gold, page-65896

If you go back to the years before the Federal Reserve things were a lot worse, crashes were a regular feature of the financial landscape.

The Federal Reserve in fact warned of excess before the GFC but it was conveniently ignored by many suckers who could only see profits by buying houses and shares so it's not all the Fed's fault. Dupes could see no end to it all and in fact a similar episode took place in 1987, especially in NZ.

People were spending like there was no tomorrow, new cars, houses, overseas trips, the stock market went exponential and so did many worldwide, interest rates spiked to unbelievable levels, but there was no stopping it.

Iceland went broke, and so did many towns and municipalities worldwide investing in shonky high interest rate debt.

I bailed out of the stock market in 1986 after watching the hysteria at the local stock exchange, suckers were throwing money at stocks that did absolutely nothing, and in fact that was the way it was globally, so to blame the Federal Reserve for monumental public greed is stupid.