Stacy Summary: Great Bloomberg headline in that it pretty much sums up the neo-liberal reality – catastrophe for workers is catastrophe averted for bankers & corporations. The problem with operating a giant global ponzi scheme with this paradox, however, is that the ponzis at the bottom of the pyramid need to earn something eventually to keep the debt bubble going.
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Posted in Headlines
Tagged corporate profits, financial system, imf, ireland, job cuts, unemployment
Stacy Summary: This is a clip of an interview we did with Jon McClure when he was in Paris promoting Mongrel’s new album. This didn’t make it to air because this episode of the Oracle ended up being the tightest for time because we also got Joseph Stiglitz and Jean Paul Gaultier at the last minute.
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Posted in Max Keiser Video
Tagged davos, jon mcclure, max keiser, mongrel, reverend and the makers
Cross-posted at HuffingtonPost
This is what we know: The fractional-reserve-banking-enabled, Fiat-currency-assisted credit derivatives bubble that grew 10 times larger than Earth’s GDP has popped.
And the collapse of this greatest global Ponzi scheme since the South Sea Bubble has taken world markets with it. It has destroyed pension funds and wiped out banks across the planet. Economies have screeched to a standstill. Trade has collapsed. Fifty million have lost their jobs. A hundred million have been pushed into hunger.
This is what we don’t know: when, or if, the banking bailouts, money printing and other wealth transfer schemes will stop.
In America, the people are mad as hell and they aren’t going to take it anymore. Or that’s what you would think if you tuned in to any cable channel spewing the new populism.
The Wall Street Journal is reporting, however, that all that televised “populism” is a whole lot of hot air: “Today’s populism has created no large scale protests in the US.”
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Stacy Summary: Of course, Max has been saying this for more than a year now, and Paul B. Farrell at Dow Jones Marketwatch has caught the Max meme:
The beauty of prosecuting a conspiracy under RICO is that the conspiracy is a separate crime. And all members may be guilty of conspiring to commit each crime in pursuit of the conspiracy’s overall agreement. RICO’s list includes: Fraud, extortion, embezzling, theft, gambling, money laundering, bankruptcy, securities violations and obstruction of justice.And right now, that may even cover bankers “cooking the books” using taxpayers’ TARP money to generate doctored, phony earnings to deceive investors. And hidden behind the individual crimes may be a collective act of treason to take over control of the American economy as the moneyed “superpower.”With Henry Paulson at Treasury earlier, Goldman Sachs had absolute power, with the absolute backing of the party then in control of Washington. Flash forward: Now, with all their people, programs, lobbyists and connections left behind like landmines inside Washington’s new administration, the power of the “Goldman Conspiracy” may now be absolute, as in Lord Acton’s historic warning that “power corrupts and absolute power corrupts absolutely.”
Max saying the same thing in his own inimitable way:
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Stacy Summary: Looks like the taxpayer and other little guys continue to lose, while bankers conspicuously escape any risk to their own net worth.
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Posted in Headlines
Stacy Summary: As Max says, “this is a fraud crisis”
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Posted in Headlines
Tagged aig, criminal acts, deutsche, fraud swaps, jp morgan, lehman notes, smithfield, swine flu, ubs
At around 10 a.m. EDT, a Boeing 747 was seen flying low over the southern tip of Manhattan and at one point was seen circling the Goldman Sachs Tower in nearby Jersey City, N.J.
The U.S. Defense Department was conducting a “photo op” that involved deploying two F-16 fighter jets escorting the 747 in the vicinity of Lower Manhattan and the Statue of Liberty, said Federal Aviation Administration spokesman Jim Peters.
Update: Employees at Merrill & Goldman were evacuated
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Stacy Summary: Cash is King in a global debt collapse and the debtor nations & other nations beholden to oligarchs are pleading with the Chinese & Brazilians to give them more money.
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Posted in Headlines, Max Keiser Audio
Tagged brazil, china, emerging economies, imf, imf bonds, pay cuts
Stacy Summary: A compilation of clips from Max’s appearances on France 24 & PressTV this week.
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Stacy Summary: When the Queen announces how much she costs the taxpayer, the palace recently began qualifying that cost on a per person basis. So, in 2004, she only cost 2 pints of milk per person. I think our banking royalty (and that’s what they are until we decide to revolt against it, which we haven’t), should do the same for the peasant taxpayers that finance their lifestyles. It might help Timmy Taxpayer if he knew that Lord Banker Such and Such cost a pint of beer while Lady Hedge Fund Crook cost a glass of champagne.
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Rick Ackerman
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