Stacy Summary: The Truth About Markets, Resonance 104.4 FM.
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November 7th, 2009 by
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Max explains Wall St.'s financial terrorism to radio listeners in Moscow
Link suggestion:
Deflation or Inflation. What’s in the Cards for Canada?
http://americacanada.blogspot.com/2009/11/deflation.html
It is in reply to one of Mish’s posts — but the points made are true for a lot of the Canadian mortgage belt.
What is lacking in the analysis is what the implications are for smaller Canadian cities like the Kamloops or the Goose Bays of the nation.
@WL – yeah, I more-or-less agree. I guess what I mean is highly leveraged speculation on financial instruments, where it’s possible to scalp the market — i.e. most speculative activity nowadays… speculators should ideally only have a small role in the beloved “price-finding mechanisms”. A tobin tax, based on the the entire contract value — instead of the margin, would go a long way to discouraging institutional scalping (which probably makes the banksters more than tobin revenue would) and speculative bubbles, e.g. oil.
I don’t see how HFT would function with a sizable enough tobin tax, for example…
Another goog option would be to go back to a more de-centralized system of analog/pit-traded markets, and demand immediate settlement on-site in gold!
@cholly
The original is better music… but I thought you might still enjoy!!!
http://www.youtube.com/watch?v=h2216ou0MIY
@SG Thanks… it’s um… nice. Fruity power chords to soothe the soul.
I mean jazz chords. Needs more power chords. Anyone who has spent much time in south America can tell you that Fruity Jazz is an abomination.
The melt value of nickels at current copper and nickel prices is now 4.6 cents.
I always assumed that pension funds were run on behalf of heartless capitalists with the purpose of screwing workers out of their pensions.
@y’all
Kennedy and World Gold&Currency Markets.
http://www.youtube.com/watch?v=FgplIWibv4Q
Hey max i was thinking that if you go looking for Ken Lay and you happen to find him that would make some people very angry and they then would blackball you or threaten you, possibly tell you to say or not to say thing that you would like to. Here is my angle if this were to happen you need a red light word or secret word that you could say to your public and we would know you have been put in a corner such as (white rabbit) or (Oboma loves pizza) just a thought.
Geithner, Brown Split on Tobin Tax at Group of 20 Meeting http://tinyurl.com/yldwmcf
Treasury Two-Year Notes Gain on 10% Unemployment, Fed on Hold http://tinyurl.com/yfspsmt
FSB Says Some Big Banks Still Too Optimistic on Their Health http://tinyurl.com/yhtuhg6
@y’all
Capitalism (1948)
http://www.youtube.com/watch?v=_VstTwFxNKk
Me: Economy still imploding like it is and more explosions are predicted while the people on the Hill still act as if the music plays although nobody can hear it.
Bernanke also makes a show from the interest rate tension in the financial markets. I acts as if he easily could rase these rates without concequense exactly opposite of the truth, he can’t! Bernanke manouvered himself in the corener between a rock and a hard place, he can’t go anywhere but down.
Fed Pledges to Keep Rates Low for ‘Extended Period’ http://tinyurl.com/yjsqhcd
No hints, winks, nods from Fed about rate hikes http://tinyurl.com/yfbe5rr
Food Stamps Will Feed Half Of US Kids, Study Says http://tinyurl.com/ybpq3nb
Costco plans to accept food stamps nationally http://tinyurl.com/ykway5v
“Nerds 2.0.1: A Brief History of the Internet” Robert X. Cringely
http://www.imdb.com/title/tt0207264/
Geithner, Brown Split on Tobin Tax at Group of 20 Meeting http://tinyurl.com/yldwmcf
Nobody liked my 9/11 idea
but people are willing to trade Carbon Credits Ssshhhesh
Final Push comming shortly
Just before the Lisbon Treaty at Coppenhagen
Pelosi: Buy a $15,000 Policy or Go to Jail
Clinton Connects Overpopulation to Climate Change
@Phil – you are comparing pounds to dollars; £165 billion in loan to Lloyds equals $273.9 billion . . . that’s more than 10% of UK GDP
@Max & Stacy
Good Show, Realy Insanely “The Right Stuff” Folks!
I think Max Keisers Docu “Captured presidents, imploding LBOs ” explains all very well what went wrong in the financial business. Somtin that’s going on right now as we speak.
Max Keiser: Captured presidents, imploding LBOs http://tinyurl.com/yb9tgrn
@Stacy .. thanks for the correction .. 10%+ .. Oh dear !
