Elaine Meinel Supkis
As I expected, the hyper-international banking system has been forced to continue flooding the global interbanking system with more funny money in wild and irresponsible attempt at re-establishing the fake low interest rate status quo set by fiat by the top central banking systems. This childish attempt at papering over inflation caused by wild US spending deep in the red will ultimately make things much worse in the long run but it seems no one with responsiblity wants to think in the long run at all. They just want to keep the free-trade, free spending status quo going as long as possible. And today, we must visit the deluded nuts running the IMF yet again.
The European Central Bank lent emergency money to banks for a third day, paring the amount and declaring that markets are returning to normal.The ECB loaned 47.7 billion euros ($65 billion) to banks, down from 61.05 billion euros on Aug. 10. The overnight rate at which banks lend euros to each other fell to as low as 4.03 percent from 4.16 percent earlier today. It spiked to 4.62 percent on Aug. 9, a six-year high. The ECB's benchmark refinancing rate is 4 percent.
They weren't kidding when they said they would spend to infinity to keep the present wacky banking system with chidlishly low interest rates going! It just might reach that number:∞. It is laughably simple: you keep adding zeros to the ledgers and to the currencies and voila! Infinity results. You know, this bank crisis could end swiftly. Without spending a single euro or yen or even one dollar! All the bankers have to do is raise interest rates to reflect accurately, the rate of inflation, the rate of real money creation, the real level of risk.
It may sound really childish to say this but the entire banking system depends on one thing to survive: savers. And to get savers to save, they must attract savers by offering attractive savings rates. The world's #1 and #2 economies refused to do this because they wanted to make the biggest financiers and corporate entities richer and richer so they gave away money for free, far below the real inflation rates. In both Japan and the USA, savings have collapsed due to this scheme. Instead of raising rates to stop the massive rise in debt levels, these entities dropped interest rates and Japan cut wages ruthlessly and ditto the US, both trying to enslave the working class within a cruel depression only the US failed in this effort.
So Japan has pressed an iron crown of thorns that are ever dropping wages and ever dropping prices upon the brows of its working class while the US pressed on a golden crown of thorns of 140% debt levels upon the brows of its working people. The US/Japan money making system that has been set up piece by piece ever since the US began its long decline in 1970 is now so huge, so out of control and so dangerous, even slight changes to it will cause all world commerce to collapse.
This last three business days has seen an infustion of funny money supported by absolutely nothing flood into the banks in order to keep interest rates at the levels set by the Bank of Europe, Bank of Japan and the Federal Reserve. It now is nearly $400 billion. And it isn't finished! Not at all!
From the article above:
``The situation is gradually normalizing,'' said Jose Luis Alzola, director of economic and market analysis at Citigroup Global Markets in London. ``However, fears will subside gradually rather than quickly.''
These little children running the world economic system must keep it going no matter what. They would love to think this is all about 'fear'. The problem is interest rates are too low to attract savers at the bottom. The little people's money. The interest rates on bonds is dropping because the big players are dumping their extra cash there right now. But the system needs a constant flow of small change into savings accounts that are very liquid. As billions of workers put their savings into their small bank accounts, this is a huge sum in toto. But if they see their money is losing value sitting in bank accounts that are not certificates of deposit but the old fashioned accounts, they begin to spend wildly hoping to make it useful before it vanishes due to inflation.
This is a bad feed-back cycle and the root cause is always central banks trying to paper over red ink. As my header says above, 'Red ink kills currencies' and a variation on this is 'Red ink kills savings.' The last thing the US economic system needs right now is $400 billion in easy money on easy terms! And I will continue to say, the international banking systems (sans China!) cannot sustain the US trade deficit without getting China to loan $400 billion back to themselves! I scour the news wires and there is not only not one yuan coming out of China to support the 4-5% interest rates set in Europe and the US, there isn't even a single word from the official Chinese about this whole thing...at all!
Such silence is very dangerous. Unlike the babbling and yeowling by the west, the pledges of honor to support the present system, China is singularily silent. For the Dragon is watching things and gaging the financial effects and it is watching Japan! For the entity at the very bottom of all this is Japan! And the Japanese are most anxious to keep this status quo going no matter what!
From the article above:
Central banks in South Korea, the Philippines, Singapore, Indonesia, India, and Malaysia have said they are prepared to add cash into their systems if required. The Reserve Bank of New Zealand today said it was ``business as usual'' in its conduct of daily operations.
