Vice President Professor Yemi Oshiba-jo says ensuring accountability in the provision of services to customers and prioritizing the needs of the people should be the driving force of corporate organizations in Nigeria. The vice presidents say that these were he received members of the board of MTN led by its group president Raf Muppete at the president's show villa. Oshiba-jo said that it was critical for corporate organizations to show commitment to improving services and to build confidence in the people. He said that for telecom firms like MTN financial inclusion and the broadband connection were crucial in deepening access and would help to connect hard to reach places and to retail social welfare and services.


and we're about counting down into February. Yes, January is almost over the longest month of the year as people like to say. Anyways, welcome to the breakfast. We have a lot in store for you. But first, my name is Romeo Paulson. My name is Romeo Paulson, but I must say that this January is the fastest January of every month. Generaries have always had January and then January full marks. Very long, the longest month. This January is quite short and I don't know why I'm trying to wrap my head around what it is. This January is supposed to be the longest of all the January's I've experienced because of the economy. Yes, but it just happened that it was so fast and everybody's talking about the fact that it was so fast. We thank God for small nurses. We don't hope that as fast as it is, that's how the pockets will be replenished. Amen to that. Amen. I mean, we're only that right now. We need to save it. But yes, anyways, we'll be looking at what the national dailies are saying as well as some hot topics. But and also some top trending stories. But first, let's take our quotes of the day. The great myth of our times is that technology is communication and that is by Liby Larson is a composer. The great myth of our times is that technology is communication. So a lot of time we think that's really deep. That's really deep. Very, very deep. I think that's one of our deepest quotes on technology. You know, technology, we just feel okay because we can talk to another person. That's communication and it's good enough. Nothing beats physical contact, nothing beats true friends, nothing beats physical friends that you can laugh with, cry with and all that and know that they're just there for you. You could have like a million or five million likes or a hundred million likes and some of the people that commit suicide are high profile people with so many likes. So imagine if they had half of that number as true friends. I really like them. I really love them. I'm sure they will never have to go through whatever they go through. So communication gives us, it bridges the gap, but it's not really the technology, sorry. It's not really the communication that we need to survive and be human as we should be. It's really deep. It's quite a very deep quote because when I saw that I was just like, oh wow, that's quite profound because it's so true. Most times we think like, don't get me wrong, technology is good. Technology is what is, you know, brought us. In fact, the reason why we're here right now and people are watching us on TV, online as well is technology. So technology has its perks, but then it's when you start to think that that's all that there is. That's the only way you can communicate with other people, but that's not it. There's something wholesome about having someone next to you. You can see their eyes properly. You can see their body language. You can tell how they feel about you and it just makes you happy and glad that you have these people in your corner. So technology is great for you to communicate, but that's not all that there is to communication. And what are, what the person who wrote this quote is saying, it's just a myth that you think technology is, you know. I mean, as you grow older, you find out that the communication you get through technology does not really do you any good. When you get older and all your children, for instance, are grown up and you're left alone and they gave you a phone every once in a while they call you and they never get to come home after all we are communicating with him. It just depresses you and you know that you spent your youth, that you have spent building relationships, physical relationships in just using technology and thinking that that is communication. Communication has to do with the physical and somewhat spiritual. Let me say soon something deeper than just what you're seeing outside. And if we're spending time not building that kind of communication, then technology will take away the chunk of the real communication that we need in the later years. Because at the end of the day, it's really about spending moments or rather creating moments with the people that you love. And when you're creating a moment, most times you really can't have that wholesome moment when you're doing it over the phone or over a laptop or something. But when someone is there, you're creating those awesome moments that you would cherish forever.  But sometimes it's never really enough because you want that whole and the key is the wholesome moments with people. Well, you see, I think China or so is developing an app or they have already developed an app where you can kiss, you know, from afar.  And I'm like, what is that? How does that even work? I mean, technology is good, but please. Yeah, but okay, so our hot topic today is about technology where the security people are saying that lack of gadgets is making them not able to track down criminals and do what they're supposed to do. I just asked myself when I saw the topic, you know, what happened when we had no tracking devices where the police not investigating and arresting people. Well, we'll have an expert to talk about that, but let's go to the top trending. You take first. So our first top trending today is reverse police rescue one day old baby from child traffickers. The operatives of the river stick police have killed a notorious sea pirate cultist and gun runner, John Togo, who allegedly terrorized the coastal communities along Bonny Potacot waterways. The commission of police in the states, Mr Olatunji Disu, said the suspect Togo the second was a member of the dreaded Iceland court, adding that he ranged terror on residents of the state sea travelers. Disu noted that the police operatives in collaboration with the C4I intelligence unit and the Bokiri police division while acting on credible intelligence had stormed the camp of the criminal gang. He noted that on sighting the police, the group had opened fire adding that the kingpin was brought down in the process. Disu disclosed that before Togo's death, he operated an illegal or bunkering camps engaged in armed trafficking, killings and robberies. According to him, John Togo's criminal career began in the Bokiri area of Potacot where he initially engaged in cult related activities, gradually graduated from petty crimes and evolved into a full-fledged kidnapper and sea pirate, assembling a gang of ruthless criminals along the way. He adopted the alias of ex-militant John Togo who had been killed in July 2011 and he and his gang gained notoriety in 2021 due to their involvement in a series of sea piracy and kidnappings which ignited the NC piracy protests and campaigns that reverberated throughout Bonny Island in January 2021. He targeted commercial boats mercilessly killing drivers and throwing passengers into the sea as he stole the vessels. In one such encounter on the 17th of July 2023, Togo engaged security forces in a shootout, compelling them to abandon their gunboat. In another development, Disu said police rescued a day old baby and apprehended two suspects involved in a case of human trafficking. Disu hinted that if the incident happened on Monday, the 22nd of January 2024, when some diligent officers from the C4I Intelligence Unit of the command conducted a routine stop and search operation along the Iguuruta and Nekarod. The CP said the officers intercepted one Daniel Destiny on Yegbule, a 28-year-old male from Umoye in a chair local government area and Uzo Dima Eze, also known as Thank God, a 33-year-old male from Omanwa, Ikwere local government area of the state. Daniel allegedly disclosed that he had been contacted by a woman known as Madame Destiny, Mamat Destiny, a pastry vendor in his locality who enlisted his services to transport the sack bag containing the baby to Nekar Junction with instructions to await further contact from an associate who would receive the bag in exchange for the payment of 10,000 Naira. 10,000 Naira. I mean, first things first, there is no amount of money that is worth any life. And then how do you kidnap a day old baby or traffic a day old baby and you're selling or you're exchanging for 10,000 Naira? My brother is of the NDLEA and he sent a video on the family group not too long ago where there were like so many sacks and guess what, inside those sacks were children. Oh my goodness. Some of them, maybe 10, 9, some of them toddlers and all that, they were inside sacks that were tied at the top. How are you breathing? I just wonder and they were trying to traffic these people and I was just thinking how the thought process of these people, when they do things they do and when they're trafficking these people, it's not as if all of them are going to end up in forced labor. Some of them might end up in one ritualist altar and they don't just care and you're selling someone for 10,000. They basically sold their souls. I just don't know. Could us today to the police that they were able to do this and I hope that more of these terrible people will always be apprehended like this. I don't know why this keeps happening but well thank God for them. Yeah, thank God for them. The second top trending story is that EFCC arrange impeached Ogun speaker Luamo through others, the impeached speaker of the Ogun State House of Assembly, alongside two other principal career officers of the assembly, Dario Samuel and Adeyomo Adedigi, were on Monday arranged before a federal high court sitting in Okemoson at Biokutach, the capital of the state. Oluomo and the duo were dragged before the court by the Economic and Financial Crimes Commission over alleged misappropriation of public funds running into 2.5 billion naira. Oluomo allegedly committed this financial fraud while he was the speaker of the House of Assembly in 2022. The former speaker was last week removed by 18 out of the 26 lawmakers over allegations, bordering on financial misappropriation, high handedness, gross misconduct, arrogance, poor leadership style, lack of focus and transparency and pitching themselves against themselves or pitching members against themselves. Oluomo has however described his removal as illegal, saying that he had already instituted a suit at the state high court to challenge his impeachment. On Monday shortly after the trial entered the dock, the court discovered that the counsel for the anti-graft agency could not make it to the court. The presiding judge, Justice Agatha Okeke, however adjourned the case to February 29 and March 1. The EFCC had in September 2022 arrested and later arraigned Oluomo for allegedly diverting 2.5 billion belonging to the Assembly. Oluomo was arraigned alongside the clerk of the House, Taiwo Adeyamo and the director of finance, Ola Dayo Samuel. Anti-graft agency had the accused speaker and others forging receipts and signatures to divert billions of Naira from the legislative house. They were there after a granted bail, after pleading not guilty, even as they were asked to submit their travel documents at the court. Okay, he's been arraigned. Just on a lighter motor, the case was adjourned to February 29. They are making use of the extra day. Yeah, it's a leaky year. So if they had adjourned it last year, it couldn't have reached 29. I just saw that. Okay, but you know this person has been arraigned. Sometimes when, I'm not saying this is what happened, but sometimes when the Assembly members say someone is high-handed, he is non-cooperative with the people, you just know that the money is not changing hands. It's not yes, it's not flowing. So this 2.5. I wonder if he took the money himself or he really took it. Maybe there was money that was misappropriated. Maybe there's also a percentage that got to the other people and it was not big enough. We'll find out. I hope that whatever it is, he speaks out the truth and we find out where the money is. And EFCC even like investigates more. Well, that's their job to investigate and be sure of what exactly happened.  