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To: Abner Hosmer who wrote (8259)	3/12/1998 7:32:00 PM
From: Eldon Slife	Read Replies (2) \| Respond to of 116768

To All I would like to get my hands on a really good book which explains the concept of fractional banking, how the feds create money out of thin air, etc. I have read all these threads concerning these issues but really don't understand them. Could anyone help? Eldon Slife

To: Abner Hosmer who wrote (8259)	3/12/1998 8:48:00 PM
From: Tom Byron	Read Replies (3) \| Respond to of 116768

Tom: The only thing I noted on the money supply numbers is that if one goes back 3-4 months, the inceases over that period of time seems impressive. But, I just no longer know what these number mean to the market anymore. Notice last weeks 3 negative reports from Intel, Motorola and Compaq and the market indexes did not blink. A poster on another site has done a study of past manias and blow-offs and what happened in the past is that during a parabolic blow-off, negative earnings meant nothing. Maybe that is what is going on in the markets these days.