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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (53982)	3/30/1999 5:59:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

LT: "From your lips to God's ears", as my Jewish friends would say. (g) best, Earlie

To: Lucretius who wrote (53982)	3/30/1999 6:50:00 PM
From: Kailash	Read Replies (1) \| Respond to of 132070

LT - Economic engineering seems to be where the big game is these days; politics is relatively trivial in comparison. If people on this board are right, Greenspan is singlehandedly responsible for an enormous asset bubble that may take a decade to deflate, plunging the country into depression while bad loans fester. Clinton and other politicians talk about selling gold "to help the world's poor" - no further details supplied; the real intent appears to be to talk the price of gold down so that our faith in paper money and stock certificates won't be shaken. He wages a senseless war in the Balkans purely as a distraction from his own failings - what I'm trying to say is that elected officials seem to be entirely dispensible, entertaining the populace with fighter planes, pointless impeachment hearings, sexy interns, minor scams - and the real power is with a tiny number of central bankers who, alas, once in a while judges the situation incorrectly and puts civilization as we know it at risk. <g> If this is how the world is run, we might want to make more changes than abolishing the Fed if this ends as badly as some of you think. Incidentally, what are the main arguments against a gold standard? Are there examples of economies that avoided extreme bubbles by anchoring their currencies in something of tangible value? Kailash