Looks like Bernanke will be a foregone conclusion after watching tonight's Republican Presidential d
Goldbully
Posts: 17,309 ✭✭✭✭✭
I would think PM's would drift lower with his dismissal.
Thought's?
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Comments
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
GrandAm
<< <i>Didn't see the debate,,, how are the republican's going to dismiss him?
GrandAm
When asked if he would extend Ben, Newt said he would fire him tomorrow. I'm beginning to like Newt, he was impressive in the SC forum. Ron did manage to score a last minute touchdown when he took offense to those who believe in liberty being labeled as not compassionate because they don't like the idea of giving away tax dollars.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I wanted to see the debate but could not find it on tv. I found out after it was over it was on msnbc.
Who ever watches msnbc?
I don't even know what channel it is on.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I found this comment from Ron Paul VERY interesting this morning"Texas Rep. Ron Paul is calling Texas Gov. Rick Perry "Al Gore's Texas cheerleader" for once working to help elect the Democrat. "
Paul says he's a wolf in sheep's clothing
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I know it's still debatable, but frankly, I can't see the Republicans losing in November 2012. Whether they will increase the Senate to 60 Republican seats I'm not sure, but in any event Bernanke's days are numbered, and thank goodness for that.
Perry and the others were absolutely right about Bernanke, and I predict there will be quite a Congressional inquiry in 2013 into his techniques and involvement in greatly harming our country financially.
<< <i>Some good points brought up. Far to much talk about illegal's and not enough about job creation. >>
Point is if the Illegal Alien Presence is legally (current laws on the books) dealt with we would have immediate JOB CREATION in the Millions.
Even if we Only Fully implement and enforce the very efficient E-VERIFY Program from this point forward, It alone would immediately open up to
American Citizens Millions of Jobs.
Enforcing our current Immigration Laws is the Key to Job Creation, and when this Citizenry actually wakes up to this obvious fact we will solve
many many Socio-Economic Issues.
Terry Anderson always opened his show with this statement "You Stupid Americans" He was a True American Patriot whom beleived in the Soveriegnty
of his country, The United States of America.
<< <i>, but in any event Bernanke's days are numbered, and thank goodness for that.
>>
The days of the Fed ought to be numbered. Congress ought to revoke its charter. We Americans are incredibly stupid for letting them have a monopoly on our currency. Hasn't anyone in Congress read the Constitution?
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
"Twelve Specific Recommendations
1. Banks and bondholders should take a hit. Banks are not going to lend anyway so bailing them out at the expense of taxpayers is both morally and economically stupid. End the bailouts, all of them, and prosecute fraud, the higher up the better.
2. Implement serious bank reform now, not 9 years from now. Banks should be banks, not hedge funds. This proposal will necessitate breaking up banks. So be it.
3. Scrap Davis-Bacon and all prevailing wage laws. Such laws drive up costs and have wreaked havoc on many cities and municipalities, now bankrupt or on the verge of bankruptcy.
4. Pass national right-to-work laws. Once again, we need to reduce costs on businesses and local governments to spur more hiring and reduce costs.
5. End collective bargaining rights of all public unions. The goal of unions is to provide the least service for the most money. The goal of government should be to provide the most services for the least money.
6. Scrap ethanol policy and end all tariffs.
7. Legalize hemp and tax it. Prison costs will go down, tax revenue will grow, and biofuel and fiber research will expand as hemp produces very soft fibers.
8. Corporate income tax rates should be lower in the US than abroad. Current policy encourages capital flight and jobs flight via lower tax rates on profits overseas than in the united states. This penalizes businesses that work only in the US, especially small businesses that do not have an army of lawyers and lobbyists.
9. Stop the wars and set a plan to bring home all US troops from Iraq, Iran, and 140 or so other countries.The US can no longer afford to be the world's policeman.
