Forbes.com: News

2009年11月12日星期四

Why it's Important to Understand Economics

Some may think that economics is too difficult a subject to be taught to children and youth, and that such instruction should wait until college. Nothing could be more incorrect.

by William Walstad - Director, National Center for Research in Economic Education, University of Nebraska


The case for economic literacy is a strong one. George Stigler, a Nobel Laureate in economics, probably stated it best almost three decades ago when he wrote: "The public has chosen to speak and vote on economic problems, so the only open question is how intelligently it speaks and votes." In Stigler's view, economic literacy is special because it contributes to two classes of knowledge. First, it serves as a "means of communication among people, incorporating a basic vocabulary or logic that is so frequently encountered that the knowledge should be possessed by everyone." Second, it is a "type of knowledge frequently needed and yet not susceptible to economical purchase from experts."

Economic literacy certainly contributes to the first class of knowledge. People like to think and talk about the economic issues that affect them as consumers, workers, producers, investors, citizens and in other roles they assume over a lifetime. Economic literacy also gives people the tools for understanding their economic world and how to interpret events that will either directly or indirectly affect them. Nations benefit from having an economically literate population because it improves the public's ability to comprehend and evaluate critical issues. This understanding is especially important in democracies that rely on the active support and involvement of its citizens.

Economic literacy contributes to a second class of knowledge. For some economic decisions, such as buying a home or investing in the stock market, it is possible to hire professional or technical help when making a choice, but in most cases it is neither economical nor practical for an individual to hire a skilled professional every time an economic decision needs to be made. Even when such advice is given, the final choice must be made by the individual, not the adviser. What this means is that each person must ultimately serve as his or her own economist in making many economic choices, whether those choices involve buying a product, getting a loan, voting on candidates and economic issues, or something else. Economic literacy improves the competence of each individual for making personal and social decisions about the multitude of economic issues that will be encountered over a lifetime.

Economic Education

Whether there is a case for economic literacy, however, is not the most important question that needs to be answered. George Stigler and many other distinguished economists and individuals have already made that case. The more essential question to be asked is: How can we improve economic literacy in our society? Answering that question naturally turns the focus to economic education.

The development of economic literacy must begin in the schools. Even young children are capable of learning basic economic concepts that help them understand their economic world. In the secondary years, that initial foundation can be expanded to include instruction in a broader set of economic ideas and concepts. This additional education gives students greater capacity to understand more complex personal or national economic issues.

Some may think that economics is too difficult a subject to be taught to children and youth, and that such instruction should wait until college. Nothing could be more incorrect. No one would even think of making such an argument for math or science education. Waiting until students are in college to teach economics is simply a matter of "too little and too late." The majority of students end their formal education with secondary school, and even those students who continue their learning at a college or university may not take an economics course. The fact is that the best opportunity for economic education occurs before graduation from high school.

There are three essential ingredients for effective economic education in the schools. First, teachers must be knowledgeable about the subject and be able to help students learn how to use basic economic concepts to analyze personal and social issues. Second, good curriculum guides and instructional materials are needed that present economic content at an appropriate level for the student to understand. Third, economics must have a central place in the school curriculum—similar to math, science, history and language arts—so that substantial classroom time is devoted to economics instruction.

Over the past 40 years there has been a significant improvement in each area.

Teachers now have more economic knowledge because they are taking more economics courses. Instruction in economics in the classroom is more analytical and less descriptive because of the development of curriculum guides and national standards. There are now many high quality textbooks and supplementary materials for instruction. More high school graduates are completing an economics course and more instructional time is devoted to economics throughout the school curriculum.

The Evidence

Although there has been progress, much more needs to be accomplished in the coming decades if we are to produce an economically literate population. A major problem in this nation is that too few students are receiving an economic education before they graduate from high school. A study of high school transcripts shows that only about 44 percent of high school students take a separate course in economics. This course is usually offered in the 12th grade as an elective and lasts for only a semester. Although more states have made economics a required course for students, only 16 states require high school graduates to take some sort of economics course before graduation.

Given this situation—that fewer than half of high school graduates take a course in economics—it should not be surprising that study after study show that there is widespread economic illiteracy among youth and the American public. In one such study, I administered the Test of Economic Literacy, an achievement measure covering basic economic concepts, to 11th and 12th grade students nationwide and found that students supplied correct answers to less than half the questions. In another study I conducted with The Gallup Organization, I found that less than four in 10 high school seniors or adults could answer basic questions about economic terms and concepts that are essential for understanding economic events and issues reported in the news media. No matter what the economic content of questions or the test format, the study results remain the same—youth and adults show a great deal of ignorance when it comes to basic economics.

Youth are aware of their deficiencies because they give themselves low self-assessments of economic understanding in survey studies. Some 87 percent of high school seniors rated their knowledge and understanding of economic and economic issues as only fair or poor. (Among the general public, 83 percent gave the same responses.) One reason for these low self-ratings is that high school students are well aware that they are not receiving an adequate education in economics. When asked whether they were taught a lot, a little or nothing at all about how the economy works, 76 percent said that they were taught little or nothing. (Compare that percentage with the 7 percent who said they were taught little or nothing about mathematics.) In addition, both high school students and the general public had a recommendation for what should be done: Over 96 percent said the nation's schools should teach more about how our economy works.

The Consequences

The question that can be asked at this point in the discussion is "So what?" Why does it matter whether a student has taken an economics course or knows something about basic economic concepts? The answer is that economic knowledge has a direct and substantive effect on people's opinions about economic issues. This relationship can be illustrated with two examples from national survey studies.

The microeconomic example goes to the heart of support for a market economy. One knowledge question asked youth to respond to the following statement: To the best of your knowledge, the prices of most products in a competitive market, like the United States, are determined by: (a) supply and demand for products; (b) the consumer price index; (c) local, state, or the Federal government; (d) the monetary policy of the Federal Reserve. Just five in 10 youth knew that the prices of most products in a competitive market were determined by supply and demand. Two in 10 thought that prices were determined by the consumer price index. Another two in 10 believed that prices were determined by government. The remainder either thought prices were set by the monetary policy of the Federal Reserve or did not know.

Knowing what determines prices in a market economy and accepting the outcomes are two different things. If demand or supply conditions change, prices in a competitive market will rise and fall. Having a basic understanding of how markets work does not always mean that people will like price changes, especially if prices rise, but it should increase the probability of accepting the market outcome.

