Noua Taxa a masinilor auto
Mood:  a-ok
Topic: Economic
Taxa auto creste pentru masinile noi si scade pentru autovehiculele vechi de import
02.04.2008

Potrivit noii formule a taxei auto, cetatenii vor plati mai mult pentru masinile noi vândute în România, cu motoare care corespund normelor Euro 4, în timp ce valorile scad la jumatate pentru autovehiculele Euro 1 si Euro 2 cu motoare de pâna în 2.000 centimetri cubi(cmc). Taxa ramâne la valori destul de ridicate pentru automobilele vechi de import, se arata in proiectul de ordonanta, citat de Mediafax. Astfel, pentru un Logan nou pe benzina cu motor Euro 4 de 1.400 cmc, cu 75 cai putere (CP), noua taxa auto, aplicabila de la 1 iulie, va fi de 245,8 euro, fata de 160,6 euro conform actualului algoritm. Pentru acelasi autoturism, dar echipat cu un motor de 1.600 cmc, care dezvolta 90 CP, noua taxa va fi de 387,6 euro, fata de 183,6 euro în prezent. Pentru un Logan cu motor diesel de 1.500 cmc (85 CP) taxa auto va fi de 315 euro, fata de 172,1 euro dupa Codul fiscal actual.

Renault Clio, cea mai bine vânduta masina de import anul trecut si a doua ca vânzari pe piata româneasca, va avea o taxa de 188 euro pentru motorul pe benzina de 1.200 cmc (75 CP), fata de 137 euro. Aceeasi masina, dar echipata cu un motor diesel de 1.500 cmc (85 CP) va avea o taxa de 315 euro, în crestere de la 172,1 euro. Pentru automobilul clasat pe locul al treilea la vânzari si pe locul al doilea la import, Renault Megane, noua taxa va fi de 245,2 euro pentru un motor pe benzina de 1.400 cmc (100 CP), fata de 160,6 euro, în timp ce pentru motorul diesel de 1.900 cmc montat pe aceeasi masina taxa va fi de 553,7 euro, în crestere de la 508 euro.

Noul sistem de calcul indica valori în scadere la jumatate pentru taxele aplicate autovehiculelor Euro 2 si Euro 1 cu motoare de pâna la 2.000 cmc si reduceri chiar mai mari la masinile non-euro. Astfel, la vehiculele Euro 2 cu motoare de 1.400 de cmc si o vechime de 6-7 ani, noua taxa va fi de 1.213 euro, fata de 2.604 euro în prezent, iar la vechime de 8-9 ani, suma scade la 928 euro. La aceeasi categorie, motoarele de 1.600 cmc vor fi taxate cu 2.121 euro, la o vechime de 6-7 ani ( 2.976 euro în prezent) si cu 1.622 euro la vechime de 8-9 ani. Pentru motoarele de 2.000 cmc, cu vechime de 6-7 ani, taxa urca la 3.300 euro, dar sub valoarea actuala de plata, de 4.007 euro. Aceleasi masini Euro 2 cu vechime de 8-9 ani vor fi taxate cu 2.574 euro.

Anecdote
Mood:  cheeky
Topic: Anecdote

Husband saves wife after car crash by donating his blood for her. Year down the line they are going thru a nastydivorce and husband wants his blood back. Wife pulls out her tampon slaps it in his face and says I‘ll pay you monthly you b*stard

 

Old lady in a department store lift. Doors open and 2 rich women step in. One rich woman says to the other „Smell that? Christian Dior! £50/oz“ The other says „Smell that? Chanel No.5! £60/oz“ Old lady farts and says „Smell that? Brussel Sprouts! 25p/lb“


baba spala podeaua in casa, si daca era foarte grasa si batrina nu se putea apleca si tatea asa rakom….
mosneagul trebuia sa treaca, si nu putea ca ea acoperise toata teritoria, si zice: ia, da-ti fa, kombainul la o parte.
sara in pat, mosneagul incearca sa o iubeasca, dar baba se intoarce si ii zice: nu ni-oi mai zavodi eu kombainul pentru un pai!


Vinde un gruzin la piata Centrala fructe.Vine o babuta si intreaba:
-Dragu kiokei,cit is apelsinele?
-10 lei kioki.
-Bine,da-mi te rog 2 kile, si zavernestile te rog,da fiecare aparte te rog,ca baietu neu ii la Moscova si stii cum ii acolo…
Dragu kiokei,da cit is mandarinile?
-15 lei kioki…
-Bine,da-mi te rog 3kile, zavernestile te rog,da fiecare aparte te rog,ca baietu neu ii la Moscova si stii cum ii acolo…
Dragu kiokei,da cit ii iziumu?
-…25 de lei kioki,da la Moscova ii mai ieftin, si nu mai vind izium azi…




stau 2 gruzini in Moscova si vind zamoshi…boli‘shie dini…
vine o rusoaika si intreaba:
- po chem iabloki?
- ne trogai vinograd… raspund astea…

 

 

 

deoarece suntem la hotar cu ukraina, chiar satele vecine, la est, multi sateni se duc cu lucrul, cu ziua, la UKR, doar trec brazda.
iata niste omeni moldoveni au fost intr-un sat vecin ukrainean la un mort. la vama, vamesii in rusa ii intreba:
-gde bili?
astea se uita lung unul la altul, zi incep sa traduca, mort-smerti‘
-mi bili na smerti‘
-i chto vi tam delali, vamesul.
astea iar se gindesc, am dus capacul mortului.
-mi nesli krishu smerti.
-a chto u vas v sumke?
astea in geanta aveau poduri, se dau asa un fel de grengute legate cu bomboane.
- u nas, mosti.
-a u tebia? vameshul.
-a u menia povorot s brinzoi….(invirtita cu brinza)

 

 

 

asa a patit un moldovean cind a mers prima data in RO,
gazda il intreaba, vrei sa te culci cu Vitzica Codrului?
el se gindeste, uite, ce ospitalitate, am venit la ei prima oara si vor sa ma culce cu vitele. a dormit singur.

a doua dimineatza, vine la el o fata frumoasa, si se prezinta:
-Vitzica Codrului.
el se uita nedumerit si zice:
-Boul din Moldova.

 

?̀titi de ce Moldovei i se mai spune Computerland?

Pentru cAƒ de fiecare datAƒ când se intilnesc doi moldoveni,unul dintre ei îi spune celuilalt:-Ai biem ?Ÿeva!

 

asa ar trebui sa arate centura de siguranta la o femeie:))

 

 

 

 

Warren Buffett Biography
Mood:  a-ok
Topic: Economic

The Story of Berkshire Hathaway's Billionaire Chairman

Warren Buffett is Born

Warren Edward Buffett was born on August 30, 1930 to his father Howard, a stockbroker-turned-Congressman. The only boy, he was the second of three children, and displayed an amazing aptitude for both money and business at a very early age. Acquaintances recount his uncanny ability to calculate columns of numbers off the top of his head - a feat Warren still amazes business colleagues with today.

At only six years old, Buffett purchased 6-packs of Coca Cola from his grandfather's grocery store for twenty five cents and resold each of the bottles for a nickel, pocketing a five cent profit. While other children his age were playing hopscotch and jacks, Warren was making money. Five years later, Buffett took his step into the world of high finance. At eleven years old, he purchased three shares of Cities Service Preferred at $38 per share for both himself and his older sister, Doris. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them - a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing: patience is a virtue.

Warren Buffett's Education

In 1947, a seventeen year old Warren Buffett graduated from High School. It was never his intention to go to college; he had already made $5,000 delivering newspapers (this is equal to $42,610.81 in 2000). His father had other plans, and urged his son to attend the Wharton Business School at the University of Pennsylvania. Buffett stayed two years, complaining that he knew more than his professors. When Howard was defeated in the 1948 Congressional race, Warren returned home to Omaha and transferred to the University of Nebraska-Lincoln. Working full-time, he managed to graduate in only three years.

Warren Buffett approached graduate studies with the same resistance he displayed a few years earlier. He was finally persuaded to apply to Harvard Business School, which, in the worst admission decision in history, rejected him as "too young". Slighted, Warren applied to Columbia where famed investors Ben Graham and David Dodd taught - an experience that would forever change his life.

