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862
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Economy / Economics / Re: Who owns and controls the Federal Reserve?
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on: March 15, 2014, 11:29:28 PM
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It's not really profit, it's like if I gave myself a $1,000 loan and charged myself interest. The interest I collect on myself really isn't profit, it's just passing from one hand to the other.
The US citizens end up with a huge debt and the Fed makes a huge profit. It's faux profit. Who is the profit going to? The profit is in keeping the interest rates low so the banks make money. The profit isn't in the interest income itself. It's not faux profit. It is the interest on printed money, so basically it is stealth-taxed from all holders of the US$, both domestically and internationally. |
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863
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Economy / Speculation / Re: SecondMarket Bitcoin Investment Trust Observer
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on: March 15, 2014, 11:23:04 PM
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I'd have to imagine that given the fees involved, most of their clients are going to be long-term holders.
Their fees are much lower than the expecetd changes in BTC price. If an investor believes that BTC may lose 10% of its value in the next year (or whatever time frame he cares for), then he would probably want to liquidate now. If I read correctly, the value already dropped from ~85$ to ~62$ over the last month. So why not wait until it drops to ~$50 and then it really really confirms that the time is to sell? The fact is that SM investors are professionals who know the principle of buy low & sell high, and they also take a long-term view: 2+ years. The current dip is nothing but noise in the long-term view. |
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874
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Economy / Economics / Re: Who owns and controls the Federal Reserve?
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on: March 10, 2014, 12:19:27 AM
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Yes the media makes them seem like part of the Gov, but they are not.
Most of the Fed profits are handed over to the US Treasury, so it knows who the boss is, but Congress is treated with contempt by the Fed. |
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875
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 10, 2014, 12:15:40 AM
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Involuntary takings are theft regardless of who is doing the taking.
Or how. Taxation. That is the obvious one. I was also considering inflation. Yep. And to think that in 1900 both were insignificant for ordinary people. I consider that it is only the explosive growth in science and technology, maintaining living standards, that such a deleterious economic system (inflationary fiat, FRB, debt-money, excessive taxation) has been workable. Thus far. |
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