The Obama Deception |
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iAM_NotImpressed
Team iAM iAM Warfare Co-Captain Joined: 08 Nov 2008 Location: OC in CA Online Status: Offline Posts: 156 |
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Topic: The Obama Deception Posted: 30 Aug 2009 at 2:58am |
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oh my jesus. i feel dumber for having read any of this.
at least it wasn't in the "i'm so smart" sub-forum.
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The worst of the best.
PS3 = YLOD |
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COKKENBALLS
Godlike Member Joined: 05 Dec 2008 Location: Here and there Online Status: Offline Posts: -998930 |
Post Options Quote Reply Posted: 30 Aug 2009 at 3:11am | |||
Why?
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iAM_NotImpressed
Team iAM iAM Warfare Co-Captain Joined: 08 Nov 2008 Location: OC in CA Online Status: Offline Posts: 156 |
Post Options Quote Reply Posted: 30 Aug 2009 at 3:27am | |||
too lazy to multi-quote.
the only things of any intellectual interest is the information on the Fed. On a side note, Alan Greenspan was viewed as the greatest economic mind for 20 years as the Fed chairman. Now, everyone thinks he did everything wrong. Discuss.
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The worst of the best.
PS3 = YLOD |
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COKKENBALLS
Godlike Member Joined: 05 Dec 2008 Location: Here and there Online Status: Offline Posts: -998930 |
Post Options Quote Reply Posted: 30 Aug 2009 at 4:00am | |||
George Bush did it. The same machine he used to change the weather in N.O. was used to turn Alan Greenspan into Alan Alda.
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HanFei
Team KmA Joined: 26 Apr 2009 Online Status: Offline Posts: 798 |
Post Options Quote Reply Posted: 30 Aug 2009 at 10:06am | |||
http://www.ipcc.ch/pdf/a**essment-report/ar4/syr/ar4_syr_spm.pdf
So, we should throw out the theory of relativity, the atomic theory, and the quantum theory because they are theories??? A theory is more like a scientific law than a hypothesis. A theory is an explanation of a set of related observations or events based upon proven hypotheses and verified multiple times by detached groups of researchers. One scientist cannot create a theory; he can only create a hypothesis. All of these theories are well documented and proved beyond reasonable doubt. Yet scientists continue to tinker with the component hypotheses of each theory in an attempt to make them more elegant and concise, or to make them more all-encompa**ing. Theories can be tweaked, but they are seldom, if ever, entirely replaced. http://www.wilstar.com/theories.htm |
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COKKENBALLS
Godlike Member Joined: 05 Dec 2008 Location: Here and there Online Status: Offline Posts: -998930 |
Post Options Quote Reply Posted: 30 Aug 2009 at 11:10am | |||
I should have been less cynical and more descript in my posts. How long have the atomic theory, theory of relativity and quantum theory been around? Have they gone in the complete opposite direction in less than 15 years? In 1975, we were being threatened by global cooling. By 1990, we were beginning to see global warming wheels starting to turn. In the early 80's, aerosol cans were going to spell the end because of an "unrepairable" hole in the ozone layer. Today, that too has been debunked.
I guess what I am saying is that it is hard to give credit to a theory that changes every so often. I won't argue that the earth is warming ever so slightly. Us puny humans are rather full of ourselves to believe that we had anything to do with it.
Hasn't the earth emerged from 7 previous ice ages? How many Republicans, Escalades and aerosol cans around for those?
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Fluffy Fluffington
Team Deep The Fluffer Joined: 11 Mar 2009 Location: USA Online Status: Offline Posts: 2065 |
Post Options Quote Reply Posted: 30 Aug 2009 at 1:48pm | |||
Han may be a nuclear engineering student, but when it come to Finance I think i can bring a little something more to the table.
I Have a BS in Economics and Political Science from the University of Wisconsin I've worked in the financial services industry for over 10 years. During that time I've been an Equity Research Analyst for one the worlds largest money management firms in the country, Strong Capital which was bought a few years ago by Wells Fargo. At its peak we managed $40 billion in a**ets. I currently work for a smaller organization in the same capacity. we manage a $1billion mutual fund and a smaller Hedge Fund. Our mutual fund is one of the most successful in terms of performance relative to the market in he country. (you can look up our ticker FMIOX) I am a Chartered Financial Analyst or CFA. Getting this designation requires pa**ing Three levels of rigorous testing over a minimum of three years. The tests are administered once a year and rival if not surpa** the BAR exam. A DEEP UNDERSTANDING OF FINANCE, THE FINANCIAL MARKETS, MICRO AND MACRO ECONOMINCS is imperative in my role. I conduct research all day on individual companies as well as pore over economic data and news using qualitative and quantitative tools. I am NOT a financial planner but an ANALYST, our firms clients are very large institutions. In turn, we are clients of some of the largest and most influential investment banks in the country. Although we do our own research we have access to the research of all the Investment banks we do business with. Those are my credentials Here Goes: The Fed is NOT a private bank, however, it is not a branch of the US government. It is a hybrid institution. The MEMBERS of the Federal reserve SYSTEM are in fact Private Banks, this does not however, make the Fed a private entity. The Chairman of the Federal Reserve is appointed by the president, but he is not a member of the president's cabinet or part of his administration. The term 'Independence' refers to how much autonomy the Fed has in terms of setting monetary policy. an Independent Fed means that monetray policy is set INDEPENDENT of political forces so that monetray policy is not set by pandering politicians. Central Bank INDEPENDENCE is measured across a