Find this show forever here at Archive dot org
Tags: max keiser · resonancefm · stacy herbert · the truth about markets31 Comments
April 25th, 2009 by
Commercial Break
Social Networking
RADIO
Commercial Break
Best of rest
Virtual Currencies
Price for US/Israeli Overt Air Strike against Iran (Rule 1.8 Applies) at intrade.com
The contract ID of this contract is: 667576USD Index
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
USD Gold
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
USD Silver
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
GOLD: OTHER CURRENCIES
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_caoz_2.gif)
-
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_euoz_2.gif)
-
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_bpoz_2.gif)
We use
Stacy
You know the Russian revolution was by the teachings of MARX……Do you think this one will be the teaching of MAX?
BTW
lease can we have a forum like Itulip?
Hey Max, as much as inflation is an increase in money supply, I tend to disagree that we will see high levels of inflation. Under normal circumstances you would be correct, but due to the massive size of the world debt the creation of money is being created to fill this black hole and even if all the printing presses in the world went to full production they still wouldn’t fill the hole.
This creation of money is a creation of real wealth only for the banks and their selected few. This money will not filter down to the people and therefore will not contribute to the money supply.
The losers are the people who work hard, save for a rainy day and hope that one day they will be able to retire with dignity.
The people need to believe that they still hold the power of numbers and enough is enough.
Great show this week. Cultural narratives and whatnot. What station (and when) are you guys going to be on in New Zealand?
@Stacy & Max,
If every region has a fiat currency, {and the Central Banks have agreed to non-competitive devaluation (the Bank of Canada just announce on friday,that they will engage in quantitative easing as their next step to “stimulate” the economy!)} what are you going to sell your gold for when the price spikes?
Max makes a good point. The media have ground rules which are now well known: 1.) If you organize a peaceful protest, we won’t cover you or we’ll underreport the significance of it. 2.) If you do something violent you’ll get much more coverage!
A perfect example of this is the Unabomer case. Anti-technology radicals couldn’t get anything published in major newspapers. But once Ted Kaczynski had killed three people, he was allowed to publish his anti technology manifesto in the Washington Post & NY Times.
Way to go guys, great show. I loved that bit about how people are experimenting with their protesting, that they are practising, getting their feet wet… cause for the average person it is a difficult process. And I like how you are encouraging that, cause one of these days there will be a spontaneous combustion by the public which will burn these global bankers down; so keep blowing on those embers, they are beginning to glow.
If you guys ever have the energy, do an extra show; I think you inspire more people than you are aware of.
Oh, one last thing, I was glad you came up with Ho Chi Minh, who was a kitchen helper or waiter at the Carlton Hotel… anyway, I was shouting the answer out and woke up my napping neighbors.
@William
Haven’t you been paying attention brother? Gold will always trade for chickens! Great question actually, for me, I think gold is sooo cool! I am an amateur prospector so I am always looking for gold.
On the other hand food is the most sacred thing next to clean air and clean water. Try doing with out air for 10 minutes—yer dead. Try doing with out water for 5 days— yer dead. With out food you might make it 40 days, but watch out on that 41st day, cause, you guessed it —yer dead!
Organic seeds, food and food storage ability like 100 Ball canning jars with extra lids, may well be worth their weight in gold. Equally important and more valuable than gold is knowledge. I have learned how to make soap, jerky, emergency shelters, perform field surgery, field dentistry, and basically survive in all environments. What can be eaten in the wild? what should not are two very important questions when faced with the decision.
if you examine the human rights, health, and environmental situation in china, it does not at all seem like they wouldn’t kill their own people.
in fact, they are already doing it and have done it before.
War machines if not used to steal peoples wealth for a few, create no reward for its citizens long term. The system is rigged to strip mine all the benifits of earth for a few crime families. Sounds like we are plantation workers all over again. If I can’t make a decent paycheck then how can I donate money to the impoverished of the world?
I am tired of making rich people richer. The rich will never voluntarily give up a cent, they are too busy treating me like a natural resource, polluting my water, and pushing the costs of polution on future generations. A wrench needs to be stuffed into this machine. The laws need to be geared so that when I vote for a candidate, that I can still give a powerful progress report during the duration of it’s reign. 4 years for change without oversight isn’t enough power for the people. Revolution, puting another murderous leader in its place isn’t the answer. If we put a leader in office then every quarter they need to come to a commitee of citizens that are different each time and answer for the desisions they are making. People have no say in the desisions made nowadays. This is why leaders are usually rich and in the pockets of the richest people. Some elitists have desided that people are just serfs.