10. Implement Paul Ryan's Medicare voucher proposal. It is the only way so far that anyone has proposed that puts much needed consumer "skin-in-the-game" that will reduce medical costs.
11. Legalize drug imports from Canada
12. End the Fed and fractional reserve lending. Both have led to boom-bust cycles of ever-increasing amplitude.
Those are the kinds of things we need to do, not throw more money at problems. The latter does nothing but drive up national debt and interest on the national debt for short-term gratification."
From MISH
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Enjoyed the content of your MISH link. Very good Info.
<< <i>I nominate Mike Shedlock (MISH) for Fed chairman. His fix for the economy:
"Twelve Specific Recommendations
1. Banks and bondholders should take a hit. Banks are not going to lend anyway so bailing them out at the expense of taxpayers is both morally and economically stupid. End the bailouts, all of them, and prosecute fraud, the higher up the better.
2. Implement serious bank reform now, not 9 years from now. Banks should be banks, not hedge funds. This proposal will necessitate breaking up banks. So be it.
3. Scrap Davis-Bacon and all prevailing wage laws. Such laws drive up costs and have wreaked havoc on many cities and municipalities, now bankrupt or on the verge of bankruptcy.
4. Pass national right-to-work laws. Once again, we need to reduce costs on businesses and local governments to spur more hiring and reduce costs.
5. End collective bargaining rights of all public unions. The goal of unions is to provide the least service for the most money. The goal of government should be to provide the most services for the least money.
6. Scrap ethanol policy and end all tariffs.
7. Legalize hemp and tax it. Prison costs will go down, tax revenue will grow, and biofuel and fiber research will expand as hemp produces very soft fibers.
8. Corporate income tax rates should be lower in the US than abroad. Current policy encourages capital flight and jobs flight via lower tax rates on profits overseas than in the united states. This penalizes businesses that work only in the US, especially small businesses that do not have an army of lawyers and lobbyists.
9. Stop the wars and set a plan to bring home all US troops from Iraq, Iran, and 140 or so other countries.The US can no longer afford to be the world's policeman.
10. Implement Paul Ryan's Medicare voucher proposal. It is the only way so far that anyone has proposed that puts much needed consumer "skin-in-the-game" that will reduce medical costs.
11. Legalize drug imports from Canada
12. End the Fed and fractional reserve lending. Both have led to boom-bust cycles of ever-increasing amplitude.
Those are the kinds of things we need to do, not throw more money at problems. The latter does nothing but drive up national debt and interest on the national debt for short-term gratification."
From MISH >>
I am a conservative and I agree with much of the points except #7. I especially part company, temporarily, with some of my conservative friends in that I totally agree the troops need to come home, especially in Afghanistan. We're nation building and building their infrastructure there, when the dollars and lives are badly needed here. Nothing we do is going to change that country...and I do mean nothing.
Eisenhower warned us about the military industrial complex, and while I am very much pro-corporation because they create jobs and make our lives better, and while I am all for a strong military, I'd rather see a school or home, etc, built in the USA, than dropping another expensive missle on Libya or elsewhere where it isn't doing our country any good at all.
<< <i>
<< <i>Some good points brought up. Far to much talk about illegal's and not enough about job creation. >>
Point is if the Illegal Alien Presence is legally (current laws on the books) dealt with we would have immediate JOB CREATION in the Millions.
Even if we Only Fully implement and enforce the very efficient E-VERIFY Program from this point forward, It alone would immediately open up to
American Citizens Millions of Jobs.
Enforcing our current Immigration Laws is the Key to Job Creation, and when this Citizenry actually wakes up to this obvious fact we will solve
many many Socio-Economic Issues.
Terry Anderson always opened his show with this statement "You Stupid Americans" He was a True American Patriot whom beleived in the Soveriegnty
of his country, The United States of America. >>
Illegals are taking away jobs from US citizens. Now, some will say they only do the jobs that American citizens won't do but that is because they will work these jobs for much less pay. Pay a decent wage for these hard jobs and you will see US citizens doing the work, especially if the give away social programs are reduced on the citizens that are able to work. But, when you have an over abundance supply of illegal workers who will work for little knowing the US will take care of the rest of their needs, the supply overwhelms the demand for workers and jobs dry up.
