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Interest Rate Hike Tomorrow?

 
Renegade (Me too)

User ID: 36457573
United States
03/19/2013 06:07 PM

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Re: Interest Rate Hike Tomorrow?
I run a mortgage brokerage (The housing bust was the banks' fault for creating those stupid-ass loans and the government's for forcing us all to make them, so back off with your shots at the little guys. That's not what this is about).

Anyway, I got a pretty panicked call from one of my investors, a large West Coast wholesale lender, about an hour ago imploring me to lock all of my loans immediately because they anticipate a "significant rate hike" tomorrow, and when I asked if it was tied to the recent Cyprus unpleasantness, my account manager said he thinks so, but nobody told him exactly why.

My question is: Bernanke has said, on many occasions, he has no plans to raise rates anytime soon, and as we have seen mentioned, ad nauseum, for at least a couple years, to raise rates right now would be shooting our economy in the head. Did Cyprus change the game? I just can't see the Fed raising rates right now. Could this mess rock the market so much that rates float up on their own?

I'm about as panicked as I can be, after 5 years of watching this stuff every day, which is not very panicked given all the false starts, about the possibilities of Cyprus kicking off the derivative bomb we've all been looking for, but I have a hard time seeing our domestic interest rates going up much anytime soon.

What do y'all think?
 Quoting: ReVbo™


Coming from you Rev, i take this seriously. But I can't make the connection of the derivative bomb and higher interests. Explain?
Who is John Galt?
Anonymous Coward
User ID: 21681843
United States
03/19/2013 06:08 PM
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Re: Interest Rate Hike Tomorrow?
They cant do it
Resister

User ID: 1461638
United States
03/19/2013 06:11 PM

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Re: Interest Rate Hike Tomorrow?
I run a mortgage brokerage (The housing bust was the banks' fault for creating those stupid-ass loans and the government's for forcing us all to make them, so back off with your shots at the little guys. That's not what this is about).

Anyway, I got a pretty panicked call from one of my investors, a large West Coast wholesale lender, about an hour ago imploring me to lock all of my loans immediately because they anticipate a "significant rate hike" tomorrow, and when I asked if it was tied to the recent Cyprus unpleasantness, my account manager said he thinks so, but nobody told him exactly why.

My question is: Bernanke has said, on many occasions, he has no plans to raise rates anytime soon, and as we have seen mentioned, ad nauseum, for at least a couple years, to raise rates right now would be shooting our economy in the head. Did Cyprus change the game? I just can't see the Fed raising rates right now. Could this mess rock the market so much that rates float up on their own?

I'm about as panicked as I can be, after 5 years of watching this stuff every day, which is not very panicked given all the false starts, about the possibilities of Cyprus kicking off the derivative bomb we've all been looking for, but I have a hard time seeing our domestic interest rates going up much anytime soon.

What do y'all think?
 Quoting: ReVbo™


I think I may call my loan company to lock in a rate before closing on a property in the next couple of weeks. Seriously, I just got approved for a loan for land and was just reading the notice this morning that I could "lock in" any time before closing which is currently supposed to happen March 31st.

Thanks for the heads up. It may not change between now and a couple of weeks anyway, but it sure as heck isn't going down. Can't hurt to lock in now.
"God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787
Lady Jane SmithModerator
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03/19/2013 06:11 PM

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Re: Interest Rate Hike Tomorrow?
Raising interest rates in the USA to 0.75% p/year would be enough to destroy the whole world economy in a matter of weeks...


ohyeah
 Quoting: Anonymous Coward 36517690


It would take very little to send everything toppling considering the fragility of the global economy. The current demand is highly elastic, and increase in the cost of $ will have a geometric impact & usher in a halt to any "recovery" activities.
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
DoomRunner

User ID: 25143006
03/19/2013 06:11 PM

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Re: Interest Rate Hike Tomorrow?
bump
Nickadeemus

User ID: 30688699
United States
03/19/2013 06:12 PM
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Re: Interest Rate Hike Tomorrow?
The only thing I could think of to set off a rise in interest rates would be some kind of domino reaction in derivatives disney land. Maybe related to interest rate derivatives?

