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To: GST who wrote (27616)	5/2/2012 9:39:05 AM
From: Metacomet	1 Recommendation Read Replies (1) \| Respond to of 29622

So you are saying this guy is clueless? Goodman also warns that U.S. economy and markets are “at risk for a sharp correction” if conditions aren’t “normalized.” If he isn't, I'll say it This guy is clueless What does this fool think is the status of the economy and the markets without that government support? We are recovering from a depression, not a recession There are no other liquidity sources Newsmax is a joke

To: GST who wrote (27616)	5/2/2012 9:59:18 AM
From: Tommaso	Respond to of 29622

Before I got up this morning I was thinking that maybe the closest parallel to the fiscal situation in the U. S. (and most of the rest of the world) would be China --maybe 800 years ago. Am going to research to see if there are any trustworthy accounts of the failed paper-money era then. Well here's one, but right in the first paragraph is a mistake. The word "cash" does not come from Chinese. financialsensearchive.com Maybe better: dailyreckoning.com

To: GST who wrote (27616)	5/2/2012 10:09:40 AM
From: Nevada9999	Respond to of 29622

No, I think he is saying he is clueless.

To: GST who wrote (27616)	5/2/2012 11:00:55 AM
From: ecrire	Read Replies (1) \| Respond to of 29622

The referenced article refers to Fed actions LAST YEAR. I don't know about the "61%", that sounds high, probably just throwing numbers around. Since then, the Fed has not increased its balance sheet. Also, since then, Treasury auctions, without Fed participation,have gone well, both domestic and foreign. The theme of the inevitable crash to come eventually is widely accepted by doomsayers but there are better potential alternatives, such as an improving, job producing economy, which would then justify the Fed's accomodative policies.

To: GST who wrote (27616)	5/2/2012 11:05:24 AM
From: Tommaso	Respond to of 29622

I am beginning to despair of getting really trustworthy information about Chinese paper money of 800-1,000 years ago. People keep quoting Marco Polo on the subject, but never specify the exact source. I downloaded Polo's "Travels" in a Kindle edition and though there are many references to paper money, there is nothing resembling the statements scattered all over the Internet and attributed to him. Would love to be corrected about this. There does seem to be a consensus that overissue of paper money in China did cause repeated bouts of inflation and destruction of the currency. Our own experiment of pure fiat money is as we all know just over 40 years old. The rise of the price of gold over sixfold in about a decade does say something about the dollar. Too many lies being told on all sides of the issue.

To: GST who wrote (27616)	5/3/2012 4:04:28 PM
From: Tommaso	Read Replies (1) \| Respond to of 29622

Does this sound like any other economist you are familiar with? Thus, the population of the United States has increased during the past century at the rate of about three per cent., or thirty per mille per annum compounded. The money of the United States, though not without frequent and injurious, if not dangerous, fluctuations, appears to have augmented at the rate of about thirty- three per mille per annum. Another determinable quantity to which the actual in- crease of money appears to have conformed is the net rate of interest for money. This quantity is not so readily nor easily determinable as the increase of population ; neverthe- less it is determinable. The net rate of interest means the average actual or market rate of interest, less risk, taxes, and the cost of the superintendence of loans. This rate in the United States has been and is still about thirty-three per mille per annum. Without as yet assuming that these indications offer a practical solution to so difficult a problem, let it be sup- posed that the money of the United States, instead of being left, as it has been, to alternately expand or contract with the commercial movements of bullion, the paper emissions of banksand treasuries, the exigencies of governments, and the contentions of party, had been regulated to augment at the rate of thirty-three per mille per annum then these results would have followed : 1. The country would have had, all along, substantially the same amount of money that it has had ; only, instead of alternately increasing and diminishing, in some years to more than half the extent of its previous volume, it would have augmented steadily at the rate of 3^ per cent, per annum. 2. The reckless inflations,, speculations, and dishonest transactions of 1814, 1819, 1829, 1837, 1857, and 1864 would not have occurred. 3. The contractions and stringencies that followed these eras would not have been occasioned. 4. Nor would it have been necessary to legalise the dis- graceful repudiations, nor to pass the stay-laws and bank- ruptcy Acts which were enacted to relieve the distresses occasioned by these contractions, and into which innocent and honourable men were drawn, together with the design- ing and dishonourable.