OT: Ray, how's your Bitcoin investment going?

[Ahneida Ride]

Actually frns = bitcons..

almost all frns are not paper (cash) ....
they are just data entries in a computer spreadsheet.

We are not FORCED to accept bitcons ...
We are COMPELLED to accept frns.


frn = non federal non reserve non note

The fed is a private central bank, you will not find it in the phone book
under government agencies. No more federal the fed ex.

It has no reserves ...

It's notes do not specify the terms of redemption, hence are NOT notes.

[goonster]

Originally Posted by Ahneida Ride

No more federal the fed ex.

The Fed was created by an act of Congress, and its board is appointed by the President.

So, yes, it is more federal than FedEx.

[ClutchCargo]

Originally Posted by Ahneida Ride

Actually frns = bitcons..

almost all frns are not paper (cash) ....
they are just data entries in a computer spreadsheet.

We are not FORCED to accept bitcons ...
We are COMPELLED to accept frns.


frn = non federal non reserve non note

The fed is a private central bank, you will not find it in the phone book
under government agencies. No more federal the fed ex.

It has no reserves ...

It's notes do not specify the terms of redemption, hence are NOT notes.

Really?
So what?

[jlwdm]

It is interesting to go back and read the the two bitcoin threads from April and May. The first thing to note is do not take financial advice from a bike forum.

Bitcoins are volatile and who knows where they will go from here, but they have gone up 10 times since April.

The Winklevoss twins are up $100m since this thread if they are still holding.

Virgin Galactic will accept bitcoins for space travel and someone just bought a Tesla S with bitcoins. No real risk as the sellers immediately lock in a price for the bitcoins.

Jeff

[Louis]

Buy low, sell high.

[jpw]

but who is satoshi nakamoto? 'he' mined straight the first several hundred thousand bitcoins, and holds a position to move the market, up or down.

the bitcoin hash was created by the NSA.

China is not stupid.

[Germany_chris]

I was going to chime in and say they hit $1000 but looks like that's been done

[Fishbike]

Rather invest in silver Campy. . .

[Cantdog]

Originally Posted by Fishbike

Rather invest in silver Campy. . .

This comment did not age well

[Ahneida Ride]

Congress has relinquished is fiduciary responsibility to a private corporation.
It return, it gets all the funding it needs via a back door method.
The private corporation gets to create $ outa thin air and charge interest
on nothing. The subsidiaries of the private corporation (commercial banks)
can then the practice the Ponzi Scheme of "fractional reserve" knowing that
the private corporation is there is bail em out.

We the people looses about 6% per year of our purchasing power.
This fed reserve dilution tax is the most pernicious tax of all.
We now rent out homes, cars and educations from banks.

Since this private bank controls our nations money supply, It
controls the politicians.

-----------------

"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

"Whoever controls the volume of money in any country is absolute master of all industry and commerce." — James A. Garfield, President of the United States

"I believe that banking institutions are more dangerous to our liberties than standing armies.
Already they have raised up a monied aristocracy that has set the government at defiance.
The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." — Thomas Jefferson, U.S. President.

"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance." — James Madison

"People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest ...But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan." — THOMAS A. EDISON

and finally ....

The last President to circumvent the fed, issuing United States Notes ,was the Honorable John Fitzgerald Kennedy.

[Pete Mckeon]

Some i do not agree with Ray and some I do agree but it is a healty conversation over beer or RED wine

I think we are losing at least 6% annually---- for the CPi does not include energy(oil and by products, food, nor cost of medical. In fact there is movement trying to further change Cpi which is tied to Social Security and other compensations. Changing CPI will hide the real costs. AS MOST PEOPLE HAVE FOUND WITH SALARY increases vs cost of living. Many things are changing but that is life


Bitcoin is talked about alot but it will not work across muliple countries.

I will bet $$ s on it. With all the bashing, the US$ is the foundation worlwide. ....for at least the next 20 years

!!!!!!!!!!!!!!!!!!!!!!!!!!
Yep, will bet Red wine and a ride in NAPA
[/B]QUOTE=Ahneida Ride;1463758]Congress has relinquished is fiduciary responsibility to a private corporation.
It return, it gets all the funding it needs via a back door method.
The private corporation gets to create $ outa thin air and charge interest
on nothing. The subsidiaries of the private corporation (commercial banks)
can then the practice the Ponzi Scheme of "fractional reserve" knowing that
the private corporation is there is bail em out.

We the people looses about 6% per year of our purchasing power.
This fed reserve dilution tax is the most pernicious tax of all.
We now rent out homes, cars and educations from banks.

Since this private bank controls our nations money supply, It
controls the politicians.

-----------------

"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

"Whoever controls the volume of money in any country is absolute master of all industry and commerce." — James A. Garfield, President of the United States

"I believe that banking institutions are more dangerous to our liberties than standing armies.
Already they have raised up a monied aristocracy that has set the government at defiance.
The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." — Thomas Jefferson, U.S. President.

"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance." — James Madison

"People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest ...But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan." — THOMAS A. EDISON

and finally ....

