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W Italy.

the morning of 16 March 2011, the press officer of the Presidency of the Council emerged out of breath from a cave, located near the interior ministry and property of the IOR, already rented, at the time, some Christian martyrs, and subsequently, by a group of Carbonari, to read to journalists of all newspapers, national and international, stationed atop the barricades and fitted with pen, notebook and musket, the statement drawn up following a stormy meeting of the Council of Ministers during the night, by candlelight, and that he wanted to make clear, without whores.

The Government, after long discussion and shared, had finally decided to pay tribute Unification of Italy and its Renaissance, planning a major event in memory of the 5 Days of Milan. The event would take place, of course, industrious city in Lombardy. All over the country were displayed huge posters depicting a plate which sits on top of a breaded veal cutlet Milanese risotto on a table with a cloth flag. To emphasize the event, along with the usual parade of the armed forces occasionally in period costume, it was planned to double the day, taking five to ten, resulting in a soccer tournament with a first round and a return that would involve the best and most representative Teams Po, at last to give up all the specious arguments mounted by the opposition, aiming to put in a bad light on the work of the executive in the festivities, all denied, of the 150th Anniversary of the Unification of Italy. The teams that were supposed to take the field were: Milan, Inter Milan, Varese, Brescia, Atalanta, Monza, Cremonese, Sant'Angelo Lodi, Carugate, Arcore and Pro Patria. On the chest of each player, is sewn into the divided society, a rosette with the colors of the nation and on the back, a reproduction of the gold Madunina. Up for grabs Cup Risorgimento created for the occasion, from Dolce & Gabbana, representing snake wrapped in a leopard thong on a great 5. The matches would take place in Piazza Cavour and specially adapted quickly to the football field. Reporters took notes

Do not skip comma el'addetto concluded the press release waving the flag, shouting W Italy! Articles

went immediately to the press and the newspapers gave wide coverage to the news. The news noted the commitment of the Government and its goodwill. The opposition issued a protest against release of light, while welcoming the idea, complaining about the lack of involvement in defiance of Rome and Naples. The Prime Minister, resented the criticism, and called Galliani ordered him to buy now known center forward Flamengo Totinho Enrique, a native and a distant descendant of Italian sharpshooter, and deploy the holder from the first game even with crutches.

Despite criticism of the country, the tournament will be played to everyone's satisfaction. Football, as we know, always joining at the end.

For the record won the final in Milan, which sank with the Pro Patria Totinho free kick just that with a powerful shot at the ninetieth, had breached the barrier of the opponents. Cup of the Risorgimento, even today after many years, makes a fine show if, among other legendary trophies, in the rich red-black board of the company.

The President? He always, of course.

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water. The Adventures of

That morning, in the most arid of the world, people stood up and found the water.

After a moment of astonishment he began to pick it up using every possible container. The water, however, never ended. He left copious from every tap. Wells has always been dry, located in the village were all packed. All drank more than they could, fearing that sooner or later it would certainly over. Not ended, indeed increased. They decided to wash it in bulk, all at once. The men rubbed and rinsed women, women children, old children. When they stopped, and the exhaustion were dry, they realized, looking around, that the vegetation hitherto poor and lean, had suddenly become thick and lush. Sterile shrubbery had been transformed into lush green trees, laden with fruit. The gardens, the poor and almost forgotten, filled with every gift of God met the head of the village council of elders, and proposed them to give a big party in honor of the gods of water and that they had finally sent. The elderly, having never seen such abundance in their lives, while not knowing thank those who gave their approval. It was then decided to send the bravest among young people on the holy mountain with a basket of gifts for the gods. Mohammed, the son of Baruch, was the chosen one. After having dressed up, adorned with a headdress of peacock feathers and painted with colors of joy and gratitude, gave him a basket overflowing with fruits and vegetables and accompanied him to the gates of the village revelers. Him, so proud to honor, proudly saluted and left.

