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Politics : Welcome to Slider's Dugout
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To: Kpain who wrote (7891)2/6/2008 1:02:31 PM
From: RonMerks  Read Replies (2) of 50480
 
Re- 'Printing presses and money supply'

I found this from Bob Hoye's letter regarding the dependability of government statistics on money supply, inflation etc. These quotes came during the great Weimar hyperinflation:

"In proportion to the need, less money circulates in Germany now than before the war."

-Prof. Julius Wolfe, Summer 1922

"However enormous may be the apparent rise in the circulation in 1922, actually the real figures show a decline."

-Prof. Karl Eister, 1923

Doesn't that sound like the same BS we hear today?

If you don't believe that inflation is only 2.3%- and NO ONE does, why in the hell would you believe the money supply numbers? The only two 'numbers' that matter are the value of the US Dollar and the price of gold. That's all Bernanke and company have to monitor. I hate to say it, but give me the Clinton/Rubin strong dollar policy/environment again- and you got my vote!

It all starts at the value of the Dollar- gold reflects how big of a lie the government is telling about money supply, liquidity, the economy and deficits. Raise the damn rates untill gold hits $550 and the US Dollar gets back to 100-120- and then manage the economy around those free market numbers- and let the banks take back houses from all the subprime defaults and let the market correct itself without government intervention- where the TAXPAYER foots the bill to bail out the banks.

Ron
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