45% world's wealth destroyed - page 9
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No one?
Up to this point no one knew that you are not all that smart...
Man,just rereading your comments will decrease your IQ by half,in your case ,this will led to brain failure and near death situation...you won`t probably notice anything anyway
...as usual 
.
Still no comments on the thread`s subject?
S
we need a brain surgeon that know neuroanatomy a lot
I started a thread, when I got 1000 hit, I already very satisfied
this one, look at the number !! -- I have no clue why
let's say, farmers control 90% of world food production
and china is 60% of your household product makers (if they strike , 80% of the world population will go DOOH )
SIMBA,
I just read with interest your story about the ghost and the handful of beans. Very interesting, I had to think about it. Then I saw the story online, with some common responses to the story's meaning. I like this one the best...
"The reason something haunts us is because we keep our attention on it. When we move on beyond it it will disappear."
Now, please try not to let Pava continue to haunt you on this thread.
Also, from some of your earlier posts, I got the impression that you think Pava and myself are the same person - I hope that isn't the case!
Good day Poomba. er, Simba that is
The Government's Cooked Books
Should the United States ever adopt the same accounting standards for itself that it foists upon private enterprise, its financial reports would leave the majority of Americans in a state of shock. Americans would have tremendous difficulty recovering from the magnitude of misrepresentation that is going on now. Accounting isn't just a game either; there are material, legal, and ethical consequences when it's done wrong.
As an example of the accounting fictions used daily to dupe the public, consider the US dollars the United States claims to own in the Treasury "coffers." Now brace yourself, because this explanation is going to remind many readers of Alice tumbling down the rabbit hole. All of the interests the United States has in US dollars are cancelled out by liabilities on the Federal Reserve Balance Sheet, so that they have no effect of ownership. The United States owns no domestic money when its off-budget entities are incorporated into its balance sheet. The Treasury general fund is an accounting fantasy. So this begs the question; what happens to tax dollars?
The tax collectors do the accounting equivalent of putting all the collected tax money in a pit and setting it on fire. There is consequently never any taxpayer money in the US treasury coffers. More concretely speaking, when taxpayer checks are cleared by the IRS and the Fed, the tax money ceases to exist in any accounting or legal sense. The fiat money is sent back into the accounting vacuum from whence it came.[1]
How is such an absurd thing possible? Through the sham of fiat currency, of course! While the US dollar used to be a certain weight of metal,[2] or a credit instrument entitling its owner to a best effort attempt to produce that same metal on demand, it has been transformed over the years into a mere credit instrument, with no link to metal at all.
Why is it legitimate for me to consider the US dollar to be a credit instrument? If we set aside for the moment the issue of just exactly to what credit a dollar owner is entitled and the issue of what frauds have been committed in developing the US dollar, we can see that the US dollar is considered a credit instrument by the Fed itself. The Fed has listed a liability for all issued Fed notes on its balance sheet, in accordance with standard procedure in fractional reserve banking.
Why is it legitimate for me to consider the US dollar to be a credit instrument? Set aside for the moment the issue of just exactly to what credit a dollar owner is entitled and the issue of what frauds have been committed in developing the US dollar. We can see by looking at the Federal Reserve's balance sheet that the US dollar is considered a credit instrument by the Fed itself. The Fed has listed a liability for all issued Fed notes, in accordance with standard procedure in fractional reserve banking.
It has also issued similar liabilities in the form of reserve balances for private banks. A private bank can convert its credit balance with the Fed into paper currency upon request. Even if we were to accept the popular circular reasoning and consider dollars to merely entitle their owners to Fed notes and not to any interests in metal, a dollar is still a credit instrument guaranteed by the United States; and the claims I make in this article are still maintained.
Complete article-: http://www.marketoracle.co.uk/Article13242.html
forexinvest
Thats basicly what paper money is in all countries.
