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

To: Louis V. Lambrecht who wrote (36080)	7/14/2003 2:26:51 PM
From: LPS5	Read Replies (2) \| Respond to of 74559

There is no PPT. Are you sure? How do you know that the guys in those articles aren't in on it or being paid off by the PPT? I mean, have you ever noticed that at times equity market indexes decline, and then, suddenly, reverse direction? Pretty suspicious, if you ask me. LPS5

To: Louis V. Lambrecht who wrote (36080)	7/14/2003 4:58:55 PM
From: shades	Read Replies (2) \| Respond to of 74559

If the President's Working Group was really the PPT, do you think every former SEC and CFTC Commissioner (and there are maybe a dozen) would all keep silent after they are out? Do you think their wives (or husbands) would not tell all in a divorce hearing? Do you really think that if Harvey Pitt would have allowed George W. to fire him if he could blow the whistle? Have you ever studied the Calutron, General Groves, Daniel Bell and silver - 15 tons were borrowed in 1943, I don't believe it was all returned until 1969. A lot of people kept that secret for a long time. How many people do you think knew the Treasuries Silver Reserves? coinbooks.org I haven't seen anyone reply to this, so I thought I'd comment on Joel Orosz' note from the 12/23/01 E-Sylum in which he refers to Scrooge's poor opinion of the soundness of American financial obligations with these quotes from Chapter One of "The House of Morgan" by Ron Chernow: "When Baltimore merchant George Peabody sailed for London in 1835, the world was in the throes of a debt crises. The defaulting governments weren't obscure Balkan nations or South American republics but American states. The United States had succumbed to a craze for building railroads, canals, and turnpikes, all backed by state credit. Now Maryland legislators, with the bravado of the ruined, threatened to join other states in skipping interest payments on their bonds, which were largely marketed in London." Later, Chernow states: "During the severe depression of the early 1840s - a decade dubbed the Hungry Forties - state debt plunged to fifty cents on the dollar. The worst came when five American states - Pennsylvania, Mississippi, Indiana, Arkansas, and Michigan - and the Florida territory defaulted on their interest payments." "British investors cursed America as a land of cheats, rascals, and ingrates. State defaults also tainted federal credit, and when Washington sent Treasury agents to Europe in 1842, James de Rothschild thundered, "Tell them you have seen the man who is at the head of the finances of Europe, and that he has told you that they cannot borrow a dollar. Not a dollar." Clergyman Sydney Smith sneered at the American "mob" and said that whenever he met a Pennsylvanian at a London dinner, he felt "a disposition to seize and divide him. . . . How such a man can set himself down at an English table without feeling that he owes two or three pounds to every man in the company, I am at a loss to conceive, he has no more right to eat with honest men than a leper has to eat with clean men." Even Charles Dickens couldn't resist a jab, portraying a nightmare in which Scrooge's solid British assets are transformed into "a mere United States' security."" As you can see, Dickens wasn't the only person at the time with a poor opinion of US securities, and not without good reason!