PEG
PEG or peg may refer to:
Devices
Science and computing
Recreation
Fixed exchange-rate system
A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime where a currency's value is fixed against either the value of another single currency, to a basket of other currencies, or to another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate. A fixed exchange rate is usually used in order to stabilize the value of a currency by directly fixing its value in a predetermined ratio to a different, more stable or more internationally prevalent currency (or currencies), to which the value is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, the way floating currencies will do. This makes trade and investments between the two currency areas easier and more predictable, and is especially useful for small economies in which external trade forms a large part of their GDP.
A fixed exchange-rate system can also be used as a means to control the behavior of a currency, such as by limiting rates of inflation. However, in doing so, the pegged currency is then controlled by its reference value. As such, when the reference value rises or falls, it then follows that the value(s) of any currencies pegged to it will also rise and fall in relation to other currencies and commodities with which the pegged currency can be traded. In other words, a pegged currency is dependent on its reference value to dictate how its current worth is defined at any given time. In addition, according to the Mundell–Fleming model, with perfect capital mobility, a fixed exchange rate prevents a government from using domestic monetary policy in order to achieve macroeconomic stability.
Apology
Apology or apologise may refer to:
Literature
Film
Music
Apology (horse)
Apology (1871–1888) was a British Thoroughbred racemare who was the third winner of the Fillies' Triple Crown, winning the Epsom Oaks, 1,000 Guineas Stakes and St. Leger Stakes in 1874. Apology was bred and owned by the Reverend John William King, the vicar of Ashby de la Launde, whose ownership of the mare caused a minor scandal in the Church after Apology won the St. Leger Stakes. King ultimately had to resign his clerical appointments due to the scandal and died shortly thereafter of a chronic illness. Apology raced until she was five years old, winning the Ascot Gold Cup in 1876. She was retired from racing at the end of 1876 to become a broodmare initially for the widow of John King, and then for Clare Vyner. Apology was euthanised in 1888 after an extended illness.
Background
Apology was bred by the Reverend John William King, who owned her during her racing career. King was the vicar of Ashby de la Launde and had inherited his father Colonel Neville King's Thoroughbred stud and racing stables at the death of his elder brother. Rev. King lived at Ashby Hall in Lincolnshire and raced his horses under the nom de course "Mr. Launde" from 1861 until his death in 1875.
Apology (Xenophon)
The Apology (in full Apology of Socrates to the jury; Greek: Ἀπολογία Σωκράτους πρὸς τοὺς Δικαστάς) is a Socratic dialogue by Xenophon, a student of Socrates. It recounts Socrates' self-defense at his trial and execution, focusing prominently on his view that it was better to die before senility set in than to escape execution by humbling himself before an unjust persecution. It is the only surviving primary account of the trial other than Plato's Apology.
History
Specialists believe that Xenophon's interpretation of the trial was written in response to a widespread literary reaction following the trial, where Athenian public figures and authors used the theme of Socrates's trial to state their views on his guilt. Xenophon presents his account as being the only one of them that made Socrates' "boastful manner of speaking" (megalēgoria) at the trial understandable. Xenophon was away at the time of the events, involved in the events of the march of the Ten Thousand. He cites Hermogenes as his source for the factual elements of Socrates' speech. It is probable that Hermogenes had indeed witnessed the trial: although Plato's Apology does not mention his presence, his Phaedo lists Hermogenes among those who were present at Socrates' death.
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