Folks
For many months Ive been warning that the credit crunch starts when banks stop lending to other banks.
From todays FT -
Barometers of financial stress hit record peaks across the world. Yields on short-term US Treasuries hit their lowest level since the London Blitz, while gold had its biggest one-day gain ever in dollar terms. Lending between banks, in effect, stopped.
My advice - insure now with Prudential - oh gosh they've gone pear shaped as well ???
For many months Ive been warning that the credit crunch starts when banks stop lending to other banks.
From todays FT -
Barometers of financial stress hit record peaks across the world. Yields on short-term US Treasuries hit their lowest level since the London Blitz, while gold had its biggest one-day gain ever in dollar terms. Lending between banks, in effect, stopped.
My advice - insure now with Prudential - oh gosh they've gone pear shaped as well ???
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