Stacy Summary: Keiser Report.
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ref. max keiser – Get 6 mo’s free storage
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Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
fiat money and the french revolution
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crash banksters – Buy Silver & gold
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Unos I was right
Hic
@Max
Does Dignitas sell the organs aftet that ? Cerberus could ser shop in Hati too. Great supply of treshly dying people. Great place for the organs and the blood if you aren’t too picky. Ahhh! Might as well wait a little bit for Iceland, Ireland and UK’s foreclosure. Indeed. I expect a really oversupply of organs for the coming months. A lot of cannibalistic competition coming.
The biggest terrorist is paper.
Gitmo USA supreme whore court.
Max
Please could you wrap Stacy in Bubble wrap & send her to me………..I WANT a TOB to make up for the rocketing £!
Mike
Artificial reminds of the movie Surrogates (2009) http://www.imdb.com/title/tt0986263/
the Geithner tape makes my essential point….Geithner wants to stabilize the system so that people can BORROW(ie. pay him & his cronies terribly inflated prices to secure their MONOPOLIY & HEGEMONY….this Geithner is the perfect PATSY….he is eessentially so STUPID…he did not understand the ABSURDITY of what he’s saying. The Man is Manchurian.
If we lived in a Capital system…our production would generate sufficient savings(capital) and we would not NEED to borrow…rather we would be in a position to LIVE & LEND.
Their Capitalism is Debt to Peonage to Power. Power is simply MONOPOLY.
I want the Freedom to Produce(capital)…not CONSUME(debt)
Obama the Brand tells us what we want to hear, in great deal, proving that he truly understands.
Obama the Person is a protege of war criminal Henry Kissinger, who had Italian prime minster murdered. Obama the person was selected by and is a vassal of the Bilderberg mafia, who want to destroy the US middle class, privatize everything, eliminate all handouts to the poor, and expand the prison/gulag system. Not surprisingly, Obama the person’s first real job was for the CIA front company Business International.
This Fred Harrison is a genus. He is 100% right. Land and brick and mortar are dead wood. Burn it. The wealth generated by land and real estate is ridiculous microscopic on a long term basis. 2% % maybe or even less ? 10 years of lost economic output ? It’s already the case. So in reality it’s 20 years of waste.
Max your Overall notions about China are Absurd & Insulting.
The so-called Money that China has is pure Warlord Confetti.
Haha, maybe bernankes time is over?
Volcker for FED-chief!
Market continues to head downwards…
…I wonder if this is a sort of “threat” … until Bernanke is reconfirmed ?
@turbulence
It’s time for Bernanke to move on http://tinyurl.com/ydouoen
Harrison is a good guest. He & Hudson share many ideas. Tax rents; not income.
The Historical perspective goes back to Henry VIII taking the church’s Land to refurbish the Nobles. Shorting thereafter, the Commons was destroyed by the Enclosure Acts to enforced the RENT market…prompting the “attitudes towards Labour that he mentions. The French repeated the Scam during the Revolutionary period with the Assignats.
His ideas are generally sound with spotty Histoouy. However, his notions of goods manufacturing & Labour costs are ASSININE. Machines make things; not people. Labour costs are not the issue. The ownership of the Machines is the ISSUE
For example…how many people make lightbulbs??
There are 18 steel manufactures in a world of 6 Billion…that is 300 million customers per shop….that’s the problem. I say let’s have 18,000 steel manufactures…then you’ll see innovation, competition, production… and much lower prices….and much more FREEDOM…..PROGRESS.
Harrison’s remedies would not displace monopoly production….just shift around the ability to “subsidize” it.
Labour costs are only 3% of Manufacturing…forget about it…Everybody fell for this nonsense to enable the de-industrialization of the WEST.
Although, we still make a pretty decent aircraft carrier, attack submarine, orsupersonic bomber….go figure. Those labour rates we can still afford…how curious.
I get conflicting information from Harrison and he seems to be defeating himself.
If nobody’s working, there’s no income tax to pay. So we are already 25% there Nationally. How can you tax income when there’s massive unemployment? You can’t.
Taxing rents? What about the homeowners who already pay property tax? States are so dependent on property tax, that during the free fall in property value, they had to turn to raising sales tax.
THE ONLY WAY OUT IS TO BARTER. YOU CAN’T TAX INCOME THAT ISN’T THERE. YOU CAN’T TAX A SALE THAT NEVER HAPPENS. LET THE RENAISSANCE BEGIN!!!!!!!!!
WALK AWAY FROM YOUR DEBTS. BARTER YOUR REMAINING POSSESSIONS.
The US was bought and paid for a long time ago. Even Harrison could concedes that it merely “changes hands” every 18 years. The fact is, all banks want your home. Once the banks seize the land and devalue the dollar, you have nothing left. Game over, you slave!
But if we barter, the exchange doesn’t involve government taxation or banking fees. There’s no obligation to either party in a country that’s already bought and paid for – so why continue to pay?
travel to any manufacturing facility you want, anywhere….and tell me how many people you see making things…it’s all machines//robotics….NO PEOPLE.
That’s one of the very genuine problems the Goldman sachs of the world are up against….that’s why everybody is now in the Bullshit//Servicing business….Machines make Products not Humans.
Even in China…the loss of manufacturing jobs is staggering.
The Answer: spread the machines around…..Quantitative Production….Harrison is right about Retaining Capital(taxes)….make the first 100,000 free….and take away subsidies on the other side….will restore much needed balance & equilibrium….Risk is to be diffused like a Box Spring…not concentrated like an Atomic Bomb.
People don’t merely want to be richer. They want to be richer than others. Landlords are a fearful control and social status seeking lot. They want position rather than competition. It’s a battle against a well-positioned group of mentally ill people who have shifted not only the law but also the culture to suit their illness. The battle to create a better overall good versus those who want betterment for themselves at any cost for fear of being on a low rung of the social ladder, is age old. And for every successful control freak coward their is a mob of stupid cowards basking in the relative comfort and protection of their leader’s success. It hard to sell vision to people who are threatened with immediacy by these leaders and their minions.
Fred Harrison! At last!
Cheers for that.
http://www.landvaluetax.org
It wasn’t “potato”. It was “potatoes”!
So, landlords are now in your list for the ‘axis of evil’, DanielS? My goodness, you do assign mental illness on great swathes of people of whom you know absolutely nothing.
Re land, I think your guest’s idea is problematic:
You can deal with cheap imports by simply blocking their entry.
About housing. Look at how the Czech Republic leaped forward post-Communism, compared to other Eastern European countries. It was helped in large part by the fact that housing was state-owned and therefore rents were very cheap. There was and is no need for the parasitic middlemen who own the land and buildings. They have a corrosive effect on the economy. Get rid of them and you will boost the local economy.
Long-term there is no competing with oppressive police states economically. You have to defeat them militarily.
@snoot
Not the landlords but those that speculate like crazy with leverage. In the USA they should abolish income tax deductibility for interest on the loan for buying your own house.
In Canada interests are only deductible if you buy to rent. Banks ask higher percentage of cash down. It makes quite a difference. Nothing is perfect. There is Vancouver. But Vancouver is a suburb of Hong Kong and opium drug dealers,
It’s not normal having a country like Spain for example.
Peeps always want property near the Centre of the City
Still not clear what Harrison meant wil have ta listen again.Nobody wants to spend 2 hrs a day in traffic
Tis suggestion will never work
See where the head quarters of all banks in major citys are located ; Its always in the centre
At the end of 12 days ya spent your 13th day in ya car.
or 120 days 10 days in the car or one whole freakin month a year in your car
Hic
@Marc
He is indeed.
Check out his 1997 prediction of the coming crash.
The Chaos Makers: The Dreamers & The Deceived by Fred Harrison (1997) (PDF)
http://renegadeeconomist.com/wp-content/uploads/2009/04/the-chaos-makers.pdf
More on the land perspective
Dr. Michael Hudson — The New Road to Serfdom: An Illustrated Guide to the Coming Real Estate Collapse (PDF)
http://michael-hudson.com/articles/debt/Hudson,RoadToSerfdom.pdf
http://en.wikipedia.org/wiki/Geolibertarianism
@Jim
interesting thoughts re: capital. Hmm…
Why do we have to pay tax on the interest? Marc: why don’t you worry about the covered bond monopoly benefitting your country at the expense of the US due to our ‘regulations’ coming out of Europe?
