The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Patricia Trinchero who wrote (180999)	2/1/2009 1:25:25 AM
From: MulhollandDrive	Read Replies (1) of 306849

i've been reading the rumors about the bank holiday (and i'm not taking chances, i've taken a fair amount of cash out of my accounts)....mostly in europe...listening to jankorski talk about the amount of billions that were being pulled out the MM funds was sobering indeed....and when you hear just how close to the precipice we came to with TRILLIONS being taken out by an electronic bank run...the question you have to ask yourself is WHY....what is the true underlying reason for the bank panic....and i wasn't at all encouraged by his statement about 'being tossed into the atlantic without a liferaft' (or words to that effect) as though government was just a passive victim in all of this....after listening to him, i'm convinced washington has no idea how to restore our financial system, and most importantly confidence... half a trillion being pulled out of MM accounts within hours...something is seriously wrong, they came within a hair's breadth of shutting the system down.... i'm keeping a close eye on europe.....i read somewhere, (maybe barrons) , that the huge 500B or so credit swap that the FED did with the EU several months ago (because they needed dollars to settle dollar denominated transactions) basically went into a sink hole and won't be coming back unless the EU nations sell debt or the ECU prints....good luck with that

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