional unemployment is the time period between jobs when a worker is searching for, or transitioning from one job to another. Unemployment beyond frictional unemployment is classified as unintended unemployment.
For example, structural unemployment is a form of unemployment resulting from a mismatch between demand in the labour market and the skills and locations of the workers seeking employment. Macroeconomic policy aims to reduce unintended unemployment. Keynes labeled any jobs that would be created by a rise in wage-goods as involuntary unemployment: Men are involuntarily unemployed if, in the event of a small rise in the price of wage-goods to the money-wage, both the aggregate supply of labour willing to work for the current money-wage and the aggregate demand for it at that wage would be greater than the existing volume of employment.—John Maynard Keynes, The General Theory of Employment and Money p11 Inflation is defined either as the devaluation of a currency or equivalently the rise of prices relative to a currency. Since inflation lowers real wages, Keynesians view inflation as the solution to involuntary unemployment. However, "unanticipated" inflation leads to lender losses as the real interest rate will be lower than expected.
Thus, Keynesian monetary policy aims for a steady rate of inflation. A publication from the Austrian School, The Case Against the Fed, argues that the efforts of the central banks to control inflation have been counterproductive. Economic growth can be enhanced by investment such as more or better machinery. A low interest rate implies that firms can borrow money to invest in their capital stock and pay less interest for it. Lowering the interest is therefore considered to encourage economic growth and is used to alleviate times of low economic growth. On the other hand, raising the interest rate is used in times of high economic growth as a contra-cyclical device to keep the economy from overheating and avoid market bubbles. Further goals of monetary policy are stability of interest rates, of the financial market, of the foreign exchange market. Goals cannot be separated fr
Kingdom of the Netherlands
The Kingdom of the Netherlands known as the Netherlands, is a sovereign state and constitutional monarchy with the large majority of its territory in Western Europe and with several small island territories in the Caribbean Sea, in the West Indies islands. The four parts of the kingdom—the Netherlands, Curaçao and Sint Maarten—are constituent countries and participate on a basis of equality as partners in the kingdom. In practice, most of the kingdom's affairs are administered by the Netherlands—which comprises 98% of the kingdom's land area and population—on behalf of the entire kingdom; the Caribbean Sea islands countries of Aruba, Curaçao, Sint Maarten are dependent on the Netherlands for matters like foreign policy and defence, although they are autonomous to a certain degree, with their own parliaments. The vast majority in land area of the constituent country of the Netherlands is located in Europe, with the exception of the Caribbean Netherlands: its three special municipalities are located in the Caribbean Sea like the other three constituent countries.
The Kingdom of the Netherlands originated in the aftermath of French Emperor Napoleon I's defeat in 1815. In the year 1815, the Netherlands regained its independence from France under its First French Empire, which had annexed its northern neighbor in 1810, as the Sovereign Principality of the United Netherlands; the great powers of Europe, united against Napoleonic France, had decided in the secret treaty of the London Protocol to establish a single state in the territories that were the Dutch Republic/Batavian Republic/Kingdom of Holland, the Austrian Netherlands and the Prince-Bishopric of Liège, awarding rule over this to William, Prince of Orange and Nassau, although the southern territories remained under Prussian rule until Napoleon's return from his first exile on Elba. In March 1815, amidst the turmoil of the Hundred Days, the Sovereign Prince William of Orange and Nassau adopted the style of "King of the Netherlands". Following Napoleon's second defeat at the Battle of Waterloo in June 1815, the Vienna Congress supplied international recognition of William's unilateral move.
The new King of the Netherlands was made Grand Duke of Luxembourg, a part of the Kingdom that was, at the same time, a member state of the German Confederation. In 1830, Belgium seceded from the Kingdom, a step, recognised by the Netherlands only in 1839. At that point, Luxembourg became a independent country in a personal union with the Netherlands. Luxembourg lost more than half of its territory to Belgium. To compensate the German Confederation for that loss, the remainder of the Dutch province of Limburg received the same status that Luxembourg had enjoyed before, as a Dutch province that at the same time formed a Duchy of the German Confederation; that status was reversed when the German Confederation ceased to exist in 1867, replaced by the Prussian-led North German Confederation until the proclamation of a unified German Empire in 1871. The origin of the administrative reform of 1954 was the 1931 Statute of Westminster and the 1941 Atlantic Charter, signed by the Netherlands on 1 January 1942.
Changes were proposed in the 7 December 1942 radio speech by Queen Wilhelmina. In this speech, the Queen, on behalf of the Dutch government in exile in London, expressed a desire to review the relations between the Netherlands and its colonies after the end of the war. After liberation, the government would call a conference to agree on a settlement in which the overseas territories could participate in the administration of the Kingdom on the basis of equality; this speech had propaganda purposes. After Indonesia became independent, a federal construction was considered too heavy, as the economies of Suriname and the Netherlands Antilles were insignificant compared to that of the Netherlands. By the Charter for the Kingdom of the Netherlands, as enacted in 1954, a composite state was created known as the "Tripartite Kingdom of the Netherlands", consisting of the Netherlands and the Netherlands Antilles. Under the provisions of the Charter, both former colonies were granted internal autonomy.
