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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (81664)3/16/2001 3:22:33 PM
From: ahhaha  Read Replies (2) of 436258
 
They raised rates at the end of '31 in order to stop an imagined drain on gold reserves. They did this at the worst possible time. A year later they realized their error over the objections of Treasury Secretary Morgenthau, a favorite of Roosevelt.
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