A sovereign wealth fund, sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. By historic convention, the United States' Social Security Trust Fund, with US$2.8 trillion of assets in 2014, similar vehicles like Japan Post Bank's JP¥200 trillion of holdings, are not considered sovereign wealth funds. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system. Other sovereign wealth funds are the state savings that are invested by various entities for the purposes of investment return, that may not have a significant role in fiscal management; the accumulated funds may have their origin in, or may represent, foreign currency deposits, special drawing rights and International Monetary Fund reserve positions held by central banks and monetary authorities, along with other national assets such as pension investments, oil funds, or other industrial and financial holdings.
These are assets of the sovereign nations that are held in domestic and different reserve currencies. Such investment management entities may be set up as official investment companies, state pension funds, or sovereign funds, among others. There have been attempts to distinguish funds held by sovereign entities from foreign-exchange reserves held by central banks. Sovereign wealth funds can be characterized as maximizing long-term return, with foreign exchange reserves serving short-term "currency stabilization", liquidity management. Many central banks in recent years possess reserves massively in excess of needs for liquidity or foreign exchange management. Moreover, it is believed most have diversified hugely into assets other than short-term liquid monetary ones, though no data is publicly available to back up this assertion; some central banks have begun buying equities, or derivatives of differing ilk. The term "sovereign wealth fund" was first used in 2005 by Andrew Rozanov in an article entitled, "Who holds the wealth of nations?" in the Central Banking Journal.
The previous edition of the journal described the shift from traditional reserve management to sovereign wealth management. Some of them have grabbed attention making bad investments in several Wall Street financial firms such as Citigroup, Morgan Stanley, Merrill Lynch; these firms needed a cash infusion due to losses resulting from mismanagement and the subprime mortgage crisis. SWFs invest in a variety of asset classes such as stocks, real estate, private equity and hedge funds. Many sovereign funds are directly investing in institutional real estate. According to the Sovereign Wealth Fund Institute's transaction database around US$9.26 billion in direct sovereign wealth fund transactions were recorded in institutional real estate for the last half of 2012. In the first half of 2014, global sovereign wealth fund direct deals amounted to $50.02 billion according to the SWFI. Sovereign wealth funds have existed for more than a century, but since 2000, the number of sovereign wealth funds has increased dramatically.
The first SWFs were non-federal U. S. state funds established in the mid-19th century to fund specific public services. The U. S. state of Texas was thus the first to establish such a scheme. The Permanent School Fund was created in 1854 to benefit primary and secondary schools, with the Permanent University Fund following in 1876 to benefit universities; the PUF was endowed with public lands, the ownership of which the state retained by terms of the 1845 annexation treaty between the Republic of Texas and the United States. While the PSF was first funded by an appropriation from the state legislature, it received public lands at the same time that the PUF was created; the first SWF established for a sovereign state is the Kuwait Investment Authority, a commodity SWF created in 1953 from oil revenues before Kuwait gained independence from the United Kingdom. According to many estimates, Kuwait's fund is now worth US$600 billion. Another early registered SWFs is the Revenue Equalization Reserve Fund of Kiribati.
Created in 1956, when the British administration of the Gilbert Islands in Micronesia put a levy on the export of phosphates used in fertilizer, the fund has since grown to $520 million. SWFs are created when governments have budgetary surpluses and have little or no international debt, it is not always possible or desirable to hold this excess liquidity as money or to channel it into immediate consumption. This is the case when a nation depends on raw material exports like oil, copper or diamonds. In such countries, the main reason for creating a SWF is because of the properties of resource revenue: high volatility of resource prices, unpredictability of extraction, exhaustibility of resources. There are two types of funds: stabilization funds. Stabilization SWFs are created to reduce the volatility of government revenues, to counter the boom-bust cycles' adverse effect on government spending and the national economy. Savings SWFs build up savings for future generations. One such fund is the Government Pension Fund of Norway.
