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Back to Quack Off
Quack Off
by
Free
Market Duck
Wherein lies the value of
today's paper money?...
Derivative markets now exceed half a quadrillion dollars or
$500,000,000,000,000 of non-collateralized paper - Part 3
(Sep 17, 2007)
New York, NY -- OK,
girl friends, now that you comprendo the economic theory of value,
qualitative exchange ratios, price formation, the difference between money
and a paper receipt for money, your next question is: should the
Federal Reserve "inject more liquidity" into the market to save us all from
the impending recession?
"Inject
more liquidity?" Are you kidding? That's like asking,
"Should the Federal Reserve pour more gasoline on a raging wildfire?"
Or, "Should the Federal Reserve print up and dump into the economy billions
and billions of more non-collateralized paper?"
As Prof
Antal Fekete, PhD economist says:
"The world-wide regime of irredeemable
currency would have come to a sorry end decades ago if it weren’t for
gambling casinos [phony baloney investment markets
controlled by central bankers and governments – FM Duck] foisted upon
the world by governments hell-bent to keep the game of musical chairs going
non-stop. Governments, in the best tradition of casino owners, want people
to gamble in gold, bond, and forex futures. The
[fraudulently controlled – FM Duck] futures markets in gold, bonds
and forex serve a purpose, and one purpose only: to provide an outlet for
the Niagara-on-Potomac money supply gushing forth from the Federal Reserve
that could drown the entire world in a hyperinflationary deluge. If it
hasn’t, that’s because excess money has been soaked up by the gambling
casinos [the non-collateralized fake markets -- FM
Duck]. So far. People scramble for the excess supply of money because they
could use them as gambling chips. But as growth in the derivatives markets
(the size of which doubles every other year and by now exceeds
half a
quadrillion dollars or $500,000,000,000,000)
shows, this is not a stable process secured with proper checks and balances.
This is a runaway train on which the brakes
(i.e., the natural limitations of gold production) have been deliberately
disabled. Fraudulent hedging of gold mines and double standards in
regulating futures trading [by the central
bankers and the government, e.g., President Bush’s Plunge Protection Team –
FM Duck] are part of the sabotage. This is a
world disaster waiting to happen." -- FM Duck
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