muses of the moment

January 28, 2010

John Williams speaks

John Williams with was interviewed on Goldseek Radio. He reviews the fundamentals, the double-dip depression, and the dollar. He uses the real stats to help us understand what is really happening and cut through the F-TV double talk.

Click here.

Lots of free stuff on the website. The subscription for the more recent information is well worth the money. I get no kick back for saying that.

Very important-side musing: Money markets can now suspend redemptions. Repeat, money market funds are not as liquid as in the past. Click here. (fixed the link) (And make sure you read the comments on this post.) As a result, 30-day Treasuries have turned a negative interest rate yesterday as investors pile into something that is liquid even if they lose money on the deal. This is what I meant when I said that it is more important to have savings preserved and available vs. earning a return. A million dollars in a money market fund that you can’t redeem (when you need it) is really zero dollars. Investment priorities have changed for the long-term. Understand this shift.

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