@Don(Joe bag of chickens)
I agree with you. Gold is the soundest money on the planet. The big lie is paper currency. (originally
receipts for gold) However, I hear people talk about gold like it’s an investment which they are going to sell later; when everyone is buying into the mania. Max mentioned it on the last show: stage three; when the price skyrockets, he’s “cashing in”. But if everywhere is Meimar Germany, what cash are you gonna get for it?
I think there’s the assumption that it will turn out like the 70’s&80’s. That the central banks will jack up the interest rates like Volker, and save paper money. I think it’s doomed. I also think that’s the underlying problem isn’t Capitalism; it’s Moral hazard. What keeps the balance in Capitalism is the risk or fear of losing. Right now, there are no consequences for peoples actions. The last clip of Max in a debate, the lady mentioned that it’s capitalism that creates the booms and busts. That’s wrong. It’s the Central Banks; which have been getting a free ride and stealing peoples money through a tax called inflation. The central bank warps the market. Capitalism is supposed to be based on savings and production. What we have now is Debtism. When you put up Capital, there is risk; when you put up debt, easy come easy go.
But I agree with you Don. I have Gold and Silver bullion and coins. I have seeds. I even have guns.
And I am trying to gain knowledge. That’s why I enjoy Stacy’s and Max’s insights.
Stacy,
Re: the French and their attitude towards debt: does that mean that French people aren’t confronted with credit card pushers at checkout counters every time they buy something? (Just about the only thing I can buy here without someone asking if I want to open a credit card account is food. There’s never a shortage of people trying to help us Americans dive deeper into the debt pool.)
About the differences between France and the US/UK, you nailed it when you mentioned security. Max hit on another important distinction (in one of your Tweetcasts, I think), which is a stronger democracy. One of the most crucial common denominators that societies with a strong democracy and a strong sense of community share is a strong labor movement. So it makes perfect sense that democracy-hating Republicans in the US demonize unions, the French, and Europeans generally. They want us live in fear of each other, hate all who they label as “others,” and feel so isolated and miserable that we help their buddies get rich by subjecting ourselves to their chemical straight-jackets when we inevitably fail to recognize what’s missing from our lives and allow them to convince us that it’s “depression.”
There’s one reason and one reason only that Republicans warn of the “Franceification of America”; why at the RNC, they shouted about their “concerns that Obama had brought back dangerous ideas from Europe”: they don’t want the sheep to realize that our country is very inferior where the social good is concerned. And they don’t want us to expect/demand any better. The sheep don’t realize that the US has been in decline since the 70s. Don’t realize that no small part of the reason that the family, as an institution, is in trouble and our social fabric so frayed is that we work longer hours to make less money and actually spend something like 25 fewer hours per week with our children than parents did in the 60s.
There’s another angle, too, that fits in with your ongoing “surveillance/police state” commentary: societies that buy into the cult of individualism are much, much easier to control. One of my favorite contemporary sociologists, Philip Slater, wrote a piece on this topic recently over at the HuffPost. It’s worth a read, I think:
http://www.huffingtonpost.com/philip-slater/why-individualists-are-mo_b_173947.html
(Slater also wrote a fantastic book on American individualism called “The Pursuit of Loneliness.” It is one of my favorite books, so I don’t mind shamelessly pimping the title for anyone who might be interested in reading it.)
Keep up the good work, girl. (You, too, Max.)
Great show..
Music copyright extended to 70 years…The new legislation will be under review for three years..
http://www.europarl.europa.eu/news/expert/infopress_page/058-54192-111-04-17-909-20090422IPR54191-21-04-2009-2009-false/default_en.htm
Forgot to mention that I watched “Enron: The Smartest Guys in the Room” a few days ago (available for online viewing for Netflix peeps), and wanted to say kudos to Max for working on the street and leaving with his conscience in tact. It was pretty frightening to watch that documentary and consider that the Enron culture and way of thinking is likely transferable to all of the banks that countries are being forced to bail out currently.
China is nothing without the US, gold or no gold.
The US would never allow for china to make all the consumer crap without making all transactions in USD, now they hold USD and they have to stay quiet or they will be go back to the stone age! The US is bored with manufacturing, it is an old hat that’s why they are not good at it anymore. Americans like to gamble and speculate it is more exciting. That’s why when americans lost trillions it does not matter. People expect to lose. I don’t see any riots!
@Mep
In Niall Ferguson’s segment on Enron in the documentary “The Ascent of Money” an interviewed ex high up in Enron indicated that’s what had been occurring since Enron went down ie. all the “creative” accounting techniques had migrated to the firms the ex-Enron accountants were now employed at…
Chinja may actually be free to increase their own standards of living more vigorously w/out the benefit of selling as many products to the US who obviously aren’t good for the ‘real’ money. They will be affected of course but better off in the long run.
