Tweet
With America’s M3 growing at 1 to 2 trillion a year, ...
... the Fed will print their way out of every and all trouble. There is no other way. Subsequently I see an interest rate cut as early as April by as much as 50 basis points to keep the money creation continuing. We have passed the point of no return. There is going to be no Volcker (who raised interest rates to double digits to save the fiat system). ...
Since our last update, 3 mortgage related hedge funds from Bear Sterns totaling $16 billion had collapsed. American Home Mortgage Corp, the second largest non-bank mortgage lender, accounting for 2% of all newly issued mortgages had tanked 80%+ in one week as banks have refused to provide more credit to them.
The Deutsche Industriebank AG German fund involving American mortgages and financial obligations of US$11.07 billion required the government bail out. Australian Macquarie Fortress Investments, worth $873 million, was forced to sell assets to avoid breaching its loan agreements. And Europe’s biggest bank, HSBC, is to write off $11 billion to cover mounting losses in its troubled American offshoot, HSBC Finance Corporation.
The Deutsche Industriebank AG German fund involving American mortgages and financial obligations of US$11.07 billion required the government bail out. Australian Macquarie Fortress Investments, worth $873 million, was forced to sell assets to avoid breaching its loan agreements. And Europe’s biggest bank, HSBC, is to write off $11 billion to cover mounting losses in its troubled American offshoot, HSBC Finance Corporation.
Issachar