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

To: benwood who wrote (95992)	8/1/2008 8:09:09 AM
From: Robin Plunder	Read Replies (1) \| Respond to of 110194

"I suspect the worst thing we ever greedily agreed to was to have the US dollar become the world's reserve currency, for then we could run up debts with impunity. Wasn't that about the same time as we dropped the gold standard? I now see our reserve status as the world giving us lots of rope, and we are hanging ourselves with it." Yes, I think so, although I would not call it greed, as it is going to hurt us a lot more than it helped us...more like short-sighted, unthinking behavior. Robin