The regulations feed into the greed of those in Europe who stand to benefit by the demise of our capitalist system.
““I agree that this is extremely positive for the market as a whole, and it will be interesting to see what develops with the other issuers rumored to be considering a US$ transaction,” Basu says. “This should encourage momentum in the US towards legislation, to allow US issuers to tap into this pool of private money.””
http://www.housingwire.com/2010/01/27/new-us-dollar-covered-bond-program-coming-from-canada/
Y’all are going to benefit from the basel 2 regulatory structure on securities. And you want to take the pittance away from American homeowners! I call that hypocrisy, Marc.
Marx was right on some things, but obviously paid to put forth themost inappropriate remedy
http://en.wikipedia.org/wiki/Rentier_capitalism
frances snoot
Jan 28, 2010 at 10:02 am
Re: Your excellent post on another thread: gold.
Well, I agree about the gold bubble. And this next move I don’t wanna miss. About a month ago I resolved to empty my brokerage money market fund account and replace it with Goldcorp common. The process has begun with a partial buy just a few minutes ago.
The stock in the past few weeks has chrashed down through its rising 200 moving average. [Oh thank you Gold Gods]. I will continue to buy here or below until my fiat is “all gone.” No margin here just real live ownership of common.
And as they say in Texas Hold’em: I’m All In And Holding The Nuts.
let No One forget….the Only issue to be addressed…the CORE….is the TRANSFER & EXTRACTION by the Political Non-Productive Class from the Productive Non-Political Class…..WE must return to Exchange; not Transfer.
The Political Class must be Reduced….the Non-Political Class must Expand…..a return to Exchange…a retreat from Transfer. Once that happens all other attending matters(money) will recede to a very suitable Equilibrium.
@Daniel S
Re: Middle-class rentier mental illness.
True!
the STATE must SHRINK….SOCIETY must GROW.
@Jim:
The middle class need capital to expand against the .01percent who have advantage: if the regulations restrict capital lending, how will the unjust verge be melded?
ind2www, Just my wild guess. But it really seems income tax is nothing but a process that is a purposeful handicap to help cripple the people. It serves no purpose but to handicap the person. The tax on income basically is thrown in the dumpster of the money owed to the fed. And as we know the dept to the fed will never be paid. Its one of the biggest lies of all time. The experts usually moan and wail that we’ve got to pay down the dept. Ahhhh, YOu’ll never pay down the dept. The dept like income tax is nothing but a tool to control people. YOu’ll never be able to pay it back.
What does this mean?
http://www.reuters.com/article/idUSWNA274320100128
Mike
After Lotta thinking “Its all crap what he suggested”
First Stop is to stop all these Proxy wars of aggression
And for Govt.s to get smaller
Period In the words of Peter Schiff “thats all Nonsense !”
Hic
@in2dwww the IRS is ahead of you on the barter idea… they want “their” cut, no matter what you do: http://www.irs.gov/taxtopics/tc420.html
Ok ya got a house with a swimming pool good keep it
I aint interested in War I live in a small flat and thats fine by me
By the way 50 % of all infant fatalitys occur in private pools
Hic
A nice firendly tune from the land of OZ to be played for Geithner, Bernkanke and others. Put on a loop until they get the message.
http://www.youtube.com/watch?v=-TC2xTCb_GU&feature=player_embedded
@snoot
About the middle class. The Democrats and Obama is godamn NAZI. That’s it. And the Republicans too.
Where did you dig this guy up? He is just a land grabber
Adolf Hitler Geithner won’t lose his job. Don’t worry about that. The fuckin place is a banana republic. An O-banana republic. And Bush-Hitler wouldn’t be different. See the stock racket is crashing today ? Return to reality. Things are just great at the Pentagone since this piece of manure is there. 30% increase in war budgets while civilian economy raped by Goldman Nazi Sachs bonuses explode and arm’s sales rocket. Viva la guerra you Obananan Nobel Paece Winner of manure. WAR IS PEACE. 1984.
@Adam.C,……Glad you decided to come back Adam,.: )
Francis….the Middle Class writ large via 1) taxes 2) education 3) health care 4) mandated pensions…. transfers their entire “production” to the STATE & its Agents…..there is no possible way they can “retain” capital. for purposes of production & independence…as intended. THAT’s why there is so much DEBT. Debt is the make-up//patch-over for the lack of Capital…the lack of Production.
There are four administrative levels of the STATE…..1)Federal 2) State 3) County 4) Village…..nobody can get through that…as intended.
Who gets first dibbies on that ‘communal tax’? It sure ain’t the people he’s claiming it will benefit.
buying stocks or bonds or real estate is NOT INVESTING…..it’s betting, primarily on Gov policies.
Saving & starting a lolly-pop factory is INVESTING.
I’ll be that that are not two people of this site who know anyone that actually makes something for a living…other than noise or paper work.
We stop paying tax to the federal, Jim, as a group of protest. We continue to allow access to credit for the small business through the distruction of the CFPA idea. We starve Washington and her proxy agents from whom she acquires her agency.
We maintain that the state structure is to be upheld over the federal.
We don’t allow regulation of competing currencies through the federal. That’s the problem with Ron Paul’s idea.
Our adherence to federal administration is voluntary.
@ jim
‘There are 18 steel manufactures in a world of 6 Billion…that is 300 million customers per shop…. that’s the problem.’
I agree, but to have 18,000 steel shops would take big govt. anti-trust laws to be resurrected and enforced. Unfortunately, we are not the government, we are the governed.
Reduce the Military Industrial Complex by 60 % 70 %
Nobody wants what USA has to offer so they wont get Invaded 30 % strong can protect em from any threat
Hic
That in itself would help out the US the most
@Max
Now you had a sucky guest imho Max hadn’t you (sorry about that, won’t patronize again)..
I don”t like this guy. He is using the global economy to motivate a shift towards land tax. Anybody that accepts the global economy forgets it is and has been artificial. He accepts speculative booms and busts (also artificial). His argument is generally incoherent. He is simply makeing sure governments can tax people in the future, as he knows land use will become more important..
It is not rocket science, so the high and mighty attitude is not warrnted imho..I must be in a pricky mood..
@mommy
In the interest of not polluting this page with your nonsense, please go here:
http://maxkeiser.com/2010/01/28/rip-howard-zinn/comment-page-2/#comment-79243
Minus 32 ! In ROMANIA my grand-mother and grand-father country. You warmers should go live there. 33 deaths just in Romanie the las two days, IPCC criminals.
Paul Volker says we control both presidential candidates to George Green (banker). Scroll ahead to the 7:00 minute mark to hear conversation.
http://www.youtube.com/watch?v=5uTGLiKBvh8
Nooooooooooooooooooooo!!!!
We’re being scammed!! A-fucking-gain!
In that Geithner clip, notice that he mentioned the House bill; he walked away from the Volcker Plan. In the State of the Union last night, Obama did the same thing!! He talked about the need to reform the banking system and mentioned the HOUSE bill, which he said he hoped the Senate would take up.
The biggest features of the House bill, as far as I remember, are:
1) “reforming” compensation practices by giving shareholders a say on pay
2) limiting the Fed’s unilateral ability to inject large amounts of money into financial institutions
3) stripping away the Federal Reserve’s consumer regulation authority and, instead, subjecting it to a broad audit by Congress’ investigative arm
4) creating a resolution regime that will apply to large financial institutions (never mind that the prompt corrective action LAW already exists)
The real problem is the public-private charade.
When timmy, hank, and the rest of kissengers associates are in the private sector, they are considered the smartest guys in the room, demanding massive compensation for their divine competence. But the moment they take public office they suddenly become zealously incompetent. And as soon as they return to their private offices they become piously brilliant again,
ready to fulfill the no-bid contract of god’s outsourcing.
@Mother Earth
Cheap land and cheap real estate is VERY GOOD for the middle class and ordinary people. Instead of wasting your energy on CO2 taxes, you should applaud this freakin genius ! He is abosolutely right. Real estate is DEAD WOOD. Tax it to death. That way you could buy for peanuts and noboby would speculate on it. Max and Stacy. Please reinvite this guy. Does he have an internet site ? He is TOTALLY right about bricks and mortar.
Watching the Bernanke debate. Judd Gregg is auditioning for a job as a Fed lobbyist.
