Ireland’s Green Party wants debate on ‘bad bank’

Stacy Summary:  FINALLY!!!  The very first political party I have seen actually want to debate whether transferring taxpayers money to bankers is a good thing.  It’s too late for US and UK . . . so, hopefully, this debate in Ireland will happen.  PS – speaking of debates, I wonder where all those health care protestors were/are regarding the $13 trillion extended to bankers in the course of six months?  That’s over 100 years of single payer healthcare.

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Murder for ratings

Stacy Summary:  What crazy things can we do to boost the ratings of our show(s)?  Ideas in the comments section please!

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What do health care and mobile phone calls have in common?

Stacy Summary:  Fake capitalism.

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CDS fraud; and a market ready to tumble?

Stacy Summary:  No rest for the wicked.  Here, or it seems in the financial headlines.  And . . . @Danny . . . don’t do it!  You don’t want to start carrying around a banana, it attracts the monkeys.  Just ask  Max.  He gets harassed by them all the time.

“Ask yourself this: who bails out Government after they have bailed out everyone?”

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Dollar plummets . . . to major bottom? [Updated]

Stacy Summary:  The dollar is either imminent toast.  Or is it just a last plummet to its ‘major bottom’?  Maybe it will reveal more by the time we return in a week . . . yes, it seems we really are going away!  Just for a week and I am sure we will be posting new headlines here as often as we can and keeping up to date on comments.  Maybe one or two of you want to post guest headlines?

Update:

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Clear signs, credit contractions & European pirates

Stacy Summary:  First, @mike, dude, lay off the weed!  Ha ha.  Wow, you were on quite the ranting rampage last night.  Now, onto the headlines, I know Ambrose tends to exaggerate, but China is looking to me like it might be the ‘stimulus’ for the next leg down on this ongoing collapse of the global ponzi scheme.  Which brings me on to the next headline that the ‘stimulus is working’ . . . unless you exclude the government’s fake money which is only a transfer of wealth from the future to today.  And, that, brings us to the final bizarre headline about pirates seizing a Russian cargo ship.  The real world is sinking into a Mad Max like crazy place of pirates and fake pirates.  So the question is . . . anyone seeing signs of the ‘stimulus’ working at street level??

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Baltic downgrades and Goldman sued

Stacy Summary:  I recommend you follow all the related stories on ZeroHedge about Sergey’s lawsuit against Goldman.  I think there is the makings of a thriller in this story . . .

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Max Keiser: How the Gulag Casino Economy works

I was a guest of Alex Jones on infowars last week and Alex mentioned my ideas concerning the emergence of ‘casino gulag state’ and a ‘casino gulag economy.’ I wanted to flesh that concept out a bit. Admittedly, some of my forwarding looking finance and economics ideas might look like I am contorting reality a bit, but not if you put yourself in the position of looking out from inside the financial engineering minds of the world’s investment banks and technology innovators. In a fractional reserve managed, fiat currency based global economy ‘money’ is as plastic and amorphous as any medium and can take any form that suits the interests of the powerful at the expense of the just.

The Casino Gulag model works as follows:

First, the huge debts incurred by consumers around the world and most particularly in the US and UK will continue to increase in size. The price of credit (interest rates) will never rise enough to change the behaviour of debt addicts plus, the Federal Government will, vis a vis the ongoing bailouts and restructuring of the public and private markets, transfer tens of trillions of dollars of unfunded pension and Medicare/Medicaid liabilities – that are now hidden from view due to ‘off the books accounting’ – onto the public’s balance sheet by selling these debts to America’s biggest creditors; China, Japan, and the Mid East countries.

America will be surprised to wake up one day and find that each one of them owes these creditors hundreds of thousands of dollars on top of the hundreds of thousans they alrady owe on mortgages, credit cards and cars.  Aiding in this ‘bait and switch’ will be the religious supremacists in America who will push a revisionist message transforming the meaning of the concept of ‘original sin’ to be interpreted as ‘original debt’ meaning that to be born into debt is to be disabused of any doubt of God’s (read: Visa’s) existence.

America already has the biggest and fastest growing prison population in the world and these prisons, like America’s various wars of convenience, are hugely profitable for the private prison operators here and abroad. Why not extend the prison brand and lifestyle beyond rap music and lopsided baseball caps to include all the amenities of the casino industry?

How?  The growing prison population; expanding due to law changes that will criminalize all late payments, will be given cheap online accounts and free gifts of dollars from the government to speculate on online casinos sponsored by the Golden Nugget and Goldman Sachs.

‘Justice’ will be in the hands of the prisoner who will not be collecting their winnings in the form of cash, but in seconds, days, and weeks lopped off their prison sentences. Losses will result in prison term extensions. ‘Justice’ itself will be taken public on NASDAQ; ticker symbol, JSTC.

The return of time for dollars, per this model, will be very profitable for the Golden Nugget-Goldman Sachs axis of prison gulag debt slave underwriters on Wall St.

