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More big trouble in global money system together with US CPI numbers. Major fallout continues.

Eurodollar University

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The Fed's Predictions of Rates for the Rest of the Year

The fact that two significant banks failed in a high-tech version of an old-fashioned bank run and triggered broader financial market turmoil is not what's significant to the Fed. The idea that individual bank failures as I talked about yesterday with the IMF were isolated cases was wrong. In the last 15 years they have been Symptoms of systemic issues the types of systemic issues we're seeing now. This is not a regional But this is not a Regional bankrun a high- tech or whatever Goolsbee said it was It's a systemic issue. Just like what linked together Countrywide with Bear Stearns and Lehman Brothers and Wacovia all those back in 2008.

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