> The reason why the market is viewable from the perspective of a perpetual motion machine is due to excessive federal moneyprinting shaking things up. If not f

> The reason why the market is viewable from the perspective of a perpetual motion machine is due to excessive federal moneyprinting shaking things up. If not for it, if dollars were backed 1:1 by hard assets like gold, I think it'd be a lot calmer. The Panic of 1873, the Panic of 1893, and the Panic of 1907 would like a word. We tried dollars directly convertible to gold. The result was not calm markets.