Ben Graham - Buffett's Mentor

Ben Graham had become well known during the 1920's. At a time when the rest of the world was approaching the investment arena as a giant game of roulette, he searched for stocks that were so inexpensive they were almost completely devoid of risk. One of his best known calls was the Northern Pipe Line, an oil transportation company managed by the Rockefellers. The stock was trading at $65 a share, but after studying the balance sheet, Graham realized that the company had bond holdings worth $95 for every share. The value investor tried to convince management to sell the portfolio, but they refused. Shortly thereafter, he waged a proxy war and secured a spot on the Board of Directors. The company sold its bonds and paid a dividend in the amount of $70 per share.

When he was 40 years old, Ben Graham published Security Analysis, one of the greatest works ever penned on the stock market. At the time, it was risky; investing in equities had become a joke (the Dow Jones had fallen from 381.17 to 41.22 over the course of three to four short years following the crash of 1929). It was around this time that Graham came up with the principle of "intrinsic" business value - a measure of a business's true worth that was completely and totally independent of the stock price. Using intrinsic value, investors could decide what a company was worth and make investment decisions accordingly. His subsequent book, The Intelligent Investor, which Warren celebrates as "the greatest book on investing ever written", introduced the world to Mr. Market - the best investment analogy in history.

Through his simple yet profound investment principles, Ben Graham became an idyllic figure to the twenty-one year old Warren Buffett. Reading an old edition of Who's Who, Warren discovered his mentor was the Chairman of a small, unknown insurance company named GEICO. He hopped a train to Washington D.C. one Saturday morning to find the headquarters. When he got there, the doors were locked. Not to be stopped, Buffett relentlessly pounded on the door until a janitor came to open it for him. He asked if there was anyone in the building. As luck (or fate) would have it, there was. It turns out that there was a man still working on the sixth floor. Warren was escorted up to meet him and immediately began asking him questions about the company and its business practices; a conversation that stretched on for four hours. The man was none other than Lorimer Davidson, the Financial Vice President. The experience would be something that stayed with Buffett for the rest of his life. He eventually acquired the entire GEICO company through his corporation, Berkshire Hathaway.

 

The Influence of Benjamin Graham

Ben Graham - Buffett's Mentor (Continued)
Flying through his graduate studies at Columbia, Warren Buffett was the only student ever to earn an A+ in one of Graham's classes. Disappointingly. both Ben Graham and Warren's father advised him not to work on Wall Street after he graduated. Absolutely determined, Buffett offered to work for the Graham partnership for free. Ben turned him down. He preferred to hold his spots for Jews who were not hired at Gentile firms at the time. Warren was crushed.

 

Warren Buffett Returns Home

Returning home, he took a job at his father's brokerage house and began seeing a girl by the name of Susie Thompson. The relationship eventually turned serious and in April of 1952 the two were married. They rented out a three-room apartment for $65 a month; it was run-down and served as home to several mice. It was here their daughter, also named Susie, was born. In order to save money, they made a bed for her in a dresser drawer.

During these initial years, Warren's investments were predominately limited to a Texaco station and some real estate, but neither were successful. It was also during this time he began teaching night classes at the University of Omaha (something that wouldn't have been possible several months before. In an effort to conquer his intense fear of public speaking, Warren took a course by Dale Carnegie). Thankfully, things changed. Ben Graham called one day, inviting the young stockbroker to come to work for him. Warren was finally given the opportunity he had long awaited.

 

Warren Buffett Goes to Work for Ben Graham

The couple took a house in the suburbs of New York. Buffett spent his days analyzing S&P reports, searching for investment opportunities. It was during this time that the difference between the Graham and Buffett philosophies began to emerge. Warren became interested in how a company worked - what made it superior to competitors. Ben simply wanted numbers whereas Warren was predominately interested in a company's management as a major factor when deciding to invest, Graham looked only at the balance sheet and income statement; he could care less about corporate leadership. Between 1950 and 1956, Warren built his personal capital up to $140,000 from a mere $9,800. With this war chest, he set his sights back on Omaha and began planning his next move.

On May 1, 1956, Warren Buffett rounded up seven limited partners which included his Sister Doris and Aunt Alice, raising $105,000 in the process. He put in $100 himself, officially creating the Buffett Associates, Ltd. Before the end of the year, he was managing around $300,000 in capital. Small, to say the least, but he had much bigger plans for that pool of money. He purchased a house for $31,500, affectionately nicknamed "Buffett's Folly", and managed his partnerships originally from the bedroom, and later, a small office. By this time, his life had begun to take shape; he had three children, a beautiful wife, and a very successful business.

Over the course of the next five years, the Buffett partnerships racked up an impressive 251.0% profit, while the Dow was up only 74.3%. A somewhat-celebrity in his hometown, Warren never gave stock tips despite constant requests from friends and strangers alike. By 1962, the partnership had capital in excess of $7.2 million, of which a cool $1 million was Buffett's personal stake (he didn't charge a fee for the partnership - rather Warren was entitled to 1/4 of the profits above 4%). He also had more than 90 limited partners across the United States. In one decisive move, he melded the partnerships into a single entity called "Buffett Partnerships Ltd.", upped the minimum investment to $100,000, and opened an office in Kiewit Plaza on Farnam street.

In 1962, a man by the name of Charlie Munger moved back to his childhood home of Omaha from California. Though somewhat snobbish, Munger was brilliant in every sense of the word. He had attended Harvard Law School without a Bachelor's Degree. Introduced by mutual friends, Buffett and Charlie were immediately drawn together, providing the roots for a friendship and business collaboration that would last for the next forty years.

Ten years after its founding, the Buffett Partnership assets were up more than 1,156% compared to the Dow's 122.9%. Acting as lord over assets that had ballooned to $44 million dollars, Warren and Susie's personal stake was $6,849,936. Mr. Buffett, as they say, had arrived.

Wisely enough, just as his persona of success was beginning to be firmly established, Warren Buffett closed the partnership to new accounts. The Vietnam war raged full force on the other side of the world and the stock market was being driven up by those who hadn't been around during the depression. All while voicing his concern for rising stock prices, the partnership pulled its biggest coup in 1968, recording a 59.0% gain in value, catapulting to over $104 million in assets.

Taking Control of Berkshire Hathaway

The next year, Warren went much further than closing the fund to new accounts; he liquidated the partnership. In May 1969, he informed his partners that he was "unable to find any bargains in the current market". Buffett spent the remainder of the year liquidating the portfolio, with the exception of two companies - Berkshire and Diversified Retailing. The shares of Berkshire were distributed among the partners with a letter from Warren informing them that he would, in some capacity, be involved in the business, but was under no obligation to them in the future. Warren was clear in his intention to hold onto his own stake in the company (he owned 29% of the Berkshire Hathaway stock) but his intentions weren't revealed.

 

Warren Buffett Gains Control of Berkshire Hathaway

Buffett's role at Berkshire Hathaway had actually been somewhat defined years earlier.On May 10, 1965, after accumulating 49% of the common stock, Warren named himself Director. Terrible management had run the company nearly into the ground, and he was certain with a bit of tweaking, it could be run better. Immediately Mr. Buffett made Ken Chace President of the company, giving him complete autonomy over the organization. Although he refused to award stock options on the basis that it was unfair to shareholders, Warren agreed to cosign a loan for $18,000 for his new President to purchase 1,000 shares of the company's stock.

Two years later, in 1967, Warren asked National Indemnity's founder and controlling shareholder Jack Ringwalt to his office. Asked what he thought the company was worth, Ringwalt told Buffett at least $50 per share, a $17 premium above its then-trading price of $33. Warren offered to buy the whole company on the spot - a move that cost him $8.6 million dollars. That same year, Berkshire paid out a dividend of 10 cents on its outstanding stock. It never happened again; Warren said he "must have been in the bathroom when the dividend was declared".

In 1970, Buffett named himself Chairman of the Board of Berkshire Hathaway and for the first time, wrote the letter to the shareholders (Ken Chace had been responsible for the task in the past). That same year, the Chairman's capital allocation began to display his prudence; textile profits were a pitiful $45,000, while insurance and banking each brought in $2.1 and $2.6 million dollars. The paltry cash brought in from the struggling looms in New Bedford, Massachusetts had provided the stream of capital necessary to start building Berkshire.

