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To: PaulM who wrote (47864)	2/4/2000 7:17:00 AM
From: long-gone	Respond to of 116759

<<From Martin Armstrong: YIELD CURVE INVERSION CLINTON ADMINISTRATION BLUNDER>> He's not the only one that said the same thing. Newt said it was much the same as pyramid scheme. Bunches of others also spoke out against it, Ross Perot had said something like the Clinton plan would work, ONLY if the money was used on the national debt, other wise, it would be like paying your mortgage with a credit card. You can live like a king for a while but when the bills come due watch out. I'm not saying which is right or wrong, but there were major detactors from the plan otheer than MA. Most of those, though, which thought the Clinton plan unworkable in the longer term have been discredited in the court of public opinion. It is best remembered, public opinion, is often manipulated or proven wrong in hindsight. The public has often been bought & sold through-out history. The next couple of years(if it takes that long) will prove one way or the other.

To: PaulM who wrote (47864)	2/4/2000 9:20:00 AM
From: long-gone	Respond to of 116759

As we are speaking of conservative thought & power in Austria, I'll post these together, & allow readers to draw their own lines.: Austrian far-right to assume power Joerg Haider: Likely to play an influential role Preparations are being made in Austria for the swearing in of a new government that includes the far-right Freedom Party led by Jeorg Haider (1100 GMT). The incoming government faces immediate sanctions by its European Union partners and Israel in protest at the composition of the coalition. Israel, conscious of Mr Haider's past comments praising aspects of Nazism, has led the protests, recalling its ambassador to Vienna. The European Union said measures to isolate Austria would be implemented as soon as Freedom Party ministers were sworn in. The US has expressed deep concern, while also dismissing a pledge signed by the coalition partners - The Freedom Party and the conservative People's Party - to uphold democratic values. (cont)(note, the "pro Nazi" comments made by this govt. & reported in our press are limited to a refusal to "wander the world & apologize & accept blame for the acts of Austrian history) news.bbc.co.uk Money and Freedom by Joseph T. Salerno [This talk was delivered at the Mises Institute conference on The History of Liberty. It is posted here February 2, 2000] The historical embodiment of monetary freedom is the gold standard. The era of its greatest flourishing was not coincidentally the nineteenth century, the century in which classical liberal ideology reigned, a century of unprecedented material progress and peaceful relations between nations. Unfortunately, the monetary freedom represented by the gold standard, along with many other freedoms of the classical liberal era, was brought to a calamitous end by World War One. Also, and not so coincidentally, this was the "War to Make the World Safe for Mass Democracy," a political system which we have all learned by now is the great enemy of freedom in all its social and economic manifestations. Now, it is true that the gold standard did not disappear overnight, but limped along in weakened form into the early 1930?s. But this was not the pre-1914 classical gold standard, in which the actions of private citizens operating on free markets ultimately controlled the supply and value of money and governments had very little influence. Under this monetary system, if people in one nation demanded more money to carry out more transactions or because they were more uncertain of the future, they would export more goods and financial assets to the rest of the world, while importing less. As a result, additional gold would flow in through a surplus in the balance of payments increasing the nation?s money supply. Sometimes, private banks tried to inflate (cont) mises.org