through a first dense forest of which he did not remember the existence, then a second, third. Come to the end of it he met that he had always seen the desert. Do not lose heart and began to address it. He walked for many hours and the mountain was still far away. He stopped to rest a little, got the basket from his shoulders and sat on a stone. He was hungry and the fruit was inviting. She ate a little hoping not to anger the gods. Nobody suffered, then took another and then again and again. When he had finished lunch, he was thirsty. He opened the leather bag which contained fresh water and drank without restraint. When he decided to distribute the load was much lighter, almost impalpable. He walked late into the night until the stars adorn the sky. He found a sheltered corner for the night, he lay down es'addormentò. When he woke up all numb the cold the next morning, the basket was gone. With it the lack of advanced fruit, vegetables and water. In desperation he began to scream and fell out of bed. Rising from the ground he saw that everything was just a dream. The abundance of water had never been there. The place where he lived was dry, dry, deserted as usual. People are desperate as each day.

He went to the hut of the village chief and told him he had something to say.

These received him and offered him a cigarette. They smoked in silence. Then the chief, asked him what he wanted. Mohammed said he had a dream. In the dream there was so much water, a lot. There was something for everyone and everyone was happy. Then he was tasked to take the gifts to the gods who lived the Sacred Mountain. Along the way he had fallen asleep, the mountain had never arrived and when he awoke the dream had vanished and with it the water.

The wise old man looked at him with sad eyes and said

"See dear Mohammed, you are a brave young man and I want you to know. The Holy Mountain there as here, there never was water. For centuries we have passed down this tale of gods so that our people had someone to turn to prayer or insults. We had to do we never did. We were never able to rise up to our destiny. But today you and other young people have to do it. Go for the world and pretend the water. Fight for you and your children, for your common future. Do not give up, do not stop. The Gods are just a stupid invention. You are the reality. Shout, let's hear, pretend.

only way the water will come. "

Then, in tears, let him go.

Mohammed left the old to her crying and went out. Arriving at the center of the village where he called all the young women and men, and said: "The gods do not exist. No one can decide for us. From today we will do our destiny. We will go and claim the right to water. We will do it with force, never give up finchè non ci verrà data. E quando l’avremo la divideremo con tutti quelli che non l’hanno. Ora è giunto il momento di essere vivi, veramente!”

Detto questo alzò un braccio, indicò il deserto e diede il via alla marcia. La folla lo seguì cantando.

Non sappiamo cosa accadde, se Mohammed ed i suoi, alla fine, vinsero la partita.

In fondo poco importa.

Quello che conta è che vollero provarci.

                                                                                                                                  

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SuperBadante. 2 nd episode. The

Finally came the good old winter. The right season to do business glamorous, make maximum use of the super powers at my disposal, make you happy as much as possible caryatids. I wait anxiously. They need me. Near the hearth of their sad sad homes, floor sobbing, while cooking soups foul, trying to chew with the few remaining teeth unlikely boiled meat, chicken broths sorption, suck pats of soft cheese. Eager for company, remain alone in front of the television, tuned on the channels of pain, where we talk constantly of doom and misfortune. Normally this type of entertainment is centered on characters who tell their vicissitudes screaming so inconsiderate, and just this constant yelling very loud, considering the normal hearing loss of any old man, is the SuperBadante action in the exact signal.

So here I am. I walk cautiously in the chill of night, dressed as you would expect from any superhero, with my beautiful flashy costume, my beautiful red latex gloves, my blue slippers with felt. In addition, given the season, showing off a beautiful emerald green hat with fur ear flaps fitted with fuchsia.

I go up to the doors of houses, the aziono superudito, approached the ear, after having moved away the furry earmuffs and listen.

slips into a bloodcurdling scream trumpet Eustace, breaks through the eardrum, the hammer breaks up, killing every neuron in my auditory system.

Shoot kick, indeed SuperCalc, just repainted the door of a handsome dark brown antique, I rush, run across, or rather Supercorsa, the entry, hall, lounge, kitchen, bedroom, one for guests, through this 'I have to last me off with my Superbraccia tearing kilos of spider webs, within the master bathroom, in the service, along a corridor carpeted with red velvet with gold embroidery, a meeting of the stairs, and I'm overcome with a Superbalzo on the second floor, I run more Superfast, other room, yet another, a third, then the library, another sitting room decorated in Japanese style bathroom with another statue that sheds water into a huge Jacuzzi, a modern laundry with dryer, dog kennel, the cat's cradle, hall, other scales, yet Superbalzo, background directly to a door and I'm in an attic, Supercorro as I could throughout the enormous room attic, with a huge fireplace covered in ceramic and a great view, thanks to the large terrace overlooking the gulf.