spectrum. FOR EXAMPLE, THE FED (the term used for the central bank of the United States) is relatively independent when measured against other countries central banks. On the other end of the spectrum is Venezuela, for example. Hugo Chavez appoints a central banker who obeys Chaves' whims. That is central bank with no independence. The EUCB (the European Union Central Bank) is actually considered more Independent that then the FED, but not by a whole lot. This stems from history. The EUCB was modeled after the German Central BANK (the BUNDES BANK) before the unification of European currencies. The German Central bank was considered THE WORLDS MOST INDEPENDENT BANK. this again stems from history. Many historians attribute the rise of Hitler to the economic turmoil during the Weimar Republic. The turmoil was first instigated by the harsh war reparations imposed by the Allies after WWI, but made Much much worse by the actions of the Weimar Republic. To pay their debts, the government Printed Money ... the central bank was not an independent entity and did what the elected officials of the Republic wished, which is Print money, which made their currency worthless. The inflation that created was crippling the economy, actually made it chaotic, which in turn gave the Nazis the opening they needed to gain power. The rate of inflation at one point in 1923 hit 3.25 X 10^6 % per MONTH!!! Thats a doubling of prices every two days! Studies after study has demonstrated that the more independent a nations central bank is, the less inflation exists in the economy. The inflation rate in the United States at its peak recently was never over 5%, mainly driven by oil and other commodities, but in Venezuela inflation peaked at a whopping 36%! Even in the global downturn Venezuela is still experiencing ma**ive hyper inflation. We are in a global economy, Central Banks communicate and coordinate policy (at least the Independent ones in the major developed economies the so called G7) Coordinating policy among independent central banks that are not subject to elected bodies is what gives rise to, in my opinion, the ABSURD conspiracy theories. Yes these central bankers wield a lot of power. Yes they are Relatively independent bodies. Yes, they coordinate Policy. Is this a Conspiracy? absolutely NOT. The alternative is much much worse. Fluffy out. |
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HanFei
Team KmA Joined: 26 Apr 2009 Online Status: Offline Posts: 798 |
Post Options Quote Reply Posted: 30 Aug 2009 at 9:20pm | |||
Well said, great read. |
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Pinnacle
Forum Moderator Joined: 14 Dec 2008 Location: Dogtown, CA Online Status: Offline Posts: 2510 |
Post Options Quote Reply Posted: 30 Aug 2009 at 9:37pm | |||
To all above, please read the Federal Reserve Act in it's entirety. This has nothing to do with consipracy theories. If you guys want a more thorough explanation, let me know and I'll send you the description of the Fed. For the record, the Fed is the largest creditor of the US Government. Futhermore, the each branch of the Fed is a registered C-Corp (state of Delaware), with issued shared held by publicly traded business entities. Lastly, the Fed issues dividends. Therefore, the Fed can't be a not-for-profit entity, since it possesses earnings and profits. The Fed is not organized within the Executive, Legislative or Judicial branches of our government.
Who pays the Fed’s bills and determines its budget? Not any part of our government. The Fed gets its funding from its own specially privileged operations. The Fed Board determines Fed budgets. Who monitors and oversees Fed activities? Again the Fed itself. While some important elements of proper auditing have taken place, there has not yet been a comprehensive independent audit, by the Government Accountability Office as proposed to Fed Chairman Ben Bernanke, calling for greater monetary transparency. Federal Reserve Employees are not part of the US Civil Service System and are not covered by government employees’ health insurance or pension programs. Who does the hiring and firing? Except for the highly publicized Chairman and 7 member Washington Board, this is in private, unelected hands. Hope that gives you a little start into the research.
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Fluffy Fluffington
Team Deep The Fluffer Joined: 11 Mar 2009 Location: USA Online Status: Offline Posts: 2065 |
Post Options Quote Reply Posted: 30 Aug 2009 at 10:31pm | |||
None of what you said is untrue, that is why I called it a HYBRID body. Fannie Mae and Freddy Mac both are private bodies but also quasi government organizations. In the case of Fannie and Freddy they lean more toward the private end of the spectrum, but HYBRIDS NONTHELESS. All of the things you cited above are part and parcel what make the fed independent. As I said the greater the independence of the FED, or any central bank in ANY NATION, for that matter, the less the likelihood that political considerations mangle incredibly important Monetary policy and therefore the less likely we have crippling inflation. The feds independence, or the lack of oversight as you call it, troubles many. It was the centerpiece of the Thesis in an amazing book published a decade ago called the "Secrets of the Temple". Pinn would you rather have Monetary Policy, the supply of Money, in the hands of Politicians, the likes of say Pelosi, Barney Frank!!! God no! |
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ournemesis
Team iAM Joined: 14 Jun 2009 Online Status: Offline Posts: 244 |
Post Options Quote Reply Posted: 31 Aug 2009 at 8:26pm | |||
Interesting forum topic sickboogiemurder , and great post replies everyone . I truly enjoyed it
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Pinnacle
Forum Moderator Joined: 14 Dec 2008 Location: Dogtown, CA Online Status: Offline Posts: 2510 |
Post Options Quote Reply Posted: 31 Aug 2009 at 8:56pm | |||
LMAO! Could you imagine what would happen if Congress, especially Pelosi, ran the Fed? We'd be a 3rd World country. Good points Fluffy. Let's have a chat sometime about finance. That's my cup of tea also. It'd be interesting to have some PSN chats about something other than UT3. |
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