Suriname and the Netherlands Antilles each got a Minister Plenipotentiary based in the Netherlands, who had the right to participate in Dutch cabinet meetings when it discussed affairs that applied to the Kingdom as a whole, when these affairs pertained directly to Suriname or the Netherlands Antilles. Delegates of Suriname and the Netherlands Antilles could participate in sessions of the First and Second Chamber of the States General. An overseas member could be added to the Council of State when appropriate. According to the Charter and the Netherlands Antilles were allowed to alter their "Basic Law"s; the right of the two autonomous countries to leave the Kingdom, was not recognised. Before the Charter for the Kingdom of the Netherlands was proclaimed in 1954, Netherlands New Guinea, the Netherlands Antilles "Colony of Curaçao and subordinates" (Kolonie Cu
The gulden was the currency of the Free City of Danzig between 1923 and 1939. It was divided into 100 pfennige; until 1923, Danzig used the German papiermark and issued several local'emergency notes'. Inflation during 1922–23 averaged 2440% per month. In July 1923 it was announced that a new and independent currency was being established with the approval of the League of Nations finance committee to replace the German mark; the gulden was introduced at a value of 25 gulden = 1 pound sterling. Danzig was annexed by Nazi Germany on 1 September 1939, the day the invasion of Poland had begun On the same day reichsmark coins and notes were declared legal tender alongside the Danzig gulden, with 1 gulden being equal to 0.70 reichsmark. This was a favourable exchange rate for inhabitants of Danzig, since the actual exchange rate was around 0.47 reichsmark per gulden. To prevent abuse on 7 September the import of gulden coins and notes into the territory of the former free city was prohibited. Bank assets were however converted at the market rate of 0.47 reichsmark per gulden.
With effect on 7 September 1939, coins of 1 and 2 pfennige became legal tender throughout Nazi Germany as 1 and 2 reichspfennige, would remain in circulation until November 1940. On 30 September the reichsmark became the sole currency on the territory of the former free city. Notes and coins of 5 and 10 gulden were withdrawn that day and could be exchanged for reichsmarks until 15 October. Coins of 5 and 10 pfennig and 1⁄2 and 1 gulden remained in circulation until 25 June 1940 and were redeemed until 25 July. A first series of coins was issued in 1923, followed by a second in 1932. Coins were issued in denominations of 1, 2, 5 and 10 pfennige and 1, 2, 5, 10 and 25 gulden; the 25-gulden coins were minted in gold. Produced in small numbers in 1923 and 1930, the latter date's issue was only released as a few presentation pieces; as part of the 1923 series are 200 proof coins and, while available to collectors, are expensive. The 1930 issue was unobtainable until a large number appeared in the 1990s released from a Russian treasury where they had been stored since their capture at the end of World War II.
The first Danzig gulden banknotes were issued by the Danzig Central Finance Department and dated 22 October 1923 with a second issue dated 1 November 1923. Denominations for both series included 1, 2, 5, 10, 25, 50-pfennige notes, as well as 1, 2, 5 gulden. In addition, the first issue contained 10 and 25-gulden notes, the second issue contained 50 and 100-gulden notes; the Bank of Danzig was capitalized with £300,000 on 5 February 1924 and opened on 17 March 1924. The Bank of Danzig issued four series of gulden with an initial issue date of 10 February 1924. Cuhaj, George S. ed.. Standard Catalog of World Paper Money General Issues. Krause. ISBN 978-1-4402-1293-2. Mason, John B.. The Danzig Dilemma – A Study in Peacemaking by Compromise. Stanford University Press. McGuire, Shayne; the Silver Bull Market: Investing in the Other Gold. John Wiley & Sons. ISBN 978-1-118-61514-0
The Gulden was the currency of Bavaria until 1873. Between 1754 and 1837 it was a unit of account, worth 5⁄12 of a Conventionsthaler, used to denominate banknotes but not issued as a coin; the Gulden was 60 Kreuzer Landmünze. The first Gulden coins were issued in 1837, when Bavaria entered into the South German Monetary Union, setting the Gulden equal to four sevenths of a Prussian Thaler; the Gulden was subdivided into 60 Kreuzer. In 1857, the Gulden was set equal to four sevenths of a Vereinsthaler; the Gulden was replaced by the Mark at a rate of 1 Mark = 35 Kreuzer
Economy of Aruba
The economy of Aruba is an open system, with tourism providing the largest percentage of the country's income. Because of tourism's rapid growth in the last 80 years, related industries like construction have flourished. Other primary industries include oil storage, as well as offshore banking. Although the island's poor soil and low rainfall limit its agricultural prospects, aloe cultivation and fishing contribute to Aruba's economy. In addition, the country exports art and collectibles, electrical equipment, transport equipment. Aruba's small labor force and low unemployment rate have led to a large number of unfilled job vacancies, despite sharp rises in wage rates in recent years. With such a large part of its economy dependent on tourism, the Aruban government is striving to increase business in other sectors to protect against possible industry slumps, their current focus is on expanding technology and communications. Unlike many Caribbean islands, a plantation economy never developed on Aruba due to its arid climate.