A year or so later, Warren Buffett was offered the chance to buy a company by the name of See's Candy. The gourmet chocolate maker sold its own brand of candies to its customers at a premium to regular confectionary treats. The balance sheet reflected what Californians already knew - they were more than willing to pay a bit "extra" for the special "See's" taste. The businessman decided Berkshire would be willing to purchase the company for $25 million in cash. See's owners were holding out for $30 million, but soon conceded. It was the biggest investment Berkshire or Buffett had ever made.

Following several investments and an SEC investigation (after causing a merger to fail, Warren and Munger offered to buy the stock of Wesco, the target company, at the inflated price simply because they thought it was "the right thing to do". Not surprisingly, the government didn't believe them), Buffett began to see Berkshire's net worth climb. From 1965 to 1975, the company's book value rose from $20 per share to around $95. It was also during this period that Warren made his final purchases of Berkshire stock (when the partnership dolled out the shares, he owned 29%. Years later, he had invested more than $15.4 million dollars into the company at an average cost of $32.45 per share). This brought his ownership to over 43% of the stock with Susie holding another 3%. His entire fortune was placed into Berkshire. With no personal holdings, the company had become his sole investment vehicle.

In 1976, Buffett once again became involved with GEICO. The company had recently reported amazingly high losses and its stock was pummeled down to $2 per share. Warren wisely realized that the basic business was still in tact; most of the problem were caused by an inept management. Over the next few years, Berkshire built up its position in this ailing insurer and reaped millions in profits. Benjamin Graham, who still held his fortune in the company, died in in September of the same year, shortly before the turnaround. Years later, the insurance giant would become a fully owned subsidiary of Berkshire.

Berkshire Hathaway Announces Charitable Giving Program

Changes in Warren Buffett's Personal Life

It was shortly thereafter one of the most profound and upsetting events in Buffett's life took place. At forty-five, Susan Buffett left her husband - in form. Although she remained married to Warren, the humanitarian / singer secured an apartment in San Francisco and, insisting she wanted to live on her own, moved there. Warren was absolutely devastated; throughout his life, Susie had been "the sunshine and rain in my [his] garden". The two remained close, speaking every day, taking their annual two-week New York trip, and meeting the kids at their California Beach house for Christmas get-togethers. The transition was hard for the businessman, but he eventually grew somewhat accustomed to the new arrangement. Susie called several women in the Omaha area and insisted they go to dinner and a movie with her husband; eventually, she set Warren up with Astrid Menks, a waitress. Within the year, she moved in with Buffett, all with Susie's blessing.

 

Warren Buffett Wants Two Nickels to Rub Together

By the late '70s, the his reputation had grown to the point that the rumor Warren Buffett was buying a stock was enough to shoot its price up 10%. Berkshire Hathaway's stock was trading at more than $290 a share, and Buffett's personal wealth was almost $140 million. The irony was that Warren never sold a single share of his company, meaning his entire available cash was the $50,000 salary he received. During this time, he made a comment to a broker, "Everything I got is tied up in Berkshire. I'd like a few nickels outside."

This prompted Warren to start investing for his personal life. According to Roger Lowenstein's "Buffett", Warren was far more speculative with his own investments. At one point he bought copper futures which was unadulterated speculation. In a short time, he had made $3 million dollars. When prompted to invest in real estate by a friend, he responded "Why should I buy real estate when the stock market is so easy?"

 

Berkshire Hathaway Announces Charitable Giving Program

Later, Buffett once again showed his tendency of bucking the popular trend. In 1981, the decade of greed, Berkshire announced a new charity plan which was thought up by Munger and approved by Warren. The plan called for each shareholder to designate charities which would receive $2 for each Berkshire share the stockholder owned. This was in response to a common practice on Wall Street of the CEO choosing who received the company's hand-outs (often they would go to the executive's schools, churches, and organizations). The plan was a huge success and over the years the amount was upped for each share. Eventually, the Berkshire shareholders were giving millions of dollars away each year, all to their own causes. The program was eventually discontinued after associates at one of Berkshire's subsidiaries, The Pampered Chef, experienced discrimination because of the controversal pro-choice charities Buffett chose to allocate his pro-rated portion of the charitable contribution pool. Another important event around this time was the stock price which hit $750 per share in 1982. Most of the gains could be attributed to Berkshire's stock portfolio which was now valued at over $1.3 billion dollars.

 

Nebraska, Furniture Mart, Scott Fetzer, Coca-Cola and the Corporate Jet

Warren Buffett Buys Nebraska Furniture Mart, Scott Fetzer and an Airplane for Berkshire Hathaway

For all the fine businesses Berkshire had managed collect, one of the best was about to come under its stable. In 1983, Warren Buffett walked into Nebraska Furniture Mart, the multi-million dollar furniture retailer built from scratch by Rose Blumpkin. Speaking to Mrs. B, as local residents called her, Buffett asked if she would be interested in selling the store to Berkshire Hathaway. Blumpkin's answer was a simple "yes", to which she responded she would part for "$60 million". The deal was sealed on a handshake and one page contract was drawn up. The Russian-born immigrant merely folded the check without looking at it when she received it days later.

Scott & Fetzer was another great addition to the Berkshire family.

The company itself had been the target of a hostile takeover when an LPO was launched by Ralph Schey, the Chairman. The year was 1984 and Ivan Boesky soon launched a counter offer for $60 a share (the original tender offer stood at $50 a share - $5 above market value). The maker of Kirby vacuum cleaners and World Book encyclopedia, S&F was panicking. Buffett, who had owned a quarter of a million shares, dropped a message to the company asking them to call if they were interested in a merger. The phone rang almost immediately. Berkshire offered $60 per share in cold, hard, cash. When the deal was wrapped up less than a week later, Berkshire Hathaway had a new $315 million dollar cash-generating powerhouse to add to its collection. The small stream of cash that was taken out of the struggling textile mill had built one of the most powerful companies in the world. Far more impressive things were to be done in the next decade. Berkshire would see its share price climb from $2,600 to as high as $80,000 in the 1990's.

In 1986, Buffett bought a used Falcon aircraft for $850,000. As he had become increasingly recognizable, it was no longer comfortable for him to fly commercially. The idea of the luxury was hard for him to adjust to, but he loved the jet immensely. The passion for jets eventually, in part, led him to purchase Executive Jet in the 90's.

The 80's went on with Berkshire increasing in value as if on cue, the only bump in the road being the crash of 1987. Warren, who wasn't upset about the market correction, calmly checked the price of his company and went back to work. It was representative of how he viewed stocks and businesses in general. This was one of "Mr. Market's" temporary aberrations. It was quite a strong one; fully one-fourth of Berkshire's market cap was wiped out. Unfazed, Warren plowed on.

I'll Take a Coke

A year later, in 1988, he started buying up Coca-Cola stock like an addict. His old neighbor, now the President of Coca-Cola, noticed someone was loading up on shares and became concerned. After researching the transactions, he noticed the trades were being placed from the Midwest. He immediately thought of Buffett, whom he called. Warren confessed to being the culprit and requested they don't speak of it until he was legally required to disclose his holdings at the 5% threshold. Within a few months, Berkshire owned 7% of the company, or $1.02 billion dollars worth of the stock. Within three years, Buffett's Coca-Cola stock would be worth more than the entire value of Berkshire when he made the investment.

 

Warren Buffett's Money and Reputation On the Line During the Solomon Scandal

By 1989, Berkshire Hathaway was trading at $8,000 a share. Buffett was now, personally, worth more than $3.8 billion dollars. Within the next ten years, he would be worth ten times that amount. Before that would happen, there were much darker times ahead (read The Solomon Scandal).

 

Warren Buffet at the Turn of the Millennium

During the remainder of the 1990's, the stock catapulted as high as $80,000 per share. Even with this astronomical feat, as the dot-com frenzy began to take hold, Warren Buffett was accused of "losing his touch". In 1999, when Berkshire reported a net increase of 0.5% per share, several newspapers ran stories about the demise of the Oracle. Confident that the technology bubble would burst, Warren Buffett continued to do what he did best: allocate capital into great businesses that were selling below intrinsic value. His efforts did not go unrewarded. When the markets finally did come to their senses, Warren Buffett was once again a star. Berkshire's stock recovered to its previous levels after falling to around $45,000 per share, and the man from Omaha was once again seen as an investment icon.

