What is an Exchange Rate Calculator?

An Exchange Rate Calculator is an informational and financial resource that may be utilized in order to illustrate the current exchange rate with regard to monetary systems. Due to the fact that international currency is subject to vary in its respective valuation, an Exchange Rate Calculator will provide for the conversion of one type of currency for another; the constant prospect of value fluctuation accounts for perpetual shifts within exchange rates – due to this fact, results rendered by an Exchange Rate Calculator are constantly subject to change and should be recalculated whenever necessary.

How to Use an Exchange Rate Calculator

Primarily, individuals are encouraged to seek out an Exchange Rate Calculator hosted by a reputable source; although a variety of these types of calculators exist, an Exchange Rate Calculator sponsored by a country’s government or gubernatorial institution are considered to be the most reputable resources:

1.       Identify the type of currency in possession

2.       Identify the type of currency that one wishes to exchange

3.       Input both currencies into the Exchange Rate Calculator

4.       The Exchange Rate Calculator will then show the exchange rate between the 2 currencies

Exchange Rate Calculator Example

The following example is current as of February 16th, 2011; any or all information below is for educational purposes only:

1.       Individual A possesses 10 United States Dollars (USD)

2.       Individual A wishes to exchange 10 USD for Mexican Pesos (MXN)

3.       Individual A enters ‘USD’ and ‘MXN’ into the Exchange Rate Calculator

4.       The Exchange Rate Calculator illustrates that 1 USD = 12.1172 MXN

In certain cases, an Exchange Rate Calculator may provide illustrations of part exchange rates in order to show fluctuation

Exchange Rate Calculator Legality

An individual is encouraged remain cognizant that anExchange Rate Calculator is meant for educational and informational purposes only; while the use of a standardized algorithm may account for accurate information regarding Exchange rates, an Exchange Rate Calculator will not be able to account for any or all future fluctuations undertaken by the currency exchange marker – as a result, Exchange Rate Calculators will not factor specifications and exceptions that exist within specific economies:

The procedure utilized to determine the exchange rate shared between two currency systems retains the possibility of extenuating circumstances, exceptions, and conditions.

Calculations made by Exchange Rate Calculators differ on a case by case basis; the satisfaction of all required documentation substantiating the acknowledgement of inherent risk of loss prior to undertaking trade and exchange activity within the FOREX Market should be reviewed to the fullest extent

Exchange Rate Calculator Assistance

In the event that an individual experiences difficulty understanding the circumstances and procedures involved with the trends, behaviors, and logistics latent with in the FOREX system, they are encouraged to consult an attorney specializing in international law, finance law, and commercial law; subsequent analysis of finances and pertinent details with regard to the inherent risks that exist upon exchanging one currency for anothershould be conducted in order to establish a sufficient understanding of any or all processes and procedures corollary to foreign exchange rates.

What are Currency Exchange Locations?

Currency Exchange Locations are financial institutions that provide individuals with the opportunity to engage in both trade and exchange activities with regard to international currency.

Due to the fact that currency not only exists in a multitude of forms, ranging from the specific to the country circulating it to countries who accept that currency as legal tender, the exchange rate of currency has become imperative within the process of both international travel, as well as commercial investment activity. Currency Exchange Locations, which also range in structure, provide settings that provide facilities allowing individuals to participate in the exchange of individual monetary systems.

The Functions of Currency Exchange Locations

Within the realm of currency exchange, both the opportunities – as well as the circumstances – available for the trade and exchange of currency have grown in its expanse; as a result Locations providing for currency exchange services have also shared in this evolution:

Currency Exchange Locations and Travel

At one time, currency exchange was simply a process in which individuals underwent upon embarking on international travel; due to the fact that recognition of foreign currency varies on a country-to-country basis, the need to exchange one’s native currency for the currency accepted in that country of destination was crucial.  Currency Exchange Locations existed both in one’s native country, as well as within that individual destination country.

Currency Exchange Locations and Commerce

Within the Foreign Exchange Market, which is one of the many Currency Exchange Locations commonly referred to by its moniker ‘FOREX’, provides investors with a setting in which trade and exchange activity may be conducted with regard to foreign currency with the hopes of rendering financial gain. Due to the constant fluctuation of foreign currency, which is the result of a variety of catalysts – ranging from individual economies to the rate of financial growth displayed by that respective country – the valuation of currency is subject to variation.

Currency Exchange Locations formulated to host the exchange and trade of foreign currency provides economic and financial opportunities for individuals engaging in these investments.

What are the Different Types of Currency Exchange Locations?

