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To: austrieconomist who wrote (14278)7/18/2003 9:21:06 AM
From: TheSlowLane  Read Replies (1) | Respond to of 39344
 
I've been watching your money supply comments with interest, so I was a little shocked to see these comments recently by Harry Schultz:

"To make it worse, not only is money supply shrinking lately, but the velocity of money is dangerously low. As Jim Sinclair says: "The US Fed talks a big stick & carries a wet noodle." Is this bad news? No, it's horrible news. It is precisely the pattern the Fed followed in 1928, which led to 1929's crash & the Great Depression."

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