Member since: Sat Aug 28, 2010, 11:23 AM
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Number of posts: 2,939
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I had no idea about all this.
In 1910, three years before the US Federal Reserve was founded, Senator Nelson Aldrich, Frank Vanderlip of National City (Citibank), Henry Davison of Morgan Bank, and Paul Warburg of the Kuhn, Loeb Investment House met secretly at Jekyll Island in Georgia to formulate a plan for a US central bank just years ahead of World War I.
The result of their work was the so-called Aldrich Plan which called for a system of fifteen regional central banks, i.e., National Reserve Associations, whose actions would be coordinated by a national board of commercial bankers. The Reserve Association would make emergency loans to member banks, and would create money to provide an elastic currency that could be exchanged equally for demand deposits, and would act as a fiscal agent for the federal government.
In other words, the Aldrich Plan proposed a "central bank" that would be openly and directly controlled by Wall Street commercial banks on whose behalf it would solely operate, instead of doing so indirectly, behind closed doors and the need for criminal investigations.
The Aldrich Plan was defeated in the House in 1912 but its outline became the model for the bill that eventually was adopted, as the Federal Reserve Act of 1913 whose passage not only unleashed the Fed as we know it now, but the entire shape of modern finance.
In 1912, one person who warned against the passage of the Aldrich Plan was Alfred Owen Crozier: a man who saw how it would all play out, and even wrote a book titled "U.S. Money vs Corporation Currency" (costing 25 cents) explaining and predicting everything that would ultimately happen, even adding some 30 illustrations for those readers who were visual learners.
The book, which is attached at the end of this post, is a must read, but even those pressed for time are urged to skim the following illustrations all of which were created in 1912, and all of which predicted just what the current financial system would look like.
it seems like a good read.
not sure how we fix it.
Posted by littlewolf | Tue Jun 9, 2015, 08:29 PM (0 replies)
NEW YORK — A tiny deer is generating a giant dose of cuteness in New York City.
The Wildlife Conservation Society sent out a baby announcement Monday. It's a boy!
The southern pudu (POO'-doo) fawn — the world's smallest deer species — was born May 12 at the Queens Zoo.
The fawn is still nursing but soon will be munching on leaves, grain, kale, carrots and hay.
The white spots on his soft brown fur will disappear as he grows up.
In his case, though, "growing up" won't be much of a vertical process.
Southern pudus tend to be around a foot tall at the shoulder.
do not know how to post the picture.
Posted by littlewolf | Mon Jun 8, 2015, 09:01 PM (2 replies)
An elderly Georgetown man says SWAT officers took him to the ground and broke his hip.
His attorney has filed a lawsuit in federal court against the city and county.
The 82-year-old man lives about five blocks away from the sheriff's office in downtown Georgetown.
He says sheriff's deputies and Georgetown police came to his home in full swat gear in late September to serve a search warrant regarding his nephew who had been staying with him.
Video shot by someone driving by that day shows Herman Crisp sitting in a chair on his lawn with a friend. He says when the officers arrived; they threw a flash-bang device at his home, knocking him out of his chair.
He says officers slammed him to the ground and handcuffed him. He says the force broke his hip. He says officers searched his home and before they left, helped him back inside, but didn't call paramedics. His family members say they found him the next day on the floor in his own feces.
more at the link.
of course no one on the police dept will go to jail.
and of course this guy is 82 thin as a rail and black
he was a real threat to those SWAT cops.
I hope he wins a large sum of money and the city fires some folks ...
Posted by littlewolf | Tue May 26, 2015, 03:36 PM (4 replies)
spent the day picking up supplies for the week. the neighbors daughter asked me
why when most of the places are open on monday. I told her .. you know how people will tisk tisk and say what a shame people have to work on a holiday. well if fewer people shopped on the holiday, shops might not open on that day and people will have that day off. she nodded I hope I helped her see.
Posted by littlewolf | Sun May 24, 2015, 09:05 PM (2 replies)
saw this on Bing …
Controversial conservative commentator Rush Limbaugh will no longer be heard on Boston’s WRKO radio station in the coming future.
The Rush Limbaugh Show’s syndicator, Premiere Networks, could not come to an agreement with the Massachusetts radio station and so the show will be dropped, Boston.com reports.