As previously stated, the need for Currency Exchange Locations providing services with regard to the trade and exchange of currency have become a necessity; however, a variety of these Currency Exchange Locations exist – within each type of institution exists specific guidelines and implicit procedure:

Banks

Banks may serve as Currency Exchange Locations; individuals who have accounts with individual banks may request that a bank place an order for a specific type of foreign currency desired – banks have become attractive types of Currency Exchange Locations due to the fact that they typically offer premium exchange rates without an abundance of applicable fees.

Consulates and Embassies

Upon one’s arrival to a foreign country, Currency Exchange Locations may be found in areas within the arriving airport; individuals are encouraged to patronize Currency Exchange Locations that are accredited or acknowledged by the applicable governing body of that nation – this accreditation not only provides for better exchange rates, but also reduces the risk of currency exchange fraud

An ENRON Scandal
Summary

The ENRON Scandal is considered to be one of the most
notorious within American history; an ENRON scandalsummary of events is
considered by many historians and economists alike to have been an unofficial
blueprint for a case study on White Collar Crime – White Collar Crime is
defined as non-violent, financially-based criminal activity typically
undertaken within a setting in which its participants retain advanced education
with regard to employment that is considered to be prestigious. The following took
place in the midst of the ENRON Scandal:

ENRON Scandal Summary: The Deregulation of ENRON

While the term regulation within a commercial and corporate
setting typically applied to the government’s ability to regulate and authorize
commercial activity and behavior with regard to individual businesses, the
ENRON executives applied for – and were subsequently granted – government deregulation.
As a result of this declaration of deregulation, ENRON executives were
permitted to maintain agency over the earnings reports that were released to
investors and employees alike.

This agency allowed for ENRON’s earning reports
to be extremely skewed in nature – losses were not illustrated in their
entirety, prompting more and more investments on the part of investors wishing
to partake in what seemed like a profitable company

ENRON Scandal Summary: Misrepresentation

By misrepresenting earnings reports while continuing to
enjoy the revenue provided by the investors not privy to the true financial
condition of ENRON, the executives of ENRON embezzled funds funneling in from
investments while reporting fraudulent earnings to those investors; this not
only proliferated more investments from current stockholders, but also
attracted new investors desiring the enjoy the apparent financial gains enjoyed
by the ENRON corporation.

ENRON Scandal Summary: Fraudulent Energy Crisis

In the year 2000, subsequent to the discovery of the crimes
listed in the above ENRON Scandal Summary, ENRON had announced that there was a
critical circumstance within California with regard to the supply of Natural
Gas. Due to the fact the ENRON was a then-widely respected corporation, the
general populace were not wary about the validity of these statements.

However,
upon retroactive review, many historians and economists suspect that the ENRON
executives manufactured this crisis in preparation of the discovery of the
fraud they had committed – although the executives of ENRON were enjoying the
funds rendered from investments, the corporation itself was approaching
bankruptcy.

ENRON Scandal Summary: Embezzlement

An ENRON Scandal Summary of
the acts of Embezzlement undertaken by ENRON Executives may be defined as the
criminal activity involving the unlawful and unethical attainment of monies and
funding by employees; typically, funds that are embezzled are intended for
company use in lieu of personal use. While the ENRON executives were pocketing
the investment funds from unsuspecting investors, those funds were being stolen
from the company, which resulted in the bankruptcy of the company.

ENRON Scandal Summary: Losses and Consequences

Due to the actions of the ENRON executives, the ENRON
Company went bankrupt. The loss sustained by investors exceeded $70 billion.
Furthermore, these actions cost both trustees and employees upwards of $2
billion; this total is considered to be a result of misappropriated
investments, pension funds, stock options, and savings plans – as a result of
the government regulation and the limited liability status of the ENRON
Corporation, only a small amount of the money lost was ever returned.

Who is Jeff Skilling?

Jeffrey Skilling, who is commonly referred to by his nickname ‘Jeff Skilling’, was the COO (Chief Financial Officer) of the ENRON Corporation from 1990 until the corporation’s 2001 bankruptcy claim, which resulted in the subsequent termination of ENRON.

The demise of ENRON was a direct result of the discovery of fraudulent activity following an investigation conducted by the Securities and Exchanges Commission (SEC) that took place between 2001 and 2002 – Jeff Skilling assumed the role of CEO (Chief Financial Officer) following the retirement of Kenneth Lay, the founder of the ENRON Corporation. Jeff Skilling is currently serving a 24-year sentence in a Federal Corrections Facility in the state of Colorado.

Jeff Skilling and the ENRON Corporation

While Jeff Skilling was hired by Kenneth Lay as a result of Skilling’s apparent financial and business acumen, the mention of the name ‘Jeff Skilling’ is most commonly associated with his respective participation in the ENRON scandal. The ENRON scandal is considered by a vast array of both historians and economists as being one of the most notorious and publicized financial scandals ever to have taken place within the United States.