 

 

 

 

 

 

Piete de capital
Mood:  a-ok
Topic: Economic

Tipuri de contracte bursiere
Mood:  a-ok
Topic: Economic

Ce sunt si cum se incheie tranzactiile spot, forward, futures

Tranzactia spot: o intelegere intre un cumparator si un vanzator de a cumpara, respectiv de a vinde o anumita cantitate de marfa la un anumit pret cu livrare si plata imediata. Exemple: cumparaturile la piata, un schimb valutar, cumpararea sau vanzarea de actiuni la bursa. Contractul forward: o treapta intermediara intre contractul spot si cel futures in sensul ca apare conditia de livrare si plata la scadenta. Cumparatorul si vanzatorul negociaza toti cei trei termeni principali ai contractului, deci si termenul de livrare numit si “scadenta”. Cumparatorul este asigurat ca la un anumit moment in viitor va primi o anumita cantitate de produse contra unui pret stabilit in momentul semnarii contractului. Contractul futures: o intelegere intre un vanzator si un cumparator de a vinde/cumpara o cantitate standard de marfuri cu livrarea in viitor la o data numita “scadenta” si la un pret negociat in momentul incheierii tranzactiei.

Tipuri de contracte bursiere:

In general, un contract comercial stabileste trei termeni principali de tranzactionare al unui produs: cantitatea, pretul si termenul de livrare.

Numit si “la disponbil”, contractul spot reprezinta o intelegere intre un cumparator si un vanzator de a cumpara, respectiv de a vinde o anumita can
tiate de marfa la un anumit pret cu livrare si plata imediata.

In aceasta situatie, cantitatea si pretul se negociaza iar termenul de livrare este standardizat.

Exemple de tranzactii “spot”

Orice operatiune care presupune schimbul “marfa contra bani” cu plata si livrare pe loc sau intr-un interval de timp foarte scurt poate fi catalogata drept tranzactie “spot” (ca echivalent al termenului “spot” se mai utilizeaza denumirile “cash”, “la vedere”, “la disponibil”).

Schimburile “marfa contra bani” din pietele agroalimentare nu sunt altceva decat niste tranzactii “spot”. Clientul-cumparator negociaza cu negustorul pretul si cantitatea pentru produsele pe care doreste sa le cumpere si in momentul in care cei doi se pun de accord vanzatorul primeste banii iar cumparatorul pleaca cu marfa.

Un schimb valutar efectuat la ghiseul unei banci sau al unei case de schimb este o tranzactie “spot”, in acest caz marfa care face obiectul schimbului fiind o anumita valuta. Schimbarea a 1.000 dolari SUA in lei inseamna de fapt vanzarea dolarilor SUA contra leilor romaniesti. De asemenea, tranzactiile efectuate de bancile comerciale pe piata valutara interbancara sunt de tip “spot”, acestea negociind intr-un cadru organizat cantitatile si preturile diferitelor valute. Aceasta piata este pe plan international una din cele mai mari din punct de vedere al volumului de schimburi (se mai numeste si piata Forex sau FX).

De asemenea, piata de capital este una de tip “spot” chiar daca in acest caz intervine un mic interval de timp necesar efectuarii decontarilor intre intermediari. Tranzactiile pe aceasta piata presupun clasicul schimb “marfa contra bani”, marfa fiind de aceasta data reprezentata de actiuni, titluri de stat, diverse obligatiuni, etc. Nimeni nu poate cumpara actiuni daca nu dovedeste ca detine banii necesari.

Primele burse de marfuri au aparut ca locatii centralizate pentru tranzactiile spot.

Concluzie:

contractul spot

cantitate: negociabila
pret: negociabil
termen livrare: standardizat (pe loc sau foarte scurt)

Contractul forward

Acest tip de contract reprezinta o treapta intermediara intre contractul spot si cel futures in sensul ca apare conditia de livrare si plata la scadenta. Cumparatorul si vanzatorul negociaza toti cei trei termeni principali ai contractului, deci si termenul de livrare numit si “scadenta”.

Printr-un astfel de contract, cumparatorul este asigurat ca la un anumit moment in viitor va primi o anumita cantitate de produse contra unui pret stabilit in momentul semnarii contractului. Principalul avantaj al contractului forward il constituie siguranta pretului.

Pe langa siguranta pretului, contractul forward trebuie sa confere celor doua parti si o siguranta a schimbului “marfa contra bani”. Daca la scadenta vanzatorul refuza sa livreze produsele atunci, odata cu marfa, cumparatorul pierde si pretul negociat cu mult timp inainte. La fel, daca cumparatorul refuza sa plateasca marfa la scadenta, vanzatorul ramane cu produsele nevandute si trebuie sa gaseasca alt cumparator in alte conditii de pret. In cazul in care pretul produselor respective scade, el va inregistra o pierdere.

Pentru eliminarea riscului de contraparte, o clauza a contractului forward stipuleaza ca cei doi participanti la schimb trebuie sa constituie o garantie in bani (de obicei un anumit procent din valoarea marfurilor ce fac obiectul contractului) care va fi pastrata pana la scadenta de catre o terta persoana. In cazul neexecutarii contractului la scadenta, partea vinovata pierde garantia in favoarea celeilalte. Aceasta garantie nu este altceva decat o masura de asigurare a bunei executii a contractului la scadenta.

Exemple de contracte “forward “

Bancile ofera clientilor care deruleaza operatiuni in valuta posibilitatea “blocarii” cursului pentru un anumit interval de timp (o luna, 3, 6 luni sau chiar un an).

Sa luam situatia unui importator roman care cumpara de la un partener din Germania produse in valoare de 200.000 Euro, urmand sa le primeasca si sa le achite peste 2 luni. Produsele importate le vinde pe piata interna la pretul de 800.000 lei. In momentul semnarii contractului, importatorul nu-si poate estima cu exactitate profitul din cauza cursului valutar RON/EURO (marfa se achizitioneaza in euro si se incaseaza in lei). La momentul semnarii contractului de import cursul RON/EURO este 3.5000. Daca ar plati produsele imediat, importatorul ar trebui sa cumpere cei 200.000 Euro la cursul de mai sus si pretul in lei al marfurilor va fi de

200.000 x 3.5000 = 700.000 lei

iar profitul obtinut din vanzarea lor partenerilor locali va fi de

800.000 – 700.000 = 100.000 lei

Intrucat valuta va fi cumparata abia peste 2 luni, importatorul roman nu stie cat va fi la momentul respectiv cursul RON/EURO si deci nu-si poate estima in lei costul de achizitie al produselor.

Daca peste 2 luni Euro se va aprecia in fata leului atunci el va fi avantajat intrucat va plati mai putini lei pentru cei 200.000 EURO. La un curs de 3.4000 RON/EURO costul in lei al produselor importate va fi de

200.000 x 3.4000 = 680.000 lei

iar profitul dupa vanzarea lor

800.000 – 680.000 = 120.000 lei

In situatia in care Euro se va deprecia fata de leu, importatorul va plati mai mult la achizitionarea valutei. La un curs de 3.6000 RON/EURO la scadenta contractului, costul produselor importate va fi de

200.000 x 3.6000 = 720.000 lei

iar profitul obtinut

800.000 – 720.00 = 80.000 lei

Iata deci intr-o prezentare simplista modul cum fluctuatia cursului valutar poate influenta profitul unei companii.

Pentru eliminarea acestui risc, importatorul poate alege una din urmatoarele solutii:

- sa cumpere cei 200.000 Euro in momentul semnarii contractului si sa plateasca produsele imediat. In acest caz el va trebui sa se lipseasca de acesta suma pentru cel putin 2 luni timp in care nu va avea ce vinde (marfa soseste abia peste 2 luni).

- sa vanda mai departe produsele pe piata interna cu pretul exprimat in Euro. In aceasta situatie, daca euro se depreciaza comparativ cu leul dupa ce plateste importul si incepe sa incaseze de la partenerii locali marfa livrata, incasarile lui in lei se vor diminua afactandu-I profitul. Deci nici in acest caz riscul valutar nu dispare in totaliate.