An opinion question was also asked to probe the degree of support among youth for the operation of competitive markets: A bicycle manufacturer raises the price of bikes because the demand increased even though the cost of producing bikes has not increased. Do you think the manufacturer should be allowed to raise prices? Two-thirds of youth said they were opposed to allowing the bike manufacturer to raise prices, which is certainly not a ringing endorsement of competitive markets. In fact, there are many examples of businesses raising prices based on increased demand. The prices for seasonal clothing are higher at the beginning of the season than at the end. Airfare rises in peak travel periods. Auto dealers raise prices (or give fewer discounts) when particular models become popular.

When you cross-tabulate the responses to the economic knowledge and opinion questions, a distinct pattern emerges. Among youth who knew that supply and demand determined the prices in a competitive market, 60 percent would allow the bike manufacturer to raise prices. Among youth who gave an incorrect response to the knowledge question, only 41 percent thought the bike manufacturer should be allowed to increase prices. The differences in the percentages show that what many youth know about how markets work directly affects their acceptance of the market result.

For a macroeconomic example, the basic economic question was: What is an example of monetary policy? Would it be a change in: (a) the discount rate; (b) a change in Federal government spending; or (c) a change in corporate profits. Only 17 percent of high school students knew that a change in the discount rate was an example of a change in monetary policy. About four in 10 thought it was a change in government spending (fiscal policy), about two in 10 thought it was a change in corporate profits, and another two in 10 did not know.

Although most high school students were ignorant of what monetary policy was, they were quite willing to give their opinion on this monetary policy question: Who should set monetary policy? Should it be: (a) the President; (b) the Congress; (c) the Federal Reserve; or (d) the United States Treasury? This issue is important because it determines whether there will be an independent central bank, isolated from direct political pressure, that can effectively control the money supply and maintain price stability. Only 16 percent of youth thought the Federal Reserve should be responsible for setting monetary policy.

When responses from the monetary policy knowledge and opinion questions were cross-tabulated, they show that there were significant differences in the support for the Federal Reserve having control over monetary policy in the United States based on the respondent's correct or incorrect responses to the knowledge question. Among high school students who could give a correct example of a change in monetary policy, 32 percent thought it should be set by the Federal Reserve, but among high school students who gave incorrect examples only 15 percent thought that monetary policy should be set by the Federal Reserve.

Similar cross-tabulations of opinion and knowledge questions on such topics as unemployment, the federal budget, economic growth, profits or trade protectionism could be performed with survey data to demonstrate the same point. Survey data have also been collected from the general public on these topics and the cross-tabulations show the same patterns as those for youth. The survey findings clearly indicate that what youth and adults know about basic economics affects what they think about an economic issue. What is especially disturbing is that people who have no basic knowledge about an economic issue are quite willing to state an opinion on that issue. This knowledge deficiency affects people's ability to evaluate economic matters and produces uninformed opinions. Among the informed, of course, there will still be differences about what should be done on an issue, but it provides a solid basis for a reasonable discussion of economic alternatives.

The development of basic economic literacy is an important goal for a democratic society that relies heavily on informed citizenry and personal economic decision-making. To achieve that goal will require that significant gaps in the economic education of youth be closed by giving economics a more central place in the school curriculum. More economics coursework at the precollege level sets a foundation for economic literacy, but it is only the beginning. As George Stigler reminded us long ago: "We shall have to combine vast efforts and creative experimentations if we are to produce the first economically literate society in history."

References

Stigler, George J. (1970). "The Case, if Any, for Economic Literacy," Journal of Economic Education, 1:2, 77-84.

Walstad, William B. (ed.). (1994). An International Perspective on Economic Education. Boston: Kluwer Academic Publishers.

Walstad, William B. (1996). "Economic Knowledge and the Formation of Economic Opinions and Attitudes." In P. Lunt and A. Furnham (eds.), Economic Socialization: The Economic Beliefs and Behaviours of Young People (pp. 162-182). Cheltenham, UK: Edward Elgar.

Walstad, William B. (1996). Youth and Entrepreneurship. Kansas City, MO: Kauffman Center for Entrepreneurial Leadership, Inc.

Walstad, William B. (1997). "The Effects of Economic Knowledge on Public Opinion of Economic Issues," Journal of Economic Education, 28:3, 195-205.

Walstad, William B. and Larsen, M. (1992). A National Survey of American Economic Literacy. Lincoln, NE: The Gallup Organization.

Walstad is director of the National Center for Research in Economic Education and Edwin Faulkner Professor of Economics at the University of Nebraska-Lincoln. Since 1992 he has been associate editor of the Journal of Economic Education and is a past president of the National Association of Economic Educators. Walstad, who is the author of several hundred scholarly works in economic education, is also well known for his national assessments of economic understanding and prepared a report on American economic literacy with The Gallup Organization in 1992.

Walstad received his doctorate in economics from the University of Minnesota and served on the economics faculty at the University of Missouri-St. Louis prior to coming to Nebraska.

U.S. federal deficit hits 176 billion dollars in October

WASHINGTON, Nov. 12 -- U.S. federal deficit hit a record 176.4 billion U.S. dollars in October, reported the Treasury Department on Thursday.

The budget imbalance outpaced economists' expectation of 150 billion dollars.

The deficit for the 2009 fiscal year, which ended on Sept. 30, set an all-time record in dollar terms of 1.42 trillion dollars, tripling last year's record.

Treasury Secretary Tim Geithner said last month that the skyrocketing federal deficit was inherited from the George W. Bush administration.

Besides, it was a result of the government's actions to tackle the worst economic recession since the Great Depression of 1930s.

The U.S. administration has launched a 787-billion-dollar stimulus bill to boost the economy and has spent another 700 billion dollars to stabilize the financial system since President Barack Obama took office at the beginning of the year.

Experts worry the federal deficit would be unsustainable if the government did not impose fiscal discipline.

"The president recognizes that we need to put the nation back on a fiscally sustainable path," White House Budget Director Peter Orszag said.

But critics argue that the government has not yet taken the problem seriously.

Economists worry such deficits could push up interest rates, adding a further drag on the fragile economic recovery.

Six steps to help you save money



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You have a nice salary, but you still feel short of money. At the end of each month, you often ask yourselves, "Where has all my money gone"? To help you better manage your salary, here comes some money saving tips. Following them your daily expense will be cut off easily, but still keep the quality of your life.

First, you need to set ambitious goals to encourage you to save money. For example, you plan to have a formal dress in one year, to own a car in two years' time or to buy an apartment in five years.

