Clergy

Clergy (pronounced klur-jee)

The group or body of ordained persons in a religion, as distinguished from the laity (the non-ordained); applied especially within Christendom.

1175–1225: From the Middle English clerge & clergie from the Old French clergé (learned men) from the Late Latin clericātus (office of a priest) from clericalis & clēricus (one ordained for religious services), from the Ancient Greek κληρικός (klērikós) (of the clergy).  It’s from the Old French clergie (from clerc) in the sense of “learned men, skilled in the arts of erudition, writing and transcription” that the modern English clerk evolved, the meaning "pertaining to clerks and copyists" dating from 1798.  Clericalism sacerdotalism (power or influence of the clergy) is from 1849, very much in the spirit of the European revolutions of 1848; clericality (quality of being clerical) is from the 1650s.  Clergy, clergyman, clergywoman and (the very modern) clergy person are nouns and the adjectives adjectives clergylike, anticlergy and proclergy (all sometimes hyphenated) were in well-known during the centuries when church and secular forces contested control of British and European; the noun plural is clergies.

The legal doctrine benefit of clergy was formalised first in the 1510s and was the exemption of ecclesiastics from certain criminal processes before secular judges although in England it had been first recognized in 1274; over time it was gradually restricted being abolished finally in 1827.  Special deals for English clergy were nothing new.  The Rosetta Stone, the granodiorite stele created in Egypt in 196 BC and re-discovered in 1799 (which became the key to deciphering Egyptian hieroglyphs) included a degree granting tax-breaks to clergy, rights which in various jurisdictions persist to this day.

Clergyman was a familiar term from the thirteenth century but the more rare clergywoman was unknown until the 1670s and then just as a general descriptor of nuns.  It wasn’t until 1871 it could refer to a "woman pastor, woman of the clerical profession" but in between, it was used humorously (and disparagingly) about the domineering wife of a clergyman, an idea Anthony Trollope (1815-1882) used to great comic effect when writing of the bishop’s wife in the Chronicles of Barsetshire (1855-1867).  Clergess (member of a female religious order) was attested from the late fourteenth century; clergy-feme (clergyman's wife or woman) was first noted in the 1580s.

Church of England (and worldwide Anglican) clergy

A clergyman.  Cosmo Gordon Lang (1864–1945), Archbishop of Canterbury (1928–1942).

In the Anglican Church, there are in excess of two-dozen titles before one even reaches then levels of the right reverend and very reverend gentlemen but despite the extraordinary proliferation of styles and titles within the Anglican clergy, under canon law, there are but three types of ordained person: a bishop, a priest, and a deacon.  With very few exceptions, the people who hold other offices and titles will always be (1) a bishop, (2) a priest or (3) a deacon, with their other title(s) overlaid atop their primary appointment.  There doesn't seem to be any theological justification for all this ecclesiastical bureaucratization but as those who study organizational behavior have often noted, structures once established can quickly become established tradition and assume their own inertia.

Bishop

A member of the clergy who has been commissioned to oversee the work of a group of congregations and the priests & Deacons who serve them; that group of congregations is called a diocese.  Only a bishop may ordain persons to the order of deacon and priest; only a bishop may also ordain (also called a consecration) another bishop, but must do so in the company of other bishops and a bishop must have been previously have been ordained a priest.  In the Church of England, twenty-six bishops (The Lords Spiritual) sit by historic right in the House of Lords, the UK parliament’s upper house.

Priest

A member of the clergy who has been commissioned to preside at gatherings around the Lord’s Table (the Holy Communion) and to extend assurance of God’s forgiveness to those who truly repent of their sins.  A person who is a priest must previously have been ordained as a deacon, and continues to be a deacon throughout his or her life as a priest.  A few churches now use presbyter for this order.

Feminist Lindsay Lohan in habit with Smith & Wesson .500 Magnum in Machete (2010), makes a persuasive case for the ordination of women in the Roman Catholic Church.  In the Anglican communion, there are now even women bishops although some reactionary dioceses such as Sydney restrict women to the diaconate (ie deacons) where they may assist "real" priests although their exact role can vary between parishes.  The Sydney diocese, where there's still a hankering for popery, refuses to ordain women as priests and bishops.

Deacon

A member of the clergy who has been commissioned to proclaim the Gospel, assist at the Holy Communion, and to call the church, by word and example, to its ministry of service and healing.

Archbishop

A bishop who presides over several dioceses in a large region, a position which includes some supervisory responsibilities over both dioceses and bishops in that region.  In the Church of England, the Archbishop of Canterbury is the (nominal and spiritual) head of the worldwide Anglican Communion.

Archdeacon

A member of the clergy appointed to assist the bishop in certain administrative and pastoral duties in a diocese.  An archdeacon may administer a district comprising a group of parishes which is usually known as an Archdeaconry.  Despite the name, there is now no direct connection with the order of deacon, and an archdeacon is generally one of the priests of a diocese.  The position and title normally expires upon resignation or retirement, although certain retired archdeacons in good standing with their bishop often retain the title.