It's 2022 and now it's because he has been removed by other members of the Assembly that EFCC has stepped in again. What were they doing since then? That's what I'm saying. They have to do their due diligence. They can't just arraign him because of suspicion or because some members came out to say these things. They need to investigate to see what exactly happened. Because most times, you know, when someone comes into power or any leadership role, when you are not doing the bidding of the people, they start to look for ways to bring you down. Now, I'm not saying you are innocent because, you know, they even say who must come with equity, must come with clean hands. So when you don't have those clean hands, they look for something to just use to index you. So it's possible that there's been some form of money. Yes, it's possible that something had happened and then they just use that to drop him here in and just say, oh, this is what he has done. Paul leadership style, you know, misappropriation of funds and all of that. But yes, let's just see how the story goes. It's also possible he was ruling with impunity and all they were saying was true. Well, we are going to find out. But the thing that I'm worried about is that we should stop defining things according to how we like them in Nigeria. Yes. Whatever is the definition should be kept as the definition and you follow through. Impeachment means accusation. That's all. But here, once you hear impeachment, the person has been removed. Impeachment is you are accusing someone that he did something. So if he has done something and you are accusing him, take him to court, find him guilty and then remove him. You don't remove him before you find him guilty or not guilty. So what if he's not guilty and you already removed him? What happens? You're instating him? I don't know. So the guy will now win the case if that is, if he's found not guilty, he will win the case. He will get all his entitlements as the person who was the speaker. If he was paid double of what he's supposed to be paid as a member, you will still have to pay him because you removed him illegally. So we should follow the process. We should define words the way they are. Impeachment is not removal. It should never lead to removal. Donald Trump was impeached. I was just about to see that as well. Impeachment is okay. He had some case answer. So he answered it and he was still president. But here, once you hear he has been impeached, that means he has been removed. We need to know what the terminologies are and use them appropriately. All right. So I'll find out top training story. We have federal government to inaugurate 37 member committee on the new national minimum wage. The federal government is assembled at 37 person committee, taxed with proposing a new national minimum wage on Tuesday, January 30. At the council chamber, presidential villa, state house, the spokesperson for the office of the secretary to the state, to the governor, to the government, rather, of the federation, disclosed this in a statement. The existing minimum wage set at 30,000 naira per month was approved in 2019, following the passage of the minimum wage bill by the national assembly. The labor unions demanded an increase on the 30,000 naira minimum wage, citing rising inflation and the naira's depreciation. President Bolatini, after his swearing into office, promised that his administration would provide a leaving wage for Nigerian workers because the existing national minimum wage was not enough, in quotes. The committee to be is to be inaugurated on Tuesday, January 30, which is today both a diverse list of members, including representatives from the federal and state governments, the private sector and organized labor. The former head of civil service of the federation, Buka Adji, will chair the group taxed with navigating the complex and often contentious issues of the minimum wage. Members are urged to arrive early to process their clearance at the security gate and to be seated in the council chamber by 11.30am. In addition, a shuttle bus will be available at the pilot gate to transport attendants to the venue. Also, members of the committee should contact the head of secretariat, Chia Adiogu director compensation, international salaries, incomes and wages commission for information. Well, I'm waiting to see what happens here. 37 members, that's fine. So, why do we need 37 members to just discuss what the minimum wage will be? Okay, the seven members are talking about minimum wage and... First, you're already going to be paying digital money. Like, there's money I've located for this stage. All the people that are going to become, aside the 37 members, even people that might come there would get something or another. Then now, how much, I'm not sure it's going to be less than, I don't know, whatever amount. But those monies that are... Five million. I was about to even say one million. I was trying to be... Five million times 37. And those monies can actually be used for a better cause. We're talking about minimum wage. Why not add it to the budget of the, you know, amount you want to pay people? Some governors will be giving 500 naira to pregnant women. Yeah, we've seen that in the last administration. But, you know, if things are working, if the system is working, we don't need committees upon committees. They keep setting up committees and all that. So, whatever happens to the Ministry of Labor and Productivity, for instance, having a dialogue with the labor, labor has a plan, the labor has demands, and they have all this worked out, and they have formed their own committee to argue for this minimum wage and all that. What is the Ministry of Labor doing, Labor and Productivity, was the relevant ministries doing... These 37 people, where are they coming from? Are they paying them as people that are part of the committee, or they are doing that as part of their job? Because if it's from the Ministry that is involved, then you don't have to, you don't need to pay them extra. Even if you are giving them something, it wouldn't be as much as some people who are coming from outside to do this. But bottom line is, we like committees too much. I think India defends because of the fair that I saw of people that are coming. Maybe India defends, they want it to be as holistic as possible, in the sense that they want people from different walks of life, different sectors. So it's not just people from the government, it's not just people from the organized private sector. So they want everybody just for inclusion. Why are you looking at me like that? I'm just saying, I'm trying to defend India. So maybe that's what it is. But still, you know there are times like, for instance, if you have to do jury service, I think that's what it's called. You have to do that for free. For instance, in America, it's like part of your civic duties. Exactly. So except that's what this is here. Like that's what's happening here. In Nigeria, don't even think it. Don't even think it. Don't think it. Don't think it. Land where? Where are you landing? There's no place. There's no helipads. There's no airport for you. Don't land. Wait, hold on. I'm saying maybe that's the case for these 37 members. It is not. They are doing it. It is not so high. Don't even use a maybe. It's not. It's not. They will be paid. They will be given money to do this. They're not volunteering. They're not volunteering. They are going to be paid. Even if they're not calling it pay, they will tell you that, okay, they are coming to Abuja to stay somewhere and then. Do you understand logistics? Everything. Welfare. So don't even think about it. They will be paid. But the thing is, even if they are paid, what kind of amount they are going to be paid, I hope the committee will have recommendations that will be followed. And when they follow these recommendations, then we won't find the problems we are finding. But I think a basic and fundamental question that should have been asked is, why do people even need this minimum wage to go up? Because as I always say, if everything is working, a lot of people will not be complaining about what they're earning. If everything that I'm paying for can go under what I'm earning, then that's fine. Even if the minimum wage is 20,000 Naira, as long as I can afford every other thing. Let it be paying you in January last year, for instance. If they're still paying you that, or even double of it, the transportation, whether you have a car or not, the transportation will take like half of that money. You've not talked about if you have responsibilities. Everybody has responsibilities. Even the very irresponsible people have a lot of girlfriends. You have to ease it. They have a lot of boyfriends. They have a lot of people that help them to do the irresponsible things. So you still need to spend. So you find out what you were earning in January even last year. It's not even enough. It's not double of that. It's not even enough now. Yeah, I know the NLC is proposing about 200,000 Naira, which I'm not sure the government will go there. But even 200,000 Naira is 200,000 Naira enough to live in Nigeria right now. Even if you propose 500,000 Naira, the landlords are listening. The people selling at the street corners are listening. Once it is done, they up their price. The inflation goes up. What if a law works everywhere that, you know, remove money from society, there's no inflation, or when there is a lot of things, whatever law they've been using to fight inflation does not work in Nigeria. It doesn't seem to work. I may not be an economist, but everything they say, if you do this, inflation will stop. It doesn't stop. So you pump in more money by paying people more, a section of the people anyway, because it's not everybody that is working.  So, like I said- And they will tell you that they buy there the- Even when the house was built in 1958- They will still increase it. They will still increase it. What they, all they need to do is the landlords come together and fabricate a gate, put in the street. It becomes an estate. And then the price goes up. Because they have tried to do security themselves. They have tried to get light themselves. They have tried to do a lot of things themselves. That the government is supposed to- Good. So things will always happen like this. So why not just do the needful? And then gradually it is in the law that a civil servant gets paid upgrade after a certain number of years. You get your promotion after a certain number of years. Why not just follow that? And make sure the things that are making people want more money are provided as simple as that. Well, let's see what happens with their 37 member for the Committee of the Minimum Wage. Anyways, we'll go on a quick break. Congratulations. Political appointment. Wanna say something? We'll go on a short break. And when we return, we'll be looking at what the National Dailys are seeing this morning. But first, let's check out the weather. Stay with us.


