On Oct 2, 2008, at 10:02 AM, [EMAIL PROTECTED] wrote:
just to note that, by definition, the interbank market is not a
source of funds for the banking system as a whole; that would be the
financials CP market, where spreads are even higher.
Interbank lending rates have been very high, but again, it's not
so much
about price but availability. The interbank market has essentially
frozen. If
you're going to debunk the MSM, you should hold yourself to higher
standards.
Doug
As far as I know, the Fed's discount window is still wide open.
The banks can borrow as much--short term--as they want.
So why the hysteria about the financial system "freezing up"?
If banks don't lend to homeowners or consumers, that's not the cause
of a depression.
It's the result.
The "fundamentals" are rotten.
Solution (as always): Inflate, Inflate, and Inflate some more.
Shane Mage
"Thunderbolt steers all things...it consents and does not consent to
be called Zeus."
Herakleitos of Ephesos
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