I agree with bringing the troops home . We need to put them on both borders to stop these illegals from coming in. Then start enforcing our
laws to ship illegals back to their own countries. I am not against immigration just illegal immigration. Secure our ports and airways also with
them and continue to build a strong military. Let these foreign countries worry about themselves.
<< <i>I agree with bringing the troops home . We need to put them on both borders to stop these illegals from coming in. Then start enforcing our
laws to ship illegals back to their own countries. I am not against immigration just illegal immigration. Secure our ports and airways also with
them and continue to build a strong military. Let these foreign countries worry about themselves. >>
Ageed...those who may say that is being "isolationist" are just being silly. I doubt if anyone has the desire for us to be that. But as far as us being the "world's policeman" that needs to end...and this Libya thing was such an uncalled for waste of our manpower and resources, especially when we have no discernble idea what type of leadership will riseup in Libya. Hopefully not, but it could turn out to be worse than Gaddafi. It certainly isn't going to be a democracy in any way, shape, or form.
Certain people around the world aren't going to like us no matter what we do. They only respect power, and they'll sell us oil because of our power and our money, not because our president bows down to their king.
That's another thing. We have plenty of oil right here. Stop using foreign oil and drill here and put that pipeline in from Canada so we will be
self sufficient and to hell with Saudi Arabia and the rest of opec.
All our jobs shipped to Commy Red China etc. and every one raising heck about tomato pickers!
It is so frustrating that this type of reasoning is not more loudly spoken in America and even more so, put into action immediately.
Right or wrong, DO SOMETHING. Put aside all the BS and agree to make an honest effort!
Click on this link to see my ebay listings.
The candidates did not even begin to talk about immigration enough was my afterthought. The sharpest response of the night, in my mind, was from Ron Paul regarding airport security. He asked (loosly paraphrased) why is the federal government mixed up in assualting people at the airports in the name of security and at incredible public expense when it should be the private airlines job to provide security on their aircraft. He said that they hire private guards for moving money around in armored trucks and no one gives it a second thought about it and the trucking company pays for the security, why shouldn't the private airlines bear the multibillion expense for providing security on it's own aircraft instead of sticking the bill on the fed? Public safety = public expense or private enterprise = private expense...it left me with the thought that they should either nationalize the airlines in the public interest or charge them with providing their own security. Heck the airlines are so heavily regulated and secruitized it's almost a govt. agency now but they still operate as private, for profit business...there's some kind of conflict here. I know...there is plenty of possible debate on this orientation but it was interesting to see it presented in that way.
I have to admit that it was shocking to see Brian Williams, flag waving msnbc Big O pandering goober on the panel asking the Republican candidates loaded lib questions and calling it a debate...BS, it was a set up for the Big O's try at getting to do this for another term...not pleased, Brian, you better hope he wins again or you'll be selling news papers on the corner.
<< <i>
<< <i>
Illegals are taking away jobs from US citizens. Now, some will say they only do the jobs that American citizens won't do but that is because they will work these jobs for much less pay. Pay a decent wage for these hard jobs and you will see US citizens doing the work, especially if the give away social programs are reduced on the citizens that are able to work. But, when you have an over abundance supply of illegal workers who will work for little knowing the US will take care of the rest of their needs, the supply overwhelms the demand for workers and jobs dry up. >>
Here is a simple brief on the flow of Illegal Aliens Infiltrating and taking American Citizen Jobs: They come here first and may or may not start in an Farm labor type employment.
