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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: el_gaviero who wrote (26022)	2/8/2005 11:19:01 AM
From: jackjc	Respond to of 110194

eggzackly right. But it apparently fools an auful lot of people. When they hear the words 'trust funds' they get warm fuzzies all over.

To: el_gaviero who wrote (26022)	2/8/2005 1:37:56 PM
From: Larry S.	Respond to of 110194

el_gaviero, I will agree with you to this extent: One of us is suffering a "money illusion". You believe the special treasuries are not backed by the full faith and credit of the Treasury. I do because that is what the law says. Bill Gross's name has been brought up in these discussions. Send him an email and ask his opinion. Or, send an email to Gene Epstein of Barron's who refers to them as IOUs. You will find that they agree that they are backed by the full faith and credit of the Treasury. Yes, the law can be changed but I don't believe this one is close to being changed. And, yes, I believe that the Administration would like to find a way around it but I don't believe it is in the cards, not yet. Larry