If the banks figure they might lose on interest rate bets they made, I suppose it's possible they would raise rates. But honestly, I can't think of any other reason they would do that.

.
 Quoting: Anonymous Coward 961432


I take that back.

Perhaps, the geniuses at the marriner eccles building have finally reached the conclusion that the liquidation value of perpetual debt threshold has been reached. Thinking it is related to the prevailing interest rates at the present, they intend to raise interest rates to avoid catastrophe.

When in point of fact it was the serial halving of interest rates that occurred from it's decade high in late 2007 of around 5.8% down to current record lows of near 0%. All the debt issued in that time frame would have to be doubled for each time the interest rate was halved to arrive at the total liquidation value of perpetual debt over that time period.

In other words, its too damn late now.

[link to www.safehaven.com]

.
 Quoting: Anonymous Coward 961432


The most intelligent possibility thus far injected. Well said sir/maam! It's kind of like the FED is a turtle on it's back.

Nick®
nickmubi
 Quoting: Nickadeemus


Just passing on some often ignored wisdom from Fekete. I think he has been shockingly right all along.

Best of luck to you and yours.

.
 Quoting: Anonymous Coward 961432


And as well to you and yours.

Nick®
Pure Life; Get it on...
Anonymous Coward
User ID: 36417394
United States
03/19/2013 06:13 PM
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Re: Interest Rate Hike Tomorrow?
Coming from you Rev, i take this seriously. But I can't make the connection of the derivative bomb and higher interests. Explain?
 Quoting: Renegade (Me too)



If I may... long story short, bond prices fall, yields rise.

This is all about keeping the bondholders secure at everyone else's expense, gig up, game over.
Nickadeemus

User ID: 30688699
United States
03/19/2013 06:14 PM
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Re: Interest Rate Hike Tomorrow?
...


Thanks, Jane. That's what I've been thinking. I don't know what has these guys so spooked, but I thought it was worth discussing. Either way, this Cyprus thing smells really bad.
 Quoting: ReVbo™


Agree. This may certainly be viewed as the trigger when we reflect back in several years. If we are able to reflect back, that is.
 Quoting: Lady Jane Smith


Man...Granted, I'm sleepy, but you just knocked the crap out of my desensedoomed brain. Very surreal to think of reflection not being possible. Good to see you M'Lady. Looking dashing and dapper as usual.

Nick®
sword 2
 Quoting: Nickadeemus


Hi Nick!!

Just got out of the bubble bath.


Hugs!

Kitty on Red
 Quoting: Lady Jane Smith


So good to see you ma'am. Think Revbo might be on to something here. Good thing some one gave him a pin. ;->

Nick®
bearhug
Pure Life; Get it on...
Lady Jane SmithModerator
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User ID: 1305009
United States
03/19/2013 06:16 PM

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Re: Interest Rate Hike Tomorrow?
...


Agree. This may certainly be viewed as the trigger when we reflect back in several years. If we are able to reflect back, that is.
 Quoting: Lady Jane Smith


Man...Granted, I'm sleepy, but you just knocked the crap out of my desensedoomed brain. Very surreal to think of reflection not being possible. Good to see you M'Lady. Looking dashing and dapper as usual.

Nick®
sword 2
 Quoting: Nickadeemus


Hi Nick!!

Just got out of the bubble bath.


Hugs!

Kitty on Red
 Quoting: Lady Jane Smith


So good to see you ma'am. Think Revbo might be on to something here. Good thing some one gave him a pin. ;->

Nick®
bearhug
 Quoting: Nickadeemus


We will have to see, an increase will have a slowing effect on spending, but could prove to encourage people not to empty their accounts.

