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What is the History of Blood Banks?

What is the History of Blood Banks?

A blood bank is a bank of blood or blood components, gathered as a result of blood donations, stored and preserved for later use in blood transfusions. “History of Blood Banks” by 1901 Karl Landsteiner, an Austrian physician, whom we see as the most important individual in the field of human blood, categorized the first three human Blood groups A, B and O.

Without this discovery and the subsequent research, there would be no blood banking as we know it today. 1936 Bernard Fantus, the then director of therapeutics at the Cook County Hospital in Chicago, established the first Blood bank in the United States thus creating a hospital laboratory that can preserve and store donor Bloods. In 1940 Dr Charles Drew, a graduate of McGill University Medical School in Montreal, researched and found a technique for the long-term preservation of Blood plasma. This all brought us to what follows.

During 1947 The American Association of Blood Banks (AABB) was formed to “promote common goals among Blood banking facilities and the American Blood donating public.” Then in 1950 Carl Walter and W.P. Murphy, Jr., introduced the plastic bag for blood collection. On its own this does not seem like any big thing at all but by the simple act of replacing breakable glass bottles with durable plastic bags allowed for the evolution of a collection system capable of safe and easy preparation of multiple blood components from a single unit of Whole Blood.

So in 1979 An anticoagulant preservative, CPDA-1 was now introduced. It decreased wastage from expiration and facilitated resource sharing among blood banks. Newer solutions contain adenine and extend the shelf life of red cells to 42 days. The need for blood donors is a never ending gift we can freely give our fellow man so if you are not a regular donor seriously look at this. It may be you who needs the blood one day.…

Banking Options For Expats

Banking Options For Expats

Emigrating to another country and immersing yourself into a new culture can be hard work, but utterly rewarding once you are there and settled. Yet, despite the fact the term ’emigration’ can so often connote tearful goodbyes and one way tickets half way round the world, the truth is (at least according to the latest Halifax survey) that when UK residents do leave the country for work or retirement, they actually move very close to home – and if not just across the channel (like 16 percent of us) they are likely to relocate to the Eurozone. So what are the banking options open to those considering moving to Europe?

Country specific non-resident accounts

When it comes to opening a bank account abroad, if you are not yet a resident of the country it is imperative to research whether such options are available to you. In France for example, non-residents can apply for what is known as a ‘compte non-résident’. Typical differences between standard accounts and compte non-resident are that the latter may not include a credit card or overdraft facilities. However, once you have been settled in France for three months you will be able to open a current account as a resident if you wish to.

Euro Account

Another option available to those moving to another European country is to open a Euro Account. Euro accounts are essentially UK accounts in which the money held within is in Euros instead of sterling. The key to finding the best Euro account is to do your research and to keep flexibility in mind. For instance, an account with no currency conversion charges, and no charges on European ATMs will likely be very useful for those who spend a considerable amount of time in both the UK and abroad. Multi-currency accounts are also available from some banks.

Offshore Bank Account

Offshore bank accounts (or international bank accounts, as they have come to be known) are also a popular option for those moving abroad. It is good to spend the time researching different account providers in order to find the best interest rates, as it is typical to find better returns on your savings abroad than you would if you kept your money in a UK account. Offshore accounts are great for accessing you cash from both the UK and your new country of residence – which is great for avoiding those timely money transfers. You can also bank with multiple currencies and access you money at any time day or night.

If you are moving abroad it is worth exploring all of the above options, and discussing with your banking adviser.…

Where is the Trillion?

Where is the Trillion?

As our instant historians analyze the first financial crisis of 2010 and panic subsides, it is apparent there is one thing we one thing we might know. It is obvious to the forensic financial analysts that the trillion dollars lost in the crash did not make its way to Greece. The World Bank, propped up by helicopter Ben, the international monetary fund and the European Union, felt obligated to grease the printing presses- and crank out a trillion of Fiat currency.

Where should we look then? The silence of China and the petroleum sheiks is certainly deafening. And the mattress of any contributor to the bailout fund is not a place to hide a billion, much less one trillion. We are left to realize that the only storehouse large enough to hide one trillion is Switzerland! If the trillion is housed in the Swiss banking system then we will never know who gamed the financial trading system.

Uncommon sense gleaned from this incident could spare some of the flock from being consumed by the wolf pack. Those who don’t use their intellect will soon discover their treasured “9 to 5” has become “24 ” – even Jack Bauer can not save it. Why would you trust your government enough to invest in its flimsy paper currency when it can’t account for its own spending. Of course, you wouldn’t!.

