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[Paule]

New Economy vs New World Order

chnic: the money men are all from old money
(in fact, a previous poster was kidding about a two headed monster.. when you consider how closely they intermarry.. lol).. Rothschild, Warburg, Rockefeller, Oppenheimer, JP Morgan (chase), etc... Hey, recognize any of those names from the talking heads on CNBC and the other financial channels? You know, the same talking heads who upgraded a stock at 200, but who are now advising you to sell at 10, because the outlook is cloudy for a quarter or two?

You'll note that the 'destruction & chaos' in the market that you refer to has NOT hit the NYSE.. it never did close in bear market territory. (yet. The bankers might need to kill more business to achieve their ultimate goal).
I suspect that it's because the NYSE was not the target of Greenspan and the bankers. They already have the business (debt) of all those companies.

However, they did not have the business of the internet.
Angels, venture capital companies, incubators, and bootstrappers owned the new world economy.
The bankers wouldn't touch them because they have a myopic view of the world.
What collateral did a dot com have to offer? 'hits'? 'eyeballs'? What would they repossess if the loans went sour? Servers? Technology moves so fast that there is no value auctioning year old equipment.
Besides, the only 'servers' that the fatcat bankers knew were the ones who lit their cigars and heated their brandy in their private clubs.
They didn't realize that eyeballs were the same as window shoppers. They didn't realize that a percentage of window shoppers will eventually buy and become repeat customers.
They didn't realize that a computer screen (and now, a laptop, a pda, and a cell phone) would become personal, portable shopping malls and bank branches, and brokerage houses, and Dick Tracy-like two way communications devices.
Bankers were happy to carry bonds to build a shopping mall with brick and mortar, but they were highly suspicious of an ethermall. After all, to them ether was the stuff Holmes used to inhale.
This is all evidenced by the fact that the internet explosion took them by surprise.
Remember, a very young Alan Greenspan was one of the people who decided to save memory space in line code by using two digit numbers for the year, instead of four. Greenspan himself was concerned enough about the potential effect of y2k that he made sure there was excess cash in the system, correct? The old money bankers had no idea that e commerce, b2b, b2c, b2g, etc would take off so quickly. They thought it was so shaky it would fall apart.
They were half right. But they were also half wrong.

Suddenly, billionaires were created. Money was changing hands. Wealthy new, young entrepreneurs (with vision) were willing to bankroll newer, younger entrepeneurs who capitalized on yesterday's new inventions. New money suddenly threatened to become debt AND equity financing (that's all there is). They provided liquidity. LIQUIDITY! They used their asymmetrical information (they are the first to know if a new technology is going to make it, or fail) and began to form their cyber version of the Japanese kereitsu.
But wait.. isn't that the bankers' job?
Didn't the bankers try and fail time and again to control the currency of the nation, until they crammed the Federal Reserve down the throats of Congress?
Bumps in the road? Of course. Scams? of course. Fools gold? a bubble? Of course! But peel back the negatives that stopped the bankers from backing the internet start ups, and you'll discover the internet revolution. sans the problems, it changes everything. Permanently.
The bankers discovered it, too, but they were late to the party.
So they did the only thing they could. They choked the economy, under the guise of fighting phantom inflation. Zero growth, that'll teach 'em. Negative growth, if they have to, but the bankers will do whatever they have to do to gain control.
Pure dot coms were doomed (and a lot of them WERE only a bubble). But there was collateral damage as well. Hybrids. Those who helped brick and mortar businesses to save millons. Consumers. Biotech breakthroughs. It doesn't matter. They [the bankers] have not yet developed a monetary smart bomb that leaves the buildings standing, and just kills the enemy. They carpet bombed everything. After all.. where will we turn if everything goes to he11 in a handbasket? Why, the big bankers, of course.
But fear not.
You're right. The new economy leaders have had a taste of true freedom, and they will not quit.
It is a battle of the New Economy vs the New World Order.