[ AMD guy @ 02.01.2010. 00:26 ] @
http://www.time.com/time/speci...,28804,1946375_1947251,00.html



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Person of the Year 2009 Ben Bernanke

The story of the year was a weak economy that could have been much, much weaker. How the mild-mannered man who runs the Federal Reserve prevented an economic catastrophe

Bernanke is the 56-year-old chairman of the Federal Reserve, the central bank of the U.S., the most important and least understood force shaping the American — and global — economy. Those green bills featuring dead Presidents are labeled "Federal Reserve Note" for a reason: the Fed controls the money supply. It is an independent government agency that conducts monetary policy, which means it sets short-term interest rates — which means it has immense influence over inflation, unemployment, the strength of the dollar and the strength of your wallet. And ever since global credit markets began imploding, its mild-mannered chairman has dramatically expanded those powers and reinvented the Fed.

He just happens to be the most powerful nerd on the planet.



[ Igor Gajic @ 02.01.2010. 01:05 ] @
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It is an independent government agency


To je privatna institucija, vlada US nema skoro nikakvog upliva u rad FED. A ceo text je hvalospev od kog se povraca...
[ Ivan Dimkovic @ 02.01.2010. 01:09 ] @
FED >nije< privatna institucija, niti je zavistan deo U.S. vlade.

Struktura je vrlo specificna i prilicno unikatna, i ima samo neke elemente privatne institucije, ali i elemente vladine agencije.

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vlada US nema skoro nikakvog upliva u rad FED


Vlada US (tj. Predsednik) postavlja bord upravnika FED, ali se ne mesa u njihov svakodnevni rad. Clanovi borda obicno imaju mandate koji traju tokom vise administracija.

To je pomalo slicno sa sudskim sistemom (uz mnoge razlike, razume se, slicnost u smislu da se vrhovne sudije biraju od strane vlasti ali imaju nezavistan mandat koji prezivljava vise administracija) - dakle, nezavisna institucija koja je poluga drzavne vlasti, a u slucaju FED-a i sa nekim aspektima privatnog poslovanja - ali samo nekim.

[ Igor Gajic @ 02.01.2010. 01:16 ] @
Pisalo se o FED-u na forumu prilicno opsirno... Pa da se tema ne pretvori u diskusiju sta jeste sta nije...


Ben Bernanke je nastampao vise para nego svi pre njega zajedno, napravio ubedljivo najveci deficit i uvalio US u jako duboka go***. 2010. bice jako zanimljiva posto me interesuje kako ce se izbaviti iz toga. Prosecan Amerikanac vidi da je za zadnjih 10 godina standard zivota dosta opao, rade sve vise za iste pare, a do posla je sve teze doci, pogotovu od oktobra 2008.
[ Ivan Dimkovic @ 02.01.2010. 10:00 ] @
Ben svakako nije mogao da stampa pare, jer to ne radi FED vec US Dept. of Treasury ;-)

Inace, mislim da Time nije trebao da izabere Bena za licnost ove godine jer je jos prilicno rano za ocenu finansijske politike za vreme krize (mada opet, za licnost godine je potrebno da budes uticajan, a ne dobar). Tacno je da je 2009-ta godina bila prilicno dobra:

http://news.bbc.co.uk/2/hi/business/8436264.stm

Ali svima je jasno da kriza jos definitivno nije gotova i da se moze ocekivati jos negativnih iznenadjenja - opet, ne treba zaboraviti i da su akcije finansijskih institucija i vlada bile prilicno koordinirane, nesto sto je definitivno za svaku pohvalu i sto je na skali nikad vidjenoj ranije.

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Prosecan Amerikanac vidi da je za zadnjih 10 godina standard zivota dosta opao, rade sve vise za iste pare, a do posla je sve teze doci, pogotovu od oktobra 2008.


Ako me pamcenje ne vara, za to Ben nikako ne moze biti odgovoran. A opste prihvacen stav uzroka poslednje finansijske krize je takav da je ona nastala mnogo pre nego sto je Ben izabran za mesto na kome je sada.

Njegov rad se moze ocenjivati jedino u efektima mitigacije te krize - na bolje ili na gore.
[ AMD guy @ 04.01.2010. 11:06 ] @
A sta je ovo?

http://www.rayservers.com/images/ModernMoneyMechanics.pdf

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MODERN MONEY MECHANICS.
A Workbook on Bank Reserves and Deposit Expansion.
Federal Reserve Bank of Chicago.
This complete booklet is was originally produced ...


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Description

The purpose of this booklet is to describe the basic process of money creation in a "fractional reserve" banking system. The approach taken illustrates the changes in bank balance sheets that occur when deposits in banks change as a result of monetary action by the Federal Reserve System - the central bank of the United States. The relationships shown are based on simplifying assumptions. For the sake of simplicity, the relationships are shown as if they were mechanical, but they are not, as is described later in the booklet. Thus, they should not be terpreted to imply a close and predictable relationship between a specific central bank transaction and the quantity of money.

The introductory pages contain a brief general description of the characteristics of money and how the U.S. money system works. The illustrations in the following two sections describe two processes: first, how bank deposits expand or contract in response to changes in the amount of reserves supplied by the central bank; and second, how those reserves are affected by both Federal Reserve actions and other factors. A final section deals with some of the elements that modify, at least in the short run, the simple mechanical relationship between bank reserves and deposit money. Money is such a routine part of everyday living that its existence and acceptance ordinarily are taken for granted. A user may sense that money must come into being either automatically as a result of economic activity or as an outgrowth of some government operation. But just how this happens all too often remains a mystery.