The Kalispel Indian Community of the Kalispel Reservation is a federally recognized tribe of Lower Kalispel people, located in Washington. They are an Indigenous people of the Northwest Plateau; the Kalispel Reservation, located in Usk in Pend Oreille County, Washington. It is 4,557 acres large; the tribe's headquarters is in Washington. The tribe is governed by five-member tribal council; the current administration is as follows: Traditionally, Kalispel people spoke the Kalispel language, an Interior Salish language. Kalispel people are thought to have come from British Columbia. In the 18th century, the Niitsitapi people pushed them from the Great Plains to Pend d'Oreille River and Lake Pend Oreille; the town of Kalispell, Montana is named after the tribe. In 1809, David Thompson opened a trading post for the North West Company of Montréal in their territory. A Roman Catholic mission was founded in the 1840s; the Upper Kalispel were forced onto an Indian reservation in Montana, while the Lower Kalispel remained on their homelands in Washington.
The tribe refused to sign a treaty proposed by the US government in 1872. In 1875, there were only 395 Lower Kalispel. Non-Natives claimed reservation lands under the Homestead Act, economic opportunities for tribal members were minimal. In 1965, the average tribal member's income was $1,400, there was only one telephone for the entire tribe; the tribe owns and operates the Northern Quest Resort and Casino, located in Airway Heights, Washington. The resort features Masselow's, Epic Sports Bar, Fai's Noodle House, Rivers Edge Buffet, The Deli, Thomas Hammer Coffee and Jerry's Ice Cream, Movie & Dinner Theatre as well as several bars and nightclubs: Legends of Fire, Fireside Lounge and the Turf, La Rive Spa; the tribe owns the franchise rights to Fatburger in the Eastern Washington region, having opened a restaurant in Spokane's 5-Mile district. Pritzker, Barry M. A Native American Encyclopedia: History and Peoples. Oxford: Oxford University Press, 2000. ISBN 978-0-19-513877-1. Kalispel Tribe of Indians, official website
Narcosis while diving is a reversible alteration in consciousness that occurs while diving at depth. It is caused by the anesthetic effect of certain gases at high pressure; the Greek word νάρκωσις, "the act of making numb", is derived from νάρκη, "numbness, torpor", a term used by Homer and Hippocrates. Narcosis nitrous oxide inhalation, it can occur during shallow dives, but does not become noticeable at depths less than 30 meters. Except for helium and neon, all gases that can be breathed have a narcotic effect, although varying in degree; the effect is greater for gases with a higher lipid solubility, there is good evidence that the two properties are mechanistically related. As depth increases, the mental impairment may become hazardous. Divers can learn to cope with some of the effects of narcosis, but it is impossible to develop a tolerance. Narcosis affects all divers, although susceptibility varies among individuals and from dive to dive. Narcosis may be reversed in a few minutes by ascending to a shallower depth, with no long-term effects.
Thus narcosis while diving in open water develops into a serious problem as long as the divers are aware of its symptoms, are able to ascend to manage it. Diving much beyond 40 m is considered outside the scope of recreational diving. In order to dive at greater depths, as narcosis and oxygen toxicity become critical risk factors, specialist training is required in the use of various helium-containing gas mixtures such as trimix or heliox; these mixtures prevent narcosis by replacing some or all of the breathing gas with non-narcotic helium. Narcosis results from breathing gases under elevated pressure, may be classified by the principal gas involved; the noble gases, except helium and neon, as well as nitrogen and hydrogen cause a decrement in mental function, but their effect on psychomotor function varies widely. The effect of carbon dioxide is a consistent diminution of psychomotor function; the noble gases argon and xenon are more narcotic than nitrogen at a given pressure, xenon has so much anesthetic activity that it is a usable anesthetic at 80% concentration and normal atmospheric pressure.
Xenon has been too expensive to be used much in practice, but it has been used for surgical operations, xenon anesthesia systems are still being proposed and designed. Due to its perception-altering effects, the onset of narcosis may be hard to recognize. At its most benign, narcosis results in relief of anxiety – a feeling of tranquility and mastery of the environment; these effects are identical to various concentrations of nitrous oxide. They resemble the effects of alcohol or cannabis and the familiar benzodiazepine drugs such as diazepam and alprazolam; such effects are not harmful unless they cause some immediate danger to go unrecognized and unaddressed. Once stabilized, the effects remain the same at a given depth, only worsening if the diver ventures deeper; the most dangerous aspects of narcosis are the impairment of judgement, multi-tasking and coordination, the loss of decision-making ability and focus. Other effects include visual or auditory disturbances; the syndrome may cause exhilaration, extreme anxiety, depression, or paranoia, depending on the individual diver and the diver's medical or personal history.
