Watching the 1988 video about Ron Paul does not surprise me. He is the only US politician that I have seen and scrutinized that has been unfailingly true to his message and pure in his character. I love Ron Paul.
@Supergeek: yes the dimly lit room…and the “sex” meant to be “ex”…
The gravatar is a section of Mars..the entire full view in on one of my email sites….I guess I have to learn how to shrink it to size…sorry about the 3 card Monty loss…I actually at a very low point in my not very illustrious career was a member of a crew who moved from truck stop to truck stop…
@maxkeiser.com
cheers for the show.. really enjoyable… huh… the shorter NZ show is like the 7″ edit/mix compared to the 12″ extended mix for resonance radio!!!
Britain’s not bust. So don’t use it as an excuse to impose cuts
“So is the world – and Britain’s history – bankrupt, or is Cameron’s reasoning? In all indebted countries, there have always been people who warned that the fiscal sky was about to fall in. In 1752 the philosopher David Hume cried: “Either the nation must destroy public credit, or public credit will destroy the nation.” As the great historian Thomas Macaulay explained: “At every stage in the growth of the debt it has been seriously asserted by wise men that bankruptcy and ruin were at hand. Yet still the debt went on growing, and still bankruptcy and ruin were as remote as ever.” http://tinyurl.com/ya2py36
Mystery as Iran nuclear scientist disappears http://tinyurl.com/ybnbru9
the article makes no mention of the IAEA views. I think it’s just trying for a bit of cold war style excitement
While everyone is worrying about Gold, something else is happening :
Latest Earthquakes Magnitude 2.5 or Greater in the United States and Adjacent Areas and Magnitude 4.5 or Greater in the Rest of the World – Last 7 days
Latest Earthquakes Magnitude 2.5 or Greater in the United States and Adjacent Areas and Magnitude 4.5 or Greater in the Rest of the World – Last 7 days
@richard 30 degrees
nice avater…what it is???… uhmmm stacy hiring or needing a ‘sex navy seal’ I’m not sure of the reason… but I think you may be spending too much time in the dimly lit rooms… not that I don’t myself… get a grip (sorry bad pun!!!) also as I mentioned last week I lost my first wage packet to the ‘three card monty’ I think it may have scarred me for life!!!
“Dombrovskis has proposed new laws limiting liability in the case of mortgage default to the current market value of the property – meaning colossal potential losses for the banks, since most property borrowers are in negative equity.
“Mortgage borrowers can hand in the keys to the bank, and not be liable for anything,” said Danske Bank, describing the scheme as “draconian”. An economist at another Scandinavian bank in Riga said: “This would be economic suicide. The lending would stop overnight. You won’t be able to rely on Latvian law. Foreign direct investment will go down.” http://tinyurl.com/ydcydbt
Goldman-Sachs tryied to controll the programming line up for CanWest media company in Canada. As Max has said, Goldman-Sachs is if not already, entering every man, woman and childs home on the planet.. right before our eyes…
“Financiers working with Goldman said that over the past year, the investment bank put forward programming ideas for the TV networks, and offered strategic advice on restructuring, but was ignored by CanWest management and its creditors.
One concept that’s been tossed around, but couldn’t move forward until CanWest recapitalization was set, would see Goldman Sachs provide programming and financial support to the conventional television network as part of a larger deal that reworks the entire ownership structure to more closely align all the TV holdings.”
In pure Celente-language.. who the fuck do these guys think they are!
@Max: Well Stacy it appears you are concerned for your well being as you make plans to travel to So America…just open an account in the Bank of the South and the rip will be well worth it…it’ sex Navy Seal Jesse Ventura you need to hire…and why aren’t you a guest on his upcoming LA “conspiracy” radio show???or am I mistaken?
@Max: BYW…TAM NZ….love the way u have today recall of Three Card Monty…and that at the last hand the dealer allows the sucker to win …small……got experience????
The Pentagon has moved the MOP to the fast track because the Iran attack plan is now operational and will probably be carried out before the end of the year.
1/ IF the USA needed gold to prop up their currency/economy, they would be invading countries to control their GOLD mines, not OIL wells.
(I hope they don’t invade Canada; we have BOTH.)
2/ China is smart by simply BUYING companies that produce oil/gas/minerals ALL OVER the planet.
(Using US Treasury Bonds to do so. Notice shift in the ultimate holders of USA IOUs.)
3/ IF the rumoured Oil Trading Basket Currency is to be weighted with gold, gold would have already shot up to some staggering amount (not 2% increase).
This kid in Columbia has a pretty decent track record… he’s even located kidnapping victims. In late March, he was profiled by local TV (following flooding and landslides which he foresaw) and predicted that there would be an assassination attempt on Obama in five months…
Nice to see all the animal gravatars! Stacy, esp… great pic.
“The ASPIRE Act would give each child born in the United States a $500 savings account. Recipients could then use that money once they were older to pay for education, a first home, or retirement. Low-income children would receive additional funding, and all participants could add to their accounts over time.
Lawmakers are expected to reintroduce the ASPIRE Act before the end of the year, and it already enjoys bipartisan support. The main challenge for supporters will most likely be over how to justify the cost at a time of great budget deficits and competing demands for federal dollars. Critics argue that the program would simply create another costly entitlement program. Writing for the Portland-based think tank Cascade Policy Institute, policy analyst Sreya Sarkar says the program would provide benefits to one generation by taxing another.
Over the first decade of its life, the program would cost around $37.5 billion, and would start at around $3.25 billion per year. Cramer argues that because the money would be invested through the savings account, it would help spur economic growth. Lawmakers sponsoring the bill have said they would pay for it by making other cuts, but the bill doesn’t specify what those cuts would be.”
Max….the “financing” of the US debt….done by China & others is vendor financing….it is accomplished by PRINTING Yuan to sell….in order to BUY FDI offers of Printed Dollars.
THEY exchange their CONFETTI for our Confetti…without this “method”; there is not a respective current “power structure” any where in the world that would be intact tomorrow morning.
C’mon Max…you don’t really believe any of this East India sorcery is Real on anyone’s part…do you???
A report into how $15.3 million in gold went missing from the Royal Canadian Mint will be released within a month, the Conservative government said Tuesday.
Gross National Product (GNP): How is it Calculated? What does it Measure?
GDP = C + I + G + (X – M)
Where:
C = Household and personal consumption expenditures
I = Gross private domestic investment expenditures
G = Government consumption and gross investment expenditures
X = Expenditures on goods and services exported
M = Expenditures on goods and services imported
(Removing X and M from the formula yields Gross Domestic Product.)
1. It does not measure production; it measures sales.
2. It omits all the money spent in the underground economy.
3. It doesn’t distinguish between money spent in a gambling casino and money spent on a car. Money spent in a gambling casino doesn’t buy a product or a service.
4. It doesn’t distinguish between quality and quality.
Italian court throws out Berlusconi immunity
By Stephen Brown and Silvia Aloisi
ROME (Reuters) – Italy’s top court ruled on Wednesday that a law granting Prime Minister Silvio Berlusconi immunity from prosecution violates the constitution, in a verdict that will reopen trials against him and may undermine his government….
…
… http://www.reuters.com/article/topNews/idUSTRE59649920091007
Tons of prediction date in this article :
Global Business Cycle, showing economic confidence & activity
It peaked on a relative basis in late December 2004, and is headed down through January 2006. Global economic confidence will turn back up into a major relative peak in late February 2007.
( 2005 ) Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse
by William Clark
“This notion that the United States is getting ready to attack Iran is simply ridiculous…Having said that, all options are on the table.”
– President George W. Bush, February 2005 http://tinyurl.com/6cmfkx
( 2005 ) Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse
by William Clark
“This notion that the United States is getting ready to attack Iran is simply ridiculous…Having said that, all options are on the table.”
– President George W. Bush, February 2005 http://www.energybulletin.net/node/7707
Max…the reason the dollar is going down:….EVERYONES’ liabilities are in dollars; while their assets are in non-dollars(equities//bonds//commodities)…well over 50%of the revenues & profits of the S&P 500 are “abroad”….ie pay your liabilities off in a depreciating currency; while inflating your non-dollar “assets” in appreciating currencies….it’s just another currency arb.
Please remember that 4 of the 5 tire companies that were “tariffed” were Non-Chinese JV’s….Japan, Europe, US.
The new currency & SDR’s are just new ways to “print” NEW DOLLARS…..after all, we just lost 100 trillion OLD DOLLARS in the last two yrs(worldwide)….got to make that up some how.
@ Nick – The answer is certainly not to start adopting the US system. Do that, and those 25 people won’t even be in a neglected hospital room, they’ll just be left to die in an alleyway or something.
UK NHS is certainly NOT run brilliantly, and hasn’t been for many years. One of the most depressing experiences I ever had was visiting my grandfather in L&D hospital. Not because he was in a sorry state, but that the conditions on his ward were truely dreadful. 25 beds in one horribly neglected room. People groaning. Disoriented old folk wandering around. Truely dreadful. Dreadfully underfunded.
