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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (18555)	4/30/2002 1:36:51 AM
From: smolejv@gmx.net	Respond to of 74559

Hi CB: it is well evident, that at the end of the period shown (1915-1933) there was a large run on the gold reserves. Nowadays J6P would have no chance (as you pointed out) to go and get his dollar bills changed to Au at the pegged parity. Right now it would cost him 309$ plus change plus commission, not the 39 or 36 (dont remember anymore, so long time ago;). Point is, it's a different world. re >>...the gold was transferred from state and national banks into the Federal Reserve system, and that made the banks unstable...<< and it took this factor 15+ years to topple the banks? Not very probable. Re log vs linear - log is better of course, but otoh if theres no (appreciable) difference, both graphs turn into horizontal lines (with a linear a less horizontal - as proven by CB;). dj