World stock markets are uniformly celebrating this 'rescue' operation which has set into motion great forces of inflation! They really think all they have to do is keep pumping funny money into the fiat banking system and they can issue loans to each other while utterly ignoring the needs of savers and global saving on the lowest levels of the economic scale will continue to collapse!
European equity markets rebounded on Monday after efforts by the world’s central banks to restore confidence in the financial system helped soothe nerves.By late morning, the FTSE 100 was 107.7 points, or 1.8 per cent, higher at 6,145.4 - although still short of the 6,220.8 level at which it began the year.
Frankfurt’s Dax Index 30 was 0.8 per cent stronger at 7,401.61 and the CAC 40 in Paris rose 1.1 per cent to 5,509.52. The pan-European FTSE Eurofirst 300 was 1.2 per cent higher at 1,497.47.
Asian indices had closed higher after the Bank of Japan injected fresh liquidity into money markets to reduce overnight interest rates. The Y600bn (£2.52bn) move, coming after a similar, Y1000 intervention on Friday, helped the benchmark Nikkei 225 finish higher after suffering its worst performance since March on Friday.
How do you re-inflate a balloon? Just pump in more hot air! How simple can it get? If all the biggest international banks have to do is pledge each other huge infusions of free money, why don't they do this all the time, every day, for all eternity? We could be billionaires in no time at all! But if it is bad to inject $100 trillion of funny money, isn't it bad to inject $1 trillion in funny money? Of course. And they know this.
Under Greenspan, the Fed cut rates in September 2001 following the 9/11 terrorist attacks and also in January of that year due to signs of a weakening economy. The Fed also cut rates in October 1998 in response to the Asian financial crisis that led to the collapse of a prominent hedge fund in the U.S.Now investors are dealing with another financial crisis. Wall Street is in a full-blown panic about credit problems wreaking havoc on banks and potentially the overall economy.
Still, it was only a few days ago that the Federal Reserve decided to leave rates unchanged and hinted that it was not too worried about tightening credit standards. Wall Street interpreted this as a sign that an interest rate cut was unlikely in the next few months.
But in the past few days, stocks have plunged as more financial institutions have reported problems related to bad loans, particularly subprime mortgages to borrowers with poor credit histories.
As such, investors are now pricing in the possibility of an emergency quarter-of-a-percentage point interest rate cut sometime this month, according to federal funds futures listed on the Chicago Board of Trade.
The federal funds rate, a key short-term rate that determines rates for credit card loans, home equity loans and other types of consumer and corporate loans, currently stands at 5.25 percent.
Right on the heels of the world banking system seizing up and nearly collapsing, the guys trading stocks while borrowing money for this gambling enterprise, right after rates shot up to over 6%, they are all happily talking about Federal rates dropping...in the teeth of a total collapse in savings in America. We are in the red by $250 billion this year! Last year, we crossed a most dangerous line. Savings went into the red for the first time since the Great Depression. This was very bad and the Fed should have raised rates to a level that would discourage, not encourage, taking out loans. This would crash the economy but what looms behind all this is a total collapse of our entire society, the destruction of our empire and total poverty as we go bankrupt! The world's biggest empire in history can't go bankrupt! We have to avoid this!
But we can't. Since most of the people playing money games on Wall Street are doing this on borrowed funds and since most Americans have seen no growth or negative growth in wages and benefits, everyone is borrowing at the same time and this means they must tap savings elsewhere in the world in order to fund more loans and this is where the crunch is taking its bite. Who has lots and lots of savings? Heh.
Time to visit the International Monetary Fund:
In 2000, when the IMF first warned policymakers that imbalances in the global economy could derail global growth, the U.S. current account deficit stood at 4 percent of GDP.Today, that deficit has risen to more than 6 percent of GDP and is matched by large current account surpluses elsewhere, especially in China, Japan, and in oil-producing countries.
There are those who argue that these imbalances are sustainable and that the world economy will continue its impressive expansion (see "IMF Offers Compromise Path on Imbalances"). But many, including the IMF, do not think imbalances of this magnitude are sustainable in the long run and believe that action is needed to reduce them before they unravel in an abrupt and disorderly way.
