Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: GraceZ who wrote (7336)	12/20/2002 5:23:59 AM
From: elmatador	Read Replies (1) of 74559

<>sitting in a bank vault>> When you put money in a bank, it doesn't "seat" there. It is used by someone else to use it productively. Well, that is the official script. If I put money say in Brazilian bank -which the governments want me to do, by jacking up interest rates to 25%- the money is spent paying the pension and salaries of redundant civil servants of which, Argentina had 400.000 of them and that's why it went kaput. Most money nowadays are going to such purposes. That because governments are not being deflated. Loaning money to governments, is the most wasteful think one can do!! \

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