Posts by Giordano

35

Anyone understand the Federal Reserve System?

by AK - Jeff in

but i want to educate myself.

like all jw's, i didn't give a shit about those sorts of things, unless there was an article in the magazine we were placing that month.

and even then, a very shallow understanding is all that i wanted or needed to 'place' the magazine.

Giordano

Sorry for the small print, couldn't get it normal size

35

Anyone understand the Federal Reserve System?

by AK - Jeff in

but i want to educate myself.

like all jw's, i didn't give a shit about those sorts of things, unless there was an article in the magazine we were placing that month.

and even then, a very shallow understanding is all that i wanted or needed to 'place' the magazine.

Giordano

The Federal Reserve is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States.

You can divide the Federal Reserve’s duties into four general areas:
1. Conducting monetary policy
2. Regulating banking institutions and protecting the credit rights of consumers
3. Maintaining the stability of the financial system
4. Providing financial services to the U.S. government

Meaning, that although the bank does make money… it is the central and sole government-bank that effectively manages all of the cash flow in the United States.

Elizabeth A. Duke Federal Reserve Governor

At the University of North Carolina Kenan-Flagler Dean's Speaker Series, Chapel Hill, North Carolina.

"The Federal Reserve is an independent entity within the federal government in that its decisions do not have to be ratified by the President or any other executive branch official. The Congress, through the Federal Reserve Act, sets the Federal Reserve's goals and oversees it, but the Federal Reserve decides independently how to achieve its congressionally mandated goals. The ability to make monetary policy decisions that are free of short-term political influence is critical for central banks. This is especially true because the effective conduct of monetary policy requires a long-term perspective. A central bank that is subject to political pressure might opt for policies that favor rapid expansion in the near term at the expense of higher inflation in the future. Such actions would surely result in the loss of the confidence and credibility that are needed to achieve the objectives of monetary policy. Indeed, research has shown that countries with independent central banks have better economic performance and lower inflation than countries whose central banks are not independent.

The structure of the Federal Reserve is uniquely American in its decentralization. The Federal Reserve System is made up of the Board of Governors in Washington, D.C., and 12 Federal Reserve Banks across the country. The seven members of the Board of Governors are nominated by the President and confirmed by the Senate. Each Reserve Bank has a board of directors drawn from business, public, labor, nonprofit, and banking leadership within its district. In consultation with the Board of Governors, the Reserve Bank directors choose a president to run the bank.The Board of Governors oversees the Reserve Banks and is responsible for formulating bank regulations; supervising banks; and for making decisions regarding lending, other than discount window lending, to depository institutions.

The Federal Reserve was originally created to guard against financial panics. But in modern times, many people think of its primary role as responsibility for monetary policy. The Congress has given the Federal Reserve two objectives, known as our dual mandate, to foster maximum employment and price stability. In its conduct of monetary policy, the Fed influences the level of output and the level of prices in the economy through changes to interest rates and credit conditions.

The Reserve Banks provide financial services to depository institutions, the U.S. government, and foreign official institutions, including making discount window loans and playing a major role in operating the nation's payments system. Under delegated authority from the Board, the Reserve Banks also conduct on-site supervision of bank holding companies and state-chartered banks that choose to join the Federal Reserve System.

Monetary policy decisions are made by the Federal Open Market Committee (FOMC). While all 12 Reserve Bank Presidents and all members of the Board of Governors participate in FOMC discussions, the voting members of the FOMC are made up of the members of the Board of Governors, the President of the New York Reserve Bank, and four of the remaining Presidents on a rotating basis.

The culture of the Federal Reserve is an interesting blend of government, academia, and business. Differences of opinion regularly occur, but they are a source of strength rather than conflict within the institution. They add liveliness to the debate and richness to the decisionmaking process. The System is a treasure trove of data, research, and institutional memory about the economy and the financial system."

283

Osama bin Laden is Dead

by jamiebowers in

on abc special news bulletin now..

Giordano

Recently the issue of Obama being unarmed has come up (If this has been covered before, sorry) .

The 911 attack killed 3000 innocents who were also unarmed. You reap what you sow.