Aspirant

A person who has indicated to the bishop that he or she hopes to be ordained and is in the preliminary interview process.  Once the bishop has formally accepted their candidacy, the person is called a postulant.

Bishop-elect

A person chosen to become a bishop, but not yet consecrated; the word elect simply means chosen.  Anglican bishops are selected by a variety of means: some are elected by the clergy and laity of the diocese where they will serve, but some are selected by a specially-constituted committee (often called an Electoral College).  In England, historically, bishops were personal appointments by the monarch; now the sovereign appoints on the recommendation of the prime minister.  This process has not been without the odd hiccup.  Once, Lord Salisbury (1903; UK prime minister for thirteen years variously 1885-1902), as was the usual practice, received from the Archbishop of Canterbury the name of the two clergymen he had considered for appointment to a vacant bishopric.  Unfortunately, the spellings of the two names were similar and the prime-minister inadvertently sent to the palace the wrong name.  After the gentleman was enthroned he was informed of the error and remarked: "Oh, I daresay he will do just as well".     

Canon

Canon is an honorary title conferred upon a member of the clergy (and some lay persons) for faithful and valuable service to the church.  The standard joke in church circles is it's hard to find men of sufficient calibre to fulfil the role and once appointed, they should never be fired.

Chaplain

A member of the clergy whose employment is not in a parish or congregation, but who undertakes pastoral care and organizes worship services within a non-religious organization such as a school, hospital or the military.  There are a few special appointments where a chaplain may be a spiritual advisor and personal assistant to a bishop or a monarch.

Coadjutor

A bishop who has been appointed to assist a diocesan bishop.  Generally, a Coadjutor automatically becomes Diocesan in his or her own right, upon the retirement or resignation of the person currently in that office.

Commissary

A person appointed to exercise the administrative functions of a bishop, when the actual bishop is away from the diocese or otherwise indisposed.  A commissary may not perform any of the spiritual functions of a bishop, such as ordinations and the appointment is inherently temporary, the role expiring immediately upon the bishop’s return.

Curate

A deacon or a priest who functions as an assistant or subordinate to the Incumbent of a parish.  The word curate refers to the cure or care of souls, and while the word does suggest a primary and senior responsibility (indeed, in a French-speaking Roman Catholic Church the senior priest of a parish is called a curé), in the Anglican Church, a curate is always an assistant.

Dean

The most common meaning of this word in Anglicanism is “a priest who is the Incumbent of a cathedral, and the most senior priest of a diocese (under the bishop)”.  This title is not to be confused with academic deans and there are other Anglican officials with dean in their titles (such as Regional or District Dean) and their most familiar role is as the administrative heads of cathedrals.

Diocesan

A bishop in charge of a Diocese and it’s correct to say either the Diocesan or the diocesan bishop when referring to this office.  The Diocesan may also be referred to as the Ordinary.

Honorary (somethings)

An Honorary Assistant or Honorary Curate (and a few other variants) indicates an ordained person who functions as one of the clergy in a parish, but does so on a voluntary basis.  He or she may have other employment, or be retired from full-time paid ministry, but will preach, preside, or do pastoral care in the parish without receiving a living wage for it. The position is almost always official, formally designated as such by licence or certificate from the Bishop.  In this, honorary appointments in the church essentially mirror academic practice.

Father

Father is not actually a title, simply a form of address, a kind of courtesy title.

Incumbent

A technical term for a member of the clergy who has primary administrative, pastoral, and liturgical responsibilities in a parish or congregation.  Despite its official nature, this term is seldom used in conversation, and is often unknown among ordinary church members, who will usually refer to their Incumbent as the Rector.

Lay Canon

A non-ordained person who is given the honorary title of Canon, usually as a form of recognition for their leadership in some aspect of the church’s life.

Metropolitan

An archbishop who presides over a region of the church which may include several dioceses, bishops, and even archbishops; second only to a Primate in authority and responsibility.  Some Metropolitans are also Primates, and are officially described as Primate and Metropolitan.

Ministry Developer

In congregations and districts where the traditional clergy tasks (preaching, pastoral care, presiding etc) are divided up and done on a voluntary basis by different individuals (some ordained, some laity), the team leader is often given the title Ministry Developer.  This person is most often ordained and seminary trained, but need not be, provided only that he or she is good at enabling teamwork and communicating a rich sense of the church’s mission.

Ordinand

A person in the process of being ordained; preparation having been accomplished, the title exists only on the day of ordination.  Before, during, and after the liturgy, the brand new deacon or priest is correctly called an ordinand.

Ordinary

In a diocese or jurisdiction where there are a number of bishops, one of them always holds primary authority, and is called the Diocesan or, in some jurisdictions, the Ordinary (always with an uppercase O).  The etymology of ordinary in this context is murky but may relate to this person’s responsibility for deciding who gets ordained.

