• ‘Too big to fail’ was bad enough for the banks. Now we have ‘too many to fail.’
    Last Updated: Feb. 13, 2024 at 1:20 p.m. ET

    People line up outside of the shuttered Silicon Valley Bank headquarters on March 10, 2023, in Santa Clara, Calif.
    Getty Images
    Almost a year after the mini banking crisis in the United States, it is worth revisiting the episode. Was it just a tempest in a teacup? Was there really a systemic threat, or was it just a problem with a few banks? Should the interventions by the U.S. Federal Reserve and Treasury worry or comfort us?

    Recall that three mid-size U.S. banks suddenly failed around March 2023. The most prominent was Silicon Valley Bank, which became the second-largest bank failure in U.S. history, after Washington Mutual in 2008. Roughly 90% of the deposits at SVB were uninsured, and uninsured deposits are prone to runs. Making matters worse, SVB had invested significant sums in long-term bonds, the market value of which fell as interest rates rose. When SVB sold some of these holdings to raise funds, the unrealized losses embedded in its bond portfolio started coming to light. A failed equity offering then triggered a classic bank run.

    It is convenient to think that these issues were confined to just a few rogue banks. But the problem was systemic.

    When the Fed engages in quantitative easing (QE), it buys bonds from financial institutions. Typically, those sellers then deposit the money in their bank, and this results in a large increase in uninsured deposits in the banking system. On the banks’ asset side, there is a corresponding increase in central-bank reserves. This is stable, since reserves are the most liquid asset on the planet and can be used to satisfy any impatient depositors who come for their money. Unfortunately, a number of smaller banks (with less than $50 billion in assets) moved away from this stable position as QE continued.

    Historically, smaller U.S. banks financed themselves conservatively, with uninsured demandable deposits accounting for only around 10% of their liabilities. Yet by the time the Fed was done with its pandemic-era QE, these banks’ uninsured demandable deposits exceeded 30% of liabilities. Though that level was still far below SVB’s, these institutions clearly had drunk from the same firehose.

    Smaller banks were also more conservative about liquidity in the past. At the outset of QE in late 2008, banks with less than $50 billion in assets had reserves (and other assets that could be used to borrow reserves) that exceeded the uninsured demandable deposits they had issued. By early 2023, however, they had issued runnable claims (in aggregate) that were one and a half times the size of their liquid assets. Instead of holding liquid reserves, their assets were now more weighted toward long-term securities and term lending, including a significant share of commercial real-estate (CRE) loans.

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    Thus, as the Fed raised interest rates, the economic value of these banks’ assets fell sharply. Some of the fall was hidden by accounting sleight of hand, but SVB’s sudden demise caused investors to scrutinize banks’ balance sheets more carefully. What they saw did not instill confidence. The KBW Nasdaq Bank Index duly fell by over 25%, and deposits started flowing out of a large number of banks, many of which lacked the liquidity to accommodate the sudden outflows. The risk of contagious runs across smaller banks was real, as was the possibly of the problem spreading more widely.

    The Treasury essentially took bank runs off the table, while the Fed provided banks the funds to accommodate the continuing — though no longer panicked — depositor outflows.

    Importantly, as private money flowed to large banks, very little flowed to small- and medium-size institutions. That is why the authorities had to come to the rescue. Soon after SVB’s demise, the Treasury signaled that no uninsured depositor in small banks would suffer losses in any further bank collapses.

    The Fed opened a generous new facility that lent money for up to one year to banks against the par, or face value, of the securities they held on their balance sheets, without adjusting for the erosion in the value of these securities from higher interest rates. And the Federal Home Loan Banks (FHLBanks) — effectively an arm of the U.S. government — increased its lending to stressed banks, with total advances to the banking system having already tripled between March 2022 and March 2023 amid the Fed’s policy tightening. Borrowing by small- and medium-size banks from these official sources skyrocketed.

    The Treasury essentially took bank runs off the table, while the Fed provided banks the funds to accommodate the continuing — though no longer panicked — depositor outflows. A potential banking crisis was converted into a slow-burning problem for banks as they recognized and absorbed the losses on their balance sheets.

    Just recently, New York Community Bancorp NYCB, -5.17%, which bought parts of one of the banks that failed in 2023, reminded us that this process is still underway when it announced large losses. With the Russell microcap index of small companies significantly underperforming the S&P 100 index OEX of the largest companies since March 2023, it appears that smaller banks’ troubles have weighed on their traditional clients: small- and medium-size companies.

    Where does that leave us? Although the situation could have been much worse if the Treasury and the Fed had not stepped in, the seeming ease with which the panic was arrested allowed public attention to move on. Apart from die-hard libertarians, no one seems to care much about the extent of the intervention that was needed to rescue the smaller banks, nor has there been any broad inquiry into the circumstances that led to the vulnerabilities.

    As a result, several questions remain unanswered. To what extent were the seeds of the 2023 banking stress sown by the pandemic-induced monetary stimulus and lax supervision of what banks did with the money? Did advances by the FHLBanks delay failed banks’ efforts to raise capital? Are banks that relied on official backstops after SVB’s failure keeping afloat distressed CRE borrowers, and therefore merely postponing an eventual reckoning?

    It is not good for capitalism when those who knowingly take risks — bankers and uninsured depositors, in this case — pay no price when a risk materializes. Despite sweeping banking reforms over the past 15 years, the authorities have once again shown that they are willing to bail out market players if enough of them have taken the same risk.

    “Too big to fail” was bad enough, but now we have “too many to fail.” The mini-crisis of March 2023 was much more than a footnote in banking history. We cannot afford to bury it.

    Raghuram G. Rajan, a former governor of the Reserve Bank of India, is professor of finance at the University of Chicago Booth School of Business and the author, most recently, of Monetary Policy and Its Unintended Consequences (The MIT Press, 2023). Viral V. Acharya, a former deputy governor of the Reserve Bank of India, is professor of economics at New York University’s Stern School of Business.

    This commentary was published with the permission of Project Syndicate — The Danger of Forgetting the 2023 Banking Crisis.