There may be an overtone of truth in what you say, but I beleive you are wrong in assuming and insinuateing that the Federal Reserve Bank is a governmental entity. It is not its no more then a private bank itself, one that the goverment gos to for loans. granted the Feds just print the money it loans the goverment for which the goverment (we) have to pay interest on. Another thing try to find out who owns (stockholders) the Federal Reserve Bank, you cant, and why is it that its the only private for profit corperation in the US that doesnot pay income tax on its profits. and for those that dont beleive that its a private corperation, sent the Federal reserve a letter (ground mail) that request a responds (by ground mail). If its a branch of the government it will have a governement permit stamp on it(the $300 dollar fine, type you see on all government mail) It will come back with a paid for regular metered stamp just like any other business uses.
Another thing to consider, the US consitution forbids the Ferderal goverment form printing money (paper), its limited to coining that is all the goverment can make, coins, (but its assumed that the metal in the coins would be worth its face value). So to keep with the consitution the goverment had to basicly sub out the printing job. ( although if goverment were to do that these days the constitution would not of stopped them form stating it own presses ).
Now if the goverment were to do its own printing then there would be no need to pay interest on the money would it. If the goverment wanted to inflate the economy it would just print money, deflate an over heated one by burning the excessive money. One of our foundering fathers was quoted as saiding "the power to print money is the power to control". that is why the goverment was restircted from owning its own printing presses. Now ask who is in control of the fed and why cant you find out. there was only one President all of US history that had the guts to go forth and attemp to close down this private bank and have the goverment take control of the printing job, basicly putting these private stockholder out of control (business). Hopfully by ammending the constitution. Which president you ask?..... J.F.K. .... The power to print money is the power to control. Now you know the rest of the story.
Keit
Fed& Credit
forexinvest
Thats basicly what paper money is in all countries.
There may be an overtone of truth in what you say, but I beleive you are wrong in assuming and insinuateing that the Federal Reserve Bank is a governmental entity. It is not its no more then a private bank itself, one that the goverment gos to for loans. granted the Feds just print the money it loans the goverment for which the goverment (we) have to pay interest on. Another thing try to find out who owns (stockholders) the Federal Reserve Bank, you cant, and why is it that its the only private for profit corperation in the US that doesnot pay income tax on its profits. and for those that dont beleive that its a private corperation, sent the Federal reserve a letter (ground mail) that request a responds (by ground mail). If its a branch of the government it will have a governement permit stamp on it(the $300 dollar fine, type you see on all government mail) It will come back with a paid for regular metered stamp just like any other business uses.
Another thing to consider, the US consitution forbids the Ferderal goverment form printing money (paper), its limited to coining that is all the goverment can make, coins, (but its assumed that the metal in the coins would be worth its face value). So to keep with the consitution the goverment had to basicly sub out the printing job. ( although if goverment were to do that these days the constitution would not of stopped them form stating it own presses ).
Now if the goverment were to do its own printing then there would be no need to pay interest on the money would it. If the goverment wanted to inflate the economy it would just print money, deflate an over heated one by burning the excessive money. One of our foundering fathers was quoted as saiding "the power to print money is the power to control". that is why the goverment was restircted from owning its own printing presses. Now ask who is in control of the fed and why cant you find out. there was only one President all of US history that had the guts to go forth and attemp to close down this private bank and have the goverment take control of the printing job, basicly putting these private stockholder out of control (business). Hopfully by ammending the constitution. Which president you ask?..... J.F.K. .... The power to print money is the power to control. Now you know the rest of the story.
KeitKeit,
Good comments,I would like to add mine
1-QUOTE from Ownership of the Federal Reserve System "The Federal Reserve System certainly makes large profits. According to the Board's 1995 Annual Report, the System had net income totaling $23.9 billion, which, if it were a single firm, would qualify it as one of the most profitable companies in the world. How were these profits distributed? By an agreement between the Board of Governors and the Treasury, nearly all of the Fed's annual profits are paid to the federal government. Accordingly, a lion's share of $23.4 billion, which represents 97.9 percent of the Federal Reserve's net income, was transferred to the Treasury. The Federal Reserve Banks kept $283 million, and the remaining $231 million was paid to its stockholders as dividends.
Given that less than one percent of the Fed's net earnings are distributed as dividends, it seems that an investor could easily find much more profitable ways to store their wealth than buying Federal Reserve stock. Regarding Schauf's lamentation, the Federal Reserve System has been paying its profits to the Treasury since 1947." Unquote ..So,in practice,while the Fed is a privately owned(by USA and International banks) entity, most of its profits go to the Treasury of the U.S.A...intriguing,why is that so?