In the Anglican Church of Canada, a bishop who directs Anglican chaplains in the armed forces is also called the Bishop Ordinary.  This person is not assigned to any particular diocese and the duties of a Bishop Ordinary cross many diocesan and even national boundaries.

Parson

This is now an almost colloquial term applied to a member of the Anglican clergy.  Historically, in England it was an official designation for a salaried priest in charge of a parish.  The word derives from the Latin persona from which also is derived the very generic “person.”

Pastor

Although not a formal title in the Anglican Communion, some clergy find it acceptable, because it’s more widely understood than Rector or Incumbent.  Pastor means shepherd, and is quite suitable to use for any priest who has pastoral responsibilities.

Postulant

A person who has been accepted by the bishop as a candidate for ordination and is in the process of being trained.

Prebendary

An honorary canon, a title used almost exclusively in the UK.  Historically, in England, a prebendary was a member of the clerical staff of a cathedral or collegiate church; a paid position whose income derived from specially allocated rents of land administered by that church, the properties generating such rents was called a prebend.  Although prebend-based income is now rare (some claim it’s extinct) the honorary title of prebendary is still England.

Precentor

A person, usually a member of the clergy, who is responsible for organizing the liturgy and music of a large church (such as a great cathedral).

Presbyter

Another word for priest, both from the Ancient Greek πρεσβυτερος (presbuteros) (church elder).  There are dense theological arguments surrounding these words and while all official Anglican documents and ordination liturgies use priest, there are some places in the church which use presbyter to refer to this order, the second of the three basic Anglican orders.

Priest-in-Charge

A person who has the responsibilities and duties of an Incumbent, but on a temporary basis, the appointment always at the discretion of the bishop.

Primate

A bishop who presides over the Anglican Church in a large region, or even in an entire country.  There will be many dioceses, bishops, and occasionally some archbishops under a primate’s supervision.  The person who holds a comparable position in Scotland is called Primus and, in the US, the equivalent position is the Presiding Bishop.

Provost

Provost has many meanings in English, used also to refer to military police or the principal of a university college.  When applied to a member of the Anglican clergy, the word refers to a priest who is the Incumbent of a cathedral church.  The more common word for this position is Dean, but in Scotland, Kenya and some smaller countries, the correct title is Provost.

Rector

A priest who has primary administrative, pastoral, and liturgical responsibilities in a parish or congregation; similar to and sometimes identical with an Incumbent.  Some heads of academic schools are also called Rector but such officials need not be ordained, or connected with the church.

Regional bishop

A bishop in a large diocese who is one of several bishops, each having oversight over a specific geographic area of parishes and clergy within that diocese.  This person may be a coadjutor or a suffragan, or even the Diocesan.  Technically, regional bishops can function anywhere within the diocese, but they have a closer relationship with and more detailed knowledge of their particular district.

Regional Dean

A priest who has some pastoral and administrative oversight of a small group of parishes or congregations.  This position has less weight than that of an archdeacon, so there can be several regional deans in an archdeacon’s area of responsibility.  A regional dean is generally an Incumbent of one of the parishes in his or her Deanery.  The titles Rural Dean and District Dean refer to exactly the same function and of the three Rural Dean is probably the oldest but is falling from use as the worldwide trend of urbanisation continues.

Suffragan

A bishop who has been appointed to assist a diocesan bishop (the Ordinary).  In contrast to the position of Coadjutor, a Suffragan is not automatically the Diocesan’s successor.

Transitional Diaconate

A category of clergy who are ordained deacon in preparation for being ordained priest.  Clergy in the transitional diaconate tend to spend up to a year serving as deacons, after which ordination to the priesthood takes place following further review and inquiry.

Vicar

This has slightly different meanings in various parts of the Anglican world.  In England, a vicar is a salaried parish priest whereas in the US, they’re a priest responsible either for a mission or for an institutional chapel (a mission is a congregation that is either recently founded, or is not capable of being financially self-sustaining; a chapel is a place of worship in a hospital, or an airport, or a government building).  In many places the word vicar can be used for a priest who is acting in behalf of a senior official who is not present (similar to the English word, vicarious). 

Vocational Diaconate

A category of clergy ordained as deacons who intend to remain so for the rest of their lives, without being further ordained to the priesthood.  The role exists to provide for those who feel their vocation to be that of ministry and service, rather than presiding.

Treasure

Treasure (pronounced trezh-er)

(1) Wealth or riches stored or accumulated, especially in the form of precious metals, money, jewels, or plate; wealth, rich materials, or valuable things.

(2) A thing, beast or person greatly valued or highly prized.

(3) As the verbs treasured & treasuring, carefully to retain or keep in store, as in the mind; to regard or treat as precious; cherish; to put away for security or future use, as money.

(4) A term of endearment in the sense of “cherish” (archaic).

