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Rick Ackerman-
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Most recent: 
You are economic heartwarming breath of fresh air entertainment – finally not an embedded journalist- check out our irish version VIncent Browne – you may like to have him on your sow sometime.
http://www.tv3.ie/shows.php?request=tonightwithvincentbrowne&tv3_preview=&video=13471
http://www.irishtimes.com/newspaper/opinion/2009/0923/1224255056515.html
U.S. Rescue May Reach $23.7 Trillion, Barofsky Says http://tinyurl.com/q2gnj3
FDIC considers calling for bank advances http://tinyurl.com/ybd75cf
this is a good read regarding the Stella D’Oro workers protest in new york.
thanks to Stacey for mentioning this in the second video.
Was it sparrows playing patty-cake in front of an Irish church that helped you with that assertion, Mr. King?
@All…. without question…. .Jim is a short circuited intellect unable of analytical thinking.
Complete, consistent, unending, useless bullshit reading.
Go back to your beer Jim and then get a good nights sleep.
Great Show!
I work at the CBOT and will make sure Santelli sees this(if he still has a J O B! )
Hey Max, you should hire him.He is one of those rare people actually showing some outrage over this!
@Supergeek
TnX for the concern, I am doing quiet well. Had some nice sunny weekend on the country side. So lots of Vitamine D. Still feel a little bit tired though.I quess it’s from all the reading and analyzing last months.
Some exciting times ahead: Will their realy be some sort of recovery?
Irish taxpayers are guinea pigs in a government experiment to buy property loans from banks at prices higher than market values yet lower than the amounts banks carry them for on their books.
Ireland is no different. Banks such as Allied Irish Banks PLC and Bank of Ireland PLC are saddled with billions of euros of troubled real-estate loans. Rather than force bank shareholders or creditors to bear the brunt of these losses, the Irish government is trying the kind of switcheroo Paulson wanted to pull off.
The issue was never fully resolved as the U.S. Congress needed two tries to pass the plan. Then Paulson did an about- face and decided to use the $700 billion in TARP funds to purchase equity in banks. Since then, the idea of the government buying assets from banks has fizzled.
The government also sees the plan, which has yet to be approved by the Irish parliament, or Dail, as a back-door way to borrow money to absorb losses. After exchanging bank assets for government-backed bonds, banks can pledge the bonds to the European Central Bank in return for cash.
The catch is that taxpayers may be paying even more than a 15 percent premium for the assets — and so taking on more risk — if the current market values still have room to fall. The government doesn’t think that’s the case; it is counting on Irish property values rising 10 percent over the next decade, allowing the plan to break even.
“There is still no evidence of a recovery in the housing market — either in building activity or demand,” analysts at BNP Paribas wrote in a report earlier this week. “Residential property prices will likely fall for the foreseeable future.”
Recapitalizations that make creditors and shareholders share in the pain, such as debt-for-equity swaps, should be an option. Ireland, like other countries, has to get over the notion that creditors are a sacred group who must be spared at all costs.
At the very least, the government shouldn’t ask taxpayers to wager so much on the hope that things will stop getting worse.
From: Bank Bailout Reject Embraced by Declawed Tiger: David Reilly http://tinyurl.com/yeop5z9
@youri
hope you are well dude?
Some form of a value-added tax is “more plausible today than it ever has been,” Podesta Says. A so-called consumption tax would “create a balance” with European and Japanese economies and “could potentially have a substantial effect on competitiveness,” said Podesta. Value- added taxes in Europe and Japan encourage savings by taxing consumption.
The budget deficit will be 11.2 percent of gross domestic product, the highest since World War II. Obama will begin by ending the upper-income tax cuts enacted under his predecessor, President George W. Bush.
From: Podesta Says Value-Added Tax ‘More Plausible’ as Deficits Grow http://tinyurl.com/yalavwn
Small Investors Make Big Bets on Currencies http://preview.tinyurl.com/ybaro3k
Japanese exports fell 36% in August from a year earlier an 11th straight decline.The drop was exacerbated by the yen’s 17% surge against the dollar in the past year, making Japanese goods more expensive abroad and hurting the value of repatriated earnings.
Japanese companies also face competition from China, where authorities have stalled currency appreciation against the dollar since July last year to protect exporters. Chinese companies at a trade show in Shanghai this week urged the government to delay gains in the yuan.
The yen rose to 90.74 per dollar at 1:44 p.m. in Tokyo, 0.6% higher than late yesterday. That’s stronger than the 97.33 level Japan’s exporters say they need to ensure a profit.
