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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Elroy Jetson who wrote (22564)2/3/2005 12:13:26 AM
From: J_Locke  Read Replies (1) of 116555
 
Rates at the big banks are a joke. They're borrowing at a 60-100 bp discount to Treasuries. They might as well hang a sign on the door that says "We Don't Need Your Stinkin' Money!" Instead of raising the fed funds rate the fed should raise the bank reserve rates back to the 1990 levels - 12% for overnight and 3% for time deposits. The rates are currently 10 and 0 (which is actually higher than they are in "sound money" Europe.)
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