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David Hume (1711–1776), one of the most famous philosophers in Western civilization, was the first to give a thorough and complete explanation of the gold-specie-flow mechanism, which is the automatic adjustment mechanism that balances the inflow and outflow of gold under an international gold standard.
On a gold standard a country’s money supply, including paper money, is directly proportional to domestic gold holdings, including bullion and gold specie. When a country imports goods from abroad, making payment causes gold to flow out of the importing country. When a country receives payment for goods exported abroad, gold flows into the country. In addition, investments in a foreign country cause gold to flow out, destined for the country receiving the investment. When a country attracts foreign investment, gold flows in to pay for the investment.
David Hume addressed the problem of what happens when the outflow of gold, owing to imports and investments in foreign countries, is unequal to the inflow of gold from exports and foreign investment attracted from abroad. He developed the gold-specie-flow mechanism to explain the forces that bring the outflow of gold into balance with the inflow of gold, stabilizing domestic money supplies.
If gold outflows exceed gold inflows, domestic money supplies dwindle, putting downward pressure on domestic prices. As domestic prices fall, domestic goods become cheaper relative to imported goods, decreasing gold outflows from imports. Also, falling domestic prices lower the prices of domestic goods in export markets, increasing gold inflows from exports. Therefore, imports decrease and exports increase, closing the gap between the gold outflows and gold inflows.
If gold inflows exceed gold outflows, domestic money supplies balloon, putting upward pressure on domestic prices. Rising domestic prices render domestic goods less competitive in export markets, decreasing gold inflows from exports. Also, rising domestic goods prices lift the price of domestic goods relative to imported goods, increasing gold outflows from imports. Therefore, imports increase and exports decrease until the gap between gold inflows and gold outflows has closed.
Hume’s theory of the gold-specie-flow-mechanism helped supply the theoretical foundation of the gold standard as a stabilizing force in monetary affairs.
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consularSPECIAL POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
I/We, MR. JOEDEL BELMONTE MALAPO, Filipino, Single, of legal age/s, with postal address at #1818 Upo Napico Street, Manggahan
1611 Pasig City, do hereby name, constitute and appoint SANDRA OLAVERA NARON, Filipino, Single, of legal age, residing at #1818 Upo Napico
Street, Manggahan 1611 Pasig City whose specimen signature appears below, to be my/our true and lawful Attorney-in-fact, for me/us and in
my/our name/s, place and stead, and for my/our own use and benefit to do the following acts and deeds:
1. To acquire the property in paragraph 3 presently covered by Condominium/Transfer Certificate of Title No. ________________ under the name of
PROPERTY COMPANY OF FRIENDS INC. and to be registered and transferred in name/s of SANDRA OLAVERA NARON.
2. To apply for, negotiate, and obtain a loan from BDO UNIBANK, Inc (“the Bank”) in the principal amount not exceeding (PHP 1,357,300.xx) ONLY,
Philippine Currency, (the “Loan”), or any such higher amount as may be approved by the Bank ,at such terms and conditions as may be agreed by
my attorney-in-fact with the Bank:
3. To encumber or assign and convey by way of FIRST MORTGAGE unto the Bank, its successors and assigns my/our property/ies described below,
including its appurtenant parking space, laundry area, drying area, ledge, garden area, balcony, if any, as security for the prompt payment of the
Loan, including its renewals, extensions, rescheduling, restructuring, reavailments or amendments thereof:
Location Current TCT/ CCT No.,
Registry of Deeds & Registered Owner
To be transferred to
Block 11 Lot 3 Kensington 6 Barangay
Navarro, General Trias, Cavite
Province of Cavite
PROPERTY COMPANY OF FRIENDS INC.