FROM : Die strukturierten Finanzprodukte basieren auf der Verbriefung langfristiger Kredite. IKB und HRE……..
TO : …….. Bilanzen der Banken zusätzlich belasten.
… The structured financial products are based on the securitization of long-term loans. IKB and HRE financed the purchase of these products with short-term loans. They made “long” credit “short”. One strategy already tried in Germany – the Munich-based financial brokerage Rudolf Münemann 1970 – failed catastrophically using this method . From “long” make “short” works only as long as it is possible to make sure of a follow-up financing for the existing loans. As it turned out that the vaunted financial innovations relate primarily bad loans, the refinancing was no longer possible. Banks refused to IKB and the HRE as well as the regional banks new loans. When the American government refused to pay the debts of Lehman Brothers, the inter-bank lending came to a halt completely. The demise of Lehman Brothers was a consequence and not the cause of the rampant financial speculation. Increases, the financial needs of the bankrupt banks by the fact that structured financial products traded as securities have dramatically fallen in value, must be partially written off completely and strain the balance sheets of the banks also….
@ Photoception – Pirate My Health Care would be a good title, too.
WTF is the UK thinking? People just got all up in arms there about the US assaults on the NHS. So they should be well-prepped to smack down any talk of privatizing the NHS.
@ All – Today, AG Holder and the Education Secretary, Arne Duncan are in Chicago talking about the increased violence there among the youth. What’s missing so far from the TV coverage of press meetings is that Arne Duncan was the CEO in charge of Chicago Schools before going to Washington. It’s looking like his pro-charter school/pro-corporate/pro-privatization stance is responsible for the increased violence and deaths:
IMO, privatization of schools is where the main force of privatization is now in the US. The Washington Post just wrote a pro-charter school piece a few days ago, charter schools are on the rise in LA, and there was an entire propaganda show about charter schools on MSNBC recently.
So yes, “recovery” seems to = stealing even more from the commons and whittling away at quality of life even more. But back to the UK, I sure hope that the people there put up a good fight.
Max is supposed to be on Alex Jones int the next hour. But the broadcast keeps repeating a short segment and then disconnecting . Is anyone else having trouble?
IIRC, HRE also has something to do with the “Verbriefung” ( Securitization ) of German Real Estate .
Some months ago, they mentioned that this would have WW effects if HRE went down !
As I said … IIRC .. not too sure , but think it was in reference to HRE !
Labour Behind the Label, as part of the Asia Floor Wage alliance are calling for a widespread and systematic change to the way garment worker’s wages are calculated and paid. This change will not only include action on the part of singular brands and retailers, but collaboration together with other brands, and action taken by national governments and industry to raise minimum wage levels.
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@Phil – Oh, apologies for the double post then, I do not get with me all the comments here.
Yeah that’s funny, I read some old links to HRE like one story from sky news a year ago where the German finance ministry said “…Hypo Real Estate is fundamentally sound, its business model is fundamentally sound…” apparently liquidity problems just somehow happened…?
That Chicago, the Capital of Graft, Failed to Bribe the IOC Is a Wee Irony: There was a solid argument for choosing Rio over Chicago and others for the 2016 Olympics: There’s never been a Games in South America, Brazil merits recognition as a rising power, and two of the next three Olympics are already in the wealthy West (Vancouver and London). Let’s hope the rational argument explains the choice. The real reason Chicago got booted is the corrupt-to-the-core International Olympics Committee is mad at the United States government for exposing IOC bribery demands attached to the Salt Lake City Games. Anyway, here are some of the Olympic events we’ll miss because the Games will not be in Chicago:
• Synchronized Senate seat selling.
• 4X400 city inspector kickback relay. Any dropped exchange of the envelope of cash disqualifies the team.
• Tavern league flag football. After each touchdown, all players must drink a beer. If the game goes into overtime …
• Balance beam blame-shifting. All participants must maintain their political balance while denying being the one who told President Obama he should go to Copenhagen because the fix was already in for a Chicago selection.
• Patronage triathlon. First one to paint the alderman’s house, give gifts to all his nephews and rig a primary wins no-show city job.
@ Stacy – Still listening to the show . . . . But, Max should be able to keep maxkeiser here. Mep was also taken on gravatar, so I chose Mep5 as my username to sign up w/ gravatar.
The govt is buying the banks toxic loans. the loans just happen to have been made out to the best friends of the govt, the property developers.
The govt is buying eur 77bn worth of assets for Eur 54bn . The deal is financed through the ECB. We irish will have to pay billions each just to service the NAMA debt. Most of what is is being bought is overpriced land, billions of euro for green fields, with long term economic value being considered in the price being paid.
Non irish banks are going to get their money anyways by focing liquidations of deadbeat developers.
Joe Stiglitz was on irish TV last night discussing the government bailout issue
“…..but over 10 years the govt wont be earning interest on their investment in the banks/bailouts/etc.., what kind of investment bank would offer loans based on that performance?”
@maxkeiser.com
stacy best Matrix reference so far … ever…and Yeah… y’all a special no thanks… for not knowing how or not helping any of us previously with the avatars… Whereas to WL for touching us all in a special way… Give that man a hand CLAP!!!… geddit CLAP… touching us!!!… oh nevermind.
“Because of unprecedented demand for American Eagle Gold and Silver Bullion Coins, the United States Mint suspended production of 2009 proof and uncirculated versions of these coins.”
@sklein: yes that’s Stanley Sporkin…former chief counsel for the CIA…and Catherine A. Fitts nemesis…and still very active in his law practice…doesn’t he represent Madoff???or some other well heeled financial felonious wizard??
@Frank Hope and sklein: if you both realize you are discussing the same animal…for as long as you or I can remember the congressional budgetary process is but a giant delivery system to the covert operations and private contractors, favored corporations,offshore tax havens, and any number of numbered Swiss accounts…all for the select few…Even the cash for clunkers cost $3 billion to discard the below 20 mpg vehicle fuel costs which would only have saved $350 million in fuel!!!!!!!!!!! Now there’s economics at work!!!!!! Even today as I think about a guy like Thom Hartman and his take on the system and that you have to change from within…is hogwash…as that’s the kind of SDS soldier he was rather than a guy like Mark Rudd who had a more radical approach and the other weathermen refugees who realized they insiders weren’t going to budge or give an inch in the 60′s…Today…we vent here on the Max and Stacy open blog JJ segment…while a complete revolution in financial structuring is taking place right before our eyes…see the archive of the jeff rense show the other night two very estute ladies spoke on this issue…one attended the G-20 meeting and from what I gather all future decisions are vested with the G-20, nullifying the G7/8 finance ministers…..the wagons are being drawn tight and we dear folks are as George Carlin is beloved to have said there’s a club and”we ain’t in it”…
Should the fed raise or keep interest rates at the same level.
I think the fed should find a middle ground one that supports both debt and inflation. You can’t just keep moving the damn thing around anytime you like that’s BULL $HIT
No more FED interest rate bomb shells hitting people
Congressional leaders fight against posting bills online
By: Susan Ferrechio
Chief Congressional Correspondent
October 6, 2009
…”The American people are now suspicious of not only the lawmakers, but the process they hide behind to do their work,” said Michael Franc, president of government relations for the Heritage Foundation, a conservative think tank….
.
.
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What did Obama say … explicitly ?
…. “Transparency , No lobbyists … and the American people will be given time to read new Bills before the Vote is cast ”
For the record, GRAVATAR contains user tracking software.
“Because gravatar is spyware like so many ‘free’ WordPress plugins. It’s whole purpose is to track user activity.”
“Actually, there’s some truth to it. Gravatars do provide data-mining opportunities for Automattic on what sites Gravatar users visit. Considering the lack of ubiquity of Gravatar support on sites, it’s not a terribly good tracking metric, but they undoubtedly do have the metrics.”
Noriega Affaire should already have opened every ones eyes but it didn’t. I hear youngsters who listen to AJ still enlist in the Army and than calling up” Hoe mammie now I have to take the vaccins”. How stupid can you be?
Is America being the designated consumer really all that bad for America. Could a cycle of debt inflation perpetuate America’s Number 1 consumer status forever.
I like that plan Debt followed by inflation reduces debt.
With this plan some else always gets stuck holding the bag
NO economist adds in the BLACK BUDGET that is truly where taxpayer $$$$$ is going! Cathrine Austin Fitts explains,
In 1947 we passed a law called the National Security Act. And then in 1949 we passed a law called the CIA Act. Um, and those two laws gave the intelligence community a legal mechanism whereby they could draw money out of other agency’s budgets with no transparency and no disclosure.