- Sa mareasca pretul in lei al produselor cu o marja care sa-i asigure profitul estimat in cazul unei deprecieri a leului in urmatoarele 2 luni. Aici va avea de pierdut in fata concurentei prin pretul mai mare practicat pentru produse.

- Sa incheie un contract forward cu o banca prin care sa cumpere cei 200.000 Euro in momentul contractarii importului.

- Sa cumpere cei 200.000 euro pe piata futures pe o scadenta cat mai apropiata de scadenta contractului sau comercial.

Ultimele doua variante ii asigura importatorului eliminarea totala a riscului valutar. Vom prezenta in continuare varianta contractului forward urmand ca ultima varianta sa fie prezentata la momentul abordarii teoriei contractului futures.

Importatorul poate incheia un contract forward valutar in suma de 200.000 euro avand ca partener in tranzactie orice banca comerciala care ofera acest produs. Contractul ii va oferi acestuia posibilitatea de a cumpara 200.000 euro peste 2 luni la un curs negociat cu banca respectiva. Sa presupunem ca acest curs negociat cu banca partenera in tranzactie este de 3.5500 RON/EUR. Aceasta inseamna ca la scadenta, indiferent de cat va fi cotatia RON/EUR pe piata valutara spot, importatorul va plati pentru cei 200.000 euro

200.000 x 3.5500 = 710.000 lei

Astfel, el isi va putea vinde produsele pe piata interna cu pret exprimat in lei si va realiza un profit de

800.000 – 710.000 = 90.000 lei in conditii de deplina siguranta.

Pentru acest contract, el va trebui sa depuna la banca o garantie de buna executie a contractului, sa spunem de 10% din valoarea lui (71.000 lei).

La scadenta contractului importatorul va plati bancii restul de 639.000 lei (710.00 lei minus avansul de 71.000 lei depus la semnarea contractului forward) si va primi in schimb 200.000 Euro cu care va achita contravaloarea importului. Daca la scadenta el refuza sa cumpere cei 200.000 Euro conform contractului, va pierde cei 71.000 lei. (Garantia de 10 % utilizata in acest exemplu este orientativa, bancile putand sa perceapa valori mai mari sau mai mici in functie de nivelul de risc pe care il tolereaza).

Pentru exportatori, situatia este si mai presanta intrucat ei nu au posibilitatea sa vanda din timp valuta pe care o vor incasa in viitor. Daca un importator poate cumpara valuta necesara platii in momentul contractarii importului, un exportator care incaseaza suma in devize la termenul stabilit prin contractul de export nu poate decat sa astepte scadenta contractului pentru a face schimbul valutar.

Si in cazul exportatorilor operatiunea forward functioneaza intr-un mod similar cu cel al importatorilor. Singura diferenta consta in pozitia de vanzator la termen pe care trebuie sa o ia acesta in tranzactia cu banca. La scadenta contractului exportatorul incaseaza valuta pe care o vinde bancii la cursul de schimb stabilit in momentul incheierii contractului forward.

Aparitia contractelor forward a adus un plus de siguranta tuturor comerciantilor care derulau operatiuni la termen. In cadrul unor piete specializate, producatorii agricoli isi puteau vinde produsele cu mult timp inainte de recoltarea lor prin simpla semnare a unui contract forward.

Concluzie: contractul forward reprezinta o forma de asigurare a pretului si a livrarii produsului pentru o data viitoare.

cantitate: negociabila
pret: negociabil
termen livrare: negociabil

Contractul futures

Contractele futures reprezinta o forma perfectionata a contracului forward. Cu toate avantajele prezentate mai sus, contractul forward nu lasa partenerilor in tranzactie nici o posibilitate de iesire din pozitii. Daca cumparatorul nu mai are nevoie de marfa respective la scadenta, el nu poate anula intelegerea din contractul forward intrucat pierde garantia. La fel pateste si vanzatorul daca nu mai doreste sa vanda sau sa livreze la scadenta. Practic cele doua parti, negociind intre ele termenii contractului, sunt “captive” in interiorul clauzelor lui.

Prin standardizarea tuturor clauzelor sale si mai ales prin faptul ca pretul este negociat in continuu intre mai multi participanti, contractul futures beneficiaza de cea mai mare flexibilitate in utilizare. Fiind foarte standardizat, el poate fi transmis intre mai multi participanti in cadrul unor tranzactii succesive.

Contractul futures este o intelegere intre un vanzator si un cumparator de a vinde / cumpara o cantitate standard de marfuri cu livrarea in viitor la o data numita “scadenta” si la un pret negociat in momentul incheierii tranzactiei.

Negocierea pretului se face in cadrul unei burse care ofera locatia necesara si stabileste regulile de negociere si admitere a participantilor la negociere. Pana la sfarsitul secolului XX, negociarea preturilor diferitelor marfuri pe pietele futures se facea de catre persoane calificate numite brokeri. Fiecare broker negocia si incheia contracte futures sau cu optiuni in numele clientilor sai in locuri special amenjate in cadrul bursei. Odata cu dezvoltarea acestor piete, au aparut societati specializate in intermedierea cererii si ofertei pe piata futures. Fiecare astfel de societate isi angaja unul sau mai multi brokeri in ringul bursei (pit-brokers) carora le transmitea ordinele de tranzactionare primite de la clienti. De asemenea, a aparut si o categorie aparte de jucatori pe aceste piete – traderii – care tranzactionau in ringuri cot la cot cu brokerii, insa pe cont propriu.

Odata cu dezvoltare tehnicilor de comunicatie si calcul, bursele clasice au inceput sa dispara, locul lor fiind luat de servere performate si platforme electronice de tranzactionare, iar brokerii s-au mutat din ringuri in fata ecranelor de tranzactionare.

Ca si in cazul contractului forward, garantarea bunei executii a contractului futures este o componenta esentiala in procesul de tranzactionare. In momentul incheierii unui contract pe piata futures, atat vanzatorul cat si cumparatorul depun o garantie baneasca la o terta persoana independenta. Pe piata futures, aceasta persoana este Casa de Compensatie. Fie ca este o societate independenta de bursa sau un departament in cadrul bursei, aceasta entitate colecteaza garantiile necesare de la toti participantii si calculeaza zilnic situatia financiara a fiecarui participant in functie de miscarile preturilor pe piata futures garantand in acelasi timp acestora ca obligatiile asumate de contrapartea in tranazactii vor fi respectate. Acest proces se numeste compensare. De asemenea, Casa de Compensatie calculeaza zilnic profiturile si pierderile realizate de catre participanti realizand transferurile de bani din contul celor care au pierdut in contul celor care au castigat. Acest proces se numeste decontare. Practic, Casa de Compensatie intervine in fiecare tranazactie realizata pe piata futures cumparand de la vanzatori si vanzand cumparatorilor. Astfel, fiecare participant pe aceasta piata incheie tranzactii cu contrapartea sa prin intermediul Casei de Compensatie. Acest proces se numeste garantare.

Scurta istorie a pietelor futures

O definitie simpla a termenului “piata” extrasa dintr-un dictionar explicativ spune ca aceasta este “loc special amenajat, de obicei intr-o localitate de tip orasenesc, unde se vand si se cumpara diferite produse agricole si industriale” (sursa: http://dexonline.ro/search.php?cuv=piata&source=).

Doua expresii trebuie retinute din aceasta definitie: “loc special amenajat” si “se vand si se cumpara produse”.

Intr-o prima forma de organizare, acest “loc special amenajat” reprezenta o zona la marginea unei localitati unde vanzatorii si cumparatorii se intalneau regulat pentru a face comert cu produse agricole si animale. Taxa perceputa de proprietarul locatiei reprezinta prima forma de comision de tranzactionare.

Urmatoarea faza in organizarea “pietei” a constituit-o specializarea in tranzactionarea fizica a anumitor marfuri. Au aparut astfel piete in care se tranzactionau doar cereale, animale, metale, pietre pretioase, flori, etc. schimbul marfa contra bani facandu-se pe loc.

Standardizarea marfurilor destinate schimbului comercial a condus la cresterea volumului de tranzactii, aparitia unor titluri pe marfuri si a unei noi categorii de participanti: speculatorii – intermediari care nu sunt interesati in mod direct de marfa ci doar de specularea pretului ei.