Goldman Sachs Group Inc. analysts are among those predicting the yen will decline because the Bank of Japan will refrain from raising interest rates longer than its counterparts, seeking to strengthen the recovery. Goldman Sachs forecasts it will weaken to 98 per dollar by the year-end.
“There are some factors that are not in our control,” said Richard Berger, a Tokyo-based spokesman at the company. “Changes in the exchange rate can have a serious impact on results.”
From: Japan’s Exporters Confront ‘Longing’ for Stronger Yen http://tinyurl.com/yd3v7lk
@jim
Your comments…are so useless sometimes…but don’t worry nothing personal…I feel the same about my own stuff…do you ever wake up and think …OMG did I just write that…
WE ARE ALL…
booshwah
berliners
black
equal
hokies
hezbollah
innocent
jews and germans
keynesians
kamikaze
middle class
prostitutes
palestinians
priests
rwandans
republicans
sinners
selfish
thatcherites
village idiots
zimbabweans
the only one I that really seems applicable.
‘WE ARE ALL WORRIED ABOUT YOU!
http://www.youtube.com/watch?v=qANMjwLmo6Y
The economy contracted at a 1.2 percent annual rate in the second quarter, more than the 1 percent pace previously estimated.
FED will keep interest rates low for the foreseeable future. The Obama administration’s $3 billion auto incentive to trade in gas-guzzlers for more fuel-efficient vehicles ran out of funds in late August.
Payroll losses peaked at 741,000 in January, the most for a single month since 1949. The U.S. has lost 6.9 million jobs since the recession began in December 2007. Payrolls probably fell by 180,000 workers in September. The jobs report may also show factory employment dropped by 53,000 workers this month compared with a 63,000 decrease in August.
The jobless rate this month probably climbed to 9.8 percent, the highest level since 1983, from 9.7 percent in August. Companies such as auto-parts maker Tenneco Inc. continue to eliminate jobs to cut costs and boost profits amid weak sales. Unemployment will reach 10 percent by the last quarter of 2009.
Household spending “remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit.” The Standard & Poor’s 500 Index fell 2.2 percent last week, the biggest weekly drop since early July, as figures on home sales and business spending came in weaker than analysts anticipated. Still declines in property values.
Consumer spending probably climbed 1.1 percent in August from the prior month, the most since August 2003, partly reflecting the surge in car sales, economists forecast a Commerce Department report Oct. 1 will show. Incomes, on the other hand, likely grew just 0.1 percent, reflecting the job losses, according to the survey median.
From: Payrolls Probably Declined at Slower Pace: U.S. Economy Preview http://tinyurl.com/ycct8q8
LIU HE
Liu spent much of his career in the State Planning Commission, the agency that formerly set prices for everything from bicycles to grain. A former soldier and factory worker who was sent to Manchuria in the midst of China’s 1966-1976 Cultural Revolution, Liu helped draft the five-year plans that underpinned China’s economy. He has been a Communist Party member for more than three decades.
Liu’s title since 2003 has been deputy director of the office of the Central Leading Group on Financial and Economic Affairs. Participants include Wen, Vice Premier Wang Qishan and People’s Bank of China Governor Zhou Xiaochuan.
Top-level access in Washington and Beijing gives Liu, a 57- year-old graduate of Harvard’s Kennedy School of Government, a pivotal role in the U.S.-China economic relationship. His mission was to convey American sensibilities on the depth of the U.S. financial crisis to Wen. It was part of a fact-finding tour that included stops in New York, Washington and San Francisco.
To generate ideas for the leading group, Liu convenes meetings of economists, bankers and government officials to hash out options on everything from pensions to the value of the yuan. ‘We’re interested in exchange-rate policies, talk,’ Liu said.
The leading group makes recommendations to the country’s cabinet, the full 25-person Politburo or its elite nine-member standing committee, led by Hu, 66, on whether to pull the trigger on government policies.
Liu, who holds the rank of vice minister, also gathers ideas from the Chinese Economists 50 Forum, a non-governmental group he founded in 1998 that parlays academic research into policy solutions. Members include Zhou and Lou Jiwei, the chairman of China’s $297.5 billion sovereign wealth fund.
Chinese response to the crisis: On Nov. 9, China announced a 4 trillion-yuan ($586 billion) stimulus.
From: Liu He as China’s Larry Summers Makes Politburo Appreciate U.S. http://tinyurl.com/yc6zzva
@s.herbert
oops I hadn’t noticed you had already replied to @wilson and…Sextrillion…in an hour I am really going out to get an eye test while they are still free on the NHS….s’no joke!