Second, form money saving habits while stay away from those that waste money. Learn to keep a diary of how much you spend and what it's for. Think twice before using money on expensive skin care products. The best ways to keep your skin in good condition is sufficient sleep.

Third, economize your daily expense. Change electric wares into energy efficient ones and leave no more than one light open when you leave home. Buy vegetables from a market not a supermarket where vegetables are less expensive and more fresh. When going to a supermarket, take a notebook with you. Write down what you wanna buy to avoid buying unnecessary stuffs. For things like shampoo, soap or washing powder, buy the family pack.

For girls, who always spend money on clothes, there are some rules helping cut off the expense. Keep an eye on discounts information, you're likely to buy good summer dress in winter in a reasonable price. Shopping malls issue membership cards periodically. Go and get one if it's free, it may give you special discounts.

Fifth, economize your social life. Package the leftovers for next day when you have dinner in a restaurant. When it's your turn to offer a meal, invite your friends to your home, cook the dinner yourself. If you are to attend a wedding ceremony and an expensive present is needed, ask several friends to go together to share a present. When separate from your boyfriend, send the gifts he sent you to your friends instead of throwing them away

While reducing expenditures, you need broaden your way earning money. Find yourself a part-time job if you are energetic enough, which gives you more working experience. Give birth to your money. If you are not good at making investments, talk to a financial consultant and entrust your savings with him.

Use credit cards for more gifts and discounts(1)

Recently more and more people are buying with bank cards and credit cards, not just for the convenience, but also for the gifts and discounts. So in this season of sales, many banks are offering special deals for bank card and credit card users. Read on to find great deals for shopping with cards!

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Buying gifts

Huaxia Bank

Until March 8th, 2007, If Huaxia bank card holders (including Liren, Zhizun Gold and all co-branded cards) use their card over 20 times, and spend an accumulated RMB10,000, their names will be entered in a draw for a free Sony digital camera worth RMB 4,999.

Industrial Bank

Until March 31st, 2007, if customers use their Industrial Bank credit cards over three times and spend over RMB99 each time, they will receive a free China Mobile rechargeable card worth RMB50 for regular card holders and RMB150 for Gold card holders.

China CITIC Bank

Until February 28th, 2007, China CITIC credit card holders can buy home appliances at certain stores (including Anzhen Gome, Sijiqing, Suning and Pengrun) on installment plans. They are also entitled to a free pig-shaped hand-warmer for every RMB1,500 purchase.

Guangdong Development Bank

Customers who use their bank cards six times for purchases of RMB199 or over will receive a free pig cushion worth RMB40. Customers who make over 6 purchases of over RMB599 or make two purchases worth RMB2,007 with their cards will receive a free Aigo Flashdisk worth RMB150. Customers that use their cards for six purchases of over RMB999 or their bank cards three times for purchases above RMB2,007 will receive an I-Fish digital pet worth RMB380.

Bank of Communications

Cooperating with the New World Department Store, the Bank of Communications has issued a kind of special card by which card users can exchange points on the card for shopping vouchers at the New World Department Store.

China Merchants Bank

From now to February 28th, 2007, China Merchants Bank will give presents to customers according to the times they use their cards. The more frequently customers use their cards, the higher their chances of winning a prize. The top 100,000 card users who withdraw over RMB100 will get a pair of 'Piggy Family' toys. The top 400,000 users that spend over RMB20 each time will receive a free pig toy.

China Everbright Bank

In the next four weeks, if you use one credit card at least once a week and the total is more than RMB 4,000, customers will receive a set of dishes and a fishing chair for free. If the total is more than RMB2,000, customers will receive a free home cleaner.

How To Exchange RMB In China

  A foreigner can bring cash and change it at the Bank of China for RMB. Foreign money can be exchanged in China through traveler‘s cheques, currency conversion at banks and hotels. Credit cards can also be used. What follows is a more detailed explanation. Enjoy your trip!
  
  Traveler‘s Cheques
  
  Traveler‘s cheques provide a fairly secure way of carrying money. The Bank of China can cash travelers‘ cheques sold by international commercial banks and travelers‘ cheque companies in the United States, Canada, Australia, Hong Kong, Japan, Britain, France, Switzerland, Germany and other countries and regions. Also the Bank of China sells travelers‘ cheques for such banks as American Express, Citibank, Tongjilong Travelers‘ Cheque Co., the Sumitomo Bank of Japan, the Swiss Banking Corporation and others.
  
  Currency Conversion
  
  Money exchange facilities for both currency and travelers‘ cheques are available at major airports, hotels, and department stores. Please note that hotels may only exchange money for their guests. The US dollar, British pound, French franc, German mark, Japanese yen, Australian dollar, Austrian schilling, Belgian franc, Canadian dollar, HK dollar, Swiss franc, Danish Krone, Singapore dollar, Malaysian ringgit, Italian lira, Macao dollar, Finnish markka, and Taiwan dollar are all exchangeable. Exchange rates fluctuate in line with international financial market conditions and are published daily by the State Exchange Control Administration.
  
  Keep your currency exchange receipts, because you will need to show them when you change RMB back to your own currency at the end of your visit to China. Currency rather than credit cards is essential in remote areas, and you should ensure that you carry sufficient RMB and travelers‘ cheques to cover your requirements.
  
  Credit Cards
  
  At present, the following credit cards are accepted in China: Master Card, Federal Card, Visa, American Express, JCB and Diners Card. Holders can draw cash from the Bank of China and pay for purchases at exchange centers of the Bank of China, appointed shops, hotels and restaurants. However, this applies only in major cities. Credit cards are not always accepted for the purchase of rail and air tickets. ATMs that accept foreign cards are few and far between. Do not rely on them as a way of obtaining cash in Mainland China.
  
  
  Consult with your bank before departing to make sure that your brand of cheque or credit card will be accepted.
  
  Currency Regulations
  
  There is no limit on the amount of foreign currency and foreign exchange bills that can be brought into China by tourists, but the amount must be declared to the customs.
  
  About RMB
  
  Chinese currency is called Renminbi (people‘s money), often abbreviated as RMB. Issued by the People‘s Bank of China it is the sole legal tender for both the Chinese nationals and foreign tourists. The unit of Renminbi is yuan and the smaller, jiao and fen. The conversion among the three is: 1 yuan = 10 jiao =100 fen. Chinese people normally refer to Yuan as Kuai, Jiao as Mao. RMB is issued both in notes and coins. The denominations of paper notes include 100, 50, 20, 10, 5, 2 and 1 yuan; 5, 2 and 1 jiao; and 5, 2 and 1 fen. The denominations of coins are 1 yuan; 5, 2 and 1 jiao; and 5, 2 and 1 fen.

