Power Theory of Exchange and Money

Modern exchange theories model a large market, but do not explain single exchanges. This paper considers the phenomenon of single exchange and formulates the general exchange problem in the form of a system of two equations, subjective and objective. Subjective equilibrium is given by the Walras–Jevons marginal utility equation. Objective equilibrium equations by Walras and Jevons are averaged over all transactions in the market and can only give a rough general picture without explaining the specific price of an individual exchange. An exchange micro-condition must be found that, when averaged, will give the Walras market equilibrium macro-condition. The study of the internal structure of exchange leads to the need to consider power. The concept of generalized power is introduced. It is generalized power that serves as the primary comparable and measurable objective basis of exchange. The power theory of exchange provides the objective price-equation. It is demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent exchanges. This methodology is based on an interdisciplinary analysis of an abstract exchange model in the form of a system of equations. The proposed theory is able to uniformly explain any exchange, including a single one, which is impossible with the existing theories of exchange.

Foreign Exchange Market and the Asset Approach

Exchange rates play a central role in international trade because they allow us to compare the prices of goods and services produced in different countries. A consumer deciding which of two American cars to buy must compare their dollar prices. Households and firms use exchange rates to translate foreign prices into domestic cur-rency terms. Once the money prices of domestic goods and imports have been expressed in terms of the same currency, households and firms can compute the relative prices that affect international trade flows. Keywords: Foreign Exchange, Exchange Rate, International Trade, Foreign Currency, FOREX Rate, Assets Approach.

Geochemical consequences of oxygen diffusion from the oceanic crust into overlying sediments and its significance for biogeochemical cycles based on sediments of the northeast Pacific

Exchange of dissolved substances at the sediment–water interface provides an important link between the short-term and long-term geochemical cycles in the ocean. A second, as yet poorly understood sediment–water exchange is supported by low-temperature circulation of seawater through the oceanic basement underneath the sediments. From the basement, upwards diffusing oxygen and other dissolved species modify the sediment, whereas reaction products diffuse from the sediment down into the basement where they are transported by the basement fluid and released to the ocean. Here, we investigate the impact of this “second” route with respect to transport, release and consumption of oxygen, nitrate, manganese, nickel and cobalt on the basis of sediment cores retrieved from the Clarion Clipperton Zone (CCZ) in the equatorial Pacific Ocean. We show that in this abyssal ocean region characterised by low organic carbon burial and sedimentation rates vast areas exist where the downward- and upward-directed diffusive fluxes of oxygen meet so that the sediments are oxic throughout. This is especially the case where sediments are thin or in the proximity of faults. Oxygen diffusing upward from the basaltic crust into the sediment contributes to the degradation of sedimentary organic matter. Where the sediments are entirely oxic, nitrate produced in the upper sediment by nitrification is lost both by upward diffusion into the bottom water and by downward diffusion into the fluids circulating within the basement. Where the oxygen profiles do not meet, they are separated by a suboxic sediment interval characterised by Mn2+ in the porewater. Where porewater Mn2+ in the suboxic zones remains low, nitrate consumption is low and the sediment continues to deliver nitrate to the ocean bottom waters and basement fluid. We observe that at elevated porewater manganese concentrations, nitrate consumption exceeds production and nitrate diffuses from the basement fluid into the sediment. Within the suboxic zone, not only manganese but also cobalt and nickel are released into the porewater by reduction of Mn oxides, diffusing towards the oxic–suboxic fronts above and below where they precipitate, effectively removing these metals from the suboxic zone and concentrating them at the two oxic–suboxic redox boundaries. We show that not only do diffusive fluxes in the top part of deep-sea sediments modify the geochemical composition over time but also diffusive fluxes of dissolved constituents from the basement into the bottom layers of the sediment. Hence, the palaeoceanographic interpretation of sedimentary layers should carefully consider such deep secondary modifications in order to prevent the misinterpretation of primary signatures.