    More: Regional-bank bondholders seem unworried by New York Community Bank’s problems

    Also read: Recession in 2024? A quarter of economists think it will happen.


    😎🇺🇸🦅 PAR-TY… 🎉. https://www.marketwatch.com/story/too-big-to-fail-was-bad-enough-for-the-banks-now-we-have-too-many-to-fail-d89dcdda
    ‘Too big to fail’ was bad enough for the banks. Now we have ‘too many to fail.’ Last Updated: Feb. 13, 2024 at 1:20 p.m. ET People line up outside of the shuttered Silicon Valley Bank headquarters on March 10, 2023, in Santa Clara, Calif. Getty Images Almost a year after the mini banking crisis in the United States, it is worth revisiting the episode. Was it just a tempest in a teacup? Was there really a systemic threat, or was it just a problem with a few banks? Should the interventions by the U.S. Federal Reserve and Treasury worry or comfort us? Recall that three mid-size U.S. banks suddenly failed around March 2023. The most prominent was Silicon Valley Bank, which became the second-largest bank failure in U.S. history, after Washington Mutual in 2008. Roughly 90% of the deposits at SVB were uninsured, and uninsured deposits are prone to runs. Making matters worse, SVB had invested significant sums in long-term bonds, the market value of which fell as interest rates rose. When SVB sold some of these holdings to raise funds, the unrealized losses embedded in its bond portfolio started coming to light. A failed equity offering then triggered a classic bank run. It is convenient to think that these issues were confined to just a few rogue banks. But the problem was systemic. When the Fed engages in quantitative easing (QE), it buys bonds from financial institutions. Typically, those sellers then deposit the money in their bank, and this results in a large increase in uninsured deposits in the banking system. On the banks’ asset side, there is a corresponding increase in central-bank reserves. This is stable, since reserves are the most liquid asset on the planet and can be used to satisfy any impatient depositors who come for their money. Unfortunately, a number of smaller banks (with less than $50 billion in assets) moved away from this stable position as QE continued. Historically, smaller U.S. banks financed themselves conservatively, with uninsured demandable deposits accounting for only around 10% of their liabilities. Yet by the time the Fed was done with its pandemic-era QE, these banks’ uninsured demandable deposits exceeded 30% of liabilities. Though that level was still far below SVB’s, these institutions clearly had drunk from the same firehose. Smaller banks were also more conservative about liquidity in the past. At the outset of QE in late 2008, banks with less than $50 billion in assets had reserves (and other assets that could be used to borrow reserves) that exceeded the uninsured demandable deposits they had issued. By early 2023, however, they had issued runnable claims (in aggregate) that were one and a half times the size of their liquid assets. Instead of holding liquid reserves, their assets were now more weighted toward long-term securities and term lending, including a significant share of commercial real-estate (CRE) loans. Advertisement Thus, as the Fed raised interest rates, the economic value of these banks’ assets fell sharply. Some of the fall was hidden by accounting sleight of hand, but SVB’s sudden demise caused investors to scrutinize banks’ balance sheets more carefully. What they saw did not instill confidence. The KBW Nasdaq Bank Index duly fell by over 25%, and deposits started flowing out of a large number of banks, many of which lacked the liquidity to accommodate the sudden outflows. The risk of contagious runs across smaller banks was real, as was the possibly of the problem spreading more widely. The Treasury essentially took bank runs off the table, while the Fed provided banks the funds to accommodate the continuing — though no longer panicked — depositor outflows. Importantly, as private money flowed to large banks, very little flowed to small- and medium-size institutions. That is why the authorities had to come to the rescue. Soon after SVB’s demise, the Treasury signaled that no uninsured depositor in small banks would suffer losses in any further bank collapses. The Fed opened a generous new facility that lent money for up to one year to banks against the par, or face value, of the securities they held on their balance sheets, without adjusting for the erosion in the value of these securities from higher interest rates. And the Federal Home Loan Banks (FHLBanks) — effectively an arm of the U.S. government — increased its lending to stressed banks, with total advances to the banking system having already tripled between March 2022 and March 2023 amid the Fed’s policy tightening. Borrowing by small- and medium-size banks from these official sources skyrocketed. The Treasury essentially took bank runs off the table, while the Fed provided banks the funds to accommodate the continuing — though no longer panicked — depositor outflows. A potential banking crisis was converted into a slow-burning problem for banks as they recognized and absorbed the losses on their balance sheets. Just recently, New York Community Bancorp NYCB, -5.17%, which bought parts of one of the banks that failed in 2023, reminded us that this process is still underway when it announced large losses. With the Russell microcap index of small companies significantly underperforming the S&P 100 index OEX of the largest companies since March 2023, it appears that smaller banks’ troubles have weighed on their traditional clients: small- and medium-size companies. Where does that leave us? Although the situation could have been much worse if the Treasury and the Fed had not stepped in, the seeming ease with which the panic was arrested allowed public attention to move on. Apart from die-hard libertarians, no one seems to care much about the extent of the intervention that was needed to rescue the smaller banks, nor has there been any broad inquiry into the circumstances that led to the vulnerabilities. As a result, several questions remain unanswered. To what extent were the seeds of the 2023 banking stress sown by the pandemic-induced monetary stimulus and lax supervision of what banks did with the money? Did advances by the FHLBanks delay failed banks’ efforts to raise capital? Are banks that relied on official backstops after SVB’s failure keeping afloat distressed CRE borrowers, and therefore merely postponing an eventual reckoning? It is not good for capitalism when those who knowingly take risks — bankers and uninsured depositors, in this case — pay no price when a risk materializes. Despite sweeping banking reforms over the past 15 years, the authorities have once again shown that they are willing to bail out market players if enough of them have taken the same risk. “Too big to fail” was bad enough, but now we have “too many to fail.” The mini-crisis of March 2023 was much more than a footnote in banking history. We cannot afford to bury it. Raghuram G. Rajan, a former governor of the Reserve Bank of India, is professor of finance at the University of Chicago Booth School of Business and the author, most recently, of Monetary Policy and Its Unintended Consequences (The MIT Press, 2023). Viral V. Acharya, a former deputy governor of the Reserve Bank of India, is professor of economics at New York University’s Stern School of Business. This commentary was published with the permission of Project Syndicate — The Danger of Forgetting the 2023 Banking Crisis. More: Regional-bank bondholders seem unworried by New York Community Bank’s problems Also read: Recession in 2024? A quarter of economists think it will happen. 😎🇺🇸🦅 PAR-TY… 🎉. https://www.marketwatch.com/story/too-big-to-fail-was-bad-enough-for-the-banks-now-we-have-too-many-to-fail-d89dcdda
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    ‘Too big to fail’ was bad enough for the banks. Now we have ‘too many to fail.’
    The failures may have been confined to just a few rogue banks, but the problem is systemic.
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  • ☆Tadabbur Kalamullah 17 Rejab 1445H☆

