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Originally posted by HanFei
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm -
HanFei, The Federal Reserve Bank and all of it's branches are all PRIVATE. They have never ever been a part of the US government. They are owned by shareholders of stock. The Federal Reserve System, and the branches, are operated by the major banks in the WORLD, which are all publicly traded banks, owned by shareholders. As such, the Federal Reserve is a private entity, owned by the shareholders of the controlling banks. Also, the Federal Reserve has many unique atttributes. For example, instead of issuing "stock" directly, the Federal Reserve issues a special type of "bond". It's not much different than a C-Corp. It's not a governement entity.
List of Banks which run the Federal Reserve (Participants)
- BNP Paribas Securities Corp.
- Bank of America Securities LLC
- Barclays Capital Inc.
- Cantor Fitzgerald & Co.
- http://en.wikipedia.org/wiki/Citigroup - - Citigroup Global Markets Inc.
- Credit Suisse Securities (USA) LLC
- Daiwa Securities America Inc.
- Deutsche Bank Securities Inc.
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- Dresdner Kleinwort Securities LLC.
- Goldman, Sachs & Co.
- Greenwich Capital Markets Inc.
- HSBC Securities (USA) Inc.
- http://en.wikipedia.org/wiki/JPMorgan_Chase_%26_Co. - - J. P. Morgan Securities Inc.
- Mizuho Securities USA Inc.
- Morgan Stanley & Co. Incorporated
- Nomura Securities International, Inc.
- UBS Securities LLC.
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Every entity, under American law is either owned by people (or other business entities) or by the government. There aren't any other American entities by law that the US government recognizes. The US recognition of American institutions are based on the tax code. The confusion regarding The Federal Reserve started over a hundred years ago. The people of the US were truly scared that a private bank had reached a level where they can control American economics, world economic, stock markets, etc. Thus Congress enacted the Federal Reserve Act, creating the Federal Reserve System. This was a lousy attempt at trying to squash the confusion, by making the Federal Reserve the bank of choice of the US government. They have absolutely no control over the decisions or operations on this bank. The bank is not a profit making machine? Really? It loans money to the US government, private/public banks, international governments, and at a very high interest rate. They make money. They are not a registered non-profit organization. The stimulus bill was a money making mechanism. A lot of the money disperse to the banks were based on the interest the loan would produce. It's in the bill. The US government took a loan out on the entire amount fromt he Federal Reserve at a significant interest rate, and the collateral was taxpayer's revenue over 10 years.
As such, most people just a**ume that the Federal Reserve is a government entity. There is nothing government about it. The US government, through the Act, have created some formalities which make it appear as though the US government has control over this bank, but the truth is the world banks run the show and the US government doesn't. The President's appointment of the Chairman is nothing significant. It's like having a chairman of the board, a worthless position. Don't a**ume that the chairman of the board has some special powers. This person does nothing more than run meetings. If the Government appointed the CEO, which they don't, it'd be a whole different story.
Also, there are dozens of great books on this subject. Pick one up. It makes for great reading from a US history, Economics, Tax, and legal standpoint. I can go on about this for hours, but the simple truth is, "The Fed" is a private enitity, seperate and disticnt from the US government.
I recommend asking any reputabe person at any major financial institution who they think the Federal Reserve is. If they truly understand banking and the markets, the response they give you will be enlightening.
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Posted By: HanFei
Date Posted: 29 Aug 2009 at 12:41pm
That whole section was taken verbatim from their website.
I think both of our statements say similar things with slightly different connotation. For instance, you said, "It's not a government entity," while I referenced, "independent within the government." Both are comparable.
Regardless of the banks public or private nature. The Fed is neither as bad nor powerful as this documentary made them out to be. As an aside, I am not well versed on banking practices at a national or international level.
