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  • From: Lynn Wigglesworth <lynnw1366 AT hotmail.com>
  • To: <homestead AT lists.ibiblio.org>
  • Subject: Re: [Homestead] Rats jumping ship
  • Date: Wed, 24 Sep 2008 18:49:36 -0400


"Hedgefund", "leverage"...it means nothing to me. I'm investment
illiterate. My investments have to be something I can see and
touch...like a cow, or a fence to keep her in. No one has told me yet
how, exactly, a crash would impact me. Bernanke said that if they don't
do the bailout, unemployment will be higher, credit will be tighter and
fewer people will be able to buy a house or a new car. Boo Hoo. My area
of the country is already like that, and people deal with it. A big
house and new car are NOT necessities of life; tighter credit, forcing
people to live within their means, is the BEST thing that could happen
to this country.

Lynn Wigglesworth

bob ford wrote:
> Lynn, philisophically, I might agree. But, I don't think you are really
> considering the consequences. Without giving our credit markets stability,
> the following can occur.
>
> This is a blurb from a brilliant very successful person, whose opinion is
> held in high esteem by a quite a number of people. I'm not saying that
> this will occur, as he is not, just that it is a possible scenario........
>
> The Fed is in a box of their own making.The greatest danger to the system
> are not the banks at the moment but the hedgefunds.Their structure is
> leverage and will not get the preferential treatment from the Fed as the
> banks do.As long as the Fed takes in the toxic loans from the banks at its
> face value ,things will work out as long as the foreign Central banks accept
> the dollar by buying treasury paper.
>
> If there are no takers the dollar will sink
> to new alltime depths,this will make the commodities double and triple
> priced in dollars.However the hedge funds are stuck in illiquid investments
> and will
> blow up if the commodities start to advance in a big way as you saw the
> price of oil on the spot market take a huge jump of 25%.If more commodities
> are going into the same direction because the dollar is sinking ,the next
> one to watch is the Yen.This carrytrade has the making of a Tsunami when
> this one is starting to unwind.
>
> Gold will rise like a rocket and there will be no Central bank stepping in
> to sell their hoard in order to stabilise the price.
> Following that scenario ,you will see a run on the banks after the ATM
> machines shut down.We will see a bank holiday with the ensueing chaos.
> My recipe is to have at least three month cash on hand and the rest
> to have in gold coins.Stockmarkets will be shut as well and martial law
> will be instituted. My take is,be prepared , cities will be death traps
>
>
> back to me: While you might be isolated, do you not have family or friends
> that are dependent on constant trade to provide them the necessitites of
> life. I can joke about sitting in my lawn chair with a Kalashnikov rifle,
> but that would be devestating for me and millions of others. I also have
> parents, brothers, and a few friends, who are even more dependent on the
> system than I am. If we all moved, today, to "the country" , then, "the
> country" would cease to exist. Some of us must live , at least part of our
> lives, in congested, densely populated cities. Some of us might be nice
> people who don't want to see the primitive sides of our fellow humans so
> exposed. ....bobf
>
>
>
>
>
> ----- Original Message ----
> From: Lynn Wigglesworth
> To: homestead AT lists.ibiblio.org
> Sent: Wednesday, September 24, 2008 2:46:52 PM
> Subject: Re: [Homestead] Rats jumping ship
>
>
> Mine is not a popular opinion (I don't think) but I think the government
> needs to step back and let the chips fall where they may (I heard 2
> Congress people say that today!). People who participate in risky
> behavior need to take the consequences; our whole economy is a house of
> cards with little real value behind it. It needs to come down; if I had
> money in the system, I'd get it out, too. Come the revolution. I'm
> looking forward to it.
>
> Lynn Wigglesworth
> Tioga County, PA
>
>
> bob ford wrote:
>> You've probably heard the old saying about "rats jumping off a sinking
>> ship", the smart set generally advise ; "follow the rats"
>>
>> This is unsettling:
>>
>>
>> Money-market mutual funds see record withdrawals in week
>>
>> http://www.marketwatch.com/news/story/money-market-mutual-funds-see-record/story.aspx?guid=%7B0CAD8A20%2D0080%2D4847%2DAEC9%2D6C0C6C62B997%7D
>>
>>
>>
>>
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>>
>>
>>
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>
>
>
> _________________________________________________________________
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> _______________________________________________
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>
>
> ------------------------------------------------------------------------
>
>
> No virus found in this incoming message.
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> 6:29 AM
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