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Re: History: Prime Rate peaked at 21.5% in 1980. 

By: Beldin in POPE IV | Recommend this post (1)
Sat, 25 Feb 17 5:31 AM | 49 view(s)
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Msg. 21486 of 47202
(This msg. is a reply to 21484 by monkeytrots)

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Yeah, I had a CD back then that was earning somewhere between 22% and 24%. Damn ... sure would of been nice if that could have had a 50-year term on it, eh? If so, I would have retired a long time ago, now.




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The above is a reply to the following message:
History: Prime Rate peaked at 21.5% in 1980.
By: monkeytrots
in POPE IV
Sat, 25 Feb 17 5:02 AM
Msg. 21484 of 47202

Source: Mark Levin show today. Good review of REAL conservatism - Ronald Reagan conservatism - not the mealy-mouthed crap from so many so-call conservatives today.

Audio Rewind available for your listening convenience: http://www.marklevinshow.com/

>> excerpt >>
ANTI-INFLATIONARY CONTROL - CONTROL THE MONEY SUPPLY.
>> end-excerpt >>

Not the UN-Constitutional methods of Richard Hussein Millhouse Nixon - controlling 'wages and prices' - AFTER RMN removed the 'gold standard' - which led DIRECTLY to the high money supply (ie.Fed Printing Money) during Nixon's term(s) and that of Carter.

The end result was THE REASON REAGAN WAS ELECTED - inflation above 20% and interest rates above 20%.

The past eight years of 150% increase in money supply (10 trillion nat-debt-start + 10 trillion more of 'deficit' spending + 5 trillion of 'quantitative easing' - or more correctly printing wheelbarrows-full of money == 15.0 trillion of NEW MONEY - more than double the previous.)

And that folks is the REAL cause of 'wages and prices' that will spiral astronomically in the next few years.

Look at the 'stock market' today - it's growth from 10,000 to over 20,000 in the last eight years DIRECTLY reflects the REAL INFLATION that has ALREADY happened.

It sure as hell hasn't been due to real growth in productivity nor efficiency nor REAL value.


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