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Thanks for clearing that up, Pastor - I'll sleep better at night now
knowing that there is no conflict of interest at the highest financial
levels. :)
Nevertheless, putting all issues of direct profits aside, isn't there a
danger that monetary decisions being made by a privately-owned printing
press, may benefit some corporate members and not the public in
general? ;)
And why not let a publicly-elected government control the money printing
presses? Actually, given some of the decisions made by the current US
administration, perhaps that is not a good idea.
As an example of what I would consider a conflict of interest, I remember
reading somewhere about (the previous Fed Reserve chairman) Alan Greenspan
giving out advice to home buyers to lock their home loans into fixed
interest rate loans. This advice was given just prior to the Fed's
decision to drop interest rates steadily to almost historical lows.
I don't know... printing valueless fiat (paper) money by the truckload
doesn't seem like a sound long-term policy to me, regardless of who is in
monetary control.
jose '-)
http://www.metastocktools.com/#USindex
--- In equismetastock@xxxxxxxxxxxxxxx, pastor_barr <no_reply@xxx> wrote:
>
>> "The USD printing press is privately owned."
>
>> It's amazing the number of sites that try and point the above fact, and
>> disappear in the process...
>
> Hmmm.
>
> To use an - in this case unrepresentative - corporate analogy the
> executive branch appoints the Fed board that takes all strategic
> decisions.
>
> The US treasury owns the net profits of the Fed system and can at its
> sole discretion transfer said profits to the treasury or leave them in
> reserves.
>
> The "dividend" mentioned in the Fed's accounts are at a 5% fixed rate
> on capital committed in cash to the reserve system (like a preferred
> dividend), that for the vast majority of history has not come close to
> covering member bank's cost of capital. In accounting this equates to
> interest expense, not an economic share of profits generated as
> accrues to shareholders in the ordinary sense; this is a distinction
> not lost on the Fed's auditors in their statement of departures from
> accounting convention, last time I checked.
>
> Further, member banks can not sell any shares if they wish to retain a
> banking license. On the contrary, member banks are obliged to
> unconditionally subscribe for new issues as determined at the sole
> discretion of the politically appointed board of governors from time
> to time.
>
> So, while the Fed member banks are for archaic reasons known as
> "shareholders" they are not private owners of the Fed in any
> meaningful sense.
>
> Maybe that is why the sites you refer to disappeared; perhaps people
> realized they were peddling misrepresentations so egregious that they
> can only be accurately described as a pack of lies.
>
> Nice indicator though ;-)
>
>
>
>
> >
> >
> > jose '-)
> > http://www.metastocktools.com
> >
> >
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "Lionel Issen" <lissen@> wrote:
> > >
> > > Jose:
> > >
> > > This link and the sub links are excellent! Too bad our politicians
are
> > > largely illiterate and cant read them. J))
> > >
> > >
> > > Two sub links are unavailable
> > >
> > > The US Printing Press is Privately Owned
> > >
> > > An Anatomy of A Bear Market
> > >
> > >
> > > Can you suggest another way/place to access these items?
> > >
> > >
> > > Lionel
> > >
> > >
> > >
> > >
> > > From: equismetastock@xxxxxxxxxxxxxxx
> > > On Behalf Of Jose Silva
> > > Sent: Tuesday, May 01, 2007 7:42 AM
> > > To: equismetastock@xxxxxxxxxxxxxxx
> > > Subject: Day of Week Function? performance for the specified day
> of the
> > > week.
> > >
> > >
> > >
> > > From http://www.metastocktools.com/#metastock :
> > >
> > > This indicator measures individual weekday performance (from today's
> > > Close to the previous Close), either as an average % or cumulative %.
> > >
> > > This statistical tool is very useful to determine micro-seasonal
> > > tendencies in any market.