China had no choice then to play along with the big boys just like russia. I hate when they play capitalist and then back stab the US like 2 faced sheisters.
Nice chat .. Thx.
Glad you mentioned Tony Blair .. I dislike him to say the least.
You may also have noticed that ex-Chancellor Schroeder now works for a GazProm subsidiary …since leaving politics.
No questions raised ? .. considering the number of Germans that are now complaining about high gas prices after being suckered in to change from oil .
yeah, i’ve been begining to think for a while now of earth and specifically the human culture on it as just this pool of dynamic slush in which competing narratives, explicit or implicit, compete for pull, tending the direction in one way or another…was nice to hear some sort of socialogical analysis from you two, the academic sphere being kinda dry from where i’m sitting at the moment….
One thing is obvious if you live in london the number of french/europeans people moving to the uk has increased every year with the biggest jump in the last three years.
The same reasons being cited by the french today are the same as say back in 1960 racism, as well as reasons such as france being introspective, cliquey and generally stuck in a rut. Also the large increase of anti semetic attacks on jews and jewish property has led to an increase in jews emigrating to israel (somehow feeling safer in a country at war). It’s fair to say that from about 1995 the dissillusionment felt by frances immigrant population and the racially tolerant younger generation has been added to by the the young professionals who feel the country isn’t able to serve people with ambition or a desire for higher wages. I also noted with intrest the fact pointed out on france24 unions seem to be almost non existent in france compared to the rest of europe,
The romantic ideals a lot of americans and europeans felt about the french rebellious spirit may have held true for a brief period in the 60’s but judging by the sheer volume of young french ‘hep cats’ in london times have changed and france is feeling ‘the fear’ more than most countrys. I think Max and Stacy summed up the problem really well fear/obsession with money and food to the point where you feel fat and scared to spend any money can’t be much fun. There a lot of things wrong with the uk but we do know how to enjoy ourselves. So for the average young french or european I imagine the prospect of being able to live in london in a racially mixed open relationship and joining in one of the biggest multi cultural party scenes in europe must be hard to resist.
Very good program. However, I was somewhat confused when you said that France are good at revolutions. They may well be, but don’t forget that the men behind the curtain were well behind the French revolution; the instigated it. This then makes me wonder how much control France has over its own destiny. Clearly the men behind the curtain pulled the strings back then and I don’t believe they then gave up or lost their influence. So where does this leave France?
Very interesting.
Just wondering if you have cash and inflation goes up, don’t interest rates follow soon after. Therefore, you earn more interest? I guess you do lose half of that as income tax on earnings. Do earnings on gold incur capital gains tax?
Ah, they’ll get ya anywhere you turn, Ha!
Max and Stacy;
This is in connection to your comments about the “privatized prison systems” ;
***
Guilty of Being Poor
Welcome to the debtors’ prisons of the 21st century.
“Edwina Nowlin, a poor Michigan resident, was ordered to reimburse a juvenile detention center $104 a month for holding her 16-year-old son,” the New York Times wrote in an editorial.
“When she explained to the court that she could not afford to pay, Ms. Nowlin was sent to prison. The American Civil Liberties Union of Michigan, which helped get her out last week after she spent 28 days behind bars, says it is seeing more people being sent to jail because they cannot make various court-ordered payments. That is both barbaric and unconstitutional.”
Despite her inability to pay, she was held in contempt of court and ordered to serve a 30-day sentence. On March 6, three days after she was incarcerated, she was released for one day to work. She also picked up her paycheck, in the amount of $178.53. This, she thought, could be used to pay the $104, and she would be released from jail.
But when she got back to the jail, the sheriff told her to sign her check over to the county — to pay $120 for her own room and board, and $22 for a drug test and booking fee.
Even more absurd, Nowlin requested but was denied a court-appointed lawyer. So because she was too poor to afford a lawyer and denied her constitutional right to have the court provide one for her, she couldn’t fight the contempt charge that stemmed from her poverty. And her contempt conviction only added to her poverty, as the fines and fees she was obligated to pay now multiplied.