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Posted By: TuNA FISh
Date Posted: 29 Aug 2009 at 2:20pm
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all documentaries like this are WARPED. that's why i don't waste my time with them.
one of the best documentaries i have ever seen is religiolous with bill maur
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The sun was high and so was I
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Posted By: sickboogiemurder
Date Posted: 29 Aug 2009 at 3:50pm
Originally posted by HanFei
Regathering #12,
There is a consensus for anthropogenic climate change by the following organizations:
- Intergovernmental Panel on Climate Change
- National science academies of the G8+5
- InterAcademy Council
- International Council of Academies of Engineering and Technological Sciences
- European Academy of Sciences and Arts
- Network of African Science Academies
- National Research Council (US)
- European Science Foundation
- American a**ociation for the Advancement of Science
- Federation of American Scientists
- World Meteorological Organization
- American Meteorological Society
- Royal Meteorological Society (UK)
- Australian Meteorological and Oceanographic Society
- Canadian Meteorological and Oceanographic Society
- Canadian Foundation for Climate and Atmospheric Sciences
- International Union for Quaternary Research
- American Quaternary a**ociation
- Stratigraphy Commission of the Geological Society of London
- International Union of Geodesy and Geophysics
- International Union of Geological Sciences
- European Geosciences Union
- Canadian Federation of Earth Sciences
- Geological Society of America
- American Geophysical Union
- American Astronomical Society
- American Institute of Physics
- American Physical Society
- American Chemical Society
- American Society for Microbiology
- Institute of Biology (UK)
- World Federation of Public Health a**ociations
- American College of Preventive Medicine
- American Public Health a**ociation
- American Medical a**ociation
- American Statistical a**ociation
- Engineers Australia (The Institution of Engineers Australia)
- Water Environment Federation
- Chartered Institution of Water and Environmental Management
- Federal Climate Change Science Program (US)
That is neither political, bad science, or pseudoscience, in contrast to statements at an 1:25 hour in the film.
- HanFei |
Ok so, they never denied the fact that our planet is warming up they explained why the planet was warming up, and how it is not ralated to human activity, but more to astronomical events such as sun spots. The government is trying to put carbon taxes in place, trying to make the people feel as if it's our fault the Earth is warming up when there is proof that this has happened before throughout different periods of time. The point of that section is not to disprove global climate change but to show you that we are not the problem like they are making it seem, it's just another scare tactic like 9-11 that will allow them to put their plan into motion.
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Posted By: TuNA FISh
Date Posted: 29 Aug 2009 at 4:02pm
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i do not agree with you at all. everyone knows that the earth goes through cycles, but we are speeding up the process.
and did you say global warming was caused by sun spots? LMAO
everyone always has to disagree, even if the facts are right in front of them.
you probably think water vapor is another reason why the earth is heating up.
i agree with hanfei
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The sun was high and so was I
- Best Coast
psn: HardhatTuna
XBL: Tuna is QnL
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Posted By: sickboogiemurder
Date Posted: 29 Aug 2009 at 4:22pm
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Originally posted by TuNA FISh
i do not agree with you at all. everyone knows that the earth goes through cycles, but we are speeding up the process.
and did you say global warming was caused by sun spots? LMAO
everyone always has to disagree, even if the facts are right in front of them.
you probably think water vapor is another reason why the earth is heating up.
i agree with hanfei
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Why are you in here laughing at me? What do you have to add to this arguement? So far you haven't contributed anything, so you're only in here to criticize people? Go to the Fist's of Fury thread and have at it, but keep your useless BS out of this thread please.
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Posted By: Helscream
Date Posted: 29 Aug 2009 at 5:48pm
Originally posted by TuNA FISh
i do not agree with you at all. everyone knows that the earth goes through cycles, but we are speeding up the process.and did you say global warming was caused by sun spots? LMAO
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Believe it or not, the Sun actually has everything to do with Earths tempature. Sun Spot's actually have alot to do with what the Earth is going to be like in terms of tempature.
The one thing i can add to this argument is how Al Gore, and the carbon tax is all complete bull****. Global harming is a political theme set up to sucker people. The Sun has everything to do with the Earth's Tempature, not humans. And if you to contest on this, i will prove to everyone undoubtly that Global Warming is bull****, and the carbon tax that Nations around the world want to enforce is literally a phony act put up to steal peoples money.
