:)
FIDE Rating Regulations
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At least FIDE acknowledges that rating inflation is real and currently exists . I Think another method to help control bloated ratings is to require the elite players to play in (x) number of big Opens each year , and/or to limit the # of closed elite RR events they are allowed to play ?
Could someone give me a link to this? I can't find it on the FIDE's website.
Cutting down the ratings is a good idea for sure.
K-factor change again. Will see, I am happy about it.
Finally:)
Given the date of the OP , I am smelling an April fool's comment soon . 
On April 1, 2015, FIDE has passed the Rating Regulation Act (RRA), being approved by 95% of the members of FIDE. The RRA is put into effect starting July 2, 2015, giving players time to accept the new law. What is this law?
First of all, to understand this new law, you must understand what is known as rating inflation. This is when the ratings of the top 10 players skyrocket.
For example, when Steinitz was world champion, the predicted elo of these players was at most 2000. In the 1960's, that rating was 2600. Today, it is about 2800. Clearly, something is going on. In fact, the change in rating is hyperbolic. According to FIDE estimates, players will reach the 3000 rating by 2050.
Just like money inflation, officials at FIDE worry that this will make rating points worthless and eventually, destroy FIDE, and, knowing that FIDE is the largest chess association, may collapse chess itself.
How did this happen? As more players join FIDE, they gain free points. The extra points added to the system eventually go to the next level when a 1200 loses to a 1600, to the next level when the 1600 loses to a 1800, and so on and so forth. The new rating points simply get transmitted the the highest level players. And because there are so many new people joining FIDE, this effect is huge.
So what is the RRA? The RRA, as you may already know, tries to cut this effect. One of their big ideas is Rating Equality. This is a project to cut the gap between the lowest and highest rated player. Another idea is K Factor Balance. Now, lower rated players have a higher K Factor than the highest rated players.
How are these ideas put to the test? Well, for the first idea, Rating Equality, the top 1% of chess players will now lose 25% of their rating gain. The top 10% lose 10%, and the top 25% lose 5%. This rating goes to the lowest 1%, 10%, and 25%, respectivly.
The second idea makes the K Factor for lower rated players much higher than the K Factor for higher rated players. FIDE, however, has not decided on an exact number yet.
There are clearly going to be protests about this plan. The top only want more rating points, so that they can set more records. But as FIDE President Kirsan Ilyumzhinov says, players will have to adapt to these changes so that the top don't gain too much power.
All other rules stay the same. This plan makes it so that players will make their rating to 3000 by the year 2650. FIDE now urges USCF to adopt their system too.
Other critics have other opinions though.
"FIDE ratings are so corrupted that it doesn't matter what new policies that they incorparate." says one critic. Therefore, the group known as Anti-Rating Inflation (ARI), has created a new rating system, the ARIS (Anti-Rating Inflation System).
This system starts out all new players at rating 0. All other rules of FIDE are the same.
How do you feel? Leave your opinions in the comments.