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Posts by Technogeeb

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  • A compromise on auditing the Fed?

    08/04/2009 12:59:22 AM PDT · 131 of 133
    Technogeeb to Toddsterpatriot
    It's complicated and I'm in over my head.

    No, I simply gave you the benefit of the doubt that your questions were genuine rather than an attempt at trolling. You asked some very ignorant questions, and any valid answers to those questions are more than can be covered in a short post.

    The sad thing is that you still don't grasp the connection between M3 and the Fed buying treasuries. Or perhaps that is just an attempt to continue your trolling.

  • A compromise on auditing the Fed?

    08/04/2009 12:46:14 AM PDT · 130 of 133
    Technogeeb to Toddsterpatriot
    The Fed doesn't buy Treasuries at auctions.

    You are wrong, and you missed the whole point of the original post and the reason for why it is important for the Fed to publish M3.

  • A compromise on auditing the Fed?

    07/30/2009 10:59:08 PM PDT · 124 of 133
    Technogeeb to 10Ring
    The first part was obviously false, since Bernanke was not Chairman

    You are mistaken.

    In the second part you commit a false dilemma by insisting there is no other possible cause except for the sinister.

    Sinister reason, not cause.

    Somehow you are still arguing that the reader should know which meaning you are using for "sinister". Why?

    Because words mean things. Just because some of you don't know what words mean doesn't mean the rest of us are no longer allowed to use those words.

    Do you really believe that the only "logical" reason to cease publishing M3 is "sinister"? That there is absolutely no other logical choice?

    Yes. All the logical reasons are sinister.

    If the only logical option is evil, why would this preclude a satanic quality? After all, Satan would have us choose evil over good 10 out of 10 times.

    Once again, I can't be held responsible for other people not knowing what words mean, especially when the definition has been provided. Some of you seem to be confusing the word sinister with diabolical. If I had meant diabolical, I would have used that word instead.

  • A compromise on auditing the Fed?

    07/29/2009 11:53:37 AM PDT · 112 of 133
    Technogeeb to expat_panama
    Actually, there are a number of meanings

    No doubt; people make up additional meanings to words all the time. My usage happens to be the meaning you'll find in a dictionary that the word has had for hundreds of years.

    Looking at what sinister and evil mean to others shows how that word may not have been what you meant.

    I used the word sinister because that is exactly the meaning I intended. From the first definition in your link "threatening or portending evil, harm, or trouble; ominous".

    Then again, my complaining about your ability to communicate opens the door to your complaints about my attempts at humor.

    When I use a word intending the meaning expressed in a dictionary, and you claim some other unrelated meaning ("satanic"), I would suggest to you that I am not the one lacking in communications skills. But perhaps I simply lack an appropriate appreciation of your non sequitur humor; if you or someone else found your post funny, then I suppose it served its purpose and I'm glad I could contribute to making your day a bit brighter.

  • A compromise on auditing the Fed?

    07/29/2009 11:39:41 AM PDT · 110 of 133
    Technogeeb to Toddsterpatriot
    Any luck proving your claim?

    There's no real point when all it takes to prove it is to go to google and type "Fed buying treasuries". You've already demonstrated that you're unwilling to educate yourself, so I see no point in feeding what is obviously a troll.

  • Hutchison says she will resign in October or Novemeber (special election in May 2010)

    07/29/2009 11:35:03 AM PDT · 14 of 107
    Technogeeb to basil
    Problem is, who do we have that we can get behind to be the governor of TX?

    Jerry Patterson would make an outstanding governor.

  • A compromise on auditing the Fed?

    07/28/2009 7:18:02 PM PDT · 88 of 133
    Technogeeb to expat_panama
    No, where we went wrong was your saying the Fed's logic was 'sinister' -- i.e., satanic. That's a bit of a hyperbole. I was poking fun at your blaming the devil.

    That's not what sinister means (the root is from the latin word for unlucky or ominous, and has nothing to do with "the devil").

  • A compromise on auditing the Fed?

    07/28/2009 12:12:24 AM PDT · 55 of 133
    Technogeeb to Toddsterpatriot
    The Fed doesn't buy Treasuries at auctions.

    You are wrong; you should try to educate yourself about how the Fed works. For example, they bought ~$122 billion in the late March auction alone.

    LOL! When was the last auction where the Fed participated? How much did they buy?

    So I guess that is an admission that you're not paying attention? Nice scam; hide the evidence (M3) and then claim that the since the easiest way to detect the crime is no longer available that the crime didn't happen.

    Not that it matters any more, since the Fed is doing it openly now.

  • A compromise on auditing the Fed?

    07/27/2009 9:24:23 PM PDT · 50 of 133
    Technogeeb to Toddsterpatriot
    The Fed doesn't buy Treasuries at auctions.

    You've apparently not been paying attention.

  • A compromise on auditing the Fed?

    07/27/2009 9:09:48 PM PDT · 48 of 133
    Technogeeb to Toddsterpatriot
    Please explain when it's not true.

    The simple answer is when the Fed buys them, but the issue is quite a bit more complex than that (as I've already mentioned before in this topic, I would suggest you search the web to find appropriate books and videos that describe the Fed's role, because it is more than can be adequately described in a short post).

