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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Jim Willie CB who wrote (20361)	10/20/2004 5:47:14 PM
From: Elroy Jetson	Read Replies (1) of 110194

Here's one of my favorite quotes written in 1952 by my Grandfather's cousin. Although written fifty years ago it could be a sage commentary from this morning's newspaper referring to Greenspan's illogical policy of price stability during a deflationary period. "A policy aimed at monetary stability will secure a relative stability of prices, but the economic history of the 1920s teaches us that a policy whose goal is stabilization of prices may result in inflation of money and credit, and very unsound speculation." Charles Rist, Sorbonne economist and Governor of the Bank of France

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