Richard, demagogue might be an accurate discription of your post, which I copied
a partial below, if the explaination of Alan Greenspan's job objectives as described by James Turk, are correct. Doug
<<How many hedge funds ... will get a bail-out...
... Should we demand it be NONE?
Greenspan, ...Why is it "systemic risk" when Bankers & hedge funds,
& their investors investors bite it, but "constructive destruction"
when blue collar types or investors in gold mining or anyone else has...>>
StockTalk: Gold Price Monitor
Wednesday, Jan 26, 2000 ÿ4:14 AM ET
In this GATA War The Truth should be visible...
Subj: James Turk - We Inch Closer to the Truth
Date: 1/25/00 12:33:44 PM EST
From: LePatron@LeMetropoleCafe.com
Le Metropole members,
James Turk of The Freemarket Gold & Money Report
has served commentary at
The Kiki Table entitled, "We Inch Closer to the Truth."
The Kiki Table
Discussion du Jour: Potpourri
James Turk
The Freemarket Gold & Money Report
January 24, 2000
Interim Letter #257b
We Inch Closer to the Truth
In Letter.....
... a few words in defense of Mr. Greenspan.....
... First, there is Mr. Greenspan the technocrat.
In his capacity as head of the Federal Reserve, Mr. Greenspan is very
capably doing what he has been hired to do. He is using all of the power
available to the Federal Reserve to keep the fractional reserve banking
system from imploding, which would undermine and destroy the Dollar and
the profits of the banking system that employs him. The Federal Reserve
does not operate for our benefit, but for the benefit of the banks. They
own it (the Federal Reserve is a private corporation), and they control
it (we have seen time and again how the Federal Reserve bails out the
banks when they get into trouble). Thus, like a good soldier following
orders, Mr. Greenspan testifies before Congress and takes the
pro-banking point of view. For example, when Mr. Greenspan makes his oft
repeated testimony that he is against full disclosure of bank derivative
exposure, do you think he is speaking his own personally held view or is
he answering how the banks want him to answer?
The strict control of derivative disclosure is clearly something the
banks want. Admittedly, we don't really know Mr. Greenspan's personal
view, but this brings me to what I called the second Alan Greenspan.
Let's call this side of him the 'sound money man'.....
... because of his technocrat position as head of the Federal Reserve,
he couldn't tell us anyway unless his bosses (i.e., the banks)
allowed him to. Don't wait for that to happen. But I think that we should
give Mr. Greenspan the.....
Copyright 2000 by The Freemarket Gold & Money Report.
All rights reserved.
Send mail to lepatron@lemetropolecafe.com with questions
or comments about the cafe.
Copyright 1998 Le Metropole Cafe
All the best,
Bill Murphy
Le Patron
www.LeMetropoleCafe.com
The above mention of GATA is as follows.
Bill Murphy, Chairman, Gold Anti Trust Action (GATA) gata.org
Also, GATA related articles can be obtained at the pay for view site.
Bill Murphy, Le Patron, Le Metropole Cafe lemetropolecafe.com |