    قُلۡ هَلۡ یَسۡتَوِی ٱلَّذِینَ یَعۡلَمُونَ وَٱلَّذِینَ لَا یَعۡلَمُونَۗ إِنَّمَا یَتَذَكَّرُ أُو۟لُوا۟ ٱلۡأَلۡبَـٰبِ

    "Katakanlah lagi (kepadanya): "Adakah sama orang-orang yang mengetahui dengan orang-orang yang tidak mengetahui?" Sesungguhnya orang-orang yang dapat mengambil pelajaran dan peringatan hanyalah orang-orang yang berakal sempurna" [Surah az-Zumar 9]

    #Bicara berkaitan kemuliaan dan penghormatan terhadap para ulamak disambung lagi.

    #Di alam kesultanan Melayu Nusantara, sebahagian besar ulamak telah berperanan sebagai penasihat istana sehingga beberapa perkara seperti penyebaran dakwah, pengajian ilmu Islam, pelaksanaan pentadbiran Islam dan penguatkuasan Syariat dapat dibuat sehingga Daulah yang dibina berdiri kukuh. Ini sebagaimana peranan Syed Hussein Jamadil Kubra di Kelantan, Sunan Giri dan Sunan Gunung Jati di Demak, Sheikh Mansor di Tidore dan Sheikh Nuruddin ar-Raniry di Aceh, begitulah berperanan mempengaruhi Raja terhadap pemupukan kehidupan beragama.

    #Lebih daripada itu, dimuliakan kedudukan para ulamak dengan melantik mereka sebagai pemerintah. Pelantikan para ulamak seperti Tengku Mohammad sebagai Sultan Perlak, Sultan Syarif Ali sebagai Sultan Brunei, Syarif Kebungsuwan sebagai Sultan Mindanao, anak-cucu Syed Jaafar as-Sadiq sebagai Sultan-sultan di Tidore, Bachan, Ternate dan Jailolo serta Sunan Fatahillah sebagai Sultan Demak, adalah contoh pembentukan Daulah Islam dengan para ulamak menjadi Raja dan Sultan.

    #Inilah kehebatan pemimpin dahulu dalam menghormati ulamak dan kehebatan ulamak yang dinobatkan sebagai pemimpin.

    #Ketahuilah bahawa ulamak adalah pewaris tugas dan peranan sekalian nabi dan rasul dalam menyampaikan amanah Islam kepada seluruh umat manusia. Di tangan ulamaklah penentu kepada maju mundurnya sesebuah negara, terang gelapnya sesebuah bangsa, baik buruknya sesuatu umat di bumi ini.

    #Jika ulamak berperanan sebagaimana berperanannya para nabi dan rasul, akan baiklah pemimpin dan umat berkenaan. Sebaliknya, jika ulamak itu tidak berfungsi dan berperanan jelik, nescaya akan buruk dan binasalah pemimpin dan umat berkenaan.

    ♡Setiap pemimpin dan rakyat hendaklah merujuk terlebih dahulu kepada ulamak dalam sebarang persoalan hidup, samada persoalan duniawi mahupun ukhrawi. Jadikanlah ulamak sebagai obor yang menerangi seluruh kehidupan kita♡

    🐊Ust naim
    Klik link ini untuk    
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    ☆Tadabbur Kalamullah 17 Rejab 1445H☆ قُلۡ هَلۡ یَسۡتَوِی ٱلَّذِینَ یَعۡلَمُونَ وَٱلَّذِینَ لَا یَعۡلَمُونَۗ إِنَّمَا یَتَذَكَّرُ أُو۟لُوا۟ ٱلۡأَلۡبَـٰبِ "Katakanlah lagi (kepadanya): "Adakah sama orang-orang yang mengetahui dengan orang-orang yang tidak mengetahui?" Sesungguhnya orang-orang yang dapat mengambil pelajaran dan peringatan hanyalah orang-orang yang berakal sempurna" [Surah az-Zumar 9] #Bicara berkaitan kemuliaan dan penghormatan terhadap para ulamak disambung lagi. #Di alam kesultanan Melayu Nusantara, sebahagian besar ulamak telah berperanan sebagai penasihat istana sehingga beberapa perkara seperti penyebaran dakwah, pengajian ilmu Islam, pelaksanaan pentadbiran Islam dan penguatkuasan Syariat dapat dibuat sehingga Daulah yang dibina berdiri kukuh. Ini sebagaimana peranan Syed Hussein Jamadil Kubra di Kelantan, Sunan Giri dan Sunan Gunung Jati di Demak, Sheikh Mansor di Tidore dan Sheikh Nuruddin ar-Raniry di Aceh, begitulah berperanan mempengaruhi Raja terhadap pemupukan kehidupan beragama. #Lebih daripada itu, dimuliakan kedudukan para ulamak dengan melantik mereka sebagai pemerintah. Pelantikan para ulamak seperti Tengku Mohammad sebagai Sultan Perlak, Sultan Syarif Ali sebagai Sultan Brunei, Syarif Kebungsuwan sebagai Sultan Mindanao, anak-cucu Syed Jaafar as-Sadiq sebagai Sultan-sultan di Tidore, Bachan, Ternate dan Jailolo serta Sunan Fatahillah sebagai Sultan Demak, adalah contoh pembentukan Daulah Islam dengan para ulamak menjadi Raja dan Sultan. #Inilah kehebatan pemimpin dahulu dalam menghormati ulamak dan kehebatan ulamak yang dinobatkan sebagai pemimpin. #Ketahuilah bahawa ulamak adalah pewaris tugas dan peranan sekalian nabi dan rasul dalam menyampaikan amanah Islam kepada seluruh umat manusia. Di tangan ulamaklah penentu kepada maju mundurnya sesebuah negara, terang gelapnya sesebuah bangsa, baik buruknya sesuatu umat di bumi ini. #Jika ulamak berperanan sebagaimana berperanannya para nabi dan rasul, akan baiklah pemimpin dan umat berkenaan. Sebaliknya, jika ulamak itu tidak berfungsi dan berperanan jelik, nescaya akan buruk dan binasalah pemimpin dan umat berkenaan. ♡Setiap pemimpin dan rakyat hendaklah merujuk terlebih dahulu kepada ulamak dalam sebarang persoalan hidup, samada persoalan duniawi mahupun ukhrawi. Jadikanlah ulamak sebagai obor yang menerangi seluruh kehidupan kita♡ 🐊Ust naim Klik link ini untuk     http://bit.ly/tadabburkalamullah Facebook:    https://m.facebook.com/tadabburkalamullah
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    Oleh Ustaz Muhamad Naim Haji Hashim
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  • ☆Tadabbur Kalamullah 16 Rejab 1445H☆

