Sweden takes sides in the epic battle of Savers vs Speculators

July 2nd, 2009 by stacyherbert

Stacy Summary:  I think we will have to get Dr. Michael Hudson on the show asap re: Sweden story as I suspect it may have something to do with the massive exposure to the Baltic region.  It would be truly amazing if it were Sweden that ended up going under before UK.  I think this a tip of the hat to Mike2liverpool?  And @all thanks for the hundreds of links in the comments, you are keeping Max very very busy and entertained that’s for sure.

Tags:   91 Comments

91 responses so far ↓

  • Mini US
    Jul 3, 2009 at 5:29 am

    Hey ME.
    Whats the name of that new fecal religion?
    That can be lucrative too.
    People will follow anything!

  • Mother Earth
    Jul 3, 2009 at 5:33 am

    @mini us Eh..The Order of the Other Orifice? Batizement does carry risks..

  • Mini US
    Jul 3, 2009 at 5:35 am

    @ Mother Earth
    Hahahhahaha

    O.O.O. – I’ll just go swimming at Bondi and I’m in, thanks.

  • Giuseppe Bagodonutti
    Jul 3, 2009 at 5:47 am

    Coffee Art, Fecal Invasions, and Swedish Banking rates…

    there is a connection here…

    Areolae…
    hairy ones…

    So the Hutterites don’t need to have their photo taken for Driver’s Licenses and Muslim women can wear a veil to the voting booth?

    THAT’S IT
    I’m going to get a giant plastic pumpkin and wear that on my head next time I get my photo taken or vote…
    Cuz it’s my religion… I’m a Halloweenie…

    as well, I am an official POEE Priest of the Sacred Chao,
    FNORD…
    My God is sexier than your God…

    Long Live the Poop Pipe…

  • stacyherbert
    Jul 3, 2009 at 5:48 am

    @all – okay; since y’all keep talking about the poopies and you are expressing a wish to go long on it, I have created:

    The Crap and Trade System

    What do you think?? Are you in?

  • Palantíri
    Jul 3, 2009 at 5:48 am

    @chris – it means if you want to deposit money in my central bank you need to pay me 0.25 % interest from your own money.

    Norway and Sweden were not one country but a union of two separate states with a common monarch (I think it is called a Personal Union)

  • Mini US
    Jul 3, 2009 at 5:52 am

    @ Stacey

    Sure thing.
    Would it be like coal and Iron Ore?
    ie degrees of grade quality
    or just straight cash(toilet paper) for goods?

  • Mini US
    Jul 3, 2009 at 5:55 am

    @ stacyherbert
    Sorry about the ‘e’

  • Danny
    Jul 3, 2009 at 5:56 am

    Have y’all been at the stoney bangs or what with all this shite talk!?

  • Mother Earth
    Jul 3, 2009 at 6:00 am

    @stacey But,but, I was all set for the baptizements..Holy crap!, this way I’ll never be a messiah!

    Does that mean that if I prevent shit from happening I get crap credits? What about bs in the media..

    Tradin’ on the CRAPEX, drivin’ me Maserati, forgin’ me CCO’s ;-)

  • Nick, Dublin
    Jul 3, 2009 at 6:00 am

    I hope my parents arent an indicator of voting sentiment in regards to Lisbon but I fear they are. 50s, middle-class, always vote & heading for retirement. First time out they were strongly in the no camp. Like the majority, they saw through the spin of the mainstream parties. But that’s all changed in the last year. Now they’re scared, and scared little PIIGies dont act rationally.

  • Mother Earth
    Jul 3, 2009 at 6:04 am

    @stacy and my e as well..

    Maybe I can do a report from the locus crapii on the parallels between crapology and keynsian economics..

    By the way, You are all blessed..

  • Youri Carma
    Jul 3, 2009 at 6:09 am

    Now I come to think of it, not to toot my horn here, that I predicted this negative interest rates as somtin banks would gonna do and they are doing it right now.

    Be ware that if you don’t think your bank charches you with negative rates it’s just because instead they call it “administration” costs.

  • Mini US
    Jul 3, 2009 at 6:09 am

    @Max Keiser
    Can we just list ALL BANKS (except for Karma Banque) on the Karma Bank register?
    Lets just buy assets like gold and oil, like the Chinese and boycott banks.
    Peter Schiff says that people in the US should just stop paying their mortgages.
    Bring it on guys. Lets go for the top. Then Coke, etc will follow!