In aceasta etapa consemnam infiintarea primelor burse ca “institutii unde se negociaza hartii de valoare si valute straine sau unde se desfasoara tranzactii de marfuri” (sursa: http://dexonline.ro/search.php?cuv=bursa&source=). Practic bursele au preluat rolul pietelor devenind institutiile care stabilesc regulile de tranzactionare a marfurilor punand totodata la dispozitie comerciantilor o locatie destinata negocierii preturilor si consemnarii tranzactiilor. In cadrul lor vanzatorii si cumparatorii negociau de multe ori doar cantitatea si pretul, marfa fiind livrata ulterior pe baza unor documete care atestau existenta acesteia intr-un loc special amenajat.

Revolutia industriala din sec XIX si dezvoltarea comunicatiilor a determinat o explozie a acestor tranzactii adaugand noi dimensiuni termenului de “bursa”. Nevoia de finantare a companiilor si-a gasit solutia tot pe aceste piete, bursele dandu-le acestora posibilitatea de atragere de capital prin oferirea de actiuni spre vanzare publicului. De asemenea, statul insusi ajuns sa se finanteze de pe aceasta piata prin emiterea catre public a unor titluri de valoare (titluri de trezorerie, obligatiuni municipale, etc).

Expansiunea sectorului bursier a culminat la sfarsitul secolului XIX cu aparitia pietelor futures. Pe aceste piete se se tranzactioneaza instrumente derivate, in special contracte futures si optiuni. Motivul principal al aparitiei acestor produse a fost nevoia producatorilor si comerciantilor de a-si acoperi riscurile de fluctuatie a pretului marfurilor de-a lungul timpului.

In prezent, valoarea tranzactiilor financiare pe pietele organizate la nivel international este impresionant, situandu-se undeva aproape de 2 trilioane de dolari / zi (aproximativ 1,9 trilioane pe piata valutara internationala, 50 miliarde pe piata de capital si 30 miliarde pe pietele derivate – sursa: www.xpresstrade.com)

Primele piete derivate organizate au aparut in Europa, in secolul al XVII-lea, insa prima bursa de marfuri a fost infiintata cu mult inainte, la Anvers in 1531, in cadrul ei incheindu-se tranzactii cu marfuri coloniale.

In Amsterdam, la inceputul secolului al XVII-lea, marfurile se puteau tranzactiona intr-un sistem apropiat de cel practicat astazi pe pietele derivate. Cumparatorul si vanzatorul conveneau asupra unui pret, a unei cantitati si a unui termen de livrare pentru marfa tranzactionata.

Burse au mai fost infiintate la Londra (1554), Bassel (1699), Paris (1724), Viena (1761), New York (1792), Bruxelles (1801), Milano (1833), Roma (1827), Madrid (1831), Geneva (1850), Tokyo (1855).

Istoria moderna a pietei futures incepe in 1848 in SUA, odata cu infiintarea la Chicago a unei piete futures (sau la termen) administrata de Chicago Board of Trade (CBOT). Primele contracte futures au avut ca obiect produsele agricole urmate mai tarziu de metale si in final de instrumente financiare (obligatiuni, rate ale dobanzii si indici bursieri), iar in 1982 au fost lansate optiunile pe contracte futures.

Chicago Mercantile Exchange (CME) este bursa care administreaza cea mai mare piata de instrumente derivate din SUA. Infiintata in 1898 si specializata la inceput tot in tranzactii futures pe produse agricole, CME s-a dezvoltat de-a lungul secolului XX ajungand la un volum de 325 milioane contracte futures in cursul anului 2004. Derivatele listate la CME au ca active suport rate de schimb valutar, indici bursieri, produse agricole si rate ale dobanzii.

Mineapolis Grain Exchange (MGEX) s-a infiintat in 1881 sub denumirea de Camera de Comert din Mineapolis si a lansat primul contract futures in 1883 avand ca activ suport graul de panificatie. In 1947 s-a trecut la denumirea actuala. Pricipalulele produse tranzactionate la MGEX sunt in prezent derivatele pe grau (tranzactionate prin strigare de catre brokerii de ring) si si indici agricoli listati pe platforma electronica a CBOT.

Kansas City Board of Trade (KCBT) a fost infiintata in 1856 de catre un grup de comercianti de cereale. Fiind situata intr-o zona specializata in cultura cerealelor, derivatele lansate la infiintare si pastrate pana in prezent sunt contractele futures si optiunile pe cereale. Din 1982 la aceasta bursa se tranzactioneaza si derivste pe indicele Value Line.

New York Mercantile Exchange (NYME) are 132 de ani de experienta in tranzactionarea metalelor si a produselor energetice. In 1979 aici s-au lansat derivatele pe produse petroliere, energie electrica, aur, argint, cupru, aluminiu, platina etc, toate acestea fiind in present tranzactionate prin intermediul platformei electronice a CME.

OneChicago este o bursa specializata in tranzactionarea contractelor futures pe actiuni listate pe piata de capital din SUA. In prezent 180 de actiuni ale celor mai importante companii americane sunt listate pe piata OneChicago, iar numarul lor este intr-o crestere constanta.

La sfarsitul secolului XX produsele financiare au dobandit suprematia pe piata derivatelor, cursurile valutare, ratele dobanzilor si indicii bursieri generand cel mai mare volum de tranzactionare.

Actualmente, pe plan mondial cele mai representative burse futures sunt:

Chicago Board of Trade si Chicago Mercantile
London International Financial Futures and Options Exchange - LIFFE
Marché a Terme International de France – MATIF
Deutsche Terminbourse – DTB
Tokyo Commodity Exchange TOCOM
Tokyo International Financial Futures Exchange TIFFE
Sydney Futures Exchange SFE
Brasilian Futures exchange BBF
Hong Kong Futures Exchange HKFE
Singapore International Monetary Exchange SIMEX
Swiss Financial Futures Exchange SOFFEX

Lista completa a burselor futures poate fi accesata la adresa:
http://www.numa.com/ref/exchange.htm#RO

In Romania, primele initiative de organizare a unei burse de marfuri au aparut in 1840 cand, in ziarul “Mercurul Brailei” era preentat Codul de Comert care cuprindea prima reglementare generala a bursei de comert in Muntenia.
Istoria moderna a pietei futures in Romania incepe in 1997 cand, la Bursa Monetar Financiara si de Marfuri din Sibiu (BMFMS) au fost lansate primele contracte futures.
Infiintata in 1994 si avand initial ca obiect de activitate intermedierea tranzactiilor cu marfuri, bursa de la Sibiu s-a specializat cu timpul in administrarea pietelor de instrumente financiare derivate. Din 1997 si pana in prezent pe piata BMFMS au fost tranzactionate peste 1.7 milioane contracte futures si cu optiuni.
Din 1994 si pana in 2003 in Romania s-au infiintat mai multe burse de marfuri in toate regiunile tarii (Sibiu, Bucuresti, Constanta, Iasi, Brasov, Cluj, Timisoara, Braila, Piatra Neamt), majoritatea optand pentru activitatea de intermediare fizica a marfurilor. Doar bursele din Sibiu, Bucuresti, Constanta si Timisoara au abordat segmentul tranzactiilor cu instrumente derivate, iar in prezent singura piata din Romania pe care se tranzactioneaza derivate este cea a BMFMS.

(Extrase din cursul de initiere in tranzactionarea pe pietele derivate predat de Asociatia Nationala a Operatorilor la Termen din Romania).

 

Experiente de dincolo de moarte: care este ultimul sentiment care dispare?
Topic: Emotii si clipe

"Daca va fi sa te infierbanti, infierbanta-te la soare. Daca va fi sa inseli, inseala-ti stomacul. Daca va fi sa plangi, plange de bucurie. Daca va fi sa minti, minte in privinta varstei tale. Daca va fi sa furi, fura o sarutare. Daca va fi sa pierzi, pierde-ti frica. Daca va fi sa simti foame, simte foame de iubire. Daca va fi sa doresti sa fii fericit, doreste-ti in fiecare zi..." (Pablo Neruda, poet si om politic chilian, laureat al premiului Nobel pentru literatura in 1971).