    قُلۡ هَلۡ یَسۡتَوِی ٱلَّذِینَ یَعۡلَمُونَ وَٱلَّذِینَ لَا یَعۡلَمُونَۗ إِنَّمَا یَتَذَكَّرُ أُو۟لُوا۟ ٱلۡأَلۡبَـٰبِ

    "Katakanlah lagi (kepadanya): "Adakah sama orang-orang yang mengetahui dengan orang-orang yang tidak mengetahui?" Sesungguhnya orang-orang yang dapat mengambil pelajaran dan peringatan hanyalah orang-orang yang berakal sempurna" [Surah Az-Zumar 9]

    #Sambungan bicara berkaitan kemuliaan dan penghormatan terhadap para ulamak.

    #Dulu, Sultan-sultan di Tanah Melayu ini sangat mengasihi, menghormati dan membesarkan para ulamak. Para ulamak dijadikan tempat rujuk sekelian Baginda Raja-raja Melayu itu. Bahkan para sultan itu sendiri pun alim-alim dan warak orangnya seperti contoh Sultan Zainal Abidin di Terengganu dan lain-lain. 

    #Antara sekian ramai sultan di dunia Melayu, terdapat beberapa orang sultan yang terlibat secara langsung dalam aktiviti Islam. Ada yang mengasihi ulamak, bahkan ada yang mempunyai pengetahuan yang luas tentang agama Islam. Ada juga yang menghasilkan karangan berupa risalah atau pun kitab. Sultan Sulaiman, Sultan Selangor Darul Ehsan dapat dikategorikan seorang sultan yang mengasihi ulamak.

    #Atas rasa kewajipan dan tanggungjawab menyebar dan mempertingkatkan pengetahuan Islam dalam Kerajaan Selangor, Sultan Sulaiman telah mendatangkan beberapa orang ulamak besar dalam kerajaan yang diperintahnya. Antara ulamak yang paling dekat dengannya ialah Tengku Mahmud Zuhdi bin Abdur Rahman al-Fathani.

    #Sultan Sulaiman sangat mesra dan kasih kepada Tengku Mahmud Zuhdi bin Abdur Rahman al-Fathani hinggalah suatu ketika baginda hendak ke luar negara (terutama ke London), ulamak yang berasal dari Patani ini ikut bersama-sama dalam rombongan baginda. 

    #Peristiwa ini mencerminkan bahawa Sultan Sulaiman berusaha sedemikian rupa menggabungkan kerjasama, kesepaduan dan keserasian antara umara dan ulamak sebagaimana yang disuruh oleh Rasulullah saw. Dalam penyebaran Islam di negeri lain selain Selangor, Sultan Sulaiman juga mempunyai rasa tanggungjawab. Sebagai buktinya, walaupun baginda kasih terhadap Tengku Muhammad bin Tengku Mahmud Zuhdi al-Fathani, namun kerana masyarakat Jambi sangat memerlukan ulamak, baginda merestui keberangkatan Tengku Muhammad dari Klang ke Jambi. 

    #Menurut Sejarah Melayu, Sultan Melaka telah diIslamkan oleh Syed Abdul Aziz, ulamak juga pendakwah di Jeddah. Kemudian keturunan Syed Abdul Aziz menggantikan beliau sebagai Qadhi Melaka beberapa generasi seperti anaknya, Qadhi Maulana Yusof dan cucunya, Qadhi Munawar Syah. Beberapa ulamak lain turut menjadi pembesar di Melaka seperti Maulana Abu Bakar dan Maulana Sadar Jahan. Pada zaman Sultan Mahmud Syah (1488-1511M), Qadhi Munawar Syah dan Maulana Sadar Jahan adalah ulamak yang paling berpengaruh di istana, bahkan pada zaman Sultan Ahmad Syah (1511M), Maulana Sadar Jahan adalah Penasihat Sultan.

    #Peranan ulamak dalam istana Melaka bukan hanya sebagai guru agama atau pakar rujuk hukum agama sahaja, tetapi turut berperanan untuk menyebarkan Islam, menguatkuasakan undang-undang Islam seperti penggubalan Hukum Kanun Melaka, sebagai pembesar bertaraf menteri dan juga penasihat yang berpengaruh ke atas Sultan Melaka.

    #Selain itu, di alam kesultanan Melayu Nusantara, sebahagian besar ulamak telah berperanan sebagai penasihat istana sehingga beberapa perkara seperti penyebaran dakwah, pengajian ilmu Islam, pelaksanaan pentadbiran Islam dan penguatkuasan Syariat dapat dibuat sehingga Daulah yang dibina berdiri kukuh.