Geochemical consequences of oxygen diffusion from the oceanic crust into overlying sediments and its significance for biogeochemical cycles based on sediments of the NE Pacific

Exchange of dissolved substances at the sediment–water interface provides an important link between the short–term and long–term geochemical cycles in the ocean. A second, as yet poorly understood sediment–water exchange is supported by low–temperature circulation of seawater through the oceanic basement underneath the sediments. From the basement, upwards diffusing oxygen and other dissolved species modify the sediment whereas reaction products diffuse from the sediment down into the basement, where they are transported by the basement fluid and released to the ocean. Here, we investigate the impact of this “second” route with respect to transport, release and consumption of oxygen, nitrate, manganese, nickel, and cobalt on the basis of sediment cores retrieved from the Clarion Clipperton Zone (CCZ) in the equatorial Pacific Ocean. We show that in this abyssal ocean region characterised by low organic–carbon burial and sedimentation rates vast areas exist where the downward and upward directed diffusive fluxes of oxygen meet so that the sediments are oxic throughout. This is especially the case where sediments are thin or in the proximity of faults. Oxygen diffusing upward from the basaltic crust into the sediment contributes to the degradation of sedimentary organic matter. Where the oxygen profiles do not meet, they are separated by a suboxic sediment interval characterised by Mn2+ in the pore–water. Where the sediments are entirely oxic, nitrate produced in the upper sediment by nitrification is lost both by upward diffusion into the bottom water and by downward diffusion into the fluids circulating within the basement. Where pore–water manganese in the suboxic zones remains low, nitrate consumption is low and the sediment continues to deliver nitrate to the ocean bottom waters and basement fluid. We observe that at elevated pore–water manganese concentrations, nitrate consumption exceeds production and the basement becomes a nitrate source. Within the suboxic zone, not only manganese but also cobalt and nickel are released into the pore–water by reduction of oxides, diffuse towards the oxic/suboxic fronts above and below where they precipitate, effectively removing these metals from the suboxic zone and concentrating them at the oxic/suboxic redox boundaries. We show that not only diffusive fluxes in the top part of deep–sea sediments modify the geochemical composition over time, but also diffusive fluxes of dissolved constituents from the basement into the bottom layers of the sediment. Hence, paleoceanographic interpretation of sedimentary layers should carefully consider such deep secondary modifications in order to prevent misinterpretation as primary signatures.

Analisis Fatwa Dewan Syariah Nasional Majelis Ulama Indonesia Nomor 28/DSN-MUI/III/2002 tentang Jual Beli Mata Uang (AL-SHARF) terhadap Jasa Penukaran Uang

Exchange of money in muamalah fiqh is called Al-Sharf which is a sale and purchase agreement. This is as happened in Jalan Merdeka, Bandung City, a business that exchanges money that is rife before Idul Fitri. The Indonesian Ulema Council regulates the sale and purchase of currencies (Al-Sharf) in Fatwa Number 28 / DSN-MUI / III / 2002 concerning Currency Trading (Al-Sharf). In this case the authors formulate a problem with the aim of knowing the practice of money exchange services on Jalan Merdeka Bandung and also to find out the Fatwa Analysis of the National Sharia Council of the Indonesian Ulema Council No 28 / DSN-MUI / III / 2002 Concerning Currency Trading (Al-Sharf) Against Money Exchange Services on Jalan Merdeka Bandung.The method in this study is a qualitative method with a descriptive analysis approach. The object of this study is the primary data source in the form of interviews and secondary data sources in the form of books, journals and other literature. Data collection techniques in the form of observation and interviews.The National Sharia Council has kicked the need to establish a fatwa on Al-sharf to be used as a guideline in currency trading transactions. In practice, the exchange of Rp 100,000 can be exchanged with Rp. 2,000 denominations. Currency trading activities carried out on Jalan Merdeka Bandung are in conflict with the DSN-MUI Fatwa on point three, that is, if the value is different then the law is usury Abstrak.Tukar-menukar uang dalam fiqih muamalah dinamakan Al-Sharf yang merupakan akad jual beli uang. Hal ini sebagaimana terjadi di Jalan Merdeka Kota Bandung, bisnis penukaran uang yang marak terjadi menjelang Idul Fitri. Majelis Ulama Indonesia mengatur jual beli mata uang (Al-Sharf) dalam Fatwa Nomor 28/DSN-MUI/III/2002 Tentang Jual Beli Mata Uang (Al-Sharf). Dalam hal ini penulis merumuskan masalah dengan tujuan Untuk mengetahui Praktik Jasa Penukaran Uang di Jalan Merdeka Bandung dan juga untuk mengetahui Analisis Fatwa Dewan Syariah Nasional Majelis Ulama Indonesia No 28/DSN-MUI/III/2002 Tentang Jual Beli Mata Uang (Al-Sharf) Terhadap Jasa Penukaran Uang di Jalan Merdeka Bandung.Metode dalam penelitian ini adalah metode kualitatif dengan pendekatan deskriptif analisis. Objek penelitian ini adalah sumber data primer berupa wawancara dan sumber data sekunder berupa buku, jurnal dan literatur lainnya. Teknik pengumpulan data berupa observasi dan wawancara.Dewan Syariah Nasional memendang perlu menetapkan fatwa tentang Al-sharf untuk dijadikan pedoman dalam transaksi jual beli mata uang. Pada praktinya penukaran uang Rp 100.000 dapat ditukar dengan pecahan Rp 2.000 sebanyak 45 lembar. Kegiatan jual beli mata uang yang dilakukan di Jalan Merdeka Bandung bertentangan dengan Fatwa DSN-MUI pada point tiga, yaitu jika nilainya berbeda maka hukumnya riba.