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Posted By: TuNA FISh
Date Posted: 29 Aug 2009 at 5:53pm
Originally posted by sickboogiemurder
Originally posted by TuNA FISh
i do not agree with you at all. everyone knows that the earth goes through cycles, but we are speeding up the process.
and did you say global warming was caused by sun spots? LMAO
everyone always has to disagree, even if the facts are right in front of them.
you probably think water vapor is another reason why the earth is heating up.
i agree with hanfei
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Why are you in here laughing at me? What do you have to add to this arguement? So far you haven't contributed anything, so you're only in here to criticize people? Go to the Fist's of Fury thread and have at it, but keep your useless BS out of this thread please. |
lol
my bad. i won't do it again, me lord.
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The sun was high and so was I
- Best Coast
psn: HardhatTuna
XBL: Tuna is QnL
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Posted By: TuNA FISh
Date Posted: 29 Aug 2009 at 5:55pm
Originally posted by Helscream
Originally posted by TuNA FISh
i do not agree with you at all. everyone knows that the earth goes through cycles, but we are speeding up the process.and did you say global warming was caused by sun spots? LMAO
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Believe it or not, the Sun actually has everything to do with Earths tempature. Sun Spot's actually have alot to do with what the Earth is going to be like in terms of tempature.
The one thing i can add to this argument is how Al Gore, and the carbon tax is all complete bull****. Global harming is a political theme set up to sucker people. The Sun has everything to do with the Earth's Tempature, not humans. And if you to contest on this, i will prove to everyone undoubtly that Global Warming is bull****, and the carbon tax that Nations around the world want to enforce is literally a phony act put up to steal peoples money. |
okay man, of course the sun has an effect on the earths temperature. but are you kidding me? you can prove to me global warming is a fraud? go ahead, prove it. i'm not trying to start an argument, i am just interested in what you have to say.
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The sun was high and so was I
- Best Coast
psn: HardhatTuna
XBL: Tuna is QnL
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Posted By: sickboogiemurder
Date Posted: 29 Aug 2009 at 6:26pm
Originally posted by HanFei
Really?!? List of ridiculous quotes.
1) All governments are manipulated by a world bank. Presidents just change over time. ~17min (No other evidance provided.)
You are kidding me right?
"It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during the past 40 years." - David Rockefeller, of the Rockefeller Banking Dynasty (Council of Foreign Relations)
"There's going to be an event Aaron... We are going to go into Afghanistan to run pipe lines through the Caspian sea... We are going to go into Iraq to take the oil and establish a base in the middle east. You're going to see guys going into caves looking for people that they're never going to find. You have this war on terrorism, but there's no real enemy. By having this war on terror, you can never win it...so you can always keep taking people's liberties away. You have this war on terrorism, but there's no real enemy. The media can convince everybody that it's real." - Nicholas Rockefeller, 11 months before September 11th, 2001
If that's not proof they manipulate the the Government I don't know what is.
2) Suckering the middle cla** back into the stock market. (Stock market is bad???)
If you haven't noticed, they've already screwed us once, remember The Great Depression.
3) Dictatorial world government kept behind the shadows for our benefit. ~19min (Wow, just Wow...)
I don't understand what you are getting at here. Do you not believe it? Or are you in awe of the reality of it?
4) US the formerly powerful nation state ~37min (We still have the #1 economy = to about China, Japan and China combined!) http://www.wolframalpha.com/input/?i=highest+gdp - http://www.wolframalpha.com/input/?i=highest+gdp
http://www.nationmaster.com/graph/eco_deb_ext-economy-debt-external - http://www.nationmaster.com/graph/eco_deb_ext-economy-debt-external
5) Presidents come and go, but the shadow government remains to keep. ~43min (Really?!? no other prof)
The proof is infront of our eyes nothing has changed, with how many new presidents we've had you'd think something would have changed by now, but it hasn't. We are still headed in the same direction. You'd think that at would have atleast gotten a little better right? But the shadow government has other motives and wont allow change for the better.
