![]() The internet/cyberspace is wonderful, because it gives people the freedom to augment or totally change their identities, and this is a marvellous new dawn for human expression, a new step in human evolution. This word would make more sense if it referred to fishing for cats, but in actuality it refers to people who construct false identities online and, whether out of boredom, loneliness or malice, lure other people into continued messaging correspondence, thereby building false relationships with them (the apparent source of the term ‘catfish’ is a 2010 documentary called Catfish, whose verity, ironically enough, has been questioned). ![]() ![]() Nevertheless, I have tried to choose words and concepts that should have some staying power, for a decade or two at least. I’m not sure that holds anymore in the world-wide ‘web’ of meaning we now inhabit (or are trapped in), with its exponentially increasing complexities. It used to be said that to name something is to begin understanding it. The rebirth of Cornish and other lost UK languages The ancient ‘viral memes’ still with us In the spirit of Orwell I offer a new speak for our new age, the century of ‘hyper’ and ‘virtual’ and ‘post’ this and that (how he would have laughed and cried at the idea of a ‘post-truth’!), where the struggle over meaning and authenticity have partly relocated to cyberspace, to a realm of infinite (im)possibility, just as our identities have. Looking back on this now, one is struck by how quaint his whole vision was, because in the age of the internet and super-connectivity, all of these things have been raised to sophisticated arts that, instead of being forced on us, have quietly colonised our lives. ![]() In many cases, bonds are issued at par.In George Orwell’s famous prognostication of the future (a dystopia, of course), what he calls ‘doublethink’ (cheerful violation of logic) and ‘newspeak’ (ideologically contorted language) run rampant, and all citizens are under heavy surveillance. The issue price is the price at which the bond issuer originally sells the bonds.The maturity date is the date on which the bond will mature and the bond issuer will pay the bondholder the face value of the bond.Payments can be made in any interval, but the standard is semiannual payments. Coupon dates are the dates on which the bond issuer will make interest payments.For example, a 5% coupon rate means that bondholders will receive 5% x $1,000 face value = $50 every year. The coupon rate is the rate of interest the bond issuer will pay on the face value of the bond, expressed as a percentage.When the bond matures, both investors will receive the $1,000 face value of the bond. For example, say an investor purchases a bond at a premium of $1,090, and another investor buys the same bond later when it is trading at a discount for $980. Face value (par value) is the money amount the bond will be worth at maturity it is also the reference amount the bond issuer uses when calculating interest payments.
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