The Role of Jeff Skilling in the ENRON Scandal

Although Jeff Skilling was not found to primarily responsible for the losses resulting from the ENRON scandal, he was found to be responsible for a multitude of criminal activity instrumental in the scandal itself:

Government Deregulation of ENRON

The declarationof government deregulation with regard to the ENRON Corporation, an act masterminded by Jeff Skilling, ENRON executives were permitted to control the content of earnings reports released to both investors and employees:

The release of these earnings reports took place despite the lack of validity and authentication with regard to their respective contents – while the ENRON Corporation was secretly bankrupt, Jeff Skilling orchestrated the release of earnings reports illustrating rampant and wild financial gain

Securities Fraud

Securities fraud conducted by Jeff Skilling – in concert with a number of other ENRON executives – involvedthe unlawful and illegal methodologyundertaken with regard to not only reporting of earnings, but the mismanagement and misappropriation of funds:

Jeff Skilling masterminded insider trading activities in whichhe illegally undertook the unlawful and unethical application of information not privy to the general public in order to render profit and benefit resulting from clandestine investment activity

Financial Consequences Attributed to Jeff Skilling

Jeff Skilling’s actions – in tandem with a number of other ENRON executives – have been recognized as resulting in upwards of $72 billion in financial losses:

Economists, historians, and law enforcement agents illustrate that approximately $70 billion was unlawfully misappropriated from individuals who had invested in the ENRON Corporation; as a result of the misrepresentation enacted by Jeff Skilling with regard to ENRON’s investors, the fallacious earnings reports fostered an increase of investment activity – this resulted in the subsequent embezzlement of incoming investment capital

In addition to the financial loss resulting from Jeff Skilling’s defrauding of ENRON’s investors, ENRON became insoluble due to the misappropriation of funds required to maintain business operations with regard to ENRON Corporation; following the discovery of the fraud committed by Jeff Skilling, ENRON was deemed to be insolvent – this insolvency resulted in the loss of pensions and stock options belonging to an estimated 22,000 employees and trustees.

What is Organized Crime?

Organized Crime is classified as a criminal activity conducted through the involvement of criminal groups and organizations typically working in tandem and in concert on a collective basis; this type of crime is renowned for its involvement of illegal commercial and financial activity including the undertaking ofmethodologies considered to be clandestine, fraudulent, deceptive, and illegal in nature.

Types of Organized Crime

Within the scope of Organized Crime, there are a seemingly-endless amount of applications with the regard for a collective undertaking of criminal activity; however, within the 20th century – as well as the beginnings of the 21st century within the United States – 2 primary measures of Organized Crime are considered to be the most prevalent:

Financial Organized Crime

Organized Crime taking place within a financial setting is classified as such resulting from the legislation applicable to the nature of the implicit criminal activity undertaken. Common activities latent within Financial Organized Crime may include the exchange and circulation of monies or currency in an unethical, unlawful, and illegal fashion; in the scope of a charge,this type of Organized Crime can occur in a variety of fashions, including:

Money Laundering

Embezzlement

Securities and Exchange Fraud

Accounting Fraud

Forgery and Counterfeit

Ponzi and Pyramid Schemes

Insider Trading

Financial Espionage

Conspiracy

Solicitation

Financial Blackmail and Extortion

Commercial Organized Crime

Commercially-based Organized Crime presents itself largely in the form of Racketeering. Racketeering is classified as a variety of criminal activityinvolving an illegal business or commercial venture. The implicit activity of Racketeering is neither specific to business operations nor commercialized endeavors; due to the fact that a wide array of commercially-based Organized Crime exists, the application of this criminal activity is fairly-expansive:

Racketeering may range in the scope of the legality with regard to the nature of the products and services that are marketed within this illegal endeavor; in certain cases, the products and services marketed within commercially-based Organized Crime endeavors are not inherently illegal – this can include taxed items, such as cigarettes, alcohol, and commercially-available items

In contrast, the undertaking of Commercially-based Organized Crime rooted in the provision of products and services deemed to be illegal is not uncommon; the expressed legality of the products and services is typically immaterial, due in part to the actions undertaken are inherently illegal – examples of illegal products and services may include prostitution, embezzlement, and the commercial sale of illegal drugs

Legislation Enacted With Regard to Organized Crime

The Racketeer Influenced and Corrupt Organizations Statute (RICO) is a legislative act passed by the Federal Government in order to quell the activity, formation, and proliferation of organized crime in the United States of America, both on commercial and financial levels:

The RICO statutes were enacted in order to solidify a method undertaking both legal and punitive restitution with regard to criminal activity occurring on an organized and collective basis

The classification of the nature of Organized Crime, despite the methodology or respective activities taken are considered to be less pertinent than the inherent criminal activity employed; as a result, the charge of criminal conspiracy is largely applicable to charges regarding Organized Crime activity