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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Haim R. Branisteanu who wrote (52453)5/28/2000 10:57:00 AM
From: Crimson Ghost  Read Replies (1) of 99985
 
Haim:

Isn't the present international financial system that allows the US to live beyond its means year in and year via huge trade deficits essentially the same as the Roman system of forcing conquered lands to pay annual tribute?

Of course the mechanisms are very different, but the net result is the same -- the center of the empire lives beyond its means at the expense of subject nations.

I recall attending a presentation of then FOMC member Lindsey some years ago where he said in no uncertain terms that the Fed's greatest fear was that the dollar might someday lose its status as the key reserve currency.
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