So, we have decided to release 85 plus videos of our paid content completely for free to you. We're talking about how to create a profitable restaurant from scratch from A to Z. We're talking about how to sell food online, the templates, everything. Things that I've been charging thousands of dollars for for years, completely free of charge to you, no strings attached. So make sure you guys keep watching. Hello friends, my name is Wilson. In the last seven months since I have switched course in my career, I've still been getting a lot of emails and questions about, hey, how do I do this? How do I do that? And I felt I started to feel that there is a sense of the service on my end to keep this content still gated. When I first started the food and beverage business, it was very, very difficult. Five, six years ago, there was no blueprint. There was no one teaching me how to take the first step. How do you market in the food and beverage world? How do you calculate your food costs? What's the margins that we should aim to hit? Let alone the many different steps that creating a restaurant takes. All the information that I find online was what to do, but never had I found something that was a guide on how to do it properly. And that's the reason why I made a lot of mistakes. We're talking about tens and thousands of dollars of mistakes throughout my entire journey until I was able to document the process, systemize the process, and to create a framework that has allowed us to grow into a seven shop international ice cream chain and ultimately getting it acquired. And this is something that I felt somewhat compelled to share with you free of charge because I had only wished that there was someone like that for me on the other side when I first began, that there was this resource available, that I don't have to fork out thousands of dollars because quite frankly, when I first started, I don't have thousands of dollars just to spend on education. And because right now I'm in a position to do so, I realize what better way to give back to the community than to release all my paid content completely free of charge to you and put it on to YouTube. And that's exactly what we've decided. No strings attached, no catch, no nothing. I don't even need your email address, I'm not going to upsell you on anything. It is my parting gift to you. So I really hope that you can take this knowledge and create something meaningful out of this and to go and chase your dreams, go and create something that you can take care of your family. And if any of the resources that I share with you, you resonate with it, you find it valuable. The only thing that I ask of you is to just smash that like button, leave me a comment and so then that way I know this is actually helpful to you. We're going to be sharing all the templates in a Google Drive as well so you can download all the templates. We're going to be releasing all 85 plus of the videos that we have to take in hours and weeks to record and to prepare completely all for you. The links are going to be in the description below and it's going to be broken down into different playlists. We're going to have descriptions to share with you what you can take out of each of the lessons below. And I hope that you can take this and really run with it and to create something super super meaningful for you. And as a disclaimer for you guys, the courses and the content that we've recorded was from 2020 so we haven't updated it since then so there are going to be some information that might be out of date. However, the business fundamental of what you need to really succeed are all in the videos.  Well of course it doesn't apply because it's not been updated just yet. But nonetheless I think it is still super valuable information for you. So check it out in the link below. And for those of you that wants to have an update on how I'm doing after the shift in my career, here's a little update for you. Since I made my last video, this is goodbye right here. We switched to creating a NFT brand called The Littles. And since we have started that as of end of November early December January, we have established a official partnership with Time, the decade old brand magazine with a partnership with their studio to create an animation series featuring The Littles and my two and a half year old Jordan. So it's something that I've never dreamt of even when I started the journey. So it's definitely very very surreal. And not only that we've also been officially slated to work with Nalvana which is one of the biggest animation studios out there to create the first three to five episodes. And so we're actually in production. They are a company that owns a lot of major television network from YTV to Cartoon Network. And so it is once again a crazy whirlwind of events that's been happening with that side of the project. Not only are we working on animation, but we've also partnered up with a lot of new brands. We've partnered up with Casify to create a launch and merch. They were one of the biggest cell phone accessory cases and brand in the world. We've also partnered up with American Eagle to do a collaboration with their apparel brand having our Littles IP on their apparel. We've also made an appearance in Times Square in one of the biggest billboards in the heart of Times Square. We flew the entire team there to celebrate it just a month ago. Again, a super surreal moment for us to be able to rep a brand that we have created from scratch just seven months ago. And now we are at the billboard in Times Square. I can't even imagine how things unfolded. It's incredible. Let alone the game that we have been creating as well. So a lot of moving parts to that and a lot of progress. So if you guys are interested in following my journey, you guys can check it out and follow me on Twitter if you guys want to check out my NFT career. And also check it out in my other YouTube channel where I talk more about NFTs, my personal brand, the Littles. Yeah, I think those are the only updates with that side. Really, really exciting. I hope that this gift for you, once again, is going to be meaningful. I hope that you can do some great stuff with the information that I'm sharing with you. And once again, the only thing that I ask in return is that if you find the content that I'm sharing valuable, smash that like button to show the support. Leave me a comment in the description below. Otherwise, this is it.


we had commenced the simulation of a single machine connected to a voltage source through a reactor. We had in fact, just started that the main point to be noted in that was the behavior of the AVR. Now, AVR of course, is the automatic voltage regulator. The simulation studies of interest are the step response of the AVR to a step change in the reference voltage of the AVR. Also, we need to see in the simulation how with changing load conditions whether the AVR is able to regulate the voltage at the terminal of a synchronous machine connected to a voltage source or an infinite bus. Of course, the important difference between the simulation we are carrying out now and what we carried out a few lectures back was that the synchronous machine is not directly connected to a stiff voltage source, but it is connected via a very a kind of a toy model of a transmission line. And the transmission line in fact, is a model just like a reactor. Now, if you look at what we are trying to do the synchronous machine was connected via a transmission line to another stiff voltage source is the infinite bus. This is the transmission line, this is the synchronous generator, this is the terminal voltage of this machine was being regulated. So, we took the feedback of the voltage at this point and fed it to a voltage regulator of this kind, simple proportional kind of voltage regulator and the excitation system was assumed to be a static one. So, the model of it with normalized quantities is simply a plant with a gain of 1 and the limits of the static excitation system of course, were taken this is fed to the field winding and of course, the feedback here is the magnitude of the voltage which is root of V d square plus V q square. We assume there is no measurement delay here, we could if we wished a model this delay by a first order transfer function, but we will not do that right now. The simulation was is being carried out with the following steps, first the synchronous machine is synchronized to this voltage source. It is in fact, it is a kind of a bumpless synchronization we have talked about synchronization of a synchronous machine before. So, I will not talk of it again right now, initially the voltage other the power of course, initially is 0 at the time of synchronization and the open circuit voltage is 1 per unit and the machine is running at practically the rated speed. Now in order to create 1 per unit at the terminals of the machine, you need to have E f d is equal to 1. So, the output of the excitation system should be should give a field voltage which results in the terminal voltage being at its rated value at rated speed.  So, 7.0 into 1 and minus 7.0 it is within the limits. So, it is not getting clip and to create this E f d you have got an automatic voltage regulator V ref and this is V which is nothing but root of V d square plus V q square. Now, since this is equal to 1 this is 1 the gain is k a. So, it follows that the value of this error here is 1.0 divided by k a.  