Neogene tectonics and climate forcing of carnivora dispersals between Asia and North America

Exchange records of terrestrial mammals can be combined with available tectonic and climatic documents to evaluate major biological and environmental events. Previous studies identified four carnivoran dispersals between Eurasia and North America in the Neogene, namely, at ∼ 20, 13–11, 8–7, and ∼ 4 Ma. In order to evaluate driving mechanism of these biological events, we collected, compared and analyzed a large number of published records. The results indicate that the carnivoran dispersal from Eurasia to North America at ∼ 20 Ma was probably caused by intense tectonic movements in Asia. During 13–11 Ma, global cooling possibly drove the mammal exchanges between Eurasia and North America. By comparison, the carnivoran dispersal from Eurasia to North America at 8–7 Ma was probably caused by the combination of global cooling and tectonic movements of the Tibetan Plateau. Similar to during 13–11 Ma, the carnivoran exchanges between Eurasia and North America at ∼ 4 Ma were possibly driven by global cooling.

Eddy covariance fluxes and vertical concentration gradient measurements of NO and NO₂ over a ponderosa pine ecosystem: observational evidence for within-canopy chemical removal of NO_x

Exchange of NOx (NO+NO2) between the atmosphere and biosphere is important for air quality, climate change, and ecosystem nutrient dynamics. There are few direct ecosystem-scale measurements of the direction and rate of atmosphere–biosphere exchange of NOx. As a result, a complete description of the processes affecting NOx following emission from soils and/or plants as they transit from within the plant/forest canopy to the free atmosphere remains poorly constrained and debated. Here, we describe measurements of NO and NO2 fluxes and vertical concentration gradients made during the Biosphere Effects on AeRosols and Photochemistry EXperiment 2009. In general, during daytime we observe upward fluxes of NO and NO2 with counter-gradient fluxes of NO. We find that NOx fluxes from the forest canopy are smaller than calculated using observed flux–gradient relationships for conserved tracers and also smaller than measured soil NO emissions. We interpret these differences as primarily due to chemistry converting NOx to higher nitrogen oxides within the forest canopy, which might be part of a mechanistic explanation for the "canopy reduction factor" applied to soil NOx emissions in large-scale models.

Eddy covariance fluxes and vertical concentration gradient measurements of NO and NO₂ over a ponderosa pine ecosystem: observational evidence for within canopy removal of NO_x

Exchange of NOx (NO+NO2) between the atmosphere and biosphere is important for air quality, climate change, and ecosystem nutrient dynamics. There are few direct ecosystem scale measurements of the direction and rate of atmosphere-biosphere exchange of NOx. As a result, a complete description of the processes affecting NOx following emission from soils and/or plants as they transit from within the plant/forest canopy to the free atmosphere remains poorly constrained and debated. Here, we describe measurements of NO and NO2 fluxes and vertical concentration gradients made during the Biosphere Effects on AeRosols and Photochemistry EXperiment 2009. In general, during daytime we observe upward fluxes of NO and NO2 with counter-gradient fluxes of NO. We find that NOx fluxes from the forest canopy are smaller than calculated using observed flux-gradient relationships for conserved tracers and also smaller than measured soil NO emissions. We interpret these differences as evidence for the existence of a "canopy reduction factor". We suggest that at this site it is primarily due to chemistry converting NOx to higher nitrogen oxides within the forest canopy.