Great show. Thanks
Attitude of mainstream financial media is shameful and they deserve to be decimated.
p.s: can someone of the treasury department please offer Krugman a job? It is so obvious!
@WL:
“Religion is just formalized and structured faith.
Faith is the bridge between perception and reality and that is where opportunity wanders. It is part of the human condition which can be used for good or evil. So, religion is a neutral.
To be against religion is to be against the human condition or humanity.”
I said I wasn’t particular to religion. I’m not against or for religion in the context of adhering to faith. I don’t believe that religion is neutral. Religion is a means by which dogma, faith considered true and objective by a group of humans, is advanced for the personal benefit of the group proselytizing. The human condition is rife with one group of humans foisting their religion upon another group as a means for control over labor or productive capacity. The human condition is antithetical to religious hegemony.
One can be ‘against religion’ as a form of religious adherence called atheism. Atheists are not ‘against humanity’ any more than Baptists as long as both groups respect each individual’s right to form a basis of faith independent of statis hegemony.
@frances
Do you have faith? Don’t atheists have faith? One can have faith without the formally organized religion. Since humans can never attain truth, faith always exists in the gap of perceived knowledge and truth, unless one is a psychopath.
Do you have faith in anything?
Do you have faith in the US dollar? A formal structure..
Do you have faith in gold?
I do not adhere to any formal religion either. Don’t atheists have faith that there is no god?
It is that space between perception and realty that all good or evil can exist. That space is faith like a knife it can be used for survival or death. A neutral.
@WL;
I think we are at splitting words which to me is a meaningless exercise. No. I have no faith in anything except change. I adhere to a faith in transcience, and yet I hope for transcendence seeing as the shackle of human is upon my flesh.
Would you like to point to me a transcendental signified to which I might plaster my longing? You seem quite keen upon gold. But your experience with gold is reliant on myths and fables. When did you last use your gold to attain what you desire. You have become Silas Marner, agonizing over a yellow metal: hoping the objectified desire that labor might prolong personal pleasure in a transfer onto a metal. An alchemy of mystical mindsprock.
The price of gold today is reliant only on a fiat system created, run, and maintained by criminals.
“unless one is a psychopath”
Who gets to decide the categories? Seems rather powerful position to have: I decide you are not human. Perhaps human defies definition? Tags are better served on meat in the supermarket.
@WL:
What is your definition of truth?
To me, truth is an agreed-upon-construct based upon shared language and cultural mores. I reject truth and cling to true. The basis of my understanding, like yours, is subjective and special and shouldn’t be ironed out on a board. Life has wrinkles, you know.
@frances
So the US$ is a truth? until it isn’t
Truth is a destination never reached. We can get close, but never attain it.
From your previous posts I gather you don’t really understand gold. You seek its truth, you will not find it. It is a store of wealth, just as farmland is. Yet it is portable, divisible and virtually indestructible. Its price is not its value. Its value is in its unique properties not esoteric dogma.
You still have it backward, gold is not priced in fiat. Fiat is prices in gold.
@WL:
I’m not seeking truth! If I were I’d wear a habit and go about muttering Latin and fingering beads or stand on my head with my ankles crossed and my eyes buggering out. I told you my faith is only in change, and since words themselves are changelings I find it far better to leave TRUTH to you gold-bugs whilst I procure good reading materials and some wine.
Do you really believe that fiat is priced in gold? Have you just yet touched down from Neptune? Those gold websites are all riddled with holes: the men in charge own the souls of men when those men throw down their souls for gold or rembini or dollars or paper document claims: they exchange vehicles are SIGNS that have been OBJECTIFIED and nothing more.
Real ownership will prove itself through force. It always does.
@frances
Ah, but you are seeking truth, it is human. In books or wine, verbose analogies but how do you keep wealth? If you have no wealth gold is not useful.
If you had 1 million in US cash right now, what would you do with it?
@frances
Have to agree with you on the Gold Bugs. Their belief in gold is religious like. Some of them will benefit some of them will get burned. And no Gold is priced in dollars at least at this point.
http://www.dailyreckoning.com.au/gold-is-more-like-a-religion-or-a-political-position/2009/09/21/
@WL:
There is a difference between being a glutton for literature and wine and an active pursuit of abstinence necessary for true piety. Burp. I have no faith that the end would not be the beginning so I don’t toot the hoot.
I say feed the soul and let the body starve: so I am long on wine and books. Not practical but essential.
I million in US $? Are you gifting this or is it a rhetorical question?
Preserve wealth by learning to speak loon: Bill Gross seems quite wise. Can you translate winks, shakes, and nods (as Dedo put it)? How good are you at sucking up? Do you mind throwing ethics in the bushes for personal advancement?
