"I want to remind you basically, if you ask me this is all part of a continuing. Yes, the stock market went up. You know, the american stock market is around 10,000 right now, the Dow Jones Average. It can go to 30,000 if they continue to print money. You think you made money because the Dow Jones tripled. But it has tripled in worthless paper. So we are not going to be better off and that is part of what is happening now. The stock market has gone up but the value of the money is deteriorating.
Look at what has happened to the price of gold, or silver or some other commodities. They have been very strong because people know that the paper money is becoming less valuable. You may think that if the stock market goes to 20,000 you are better off, but you are not.
The stock market is up a lot, around 50%. But unemployment is up, bankrupcies continue to increase in the US. So people are not better off. The stock market is better, stockbrokers are better because they have all the money. And that is not a good system. That is socialism for the rich."
in Praag Meeting