So, one thing you should notice this is a proportional controller there is some steady small steady state error. In fact, the steady state error is less if k a is large. So, V ref and V are not exactly equal if you got a proportional controller you would need to have a small steady state error in order to get a non zero E f d. So, this is something which you should keep in mind. So, V ref can be back calculated. So, what is the V ref which results in V being equal to 1.0 under open circuit conditions well it is equal to this. So, V ref is slightly greater than what is required that is what V be required. So, if this is 1 this will be E f d which is non 1 by say if k a is 200 which is a typical gain per unit by per unit then your V ref is equal to 1 plus 1 upon 200. So, that is equal to 1.005. So, you see that V ref and we are almost the same provided k a is large which is indeed the case k is normally quite large. So, in our studies right now we will assume k a is 200 P a the time constant here is we will take it as 0.02 it is a small value and once we synchronize the machine there is no power flow. So, actually nothing changes because you have just had a bumpless synchronization the conditions on the machine do not change. However, if I increase the mechanical power out input for example, initially of course, before synchronization the machine is simply rolling. So, if I increase the mechanical power after synchronization say I give a step change it is not possible to give a step change to the mechanical power, but let us just take it as a mathematical idealization. If I give a step change in the torque electrical torque you will find that the power flow through this increases and presumably it will remain in synchronism. So, the speed of this and this will be the same these two machines this machine and this voltage source is going to be the same that is in spite of the change in power the synchronous machine tends to remain in synchronism with this bus, that is a important change as soon as some current starts flowing that is some power starts flowing the voltage here tends to drop. So, if you did not have a automatic voltage regulator what would happen is this voltage would it would drop and E f d would remain the same, but with the voltage regulator as soon as V drops V ref is of course, the same right now V ref drops E f d is increased. So, this voltage here is regulated and E f d is not a constant. So, an automatic voltage regulator saves us the trouble of trying to you know manually trying to change E f d every time we change the mechanical power it does it automatically by satisfying this regulation function. So, that is the first test signal we will give to this machine the second test signal we will give is give a step change in V ref keeping torque constant. So, what we will do is increase this reference voltage of this A V R that is I am going to increase this voltage. Now, you know that if I increase this voltage will the mechanical power or the electrical power be affected no what instead will get affected is since this voltage is increased the reactive power output of the machine will change. So, this Q here will change. So, this is one important thing which we will see now in our simulation. So, today's lecture we continue the simulation of automatic voltage regulator in fact, it is a system which contains an automatic voltage regulator. So, what we will do is first synchronize the machine it is a bumpless absolutely smooth transfer smooth interconnection there after that is of course, done at time t is equal to 0 and there after we we increase the mechanical torque of the machine we increase the mechanical torque of the machine and there after we increase the reference voltage of the A V R to 1.05. Now, since this is a absolutely smooth synchronization we have assumed that the rated speed of the machine the machine is running at exactly the speed which is equal to the infinite bus and the line to line RMS open circuited voltage is equal to the voltage which appears right at the point where the circuit breaker has to be closed. So, you can see that there is going to be a bumpless transfer of the magnitude of voltages the phase angle also is 0 at the time of synchronization. So, what we will have is a bumpless synchronization first at time t is equal to 0 we will not see any transient because it is absolutely a smooth synchronization we will do the simulation right away. So, I have already written the program. So, this time I will not show you the program it is simulating the system using Euler method Euler method can be used only if I remove the stiffness out of the system remove the stiffness in the system. So, I have neglected d side the stator transients at d psi d by d t d i d by d t and so on. So, this is something we have explained before in an earlier class. So, what I will do is concentrate more on the results this time. So, let us just see what happens to the speed. So, I will plot yeah. So, what you see here is almost a bumpless transfer here synchronization here at this point I give a step change in the mechanical power. If you increase the mechanical power in this system the infinite the machine does not lose synchronism. In fact, the step change in torque is 0.5 per unit from 0 to 0.5 per unit the machine remains in synchronize in the sense that it the speed of the synchronous machine all the way deviates in transients. There is a this swing which you see a low frequency swing it tends to come back to synchronism the speed tends to come back to synchronism at 10 seconds I have given again another step in the voltage reference of the synchronous machine. So, you see that in both cases the machine tends to remain in synchronism that is the mechanical the speed of the machine equals to the frequency of the infinite bus. Now, you can also see various other parameters for example, delta if you look at the delta of the machine this is of course, in radian the machine is synchronized when delta is equal to 0 and speed is equal to 0. So, you have got this bumpless synchronization right in the beginning and as soon as you give a step change in torque the phase angle of the synchronous machine the delta of the synchronous machine rather it changes. You see this swing which is also observable in speed it is also observable here. So, you see the swing this is one particular mode which is associated with the electromechanical variables delta and omega especially also when you change V ref you find that delta actually slightly decreases. Now, why is that so you have not changed the mechanical torque at this point you have changed delta to 1.05 from 1.005. So, if you make the step change in V ref delta reduces because E F D has changed once you change V ref you are effectively changing E F D also. So, that is why delta changes you again see a swing and with settles down to a steady state value. So, the delta settles down to a steady state value. So, if you actually plot the mechanical power rather the electrical power output of the generator which is V D I D plus V Q I Q you will find that we will do it. So, what you see here is of course, the mechanical power changes to 0.5 the mechanical sorry the electrical power follows the mechanical power you should remember you have got an infinite bus the synchronous machine is connected to an infinite bus. So, if the speed remains finally, the machine remains in synchronism and mechanical power becomes equal to the electrical power. So, you see that the mechanical electrical power output P is equal to the mechanical power it eventually becomes 0.5. If I change the V ref of the machine if I change the V ref of the machine the reference voltage of the AVR of the machine you find that the output electrical power P does not change this is not surprising after all by changing the reference voltage of the machine you are not changing the mechanical power. The mechanical power becomes equal to the electrical power in steady state if the mechanical power does not change the electrical power does not do. So, this is an interesting point here what if I plot Q Q is the reactive power output of the machine. If you look at the reactive power output of the machine if I if of course, the machine is initially synchronized there is no real or reactive power output at the point of synchronization. But, if I change the mechanical power the electrical power also changes F D also changes and you will find that the generator in fact, supplies a bit of reactive power there is some reactive power output of the generator. If I change V ref on the other hand if I change V ref what you are doing is not changing much the real power is not changed, but the reactive power changes quite substantially. So, by changing the reference voltage of the AVR we are in effect in effect changing the reactive power output of the generator and of course, the terminal voltage also will change under these circumstances. So, let us just look at the terminal voltage of the machine. Remember that the first disturbance or the first step a change is that of the synchronous mechanical torque at 10 seconds we are given a step change in the reference voltage of the AVR from 1.005 to 1.05. So, let us just plot the terminal voltage I think it is called V G. So, if you look at the terminal voltage well I have plotted something wrong I will just just a moment we will just look at the variable which is corresponding to it just slipped off my mind it is V GEN. So, we will just see what V GEN is this is the terminal voltage of the synchronous machine. You see that the terminal voltage of the synchronous machine initially is 1 when I increased if I increased the real power output of the machine by changing the mechanical power at 0.5 seconds you notice that the voltage slightly drops. Now why does the voltage drop that is the important point which you should ponder upon we will try to address it here. What happens actually is that when you have got a synchronous machine under open circuit conditions there is a certain field voltage which will produce 1 per unit at the terminals. Once you load the machine on the other hand that is you increase the mechanical power and therefore, the electrical power what happens is that the terminal voltage tends to drop now because the terminal voltage tends to drop E F D is increased. So, if E F D is increased V ref is the same. So, let us just do this you know kind of a cause effect kind of analysis mechanical power increases electrical power also tends to increase because of that if electrical power increases there will be from current 0 there is some current. So, current increases because current increases you will find that the terminal voltage tends to drop the terminal voltage tending to drop will force this automatic voltage regulator to increase E F D. So, if E F D is increased it also means the error has changed V ref we have not touched right now we are just giving a step change in mechanical power. So, what happens is effectively if the error in steady state if E F D required is more we will have to drop more this is because we are using a proportional controller and steady state error is non zero. So, to get more E F D you will have the steady state error will have to be more. So, V slightly decreases. So, once you load the machine since you have got a proportional type automatic voltage regulator you find that the voltage slightly decreases of course, if I give a step change in the V ref itself. So, if you look at what I am done here now now E F D is a certain value now V ref is increased if V ref is increased of course, you will find that the error here will have increased if error increase E F D will increase as a result of that V will increase, but remember that V ref and V are not going to be exactly equal that is why even though if I made V ref is equal to point for 1.05 at 10 seconds you find that actually the voltage settles down to around 1.0425. So, this is a kind of interesting look at the