Re: OT: Miguel you might like this

On Nov 13, 10:18 pm, Miguel de Maria <elegantspanishgui...@xxxxxxxxx>
wrote:
On Nov 13, 5:42 pm, John Philip Dimick <googlegro...@xxxxxxxxxxxxx>
wrote:





On Nov 12, 8:24 am, Miguel de Maria <elegantspanishgui...@xxxxxxxxx>
wrote:

On Nov 11, 10:02 pm, John LaCroix <John.L.LaCr...@xxxxxxxxx> wrote:

On Nov 11, 10:01 pm, Wollybird <wollyb...@xxxxxxxxxxxxxxx> wrote:

On Nov 11, 5:49 pm, John LaCroix <John.L.LaCr...@xxxxxxxxx> wrote:

On Nov 10, 9:42 pm, Wollybird <wollyb...@xxxxxxxxxxxxxxx> wrote:

On Nov 10, 1:36 pm, John LaCroix <John.L.LaCr...@xxxxxxxxx> wrote:

I just stumbled on this link and thought of you:

http://www.justiceplus.org/bankers.htm

I kinda see the point of some of your anit-banking arguments. I would
be interested in what the flip side argument would be.

John L.

The flip side is,  I had a hard time finding an accurate statment in
the half of the artilce that I read.

Are the basic details on how the Federal reserve was created correct?
Did it really transfer authority away from the Congress? Any idea on
what the growth curve of the national debt would have looked like had
the Fed not been created?

John L.

The Treasury issues public debt, not the Fed.  Hence Treasury notes,
bills and bonds. The Fed was created by congress in 1913, who has
oversight authority over the Fed. Congress still has the authority to
set the debt limit of the US Govt
 If you look back over the 19th century, you will see a major
depression every 20 years or so a recession every 3-4 years. The Fed's
role is to regulate the supply of money in an effort to keep it
somewhat in line with the supply of goods and services-( we just had a
gigantic contraction) in an effort to ameliorate this. it does this by
open market transactions and setting the short term fed funds rate. It
also conducts safety and soundness exams on state chartered banks who
are Fed members (banks who keep reserves with the fed and are allowed
to borrow short term) It isn't a public corporation, it's an agency of
the US government.
So the total public debt is more a function of the Treasury selling
debt instruments to fund budget deficits run up by the executive and
legislative branches. You should probably look at it in terms of
constant dollars (adjusted for inflation) in relation to gdp. You can
google this if you wish I do think it's out of kilter, myself. I
prefer a thrifty government. Oh well.
This pastor you linked to is a major wing nut. I mean a end of times,
white supremist, anti semitic, McCarthy lov'n boob from Phoenix, so
you just got his take. I don't know why one would consult a pastor on
these matters, at any rate. Same reason people consult guitarist on
health matters I guess.http://books.google.com/books?id=-qIb0IuQlkUC&pg=PA93&lpg=PA93&dq=She...

Thanks. I just stumbled on the link and found it interesting. Kinda
figured he was a religious guy from the bible quotes sprinkled in. One
thing he said that I think is true is that we are a country were the
creation of debt is king - the only real growth industry left. I'm
waiting for Bush to go on TV and beg us all to be partriotic buy SUV's
and big screens for xmas :^(- Hide quoted text -

- Show quoted text -

John,
you might check out the video "Money as Debt"... you can watch it on
Youtube.  Interesting and informative.

Wolly: "It isn't a public corporation, it's an agency of the US
government."

Wiki: "The Federal Reserve Banks have an intermediate status, with
some features of private corporations and some features of public
federal agencies."

http://en.wikipedia.org/wiki/Federal_Reserve_System

It should be noted that Wolly's contention that Congress' ability to
set the "debt limit", whatever that is, should be taken with a boulder
of rock salt.  What does that mean when Congress is controlled by the
corporate/financial sector?  Or when the Sect. of the Treasury is
given despotic control over hundreds of billion$, against the express
wishes of the people?  Or when the actual money supply is not even
published anymore (as of 2 years ago).

Apparently American Express is now going to become a bank to get in on
the looting.  I propose that we guitarists pool our resources, become
a bank, and then try to get some bailout cash in order to convert them
into bonuses.  Or we can buy up Wolly's bank and take the reserves!

Big hedge funds say US bank bailout a "sweet deal"
Thu Nov 13, 2008

 WASHINGTON, Nov 13 (Reuters) - Hedge fund managers, who rank among
some of the world's shrewdest dealmakers, told Congress the U.S.
government's bank capital injection program did not have enough
strings attached.

"The current terms are overly generous to recipients," said John
Paulson, president of hedge fund Paulson & Co.

He was among five hedge fund managers questioned on Thursday by the
U.S. House Oversight and Government Reform Committee about Treasury
Secretary Henry Paulson's management of a $700 billion bailout program
to unfreeze credit markets through taxpayer investments in financial
firms.

John Paulson -- whose attack on the plan was dubbed "Paulson versus
Paulson" by the lawmakers -- said any bank receiving federal funds
should halt cash dividends on common stock and restrict cash
compensation to executives.

He also said the government should demand a higher dividend payment
from participating banks, possibly around 10 percent instead of the 5
percent rate now in place.

James Simons, a mathematics professor-turned-investor who now heads
Renaissance Technologies, called the bank injections "quite a sweet
deal" for firms requesting the funds.

John Paulson, Philip Falcone, Kenneth Griffin, George Soros and Simons
were called to testify at the hearing about the role of hedge funds,
their tax status and regulation. Each executive earned, on average,
more than $1 billion last year.- Hide quoted text -

- Show quoted text -

I just got booked to play for another financial company this coming
Wednesday.

Are people protesting and it's just not getting media coverage, I
wonder?- Hide quoted text -

- Show quoted text -

Hopefully that financial company was just celebrating the aquisition
just made with bailout money they recieved. Well, if it is at least
SOME money is trickling down (to you) :^)
.

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