Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (57252)	12/16/2004 3:47:21 AM
From: Maurice Winn	Read Replies (1) of 74559

< In America, we do things differently. We simply crank up the printing presses, hand out I.O.U.s and then wait until the unwary aren't looking and blammo!! we inflate ourselves out of debt. Isn't this what all great nations do?> Ray, you obviously haven't been reading my rants religiously over the years. Heck, coming up to 9 years soon! Cyberspace is getting elderly. It's not just great nations which do that, but pathetic little tiddlers too. There is fiat theft all over the planet. One of the more sneaky methods is the productivity swindle. Thanks to things getting cheaper in hours worked to produce them, the pixelators are able to use financial relativity theory to make it seem that money has the same value as it had. Meanwhile, they pocket a vast quantity of freshly minted pixels, diluting existing holders but are still able to show that there is no inflation. Nevertheless, interest rates tend to compensate for the process, so people can sometimes hold a currency without losing. My rule is to not hold fiat currencies. However, I've been breaking my rule for the last three years due to a mistake in missing the NZ$ move and one thing and another. Mqurice

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