SANDRA OLAVERA NARON
4. To indicate, confirm and instruct the Bank on the mode of payment for my/our above Loan, including without limitation, to authorize the Bank to
automatically debit from my/our account with the Bank’s __________________ Branch under Account No. __________________
(the “Account”) for any and all payments/amounts which may be due from me/us under the said Loan and/or the facility obtained in accordance with
paragraph 8 below, as my/our attorney-in-fact may deem appropriate or necessary;
5. To make, sign, execute, and deliver contracts, documents, agreements, and other writings of whatever nature or kind, such as but not limited to
Promissory Note(s), the Deed of Real Estate Mortgage / Mortgage Loan Agreement, Deed of Undertaking, Automatic Debit Authority and all other
documents (including without limitation, the enrollment form for any Mortgage Redemption/Credit Life Insurance or other bond/insurance
requirements and/or any renewal thereof, and such petitions, warranties, representations and undertakings in relation to the condition of the
foregoing property and the delivery of title over the same to the Bank, free and clear from any liens and encumbrances), with the Bank any and all
third persons, concerns, or entities, as may be necessary or proper in connection with the foregoing upon the terms and conditions as my/our said
Attorney-in-fact may, in his / her discretion, deem to be in my/our best interest:
6. To duly receive on my/our behalf the proceeds of the said Loan as well as legal notices or processes directed to me/us in the event of foreclosure
or other satisfaction of the suit premised on the Deed of Real Estate Mortgage / Mortgage Loan Agreement or any other document, warranty,
agreement to be executed by my/our Attorney-in-fact in favor of the Bank as security for the aforesaid Loan:
7. To claim from the Bank, upon full payment of the credit accommodations / facilities for which my/our property stands as collateral, the Owner’s
Duplicate Copy of title aforementioned.
8. To obtain a facility from the Bank in such amount as may be necessary to pay for the insurance policy such as but not limited to mortgage
redemption/credit life insurance and fire insurance policy, procured in connection with the Loan, and to sign, execute and deliver application forms,
contracts, documents, and agreements, as may be necessary or proper in connection with the facility to be obtained at such terms and conditions as
my/our said Attorney-in-fact may, in his/her discretion, deem to be proper, and to claim and receive from the Bank any and all documents in relation
to the insurance policy procured and/or facility obtained.
9. To cancel any lien / encumbrance such as but not limited to Sec. 4, Rule 74 of the Revised Rules of Court (Heirs' and / or Creditors' Lien), Sec. 7 of
Republic Act No. 26 (An Act Providing A Special Procedure For The Reconstitution of Torrens Certificates of Title Lost or Destroyed), and / or prior
mortgage annotations, if any.
10. To do and perform any and all acts necessary for the faithful execution of the foregoing acts and deeds.
HEREBY GIVING AND GRANTING unto my/our said Attorney-in-fact full power and authority to do and perform all and every act and thing
whatsoever requisite and necessary to be done in and about the premises, as fully to all intents and purposes as I might or could lawfully do if
personally present, and hereby ratifying and confirming all that my/our said attorney-in-fact has done, shall lawfully do or cause to be done by virtue
of these presents.
This Special Power of Attorney shall be valid and subsisting and shall remain in full force and effect unless otherwise revoked or amended
by me in writing and duly served upon the Bank.
IN WITNESS WHEREOF, I have hereunto set my hand this day of _________________ at _______________________.
JOEDEL BELMONTE MALAPO
SANDRA OLAVERA NARON
SIGNED IN THE PRESENCE OF:
STEPHANIE JOY M YAO
ACKNOWLEDGMENT AND CERTIFICATE OF OATH
REPUBLIC OF THE PHILIPPINES) S.S.
BEFORE ME, a Notary Public for and in the above jurisdiction personally appeared:
Name Competent Evidence of Identity Date & Place Issued
JOEDEL BELMONTE MALAPO 409-792-012-000 TIN
SANDRA OLAVERA NARON 427-167-706-000 TIN
Personally known to or identified by me to be the same person/s who executed the foregoing instrument and he / she / they acknowledged to me that
their signature on the instrument was voluntarily affixed for the purposes stated therein, the same is his / her / their own free and voluntary act and
deed and they were duly authorized to sign for the person/s or Corporation/s herein represented, and he / she / they further made oath as to the
truth of the representation and warranties thereof.
This instrument consisting of _________ (___) pages, including this page on which the Acknowledgment is written, has been signed by the party
and their instrumental witnesses on each and every page thereof and relates to a Special Power of Attorney granted in favor of
WITNESS MY HAND AND NOTARIAL SEAL on this day of ______________________________ at ____________________________________
Doc. No. _____________;
Page No. _____________; NOTARY PUBLIC
Book No. _____________;
Series of _____________;ized
Usage Frequency: 1
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This model is a one stroke automatic slicer for cakes, pies, lasagna, pizza, and other frozen products. Quickly and efficiently slice your product in one shot using a blade set. Custom blade sets and holders sold separately
Ang modelo na ito ay isang stroke awtomatikong slicer para sa cake, cake, lasagna, pizza, at iba pang mga nakapirming mga produkto. Nang mabilis at mahusay hatiin ang iyong mga produkto sa one shot na gamit ang isang talim set. Pasadyang mga hanay ng talim at may-hawak ng ibinebenta nang hiwalay
Usage Frequency: 1
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