unencumbered assets, page-33

Prior to the current stepping down, in Jan 06 the CB's started an aggressive, rapid fire, coordinated ratcheting up of rates 'due inflation concerns'. They kept increasing until they 'pricked' the bubble and started the current deflationary collapse... This recession was intentional, and I assume, staffed by highly trained individuals, they knew full well the ramifications for the world economy, banks, mines, REIT's etc which had been suckled on low US driven rates for decades.

http://www.tradersnarrative.com/wp-content/uploads/2008/12/global%20central%20bank%20interest%20rates.png

I like the Typo "Mew York City". Must be due to the long running Broadway musical: "Cats" ?