6) Arrest Ben Bernanky. 55:15min http://www.nytimes.com/2008/01/20/magazine/20Ben-Bernanke-t.html - http://www.nytimes.com/2008/01/20/magazine/20Ben-Bernanke-t.html
7) Fed is Unaccountable banker. 56min (Simply incorrect, as seen by my post above.)
8) Fed is totally private. ~1 hour (Blatantly inaccurate, as seen by my above post.)
The FED is private they are out of reach of the public only for elites
9) No one is above the law... ~1:01hour (Well, I'm glad we established that... lol)
Aparently according to the Alan Greenspan they think they are, and in that video they prove their point, no one has ever audited the FED
10) Implode and concolade the economcy. ~1:03hou (Really?!?)
Once again remember The Great Depression?
11) "They" are always imploding economies and buying them up ~1:04) (Really?!?)
Do I have to say it again?
12) "Anthropogenic global warming is a fraud. 1:25hour (Second post to come. How he can disprove Anthropogenic Climate Change in a few minutes of dialogue, while PhDs have published thousands of peer reviewed papers is beyond me...)
13) Rapper speaks again. ~1:46hour (I'm glad such a distinguished and learned individual is lecturing us.)
What do you consider a distinguished and learned individual? Wisdom is a great thing.
14) There is a million people in the planet. ~1:47hour (6.67Billion He's 3 orders of magnitude off...) http://www.wolframalpha.com/input/?i=world+population - http://www.wolframalpha.com/input/?i=world+population
He never said 1 million he said "...Theres a billion people on the planet..." it's an estimate.
I would like to point out that this video is produced by Alex Jones, who spent the last 7 years claiming that the terrorist attacks of 9-11 were a conspiracy planned and orchestrated by the Bush Administration. No matter how much you may hate Obama (if you do or don't, I don't care...), you don't like Alex Jones.
The terrorist attacks were staged there is video proof along with physical proof. Incendiary devices were used, to be more exact Thermite. As I posted above Nicholas Rockerfeller was recorded on tape saying 9-11 was going to happen and that it would start a war 11 months before 9-11 really actually took place. There is no doubt in my mind that those attacks were actually just another part of this blanket of deceit.
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Originally posted by HanFei
That whole section was taken verbatim from their website.
I think both of our statements say similar things with slightly different connotation. For instance, you said, "It's not a government entity," while I referenced, "independent within the government." Both are comparable.
Regardless of the banks public or private nature. The Fed is neither as bad nor powerful as this documentary made them out to be. As an aside, I am not well versed on banking practices at a national or international level.
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I guarantee you they, they being the Fed, are as bad and powerful as that movie make them out to be. Anyone who continues to follow them blindly, as most of our population does, will be smited for their ignorance. The fact that the North American Union exists and has been kept out of the public eye, is proof of how powerful they are, and documentation of things have said is proof as to how bad they are. Other countries have already gone through this and were broken down easily, America is here to fight we wont just sit back and let them do what they want and they know that. It's the main reason not many people know about things like the North American Union, The Bank of the World, and The Elite Shadow Governments that exist. But thanks to some of the top investigative journalists, their lies have been brought to the surface. Most people don't want to believe these things, because of this blanket of deceit that has been spread across the world, but how can you deny them when these predictions have already started to come true, when there is proof of their power. They don't want us to know their true motives because if we did, they know that people would revolt. They have done a brilliant job on keeping us in the dark but that is over now and I'll repeat what earlier anyone who continues to follow them blindy WILL be smited for their ignorance it is inevitable.
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Posted By: sickboogiemurder
Date Posted: 29 Aug 2009 at 6:51pm
Originally posted by TuNA FISh
Originally posted by Helscream
Originally posted by TuNA FISh
i do not agree with you at all. everyone knows that the earth goes through cycles, but we are speeding up the process.
and did you say global warming was caused by sun spots? LMAO |
Believe it or not, the Sun actually has everything to do with Earths tempature. Sun Spot's actually have alot to do with what the Earth is going to be like in terms of tempature.