This is their most recent statement about the unsustainable global trade situation. The statistics of 4% of GNP rising to 6% GNP in just 7 years doesn't look too bad. The children in the media and within our own goverment would trumpet, 'Look! It is so small! 96% of our GNP is not foreign trade!' But this is basically saying, 'Yeah, so what if our business went from losing 4% a year and is now losing 6% a year. Who cares?'
Any business that does this goes bankrupt. Any bank that does this goes bankrupt. If you or I do this all the time, we go bankrupt if our wages don't rise 6% or more a year. And if wages rise 6% and the deficit rises 6% this means there is inflation, not wealth. The concerted efforts of the Bank of Japan, the Federal Reserve and the Banks in Europe, England and English colonies all tried to paper over this inflation but it made it worse. Note that always, when inflation begins to rage, stock markets shoot up. But if you look at them differently and deduct inflation from the numbers, they are actually treading water or going down the drain.
John William's most excellent news service, 'Shado Government Statistics':
Note how the M3 numbers are shooting up. The M1, M2 and M3 calculations normally waver up and down relative to each other. But in 2000, they began to diverge. When the M3 numbers began to truly climb with the Greenspan 1% lending game, Bernanke entered the Fed and promptly cloaked the M3 numbers so we can't see them anymore. They are still there but he pretended no one was interested in them anymore and thus, we could be innocently unaware of what they were doing. This chart attempts to project forwards, what is going on. Congress should demand the Fed re-instate these statistics but they won't because they are in the back pocket, literally, of the financial classes that are causing this to happen and who desperately want endless cheap or free loans. This emphatically includes our government which has been running in the red nearly continuously since 1970.
Here is Ron Paul trying to explain inflation and how it is out of control. He also mentions the hiding of the M3 statistics:
From the IMF report:
The purpose of a multilateral consultation is to bring together a small group of countries to promote dialogue on and, eventually, a common solution to a particular problem of systemic importance. To ensure a free and frank exchange focused on policy implementation, the consultations are informal and confidential and involve only high-level policymakers.The United States, China, the euro area, Japan, and Saudi Arabia all agreed to participate in the first round of multilateral consultations. Some of these economies were direct parties to the imbalances, through current account deficits or surpluses, and some represented large shares of global output. The IMF invited them to participate because those five economies could, as a group, play a major role in both helping reduce the imbalances and sustaining world growth at the same time.
I have been tracking these various meetings. Not just the IMF but the G7 and G8 meetings. Despite the appearance that China and Saudi Arabia are both on board at these meetings, my news service has linked to more than one Chinese or Saudi news story from their own countries detailing their rage and disgust with the western bankers ganging up with Japan to attack only them. Russia isn't even allowed at these meetings but the bear looms in the background, picking up secret and now, not so secret alliances from these outraged countries.
Dumping the entire world trade problem onto China and Saudi Arabia is insane. Both will retaliate in the end. Both want to keep the system going just as much as Japan does and even Europe and the US want, but the US and Europe want to change the status quo, cutting out the profits of China, Russia and Saudi Arabia. Namely, they want no inflation, free oil and free workers and not pay for anything at all but to consume merrily, all world resources. This goofy imperialist scheme is doomed. Either we pay everyone a fair price and not try to inflate our way out of our debts or we cease consuming more than we produce. Period.
From the IMF:
Taken together, these policy plans will help countries make significant progress in all the key areas of the IMFC Strategy. IMF staff estimates suggest that, once implemented, these policies could result in a reduction in the U.S. current account deficit of about 1-1 ¾ percent of GDP, accompanied by reductions in surpluses elsewhere.
OK: reducing the US trade deficit to 'only' 1% means reducing our consumption by at least 5%! And what makes trade drop like this? Inflation or depression?
Anyone who is an old geezer like myself knows the grim answer to that question. And when, in world history, as ANY empire agreed to policies that reduce their consumption so dramatically? When a depression arrives due to unsustainable debts, debasing of the currencies and loss of savings by workers, what happens next?
Europe knows the answer to that!
From the IMF:
On July 20, 2007, the IMF's Executive Board met to take stock of the experience with the first round of multilateral consultations and to draw lessons for the future. The 24 Directors, who together represent the IMF's 185 member countries, said the consultation had helped deepen agreement on a coherent medium-term approach that would help implement the IMFC Strategy. They particularly welcomed the individual policy plans of the five participants, which they said would help reduce imbalances while supporting global growth—even if those plans did not always match the level of ambition advocated by the IMF in its dealings with those countries.
