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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ahhaha who wrote (81514)3/16/2001 12:50:38 PM
From: Ilaine  Read Replies (1) of 436258
 
>>It's clear you're from a farm state.<<

Yep. It's clear you're a city boy. -g- Think of Farm Relief as price controls and rethink it.

I disagree with you about the call rate, too. I don't think the Fed set the call rate, I think it was set by the free market. Due to liquidity problems in 1929 it sometimes spiked up to 20% for a day - during the first half of the year it was 10%. I'm working on that now - I think it was due to currency shortages due to gold supply but I've only started on that question. Take a look at the front page of the July 2, 1929 New York Times - call money spiked to 15% due to a lack of liquidity.

I'm learning history the old fashioned way, reading original sources. You can't trust secondary sources, far less tertiorary or anything further removed from the source. It's an eye-opener.

Friedman, von Mises, Keynes, it doesn't matter, they are all political tools.
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