[e-gold-list] Re: Gary North Response

[James M. Ray]

Pete Chown wrote:
....
> I don't have a problem with floating currencies, as long as governments 
> don't use legal measures against any alternatives that emerge.  There is 
> no reason not to let the market decide between state and private 
> currencies.
> 


The problems come when the government sees what the market decides.

I also think a questionable legal attack helps to mask scandals like even
more questionable and totally-unregulated things like:

http://www.nytimes.com/imagepages/2008/02/17/business/20080217_SWAP_2_GRAPHIC.html

AKA http://tinyurl.com/69dbja

from article:

http://www.nytimes.com/2008/02/17/business/17swap.html?pagewanted=1&_r=1&sq=gretchen%20morgenson&st=nyt&scp=3

AKA http://tinyurl.com/6natvy

And looky here:

http://www.bloomberg.com/apps/news?pid=20601109&sid=arZMpwlTxBdo&refer=home

AKA http://tinyurl.com/3uf3nq

The actual market thinks MBIA Inc. and Ambac Assurance Insurance are
both JUNK, even as Moodys and Standard & Poors both keep them rated
highly. Sounds like a recipe for disaster. In my amateur legal 
perspective,
I can only hope all this hits the fan in mid to late September. ;)
JMR


"The budget should be balanced, the treasury should be refilled,
public debt should be reduced, the arrogance of officialdom
should be tempered and controlled, and the assistance to foreign
lands should be curtailed lest Rome become bankrupt." Cicero,
circa 63 B.C.

Regards, James M. Ray




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