After Limbaugh’s now infamous comments about Georgetown University law student Sandra Fluke, his program, along with many others, have failed to attract the lucrative advertisers that previously purchased airtime on the popular programs. In February 2012, Limbaugh called Fluke a "slut" and "prostitute" after she testified to Congress that the university should provide insurance coverage for contraceptives, The Wall Street Journal reported.
WRKO is home to many prominent conservative voices in the radio industry, including Mark Levin, Jeff Kuhner and Howie Carr, Mediaite reported.
Limbaugh’s program was also recently dropped by an Indianapolis radio station, WIBC. Although Premier Networks charges national radio stations a high fee for its more popular programs, officials say the move was not a financial matter.
“It’s not an inexpensive show to air, so there is a business element to the decision. But this has more to do with the long-term direction of the station,” Charlie Morgan, WIBC’s local market manager, said about the decision.
Posted by littlewolf | Fri May 22, 2015, 08:51 AM (2 replies)
In the last few weeks, state-level stakeholders around the country have been busy reforming renewable portfolio standards, proposing changes to net metering policies, and studying the potential effects of the EPA’s Clean Power Plan. Also, in an unprecedented move, the Hawaii state legislature voted to make electricity generation 100 percent renewable by 2045.
Lawmakers in Hawaii passed legislation last week (in a 74-2 vote) requiring the state to generate 100 percent of its electricity from renewable energy resources by 2045. If HB 623 is signed into law by Governor David Ige, Hawaii will become the first U.S. state to attempt complete decarbonization of the power sector.
Today, Hawaii’s energy mix is more than 80 percent fossil fuel, with oil providing the majority of electricity generation on the islands. However, renewables are growing fast. Hawaiian Electric Company, the state’s sole privately owned utility company, previously determined it would be feasible to reach 40 percent renewables by 2030. Getting to 100 percent by 2045 will be difficult, but not entirely far-fetched.
“As the first state to move toward 100 percent renewable energy, Hawaii is raising the bar for the rest of the country,” said Chris Lee, the Chairman of the House Energy and Environmental Protection Committee and introducer of HB 623, in a statement. “Local renewable projects are already cheaper than liquid natural gas and oil, and our progress toward meeting our renewable energy standards has already saved local residents hundreds of millions on their electric bills.”
Hawaiian regulators are now working to adapt electricity rates to accommodate an increasingly renewable-centric grid. At the same time, there are concerns bubbling up around NextEra’s proposed acquisition of HECO and what it would mean for renewables in the state.
Posted by littlewolf | Wed May 13, 2015, 02:41 PM (22 replies)
just saw this and thought it would be interesting .... comments.
Back in 2012, an investor attending Apple's general meeting asked Tim Cook, the chief executive officer, if he'd ever considered using the company's growing cash stash -- $97.6 billion at that point -- to acquire Greece. "We've looked into many things," but not that, Cook replied. Of course, entire countries can't be bought -- not even in novels, it seems. In Iain Banks's "The Business," such a deal fell through, even though the acquisition target was an obscure Himalayan monarchy, not an old democracy like Greece.
So everyone had a laugh and moved on. Things briefly got better for Greece when it received the biggest bailout in history, and private creditors agreed to a haircut. But its economy still failed to grow, and the country's debt burden, at 175 percent of economic output, remained unsustainable. Apple, in the meantime, more than doubled its hoard, which now amounts $194 billion in cash and equivalents. The company has been paying generous dividends and buying back stock, but the cash pile keeps growing. There's no way to invest it all. For years, Cook has been talking about mind-blowing products his company has in the pipeline, but he's only managed to come up with incremental improvements to existing products, an average streaming music service and an overpriced smartwatch, and these haven't required much capital. Unless Apple starts building cars -- or perhaps spaceships -- it will keep accumulating cash.
As will other big U.S. companies. Non-financial American firms hold $1.73 trillion in cash, 4 percent more than they had a year ago, and $1.1 trillion of that belongs to the 50 biggest companies, according to a recent report from Moody's Investor Services. Apple, Microsoft, Google, Pfizer and Cisco have stockpiled $439 billion.
