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#10
October 8th 08, 01:25 PM
posted to rec.radio.shortwave
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(OT) Universal has a Frog 7 w/Collins filter
Billy Burpelson wrote: dxAce wrote: Should have divested last year and gone to cash or cash equivalents! Probably the best solution, but not without its faults... If you are in Money Market funds... two weeks ago one of the brokerage houses declared a 'bank holiday' on their MM fund: said no withdrawals for a week and then after that, they would give you 97 cents on the dollar. That was only the opening round. I expect we will see worse than that. If you are in CDs or any other FDIC insured vehicle, once there are a lot of bank failures, the FDIC won't have the actual cash on hand to pay what they are insuring, will then crank up the printing presses and pay us back in devalued dollars. And yes, this scenario will affect you even if you have your cash in an old sock under the mattress -- it will be devalued too. As I type this (1130 UTC), the foreign markets have taken a big dump and the 'futures' don't bode well for when our market opens in a few hours. The Financial Feces are really hitting the fan. Hang on boys and girls, we're in for a rough ride... :-( Buying Opportunity! |
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