None.

Could I be wrong? Yet I distinctly heard that cry and immediately distressing. Risupercorro back in a flash review every room, every corner of the house, every nook and cranny. Still nothing. None. No trace of old pipe in distress.

Return to the mega Jacuzzi bath.

The old man is there with a stupid smile on his lips, leaning on the edge of the tub with her little arms hanging down his back.

approached me and, surprise, is not alone. Where's My Car

One emerges from the water and crumpled to the question - Did you like, dear? -

He sighs long, slightly bronchitis, and with a hoarse whistle of satisfaction, he says - a scream, baby! -

Then again, I see and fear and cried in unison - Who heck is this idiot? What do you want? What does it do? How come? -

But I say, do not you recognize me? They are the SuperBadante, the hero of all the elders of the planet. I'm here because I have with my Superudito, indeed, heard a scream come from here and I thought that you, Lord, was in need of my favorites, in fact my help. For this you will find her beautiful and the apartment door slightly smashed, by the way congratulations on your beautiful home, a little messy. Then when I went through the guest room full of cobwebs, I figured that you were just too limited to, that nobody would ever find, and .... "

" Look, you ugly moron. I, when I get, is exclusively for women and only beautiful in my bed, where I have the honor of fighting still fiery combats love. The scream you heard was nothing but a tangible sign of the pleasure I felt a moment ago, thanking God and, in particular, this young lady here. Finally, you will be old! Asshole! "

Rest thrilled. Tell me how it can be possible. An old man is still hungry for pleasure and then, now that I think, with a luxurious house, too big, too beautiful for its venerable age. But how, I, the SuperBadante, come to the aid of this ugly old man and he, having swept a piece of pussy I have ever seen in my life, despite my Superpowers, blames me, slander me, I offend? Let it never be! It can not be a superhero so loved and respected by all!

Supersecondo remain a property, then, from my Supertasca, I extract a Magnum 44 and I fire. The water continues to cascade down into the Jacuzzi. The bubbles are colored red, my favorite color.

; ; ; ... .. Continues ...

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5 ITEMS IN BOND ... ...

1.Guadagnare the Notes

investing in bonds, making a sort of loan to a company, every year or every six months, the company will return the interest earned by coupons at the end of the predetermined period the issuing company will refund the entire capital the creditor and will end the relationship.

Other earning through the collection of coupons (interest income ) there is the potential to earn by selling the bond before its maturity. The sales transaction does not guarantee that the sale price is equivalent to the amount invested, the sale is profitable only if in the meantime, the bond price has risen. If, however, in the intervening period between the purchase and sale, the bond price falls there will be a loss.

2-Types of bonds

There are several types of bonds, each of which has distinctive features in their own right and which is of course good to know before making any investment.

First, the bonds can be categorized by body issuer, such as may be issued by the state, by companies or private companies, or supranational bodies;

The bonds are the most popular bonds formed by : Bot , CCT Btp , through which the state obtains cash from the citizens, but can also be issued by companies or supranational entities, the bonds issued by companies defined corporate bonds or corporate bonds, while those issued by supranational bodies called supranational bonds or sovereign.

The bonds are then classified according to the procedures for reimbursement , it can be expected coupon payments at fixed or variable, or zero coupon bonds (also known as zero coupon bonds). An additional variable of the bonds lies in the timing of reimbursement , which may be semi-annually or annually, etc..

-Corporate Bonds:

corporate bonds, corporate bonds are securities issued by private companies, but also by banks, which are designed to obtain liquidity for their activities. Currently in the Italian market, most corporate bonds are issued by lenders.

-Convertible bonds:

are bonds that have the capacity to convert the bond into shares at a specified date according to a predetermined exchange ratio. They bond the group of structured bonds are a form of investment hybrid between bonds and equities. Even in convertible bond holder receives the interest of better defined (coupon) maturing annual general meeting as a normal bond, but the investor will offer further possibilities, or to convert their bonds into shares . The rules and timing are predetermined course at the time of subscription of securities.