1125–1175: From the Middle English tresor, (displacing the native schat) from the Old French tresor (treasury, hoard, treasure (trésor in Modern French)), from the Gallo-Roman tresaurus, from the Latin thēsaurus (storehouse, hoard; anything hoarded (source also of Spanish & Italian tesoro)), from the Ancient Greek θησαυρός thēsauros (store, treasure, treasure house) (related to tithenai (to put, to place), from a reduplicated form of the primitive Indo-European root dhe- (to set, put).  In Middle English there was also the spelling thresur, the modern spelling is from the sixteenth century.  It replaced the Old English goldhord & maðm and the meaning extended from hoards of precious metals etc to a general sense of "anything valued" from circa 1200.  The verb emerged in late fourteenth century Middle English, a derivative of the noun.  It meant literally "to amass treasure; to store up for the future" but was used also in the figurative sense as "regard as precious, retain carefully in the mind" from treasure.  The first recorded treasure hunt happened in 1913 a relatively modern alternative spelling was the now almost extinct treasuer.  Treasure is a noun & verb, treasurable & treasureless are adjectives, treasury, treasurership, treasuress & treasurer are nouns, treasuring is a verb and treasured is a verb & adjective; the noun plural is treaures.

The noun treasurer was from the late thirteenth century, from the Old North French & Anglo-French tresorer & and the Old French tresorier, from tresor.  The noun treasury (a room or vault in which to store and safeguard treasure) dates from circa 1300, from the eleventh century Old French tresorie (treasury), from tresor.  The meaning "department of state that controls public revenue" was recorded from late the late fourteenth century and the first treasury bill was issued in 1797.  An Old English word for "room for treasure" was maðm-hus and for "treasury", it was feo-hus (connected to the modern fee).  There is a connection with the noun hoard, from the Old English hord (a treasure, valuable stock or store, an accumulation of something for preservation or future use and hence "any mass of things preserved by being deposited together," from the Proto-Germanic huzdam (source also of Old Saxon hord (treasure, hidden or inmost place)).  It was cognate with the Old Norse hodd, the German Hort and the Gothic huzd (treasure; literally "hidden treasure"), from the primitive Indo-European root (s)keu- (to cover, conceal).

T-Paper

US Treasury Building, Washington DC.

T-paper (Treasury-paper) is the collective term for securities issued by United States Treasury.  The US Treasury Department sells bills, notes, and bonds at auction with a fixed interest rate.  When demand is high, bidders pay higher than face value to receive the interest rate.  When demand is low, they pay less, thus the yield declines as the price rises; at times of crisis, yield drops as investors seek security at the expense of income.  T-paper gained the name from being once issued on physical paper or cardboard) but are exist in now digital form and are also referred to as “Treasurys”.

1864 US $100 three-year treasury note (6% annual interest rate, compounded semi-annually, payable at maturity); a bearer-bond, paid over-the-counter, to whomever held the physical paper.  

Although physical paper is no longer much associated with T-paper, a linguistic legacy persists in the “coupon stripping” market.  There’s long been a secondary market for T-paper, one flavor of which is where the interest and principal components have been separated, or "stripped" so they may be re-sold as separate products.  The name is derived from the days of paper and cardboard when traders literally would separate the paper interest coupons from the paper securities.  In the secondary market, the two pieces of paper than became independent retail items, one yielding interest, the principal re-sold as a zero-coupon bond.  The correct name in the digital age is Separate Trading of Registered Interest and Principal Securities (STRIPS).  STRIPS, more than some other products, reflects the dual role of the Treasury as both regulator and participant in the financial gambling market, not itself an issuer of STRIPS (that part of the market reserved for brokers and the non-retail arms of banks), instead the maintaining the transaction and ownership register.

1976 US $5000 ten-year treasury note with 8% rate.

The difference in types of T-Paper are defined by the length of the term: the time until the bond the matures at which point it is repaid.  All T-paper are really bonds, the nomenclature just part of the jargon of the industry.  Treasury Bills are issued for less than a year, Treasury Notes for 2, 3, 5, and 10 years and Treasury Bonds for 30 years.  Still unconfirmed is whether recent discussions by Treasury about longer-term bonds will be pursued although demand seemingly exists, fifty and even hundred-year bonds mentioned.  There has been speculation about the demand which, given the amount of money said now to be “sloshing around” the system, wasn’t unexpected and the large holdings of various sovereign wealth funds may also find the longer terms attractive, for reasons political as well as fiscal.  It anyway represents one school of thought on what to do about the money supply. 

A more recent creation is the Treasury Inflation-Protected Security (TIPS), bond, the principal of which is indexed against inflation using the Consumer Price Index (CPI).  As the CPI rises, the principal is adjusted upward; if the index falls, the principal is adjusted downwards, the coupon rate remaining constant, but generating a different amount of interest when multiplied by the inflation-adjusted principal.  This has the effect of protecting the holder against the inflation rate as measured by the CPI.  The current version of TIPS was created in 1997 and is offered with five, ten and thirty year maturities.

Spikes and waves:  US T-Note yield against inflation projections and outcomes with events noted, 2000-2020.