LOL . . . 12 most unethical corporations in the world. Before clicking on it, guess who is #1!
RIP J. D. Salinger.
@ james
If you want to talk “land grab”, think high-speed rail or smart grid.
@Marc:
For the first time I have to say that Mother Earth is right. The tax on land is to make up for the loss in income tax money. It is a scam to call it a service to the middle class.
green shoots of recovery?
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/01/27/BA4T1BOGCV.DTL
OMG, Senator Mark Pryor of Arkansas just got time during the Bernanke debate to make a speech praising a football coach.
Astounding.
@ Frances
“Our adherence to federal administration is voluntary.”
Better verify that one with Irwin Schiff.
http://en.wikipedia.org/wiki/Irwin_Schiff
Yes, he is Peter’s father.
@Sherri:
It is voluntary: the IRS is illegally overstepping their boundaries.
We spend out time lamenting the criminal US .gov and then pay their criminal agents money which they have no legal jusridiction to collect. The money goes to support our military which engages other people in other lands in a criminal overstepping of bounds through UN santimony.
We put our chains on voluntarily.
Check out this shill-piece:
Britain can relax on its bed of nitroglycerine:
Negative comments about British bonds are not the problem – but the campaign against our most successful industry is
http://www.timesonline.co.uk/tol/comment/columnists/anatole_kaletsky/article7005279.ece
Starve the beast? The beast collects for the elite famlies through the central banks and through federal taxation. We will continue with increased taxation and a loss of services: the inverse proportion to our voluntary stupidity.
@snoot
Blame the mean foreigners from Canada and the rest of the world. Typically American. If everything is fucked up in the USA it’s ALWAYS the fault of these strangers and these real mean foreigners.
What don’t they just admit that .gov IS the mafia: we could save so much tax they spend on gooeyoeey words and happy icons:
http://www.rustyparts.com/wp/wp-content/uploads/barack-obama-hope-stickers.gif
@Marc:
What are you referring to?
@ Frances
That is exactly what Irwin Schiff argues. I understand that the judge who sentenced him made reference to the law and justice not having a place in the court room. Nevertheless, Mr. Schiff’s prison sentence runs until he will be near 90 years old. It is highly likely that his sentence will be a life sentence.
Odd isn’t it. Irwin Schiff argues of principles that involuntary wealth extraction through the IRS is illegal and he goes to prison. Timmy doesn’t pay his taxes and gets the job of being the head tax collector.
Go figure.
@Dear Frances Snoot
To this. Didn’t know Canada was part of Europe. No financial leverage of 60 to 1 or even 80 to 1 in very conservative Canada. In the USA and Europe they even compare us to hicks. Vive les Hicks et les Canucks ! Being more consevative gives you a advantage. It’s less sexy much less risky.
————————————————————————-
Why do we have to pay tax on the interest? Marc: why don’t you worry about the covered bond monopoly benefitting your country at the expense of the US due to our ‘regulations’ coming out of Europe?
The regulations feed into the greed of those in Europe who stand to benefit by the demise of our capitalist system.
——————————————————————————
Hey Snoot. We are not in Europe.
@frances snoot
Nope. The tax on land (rent) is to REPLACE tax on income (labour).
Honestly, you really need to read and understand the land value tax perspective. Without understanding land, you’re quite blind to fundamental “forbidden” economics. It’s just too vital to toss aside because you don’t like the messenger or haven’t the context to place the message.
What is Land Value Taxation?
http://www.landvaluetax.org/what-is-lvt/
Also, the Harris and Hudson PDFs posted before. REQUIRED READING (with all the best intentions to fellow learners.)
Heh, Marc:
You’re the tail-end appendage of Crown Interests. See: tar sands.
Hmmm. Republican rebuttal to State of the Union address was primarily underwritten by Wall Street :
http://www.huffingtonpost.com/2010/01/28/mcdonnell-rebuttal-heavil_n_440566.html
The man was a windbag. Max could surely do better: I even preferred the vacuous America brunette-bimba. She perhaps was honestly deluded. Who would trust the British government with anything? The scheme is the nail in the coffin for land rights.
@AdamC:
Let me see if I have this right. The Crown Interests pay no tax. That includes the royals, their property, their servants, and their business interests. Is that true?
@Mep:
So. What do you think about Keyne’s International Clearing Union proposal?
Just to underline, LVT isn’t some faddish stealth tax cooked up by political scammers (as the aspiring rentier middleclasses are likely to suspect.)
Land Value Taxation Campaign — How should we be campaigning? by Fred Harrison
http://www.landvaluetax.org/the-campaign/how-should-we-be-campaigning.html
‘The conventional language employed to promote the re-socialisation of rent (and the re-privatisation of wages) will continue to obstruct fiscal reform. The entrenched interests will not allow a “tax on land values”. After all, it’s “their land”, anyway, isn’t it? — …it’s NOT a tax. It’s inviting middle-class home-owners (today’s aristocracy, in political power terms) to honour their value system – pay for what you get, and get rid of taxes on the incomes you earn. This is the language of a political/moral prospectus that the voting majority – middle-class home-owners – would not be able to oppose, publicly. That’s why the vested interests would have to try to shift the debate back onto the territory of the landowners’ choosing: “this is a tax, really”. That ploy would need to be resisted. — People need to be reminded: stop whinging about what’s wrong with this world, stop talking about your entitlements, accept personal responsibility and claim what is yours by right.’
Samuel Brittan — Speech House of Commons 24/03/09: The simple case for taxing land
http://www.samuelbrittan.co.uk/spee58_p.html
‘Most forms of direct taxation are inevitably a disincentive to enterprise and work. The advantage of a land tax over other kinds of tax is that it is in principle based on pure space and need not be a disincentive to either capital or labour. …indeed it provides a positive incentive to use land wisely and not to hoard it. It is also one of these rare things: a redistributive measure with few adverse kickbacks. (Land ownership is far more concentrated than wage income or even capital ownership.) I suspect that the main reason for popular lack if enthusiasm for a land tax is the suspicion that it is not a genuine tax reform but an addition to the total tax burden, if not a stealth tax at least a backdoor tax. And who is to say that popular opinion would be wrong? It is therefore very important that some other highly visible tax is removed or reduced at the same time. A land tax should not be introduced in the context of a general tax-raising budget.’
Guardian — Fred Harrison: Want to get rid of boom and bust? Tax land, not income (2005)
http://www.guardian.co.uk/business/2005/apr/11/economicpolicy.comment
‘We should untax people’s wages and savings: conventional taxes inflict deadweight losses on incomes. Instead, public services could be funded out of rents that people were willing to pay for the benefits they enjoy at a particular location. That is efficient. Productivity would rise and speculation in gains from land would fall. It is also fair. It is the voluntary, self-assessment approach in which payments are direct and proportionate to the public services people want to use. — Politicians of all parties should champion a simple ad valorem charge on the location value of all land – excluding improvements such as buildings. A high enough rate would end boom and bust cycles and establish a new relationship between citizen and the state. The interface between the public and private sectors would be redefined, and many of the disputes that divide our communities would be resolved.’
Amazon — Ricardo’s Law: House Prices and the Great Tax Clawback Scam by Fred Harrison
http://www.amazon.co.uk/Ricardos-Law-House-Prices-Clawback/dp/0856832413/ref=sr_1_5?ie=UTF8&s=books&qid=1256780977&sr=1-5
‘The welfare state rests on the belief that progressive taxation can relieve poverty, taking from each according to their means and giving to each according to their needs. This sounds fair: the rich pay more tax to help the poor. However, Harrison points out, the opposite is the result: taxation favours the rich at the expense of the poor because: #1. Public spending on roads, railways, schools, hospitals etc makes a major contribution to rising land values; #2. Rising land values benefit house-owners and other property-owners, rich ones more than poor ones, in rich locations and rich parts of the country more than poor ones; but they hurt people who rent their properties and have to pay rising rents; #3. Taxpayers’ money, which finances public spending, is thus channelled behind the scenes from poor to rich people and from poor to rich parts of the country.’