@wilson
“34% of Americans have less than 1 week’s savings. 50% have less than 2 week’s savings.” What are these people thinking?! …probably that they don’t want somebody else in the family to have to pay for their coffin and the cost of being buried…which probably means about 99% of americans don’t have any savings…so I don’t think it is just about what your parents have taught you!
@Wilson – I think the small amount of savings has more to do with not having enough earnings to afford the basic necessities, especially in a system structured in such a way that your basic necessities include big ticket items like health insurance, a car and car insurance
@Phil – of course, it is the Irish taxpayer that should be concerned about the 50% dive in rental income on the properties they are buying from the private sector builders; makes you wonder about the alleged 30% discount Nama is going to pay for these loans
@Mike/Liverpool – there is enough legitimate political and economic folly to accuse Brown of; even if it were true that he was using painkillers it is unnecessary to go there, imo
The U.S. has lent, spent or guaranteed $11.6 trillion to bolster banks and fight the longest recession in 70 years.
The Fed is allowing some of the 10 support programs it created or expanded after the credit crisis began in August 2007 to expire or shrink. That caused the first decline in the amount of money the U.S. has committed on behalf of taxpayers. Among the U.S. programs that have expired is the Treasury guarantee of money market mutual fund deposits.
The Fed’s Money Market Investor Funding Facility, or MMIFF, is slated to be closed on Oct. 30, and four other Fed programs with a total limit of $2.5 trillion are scheduled to expire in February. Others have been cut back. The central bank said Sept. 24 it will reduce the Term Securities Lending Facility to $50 billion from $75 billion and the Term Auction Facility, once $900 billion, will shrink to $50 billion. Support for commercial paper, short-term loans that corporations and banks use to pay everyday expenses, has fallen to $1.2 trillion as the market fell from a one-year peak of $1.8 trillion in January.
Banks have repaid about $70.6 billion of the $204.6 billion in direct aid extended through the Capital Purchase Program of the Troubled Asset Relief Program, or TARP. Congress created the $700 billion fund last October. The $70.6 billion includes $25 billion from New York-based JPMorgan Chase, one of the biggest recipients, and $28 million from Novato, California-based Bank of Marin Bancorp, one of the smallest, according to the Treasury and regulatory filings.
Treasury has already begun the process of exiting from some emergency programs,” the TARP administrator, Herb Allison, told the Senate Banking Committee Sept. 24. “It will, however, be some time before all CPP participants have fully extinguished their obligations to the taxpayers.”
The Federal Deposit Insurance Corp. said its Temporary Liquidity Guarantee Program has generated more than $9 billion in fees. The combined commitments of the Fed and government agencies are 57% higher than on Nov. 24, when Bloomberg’s first tally was $7.4 trillion. “We’re not self-sustaining yet,” William O’Donnell, head of Treasury strategy for RBS Securities Inc. in Stamford, Connecticut, said in an interview.
Fed focusing on the economy by buying mortgage-backed securities. The Federal Reserve decided to keep pumping $1.25 trillion of new money into the mortgage market. The purchases were scheduled to stop at the end of December. The Federal Open Market Committee decided on Sept. 23 to continue the program through the first quarter of next year and slow the pace of buying.
The tally “ignores the fact that virtually all commitments are backed by assets, ‘outlays’ are largely in the form of secured loans. The aggregate value of the collateral backing those loans exceeds the loan value. These are not ‘outlays.” Said Andrew S. Williams, a Treasury Department spokesman in an e- mail. The Fed has refused to identify the collateral backing its loans.
The $3 billion “cash for clunkers,” which gave people rebates for trading in gas-guzzling vehicles, ended in August after 700,000 vehicles were sold, according to the U.S. Department of Transportation.
From: Fed’s Strategy Reduces U.S. Bailout to $11.6 Trillion http://tinyurl.com/ydehx8b
“34% of Americans have less than 1 week’s savings. 50% have less than 2 week’s savings.” What are these people thinking?! What did their parents teach them? This reminds of of a quote by head of China’s green energy drive
“The US spends tomorrow’s money today. We Chinese spend today’s money tomorrow.”
@Scott from Oregon … Very interesting indeed … thanks for the link
…Ron Paul originally introduced the bill for the first time in 1983. But for 12 years after that, the Republicans used their control of the Finance Committee to insure that there was “no time” to give Paul’s bill a hearing….
…
… In 2003, when Paul was in line to become chair of the domestic monetary subcommittee, that subcommittee – coincidentally enough – immediately disappeared, and was merged into another subcommittee in order to shield the Federal Reserve from the imminent oversight which a monetary subcommittee under Paul would presumably create….
