I don't know but it doesn't seem too far off, especially since this was in the early 2000s. UAE which has since improved the non-oil sector, and where tourism plays a decent role, still had its oil sector account for ~34% of the GDP as late as 2008. Can't imagine it's better for the Saudis or other gulf countries. The GDP's of these countries are tracked as "GDP" and "non-oil GDP" for a reason. Comparing them with countries who don't have these vast natural resources makes no sense otherwise.
"Federal Reserve Transparency Act of 2011 - Directs the Comptroller General to complete, before the end of 2012, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress. Repeals specified limitations on such an audit." That to you is "an audit to uncover the owners of the Fed"? Are you just making this up on the way? Here is the board of governers, the subjects of the audit, btw: http://www.federalreserve.gov/bios/boardmembership.htm Man this **** is so secret I'm getting goose bumps. "As stated in Hansard, above, BOEN is a company set up with the intention of holding shares confidentially on behalf of âHeads of Stateâ and certain others." ... "In any case, BOEN is presently dormant, and is no longer exempt from company law disclosure requirements." http://prosperityuk.com/2011/10/investigating-the-bank-of-england-nominees-limited/ That link also links to questions from parliament, which should counter all 3 of your falsehoods within 1 paragraph. Why that link is particularly good is because it comes from an organization that wants to push reforms to the current system. I guess they chose the non-crazy way though, and chose not to make up bullshit and stir up conspiracy theories on their way. Commendable You are digging a whole so big you might not get out. I can't watch youtube at work, but based on the critical thinking skills you have exposed here, I'm sure that video is a gem!
You read the summary of the bill and thats it.. too funny. Still isnt it strange that a full audit is still being worked on to get it through Congress. For such an open and transparent organisation as the Fed, why oh why are these peole bothering? Your position on this has been laughable. The Fed is a private corporation as ruled by US courts and some good people in the world are trying to lift that veil of secrecy and get a full audit. You were completely wrong when you said that the Fed was not owned by anyone and that it was transparent. You just have trouble admitting it. Hang on son, keep hanging on.... You have already dug that hole and you wont get out Did anyone say we didnt know who the Fed Governers were??? You just dont do your homework. The whole process of auditiing the Fed properly includes access to full documentation of the Fed - e.g full correspondence between the people who are not known , who run the show. I am sure you wont actually put the effort in to do any study on this - much too difficult for someone who has demonstrated a lack of critical thinking...
I'm finding this Jayram/Hothead v Gent discussion quite interesting. It's got to 8 pages and there hasn't been any football discussed, apart from my Squishy reference...
It's not like the mods have closed it down, i think they are finding it interesting too. I doubt you'll find this amount of intellectual chat on any other footballing forums that is not football related!
It is an interesting thread and ultimately global economics affects what happens at Arsenal. Which is why it's right that we ensure that we don't become victims of any economic downturn.
Nowhere in that bill is there any reference to find out who the "owners" are, that would be idiotic even for someone as dogmatic as Ron Paul to suggest. I said the ownership (or lack thereof, if you want to get into semantics) of the Fed and BOE is transparent, not the management of it. You can track back to my unedited posts to verify that. If the materials I have presented to you are not enough, you are only left to speculate. For each contested false statement you add a few more. What happened to the "secret BOEN" btw? Not secret any more? "secret organization", "parliament forbidden to ask" lol... so scary. I bet there's accompanying hitchcock tunes in those "documentaries". And nice of you paraphrasing me about critical thinking, I'm glad I've enriched your vocabulary.
I have already adeqautely demonstrated that the BOEN is indeed secret. By the way its been 'dormant' since its inception , and the BOE response to the request to open up the dealings was met with 'we are not bound by the official secrets act'. You should really go and dig in to the resrearch on the Rothschilds that have been posted for you - then you can have a reasoned debate. Till then you are just going to recite what you are told by the very organisations that are corrupt. The Fed for example didnt tell anyone they had shovelled $16 trillion into banks around the world until they were forced to. Till then I am sure you wouldnt have believed it if someone tried to eductate you. Till then if you really want to believe that the governments own the BOE and FED, and that they pay interest to themselves on loans, then go ahead. Its clear that critical thinking is not you thing. I am still eager to hear you fractional reserve banking argument and why you think money is NOT being created out of thin air...
Except the BOE does have to answer to the Parliament for BOEN and they have. Did you even look at that link? It includes the hansard from parliament of discussions regarding the BOEN. (you know, that "secret organization that even the parliament is forbidden to ask questions to")
Here's a little report for you from this year which highlights the lack of transparency Parliament face with the BOE... funny how they own the bank and they cant get answers http://www.publications.parliament.uk/pa/cm201012/cmselect/cmtreasy/1769/1769.pdf A nice exerpt for you After you have read it, ca you please explain fractional reserve banking to us - you seem to be avoiding the question...