Dr. Michael Hudson — The New Road to Serfdom: An Illustrated Guide to the Coming Real Estate Collapse (PDF)
http://michael-hudson.com/articles/debt/Hudson,RoadToSerfdom.pdf
‘Never before have so many Americans gone so deeply into debt so willingly. Most members of the rentier class are very rich. One might like to join that class. And so our paradox (seemingly) is resolved. With the real estate boom, the great mass of Americans can take on colossal debt today and realize colossal capital gains—and the concomitant rentier life of leisure—tomorrow. If you have the wherewithal to fill out a mortgage application, then you need never work again. What could be more inviting—or, for that matter, more egalitarian? — The bubble will burst, and when it does, the people who thought they would be living the easy life of a landlord will soon find that what they really signed up for was the hard servitude of debt serfdom.’ — ‘…commercial real estate investors hide most of their economic rent in “depreciation” write-offs for their buildings, even as those buildings gainmarket value.’
The Chaos Makers: The Dreamers & The Deceived by Fred Harrison (1997) (PDF)
http://renegadeeconomist.com/wp-content/uploads/2009/04/the-chaos-makers.pdf
‘INSUFFICIENT attention has been paid to the ways in which the chaos makers in the land market shape our destinies. Land supply is in fixed supply in those places where people need to live, close to the opportunities for employment. …speculation in land pushes its price beyond affordable limits …instability manifests itself in myriad forms of conflict that torture the industrial economy (labour relations, unemployment, etc). — The treatment of rent as a public revenue would eliminate the acquisitive force behind the booms and busts. The fiscal reform proposed here would ensure that the short-term private interests of the individual would converge with the long-term interests of the community. This would enable people to plan the accumulation of savings over their earning lifecycle to the point where the price of capital would drop to very low levels: it would be at this point that poverty and unemployment would be permanently eliminated within a system of sustainable development.’
The simple fact is, no economic -ism or new organisation of the factors of production can provide more of that which all economic activity depends: LAND.
Nothing in the news about all the warships?
*
Gulf of Aden – The Coming Conflict
http://www.parenting-healthy-children.com/News.html
Senator Brownback just finished speaking about a looming government bubble that threatens to burst.
@ MAX, STACY
This Morning Donna Edwards (on Thom Hartmann’s radio show) said that Conyers will introduce legislation on Monday to thwart SCOTUS’s ruling on corporate donations and control over American elections.
stay tuned for the fireworks.
@frances
>>> The Crown Interests pay no tax. That includes the royals, their property, their servants, and their business interests. Is that true?
I should imagine they pay very little tax on anything.
Certainly they don’t pay any tax on the increased value of their land (the economic rent), added-value which others have created by their economic activity using that land, adjacent land or land in the local economic ‘community’.
I’m looking for a chart that shows how the aristocracy pushed tax off the land and onto labour… hang on…
@Danny II (chicken)
You say the bet is: As of the day you started this nonsense, there was no proof that man drives the climate over and above natural forces.
So all climate effects are 100% free of influence by human behaviour. If you find an effect of human behaviour on the climate you lose the bet? You lost already, those effects are clearly shown by elimintaing all alternatives causes including sunspots etc.
If you don’t care how this bet is decided you prove my point that the type of critisim you deliver is completely gratuitous and risk free. That is no way imho to have an opinion in the public arena. I of course take all this way to seriously but then again someone has to in the end. It is out of respect for your opinion that I care to judge it vis a vis the available evidence.
I have no problems wagering everything I got on the fact that humans are influenceing the earths climate. You can simply measure it and calculate it back to the emissions of all types of human activity.
I would have more respect for climate sceptics if they ran a risk in being wrong, because that might make them reconsider their position. Now the risk for their indifference is bron by all.
@Snoot! snoot!
BIS talk! http://www.youtube.com/watch?v=3TZGHqthsBU
Tasteless.. the poor banks will fight back!
@g7enn … Nothing in the news about all the warships? // *
Gulf of Aden – The Coming Conflict” // http://www.parenting-healthy-children.com/News.html
Wow , stretching it a bit … but would make a great film !
Adam:
How are British lands accessed? Isn’t that the ‘change’?
Thanks, ME.
Another flash of light.
Market TickerCommentary On The Capital MarketsThursday, January 28. 2010
Posted by Karl Denninger in Corruption at 14:33
(Page 1 of 357, totaling 1782 entries) » next page
This Is What SHOULD Be Happening (FHLB Suit)
This is exactly what I have advocated for the last two years:
Morgan Stanley, UBS and Barclays were among banks sued by Federal Home Loan Bank of Seattle, which seeks to recoup more than $2 billion it paid for certificates backed by faulty mortgages.
The banks made misleading statements about the asset-backed securities and the credit quality of the mortgage loans that backed them when they sold them to Federal Home Loan, according to six complaints filed in state court in Seattle last month and transferred to federal court starting Jan. 22.
The banks also made misleading or “untrue” statements about underwriting guidelines of mortgage-loan originators who were “failing frequently, and increasingly frequently, to follow quality-assurance practices intended to detect and prevent fraud,” according to the complaints.
Gee, you mean that the banks said the credit quality of buyers was “X” but never verified any of it, performed no quality control, and in fact that was a lie?
No, really? You mean starting in 2004 the FBI said this?
“It has the potential to be an epidemic,” said Swecker, who heads the Criminal Division at FBI headquarters in Washington. “We think we can prevent a problem that could have as much impact as the S&L crisis”, he said.
In fact it was worse than the S&L crisis eh?
Nor is anyone paying attention to this in 2007 – when I was writing about it. Or the file review done by HUD? Or the article in 2008 about First Federal? Oh heck, just read the handful of tickers that “hud & study & overstated” in the search box finds!
If you want to know why we had a housing bubble, crash, and our economy went in the dump you will find the answer right there.
If you want to know why we will not recover you need only realize that we have not removed the bad debt from the system. We have not forced those who committed these acts to eat them. We have instead bailed them out and transferred this bad debt around, in some cases to the government.
Justice says that these bad actors should be sued to Mars and for those individuals involved they should go to prison. All of them.
But to fix the economy we must default the bad debt and get it out of the system – whether we jail people or not.
Until we do that we are simply trying to reinflate a popped bubble.
Kudos to the Federal Home Loan Bank of Seattle.
To the rest of those who got screwed: Stand up and join these guys. Yes, this means you Fannie and Freddie, along with all the private parties, pension funds and others that bought the garbage
—————
There are clickable links to use if you go to http://www.market-ticker.org/
Made my day.
@frances
As promised…
Fred Harrison –
Documentary #4: Betrayal of the Lords
http://www.youtube.com/watch?v=ki-Od1MMa78
At 1:01 – a chart showing how tax was gradually pushed off land and onto labour.
*This* is why discussion of land has been scrubbed from the economic text books.
You might say he’s a windbag, but other than Michael Hudson (and Peter Schiff, very occasionally), NO-ONE is talking about the role of land in cyclical boom and busts, certainly no-one other than Harris has observed an 18 year cycle (see ‘The Chaos Makers’ PDF).
So here’s some more Harrison economic medicine for you (you can provide the spoonful of sugar
)
Documentary #1 – Gordon Brown’s Cover Up
http://www.youtube.com/watch?v=qHqrBb-nRbs
Documentary #2 – Why “Nobody Saw It Coming….”
http://www.youtube.com/watch?v=ku2yxP9ceRI
Documentary #3 – Casino Capitalism
http://www.youtube.com/watch?v=MhR6I2hLWrw
Steve Schwarzman:
Schwarzman, chairman and chief executive of Blackstone, railed against the application of accounting rules that force publicly-traded groups to value their portfolio companies on a mark-to-market basis. “What they are trying to ask you to do is value your companies as if you’re going to sell them at the bottom of a recession.” (Financial Times, February 3, 2008)
http://www.aba.com/Press+Room/PR_Accounting_FVAQuotes.htm#Steve
“But this mountain town is still filled with high-powered conference-goers, including Stephen A. Schwarzman, chief executive of the Blackstone Group, and Jamie Dimon of JPMorgan Chase.
In fact, Mr. Schwarzman is already making a splash. At a discussion panel on Wednesday, he hopped off his stool during a debate moderated by CNBC’s Maria Bartiromo, grabbed the microphone, and boldly called for what private equity loves: More leverage!
Mr. Schwarzman argued that banks should be allowed lower capital ratios, freeing money normally laid away against losses for new lending. He also called for the end of accounting rules that forced lower and lower asset valuations. And, oh yes, the government should guarantee securitizations to help the market get moving.”
http://dealbook.blogs.nytimes.com/2009/01/28/live-from-davos-2009/
What was that man talking out his ass about, Mother? The rules are great: just as long as they don’t apply to meeeee.
