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To: Kayaker who wrote (156749)9/9/2011 2:17:52 PM
From: ChanceIs  Read Replies (2) | Respond to of 206089
 
>>>The European banking exposure of the 10 biggest US money market funds fell to 47 per cent of their $658bn assets<<<

Jesus wept!!! (Sorry if I offended). Just 47%!?!?! I would have guessed 20% max. $658 gigabucks!?!?!

Those US money market funds could have caused a run on the Euro banks on their lonesome. Wanna bet that Bernanke and Geithner are on the phone right now sniveling, groveling and promising immunity from criminal prosecution if they leave their funds in the Euro zone until at least Monday.

Talk about an indictment of Bernanke and his cursed Zero Interest Rate Policy.

Memo to the Bernank:

I know that physics has been removed from the basic requirements of a "Liberal Arts" education, but trust me on this - Newton hasn't been disproved - every action has an equal and opposite reaction. In your case you have:

1) Driven investment dollars abroad,

2) Driven old people to eat dog food because at best they can get 0.05% on regular savings deposits vice the 5% they had planned upon and deserved.

3) Driven crude up by trashing the dollar. High crude prices are really good for controlling the price of items which we would like to export.

I mean .... like Dude ... did you even go to class at Princeton???

What's that?? You went to Harvard and taught at Princeton.

So you were classmates with Larry Summers then.



To: Kayaker who wrote (156749)9/9/2011 3:21:48 PM
From: rllee  Read Replies (2) | Respond to of 206089
 
" keep my cash as cash and put nothing in money market funds" - So are you keeping your $ bills under the pillow or what. Any suggestions?