Early Spanish explorers considered the island of little value because the poor soil made growing crops difficult and because their attempts to find gold turned up empty-handed. However, long after the Dutch obtained control of Aruba, they found the gold the Spanish had been seeking. With the discovery of gold on Aruba in 1800, mining became the island's foremost industry. Aruba's economy boomed. However, by 1916 the gold supply had been tapped out, making it impossible for companies to turn a profit; as the gold mining industry waned, so did the economy. First planted on Aruba in 1850, aloes throve in its desert conditions. With a healthy demand for aloe products, it became an important part of Aruba's economy. In fact, for many years, the country was aloe's top exporter, but over the years, many aloe fields were replaced by buildings, diminishing its production and exports declined. The oldest company on the island, Aruba Aloe, has instituted changes in the hopes of becoming Aruba's leading product manufacturer.
It built a new, modern facility, an aloe museum, designed new packaging. Although most of their product line sells in the national market, a 2005 exporting deal with a U. S. company and sales through their website have increased their international market. Despite setbacks caused by the troubled gold and aloe industries, Aruba's economy didn't suffer long; because of its location near Venezuela, the island became an attractive spot for oil refineries. The Lago Oil and Transport Company, owned by Standard Oil of New Jersey, opened in 1929 near the transshipping port of San Nicolaas. Following in their footsteps, the Eagle Oil Refinery opened soon after. Over the next few decades, the oil industry took over as Aruba's primary economic force. With the United States entry into World War II in 1942 the demand for Aviation gasoline further increased and considerable expansion was done at the Lago Refinery soon after the United States entered the war. With this expansion, Lago became one of the largest refineries in the world, only bested by Royal Dutch Shell Isla refinery on Curaçao, a major producer of petroleum products for the Allied war efforts.
The importance of the Lago refinery was well known to the German High Command and on February 16, 1942 the Lago refinery was attacked by the German submarine U-156. Due to mistakes by the German deck gunner the refinery was not damaged but three of the Lago tankers were torpedoed in San Nicolaas harbour; the Eagle Oil Refinery was dismantled in the late 1950s. But the Lago refinery kept going until 1985, when Exxon closed it. In 1991, the Coastal Corporation bought it, scaled down operations, reopened it. Coastal sold the refinery to Valero Energy Corporation in 2004, its reopening didn't raise Aruba's oil industry to its previous heights although it did revive that sector and continued to be a key contributor to the country's economy until 2009 when it was closed. In December 2010, Valero Energy announced plans to reopen the refinery. In 1947, Aruba's government founded a tourist board to explore the possibility of developing a tourism industry. Several years cruise ships began to dock in Oranjestad, Aruba's capital city.
The island's first luxury hotel was built in 1959. Over the years, tourism helped create a prosperous economy; as the oil industry waned, tourism increased in importance. The government offered fiscal incentives to spur growth of hotels and other tourist-oriented businesses, their efforts resulted in a rapid rise in tourism. When a surplus of these jobs couldn't be filled, they placed a one-year moratorium on new hotel construction and new tourist corporations. Following the September 11 attacks, tourism temporarily declined because of grounded flights and travel fears. Aruba stepped up its visible security force in tourist areas to heighten safety and reassure visitors. After a short time, tourism rebounded strongly. Another potential threat to the industry occurred in 2005, when the May 30 disappearance of vacationing Alabama teen Natalee Holloway made international news. Claiming that Aruban authorities weren't taking the case enough, her mother and the Governor of Alabama called for a nationwide boycott of Aruba.
However, the U. S. federal government didn't back the proposed boycott. Aruba's reputation as one of the safest islands in the Caribbean may have helped it overcome any negative stigma caused by the case; the amount of tourism in June, 2005 rose by 9% from the previous year. Aruba.com - Official Government Website CIA World Factbook - Aruba
Central Bank of Aruba
The Central Bank of Aruba is the central bank in Aruba responsible for implementation of monetary policy of the Aruban florin. The Centrale Bank van Aruba started its operations on January 1, 1986, when Aruba obtained its status as an autonomous country within the Kingdom of the Netherlands. Prior to this period, Aruba formed part of the Netherlands Antilles under jurisdiction of the Bank of the Netherlands Antilles; the bank is a legal entity in itself with an autonomous position within Aruba's public sector. With the inception of the bank, the Aruban florin was brought into circulation at the same rate as the Netherlands Antillean guilder, pegged to the U. S. dollar at a rate of Afl. 1.79 = US$1.00. This exchange rate has remained unchanged since then; the principle tasks of the bank are to maintain the internal and external value of the florin and to promote the soundness and integrity of the financial system. The Centrale Bank van Aruba is led by its president Mrs. Jeanette R Semeleer; the principal tasks of the bank, as stipulated in the Central Bank Ordinance, are to: Conduct monetary policy.
The bank performs these tasks through a variety of activities, which include: Formulating and implementing monetary policy and related measures through, among other things, regulating bank credit and liquidity. Economy of Aruba Aruban florin Bank of the Netherlands Antilles Central Bank of Curaçao and Sint Maarten De Nederlandsche Bank Centrale Bank van Aruba women of the worlds central banks