…
Now, if you understand what I understand, then you know that HUD is run by JP Morgan Chase, the Department of Justice, The U.S. Treasury. At the time, Lockheed Martin was paid about 100 Million a year to run all of HUDs systems and accounts. And there is no way HUD can be run as a criminal enterprise unless that group of contractors and banks are running it that way. I mean, you can’t have 4 Trillion dollars… …the depository for the U.S. government is the New York Fed, but the New York Fed runs the exchange stabilization fund which is the big legally authorized slush fund for the government which, I believe, in combination with the 1947 and 1949 Acts allow essentially the Black Budget to source and use huge amounts of financial operations um, not just to finance the Black Budget but to use Black Budget funds to manipulate the stock, bond, gold and other financial markets, um, particularly and including the housing bubble which is something I’d love to touch on because it touches every listener you have.
…
Ya, we passed a series of laws with the National Security Act and the CIA Act that permitted…ah essentially… ah it created a loop-hole that let the Intelligence agencies using the securities and financial mechanism of the Treasury to basically draw huge amounts of money in and out of the financial markets with essentially zero transparency and accountability. Um so we kind of created the siphon …and then in 1980 we added a series of Executive Orders one was an Executive Order that put George H.W. Bush in charge of the National Security Council and enforcement and Intelligence infrastructure. …And so we had the former head of the CIA basically running that mechanism and understanding how to manipulate it and then in addition we ..ah implemented an Executive Order that said private corporations could um handle (through Government contract) highly sensitive National Security operations. ..Um and so we creat… and so here we have a non-transparent way to basically siphon a near infinite amount of money to big corporations with no accountability or transparency. …And then on top of it we passed what thanks to [Gary Webb] we know about is um.. a…we created a memorandum between the Department of Justice and the CIA thanks to Stanley Forkin and KC at CIA that said basically, you know if the CIA knows of drug dealing by its operations including its contractors it doesn’t have to report it. And that kind of… you know the combination of those legal and executive orders infrastructures, George, created a mechanism that was really a license to steal. …And we watched Iran/Contra kind of evolve and the financial fraud in Iran/Contra that I then cleaned up both at HUD and (I was on the cleanup team for BCCI), really explode.
So the American people are corrupt? Americans weren’t good enough for America? “Precisely. They were only good enough to be a restive colonial power – or the dregs of one.” The Senator was a populist, fighting to rally the people against the concentrated power of Wall Street and Big Finance. He represented the cotton farmers who emerged battered from the Civil War, only to be destroyed by Wall Street financiers playing roulette with the global cotton price. Yet there was always a strange contradiction to his life: “My grandfather couldn’t stand his constituents,” Vidal says. “And they loved him for it. Figure that one out.”
Just before Vidal arrived, the poverty-wreathed Guatemalan people had elected a left-wing president called Jacobo Árbenz Guzmán. They wanted him to introduce a minimum wage and start taxing the US mega-corporation, the United Fruit Company, that dominated the country’s only industry, banana-growing. The outraged United Fruit Company acted to preserve its profits – by getting Washington to topple Árbenz and install a dictator. The phrase “banana republic” entered the language.
“I was astonished,” Vidal says. “I had known vaguely about our numerous past interventions in Central America. But that was the past.” He discovered that Senator Henry Cabot Lodge was leading the charge, and “I didn’t believe it. Lodge was a family friend; as a boy I had discussed poetry with him”. He says he realised then he had been fighting “for an Empire, not a republic”. His grandfather, he resolved, had been right all along: wars only serve elites.
Vidal started preaching his grandfather’s gospel of isolationism. “I am a patriot of the old republic that has slowly vanished during the expansionist years and disappeared completely in 1950 when the National Security State replaced it,” he says. “I want us to go from a wartime economy to a peacetime economy, and restore the constitution. We should leave the world alone, before they make us.”
,” he says, and changes the subject, rather oddly, to talk about the Dutch.
But he knew he would kill scores of innocent people: that was the point. Doesn’t that show a callous disrespect for human life? “So did Patton, so did Eisenhower!” he says angrily. “Everybody’s rather careless about it once you start getting involved in wars. He saw this as a war to preserve the Constitution! You know what he said? But you don’t, so I’m going to tell you. The judge [at his trial] quite liked him, and he was intrigued by the fact that this rather talkative kid who wrote tons of pieces for the press had not defended himself. So he said – Mr McVeigh, could we hear more from you? [McVeigh] said, ‘Well, your honour, I will base my case on Justice Brandeis, one of our most brilliant jurists, in his opinion in Olmstead. There, he writes that when government ceases to lead by example and actually provides a bad example, anything can happen. Government is the last teacher. Everything I did, I learned from my government.”
He has had to abandon his second home in the high hills of Italy, and says he misses it. “Italy is such a civilised country. Unlike America.” But is the gap so great? Is Silvio Berlusconi better than Barack Obama? He snaps again: “Who cares? This is showbiz you’re worried about. I don’t care who’s on television telling jokes on the Late Show.”
“This isn’t a country, it’s an American aircraft carrier.”
In one essay, Vidal said the author William Dean Howells at 84 “lived far too long”. He quoted a line Howells wrote to Henry James: “I am comparatively a dead cult with my statues cut down and the grass growing over me in pale moonlight.” Does he feel this about himself? I stare at him and don’t have the heart to ask. He tells me he is unafraid of death. “I’m the least primitive American you’re going to meet, and you have to be pretty primitive to believe in hell. To me hell is the United States of today.”
I believe Fannie Mae and Freddie mac going under is not in the best interest of the government they will not tear these banks down they will support them
Hey Stacy. It was a very good show – lots of good financial information and entertainment value as usual. But honestly, how did you guys manage to talk for a half hour without mentioning the situation with gold and the dollar this week? I guess this was one of those weeks where you easily had enough new financial news to talk for over an hour.
I did an article a few days ago where I used some similar imagery as Max. I described banks using bankruptcies as virtual bombs to threaten the general populace.
“The Big Banks finally figured out a way to cut out all the competing industries from getting their cut of the war budget. The breakthrough came when they realized that they don’t need a war to throw the government into debt – just create a crisis; an economic crisis, a virtual crisis. Spread the same kind of war hysteria among the population that the nation is under threat of being destroyed – not by bombs, but by bankruptcies. Then demand a multi-trillion dollar ransom to save the world from a crisis that they themselves manufactured.”
Just a word on NAMA. The Irish government consists of Fianna Fáil and the Greens. At the Green party general assembly this weekend, a two thirds majority is necessary for the Greens to support NAMA. If the Greens don’t accept NAMA it can’t go ahead because of lack of votes in the house.
@Danny,
“$125 billion to pay salaries and other personnel costs for 1.43 million active-duty troops, including an increase of 22,000 troops for the Army, and a reserve force of 845,000″
Interesting development in Latvia, the headline and ingress reads:
“Banker taget som gidsler i Letland
Den lettiske regering har sat bankerne pistolen for panden i de hårde politiske forhandlinger med det internationale samfund om støtte til den kriseramte økonomi.
Hvis vi skal leve op til de stillede krav, så kommer det til at koste jeres banker dyrt. Sådan lyder den korte udlægning af et hårdt udspil fra Letland, der vil begrænse bankernes muligheder for at kræve deres lån til landets borgere tilbage.”
Translated roughly:
“Banks taken as hostage in Latvia
The Latvian government has put a gun to the head of the bankers in the harsch political negotiations with international community regarding the difficult economic situation.”
If we are to live up to the demands [IMF demands I'm guessing], it will at the expens of your banks. So reads the short exclamation of a harsch outburst from Latvia, which will limit the banks possibilities to demand payment for loans to citizens”
Hey Stacy,
Not forgetting about the UK funding a war by borrowing money.
Also, A lot the NHS is in private hands anyway. Labour government raised money to fund healthcare by borrowing against the massive amount of land that the NHS had. The hospital closest to me, was knocked down about 8 years ago, new flat built in its place and then a brand new hospital built next door. Smaller, more parking spaces and run by an NHS trust which rent’s the building from private finance company.
Of course, this is exactly how they screwed up the trains; private firms could bid for contracts for 10 years to run train lines. But it’s uneconomical to buy a train and make money on it within a 10 year period so they are forced to lease it. So most the money you pay of your ticket goes to paying finance rather than the service.
This is the misconception that our leaders have or have been duped into believing. Banks, cannot be the function of an economy, they help the economy function.
Low interest rates have led Canadians to borrow at a faster rate than during any recession since the Second World War, a CIBC World Markets report said Tuesday.
“Household credit in Canada is defying gravity,” said senior economist Benjamin Tal in a Household Credit Analysis newsletter.
Credit is expanding at an annual rate of just over seven per cent, he said, which he called “a very strong performance given the recessionary conditions.”
Growth in personal bankruptcies, year ending July ’09
Alberta 72%
B.C. 49.2%
Ontario 32.4%
Canada 32.0%
Quebec 23.9%
Atlantic 22.6%
Man./Sask. 21.3%
Source: CIBC Economics
Tal attributed the increase to low interest rates.
