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Well, not really far fetched, considering most things in Star Wars are very far fetched.

It just seems like the kind of excuse GL would use to cover up a plot hole... Y'know?
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It makes more sense to me than most of the other plotholes. The Jedi were effectively set-up by Palpatine to train Anakin. Anakin was a ticking time bomb ... a trojan horse the Jedi accepted. In the end, the sole reason Anakin was so deadly was because he was inside the Jedi order.
That's true, but if Palpatine actually created Anakin, wouldn't he have put him on Courasant so that the Jedi would identify his powers early and accept him even sooner? It just is weird that he would place him on some weird, out of the way planet like tatooine and with Shmi, a slave.