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Strategies & Market Trends : Natural Resource Stocks
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To: c.hinton who wrote (2588)10/28/2003 3:44:59 PM
From: Jim Willie CB  Read Replies (2) of 108685
 
most Chinese govt actions were to move bank reserve reqmts
from 6% to 7%
this is a wise move

they have some massive problems with former state subsidies
now deemed state loans which are defaulting widely

we will see how they handle it all

the USA has not had capitalism for 100 years
we do have capitalist opportunties within a socialist cripping system
where state power and state taxation and state suffocation and reduction in personal rights are all widespread

my money is on the Chinese to continue to make wise decisions
imagine the effed up Fed raising reserve reqmts by 1%
no, they keep rates ridiculously low in order to offer real estate and every other bond market absurd inflationary opportunities

since when does our vast capitalism experience benefit American citizens?
we inflate until the cows come home
in recent years, the cows are being shipped to Asia

your points are well-taken, but largely SEMANTIC
so what if they have little "pure capitalism" experience?
does that mean they will make greater errors than the more experienced Americans?
of course not, since we make colossal errors
e.g. setting up Fed in 1914
e.g. seizing private gold in 1943
e.g. abrogating Bretton Woods in 1971
e.g. deregulating Savings & Loans in 1987
e.g. selling out AFL/CIO to Mexico in 1994
e.g. rescuing private LTCM in 1998
e.g. selling out the rest of US Labor with MFN China in 1999
e.g. raiding Gold Treasures from 1994 to 2003
e.g. inflating MZM in 2001

in the USA, we instituted the Fed in 1914
within 15 years, we brought on the Great Depression
the Chinese study our history more effectively than Americans do

we re-write our history
we obscure our history
just like Asians benefit more from our own patents, they will benefit from our own recent capitalism history
to think otherwise is folly
they are patient and have little conscience in crushing some individuals in order to preserve the system
e.g. Tianenman Square

we preserve the wealth of the elite and politically connected at the risk of endangering the system
their way is better
but we remain THE CAPITALIST ARROGANT
even as our system is imploding and hemorrhaging

enough on this topic
get the last word in, and I will not respond further
/ jim
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