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To: elmatador who wrote (21039)	8/10/2007 3:17:54 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 219836

That's right. Every central bank can print large amounts of money. But they can't create capital. This is a "moment of realization" when people come to understand that assets they thought represented a large amount of value either never did, or have been losing value for a long period of time. Die Aufklärung. This is the way it was in 1929, when the large losses incurred from 1913 to 1929 were suddenly realized. Printing money aggressively enough postpones the day of reckoning without eliminating it. It creates what Joseph Schumpeter called "the hollow prosperity of the 1920s". .