> > >
> > > Example statistics for the Dow Jones index (1997-2007):
> > >
> > > Day Avg Cumulative
> > > -----------------------
> > > Mon: +0.1% +45.2%
> > > Tue: +0.06% +32.1%
> > > Wed: +0.04% +19.0%
> > > Thu: +0.0% + 0.1%
> > > Fri: -0.03% -15.8%
> > > All: +0.03% +80.5%
> > >
> > > Related material:
> > > Rev2 kit - Reversal Pattern finder v2.0
> > > http://www.metastocktools.com/Rev2/Rev2.htm
> > >
> > > MetaStock -> Tools -> Indicator Builder -> New ->
> > > -> copy & paste complete formula between "---8<---" lines.
> > >
> > > =====================
> > > Weekday performance %
> > > =====================
> > > ---8<--------------------------------------
> > >
> > > { Weekday Average/Cumulative performance %.
> > >
> > > Copyright C 2007 Jose Silva.
> > > The grant of this license is for personal use
> > > only - no resale or repackaging allowed.
> > > All code remains the property of Jose Silva.
> > > http://www.metastocktools.com }
> > >
> > > { Indicator inputs }
> > > day:=Input("Select Day of Week: [Mon-Sun = 1-7, All = 0]",0,7,1);
> > > type:=Input("Performance type: [1]Avg for Day,
[2]Cummulative",1,2,1);
> > >
> > > { Daily performance % }
> > > pf:=(C/Ref(C,-1)-1)*100;
> > >
> > > { Monday's performance % }
> > > Mon:=DayOfWeek()=1;
> > > tot:=Cum(pf*Mon);
> > > Mon:=If(type=1,tot/Max(Cum(Mon),1),Tot);
> > >
> > > { Tuesday }
> > > Tue:=DayOfWeek()=2;
> > > tot:=Cum(pf*Tue);
> > > Tue:=If(type=1,tot/Max(Cum(Tue),1),Tot);
> > >
> > > { Wednesday }
> > > Wed:=DayOfWeek()=3;
> > > tot:=Cum(pf*Wed);
> > > Wed:=If(type=1,tot/Max(Cum(Wed),1),Tot);
> > >
> > > { Thursday }
> > > Thu:=DayOfWeek()=4;
> > > tot:=Cum(pf*Thu);
> > > Thu:=If(type=1,tot/Max(Cum(Thu),1),Tot);
> > >
> > > { Friday }
> > > Fri:=DayOfWeek()=5;
> > > tot:=Cum(pf*Fri);
> > > Fri:=If(type=1,tot/Max(Cum(Fri),1),Tot);
> > >
> > > { Saturday }
> > > Sat:=DayOfWeek()=6;
> > > tot:=Cum(pf*Sat);
> > > Sat:=If(type=1,tot/Max(Cum(Sat),1),Tot);
> > >
> > > { Sunday }
> > > Sun:=DayOfWeek()=7;
> > > tot:=Cum(pf*Sun);
> > > Sun:=If(type=1,tot/Max(Cum(Sun),1),Tot);
> > >
> > > { All weekdays }
> > > tot:=Cum(pf);
> > > all:=If(type=1,tot/Cum(1),Tot);
> > >
> > > { Plot in own window }
> > > If(day=1,Mon,
> > > If(day=2,Tue,
> > > If(day=3,Wed,
> > > If(day=4,Thu,
> > > If(day=5,Fri,
> > > If(day=6,Sat,
> > > If(day=7,Sun,
> > > all)))))))
> > >
> > > ---8<--------------------------------------
> > >
> > >
> > > jose '-)
> > > http://www.metastocktools.com
> > >
> > >
> > >
> > > --- In equismetastock@xxxxxxxxxxxxxxx,
"really_4real" <really_4real@>
> > > wrote:
> > >
> > >
> > > I'm trying to create an indicator which can show me performance based
> > > on a selected day of the week. Performance should be relative to the
> > > previous days close. Ex: Selecting Monday, will return the %
> > > gain\loss from Friday's close to Monday close.
> > >
> > > I went through the formula primer and could not find any example to
> > > help me on the way. If anyone can provide me with a the formula or
> > > related it would be greatly appreciated or point me in the right
> > > direction.
> > >
> > > Thanks in advance
> > > Frank
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