Most of that money sits overseas, because if it were repatriated, it would be subject to a 35 percent U.S. tax. Spending it, or even giving it back to shareholders, is a pain. No one expects the U.S. to reform its tax system and resolve this issue anytime soon.
Greece needs about 190 billion euros ($212 billion) to bring down its debt to the manageable level of 70 percent of gross domestic product. That's about 48 percent of the five companies' combined cash stash. For paying down the debt, Greece could reward the firms with a special deal on corporate taxes, somewhat like the one Apple now enjoys in Ireland. That sweetheart deal is being investigated by the European Union and is probably doomed. Yet Greece's case is different: The EU, as one of the country's biggest creditors, might be inclined to make a special dispensation to the American companies for helping solve the Greek problem. The U.S. might have some objections, but, as the biggest shareholder in the International Monetary Fund, it, too, stands to lose money if Greece defaults, and the destabilization brought on by a Grexit is certainly not in U.S. interests.
In exchange for less than half of their cash -- and just 13 percent more than it would cost to pay U.S. taxes -- the companies would receive an indefinite, ironclad guarantee of low taxes on non-U.S. operations. Not a bad deal.
Greece, for its part, would get debt relief, plus the companies' European headquarters. Many executives would probably welcome the move to a warm seaside, and Greece would have the beginnings of a powerful tech cluster, which would draw in other companies and create service jobs. With such help, the Greek government could probably afford to be less austere than its creditors want it to be. But it would still need to reform inefficient public services and become more business-friendly, or risk missing out on the obvious benefits of working with the tech titans.
more at the link.
Posted by littlewolf | Wed May 13, 2015, 08:23 AM (1 replies)
I would love to by on this jury .....
RALEIGH, N.C. — A Raleigh police officer who got a free cup of Starbucks coffee is suing the company for $50,000 after he spilled it and got burned.
Posted by littlewolf | Fri May 8, 2015, 09:14 AM (3 replies)
New Zealand has recently joined ranks with the 28 countries of the European Union, Israel, India, and the Brazilian state of Sao Paulo by declaring that ‘there is no use for testing cosmetics on animals – ever’.
The latest move of New Zealand’s government is to ban animal testing for “finished cosmetic products and their ingredients” – which has never happened in the country – and now, likely never will.
The amendment to the Animal Welfare Amendment Bill passed a debate phase on Tuesday, and is now expected to be enacted into law within the coming weeks. The Primary Industries Minister, Nathan Guy, applauded the symbolic move.
“To the best of our knowledge, there has never been any animal testing for cosmetics in New Zealand, but this amendment will send an important message this kind of testing is unacceptable to New Zealanders and will never happen here,” Guy said, according to a press release.
New Zealand is a very unpopular place for animal testing according to a recent poll. A survey conducted found that 89 percent of adults in the country do not support the practice. Cosmetic testing, which can involve rubbing chemicals onto animals’ shaved skin or dripping toxins into their eyes, is widely considered to be a cruel practice – regardless if the animal is a guinea pig, rabbit, rat, or other small critter.
just found this
Posted by littlewolf | Sat Apr 25, 2015, 08:18 PM (2 replies)
A Colorado elementary school teacher's simple lesson to get to know her third graders has turned into a social media campaign after she learned most of her students lead heartbreaking lives.
Kyle Schwartz, a new teacher at Doull Elementary in Denver, was touched by the painful secrets her students revealed after she asked them to write down something they would like her to know about them.
"I wish my teacher knew I don't have (pencils) at home to do my homework," one youngster wrote.
"I wish my teacher knew I don't have friend to (play) with me," another shared.
"I wish my teacher knew how much I miss my dad because he got deported to Mexico when I was 3 years old and I haven't seen him in 6 years," read another.
Most of her class comes from underprivileged homes, Schwartz told ABC News.
"Ninety-two percent of our students qualify for free and reduced lunch," she said. "As a new teacher, I struggled to understand the reality of my students' lives and how to best support them.
“I just felt like there was something I didn't know about my students."
Schwartz, who has been teaching for three years, is now encouraging other instructors to reach out to their students through an #IWishMyTeacherKnew social media campaign.
Posted by littlewolf | Fri Apr 17, 2015, 04:00 PM (0 replies)