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The Free Talk Live BBS
Profile of MOE from between St. Joe's River and the railroad tracks
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General / New Hampshire Liberty Forum: Three Days or Four?
« on: November 27, 2011, 12:01:37 AM »
According to the fsp's website, the liberty forum goes from February 23rd to the 26th. http://freestateproject.org/libertyforum
However, I'm looking at buying a three day pass to the event for $109 and I'm confused.
Is the event for four days or three days? Does anyone know? Thanks
However, I'm looking at buying a three day pass to the event for $109 and I'm confused.
Is the event for four days or three days? Does anyone know? Thanks
3
General / American College Kids
« on: November 10, 2011, 05:29:35 PM »
So I just took a leisurely stroll to check out all the fine ladies at my university library. As usual most of the people at the library were asian.
So I strolled to the math library, and every single person in there was asian except the ginger sitting next to me (he's not a real person anyhow)
So it got me thinking, are American twenty somethings stupid and lazy? I know I certainly was a good portion of my life. Almost all of the drunk obnoxious kids at the tailgates here are Americans. I wish I knew Chinese. Damn
So I strolled to the math library, and every single person in there was asian except the ginger sitting next to me (he's not a real person anyhow)
So it got me thinking, are American twenty somethings stupid and lazy? I know I certainly was a good portion of my life. Almost all of the drunk obnoxious kids at the tailgates here are Americans. I wish I knew Chinese. Damn
5
General / The Federal Reserve Does NOT Print Money
« on: November 07, 2011, 12:54:18 AM »
I know, I know, you probably disagree with me. Just let me briefly explain what the fed is actually doing.
The fed creates banking reserves and exchanges them for treasuries via a process called open market operations to manipulate interest rates. So what happens during an open market operation? Well, The Federal Reserve Bank of New York purchases a treasury bond, bill or note from the a primary dealer in exchange for a bank reserve
So what is a primary dealer? A primary dealer is a bank which is obligated by U.S. law to buy U.S. govt. debt to facilitate the open market operations process. The following link lists the U.S. primary dealers: http://www.newyorkfed.org/markets/pridealers_current.html
The Federal Reserve creates a bank reserve that it swaps with the primary dealer. The effective accounting entry from the fed's point of view is below. Note that this transaction Increases an asset and decreases an asset--the result is a wash.
Debit: Treasury Security (Assets go up by x)
Credit: Bank Reserve (Assets go down by x)
The primary dealer receives a bank reserve for a treasury security. The accounting entry is below:
Debit: Bank Reserve (Assets go up by x)
Credit: Treasury Security Assets go down by x)
It's really as simple as that. The fed DOES have the state granted magic power to create reserves, however it is important to note that net private sector assets DO NOT CHANGE--just look at the journal entries if you don't believe me. This is not just the accounting for open market operations, it is also the accounting for QE 1 and QE 2. There is no money printing going on; the fed is just swapping reserves for treasuries like it always does and now its given the process a serious sounding name to make it look like the folks at the fed have the power to "stimulate" the economy.
The theory is that reserves create "high-powered money" when banks pyramid loans on their reserves. This is just not how modern banking works. Total bank credit is constrained by capital regulations and by loan demand--not the level of excess reserves.
The fed creates banking reserves and exchanges them for treasuries via a process called open market operations to manipulate interest rates. So what happens during an open market operation? Well, The Federal Reserve Bank of New York purchases a treasury bond, bill or note from the a primary dealer in exchange for a bank reserve
So what is a primary dealer? A primary dealer is a bank which is obligated by U.S. law to buy U.S. govt. debt to facilitate the open market operations process. The following link lists the U.S. primary dealers: http://www.newyorkfed.org/markets/pridealers_current.html
The Federal Reserve creates a bank reserve that it swaps with the primary dealer. The effective accounting entry from the fed's point of view is below. Note that this transaction Increases an asset and decreases an asset--the result is a wash.
Debit: Treasury Security (Assets go up by x)
Credit: Bank Reserve (Assets go down by x)
The primary dealer receives a bank reserve for a treasury security. The accounting entry is below:
Debit: Bank Reserve (Assets go up by x)
Credit: Treasury Security Assets go down by x)
It's really as simple as that. The fed DOES have the state granted magic power to create reserves, however it is important to note that net private sector assets DO NOT CHANGE--just look at the journal entries if you don't believe me. This is not just the accounting for open market operations, it is also the accounting for QE 1 and QE 2. There is no money printing going on; the fed is just swapping reserves for treasuries like it always does and now its given the process a serious sounding name to make it look like the folks at the fed have the power to "stimulate" the economy.
The theory is that reserves create "high-powered money" when banks pyramid loans on their reserves. This is just not how modern banking works. Total bank credit is constrained by capital regulations and by loan demand--not the level of excess reserves.
6
I've been looking for someone to take over the lease for my apartment for about two months with no luck--until this afternoon when I became a silver amplifier.
20 minutes after I upgraded from an amplifier to a silver amplifier, I get a call from a girl who wants to look at the apartment. She's going to take over my lease as soon as she gets a co-signer. I also got a call from a company I applied to in NH and I have a second-round phone interview scheduled for next Thursday.
So...is this karma?! Maybe I should just go straight to platinum and buy a lottery ticket or bet on a horserace.
20 minutes after I upgraded from an amplifier to a silver amplifier, I get a call from a girl who wants to look at the apartment. She's going to take over my lease as soon as she gets a co-signer. I also got a call from a company I applied to in NH and I have a second-round phone interview scheduled for next Thursday.
So...is this karma?! Maybe I should just go straight to platinum and buy a lottery ticket or bet on a horserace.
7
General / Denver Collects Fines On Drivers Who Cross the White Line at a Red Light
« on: November 04, 2011, 11:25:09 AM »
"The city of Denver is bringing in thousands of dollars in fines every year by ticketing people who stop at red lights. They are ticketed because their tire goes over the white line that marks where the vehicle should stop.
The red light cameras at various intersections in the city will flash and the driver will be sent a $75 citation if the vehicle goes over the white "
http://denver.cbslocal.com/2011/11/03/denver-collects-fines-on-drivers-who-stop-at-red-lights/
The red light cameras at various intersections in the city will flash and the driver will be sent a $75 citation if the vehicle goes over the white "
http://denver.cbslocal.com/2011/11/03/denver-collects-fines-on-drivers-who-stop-at-red-lights/
9
General / Civil Disobedience websites?
« on: July 31, 2011, 11:00:04 PM »
Hello,
I was wondering if there are any websites out there which focus exclusively on civil disobedience with a global scope. Is there a drudgereport.com out there for civil disobedience anywhere that I haven't found?
Thanks.
I was wondering if there are any websites out there which focus exclusively on civil disobedience with a global scope. Is there a drudgereport.com out there for civil disobedience anywhere that I haven't found?
Thanks.
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