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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.83

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To: HairBall who wrote (25027)	9/7/1999 3:48:00 PM
From: r.edwards	Read Replies (3) of 99985

The federal Reserve System was only established in late 1914. It had very little power in 1929 as most banks were not members and issued their own "bank notes",over 90% of banks were not members in "29. The banking acts of 1933 and 1935 greatly expanded its power as a RESULT of the 29 debacle, Dohmen in his article failed to take this into account, and the dustbowl mentality of rural banks, or the excessivley high margin limits prior to 29 not the 50% we have today. I think a panic can happen any time, but the comparisons to 29 are just so people can see their name in print.

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