Viata este, ce-i drept, o petrecere la care avem impresia ca am ajuns neinvitati. Prea tarziu ne dam seama ca este cea mai tare petrecere de care puteam avea vreodata parte. "Hell of a party", cum ar spune americanii. Numai ca, la un moment dat, scopul nostru la aceasta petrecere a fost atins si trebuie sa plecam. Care parte din noi refuza sa plece? Care este ultima picatura de viata din noi care moare?

Potrivit studiilor si imaginandu-ne ca nu exista reincarnare, moartea pamanteana intervine atunci cand sufletul se desprinde de corp. Sufletul omului este ceea ce reprezinta o fiinta omeneasca din momentul in care s-a nascut si pana a murit. Din toate sertarele sufletului, pline cu felii de viata, in care stau emotiile, lacrimile, cu sentimente si planuri, cu trairi de moment si amintiri, cu stari proaste si sunete de chitara, care paseste ultimul pe drumul fara intoarcere?

Oamenii vor sa creada ca in momentul mortii, "doamna care cumpara o scara spre Rai", cum spun cei de la Led Zeppelin, este regizorul unui film alb negru ce da viata celor mai intense trairi, deciziilor cruciale pe care le-am luat, efectele lor, depanand un fir ce trebuie sa fie taiat odata cu finalul filmului.

Moartea clinica

Unii oameni au parte, pe langa filmul final, si de o repetitie: moartea clinica, care este starea organismului in conditiile opririi complete a circulatiei respiratiei si activitatii functionale a creierului. Durata mortii clinice esre intre 3 si 5 minute, iar in cazul hipotermiei durata poate ajunge chiar si la doua ore. Spre deosebire de moartea adevarata, moartea clinica este o stare reversibila daca se actioneaza la timp.

In starea de moarte clinica, bolnavul este inconstient, are tegumentele cenusii, nuanta cianotica, extremitatile reci, iar reflexul cornean absent. Este absent pulsul la artera carotida si zgomotele cardiace nu se asculta.Respiratia este fie absenta, de de tip agonal.

In general, sansele de supravietuire scad enorm daca resuscitarea respiratorie si cerebrala deurgenta (de baza) nu au fosy facute dupa 4-5 minute de la declansarea stopului cardiac. Prognosticul este bun la pacientii fara suferinta cardiace sau cu suferinte cardiace de severitate medie si este rezervat la pacientii cu infarct miocardic complicat (anevrism ventricular, insuficienta cardiaca), care au tendinta la recidiva. In 8-31% din cazuri, resuscitarea respiratorie si cerebrala a fost facut cu succes.

Povesti din moarte clinica

Toata lumea a auzit expresia "lumina de la capatul tunelului". Ea isi are originea in experientele unor oameni care declara ca au murit, dar au revenit in lumea celor vii. Descrierile lumii "de dincolo", facute de cei care s-au aflat in moarte clinica uimesc, sperie sau dau nastere unor critici vehemente.

Moartea clinica survine in momentul in care bataile inimii si respiratia se opresc. Persoana poate fi resuscitata timp de maxim 45 de minute, dupa aceasta perioada de timp fiind constatat decesul. Dupa aproximativ 10 minute creierul incepe sa se deterioreze din cauza lipsei de oxigen.

Foarte multe persoane care s-au aflat in moare clinica povestesc experientele prin care au trecut cat timp inima lor a incetat sa mai bata. Aceste descrieri au primit numele de "near death experience" (experiente aproape de moarte sau NDE) si au aparut intr-un numar foarte mare de la inventia tehnicilor de resuscitare.

Se aproximeaza ca opt milioane de americani au avut astfel de experiente, cat timp se aflau in moarte clinica. Decrierile au, in majoritatea cazurilor, un numitor comun: trecerea printr-un tunel la capatul caruia se afla o lumina. Alte persoane povestesc felul in care si-au vazut propriul corp, de la inaltime, ca si cum ar fi stat deasupra lui, si au dat descrieri detaliate ale felului in care medicii au efectuat resuscitarea.

Multe persoane vad in povestirile celor care s-au aflat in moarte clinica drept o dovada incontestabila a existentei spiritului uman si ale vietii de dupa moarte. Faptul ca unii povestesc intalniri cu fiinte luminoase care li s-au adresat si le-au ordonat sa se intoarca, ofera argumente in favoarea existentei lui Dumnezeu, pentru credinciosi.

Scepticii considera ca declaratiile celor aflati la un pas de moarte sunt doar halucinatii cauzate de distrugerea treptata a celulelor creierului.

Altii sustin ca cei care povestesc despre tunel sau lumini sunt pur si simplu influentati de faptul ca exista milioane de astfel de descrieri si doresc sa obtina atentie si compasiune. S-a stabilit ca persoanele care au trecut prin moartea clinica sunt profund afectate si vorbesc despre felul in care doresc sa-si traiasca viata mai bine, sa se bucure de fiecare moment sau sa faca toate lucrurile pe care nu le-au putut face pana in acel moment.

Multi atribuie schimbarile la nivelul perceptiei asupra vietii faptului ca oamenii devin mai constienti ca vor muri la un moment dat, iar acest lucru ii sperie. Caracteristicile NDE sunt de domeniul psihologiei, fiziologiei si transcedentalului. Aceste trasaturi se succed intr-o ordine precisa, dupa cum declara cei care s-au aflat in moarte clinica.

Persoana realizeaza ca a murit, simte ca pluteste, vede clar spatiul in care se afla, apoi se simte calma si relaxata. Apoi, ceea ce multi numesc "spirit" este cuprins de o stare de iubire si pace, iar persoana simte ca se misca in sus, printr-un tunel stramt.

Unii povestesc ca la capatul tunelului si-au intalnit rudele moarte sau ca acestea au venit sa le ghideze pe parcursul calatoriei. Altii spun ca s-au intalnit cu o fiinta "din lumina", posibil o zeitate sau o entitate spirituala superioara. Unii povestesc ca au ajuns la un hotar de unde au simtit ca se intorc in propriul corp sau chiar li s-a ordonat sa faca acest lucru.

Potrivit medicilor, descrierile sunt cauzate de eliberarea in corp a unor substante imediat dupa oprirea batailor inimii. Acestei teorii i se opun mii de oameni care se declara convinsi ca au vazut "viata de dupa moarte". "Cat timp nu am fost constient, m-am trezit, departe de corpul meu intr-un intuneric deplin. Acel intuneric era infinit, dar avea o culoare pe care nu o pot descrie, avea densitate, dar era foarte clar.

Puteam sa vad in toate directiile si sa ma misc unde doream la orie viteza vroiam. Desi nu aveam corp, puteam vedea ca si cum as fi avut ochi, dar nu trebuia sa respir. Am simtit o pace deplina, dragoste si fericire. In departare am vazut o lumina, ca o usa. Nu m-am dus catre lumina, caci nu am simtit nevoia", este povestea unui om aflat in moarte clinica.

Un alt barbat povesteste cum arata tunelul. "Nu o sa incerc sa descriu culorile superbe si vii, sentimentul de pace, de impacare, de comfort. Tunelul era larg si era rotund si moale. Avea o culoare albastra, era cald, linistitor. Am inceput sa ma misc inainte si am inceput sa vad intamplari proiectate pe laturi, care ma invaluiau. Am inceput sa simt o legatura cu aceste intamplari si mi-am dat seama ca erau din viata mea, amintirile mele si evenimente pe care aveam sa le inteleg si sa le traiesc pe viitor".

Argumentele legate de aceste experiente sunt numeroase din ambele parti. Scepticii pot aduce explicatii medicale, dar nu pot argumenta motivul pentru care unii au descris tot ce li s-a intamplat in spital din clipa in care inima li s-a oprit. Pe de alta parte, cei care au "trecut pe partea cealalta" nu pot demonstra veridicitatea afirmat iilor lor, dar au ca dovada numarul mare de astfel de descrieri.

Ocultismul si ultimul sentiment care paraseste corpul

Pe de alta parte, din stiintele oculte aflam ca daca intregul organism ar avea aceeasi organizare ca si capul nostru, ar trebui sa murim continuu. Noi traim numai prin ceea ce este forta vitala in restul organismului nostru si este permanent trimis spre cap. Fortele prin care, in final, murim, actioneaza in capul nostru, sunt cantonate aici. Capul este o entitate care moare continuu, este o dezvoltare retrograda. Din aceasta cauza, in cap isi poate afla evolutia si spiritual-sufletescul.

