response 124 of 536:

Oct 2 02:58 UTC 2003

;)

response 126 of 536:

Oct 2 04:36 UTC 2003

Damn!  Jamie, you must be the smartest guy the Fed has ever had as a 
janitor!

response 128 of 536:

Oct 2 07:54 UTC 2003

_The FED_, by martin mayer (c) 2001 - "the insie story of how the
world;s most power financial institution drives the markets."
  
eye-popp0mg, chin-dropping amazing read!
  
isbn  0-684-84740-X (in case youa re intersted)
  
the fed is a creature of congress - teh federal reserve act of 1913.
  
as for clark, he is wayyyy too brittle for politics; and as teh 
valedictorian of his west point class, far to used to being a damn
general rather than a politician. 
  
besides, he is on record as seeing the supreme court's role as 'implementing
his agenda' for the country .. BZZZT!! wrong! thankxx for playing, next?
  
dean may con enough poeple to get nominated, but i hope not, dubb-ya needs
some competent competition.
  
teh wmd 'problem' also bothers me, jep, and i havne't quite resolved
it to my own satisfaction yet. at least, as thigs stand now.
  
on one hand, teh *greatest* wmd was the saddam regime itself - now gone, phew!
  
and quoting, "Those who argue that deposing Saddam was wrong are the 
equivalent of apologists for Hitler. One has increasing difficulty 
telling the difference between Gov. Dean and Prime Minister Chamberlain, 
between Gen. Clark and his role model, Marshal Petain," Ralph Peters, 
author of "Beyond Baghdad: Postmodern War and Peace."
  
remember, please, hitler never attacked us either - and fdr went for
him first.
  
gassing jews and gassing kurds and iranians are too similar to let the
parallel go un-noticed.
  
of coures, clark was leading teh salvation of bosnia, et al., so he at
least has cred for unprovoked intervention. but wait, oh, that was
clinton as prez so it's alright.
  
(and to repeat my conversion, clinton was *right* to goto bosnia.)
 

response 130 of 536:

Oct 2 13:32 UTC 2003

It's shocking that someone can work for the Fed and still be so 
clueless. SHOCKING! You should tell them that even the coffee boys 
should have a chance to know how things work. ;)

response 132 of 536:

Oct 2 18:19 UTC 2003

HAHAHA. I was going to ask you the same question. I cant believe that 
you can actually work for the Fed and yet be so clueless. 

I have not talking about any theory of economics (other than agreeing 
with rcurl about some things). I can if you would like but all I was 
talking about was the money supply in the United States and how the Fed 
manipulates it. I was thinking of M2 but what I have said applies just 
as well to M1 and M3. You are the one making all kinds of false claims. 
Go talk to some of your co-workers about how the OMC works. Dont make 
me look up the treasury stats that show that the the US treasury prints 
more currency now then they did 50 years ago. 

I have to call bullshit that 1/3 of the US currency is forged. By all 
means, provide a cite for that and I will admit I am wrong about that. 

response 134 of 536:

Oct 2 20:43 UTC 2003

Re #131:
    We *do* have inflation, and precious little growth at the moment. Prices
overall still go up on quite a few things. The proof is as close as your
nearest supermarket, gas station, and real estate broker.

response 136 of 536:

Oct 2 23:24 UTC 2003

slynne is in a wheelchair?

response 138 of 536:

Oct 3 05:18 UTC 2003

until recently it was the inflation of goods ans services that occurred
when teh money supply outpaced teh growth of gdp. now (!!) there is
an inflation of   asset values   sted goods and services.  
  
more correctly put, wehn the fed injected massive quantities of dollars
into the banking system (that *is* wehre it goes, btw) teh economy
ddi strt to turn around, slowly. why slowly withsuch an infusion?
  
welllll, it seems that 'all that extra cash bought securities
instead of goods ans services. [so,] instead of *consumer price*
inflation (emp added) teh united states got an *asset price* inflation" more
commonly called a stock market boom.
  
'thre reamins a mystery to haunt the dreams fo central bankers,
because nobody know why monetary stimulus becomes *consumer price*
inflation in one country and *asset price* inflatoin in another.'
  
  



of course the trasury has been printing more and more little green pieces
of paper (now to be peach or some other vomit-color [another argument])
but that has *nothing* to do with monetary policy except to *reflect*
teh hand-to-hand liquidity we need.
  



and also, please recognize, that federal reserve notes are a 
CLAIM ON A BANK, not a claim on the government. teh gummint is insulated!
  
silver certificates (with the blue seal) are a claim on the government.
  
and to mask some of teh illiquidity that exists every night, even teh
federal reserve notes are un-traceable now! bills used to have teh 
bank-of-issue on teh obverse side, to the left of  the portrait.
  
teh singles in-hadn now still do (series 2001) fed reserve of philidepphia
adn fed reserve of san francisco (to identify two) 
  
however teh 5s and 10s ans 20s now *simply state* 'united states
federal reserve SYSTEM' so you don't know where teh hell teh damn thing
came from (also series 2001)!

response 144 of 536:

Oct 3 21:55 UTC 2003

Re #137:
    What I want is to know that a given quantity of dollars will always buy
at least the same quantity of food, gasoline, housing, or anything else I
might want any number of years from now as it does today. What I *really want
is for the price of everything else in the economy to do what the price of
computers and other electronics has been doing over the past couple of
decades, and to the same degree.

    And it would be nice if interest rates were significantly greater than
inflation.

response 146 of 536:

Oct 4 03:27 UTC 2003

There is no functional difference between a federal reserve note drawn
upon San Francisco or Kansas City.  They are worth exactly the same
amount, circulate in exactly the same way, and probably roll off the
same printing presses after being printed on the same paper with the
same ink.  At best all that it is is an inventory/production tag;
important to the people who bail the stuff up and send it out to the
first bank, but completely irrelevant to how money functions in the
economy.  This is, of course, even supposing that actual paper cash is
really all that important to the economy in the first place - which is
surely getting less and less true.  When you pay for something using a
credit card funded via an electronic fund transfer from an account that
gets filled up with "money" you earned and arranged to have direct
deposited; does it matter what's printed on the green stuff some people
still use for incidental expenses?

Besides "federal reserve notes" and "silver certificates", I ran across
mention of "united states notes".  These seem to have been in
circulation from 1862 through 1923, and may have been briefly issued
during the Kennedy administration too.  There were also "Gold
certificates", which came in a large size and a small size.  Some of the
issues of gold certificates reached general circulation, others were
only circulated between banks.  For while, it was actually illegal to
own a gold certificate.

response 148 of 536:

Oct 4 13:26 UTC 2003

Re #143:  You're wrong, Rane.  The non-locality principle cannot
be used to transmit information.