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[QUOTE]Originally posted by glassman: [QB] [b]What I have been saying is that 'WE' are creating these bubbles glass. The banks helped a whole lot on that last crash which is why they are being scrutinized on their assets/liabilities by federal watchdogs to make sure they don't overreach themselves again. [/b] first off? i don't agree that "consumers" create them. saying 'WE' could mean a broader term and if so, then that is true. BUT, and this is a very important but. The bubbles are allowed to be created by the sheerers of the sheep. The whole policy of fiat money encourages it. Our revolution was fought on it, it is not a lesson we should be able to ignore. FACT; we continue to create and deflate bubbles to accomodate whatever inconvenience we happen to be experiencing at any given moment. The real estate bubble was intentiaonlly created to fund the Iraq war and to stop the recession that should have been caused by 9-11. Instead, they hit the nitrous on the economic motor and blew the supercharger thru the hood, and the crank shaft out the oil pan..... We don't "need" bubbles. The bankers and the brokers need them to pay their bonuses. Do you have any idea how much money they "skim" out of the soup each year? They have to replace that with value, and when they don't? They have to find a wya to recover that money so that nobody realises where it really went... It's not the gold standard that is so important as havind some sort of real standard that is meaningful. The system we have now is actaully a dictatorship run by the Fed reserve. A secretive organisation that most people don't even know is not the Government. If our currency was pegged to gold? China would pretty much be forced to stop manipulating their currency because of the pressure it would put on them to do so also. I beleive Americans can compete with anybody on a level playing feild. [/QB][/QUOTE]
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