O teorie oculta spune ca in cap se afla un gol, care este continuu distrus si unde patrund sufletul si spiritul. Noi purtam, prin cap, sufletul si spiritul, deoarece el se afla deja intr-o dezvoltare care omoara. Aceasta inseamna ca in capul nostru murim continuu. Elementul vointei care apartine gandirii noastre se afla in capul nostru. Dar acest element volitional este un motor, un impuls continuu spre moarte, pentru a invinge materia.

Cand murim cu adevarat, intervine vointa. In timp ce corpul este redat pamantului se continua, prin intregul nostru corp terestru apartinand acum lumii fizice, ceea ce pana la moartea noastra, incepand de la nastere, se petrece in capul nostru. Aici se desfasoara procesul care are loc cand, prin incinerare sau putrezire, oamenii sunt redati pamantului, numai ca el este continuu improspatat si franat prin ceea ce urca din restul organismului, unde se continua ceea ce omul face intre nastere si moarte prin intermediul organismului.

Procesul se continua in pamant: el gandeste dupa acelasi principiu cu care omul gandeste cu capul sau omenesc, prin faptul ca se dizolva in el, prin faptul ca in pamant sunt coborate cadavre. Deoarece trecem prin poarta mortii, noi transmitem in pamantul fizic, prin cadavrul nostru care se dizolva, un proces pe care intre nastere si moarte il confirmam in beneficiul nostru.

Ce exista in capul nostru ca evolutie distructiva este continuarea a ce era prezent inainte de nastere, respectiv inainte de conceptie.

Descompunerea incepe abia o data cu nasterea: acum primim capul, mai inainte nu a existat distrugere. Ce exista in capul nostru si prin care intram in relatii cu ceilalti oameni, cu natura exterioara, este continuarea a ceea ce traieste in lumile spirituale, inainte de a patrunde in corpul fizic. Daca putem sa intelegem in mod temeinic acest fapt, ajungem sa vedem cum intervin fortele din lumea spirituala in aceasta lume fizica. Cel mai bine intuim aceste lucruri daca nu le luam in considerare in abstracto, ci in concreto.

Fortele pe care un om le dezvolta se implica, postmortem, in ceea ce se intampla pe Pamant foarte curand dupa trecerea prin poarta mortii. Un exmplu puternic in acest sens sunt scriitorii, pictorii, oamenii politici, folosofii, muzicienii care lasa ceva in urma lor incat influenteaza in continuare viata pamanteana.

Cine moare?

Moare cate putin cine se transforma in sclavul obisnuintei, urmand in fiecare zi aceleasi traiectorii; cine nu-si schimba existenta; cine nu risca sa construiasca ceva nou; cine nu vorbeste cu oamenii pe care nu-i cunoaste.

Moare cate putin cine-si face din televiziune un guru. Moare cate putin cine evita pasiunea, cine prefera negrul pe alb si punctele pe "i" in locul unui vartej de emotii, acele emotii care invata ochii sa staluceasca, oftatul sa surada si care elibereaza sentimentele inimii.

Moare cate putin cine nu pleaca atunci cand este nefericit in lucrul sau; cine nu risca certul pentru incert pentru a-si indeplini un vis; cine nu-si permite macar o data in viata sa nu asculte sfaturile "responsabile". Moare cate putin cine nu calatoreste; cine nu citeste; cine nu asculta muzica; cine nu cauta harul din el insusi. Moare cate putin cine-si distruge dragostea; cine nu se lasa ajutat.

Moare cate putin cine-si petrece zilele plangandu-si de mila si detestand ploaia care nu mai inceteaza. Moare cate putin cine abandoneaza un proiect inainte de a-l fi inceput; cine nu intreaba de frica sa nu se faca de ras si cine nu raspunde chiar daca cunoaste intrebarea. Evitam moartea cate putin, amintindu-ne intotdeauna ca "a fi viu" cere un efort mult mai mare decat simplul fapt de a respira. Doar rabdarea cuminte ne va face sa cucerim o fericire splendida. Totul depinde de cum o traim...

Surse:
Revista "Stiinte oculte"
Reuters
Journal of Health Science

Rolul apendicelui
Mood:  bright
Topic: Hobby(medicina,sport...

Apendicele este o mica prelungire a tubului intestinal caruia nu i s-a descoperit pana acum un rol functional. De-a lungul timpului s-a considerat ca apendicele este complet inutil acesta fiind doar o ramasita a evolutiei. In caz de apendicita (inflamarea apendicelui) acesta

este indepartat pe cale chirurgicala fara ca pacientii sa resimta lipsa acestuia.

O echipa de medici chirurgi si imunologi de la Duke University Medical School au publicat un studiu in Journal of Theoretical Biology in care dezvolta o teorie conform careia scopul apendicelui ar fi acela de a proteja bacteriile ce populeaza sistemul digestiv uman si care au un rol esential in procesul de digestie.

Apendicele functioneaza ca un adapost pentru bacteriile din sistemul digestiv uman

Boli ca holera sau dizenteria amoebica pot decima populatia de bacterii utile din sistemul digestiv uman iar in acest caz rolul apendicelui ar fi de a restabili echilibrul functionand ca o protectie pentru acestea. Apendicele ar functiona ca o fabrica de bacterii asigurand repopularea florei intestinale.

 

 

Fumatul ucide!!
Mood:  accident prone
Topic: Emotii si clipe

 7 martie 2008, am facut radiologie pulmonara , asa ca voi demonstra printr-o imagine un om cu plamanii perfect  sanatosi

 

  

 

 

Mi-a aratat un san ca sa ma omoare!
Now Playing: Mi-a aratat un san ca sa ma omoare!
Topic: Faze comice reale

  astazi 9 februarie citind in ziare.com a intalnite o chestie comica:)) care mo amuzat pt moment.

 

Plangeri traznite la Parchet: Mi-a aratat un san ca sa ma omoare!

La Parchetul Bucuresti sunt inregistrate tot felul de plangeri traznite. Un batran si-a parat nora ca a vrut sa-i provoace un infarct aratandu-i sanii, mai multi cetatenii se cred urmariti de serviciile secrete, niste persoane spun ca au fost rapite de extraterestri, alte personaje "istorice" se tem sa nu fie asasinate. Sunt doar cateva exemple de reclamatii ciudate, mentionate de Cancan in editia de sambata.

"Pe langa numeroasele cazuri pe care le avem in lucru, avem de-a face si cu multe plangeri ciudate. Sunt persoane care cred ca serviciile secrete au pus la cale nenumarate atentate pentru a-i lichida. Altii sustin ca sunt urmariti de extraterestri care incearca sa-i rapeasca pentru a face experimente asupra lor. Am avut chiar si un barbat care sustinea ca este Napoleon si ca austriecii planuiesc sa-l ucida.

Oamenii vin in audiente si nu avem ce face, trebuie sa pierdem vremea cu astfel de plangeri", povesteste procurorul Remus Budai, seful Serviciului Criminalistica din cadrul Parchetului Capitale.

Cea mai haioasa plangere inregistrata de procurori este cea a unui bucurestean de 80 de ani. "Batranul era foarte revoltat si ne-a povestit ca nora sa i-a aratat un san, incercand astfel sa-l ucida. Poate ar fi putut sa-i provoace un infarct", a adaugat Remus Budai.

Mood:  cheeky
Now Playing: A mai trecut un semestru din studentie!
Topic: Studentia la Sibiu

    Astazi 7 februarie 2008 am sustinut ultimul examen din cadrul penultemei sesiuni din viata mea de student la Universitatea Lucian Blaga,Stiinte Economice  din Sibiu.

  

 

Am avut examenul scris la materia Tranzactii  Economice Internationale. Dupa mine a fost o materie destul de interesanta, am invatat unele chestii care sper ca le voi intalni si le voi aplica in viata. Ca de exemplu Modalitatile de plata in cadrul comertului international:Acreditivul, Incasso,Plata in cont deschis si Plata in avans. 

sau acele instrumente de plata: Cambia normala cambia bancara, cecul, biletul la ordin etc. Toate aceste elemente sper sa imi fie de folos:)

Sper sa iau nota mare pana la urma!