That is just the beginning, as soon as they get their feet on the ground orientate themselves, meet others that have been Illegaly here longer, they quickly move into our Construction Jobs and all other types of service industry jobs thereby displacing and competing with Millions of American Citizens. This cycle has been allowed for such a long time whole communities are tranformed into Foreign National communities that tear down our American Flag from the post office and run up a Mexican Flag, Vote that their police can no longer ticket drivers for not having a drivers license and All this and Much Much More in our American Cities. If you think any of this is not true, then please check it out/research. ITS HERE and ITS NOW
<< <i>It's 2011 there should NOT be a gas burning vehicle on the road these days. We have had the technology for decades. Big oil & car companys special interest only reason we still have gas/diesel burning transportation.
All our jobs shipped to Commy Red China etc. and every one raising heck about tomato pickers!
What technology are you talking about? Hopefully it isn't electricity because electric cars are a farce. About the only viable system available right now is natural gas and a future system would be based upon hydrogen. Until then, fossil fuel is what we are stuck with.
Oh, and I am all for taxing the crap out of off-shore manufacturing of good brought here and sold. Make the cost the same as if it was produced here by a legal resident paid a livable wage (more than what they get from the government).
Fix the system!
<< <i>Here is a simple brief on the flow of Illegal Aliens Infiltrating and taking American Citizen Jobs: They come here first and may or may not start in an Farm labor type employment. >>
And look what happened when the illegal farm labor was given amnesty several years back. They all moved out of the field and started working in the mainstream labor force. They no longer worked the fields. I live in an area where it happened and saw it happen with my own eyes. In about two to three years after amnesty was granted, the Ag community was crying because they didn't have a labor to work their fields and orchards.
<< <i>
<< <i>It's 2011 there should NOT be a gas burning vehicle on the road these days. We have had the technology for decades. Big oil & car companys special interest only reason we still have gas/diesel burning transportation.
All our jobs shipped to Commy Red China etc. and every one raising heck about tomato pickers!
What technology are you talking about? Hopefully it isn't electricity because electric cars are a farce. About the only viable system available right now is natural gas and a future system would be based upon hydrogen. Until then, fossil fuel is what we are stuck with.
Oh, and I am all for taxing the crap out of off-shore manufacturing of good brought here and sold. Make the cost the same as if it was produced here by a legal resident paid a livable wage (more than what they get from the government). >>
Solar power & electric. Only reason electric cars ain't worth a hoot is because no R&D or incentive to make them work. We can put a man on the moon in 1969 surely you not blind to the technology that exists in 2011!
<< <i> and every one raising heck about tomato pickers!
A Very Naive Statement. I hope you don't mean it, or you are just very uninformed about the insidious and self destructive nature of our country's
Representitives to have allowed unbridaled ILLEGAL IMMIGRATION. Tomato Pickers ? try Contruction workers and all other service
industry jobs as well as forcing American Citizens to learn Mexican/Spanish in order just to be able to compete with Not only entry level positions but Supervisory Positions as well. Or maybe you don't live in a border state and you just don't have a clue as to the magnitude of this very very serious problem.
It is the #1 Problem of this Century for the United States of America.
No country in the history of the world has ever survived, that allowed unbridaled Illegal Immigration to exist for extended periods.
I appologize in advance for the upfrontness of my comments but the PROBLEM IS HUGE and growing daily. We must Act !
When you say solar panels and electricity, you are saying the same thing. So, we either burn coal or oil to generate electricity. The materials they use to manufacture the batteries for the electric cars mainly come from China where it is cheap to obtain. Therefore, nothing is really solved. You reduce dependency on one item by increasing dependency on another, both of which are outside the US.
Besides most I know & see are hard working folks. We shipped all our jobs outside the USA for loopholes & tax breaks there's the problem.
We had plenty of "illegals" in 2005 & plenty of jobs. Personally I have nothing against a person who is hard working and trying to better their life for their family & children.
He all are descendent's of immigrants more or less. Unless your 100% pure blood American Indian.
Create JOBs & Fix the system.