We all know the well-worn phrase ‘cream rises to the top’. Last century’s common sense and propaganda sold us on the fact that cream is fat, bad fat, and detrimental to our health. Today after over fifty years of research nutritionists and physicians tell us that artificially created fats kill faster than natural animal fats. What is one to believe?

Almost the same amount of corporate and government misinformation has been sold to us concerning the cream of monetary value, gold. Before this decade comes to an end it will be proven ancient wisdom was correct. Gold is not king – it is cream!

Prepare for the worst – pray for better.…

The Public Option in Banking – How We Can Beat Wall Street at Its Own Game

The Public Option in Banking – How We Can Beat Wall Street at Its Own Game

In Wall Street’s latest affront to the public trust, the nine mega-banks graced with $125 billion in taxpayer bailout money under the Troubled Asset Relief Program (TARP) were reported on July 30, 2009, to be paying out billions of dollars in bonuses to their executives. At least 4,793 bankers and traders received more than $1 million each in bonus payments, although it was one of Wall Street’s worst years on record. After months of investigating banker compensation, New York Attorney General Andrew Cuomo said, “The repeated explanation from bank executives that bonuses are tied to performance in a manner designed to promote (national economic) growth does not appear to be accurate.”

To say that it was an understatement would be an understatement. The bonuses paid to executives not only were not tied to national economic growth but were not even tied to some reasonable percentage of company profits. In fact they were generally greater than the net income of the banks. Morgan Stanley, for example, had $1.7 billion in earnings and paid $4.475 billion in bonuses. Goldman Sachs had $2.3 billion in earnings and paid $4.8 billion in bonuses. JP Morgan Chase had $5.6 billion in earnings and paid $8.69 billion in bonuses. JP Morgan’s largesse involved showering 1,626 of its favorite execs and traders with bonuses of $1 million or more. For most people, a “bonus” is a few hundred dollars at Christmastime. A million dollars is what you work a lifetime to try to save, and few people reach that goal. Even Citigroup and Merrill Lynch, which have been called zombie banks, paid $5.33 billion and $3.6 billion in bonuses, respectively — although they lost more than $27 billion each in earnings. The bar for merit is apparently so low that you’re entitled to a bonus if your zombie bank simply keeps breathing!

These blatantly inflated bonuses are just the last in a litany of abuses by those same profligate banks that nearly destroyed our economic system. If the derivatives on their books were “marked to market” (valued at what they would fetch on the market), the banks would be bankrupt, and their employees would be out of a job. Instead, they have been allowed to inflate the value of their “toxic” assets – and sell them to the U.S. government at the inflated value. Then they have taken the money they got from the government at these inflated prices and paid back the TARP money they received – allowing them to post inflated earnings and reward themselves with inflated bonuses! Many people feel that these bankers are thieves stealing from the public till who should be looking at jail time. But who is there to stop their parade of outrages? No one in Congress, the White House, or the news media is calling them on the carpet for it. As Senator Dick Durbin said recently, Wall Street owns Congress; and that is also true of the major media.

We may not be able to stop them, but we can join them. We the people need to play the bankers’ game ourselves. Even corporate giants such as General Motors and WalMart have now gotten into the banking game and are easing their credit problems by forming their own banks. The U.S. public sector is late to the party. States, counties, public universities could take the lucrative system the private banking industry has created for itself and turn it to productive use in the public interest.


In President Obama’s July 17 weekly address, he repeated his call for a public option in health care, in order to “increase competition and keep insurance companies honest” and to “put an end to the worst practices of the insurance industry.” The same call needs to be made for a public option in banking. In some countries, publicly-owned banks have operated alongside privately-owned banks for decades; and in those countries, the current crisis has served to show that public banks generally do a better job of serving the people and protecting their interests than their private counterparts.