Saving Money on Traveling

  When you are planning for an independent travel, you might need to work out a budget. The ideal vacation will give the most fun for the least spending. The following tips might help you save money in travels:
  
  1. In general, the expenses on transportation command a big part of the budget. Travel by train if you have enough time. You can save a lot in this way. An example is, from Chongqing Municipality to Beijing, a round-trip flight costs about 2,800 yuan (US$337), while a round-trip train ticket costs only 800 yuan. The difference reaches 2,000 yuan.
  
  2. It is also important to select the most economic vehicles after you have arrived at the travel site. Choose from city buses, taxis or shuttle buses for special routes to scenic spots. A good suggestion is to buy a map and design the most suitable transport route in advance.
  
  3. Hotel expenses can also cost a lot if you do not have good choices. It is important to bargain for the rate at each hotel. A good way is to book your room through a travel agent or an Internet travel service provider before you start traveling.

The English text advertising network: Infolinks vs Kontera

First statement: I have personal experience of the absolute, it is a classic case of foreign competition.

Do know that in English, foreign text of the ad network is only the beginning of a boss kontera, my site is done as early as Kontera, results also feel like, anyway, not as good as google, but at least be regarded as a supplement to the google. Then things changed, a new text of the advertising company infolinks joined the ranks of the competition. infolinks is the last year the company opened the beginning not many people's attention, but then people keep on dp said infolinks income kontera several times or even 10 times. Beginning not to believe that a small company, how do large companies than too Moreover kontera to me during this period to upgrade to the next level (operator senior member bar), so they do not intend to change to infolinks. 


One day, suddenly idle, bored, or else try infolinks, the test results found infolinks really good, much better than kontera times, the beginning has not dared to put in great efforts, and later kontera prices getting lower and lower, a hard-hearted, All put infolinks, this time infolinks indeed a good performance, the same flow of income can be much higher. 


After a period of time, kontera client manager not beat it, first asked me why I withdraw, I said that in testing, but also did not say the other. Then, after a period of time, kontera directly out of a Henzhao, 20% earn more programs, that is, 20% more than the infolinks even called me to infolinks income distributed to him, then give me back get a CPM program. Contents of the plan does not say, anyway, and its revenue was up. The code again infolinks removed and replaced kontera's. Like the original traffic, until now, is a multiple of earnings. And today received a message infolinks client manager, asked me why I removed, if there is any need, he can help. I can not answer, or say that can only be tested, Ha ha! So, as long as you do so to a certain extent the English site, when the value it appears, sometimes does not require you to think about how to make money, will naturally make you earn money. For the novice do Wangzhuan, please do not rush to think about how to make money, please do say the site! 


English stations have a certain flow, you can add infolinks try, infolinks does not require a minimum flow rate, while the relatively high flow requirements kontera right point, without a certain flow rate is not into it.

GM decides to file Chapter 11 bankruptcy as bondholder deadline passes(1)

General Motors Corp. president and Chief Executive Officer Fritz Henderson have scheduled a news conference in New York on Monday, when the Detroit automaker is expected to file Chapter 11 bankruptcy, according to media reports Sunday.

GM's board of directors met for a second day Saturday to make the final decision. The outcome of the meeting could not immediately be determined. GM and the Treasury Department, which has been guiding the Detroit automaker toward a rescue plan that will give taxpayers nearly a three-fourths stake in the company, went into secrecy mode.

GM decides to file Chapter 11 bankruptcy as bondholder deadline passes

A Dodge Nitro vehicle is seen in front of the General Motors Corp world headquarters in downtown in Detroit, May 28, 2009. General Motors Corp persuaded its major bondholders to accept a sweetened ownership plan on Thursday, a deal that could result in a smoother ride for the carmaker through bankruptcy. (Xinhua/Reuters Photo)
Photo Gallery>>>

GM's bondholders had a 5 pm Saturday deadline to accept an offer to swap their 27 billion U.S. dollars in debt for at least a 10 percent stake in a new GM. If the Treasury doesn't get the amount of support it wants, bondholders could wind up with far less in bankruptcy court.

The Treasury Department had no immediate comment on the deadline passing, and GM spokesman Tom Wilkinson said the automaker did not plan to make any statements Saturday.

In a typical Chapter 11 bankruptcy case, the company files a plan of reorganization that must be voted on by creditors. In each class of creditors, the plan would have to be approved by holders of two-thirds of the claims and a majority of the number of individual creditors who vote.

The auto maker, living on U.S. government loans, faces a Monday deadline imposed by the Obama administration to present a viable restructuring plan and access fresh federal aid. Bondholders disagreed on threatened efforts for a quick bankruptcy process that would allow GM to emerge with a sustainable balance sheet, removing much of the debt burden that has fueled losses alongside the slide in global auto sales.

U.S. President Barack Obama said a liquidation and bankruptcy would have been the only option in the absence of a U.S. majority stake in troubled General Motors Corp. and that he expected the government to own less than 72 percent.

"My preference would have been to stay out of it completely," Obama said in an interview with NBC News recorded on Friday at the White House and aired on Saturday. "But the alternative was to see a liquidation, bankruptcy in which an enormous institution with huge importance to our economy simply gets broken up in to pieces."

GM took a huge restructuring step Friday when the United Auto Workers union agreed to a cost-cutting deal, and early Saturday, Germany's finance minister said a plan was approved for Canadian auto parts maker Magna International Inc. to move ahead with a rescue of GM's Opel unit.

But there was still much to do to beat the government's Monday deadline to qualify for more aid. The company already has received about 20 billion dollars in government loans and could get 30 billion dollars more to make it through what is expected to be a 60- to 90-day reorganization in bankruptcy court.

The Treasury on Thursday offered bondholders 10 percent of a newly formed GM's stock, plus warrants to buy 15 percent more to erase the debt. Last week, GM withdrew an offer of 10 percent equity after only 15 percent of the thousands of bondholders signed up.

It was unclear how many bondholders took the latest offer, although a group representing large creditors who hold 20 percent of debt agreed to it. If the 15 percent who took the first offer are added in, that would make 35 percent.

Elliott Management Corp., a 13-billion-dollar hedge fund and major GM bondholder, also said it had decided to accept the new deal. But Spokesman Scott Tagliarino wouldn't say how much GM bond debt Elliott represents.

