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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (11401)	4/6/2004 12:32:47 PM
From: Silver Super Bull	Read Replies (1) \| Respond to of 110194

RW, RE: "Importantly, it would destroy the USD, perhaps permanently, as nobody will accept this jeezum as real money." Yes, of course I totally agree. But it really depends from what angle one views the role of monetary policy in aggregate. Is the role of monetary policy to promote price stability, keep the dollar stable, or keep the economy growing? Sure, many people would say "all of the above" but at some point (perhaps soon) it may be impossible to "have it all." From what I can see the overriding concern is the strength of the economy. (Hence, the incredible fiscal and monetary stimulus we have seen.) If the perception is that the economy is really sagging, this will dictate policy IMHO. The current economy theory is that The Great Depression was caused by excessive tightening at a time when loosening was needed. DB