    ... Bersambung ...

    ♡Letakkanlah peranan ulamak di kedudukan yang betul dan atas landasannya yang sebenar, insyaAllah perjalanan hidup kita semua termasuk para pemimpin akan sentiasa berada di bawah lembayung dan rahmat Allah swt♡

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    ☆Tadabbur Kalamullah 16 Rejab 1445H☆ قُلۡ هَلۡ یَسۡتَوِی ٱلَّذِینَ یَعۡلَمُونَ وَٱلَّذِینَ لَا یَعۡلَمُونَۗ إِنَّمَا یَتَذَكَّرُ أُو۟لُوا۟ ٱلۡأَلۡبَـٰبِ "Katakanlah lagi (kepadanya): "Adakah sama orang-orang yang mengetahui dengan orang-orang yang tidak mengetahui?" Sesungguhnya orang-orang yang dapat mengambil pelajaran dan peringatan hanyalah orang-orang yang berakal sempurna" [Surah Az-Zumar 9] #Sambungan bicara berkaitan kemuliaan dan penghormatan terhadap para ulamak. #Dulu, Sultan-sultan di Tanah Melayu ini sangat mengasihi, menghormati dan membesarkan para ulamak. Para ulamak dijadikan tempat rujuk sekelian Baginda Raja-raja Melayu itu. Bahkan para sultan itu sendiri pun alim-alim dan warak orangnya seperti contoh Sultan Zainal Abidin di Terengganu dan lain-lain.  #Antara sekian ramai sultan di dunia Melayu, terdapat beberapa orang sultan yang terlibat secara langsung dalam aktiviti Islam. Ada yang mengasihi ulamak, bahkan ada yang mempunyai pengetahuan yang luas tentang agama Islam. Ada juga yang menghasilkan karangan berupa risalah atau pun kitab. Sultan Sulaiman, Sultan Selangor Darul Ehsan dapat dikategorikan seorang sultan yang mengasihi ulamak. #Atas rasa kewajipan dan tanggungjawab menyebar dan mempertingkatkan pengetahuan Islam dalam Kerajaan Selangor, Sultan Sulaiman telah mendatangkan beberapa orang ulamak besar dalam kerajaan yang diperintahnya. Antara ulamak yang paling dekat dengannya ialah Tengku Mahmud Zuhdi bin Abdur Rahman al-Fathani. #Sultan Sulaiman sangat mesra dan kasih kepada Tengku Mahmud Zuhdi bin Abdur Rahman al-Fathani hinggalah suatu ketika baginda hendak ke luar negara (terutama ke London), ulamak yang berasal dari Patani ini ikut bersama-sama dalam rombongan baginda.  #Peristiwa ini mencerminkan bahawa Sultan Sulaiman berusaha sedemikian rupa menggabungkan kerjasama, kesepaduan dan keserasian antara umara dan ulamak sebagaimana yang disuruh oleh Rasulullah saw. Dalam penyebaran Islam di negeri lain selain Selangor, Sultan Sulaiman juga mempunyai rasa tanggungjawab. Sebagai buktinya, walaupun baginda kasih terhadap Tengku Muhammad bin Tengku Mahmud Zuhdi al-Fathani, namun kerana masyarakat Jambi sangat memerlukan ulamak, baginda merestui keberangkatan Tengku Muhammad dari Klang ke Jambi.  #Menurut Sejarah Melayu, Sultan Melaka telah diIslamkan oleh Syed Abdul Aziz, ulamak juga pendakwah di Jeddah. Kemudian keturunan Syed Abdul Aziz menggantikan beliau sebagai Qadhi Melaka beberapa generasi seperti anaknya, Qadhi Maulana Yusof dan cucunya, Qadhi Munawar Syah. Beberapa ulamak lain turut menjadi pembesar di Melaka seperti Maulana Abu Bakar dan Maulana Sadar Jahan. Pada zaman Sultan Mahmud Syah (1488-1511M), Qadhi Munawar Syah dan Maulana Sadar Jahan adalah ulamak yang paling berpengaruh di istana, bahkan pada zaman Sultan Ahmad Syah (1511M), Maulana Sadar Jahan adalah Penasihat Sultan. #Peranan ulamak dalam istana Melaka bukan hanya sebagai guru agama atau pakar rujuk hukum agama sahaja, tetapi turut berperanan untuk menyebarkan Islam, menguatkuasakan undang-undang Islam seperti penggubalan Hukum Kanun Melaka, sebagai pembesar bertaraf menteri dan juga penasihat yang berpengaruh ke atas Sultan Melaka. #Selain itu, di alam kesultanan Melayu Nusantara, sebahagian besar ulamak telah berperanan sebagai penasihat istana sehingga beberapa perkara seperti penyebaran dakwah, pengajian ilmu Islam, pelaksanaan pentadbiran Islam dan penguatkuasan Syariat dapat dibuat sehingga Daulah yang dibina berdiri kukuh. ... Bersambung ... ♡Letakkanlah peranan ulamak di kedudukan yang betul dan atas landasannya yang sebenar, insyaAllah perjalanan hidup kita semua termasuk para pemimpin akan sentiasa berada di bawah lembayung dan rahmat Allah swt♡ 🐊Ust naim Klik link ini untuk     http://bit.ly/tadabburkalamullah Facebook:    https://m.facebook.com/tadabburkalamullah
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    Tadabbur Kalamullah
    Oleh Ustaz Muhamad Naim Haji Hashim
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  • We Will Not Be Silenced

    "We Will Not Be Silenced is a shocking insight into the Orwellian world of online censorship witnessed up close and personal through the experiences of Brian Rose, founder and host of London Real, who had his 2 million subscriber YouTube channel deplatformed for simply broadcasting interviews that challenged the status quo.

    Banned by Silicon Valley’s biggest monopolies, Rose and his millions of supporters defiantly fight back by broadcasting a world record-breaking global livestream, demonstrating the importance of defending our most fundamental right: freedom of speech.