98

The "WOW!!" moment...Theocratic Ministry School was a sham!

by Terry in

jw
friends

i just remembered something from long ago..... i moved to california in 1974 after i had been in "the truth" for 11 years, having full-time pioneered and also having served time in federal prison over the so-called christian neutrality issue.. i felt completely confident that my bible education was the best on planet earth.

i had honed my skills by door to door preaching, discussion, arguments and attendance at the theocratic ministry school.. i began working as an artist in a huge company that manufactured all kinds of art, sculpture and wall hanging.

the head of the artists was a wonderful young man, skilled artist and devout christian who took me under his wing.

Giordano

In 1964 or 1965, I was pioneering with my wife. Chairman Mao had brought out his little red book and the news media showed pictures of the happy faces of the Chinese people holding the books up and chanting. I think I was at an assembly though I can't remember. We had a red book at the time and the speaker was going to quote from it and everyone gabbed up their copies and I could see red books being held up all over the place and I thought 'WOW we're like the Chinese communists everyone having to read from the same page at the same time from our own little red book!' My fade had started.

24

Searching for non bias news and information sources.

by Joliette in

jw
friends

is there any good ones?.

Giordano

I start with morning Joe on MSNBC while MSNBC swings to the far and middle left in the evenings the morning show is hosted by a very conservative host who's an ex congressman and co hosted by a liberal. Their guests are a mix of progressives and conservatives. The show can be annoying (the host doesn't know when to shut up a problem on both sides of the spectrum) at times but its informative. I jump over to CNN as well but it is bland in comparison.

I also tend to fact check anything that sounds a little 'off'.

After that I go on line and look over the New York Times, Wall St Journal, and Washington Post. I just skim the news and don't get into it deeply unless it's a subject I'm interested in. Look over the opt Ed pieces...same approach.

I never go to Fox they as they are untrustworthy, not their news but their commentators. Nor do I listen to far right talk show hosts like Rush or Beck etc. neither will accept phone calls from people on the left so they are never challenged. Without healthy debate you have a harder time getting to the truth. Truth ....it just occured to me that without debate the WT has been free to lie to it's followers since it's inception.

NPR does a good job during the day but they don't get into confrontational subjects.

I stay away from progressives in the evening though if I am going to watch one it would be the Rachael Maddow show. She's up front about her beliefs but tends to be fair. She's also ready to come back on the air the next night and apologize if her 'facts' were wrong.

Oddly enough Jon Stewart does an excellent job of handling the absurb aspects of politics. And finally I look over the poltical threads on this forward since one can find all kinds of opinions etc. If the tone was more civil I'ld participate more.

23

Pennsylvania witnesses shot at

by Siddhashunyata in

jw
friends

http://www.poconorecord.com/apps/pbcs.dll/article?aid=/20110501/news90/105010338/-1/news.

Giordano

"That's when her husband, William George Kalapach, went inside his home and got his rifle. The women were walking to their car, where three other people were waiting, when Kalapach said they weren't moving fast enough, state police at Swiftwater said.

Police said he fired four shots into the ground near the car with all five females inside.

He is now in Monroe County Correctional Facility, charged with aggravated assault and other charges.

"This is a Catholic home," Rhonda Kalapach said. "This is a devout home."

She said the evangelists ignored repeated demands from her and her husband to leave, forcing her husband to react the way he did."

Might be a good idea put that house on the 'do not call list'.

46

Do you find some famous "attractive" people unattractive?

by Iamallcool in

jw
friends

i do not find cindy crawford and julie roberts attractive.

it is just me.

dont throw rocks at me.

Giordano

I agree with the comments of most of you: However there are some up and comers ready to take their place.

http://www.youtube.com/watch?v=Dj6zCJyTq2I

Saoirse Ronan, a very young and excellant actress, stars as 'Hanna' she gets more beautiful and deadly in every scene.

And Jennifer Lawrence, who was in 'Winters Bone', will be the lead in "The Hunger Games", A real life and death experience which unlike the TV show Survivor, is really about life or death.

Both of these actresses will be the new generation that we'll be seeing more of in the years to come

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