Convertible bonds are securities that allow investors then become a shareholder of the company and offered them a loan following the conversion ratio that specifies all the terms of the transaction. In addition, the convertible bonds may direct conversion and indirect conversion when the conversion is taking possession of securities of a company other than that with which we signed the contract bond.

-bonds with warrants :

in this type of bonds the investor buying the bonds receives the right to purchase additional licenses on favorable terms. The warrants can have a life separate from bonds, so the right holder is entitled to exercise it or sell it under the conditions of issue.

fixed-rate bonds:

in this case the investor is entitled to a return to a fixed interest rate fixed before the release.

variable-rate bonds:

In variable-rate bonds will have a premium calculated with variable interest rate below market rates. These bonds are characterized by a duration equal to zero.

-Zero-Coupon Bonds:

Zero-Coupon Bonds or ZCB securities are zero coupon , in this case there are no periodic payments, using coupons, but the interest is returned to the capital at the end of the title. In this case, duration is equal to the time remaining life of the title. The bond yield is calculated by subtracting the purchase price the final price . The absence of the coupon indicates the absence of periodic payments of interest, because the only revenue comes from the difference between purchase price and the amount of money returned. Typically, zero coupon securities have short duration, less than a year.

investments in zero coupon bonds at a discount occur, the gain of the investment is determined by the difference between the redemption value and purchase price ( debt or issue price). For example, if you buy a zero coupon bond maturing in one year at a price of 97 when we will be reimbursed for a value of 100 will have a gain of 3%. Among the zero-coupon bonds are the most common bots.

-Indexed bonds:

indexed bonds are securities characterized by variable interests closely related to the performance of certain financial values \u200b\u200bthat may be real, monetary or exchange rate, as specified for the issuance of bonds.

-Structured bonds:

The structured notes are characterized by a return linked to indexes of one or more financial instruments.

-step-down Notes:

are fixed rate, but the peculiarity of these titles lies in the gradual change in the coupon that is subjected to a predetermined level of reduction during the entire period of the notes. Eg. If we subscribe to a bond step-down period of 5 years we could have a starting rate of the first coupon of 6% and may weigh up each successive reduction in the rate equal to 0.30%, so the following year with annual coupons we would have a yield of 5.70%, the third year of 5.40%, and thus proceeding until the expiry of the license.

bonds with step-down in the first practice we would have coupons with a value higher than the later, the coupons are paid semi-annually or annually, the maturity of the securities will be refunded the full value of bonds held.

-step-up Notes:

As bonds step down bonds also step up include a change in the value of the coupon during life of the bond. However, contrary to the obligations step down, step up is expected in a increase the coupon on the basis of a predetermined plan at the time of issue. The coupons thus assume a progressively higher value. Even here the coupons are payable semi-annually or annually and at maturity the bond will be paid a refund equal to the value of bonds held.

-reverse convertible bonds:

are special bonds where the issuer has the right to give the person who owns the bonds in lieu equity capital corresponding to value of bonds, but this can only happen if there are special conditions thereof and signed at the time of purchase. Bonds reverse convertibles pay a fixed interest rate generally higher than the ordinary fixed-rate bonds, but the holder of the securities has no guarantee that the company fully repaid the loan at maturity. The return on investment is tied to the performance of a stock, only if the share at maturity is greater than a predetermined value, the investor will receive back the full amount of capital invested. The reference price is defined strike price, in the case rather than upon the expiry of the share value does not exceed the strike price the holder of the securities will be paid a certain amount of shares whose value is much lower than the original amount invested in bonds. Reverse convertible bonds with the holder of the securities does not have the certainty of repayment of capital, but if at the expiry of the benchmark index is above the strike price then it will return the full amount and will have received coupon payments resulting from the substantial high interest rates.

-Bonds drop lock:

are variable-rate bonds, but bring with them a special warranty clause that protects the holder of bonds drop lock when rates interest falls below a preset value. At the time of a value is established in the interest rate defined: trigger rate, if rates were to fall below the trigger rate lock drop the debt becomes a fixed rate bond usually until the end of the title. They are a form of investment which reduces the risk in the event of any cuts in interest rates.