simulation it should correlate well with our steady state analysis. If you look at of course, this is something we have discussed even before you have got you should keep an eye on this swing. Now, if you look at this swing which is there which is seen in almost all the quantities it is a very prominent mode you will find that it is an oscillation of roughly 2 hertz slightly less than 2 hertz. Now, we will also look at E F D we have not looked at E F D. So, let us see how E F D behaves. So, look at E F D E F D once you give a step change in V ref sorry mechanical power E F D has increased from 1 which is the value required to get 1 per unit at the terminals of the generator under open circuit conditions or no load conditions. If I increase the mechanical power if I want to get 1 per unit at the terminals I will have to increase E F D and that is what exactly the voltage regulator has done it has increased V F D from around 1 to approximately 1.3 or 1.2. Now, if I give another step if I give the step change in V ref you find that E F D again increases of course, that is true because if I want to get a higher voltage I will have to increase my E F D. Now, remember that once say the moment I give a step you see that the change in E F D is quite large why is that. So, that is because this is extremely high gain system remember I told you in order to get a very good response of the voltage regulator we do use a very high gain in our automatic voltage regulator this is because in order to offset the relatively slow response of the field winding what we do is we give a big push initially to the field voltage. So, that to get the field winding moving in the sense that you change the field current. So, that is why you provide for a very large when you are designing an excitation system in AVR you provide for large gains and a fairly large range in which E F D can vary normally E F D need not vary more than under steady state conditions more than 3 per unit 1 to 3 per unit is all what is required. But normally the ceiling is kept at more than 7 or 7 or around 7 times the terminal voltage. So, the ceiling voltage is around 7 per unit plus or minus 7 per unit. So, of course, if I give a sudden change like a step change in V ref the field gets forced, but of course, it cannot exceed 7. So, it kind of gets clipped at near about 7. So, what you see here is in this simulation is that the E F D is try to increase to a very high value in order to get a very good response from the sluggish field winding. But it is clipped at 7. So, you see this almost flat top here you see this and of course, once the field winding gets going there is no need to have such a large E F D and E F D finally, settles down to a more comfortable value which is roughly around 1.7. So, this is an interesting point. So, this is the showing the effect of the limiter the clipper which is there. You can also have a situation if I give a step change in the reverse direction of course, E F D will decrease. So, I will not do that simulation, but you can well imagine what will happen and in fact, you can try out this doing this particular simulation is very it is an interesting simulation. Now, let me tell you something which is very very interesting and important. Suppose, I if you recall I have written down this program and disturbances which I have given are at t greater than 5 seconds I give a step change in mechanical power at t greater than 10 seconds V ref is given a step. So, what I will do is I will not give a step change in V ref I will keep it as it is, but at 10 seconds I will give an additional step to t m. So, I will put mechanical power is 1 per unit which is at rated speed equal to the rated power output of the machine. So, what I am done is I am trying to load the machine completely. Just one small point which I need to reiterate here is that normally one cannot give such step changes in mechanical torque this is just an idealization it is just a kind of a toy simulation in that sense. In later classes we shall see about the modeling of the prime over systems themselves and you will note that you cannot give such step changes normally. So, let us just try to redo this simulation in the meantime I will just close this graphics graphical window which is of the previous simulation. So, if you look at the simulation now if you look at for example, just look at speed there is an interesting problem which seems to have arisen now is that the speed does not seem to settle down. In fact, the machine to for all practical purposes seems to have lost synchronism you see that the speed is increasing with time and if you plot for example, delta also we will of course, close this and redo this. So, you see delta it does not seem to be reaching steady state it seems to be growing with time. So, these oscillations are growing with time. So, why is that happening I mean that is an interesting point which you should ponder on I mean it is going on increasing with time. In fact, if I simulate for a longer time this is a simulation for 20 seconds if I make it a 25 second simulation let us see what happens. Simulate for a slightly longer time and redo this close this. The delta seems to have kind of is not settling down it in fact, if you look at what is happening is that it is increasing. So, this looks as if this particular operating point or equilibrium point which it should settle down to does not seem to be stable it seems to be small signal unstable. So, that is an interesting thing. So, the feedback system which we have got seems to seems to be suggesting seems to be creating a situation for certain operating points which leads to a oscillation which does not seem to be dying down. So, if you in fact, maybe if I give a make V ref also increase at the same time let us see what happens let us do another simulation. So, what we saw in the previous simulation was that there is a oscillation in delta, but it is it is kind of increasing with time it is not you know usually we expected the delta decrease and you reach steady state. So, by giving step changes etcetera we were expecting that things would reach steady state, but it appears that there are situations in which steady state is not reached. In fact, this seems to be even worse your angle seems to have increased even more. So, or perhaps it is more or less the same, but you see that this is also unstable. So, actually what we are effectively coming to a situation where the equilibrium point under our study appears to be unstable. So, what we should expect is that at this operating point when we do a linearized analysis of the system we should get Eigen values with positive real part. So, that is what we need to correlate in our analysis now. So, let me just again point out what I want to say we are having a situation when we try to change the power from 0.5 to 1 we see that the system is not settling down to the new equilibrium point. Now, what it what this means is that why is it. So, actually why should the behavior depend on the equilibrium point well one of the important points you should note is that this is a non-linear system. So, when we do a linearized analysis we will be linearizing the system around each operating point. So, when we do the linearized analysis around different operating points our Eigen values going to be are going to be different. So, while step changes to 0.5 T m is equal to 0.5 or v ref is equal to 1.05 which we did in the previous simulation were all stable. We see that in trying to come close to T m is equal to 1.0 there seems to be a problem. So, the operating point to which we are trying to get to appears to be not stable not small signal stable itself. So, what we need to do here is try to understand this instability of the swings you see this low frequency swing which we expect to be stable and to die out is growing with time because the feedback feedback control system of the AVR. So, if we kind of try to do a linearized analysis how do we go ahead. Now, linearized analysis is something we have done before I will just quickly retrace some of the steps. So, what we have in our equations of a synchronous machine if you look at the equations of a synchronous machine these are in fact non-linear. So, we have done the linearization of such systems before. So, what we need to do is instead of having a set of system x dot is equal to f of x what we need to do really is do a linearized analysis around an equilibrium point of this system. So, if we have written down our equations in this form we should now see we can do a linearized we have done a simulation of this system this is a full non-linear system. We can try to understand the stability of the equilibrium point by doing a linearized analysis in this form. Remember that when doing the linearized analysis we have to take we have to linearize it around an equilibrium point. So, there is one important thing is first thing is have to linearize. Linearize in the sense use Taylor series expansion of the non-linear functions which appear here that is called linearization and evaluate those you know after truncation of the higher order terms you evaluate this at the equilibrium point. So, second thing is you have to take out the equilibrium points. So, linearized analysis would require first of all you to take out the equilibrium point and the second part is you linearize around an equilibrium point is it. So, this is what you need to do how do you compute the equilibrium point. So, in fact long ago I mean I am sure it is not too long ago you must have done the load flow analysis. So, load flow analysis in fact is a kind of an equilibrium analysis of the system, but of course that is the in some sense the starting point of computing any equilibrium. In our case we have got a very simple system in fact computing the equilibrium points is very very easy. So, let us just go ahead and see how you can do it. Suppose I want to find out this the equilibrium values of the states corresponding to this scenario. You have got this transmission line which has got a plane reactance x this is your infinite bus which we take as 1 angle 0 that is I have already defined what the infinite bus voltages are V a n, V b n and V c n in the previous class. Let us say the terminal voltage of the machine is 1 per unit it is near about 1 per unit and T m is equal to 1. If T m is equal to 1 and this is at rated speed then it also means that electrical power output of the machine we have course neglecting the losses in the resistance of the synchronous generator they are really very small. So, compared to this p. So, we will assume that electrical power output at the terminals of the machine is same as in per unit as T m because the speed is equal