When more serious, the diver may feel overconfident. Slowed mental activity, as indicated by increased reaction time and increased errors in cognitive function, are effects which increase the risk of a diver mismanaging an incident. Narcosis reduces both the perception of cold discomfort and shivering and thereby affects the production of body heat and allows a faster drop in the core temperature in cold water, with reduced awareness of the developing problem; the relation of depth to narcosis is sometimes informally known as "Martini's law", the idea that narcosis results in the feeling of one martini for every 10 m below 20 m depth. Professional divers use such a calculation only as a rough guide to give new divers a metaphor, comparing a situation they may be more familiar with. Reported signs and symptoms are summarized against typical depths in meters and feet of sea water in the following table adapted from Deeper into Diving by Lippman and Mitchell: The cause of narcosis is related to the increased solubility of gases in body tissues, as a result of the elevated pressures at depth.
Modern theories have suggested that inert gases dissolving in the lipid bilayer of cell membranes cause narcosis. More researchers have been looking at neurotransmitter receptor protein mechanisms as a possible cause of narcosis; the breathing gas mix entering the diver's lungs will have the same pressure as the surrounding water, known as the ambient pressure. After any change of depth, the pressure of gases in the blood passing through the brain catches up with ambient pressure within a minute or two, which results in a delayed narcotic effect after descending to a new depth. Rapid compression potentiates narcosis owing to carbon dioxide retention. A divers' cognition may be affected on dives as shallow as 10 m, but the changes are not noticeable. There is no reliable method to predict the depth at which narcosis becomes noticeable, or the severity of the effect on an individual diver, as it may vary from di
Darwin Harbour is the body of water close to Darwin in the Northern Territory of Australia. It opens to the north at a line from Charles Point in the west to Lee Point in the east into the Beagle Gulf and connects via the Clarence Strait with the Van Diemen Gulf, it contains Port Darwin, flanked by Frances Bay to the east and Cullen Bay to the west. It was named after the naturalist Charles Darwin who sailed with Robert Fitzroy on the ship HMS Beagle around parts of Australia; however and Fitzroy sailed in 1836 from King George's Sound directly to the Cocos-Keeling Islands, at the south coast of Java, from there to Cape Town and back to England. They did not know of its existence; the climate of the Darwin Harbour region is monsoon tropical with two distinct seasons: the Dry and the Wet. The Dry lasts for 6 months between April and September with an average rainfall of 24 mm, whereas the Wet lasts between October and March with an average monthly rainfall of 254 mm/month; the majority of the rain falls between April.
Runoff varies between 250–1000 mm. Riverine discharge is low with the exception of the Blackmore River and Elizabeth River. Peak flow for these rivers occurs in February 605Ml/day and 389 Ml/day, after which it decreases until July when there is no freshwater input into Darwin Harbour until the onset of the following wet season. Cyclone frequency is low to moderate. Darwin Harbour supports high fish diversity with 415 fish species now known. Darwin Harbour provides a unique opportunity to see dugongs in the wild, because their favourite food is located off Casuarina and Vestey’s beaches. Seagrass meadows are the main diet of green turtles and provide habitats for many smaller marine animals including commercially important species such as prawns and fish; the tides at Port Darwin are macro-tidal with a maximum tidal range of 7.8 m, a mean spring range of 5.5 m and a mean neap range of 1.9 m. The currents caused by these tides are strong. Darwin Harbour consist of ria shorelines and extensive headlands.