While his analysis found total household debt rose by $44 billion in the first six months of 2009, interest payments fell by $3 billion.
The amount of mortgage debt is rising at a rate of 7.8 per cent a year and mortgage holders behind in their payments are up .42 per cent, the highest rate since mid-2002, Tal said. He predicted that would continue to increase over the next year.
Consumer bankruptcies across the country rose more than 30 per cent during the year ending in July 2009. Alberta led other provinces by a wide margin with an increase in personal bankruptcies of 72 per cent.
i don’t know if you have interviewed him yet… but very worthwhile…
http://www.martinarmstrong.org/economic_projections.htm
@dan valley
Watching the 1988 video about Ron Paul does not surprise me. He is the only US politician that I have seen and scrutinized that has been unfailingly true to his message and pure in his character. I love Ron Paul.
@Supergeek: yes the dimly lit room…and the “sex” meant to be “ex”…
The gravatar is a section of Mars..the entire full view in on one of my email sites….I guess I have to learn how to shrink it to size…sorry about the 3 card Monty loss…I actually at a very low point in my not very illustrious career was a member of a crew who moved from truck stop to truck stop…
@maxkeiser.com
cheers for the show.. really enjoyable… huh… the shorter NZ show is like the 7″ edit/mix compared to the 12″ extended mix for resonance radio!!!
Britain’s not bust. So don’t use it as an excuse to impose cuts
“So is the world – and Britain’s history – bankrupt, or is Cameron’s reasoning? In all indebted countries, there have always been people who warned that the fiscal sky was about to fall in. In 1752 the philosopher David Hume cried: “Either the nation must destroy public credit, or public credit will destroy the nation.” As the great historian Thomas Macaulay explained: “At every stage in the growth of the debt it has been seriously asserted by wise men that bankruptcy and ruin were at hand. Yet still the debt went on growing, and still bankruptcy and ruin were as remote as ever.”
http://tinyurl.com/ya2py36
Mystery as Iran nuclear scientist disappears
http://tinyurl.com/ybnbru9
the article makes no mention of the IAEA views. I think it’s just trying for a bit of cold war style excitement
Millions of pensioners will go cold as energy prices soar
http://tinyurl.com/yabree3
Re: “Gold”,…….do you think Tolkien was trying to tell us something!!
http://www.youtube.com/watch?v=Gk4Ntcq5uNg
@ Phil….Being in thailand and below sea level….Im watching .
While everyone is worrying about Gold, something else is happening :
Latest Earthquakes Magnitude 2.5 or Greater in the United States and Adjacent Areas and Magnitude 4.5 or Greater in the Rest of the World – Last 7 days
http://tinyurl.com/28842d
Notice the Depth Column ( Km. ) , and how many Big Quakes are at over 500 Km. in depth.
Not a good sign IMO !
Don’t worry about Gold, worry about this IMO :
Latest Earthquakes in the World – Past 7 days
Latest Earthquakes Magnitude 2.5 or Greater in the United States and Adjacent Areas and Magnitude 4.5 or Greater in the Rest of the World – Last 7 days
http://earthquake.usgs.gov/eqcenter/recenteqsww/Quakes/quakes_all.html
Notice the Km-Depth column !
Some pretty big ons at 500+ Km. depths, which IMO not a good sign.
FWIW
1058
@richard 30 degrees
nice avater…what it is???… uhmmm stacy hiring or needing a ‘sex navy seal’ I’m not sure of the reason… but I think you may be spending too much time in the dimly lit rooms… not that I don’t myself… get a grip (sorry bad pun!!!) also as I mentioned last week I lost my first wage packet to the ‘three card monty’ I think it may have scarred me for life!!!
I bought silver on monday.. since then silver has gone up 10%.. something is coming!
And gold is 1057 almost. Wow..
Gold 1056
Latvia threatens foreign banks with huge losses
“Dombrovskis has proposed new laws limiting liability in the case of mortgage default to the current market value of the property – meaning colossal potential losses for the banks, since most property borrowers are in negative equity.
“Mortgage borrowers can hand in the keys to the bank, and not be liable for anything,” said Danske Bank, describing the scheme as “draconian”. An economist at another Scandinavian bank in Riga said: “This would be economic suicide. The lending would stop overnight. You won’t be able to rely on Latvian law. Foreign direct investment will go down.”
http://tinyurl.com/ydcydbt
Goldman-Sachs tryied to controll the programming line up for CanWest media company in Canada. As Max has said, Goldman-Sachs is if not already, entering every man, woman and childs home on the planet.. right before our eyes…
“Financiers working with Goldman said that over the past year, the investment bank put forward programming ideas for the TV networks, and offered strategic advice on restructuring, but was ignored by CanWest management and its creditors.
One concept that’s been tossed around, but couldn’t move forward until CanWest recapitalization was set, would see Goldman Sachs provide programming and financial support to the conventional television network as part of a larger deal that reworks the entire ownership structure to more closely align all the TV holdings.”
In pure Celente-language.. who the fuck do these guys think they are!
http://www.zerohedge.com/article/why-goldman-advising-canwest-its-programming-line
oops heres the link
http://media.abovetopsecret.com/media/3402/Ron_Paul_The_American_Power_Elite_-_Part_3_-_Vintage_Video_from_1988/
RON PAUL FROM 1988…laying out the SDRs that the fed and other central banks will use to maintain power of printing money and creating credt…must see
gold moving 1054.70
@ youri…rodgers is not so much a good human as much as hes had a change of heart…..more I think to do with his own mortality rushing into view.
@ youri…they crashed the pound and thai baht together …they cofounded the millenium hedge fund .
@Max: Well Stacy it appears you are concerned for your well being as you make plans to travel to So America…just open an account in the Bank of the South and the rip will be well worth it…it’ sex Navy Seal Jesse Ventura you need to hire…and why aren’t you a guest on his upcoming LA “conspiracy” radio show???or am I mistaken?
A must listen to audio, Some of you already have, but I had to listen again its so good
Michael Hudson:
Guns and Butter – Dress Rehearsal For Debt Peonage
http://aud1.kpfa.org/data/20090826-Wed1300.mp3
@dan valley
Donnow Jim Rogers seem to be a good human and Soros a bad rep. I heard they worked together in the past or somtin, donnow much about it?
Soros funds infiltration of 9/11 truth, election protection, and “independent” journalism.
http://onlinejournal.com/artman/publish/article_4391.shtml
(George Soros article by Wayne Madsen back in Feb)
Gold hit 1050
hahahaha
http://www.theaustralian.news.com.au/story/0,25197,26182241-12377,00.html
this reminds me of max & stacy speaking about irish unicors or whatever ! !
@ Youri……Id ove to know what the fallout between Soros and Jim Rodgers was.
Soros is sooooo dirty sooo sooo sooo dirty.
http://media.abovetopsecret.com/media/3400/Ron_Paul_The_American_Power_Elite_-_Vintage_Video_from_1988/
@Max: BYW…TAM NZ….love the way u have today recall of Three Card Monty…and that at the last hand the dealer allows the sucker to win …small……got experience????
Soros Calls U.S. Banking System `Basically Bankrupt’ Vid http://tinyurl.com/ydb8v6a
Massive Ordnance Penetrator: Another Sign Obama Will Strike Iran http://tinyurl.com/y8gzgqr
The Pentagon has moved the MOP to the fast track because the Iran attack plan is now operational and will probably be carried out before the end of the year.
“the military clientele satisfied with spoils…and the democratic critics occupied with national ambitions”….
Anglo-Persian War 1856-57
Opium War 1856-1860
Indian Mutiny 1857
Amerikan Civil War……..
sound familiar????
… do my reporting http://tinyurl.com/ye3r3gg
@Phil
Still wondering if it has anything to do with HAARP or that it is connected to this going to the center of the Universe Maya thing?
Have to do more research for that but do my reporting http://tinyurl.com/create.php
Have too many subjects to go into deep but some day will.
Senate health bill pegged at $829 billion http://link.reuters.com/quc62f
Tectonic Plates hit again …
Earthquake 8.1 : Santa Cruz Islands
http://www.emsc-csem.org/index.php?page=current&sub=alert&id=t6633;2009
Lots of other big ones as well …
http://www.emsc-csem.org/index.php?page=current&sub=msg
http://news.yahoo.com/s/ap/20091007/ap_on_go_co/us_budget_deficit
Its BAD!
Mike
Wow! Maybe there are more of “us” than we expected there to be http://tinyurl.com/ycy2tpa
Breaking News here is the Def-a-sit in the US is FAR WORSE than expected?
Mike
ppsstt . . . Grayson and Paul are asking Congress to postpone Bernacke confirmation:
http://www.huffingtonpost.com/2009/10/07/ron-paul-alan-grayson-ask_n_313055.html
http://www.youtube.com/user/feveriam?blend=1&ob=4
he has also made some good predictions at the beginning of 2009
Rachel Maddow Discusses Blackwater Funding Versus ACORN with Jeremy Scahill
http://www.youtube.com/watch?v=0ypAqwFyHqc&NR=1
1/ IF the USA needed gold to prop up their currency/economy, they would be invading countries to control their GOLD mines, not OIL wells.