to the rated speed. We will assume that the frequency of the infinite bus is also equal to the rated frequency. So, if p is the output of the machine this is 1 per unit what is the phase angle of the terminal voltage of the synchronous machine that can be easily found out you know that for the system with reactance x voltage magnitude 1 on both sides the phase angle of the voltage here theta is such that p e is equal to 1 per unit is nothing but voltage magnitude at both ends divided by x this is of course, a multiplication sign and this is it looks the same. So, we will just make this larger here into sin of theta. So, theta you can calculate theta from this. So, what let me just remind you what we are doing we are computing the equilibrium point corresponding to this operating condition and thereafter doing the linearized analysis. So, theta is sin inverse p e this is at equilibrium divided by 1 into 1 divided by into x. So, this is theta we also can compute the current flow through this once you have got theta you can get the current. So, the current phasor can also be obtained. So, once you have got the current phasor. So, current is equal to v angle theta minus e angle 0 e is 1 per unit e is the infinite bus voltage divided by j into x. So, this is effectively the current I once you get the current I we are effectively can get the what the current looks like. So, what we have effectively done is if you actually look at if you look at what we have done in another way what we have done effectively is set the right left hand side d by d t is equal to 0. And therefore, we have got i d i q i d i q. If you look at the equations which we saw on the screen you can have a look at them again 0 minus x x and 0 is equal to minus of v d v q minus e d e q.  You can just expand this and show that this is the same as this. So, what let me tell you what we know that we know what we effectively get is this particular equation. That is why it appears like this. So, the point here is that you have got one angle 0 these are the voltages of the infinite bus e a n e b n and e c n. So, what does it mean that e a n is equal to root 2 by 3 sin omega naught t and e b n and e c n is equal to root 2 by 3 sin omega naught t plus theta minus 2 pi by 3 and e c n is minus 4 pi by 3. So, it means v a n is equal to root 2 by 3 sin omega naught t plus theta and v b n is of course, root 2 by 3 sin omega naught t plus theta minus 2 pi by 3 and e c n is minus 4 pi by 3. So, the point is that if I know theta I can tell you what v a n, v b n, v c n look like as a result of it we can get what v d and v q look like. That is the most important thing which you should get out of this. See if you know e a n I told you that e d is equal to minus e times e is 1 in this particular case sin delta and e q this is plus e cos delta. So, v d v q is therefore, if v is equal to 1.0 angle of theta what it follows is that v d is equal to and v q is equal to 1.0 sin of theta minus delta and 1.0 of cos of theta minus delta. So, we have got v d and v q and e q and e d. How did we get v d and v q? We computed theta, theta is obtained from the initial condition.   So, if I have got i d and i q v d v q and e d e q the next step is to try to back calculate what is the value of delta omega and all the other fluxes. Now delta omega is equal to omega naught in steady state. So, if we are talking of an equilibrium point omega will be equal to omega naught. So, we are taking out an equilibrium we are doing an equilibrium analysis we are back calculating the equilibrium conditions. Under equilibrium conditions psi d is equal to x d into i d plus e f d. How does one get that? Well, what you have to do effectively is set d f dot d psi f by dot by d t is equal to 0 and d psi h by d t is equal to 0. So, if you set this equal to 0 you will get psi f and psi h in terms of psi d. After that replace it in the algebraic equation which relates psi d with i d you will effectively get this particular equation. Similarly, in steady state this is not true in general this is true only in steady state please remember psi q is equal to x q i q similarly you will get psi q. So, under steady state conditions this is what you get. Now, we know that in steady state condition d psi d by d t is equal to 0. So, what we will get is 0 is equal to omega into psi q under equilibrium conditions omega is equal to omega naught this is equal to the base value minus omega b r a i d minus omega b into v d. Similarly, you will have sorry this should be minus omega square plus omega psi d this is got by putting d psi d by d t and d psi q by d t equal to 0 which is true under steady state conditions. This is minus I am sorry this should be minus i d minus omega b v q. So, what happens is if you assume resistance is very small of course, if you have the value there is no harm if you assume that it is very small what we will get is v d is equal to v d is equal to omega b and omega are the same we will assume that the speed of the infinite bus is the same as the base speed in such a case v d is equal to minus psi q and v q is equal to psi d. So, this is one important thing which we get. So, what we have is v d is equal to minus x q i q and what we have here is v q is equal to x d i d plus e f d.  So, this should be minus here e f d minus j into x d into i q plus j i d. So, what I have done is just added up these equations and written them in a particular compact fashion. So, what we have here is so what you have is here is j this is plus j this is plus j x d x.  An alternative way of writing is this is e f d minus j x q into i q plus j i d and instead of so instead of x d you write it as x q and as a result of which the additional term you will get is. So, you can write it in this fashion also. So, the basic crux of the matter is that if I know v q plus j v d.  So, just so what we get from this is that if I know this and I know this. So, if I know this and I know this I can get this, but remember I do not know delta remember I do not know delta. So, I cannot actually find out what v d and v q is even if I know what theta is. Similarly, I cannot get e d and e q. So, what I do is a very interesting thing e f d I am multiplied by e raise to j delta. So, I will get v q plus j v d into e raise to j delta on both sides I just multiply e raise to j delta I multiplied by e raise to j delta. Now, the question is do I know this the answer is yes, because I know theta. So, just you can just try to prove that if I know v d and v q sorry if I know that v d and v q have this form v q plus j v d will e into e raise to j delta will simply give me what 1.0 and theta is something I know. So, what we have essentially is that I know this I also know this. So, if I know when I know this I mean I know this complete quantity here and I know the complete quantity here as a result of which I know this complete quantity. Now, this is a real number. So, if I take out the magnitude of this something I know and this is something I know I can take its magnitude and angle and equate it to this as a result of which I will be able to get e f d and I will also be able to get what delta is. So, the thing which is important to note is v q plus j v d e raise to j delta is nothing, but 1 angle theta. Similarly, actually if you look at the infinite bus voltage also it is very easy to show that this will be 1 angle 0 as per our initial situation which we have talked of. Similarly, i q plus j i d into e raise to j delta is nothing, but this minus this divided by j x. So, we know this complete term and this complete term we know the value of x q as a result of which we can back camp compute the equilibrium value of delta. So, you can directly get what the equilibrium value of delta is once you got the equilibrium value of delta. The next step is get i q plus j i d remember we know what i q plus j i d into e raise to j delta is what is that equal to 1.0 angle theta minus 1 angle 0 divided by j x. So, if I know delta I can actually find out what i q and i d are once I find i d and i q the next step is from i d you know this value the magnitude of this by equating these 2 compute e f d.  In fact, you can compute all the equilibrium conditions. So, what we have is let me just recapitulate what we have done it may have sounded a bit complicated, but it is not that as complicated as it sounds it will just recapitulate quickly. If e a n is this it means of course, that e d and e q are like this which also means e e q plus j e d e raise to j delta is nothing, but 1.0 plus j 0.0. Similarly, v a n is this so what you get essentially is theta is something you get from the condition that 1 per unit power is flowing through a reactance of x the terminal voltage here is 1 point angle 0 and the terminal voltage here is angle theta. So, this theta is obtained that way so once you have got theta the next step is of course, getting the equilibrium values of delta etcetera remember that once you have got theta you know this you do not know what delta is, but interestingly v q plus j v d into e raise to j delta is nothing, but a function only of theta. So, if you know theta you know v q plus j v d into e raise to j delta. So, this is how you get v q plus j v d into e raise to j delta i q plus j i d into e raise to j delta is nothing, but this. So, we get the values of i d and we can get because of this from this particular equation because we know this and this. And the value of this parameter x q we get this value that is the magnitude and angle can be obtained. So, we know the magnitude of this is equated to the magnitude of the left hand side the right hand side and left hand side magnitude equate. So, we know what e f d plus x d minus x q into i d is there after we also know from the angle of this what delta is once we get this delta we can compute we know what this is i q plus j i d into e raise to delta j delta we know once we know delta we can find out what i q and i d are. So, in that fashion we can get the equilibrium values of all the states corresponding to this situation where the terminal voltage of this is 1 the terminal voltage of the infinite bus is also the voltage of the infinite bus also is 1 p e is 1 also. So, we can back calculate all the values of states. So, that you get this particular situation once you have computed back calculated all the values of the states you can actually do a linearize analysis by plugging in the equilibrium values wherever necessary in the linearized state space equations. Once you do that one can get the Eigen values there is two little time for us to actually compute the Eigen values and I show you everything or the important points corresponding to these Eigen values. So, we will do that in the next class.