The one thing i can add to this argument is how Al Gore, and the carbon tax is all complete bull****. Global harming is a political theme set up to sucker people. The Sun has everything to do with the Earth's Tempature, not humans. And if you to contest on this, i will prove to everyone undoubtly that Global Warming is bull****, and the carbon tax that Nations around the world want to enforce is literally a phony act put up to steal peoples money. |
okay man, of course the sun has an effect on the earths temperature. but are you kidding me? you can prove to me global warming is a fraud? go ahead, prove it. i'm not trying to start an argument, i am just interested in what you have to say. |
Ok so I don't agree with what Helscream is saying completely but let me throw my opinion in here, Global Warming is happening but once again I'm going to say it's not because of mankind. The point the video is trying to make is that they are trying to deceive us into thinking it is our fault so that we will see some light in this ma**ive lie. Deceive by definition means to mislead by a false appearance or statement; delude. That's exactly what they are doing right now by saying that it is all our fault that the Earth is warming up when in reality The main reason the Earth is starting to warm up is because of the suns spots that are apearing on the sun over the last decade. If you don't believe then go look it up see how many sun spots have appeared in the last few years. How do we effect the Sun? We don't, the Sun is like "God" it gives life to this planet, it also has the power to take it away, it's basically natural selection. It has been proven that these maximuns heats and minimums heats have already happened, before on Earth before there were all these vehicles and over populated areas were here. It's has been shown that astronomical events also affect the other planets not only ours. Saying Global Warming is a fruad isnt saying Global warming is fake its saying it is a fraud. Fraud by definition deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage. They aren't trying to disprove it they are trying to open up peoples eyes as to the true reason we are heating up.
One thing, how is a cattle flatulence tax going to help Global Warming?
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Posted By: COKKENBALLS
Date Posted: 29 Aug 2009 at 7:05pm
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Anyone who knows me, knows that I am not a fan of Obama. However, that does not keep me from thinking objectively. Did anyone see the Loose Change Conspiracy Video about 911? I liken this vid to that. I don't give much credence to conspiracy theories. There is one commonality among them all. They take a handfull of coincedences and conjecture and present them as irrefutable evidence that something horrible is going on. Completely ignoring the mountain of evidence to the contrary.
In regards to Global Warming, it's just another fallacy that has been politicized to death. In the 70's it was Global Cooling that the left was terrorizing us with.
http://www.denisdutton.com/cooling_world.htm - http://www.denisdutton.com/cooling_world.htm
Now, you look @ wikipedia and it is looked at as pure conjecture. Just 30 years later, we have the Global Warming scare. Will we look back on this latest theory as conjecture? I believe so. What will be the next manufactured natural disaster? Al Gore said when he was in office that we had 10 years before there was no turning back. We have surpa**ed those 10 years. Since the high priest at the church of global warming says we beyond the point of no return. Why do we still argue this issue?
Perhaps it's because the left terrorizes us with global warming the same way the right terrorizes us with imminent terror attacks.
Lastly, I would like to hear from all of you that believe the Aesop fable we call global warming. I'd like to hear what you personally are doing to help save the earth.
Cheers.
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Posted By: Pinnacle
Date Posted: 29 Aug 2009 at 9:24pm
Cokken, to help global warming, I BBQ ever day. I hate those cows that keep screwing it up for all of us with cars that get 12 mpg.
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Posted By: COKKENBALLS
Date Posted: 29 Aug 2009 at 9:56pm
Originally posted by Pinnacle
Cokken, to help global warming, I BBQ ever day. I hate those cows that keep screwing it up for all of us with cars that get 12 mpg. |
Keep up the good work!