If you say yes to the above then your chances are better at preserving wealth than if you believe in “honest money”.
“opportunity lies between perception and reality”
I started to accumulate gold in 2001 at under $300 US and opportunity has been very good to me.
Gold value is constant, fiat currencies rise and fall, unless you understand that you will never understand gold.
Of course there a re many crazy gold bugs, that is a good thing.
@frances
Sounds like a sidestep.
Its not an all or noting deal, gold, wine and books. One of the best thing one can do for humanity is to buy gold and get out of fiat. Your inference that gold is unethical is self destructive.
@merci
Good Gold article thanks
Honesty and ethics or NOT priced in Gold any more than they are prices in USD
Of course Y’all know that it just bares repeating.
Gold is the enemy of central banks..
I own gold
Therefore, I am the enemy of central banks
Who the hell are you
“One of the best thing one can do for humanity is to buy gold and get out of fiat.”
Lordy, Pa! That was something like. Pastor Bud is sure shootin those Jesus words at us, ain’t he?
Yep, Stella. I think he’z a’right bout the dollar being the devil’s bride. I’m sure nuff glad we got Grannie’s teeth! I’m a’fixin to sell Bounteeful to buy’us s’more gold.
Pa! You wouldn’t sell our mule! What’s we gonna hitch to the wagon fur to get to meetin’s?
Pastor Bud say’n itz the ornley way to gets rid of them Commie-nest Central Bankers. Like’n at the Federal Reserve. We’z buy gold and sink the dollar ship full’n them rats.
Well, Pa. I ain’t right particular to bankers, but I sure do love Bounteeful. You sure that Pastor Bud is right?
Shoot, Peanut. Ain’t no way we can go wrong we’z put our faith in honest money! Why, Even Moses done used gold coins. If’n its in the Bible, its good nuff for me.
Yessir. Guess I gotta go blow kisses at Bounteeful. Gold’s so cold: it ain’t much fun to kiss. But I’m all fur helpin save the world, Pa. I wouldn’t want to let the world down just fur lovin a mule!
@WL
I am the enemy of the Bankers also, I just do not believe gold ownership will bring any change.
Somehow, I do not think they quake in their boots or lose any sleep over gold.
So, for those that don’t like gold (silver too).
What should I do with all my fiat assuming I sold my gold?
Cash?
Bonds?
Stocks?
Beer?
????
I own land with no mortgage.
You see, it is the best alternative.
FWW, I believe farmland is a close second to gold as preservation of wealth.
“Who the hell are you?”
Pa! Who the hell am I?
Steller! You fixin to get yur mouth sudsed!
I’m right sorry, Pa. This’n here goldy- man said I was who the hell, and I wondered, well who the hell am I?
I’m tellin ya, Steller. One more cussin word and you’z a fixin fur to eat some soap.
Stella, you is Stella. Ain’t that a’right, Pa?
But, Ma. Maybe it ain’t enough just-to-be Stella. Maybe I gotta be somethin more and help out the world.
Glory Steller! Ain’t you a’figured out yet you’z special? Don’t ya worry anysome bout them Yankees. (ersplatz) They’z got minds bout as broad as a hog’s behind; think they’z be a’ knowin more and a’ sellin less be fur the best fur the world. Snap up and get right purty. I’z a’takin you to town!
Circus in town?
@WL:
Stella says, thankee, but no’sir she t’aint been to the circus. Stella said you should’to go since’t you seem so tight screwed down like a nail a’sittin crosshairs on Bounteeful’s hoof. Stella said the only’est thing she’sees fit to last is male pride. She sayz Pastor Bud probably got someofthat and she ain’t a’ gonna sell Bounteeful for some hard cold yeller stuff you can’t chew nor spit.
But she is particular to this poem and said you could to save it since it is lasty.
It’s a might long, so she a’linkin it fur ya. It’s called “The End of the World”:
http://theotherpages.org/poems/gp1_2.html
@frances
At least I can use my gold to prop open the gates of hell.
@frances
You still sidestep
What do you do with $1 million US cash?
@WL: Stella says:
“Goldy-Man! Don’t a’prop em open! Pile the gold ‘gainst them gates to keep’em shut!”
@WL:
Me? I’d buy a lovely sailing yacht, stock it with provisions, and sail the seven seas with enough ammo to fend of the pirates. I’d pierce my ears and swagger and sing jaunty songs.
Guess your too responsible to do that.
I take your refusal to answer confirmation of your denial.
Thats ok, most people are that way.