That doesn't seem to have anything at all in it regards to the 'secrecy' of BOEN? It's a list of suggestions to improve the transparency of how the institution works... where at all have I been on the opposite side of that issue? I have mentioned transparency as it relates to ownership... We are 8 pages in and you still twisting my words to avoid admitting you have stated numerous falsehoods in this thread. You yourself are trying to correlate any criticism of the central banking systems with this supposed private ownership of them. The central banking systems being dodgy in their operations proves **** all as far as their ownership is concerned. Here is a brief recap of your major false statements. - Fed is privately owned by Rothschilds. False. independent institution within the government, answers to Congress. (the Congress not approving audits is their issue.) - BOE is privately owned by Rothschilds. False. public ownership, answers to Parliament. - BOE has a secret "nominee" (love how you referred to it like a person first time around). False, nothing secret about it. - Parliament is forbidden to ask about BOEN. False. I've provided you with the hansard and there is probably more disclosed proceedings that you can find the same gov. website.
Look - sod this macro economic theory - if we go out on the piss anytime soon - I'll hold the bloody cash....... you guys would bore the pants of the publican about his cashflow and liquidity problems.
And the thing is, I'm not arguing here because I'm some pro-Keynesian shill. It's just that the current system has many more flaws that can be corrected without resorting to SPECULATION, and BULLSHIT CONSPIRACY THEORIES. I would do away with some of the concepts just because they are so ****ing complex for the general public to comprehend, nothing even to do with the decency or morals of it. But that doesn't mean that these very concepts that seem so convoluted to us have not had a positive impact on economic growth. The bottom line is the average Joe won't give a **** when their standard of living goes down because, hypothetically, we resort to the gold standard or another "simpler" monetary system.
Lets be a bit clearer : The Fed is a private corporation - we dont know who owns it and my view is it is the Rothschild family The BOE does not answer to Parliament, hence the effort to gain transparency - it answers to no one and makes decisons on its own. It was originally set up as a private bank in 1649 and nationalised in 1946, but with no public accountability for which it was exempt. The BOEN was set up and operates in complete secrecy The question in Parliament about the BOEN was no doubt brave, but the truth is the BOE themselves will not answer questions about its operation as in their words they are not bound by the official secrets act. You stated that the FED and the BOE were transparent - FALSE You stated that fractional reserve banking did not create money out of thin air - FALSE and a serious lack of understanding on your part I would advise you to listen to presidents and prime ministers through history - not conspiracy theorists - on the secret and controlling world of private central banking. Start with Andrew Jackson, move onto John Tyler, then Abraham Lincoln, James Garfield, Thomas Jefferson, Benjamin Franklin, John Kennedy, Tsar Alexander I & II, Prime Minister Benjamin Disraeli and keep going. These men spoke out and fought against private central banking. Lincoln even described them on record as his most dangerous enemy. "I have two great enemies, the Southern army in front of me and the bankers in the rear. Of the two, the one on my rear is my greatest foe" Research why he said that, and what they did to him during the Civil War. These men who have fought against private central banks are not conspiracy theorists, but great men. There are many sources for their words and deeds - official transcripts. This is where research leads you to truth. Not on conspiracy web sites. It is all too easy for the blinkered and accepting to cry conspiracy theory whenever their cosy world of just men is threatened. Its shows a lack of skill at debating and a serious fear of the truth. Learn your history, and when you have reassess your blinkered and accepting opinion.
oh boy. I've provided you sources that can be traced back to actual people, ministers, and members of parliament that answer all of you doubts relating to those points (imagine that, quotes attributed to specific people... new concept for you probably). You have provided nothing that is comparable. I actually took the time to provide sources that directly contradict your claim. Read this if only to understand there are better ways to fight the monetary system you disagree with, than dealing with conspiracy theories regarding the ownership of these institutions.
except they are not, and they don't claim that. (can you link to "their words" by the way?) "Asked by Lord Myners To ask Her Majesty’s Government when the accounts of Bank of England Asset Purchases Facility Fund Limited will be published; whether these accounts will take into account an indemnity from HM Treasury; and whether the accounts of the company are exempt from any company law disclosure requirements.[HL8303] The Commercial Secretary to the Treasury (Lord Sassoon): The Bank of England will publish accounts for the asset purchase facility (APF) for the year ended February 2011 before the Summer Parliamentary Recess. The amount due to or from HM Treasury under its indemnity to the Bank will be identified. The accounts are not exempt from any company law disclosure requirements. 12" [/QUOTE]
You are not listening - do your research, because you have provided nothing of any substance that gets to the heart of the matter - that private banks control the money supply in this country and the USA. Indeed in many countries. The transparency you speak of simply does not exist. Follow some of the prompts I have given you and you will learn. Step outside your comfort zone where everything is nice and cosy and all above board. I promise you, you will learn. IN terms of Fed and BOE reports - of course they report, but they have wide ranging responsibility that they update on. IN your post above you are talking about a single element of the BOE - not what we are discussing. What we are taking about is the control, the decision making on when to contract or expand the money supply - and who they pay billions/trillions to. In the US, do you think the FED came to Congress to ask if they could give Citibank $2.5 tillion ? These are private organisations that do what they want and report what they want. This is why there is such focus and pressure being put on them to open up the books. p.s. it's time for you to provide your understand in your own words of fractional reserve banking...
