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Wells Fargo & Company Message Board

  • investorzzo investorzzo Dec 31, 2009 8:40 AM Flag

    10 Predictions for 2010: Economy, Dollar, Gold

    The main thing I disagree with this article, is the reason the banks aren't lending. They continue to sell back the money they get to the fed for guaranteed 4 percent return. This allows banks to make a profit and keeps money out of the system, there by keeping inflation at bay.
    http://www.theaureport.com/pub/na/3458

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    • ppedroli,

      you do understand that WFC liquidity is less now than it was a year and a half ago, right?

      whats included in liquidity is treasury bonds.

      I understand you are bearish on the economy but some of the things you say dont resonate with WFC.

      As far as I know WFC is only purchasing short term T-bills which is less than 1%, and beyond that I dont think WFC obtains much money from the discount window. Im not sure, Ive scoured their 10q to find the answer, are you able to see where they are borrowing for zero percent from the Fed on their 10q?

      I think it might show up within their agreements for purchase buy backs, but thats about it. Also if you do a search within their 10q for the number 322 you'll find they either have the ability to borrow 322b from the Fed or else already have borrowed that amount.

    • The main thing I disagree with this article, is the reason the banks aren't lending. They continue to sell back the money they get to the fed for guaranteed 4 percent return. This allows banks to make a profit and keeps money out of the system, there by keeping inflation at bay.


      **********

      I would think this is how the banks are unwinding these bad assets(imho of course)


      the ONE and only

      LAUNIUSS

 
WFC
50.90-1.20(-2.30%)Jul 31 4:00 PMEDT

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