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ScroogeMcduck
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Scrooge had worked his way up the financial ladder from humble immigrant roots. Born in Glasgow, Scotland he made a living shining boots, and was enraged when a ditchdigger paid him with a US dime. However, the coin inspired him to take a position as cabin boy on a Clyde cattle ship to the... More
  • Federal funds rate 4 comments
    Aug 16, 2009 1:20 AM
    How long can the fed keep interst rates unchanged?
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  •  
    How can they not keep the fed rate low? It's all built on a house of cards, right?
    On another note, Scrooge, you asked me if I hold any financials. My answer to you was incomplete. I hold the etf's EWC and EWA from Ishares.
    Both are heavy in financials, but they are Canadian and Australian, not U.S. Banks.
    14 Oct 2009, 09:29 AM Reply Like
  •  
    They must keep the fed rat low in order to "entice" everyone into the market. Right now they are using every savers money for free. When the rates go up there will be a cost to use that money. Right now the cost is only to those sitting on cash and the fear of inflation is the club beating them into the market.

    Stand with gold!! Less market risk but safe from inflation.

    As OG said it is a house of cards. They can not let even one card slip.

    Until we get jobs this fed rate is the way the cards have to be played or its all coming down.

    Redistribution is in full force, I expect it to get worse. Savers are having their money redistributed and don't even realize it since it is a very well hidden redistribution tax.
    14 Oct 2009, 09:59 AM Reply Like
  •  
    I agree with the both of you until we start to see the jobless rate decline, I don't think we'll see the rate change. I'll be in commodities till then.
    Thank you for the comments both of your take on this is much appreciated.
    14 Oct 2009, 10:30 AM Reply Like
  •  
    Duck: The cheap money window will remain open for the time being. Geitner, Bernanke and their Wall Street thieves are destroying America's balance sheet. If you have a moment, go into John Loundsbury's Instas. Last night he posted a link to an article that made me feel a little guilty for owning some WFC and JPM.

    Basically, the financials are destroying any chance to create jobs. They've gone from "middlemen" who finance growth, to becoming the growth Grim Reapers themselves.
    14 Oct 2009, 10:46 AM Reply Like
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