@mother:
Oh, Bilderberg Schwarzman!
http://mapper.nndb.com/maps/286/000003277/
Thanks, Adam!
“But to fix the economy we must default the bad debt and get it out of the system – whether we jail people or not.”
I say we jail people first.
Fred Harrison speaks to Dr Michael Hudson
http://www.youtube.com/watch?v=3pwAFohWBL4
Hudson: “The parasite takes over the host’s brain to make it think it’s part of the real economy.”
http://www.gata.org/node/8276
Goldman Sachs trying to broker Greek bonds to China
Submitted by cpowell on Wed, 2010-01-27 04:38. Section: Daily Dispatches
The investment house gets a cut even when money is flushed down the toilet.
* * *
Athens Invites Beijing to Buy Bonds
By Kerin Hope and Jamil Anderlini
Financial Times, London
Wednesday, January 26, 2010
http://www.ft.com/cms/s/0/65ac74fc-0aaf-11df-b35f-00144feabdc0.html
Greece is wooing China to buy up to E25 billion of government bonds, a move that underlines Beijing’s growing financial power, as Athens struggles to fund soaring public debt.
Goldman Sachs, the US investment bank, has been promoting a Greek bond sale to Beijing and the State Administration of Foreign Exchange (SAFE), which manages China’s $2,400 billion foreign exchange reserves, said people familiar with the issue.
Gary Cohn, Goldman Sachs chief operating officer, has made two trips to Athens — last November and this month — to meet George Papandreou, prime minister, and senior officials.
Beijing has not agreed to such a purchase. Meanwhile, Athens has rejected a suggestion that a Chinese bank should acquire a strategic stake in National Bank of Greece, the country’s flagship commercial lender, according to officials contacted by the Financial Times.
But a more modest deal of about E5 billion-E10 billion ($7 billion-$14 billion) appeared possible after Mr Cohn’s second trip to Athens, officials said on Tuesday.
George Papaconstantinou, finance minister, told the FT he would visit China on a road show next month, but “no target is set” for a debt placement.
China’s foreign exchange reserves grew $130 billion in the last quarter of 2009 alone. But people close to Safe said China already held a “significant amount” of Greek debt and was wary of adding to that.
A senior Greek finance ministry official said Athens would welcome Chinese buyers of its bonds. The official declined to specify an amount, though a figure of E20 billion-E25 billion was raised in talks with Goldman Sachs.
A E5 billion syndicated loan issue by Greece this week attracted bids worth more than E20 billion, but Greece continues to face pressure in financial markets.
Goldman Sachs mooted the sale of equity in NBG to Bank of China, the country’s third-largest commercial lender by assets, and made a similar proposal to China Investment Corp., China’s sovereign wealth fund, according to officials.
Chinese officials said CIC was not interested and that regulators would not let BoC make such a risky investment. Goldman Sachs and CIC declined to comment. A Bank of China spokesman said: “I haven’t heard anything about it.”
Uncle Ben reconfirmed 70-30
@tsar:
Keep the thirty and oust the rest of em.
This may be of interest in regards to the Blackstone link: (it’s for Europe)
http://www.euractiv.com/en/financial-services/investment-funds-winning-war-regulation/article-187747
@mommy
Comprehension you lack in spades. Quit trying to wiggle sideways. I NEVER said man does not effect climate. I said man’s effect is not driving the climate above natural forces and that there is no proof to contradict that statement. Show me the proof.
You take a simple idea and try to rationalize your way around it.
Obama Laughed at When Referring to The Overwhelming Scientific Evidence on Climate Change.
http://www.youtube.com/watch?v=q20cnn8vOfg
Dollar is rallying as worries over Greece’s sovereign default mount. Declining gold price presents an opportunity for those of you who have not bought any (or who sold some when it peaked.) My question: how much lower will gold go? 999.99 US seems like a great buy at this point. Will we get there in the next month or so?
Anyone?
“CREDIT-TERRORIST” story in Dallas Observer: “It’s like discovering fire…”
http://www.dallasobserver.com/content/printVersion/1653972
“While most Americans with unpaid bills dread the collector’s call, Cunningham sees them as lucrative opportunities. Many collection and credit card companies, intentionally or not, violate little-known consumer rights laws, and Cunningham’s favorite pastime is catching them doing so and then suing them. In fact, it’s a profitable side job.”
“[...] Cunningham calls himself a private attorney general—someone who files private lawsuits in the public interest. Debt collectors call him a credit terrorist.”
“[...] Cunningham knew he had a good enough case to file a lawsuit against the debt collection agency, and for his first lawsuit, he decided to enlist the help of a lawyer. Two months later, he had a check in his hand for $1,000.
“It’s like discovering fire,” says Cunningham, thumbing through the stack of lawsuit papers on his table.”
@mommy
The bet is not that IPCC is a fraud, we already know that, as it has been demonstrate on numerous occasions – mix in some real science (to provide legitimacy) with fraudulent science (that which one wants want to prove) and call the results alarming.
The bet is: As of the day you started this nonsense, there was no proof that man drives the climate over and above natural forces.
How do we prove that? I don’t know and I don’t care. You want me to put some skin in the game. This was your idea. You initiated the proposal. So you, as the initiator of this wager, must make a proposal on how to determine who is correct and what the wager is. You sound like a child who cries: “oh yeah, wanna make a bet.”
In fact, as I present it, I could never win because you can not prove a negative. You CAN’T LOSE! You can win by simply proving man drives climate over natural forces.
You have diarrhea of the mouth and constipation of the brain. All talk and no action. All bark and no bite. You can’t get past GO. Your transmission is stuck in neutral.
Funds flee Greece as Germany warns of “fatal” eurozone crisis
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7095818/Funds-flee-Greece-as-Germany-warns-of-fatal-eurozone-crisis.html
@Chris. think the put is 1035.
Treasurys rise as sovereign-debt fears return http://tinyurl.com/y8umpte
Congratulations, California (again)!
Now, go march on the Governator!
I would like to thank all of you who post here. It is prodigious what ya’ll have taught me …
Cheers!!
Funds flee Greece as Germany warns of “fatal” eurozone crisis
Germany has triggered a near-panic flight from southern European debt markets by warning that there will be no EU bail-outs, even though it fears the region’s economic crisis has turned dangerous and could prove “fatal” for the entire eurozone.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7095818/Funds-flee-Greece-as-Germany-warns-of-fatal-eurozone-crisis.html
@Danny II (chicken)
Ok,
“I said man’s effect is not driving the climate above natural forces and that there is no proof to contradict that statement.”
If there is an effect as you say, that effect is over and above natural forces by definition. So your statement is meaningless.
You will try to win by changing the meaning of words..are you a lawyer?
Peter Schiff discusses the Obuma state of the union speech
http://www.youtube.com/watch?v=TdI4qZq6ROI&feature=player_embedded
@Tsar Caustic: You are correct about the IRS wanting their cut on bartering. But if you read Topic 420 again, how can that not apply to the insurance industry, which negotiates lower rates for their claimants. Aren’t those lower than market rates are barter? I would think so, as defined by:
“A barter exchange or barter club is any person or organization with members or clients that contract with each other (or with the barter exchange) to jointly trade or barter property or services.”
Basically, who is who to determine what “market value” is in this economy? When nobody has capital and is buried in debt, I’d say the exchange is $1.
Since bartering is all it takes to pull the rug out from everyone, I’m all for it.
David Lloyd George’s 1909 Limehouse speech:
‘…
But there are some of them who say, The taxes themselves are unjust, unfair, unequal, oppressive notably so the land taxes. They are engaged, not merely in the House of Commons, but outside the House of Commons, in assailing these taxes with a concentrated and sustained ferocity which will not allow even a comma to escape with its life. Now, are these taxes really so wicked? Let us examine them; because it is perfectly clear that the one part of the Budget that attracts all the hostility and animosity is that part which deals with the taxation of land. Well, now let us examine it. I do not want you to consider merely abstract principles. I want to invite your attention to a number of concrete cases; fair samples to show you how in these concrete illustrations our Budget proposals work. Now let us take them. Let us take first of all the tax on undeveloped land and on increment.