Getting as many bondholders as possible to sign on to the offer in advance of a bankruptcy filing could help the automaker get through the court process more quickly, said Robert Gordon, head of the corporate restructuring and bankruptcy group at Clark Hill PLC in Detroit.

"The more consensus you have, the more likely it is you'll be able to move through the bankruptcy process in an expeditious fashion with less resistance," Gordon said.

EU adopts legislation to lure skilled workers, punish employers of illegal workers

BRUSSELS, May 25 (Xinhua) -- European Union (EU) member states adopted two pieces of legislation on Monday to facilitate entry and residence in the EU of highly skilled third country nationals and to punish employers who give jobs to illegal immigrants.

The first directive establishes more attractive conditions for third country workers to take up highly qualified employment in EU member states, by creating a fast-track procedure for issuing a special residence and work permit called the "EU Blue Card."

EU adopts legislation to lure skilled workers, punish employers of illegal workers

A girl holding balloons walks past a board advertising the 2009 European Elections, placed outside the European Parliament during the European Institution's "Open doors day" in Brussels May 9, 2009.(Xinhua/Reuters File Photo)
Photo Gallery>>>

The Blue Card will facilitate access to the labor market to their holders and will entitle them to a series of socio-economic rights and favorable conditions for family reunification and movement across the EU.

The directive determines the common criteria to be set by the EU member states for applicants of the Blue Card without prejudice to more advantageous conditions provided for by national laws.

After 18 months of legal residence in the first member state as an EU Blue Card holder, the person concerned and his family members may move, under certain conditions, to a member state other than the first member state for the purpose of highly qualified employment.

The second legislation prohibits the employment of illegally staying third country nationals, by laying down minimum common standards on sanctions and measures against employers who infringe that prohibition.

Under the directive, employers in the EU are obliged to make sure that a third country national holds a valid residence permit before taking up employment, to keep for at least the duration of the employment a copy or record of the residence permit for inspection by the competent authorities of the member states, to notify the competent authorities of the start of employment of third country nationals within a period laid down by each member state.

Penalties for infringements of the prohibition will include financial sanctions, which will increase in amount according to the number of illegally employed foreigners, and payments of the costs of return in those cases where return procedures are carried out. Other sanctions may also be applicable to employers of illegal workers, such as exclusion from entitlement to public funding or from participation in public tenders.

Ways to make money on the Internet

From simetric.co.uk

Summary: Ways to make, earn or get money on the Internet with free to join search and survey web sites, affiliate schemes, referral linked sites, GPT get paid to; pay to search - PTS, pay to surf, pay to click - PTC pay to read emails - PTR and PTP - pay to promote. Web site tools like exchange banners, pop up windows and glide in or slide in ads. How to make a website pay, buy a domain name and hosting a web site .

Ways to make money on the Internet.

Earn small, but real money to start with - NOT the ' $1000+ a day' scams.
This site is simple to load quickly. No fancy graphics, just the honest facts.

First, you need some 'tools'.

A dedicated credit card for the Internet. more...
Open FREE Internet banking accounts to receive payment. more...
Disposable email addresses. more...
An 'always online' connection to the Internet. more...

Second, programs where you need to invest some money.


The risk is greater but the rewards can be huge!

High yield investment programs (HYIP) return high yields on your investment but are also high risk and of limited duration. Get in early with a sum you can afford to loose and earn 20% daily for a few days or 2% daily for a few weeks/months. Most use 'e-currency' so you will need to open free accounts here... To help in deciding which programs to invest in and when to pull out I have kept the statistics of several sites that have closed. This is a very volatile market but can be very profitable and exciting. A more detailed description is here.

Playing the Foreign Exchange markets. A very volatile area where returns can be huge. More details on another page here ...

Third, programs where you earn money but are free to join.


Trickle income, like these sites below, build up a bank balance, give you confidence and earn you some funds to invest in HYIP or other programs that require you to deposit money first.

Pay to Click (PTC) sites pay you a cent or less to click on advertisments every 24 hours. It may not sound much but it adds up while only a little time is required each day.


The following Bux sites are reliable and have $2 to $10 minimum payouts:- Neobux (proof), BuxP (proof).


DonkeyMails stiil popular after years online - the classic 'paid mail' program.
ClixSense is another established program that pays 1c a click and also good for your own ads.


Bookmark your log-in page, remember your password and check your account several times daily for ads to click on.


You can upgrade your account by purchasing referrals.
Wait for the ad to load and then watch the 10 to 30 second timer count down. If you open two ads at the same time you will be paid for none of them. Be fair to the advertisers.


You can earn about 4c to 10c daily from one Bux/Mail site as a free member but a lot more if you upgrade. If you join 10 similar sites you can earn $1 a day in 30 minutes even without buying referrals!


Remember to bookmark this page and all the sites you join to make it easier to return daily.

MyLot is a great program for people who like to chat and earn a few cents a day at the same time! The range of subjects is enormous and from all over the world. Upload pictures from your computer, list your passions and other features. But beware - this program can become infectious!! Payment is by PayPal so you will need to get a free PayPal account . I have been paid 19 times by MyLot - here is June and July

Bukisa will pay you for submitting short articles on a wide variety of subjects. This site is aimed at the more knowledgeable surfer who has the expertise to pass on their experience in good English. Pay is based on 1000 views of your articles at a rate that varies with the site income. At the moment this is between $3 and $4 CPM. Payout minimum is $10. Here is a tutorial on how to submit content and here is an example of an article on web site stats . Here is proof of payment to me.

GetPaidTo join programs! Sign up for any of the 1550 free cash offers available and get paid instantly through Paypal. For instance, join Ebay and get $7 (so long as you are not already a member). Low minimum payout of $0.50 which you can earn in minutes with a daily survey. Free to join. Open only to USA, Canada and UK residents, like a lot of these GPT programs. Most offers are free but some require a purchase which are clearly marked. Please be truthful when joining and giving information and best to use a dedicated email address as you will get many replies.


Go here to see the payment process and proof of payment to my PayPal account


And here are some tips on how to do offers and set up your PC to earn with GPT programs.

PayByOffers is a new site from the same stable as GetPaidTo above but is open to members from many more countries and they are adding new countries all the time. You can earn money and win prizes here very quickly as well. Screengrab of my requst for payment - 37 minutes later it is in my Paypal account!

Here is a tutorial on how to make a valid search . It will take longer than the 40 seconds shown to finish loading three pages but if the advertiser doesn't get paid, you wont get the links in the future.