Inflation-indexed bonds became common in government bond markets in the late twentieth century, many emerging in the inflationary environment which followed (1) the distortions in US government spending the 1960s, (2) the structural changes to the Bretton-Woods system in the 1970s  and (3) the consequences of the oil shocks in the same decade; they’re essentially a form of hedging.  In the orthodox bond market, even those issued for long terms promise the holder a fixed dollar (or whatever currency) income flow for the term of issue.  That contrasts with the outgoings of an individual or corporation because prices tend quickly to adjust to external changes and unexpected changes can increase the general level of prices, altering the real purchasing power of money which is a risk to both holders and issuers of orthodox bonds.  The indexed bond substantially reduces this risk in that the lender’s receipts and the borrower’s payments become linked to movements in the general price level.

Lindsay Lohan attending the LA premiere of Treasure Planet, Cenerama Dome, Hollywood, California, November 2002.

Again, while used as a hedge, it is still a gambling market, the incentive for governments, beyond the political attractions of being able to offer the product, being the ability substantially to reduce borrowing costs  The UK government first issued indexed bonds in 1981 as a part of an attempt to reduce (it was actually an attempt to kill) inflation.  The markets however had noted the post-war performance of successive governments and were sceptical, holders of orthodox bonds, in effect, charging the government on the basis of an inflation rate substantially higher than the government intended the outcome to be.  This is how gambling works.  In issuing indexed bonds, simultaneously the government flagged a new seriousness in monetary policy and an intent to reduce funding costs by promising to compensate investors for high inflation only if inflation did not fall.  Unexpectedly, the government’s strategy proved successful and substantial savings in borrowing costs were realised.  The effect of the increase in the money supply induced by the COVID-19 responses will ultimately produce higher inflation because, unlike the restorative measures in the wake of the global financial crisis (2008-2011) which essentially gave money only to the rich, greater disposable income was gained more widely.  If the inflation is sustained or (in response to new, unexpected events) spikes, New Zealand's approach (which included products actually marketed as "inflation-proof bonds") might be re-visited.   

The New Zealand experience was different but the small size of the market, while making it an interesting and manageable thing for modelers and analysts, does mean caution must be taken if attempting to apply that experience at scale.  The NZ government issued inflation-adjusted government securities between 1977-1985 and, in a period of historically high inflation, they were popular, eventually accounting for some 15% of domestic debt on issue.  Post-war NZ had evolved into what is possibly the West’s most extreme example of an open political system being combined with a highly regulated economy and that did tend to work until the convulsions of the 1970s to which the NZ hybrid proved unable to adjust.  The adjustments were made after a change of government in 1984 and the inflation adjusted bonds offered by tender in 1983-1984 entered a market where the official inflation target was considerably lower than the buyer’s expectation.

New Zealand Consumer Price Index (CPI) 1970-2015.

Almost immediately, the new government ceased issuing indexed debt.  Perhaps paradoxically, the same credibility gap confronted the government in its own use of more orthodox methods to cut inflation.  Because it was expected the costs of selling long-term nominal bonds would be high, in 1986, issues longer than five years were suspended, the government making clear that would prevail until their inflation target had been met or exceeded.  The approach, while textbook correct, wasn’t without risk because, although shortening the term of a government’s nominal debt can be an appropriate response where inflation outcomes are uncertain, it does heighten the risk of higher costs when rolling-over maturing debt.  As it turned out, for one reason and another, some fairly brutal, inflation was tamed and in 1995, the government returned to the index-linked market.  Many countries created markets, Finland and some of the Nordic zone as early as 1945 and Israel ten year later.  A cluster of Latin American countries issued between 1964-1972 and a number of OECD nations followed the New Zealand and UK in the 1980s although the US Treasury wasn’t active until 1997.

Corporal

Corporal (pronounced kawr-per-uhl or kaw-pruhl)

(1) Of the human body; bodily; physical

(2) In zoology, of the body proper, as distinguished from the head and limbs.

(3) As corporeal, belonging to the material world (mostly obsolete except for historic references although still used as a technical term in philosophy).

(4) In ecclesiastical accoutrements, a fine cloth, usually of linen, on which the consecrated elements are placed or with which they are covered during the Eucharist (also called the communion cloth).

(5) In Christian theology, as the seven Corporal Works of Mercy, the practical acts of compassion, as distinct from the seven Spiritual Works (the contemplative acts).

(6) In military use, a non-commissioned officer ranking above lance corporal (private first class (PFC) in US Army) and below a sergeant; in the Royal Navy, a petty officer who assists the master-at-arms; similar use in the armed services of many countries.