…
http://www.washingtonsblog.com/2009/09/ron-paul-introduced-audit-fed-bill-in.html
Chinese industrial companies’ profits fell at a slower pace as a recovery gathered pace in the world’s third-biggest economy on stimulus spending and record lending in the first half of the year.
Net income declined 11% from a year earlier in the eight months through August. Profits dropped 23% in the first five months of the year.
Sales in the first eight months of the year rose 1.6%. The data is for companies with annual sales of more than 5 million yuan in 39 industries, including steel, chemicals, electricity, telecommunications and mining.
The government is aiming for 8% economic growth. China “cannot and will not” pull back yet from monetary and fiscal stimulus measures.
China’s State Council pledged this week more measures to help small- and medium-sized businesses burdened by overcapacity, weak demand, falling profits and difficulties getting loans. Measures include tax breaks and assistance via government procurement.
Small- and medium-sized enterprises thus far been left out of the credit boom.
From: Chinese Industrial Profits Fall More Slowly as Economy Recovers http://tinyurl.com/yd3ytxh
New orders for long-lasting U.S. manufactured goods fell in August and sales of new homes rose below expectations. Durable goods orders tumbled 2.4 percent in August, the largest percentage decline since January.
“We don’t have a lot of consumer spending going on.” Drop in purchases of used homes in August.
Number of major speed bumps and potholes on the horizon: “These include the expiry of fiscal stimulus measures supporting the housing market in November and uncertainty about the potential impact of the Federal Reserve’s ‘exit strategy’ availability of credit to critical areas such as auto and mortgage finance.”
The drop in durable goods orders, a leading indicator of manufacturing activity, was largely caused by a decline in new orders for commercial aircraft — likely reflecting a drop in orders received by Boeing.
Durable goods orders excluding transportation were flat in August.Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending, unexpectedly fell 0.4 percent in August.
Household spending remains constrained by a weak labor market. Total new homes sales fell 3.4 percent compared with August last year.
The median home sales price in August fell 11.7 percent from a year earlier to $195,200, the lowest since October 2003, the department said. In July, the median home price was $215,600.
From: U.S. durable goods orders drop, home sales rise http://tinyurl.com/ydexaus
Freddie Mac the second-largest U.S. home funding company, on Friday said its mortgage investment portfolio shrank by an annualized 29.5 percent rate in August, while delinquencies on loans it guarantees accelerated.
Delinquencies, which increase stress on the company’s capital, jumped to 3.13 percent of its book of business from 2.95 percent in July and 1.11 percent in August 2008.
The current agreement with the U.S. Treasury has the retained portfolio at Fannie Mae and Freddie Mac capped at $900 billion until December 31, when they are to start declining by 10 percent per year until they reach $250 billion.
The government has been relying heavily on Fannie Mae and Freddie Mac in its efforts to stimulate the battered U.S. housing market by buying more mortgage loans, easing refinancing and helping homeowners avoid foreclosure.
Home price declines have moderated in many regions of the country and, according to some indexes, prices in some regions have risen.
From: Freddie Mac Aug portfolio down, delinquencies jump: http://tinyurl.com/yc3jugf
United States will create “ghost sites” for psychological warfare (Google trans. from Spanish) http://tinyurl.com/ye83t54
US will create “ghost sites” for psychological warfare. The article is in Spanish, the document link within the article to the contract is in English.
http://www.elpais.com/articulo/tecnologia/Estados/Unidos/creara/webs/fantasma/guerra/psicologica/elpeputec/20090928elpeputec_1/Tes
@d3do
now that is how I like to start the day….last time I saw a scene like that was when boots launched that No7 ‘protect and perfect’ face cream!
@alister
well now I am trying to brag…I posted that story a couple a days ago…good story huh…you may get a better response as SEXTRILLION has a much better ring to it than !….”1,784 billion, trillion dollars” plus it contains the word sex which as we know always sells.
Awwww. Sorry about the cornflakes, Supergeek. I’ve also added another link to the “Sunday video” thread for anyone awake and looking for a time killer. A little doc. called “Terrorizing Dissent” that I’m about to watch. But it’s probably not a good way to start the morning, either.
Good morning to you!
@Hey jim,……take a chill pill !! you might invoke the ghost in us.
http://www.youtube.com/watch?v=h8pWtpOWQ-k&feature=related
http://en.wikipedia.org/wiki/The_Barbarian_Invasions
SEXTILLION?
http://www.theage.com.au/business/man-sues-bank-of-america-for-1784-billion-trillion-dollars-20090928-g890.html
@ill ya cure ya kin
yeah… spot on…well put….I know it isn’t a competition and I’m not trying to brag…but I feel just the same way about the uk.
