In a manner of speaking, borrowed by those with spare borrowing capacity, either in the form of assets as lien, or in the form of income to service the debt, or both. As short term interest rate gets ever lower, depressed by Greenspunk, the savers are getting robbed (Maurice is right), the debtors are being allowed to live another day, but some savers can buy, with their savings and new debt, up the indebted borrowers' stuff at depressed prices, when they are depressed, as in Thailand, but not yet on NYSE.
Neat thing about unhedged gold mines is that they are in fact producing money, near money and better than money, and a good deal when the money is being sold at cost.
Chugs, Jay |