<< <i>Someone must work for a oil company if they think the battery & solar technology is not out there to power transportation. >>
Wrong. I work for an electrical company and we have studied solar, wind and geothermal energy sources as well as battery and pump storage. If you are willing to pay, it is there but you are not going to like your electric bill. In fact, your stack of PM is going to go way down!
Provide a link to these imaginary cheap battery and solar technologies you are so proud of unless this is all just a conspiracy theory. I would love to read about them.
<< <i>He asked (loosly paraphrased) why is the federal government mixed up in assualting people at the airports in the name of security and at incredible public expense when it should be the private airlines job to provide security on their aircraft. He said that they hire private guards for moving money around in armored trucks and no one gives it a second thought about it and the trucking company pays for the security, why shouldn't the private airlines bear the multibillion expense for providing security on it's own aircraft instead of sticking the bill on the fed? Public safety = public expense or private enterprise = private expense...it left me with the thought that they should either nationalize the airlines in the public interest or charge them with providing their own security. Heck the airlines are so heavily regulated and secruitized it's almost a govt. agency now but they still operate as private, for profit business...there's some kind of conflict here. I know...there is plenty of possible debate on this orientation but it was interesting to see it presented in that way.
>>
i don't like the abuse either, but how would one set up individual airline security at major airports?
i think there is an economy of scale doing it they way it is. yet it's a RPITA
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Someone must work for a oil company if they think the battery & solar technology is not out there to power transportation. >>
<< <i>
<< <i>He asked (loosly paraphrased) why is the federal government mixed up in assualting people at the airports in the name of security and at incredible public expense when it should be the private airlines job to provide security on their aircraft. He said that they hire private guards for moving money around in armored trucks and no one gives it a second thought about it and the trucking company pays for the security, why shouldn't the private airlines bear the multibillion expense for providing security on it's own aircraft instead of sticking the bill on the fed? Public safety = public expense or private enterprise = private expense...it left me with the thought that they should either nationalize the airlines in the public interest or charge them with providing their own security. Heck the airlines are so heavily regulated and secruitized it's almost a govt. agency now but they still operate as private, for profit business...there's some kind of conflict here. I know...there is plenty of possible debate on this orientation but it was interesting to see it presented in that way.
>>
i don't like the abuse either, but how would one set up individual airline security at major airports?
i think there is an economy of scale doing it they way it is. yet it's a RPITA >>
Economy of scale doesn't work when the government is providing a service. Can you imagine what a retirement plan would cost the taxpayers if the government provided it. Oops, they do that already.
I think his point was to let the airlines pay for security and pass the cost on to the customers and not the taxpayers. I don't fly, why should I pay?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
i wonder if it eats gold and silver?
What makes it not a Ponzi?
"The answer is idiotic" says Santelli.
Bernanke is toast. Gold is butter. Not before he creates bit more dollar destruction though. QE to inifinta says Cartmen.
Miles
BTW, I love to dump a clutch and burn rubber for half a city block as much as any one. I'm just saying being dependent on fossil fuels is a yesterday way of life & thinking. Hell in 1969 when I was a child of 8. I figured by 2000 we'd be in George Jetson's world
<< <i>I nominate Mike Shedlock (MISH) for Fed chairman. His fix for the economy:
1. Banks and bondholders should take a hit. Banks are not going to lend anyway so bailing them out at the expense of taxpayers is both morally and economically stupid. End the bailouts, all of them, and prosecute fraud, the higher up the better.
>>
I fear fraud and corruption go so deep and are so pervasive those in power will be
forced to cling to power because the alternative would be prosecution. At this point
we need to avoid any idea of prosecution. Yes, some of the worst of it will have to
be brought to light as a lesson to others but planning on putting all the crooks in jail
reduces the chances of getting any of them there.
I'd be all for going after the food industry in depth.