1350–1400: From the Middle English corporall, from the Anglo-French corporall, from the Latin corporālis (bodily, of the body) from corpus (body), the construct being corpor- (stem of corpuscorpus) + -ālis (the third-declension two-termination suffix (neuter -āle), used to form adjectives of relationship from nouns or numerals, from the primitive Indo-European -li-, which later dissimilated into an early version of -aris).  The use describing alter cloths was derived from the Medieval Latin corporāle pallium eucharistic (altar cloth) and replaced corporas, itself inherited from Classical Latin under the influence of Old French.  The pronunciation is kaw-pruhl in military use and kawr-per-uhl for all other purposes.  The adoption by the military dates from 1570–1580 but the origin is uncertain.  It may have come from the Old French (via Italian) into Middle French as a variant of caporal, from the Italian caporale, apparently a contraction of phrase capo corporale (corporal head) in the sense of the head of a body (of soldiers).  Source was the Latin caput (head), perhaps influenced also by the Old French corps (body (of men)).  Corporal is a noun & adjective, corporality, corporalcy & corporalship are nouns and corporally is an adverb; the noun plural is corporals.

The strategic corporal

The idea of the “strategic corporal” was first explained in a paper published in 1999 by USMC (US Marine Corps) General Charles Krulak (b 1942).  Based on both practical experience and his analysis of the likely evolution of conflicts into localized, small-scale but intense theatres of operation, he described what he called the “three block war” in which the Marines could be involved in conventional fire-fights, peacekeeping operations and humanitarian aid, all conduced in a geographical area no bigger than three city blocks and undertaken either sequentially or, more challengingly, simultaneously and in an environment in which hostile, friendly & neutral forces are intermeshed.  The reference to the “three city blocks” was included for didactic purposes to illustrate his point that the training of military personnel needed to be refined better to encompass those required to make independent decisions, including the non-commissioned officers (NCOs) & junior officers actually commanding small numbers of troops on the ground.  Just as the term “three blocks” wasn’t a literal limitation but a way of illustrating a change of mindset from the traditional focus on divisional & brigade level deployment, the phrase “strategic corporal” was chosen because in the military that is the lowest rank at which a soldier is in command of others and thus in a position to make decisions which could have some strategic significance.  Typically, a “strategic corporal” might be a lieutenant who in modern warfare, must be trained to make major decisions without the benefit of direction from the chain of command.

The concept has been influential in many militaries and has been compared with the idea of the “man on the ground” doctrine which emerged in the nineteenth century when the early technologies of long-distance communication meant that for the first time it was practical for military commanders in remote locations to seek and receive instructions from perhaps thousands of miles away.  It would however be decades before those interactions habitually became real-time so the idea of the “strategic corporal” would not then have been unfamiliar and there was an at least tacit acknowledgement that the man on the ground would often be the one making critical decisions rather than anyone in the high command or even the headquarters staff in theatre.  This could of course mean a bad decision could theoretically trigger a war but as "the Fashoda Incident" (1898 and the retrospective re-naming of what was at the time in Paris and London thought of as “the Fashoda Crisis”) illustrated, the man on the ground having the necessary background and training to make a decision based on factors beyond what was militarily possible could have far-reaching consequences.

So the idea of the strategic corporal is that training in such matters needs to extend to the layers of command where such decisions need to be made, not to the point at which formerly they’re delegated or devolved.  In a sense that of course is a mere recognition of reality but the elevation of the concept into a doctrine has been criticized as becoming “mythologized within the military culture [and] forever associated with negative consequences”, the result of the ultimate responsibility for decisions being seen through legal filters, leaders now too “…concerned with the perceived risk..” and as a means to manage that “…senior leaders have elevated decision authorities far away from anyone but themselves”.

Military analysts have noted that military operations conducted in the Gaza Strip provide the perfect example of a “three block war”, one that has the potential to unfold as a series of “three block” theatres.  In these urban environments in which a civilian population co-exists still in high-density with paramilitary forces and irregular combatants, decisions taken by a soldier in direct command of fewer than a dozen troops in the invading army can have a strategic significance well beyond the particular three blocks in which they’re operating.  Complicating this is the suspicion expressed by some that a high civilian death-toll is actually an outcome desired by the Hamas (Hamas the acronym of the Arabic  حركة المقاومة الإسلامية (Ḥarakah al-Muqāwamah al-ʾIslāmiyyah) (Islamic Resistance Movement); HMS glossed in the Hamas Covenant (1998) by the Arabic word ḥamās (حماس) (which translates variously as “strength”, “zeal” or “bravery”)).  The evidence to support this is strong in that the nature of the attack staged by the Hamas on Israeli civilians on 7 October 2023 was of such a nature that retaliation by the Israeli Defence Force (IDF) would be bound to result in civilian causalities in Gaza; there are not effective alternative military tactics available, the choices being only to retaliate or not.

