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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Bid Buster who wrote (12157)	3/18/2001 9:51:59 PM
From: Mike M	Read Replies (1) \| Respond to of 37746

Did you even look at the data you just posted? Take a look at what happened in 31... 1930-12-31,2.000000 1931-12-31,3.500000 1932-12-31,2.500000 That 1.5% raise was dead in the middle of the FED cuts. Moreover: The Federal Reserve did not use open market operations to keep the money supply from falling. Instead the only significant systematic use of open market operations was in the other direction: to raise interest rates and discourage gold outflows after the United Kingdom abandoned the gold standard in the fall of 1931. The Federal Reserve thought it knew what it was doing: it was letting the private sector handle the Depression in its own fashion. It saw the private sector's task as the "liquidation" of the American economy. And it feared that expansionary monetary policy would impede the necessary private-sector process of readjustment.