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Damedius

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#1  Edited By Damedius
Member since 2010 • 737 Posts

@Baconstrip78 said:

@Damedius: It’s the best system we have. And again what’s the alternative? Let banks set their own reserve requirements again and borrow from the government via printing press? We did that, and the reserves the banks kept to cover deposits was zero dollars.

I prefer regulating money supply via loans and RR rather than printing. Too many countries went down that path to their own ruin. And tying it to gold or silver as some sort of redline is absurd and would stifle growth.

What happened when the Fed increased the money supply and went to near zero interest rates? What has happened since the fed started to contract the money supply and increase interest rates?

Should one independent organization have that much control over the American economy(and in turn the world's economy)?

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#2 Damedius
Member since 2010 • 737 Posts

@Baconstrip78 said:

@mattbbpl: Agreed. The money supply cannot be a pump and dump scam like the federal budget deficit has become. We can’t go down the rabbit hole of spend-spend-spend print-print-print and let the next elected politician deal with the consequences.

People who scream about abolishing the fed are failing to see what the alternative looks like.

It already is.

I amazed at how little Americans know about the Federal Reserve. You figure in 12+ years of schooling they would have taught you something about it.

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#3 Damedius
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@MirkoS77 said:

You again?

How do you have time to post? Shouldn't you be fighting a war somewhere?

Making the world safe for democracy and all that.

Or are you one of those chicken hawks?

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#4 Damedius
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@MirkoS77 said:

@Jacanuk: I can't believe you're citing American imperialism as a defense for us withdrawing our support for fighting against ISIS. Get a clue as to what ISIS is about, then respond. Otherwise you just look like the ignorant Trump apologist you are. You damn well know if Obama had made this move you'd be singing a completely different tune. Hack...

Only once all the countries of the world lie in ruins will the American Empire truly be safe.

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#5 Damedius
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@HoolaHoopMan said:

Making things look a little bleaker, Trump is looking for a way to oust his own pick for Fed. chair. Politicizing the Fed could potentially be one of the worst things he could do, or even attempting to do so could cause even more panic. Trump doesn't care about any long term outlook and clearly doesn't understand the basic fundamentals of economics other than looking at a stock ticker with an arrow pointing upwards or downwards.

He better not fire him. I'm counting on the Fed to bring down this house of cards.

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#6  Edited By Damedius
Member since 2010 • 737 Posts

So you have a government shutdown over the weekend and during the holidays.

Sounds like standard government operating procedure where I live.

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#7  Edited By Damedius
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@letsruletheward said:

@Damedius:

@Damedius said:

America is the only nation that can handle the burden of being the country that everyone hates for their Freedom.

They are also the only exceptional and indispensable nation in the world.

We can only hope that America occupies the rest of the world so that we can all be free.

None of that has answered my question......... my question, is would the world be better off if Europeans was leading the world and judging by your comment, it just proves my point that they are incompetent and just suck at it and should be replaced. Also, according to many, time is running out, they are not going to last long in that position, in fact many say that they are not going to last long period.

The world will needs a better supa powah and I believe that it should be you. I'm assuming of course that you are European based on how whiny your post was.

The Strong Do What They Can, And The Weak Suffer What They Must - Thucydides

America is an Empire and no country is in any position to challenge them. The closest thing to a rival they have is China and that is just a financial challenge. Militarily it isn't even close. If you have been paying attention America has decided to take care of this by having the world pick between them and China. That's what this trade war is about. It's about maintaining dominance and ensuring China never becomes a threat.

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#8 Damedius
Member since 2010 • 737 Posts

https://www.bbc.com/news/world-us-canada-46638323

The US justice department has indicted two Chinese men accused of hacking into the computer networks of companies and government agencies in Western countries.

The pair are allegedly part of a "hacking group" known as Advanced Persistent Threat 10, affiliated with China's main intelligence service.

They have not been arrested.

The US and UK have accused China of violating an agreement relating to commercial espionage.

Zhu Hua and Zhang Shilong worked for a company called Huaying Haitai and in association with the Chinese Ministry of State Security, the US court filing says.

The Federal Bureau of Investigation (FBI) said that from at least 2006 until 2018, the two extensively hacked into computer systems with the aim of stealing intellectual property and confidential business and technological information from:

at least 45 commercial and defence technology companies in at least 12 US states

managed service providers (MSPs) and their government and commercial clients in at least 12 countries, including the UK, Brazil, Canada, Finland, France, Germany, India, Japan, Sweden, Switzerland, and the UAE, as well as the US

US government agencies

The FBI said they had also hacked into US Navy computer systems and stolen the personal information of more than 100,000 personnel.

FBI director Christopher Wray said the two men were at present "beyond US jurisdiction".

