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To: Box-By-The-Riviera™ who wrote (166932)	5/20/2002 8:10:57 PM
From: Lucretius	Read Replies (2) \| Respond to of 436258

that is sooooooo old news.... is he just now coming across that? LOL you short more CAU today? -g-

To: Box-By-The-Riviera™ who wrote (166932)	5/20/2002 9:09:06 PM
From: KeepItSimple	Read Replies (2) \| Respond to of 436258

this time it's different, eh alan? (from greenspan's paper written 3 decades ago) The reasoning of the authorities involved was as follows: if the Federal Reserve pumped excessive paper reserves into American banks, interest rates in the United States would fall to a level comparable with those in Great Britain; this would act to stop Britain's gold loss and avoid the political embarrassment of having to raise interest rates. The "Fed" succeeded; it stopped the gold loss, but it nearly destroyed the economies of the world, in the process. The excess credit which the Fed pumped into the economy spilled over into the stock market-triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed.

To: Box-By-The-Riviera™ who wrote (166932)	5/20/2002 10:15:08 PM
From: CuriousGeorge	Read Replies (1) \| Respond to of 436258

That was Alan, before the Kool Aid <<This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. >> There is an irrational liberal at work that believes Greenprint is the Messiah, the Fed is great, the gold standard was and is foolish and if I don't like those green pieces of paper, backed by the full faith and credit of the US gubmint, and it's ability to extort money from the citizens (at gunpoint when needed), can he have'm? However he rants and raves about the 5 trillion dollar debt we are passing to our kids and grandchillen, and blames it all on Ronald Regan. What he doesn't understand, and will never understand, what he has never considered, is gold standard market forces would prevent the gubmint from running up such a debt. Here's another classic from a classical liberal It is so appropriate to these times, but was written fifty years or so ago! department.monm.edu BTW, gold sucks -g- CG