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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (65694)	8/3/1999 10:13:00 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

Mike - the-moneychanger.com "... DON' TH'O ME IN DAT BRIER PATCH! Now, the Federal Reserve whines and moans about inflation. That's silly. They don't fear inflation, any more than B'rer Rabbit fears the Briar Patch. They know who creates the money and who controls the interest rates. If they can control money creation and interest rates, which they do, they can control inflation. So, inflation presents no problem to the Federal Reserve. However, they cannot control deflation. I don't have to prove that theoretically because within living memory it has been witnessed in US economic history. In 1929 after a long inflation (engineered hand in hand by the US Federal Reserve Bank and the Bank of England), there came a point where someone said, "I want my money." The credit questioning began. The stock market took a big dive and a terrible depression resulted..." Regards, Don