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

To: gpowell who wrote (53703)	2/13/2006 12:49:22 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

A "free market" system for money only exists when there are multiple currencies in use competing against each other. A "free market" monopoly with a "free market Fed like clearing-house" is in no way related to free markets. This situation existed, pre-Fed, in early American history, with competing banks each offering their own currency. The value of each currency fluctuated constantly, and due to the lack of fast electronic communication the value of each currency declined as the distance from the bank of issue increased. This situation turns "Gresham's law" on its head where good money drive out bad. Gresham's so called law only applies where there are legal tender laws requiring fixed exchange rates. In that era, precious metal money was alway preferred as its value was more stable and it would appreciate in value, in tandem with increases in societal wealth, without the need to deposit it in a bank to "earn interest". Why did this situation change? The business community argued, just as Inflationists like Grace Zaccardi do today, that prosperity depends upon voluminous credit and money creation. Its classic addict thinking - more crack cocaine is always better than less crack cocaine. Non-addicts understand that more crack cocaine only hastens death - it does not bring prosperity. .

To: gpowell who wrote (53703)	2/13/2006 1:10:10 PM
From: shades	Read Replies (1) \| Respond to of 110194

Yes, the fed would be abolished Yes Andy Kessler is cheering for this with you in his RUNNING MONEY book - like was at the beginning of every episode of THE BIONIC MAN - we "HAVE THE TECHNOLOGY" today to not need bankers that still makes loans to son in laws - we didn't have that before - but now we have hundreds of millions of people with thier net connection and interactive broker accounts consuming massive amounts of information and keeping markets efficient in ways a FED just can't. These corrupt crony capitalist middle men have GOT TO GO! They could have kept the lid on crazy loans in the housing market and failed - so they are BANKRUPT - they are failures. tv.com Steve Austin, astronaut, a man barely alive. Gentlemen, we can rebuild him, we have the technology. We have the capability to make the worlds first Bionic man. Steve Austin will be that man. Better than he was before. Better. Stronger. Faster." This series chronicles the adventures of Steve Austin, cybernetically enhanced astronaut turned secret agent employed by the OSI under the command