…’
http://www.liberalhistory.org.uk/item_single.php?item_id=47&item=history
Well worth a read.
ABB
more:
‘…
The fraud of the few and the folly of the many
Not far from here, not so many years ago, between the Lea and the Thames you had hundreds of acres of land which was not very useful even for agricultural purposes. In the main it was a sodden marsh. The commerce and the trade of London increased under Free Trade, the tonnage of your shipping went up by hundreds of thousands of tons and by millions; labour was attracted from all parts of the country to cope with all this trade and business which was done here. What happened? There was no housing accommodation. This Port of London became overcrowded, and the population overflowed. That was the opportunity of the owners of the marsh. All that land became valuable building land, and land which used to be rented at 2 or 3 an acre has been selling within the last few years at 2,000 an acre, 3,000 an acre, 6,000 an acre, 8,000 an acre. Who created that increment? Who made that golden swamp? Was it the landlord? Was it his energy? Was it his brains a very bad look out for the place if it were his forethought? It was purely the combined efforts of all the people engaged in the trade and commerce of the Port of London trader, merchant, shipowner, dock labourer, workman, everybody except the landlord. Now, you follow that transaction. Land worth 2 or 3 an acre running up to thousands.
…’
Keep in mind that there’s a reason why unemployment benefits still exist today:
So that you can still pay your insurance premiums as required by STATE LAW. This is the only service (albeit based on barter) that you cannot avoid with a straight barter.
My grandmother survived WWII in Europe, and she did a great job teaching my family how to survive with what we have. I’ve been properly conditioned to unplug and go underground without hesitation.
@ind2www no argument from me… Now if you don’t actually ever receive any payment in cash/etc… how are you supposed to pay? That would be an interesting question to pose in a tax court.
Maybe it will be like the old folk tale where the payment for the smell of fish is the sound of money.
@ind2www above ^^ I mean if you don’t have any cash, living entirely on barter, how can you pay a tax bill to the IRS? Maybe they’ll take barter???
Europe is under assault from the US. Very sad. Obama wants the US to be great, but it was great before without bothering anybody else.Now they discuss Haiti in Davos, as if the humanitarian angle will raise their image. Like Gordon Brown talking about Africa aid funds at the G20..
RED ALERT
BEN IS CONFIRMED
http://www.foxnews.com/politics/2010/01/28/senate-confirms-bernanke-second-term-fed-chief/
Round 2!
So, how come you can make huge amounts of money with blood/plasma? I thought people gave this free so that others could receive it free in medical emergencies….don’t people call blood the”gift of life”?
If individuals are getting rich on blood/plasma, it makes me have second thoughts about motives. Is it money or peoples lives they are interested in?
D.
WS owns Capitol Hill….
Senate votes to reconfirm Bernanke
http://www.youtube.com/watch?v=-9w_hL4xRY8&feature=sub
@mep—-what do ya think of this??
http://www.youtube.com/watch?v=Cbu0voHaqbA
@Tsar Caustic: Yes. If you do not have cash, the IRS will seize your property. The question remains: If property was bartered for a market value of $1, what does the IRS value it at to determine the levy and seizure?
By the time that happens, the rug’s been pulled already. But that’s okay because the assets don’t belong to anyone, they belong to a shell CORPORATION! Worthless assets would be fully depreciated on the books anyways, and the personal tax wouldn’t exist.
Just a theory anyway…
There’s two sides to bartering:
Knowledge is power : Knowing is half the battle
@Y’All
Summin for Y’All PISS HEADS, that aint passed out in a pool of your own VOMIT YET!!!
Brewing Up Civilisation.
http://www.spiegel.de/international/zeitgeist/0,1518,668642,00.html
Jimmy Castor Bunch – Troglodytes.
http://www.youtube.com/watch?v=JNS42Na2mpc
What decides the outcome of a war?
— the outcome of the final battle
As Max has pointed out, much of the world is in a war that is being fought in the currency markets.
Beggar thy neighbors and try to outlast them. If an effort is made to hold you hostage, try to break free. Think: possibly Iceland or Latvia. Will Greece secede from the EU, be jettisoned, or stripped of assets? How about California? Will that state face rating downgrades and austerity measures until Rahm Emmanuel feels confident re those 55 electoral votes? Much to ponder.
——————–
Time for me to put down the coffee mug, get away from the computer, and pack.
Good evening to y’all.
BTW .. Euro still tanking
Really interesting the way 1 Kg. of Gold is pegged to EXACTLY 25000 Euros since days now – always after market close . Almost as if the BigMoney string-pullers use Gold as the fulcrum for Fiat movements.
Administration Approves Bank Book Cooking
http://solari.com/blog/?p=5930
18 year cycle..huh…oboy, then Norway has something coming… since 1993 at the bottom from last crash the housing price have risen on average sevenfold to 2007, but if you factor in inflation and wage-rise the real price rise on average is above threefold. Adding 18 years on 1993 must mean that a real bust comes in 2011. We are a few years behind the rest of Europe/North America so the 18 year cycle could be right in my case. There are warnings going around.
Jumping on the wagon of random comments about everything:
I was hoping that at least a few MainStreamMedia TV outlet would present this stuff and I expected one to be Max and Stacy because they have huge personal feelings about this and they even put up a PirateMyFilm project in that spirit besides the talk on it in TruthAboutMarkets podcasts.
Secret deal aims to scuttle internet pirates
http://www.ft.com/cms/s/0/aeecd740-0c55-11df-8b81-00144feabdc0.html
Blogging ACTA Across The Globe: The View from France
http://www.eff.org/deeplinks/2010/01/acta-and-france
Ohio’s Unemployed Masses Are Getting Hammered Like Never Before
http://www.businessinsider.com/chart-of-the-day-ohio-unemployment-vs-liquor-sales-2010-1
I remember my brother (who worked for the hong kong securties people) that corruption and bribes is what made their system work. Looks like the usa has gone in that direction. Or has always been there but it hasn’t been so out in the open.
28% of all condos, appartments and rental VACANT in Orlando.
http://www.orlandosentinel.com/business/os-orlando-rental-vacancies-20100121,0,4745134.story?source=patrick.net
This Mister Harrison is right. Real Estate is the most overrated asset class in the deluded minds of investors and bankers. Prices some say are going up. Don’t believe that bull not with these type of numbers. And Orlando is not even in a desert. They could maybe install all the Haitians that lost their house in Port au Prince in Orlando ? Has somebody news on the USA tent cities. There seems to be a mediatic black out about the explosion of tent cities in paradise USA.
Thanks for getting rid of split screen…was murder watching max’s 3 hands. Strong episode. Good to have more of Stacey…..
Mr. Harrison’s comments are similiar, if not based on, a book by Henry George called Progress and Poverty, an American book written in the late 19th century. I have the book, but I found it very, very difficult to read and quite indirect. But I guess the book was well recognized in its day, that taxes should be paid through land ownership.
The only think propping up the dollar is the fixed exchange rate to the Chinese Yuan
the question of taxes. What do we get for our taxes. Not much. The experts tell us that most of the taxes go for education. Yet our children are far stupider than they were 20 years ago. The experts tell us they go for road repair. I’ve seen two guys in the last ten years filling pot holes with a scoop or two of quick drying asphalt . Thats the state tax excuses.
The fed tax excuse is that we have to pay to be protected. ahhh. Were killing millions overseas with our tax money so the big multi national corporations can steal their resourses and make huge profits on it while selling it back to us stupid americans for 10 times the amount. Yep,, taxes are a scam. Always have been.
LOL!! Somali pirates to donate $ to Haiti.
Pirate spokesman:
”The humanitarian aid to Haiti can not be controlled by the United States and European countries; they have no moral authority to do so. They are the ones pirating mankind for many years.”
would have been wonderful if the gov could stimulate the working people with tax rebates, … I guess this would take away from feeding the war games business. Instead they use fiat money printed out of thin air to stimulate the thieves even more. They just harvest the plasma from the people.
Excerpts From Tim Geithner’s Inquisition On Capitol Hill Over AIG
http://www.youtube.com/watch?v=7SFNB6NuKxc&feature=player_embedded
Rep. Marcy Kaptur Smashes Geithner
http://www.youtube.com/watch?v=JtwVRM0OG58&feature=player_embedded
http://english.aljazeera.net/news/americas/2010/01/20101290555789734.html The US senate has approved Ben Bernanke’s nomination to a second term as chairman of the US Federal Reserve despite the stiffest opposition to any nominee for the post in three decades.
