Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Hawkmoon who wrote (1220)	12/4/2000 9:31:25 PM
From: Tommaso	Read Replies (1) of 74559

Because we are on a fiat money standard and not a gold standard,it would be almost impossible to repeat the mistakes of 1930-33. The only way to do it would be to raise the discount rate 1% a month for the next year. Now Volcker did something like that to stop the enormous inflation of the later 1970s and early 1980s, but that's not what we have now. I guess I agree with the Fed (of they are levelling with us) that the greater danger is inflation. But inflation, unless it totally ruins the currency, is a lot easier to survive than depression where people quit doing anything productive at all.

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