Rpoints is aimed at UK/Euro surfers comparing prices of goods.
An example of how Rpoints worked to save me 36% off my UK car insurance is here...


This shows that you can save money and make money using Rpoints.
Rpoints is a great tool to use when trying to find the best deal, you can find deals on almost everything from life insurance to new computer software.
I also received £20 (2,000 points) cashback for opening an Egg credit card. It really works!.


Go to 'easy money' then 'recurring' where comparing prices earns about 2p to 6p a click up to a max of about £1 a day. Rpoints are ultra-cautious about awarding points. They take days to check, then credit, your points and then a month or more to validate them before you can cash in. A good forum explains all this. But, once the ball is rolling and you're clicking every day, the cash rolls into PayPal at £5 minimum a time and in £sterling too so you can have dollar and sterling PayPal accounts to save on exchange rates.

Higher Payouts from 'free to join' programs.

Normally I avoid very high payout programs where it sometimes takes a year to reach the minimum by which time the site may have vanished!

You WILL get paid with these programs; about $35 to $50 a month for just these programs and there are dozens more to choose from. Join up, add to your favourites or put an icon on your desktop by dragging on a links page for each program and visit the sites at intervals through the day and earn a bit each time. It soon adds up.

I can get you referrals. Contact me for details on how its done.

TIPS -

1. Right click on the log-in page for each program and save a shortcut link to your desktop, or, Add to your Favourites in a new folder, named Daily, for instance. Much easier to remember your daily earning sites by double clicking on the icons or links.

2. Write the address and log-in details for each site in the back of your diary. It is easy to forget your user name and password and you can continue to earn money on another pc when away from home.

3. Get into the habit of regular visits. Most sites will cancel your account if you don't make use of it and any money earned will be lost.

4. Contact me if you need help or advice.

Fourth, make a web site of your own and get advertisers on it.

The final group of earning programs can be placed on your own web site.
First you need a website with content interesting enough to attract visitors.
Think of a subject that you know a lot about - you, your family, your job, your hobby - whatever it is, focus on it and provide detailed information; facts, figures. Try to make your web site the definitive source of information on your chosen subject. A good tutorial on making a web site from start to finish is at HillofCash.com.

With a web site designed you need a domain name and a hosting service. It is like an address to the house where your web site lives. I use Easily to buy my domain names with HawkHost and Cirtex to host them. Both companies give excellent service and support though Hawkhost is my first choice at the moment.

Promote your website using the points earned from working the PTS, PTR and PTC you joined above in section three and to get referrals to sign up under you. See a study on Promotion.

Once you have a web site with solid content you have a 'product' to sell. Many of the top programs will not accept you as an affiliate unless you have a web site of substance.

The star payer is Google AdSense. They pay for clicks and pay very well and cleverly match their ads to the content of your page. Minimum payout is $100 by cheque.


Chitika also pay you for clicks on their targeted ads on your web site but have a minimum payout of only $10 to Paypal. At the moment, only clicks from US and Canada visitors count for payment but more countries are to be added later.

A good affiliate scheme is TradeDoubler . where you can join up for free to any of dozens of schemes under one 'roof' . All affiliate schemes have a minimum payout limit of around $50 so grouping schemes together as with TradeDoubler . [aimed at European web sites] and Commission Junction [aimed at North America but covering the world] means that you can get a cheque earlier.

Lots of companies would love you to join them as an affiliate and will pay you a commission when your visitors buy some of their products. It makes sense to join up with companies compatible with your site. Amazon sell a lot more than just books now and pay 5% to 7.5% commission by targeting specific goods with a link from your site.

Bravenet has a lot of free goodies to add to your web site to attract more visitors and can help in setting up and hosting a web site with a free domain name. They also offer 50mb of free space on their servers to store your password protected back-up files and sensitive data. A well respected site of long standing..

Banner advertisements, love 'em or hate 'em, are part of the Net. Place these standard sized banners from AdBrite on your page and earn up to $1/1000 impressions depending on validity of visitor. Note that these are impressions or CPM rates, your visitor just has to see them, they do not have to click on the ads or buy anything. That is why the rates are lower than ' pay per click ' banners. AdBrite pay out monthly by cheque for earnings over $50 and pay me regularly.

Pop-under windows are better selling tools than banners and PopupTraffic.com will pay you up to $1.80/1000 impressions. This is the best you will get on the net and they pay monthly without fail. Popup killer browsers have changed the market so they only supply pop-unders but with anti-killer code that works with the major browsers. A busy site will still earn more than the $25 minimum for a cheque to be sent each month. They are now open to international affilliates and pop-under earnings.

Remember, these are all free to join; you have no outgoings other than your normal internet connection which you have anyway. To be perfectly frank, the only downside to these deals is that it takes up your time to organise the links, and your browser and/or web site will run a bit slower while advertising banners load.

The Internet is fast changing - please let us know if a good deal comes along or if you find a crooked deal; contact simetric.co.uk and we will check it out and give it an unbiased opinion.

How to Make Money on China Import and Export Fair

China Trade Show Guide

After attending China Import and Export Fair (Canton Fair), what impresses Marissa—the marketing manager of BPOVIA most is the high price for everything–ranging from hotel, airline ticket to trade booth. What’s more, there are less clients and businesses than previous years. It seems quite difficult to earn money on this year’s fair. However, there are still other ways for extra gains. Guess who are the winners?

1. The porter

Because cars are forbidden in the exhibition hall, Marissa said, all the samples of products have to be carried by manpower. Thus, the porters take good advantage of this opportunity. At the beginning, one porter charged 100 yuan for about 200 meters. As the exhibition goes on, the fee goes on higher too. One porter who works 20 times a day and charges 150 yuan for one time, can earn at least 3000 yuan. That’s very catchy!

2. People selling stationery on the fair

A number of stuffs are needed on a fair, including business card, pen, notebook, stapler, calculator, scotch tape and so on. But it’s not easy to remember all the stuffs. Once, Marissa bought one pen for emergency on the fair, and that cost her 20 yuan. The price is often 10 times higher: 40 yuan for a notebook, 50 yuan for a stapler and 20 yuan for a scotch tape. “You can do nothing but pay the money, though you know the seller can gain a rather high profit from it.” Marissa said, “Anyway, you don’t want to lose a deal because of the lack of a pen.”

A easy way to make money from China

By Merryn Somerset Webb

Merryn Somerset-Webb


A few years ago I wrote in this column that one of the best reasons to buy into Japan was because it was “the China play.” China’s new manufacturing plants needed both basic materials and sophisticated machinery, so ship loads of steel, machinery and electronics were pouring out of Japan and into China.