And geithner might’ve been under fire, and volcker suppose to save the day; But this is whats called controlled opposition, the artificial created destruction of the economy wasn’t meant to benefit these two/three (obama included) The puppeteers dodge the bullet every time over and over, of course it’s great that bush and cheney maybe get trialled for war crimes or that geithner get’s indicted, but all this sh*t shouldn’t never be allowed to happen. BTW the fed is unconstitutional, volcker works/worked there, All part of the greatest (scripted) reality show on the planet. But keep dreaming that the military industrial complex “threatens” obama, even though he extended rendition powers increased defence spending. Signed executive order for bonuses AIG, second round bail out when he took office, voted during the senate for bush his plan, Supports the fake war against Al CIAda etc. etc. etc. Criminals/fraudsters/puppets run the system, The conformation for another term of Bernanke, could be the drop that overflows the bucket, yet there already have been so many moments of let them eat cake I think the weakminded public is too brainwashed by avatar, soon coming to your livingroom to really screw with people’s mind http://www.physorg.com/news183928410.html
(excuse my grammar 3 o clock at night and not within the legal sober limits)
Former AIG CEO Hank Greenberg Dishes on Tim Geithner’s Role in the AIG Backdoor Bailouts, Coverup
http://www.youtube.com/watch?v=9ofGt4yeyv4&feature=related
can valley, thanks for the greenburgh video.
gee what a surprise the regulators were asleep at the wheel. Gosh I wonder how that happened.
Shouldn’t it be called Military-Banking complex? I think the term “Industrial” is no longer applicable in the United States.
What is Soros playing at????
CNBC says banks need to feel “appreciated.” Touching, made me cry. People, please show some appreciation, OK?
Political Risk: The Bernanke Nomination and the Return of American Populism
http://us1.institutionalriskanalytics.com/pub/IRAMain.asp
@MikeBell; good one, but more important is the goal/content/workings of the military banking complex ;-p
G20 hastily planned summit to apply new Obama bank rules globally Convergence w/ a vengance. That didn’t take long.
http://ca.reuters.com/article/businessNews/idCATRE60M11Y20100123
Jeff Immelt and Warren Buffet work the phones in favor of Bernanke. Ben – real man of the people.
http://www.politico.com/politico44/perm/0110/buffett_immelt_whipping_b76dad83-613e-40a5-bd99-342fc0b36b23.html
If you are a Yankee, please take the time to read this …
The retirement trap, a well written article
http://www.lewrockwell.com/holland/holland12.1.html
@Y’All
Lord Of War – ‘Let Me Tell You What’s Going To Happen Next’
http://www.youtube.com/watch?v=BuQYffys8pg
HAARP 2hrs of data “deleted” the day before Haiti Quake:
http://twurl.cc/24p3
Hmm, last attempt held for moderation…
2 HRS of HAARP data “deleted” the day before the Haiti Quake…
http://catastrophist.wordpress.com/2010/01/29/haarp-data-deleted-11-jan/
@Mep
Shiver me timbers! Did you see that other story in that link, namely that Kenyan fishermen are reaping the benefits of foreign trawlers avoiding the region. I’ve heard they even bring in a variety of meals to cater to the different nationalities being held hostage on the ships. It’s better than walking the plank i reckon.
“Major Catastrophic Collapse” was averted form a simple $700B? What utter bullshit!
http://www.youtube.com/watch?v=WGOp30q34ZI&feature=channel
Get out the laser pointers and shine them on these fraudsters wheneveer they’re spewing their crap….. [Modern day torches]
Maybe they’ll get the hint +
If politicans and their henchmen didn’t lie they’d be out of a job and probably in the hoosecow.
I’m always amazed how they can lie so well with a straight face. Though hank paulson sure has alot to learn about lieing the way he stammers and sweats.
@DanII
Just what the doctor ordered to create jobs and stimulate the economy ! A new tax and a new fraud. Didn’t check the credit carbon recently. Are they up ? A fantastic way to kill and exterminate for good what’s left of manufacturing in Europe and North America. Banking slaves. Credit carbon slaves. Credit Default slaves. Housing slaves. Naked body slaves. SLAVERY is back in force in the USA and in the world. I can’t believe it when I see all my tree huggers sleeping wiht the Devil. The Devil is Al Gore and his business associates none other that Goldman Sachs. These bastards control everything. The whole fuckin place, Green movement is controlled by them, probable the US Communist party too. Don’t sleep with the Devil you Greens, pr we will end up in hell.
Nobody in the Green movement is talking about where the dough is going. I know the answer too well. It will ago again and again to the same 0,1% of popultaion getting rich on the TARP funds or at the CIA and the Pentagone. No kidding Anything that emanates from the USA presently is of this nature. Like a hell hole dictatorship. The real Greens should know better. You should.
Talking about nature, food and green stuff
17,4 % inflation in the UK on veggies and cereals.
http://economictimes.indiatimes.com/news/economy/indicators/Cereals-veggies-spice-up-food-inflation-to-174/articleshow/5511747.cms
Michael Tsarion has this video in 16 parts that is worth watching
http://www.youtube.com/watch?v=G7MUGZ6JuRI
Makes you think a bit though.
Then if you want to hear his latest interview. He goes into the fall of the republic
http://www.youtube.com/watch?v=IcohUF2dZhM&feature=related
I start on pert 3 because the point he is making might persuade you to go back to the start.
If you liked Adam Curtis and stuff like century of the self then this is another approach worth watching and hearing.
@Sherri:
Perhaps China feels it time to invest some of those dollars and they buy Greece and California on the same day!
UN in secret talks with Taliban
http://www.guardian.co.uk/world/2010/jan/28/taliban-united-nations-afghanistan
desperate NATO trying to divide & conquer methinks.
Mish acknowledges conspiracy with AIG – but not gold price suppression scheme.
Perhaps he can explain how a strong dollar policy works without gold price suppression.
The Fed in iBailout!! – CNN – Anti-Fed iPhone Game – Ron Paul in Trailer
http://www.youtube.com/watch?v=fn3KIB97hg4&feature=player_embedded
McItaly? Poor Italy.
Hi Max, this is extremely urgent and you guys may be able to us.
There are some strange things going on in Canada these days. Especially when out of the blue Prime Minister Stephen Harper suspends Parliament until March 3rd, and then a company called Kinder Morgan looses 2 Tons of Ammonium Nitrate in Vancouver where the 2010 Olympics are soon to take place.
Both these events happened after the plutocracy lost their bid for a global consensus and binding agreement to control a new Carbon derivative market that would have affected every person on the planet through taxation.
It also comes as the US Government expands their aggressive wars into Pakistan, and Yemen, but also as the European Union becomes a reality, a new trading block has emerged, (B.R.I.C.) and the economic recession is deepening.
Will there be a false flag event in Canada? Is the North American Union about to be created?
-Dec 30, 2009, Prime Minister Stephen Harper suspended Canadian parliament.
-December 31, Whistle blower @ Kinder Morgan announces two tons of 6,000 tons of Ammonium Nitrate have gone missing from a shipment to a storage facility in the Vancouver.
- Hours later Kinder Morgan declared it was a clerical error and that the Nitrate was not missing
- Jan 16, RCMP are not convinced, unable to confirm Kinder Morgans conclusions.
Kinder Morgan was recently bought out for $22 billion by some of the world’s largest financial companies. These companies are Goldman Sachs, AIG, The Carlye Group and others. The company that was purchased is called Kinder Morgan. Kinder Morgan didn’t report the two tons missing for over a month, when they did report it they came back a week later only to say they simply made a “clerical error”. Soon after the announcement, the RCMP started their investigation and came back only to say they can’t confirm that it was really accounted for. With all of this said, the question arises, who has the capability and motive to steal two tons of Ammonium Nitrate?