'Economic aggression'

Announcing the unsealing of the indictments, US Deputy Attorney General Rod Rosenstein said China had violated a 2015 agreement under which it had pledged to not engage in commercial cyber-spying.

https://www.theglobeandmail.com/politics/article-canada-joins-us-uk-in-calling-out-china-for-state-sponsored/

Canada has joined major allies including the United States and Britain in identifying China as the country responsible for a state-sponsored hacking campaign to steal data from military service members, government agencies and private companies in the United States and nearly a dozen other countries.

Canada’s statement from the Communications Security Establishment was not as strong as the disapproval registered by some allies. The Americans called it “outright cheating and theft,” the British said China must stop what it called “the most significant and widespread cyber intrusions against the U.K. and allies uncovered to date” and the Australians expressed “serious concern” about Beijing’s “intellectual property theft.”

The Communications Security Establishment, for its part, merely named China as responsible, saying that it is “almost certain that actors likely associated with the People’s Republic of China (PRC) Ministry of State Security (MSS) are responsible for the compromise … beginning as early as 2016."

The international censure of China comes amid increasing diplomatic tension with Canada over potential Chinese state influence in this country’s networks. Ottawa has been weighing whether to allow China’s flagship tech company, Huawei Technologies, to supply gear for next-generation 5G mobile networks. Chinese law requires companies in China to “support, co-operate with and collaborate in national intelligence work” as requested by Beijing. Three of Canada’s closest military and intelligence allies – the United States, Australia and New Zealand – have already barred Huawei from these future networks for national security reasons.

U.S. officials in Washington on Thursday accused two Chinese citizens acting on behalf of China’s main intelligence agency of leading the hacking operation. The two Chinese citizens in this global hacking campaign are accused of breaching computer networks in a broad swath of industries, including aviation and space, banking and finance, oil and gas exploration and pharmaceutical technology. U.S. prosecutors say they also compromised the names, Social Security numbers and other personal information of more than 100,000 U.S. Navy workers.

I think this trade war is only going to keep escalating. China is the new enemy number one.

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#9 Damedius
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@MirkoS77 said:

You sound like a liberal.

"Invaders and not liberators"? ISIS?? Have you even seen the videos from these people??? They're monsters, they are the epitome of evil. Let's not equate this to the Iraqis wanting us out of their country because we're invading them under the pretense of liberation. "Trying to force our way of life on them"? Again, ISIS? Uh, hello? Are you for real? We're doing (or at least, we were before Trump) everything in our power to stop them from trying to do the same to us. This isn't about liberation or trying to "force" our way of life on others, this is about combating an abhorrent ideology that transcends geography in its hatred and desire for the utter destruction and eradication of western values. Civilized society would cease to exist if ISIS had their way.

I don't believe we should be anywhere imposing our own lifestyle and values upon others, but with regards to ISIS, this isn't about that. These people are out of their minds, go onto bestgore and see for yourself. And right now, you can be assured they're celebrating our withdrawal. If you honestly believe that pulling out is going to quell their desire to crush us and the values we stand for because we're no longer "imposing" our lifestyle on them, boy, you are beyond naive and ignorant. All we will be doing by Trump's mandate is inviting them to bring the battle to our shores instead of fighting it on theirs. And then what will you do when our blood is shed by your own myopia? Predictably blame Democrats or bring about a new "whataboutism", as you typically do to shift blame for your own irresponsibility to excuse nothing but your own blind partisan hackery.

Please occupy the world faster.

We need you to bomb us into freedom.

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#10 Damedius
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https://thehill.com/homenews/administration/422356-trump-officially-legalizes-industrial-hemp

President Trump legalized the cultivation of industrial hemp Thursday when he signed a widespread, bipartisan farm bill aimed at boosting the agriculture industry.

The fiber of hemp, a non-intoxicating derivative of the cannabis plant, is used to make a variety of products, such as cardboard, carpets, clothes, paper and more.

Hemp production and sales have historically been illegal under the same federal prohibition against marijuana. The farm bill only deals with industrial hemp and does not address recreational or medical marijuana.

Senate Majority Leader Mitch McConnell (R-Ky.) worked with Sens. Rand Paul (R-Ky.), Jeff Merkley (D-Ore.) and Ron Wyden (D-Ore.) to introduce a bill to legalize hemp, which was ultimately included in the farm bill.

"I used my very own hemp pen to sign the conference report, clearing the way for the House and Senate to pass legislation and send it to the president's desk. I'm proud that the bill includes my provision to legalize the production of industrial hemp. It's a victory for farmers and consumers throughout our country," McConnell said when the Senate advanced the farm bill earlier this month.

The farm bill helps removes obstacles farmers face in growing hemp, including restricted access to banking, water rights and crop insurance. Hemp is easier to grow than cotton, corn or soybeans as it requires little water and can be viable in lower-quality soil that is not practical for other crops.

The hemp provision is just one of several aspects of the farm bill meant to aid farmers as exports of agricultural products such as soybeans take a hit as Trump engages in a bitter trade war with China and other countries.