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<br />-8- <br /> <br />"QUITE HONESTLY, IW FEELING IS THAT ALL OF THE <br />TECHNICAL GOBBLY GOCK IN WHICH ALL OF THESE SO-CALLED <br />EXPERTS INDULGE THH1SELVES IS NOTHING ['lORE THAN ONE <br />GIANT Sr10KE SCREEN \~ITH \VHICH THEY ARE SEEKING TO <br />OBSCURE THE FACT THAT THE PRESENT ADf1INISTRATION HAS <br />DECIDED TO STOP FEDERAL WATER RESOURCES DEVELOPi.1ENT. <br /> <br />"AS I TOUJ THE WRC ORALLY, THE POHER BENEFITS <br />FROM PROJECTS LIKE BONNEVILLE AND GRANDE COULEE DAMS <br />(2% DISCOUNT RATE USED) ARE NOW SUPPLYING ELECTRICITY <br />AT ABOUT 1/7TH OF WHAT IT WOUUJ COST TO SUPPLY THE <br />SAr-1E M10Ufn OF ELECTRICITY FROI'1 STEA~' ELECTRIC STATIONS <br />BUILT TODAY, THIS IS WHAT I CALL A 'NEGATIVE DISCOUNT' <br />CONCEPT; A THEORY WHICH SAYS THAT IN MANY CASES, THE <br />PARTICULAR BENEFIT WHEN DELIVERED IN THE FUTURE WILL <br />BE HORTH FAR HORE THAN ITS REPLACH1ENT COST, TH IS <br />PHENOMENA IS CAUSED BY THE CONTINUING DEPRECIATION <br />OF OUR CURRENCY, A FACTOR WHICH IS TOTALLY IGNORED <br />BY ALL OF THE 'EXPERTS' WHO ARE FIGURING OUT THESE <br />RELATIVELY SIMPLE BUT PURPOSELY COMPLICATED MATTERS." <br />