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New Perhaps Norm is all right? ;)
Read it from the Fed:

[link|http://www.federalreserve.gov/boarddocs/speeches/2004/200403022/default.htm|http://www.federalre...03022/default.htm]

"Other countries' policies also contributed to a global monetary tightening during 1928 and 1929. For example, after France returned to the gold standard in 1928, it built up its gold reserves significantly, at the expense of other countries. The outflows of gold to France forced other countries to reduce their money supplies and to raise interest rates. Speculative attacks on currencies also became frequent as the Depression worsened, leading central banks to raise interest rates, much like the Federal Reserve did in 1931."

So France, at that time, had a habit of turning gold treasury notes into gold. France had money in the Federal bank, and guess what they did? It is debateable if this caused a panic or at least was a factor in causing a panic.



"What's the use of saving life when you see what you do with it?" - Corbin Dallas "The Fifth Element"




[link|http://www.xormad.com:4096/district268|I am from District 268].
New Thank you, I learned something from that
So France apparently did play a role in creating the monetary crisis that lead to the Great Depression. Live and learn.

However two major things do not fit the parallel that you're trying to draw betweeen France then and the Saudis now.

First of all, France had no idea that it was going to cause the effect that it would cause. Unlike the leadership of Saudi Arabia who presumably do understand what destroying the US economy would do to them. Unless you know that pulling the trigger will result in personal injury, the real threat of holding a gun to your head is not a deterrent from pulling the trigger.

Of course that is key for your thesis - if France knowingly acted against its own economic self-interests then it would destroy your thesis that people can be relied on not to knowingly do that. They acted, but they didn't know so it isn't a counter-example.

More importantly, France's actions came from motivations that bear no useful parallel to the motivations of current Saudi leaders. But this is a point which you refuse to acknowledge, and therefore cannot be the basis of useful conversation.

