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Today's quote:

Friday, July 24, 2009

It's all put back on ice again

This clip dates back to August 2007 before the interbank markets started locking up. It wonderfully highlights just how lunatic the Icelandic banks were.

Has anything changed? No! As Dr. Marc Faber said, "By keeping interest rates low the Fed [US Federal Reserve] is forcing people to speculate on something."