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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 (72210)	10/17/2006 3:09:11 PM
From: orkrious	Respond to of 110194

All of Heinz's posts are good. That is one his best.

To: ild who wrote (72210)	10/18/2006 11:01:47 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

the whole "social mood controls everything" line is reductio ad absurdum pseudo-mystical claptrap. it sounds exactly like the crap Prechter has been preaching all these years--you know, the guy who's still waiting for the crash of 1990. since the fiat money system is entirely 'faith based' - essentially, a confidence game - it is especially prone to often violent reactions to such mass mood swings. sorry, fiat systems have many faults, but being "especially prone to violent reactions", compared to gold-backed regimes, is not among them. things were even less stable under gold, or does anybody think the average human lived better before the 20th century. if you think about it, EVERY form of money is faith based. gold is faith, just like those boulders used as money by those islanders. to us, they're just big rocks; but to generations of those islanders, they were the one true "store of wealth". hmmm, store of wealth, where have i heard that before?