Cheers,
Ben
To deny the indirect purchaser, who in this case is the ultimate purchaser, the right to seek relief from unlawful conduct, would essentially remove the word consumer from the Consumer Protection Act
- [link|http://www.techworld.com/opsys/news/index.cfm?NewsID=1246&Page=1&pagePos=20|Nebraska Supreme Court]
     a review of 911 by Matt Labash - (boxley) - (105)
         I shocked, shocked I tell you. - (mmoffitt)
         At least Moore's honest about his craft - (ChrisR) - (6)
             Moore? Honest? He had disclaimers? tell me moore -NT - (boxley) - (5)
                 He admits his craft has a purpose - (ChrisR) - (4)
                     It's a polemic - (deSitter)
                     Conservative AM talk radio station this morning - (lincoln) - (2)
                         As Ebert pointed out.. - (deSitter)
                         National Geographic has a POV - (ChrisR)
         Screw that. Where's *your* review? - (Silverlock) - (24)
             I will do my own review - (boxley) - (20)
                 What's your local theater? - (Silverlock) - (19)
                     problem, how do I explain to 5 other people - (boxley) - (18)
                         I'll donate another ticket for you... -NT - (ben_tilly) - (3)
                             guys, ITS A FRIGGIN MOVIE!!! not the second coming sheesh! -NT - (boxley) - (2)
                                 Just trying to reduce the number of your excuses -NT - (ben_tilly) - (1)
                                     no excuses, I will watch it in the same way I watch all - (boxley)
                         Whatever. - (Silverlock)
                         I'll donate another ticket for you... That's 3. - (Ashton) - (12)
                             One from me, that's 4 - (broomberg) - (10)
                                 ROAD TRIP!!! -NT - (Another Scott) - (1)
                                     Thou sayest Well, - (Ashton)
                                 That works for me... - (ben_tilly) - (7)
                                     Seconded - (drewk) - (6)
                                         plastic pint bottles and cargo pants would work -NT - (boxley)
                                         Re: Seconded - (deSitter) - (1)
                                             Spent a whole night playing piano drunk once. - (admin)
                                         Sheesh. - (admin) - (2)
                                             A Fair question - (Ashton) - (1)
                                                 See the headlines now - (boxley)
                             wont be voting there, patriot and ashcroft still in place -NT - (boxley)
             Well, here's one - (inthane-chan) - (2)
                 you didnt use a debit card to pay for the tickey did you? -NT - (boxley) - (1)
                     What, you think I'm an idiot? - (inthane-chan)
         Tip from a Friend on what to do after seeing it. - (mmoffitt) - (3)
             Citoyens! Aux barricades! -NT - (deSitter)
             Re: Tip from a Friend on what to do after seeing it. - (deSitter)
             That is good -NT - (boxley)
         another review of Fahrenheit 9/11 - (Ashton) - (1)
             Made approx. 22 million this weekend as top-grossing movie - (tjsinclair)
         ..and another Weekly Standard-type 'exclusive' (new thread) - (Ashton)
         I agree with the concepts, but not the methods used by Moore - (orion) - (64)
             Norman, Norman - (Ashton) - (63)
                 Thus I say to you - (orion) - (62)
                     Oh, I do so wish to smack you, Norm - (Arkadiy) - (17)
                         Did you ever see Good Will Hunting? - (broomberg) - (16)
                             Re: Did you ever see Good Will Hunting? - (deSitter)
                             Not really - (orion) - (14)
                                 It is a matter of tunnel vision - (broomberg) - (13)
                                     Ironically, I disagree with you... - (ben_tilly) - (5)
                                         Figures - (broomberg) - (3)
                                             Depends how you define economics - (ben_tilly) - (2)
                                                 The economic/philosophy term of "Utility" comes to mind. - (ChrisR) - (1)
                                                     Exactly - (ben_tilly)
                                         Sadly, I find your disagreement implicitly supports - (Ashton)
                                     All I ever asked - (orion) - (3)
                                         Hehe. Impeach Bush? - (broomberg)
                                         Logic is the path from assumptions to conclusion - (ben_tilly) - (1)
                                             Verily I say, thou hast the Patience of Job.. or was that - (Ashton)
                                     I consider that a cmplement in a way - (orion) - (2)
                                         Enjoy - (broomberg)
                                         BTW - (n3jja)
                     That analysis assumes that Saudis are... - (ben_tilly) - (43)
                         Very well said -NT - (deSitter)
                         Nothing economics can't explain - (ChrisR) - (13)
                             For some value of "explain" -NT - (ben_tilly) - (2)
                                 Not to belittle economics too much... - (ChrisR) - (1)
                                     ie.. it Is hard to belittle Econ____too much :-j -NT - (Ashton)
                             Yet ironically - (orion) - (9)
                                 Twitterpatted - (ChrisR) - (6)
                                     ObPedanticSpellingFlame: twitterpated, twitterpate! -NT - (jake123) - (1)
                                         Rediculous!!! -NT - (ChrisR)
                                     Easy - (deSitter) - (2)
                                         Either that, or make the leaf the new form of currency - (ChrisR) - (1)
                                             No - (deSitter)
                                     Bzzzz, sorry. You don't know jack about the Phillips curve. (new thread) - (orion)
                                 Norm throw all that crap out the window - (boxley) - (1)
                                     Sorry I'd rather earn a college degree - (orion)
                         Explain this behavior then - (orion) - (27)
                             The explanation is simple... - (ChrisR) - (5)
                                 Interesting theory - (orion) - (4)
                                     I see college has brought out your natural sophistry - (deSitter) - (1)
                                         Of course - (orion)
                                     Just look up the term you don't know - (ben_tilly)
                                     Big fish catch and release program. - (ChrisR)
                             you are missing a huge point - (boxley) - (18)
                                 The same way we trapped the French in the 1930's then? - (orion) - (17)
                                     where do you get this crap norm? - (boxley) - (16)
                                         Norm is at least half-right on this one - (ben_tilly) - (15)
                                             Been some stress through the years - (ChrisR) - (1)
                                                 True, but that doesn't make me much happier - (ben_tilly)
                                             banking panic had NOTHING to do with gold - (boxley) - (10)
                                                 You'd be wrong on the history of that - (ben_tilly) - (9)
                                                     try horses mouth - (boxley) - (8)
                                                         And how does this contradict what I said? - (ben_tilly) - (1)
                                                             thought you were promoting gold as a cause, not effect - (boxley)
                                                         Yet again you are wrong - (orion) - (5)
                                                             ah, the educated fucktard raises his snout and brays - (boxley) - (1)
                                                                 Apples and Oranges - (orion)
                                                             Yeah, and who pays for it? - (inthane-chan) - (2)
                                                                 {{Shhhh!}} we're not sposed to know that. Bad for 'lections -NT - (Ashton)
                                                                 I know that - (orion)
                                             Perhaps Norm is all right? ;) - (orion) - (1)
                                                 Thank you, I learned something from that - (ben_tilly)
                             Blah - gotta hit STOP faster. - (Ashton)
                             Norman, Norman -n (new thread) - (Ashton)

What... is the airspeed of an unladen swallow?
333 ms