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

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To: zamboz who wrote (101730)	2/28/2009 2:21:06 PM
From: Robin Plunder	5 Recommendations Read Replies (3) of 110194

"Obama: Well, first of all, I don't think it's accurate to say that consumer spending got us into this mess. What got us into this mess initially were banks taking exorbitant, wild risks with other people's monies based on shaky assets and because of the enormous leverage, where they had $1 worth of assets and they were betting $30 on that $1, what we had was a crisis in the financial system." like almost all of our other officials, he ignores the elephant in the room, ie, the fact that we created fiat money when we abandoned the gold standard, unleashing exponential growth in debt...and they will not admit this, and address the root of the problem because they want to maintain and expand government power. robin

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