@mep
wow…cheers mep…what a nice start to the day…just what I need to be crying in my cornflakes at six o’clock in the morning…nah just a little welling up I’ll be fine…hope I’m not being too picky but the version I posted is musically differrent as well (outtake!) funny…I hadn’t heard the song till I saw movie ‘children of men’ as used it in the closing credits…blah blah.
http://www.washingtonsblog.com/2009/09/ron-paul-introduced-audit-fed-bill-in.html
Interesting link with a video clip of Barney Frank’s opening statements regarding the audit the fed hearing…
Hey Max…don’t you think that all “revolutionaries” …are just Tory wannabees….and that all of Whigdoom is just there to do the Tory’s bidding???
if as Bacon said… knowledge is power…that must explain why we are all so POWERLESS.
spell-bound; earth-bound….SPARROWS.
the only reason that that the North, Britain, Europe had given up villeinage, serfdom & slavery….was that “free” labour had proven cheaper than servile labour…See Ricardo, Marx, Engels & Mill….if you doubt them…recount the mills & wharves of the respective zip-codes.
Lincoln emancipated landless slaves by enslaving landed freeman….the Indians were landed INDEED….truly Lockeian.
You guys keep claiming it’s the “US taxpayer” having to pay these debt burdens. Clearly that is bullshit: the US has existed, since WWII, on the BACKS of Everyone Else. They have had a FREE freaking ride!!! From the IMF/World Bank, to your multinational corporations, to the Takeover of fiat “reserve currency” by Nixon, and the Saudi dollars for oil deal, the US has been raping the rest of the world via it’s threat of military invasion.
The US has, what, a per capita GDP of $40K or so? TWO BILLION people on this planet live on TWO DOLLARS a day – and these people are in resource-rich countries who would, but for US military intervention and coups d’etat, be doing alright right now.
Yankistan and Yankistani’s can go to hell for all I care. The sooner the better.
Slavery requires considerable centralization of political power to protect its…feudal//fuedal neccessities.”
@ Supergeek – Good choice.
Here’s the same song, but a much more difficult video:
http://www.youtube.com/watch?v=7tu_YgcfP28
“the southern states are already the Ireland of the Union”…Oscar Wilde, 1825
Long before there was Jew or Nigger…there was Irish.
Paddy Kake, Paddy Kake.
Welcome to the Church of Culdee.
The Puritan; read Amerikan ethos….with its formula of progress through freedom under[of] Slavery. It is a Norman Instinct. It put them on the waters….in search of divine loot & plunder. Thor masked as Jehovah. It has subsribed & enlisted many talents…in search of even more ‘talents”……We are all Iraqis’ NOW.
South American countries create Bank of the South. Development bank independent of IMF and World Bank.
http://www.newsday.com/business/south-american-nations-agree-to-start-20b-bank-1.1479664
If Zionism is not racism, why is Israel trying to ban Jewish women from dating Arab men? Intermarriage considered “national treason.”
http://www.informationclearinghouse.info/article23573.htm
Iran says newly-revealed uranium enrichment facility compliant with IAEA rules. Also says facility complies witb non-proliferation treaty.
http://www.presstv.com/classic/detail.aspx?id=107097§ionid=351020104
Gordon Brown
http://www.timesonline.co.uk/tol/news/politics/article6851283.ece
Might he be joining Michael Jackson shorty?
Mike
Watch the £………A “TOB” is taking place. You guys might not know this but the bloke from the BBC asked Brown flat out if he was taking “Pain killers”?
“NO!”……….but the damage was done.
Mike
My guess is that US will finally be declared
bankrupt.
“when the final report on the risks of the US financial system is released in 2010 — and it is likely to cause a stir internationally — only one of the people in positions of responsiblity today will still be in office: Ben Bernanke.”
from Mike/Liverpool’s link
Is it possible that the audit is being conducted or has been? An international stir…and how did Spiegal know that Bernanke would be reappointed?
Ireland : Retail rental market now close to collapse
http://www.independent.ie/business/commercial-property/retail-rental-market-now-close-to-collapse-1897898.html
.
.
.
UK : Homeowners struggling to offload property: survey
Peter Carvill FinancialAdviser Published Thursday , September 24, 2009
More than half a million homeowners have been trying to sell their property for longer than six months, according to Property Dating Agency.
http://www.ftadviser.com/FinancialAdviser/Mortgages/News/article/20090924/176393e8-a466-11de-9922-0015171400aa/Homeowners-struggling-to-offload-property-survey.jsp
FWIW
On Forex Trading …
This came in via EMail :
How many times have you felt your broker “took you out” of the market?
