??Why the United States can never run out of money
I think Alan Philps, who wrote US voters will choose between two delusions - and no dreams (August 17), misunderstands the United States' economy and monetary system.
The US is an issuer of a fiat currency that it alone has the sole power to create. The only limitation to such creation is inflation.
As such, the US can never "run out of money" or go involuntarily bankrupt. In such a system, to say the country is "living beyond its means" has no meaning.
The money that the US borrows all originates with the US government. Trading partners maintain their piles of US bonds because they don't have any other choice if they want their currency to remain competitive.
Although it is a law to sell bonds for spending above tax revenues, there is no operational reason to do so. The Treasury could spend and the Federal Reserve could credit the excess reserve accounts, which are not counted as debt.
Many nations have this system - including the UAE, UK, Canada, Australia and Japan.
The euro nations, on the other hand, use a foreign currency over which they have no control.
That is why they are in trouble. They are currency users while the US and other nations are currency issuers.
John Wilkins, Dubai
Aussie appreciates celebration of Eid
In reference to Nothing's simple about Eid overseas (August 18), I saw a group of Muslims, mainly international university students, celebrating Eid in the park near my house.
They were all in their varied national costumes and it was quite beautiful.
D Frith, Australia
Dark night indeed for Batman fans
Dark Knight sets before it rises as Imax equipment fails to deliver (August 18) caused me to smile.
While I feel sorry for the Batman fans who wanted the full-on Imax experience, and now have to wait, I can't help but think there is some sort of poetic (or cinematic) justice at play here given the release of the film has already been held back in the UAE for a month. Trevor Long, Abu Dhabi
ATM users should not keep money
Regarding Marina ATM gives wrong value for money (August 17), the people who received more money by mistake may have to refund the money to the bank.
If not, they may face criminal charges. I believe that was the case when a similar incident happened with an ATM from another bank about a decade ago.
Karpaka Rajan V Chettiar, Abu Dhabi
I know Eid is a time for giving, but perhaps this is taking it too far.
Ian Dunn, Abu Dhabi
UN powerless to stop atrocities
Regarding UN appoints new mediator for Syria (August 18), the United Nations is useless. It is time to change the status quo in the world.
Let's concentrate our efforts on people, not artificial, outdated political structures.
Although the UN spends a large percentage of its budget on peacekeeping, it has failed to stop several incidents of genocide and other atrocities throughout the world.
David Yesh, US
Unravelling the Modric mystery
Regarding Modric and Song moving to pastures new (August 19), one day Luka Modric is being traded; another day he is on an airplane; next day Spurs are holding firm for £40 million (Dh230 million).
Every day, it seems, there is a different story about one of the best football players.
He was promised a trade last year if he played well. He played well, but he is being traded for a price that is too high. It is hard to believe that Modric will be playing for anyone except Spurs this year.
J Mack, Dubai
Beauty contest is past use-by date
I was somewhat surprised to read Chinese beauty wins Miss World (August 19), because I thought this competition no longer existed.
While some people find the idea of beauty contests offensive, I simply don't think it is possible, or advisable, to judge one woman more beautiful than all others. James Holder, Dubai
Ratings agencies are under a cloud
Regarding Moody's and S&P set to face US fraud claim (August 19), if these allegations are proven, what will be the credibility of the accused parties in the future?
Naeem Ul Fateh, UK
Killing of Qassem Suleimani
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
if you go
The flights
Fly to Rome with Etihad (www.etihad.ae) or Emirates (www.emirates.com) from Dh2,480 return including taxes. The flight takes six hours. Fly from Rome to Trapani with Ryanair (www.ryanair.com) from Dh420 return including taxes. The flight takes one hour 10 minutes.
The hotels
The author recommends the following hotels for this itinerary. In Trapani, Ai Lumi (www.ailumi.it); in Marsala, Viacolvento (www.viacolventomarsala.it); and in Marsala Del Vallo, the Meliaresort Dimore Storiche (www.meliaresort.it).
UAE currency: the story behind the money in your pockets
Origin
Dan Brown
Doubleday
PREMIER LEAGUE FIXTURES
Tuesday (UAE kick-off times)
Leicester City v Brighton (9pm)
Tottenham Hotspur v West Ham United (11.15pm)
Wednesday
Manchester United v Sheffield United (9pm)
Newcastle United v Aston Villa (9pm)
Norwich City v Everton (9pm)
Wolves v Bournemouth (9pm)
Liverpool v Crystal Palace (11.15pm)
Thursday
Burnley v Watford (9pm)
Southampton v Arsenal (9pm)
Chelsea v Manchester City (11.15pm)
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
THE%20SWIMMERS
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ESally%20El-Hosaini%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ENathalie%20Issa%2C%20Manal%20Issa%2C%20Ahmed%20Malek%20and%20Ali%20Suliman%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
