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To: ~digs who wrote (37674)	5/22/2008 7:00:36 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 48461

The rate cuts are not trickling down to those that need it anyway, so FED moves, at this point in time, are just about meaningless. As we have talked about before, the FED will protect the banking system before anything else. In the meantime, the economy is going south, as is our standard of living.

To: ~digs who wrote (37674)	5/26/2008 10:49:10 AM
From: Bucky Katt	Read Replies (2) \| Respond to of 48461

Black Gold and Greenbacks. Blame It on the Fed? I say yep> BEFORE ANYONE GETS MORE HOT AND BOTHERED ABOUT THE RAPID and seemingly ineluctable ascent of the price of oil, or Congress gets a notion to punish somebody for it, consider this: By one measure, the price of a barrel of petroleum today should be lower than it was in 1959. Not only that, a recent analysis of oil prices over the past 50 years, adjusted for the increase in the money supply as measured by a gauge known as M3, lays the blame for surging petro prices squarely at the feet of Uncle Sam, particularly the Federal Reserve. "By rapidly increasing the money supply and thereby decreasing the value of the dollar, the government is solely responsible for the increase in the oil price," writes Paul van Eeden, president of Toronto-based Cranberry Capital, a private investment company and publisher of a weekly commentary at www.paulvaneeden.com3. Though van Eeden says that the doubling of oil in real terms since 2003 mostly reflects market factors, he ascribes oil's dizzying longer-term advance almost completely to the falling dollar and the increase in the money supply engineered by the Fed, to stimulate the economy. Van Eeden compares the current dollar/euro exchange rate to what it would have been in January 1970, against a basket of the 12 currencies comprising the euro before its launch. His conclusion? Absent the greenback's long-term debasement, oil would probably be less than $10 a barrel, taking it back to long-ago levels. Something to ponder next time you're filling up with $4.10 a gallon regular. online.barrons.com