There is a video here that explains more detail what seems to be underway. Max is in the video as well:
http://www.youtube.com/watch?v=Ch3HqIrM6OQ
“Kinder Morgan bought out by financial giants Goldman”
http://www.nytimes.com/2006/08/28/business/29kindercnd.html?_r=1&dlbk
Here is a very good website if you want to hone your understanding and talk about what is going on:
http://dprogram.net/2010/01/25/could-vancouver-2010-could-be-the-next-911/
As you can clearly see, the financial terrorists may be planning for another 911 in Canada. I know you and others here are about exposing financial terror, but this is just as important and connected to their justification for their financial terrorism, and Goldman stench is all over this event. Who knows if some false flag attacks have already been prevented by people blowing the whistle. Max, you may just save lives and much more if you use your position to leverage this message any way you can.
Sincerely
Tyler
@Mep
McOrgans almost fof free in Haiti.
http://www.getbig.com/boards/index.php?topic=318133.msg4515470
They do it to Palestinians and Irakis too. It’s a nice side line for the medica-pharma-milataro industrial complex runned by the usual nazis. The accusation are serious. The Prime Minister Préval is accusing a certain country that nobody wants to denouce. God forbid. Yeap.
Cerberus and Dignitas will soon be sending “help” to profit from the bargain. Children are particularly popular for with the bloodsuckers and the organs smugglers.
Fantastic profit margins and the meat is for free. USA number one ! Israel number UNO ! Like I said we are becoming chineese. This is cool. Maybe the Greens could suggest replacing oil with human grease from Haiti children and the US poor. Yeah. You we are the nice guys. What’s the difference between China and us. We are hypocrits.
India Raises Reserve Ratio More Than Forecast, Predicting Faster Inflation http://tinyurl.com/yhurtdc
Specter of Mortgage Defaults Returns to Haunt Beleaguered Banks in Ireland http://tinyurl.com/yes8feh
@Mep
McItaly is nothing compared with Mc Organs. Just to prove to you that I am not a conspiracy nut case. Here somebody working in the country. Laurent Préval the Prime Minister also mentionned that doctors are actively participating in the business. Favorit targets for the organ looting. Not the dead and dying. It’s about kids sold for the organs to rich western and israelis clients. Anyways again the same pattern as in Palestine or recently in New-Jersey. But this time it’s even worse.
http://www.huffingtonpost.com/2010/01/28/haitian-pm-human-organs-a_n_440212.html
Lenders Pursue Mortgage Payoffs Long After Homeowners Default http://tinyurl.com/yg378q4
@y’all check out my twitter acc it’s filled with documentaries and my personal views.. Hope to inspire others to use these kind of networks to share/discuss relevant things, not just worship idiot celebrities whom contribute nothing to society or tell useless things constantly, like “i m going to take a shit” “i m back from taking a shit” etc. as example. So follow me so i can follow you please; AMphilosopher
Supreme Court ruling gives more voice to big business http://tinyurl.com/ydnunw7
China gold production at record in 2009 — reports http://tinyurl.com/ykn2v2z
Boom time for Cerberus and Dignitas in Haiti. And oh yes some unidentified team of Israelis doctors specialised in the business ot organ brokers. Not only on the dead and dying. It’s about orphans and small kids sold as meat. No need to go to China ?
http://www.cnn.com/2010/WORLD/americas/01/27/haiti.earthquake.orphans/index.html
Wonder if some of these companies are on the NASDAQ ?
The everlasting deflationary nightmare we’re heading for just like Japan. Been reading these headlines with the word “deflation” in it for years!
Japan economic data mixed; deflationary pressure rises http://tinyurl.com/yff4sr7
7% interest rates on Greek government debt.
Nobody want to lend except China. What a signal indeed. China is becoming Europe’s banker !
Senate and Congress act as if they are doing somtin but at the end of the day it’s back to the looting business as usual.
Bernakesan gets 77 to 23 votes on his nomination for an other four years of captain of the sinking Titanic or at least on one of it’s life supporting boats only for the rich. The poor are left way deep down ship behind in cage to drown.
Bernanke nomination clears key test vote in Senate http://www.marketwatch.com/story/bernanke-nomination-clears-key-test-vote-in-senate-2010-01-28-154600
Factory sector expanded less than thought in Dec http://tinyurl.com/ylxssh2
Fall in new home sales fans fears on recovery http://tinyurl.com/ybtjs9w
Treasurys rise as sovereign-debt fears return http://tinyurl.com/y8umpte
Swaps Trading Surges as National Deficits Rise: Credit Markets http://tinyurl.com/yzye3ry
Senate backs increase in debt limit to $14.3 tln http://tinyurl.com/yewg2ck
Secret deal aims to scuttle internet pirates 28 January 2010 (The Financial Times) http://tinyurl.com/ya5ws8d
go gold
New Zealand is currently looking at introducing a property tax of perhaps 0.5%
I pay tax on my land: it goes to run the county. Why should I give corp. .gov land tax? There is no justification for this idea. It removes accountability to the taxing authorities and enriches the royals and the elite families. When my tax was raised recently, there were hearing the whole county was able to attend. Many people protested. The federal can raise the tax to whatever dizzy heights they like: we know how accountable congress is to the people. Congress defied the people in the TARP vote: completely laying down for the international bankers. The idea makes no sense at all unless one is supportive on Agenda 21: a habitat for animals and cages for people.
Goldman Sachs works for the investors that own Goldman Sachs: it is not a spurious agency of evil. There is no correlation between Goldman Sachs and that supposed rumour about the nitro. Why has everyone given Citigroup (now Citibank) a go? The Citigroup guys were the ones behind the derivate scam in Congress.
Making a scapegoat of Goldman Sachs does not remove ‘sin from the village’. It is juvenile to point to one bank as the impetus behind the subprime greed and fraud of 2008. The rating agencies which pasted AAA on the securities should be held to task. The evil is not contained in one bank or on Wallstreet.
Re: Frances Snoot
“Goldman Sachs: it is not a spurious agency of evil.”
Hmm, a Goldman Sachs sympathizer on Max Keiser’s web page. Anyone else find this funny?
“There is no correlation between Goldman Sachs and that supposed rumour about the nitro.”
First of, That’s like saying there is no correlation between Kinder Morgan & the missing ammonium nitrate. Secondly, its not a rumor.
“Only a well organized group could pull this type of theft off.”
A Canadian news report on it here:
http://www.youtube.com/watch?v=D7k_OBjhfFs
“It is juvenile to point to one bank as the impetus behind the subprime greed and fraud of 2008.”
The post says:
Kinder Morgan was recently bought out for $22 billion by *some of the world’s* largest financial companies. These companies are Goldman Sachs, AIG, The Carlye Group and others.
Granted, they are all financial terrorists, and it goes right to the top. These zio-ogre camps, otherwise known as banks are connected intimately with the complex interlocking swarm of ticks and leeches who profited from, organized, and orchestrated 9/11 and 7/7.
In case you didn’t know that 911 was an inside job, watch this
short clip. “General of all American Intelligence (FBI, CIA, NSA…etc) claims 911 was an inside job.”
http://www.youtube.com/watch?v=daNr_TrBw6E
Tylervincent:
The thing about a colon: it acts like a gun which shoots a bullet. You took the ‘bullet clause’ and ignored the clause holding the gun. My sentence read:
Goldman Sachs works for the investors that own Goldman Sachs: it is not a spurious agency of evil.
spurious:
http://dictionary.reference.com/browse/spurious
“not genuine, authentic, or true; not from the claimed, pretended, or proper source; counterfeit.”
No, if one reads for meaning one gets this from the sentence:
Goldman Sachs is the representation of evil: one cannot claim GS as the true agent of evil/ the counterfeit represents agency.
I was not shilling for GS. I think it is time we name the elite families that are operating in complete safety behind the hedge of corporate and banking
‘entities’.
There are conflicting stories coming out of Canada:
http://www.nationalpost.com/related/topics/story.html?id=2415511
The truth will be hard to ascertain: but rumour is bound to prevail when leaps and bounds result in further scapegoating and no real convictions of human criminal action. Whom does this shoddy work benefit?
In view of the speculation, Tyler, this is an interesting sentence from Bill Gross latest essay, Ring of Fire:
the U.K. is a must to avoid. Its Gilts are resting on a bed of nitroglycerine.
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2010/February+2010+Gross+Ring+of+Fire.htm
I’m not arguing that there is not a collusion of agency involved in events: just one must be sure to label speculation as speculation and not fact.
Things are extremely odd.
Snooty, I guess my new post would have been too long, it wouldn’t work here, added it to the forum here:
http://maxkeiser.ning.com/forum/topics/false-flag-terrorism-in