Hahaha. I bet the US delegation's plans didn't match the level of ambition of the IMF at all! Not to mention Europe and Asia! Indeed, did ANYONE? This is a classic example of everyone talking high and mighty and then digging in their collective heels to any change at all. In other words, there was no agreement. And who tells the world empire what to do? No one! But then, there is a second empire growing right in front of us and the IMF and the US cannot tell this empire what to do, either. Indeed, this new empire's FOREX reserves are bigger than the IMF's reserve fund for saving countries when the global banking system is threatened by someone going bankrupt! Nations in trouble no longer trouble to go to the IMF for loans, they go to this new empire!
Here is an IMF press release from August 7, 2007:
On July 20, 2007, the Executive Board of the International Monetary Fund (IMF) discussed the staff report on the Multilateral Consultation on Global Imbalances, with China, the Euro Area, Japan, Saudi Arabia, and the United States.
*snip*
Directors welcomed the opportunity to review, and take stock of the results of, the Fund's first multilateral consultation discussions on addressing global imbalances while maintaining robust global growth, in accordance with the strategy outlined by the IMFC. They welcomed the decision of China, the euro area, Japan, Saudi Arabia, and the United States to participate in the first multilateral consultation. Directors strongly endorsed the participants' reaffirmation that reducing global imbalances is both a multilateral challenge and a shared responsibility, and—given the global importance of this issue—their recognition that an orderly unwinding of imbalances would benefit all Fund members.While perceptions of the risks associated with global imbalances have diminished, they remain a key global concern. Directors observed that there have been welcome signs over the past year: imbalances have finally begun to stabilize, accompanied by some rebalancing of global demand; and economic policies and developments among the participants as well as other countries have increasingly evolved in a manner consistent with the IMFC strategy. Nonetheless, the imbalances remain historically high, and the possibility of a disorderly and potentially costly adjustment cannot be ruled out. Such risks could be exacerbated in the current environment by the strength of protectionist sentiment, which could intensify if large imbalances persist, or if global growth slows.
Over and over, I am amazed at the cluelessness of the people who have all the world's financial statistics at their fingertips yet they cannot see into the future at all. Blindly, they wave their wands and hope their incantations will change reality! But reality always wins in the bitter end. The perceptions of risk, far from diminishing in mid July, grew. And I detailed this very thing, here! I even said, 'On 7/17/7, we went into a full-blown financial crisis.' And I was grimly amused as nothing happened and the leaders all assured themselves, all was well. During that month, the IMF and China had a huge dust-up where China accused the IMF of attacking the Chinese people and hinted, they would retaliate if the IMF didn't apologize and then the G7 attacked China at the G8 meeting and then just last week, the IMF huffily told China, Japan can keep interest rates at .5% and could take their sweet time 'fixing' their fake depression.
And so, I was not surprised at all to see a sudden global banking crisis. The anger of the Chinese have not abated at all! Indeed, if anything, it is growing. And the reestablishment of the present status quo in trade is fine with China but not the reestablishment of the hectoring and whining of the IMF and the world banks. Either they shut up and praise China for keeping the status quo or the status quo dies. A bloody death.
Japan's current account surplus widened in June as a weaker yen increased the value of exports.The surplus expanded 48 percent to 1.52 trillion yen ($12.8 billion) from a year earlier, the Ministry of Finance said in Tokyo today. The median estimate of 28 economists surveyed by Bloomberg News was for the gap to swell to 1.61 trillion yen.
See? Japan's plan to keep the yen weak is working! Beautifully! So it is totally logical for China to do the same. They have no incentive to change all this if Japan is doing this. The infants working for the IMF and for all the imperial banks of the West forget what capitalism is all about: COMPETITION! And if something gives someone an advantage, they will do it more and more because this is how evolution works and how modern liberal economics work. So Japan will extend their fake depression, China will set its finances via fiat and the US will spend like crazy and refuse to admit to any inflation. And onwards we roll until one of these parties goes belly-up.
Asia Stocks Up, Forex Steady; Central Bank Injections CalmSINGAPORE (Dow Jones)--Asian financial markets stabilized Monday, after the region's central banks added modestly to the unprecedented liquidity injections made by the big three central banks late last week.
