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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: edamo who wrote (16876)	11/16/2000 11:11:16 AM
From: Voltaire	Respond to of 65232

One thing I learned - DON'T MESS WITH EDAMO WHEN IT COMES TO FACTS. Vster - looking for an Almanac

To: edamo who wrote (16876)	11/16/2000 11:21:52 AM
From: LLCF	Read Replies (1) \| Respond to of 65232

<"around 40%" of our history....only the most important 40% which was the industrial growth of our history...> I disagree with your assertion that all economic history prior to 1913 vs 1913 to present proves the federal reserve creates more recessions/problems than before. As far as I know there is no evidence to back this assertion. <and to correct another of your inaccuracies, it was created to regulate the banking system, in essence to unite under similar regulations entities that were previously singularly unrelated...> From a Federal Reserve web site: <The Federal Reserve System is the nation’s central bank. Its history dates back to 1913 when Congress created the Fed to mitigate the economic booms and busts of the 1800s and early 1900s. Its mandate was to add flexibility to the supply of currency and serve as a stabilizing force in times of crisis. Today, the Fed promotes a stable financial system and a healthy U.S. economy through its monetary policy, regulations, payment and financial services.> rich.frb.org On top of that note that 'state chartered' banks not even in the system were allowed. <never chartered to mitigate "booms and busts"> I didn't imply there even was a 'charter'. The fed was created by congress, and apparently {according to the above} has a mandate although I think there has been some 'spinning' of that to try and include some employment goals. <good luck with your misconceptions> ditto DAK PS: <.if it was the economic collapse of 1929 wouldn't have happened...> we agree here.