    Unfortunately on September 4th 2023, the London Real channel was deleted and permanently banned from YouTube, ending 12 years of free expression without recourse.

    We Will Not Be Silenced serves both as a cautionary tale and a beacon of inspiration,   DAVID ICKE ON LONDON REAL."
    https://www.santamonicafilmfestival.com/?utm_campaign=Directed+Energy+Weapons+%26+Maui+%2B+Confluence+2023+%2B+Giveaway+Upgrade&utm_content=link&utm_medium=email&utm_source=NamasteLight
    We Will Not Be Silenced "We Will Not Be Silenced is a shocking insight into the Orwellian world of online censorship witnessed up close and personal through the experiences of Brian Rose, founder and host of London Real, who had his 2 million subscriber YouTube channel deplatformed for simply broadcasting interviews that challenged the status quo. Banned by Silicon Valley’s biggest monopolies, Rose and his millions of supporters defiantly fight back by broadcasting a world record-breaking global livestream, demonstrating the importance of defending our most fundamental right: freedom of speech. Unfortunately on September 4th 2023, the London Real channel was deleted and permanently banned from YouTube, ending 12 years of free expression without recourse. We Will Not Be Silenced serves both as a cautionary tale and a beacon of inspiration,   DAVID ICKE ON LONDON REAL." https://www.santamonicafilmfestival.com/?utm_campaign=Directed+Energy+Weapons+%26+Maui+%2B+Confluence+2023+%2B+Giveaway+Upgrade&utm_content=link&utm_medium=email&utm_source=NamasteLight
    WWW.SANTAMONICAFILMFESTIVAL.COM
    Santa Monica Film Festival ®
    Santa Monica Film Festival is an annual film festival focused on emerging filmmakers and artists. The 18th Santa Monica Film Festival hosted at AMC Theatres in Santa Monica's Third Street Promenade is scheduled for Saturday February 3rd, 2024.
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  • Santa Facts and NFT.

    1. The world's largest gathering of Santa Clauses occurs annually in Copenhagen, Denmark, where thousands of people dressed as Santa participate in the Santa Claus World Congress.

    2. The idea of Santa having a workshop at the North Pole is often attributed to the 1823 poem "A Visit from St. Nicholas," which popularized many aspects of the modern Santa Claus myth.

    3. The Guinness World Record for the largest Santa Claus parade is held by Richmond, Virginia, with thousands of participants dressed as Santa.

    4. In Finland, where Santa is known as Joulupukki, a tradition called "Joulupukki TV" allows children to interact with Santa via a live television broadcast.

    5. The first department store Santa Claus appeared in 1890 at a store in Massachusetts, where James Edgar donned a Santa suit to attract shoppers.

    6. The concept of a Naughty or Nice list has been around for centuries, but its modern interpretation as a way to monitor children's behavior and determine gifts is relatively recent.

    7. In Australia, where Christmas falls during the Southern Hemisphere's summer, Santa is sometimes depicted wearing "board shorts" instead of his traditional suit.

    8. The Dutch celebrate "Sinterklaas" on December 5th, where Sinterklaas arrives by boat, accompanied by his helpers, and distributes gifts to children.

    9. The legend of Santa Claus has been adapted in various ways, including female versions like "Mrs. Claus" and different cultural iterations, such as "Grandfather Frost" in Russia.

    10. The town of North Pole in Alaska receives thousands of letters addressed to Santa Claus each year, and volunteers known as "Santa's elves" respond to as many as possible.

    Santa NFT:
    https://bit.ly/3NHZ55T

    #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter #holidays #santa #facts
    Santa Facts and NFT. 1. The world's largest gathering of Santa Clauses occurs annually in Copenhagen, Denmark, where thousands of people dressed as Santa participate in the Santa Claus World Congress. 2. The idea of Santa having a workshop at the North Pole is often attributed to the 1823 poem "A Visit from St. Nicholas," which popularized many aspects of the modern Santa Claus myth. 3. The Guinness World Record for the largest Santa Claus parade is held by Richmond, Virginia, with thousands of participants dressed as Santa. 4. In Finland, where Santa is known as Joulupukki, a tradition called "Joulupukki TV" allows children to interact with Santa via a live television broadcast. 5. The first department store Santa Claus appeared in 1890 at a store in Massachusetts, where James Edgar donned a Santa suit to attract shoppers. 6. The concept of a Naughty or Nice list has been around for centuries, but its modern interpretation as a way to monitor children's behavior and determine gifts is relatively recent. 7. In Australia, where Christmas falls during the Southern Hemisphere's summer, Santa is sometimes depicted wearing "board shorts" instead of his traditional suit. 8. The Dutch celebrate "Sinterklaas" on December 5th, where Sinterklaas arrives by boat, accompanied by his helpers, and distributes gifts to children. 9. The legend of Santa Claus has been adapted in various ways, including female versions like "Mrs. Claus" and different cultural iterations, such as "Grandfather Frost" in Russia. 10. The town of North Pole in Alaska receives thousands of letters addressed to Santa Claus each year, and volunteers known as "Santa's elves" respond to as many as possible. Santa NFT: https://bit.ly/3NHZ55T #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter #holidays #santa #facts
    BIT.LY
    NFT by Nft_craftt
    Santa NFT. #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter #holidays #santa #facts...
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  • Top 10 facts about Christmas (+ NFT).

    1. Christmas Tree Origins: The tradition of decorating Christmas trees began in Germany in the 16th century.

    2. Santa Claus' Evolution: The modern image of Santa Claus is based on the Coca-Cola Company's advertising in the 1930s.

    3. Tallest Christmas Tree: The tallest cut Christmas tree ever recorded was a 221-foot Douglas fir in 1950.

    4. Christmas Cards: The first Christmas card was created in 1843 by Sir Henry Cole in England.

    5. White Christmas Dreaming: The song "White Christmas" by Irving Berlin is the best-selling single of all time.

    6. Christmas Island: There is an actual place named Christmas Island, known for its unique red crab migration.

    7. Mince Pies' Ingredients: The original mince pie recipe did indeed include minced meat, usually beef or lamb.

    8. Yule Log: The Yule log tradition dates back to medieval times when a large log was decorated and burned in the hearth.

