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Back to Quack Off
Quack Off
by
Free
Market Duck
NY Stock Market crashes 387
points as sub-prime fiasco hits Germany, France
(Aug 10, 2007)
New York, NY – Heading off the worst
financial crisis in Germany since the 1930s -- which rhymes with The Great
Depression -- German central bankers counterfeited (created out of thin air
with no collateral) and injected 18 billion Euros ($20 billion US) into the
German market to sop up the sub-prime slime created in the U.S. and sucked
up as investments by IKB Deutsche Industriebank AG in what they thought were
highly-rated Triple A bonds. Suckers.
Also ensnared in the U.S.
sub-prime debacle were a suburban Minneapolis school district and the city
of Oakland, California, both of whom were essentially loaning the CDOs
(Collateralized Debt Obligations) to the Krauts in Rhineland. Problem
is, CDOs are no more collateralized than the non-backed Funny Money printed
up by each of the G8 nation's central bankers when they print up their
national currencies out of thin air.
"We don't take risks," said
Oakland's treasury manager, who apparently can't spell
"c-o-l-l-a-t-e-r-a-l."
Meanwhile, the NY stock market
crashed 387 points yesterday after France also announced one of its banks
suffered big losses in the sub-prime slop that spilled over into Europe.
The European Central Bank counterfeited (created out of thin air with no
collateral) and injected 95 billion Euros ($130 billion US) into their money markets
to bring short-term interest rates down by the end of the day.
Not to be outdone by all the
printing up of non-backed paper money, the central bankers at the U.S.
Federal Reserve -- a private banking corporation robbing American citizens
by pretending to "manage" ha-ha the U.S. economy -- counterfeited (created
out of thin air with no collateral) and injected
$24 billion into the U.S. economy yesterday and
$38 billion today in
order to solve the problem of non-collateralized sub-prime mortgages with
non-collateralized U.S. dollars -- and stop the stock market
crash. Go figure.
"Hey," quipped FM Duck, "ain't
that like one counterfeiter trying to bail out another counterfeiter with
more bogus non-promissory notes?" Or, throwing gasoline on an already
out-of-control wildfire? -- FM Duck
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