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ROCKET SCHOOL OF ECONOMICS
by Professor von Braun
December 7th, 1999
One day, early in January of
the year 2000, a date not all that far away, a certain chairman
of a banking institution is going to wake up one morning and the
realization that he is not in control of what he is supposed to
be in control of, the US banking system, is going to hit him right
between the eyes. What he does next will be interesting.
What the markets do next will
also be interesting. Will they continue to skyrocket toward the
planet mars, or will they burn up as they get to close to the
atmosphere of the red planet? Everything else seems to if NASA's
activities are anything to go by.
The question for most sane investors,
(the ones that are amazed by the activitie's of Federal Reserve
and of the US stock market's), as we enter this apparently "new"
millennium, will be "where do I look for value?" A reasonable
question and one that is not easy to answer.
Certainly commodities look interesting,
and perhaps we have been witnessing the final fling for paper
assets for years to come. What a party it has been. "Bubble
on" should be remembered as the catch phrase of the late
nineties. The "whose to blame" for what caused this
to happen game will begin and much ducking and diving will take
Will the lesson learned be that
you should not put the fox in charge of the chickens? Certainly
having an investment banker run the treasury is an example of
this. Even though he left, I would be surprised if there weren't
too many chickens left that he did not have access to.
Believing one is invincible
is usually a sure sign that you are about to trip up and there
certainly are people around who fit that category.
The Prof can be contacted by email
Copyright by Professor von Braun.
All Rights Reserved. Reprinted at USAGOLD