<table><tr><th>From:</th><th>Peter Thiel</th></tr><tr><td>Sent:</td><td>Wednesday, January 7, 2015 11:25 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>RE: zero interst rates are too high</td></tr></table>

super-dovish... And in US and UK as well. Central banks are really tight in those two places, though everyone thinks they are

From: jeffrey E. [mailto:jeevacation@gmail.comj Sent: Wednesday, January 07, 2015 2:23 AM To: Peter Thiel Subject: zero interst rates are too high

http://www.nytimes.com/2015/01/08/business/international/europe-economy-deflation.html?hp&action=click&pgtype=Homepage&module=first-column-region&region=top-news&WT.nav=top-news

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