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Excellent article! Milton Friedman would be shaking his head today, with a smirk on his lips, saying: we need sound money.
You are absolutely right. The Fed is engaged in social engineering. Frankly, I don't think they are intelligent enough to do what they are trying to do. And, that is not to say they are not sufficiently intelligent. I just don't think that job is doable.
Don't forget standard business practices of disaster recovery plans and business continuity plans to keep out of the hands of politicians if there is a next time. Great article, someone with non state of fear perspective. This whole mess sounds like the culmination of a Y2K, Tobbaco Trials, Global Warming Simulacra. Why did Bush want to give control, oversight and taxes to the Congress?
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