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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: regli	4/12/2006 12:52:09 AM
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Very interesting comment that has special significance today. (Thanks to Frustrated at Kitco) Great interview as mentioned before here with Walter J. (John) Williams. weedenco.com "... During the Reagan Administration, there were methodological changes made to the GNP—and there was an actual overt manipulation of the trade data following the stock market crash in ’87. At the end of that year, as the dollar was crashing, manipulating the trade data was part of an effort to turn the dollar to the upside. There had been a series of real bad trade numbers and, they psyched out the markets by coming up with a really good trade report. It amounted to a massive intervention but they succeeded in bottoming out the dollar and successfully turned the market. It was a very dangerous time and I guess you could justify that intervention on the basis of national security or economic security. ..."

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