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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: stomper who wrote (15197)8/15/2001 3:43:14 PM
From: TechTrader42  Read Replies (1) of 52237
 
Interesting site, with excerpts from from "AGAINST
OLIGARCHY," by Webster G. Tarpley.

tarpley.net

"Here is a sampling compiled by Herbert Hoover of selling points used by lobbyists seeking votes for the Federal Reserve Act:

" 'We shall have no more financial panics....Panics are impossible....Business men can now proceed in effect confidence that they will no longer pu their property in peril....Now the business man may work out his destony without living in terror of panic and hard times....Panics in the future are unthinkable....Never again can panic come to the American people.'

[The Memoirs of Herbert Hoover, p.7]

"The verdict of history must be that the Federal Reserve has utterly failed to deliver on these promises. The most potent political argument against this arrangement is that it has been a resounding failure. Far from making financial crises impossible, the Fed has brought us one Great Depression, and it is about to bring us a super-depression, a worldwide disintegration."

And:

"The panic of 1929 is a prime example of a financial collapse which was not prevented by the Federal Reserve. In fact, the 1920's speculaltive bubble and subsequent crash of 1929 was directly caused by Federal Reserve policies."
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