(I hope they don’t invade Canada; we have BOTH.)
2/ China is smart by simply BUYING companies that produce oil/gas/minerals ALL OVER the planet.
(Using US Treasury Bonds to do so. Notice shift in the ultimate holders of USA IOUs.)
3/ IF the rumoured Oil Trading Basket Currency is to be weighted with gold, gold would have already shot up to some staggering amount (not 2% increase).
Video — six year old Nostradamus in Columbia predicts Obama assassination attempt in October…
http://www.liveleak.com/view?i=2c3_1243398359
This kid in Columbia has a pretty decent track record… he’s even located kidnapping victims. In late March, he was profiled by local TV (following flooding and landslides which he foresaw) and predicted that there would be an assassination attempt on Obama in five months…
Nice to see all the animal gravatars! Stacy, esp… great pic.
Bob mentioned Max Keiser
Bob Chapman Oct 6 2009 part 2
http://www.youtube.com/watch?v=sBZrBCsPr_A
Stacy,
Have you seen how Sweden is in trouble related to Latvia?
http://www.nakedcapitalism.com/2009/10/sweden-prepares-for-financial-collapse-in-latvia-and-major-bank-losses-at-home.html
Not a happy story indeed.
which “economies” aren’t based on DEBT; exactly??…do some comps….you’ll be surprised about relative debt metrics.
Here we go again
UN calls for new reserve currency
http://www.google.com/hostednews/afp/article/ALeqM5gIxkD4gVqrrAaL_byxq75287MWHg
Really enjoyed all the posts yesterday, Y’all seem very pensive today, the quiet before the storm?
OP
The Aspire Act
“The ASPIRE Act would give each child born in the United States a $500 savings account. Recipients could then use that money once they were older to pay for education, a first home, or retirement. Low-income children would receive additional funding, and all participants could add to their accounts over time.
Lawmakers are expected to reintroduce the ASPIRE Act before the end of the year, and it already enjoys bipartisan support. The main challenge for supporters will most likely be over how to justify the cost at a time of great budget deficits and competing demands for federal dollars. Critics argue that the program would simply create another costly entitlement program. Writing for the Portland-based think tank Cascade Policy Institute, policy analyst Sreya Sarkar says the program would provide benefits to one generation by taxing another.
Over the first decade of its life, the program would cost around $37.5 billion, and would start at around $3.25 billion per year. Cramer argues that because the money would be invested through the savings account, it would help spur economic growth. Lawmakers sponsoring the bill have said they would pay for it by making other cuts, but the bill doesn’t specify what those cuts would be.”
http://finance.yahoo.com/news/Coming-Soon-500-for-Every-usnews-3217986354.html?x=0&.v=1
BTW…see Mish’s latest post on China….don’t forget to look at the PBOC figures.
Max….the “financing” of the US debt….done by China & others is vendor financing….it is accomplished by PRINTING Yuan to sell….in order to BUY FDI offers of Printed Dollars.
THEY exchange their CONFETTI for our Confetti…without this “method”; there is not a respective current “power structure” any where in the world that would be intact tomorrow morning.
C’mon Max…you don’t really believe any of this East India sorcery is Real on anyone’s part…do you???
One big Kubuki & THEY are all in!!.
Another good show, but why does the outro music have to be so much louder than the audio content?!
Matt Taibbi on How Goldman Sachs Has Been Robbing Us Blind
http://www.youtube.com/watch?v=3DA6EY-iPjM
China calls time on dollar hegemony http://tinyurl.com/yc4bxd7
Obama : Judge Confirms Eligibility Trial to Proceed
http://www.aipnews.com/talk/forums/thread-view.asp?tid=8737&posts=4
A report into how $15.3 million in gold went missing from the Royal Canadian Mint will be released within a month, the Conservative government said Tuesday.
From: Report on Canadian Mint’s missing gold a month away http://tinyurl.com/ya2f839
…”he’s an investigative journalist – none of you have ever met one – here’s you’re chance to see exactly what they look like…”
Nice
Greg Palast at Fighting Bob Fest–Armed and Dangerous!
http://www.youtube.com/watch?v=bQg-rx5MPWY
Gross National Product (GNP): How is it Calculated? What does it Measure?
GDP = C + I + G + (X – M)
Where:
C = Household and personal consumption expenditures
I = Gross private domestic investment expenditures
G = Government consumption and gross investment expenditures
X = Expenditures on goods and services exported
M = Expenditures on goods and services imported
(Removing X and M from the formula yields Gross Domestic Product.)
1. It does not measure production; it measures sales.
2. It omits all the money spent in the underground economy.
3. It doesn’t distinguish between money spent in a gambling casino and money spent on a car. Money spent in a gambling casino doesn’t buy a product or a service.
4. It doesn’t distinguish between quality and quality.
I.E. it’s bullshit.
http://www.globalresearch.ca/index.php?context=va&aid=14886
@ Dan – How fitting that the assumption would be that Americans need incentive to save.
Italian court throws out Berlusconi immunity
By Stephen Brown and Silvia Aloisi
ROME (Reuters) – Italy’s top court ruled on Wednesday that a law granting Prime Minister Silvio Berlusconi immunity from prosecution violates the constitution, in a verdict that will reopen trials against him and may undermine his government….
…
…
http://www.reuters.com/article/topNews/idUSTRE59649920091007
Hooray !
Tons of prediction date in this article :
Global Business Cycle, showing economic confidence & activity
It peaked on a relative basis in late December 2004, and is headed down through January 2006. Global economic confidence will turn back up into a major relative peak in late February 2007.
http://tinyurl.com/b77elg
Interesting where they see Gold in 2009 !
Dug out some older links .. just in case anyone is interested…
List of countries by current account balance
http://tinyurl.com/2dzwf8
List of countries by GDP (nominal)
http://tinyurl.com/y2pn7u
+ + +
( 2009) Gold (Inflation Adjusted)
http://tinyurl.com/yak3365
( 2007 ) The Coming Credit Crunch
http://tinyurl.com/y8r2evt
( 2005 ) Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse
by William Clark
“This notion that the United States is getting ready to attack Iran is simply ridiculous…Having said that, all options are on the table.”
– President George W. Bush, February 2005
http://tinyurl.com/6cmfkx
( 2003 ) Not Oil, But Dollars vs. Euros
http://tinyurl.com/ycx6x9k
( 2003 ) Dollar vs EURO — Weapons of mass destruction
http://tinyurl.com/2d8b4m
Hi Max and Stacy.
Your Jingle “Karmabank” in the beginning and end of every show is TOO LOUD. Please adjust it. Thanks
Dug out some older links for your interest …
List of countries by current account balance
http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance
List of countries by GDP (nominal)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
+ + +
( 2009) Gold (Inflation Adjusted)
http://www.ritholtz.com/blog/2009/10/gold-inflation-adjusted/
( 2007 ) The Coming Credit Crunch
http://www.gold-eagle.com/editorials_05/mchugh032407.html
( 2005 ) Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse
by William Clark
“This notion that the United States is getting ready to attack Iran is simply ridiculous…Having said that, all options are on the table.”
– President George W. Bush, February 2005
http://www.energybulletin.net/node/7707
( 2003 ) Not Oil, But Dollars vs. Euros
http://www.globalpolicy.org/component/content/article/173/30447.html
( 2003 ) Dollar vs EURO — Weapons of mass destruction
http://www.thinkandask.com/news/thedollar.html
Coming Soon: $500 for Every Newborn?
http://finance.yahoo.com/news/Coming-Soon-500-for-Every-usnews-3217986354.html?x=0&.v=1
Did Alex Jone say, “Betrothed”?!?
Just Heard Stacy on the AJ Show – Premiere I quess aha!
That was a frickin’ great interview on AJ
Max…the reason the dollar is going down:….EVERYONES’ liabilities are in dollars; while their assets are in non-dollars(equities//bonds//commodities)…well over 50%of the revenues & profits of the S&P 500 are “abroad”….ie pay your liabilities off in a depreciating currency; while inflating your non-dollar “assets” in appreciating currencies….it’s just another currency arb.
Please remember that 4 of the 5 tire companies that were “tariffed” were Non-Chinese JV’s….Japan, Europe, US.
The new currency & SDR’s are just new ways to “print” NEW DOLLARS…..after all, we just lost 100 trillion OLD DOLLARS in the last two yrs(worldwide)….got to make that up some how.