The last President to circumvent the fed, issuing United States Notes ,was the Honorable John Fitzgerald Kennedy.[/QUOTE]

[Pete Mckeon]

[verticaldoug]

Originally Posted by Pete Mckeon

Some i do not agree with Ray and some I do agree but it is a healty conversation over beer or RED wine

I think we are losing at least 6% annually---- for the CPi does not include energy(oil and by products, food, nor cost of medical. In fact there is movement trying to further change Cpi which is tied to Social Security and other compensations. Changing CPI will hide the real costs. AS MOST PEOPLE HAVE FOUND WITH SALARY increases vs cost of living. Many things are changing but that is life

Pete, CPI includes energy, food etc:

FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks)
HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
APPAREL (men's shirts and sweaters, women's dresses, jewelry)
TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance)
MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services)
RECREATION (televisions, toys, pets and pet products, sports equipment, admissions);
EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories);
OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).


The inflation you feel is primary driven by high frequency purchases. So if gas at the pump, food prices are increasing (which they are), inflation feels high. However, less frequent purchases, (appliances, housing etc) may be increasing at a much slower rate. Hence the CPI looks low. For most people, rent equivalent, and energy are the two largest parts of the budget. For most of the U.S., housing has depressed the rent equivalent calculations helping to keep CPI low.

Chain CPI which is what you are referring to for SS Colas etc is a much nastier animal. Essentially the gov decides people can substitute down, so as prices go up, you will change your spending habits and buy cheaper stuff. Literally they count on your going from Banana Republic to the Gap to Old Navy eventually to goodwill. This is a nasty cycle. See Japan for details.

For as much as Paul Krugman gets bashed lately, you need to see his comments on 'Rent Seekers' to really understand what the elites are doing to the economy.

There is a turkish saying: If you hold the honey pot, you get to lick your fingers.

[Pete Mckeon]

I appreciate your explanation/education but I can tell you from what I see that starting with 100k in expenes the total expeditures has increased more than 2 % per annum. I am in same houseshold so that is a constant except for taxes, electricity and upkeep. Medical for my first year of medicare, and having the new retirement from IBM HAS risen in double digit because we were lucky to have the taxable income.
That is not even counting extra funds spent because of 3500 you pay first for specific hospital I spent over $25k last year due to cancer deductibles. I can go into a lot more detail but all expenses for the year were more than a 2% increase. I am fortunate and did ok and also got retirement and maxed 401k. 'Out of pocket' costs per annum, I hope only increase to what they are and it has been more than 5% for me.
.

I really feel bad for people in their 40s or 50s without a pension or did not MAX their 401k or savings. I do not know all the problems or answers for them BUT the middle class is being attacked and income is not growing as liked, except for a few small segments. This is just my irish opinion

Seen too many of them because i have triend unsucessfuuly to teach and convince them of how to plan for a retirement years down the road.

I have/had a mba in finance and bba in accounting:

Originally Posted by verticaldoug

Pete, CPI includes energy, food etc:

FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks)
HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
APPAREL (men's shirts and sweaters, women's dresses, jewelry)
TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance)
MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services)
RECREATION (televisions, toys, pets and pet products, sports equipment, admissions);
EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories);
OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).


The inflation you feel is primary driven by high frequency purchases. So if gas at the pump, food prices are increasing (which they are), inflation feels high. However, less frequent purchases, (appliances, housing etc) may be increasing at a much slower rate. Hence the CPI looks low. For most people, rent equivalent, and energy are the two largest parts of the budget. For most of the U.S., housing has depressed the rent equivalent calculations helping to keep CPI low.

Chain CPI which is what you are referring to for SS Colas etc is a much nastier animal. Essentially the gov decides people can substitute down, so as prices go up, you will change your spending habits and buy cheaper stuff. Literally they count on your going from Banana Republic to the Gap to Old Navy eventually to goodwill. This is a nasty cycle. See Japan for details.

For as much as Paul Krugman gets bashed lately, you need to see his comments on 'Rent Seekers' to really understand what the elites are doing to the economy.

There is a turkish saying: If you hold the honey pot, you get to lick your fingers.

[verticaldoug]

Originally Posted by Pete Mckeon

I do not know all the problems or answers for them BUT the middle class is being attacked and income is not growing as liked, except for a few small segments. This is just my irish opinion

Pete

I am not disagreeing with you. I believe CPI calculations as whole are not that bad. Your basket of goods and services differs significantly from the standard CPI baskets. Up until this year, my basket was also different in that I am fortunate to have a healthy family, heated my home with natural gas and don't drive that much, so my CPI was lower than the national average. Now this year, with a daughter's tuition costs, the spike in natgas, and my CPI is probably higher. So if the government decides to unfairly weight the CPI basket, the results are skewed. We can agree to that.

The more important point, though, is the insidious nature of chained CPI. If because of price increases, I substitute from a Mercedes to Ford to Hyundai, J Crew to Gap to Uniqlo, I may still have a car and clothing on my back , but I am definitely poorer even if my substitution allows the Gov to monkey with chain cpi and tell me inflation is not as high as I imagine.

And I don't disagree with you on middle class being under attack. It's just under attack from both parties. A friend and I were discussing the nuttiness of Tom Perkin's OpEds today, and he sent me this link to an old rant on FOX News from the 2012 election. Normally, I don't watch Fox, but Napolitano basically rants on the both parties. Probably the truest piece ever to air on Fox and he was fired for it.

http://themindunleashed.org/2014/01/...ox-5-mins.html

Video halfway down the page.