Hey everyone, this is Dan. In this video, I'll talk about the Overnight Reverse Repurchase Agreements, or ORR. The ORR, maintained by the Federal Reserve Banks, has grown from zero about 18 months ago to more than $2 trillion today. Yet, very few financial analysts have been talking about the ORR. In the July 29 FOMC press conference, with dozens of reporters asking Fed Chair Jerome Powell questions for more than 30 minutes, not a single word was said about the ORR. Why didn't anyone notice this $2 trillion elephant in the room? How does the ORR affect the stock market? I did some digging into the numbers and found something very important that I wanted to share with you. This is the ORR chart published by the San Luis Fed. As you can see, it went from zero in the beginning of 2021 to more than $2 trillion today. What exactly is ORR? According to the definition by the New York Fed, it is a reverse repurchase transaction in that the FOMC desk at the New York Fed sells securities to a counterparty subject to an agreement to repurchase the securities at a later date. Most importantly, reverse repo transactions temporarily reduce the supply of reserve balance of the counterparty. In other words, when an ORR transaction happens, the counterparty, which is a bank or another type of financial institution, receives securities such as U.S. treasuries from the Federal Reserve Banks. The counterparty then deposits money to the Fed. In my opinion, because the ORR transaction reduces the reserve amount of the financial institution, it has a net effect of reducing liquidity of the overall capital markets. Some people might argue that the money traditionally involved in the ORR transactions is the money that the financial institutions would have used for investing in money market funds, and therefore it does not impact the stock market. My opinion is that when the total ORR amount was small, that might have been the case. But when the total amount of ORR has grown to $2 trillion a day, and when the change of ORR amount is in excess of $60 to $70 billion a day on some days, the ORR transactions will most likely impact the stock market. I will show you the data in the next few minutes to prove my point. The Fed total assets and quantitative tightening or QT have been catching a lot of attention lately. How is ORR related or not related to the Fed total assets? This is a copy of the Fed balance sheet published on November 2021. On the total assets side, we see the securities in the Federal Reserve Banks, which is what we expect. On the liabilities side, we see an entry for reverse repurchase agreement, or ORR. During that time, the ORR totaled only $210 billion since then has grown 10 times larger and has exceeded $2 trillion today. This is a chart showing the movement of the SPY ETF since the middle of March. The SPY ETF mimics the movement of the S&P 500. During the time between April 18 and April 20, because of the change in ORR, the Fed reduced $159 billion of liquidity from the market. Soon after that, we see a significant market drop. After the market drop significantly on April 21, the Fed added $101 billion of liquidity to the market by way of ORR between April 21 and April 22. After that, the market stabilized. Then between April 25 and April 29, ORR took out $141 billion of liquidity from the market. Soon after that, we see the market drop. And between June 7 and June 14, ORR reduced $183 billion of liquidity from the market. Not surprisingly, the market dropped quickly during that period. The Fed then added $104 billion of liquidity back to the market by way of ORR on June 24. Then we see the market rebounded on June 24. The market has been recovering since the middle of July. So what's been happening with ORR since the middle of July? I will talk about that in the next few minutes. If you like what you've seen so far, I'd like to encourage you to click the like, subscribe and notification button. It'll enable you to receive notification when I publish my next video. It'll also encourage me to create more videos like this in the future. Thank you very much. Let's continue. I've got a lot of interesting stuff to cover. This is a good time for us to look at the Fed total assets. As we can see from this chart published by the same with Fed, the Fed total assets have been decreasing since the middle of March, which is part of the quantitative tightening or QT process announced by the Fed since the beginning of the year. Let's look at the year-to-day SPY chart again. Based on the weekly data published by the Fed, I've drawn this chart showing the change in market liquidity due to ORR and due to Fed total assets. As you can see, the market liquidity has been reduced by about $600 billion since the beginning of the year. Here again, it's a year-to-day SPY chart. I'm now going to superimpose the liquidity effects of ORR and QT. Can you see the pattern now? When there was a significant reduction of liquidity from the middle of March to the middle of June, the market dropped quickly. Since the middle of June, the Fed has not reduced market liquidity much and the market started to recover. From March 16 to today, QT has taken out $75 billion of liquidity from the market. During the same period, ORR has taken out $562 billion out of the market. In my opinion, the effect of ORR is almost 8 times greater than the effect of QT in the last few months. That is what the $2 trillion elephant has been doing to the stock market. Now you might agree or disagree with what I've been saying here. Not that many people understand ORR, I'm sure this will be a very controversial subject. Hopefully more financial analysts and reporters will be asking and talking about ORR in the next few weeks so that there will be more transparency and understanding of how the Fed policies affect the stock market. As usual, I will very much welcome your comments, questions and suggestions. Thank you for watching all the way to here. I'd like to remind you that I'm not a financial advisor. I share my stock trading strategies and analyses for educational and entertainment purposes only. If you want to buy or sell stocks, you should make your own decisions and you should definitely consult with your financial advisors before you do so. This wraps up my video for now. I will chat with you again in the next few days. In the meanwhile, I'd like to wish you the very best of luck with your financial investments.


In this final video for section 1.2, we're going to learn how we can solve linear equations over finite fields, particularly using this modular arithmetic. Now we learned earlier that in order to solve a linear equation, we have to have all ten of the field axioms. Those are the axioms I guarantee that we can do addition, subtraction, multiplication, and division in the usual manner. Now this modular set, Zn, that we've been learning about, it can be a field so that modular addition, subtraction, multiplication, and division are well-defined. A lot of the times, but there is one extra stipulation. It turns out there's no problem with the addition, subtraction, multiplication. But the technique we learned about being able to simplify modular fractions only is going to work when the modulus is prime. So Zn here is only a field when the modulus is a prime number. So in this course, we're going to nearly exclusively talk about Zp, where p is a prime number, when we do a finite field. Because, again, in order to do linear algebra, we need a field and a general number n doesn't exactly work. You can see in the homework questions some explanation of what goes wrong if you have a composite number instead of a prime. But with that assumption, let's work over some finite fields and solve the associated linear equations. So if you want to solve the equation 2x plus 1 is congruent to 6 mod 13, we can go about solving this. Since 13 is a prime number, we can solve it using the field axioms. We're going to subtract 1 from both sides and get 2x is congruent to 5 mod 13, 5. There's no reason to reduce whatsoever. So we're going to divide both sides by 2 and we get that x is congruent to 5 halves. Now, in order to, we want, we have to get a number between 0 and 12 as our final answer. So we need to simplify the modular fraction 5 divided by 2. 2 doesn't divide into 5, so instead we're going to replace 5 with 5 plus 13. 5 plus 13, of course, is 18. 2 does go into 18 there, in which case we get 9 as our final answer. And so that gives us the solution. And we can check our solution by plugging it back into the original equation. Notice if we take 2 times 9 plus 1, this would equal, 2 times 9 is 18 plus 1. Notice 18, we can add 1 to it. We can reduce the 18 now or we can do it later. Adding 1's not too problematic. This would give us 19, which of course, if you take 19 minus 13, this is 6 again. And thus verifying we found a solution to the linear equation. Let's take another example. 3x plus 5 is congruent to 1 mod 7. 7's a prime number, so this would be solving a linear equation over a field. We'll subtract 5 from both sides, in which case we get 3x is congruent to negative 4 mod 7. And so if we wanted to, we could then proceed to solve for x by taking negative 4 over 3. That's a great option. We could try to simplify that fraction. But also as negative 4 is not inside the scope of 0 to 6, we actually could just replace it by adding some multiple of 7 to it. This would give us a 3x is congruent to 3, right? And this is a great observation because in this case then, we're trying to compute 3 over 3, which is going to be a 1. So since the numerator was genuinely divisible by 3 from the get-go, we can then, we don't have to replace the numerator. But if the denominator doesn't divide into the numerator completely, we can just replace the numerator with some integer congruent to it with respect to the current modulus and then simplify the fraction in a usual manner. And so with these ideas of modular arithmetic in hand, turns out solving a modular equation is really not that different than solving a linear equation over the rational field. It's just the arithmetic is a little bit different because of the modular reduction there.


