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Article #69Re: Know Who is an Idiot
From: Canuck57
Date: Sat, 27 Oct 2007 23:21
Date: Sat, 27 Oct 2007 23:21
31 lines
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3099 bytes
"Abbot" <whosonfirst@emailaccount.com> wrote in message news:1192577198.656135.152930@z24g2000prh.googlegroups.com... > On Oct 16, 7:03 pm, Tom P <nos...@nospam.com> wrote: >> I thought you knew something but all you are doing is naval gazing. >> >> The origional post pointed out that the Federal Reserve is privately >> owned and the owners of that organization is responsible for the >> economic welfare of the country. That is a scary thought to think that >> the US economy is guided by those individuals. Whatever happened to "We >> the people"? > > Abbot) Tom, that is inaccurate. The Fed ulimately answers to Congress > and it is not in charge of the "economic welfare of the country". > Maybe if you knew what you were talking about you won't be so scared. Actually Tom is right. When the fed prints/create/manufactures money it dilutes the currencies worth. In fact, depreciates the currencies value. A fancy way to say the government isn't paying it's bills in a way that does not foster inflation. Canadians will also feel this pinch shortly as commercial asset backed paper is in liquidity trouble. The Canadian version of the fed did the same, manufacture money. Not a good thing. The reason for the liquidity problem is that interest rates are artificially low when compared to inflation and risk. Until interest rates hit 10% I doubt this cycle will abate. But I do have faith in the USA, just needs a kick in the ass once and awhile to wake it up. Sort of like Pearl Harbor.
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X-Google-Thread: 114f38,40b713b832250d6c X-Google-Thread: f64a0,40b713b832250d6c X-Google-Thread: fd1f1,40b713b832250d6c X-Google-Thread: fb374,40b713b832250d6c X-Google-Thread: 10d4c6,40b713b832250d6c X-Google-Attributes: gid114f38,gidf64a0,gidfd1f1,gidfb374,gid10d4c6,public,usenet X-Google-Language: ENGLISH,ASCII-7-bit Path: arc1-ca.pugleaf.net!g2news2.google.com!news2.google.com!border1.nntp.dca.giganews.com!nntp.giganews.com!nx01.iad01.newshosting.com!newshosting.com!64.59.134.4.MISMATCH!pd7cy3no!pd7cy4no!shaw.ca!pd7urf1no.POSTED!53ab2750!not-for-mail X-Trace-PostClient-IP: 68.145.168.233 From: "Canuck57" <dave-no_spam@unixhome.net> Newsgroups: us.taxes,can.taxes,misc.taxes,can.politics,us.politics References: <1192525984.389509.304990@v23g2000prn.googlegroups.com> <a_1Ri.3668$5c.3516@bignews1.bellsouth.net> <He2Ri.341086$dA7.191555@newsfe16.lga> <9E4Ri.4297$E7.3017@bignews3.bellsouth.net> <vrbRi.19034$UN.2765@newsfe24.lga> <1192577198.656135.152930@z24g2000prh.googlegroups.com> Subject: Re: Know Who is an Idiot Lines: 34 X-Priority: 3 X-MSMail-Priority: Normal X-Newsreader: Microsoft Outlook Express 6.00.2900.3138 x-mimeole: Produced By Microsoft MimeOLE V6.00.2900.3138 X-RFC2646: Format=Flowed; Original Message-ID: <9KPUi.152250$Da.52100@pd7urf1no> Date: Sat, 27 Oct 2007 23:21:41 GMT NNTP-Posting-Host: 64.59.135.176 X-Complaints-To: abuse@shaw.ca X-Trace: pd7urf1no 1193527301 64.59.135.176 (Sat, 27 Oct 2007 17:21:41 MDT) NNTP-Posting-Date: Sat, 27 Oct 2007 17:21:41 MDT Organization: Shaw Residential Internet