Brokers are NO LONGER allowed to accept:
OCO orders, (one cancels the other, used when bracketing the market for breakouts)
Stop Loss Orders (To Limit Your Losses or Risk in a given
Trade) – GONE
Limit Orders (To Exit You Out Of Your Position When Your
Target Is Hit) – GONE
http://www.forexexecutorpro.com/fep.htm?hop=dtcoach2
Spam advertising, but intresting all the same.
@frances … “Glad your mum is well.”
Thanks.
She has a high regard for the NHS .. as I do too.
Hey Max
ICELAND TO HUNT & EXPORT ……”Large Fish”
http://news.bbc.co.uk/1/hi/sci/tech/8275732.stm
Mike
@mep
as someone else recently mentioned…stacy does have great timing…video day brilliant idea!
http://www.youtube.com/watch?v=a2wvJUZYQ7o
American Young unemployment hits 52.2% !!!!!!
http://www.nypost.com/p/news/business/the_dead_end_kids_AnwaWNOGqsXMuIlGONNX1K
God there be some GREAT music a coming!
Mike
@Phil:
Your prognosis is highly regarded. Glad your mum is well.
@y’all
it’s still sunday innit? I see Terry Hall at least twice a week he likes to sit outside at the cafes in the angel, and ‘Do Nothing’
http://www.youtube.com/watch?v=3VsTjErq2oA
The Specials: 1980
‘I’m just living in a life without meaning I just walk and walk do nothing. I talk and talk say nothing’…nothing ever change oh no, nothing ever change’
La Rouche !
Wow .. now I’m beginning to see what you guys mean about La Rouche ! He obviously reckons the PTB are British ( London City power centre ) !
http://www.youtube.com/watch?v=mYvqoccuTEo&feature=rec-HM-fresh+div
CNBC Talking Heads : IMF and the US$ – Global Currency
17. August 2009
Jim Rickards Discusses IMF and the Dollar on CNBC Squawk Box
http://www.youtube.com/watch?v=Hpb85UfoSFw
@y’all
oops typo…What I meant to say was if I could be bothered to put my glasses on…Panis et Circences’
@frances .. I agree.
I mean, these guys in Washington can’t be that stupid.
My guess is that this is part of the PTB’s plan to inflate their way out of US$ debt and achieving a 1W-Fiat-Currency leaving Corporate US with much lower debt levels. On top of that , I think the stock-assets of blue-chip US Corporations ( that have 75+% of revenues outside the USA ) will of course be revalued upwards against a valueless US$ .. i.e. DJ30 stocks will go up while other US ( “US only” operating ) stocks may sink .
ie. no “new system” reboot .. just the same old game carried to a higher level.
Just my guess FWIW.
@d3do
Like ‘bread and circuses’
Not a great translation…I could do a better translation than this If I wanted..if I was bothered!…’all the people having dinner inside so very busy with their food, till they die ..etc
http://www.youtube.com/watch?v=g2EKghlmIyQ
Os Mutantes – Panis Et Circances (Bread and Circuses)
I wanted to sing a song illuminated by the sun
I raised the sails to the wind
I freed the tigers and the lions in the yard
But the people in the dining hall
Are busy being born and dying
I demanded that a dagger of pure luminous steel be made
To kill my love and I killed her
At five o’clock on Central Avenue
But the people in the dining hall
Are busy being born and dying
I demanded that leaves of dreams be planted in the Garden of the Sun
The leaves know how to seek the sun
And the roots seek, seek
But the people in the dining hall
These people in the dining hall
But the people in the dining hall
Are busy being born and dying
@Phil:
I believe the IMF is going to put us through bankruptcy, slap on some cologne, and move out of Dodge.
Yes, Dedo. The banksters are laughing so hard their caveats are damp.
@frances
I would hope by now that every utterance by congress is circumspect. The Fed? Might as well try to impugn the character of God himself (analogy provided for those who believe in karma).
@Mike/Liverpool
Now the IMF ?
That sort of figures !!
…As part of the assessment, the Fed, the Securities and Exchange Commission (SEC), the major investment banks, mortgage banks and hedge funds will be asked to hand over confidential documents to the IMF team. They will be required to answer the questions they are asked during interviews. Their databases will be subjected to so-called stress tests — worst-case scenarios designed to simulate the broader effects of failures of other major financial institutions or a continuing decline of the dollar….
A sham indeed .. seems as if the plan is to sink the dollar in leaving it to the IMF to blow the whistle, then Obama can tell the Chinese it wasn’t his fault.
