01-03-2003 14:02									#121
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Have they been destroyed, yet?

	01-03-2003 16:02									#122
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quote: Originally posted by Ned Actually, Spiffor, if I had a choice, I would declare war on France, Germany , Austria and Belgium. Never have I had such anger for other countries as I do for these countries. Saddam is a small menance compared to Chirac and crew.

Ned, care to explain me why you would declare war to Germany, France and Belgium ? I assume you don't consider a diplomatic disagreement to be enough to declare war ?

	01-03-2003 18:16									#123
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quote: Originally posted by Spiffor Ned, care to explain me why you would declare war to Germany, France and Belgium ? I assume you don't consider a diplomatic disagreement to be enough to declare war ?

I fully understand him. Those countries disagree with US politics, just nuke them

	01-03-2003 19:51									#124
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Very interesting.

So Sadam has agreed to destroy the missiles he said that didn't exist?

Isn't that enought to prove he was lying?

	01-03-2003 19:54									#125
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quote: Originally posted by DinoDoc Still not enough financial reward to justify the huge cost.

Effective control of the region from US controlled bases at the top of the persian gulf not worth 100 billion?

70 billion would be spent in the US anyway so, the real
cost is only the bribe money-profit on weapons sold to
turkey.

	01-03-2003 19:59									#126
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quote: Originally posted by Ned Actually, Spiffor, if I had a choice, I would declare war on France, Germany , Austria and Belgium. Never have I had such anger for other countries as I do for these countries. Saddam is a small menance compared to Chirac and crew.

It is easier to just throw them out of the OTAN and the EU. That's what Chirak deserves after speaking in behalf of the whole EU with no right.

	01-03-2003 20:06									#127
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No problem, to morrow if you like. We will be interested in watching the Young Europe competing with the Old one.

	01-03-2003 20:26									#128
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quote: Originally posted by lord of the mark Your post is the first i heard that Turkey is in violation. Especially since you also mentioned Israel. GA resolution, which is not binding I tend not to believe you.

Good, much better than just be more specific.

201 1965 is a clear example of the SC issuing another
SC resolution telling the belligents to heed earlier SC
solutions. Which is exactly what is happening with
Iraq.

The point I was trying to make was the resolutions
seem to be "selectively" applied.

Especially Israel eh. The Pariarch of the pariah club?

GA resolution isn't binding? Sounds like a bit of lawyer
snakeoil here. More like 'yer too strong or important to
attack' or 'your not worth the expense to attack'.

	01-03-2003 20:30									#129
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quote: Actually, Spiffor, if I had a choice, I would declare war on France, Germany , Austria and Belgium. Never have I had such anger for other countries as I do for these countries. Saddam is a small menance compared to Chirac and crew.

Hmm. Almost as daft as 'Manx Americans', but not quite.

	01-03-2003 20:32									#130
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quote: Originally posted by Ned 9/11 reduced America's tolerance to security threats to America to very close to zero. That is what is different.

Then America should be dealing with Israel first.

THAT is America's number one security threat.
(the rest of the world's #1 too)

	01-03-2003 20:59									#131
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You're right -- we should take the safeties off Isreal and let them at it.

	02-03-2003 03:10									#132
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quote: Originally posted by DuncanK Ned, You want to pay banks to keep excess reserves? Do you see any problem there? Is that going to increase the money supply?

Duncan, Why would a bank keep reserves at 1% when they can loan money at the prime rate and make 4.5%?

	02-03-2003 03:41									#133
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Ned,

Even without your proposal to give banks a 1% return on their reserves there is already a danger that banks would keep excess reserves, because of increased risk of making new loans. They aren't going to make loans for any interest rate if there is too much risk. There isn't anything the Fed can do to prevent them from increasing their reserves, but we certainly don't want to encourage them to do it.

One solution would be to change the reserve requirement from 10% to 5%. This would allow more loans to be made.

We are at a point where we could be in real danger of monetary policy not working at all. If that happens the only hope will be for the government to take direct action to get things going, fiscal policy.

	02-03-2003 03:57									#134
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Ned, whether they will or not doesn't make a difference; at best it does little to tighten the credit supply. At worst it dries it up completely. Isn't this exactly the opposite of what you intended?

	02-03-2003 07:32									#135
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quote: Originally posted by The Mad Monk You're right -- we should take the safeties off Isreal and let them at it.

You can read that both ways.

	02-03-2003 10:55									#136
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quote: Originally posted by Frogger Ned, whether they will or not doesn't make a difference; at best it does little to tighten the credit supply. At worst it dries it up completely. Isn't this exactly the opposite of what you intended?

I so long as they only keep 10% reserves and the reserves are growing, the total money supply is growing. This cannot tighten credit.

	02-03-2003 12:27									#137
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The money supply would shrink if the banks increased their reserves. The multiplier effect would more than offset the increase from the Fed.

	02-03-2003 12:34									#138
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Ned, you make no sense. You assume that the reserves will grow because you stimulate them to grow (this is true) but also somehow that taking cash money from the banks and putting it in the Fed will increase their capacity to lend?

Holy ****...