The catchment of Darwin Harbour occupies a total area of 3,230 square kilometres, of this 2,010 square kilometres is land based and the other 1,220 square kilometres are estuarine areas at the high water mark. The underlying lithology is dominated by Permian sandstones. On 4 April 2007, the remainder of Darwin Harbour, not part of a suburb or a locality within the boundaries of either of the two local government areas, the City of Darwin and the Litchfield Municipality, was gazetted by the Northern Territory Government as a locality with the name, Darwin Harbour, its north-western boundary aligns with that of the boundary for the Port of Darwin which extends from Charles Point in the west to Lee Point in the east. The locality has not been added to any existing local government area and is considered to be part of the Northern Territory's unincorporated areas. Media related to Darwin Harbour at Wikimedia Commons
Puffy are a Japanese pop rock band formed in Tokyo in 1995. In the United States, they adopted the name Puffy AmiYumi to avoid legal naming conflicts with Sean Combs, they sing in English. Ami Onuki, whose nickname is Jane and Yumi Yoshimura, nicknamed Sue, were scouted by Sony-affiliated talent agencies and put together in the mid-1990s. Most of their early work was produced or co-written by Tamio Okuda and Andy Sturmer of the bands Unicorn and Jellyfish, respectively; the band gained mainstream success in Japan during 1998, following the release of their Jet album and tour in support of it. Their first release "Asia no Junshin" sold a million records and their success has continued with several more full-length releases. In 2004, an animated series featuring cartoon versions of Ami and Yumi, Hi Hi Puffy AmiYumi, premiered on the United States' Cartoon Network. Despite both of them being voiced by American actresses, the real Ami and Yumi starred in short live-action segments taped in Japan; when she was in high school, Ami sang for a band called "Hanoi Sex".
In her sophomore year, the band auditioned during the Sony SD Audition and passed, becoming employees of Sony Music Entertainment. Years went by with little action by either the band or the record label, as Ami took vocal lessons and attended a professional school to learn how to become a better performer; the band dissolved, leaving only Ami under Sony's employment. She was encouraged to stay, despite lacking a clear musical direction. Separately, Yumi had learned of the Chotto Sokomade talent search underway by Sony Music Artists when she was "around 18", she auditioned and passed. She moved on her own from Osaka to Tokyo, where she met Ami by chance in the Sony Music offices and at a concert after-party, when the two hit it off. Both felt alone within the large Sony organization and neither were confident in their abilities as solo artists, so though Ami had recorded a solo CD under the guidance of former Unicorn front-man Tamio Okuda, they requested Sony pair them as a duo; when paired together, their voices blended well and they had a close rapport.
Producer and American pop musician Andy Sturmer christened them "Puffy", is considered by Ami and Yumi as "the godfather of Puffy". Ami had met Tamio Okuda at a SPARKS GOGO concert, he had produced her then-unreleased solo CD, he was signed on to produce Puffy's first album AmiYumi. Their debut single, "Asia no Junshin", launched Puffy-mania. Asked if they were surprised by the attention after its success, Yumi told an interviewer "... everything, put together for that song all came together and made it happen, but we didn't expect it. It was luck."As "Puffy-mania" exploded, they became multimedia stars, including hosting their own weekly TV show Pa-Pa-Pa-Pa-Puffy with guests such as Lenny Kravitz, Sylvester Stallone, Harrison Ford, rock band Garbage. Puffy made their first US appearance as part of Music Japan's "An Evening with Japan's All-Stars" showcase at the 2000 South by Southwest festival in Austin, Texas. After their performance at SXSW, attorneys for Sean "Puffy" Combs sent the band a cease and desist letter asking them to change their name.
After changing their name in the US to Puffy AmiYumi, they told Entertainment Weekly: Yumi: It doesn't bother us at all. We respect the fact that Puff Daddy is Puffy in the U. S. Ami: The bottom line is that we don't know what puffy means. We were given our name by somebody else six years ago, we don't have a clue. After Pa-Pa-Pa-Pa-Puffy ended production in 2002, Puffy focused on performing in the United States. Several of their previous Japanese albums were released for the US market and they recorded theme songs for the animated series Teen Titans and SD Gundam Force, they have done a cover version with Cyndi Lauper of her hit "Girls Just Wanna Have Fun". They were interviewed on Jimmy Kimmel Live! by Jimmy Kimmel and performed their songs "Hi Hi" and "Akai Buranko" on the show. They came back to the US in 2006 for their Splurge Tour. In April, 2017 the band made an appearance at Anime Boston for autograph signings. After their appearance at Boston Anime Convention they did a 3 city USA Tour which they called their "Not Lazy Tour" of the cities of San Francisco, Los Angeles, Dallas, Texas.
