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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: patron_anejo_por_favor who wrote (88825)3/19/2001 11:57:43 AM
From: Hawkmoon  Read Replies (1) of 95453
 
Admittedly, it's never happened since MMF's started in the U.S. around 1980...but then these are interesting times.

Let's all hope that it never becomes that "interesting".. :0)

Btw, how would refinancing activity increase money supply? If I have a 8% mortgage and I refinance it down to 6%, thus paying off that 8% note, wouldn't the supply of money remain constant, with the only result being that I now have reduced monthly payments and put more discretionary income in my pocket as a result of paying lower rates?

I appreciate the heads up about MMFs... It's one more variable that I'll keep an eye on. But I think we'd likely see higer rates being paid out if there were issues of default in any MMFs, as a reward to depositors for continuing to participate.

Regards,

Ron
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