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To: reaper who wrote (211645)	12/28/2002 11:43:21 AM
From: mishedlo	Read Replies (1) \| Respond to of 436258

Interest Rate Swaps detnews.com

To: reaper who wrote (211645)	12/28/2002 11:47:47 AM
From: mishedlo	Respond to of 436258

Fees come rolling in www2.ocregister.com

To: reaper who wrote (211645)	12/28/2002 11:51:01 AM
From: mishedlo	Read Replies (1) \| Respond to of 436258

FED to Raise interest rates in June? Yeah Right. seattlepi.nwsource.com

To: reaper who wrote (211645)	12/28/2002 11:54:31 AM
From: Les H	Read Replies (1) \| Respond to of 436258

added charges seattlepi.nwsource.com

To: reaper who wrote (211645)	12/28/2002 4:53:27 PM
From: NOW	Respond to of 436258

"Finally, the Fed's threat to devalue the dollar might not be an empty one, but its threat to peg long-term interest rates at artificially-low levels is (in recent speeches both Fed Governor Bernanke and Fed Chairman Greenspan have mentioned the possibility of the Fed buying whatever amount of long-term debt it needed to buy to keep long-term interest rates at some pre-determined low level). If the US$ was being devalued and the Fed had committed to keep the yields on 10-year bonds from rising above, say, 2%, who else besides the Fed would be a buyer of bonds? Anyone who bought bonds under such circumstances would be accepting a guaranteed loss, in real terms. If the Fed decided to peg long-term interest rates well below levels that would otherwise be set by the market then there would be a mass exodus from the US credit markets and a collapse in the US dollar's exchange rate. Unless, of course, all the other major central banks were implementing a similar strategy in which case there would be panic buying of gold and other hard assets." Steve Saville