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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (6327)	6/26/2002 8:47:36 PM
From: Raymond Duray	Respond to of 33421

Hi John, Re: We're lucky as can be that we've got the FED standing buy to monetize collapsing assets. We have the means to deal with sinking asset traps and deflation. Absolutely remarkable statement. I'm impressed by the chutzpah. With one sweeping and grand wave of the wand you've just said that it's perfectly moral and ethically acceptable for the wealth of the American taxpayer to be seized by an unaccountable cabal of bankers and used to bail out a set of criminal operations pretending to be the cream of American business. That is astonishing. It is morally bankrupt. It is flat wrong. Using the power of the FRB to debauch the currency to bail out criminals is a sure road to ruin for this nation. We must resist such an insane suggestion. Best, Ray