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To: bart13 who wrote (96103)	10/30/2012 2:43:36 PM
From: dvdw©	1 Recommendation Respond to of 219500

Thanks, i tracked down my error to a poster Bart who uses the exact terminology and article feed stock at another energy blog as SI Eric, the comments were so a like i noted in my files that eric must be bart....and SI identities change often, but the error was one of projection...my fault. Will bookmark your site and study with an open mind...

To: bart13 who wrote (96103)	10/30/2012 3:58:07 PM
From: average joe	2 Recommendations Read Replies (1) \| Respond to of 219500

to help alleviate the boredom/ennui Ennui has made more gamblers than avarice, more drunkards than thirst, and perhaps as many suicides as despair. "The whole secret of existence is to have no fear. Never fear what will become of you, depend on no one. Only the moment you reject all help are you freed. Believe nothing, no matter where you read it, or who said it, no matter if I have said it, unless it agrees with your own reason and your own common sense. In the sky, there is no distinction of east and west; people create distinctions out of their own minds and then believe them to be true. It is better to conquer yourself than to win a thousand battles. Then the victory is yours. It cannot be taken from you, not by angels or by demons, heaven or hell. No one saves us but ourselves. No one can and no one may. To be idle is a short road to death and to be diligent is a way of life; foolish people are idle, wise people are diligent. Work out your own salvation. Do not depend on others. Siddhartha Gautama Buddha

To: bart13 who wrote (96103)	10/30/2012 7:21:01 PM
From: elmatador	Read Replies (2) \| Respond to of 219500

How is money destroyed called my attention: FED and ECB have been only avoiding money destruction. If the FED and ECB does not lend support to banks the financial economic will collapse destroying money. How is money destroyed?One simple way is via investment losses. The US stock market lost about $7 trillion in total value between 2000 and late 2002, and that $7 trillion was actually destroyed as of late 2002. Note that this assumes the general definition of money here. Another would be if the Fed, during an open market operation, sold bonds in the Federal Reserve accounts back to the US Treasury without buying at least as many as they sold. Remember that when the Fed buys bonds from the Treasury during an open market operation, that creates money out of virtually thin air. Another is losses in the banking system itself. An example is the Saving & Loan crises in the early 1990s when there were huge losses recognized by a number of Savings & Loan associations who had hugely overextended themselves - much of that money just disappeared. If the Federal Reserve had not stepped in and provided support, the LTCM crisis in 1998 would also have destroyed a lot. Another is likely going on in early 2005 in Fannie Mae, due to some "special moments" in their accounting and financial actions since the late 1990s. Warren Buffett, the second richest man in the world after Bill Gates, has warned repeatedly over the last few years about the dangers of derivatives, and a problem there could easily destroy many many billions. This is not a complete list. It is just intended as examples. (last update mid 2005)