Additionally, a gulag-casino reality TV show that features debt slaves winning their freedom with winning bets can add to the bottom line. As long as the MSM and gulag-casino operators push the idea that everyone in prison has a ‘fair’ chance of gambling their way out of prison, Americans will never question the underlying premise that the only way this works; the only way this model ‘grows’ the economy is to incarcerate everyone will never be questioned.

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GATA: Sensational “Brown’s Bottom”

Stacy Summary:  GATA took a look at our special summer documentary and had this to say . . .

But Keiser’s documentary may be sensational for getting an acknowledgement from the German central bank, the Bundesbank, that Germany’s gold reserves are actually in the custody of the United States. This is a detail the Bundesbank long has denied to others who have inquired and is potentially a matter of great controversy in Germany. It raises the question of whether the German gold reserves are actually intact at all or whether they have been used by the U.S. government as part of its long-time gold price suppression scheme or have been comingled and diminished with the gold reserves of other countries held in the United States.

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IMF: total cost (so far) of bailing out financial oligarchy is $3000 for every man, woman & child on planet

Stacy Summary:  And there is much, much more to come.   We’ve appeased the hostage takers once, they will be back for more.  Very soon.

The staggering total is is equivalent to around a fifth of the entire globe’s annual economic output and includes capital injections pumped into banks in order to prevent them from collapse, the cost of soaking up so-called toxic assets, guarantees over debt and liquidity support from central banks. Although much of the total may never be called on, the potential outlay still dwarfs any previous repair bill for the global economy.

The IMF calculations, produced ahead of the two-year anniversary of the crisis, underline the continually mounting cost. Most of the cash has been handed over by developed countries, for whom the bill has been $10.2 trillion, while developing countries have spent only $1.7 trillion − the majority of which is in central bank liquidity support for their stuttering financial sectors.

The IMF figures also show that Britain has been the biggest of all the spenders on emergency measures to support its financial sector, with its total bill for the clean-up amounting to 81.8pc of its gross domestic product − equivalent to £1,227bn.

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@Danny’s “THEY’RE GOING DOWN!” t-shirt

Stacy Summary:  Here it is . . .

Danny's one of a kind t-shirt

Danny's one of a kind t-shirt

Next Sunday, we will have a picture of Danny’s pitchfork!

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The ‘C’ word that dare not blog its name

Stacy Summary:  Tonight, there is no Truth About Markets for Resonance.  Sorry!  But you did have a whole feast yesterday.  This afternoon, I’d like to share this blog with you from Glenn Greenwald who has been THE best at chronicling crimes against the US Constitution from both the Republicans (Cheney/Bush) AND the Democrats (Obama).  As the MSM is always lame, they, of course, have hardly covered this story; but, unfortunately, much of the blogosphere I read seems to also ignore the issue . . . something I think that has to do with their belief that talking about the Fed or the Constitution is the preserve of conspiracy theorists and/or the right wing.  Anyway, let me know what you think of this . . .

It’s the nature of governments that powers of this type, once vested, rarely remain confined to their original purpose.  They inevitably and invariably expand far beyond that.  Powers that are endowed to address a limited and supposedly temporary circumstance almost always endure for years if not decades.  Once a political official possesses a particular power, they almost never relinquish it voluntarily (there are exceptions – Jimmy Carter in 1978 signed, and subsequent Presidents until Bush complied with, FISA, which barred Presidents from eavesdropping without a judicial warrant, but such instances are exceedingly rare).  Perhaps most dangerous of all, detention and punishment schemes that are implemented in relatively normal times (such as now) will inevitably expand, and expand wildly, in the case of some heightened threat (such as another Terrorist attack).  Put another way, once we depart for ostensibly limited purposes from our fundamental principles of justice — in order to indefinitely detain “just some special cases” without charges — then, by definition, we’re fundamentally altering our system of justice far beyond that.

Worse still, if — after eight years of Yoo memos and theories of presidential omnipotence and denial of habeas corpus — a Democratic President with a Democratic Congress implements his own kinder, gentler version of such programs, then they will cease to be a twisted aberration from the post-9/11 Bush era and will instead become the new bipartisan, American consensus approach to justice.  We’ll have a national (rather than right-wing) endorsement of the “principle” that national security threats justify denial of the most basic rights when it comes to detention and imprisonment.

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Royal bonuses, neo-aristocrats and rising insolvencies

Stacy Summary:  Neo-feudalism in the headlines this morning . . .

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[OTE13] On the Edge with Max Keiser – 07 August 2009 [Updated]

Stacy Summary: Here is part two.  Be patient on part one as the feed went out during the transmission, so I lost most of it; and re: part three, Youtube is hardly working at all tonight, so it’s taking forever and quitting out as I try to upload it.  Will upload the parts as they are available, I am also uploading the full version to blip.

Part one is here:

Part two: “Brown’s Bottom”

Part three: “Tyranny”

To watch Blip file

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