The idea used by Hamas is not new.  In 1942, the Czechoslovak government-in-exile (which in 1940 had shifted from Paris to London), had become especially disturbed by the success SS-Obergruppenführer (general) Reinhard Heydrich (1904–1942; head of the Reich Security Main Office 1939-1942) was enjoying as Deputy Protector of Bohemia and Moravia, a role in which he was effectively the Nazi’s “governor of Czechoslovak”.  Using the Nazi’s tradition method of governing conquered territories by “carrot & stick” Heydrich had not spared the stick early in his administration (1941-1942) but been remarkably successful with the inducements he offered and had achieved an unexpectedly high degree of cooperation with the local population.  With little signs of an effective resistance movement operating, the government in exile took the decision, in cooperation with the British Special Operations Executive (SOE), to send an assassination squad to Prague, knowing full well the retribution against the population would be severe but the object was to use that to stimulate local resistance.  More than a thousand Czechs were killed in revenge for Heydrich’s death.

So in the awful business of war, civilian deaths can be thought of as useful political devices, something which in Islamic theology is regarded as the noble sacrifice of martyrdom.  The Hamas, having concluded (not unreasonably) that 75 years on, the leaders of many Arab states had tired of the Palestinian “problem” and were moving on, regarding the Jewish state as a permanent part of the region’s political geography with the advantages of détente greater than those of conflict, needed to be back on the agenda.  The Hamas understand a resort to diplomacy is unlikely much to influence the Arab rulers but the spilling of Muslim blood at the hands of the IDF will bring protest to the streets in the region and beyond.  This of course makes inevitable that when the strategic corporals proceed, however cautiously, through the rubble of Gaza’s blocks, they’ll be encouraged by their opponents to make decisions and these decisions can have consequences which ripple far and perhaps for a generation.  What one strategic corporal decides to do really does matter.  By comparison, most of the statements and resolutions, issued or passed by politicians, ex-politicians and other worthies around the planet will be noted with equal interest by those in Tel Aviv, the Hamas to the south, the Hezbollah to the north, the Ayatollahs to the east and the fish to the west.

Corporal and Spiritual Works of Mercy

The Bible reduces the New Testament’s conception of mercy to seven practical (corporal) and seven spiritual (contemplative) acts, each said to be a virtue influencing one's will to have compassion for, and, if possible, ameliorate another's misfortune.  Italian Dominican friar & philosopher Saint Thomas Aquinas (1225–1274) thought that although mercy is, as it were, the spontaneous product of charity, it must be thought a special virtue adequately distinguishable from its effects.  Later theologians noted its motive is the misery which one discerns in another, particularly in so far as this condition is deemed to be, in some sense at least, involuntary but even if not, the necessity is to offer succor of either body or soul.

Corporal works of mercy

To feed the hungry
To give drink to the thirsty
To clothe the naked
To harbor the harborless
To visit the sick
To ransom the captive
To bury the dead

Spiritual works of mercy

To instruct the ignorant
To admonish sinners
To bear wrongs patiently
To forgive offences willingly
To comfort the afflicted
To pray for the living and the dead
To counsel the doubtful

The Gospel of Matthew (Matthew 25:34-41) makes clear those who offer mercy “…are righteous and their souls will be granted eternal life…” whereas those who do not “…shall be cursed, cast into everlasting fire and given over to the devil.”

34 Then shall the King say unto them on his right hand, Come, ye blessed of my Father, inherit the kingdom prepared for you from the foundation of the world:

35 For I was an hungred, and ye gave me meat: I was thirsty, and ye gave me drink: I was a stranger, and ye took me in:

36 Naked, and ye clothed me: I was sick, and ye visited me: I was in prison, and ye came unto me.

***

41 Then shall he say also unto them on the left hand, Depart from me, ye cursed, into everlasting fire, prepared for the devil and his angels:

42 For I was an hungred, and ye gave me no meat: I was thirsty, and ye gave me no drink:

43 I was a stranger, and ye took me not in: naked, and ye clothed me not: sick, and in prison, and ye visited me not.

46 And these shall go away into everlasting punishment: but the righteous into life eternal.

Tony Abbott (b 1957; Australian prime-minister 2013-2015) visited Cardinal George Pell (1941-2023) in prison (a corporal work of mercy).  In this act, come Judgement Day, he will be found to have acted righteously.

Pope Francis (b 1936; pope since 2013) didn't visit Cardinal Pell in prison but did remember him in his prayers (a spiritual work of mercy).  In this act, come Judgement Day, he will be found to have acted righteously.  Within the Roman Curia (a place of Masonic-like plotting & intrigue and much low skulduggery), Cardinal Pell's nickname was “Pell Pot”, an allusion to Pol Pot (1925–1998, dictator of communist Cambodia 1976-1979) who announced the start of his regime was “Year Zero” and all existing culture and tradition must completely be destroyed and replaced.

Lindsay Lohan 6126 wool blend military coat in black.

Military uniforms have long influenced fashion and in the 1960s, the counter culture adopted them with some sense of irony.  Camouflage patterns have always been popular but the dress uniforms are also used as a model, the insignia, sometimes in elaborated form added as embellishments.  The insignia of a corporal is a two-bar chevron, depicted variously upwards or downwards, depending on the service.

Tranche

Tranche (pronounced trahnch, trahnsh, or trahnsh (French))

(1) One part or division of a larger unit; a slice, section or portion.