  • Mini US
    Jul 3, 2009 at 6:16 am

    Imagine the new bankless and governmentless world with Mother Earth as our spiritual leader.
    o.o.o. Forever.

  • Giuseppe Bagodonutti
    Jul 3, 2009 at 6:19 am

    Speaking of the Chinese,

    They are throwing $1.74 BILLION at Teck Resources (a Canadian Mining company with ugly debt)

    they’ll be taking a 17.5% stake in the company now…
    I wonder if they are paying for it with American Treasury Bills ?

  • Mini US
    Jul 3, 2009 at 6:27 am

    @Max and Stacy
    Mad mad idea.
    Could Max go back?
    I mean go under cover?
    Get a job at Goldman Sachs and destroy it from the inside.
    Be a Rogue Trader or something.
    I guess jail is the downside, but he’d be a martyr.
    We’d all come visit.

  • M
    Jul 3, 2009 at 6:33 am

    The Crap and Trade index: sell shit for toilet paper.

    Would be better than the markets we have operational nowadays. More understandable also.

  • RedZebra
    Jul 3, 2009 at 6:40 am

    @Mini US,
    unfortunately, Goldman Sachs is “too big to fail”

  • Mini US
    Jul 3, 2009 at 6:46 am

    Yeah, I hear ya redzebra.
    No matter what Max did they would survive.

    BTW I love that image on the Gulag Wealth Fund link on this page.
    The statue of liberty firing a tazer gun.
    Cooooool

  • Giuseppe Bagodonutti
    Jul 3, 2009 at 7:00 am

    Goldman Sucks may be “too big to fail”
    but they aren’t bullet-proof…

    I just found out yesterday that Mark Carney,
    Governor of the Bank of Canada,
    is ALSO GS alumnus

    (From Wiki)
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Before joining the public service, Carney had a thirteen-year career with Goldman Sachs in its London, Tokyo, New York and Toronto offices. His progressively senior positions included co-head of sovereign risk; executive director, emerging debt capital markets; and managing director, investment banking. He worked on South Africa’s post-apartheid venture into international bond markets, and was heavily involved in Goldman Sachs’s work with the 1998 Russian financial crisis.
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    these goat-blowers are ubiquitous…
    how many other countries have they politically infiltrated?

  • TheBlackSwan
    Jul 3, 2009 at 7:03 am

    Hi Max ‘n’ Stace

    Negative interest rates eh,… the banks only hold fractions on deposit as it is, charging savers is akin to shooting yourself in the balls, near suicide. These actions could lead to the mother of all bank runs

  • Scott from Oregon
    Jul 3, 2009 at 7:05 am

    Crap and Trade!!

    You mean I can print my own money!

    Cool.

  • Giuseppe Bagodonutti
    Jul 3, 2009 at 7:09 am

    how would OPTIONS be traded on the CRAPEX ?

    I’m offering a 16 sheet, 2-ply quilted option,
    that expires at 9am PST

  • Mini US
    Jul 3, 2009 at 7:19 am

    @ Giuseppe Bagodunutti

    Well the leader of the current main opposition party in Australia also worked at GS. So, if he wins the next election after being only 25% in the polls you think there may be a smelly rat?

    @The Black Swan
    Karma Banque the banks and short them. Its a winner (except for the ones that can’t fail of course)
    Oh hang on, thats probably Golman Sachs’ plan too. To remain the last bank standing!
    Oh, and the world may be sick for a while as well.

  • Mini US
    Jul 3, 2009 at 7:23 am

    Hahahahahhahaha
    But then there will be Green bloody shoots!!!!!
    So everything will be OK again!!!!!!

  • Fibon1123
    Jul 3, 2009 at 7:26 am

    Cant post comments for some reason?

  • juergenwahl
    Jul 3, 2009 at 7:31 am

    Crap and trade? How wonderful – I’m all for it!

    “The Outhouse of the Rising Sun”
    by Asha Holla
    performed with no success at all by Nelly Turdfarto

    An outhouse stands in New Orleans
    They call The Rising Sun.
    It sits upon a pile of crap
    Which, I’ll bet, weighs a ton!

    This outhouse is an awful place
    Built from the wage of sin.
    When poor folks go to take a dump
    They’re never seen again!

