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As you know, my expectations were low to begin with. I did not expect the EU summit on the debt crisis to provide a solution. There is no solution. The situation is beyond repair and the crisis will continue to unravel. What struck me most when reading the first responses to the EU summit was [...]
Continue Reading →One of the major lessons of the financial crisis thus far should be that every bond constitutes credit risk – even those issued by sovereign states and banks. Conceptually, that should be obvious, but the investment management industry has long treated government bonds as “safe assets”, at least those that are issued in the government’s [...]
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Roger { Feeding a little conspiracy theory ... considering a four-year schedule, put aside the gold standard... } – Sep 27, 3:20 PM
Detlev Schlichter { Federico, apologies for the slow response. You make a very good point. Banking systems in... } – Sep 27, 3:15 PM
o2flyisfun@gmail.com { Mr Schlichter, excellent article. I agree with previous comments to a great degree as well.... } – Sep 27, 9:16 AM
George { Richard Fisher, President of the Dallas Fed, and a member of the FOMC of the... } – Sep 27, 3:50 AM
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