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To: Lucretius who wrote (70130)	10/19/1999 7:26:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 86076

Morgan used the pretext of the 1907 crisis to establish the Fed...now we have a mess in the form of rampant money supply growth in the past decade fostering the biggest bubble of all time. it's just like in the '20's, only worse. people should really be concerned what the long term effects of this reckless policy on the value of the currency and the health of the economy will be. AG almost went as far as to admit in today's Q&A that last years cuts and liquidity splurge were actually a mistake. he even used the term 'fiat currency'...i was surprised. btw, i still think that AG would have reigned in the bubble sooner if it were up to him alone...obviously some of his colleagues are firm new paradigm believers and nothing short of a crash will dissuade them.