“Like many people in these desperate economic times, Ms. Nowlin was laid off from work, lost her home and is destitute,” said Michael Steinberg, legal director of the Michigan ACLU. “Jailing her because of her poverty is not only unconstitutional, it’s unconscionable and a shameful waste of resources. It is not a crime to be poor in this country, and the government must stop resurrecting debtor’s prisons from the dustbin of history.”
http://dissidentvoice.org/2009/04/guilty-of-being-poor/
I love the idea of raising interest rates on huge sums of money and lowering them for common people. But Bernanke would disagree. Thats all they need to do to eliminate these revolving debt, leveraged buyout, Bear Stearns Northern Rock holograms.
I love the water, air and food time comparisons. Living in Canada affords lots of places to go once the sheep lose their minds. I love the BC wilderness. And I love the cold (born northern Quebec). I agree the need for things other than western comforts will be the “new currency.” You cannot eat an I Pod. Heirloom seeds, old world living books, self-defence, shelter, food, are just some of the things required IMHO. As for gold, I have it as a security for later. If reqiured, I would use it to acquire other items for survival. If there is anyone who HAS NOT seen ”Alone in the Wilderness” with Dick Proenneke, they should make an effort to do so. It is dated but a very good video to watch. If a sixty plus guy can do it, I would like to hope a good percentage of us can. Is it too much to ask to have clean water, some nice land and security? The only problem I can see is how in the hell am I going to get M & S in the middle of the bush. No “Fred Flintstone Cable Company” yet. Guess I will have to work on that on. Good luck to all.
There’s nothing like waking up on a Sunday morning,
brewing a pot of coffee,
and rolling some joints,
to Sit Down and Rise Up to
The Truth About Markets…
If people want to make a difference, would it not be wise to use the tools that the “oligarchs” use??
Max has taught the people how to use the rigged markets, and coupled with some basic investment knowledge, and some dedication to doing “homework”, one has great potential to benefit — at least in the short term.
After all, this system is mostly “mass-psychology”.
You have to learn to “filter” the “mass-media”, though…
My thought is, if everyone learned to work the market, then “pools” could be created (ala Karmabanque) to start using “econo-guerilla warfare” to affect the financial “hologram” for the greater good of all…
But how much money is required for an “econo-guerilla” pool to actually affect a stock?
And what about the MARKET MAKERS, (there are over 100 of them in the Canadian Markets)???
If they are allowed to “naked short” the stocks they are assigned to, how can we (i.e. the little people) go against them without a Margin account???
I seem to recall that someone was referring to a $1Billion pool for the Karmabanque attacks, but what is the BASE requirement for an “econo-arsenal”?
It seems to me that even $100k can really nail some stocks (at least around the $5/shr range)…
I imagine to attack a COCA-COLA or MONSANTO you’d need the $1Billion… or one helluva Margin account…
Hey Max, can you teach us more about Stock-Market warfare, from a more objective angle ?
And how we can use it at the grass-roots level to “RISE-UP” ?
(hypothetically speaking of course…. ;D )
Or would that entail “racketeering”?
remember “Silent Weapons for Quiet Wars”…
And speaking of gold, the general consensus seems to be that it is going to remain pegged at $900 +/-$50…
So I’d like to know WHAT is going to affect its price other than this Geo-Ubiquitous injection of digital dollars?
China’s Supply and Demand???
What about Palladium and Platinum???
The Chinese Copper rumour seems to have only created a “speed-bump” in its price…
If bankers can control the price of gold, what reason do they have to let its price go up???
Are they not “banking” on the general populace to buy gold?
Or are they holding onto that card for when the “fit hits the shan” ???
If you think the Chinese Food in Paris is suspect, you should check out the Italian Chinese Food joints !!!!
Spaghetti is no replacement for proper Shanghai Noodles…
And Stacy, if you’re looking for some good “forum” software, may I recommend phpBB.
http://www.phpbb.com/about/
It seems to be quite popular amongst the forums I’ve participated in (apparently easier to manage)
Today’s secret word is
DETRITUS
http://dictionary.reference.com/browse/detritus
France has its debt at 70% of GDP and rising. French want everything from their government for free. France is bankcrupt as well as UK. When US truckers protested that governmnt was limiting their driving hours (they wanted to work more), at the same time French truckers were protesting that they want government to limit their time of work (they wanted to work less)
Perhaps the gordon brown bottom in gold should have been known as the ‘Brown Put’!
Stacy said: “It’s called Real Security, the Network is more powerful than the Pyramid”. i.e. Different societies: Anglo-Saxon zero sum loss versus French network gain.
If China accumulated gold x2 then someone would have to have been selling or else the price would have gone thru the roof. Max even you couldn’t have caused this to happen in two months. It must have been Jim Rogers or Marc Faber moving to Asia more than a year ago. Or maybe with one billion people they have more than a few smart people.
I hope you will continue the podcast