  • A compromise on auditing the Fed?

    07/27/2009 8:44:54 PM PDT · 46 of 133
    Technogeeb to Toddsterpatriot
    Dollars are not created by Treasury auctions.

    This can be true. It could be that such auctions might be purchased by Britain, or the Chinese, or from some large institutional fund or account whose manager would prefer to hold the bonds instead of previously obtained dollars. In these cases there is no creation of new dollars, simply the transfer of existing dollars back to the US (at the price of additional US debt).

    One would hope that the need for M3 under such conditions would be even more obvious.

  • A compromise on auditing the Fed?

    07/27/2009 8:05:01 PM PDT · 40 of 133
    Technogeeb to Toddsterpatriot
    What is an "inconsistency between the real money supply and the auctions"?

    What auctions are you talking about?

    This is a subject that gets somewhat complex; I apologize for assuming a certain level of audience knowledge about how the Fed and the Treasury works, and how dollars are (supposed to be) created.

    I could attempt to explain, but in all honesty any short description would leave out important (relevant) details. I would suggest searching the web to find appropriate books and videos that describe the Fed's role in creating money in collaboration with the Treasury Department (or at least, how the process is supposed to work), which can no doubt do a better job at describing the process than any short post here could.

  • A compromise on auditing the Fed?

    07/27/2009 7:48:20 PM PDT · 38 of 133
    Technogeeb to expat_panama
    Hey, don't blame me, it was all Ben's doing.

    You misunderstand if you think I'm trying to lay the blame for the current economic house of cards on Bernanke. As much as the Fed claims to be an independent corporation, they still take their role in trying to manage the unmanageable seriously. They have no control over the real villain, which is excessive deficit spending by government which requires the creation of more money when government issues bonds to pay for that spending. I seriously doubt that anyone at the Fed has done what they have done because they thought it would be fun or might personally enrich themselves; they did it because they had to in order to keep a fiat currency afloat. But just because they did so for what they probably felt were noble reasons does not make it any less sinister. Ultimately, what they are doing is counterfeiting.

  • A compromise on auditing the Fed?

    07/27/2009 7:36:34 PM PDT · 32 of 133
    Technogeeb to Toddsterpatriot
    You can't get large denomination deposits and institutional money funds from somewhere else?

    Feel free to try. Some people do make the attempt, and the numbers look catastrophic if they are accurate. But that is part of the problem, since those numbers from other sources aren't "official" like Fed numbers would be.

    What is it about large denomination deposits and institutional money funds that allows the Fed to cook the books?

    A clear view of the real money supply (that M2 doesn't provide), which compared to auctions would allow the detection of inconsistencies.

  • A compromise on auditing the Fed?

    07/27/2009 7:23:18 PM PDT · 27 of 133
    Technogeeb to Toddsterpatriot
    What do you need from M3 that you can't get from M2?

    The Fed said the same thing, but it doesn't make any sense as a question. M2 doesn't include large denomination deposits, institutional money funds, etc. Saying M3 doesn't matter because we know M2 would be like saying we don't care about the Atlantic ocean because we have a good idea of what the Mississippi river is like.

    Hiding M3 lets them cook the books and get away with it much more easily than if they published the numbers.

  • A compromise on auditing the Fed?

    07/27/2009 7:08:19 PM PDT · 21 of 133
    Technogeeb to listenhillary
    I thought that pre-dated Bernanke?

    It was one of the first things he did, IIRC. He took the position in February and they stopped publishing M3 in March or April of 2006.

  • A compromise on auditing the Fed?

    07/27/2009 6:41:15 PM PDT · 9 of 133
    Technogeeb to expat_panama
    Long before he came to Washington, Mr. Bernanke argued for greater Fed transparency in the belief that it would help stabilize markets and that the public has a right to know. At the Fed, he

    At the Fed, he stopped publishing M3. The only logical reasons for doing that are all sinister.

  • SEC rule on 'naked' short-selling now permanent

    07/27/2009 5:47:02 PM PDT · 11 of 11
    Technogeeb to Flavius
    what is the new scam that we are going to read about in 10 yrs

    Carbon credits, if Congress passes the Waxman-Markey bill.

  • H.R. 45 (gun control is here)

    07/26/2009 5:22:30 PM PDT · 41 of 55
    Technogeeb to DariusBane
    because the intrastate and interstate trafficking of firearms are so commingled, full regulation of interstate commerce requires the incidental regulation of intrastate commerce;

    Death to tyrants.

  • Romney 2102? Two Words: Romney Care

    07/20/2009 8:51:02 PM PDT · 60 of 66
    Technogeeb to Peter Horry
    So why are you here wasting our time by telling us you won’t waste your time on us?

    Because I'm on strike, and this is my picket line.

    A terrible catastrophe is coming to what used to be the best medical system on the planet, all because of scheming greedy politicians who have convinced ignorant greedy leeches that they can have "free" medical care because it is their "right".

    Providing a real solution is irrelevant, because the people pushing this have no desire to see inexpensive health care, or even universal health care. The only "universal" thing they want is universal power of life and death over those subjects they've deceived into believing they can get something for nothing. Since this issue has nothing to do with health care (except as a vehicle to more government power), providing a health care solution is a waste of time.