I hadn't had an opportunity to really appreciate the extent to which librarians at universities are kind of both aware of the whole university, the post-secondary context, in ways that I think that maybe some of my other academic colleagues are not. Librarians who seem to understand themselves as participating in a system. So a system of libraries, a system of universities, a system of a sector, I mean they understand that they're involved in systems. And so they may be critical about the decisions, but they don't let that get in the way of, you know, moving on. Because the process has moved sort of so carefully from region to region to region and then bringing these different kinds of people together so that you have, on the one hand, every individual group comes up with something and then the groups are connected. So there's a bit of a, I don't know what you call this, probably a word for a spiral or something. It means that I think the research librarians themselves and the association will have a lot of confidence that the framework has been informed by a lot of participants within the community and that it then is distilled in the kind of a common language that when used, you know, begins to kind of gain traction itself just because of repetition. And it gives people, I think it gives people a lot of confidence when they can say, this is what I believe, and I'm not speaking for the organization, but I know that, you know, like I can draw upon this language and this commitment that the organization has made to these strategic directions and these are good for us because. So I think it's a good tool for strengthening positions locally, but also enhancing people's capacity to create a language that is going to resonate like a little echo or not not an echo, more like maybe skipping a stone on a pond that there would be ripples and the ripples themselves add up so that when somebody hears this, they go, oh yeah, I've heard that before. So it must be, you know, gives it more gravitas. Well, I've participated in sort of two parts of the process so far. The first part was the kind of open session with Anne at the ARL meeting. I'm sorry. And, you know, I think, like a lot of my colleagues at the time, my reaction was, well, this is kind of interesting, but I don't know. She's kind of from a different, coming from a different world and I don't know how much she really gets our world and blah, blah, blah. So then I went to the design, well, it's not actually a design workshop. I guess it was the meeting that was at USC with Elliott and with Anne. And I actually left that meeting thinking, okay, this is really interesting. The process was interesting. Elliott's engagement was really nice to see. I mean, he's truly engaged in the process. Anne is the kind of person who can kind of elicit a lot of commentary from you without injecting herself much as a commentator into the process, which I think is really good. So we ended up actually having a really interesting conversation. And so I left that session thinking, okay, this is really interesting. And it'll be interesting to see in, I guess, six, eight months time what the result is. I was actually really struck and I'm sure she had expected this. The visions, I want to say, maybe there were six of them or something like that, that the groups articulated were actually very overlapping, which I thought was kind of interesting. So clearly, at least those people in that room, and it was a mix of ARL directors, directors who are not from ARL libraries, AULs from ARL libraries and non ARL libraries, some museum people, really abroad, some special libraries people. And we all kind of came up with the same vision. It was actually very interesting. One of the best aspects of an exercise like this is not to come up with a plan necessarily, but to provide a foil for continued conversation. Because I'm not confident that we're going to have a definitive plan. And I've also been a big fan of, I believe it's a statement that's attributed to Eisenhower, that though something like plans are nothing, but planning is everything. And the idea there, of course, particularly in today's world where things move so quickly is that having a plan is good just for a brief period of time. I have spent a lot of my professional career working in technology areas. And the planning horizon, the number of years or months over which you can feel very confident that you can predict what's going to happen. I've watched Trink from five years to two years to probably about two months now. So that speaks to the value of having a plan. You're going to have to replan every two months. But the act of planning is important. It causes people to think together. It causes them to articulate what they believe is important, causes them to explore new ideas and new ways of thinking. And it's good to have a starting point. Anyone that's ever written anything knows it's very hard to produce the first draft, but it's much easier to be an editor. And I think that we're in the act right now attempting to produce a first draft of something that will articulate a set of values and challenges and ideas and directions. And maybe at the end of this, no one will be able to say, aha, we've discovered exactly what we should do for the next 100 years. But there will be something that people can debate. And folks can say what they like about it and what they don't like about it. And that all by itself will be very, very valuable. There were seven elements that I would mention in this call that I've learned from collaboration. One, of course, is that the collaborators need to trust each other. And stronger the trust fabric or the trust environment, the more effective the collaboration will be, the faster and more agile it will be. If trust doesn't exist natively, then one needs to do things to build trust. And there's all sorts of techniques, contracting techniques and governance techniques, but trust is important. Constancy of core purposes will come back to that value again. It's easy for collaborations to get derailed, to go off on tangents, or to waste effort and waste time. And nowadays time is increasingly of the essence with a lot of these projects. So it's important for the project to be well managed, well executed. So it stays on track, achieves what it's supposed to achieve. And part of the trust fabric among the collaborators has to include the ability for one or more collaborators to tell another one that they're just on the wrong track. They're not thinking properly and we need to get back on track. The third one I'd mention is a concept of fairness. And fairness doesn't mean equity. It doesn't mean everyone needs to be treated the same in the collaboration, but everyone should be treated it with a sense of fairness. Solid design principles and execution, I guess I mentioned that already. Again, collaborations require an effort premium. And what I mean by that is it's much easier to do something all by yourself than it is to work with someone else to achieve the same thing. You have to communicate more, you have to think ahead a little bit more when you're working with others. And that's an effort premium that goes into collaborating that's hard. So anything else that makes the collaboration even harder will wear out the patience of the collaborators more rapidly. So keeping it, having good management, good project management in the collaboration is very important because it keeps everyone, keeps everyone's energy level up, it keeps everyone's expectations for a positive outcome up. Another thing that my former CIC, CIO colleagues and I told each other at a certain period of time, this is maybe almost 15 years ago now, but we said, look, we're not going to compete with each other. We're not going to try to outdo each other because quite frankly that's a waste of our local institutional resources. We began to talk about the purpose of our work together as being to build capacity. And then if we build greater and greater capacity and build capacity together that we could not have built by ourselves, then our faculty, our students back home at our home institutions, they could compete like crazy with each other. And they do better at that. In fact, they all do better at that because the capacity to do work had been increased. So I think in a lot of these cases, and this will be true about research libraries. Research libraries love the ARL rankings. They love to know who's better than the others. And in a solid collaboration, I think preserves the capacity for the collaborators to compete, but to compete in the right space and collaborate in the right space. The second to last thing I'll mention is coalitions of the willing. So a lot of times collaborations rise out of ready-made communities like the ARL membership. And maybe you have, just use round numbers, 100 members. Well, that doesn't mean that you have to wait to get the agreement and consent of all 100 members in order to tackle a project. There's the notion of a coalition of the willing that if you've got a critical mass that can make a project successful, you can launch it, you can get it off the ground, get it moving. Sometimes that's all it takes to begin to aggregate more collaborators. When people sitting on the fence might be concerned about getting involved in something that may not go anywhere. But once they see it going someplace, it also makes it easier for them to join. And also by that time, the purposes, the goals, objectives have all been clarified and articulated better. And they're easier to understand so then other collaborators can join. So the idea of not having to bring the entire community along can be a powerful one. It is one that has some risk, of course, because you can have a minority, I suppose, of any community have a harebrained idea and want to go off with it. But that's where maybe one I didn't have on my list of openness is important. These things shouldn't be done in secret societies. If they're open, then others can judge their validity of the effort and decide whether they should join in. And then the final one on my list, and I'm sure there's dozens more. But one of the other lessons I've learned is it's important in the coalition to have institutional commitment to collaborate as opposed to just the commitment of a single person. So I've watched some higher ed collaborations in particular where you have one of the collaborators is an institution with great reputation and great resources and they're really helping out. And then all of a sudden one person, the one central figure from that organization retires or changes jobs, and all of a sudden that institution is gone from the collaboration. And that happens when there's the collaboration is being driven through the commitment of that individual who may have the internal power and authority to make certain things occur. But if they haven't engaged the commitment of other leaders in the same organization, then the institution itself is not committed. So I've learned that it's important that collaborators challenge each other to be sure that their institutions are the ones that are collaborating. And it's not just the one person that's got a strong personal belief that this is a good thing and we want to make it happen because you just don't know what will happen with that individual. Their commitment may be strong for as long as they can make it. But again, if they change jobs or do the kinds of things that happen normally in life, then suddenly all of the resources that they represent might vaporize. And that can be very disruptive in collaborations because collaborations are often built again to achieve critical scale. But then you don't try to go much bigger than that at first because the larger the number of players the harder it is to manage the field of play. So a lot of times collaborators try to constrain the total scope of collaboration, but then that introduces a degree of fragility into the collaborative effort.


Hi, I'm Tim Evans. I've just begun my PhD in environmental science. For this research, we'll be drawing our knowledge primarily from country. So my research is going to be looking at ways that we can connect this deep living knowledge and wisdom to modern scientific and social practices. So the problem is we've harvested all of this fossil carbon and we've put it up in the atmosphere and it's heating up the planet. Plants have the unique ability to capture carbon out of the atmosphere through photosynthesis. If the carbon that forms the bodies of these plants goes through the charring process and we bury that char in the ground, it greatly enhances the whole ecosystem's ability to grow more plants to capture more carbon and you get this flow-on effect. So you want to give this knowledge to everybody so that we can all start giving back to the earth more than we're taking. I'm very grateful for the scholarship funding that is allowing me to carry out this research. Without this sort of funding that's been made available to me, this research wouldn't get done. I started working on this project 12 months ago and just been doing it on a volunteer basis, so yeah, I was just so keen to just get further into it with the help of that funding. This scholarship funding is going to allow me to focus on this research for the next three and a half years with living costs and getting around, conducting experiments and with other tuition costs too. I'd like to thank everybody who's involved in scientific research, from the donors of this PhD to the universities, to the traditional custodians of the land. Together we could all make a much brighter future.