People shouldn't be counting any chickens while the eggs aren't even laid. If all we're
going to get is the other kind of republocrat there will be no substantive change except
what benefits wall street, banks, and the military indiustrial complex.
We need the rascals out. We don't need a new bunch of rascals who cover for street
gangs and maintain failed schools.
People should follow Indiana's lead and then get out ahead of us.
Regarding electric cars - if you want incentive to "make them work", please tell me what that's supposed to mean? In most cases, it means that a shyster is going to make money at the expense of taxpayers with the help of the government and that consumers will end up paying more, for something that doesn't work worth a darn.
I have a great idea! Let the market figure it out. Whoever comes up with the idea that "makes them work" WITHOUT government subsidies would, and SHOULD get filthy rich. How's that for incentive?
"They" want to make coal and oil more expensive by taxing and regulating them to subsidize "green" energy such as solar, wind and geothermal. Their edicts are so full of inconsistancies that they've lost any and all credibility.
Al Gore and his co-conspirators want a carbon exchange, so that they can become the major shareholders and use it to multiply their wealth. I vote NO.
The Kennedys wouldn't let a wind farm go up in Cape Cod, even though it would have been quite practical and hardly visible. I vote YES.
The Carnahan family legislated themselves their own taxpayer-funded windfarm installation in Missouri. I vote NO.
Gasohol has been proven to have barely more BTUs than it takes to produce it, aside from the fact that enough of the corn used in its manufacture was taken off the market to cause a spike in corn prices and threaten food supplies in Mexico. I vote NO.
Huge solar arrays in the desert have been shown to create big problems with concentrated heat generation in the desert environment and causes major damage to the environment in both their construction and the infrastructure needed to bring cooling water into the works. I vote NO.
The batteries used in electric cars are inordinately expensive and have questionable shelf life before they have to be replaced. I vote NO.
Most of these "progressive" big-government-mandated edicts are jammed through to suit an agenda and not to provide a breakthrough source of energy with breakthrough costs to consumers.
Let the innovators and the risk-takers work on the problems, and reward them for doing it. And stop making them jump through all kinds of hoops if they aren't hurting anyone. Help them and not the big government goons.
Making a buck in a capitalistic society should come about as the result of doing something extremely well that provides a good or service to many people, not from "being on the inside" in a government-funded project that doesn't produce anything of value.
Just my 2 cents.
I knew it would happen.
How can we have free market when we bail out the TBTF's etc.?
<< <i>
I think his point was to let the airlines pay for security and pass the cost on to the customers and not the taxpayers. I don't fly, why should I pay? >>
gotcha
Please explain in detail how that works.
I knew it would happen.
We have a 850mW hydroelectric plant. Our state, with the help of the feds have pushed to have several wind farms erected so we would have "green power." Well, guess what, the wind blows the most when the snow is melting and the water is running down the river. The wind machines subsidies are based upon the power they generate. We have to generate rather than spilling due to salmon issues.
So, at certain times, we have to pay electrical companies to take our power so the wind farms can generate power and get their federal subsidies (which run around $3 to $4 per kW). Now, who has the high $$ lobbists?
Yep, that's the easy read but I see more in the discussion. On the larger scale, it seems like we have kept some key prices well below their actual cost. Flying and the associated security should be paid by those that use the service, not the poor schlepps that are not using it but getting still getting to pay for it anyway because it's a public program paid for with public money. Gasoline, should probably be about 2 buks higher at about $5.50 or $6; how can you drill and pump the oil, transport the oil for 6000 miles, refine it, ship it, market it, and get it out of the nozzel of the pump with additives, summer blending, no-lead, and fully taxed for $3.50...Jezzzzzzz, it's cheaper than bottled water? It's absurd that the prices are so low...keeping it within the means of the middle class; very politically correct. I'm sure there are many examples and I'll come up with some at some point but there is such an uber fight over keeping prices within the means of the middle class.