A TCI developer has invoked the heimat to strangle a journalists IP identity out of GMail?
http://wikileaks.org/wiki/Google_still_not_fighting_subpoena_for_journalists%27_data
I’m surprised they haven’t employed the FBI CIPAV yet…
http://web17.webbpro.de/index.php?page=cipav
Speaking of which, does the gulag wealth fund have fusion centers in it’s portfolio?
http://antifascist-calling.blogspot.com/2009/10/fbi-data-mining-programs-resurrect.html
U.K. Faced ‘Bank Runs, Riots’ as RBS and HBOS Neared Collapse
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMfETcYI2t7Y
Why Is the UBS Whistle-Blower Headed to Prison? http://tinyurl.com/yd24wyr
@Chalconite ..
Goto : http://en.gravatar.com/
Everything is explained there !
How do you get an avatar?
MAX coming up on AJ NOW!
@Phil – that makes me wonder what the definition and use of “sound” has moved to be nowadays.
@marietta
Yep, AJ back – Completely reset my connections ahah!
@NickInGermany … Dreadfully underfunded.
I agree .. that is the problem, not the system and certainly not the staff !
I am totally impressed with the NHS doctors and staff from my father’s and mother’s experiences.
But I am with you on “underfunded” …totally !
@ Nick – The answer is certainly not to start adopting the US system. Do that, and those 25 people won’t even be in a neglected hospital room, they’ll just be left to die in an alleyway or something.
UK NHS is certainly NOT run brilliantly, and hasn’t been for many years. One of the most depressing experiences I ever had was visiting my grandfather in L&D hospital. Not because he was in a sorry state, but that the conditions on his ward were truely dreadful. 25 beds in one horribly neglected room. People groaning. Disoriented old folk wandering around. Truely dreadful. Dreadfully underfunded.
PS@Palantíri … HRE
Here’s a Google translation of part of the following link about HRE and IKB from January 2009 :
Systemic Blackmail
http://geld-arbeitet-nicht.jimdo.com/systemische-erpressung/
FROM : Die strukturierten Finanzprodukte basieren auf der Verbriefung langfristiger Kredite. IKB und HRE……..
TO : …….. Bilanzen der Banken zusätzlich belasten.
… The structured financial products are based on the securitization of long-term loans. IKB and HRE financed the purchase of these products with short-term loans. They made “long” credit “short”. One strategy already tried in Germany – the Munich-based financial brokerage Rudolf Münemann 1970 – failed catastrophically using this method . From “long” make “short” works only as long as it is possible to make sure of a follow-up financing for the existing loans. As it turned out that the vaunted financial innovations relate primarily bad loans, the refinancing was no longer possible. Banks refused to IKB and the HRE as well as the regional banks new loans. When the American government refused to pay the debts of Lehman Brothers, the inter-bank lending came to a halt completely. The demise of Lehman Brothers was a consequence and not the cause of the rampant financial speculation. Increases, the financial needs of the bankrupt banks by the fact that structured financial products traded as securities have dramatically fallen in value, must be partially written off completely and strain the balance sheets of the banks also….
connection to AJ is back
@ Photoception – Pirate My Health Care would be a good title, too.
WTF is the UK thinking? People just got all up in arms there about the US assaults on the NHS. So they should be well-prepped to smack down any talk of privatizing the NHS.
@ All – Today, AG Holder and the Education Secretary, Arne Duncan are in Chicago talking about the increased violence there among the youth. What’s missing so far from the TV coverage of press meetings is that Arne Duncan was the CEO in charge of Chicago Schools before going to Washington. It’s looking like his pro-charter school/pro-corporate/pro-privatization stance is responsible for the increased violence and deaths:
http://www.google.com/hostednews/ap/article/ALeqM5g29TkoHOX3-KkNwrK25co1nDyqMwD9B5S3IG0
IMO, privatization of schools is where the main force of privatization is now in the US. The Washington Post just wrote a pro-charter school piece a few days ago, charter schools are on the rise in LA, and there was an entire propaganda show about charter schools on MSNBC recently.
So yes, “recovery” seems to = stealing even more from the commons and whittling away at quality of life even more. But back to the UK, I sure hope that the people there put up a good fight.
Max is supposed to be on Alex Jones int the next hour. But the broadcast keeps repeating a short segment and then disconnecting . Is anyone else having trouble?
@Palantíri … HRE
IIRC, HRE also has something to do with the “Verbriefung” ( Securitization ) of German Real Estate .
Some months ago, they mentioned that this would have WW effects if HRE went down !
As I said … IIRC .. not too sure , but think it was in reference to HRE !
Now this is a damn good idea ….
Labour Behind the Label, as part of the Asia Floor Wage alliance are calling for a widespread and systematic change to the way garment worker’s wages are calculated and paid. This change will not only include action on the part of singular brands and retailers, but collaboration together with other brands, and action taken by national governments and industry to raise minimum wage levels.
..
..
http://www.labourbehindthelabel.org/campaigns/asiafloorwage
Start with all those Noble Brand names !
@Phil – Oh, apologies for the double post then, I do not get with me all the comments here.
Yeah that’s funny, I read some old links to HRE like one story from sky news a year ago where the German finance ministry said “…Hypo Real Estate is fundamentally sound, its business model is fundamentally sound…” apparently liquidity problems just somehow happened…?
this was from http://sports.espn.go.com/espn/page2/story?page=easterbrook/091006&sportCat=nfl
great common tater
More rumours from The Independent:
http://www.independent.co.uk/news/business/news/dollar-tumbles-on-report-of-its-demise-1798713.html
The sicko’s throw it right in your face. Look at your Google today: http://img.photobucket.com/albums/v393/youricarma/Miscellaneous/BarcodeGoogle10072009.jpg
A ‘genetic code reader’ could make personalised genome analysis much cheaper, according to IBM. http://tinyurl.com/ycxj7bu
That Chicago, the Capital of Graft, Failed to Bribe the IOC Is a Wee Irony: There was a solid argument for choosing Rio over Chicago and others for the 2016 Olympics: There’s never been a Games in South America, Brazil merits recognition as a rising power, and two of the next three Olympics are already in the wealthy West (Vancouver and London). Let’s hope the rational argument explains the choice. The real reason Chicago got booted is the corrupt-to-the-core International Olympics Committee is mad at the United States government for exposing IOC bribery demands attached to the Salt Lake City Games. Anyway, here are some of the Olympic events we’ll miss because the Games will not be in Chicago:
• Synchronized Senate seat selling.
• 4X400 city inspector kickback relay. Any dropped exchange of the envelope of cash disqualifies the team.
• Tavern league flag football. After each touchdown, all players must drink a beer. If the game goes into overtime …
• Balance beam blame-shifting. All participants must maintain their political balance while denying being the one who told President Obama he should go to Copenhagen because the fix was already in for a Chicago selection.
• Patronage triathlon. First one to paint the alderman’s house, give gifts to all his nephews and rig a primary wins no-show city job.
@ Stacy – Still listening to the show . . . . But, Max should be able to keep maxkeiser here. Mep was also taken on gravatar, so I chose Mep5 as my username to sign up w/ gravatar.
just a word in regards to NAMA.
The govt is buying the banks toxic loans. the loans just happen to have been made out to the best friends of the govt, the property developers.
The govt is buying eur 77bn worth of assets for Eur 54bn . The deal is financed through the ECB. We irish will have to pay billions each just to service the NAMA debt. Most of what is is being bought is overpriced land, billions of euro for green fields, with long term economic value being considered in the price being paid.
Non irish banks are going to get their money anyways by focing liquidations of deadbeat developers.
Joe Stiglitz was on irish TV last night discussing the government bailout issue
http://www.rte.ie/news/primetime/
“…..but over 10 years the govt wont be earning interest on their investment in the banks/bailouts/etc.., what kind of investment bank would offer loans based on that performance?”
@Stacy, It’s I who should thank you!
@Palantíri …”The German State takes over the large bank Hypo Real”
I posted on this yesterday … with the emphasis on “they did it quietly” .
HRE is supposedly systemically important BTW.
“Super-Highway of Fraud” could be a title for pirate my film.
@Mongo – thanks for the link and translation to that article about Latvia; we are going to try to cover that next week . . . so the article is helpful
17,000 … Single payer MD’s not invited to White House
http://www.youtube.com/watch?v=hm6JB9DXgC4&feature=sub
Make Health-Care not War !
800 Bio$ for DEFENSE … peanuts for them I suppose !
The German State takes over the large bank Hypo Real Estate making it fully state-owned. This is a first in modern German history. http://www.dw-world.de/dw/article/0,,4759152,00.html
Time to listen in on the TAMNZ show!
‘Wall Street’s Naked Swindle’ Matt Taibbi
http://www.youtube.com/watch?v=jROtFPhiFGU
Is Iceland fucking stupid or what? Take the Russian deal and tell the UK and IMF to piss off. It’s a no-brainer.
@Supergeek – love the avatar pic! nice shirt!
@maxkeiser.com
stacy best Matrix reference so far … ever…and Yeah… y’all a special no thanks… for not knowing how or not helping any of us previously with the avatars… Whereas to WL for touching us all in a special way… Give that man a hand CLAP!!!… geddit CLAP… touching us!!!… oh nevermind.