In Canada, the trendsetter in public banking is the province of Alberta. Alberta’s publicly-owned banking system, called Alberta Treasury Branches or ATB, was initiated during the Great Depression to give the private banks a run for the public’s money. According to a government publication titled “These Are the Facts: An Authentic Record of Alberta’s Progress, 1935-1948”:

“The Treasury Branch system enables the people to pool their financial resources and to use these resources for their mutual benefit thereby enabling them to progressively free themselves from the stranglehold of the existing financial monopoly. These Treasury Branches provide effective competition for chartered banks thereby …

3 Tips For Saving Money On Banking Fees

3 Tips For Saving Money On Banking Fees

People are often surprised by the charges they see on their banking statements. In truth, most – if not all – of the fees can be avoided with a little savvy planning. It’s worth remembering that banking institutions are motivated to maintain long-term relationships with their customers. While the fees represent a source of revenue for them, their priority is helping you and your family with your financial needs. That includes providing checking and savings accounts, investments, and a variety of loans. In that light, here are 3 smart tips for reducing your banking fees.

#1 – Stay Within Your ATM Network

When you use your debit card at an ATM, stay within your bank’s network. Otherwise, you may charged $1 or $2 for the transaction. Some financial institutions maintain large networks while others manage smaller ones. The size of the network is not as important as having an ATM near your home or work.

When you withdraw money, take out enough to last the entire week. That way, you won’t be forced to make an unplanned $20 withdrawal at a machine outside your bank’s network.

#2 – Consider A Free Checking Account

These days, it’s easier than ever to get a free checking account. Many banks offer them because they realize a lot of free checking account customers will need loans, investments, and other financial services down the road. If you’re paying a monthly charge for maintaining your checking account, ask your bank whether they offer a free alternative. In most cases, you’ll discover they do.

#3 – Balance Your Checking Account

If you don’t know how much money is in your account, it’s easy to bounce checks. In the old days, you needed to keep meticulous records because statements were mailed monthly. Today, you can log into your bank’s website and balance everything online. It only takes a few minutes and doing so will help you avoid bouncing checks.

Remember, each time you write a check without having enough money to cover it will carry a hefty charge (often, as much as $30). Keep track of your balance online and you won’t need to worry.

Saving Money On Banking Fees Is Easy

One of the reasons many banking customers are dinged with sporadic charges is because they fail to properly plan. For example, they might find themselves without cash while they’re out with their friends. A quick $20 withdrawal at an ATM outside their bank’s network might come with a $2 fee. Or, they may neglect to balance their money and bounce a few checks as a result. Each NSF (non-sufficient funds) event may carry a $30 charge. Use the 3 tips above to enjoy your bank’s services while reducing the charges you pay.…

Living in Portugal: Banking in Portugal

Living in Portugal: Banking in Portugal

The Portuguese banking system was only slightly affected by the recent global financial crisis. The economic sector has changed significantly in the last years, with many Spanish banks opening branches in the country. Expats living in Portugal are recommended to open a bank account in order to be able to pay certain bills. All banks in this country are part of a national group of banks called Multibanko. If you are moving to Portugal from abroad or you travel regularly to this country, a bank account allows you to maintain full control over your finances.

Banking in Portugal is regulated by Banco de Portugak (Bank of Portugal). The most important commercial banks include Banco Efisa, Banco BPI, Caixa Central de Cr?�dito Agr?�cola M??tuo, Banco Internacional do Funchal (BANIF), Banco Popular Portugal, and Banco Comercial Portugu??s (BCP). Foreign banks include Deutsche Bank, BNP Paribas, Barclays, and ABN−AMRO. The euro (EUR) is the currency in circulation in this country.

The Multibanco system in Portugal allows customers a wide variety of conveniences. Account holders can use a Multibanco debit card in ATMs across the country, and for purchasing goods. They may also load time talk onto their mobile phone and pay utility bills online. If you just moved to Portugal and you have a Portuguese bank account, your utility bills will be paid directly from your account. There is no restriction on the amount of money flowing into and out of the country.

In order to open a bank account in Portugal, EU residents will need the following documents:

• An identity card or passport• Proof of residence• NIF number• Residency card

Applicants must be at least 18 years of age in order to open a bank account. You also have to go to the branch office nearest you. Even though you can open an account from abroad, it is frowned upon as the bank officials generally like to see applicants in person. Non-EU expats must provide proof of employment, tax card, proof of address in country of origin, and a passport. If you don’t know which bank to choose for your new account, do proper research and compare several banks before making a decision.

Opening a bank account in Portugal involves a lot of paperwork. Many expats have a difficult time providing all the documents required. Those who are self employed need proof of the business in Portugal. Minimum deposits to open accounts are usually around 250 euros. Account holders have access to a comprehensive range of banking services and products.…

UK Banking in 2010 – An Era of Sensible and Conservative Banking?

UK Banking in 2010 – An Era of Sensible and Conservative Banking?