******************************************Toshiba Sells 10% Of Westinghouse To Kazatomprom
ALMATY, Kazakhstan (Dow Jones)--Kazakh state nuclear fuel company Kazatomprom and Japan's Toshiba Corporation (6502) signed an agreement Monday on the sale of 10% of Westinghouse Electric Company LLC to Kazatomprom for $540 million.
*****************************************
I am glad the Nikkei admits this cash infusion has been historic. We don't see the word 'unprecedented' thrown about lightly. If this is 'unprecedented' it means we just passed through a terrible financial storm. And if anyone imagines this Typhoon Dragon isn't growing stronger over the warm waters of US red ink, they are nuts. Note also the headline that a Japanese company that owns a vast stake in a US company is selling this to a country that is increasingly allied with Russia. They just had war games with Russia and China. At first, they broke away from Russia and after 9/11, let the US set up imperial compunds and bases there but as the US goes bankrupt, they are responding to this by increasing their ties to the two rising empires, Russia and China. Like China, they know that if they buy American stocks and bonds, they bind the US to their own wills and they lock us in their stocks and our little stockades in Asia will become hostages rather than extentions of imperial power.
``All the elements for the bull market are still in play,'' said Philippe Gijsels, senior equity strategist at Fortis Global Markets, which manages $62 billion. ``We're still fairly positive.''Treasuries advanced after traders raised bets that the upheaval in global credit markets will prompt the U.S. Federal Reserve to cut interest rates as early as next month. Stocks in the U.S. recovered from a global rout Aug. 10 after the Fed added $38 billion to banks to stem a crisis of confidence.
So, the damn stock market will soak up this $400 billion! Certainly, this money won't bouy up the US lending of money to homeowners. They are still pure poison. It won't re-inflate that balloon! So, we must calculate how long it will take for world stock markets to soak up $400 billion. Two months? My birthday is October 14th and right about then is when things usually collapse when they must collapse. This is a very irresponsible use of $400 billion. Instead of paying off debts, this will redouble them. All this money is being LENT TO SPECULATORS! And they need super-low rates relative to inflation and this infusion is very inflationary since it is all magical. The entire European and US banking systems did NOT call upon the $400 billion in FOREX reserves they hold to pull off this foolish rescue of global speculators.
China is very likely to become Nasdaq's biggest source of non-U.S. listings by the end of 2007, according to NASDAQ Stock Market vice chairman Michael Oxley.Although Oxley declined to give the specific number, there must be at least 23 more Chinese firms to be listed by year end for China to catch up with Israel, Nasdaq's current biggest source of non-U.S. listings, who has about 70 listed companies on the market.
I keep saying our stock markets no longer reflect the health, wealth or welfare of the US anymore. Here is more proof that the rising power of Asia is increasingly trying to conceal its real incursions in our empire. Japan did this by keeping their own stock market, the Nikkei, artificially anemic. China is doing this by creeping into our tent and making its bed there. So even as our GNP trade stats continue to worsen, stocks will soar.
When an investment banker set out to buy a $1.5 million home on Long Island last month, his mortgage broker quoted an interest rate of 8 percent. Three days later, when the buyer said he would take the loan, the mortgage banker had bad news: the new rate was 13 percent.“I have been in the business 20 years and I have never seen” such a big swing in interest rates, said the broker, Bob Moulton, president of the Americana Mortgage Group in Manhasset, N.Y.
“There is a lot of fear in the markets,” he added. “When there is fear, people have a tendency to overreact.”
Far from overreacting, I see fools happily trotting off the cliff like some wave of lemmings seeking new fields to graze. People often dislike my news service because I look into the far future and see some gloomy stuff if one is an American or interested in keeping this status quo going. But someone has to be an adult and consider long-range events! Right now, the lack of fear is preventing the US from changing anything. And ditto, Japan. Japan thinks China will allow them to merrily go onwards on their present path? The Chinese are already setting up their counter system: they will force the yen up once Japan uses up most of its FOREX reserves trying to prop up the present system. And Russia is waiting for Europe to drain its own reserves. I'll note that all summer long, Europe has been selling massive amounts of gold while the state banks all chime in saying, 'Who needs gold anymore?' This was to prevent people from being scared and running around, yelling for change!
Just like the US quietly sold 3/4ths of its own gold hoard in the 1960's. A move that presaged the first currency crisis to rock our nation since WWII.