    The pit is filled with noxious fumes
    That have a sul’frous smell.
    They say if you should slip and fall
    You’ll slide straight down to Hell!

    One day my father went inside,
    To pass a plate of beans:
    His body filled with so much gas
    It ruptured at the seams!

    My mother liked her cabbage boiled,
    It caused a lively sound,
    They rushed her, fizzing, to “The Sun” –
    She nevermore was found!

    And I’ve had too much spicy food –
    I’ve really got to “go!”
    But one step through that half-moon door
    Will mean the end, I know!

    [Crap n’ Trade insert:
    Economists thought Crap ‘n Trade
    Would end the evil spell,
    Then when they got knee-deep in filth,
    They couldn’t stand the smell!

    The money folks said “Tax and Spend
    Will solve all of our fears,”
    But when the Piper claimed his due
    They were deep in arrears.

    There is an inconvenient truth:
    When Finance calls the shot,
    Production withers on the vine,
    And we’re flushed down the pot!]

    You may think you’ll avoid this fate
    By exercising care.
    But on some rumbling, bloated night,
    You’ll find it everywhere!

    So mothers please warn your daughters,
    And fathers tell your sons:
    “High tail it fast from New Orleans
    If you have got the runs!”

  • Palantíri
    Jul 3, 2009 at 7:44 am

    @TheBlackSwan – it is the deposit rate to the Central bank not ordinary banks. Ordinary people and companies do not deposit in the central bank, only banks do (exceptions only in special cases). The rate in an ordinary bank may be very low but it is not negative yet. However it is probably lower than the inflation rate so the money you have in the bank will lose its value anyway so go buy gold with it if you can. http://www.dailymarkets.com/releases/2009/07/01/riksbank-cuts-key-rate-offers-sek-100-bln-loans-to-banks/

  • frances snoot
    Jul 3, 2009 at 8:06 am

    @ Guiseppe:
    I’m in. Halloweenie that is. :) I like sexy gods. If you all want religion, watch this:
    http://www.youtube.com/watch?v=yuuMOvy1KNE

    Why do the new gurus always look like the old gurus? I thought we were getting change! :(

  • frances snoot
    Jul 3, 2009 at 8:07 am

    @STACY:
    Definately, bring on crap and trade!

  • Don
    Jul 3, 2009 at 9:26 am

    I had my concerns about refi with Wells Fargo. The whole deal sounded great as long as I could get a lower rate than what I have at present, and the worst part of the deal was WF wanted to fold all my back due payments and penalties into the note and refi the whole amount. I have only had the home for 4 years so I have no equity. If I go with WF’s deal I will end up owing more than the original loan at a a higher rate of interest. wtf?

    I just want my savings back, my job back, a fair return on my investments, my rights and my f@cking country back.! So I hope to default on all the “credits” as credits are not money, and therefor do not exist outside of the either zone.

  • WL
    Jul 3, 2009 at 11:40 am

    Goldman Sachs connections…Put on a pot of coffee…This is s blood sucking squid..They run the globe.

    http://www.muckety.com/Goldman-Sachs-Group-Inc/5000806.muckety

  • R Andersson
    Jul 3, 2009 at 11:47 am

    “Sweden cuts rates to NEGATIVE .25%”

    This is obviously based on some kind of misunderstanding
    and poor research.

    Facts: Sweden cuts rates from 0.50% to 0.25% (positive)

  • stacyherbert
    Jul 3, 2009 at 12:14 pm

    The repo rate is .25%, the deposit rate is -.25%

  • sharon
    Jul 3, 2009 at 12:40 pm

    @WL……………”Goldman Sachs connections…Put on a pot of coffee…This is s blood sucking squid..They run the globe.”

    Know any hitmen you could pass that list of GS directors on to?

  • Karl Fitzgerald
    Jul 3, 2009 at 7:59 pm

    HI Stacy,

    love cycling with your show buzzing my braincells. You may be interested in my most recent Renegade Economists podcast, where Hudson defines globalisation and the banking – real estate nexus in his standard rapid fire manner. He defines why the US economy is beholden to the banks and discusses the Eastern European fiasco. Check last weeks interview with him too.

    Download Hudson on Grand Theft Monopoly

    Read show notes

  • Ah.Nix
    Jul 4, 2009 at 7:37 am

    Love the Crap and Trade, it’s ….craptastic!

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