Perhaps unsurprisingly, the wake of the credit crunch has coincided with an increased awareness among the UK public as to how important it is to save rather than spend – and to become less dependent on credit and loans. This has been particularly evident among younger savers such as students learning from the mistakes of their parents, yet recent research from Abbey has found that families are still finding it difficult to save for a rainy day.

To stimulate the trend towards saving, the UK government have recently announced that three new banks will appear on the high street in an attempt to boost competition at a time of low interest rates, and to ultimately – according to Gordon Brown – ‘return to an era of sensible and conservative banking. So how is this era going to feel for the average saver?

In terms of new names in banking, it is likely that there will be few surprises. The recognisable Trustee Savings Bank (TSB) is set to become its own entity once more after being amalgamated with Lloyds Bank in 1995. Additionally, The Telegraph also tip that the publicly owned Northern Rock will be resuscitated too, while the perhaps less known Williams and Glyn’s Bank (formerly part of RBS) is also set to make a comeback.

The general opinion from financial spectators is that the emergence of three new banks will add to competition on the high street and be a benefit to the customer – especially in terms of savings rates and banking services. Of courses, to assume at this stage that the moves will be directly financially better for the customer is a little naïve – and although the attainability of mortgages across the UK is said to be getting easier a simple increase in the number of banks may not be sent o affect this in the short term.

However, as 2009 drawers to a close we will also see new regulations set to make the sector more customer orientated. Starting in October the FSA have imposed new rules which will mean that banks have to give at least two months notice if they intend to cut savings rates. This will give savers considerable forewarning in order to assess the rates elsewhere and ample time for them to switch should they wish to do so.…

How to Secure Your Online Banking

How to Secure Your Online Banking

The essence of opting for internet banking is for it’s benefits and enjoyment. But do you know that not all that subscribe for online banking are really enjoying it? In spite of the fact that almost all banks are going online and the internet banking is spreading like wild fire. However if you adhere to these instructions the benefits of online banking will be all yours.

As fraudsters are in search of those who are careless about their accounts, make sure that all receipts about your account statement previously used are thorn to shreds before disposing them because any little trace to your account is risky. You must be aware of every transaction made on your account not necessarily your service provider should do the job because you need to guard your account strictly and ensure that check your account statement monthly.

Your personal interest must be paramount at any time therefore if you notice that your service provider is not impressing you do not hesitate to change it.

Remember to change your password from time to time to guard against spamming. There is available software that will help you in doing this, but most important have a very unique password. Avoid the use of office numbers, license numbers, phone numbers etc, to form your password.

You are aware that we have mentioned service providers above, (online banking) this is because they play a major role in online banking therefore be careful in making your choice because some of them are self centered and cares less about the customer. A quick-to-action customer service provider with good security measures is the best to opt for, so that speedy and careful response to any complaint will be easily attended to.

However, in spite of the fact that online banking requires adequate diligence, it remains the quicker and convenient way of banking from the comfort of your home office or even while on transit. So do not be frightened its benefits are quite immense.…

Face Time: The Importance of Communication in Business

Face Time: The Importance of Communication in Business

Anyone in business will know the importance of good communication – after all, how can you provide a top quality service if you don’t know what your clients want? Tough times are ahead of us, and contractors working in IT contract jobs need to do all they can to gain honest feedback from their customers, in order to gain a better understanding of what their clients feel and what their employees think.

It is important to establish one or even multiple lines of communication between the contractor and the client. These can be in the form of emails, phone lines or paper tools – anything, so long as it provides candid, honest feedback with the option for anonymity. Never underestimate the value of anonymity. Surveys work well too, so long as they are carried out quickly and frequently and the results are publicised afterwards. This gives a clear message that you care about what the service you offer to your clients. Publish a weekly or monthly newsletter to let your customers know what is going on; this will allow you to publicise your successes whilst dealing with unhealthy rumours. The newsletter could even contain a Q&A section, answering any queries your clients may have regarding your services.

Show your face. Do your best to meet up with clients and customers regularly to discuss contract jobs; not only will this show the client that you are accessible and interested, but it will help to build and strengthen trust. If you want to honest feedback, you need to make an effort to expose yourself to clients and team members – organise a business lunch, or pop into client offices or locations – get involved!

It is difficult to take well to criticism, and the professional should never underestimate the value of staying level headed and professional. Negative feedback should be thought of as a learning curve – it is not necessarily a bad thing!