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Posted By: SickNviciouS
Date Posted: 29 Aug 2009 at 10:24pm
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I burn the following each month:
800 gallons of diesel in the boat - important work related trips ;-)
132 gallons of gas in the truck - getting to the boat and back
70 gallons of gas in the car - have no idea where she goes with that thing, but burns the gas
1 propane tank for the BBQ - I gotta eat
**Carbon Credits wanted**
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Posted By: HanFei
Date Posted: 30 Aug 2009 at 12:32am
Intergovernmental Panel on Climate Change releases yearly peer reviewed reports from scientists around the world. This is neither political, bad science, nor pseudoscience.
http://www.ipcc.ch/ - http://www.ipcc.ch/
Thermite and other 9/11 theories explained.
http://www.debunking911.com/thermite.htm - http://www.debunking911.com/thermite.htm
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Posted By: COKKENBALLS
Date Posted: 30 Aug 2009 at 1:06am
Originally posted by HanFei
Intergovernmental Panel on Climate Change releases yearly peer reviewed reports from scientists around the world. This is neither political, bad science, nor pseudoscience.
http://www.ipcc.ch/ - http://www.ipcc.ch/
Thermite and other 9/11 theories explained.
http://www.debunking911.com/thermite.htm - http://www.debunking911.com/thermite.htm
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I hope these aren't the same scientists that came up with global cooling. Besides, it is all theory at this point.
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Posted By: iAM_NotImpressed
Date 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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Posted By: COKKENBALLS
Date Posted: 30 Aug 2009 at 3:11am
Originally posted by iAM_NotImpressed
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. |
Why?
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Posted By: iAM_NotImpressed
Date Posted: 30 Aug 2009 at 3:27am
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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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Posted By: COKKENBALLS
Date Posted: 30 Aug 2009 at 4:00am
Originally posted by iAM_NotImpressed
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. |
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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Posted By: HanFei
Date Posted: 30 Aug 2009 at 10:06am
Originally posted by COKKENBALLS
Originally posted by HanFei
Intergovernmental Panel on Climate Change releases yearly peer reviewed reports from scientists around the world. This is neither political, bad science, nor pseudoscience.
http://www.ipcc.ch/ - http://www.ipcc.ch/
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I hope these aren't the same scientists that came up with global cooling. |
Page 4 in the the link below shows that while parts of the globe decreased in temperature from 1970, overall surface temperatures have increased.
http://www.ipcc.ch/pdf/a**essment-report/ar4/syr/ar4_syr_spm.pdf - http://www.ipcc.ch/pdf/a**essment-report/ar4/syr/ar4_syr_spm.pdf
Originally posted by COKKENBALLS
Besides, it is all theory at this point. |
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 - http://www.wilstar.com/theories.htm
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Posted By: COKKENBALLS
Date Posted: 30 Aug 2009 at 11:10am
Originally posted by HanFei
Originally posted by COKKENBALLS
Originally posted by HanFei
Intergovernmental Panel on Climate Change releases yearly peer reviewed reports from scientists around the world. This is neither political, bad science, nor pseudoscience.
http://www.ipcc.ch/ - http://www.ipcc.ch/
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I hope these aren't the same scientists that came up with global cooling. |
Page 4 in the the link below shows that while parts of the globe decreased in temperature from 1970, overall surface temperatures have increased.
http://www.ipcc.ch/pdf/a**essment-report/ar4/syr/ar4_syr_spm.pdf - http://www.ipcc.ch/pdf/a**essment-report/ar4/syr/ar4_syr_spm.pdf
Originally posted by COKKENBALLS
Besides, it is all theory at this point. |
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 - http://www.wilstar.com/theories.htm
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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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Posted By: Fluffy Fluffington
Date Posted: 30 Aug 2009 at 1:48pm
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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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Posted By: HanFei
Date Posted: 30 Aug 2009 at 9:20pm
Originally posted by Fluffy Fluffington
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. |
Well said, great read.
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Posted By: Pinnacle
Date Posted: 30 Aug 2009 at 9:37pm
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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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Posted By: Fluffy Fluffington
Date Posted: 30 Aug 2009 at 10:31pm
Originally posted by Pinnacle
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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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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Posted By: ournemesis
Date Posted: 31 Aug 2009 at 8:26pm
Interesting forum topic sickboogiemurder , and great post replies everyone . I truly enjoyed it 
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 cannon_nemesis iAM_Avenger GOW_Nemesis
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Posted By: Pinnacle
Date Posted: 31 Aug 2009 at 8:56pm
Originally posted by Fluffy Fluffington
Originally posted by Pinnacle
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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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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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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