Homestead mailing list

[Leslie <cayadopi AT yahoo.com>]

A few points from yet another endless stream of articles.  The first section 
is obviously about the Big 3.

"While it is likely that the Treasury will extend emergency credit to the 
companies until January 20 or until the newly elected Congress can consider a 
new plan, THE PROSPECT OF A CHAINREACTION BANKRUPTCY COLLAPSE of the three 
giant companies is very near. What is being left out of the debate is that 
THOSE THREE COMPANIES ACCOUNT FOR 25% OF ALL US CORPORATE BONDS outstanding. 
They are held by private pension funds, mutual funds, banks and others. If 
the auto parts suppliers of the Big Three are included, AN ESTIMATED $1 
TRILLION OF CORPORATE BONDS ARE NOW AT RISK OF A CHAIN-REACTION DEFAULT. Such 
a bankruptcy failure could trigger a financial catastrophe which would make 
what has happened since Lehman Bros. appear as a mere hiccup in a hurricane." 
 12/15/2008 ~F. William Engdahl.
(emphasis added)


(My first thought on reading this:  It may be a cautious move to stash some 
cash under the mattress in the event of an unexpected "bank holiday".  Even 
if you don't own bonds there could be repercussions to us.)


He goes on to make comments:

The YOY money expansion rate is 38%, but most of that was in the last 3 
months.  If we start from just the last 3 months (76%), the annualized rate 
would be 300% - clearly in the hyperinflation range of monetary expansion 
levels.  

And, we're in a depression free-fall, but when the banks stop hoarding that 
money, the hyperinflation is unleashed as all this printing money hits the 
system.

Banks have been hoarding that money instead of lending.  When they start 
using all that money to lend, look out, hyperinflation.

Also, since September apparently they Fed hasn't been able to sterilize/offet 
the effects of their money printing.

-----------------

I wonder if debit and credit cards will still work if there is an unexpected 
bank holiday... so few people use cash (except in this area, it 
seems......... where most people seem to use cash... LOL)

The way I see it, this is only important for those who aren't self-sufficient 
or at least well stocked in food and other supplies.

Leslie

http://www.financialsense.com/editorials/engdahl/2008/1215.html




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_Mexico Joins Canada In WTO  Beef Complaint Vs. US_
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(http://www.cattlenetwork.com/roto_mix_Content.asp?ContentID'7388)

I have filed this in the "Excuse Me?" folder.
Sandy
Mid-Mojave
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