Will not work on me. I will not keep my savings in for a stinking 2% and face a serious threat of losing everything.
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Nickadeemus

User ID: 30688699
United States
03/19/2013 06:16 PM
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Re: Interest Rate Hike Tomorrow?
Raising interest rates in the USA to 0.75% p/year would be enough to destroy the whole world economy in a matter of weeks...


ohyeah
 Quoting: Anonymous Coward 36517690


It would take very little to send everything toppling considering the fragility of the global economy. The current demand is highly elastic, and increase in the cost of $ will have a geometric impact & usher in a halt to any "recovery" activities.
 Quoting: Lady Jane Smith


Let's not forget also that this Cypress business is not being conducted within the same "Hush/secret/sweepunder rug" parameters as was Greece. This is WAY more in the open which begs the question. Was it intentional?

Nick®
thinkin
Pure Life; Get it on...
Anonymous Coward
User ID: 1482838
United States
03/19/2013 06:17 PM
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Re: Interest Rate Hike Tomorrow?
I still see the pressure to raise rates being from the bottom up, not from the top down.

If depositors take their money a bank has no choice but to raise rates to attract the deposits.
If all the banks in a town are experiencing loss of account holders, first one, then another will raise the savings paid on long term deposits. They can not afford to monetize all the accounts, they HAVE to try to keep them in place.
MaxMad

User ID: 36519171
United States
03/19/2013 06:17 PM

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Re: Interest Rate Hike Tomorrow?
They cant do it
 Quoting: Anonymous Coward 21681843


They will be forced to!!
Anonymous Coward
User ID: 16588
United States
03/19/2013 06:19 PM
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Re: Interest Rate Hike Tomorrow?
Anybody? Bueller? I know it's pretty low-level intel, but hey, this is about as exciting as this game gets.
 Quoting: ReVbo™

bsflag
Realtors and bankers are the same in my book.Nobodies buying shit anyway.What the fuck does any of it matter now.We are toast.
Nickadeemus

User ID: 30688699
United States
03/19/2013 06:19 PM
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...


Man...Granted, I'm sleepy, but you just knocked the crap out of my desensedoomed brain. Very surreal to think of reflection not being possible. Good to see you M'Lady. Looking dashing and dapper as usual.

Nick®
sword 2
 Quoting: Nickadeemus


Hi Nick!!

Just got out of the bubble bath.


Hugs!

Kitty on Red
 Quoting: Lady Jane Smith


So good to see you ma'am. Think Revbo might be on to something here. Good thing some one gave him a pin. ;->

Nick®
bearhug
 Quoting: Nickadeemus


We will have to see, an increase will have a slowing effect on spending, but could prove to encourage people not to empty their accounts.

Will not work on me. I will not keep my savings in for a stinking 2% and face a serious threat of losing everything.
 Quoting: Lady Jane Smith


laugh
same here!!! I was just telling Rev earlier that I needed to get my $ in the bank back down to a manageable level.

Nick®
Pure Life; Get it on...
ReVbo™ (OP)
Pook Snabber

User ID: 36513487
United States
03/19/2013 06:21 PM

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Re: Interest Rate Hike Tomorrow?
I run a mortgage brokerage (The housing bust was the banks' fault for creating those stupid-ass loans and the government's for forcing us all to make them, so back off with your shots at the little guys. That's not what this is about).

Anyway, I got a pretty panicked call from one of my investors, a large West Coast wholesale lender, about an hour ago imploring me to lock all of my loans immediately because they anticipate a "significant rate hike" tomorrow, and when I asked if it was tied to the recent Cyprus unpleasantness, my account manager said he thinks so, but nobody told him exactly why.

My question is: Bernanke has said, on many occasions, he has no plans to raise rates anytime soon, and as we have seen mentioned, ad nauseum, for at least a couple years, to raise rates right now would be shooting our economy in the head. Did Cyprus change the game? I just can't see the Fed raising rates right now. Could this mess rock the market so much that rates float up on their own?

I'm about as panicked as I can be, after 5 years of watching this stuff every day, which is not very panicked given all the false starts, about the possibilities of Cyprus kicking off the derivative bomb we've all been looking for, but I have a hard time seeing our domestic interest rates going up much anytime soon.

