funny, that's just what they are saying today about China. How many of those high paying (low to us at the time) Chinese manufacturing jobs went to Viet Nam?
It's a bitch getting rich
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The Bern Identity
- Thread starter nitro
- Start date
It's a bitch getting rich
I did not say you had to tax the top 2 percent.
But, for those new to my rant... you have to understand.
All this budget talk is a sham until we find out how many trillions of extra dollars the Fed prints every year.
There is a truly a massive dollar denominated world out there. If the world economy grows... theoretically you could expand the money supply and not experience any inflation.
Our problem is that the Fed created and spent trillions for its own members accounts over the years... seriously devaluing the dollar. That is money that could have been spent by our government for our people. So I say lets do this the right way.
Summary... since we don't get useful audit reports on this subject from the FED. (for instance we did not know the created 7-13 trillion during the bank crisis until a few years later.) --- we should just cap our spending - eliminate income and death taxes on the the working class and lets us grow into the budget. If we stop the Fed from creating dollars we might not even experience any inflation.
But, for those new to my rant... you have to understand.
All this budget talk is a sham until we find out how many trillions of extra dollars the Fed prints every year.
There is a truly a massive dollar denominated world out there. If the world economy grows... theoretically you could expand the money supply and not experience any inflation.
Our problem is that the Fed created and spent trillions for its own members accounts over the years... seriously devaluing the dollar. That is money that could have been spent by our government for our people. So I say lets do this the right way.
Summary... since we don't get useful audit reports on this subject from the FED. (for instance we did not know the created 7-13 trillion during the bank crisis until a few years later.) --- we should just cap our spending - eliminate income and death taxes on the the working class and lets us grow into the budget. If we stop the Fed from creating dollars we might not even experience any inflation.
when you first come off that farm, you make more in one week than you use to make off just one crop. And everybody likes you. You are now a happy worker. But if you ever want more, there are plenty of other poor farmers who would like what you have attained. And like Trump says, "The problem is Americans are just getting paid too much to compete."
A few more years and China will be competing with us. Not for our manufacturing jobs but our service jobs.
The one who works for less wins? Sometimes you gotta underbid a contract to get it. Knock out the competition and then move in.
A few more years and China will be competing with us. Not for our manufacturing jobs but our service jobs.
The one who works for less wins? Sometimes you gotta underbid a contract to get it. Knock out the competition and then move in.
There may be more than one substantive factual error in your thesis, but one error that stands out is that the Central Banks of the World, are not, as a general rule, privately owned. Unlike private bank operation, any net profits made by these Central Banks, or the Central Bank System in the case of the U.S.Central Bank, flow back to the Treasuries of the respective Countries to which the Central Banks belong. Many are confused by the hybrid structure of the U.S. Central Bank System, because some of the same attributes one finds associated with for-profit banking institutions, are also associated with the U.S. Central Bank System. The primary distinguishing characteristic, however, is that all net profits of the U.S. Central Bank system, after expenses, flows directly back to the U.S. Treasury, and not to member private banks.The Charity needs to understand that the major causes of mal distribution are 2 fold. One is that the money is made by the private individuals who are connected to the privately owned central banks for the world. Just think... if you had the power to make electronic dollars and yen and just about every other currency... your crony buddies and you are going to own and control every larger asset and parts of every large business that makes profits... including the politicians.
2. considering how little of the pie is actually up for grabs... if you wish to improve wealth distribution, there should be no income or death taxes on those who earn less than the top 2%.
I don't know, but DX has gone from 78 to 98 in spite of all the money the fed has printed. So my dollars buy more Eurodollars than they did a while ago. If the fed is devaluing my dollar how come I can buy more gold with a dollar than I could a few years ago?
Unless you are a US exporter, or work for a US exporter, or have any of your IRA or 401k or Union Pension money invested in any USA exporter, I really don't see how the fed has hurt you.
Unless you are a US exporter, or work for a US exporter, or have any of your IRA or 401k or Union Pension money invested in any USA exporter, I really don't see how the fed has hurt you.
You make it sound as if the Fed just gave money to banks via their reserve accounts. It did not. It bought assets from the banks at market value and credited the bank's reserve accounts accordingly.I did not say you had to tax the top 2 percent.
But, for those new to my rant... you have to understand.
All this budget talk is a sham until we find out how many trillions of extra dollars the Fed prints every year.
There is a truly a massive dollar denominated world out there. If the world economy grows... theoretically you could expand the money supply and not experience any inflation.
Our problem is that the Fed created and spent trillions for its own members accounts over the years... seriously devaluing the dollar. That is money that could have been spent by our government for our people. So I say lets do this the right way.
Summary... since we don't get useful audit reports on this subject from the FED. (for instance we did not know the created 7-13 trillion during the bank crisis until a few years later.) --- we should just cap our spending - eliminate income and death taxes on the the working class and lets us grow into the budget. If we stop the Fed from creating dollars we might not even experience any inflation.
Don't confuse actual printing, i.e., permanent expansion of the money supply, with reversible , non-permanent expansion. There is a huge difference. Technically, quantitative easing is not 'printing' , despite almost everyone, including many economists, calling it that.The only way to reverse the effect of real printing is with inflation or a bonfire!
Read this,
http://www.cnbc.com/id/100760150
(which is really only part of the story, but correct as far as it goes. We must not forget that the Treasury was raising a lot of money for Stimulus programs during the time QE was going on. Fed actions both held down rates and provided the ultimate source of funds to buy those extra, new bonds issued by the Treasury, even though the Fed doesn't buy bonds directly from the Treasury. Had the Fed not been there as a ready buyer on the secondary market, all that accelerated Treasury borrowing would have put upward pressure on rates. This is often forgotten when people say QE didn't accomplish anything. It actually accomplished a great deal, and it was hugely beneficial.)