On November 19, 2004, an animated series featuring cartoon versions of Ami and Yumi, Hi Hi Puffy AmiYumi, premiered on the United States' Cartoon Network. Despite both of them being voiced by American actresses, the real Ami and Yumi star in short live-action segments taped in Japan; the show features some of Puffy's music. Cartoon Network's Japan service started airing episodes of the series in 2005. In October of that year, TV Tokyo began airing a Japanese-dubbed version of the series, which also went to CN Japan on January 8, 2006. Hi Hi Puffy AmiYumi debuted in other countries such as Mexico, dubbed in Spanish, Brazil, dubbed in Brazilian Portuguese, both transmitted on Cartoon Network. Yumi said in an interview with LiveDaily: Yumi: The Cartoon Network show has given us a great opportunity to introduce the music to a new audience; when we toured, after the Cartoon Network show started, so many little kids came to our show. We always wanted as many people as possible to listen to the music.
Puffy AmiYumi made an appearance and performed in the Macy's Thanksgiving Day Parade in 2005 where they were represented by their own Hi Hi Puffy AmiYumi float and balloon. On January 16, 2006 Ami and Yumi were appointed goodwill ambassadors to the United
USNA Out is an American non-profit organization of lesbian, gay and transgender Alumni of the U. S. Naval Academy in Annapolis, Maryland. USNA Out is an independent 501 organization that does not represent the Naval Academy Alumni Association nor the U. S. Naval Academy. USNA Out is the first LGBT organization representing alumni from a federal service academy; the group was formed in 2003 when 32 LGBT alumni of the Naval Academy petitioned the USNA Alumni Association for special status as a non-geographic chapter of the Alumni Association, similar to the special status of the association's RV chapter. The initial request was rejected on multiple grounds; the organization continued to increase membership and incorporated as a 501 in the State of Maryland in September, 2009. In November 2009 USNA Out realigned the leadership structure to support the growing membership of over 300; the organization now comprises an unofficial "affinity group" among the U. S. Naval Academy Alumni; the organization incorporated as a 501 in the State of Maryland in September 2009.
On December 22, 2010, USNA Out founding member Commander Zoe Dunning, USNR, stood beside President Barack Obama as he signed the Don't Ask, Don't Tell Repeal Act of 2010. USNA Out provides a path for "reconnection" for the many LGBT USNA alumni who have over time been disassociated from the U. S. Naval Academy and the USNA Alumni Association because of their sexuality or gender identity. By maintaining visibility, the members of the organization become role models for current Midshipmen and family of midshipmen and for other alumni serving in the fleet. Although many USNA Out members worked to end to the "Don't Ask Don't Tell" policy, political activism was not within the mission of the organization. In 2007, USNA Out began the "OUT of ANNAPOLIS Project" with a goal of putting human faces and personalities to the LGBT alumni; the project included a detailed study of the alumni to establish. It included online profiles numerous alumni for the purpose of becoming "role models" for current midshipmen at the academy and junior officers in the fleet.
In June, 2008, the OUT of ANNAPOLIS Project expanded to include a documentary film by the project title, OUT of ANNAPOLIS. The film produced and directed by Steve Clark Hall and Joseph Soto opened at the SVA Theater in New York in June, 2010. One of the more revealing facts from the OUT of ANNAPOLIS study was that only one in six of those who enter the academy identify as LGBT at the time they enter; the remaining 83% re-identify as LGBT while at the academy, in the fleet, or as civilians after completion of their service. U. S. Naval Academy Knights Out Blue Alliance Zoe Dunning DMW Greer Joseph Steffan Vernon E "Copy" Berg, III Sexual orientation and the United States military Official website USNA Out on Facebook OUT of ANNAPOLIS US Naval Academy Alumni Association & Foundation