(2) A group of securities that share a certain characteristic and form part of a larger offering.

(3) Any part, division, or instalment.

(4) In finance, to divide into parts, applied especially to loans and share issues.

(5) In insurance, a distinct subdivision of a single policyholder's benefits, typically relating to separate premium increments.

(6) In pensions, a scheme's or scheme member's benefits relating to distinct accrual periods with different rules.

1400s: From the French tranche, (a cutting (literally, “a slice”)), a form of trancher (to cut, to slice), from Old French trenchier, trancher & trancher (cut, make a cut), possibly from the Vulgar Latin trinicāre (cut in three parts). It was cognate with the English trench.  The specific uses in economics and finance didn’t emerge until 1930.  The form in Modern French is tranché (feminine tranchée, masculine plural tranchés, feminine plural tranchées), the past participle of trancher (clear-cut, marked, bold, distinct (and in heraldry: per bend)).  Tranche is a noun & verb and tranched & tranching are verbs; the noun plural is tranches.

Tranches in a collateralised debt structure.

Tranche has become so associated with matters financial that the word is now seldom used in other contexts, probably a good thing given it’s likely only to confuse.  In finance, a tranche is a portion of a security (loans, mortgages, stocks, bonds etc) that can be packaged for sale to investors; Securities are broken to be reassembled in different forms for a number of reasons, the most obvious of which is to make them easier to sell.  Because investors base their decision to purchase on factors such as risk, time and the quality of asset backing, tranches prepared for sale vary in the emphasis placed on these factors to attract buyers with different priorities.

Slicing the cake.

Since the global financial crisis (GFC) began in 2008, the perception probably is that packaging is most associated with residential mortgages, the money banks and others loan to people to buy houses as homes or investments.  That’s not entirely true but it has been a big part of the market.  Typically, mortgages are repaid over fifteen to thirty years but the lenders prefer to churn, banks, rather than waiting decades to get the money, on-sell mortgages to investors, thereby gaining the funds to lend for more mortgages.  Because of the limited number of number of investors, individuals and institutional, willing to buy thirty year mortgages, banks create tranches, some including the first three years of each mortgage, some the five years while a few will run for the whole term.

This spread of products appeals to a spread-out market.  Some investors will prefer the low-risk tranche of three-year mortgages and accept the lower interest rate while others will opt for the riskier long-term tranche, attracted by the higher rate.  Tranching is thus a device which maintains the liquidity of the loan pool and provides a differentiated securities market in which investors can adjust their exposure according to their own risk versus reward calculation.

Pick your tranche; you pay your money, you take your choice.

The particular, celebrated case of the sub-prime mortgage crisis which began to manifest in 2008-2009 involved mostly tranches of CMOs (collateralized mortgage obligations) and the problems then were not a product of the structural design of tranching but the quality of what was being tranched.  Essentially, like many of the periodic crises in capitalism, the GFC was triggered by over-production.  The traditional mortgage market consisted of borrowers judged to be capable of repaying the loan but, various things having combined to mean the lenders had run out of them, they resorted to lending to people who would never be able to repay.  That required some clever contractual engineering to ensure (1) the credit-rating agencies would grant investment-grade ratings to what were junk securities so (2) the risk would be quickly on-sold.  The rationale for all of this was that the tranching was done in such a way that the spread of the risk was so diversified that whatever defaults occurred would present no systemic threat.  There are interesting stories about (1) & (2).

Lots lost lots in the GFC but there were also quite a number who made much and very quickly.  So profitable for those few in the right place at the right time was the loaning of money to those with no capacity to repay that it’s hard to believe it won’t, at scale, happen again and there are suggestions it may be happening now.  The unusual combination of borrowing at historically high multiples against static or falling incomes for assets at historically high valuations has happened in an era of historically low interest rates.  Movements downwards in asset values or upwards in interest rates will have a multiplier effect on each-other and those movements, if sufficient, will essentially render much mortgage debt functionally sub-prime and there were those who predicted the extraordinary increase in the global money-supply playing out this way.

The headline in the French language which in 2016 announced: Lindsay Lohan s'est tranché le doigt en deux (Lindsay Lohan sliced her finger in half).

Actually "sliced her finger in half" was a bit sensationalist (one might even say Anglo-Saxon style click-bait).  In October 2016, during an Aegean cruise, there was a nautical incident, the tip of one of her fingers severed by the boat's anchor chain but details of the circumstances are sketchy.  It may be that upon hearing the captain give the command “weigh anchor”, she decided to help but, lacking any background in admiralty terms and phrases, misunderstood the instruction.  The detached piece of digit was salvaged from the deck and ashore, soon re-attached by micro-surgery.  Digit and the rest of the patient are said to have made full recoveries, something especially significant because it was the ring finger which was “tranched” but, thanks to the surgeon’s skill in fixing the gruesome injury, she managed later to find husband and the finger now displays engagement and wedding rings.  All’s well that ends well.