    9. Gift-Giving Roots: The tradition of exchanging gifts during Christmas can be traced back to the Roman festival of Saturnalia.

    10. Christmas Stockings Legend: The tradition of hanging stockings comes from the legend of St. Nicholas, who left gold in stockings for three poor sisters.

    Christmas NFT:
    https://bit.ly/3REqdUx

    #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter #holidays
    Top 10 facts about Christmas (+ NFT). 1. Christmas Tree Origins: The tradition of decorating Christmas trees began in Germany in the 16th century. 2. Santa Claus' Evolution: The modern image of Santa Claus is based on the Coca-Cola Company's advertising in the 1930s. 3. Tallest Christmas Tree: The tallest cut Christmas tree ever recorded was a 221-foot Douglas fir in 1950. 4. Christmas Cards: The first Christmas card was created in 1843 by Sir Henry Cole in England. 5. White Christmas Dreaming: The song "White Christmas" by Irving Berlin is the best-selling single of all time. 6. Christmas Island: There is an actual place named Christmas Island, known for its unique red crab migration. 7. Mince Pies' Ingredients: The original mince pie recipe did indeed include minced meat, usually beef or lamb. 8. Yule Log: The Yule log tradition dates back to medieval times when a large log was decorated and burned in the hearth. 9. Gift-Giving Roots: The tradition of exchanging gifts during Christmas can be traced back to the Roman festival of Saturnalia. 10. Christmas Stockings Legend: The tradition of hanging stockings comes from the legend of St. Nicholas, who left gold in stockings for three poor sisters. Christmas NFT: https://bit.ly/3REqdUx #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter #holidays
    BIT.LY
    NFT by Nft_craftt
    Christmas NFT. #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter #holidays...
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  • Merry Christmas and Happy New Year! Claim your NFT!

    Facts about Christmas:
    1. The tradition of putting up Christmas trees can be traced back to 16th-century Germany.
    2. The concept of Santa Claus is based on the historical figure of Saint Nicholas, a 4th-century bishop from modern-day Turkey.
    3. The world's tallest Christmas tree was a Douglas fir, measuring over 221 feet, displayed in 1950 in Seattle, USA.
    4. The song "Jingle Bells" was originally written for Thanksgiving, not Christmas.
    5. The tradition of hanging stockings by the fireplace comes from the legend of Saint Nicholas, who is said to have left gold in the stockings of three poor sisters.
    6. The concept of sending Christmas cards became popular in the 1840s, thanks to Sir Henry Cole in England.
    7. Rudolph the Red-Nosed Reindeer was created by Montgomery Ward in 1939 for a promotional Christmas story booklet.
    8. In Iceland, there is a tradition of exchanging books on Christmas Eve and spending the night reading—known as "Jólabókaflóð" or "Christmas Book Flood."
    9. The world's largest snowman was built in 2008 in Bethel, Maine, standing at 122 feet tall.
    10. The word "Christmas" comes from the Old English phrase "Cristes Maesse," meaning the Mass of Christ.

    Claim Christmas NFT:

    https://bit.ly/3TEkYH3

    #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter
    Merry Christmas and Happy New Year! Claim your NFT! Facts about Christmas: 1. The tradition of putting up Christmas trees can be traced back to 16th-century Germany. 2. The concept of Santa Claus is based on the historical figure of Saint Nicholas, a 4th-century bishop from modern-day Turkey. 3. The world's tallest Christmas tree was a Douglas fir, measuring over 221 feet, displayed in 1950 in Seattle, USA. 4. The song "Jingle Bells" was originally written for Thanksgiving, not Christmas. 5. The tradition of hanging stockings by the fireplace comes from the legend of Saint Nicholas, who is said to have left gold in the stockings of three poor sisters. 6. The concept of sending Christmas cards became popular in the 1840s, thanks to Sir Henry Cole in England. 7. Rudolph the Red-Nosed Reindeer was created by Montgomery Ward in 1939 for a promotional Christmas story booklet. 8. In Iceland, there is a tradition of exchanging books on Christmas Eve and spending the night reading—known as "Jólabókaflóð" or "Christmas Book Flood." 9. The world's largest snowman was built in 2008 in Bethel, Maine, standing at 122 feet tall. 10. The word "Christmas" comes from the Old English phrase "Cristes Maesse," meaning the Mass of Christ. Claim Christmas NFT: https://bit.ly/3TEkYH3 #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter
    BIT.LY
    NFT by Nft_craftt
    Merry Christmas and Happy New Year! Claim your NFT! #newyear #christmas #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #snow #winter...
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  • The Moon Before Yule lights the sky this Christmas Eve, and becomes a full Cold Moon on Christmas night, crossing in a high arc to join Santa’s sleigh. Merry Christmas!

    “Fear not, for behold, I bring you good news of great joy that will be for all the people. For unto you is born this day in the city of David a Savior, who is Christ the Lord.” (Luke 2:10-11)

    #ChristmasMoon #LongNightMoon #Moon #PrinceOfPeace #JesusChrist #Christ #MerryChristmas #Christmas2023 #Christmas
    The Moon Before Yule lights the sky this Christmas Eve, and becomes a full Cold Moon on Christmas night, crossing in a high arc to join Santa’s sleigh. Merry Christmas! “Fear not, for behold, I bring you good news of great joy that will be for all the people. For unto you is born this day in the city of David a Savior, who is Christ the Lord.” (Luke 2:10-11) #ChristmasMoon #LongNightMoon #Moon #PrinceOfPeace #JesusChrist #Christ #MerryChristmas #Christmas2023 #Christmas
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  • Santa's present NFT.

    https://diamondapp.com/nft/00b06ce450af524cc11b32a1a1d0ca3cb01c4a24535725a39396cc134cf00b1f?feedTab=Following&tab=posts

