FreeMarketDuck.com

Idaho's Weekly Journal of Local & National Commentary  Week 1514

 

Home • Up • About us • Contact • Glossary • Links

 

 

Back to Quack Off

 Quack Off               

 

 


by Free Market Duck

President Bush and Federal Reserve bankers plan for nationwide bankruptcy with fake 3-week flu test
(Oct 3, 2007)

By pretending to test the financial institutions in America in the absurd case that everybody who works at a bank, stock market, and investment house comes down with the tweety bird flu or a bad headache or menstrual cramps all at once and doesn't show up to work, President Bush's Plunge Protection Team and the central bankers have cleverly devised a 3-week test to determine how to handle what they really fear:  a run on the banks by depositors due to our hyperinflated monetary meltdown and the impending recession.

So if everybody at the bank is sick, then everybody everywhere else will be sick, too, and nobody, including customers, will be going to the bank.  Who do the Feds think they're kidding?  This is a dress rehearsal for a stock market crash and run on the banks, not a bird flu pandemic.

Washington, DC What if everyone working at our nation's banks called in sick on the same day?  Bullshit.  The real question is:  what if every depositor ran to their bank to pull out all their money to re-invest in hard commodities to avoid further devaluation of their hyperinflated paper money?

   Starting last Monday, Oct 2nd, 2,700 financial institutions including banks, the New York Stock Exchange, and leading investment houses are participating in a 3-week dress rehearsal for the worst case scenario.  No, not a bird flu pandemic.  A 1929-style run on the banks and stock market crash.

   Why?

   Because the Fed is terrified that U.S. citizens will do exactly what the depositors at England's Northern Rock PLC have been doing for the last two weeks, namely, a run on that bank to pull 4 billion Pounds out of their savings accounts even though the Bank of England has publicly stated they will redeem all depositors' money at all British banks.  But the Big Question is:  redeem it with what?  Why, more worthless paper Pounds, that's what, and at 3-5% interest while price inflation is raging around 10-20%.  What a deal.

   Can it happen in the U.S.?  You bet.  Several weeks ago, depositors lined up around the block in LA to pull their deposits from subprime mortgage-plagued Countrywide S & L.  To quell the riot, the Fed dumped billions of dollars into the banks and lowered interest rates.  Nothing like pouring more gasoline on a raging wildfire.

   The current 3-week dress rehearsal plan was concocted by President Bush in May 2006 in case we plunge into an instant replay of America's Oct 29, 1929, Great Stock Market Crash.  The Big Crash, preceded by the Fed's Big Hyperinflation of the money supply, led to our 1930's Great Recession, which then morphed into our Great Depression when idiot President FDR, who once gloated, "I never read a book in my life," proved it by snatching defeat from the jaws of recovery and dragged the Great Recession into a Greater Depression by not allowing the market to clear itself.  Thus began WW II, the dumping of the gold standard, and First Lady Eleanor Roosevelt's leading America down the path to socialism on the installment plan -- because, unlike hubster FDR, she had read a couple of books, one of them being The Communist Manifesto by Karl Marx.  Trouble is, she became best buddies with Stalin who later referred to her and her illiterate husband as "useful idiots" as he slaughtered millions in the U.S.S.R. while making big plans to conquer America.

   Back to the scene of the crime.

   Valerie Abend (no pun intended), who is the U.S. Treasury's Deputy Assistant Secretary for Critical Infrastructure Protection -- that mouthful should tell you something right there, girl friends -- said of the 2,700 participating institutions tap dancing in the fake Tweety Bird Bank Musical, "This shows how much the business sector is focused on pandemic flu planning."

   Really?  Chirp, chirp.

   Translated into street talk, what Ms. Abend really said was, "This shows how scared shitless the central bankers and President Bush are if people finally figure it out and run down to pull all their moolah out of their savings accounts, cause we don't have it and the Feds will have to print up more and more of our National Wallpaper, which causes more price inflation, a vicious circle, which will cause more stock market crashes and who the hell knows what else could happen Oh my God where's my Starbucks latte I hope you're into gold stocks and drive an electric car."

   When further asked, "Is this really about bird flu?" Ms. Abend said, "The dollar is projected to rise, stock prices are projected to fall, the Internet will clog up, ATM machines will run out of cash, oil prices will go up, armored cars will run out of gas trying to refill ATMs, people will jump over the bank counter with loaded guns demanding all their money instead of the $500 limit, the price for a loaf of bread will hit 23 million Federal Reserve Notes printed on only one side to save green ink and anybody with any brains will have jumped into bullion and gold stocks a long time ago as in before yesterday." -- FM Duck

        back to top...

 

               Home • Up • About us • Contact • Glossary • Links


freemarketduck.com   all contents copyrighted 1994-2014   Free Market Duck tm   all rights reserved