Wednesday, June 22, 2011

Water Tower

Entrance to CugirImage via WikipediaCugir Valley is area where history meet technology generating a strange population. Cugir river, starting in the city where Raul Mare meet Raul Mic will split again after less than a dozen of miles meeting Mureș river. Two or three century ago was a border town for Habsburg Empire. Landmark for the area from that times is Water Tower, part of hydro energy plant built in the city, still I'm digging around this subject with the filling that missing documents become a trade mark for iron curtain. Border town it is today.
Details for recent history. After WWII, comuna Cugir was a border of Hunedoara county, logic if we accept integration of steel factories in the same area. At that time an autonomous Magyar county was inside Romania. Well, we are Romanian, so the counties was change, term "regiunea" was change to "județ" and the city cross the border inside Alba county. Why ? The city now have guns and ammo facilities, this means money for government, and Alba, late Alba Iulia want more money than Deva. After Cool War end, all industry was destruct, government is more efficient than shells, so whiteout ...pollution city does not appear on local economic plans. Now another term and geographic county change at nadir and guess what, Cugir will maintain peripheries position.
Relative levels of industrialization, 1750-1900.

Habsburg Empire industrialization was higher than Japan, Italy and Russia. That means, in Cugir, a new hydro electric plant built by cooperation of Italian, Cheh, Hungarian, German and Romanian people, around 1906.
At the end of tower, water from Râul Mic will go inside Râul Mare, so Cugir river is a quarter of mile longer.
That tower is under maintenance work
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Fekete or Schwartz ?

...the debate between full reserve banking Austrians and advocates of Real Bills such as Fekete can be considered "technical" in nature. Both strongly advocate a return to the gold standard in preference to the current monetary system, which both groups consider unsuistainable and destructive.

Well, current economic thinking, epitomized by J.M. Keynes, criticizes the gold standard for being the cause (and international transmission vector) of the 1930s depression. Fekete's rebuttal is that the Great Depression (and interest rate volatility generally) were a response to legislatures and central banks suppressing the market in Real Bills and taking gold coinage (into which bills mature) out of consumers' hands. He cites events of 1909 in France and Germany, obliging their civil servants to accept paper money in lieu of the gold coin of the realm, and says international trade sanctions after World War I finished destroying the international commercial paper markets.

 Pointing out the difference between discount and interest