Dried-up stream beds of credit:
http://www.nytimes.com/2009/10/07/business/economy/07shadow.html?em
“Because of unprecedented demand for American Eagle Gold and Silver Bullion Coins, the United States Mint suspended production of 2009 proof and uncirculated versions of these coins.”
http://www.zerohedge.com/article/us-mint-suspends-production-american-eagle-gold-and-silver-bullion-coins-due-unprecedented-d
@Phil
Obama is a Junk who also do and are exactly the same the say they are. I am an honest guy my town junk used to say.
Othert Tip: Double all American figures to get some closer to the true figures so 10% unemloyment = 20%, Spend 11 Trill= 22 Trill and so on…..
@sklein: yes that’s Stanley Sporkin…former chief counsel for the CIA…and Catherine A. Fitts nemesis…and still very active in his law practice…doesn’t he represent Madoff???or some other well heeled financial felonious wizard??
http://subrealism.blogspot.com/2009/10/gore-vidal-united-states-of-fury.html
Oops. My bad…
US Gored…
@Frank Hope and sklein: if you both realize you are discussing the same animal…for as long as you or I can remember the congressional budgetary process is but a giant delivery system to the covert operations and private contractors, favored corporations,offshore tax havens, and any number of numbered Swiss accounts…all for the select few…Even the cash for clunkers cost $3 billion to discard the below 20 mpg vehicle fuel costs which would only have saved $350 million in fuel!!!!!!!!!!! Now there’s economics at work!!!!!! Even today as I think about a guy like Thom Hartman and his take on the system and that you have to change from within…is hogwash…as that’s the kind of SDS soldier he was rather than a guy like Mark Rudd who had a more radical approach and the other weathermen refugees who realized they insiders weren’t going to budge or give an inch in the 60′s…Today…we vent here on the Max and Stacy open blog JJ segment…while a complete revolution in financial structuring is taking place right before our eyes…see the archive of the jeff rense show the other night two very estute ladies spoke on this issue…one attended the G-20 meeting and from what I gather all future decisions are vested with the G-20, nullifying the G7/8 finance ministers…..the wagons are being drawn tight and we dear folks are as George Carlin is beloved to have said there’s a club and”we ain’t in it”…
The MOnion ROom : More American Workers Outsourcing Own Jobs Overseas (Video)
http://www.fundmymutualfund.com/2009/10/onion-more-american-workers-outsourcing.html
Should the fed raise or keep interest rates at the same level.
I think the fed should find a middle ground one that supports both debt and inflation. You can’t just keep moving the damn thing around anytime you like that’s BULL $HIT
No more FED interest rate bomb shells hitting people
Congressional leaders fight against posting bills online
By: Susan Ferrechio
Chief Congressional Correspondent
October 6, 2009
…”The American people are now suspicious of not only the lawmakers, but the process they hide behind to do their work,” said Michael Franc, president of government relations for the Heritage Foundation, a conservative think tank….
http://www.washingtonexaminer.com/politics/Congressional-leaders-fight-against-posting-bills-online-8340658-63557217.html
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What did Obama say … explicitly ?
…. “Transparency , No lobbyists … and the American people will be given time to read new Bills before the Vote is cast ”
… or words to that effect !
Iran Sees U.S. Role In Researcher’s Disappearance
http://www.rferl.org/content/Iran_Sees_US_Role_In_Researchers_Disappearance/1845819.html
California Looks To Russia To Help Preserve Historic Settlement
http://www.rferl.org/content/California_Looks_To_Russia_To_Help_Preserve_Historic_Settlement/1841800.html
For the record, GRAVATAR contains user tracking software.
“Because gravatar is spyware like so many ‘free’ WordPress plugins. It’s whole purpose is to track user activity.”
“Actually, there’s some truth to it. Gravatars do provide data-mining opportunities for Automattic on what sites Gravatar users visit. Considering the lack of ubiquity of Gravatar support on sites, it’s not a terribly good tracking metric, but they undoubtedly do have the metrics.”
http://enthusiasm.cozy.org/archives/2008/05/gravatar-wordpress
“doesn’t hold back!” Damn brain, too fast for my fingers
I really like jim willie. Like max, he just hold back, so its probably a good idea he moved to Costa Rica.
All in all, looking forward to friday. But wheres the Keiser Report on Russia Today? Are you still recording episodes?
And for anyone that cares, Ian Brown’s new album is top!
@stacyherbert
So, who’s the real Max?
“The” or whitout? “The”
While you’re all admiring each other’s Avatars …
Russia Today : Turkish PM manhandled by US Secret Service
…Disagreements over security measures have reportedly led to a scuffle between Turkish Prime Minister and US President Barack Obama’s bodyguards….
http://russiatoday.com/Top_News/2009-09-24/turkish-pm-manhandled-us.html?fullstory
Will the real max keiser please stand up?
@themaxkeiser
Nice avatar
When gold goes to $5000 an ounce maybe we pool our gold and silver to buy a country…think of the possibilities…….just sayin
Mini US:
Stephen Green of HSBC is, I believe, a former reverend/minister of some sort, so in case …
Max, look forward to hearing you talk to Jim Willy.
@Youri – someone took the username maxkeiser at gravatar
@themaxkeiser
Yep The Jim Willie, very good stuff!
@sklein
That’s how it works indeed.
Noriega Affaire should already have opened every ones eyes but it didn’t. I hear youngsters who listen to AJ still enlist in the Army and than calling up” Hoe mammie now I have to take the vaccins”. How stupid can you be?
this week’s ON THE EDGE is a good one! guest; Jim Willie
Is America being the designated consumer really all that bad for America. Could a cycle of debt inflation perpetuate America’s Number 1 consumer status forever.
I like that plan Debt followed by inflation reduces debt.
With this plan some else always gets stuck holding the bag
@sklein … ” Cathrine Austin Fitts explains ”
Yep ….100%
NO economist adds in the BLACK BUDGET that is truly where taxpayer $$$$$ is going! Cathrine Austin Fitts explains,
In 1947 we passed a law called the National Security Act. And then in 1949 we passed a law called the CIA Act. Um, and those two laws gave the intelligence community a legal mechanism whereby they could draw money out of other agency’s budgets with no transparency and no disclosure.
…
Now, if you understand what I understand, then you know that HUD is run by JP Morgan Chase, the Department of Justice, The U.S. Treasury. At the time, Lockheed Martin was paid about 100 Million a year to run all of HUDs systems and accounts. And there is no way HUD can be run as a criminal enterprise unless that group of contractors and banks are running it that way. I mean, you can’t have 4 Trillion dollars… …the depository for the U.S. government is the New York Fed, but the New York Fed runs the exchange stabilization fund which is the big legally authorized slush fund for the government which, I believe, in combination with the 1947 and 1949 Acts allow essentially the Black Budget to source and use huge amounts of financial operations um, not just to finance the Black Budget but to use Black Budget funds to manipulate the stock, bond, gold and other financial markets, um, particularly and including the housing bubble which is something I’d love to touch on because it touches every listener you have.
…
Ya, we passed a series of laws with the National Security Act and the CIA Act that permitted…ah essentially… ah it created a loop-hole that let the Intelligence agencies using the securities and financial mechanism of the Treasury to basically draw huge amounts of money in and out of the financial markets with essentially zero transparency and accountability. Um so we kind of created the siphon …and then in 1980 we added a series of Executive Orders one was an Executive Order that put George H.W. Bush in charge of the National Security Council and enforcement and Intelligence infrastructure. …And so we had the former head of the CIA basically running that mechanism and understanding how to manipulate it and then in addition we ..ah implemented an Executive Order that said private corporations could um handle (through Government contract) highly sensitive National Security operations. ..Um and so we creat… and so here we have a non-transparent way to basically siphon a near infinite amount of money to big corporations with no accountability or transparency. …And then on top of it we passed what thanks to [Gary Webb] we know about is um.. a…we created a memorandum between the Department of Justice and the CIA thanks to Stanley Forkin and KC at CIA that said basically, you know if the CIA knows of drug dealing by its operations including its contractors it doesn’t have to report it. And that kind of… you know the combination of those legal and executive orders infrastructures, George, created a mechanism that was really a license to steal. …And we watched Iran/Contra kind of evolve and the financial fraud in Iran/Contra that I then cleaned up both at HUD and (I was on the cleanup team for BCCI), really explode.
http://www.wallstreetbear.com/board/view.php?topic=61551&post=204424
Snip-byts from: Gore Vidal’s United States of fury http://tinyurl.com/yccub2c
TnX @gonzomarx
So the American people are corrupt? Americans weren’t good enough for America? “Precisely. They were only good enough to be a restive colonial power – or the dregs of one.” The Senator was a populist, fighting to rally the people against the concentrated power of Wall Street and Big Finance. He represented the cotton farmers who emerged battered from the Civil War, only to be destroyed by Wall Street financiers playing roulette with the global cotton price. Yet there was always a strange contradiction to his life: “My grandfather couldn’t stand his constituents,” Vidal says. “And they loved him for it. Figure that one out.”