At the same time Japan’s consumer goods companies weren’t being slow about taking advantage of the rising incomes of the new Chinese middle class: skin creams, soaps, mobile phones and Honda motorbikes were all headed for the mainland too. In total some 40% of good exported from Japan were ending up in China.

None of this has changed (the Japanese and Chinese economies remain just as entwined) but something else has. Japan’s domestic economy has recovered so substantially (wages and property prices are on the up, consumer confidence is at its highest for 15 years and deflation appears to have come to an end) that buying into Japanese equities is no longer about investing in Chinese growth but about investing in Japanese growth at home.

The other obvious China play over the last two years has been commodities – buying oil and metals has been a fantastic way to gain exposure to China’s fast growing infrastructure and manufacturing industries. But this too is not as good a play on China as it was a few years ago: the commodity markets have risen a long way very fast – metals prices are up 100% odd in the last three years. While I think this is all part of a long term super cycle that we should be invested in, it does mean that prices are currently extremely volatile and that the markets are not for the nervous.

Yet while these two obvious China plays are not quite as good as they once were, the Chinese economy is still looking just as good – if not better – as it was two or three years ago. China is growing at not far off 10% a year, its trade surplus with the rest of the world is over £50bn and its population is showing little sign of slowing down – either when it comes to working or consuming.

So where do we now invest to take advantage of this? It would be wonderful to be able to point to the Chinese market itself but I’m afraid that I can’t. The Chinese authorities may wish it wasn’t so, but there is no getting away from the fact that their stock markets are a bit of a mess.

Thanks to a trying lack of transparency, a huge overhang of government owned stock, and a confusing system of several different classes of shares, Chinese shares have fallen well over 40% in the last five years. They have picked up a little this year amid a government propaganda drive (we are told, for example, that the overhang is to be sold down) but the basic problems remain exactly as they were.

The result? Chinese-listed shares are not so much a play on the massive growth in the Chinese economy but on as on the possibility that its operations may be reformed, something I’d rather not bet on for now.

However there is a market just a short distance from mainland China that I think might be worth betting on as a China play: Taiwan. The Taiwanese market has not been much of a performer recently (it has risen only 9% in the last year, significantly less than most Asian markets.

However much of its underperformance can be put down to one thing – political tension with China. And that may not last much longer: while is true that the Taiwanese and the mainland Chinese are famously not very friendly (there are no direct flights between the two, making what should be an hour long flit across The Taiwan Strait a marathon day-long journey via Hong Kong or Singapore), there is a growing feeling that a political solution to the sovereignty issue is in sight.

Right now Taiwan is run by the DPP which is, while moderate, very supportive of Taiwanese identity and sovereignity. However the main opposition party - the KMT – is considerably more China-friendly (in April 2005 its then leader Lien Chan actually shook hands with Chinese president Hu Jintao) and is widely expected to win Taiwan’s next election in 2008.

If it does, there is every expectation that the sovereignity issue between China and Taiwan will be either defused or indefinitely delayed without much in the way of friction. Analysts at Asia specialist broker CLSA say that this would mean the two countries would quickly make “significant material progress on permanent direct links”.

In turn this would hugely accelerate the rise of trade links between the two and precipitate “a major bull market in Taiwan”, similar perhaps to that that got underway post-1984 in Hong Kong. CLSA’s Christopher Wood points out that the population shares a common language with China and is separated from the mainland in parts by water only 100 miles wide. He believes it could soon be “ the world’s next big China play.”

The other piece of good news here is that Taiwan is still a relatively cheap China play. The 72 stocks followed by CLSA have an average p/e of around 12 times despite the fact that corporate earnings are forecast by Citibank to rise over 20% this year and the market as a whole yields over 3.5%.

There are numerous individual stocks listed in Taiwan that will give you good exposure to China but probably the best way in for UK investors is via an exchange traded fund such as the recently launched MSCI Taiwan iShare. This can be bought through your stockbroker just like any other share but will track the progress of the Taiwanese market as a whole. I think it’s one for this year's ISA.


How to Make Money with YouTube

by Chris Jacobson

This isn’t a new method at all, but I’ve only found time recently to try it out myself. YouTube.com is the #2 website on the entire internet, recently passing Google as far as traffic goes. This is a great opportunity for you to make some money quickly and easily.

Here’s a quick guide on how to leverage the power of YouTube to cash in.

Download a popular music video or viral video with YouTube Catcher (FREE) and save it in FLV format.

Convert FLV video to MPEG using SUPER software (FREE).

Add watermarks to your videos with your website address on it promoting your affiliate offer using VirtualdubMOD (FREE). Read this tutorial on how to watermark your videos using this software.

Cash the checks and repeat!

Here’s a run down of how I personally do this in proper order (to make it easy and understandable for you)…

Download YouTube video and save it in FLV format

Convert FLV to MPEG (using SUPER)

Create watermark bitmap image in Photoshop (read the tutorial mentioned above)

Import MPEG to VirtualDubMOD, add BMP image to video

Export and save video as an AVI

Convert AVI to MPEG in SUPER

The watermark image should simply be text promoting your affiliate offer. I’ve had the most success promoting PPL (pay-per-lead) offers, such as ringtones, or e-mail submits. Make sure you hide your affiliate URL using a redirection service, such as TinyURL.com. It will make it easier for your viewers to remember the URL as well. If you don’t already belong to an affiliate network, check out my Money Making guide.

Upload the video to YouTube with a descriptive title of the video. In the description field, enter the URL you just created and some text describing your offer. Example: “Get a FREE Ringtone of this music video!”

It’s important to always follow the terms and conditions of each affiliate offer you’re promoting. Some offers restrict you from using the words, “free”, “best”, “guaranteed” etc. when promoting them. Check to make sure you aren’t violating any of these terms. It’s also best to use YouTube videos that are royalty free. Ignoring these rules and uploading a copyrighted video may get your video removed from YouTube and your account deleted. Your affiliate network account may also be terminated if a viewer reports you for promoting an offer in conjunction with a copyright violation. Play by the rules and you won’t have any problems. Your cash flow also won’t be cut off.

