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To: patron_anejo_por_favor who wrote (120244)	9/9/2001 10:11:29 PM
From: Tommaso	Read Replies (1) \| Respond to of 436258

I certainly agree that debt is toxic waste. I don't have any debt whatever. But it looks to me like the Fed is trying to inflate us out of the debt, and any government that is determined to debase a currency can easily do it. I think the fed is terrified by exactly the figures and charts that show deflation. They don't want another Great Depression. if we were still on a gold standard, a huge deflationary depression would be inevitable, because the gold standard would limit monetary creation. But the Fed can create credit without limit and has pretty much been doing so for the last six months. Incidentally, I don't think this will stop the collapse of the stock markets. They are too overvalued to stay up. Look at yesterday's Barrons! The P/Es are actually higher for the Dow and S&P than a year ago because of declining earnings. I expect both to be more than cut in half from where they are now.