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To: long-gone who wrote (63727)2/14/2001 1:06:06 PM
From: Alex  Respond to of 116826
 
<<The sycophantic flattery by the Keynesian market experts over the last few years would have us expect to see Alan Greenspan forever remembered as the greatest economist and monetary manipulator of all time. Instead, his fate appears to be turning in the direction Austrian economists have long predicted. He may be remembered as being the worlds most overrated and dangerous economist.

He has obeyed the fearless cries of encouragement from the proponents of easy credit for too long, and now it seems his boat is heading straight for the rocks. The only question seems to be, will he decide to add some extra fuel to his load. It seems the Federal Bank’s only strategy in a crisis is to pump out increasingly easy credit. They would have us believe our biggest danger would be if the printing presses could not print fast enough. This as the regular reader knows is no solution. It only increases the irritation. It seems possible that the US is heading for it a severe economic adjustment and some are wondering if the US fiat currency can survive this worsening recession. If confidence in the US dollar falls, and a run starts on the banks, it could be sayonara for the world’s most used currency.>>

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