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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (6530)	4/23/2008 8:50:40 PM
From: Giordano Bruno	Read Replies (1) \| Respond to of 71475

Vi, your nonchalance could land you a job. -g-

To: Real Man who wrote (6530)	4/24/2008 6:13:39 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 71475

the junkie is demanding his daily dose, or else... we all know what happens. He only demands more as the effect of the drug diminishes over time. Heli Ben prescribed a drug which in theory works but that comes at a high price. What would happen if the doc removed the stimulus or tried to apply a fake "ersatz" drug. There will be less eligible AAA bonds after Moody's action <GGG> That said the fed is appearently busy working on ersatz treasuries whose princ may be AAA rated but not the interest which it tries to squeeze out of the junk layer.

To: Real Man who wrote (6530)	4/25/2008 4:36:35 AM
From: Giordano Bruno	Respond to of 71475

Commercial Banks Step to Fed Window By BRIAN BLACKSTONE April 25, 2008; Page A3 U.S. commercial banks this week increased their use of the Federal Reserve's discount window while investment banks cut their use of a direct-lending program, a sign that the focus of credit strains may be shifting from brokers to depository institutions. Lending through the discount window's primary credit facility -- used by commercial banks -- as of Wednesday was $13.46 billion, up sharply from $8.83 billion the previous week, according to Thursday's report. Average daily borrowings were $10.73 billion, the highest since after the Sept. 11, 2001, terrorist attacks. Lending through the separate primary-dealer credit facility -- open to many of the largest investment banks -- totaled $18.56 billion as of Wednesday, down from $25.66 billion the previous week. On March 16, the Fed decided to lend to investment banks from the discount window, a privilege previously reserved for more tightly regulated commercial banks. It also expanded the types of eligible collateral in an effort to provide liquidity to strained markets such as mortgage-backed securities. The Fed has also expanded its Term Securities Lending Facility in which it lends out Treasurys against collateral to the primary dealers in an effort to improve liquidity in strained repurchase markets. The report Thursday showed term facility borrowings at $158.95 billion the week ended April 23, up from the previous week. The Fed's latest Term Securities Lending Facility auction for a broader range of mortgage collateral saw light demand, with just $59.46 billion bids submitted, and accepted, for the offered $75 billion. The auction saw a bid-to-cover ratio of 0.79. The stop-out rate -- the lowest accepted fee rate for which bids were accepted at the auction -- of 0.25% was exactly in line with the minimum fee rate. Write to Brian Blackstone at brian.blackstone@dowjones.com