	02-03-2003 12:34									#139
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quote: Originally posted by DAVOUT No problem, to morrow if you like. We will be interested in watching the Young Europe competing with the Old one.

May Austria join you in the out-EU? I´d rather belong to Old Europe.

	03-03-2003 21:37									#140
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quote: Originally posted by Frogger Ned, you make no sense. You assume that the reserves will grow because you stimulate them to grow (this is true) but also somehow that taking cash money from the banks and putting it in the Fed will increase their capacity to lend? Holy ****...

For every dollar of reserve interest paid, the banks can lend 90 cents and only ten cents is added to reserves.

	03-03-2003 22:28									#141
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oliverfa , one would think so, yes!

However, the peacenik crowd is pointing out how "cooperative" Saddam is being for graciously offering the destruction of the missiles he obviously knew nothing about in his country.....

It's amusing....put your hand on a hot stove, and it burns, so you take it away.

A few minutes later....you put your hand back on the stove, and much to your amazement....IT BURNS AGAIN!

Take your hand away....wait a few more minutes....put your hand back on the stove. Yep....still burns.

Eventually, one would think that the message would begin to seep through even the most lovable, thick-headed people around.

If the stove is hot, and you put your hand there....it WILL burn.

But no....apparently this is some deeply mysterious message as it relates to Saddam Hussein, and rather than seeing the missiles for what they are (a blatant defiance of 1441, and by themselves--never mind the anthrax we know he bought, and all the other stuff he has yet to provide destruction orders for--PROVE non-compliance.....no....instead, we should focus on his willingness to destroy the missiles (but only after being caught red-handed) as proof of what a nice, cooperative man he is....

Yeah.

-=Vel=-

	03-03-2003 22:39									#142
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quote: Originally posted by Ned For every dollar of reserve interest paid, the banks can lend 90 cents and only ten cents is added to reserves.

Ned,

You are neglecting the possibility that banks will see dollars as a safer investment than loans and stockpile excess reserves. If you pay banks to keeps reserves that will make dollars a better investment and increase the possibility of banks hoarding dollars. That's a dangerous thing to do when the economy is in such danger.

	04-03-2003 00:10									#143
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He's not neglecting it....it's simply that it'd never be the case.

-=Vel=-

	04-03-2003 00:52									#144
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quote: Originally posted by Ned For every dollar of reserve interest paid, the banks can lend 90 cents and only ten cents is added to reserves.

The Federal government would do better offering loans of its own. Which it already does.

Holy sh*t, man.

	04-03-2003 02:17									#145
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quote: Originally posted by Spiffor Plato : I thought the upcoming "2nd resolution" on the Iraq issue is precisely intended to bring the word "force" in a UN resolution ? I admit my sources on the topic are biased (French left-wing news). Do you know where I can find the official speeches countries held at the time 1441 was passed ? You seem to know much more about the UN than I do. Thx

Spiffor, I have been unable to locate specific transcripts of security council presentations. I have attached two links to help clarify the background.

Security counsel press release concerning 1441:

Included are the resolution itself and the statements of the council members and the Secretary General

http://www.un.org/News/Press/docs/2002/SC7564.doc.htm

Wrt the French position on use of force I am attaching a BBC article from 06 Feb 2003

http://news.bbc.co.uk/2/hi/middle_east/2732939.stm

I will continue to look for transcripts for you.

	04-03-2003 03:12									#146
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quote: Originally posted by Velociryx He's not neglecting it....it's simply that it'd never be the case. -=Vel=-

It is the case. Banks are very rational. Loans are much more risky than cash. At some point they would rather keep the cash than make more loans. That point comes sooner if they are paid a return for holding cash.

	04-03-2003 03:16									#147
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Interest rates are already zero in Japan. The Bank of Japan is buying government debt to stimulate the economy. I don't agree with it though. It's tough for Japan because their economy isn't as big as that of the US, but I still say huge budget deficits are the only thing that will help them. Big deficits in the US would certainly help them even more.

	04-03-2003 03:24									#148
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quote: Originally posted by Ned For every dollar of reserve interest paid, the banks can lend 90 cents and only ten cents is added to reserves.

Ned's analysis is correct to a point.

The Fed should only pay interest on the required reserves.

Further, this would increase the money supply with a multiplier effect of 2 times for government lending and 3 times for consumer and business lending. Therefore you could assume that the net effect on M1 would be .01 X (.1 X reserve requirement) X 2 for government lending and .01 X (.1 X reserve requirement) X 3 for consumer or business lending.

	04-03-2003 03:29									#149
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quote: Originally posted by Ozz GA resolution isn't binding? Sounds like a bit of lawyer snakeoil here. More like 'yer too strong or important to attack' or 'your not worth the expense to attack'.

Hardly, rather it was one of the elements in the writing of the charter. thats why the big powers insisted on vetos in the UNSC only. Its a huge difference, one all the UN is familiar with.

	04-03-2003 03:32									#150
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quote: Originally posted by lord of the mark Hardly, rather it was one of the elements in the writing of the charter. thats why the big powers insisted on vetos in the UNSC only. Its a huge difference, one all the UN is familiar with.

Exactly.