    #santa #newyear #christmas #present #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #gift
    Santa's present NFT. https://diamondapp.com/nft/00b06ce450af524cc11b32a1a1d0ca3cb01c4a24535725a39396cc134cf00b1f?feedTab=Following&tab=posts #santa #newyear #christmas #present #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #gift
    DIAMONDAPP.COM
    NFT by Nft_craftt
    Santa's present NFT. #santa #newyear #christmas #present #nfts #nft #buynft #nftcollectibles #nftcollection #nftart #nftartwork #nftartist #gift...
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  • Imam masjid Saudi di tangkap pihak keamanan Saudi karena berdo'a untuk Palestina. Laa hawla walaa quwwata illaa billaahil 'aliyyil 'adziim. Ingatlah, dahulu kala Saud asalnya saudagar bani israel setelah kaya raya mereka membangun kerajaan bisnis di jazirah Arab menetap di Mekkah sehingga membentuk Kerajaan, maka hingga saat ini keturunan mereka tidak simpati kepada Palestina🇵🇸, bahkan bani Saud yang mempropagandakan pengusiran dan pembunuhan dzuriyah Rasulullah Saw, sehingga Ahlul Bait menyelamatkan diri ke Tarim Hadramaut Yaman, Nusantara, dls. Bahkan fakta sejarah mencatat Wahabi adalah aliran Islam tandingan buatan zionis yahudi. Atas rahmat dan ridha Allāh SWT, setelah Raja tutup usia, 3 putra raja akan berperang berebut kekuasaan, dan ketiganya tidak ada yang menang, maka Haramain dikembalikan kepada kekuasaan Ahlul Bait, Dzuriyah Rasulullah Saw yang dipimpin oleh Imam Mahdi. Allāhua'lam... لا إله إلا الله محمد رسول الله 🙂🤍☝️🤲🙏🇮🇩🇵🇸🇾🇪🇹🇷🇸🇦🏳️🏴
    Imam masjid Saudi di tangkap pihak keamanan Saudi karena berdo'a untuk Palestina. Laa hawla walaa quwwata illaa billaahil 'aliyyil 'adziim. Ingatlah, dahulu kala Saud asalnya saudagar bani israel setelah kaya raya mereka membangun kerajaan bisnis di jazirah Arab menetap di Mekkah sehingga membentuk Kerajaan, maka hingga saat ini keturunan mereka tidak simpati kepada Palestina🇵🇸, bahkan bani Saud yang mempropagandakan pengusiran dan pembunuhan dzuriyah Rasulullah Saw, sehingga Ahlul Bait menyelamatkan diri ke Tarim Hadramaut Yaman, Nusantara, dls. Bahkan fakta sejarah mencatat Wahabi adalah aliran Islam tandingan buatan zionis yahudi. Atas rahmat dan ridha Allāh SWT, setelah Raja tutup usia, 3 putra raja akan berperang berebut kekuasaan, dan ketiganya tidak ada yang menang, maka Haramain dikembalikan kepada kekuasaan Ahlul Bait, Dzuriyah Rasulullah Saw yang dipimpin oleh Imam Mahdi. Allāhua'lam... لا إله إلا الله محمد رسول الله 🙂🤍☝️🤲🙏🇮🇩🇵🇸🇾🇪🇹🇷🇸🇦🏳️🏴
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  • https://curitibaeparanaemfotosantigas.blogspot.com/2023/05/o-inicio-do-bairro-santa-felicidade.html
    https://curitibaeparanaemfotosantigas.blogspot.com/2023/05/o-inicio-do-bairro-santa-felicidade.html
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  • The Wasatch Front Mountains still full of snow
    This is a metropolitan region in the north-central part of the U.S. state of Utah. It consists of a chain of mostly contiguous cities and towns stretched along the Wasatch Range from approximately Santaquin in the south to Logan in the north, and containing the cities of Salt Lake City, Bountiful, Layton, and Ogden.
    The Wasatch Front Mountains still full of snow This is a metropolitan region in the north-central part of the U.S. state of Utah. It consists of a chain of mostly contiguous cities and towns stretched along the Wasatch Range from approximately Santaquin in the south to Logan in the north, and containing the cities of Salt Lake City, Bountiful, Layton, and Ogden.
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  • https://curitibaeparanaemfotosantigas.blogspot.com/2023/05/antonio-francisco-de-santa-rita.html
    https://curitibaeparanaemfotosantigas.blogspot.com/2023/05/antonio-francisco-de-santa-rita.html
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  • James Badham, University of California - Santa Barbara - Beyond Moore's Law: Innovations in solid-state physics include ultra-thin 2D materials and more:

    https://phys.org/news/2023-05-law-solid-state-physics-ultra-thin-2d.html

    #MooreLaw #FieldEffectTransistor #FET #ChargeBasedFieldEffectTransistor #TFET #SpinFET #Transistors #ElectronSpin #Spin #FloatingGate #FGFET #Tunneling #DataStorage #SolidState #Qubits #QuantumMechanics #MaterialsScience #QuantumPhysics #Physics
    James Badham, University of California - Santa Barbara - Beyond Moore's Law: Innovations in solid-state physics include ultra-thin 2D materials and more: https://phys.org/news/2023-05-law-solid-state-physics-ultra-thin-2d.html #MooreLaw #FieldEffectTransistor #FET #ChargeBasedFieldEffectTransistor #TFET #SpinFET #Transistors #ElectronSpin #Spin #FloatingGate #FGFET #Tunneling #DataStorage #SolidState #Qubits #QuantumMechanics #MaterialsScience #QuantumPhysics #Physics
    PHYS.ORG
    Beyond Moore's Law: Innovations in solid-state physics include ultra-thin 2D materials and more
    In the ceaseless pursuit of energy-efficient computing, new devices designed at UC Santa Barbara show promise for enhancements in information processing and data storage.
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  • https://curitibaeparanaemfotosantigas.blogspot.com/2023/05/caravela-santa-maria-afundou-na.html
    https://curitibaeparanaemfotosantigas.blogspot.com/2023/05/caravela-santa-maria-afundou-na.html
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