Russian Gas: Pipelines, Politics and Money



11 November 2009

Russia's Prime Minister Vladimir Putin
Russia's Prime Minister Vladimir Putin
Russian Prime Minister Vladimir Putin has warned Ukraine he will cut off the country's gas supplies if it siphons fuel from export lines. Mr. Putin made the statement in Moscow following a meeting with Austrian Chancellor Werner Faymann. His warning carries an implicit threat that Europeans this winter could again face shortages of gas they receive from Russia via pipelines that go through Ukraine.

Russian Prime Minister Vladimir Putin has been discussing energy with European leaders much of this past year. He met with the prime minister of Hungary in May to speed construction of the new South Stream gas pipeline from Russia to Europe, a pipeline that will not transit Ukraine.

In October, Mr. Putin discussed the project with his Italian counterpart. Following talks on November 2 with the Danish head of government, Mr. Putin issued a sharp warning that Europe should help pay for deliveries of Russian gas to Ukraine.

The Prime Minister says Russia has already paid Ukraine $2.5-billion for transit and urges Europeans to throw in, as he puts it, "a lousy billion". Mr. Putin bluntly comments, "Why have they become so stingy down there? They have money, too. Let them get something out of their pockets."

Russia's Primer Minister Vladimir Purin(r) and his Ukrainian counterpart Yulia Tymoshenko
Russia's Primer Minister Vladimir Purin(r) and his Ukrainian counterpart Yulia Tymoshenko
Ukrainian Prime Minister Yulia Tymoshenko says her country paid Russia $500 million for October's gas bill. She also alleges President Viktor Yushchenko blocked payments usually made through the Ukrainian National Bank. Mr. Yushchenko, in turn, has criticized Ms. Tymoshenko for negotiating a gas contract that favors Russia. Both are candidates in a January presidential election.

Russian National Energy Security Fund Director Konstantin Simonov agrees with both accusations. He says Ms. Tymoshenko obligated Ukraine to pay for gas it does not use. And Simonov says the Ukrainian president has his eye on the upcoming election.

The analyst says President Yushchenko and those close to him are concerned, above all, with their own re-election. Simonov says for them it is clear their only chance to stay in power is to organize a major disruption, and in that regard, a gas war with Russia is an ideal scenario.

Estonia's Defense Minister Jaak Aviksoo
Estonia's Defense Minister Jaak Aviksoo
Meanwhile, Finland and Sweden in early November approved construction of the Nord Stream pipeline in their waters. Nord Stream would also circumvent Ukraine, delivering Russian gas to Northern Europe under the Baltic Sea. But Estonian Defense Minister Jaak Aviksoo accuses Moscow of playing politics.

"The decision to have the Nord Stream as well as South Stream bypassing a number of central Eastern European countries is clearly a political decision," said Jaak Aviksoo. "And unfortunately these countries not being consulted feel themselves somehow out in the cold."

European countries are also considering construction of yet another pipeline, Nabucco, which is backed by the United States and would circumvent Russia with supplies of Asian or Middle Eastern gas.

Harvard University's Marshall Goldman told VOA that Moscow is seeking to prevent such pipeline competition by playing European countries against one another.

"We will make a special deal with you, we will give you a discounted price, sign up with us and you will be protected," said Marshall Goldman. "We will not cut you off.' And this kind of leads to disruption in any kind of united front that might otherwise stand off against the Russians."

Konstantin Simonov
Konstantin Simonov
Konstantin Simonov warns that Europe cannot replace the huge volumes pumped by Russia with Nabucco's relatively small annual capacity of 31 billion cubic meters. He also questions the reliability of Nabucco's potential suppliers.

Simonov says he wants to ask Nabucco backers if they have been in Turkmenistan. Have they been in Iran or Egypt? Do they not have any reservations that those countries are much more capable of politicizing the energy dialogue [than Russia]? Simonov says he does not think his country is using gas as a political weapon, but has, instead, a different problem - it wants to make lots of money.

Simonov cautions that Russia should not be allowed to corner the market on Central Asian gas, which already flows through Russian and Ukrainian pipelines to Europe.

Make Money at Home with ADVpoints


I earn almost $250 a month with this site. It’s a very good CPM program, especially for beginners who want to make money online and at home. Just place the code on you web page and you get cash for every visitor. Not much work involved.

The Dvpoints Features
- Accept International Members
- A Three Levels System for Members with Different CPM
- Earn Up To $2.50 Per 1000 Valid Impression
- MIN $1 Payouts Will Be Made on the Weekend every Two Weeks !
- Payouts through Paypal or LibertyReserve !
- We empty Traffic Data every Monday, Wednesday, Friday

* What It Count
- Any Type of Traffic from United States, Canada, West Europe
- Load Our Advertising Fully
- Count Per IP Every 24 Hours
- Javascript-enabled Browsers


* Our CPM rates
- Invisible/Banner Advertising
- Tier1 CPM = $2.00 (N Lev.) | 2.20 (S Lev.) | 2.50 (G Lev.)
- Tier2 CPM = $0.40 (N Lev.) | 0.42 (S Lev.) | 0.45 (G Lev.)

* Referral Levels Of Commission and Joining Bonus
- Level 1 - 5%
- Joining Bonus - $0.00

Frequently Asked Questions
What PTP and CPM mean in this industry?
PTP means Paid To Promote and CPM means Cost Per Impression.

How to make money with advpoints.com?
Put our PTP or CPM codes on your website and when visitors view the pages which contain our codes you get money!

Is it free to join advpoints.com?
Yes, It is totally free.

Is this program available worldwide?
Yes, Members from all countries are welcome.

Are all kinds of traffic acceptable by advpoints.com?
Yes, We accept Pr0n and other kinds of traffic also.

Are traffic from all countries acceptable by advpoints.com?
No, We only accept traffic from countries below:
Australia,Austria,Belgium,Canada,Denmark,Finland,France,Germany,Greece,Iceland,Italy,Netherlands,New Zealand,Norway,Portugal,Spain,Sweden,Switzerland,United Kingdom and United States.

What Tier1 and Tier2 traffic mean?
Tier1 is traffic from Canada, United Kingdom, United States.
Tier2 is traffic from Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Italy, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland.

Am I allowed to have more than one account?
We allow one account per individual. Creating multiple account can cause in your account termination.
 
What are the ways to earn money?
You'll get paid for PTP or CPM. Also you can earn from 1 referral level.
When can I request payment?
You can request payment when you reach your minimum payout.
How much do I earn by referring others?
Members earn percents of their direct referrals earnings: Level 1: 10%
What is my referral link?
You can found your referral link in Promote Tools page.
What if I have questions not mentioned on this FAQ page?
Feel free to contact us anytime at support#advpoints.com