Problem: With the financial expansion, trading rights became more jealously guarded by the commercial elite. Towns saw the growing power of guilds, while on a national level special companies would be granted monopolies on particular trades, like the English wool Staple. The beneficiaries of these developments would accumulate immense wealth. Families like the Fuggers in Germany, the Medicis in Italy, the de la Poles in England, and individuals like Jacques Coeur in France would help finance the wars of kings, and achieve great political influence in the process.
Where was Jacques Couer from?
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Answer: France


Problem: The city of Jerusalem is of special importance to Jews, Muslims and Christians as it is the home of sites that are pivotal to their religious beliefs, such as the Old City that incorporates the Western Wall and the Temple Mount, the Al-Aqsa Mosque and the Church of the Holy Sepulchre. Other locations of religious importance in Israel are Nazareth (holy in Christianity as the site of the Annunciation of Mary), Tiberias and Safed (two of the Four Holy Cities in Judaism), the White Mosque in Ramla (holy in Islam as the shrine of the prophet Saleh), and the Church of Saint George in Lod (holy in Christianity and Islam as the tomb of Saint George or Al Khidr). A number of other religious landmarks are located in the West Bank, among them Joseph's Tomb in Nablus, the birthplace of Jesus and Rachel's Tomb in Bethlehem, and the Cave of the Patriarchs in Hebron. The administrative center of the Bahá'í Faith and the Shrine of the Báb are located at the Bahá'í World Centre in Haifa; the leader of the faith is buried in Acre. Apart from maintenance staff, there is no Bahá'í community in Israel, although it is a destination for pilgrimages. Bahá'í staff in Israel do not teach their faith to Israelis following strict policy. A few miles south of the Bahá'í World Centre is the Middle East centre of the reformist Ahmadiyya movement. Its mixed neighbourhood of Jews and Ahmadi Arabs is the only one of its kind in the country.
Where is Rachel's Tomb?
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Answer: Bethlehem


Problem: This credit freeze brought the global financial system to the brink of collapse. The response of the Federal Reserve, the European Central Bank, the Bank of England and other central banks was immediate and dramatic. During the last quarter of 2008, these central banks purchased US$2.5 trillion of government debt and troubled private assets from banks. This was the largest liquidity injection into the credit market, and the largest monetary policy action, in world history. Following a model initiated by the United Kingdom bank rescue package, the governments of European nations and the USA guaranteed the debt issued by their banks and raised the capital of their national banking systems, ultimately purchasing $1.5 trillion newly issued preferred stock in their major banks. In October 2010, Nobel laureate Joseph Stiglitz explained how the U.S. Federal Reserve was implementing another monetary policy —creating currency— as a method to combat the liquidity trap. By creating $600 billion and inserting[clarification needed] this directly into banks, the Federal Reserve intended to spur banks to finance more domestic loans and refinance mortgages. However, banks instead were spending the money in more profitable areas by investing internationally in emerging markets. Banks were also investing in foreign currencies, which Stiglitz and others point out may lead to currency wars while China redirects its currency holdings away from the United States.
What did the banks chose to do with the money created by the Federal Reserve instead of financing more domestic loans and refinancing mortgages?
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Answer:
investing internationally in emerging markets