-Bonds fixed reverse floater:

bonds are in the category of structured bonds with a relatively long duration, at first behave like fixed-rate bonds , and may take the configuration of bonds step down, with traditional coupons to decreasing amount, to change it later indexed bonds in , this behavior is precisely defined "reverse" . How indexed bonds possess a return linked to the performance of specific indexes determined at issuance of fixed rate then pass a variable rate . Each fixed obligation reverse floater has certain characteristics and methods of operation and conversion, all parameters to understand fully before a 'possible subscription.

-index-linked bonds:

structured bonds are characterized by a return correlated to the performance of equity indices or equities in the case of equity linked .

3.I risks of investing in bonds

The first risk is called risk default, which is the risk that the company issuing the bond did not result in the ability to pay interest . There is a rating system that assigns to each issuing company a degree of risk, better known as as rating (which we will see later). Companies with a low rating will issue bonds with a higher level of risk than higher rated companies, which have a greater confidence .

the rating level is also associated with the profitability of the title, in fact, bonds ratings are associated with different levels of risk different , low-rated companies will issue bonds with a higher level of risk, and therefore with a greater tendency to offer earn more than bonds issued by rated companies higher.

An additional risk of investing in bonds comes from the so-called price risk, in fact the price of a bond may vary over time, in the case of fixed rate bonds the price is subject to major changes with respect to a 'debt with variable interest rates.
For example, if rates market increases the prices of fixed rate bonds already issued are decreasing, while if market rates fall, bond prices being increased. The variation in price depends on another parameter of the bonds, the duration ; the term duration is defined as the duration of the license . bonds with high duration have a 'high sensitivity in price changes in response to fluctuations in interest rates.

At the time of sale you may experience an additional risk, if a bond has little liquidity and therefore little demand from the market, its price is bound to get affected negatively.

Another risk is related to the currency of issue obligation, if in fact the bond is issued in dollars or another foreign currency, at the time of the change in the value of the euro exchange rate can lead to a reduction of its value.

4.Il bond ratings

E ' a assessment of quality of the title, carried out by specialized agencies, and is basically an estimate of the risk of credit of an issuer obligations and its ability to meet its commitments payment (coupon payment) resulting from the issuance of bonds.

The risk assessment is divided into rating of the issuer that corresponds to a global and comprehensive assessment of a particular issuer rating and that instead of issuing the currency issuer's ability to repay the capital and interest at a specified time.

The rating is a tool to express a ranking of the quality of the issuers a bond using criteria that take into account financial soundness of the issuer's potential through timely analysis of financial condition of the company (financially) by analysis of the sector they belong and their position in the industry.

bonds characterized by AAA pronounce the highest level of reliability of the issuer, while a value of type D corporate bankruptcy indicates situations.

The rating therefore takes a very important role for the investor who can use it as a tool for risk assessment connected to a particular investment , in practice the increase of the growing confidence rating to the issuer and then decreases the interest rate bonds.

The rating of the issuers of the bonds is provided by specialized agencies that perform complex analysis on the ongoing health of their companies and financial framework. The agencies are the most popular Moody's and Standard & Poor's . The rating is an important tool for decision to the investor, although it must not be the only benchmark for the decision remains a valid indicator of the risk of a issuer.

5.Valore bond

The nominal value of bonds : represents the portion of the debt on which they are shown on the obligation and the interest calculated .

The issue price of bonds : is the amount the bondholder agrees to pay at the time of subscription obligation. The issue price may be higher, at or below face value, these differences are related to the interest rate applied, the guarantees offered, the market conditions, competition and other variables.

current price of bonds: the price is reported at a given time in a given market.

Redemption price of bonds: is the amount paid by the Company for the extinction of the obligation, generally coincides with the nominal value, but may be even higher if it includes a redemption premium.

I bonds are extinguished by repaying the following methods of depreciation plan, there may be other modes of extinction: purchase of bonds on the market and then cancel them, if any, or the 'option' you can have the conversion of bonds into shares.

GOOD TRADING ...