Mr. Chan said this predilection for lemming-style buying or selling from investors using similar computer models could turn what would normally be a market setback into a wider contagion.“If all the models say buy, who is going to say sell? There is just not enough money on the other side,” he said.
The problems of these quantitative funds mirror those of the hedge fund industry as a whole — many funds have seen sharp declines in the last couple of months as the credit markets have dried up. Some quantitative funds could potentially have their worse year on record.
Despite the large sums of money involved, ranging from $250 billion to $500 billion, according to industry estimates, the club of quantitative investors is a small, exclusive one that bridges the trading desks of investment banks and some of the country’s largest hedge funds.
Every few years, people come up with neat systems to milk the markets. All of these are based on going contrary to the mass movements that are the status quo. And once everyone adopts the new system, it makes less and less profit until it begins to rot and everyone, rather than making money, begins to lose money, they blame all sorts of things. But this is the nature of these systems! This will always happen. Right now, the governments of the world are trying to prop up a rotted stock market system by printing money recklessly or savaging their FOREX reserves. This won't fix things, it will make them worse as the traders will continue to make deals that are based on flawed models.
And this is the nature of the beast: in markets, there are not only winners but losers. It is a competition. A fight to the finish. It is evolutionary and if people try to keep a status quo going in the teeth of contrary winds, the ship sinks! And this one is definitely sinking. But if you want to make easy money, investing in stocks right now is the way to go. There is going to be a trillion dollar funny money game going and everyone will be a winner for 2 months.
Culture of Life News Main Page
Culture of Life News Main Page
This is particularly ironic, I guess, because as the baby boom cohort gets set to retire, their invetment portfolios should reflect decreased market risk, traditionally a move from about a 60-40 equity to fixed income ratio, to the reverse of that or even more conservative. Tomorrow is here or will be soon. The assets reserved for retirement are going to need to be liquidated.
Where the hell does anyone invest conservatively? Everything is a sham, even (especially) government bonds. Even AT&T is a crock.
What a mess. It seems impossible that the world financial wizards will be able to prop this thing up indefinitely.
Posted by: D. F. Facti | August 13, 2007 at 10:54 AM
The 'tranches' infected all funds and of course, countries go bankrupt so US bonds can be very yukky if the Chinese dump $600 billion.
Posted by: Elaine Meinel Supkis | August 13, 2007 at 02:28 PM
Hi exactly right the central bankers are holding interest rates too low. To keep it so low, they must pump in huge amounts of money. But by pumping in money that in itself creates inflation. And soon investors want a higher rate of return to compensate for the higher inflation. So then the bankers must either raise rates even more, or pump exponentially more money into the system.
My prediction right now is the inflation numbers are going to show a 'surprise' rise in inflation. The powers that be will make inflation look higher, to justify the fed then doing a surprise raise in interest rates. It appears how the credit markets blew up on aug 9, investors want 50-60 bps more.
Posted by: aa2 | August 14, 2007 at 06:37 AM
Correct. We are in a trap. A classic trap, easy to avoid but to avoid it, you have to avoid easy money. How simle can it all be, anyway?
We should have cut back on our oil consumption when it began to rise. We didn't. Fatal mistake.
Posted by: Elaine Meinel Supkis | August 14, 2007 at 10:29 AM
Oil was about 1/3rd of the deficit this month.. the overall numbers for the deficit actually looked relatively good.
One thing with oil is to do what most countries do and have a higher oil tax. Can even make it 'revenue nuetral.' I would also then help out the big car companies some, since they designed their products assuming gas taxes would stay the same.
The other thing is it surprising how much of the use of oil in America is people using it for heating.
Posted by: aa2 | August 14, 2007 at 12:34 PM
You are totally correct. But the politics of increasing taxe are obvious.
Posted by: Elaine Meinel Supkis | August 14, 2007 at 05:15 PM
Hong Kong Broadband Network (HKBN) has officially launched a staggering 1Gb service- yes, that’ s a whopping 500 times faster than the 2Mb service that’ s available to most people in the UK. The price for this lightning fast package? Just 120/ month, and it’ s available to over a third of Hong Kong’ s 2. 2 million households. If we ever get a similar package over here, let’ s just hope ISPs don’ t slap a 1GB cap on it. You can read Test Bed comments on capping and join in on the debate here.
Posted by: make money | April 04, 2008 at 06:07 AM