@Frances,…..not a joke,….”Entertainment”
http://www.youtube.com/watch?v=mv55WsedLYI
Here’s the “disinterested” party in charge of the Government Accountability Office:
http://www.gao.gov/cghome/index.html
What a joke.
THE FED AUDIT IS A SHAM AND A SHAME TO ALL PATRIOTS WHO WOULD TRUST A CORRUPT GOVERNMENT BUREAUCRACY TO REVEAL TRUTH WHEN THE SELF-SAFE OFFICE ALLOWED CORRUPTION TO CONTINUE UNABATED AND UNCONTESTED.
It is flag-waving at best.
Here’s a link for the Government Accountability Office:
http://www.gao.gov/
Haven’t they been doing a stellar job up till now? Surely our liberty should be vouchsafed to Barney Frank and the dudes at the GAO.
http://www.youtube.com/watch?v=RV301PZ-LhE
Ron Paul is trusting these guys to do the audit??? And who will make sure the criminals are put to justice???
@frances
cheers…yeah…I only saw todays date above top left!
@Supergeek!
When you look at the content of the film Polanski is making now–The Ghost-it becomes clear why the US and UK DO NOT wnat that film to be completed. Not everyone reads novels but a lot of people would see the film that thinly disguises Tony Blair as a CIA operative and where waterboarding fits in. I have not seen this connection anywhere else but it is sure to come out. Polanski owns a house in Switzerland and never has had a bit of a problem before.
Seems the stories that are coming out of the FDIC are just that: stories to string time along until the inevitable dollar devaluation. Why would the FDIC borrow from banks to fund banks to save the savers when a dollar shot put is in the call?
Would the money lent to the FDIC by healthy banks be dollar for dollar deposits, or leveraged? It would be funny if it were primarily lent into existence with leverage against the healthy banks’ deposits.
hey Max,
when you talk about the british empire falling and the american two tier monetary system, this is surprisingly similar to this:
http://www.youtube.com/watch?v=ThgsKuv4Ej0
Marc
@Supergeek!
Very good, you put on your glasses! Now look at the date!
The BIS wanted the Fed audit the summer of 2008, but Bushy said that he wanted to wait until the fiscal year ended for the Fed. Well, it did, and all hell broke loose.
Same/same this year. The Fed audit…I wonder about the Congressional office that is supposed to handle that audit: oh yeah, Government Accountability Office.
HAHAHAHAHA
It’s almost as if after first hollowing the US out, they’re now naked short-selling it.
@jim
“A vast conspiracy against mankind . . .
We do have like minds in some respect.
@#2@y’all
I don’t understand am I missing something here is there a typo…why does it say bush’s last year in office? is it because this was all agreed last year?
‘Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush’s last year in office, but it may not be completed until he has left the White House. This is bad news for the Fed chairman’
IMF to Audit the FED!
http://www.spiegel.de/international/world/0,1518,562291,00.html
“A vast conspiracy against mankind has been organized on two continents, and is rapidly taking possession of the world.”….Andrew Jackson; Farewell Address, March 3, 1837.
Stacy, good show on press TV- shocking and outrageous as usual.
a questions- surprised you and Max haven’t commented on the unadvertised IRS foreign bank forms that millions of Americans are scrambling to complete. They’ve had to put back the date to Oct 15th from Sept. 23- this is the 3rd time they’ve moved the fate back. The fees are punitive and could wipe people out = smells a bit like Nazi’s talking about showers for their guests.I’m an American get me out of here.
Note on German Election …
Most significant :
The overall attendance was down from 77 to 72%
The big parties lost out to the smaller ones.
The conservative right ( CDU+FDP ) seem to have won by a good margin.
The Pirate Party got 2% IIRC.
The order of results were :
CDU – conservatives
SPD – socialists
FDP – Liberals
Linke – Left wing party
Green party
http://www.ftd.de/
Interesting that dinar had to be de-pegged from dollar to lower inflation.
Gulf single currency should be phased: Kuwait
http://news.theage.com.au/breaking-news-world/gulf-single-currency-should-be-phased-kuwait-20090928-g7vp.html
—————–
Iran state telecoms firm privatised in eight-bln-dollar deal
http://news.theage.com.au/breaking-news-world/iran-state-telecoms-firm-privatised-in-eightblndollar-deal-20090928-g7vn.html
Economists have criticised President Mahmoud Ahmadinejad’s government for dragging its feet over privatisation.
In most stake sales, the government hands out 20 percent of the equity in such privatised companies as “justice” shares to the poor and keeps 20 percent for itself.
Of the remaining 10 percent, five percent is given to employees of the company and the rest is offered publicly to set a price prior to the majority stake sale.
