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

To: ild who wrote (42081)	9/22/2005 1:50:27 PM
From: ild	Read Replies (1) \| Respond to of 110194

Date: Thu Sep 22 2005 13:38 trotsky (@CBLRF) ID#248269: a spectacular resurrection - up 80%. Date: Thu Sep 22 2005 13:34 trotsky (morbius) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved also, under FDR, government spending as a percentage of GDP eventually soared to a record that stands unsurpassed to this day. again, how did gold hold him back? the reality is that with the arrival of the Fed and FDR's 'new deal' on the scene, the gold backing became only a theoretical issue. it had no more practical effect, the fiat system had been born. Date: Thu Sep 22 2005 13:30 trotsky (morbius) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved "Two problems with that analysis. In the 30s the dollar was backed by gold, so there was a real shortage of money relative to debt" this doesn't jibe with the data. the Fed increased free banks reserves by over 400% ( ! ) from late 1929 to early 1933. obviously, it was not at all hindered by the alleged 'gold backing'.