Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (28088)	9/16/1998 6:13:00 PM
From: yard_man	Read Replies (2) of 94695

I think railroads were not the point, but capital flows and the discipline that was imposed by a gold standard. He argued that the current system of fiat currencies combined with the recently more open flow of capital was less sensitive to correcting problems of overinvestment before they got started, especially the type that bred the problems in East Asia. More scrutiny seems to be the cure in Mr. Greenspan's mind. I'm not sure I agree. Maybe some of these problems cannot be eliminated.

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