This formula was followed in the privatisation of Telecommunication Company of Iran.
@y’all
re:the polanski story…if anyone dittent see this bbc doc from lasy year…I can highly reccommend it some great footage,great editing, quite arty…and the whole background story to his case etc etc…brilliant!
here is link to the torrent:
‘Roman Polanski Wanted and Desired’
http://www.mininova.org/tor/1949523
Thanks guys…another show that tells us what mainstream media fails to.
It begs the question as to when mainstream media will no longer be considered mainstream?
for Max
very old…
http://www.youtube.com/watch?v=yOZRBMpjXpg&feature=related
http://en.wikipedia.org/wiki/Callum_McCarthy
“There is increasing evidence that organised criminal groups are placing their own people in financial services firms…They can increase their knowledge of firms’ systems and controls and thus learn how to circumvent them to commit their frauds” – McCarthy at FSA Financial Crime Conference in 2005.[4][5]
^ FSA Financial Crime Conference
^ “Watchdog warns of criminal gangs inside banks”. The Guardian. Retrieved 2007-11-30.
Great show, Max put the whole financial, military, health
fiasco in perspective.
Without a real healthy economy how could we possibly afford socialize healthcare if the wasteful spending is happening in the so called defense side. Americans have no job and no money to pay taxes. Dumb A$$ politicians.
This only proves the Federal Reserve is just a useless
bureaucracy that international bankers have been using to squander the wealth of nations.
Hi Everyone!
Here is great article from MSNBC about Chicago community goups meeting with the Fed 3x A YEAR SINCE 1999 alerting them to the growing subprime loan racketeering scheme that was going to crush inner city minority communities:
http://www.msnbc.msn.com/id/33041360/ns/business-washington_post//
Here’s how the poor babies explain what happened:
“The Fed’s performance was undercut by several factors, according to documents and more than two dozen interviews with current and former Fed governors and employees, government officials, industry executives and consumer advocates. It was crippled by the doubts of senior officials about the value of regulation, by a tendency to discount anecdotal evidence of problems and by its affinity for the financial industry. ”
Affinity for the financial industry? Well, duh????
So basically the article is screaming that the problem spans ALL adminstrations, left and right, and that the problem ultimately lies at the feet of the Fed. This looks to me like a lot of momentum for the good guys with a lot of light bulbs going off.
But…
How deeply do you think progressives are connecting the dots?
I look at all this from a more Libertarian perspective but progressives I talk to still think the whole thing has to do exclusively with Republican corruption and that Dems REALLY are all about change.
PS
There’s also a vid on the page where Ron Paul is asked about Fed audit and Bloomberg’s FOI lawsuit re: Fed.
for people up for some lighthearted comedy :
http://www.theonion.com/content/video/u_s_government_stages_fake_coup
Good show deserves more time.
Here is a “must read” headline on FTSE fraud
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6850753.ece
@Wilhelm II – Ha ha, lmao; I’ll ignore your twisted love for the military machine that has bankrupted the empire (and that as with other empires before is collapsing in Afghanistan); but in terms of your comments on HSBC (a UK company since it was founded by the British in the 1800′s), I think it may have something to do with their first hand knowledge at losing $62 billion on US subprime through Household Financial; they are pointing out the obvious that cash is king and if you ain’t got it, you ain’t going to get international corporations fighting for your business
Give me a break, the S in HSBC stands for Shanghai, the onshore financial capital run by the Chinese Communist Party.
You guys talk a big game about the US losing its status in the world, but it’s just empty talk. You may change your tune if you wake up one morning to find that dozens of IRGC bases have been vaporized, along with the Iranian nuclear program.
I wonder if the coalition forces marching into Tehran would pull the plug on your friends over at Press TV?
@alister – Correct! Imagine all that would be possible?
if the germans, french, israelis and russians ever combined their intellectual capacities they could drag the world into a new golden age
@Part 3 … Max : ” a sheep in wolf’s clothing”
LOL … love it !
Vice Versa of course !
It goes beyond socially useless they are more like a social burden and a heavy one at that, because they leech wealth and never once have created any wealth.
This doesn’t just apply to banks/bankers its basicly a state of consciousness it can apply to banks institutions business and individuals that are happy to live via usury.
So anyone whos happy to earn copious amounts of money via their investments better look first at the beam in their own eye before knocking the banks.
@s.herbert
where is eureka ma I would be more worried if he never had a day off!
nay stacy, truth be told i’m the wolfgang yt commenter
@alister – is that you?
strange but dimensional, still
http://www.youtube.com/watch?v=VyMuCq5Mt4Q&feature=sub
great show again guys………….