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To: Mike M2 who wrote (148)	4/1/2001 2:09:24 PM
From: Ilaine	Read Replies (1) \| Respond to of 443

Mike, I have not read 650 pages of Richebacher. I do know, however, that the League of Nations statement that 85% of investment was speculative is meaningless. Why is it meaningless? Because it does not define "speculative", nor does it give any factual basis for the conclusion. Just because Richebacher read something in a book somewhere doesn't make it true. People can say anything they want. Show me the numbers.

To: Mike M2 who wrote (148)	4/1/2001 2:17:25 PM
From: Ilaine	Read Replies (1) \| Respond to of 443

On another topic - saying there are too many dollars with respect to the gold supply is exactly the same, mathematically, as saying there isn't enough gold with respect to the money supply. The difference is that "too many" and "not enough" are value judgements, they are conclusions. The facts speak for themselves - show me the ratio of dollars to gold, and let me draw my own conclusions, please. I don't mind reading or ignoring the commentary as I choose as long as I have the facts. But commentary without facts is garbage to me. It doesn't satisfy me in the least. I have a stack of books and research articles I am going through, which at least have the virtue of giving footnotes. There is a lot of research done all the time on the Great Depression - Freidman and Schwartz are outdated - Anna J. Schwartz continued to expand on the work long afterwards while Friedman wrote popularizations - I think she is still active, at least she was in 1998. I don't seem to be running across any current research being done by Austrian economists. Maybe you could point some out to me?