Somali pirates

Discussion in 'All Things Boats & Boating' started by bntii, Feb 22, 2011.

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  1. Yobarnacle
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    Yobarnacle Senior Member holding true course

    25 people rep cycle Frosty. I needed to rep 24 more before I could rep Troy again. Since I'd just given rep to Fannie.
     
  2. troy2000
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    troy2000 Senior Member

    No, 'the bankers' didn't creat the legislation for the Fed. In fact, the original bill that was born in a secret meeting at Jekyll Island was shot down in a long and spirited (and very public) Congressional battle. It was replaced by another bill that incorporated some of its features, but with major differences such as a stronger role for the Treasury. The myth that the Fed was somehow sneaked through in the dead of night by special interests is just that: a myth.

    And I'm very suspicious of such perfect quotes as the one you just gave from "Rothschild." Which Rothschild wrote it, when did he write it, who did he write it to, and why on Earth would the recipient ever let something that damning out of his hands?

    I took a look at your link, and it sounds like the usual conspiratorial nonsense to me; not worth my time. Here are the facts: the Federal Reserve is not owned by some secretive cabal of sinister foreigners.

    There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks. But the banks don’t necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.

    The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.
    The concept of "ownership" needs some explaining here, however. The member banks must by law invest 3 percent of their capital as stock in the Reserve Banks, and they cannot sell or trade their stock or even use that stock as collateral to borrow money. They do receive dividends of 6 percent per year from the Reserve Banks and get to elect each Reserve Bank’s board of directors.

    The private banks also have a voice in regulating the nation’s money supply and setting targets for short-term interest rates, but it’s a minority voice. Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

    http://www.factcheck.org/2008/03/federal-reserve-bank-ownership/
     
  3. Frosty

    Frosty Previous Member

    Ive not heard that before Yobi.

    Where did you read that?
     
  4. Yobarnacle
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    Yobarnacle Senior Member holding true course

  5. troy2000
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    troy2000 Senior Member

    No rule against anonymous negative rep, as long as you explain why you're giving it. It's just tacky.....
     
  6. troy2000
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    troy2000 Senior Member

    Inflation and national debt are two separate phenomena; conflating the two makes no sense.:confused:

    You'd be hard put to find a real economist who blames inflation purely or primarily on our national debt. Among other things, you might note that inflation doesn't start and/or stop at the border....
     
  7. Yobarnacle
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    Yobarnacle Senior Member holding true course

    You misunderstood me, or I was unclear. I didn't say inflation caused the national debt. I was trying to say the money that was created for the government to cover deficits, this printed money only had value it robbed from the pre-existing money. The debt caused inflation by printing more money.. Read below. explains better.

    Dr. Hans F. Sennholz, Chairman of the Department of Economics at Grove City (PA) College stated: "The Federal Reserve System facilitates the government's own inflationary financing in "periods of emergency." It makes easy the inflationary financing of budget deficits and the inflationary refunding of government loans. It stabilizes the government bond market through inflationary methods and manipulates this market to the advantage of the government. It does all this by wrecking the purchasing power of the dollar; by subtly stealing from the people of this country what it thus provides for the government, through a process exactly on par with the coin clipping of ancient kings but much less visible."
     
  8. troy2000
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    troy2000 Senior Member

    You're right; I misunderstood you. I thought you said, 'Why is this inflation important? Because that's the "national debt".':cool:
    Unfortunately, the good professor doesn't explain why inflation is worldwide, if it's simply a product of the Federal Reserve System. We could ask him, if he hadn't died five years ago....

    But Sennholz liked simple answers to complex questions, just as his disciple Ron Paul does. For example, he once said that "...spiraling health-care costs are the inevitable consequence of a 1965 Social Security amendment molding Medicare and Medicaid." http://www.lewrockwell.com/sennholz/sennholz15.html

    That's it. That's the explanation he gives for rising health care costs: the creation of Medicare and Medicaid. Not insurance fraud or profit-taking, not increasingly complex and expensive medical technology, not over-treatment, not the evolution of non-profit health care organizations into for-profit corporations, none of that nonsense. Nope, the cost of healthcare is skyrocketing because of Medicare and Medicaid. Period.

    Ah, if only life's problems were really that simple. :(
     
  9. rwatson
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    rwatson Senior Member

    That last sentence doesn't make a lot of sense - its not even English. The government can only ISSUE(printing is NOT the same thing as issuing) more money, if it is balanced by an increase in government debt. Money is only promissory notes after all. Consider each note as an IOU by the treasury.

    Money is also printed to replace old notes, which is not inflationary.

    Once again - if you read it carefully - this makes no sense either. If you take the word inflationary out, it just describes the normal operation of governments. If they need money in an emergency - or to fund an investment that will be of future benefit - , they will borrow funds by issuing bonds.

    Hoover dam, the Panama canal and World War II are big examples. The dole during the great depression is a lesser talked about example.

    If you are trying to push the barrow that governments should not go into debt, or not as much debt - thats a different discussion.

    If you are one of the ignorant people that thinks that Obama rings up the Mint and says - "run off another $100k of notes - I need to pay for a plane flight to China" - then you have my sympathy.

    Comparing the modern currency production to the altering of coins in the days of the old monarchs is just ridiculous, and shows the person to be a simple minded idiot.
     
  10. Yobarnacle
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    Yobarnacle Senior Member holding true course

    Well, I'm not simple minded. :D
    It wasn't my intention to claim inflation was caused only by deficit spending. :)

    I'll try one more time.