What do y'all think?
 Quoting: ReVbo™


Coming from you Rev, i take this seriously. But I can't make the connection of the derivative bomb and higher interests. Explain?
 Quoting: Renegade (Me too)


I think we have some folks in here who are better qualified to answer that question than I, but if the debt implosion begins, rates will have to go up to bring investors back into the bond market, if there's a bond market left. I just have a hard time seeing how Bernanke is going to move that quickly, when, as they've been saying all over MSM today, it's just little ole Cyprus. To raise rates right now would be a sign of utter panic on the part of the Fed, and would make things even worse.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Nickadeemus

User ID: 30688699
United States
03/19/2013 06:21 PM
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Re: Interest Rate Hike Tomorrow?
Nite guys. Nick's beat.

nicksleep

Big love Rev & Janie!

Nick®
Pure Life; Get it on...
ReVbo™ (OP)
Pook Snabber

User ID: 36513487
United States
03/19/2013 06:22 PM

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Re: Interest Rate Hike Tomorrow?
I run a mortgage brokerage (The housing bust was the banks' fault for creating those stupid-ass loans and the government's for forcing us all to make them, so back off with your shots at the little guys. That's not what this is about).

Anyway, I got a pretty panicked call from one of my investors, a large West Coast wholesale lender, about an hour ago imploring me to lock all of my loans immediately because they anticipate a "significant rate hike" tomorrow, and when I asked if it was tied to the recent Cyprus unpleasantness, my account manager said he thinks so, but nobody told him exactly why.

My question is: Bernanke has said, on many occasions, he has no plans to raise rates anytime soon, and as we have seen mentioned, ad nauseum, for at least a couple years, to raise rates right now would be shooting our economy in the head. Did Cyprus change the game? I just can't see the Fed raising rates right now. Could this mess rock the market so much that rates float up on their own?

I'm about as panicked as I can be, after 5 years of watching this stuff every day, which is not very panicked given all the false starts, about the possibilities of Cyprus kicking off the derivative bomb we've all been looking for, but I have a hard time seeing our domestic interest rates going up much anytime soon.

What do y'all think?
 Quoting: ReVbo™


I think I may call my loan company to lock in a rate before closing on a property in the next couple of weeks. Seriously, I just got approved for a loan for land and was just reading the notice this morning that I could "lock in" any time before closing which is currently supposed to happen March 31st.

Thanks for the heads up. It may not change between now and a couple of weeks anyway, but it sure as heck isn't going down. Can't hurt to lock in now.
 Quoting: Resister


Yeah, if you're gonna close in the next 30 days, it won't hurt at all to lock now. If it's farther out than that, I would do it anyway. It might cost you a quarter of a point, but things are so weird right now, the piece of mind would absolutely be worth it to me.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Lady Jane SmithModerator
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User ID: 30784106
Russian Federation
03/19/2013 06:24 PM

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Re: Interest Rate Hike Tomorrow?
Nite guys. Nick's beat.

nicksleep

Big love Rev & Janie!

Nick®
 Quoting: Nickadeemus


Good night


Time to Turn In
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Anonymous Coward
User ID: 3937774
Canada
03/19/2013 06:28 PM
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Re: Interest Rate Hike Tomorrow?
The government here just forced Manulife Financial to raise its rates (they said it was too low, and they didnt want the lenders to do a race to the bottom).

So much for a free market.


Isnt that called Communism when a government tells a independent company what to do?
ReVbo™ (OP)
Pook Snabber

User ID: 36513487
United States
03/19/2013 06:29 PM

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Re: Interest Rate Hike Tomorrow?
The government here just forced Manulife Financial to raise its rates (they said it was too low, and they didnt want the lenders to do a race to the bottom).

So much for a free market.


Isnt that called Communism when a government tells a independent company what to do?
 Quoting: Anonymous Coward 3937774


Fascism, and yeah, that's exactly what this industry is. I've got a form and a regulation for everything.
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Anonymous Coward
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United States
03/19/2013 06:30 PM
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Re: Interest Rate Hike Tomorrow?
Anyway, I got a pretty panicked call from one of my investors, a large West Coast wholesale lender, about an hour ago imploring me to lock all of my loans immediately because they anticipate a "significant rate hike" tomorrow,
 Quoting: ReVbo™


Your investor is a FUCKING DOOMTARD!!!

AS would you be if you listened to him!