Just before Vidal arrived, the poverty-wreathed Guatemalan people had elected a left-wing president called Jacobo Árbenz Guzmán. They wanted him to introduce a minimum wage and start taxing the US mega-corporation, the United Fruit Company, that dominated the country’s only industry, banana-growing. The outraged United Fruit Company acted to preserve its profits – by getting Washington to topple Árbenz and install a dictator. The phrase “banana republic” entered the language.
“I was astonished,” Vidal says. “I had known vaguely about our numerous past interventions in Central America. But that was the past.” He discovered that Senator Henry Cabot Lodge was leading the charge, and “I didn’t believe it. Lodge was a family friend; as a boy I had discussed poetry with him”. He says he realised then he had been fighting “for an Empire, not a republic”. His grandfather, he resolved, had been right all along: wars only serve elites.
Vidal started preaching his grandfather’s gospel of isolationism. “I am a patriot of the old republic that has slowly vanished during the expansionist years and disappeared completely in 1950 when the National Security State replaced it,” he says. “I want us to go from a wartime economy to a peacetime economy, and restore the constitution. We should leave the world alone, before they make us.”
,” he says, and changes the subject, rather oddly, to talk about the Dutch.
But he knew he would kill scores of innocent people: that was the point. Doesn’t that show a callous disrespect for human life? “So did Patton, so did Eisenhower!” he says angrily. “Everybody’s rather careless about it once you start getting involved in wars. He saw this as a war to preserve the Constitution! You know what he said? But you don’t, so I’m going to tell you. The judge [at his trial] quite liked him, and he was intrigued by the fact that this rather talkative kid who wrote tons of pieces for the press had not defended himself. So he said – Mr McVeigh, could we hear more from you? [McVeigh] said, ‘Well, your honour, I will base my case on Justice Brandeis, one of our most brilliant jurists, in his opinion in Olmstead. There, he writes that when government ceases to lead by example and actually provides a bad example, anything can happen. Government is the last teacher. Everything I did, I learned from my government.”
He has had to abandon his second home in the high hills of Italy, and says he misses it. “Italy is such a civilised country. Unlike America.” But is the gap so great? Is Silvio Berlusconi better than Barack Obama? He snaps again: “Who cares? This is showbiz you’re worried about. I don’t care who’s on television telling jokes on the Late Show.”
“This isn’t a country, it’s an American aircraft carrier.”
In one essay, Vidal said the author William Dean Howells at 84 “lived far too long”. He quoted a line Howells wrote to Henry James: “I am comparatively a dead cult with my statues cut down and the grass growing over me in pale moonlight.” Does he feel this about himself? I stare at him and don’t have the heart to ask. He tells me he is unafraid of death. “I’m the least primitive American you’re going to meet, and you have to be pretty primitive to believe in hell. To me hell is the United States of today.”
I believe Fannie Mae and Freddie mac going under is not in the best interest of the government they will not tear these banks down they will support them
Fannie, Freddie plan to aid mortgage banks: report
http://www.reuters.com/article/ousivMolt/idUSTRE5960N620091007
Proof Fannie mae is not going under
founded in 1938 during the Great Depression
Gold move not confirmed by backwardation:
http://www.zerohedge.com/article/gold-move-not-confirmed-backwardation
France Telecom workers launch two-day strike after suicides
http://www.totaltele.com/view.aspx?ID=449597
Hey Stacy. It was a very good show – lots of good financial information and entertainment value as usual. But honestly, how did you guys manage to talk for a half hour without mentioning the situation with gold and the dollar this week? I guess this was one of those weeks where you easily had enough new financial news to talk for over an hour.
I did an article a few days ago where I used some similar imagery as Max. I described banks using bankruptcies as virtual bombs to threaten the general populace.
http://futurenewstoday.blogspot.com/2009/10/matt-taibbis-and-wall-street-racket.html
“The Big Banks finally figured out a way to cut out all the competing industries from getting their cut of the war budget. The breakthrough came when they realized that they don’t need a war to throw the government into debt – just create a crisis; an economic crisis, a virtual crisis. Spread the same kind of war hysteria among the population that the nation is under threat of being destroyed – not by bombs, but by bankruptcies. Then demand a multi-trillion dollar ransom to save the world from a crisis that they themselves manufactured.”
@Macy
Just a word on NAMA. The Irish government consists of Fianna Fáil and the Greens. At the Green party general assembly this weekend, a two thirds majority is necessary for the Greens to support NAMA. If the Greens don’t accept NAMA it can’t go ahead because of lack of votes in the house.
Kiwistan odds and sods news:
Auckland’s SPCA enters the War Against Terror?
– http://www.aardvark.co.nz/daily/2009/1007.shtml#continue
@Danny,
“$125 billion to pay salaries and other personnel costs for 1.43 million active-duty troops, including an increase of 22,000 troops for the Army, and a reserve force of 845,000″
Wow, Haliburton rocketed on this I guess?
@Danny .. 700 Bio$ on DEFENSE !
LOL … I thought they’d already taken 4 Trio$s they couldn’t explain ( 1999-2001 ) !
Senate passes $636 billion defense spending bill
http://www.reuters.com/article/businessNews/idUSTRE59604820091007
You’ve got to laugh….
Interesting development in Latvia, the headline and ingress reads:
“Banker taget som gidsler i Letland
Den lettiske regering har sat bankerne pistolen for panden i de hårde politiske forhandlinger med det internationale samfund om støtte til den kriseramte økonomi.
Hvis vi skal leve op til de stillede krav, så kommer det til at koste jeres banker dyrt. Sådan lyder den korte udlægning af et hårdt udspil fra Letland, der vil begrænse bankernes muligheder for at kræve deres lån til landets borgere tilbage.”
Translated roughly:
“Banks taken as hostage in Latvia
The Latvian government has put a gun to the head of the bankers in the harsch political negotiations with international community regarding the difficult economic situation.”
If we are to live up to the demands [IMF demands I'm guessing], it will at the expens of your banks. So reads the short exclamation of a harsch outburst from Latvia, which will limit the banks possibilities to demand payment for loans to citizens”
http://borsen.dk/finans/nyhed/167436/
Coca Cola in the news again
Watchdog bans vitamin water adverts
http://uk.news.yahoo.com/21/20091006/thl-watchdog-bans-vitamin-water-adverts-d831572.html
Hey Stacy,
Not forgetting about the UK funding a war by borrowing money.
Also, A lot the NHS is in private hands anyway. Labour government raised money to fund healthcare by borrowing against the massive amount of land that the NHS had. The hospital closest to me, was knocked down about 8 years ago, new flat built in its place and then a brand new hospital built next door. Smaller, more parking spaces and run by an NHS trust which rent’s the building from private finance company.
Of course, this is exactly how they screwed up the trains; private firms could bid for contracts for 10 years to run train lines. But it’s uneconomical to buy a train and make money on it within a 10 year period so they are forced to lease it. So most the money you pay of your ticket goes to paying finance rather than the service.
This is the misconception that our leaders have or have been duped into believing. Banks, cannot be the function of an economy, they help the economy function.
Ok, now its getting weird.
Are they getting God?
HSBC boss says banks owe apology…..
http://news.bbc.co.uk/2/hi/business/8293981.stm
And the sideshow:
Canadian household debt swells to $1.3 trillion
http://www.cbc.ca/consumer/story/2009/05/26/canada-household-debt854.html
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Canada already has enough debt, what does it need with more debt?
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Consumer borrowing in Canada ‘defying gravity’
http://www.cbc.ca/consumer/story/2009/10/06/consumer-borrowing-soars.html
Low interest rates have led Canadians to borrow at a faster rate than during any recession since the Second World War, a CIBC World Markets report said Tuesday.
“Household credit in Canada is defying gravity,” said senior economist Benjamin Tal in a Household Credit Analysis newsletter.
Credit is expanding at an annual rate of just over seven per cent, he said, which he called “a very strong performance given the recessionary conditions.”
Growth in personal bankruptcies, year ending July ’09
Alberta 72%
B.C. 49.2%
Ontario 32.4%
Canada 32.0%
Quebec 23.9%
Atlantic 22.6%
Man./Sask. 21.3%
Source: CIBC Economics
Tal attributed the increase to low interest rates.
While his analysis found total household debt rose by $44 billion in the first six months of 2009, interest payments fell by $3 billion.
The amount of mortgage debt is rising at a rate of 7.8 per cent a year and mortgage holders behind in their payments are up .42 per cent, the highest rate since mid-2002, Tal said. He predicted that would continue to increase over the next year.
Consumer bankruptcies across the country rose more than 30 per cent during the year ending in July 2009. Alberta led other provinces by a wide margin with an increase in personal bankruptcies of 72 per cent.