[Bedford Forrest]

Notice how the little JBT econometricians lurking in the bowels of the Dallas Fed exhibit not even a scintilla of embarrassment at the fascist stench of their coercive, cocked revolver up your nostril, proposals. How dare you unwashed peons hold cash just because we, your annointed, godlike superiors, have taxed and regulated the economy into a deep slough of despond? Do any of these pinheads understand that when the velocity of money falls below a certain point, they can tax cash holdings until they hold ALL the cash - and THEN what, for crying out loud, a tax on zero balances? If Greenspun really floated this rubbish, he has lost his mind.

[elbucko]

Do any of these pinheads understand that when the velocity of money falls below a certain point,...

Society will become unstable. Barter will become the medium of exchange. The strong will prey on the weak and there will be violence and civil unrest toward government. The "Intellectuals" of the Fed have fashioned a handcart to financial and social perdition.

Land is good. One needs somewhere to grow food, eat it, sleep on it and make your babies on it. That's why it's called "real" estate. As for gold vs cash, I'd rather have ammunition.

[arete]

If Greenspun really floated this rubbish, he has lost his mind.

I thought that Greenspan went certifiable several years ago. The right thing to do would have been to stop micro managing the economy and let the natural business cycle take it course. But, once Greenspan let the FED become totally politicized with the help and dicates of Robert Rubin (and for Greenspan's own gain), it became too late for the simple easy plan. Now, they're in too deep and are taking us down the freaking drain with them. All so the ruling class elite can stay in power and Wall Street can get a bit wealthier.

Richard W.