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We are unconcerned about the profits the privately owned central banks make.
The profits are chicken feed compared the the trillions dollars they create place whenever they like... into whichever members account they wish.
The regional federal reserve banks are owned by private shareholders.
How you can be confused about that... makes me wonder about your objectivity.
Its says the regional Federal reserve banks are owned by private shareholder's on the FEDs own website.
http://www.federalreserve.gov/faqs/about_14986.htm
The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
now I will rewrite that paragraph without the red herring.
"The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations" - conclusion... privately owned
"for example, the Reserve Banks issue shares of stock to member banks" - privately owned
"The Reserve Banks are not operated for profit" - red herring because who cares about profits at your electronic printing press facility when you print trillions and give it to your crony shareholders accounts.
and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year. conclusion... the govt does not own these shares. These shares are owned by the cronies and you can't even get them through bankruptcy... they will just be transferred to the people who own other shares.
Piezoe... do you know who the owners of these shares are? Does anyone.
How can you continue to pretend the regional fed banks are not privately owned?
do you work for them?
The profits are chicken feed compared the the trillions dollars they create place whenever they like... into whichever members account they wish.
The regional federal reserve banks are owned by private shareholders.
How you can be confused about that... makes me wonder about your objectivity.
Its says the regional Federal reserve banks are owned by private shareholder's on the FEDs own website.
http://www.federalreserve.gov/faqs/about_14986.htm
The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
now I will rewrite that paragraph without the red herring.
"The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations" - conclusion... privately owned
"for example, the Reserve Banks issue shares of stock to member banks" - privately owned
"The Reserve Banks are not operated for profit" - red herring because who cares about profits at your electronic printing press facility when you print trillions and give it to your crony shareholders accounts.
and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year. conclusion... the govt does not own these shares. These shares are owned by the cronies and you can't even get them through bankruptcy... they will just be transferred to the people who own other shares.
Piezoe... do you know who the owners of these shares are? Does anyone.
How can you continue to pretend the regional fed banks are not privately owned?
do you work for them?
There may be more than one substantive factual error in your thesis, but one error that stands out is that the Central Banks of the World, are not, as a general rule, privately owned. Unlike private bank operation, any net profits made by these Central Banks, or the Central Bank System in the case of the U.S.Central Bank, flow back to the Treasuries of the respective Countries to which the Central Banks belong. Many are confused by the hybrid structure of the U.S. Central Bank System, because some of the same attributes one finds associated with for-profit banking institutions, are also associated with the U.S. Central Bank System. The primary distinguishing characteristic, however, is that all net profits of the U.S. Central Bank system, after expenses, flows directly back to the U.S. Treasury, and not to member private banks.
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market value my ass.
go read about how the banks bought back zombie bonds owned by zombie banks by using Pimco and others. Read about how pimco was allowed to front run the shares for huge profits because the Fed was massively overpaying from market value at the time.
The articles were here on elitetrader.
Also... remember the banking crises... we had a big vote over less than a trillion dollars in bailouts. Do you remember Obama disappearing and McCain push for the bailouts...
Well at that very same the Fed created trillions of dollars and did not even tell us about it for years. You have no idea what the Fed is doing.
go read about how the banks bought back zombie bonds owned by zombie banks by using Pimco and others. Read about how pimco was allowed to front run the shares for huge profits because the Fed was massively overpaying from market value at the time.
The articles were here on elitetrader.
Also... remember the banking crises... we had a big vote over less than a trillion dollars in bailouts. Do you remember Obama disappearing and McCain push for the bailouts...
Well at that very same the Fed created trillions of dollars and did not even tell us about it for years. You have no idea what the Fed is doing.
You make it sound as if the Fed just gave money to banks via their reserve accounts. It did not. It bought assets from the banks at market value and credited the bank's reserve accounts accordingly.
Don't confuse actual printing, i.e., permanent expansion of the money supply, with reversible , non-permanent expansion. There is a huge difference. Technically, quantitative easing is not 'printing' , despite almost everyone, including many economists, calling it that.The only way to reverse the effect of real printing is with inflation or a bonfire!
Read this,
http://www.cnbc.com/id/100760150
(which is really only part of the story, but correct as far as it goes. We must not forget that the Treasury was raising a lot of money for Stimulus programs during the time QE was going on. Fed actions both held down rates and provided the ultimate source of funds to buy those extra, new bonds issued by the Treasury, even though the Fed doesn't buy bonds directly from the Treasury. Had the Fed not been there as a ready buyer on the secondary market, all that accelerated Treasury borrowing would have put upward pressure on rates. This is often forgotten when people say QE didn't accomplish anything. It actually accomplished a great deal, and it was hugely beneficial.)
Is it time to roll out the guillotine again?Richest 62 people as wealthy as half of world's population, says Oxfam
Charity says only higher wages, crackdown on tax dodging and higher investment in public services can stop divide widening
"The vast and growing gap between rich and poor has been laid bare in a new Oxfam report showing that the 62 richest billionaires own as much wealth as the poorer half of the world’s population.
Timed to coincide with this week’s gathering of many of the super-rich at the annual World Economic Forum in Davos, the report calls for urgent action to deal with a trend showing that 1% of people own more wealth than the other 99% combined...."
http://www.theguardian.com/business...naires-wealthy-half-world-population-combined