When faced with criticism, the IT professional should handle the situation professionally and tactfully. Resolve to investigate their complaint and take some time look to look into the issues they have raised. Ask questions about their criticism, and develop a polite and tactful dialogue to ensure that you learn as much as you can from their complaint. Be upfront about any mistakes that were made and admit any wrongdoings – this is a sure way to gain respect from your clients and your colleagues.…

Why QE2 Failed: The Money All Went Offshore

Why QE2 Failed: The Money All Went Offshore

On June 30, QE2 ended with a whimper. The Fed’s second round of “quantitative easing” involved $600 billion created with a computer keystroke for the purchase of long-term government bonds. But the government never actually got the money, which went straight into the reserve accounts of banks, where it still sits today. Worse, it went into the reserve accounts of FOREIGN banks, on which the Federal Reserve is now paying 0.25% interest.

Before QE2 there was QE1, in which the Fed bought $1.25 trillion in mortgage-backed securities from the banks. This money too remains in bank reserve accounts collecting interest and dust. The Fed reports that the accumulated excess reserves of depository institutions now totals nearly $1.6 trillion.

Interestingly, $1.6 trillion is also the size of the federal deficit – a deficit so large that some members of Congress are threatening to force a default on the national debt if it isn’t corrected soon.

So here we have the anomalous situation of a $1.6 trillion hole in the federal budget, and $1.6 trillion created by the Fed that is now sitting idle in bank reserve accounts. If the intent of “quantitative easing” was to stimulate the economy, it might have worked better if the money earmarked for the purchase of Treasuries had been delivered directly to the Treasury. That was actually how it was done before 1935, when the law was changed to require private bond dealers to be cut into the deal.

The one thing QE2 did for the taxpayers was to reduce the interest tab on the federal debt. The long-term bonds the Fed bought on the open market are now effectively interest-free to the government, since the Fed rebates its profits to the Treasury after deducting its costs.

But QE2 has not helped the anemic local credit market, on which smaller businesses rely; and it is these businesses that are largely responsible for creating new jobs. In a June 30 article in the Wall Street Journal titled “Smaller Businesses Seeking Loans Still Come Up Empty,” Emily Maltby reported that business owners rank access to capital as the most important issue facing them today; and only 17% of smaller businesses said they were able to land needed bank financing.

How QE2 Wound Up in Foreign Banks

Before the Banking Act of 1935, the government was able to borrow directly from its own central bank. Other countries followed that policy as well, including Canada, Australia, and New Zealand; and they prospered as a result. After 1935, however, if the U.S. central bank wanted to buy government securities, it had to purchase them from private banks on the “open market.” Former Fed Chairman Marinner Eccles wrote in support of an act to remove that requirement that it was intended to keep politicians from spending too much. But all the law succeeded in doing was to give the bond-dealer banks a cut as middlemen.

Worse, it caused the Fed to lose control of where the money went. Rather than buying more bonds from the Treasury, the banks that got the cash could just sit on it or use it for their own purposes; and that is apparently what is happening today.

In carrying out its QE2 purchases, the Fed had to follow standard operating procedure for “open market operations”: it took secret bids from the 20 “primary dealers” authorized to sell securities to the Fed and accepted the best offers. The problem was that 12 of these dealers – or over half — are U.S.-based branches of foreign banks (including BNP Paribas, Barclays, Credit Suisse, Deutsche Bank, HSBC, UBS and others); and they evidently won the bids.

The fact that foreign banks got the money was established in a June 12 post on Zero Hedge by Tyler Durden (a pseudonym), who compared two charts: the total cash holdings of foreign-related banks in the U.S., using weekly Federal Reserve data; and the total reserve balances held at Federal Reserve banks, from the Fed’s statement ending the week of June 1. The charts showed that after November 3, 2010, when QE2 operations began, total bank reserves increased by $610 billion. Foreign bank cash reserves increased in lock step, by $630 billion — or more than the entire QE2.

In a June 27 blog, John Mason, Professor of Finance at Penn State University and a former senior economist at the Federal Reserve, wrote:

In essence, it appears as if much of the monetary stimulus generated by the Federal Reserve System went into the Eurodollar market. This is all part of the “Carry Trade” as foreign branches of an American bank could borrow dollars from the “home” bank creating a Eurodollar assets at the smaller [U.S.] banks remained relatively flat…. Thus, the reserves the Fed was pumping …