.
ReVbo™ (OP)
Pook Snabber

User ID: 36513487
United States
03/19/2013 06:34 PM

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Re: Interest Rate Hike Tomorrow?
Anyway, I got a pretty panicked call from one of my investors, a large West Coast wholesale lender, about an hour ago imploring me to lock all of my loans immediately because they anticipate a "significant rate hike" tomorrow,
 Quoting: ReVbo™


Your investor is a FUCKING DOOMTARD!!!

AS would you be if you listened to him!




.
 Quoting: Anonymous Coward 6685296


chuckle
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Useless Cookie Eater

User ID: 29696048
United States
03/19/2013 06:37 PM

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Re: Interest Rate Hike Tomorrow?
Raising interest rates in the USA to 0.75% p/year would be enough to destroy the whole world economy in a matter of weeks...


ohyeah
 Quoting: Anonymous Coward 36517690


It would take very little to send everything toppling considering the fragility of the global economy. The current demand is highly elastic, and increase in the cost of $ will have a geometric impact & usher in a halt to any "recovery" activities.
 Quoting: Lady Jane Smith


^^^ This.
....and traditionally the Fed does 1/4 point moves.

.75 is insanity in a box.

hiding damned

Last Edited by Useless Cookie Eater on 03/19/2013 06:37 PM
Anonymous Coward
User ID: 961432
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03/19/2013 06:40 PM
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Re: Interest Rate Hike Tomorrow?
Anyway, I got a pretty panicked call from one of my investors, a large West Coast wholesale lender, about an hour ago imploring me to lock all of my loans immediately because they anticipate a "significant rate hike" tomorrow,
 Quoting: ReVbo™


Your investor is a FUCKING DOOMTARD!!!

AS would you be if you listened to him!

.
 Quoting: Anonymous Coward 6685296


Then he'd fit right in on GLP!

cheers
guynur

User ID: 36045435
United States
03/19/2013 06:41 PM
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Re: Interest Rate Hike Tomorrow?
When I started out in lending, monthly mortgage payments should not exceed 28% of Gross Monthly Income and total debts not to exceed 33% of GMI. Years later to be able to make mortgages available to buyers with low income the government thru Fannie Mae and Freddie Mac lowered the standards. So if a low income buyer came in to buy a house if they fell within the gov't guidelines you pretty much had to make the loan if the credit report was ok. I know loan officers who f-in hated these loans. They knew they were crap.

The lenders could have kept the loans in house and not use the gov't guidelines but not many lenders would stick their necks out for 30 year in house loans.

Bottom line the gov't reduced mortgage requirements and ended up with quantity vs quality. Think about it. 28%/33% w/20% down.

The banks rolled them together and ended up with shit.
Anonymous Coward
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United States
03/19/2013 06:46 PM
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Re: Interest Rate Hike Tomorrow?
.


I wouldn't be surprised if the Fed raised rates.

The Fed lowered rates to cause the housing bubble...
then raised rates to burst it.


.
Useless Cookie Eater

User ID: 29696048
United States
03/19/2013 06:49 PM

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Re: Interest Rate Hike Tomorrow?
.


I wouldn't be surprised if the Fed raised rates.

The Fed lowered rates to cause the housing bubble...
then raised rates to burst it.



.
 Quoting: Anonymous Coward 18850150


100% wrong.

putin

Last Edited by Useless Cookie Eater on 03/19/2013 06:49 PM
Lady Jane SmithModerator
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03/19/2013 06:49 PM

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Re: Interest Rate Hike Tomorrow?
Calling it a night.

Chat ya'll up tomorrow.

Sleeping Kitty
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Anonymous Coward
User ID: 36340478
United States
03/19/2013 06:53 PM
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Re: Interest Rate Hike Tomorrow?
It would be great for stocks,
but precious metals prices would
crater bigtime.
Anonymous Coward
User ID: 2539070
United States
03/19/2013 07:05 PM
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Re: Interest Rate Hike Tomorrow?
They cant do it
 Quoting: Anonymous Coward 21681843


this.. when the rate goes up, the lights go out. imo

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