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

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To: bart13 who wrote (99844)11/23/2008 5:34:34 PM
From: pogohere  Read Replies (1) of 110194
 
As usual, great charts on your site. I see 2 things at a glance: the M1/base measure of velocity seems to be taking a breather and 13 week Rate of change buying of Treas by the central banks has dipped. I believe the week before last the central banks didn't show up to make anywhere near their normal purchases.

Re fiat successes:

Message 24036354

It's worth keeping in mind in exchanges about monetary matters that most respondents base their analysis on the view from within the Anglo-Dutch money-as-debt model. They often can't imagine, as Schacht did despite his training, that the definition of money is not restricted to money-as-debt:

"Hjalmar Schacht, who was then head of the German central bank, is quoted in a bit of wit that sums up the German version of the "Greenback" miracle. An American banker had commented, "Dr. Schacht, you should come to America. We've lots of money and that's real banking." Schacht replied, "You should come to Berlin. We don't have money. That's real banking." (2)

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