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B4 the Bell Turdsday July 8, 2004


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The total suctioned in the two auctions was $25 billion. All new cash. Payment due July 15.

 

This is a huge stress on the market at this point and could be enough to send it into the abyss without massive Fed pumping.

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The total suctioned in the two auctions was $25 billion. All new cash. Payment due July 15.

 

This is a huge stress on the market at this point and could be enough to send it into the abyss without massive Fed pumping.

So massive fed pumping is the order of the day

Not going to help the dollar that is looking like its ready to do a cliff dive :D

 

Really appreciate the comments Doc.

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Maybe there is a problem in Russia After all

 

' Presidential economic adviser Andrei Illarionov made clear he disagreed with Prime Minister Mikhail Fradkov who tried earlier in the day to calm fears that banks were in trouble.

 

 

"It is obvious that there is a banking crisis," Interfax news agency quoted Illarionov as saying. '

 

http://story.news.yahoo.com/news?tmpl=stor...ssia_banks_dc_1

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