11 responses so far ↓

• max keiser

  Apr 15, 2009 at 1:40 am

  

  We made “Rigged Markets” for Al Jazeera three years ago.
  part 1
  http://www.youtube.com/watch?v=8z66kmPRl5Y
  part 2
  http://www.youtube.com/watch?v=_3H6uEyR66M

  In the introduction to part 1, I mention 16 different banking scams that were being utilized by ‘banksters’ to defraud the public.  Since then, a few have been uncovered like naked short selling.  But the vast majority of techniques used by crooked bankers at the Fed and on Wall St. and the City of London continue unchallenged.
• Martijn

  Apr 15, 2009 at 2:03 am

  

  Chech out this great blog on the blatant lawlessnes at Goldman: http://www.goldmansachs666.com/
• max keiser

  Apr 15, 2009 at 2:23 am

  

  More on GoldmanSachs; price manipulation justified by “national security.”  Having designed price discovery technologies used by the likes of Cantor Fitzgerald and having been an observer for 25 years of markets and the bankers who trade on them I think I have a pretty good handle on identifying when markets are being manipulated but in all these years I have never come across a market like the gold futures contracts that trade on the Comex in NYC in terms of outrageous, outright market rigging. And here’s the rub, the people doing the price fixing have convinced themselves – and the country – they are doing a public service in the name of “national security.” 

  You see, if gold were allowed to trade based on the overwhelming demand for it around the world, bankers would have to get real jobs.  As long as the price of gold stays low, the world will be told every day on corporate and bank owned media outlets that the experiment with holographic currencies like the U.S. dollar is working – obviously because if it were not working the price of gold would be at $3.000 today. 

  The problems Americans face staying out of debtor prison have nothing to do with the issuance of trillions of ponzi claims with pictures of dead presidents we are told. Rising unemployment, starvation, infant mortality are signs that the system is working by rewarding the ‘hard workers’ at the banks and punishing those lazy union workers we are lead to believe.

  If gold were allowed to rise to the price that reflect its true supply/demand curve where would the Pentagon get the billions it needs to fund its overseas occupations? How would Americans afford gas if the price of gold were allowed to rise to its true market clearing level forcing down the dollar and driving up prices for commodities like oil that are mandated to be trade exclusively in US dollars at artificially, environmental-holocaust prices?

  Yes, if gold were allowed to trade freely we might all suffer the consequences of living in an economy bound by a finite money supply where the only way to make a huge fortune would be to innovate – instead of living in an economy where the the easiest way to make a fortune is to incinerate all we thought we knew about supply/demand, freedom and democracy.
• max keiser

  Apr 15, 2009 at 2:28 am

  

  Listeners to our radio shows and viewers of our documentaries know that we took the position more than five years ago that the accounting fraud and market manipulation perpetrated by the likes of Goldman and JP Morgan were bigger than anything anybody had seen on Wall Street in 100 years and that it was going to be almost impossible to stop them because they had essentially taken the US justice system and regulatory system hostage using the gains from their illicit trading to buy America’s government as easily as buying 1,000 shares of Cheese Cake Factory (NASDAQ: CAKE).   Now studious minds like Barry Ritholts over at ..  are connecting all the dots.  Will prosecutorial action be taken?  No. America is like Argentina circa 2001. The party is just getting started.

  http://www.ritholtz.com/blog/2009/04/how-to-puff-up-earnings-goldman-sachs-style/

  http://zerohedge.blogspot.com/2009/04/blackrock-confirms-goldman-q1-profit.html
• Danny

  Apr 15, 2009 at 5:40 am

  

  Max, i’d like to know your opinion on Mike Rupperts argument that all this looting of the hen house is tied into peak oil and the end of the age of hyrdocarbons…
• Dan

  Apr 15, 2009 at 6:23 am

  

  Max: I’m sure you’re familiar with Martin Armstrong, formerly of Princeton Economics and now in jail… He’s a well known cycle analyst and technician.

  He has a new article about his views on Goldman and The GS conspiracy… It’s good reading. http://economicedge.blogspot.com/2009/04/martin-armstrong-behind-curtain.html
  —-

  Danny: I don’t buy the peak oil nonsense. Mainly because history shows that the oil industry has done everything possible to underproduce oil resources; that is, they prefer to keep oil in the ground when possible. For example, most of Iraq’s oil fields are not only untapped, but unexplored. Ditto for Iran, which requires over $200B of investment into its domestic energy sector(notice that despite their lack of a viable nuclear program we threaten to bomb their oil fields and UN sanctions effectively means no foreign investment).

  How much of their revenue have the major IOCs reinvested into exploration? It’s an astonishingly low percentage. The less oil the market thinks there is, the higher the price. Oil companies aren’t in the business of producing oil; they’re in the business of making money.

  Greg Palast calls what is upon us ‘political peak oil’, which is to be distinguished from ‘geological peak oil’.

  I’m not saying that geological peak oil doesn’t exist… I’m agnostic. But, if it IS a reality,  I just don’t believe it’s upon us yet. Not even close. The truth is that, despite the claims of people like Jim Rogers, we’ve got plenty of oil. IMO
• Danny

  Apr 15, 2009 at 6:47 am

  

  @Dan

  yeah, its a sticky one (no joke intended) i follow mike ruppert and william engdhahl. both are extremely smart and make incredibly convincing arguments on either side of the debate. Haven’t read his new article on Obamas visit to Turkey begging for oil pipelines. Man, its crazy all the different info flying about- its enough to fry your brain!!

  Is there anything gospel in this world!!!???
• Mr Supergeek

  Apr 15, 2009 at 8:33 am

  

  Gold!
• Danny

  Apr 15, 2009 at 9:04 am

  

  @ Mr. Supergeek

  yeah, GOLD!!! I’d forgotten that- even after i’ve bought a load of the stuff. i’m all muddled up today, didn’t take liverpools defeat last night too well
• StephenLV

  Apr 15, 2009 at 12:55 pm

  

  This video is nothing more than BS IMHO. To say this ongoing Worldwide problem is because some paid others too much is pretty naive. Some would argue paying these bankers even a dime is overpaying them.

  A typical diversion tactic of crooks is to use a patsy…the executive pay deal is a patsy. Bernie Madoff is a patsy. GS is a patsy. The problem is the system is rotten. Pointing to the maggots is just pointing to maggots.
• Don

  Apr 15, 2009 at 4:51 pm

  

  They are just pigs at the trough. They  will keep on gobblin’ it down until the farmer comes and puts an end to the pig’s life. Watch out piggies, the Farmers will have their feast too! And We will invite the neighbors.

  The irony is they pretend that we need them. Ha! We don’t need greedy, lying corruption of our markets and our government.  We don’t need you piggies! But you sure as hell need Us! Keep biting the hands that feed and those hands will rise up and smote thee down.