On the other hand, what we actually should be paying for cars should be much less but people allow themselves to sit in front of the TV and get carpet bombed by the merciless car advertisements set to either classic rock or hip-hop music and they don't realize that they are paying for all those beautiful ads whenever they buy a car; it's kind of like annoy the crap outta me and then make me pay for your advertising. We should be paying for the airport security when we fly but that would put tickets outside of the reach for the summer vacations and visiting gramma.
It's difficult to summarize because it is worthy of some graduate thesis on someone getting the fleeceus...hummmmmmm, I wonder who it is?
<< <i>Big oil & their high $$ lobbyist are what keep any other energy source from being in mainstream
Please explain in detail how that works. >>
Here you go!Educate thy self
<< <i>Give me a break on the solar. The recent Solyndra bankruptcy cost the taxpayers over $500 million in loan guarantees. That $500m paid for 1100 jobs for 18 months, and a photo op for president. Spain bet heavy on solar and now has 20% unemployment, 50% for 25 year olds, with a climate that is better suited to solar than most of the U.S. Nobody is stopping solar, if anything politicians in the U.S. and abroad, have been pouring way too much money into solar, and not enough into proven methods of energy production that aren't as politically popular. >>
So what's your idea? Proposal? Searching for answers not rehashing bashing! What type of new energy do you see as a new path?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Big oil & their high $$ lobbyist are what keep any other energy source from being in mainstream
Please explain in detail how that works. >>
Here you go!Educate thy self
GM, Chevron and CARB killed the NiMH EV once, will do so again
In 1994, Stan Ovshinsky, the inventor of the NiMH battery and principal of Energy Conversion Devices with the late Dr. Iris Ovshinsky, sold control of the NiMH batteries to a jont venture, GM Ovonic, between GM and his company, with the goal of manufacturing patented NiMH batteries for EVs. Ostensibly, GM was supposed to go into production, and thus, it seemed, perhaps, natural to allow them control of the battery they would, supposedly, be using. In the event, Honda and Toyota used NiMH 4 years prior to GM's final release of a NiMH version of the EV1.
But passing control of the batteries to GM proved a fatal mistake for the future of EVs.
GM announced on Oct. 10, 2000 the sale of the worldwide patent rights for the NiMH batteries to Texaco. Six days later, on Oct. 16, 2000, even before the sale was consumated, Texaco announced its merger into Chevron, the successor to Standard Oil of California. The sale of the batteries was finally concluded on July 17, 2001, long after Texaco had become one with Chevron.
Chevron/Texaco received "...GM's 60 percent stake in [NiMH] batteries, and a 20 percent stake in ECD itself...", giving Chevron effective control of NiMH.
On Mar. 6, 2001, just months after inheriting control of NiMH batteries, Chevron's associate/subsidiary cobasys filed suit against Toyota, Panasonic, their PEVE joint venture, Sanyo et al.
On December 12, 2001, Chevron's affiliates filed an arbitration demand...with the International Chamber of Commerce...In December 2002, an arbitration agreement...on Nov. 4-19, 2003, the hearing was held, and concluded on Jan. 21, 2004.
On July 7, 2004, the settlement agreement ended in complete defeat for Toyota, Matsushi-ta and their joint venture, PEVE. NiMH was only mentioned for "hybrids", those which cannot plug in, and Cobasys, Chevron's unit, became distributor of PEVE batteries, received $20 million licensing fee, in addition to $10 million paid to Energy Conversion Devices.
"Cobasys will also receive royalties through December 31, 2013 on certain NiMH batteries sold by [Toyota] in North America."
Chevron oil, the successor to Standard Oil of California, thus worked with GM to eliminate the batteries needed for plug-in EVs, similar to how America's small urban commuter railroads were bought up by the same surprising buyers. The railroads were dismantled, the right-of-way lost to the public domain, just as the NiMH batteries are now unavailable to run EVs or plug-in hybrids that can replace our oil addiction and address global warming concerns.