2-Regarding the actual crisis..Ok,It is very easy...the key is to be found,as always in austrian economics
..Schumpeter,Mises,Hayek et co..let me expand...
3-Economic theory(and effective empirical evidence) says that lower interest rates,USUALLY, revive the economy because they reduce the reward to risk ratio of new ventures,or they improve the financial costs of actual established business,and they reduce the cost of buying heavy ticket items(cars,houses,lcd tvs(when they were expensive
),that usually are financed )..and ,yes,this is true,credit is the gas that feeds the economic machine...BUT..
4...Why in Japan in the 90`s..negative interest rates(real,not nominal)..didn`t produce an increase in economic activity?...Because one of the 2 key factors for the model explained in point 3 to work...is credit demand..there was no aditional credit demand from japanese households,since they had a very high savings rate,and they feared for their future emplyments,so,they just didn`t ask credits to start new business,nor did they buy heavy ticket items,as long as the old Toyota or Sony kept working,why relace it?...that just made easier for international hedge funds to accepts the 0.25% annual interest credits,since Japanes banks were flooded with cash and didn`t know what to do it,they were desperate for customers, and that meant the solution was to play carry trades like crazy until a couple years ago ...but no effect on reviving Japanese economy...even if that dropped the yen to new lows(helping exporters),the economy has been basically underperforming for more than a decade.
5-So,now ...Do we have the same problem? NO,we have the opposite problem,basically,even if the Fed ,BOE and ECB have flooded the world with dollars,pounds and euros,this money hasn`t reached the REAL economy..that is why the stock exchanges have been increasing since March..the money has flooded the exchanges instead of going to small businesses,consumers,companies,etc,but if you have a small business and go to the bank to ask for a loan,you are toast..why?..basically..A- 1% lending is not what the banks want to do..B_The default rate of loans is around 3-4%,average depending on country,so,for a bank to earn on your loan,on average,they would have to charge 4%(to cover their risk,they don`t know if you are going to default or not,they just know hat,today,4% of their loans are defaults) plus interest rate they pay, plus their profit rate,and even so,since they are stockpiled with bad assetts,they would have to charge you some more to start recovering some of their hidden losses..so,effectively,this means that they have to charge 7%,8% and asking you for substantial guarantees...so,the problem is not credit demand,the problem is credit supply due to a crisis in confidence...confidence in the ability of anybody to repay its loans.
Conclusions:
1-Even if interest rates are negative
..there is a credit supply problem caused by a crisis in confidence that will prevent the economy to profit from the ultra low rates,and extra money supply scenario.
2-The Central banks have announced that they are going to cut the excessive money supply,starting this September,all the ,important central banks,first will be the Fed,then otheres will follow in step,probably ECB will be second and BOE the last one to do so,why?..FED:Has announced it already
...ECB:The 2 bigger economies,Germany and France are starting to show good or semigood economic data that points to a fast exit from the crisis,and ECB is prone to control inflation,so,they won`t need many excuses to start increasing rates......BOE,they just made a public move that clearly said they still think they need to stimulate their money supply growth,so,probably they will be the last...So,expect the world stock exchanges to start again down ..When?..anytime between now and December,the money invested in speculation since March(the new carry trade) has to be returned,so stocks have to be sold...musical chairs game has already started...
Regards
S
Thank you everybody for wondrfull thread - it was my great pleasuse to read.
...
"2-The Central banks have announced that they are going to cut the excessive money supply,starting this September,"-sounds like a good old desinformation to me...
"2-The Central banks have announced that they are going to cut the excessive money supply,starting this September,"-sounds like a good old desinformation to me...
- interesting thought, P.
btw. there is few interesting thoughts in your threads too I would love to discuss, if you don't mind, off course ...
regards,
pHavelas
- interesting thought, P.
btw. there is few interesting thoughts in your threads too I would love to discuss, if you don't mind, off course ...
regards,
pHavelasp.s. there, off course - we don't want disrupt this thread with not relevant discussion