    Supposedly, Henry Ford once said “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

    Federal Reserve is a private company of bankers with twelve branch banks that confiscate our money and they have been doing this for almost a hundred years. They are not part of the United States government but they collect hundreds of billions of dollars from the American taxpayers every year, trillions in total, and they have never been audited and they do not pay taxes on profits.

    If you don’t believe The Federal Reserve (FED) is a PRIVATELY OWNED, organization; check the ENCYCLOPAEDIA BRITANNICA.

    The owners of the 12 Central Federal Reserve Banks are:

    - Rothschild Bank of London
    - Rothschild Bank of Berlin
    - Lazard Brothers of Paris
    - Israel Moses Seif Banks of Italy
    - Warburg Bank of Amsterdam
    - Warburg Bank of Hamburg
    - Lehman Brothers of New York
    - Kuhn Loeb Bank of New York
    - Goldman, Sachs of New York
    - Chase Manhattan Bank of New York

    All-in-all there is about 300 VERY POWERFUL foreign individuals that own the FED through ownership of the listed banks and investment houses.
     
  11. Yobarnacle
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    Yobarnacle Senior Member holding true course

    The US Government runs deficits annually in the billions of dollars, and lately in the trillions of dollars. Congress covers this by issuing government bonds which are bought by the FED. Since the FED has the power to print money, it can buy any amount of the US. Government bonds at almost NO COST, except for the small fee paid to the Treasury to print money (about 3 cents/$100).

    This amounts to a profit to the FED owners of about $99.97 for every 3c they invested to print the money. Basically, they exchange something that costs almost nothing to them for the US Government Bonds.

    Since the FED can NOT be AUDITED by the IRS (or even by Congress), most of this profit can go anywhere the FED owners want it to go; and it is tax free.

    After buying the bonds, the owner of the FED can either keep the bonds, and collect the interest the US Government now owes them, or sell the bonds to the U.S. Taxpayers or foreigners. In either case, the FED owners have received $99.97 profit for every 3 cents it invested to print the money. Since the FED is a privately owned corporation, the profit of the FED goes to the FED owners.

    The U.S. Government now owes the FED owners the interest on those bonds. Remember the FED owners do not earn the bonds, they simply arrange for printing the money to buy the bonds. In other words, they created money out of thin air, and exchange it for the interest bearing bonds.

    In order to pay for the bonds' interest, the U.S. Government taxes the US population.

    When a U.S. citizen holding U.S. Government bonds receives his/her return of investment on the bonds, essentially the money he/she receives is the tax money he/she is paying to the Government.

    When the OWNERS of the FED receive the interest on the BONDS they're holding, they are receiving that money essentially for free and without the need to pay taxes on the profit.

    In reality every year the FED profits by hundreds of billions of dollars by buying US Government Bonds. Yet it only returns about $20 billion to the US Treasury. The rest of the profit has been spent as "Operational Expenses". The FED expects us to believe that the FED operational expenses are hundreds of billions of dollars annually.

    In actuality those profits are given as "DIVIDENDS TO SHAREHOLDERS.”
     
  12. Yobarnacle
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    Yobarnacle Senior Member holding true course

    I've looked and I'm looking, but no sucess yet in confirming this next item.

    Posted on many sites is the U.S. Congress has the option to buy back the FED at $450 million (per Congressional Records), the amount the Fed originally paid the government for this concession.. If the Congress does this, it will own back the billions of U.S. Government Bonds held by the FED. The U.S. Government will actually profit by buying back the FED; and the U.S. government would no longer have to pay interests to the FED owners on those bonds.

    Paper money printed from thin air seems it would have no value. But it does. I aquires a relative % of the value of the money already in existence. Your savings is less valuable because there is now more money. And all of it only has a finite value.

    If a company issues more stock, doubling the total shares, without having increased infrastructure or other real wealth, the previous stock has been devalued by half. The original 1000 shares of stock represented total ownership of the entire company. But now there's 2000 shares. Whoever prints the new 1000 shares and keeps it for themself, now owns half the company. Half the stock. The original 1000 shares just lost half their value. It was stolen by who had power to print new shares without investment, except in paper and ink. That's the Fed.

    They hold a large part of the national debt. They stole it by printing dollars and devaluing your dollars.. The value THEIR new dollars has, is the value YOUR old dollars lost. The national debt you the tax payer, now owe them, in reality you already paid for. It's the value you lost when they printed new dollars and loaned it to your government!

    So I said inflation (meaning the lost value of your money) was the national debt (now owed to the Fed).

    Understand better?
     
  13. BPL
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    BPL Senior Member

    "The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury"
    http://en.wikipedia.org/wiki/Federal_Reserve_System#cite_ref-nyt_transfer_17-0
    Appelbaum, Binyamin (March 22, 2011)
     
  14. Yobarnacle
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    Yobarnacle Senior Member holding true course

    That's what they say. But the Federal Reserve has NEVER been audited , not once, since it's inception. Every year several congressmen call for an audit of the Fed, and it NEVER passes.

    How much do they hold in govt bonds? How much interest are they recieving? You can only know what they're willing to admit to. Because they're above the law.
     

  15. Frosty

    Frosty Previous Member

    Im looking for the thread about Pirates --any one seen it?

    Maybe you should start another thread called 'Americas financial control'
     
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