Stacy Summary: On the Edge with Max Keiser. And Karl Denninger. Max and Karl look at the SEC fraud charges against Goldman Sachs; the role of synthetic CDOs, ACA and regulators.
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Rick Ackerman-
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fiat money and the french revolution
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Numero Uno.
how about getting William Engdahl on the show?
Where was Stacey today!! huh!?
She’s with ME!
All MINE!
Max tried to sing to her!
Mike
Condo Psychosis Remix
from my friend in Tel Aviv
http://www.youtube.com/watch?v=rXibD86RZZg
Goldman sucks !
Shocking!
http://www.youtube.com/watch?v=zqjtz3rEPG0
oink..
http://www.bloomberg.com/apps/news?pid=20601039&sid=aynsg_Ms7SK8
Honey, I Lost the House. Now It’s Time to Party: Caroline Baum
April 22 (Bloomberg) — “What a relief, Marge, not to have that huge mortgage payment hanging over our head anymore.”
“You can say that again, Harry. Let’s celebrate. Maybe take a nice vacation. Or buy a new car.”
“What if the bank forecloses on our house? We could be living on the street next year.”
“Exactly. Which is why we need a new car. Maybe something roomy like a Chevy Suburban.”
By now you’ve probably seen the analysis, if you can call it that, on how mortgage defaults are driving consumer spending.
Yes, you read that correctly. Those deadbeat homeowners, facing possible eviction and in some cases unemployed, are throwing caution to the wind — and money at retailers.
Goldman Sachs metaphor festival
interesting vid
http://www.ritholtz.com/blog/2010/04/gsmetaphor-festival/
Great Show Max
Also Karl Denninger.mentioned ODS whats tat ???
Anybody ?
Googleing as well
Hic
Payback for SEC fraud case? I’ve heard some TV commentators suggest that the GOP wants to focus on the SEC’s indulgence of porn in order to attack what credibility the SEC still has so that the court of public opinion doesn’t believe the Goldman fraud story (or any future fraud charges).
Oops. Meo is me, comment moderator. Cleaned up my computer a little bit yesterday and my info. here got wiped so I had to re-enter it. Haven’t had enough coffee yet to type Mep right apparently.
I am not sure who you think your audience is. I try to understand your arguments but it is very difficult. I don’t know what a ‘synthetic CDO’ is. So is it that you are aiming your journalism at the financial community and not people like me?
Or is it Over dose ???
I don’t really understand how Paulson can walk away from him scam. It was total fraud based on inside information. If Martha Stewart got busted for her little fraud, how does Paulson get away with his huge one?
@ bonn – Maybe I’m not paying close enough attention, but all I heard reference to was CDOs.
I cannot hold off any longer. I wish to thank you both very much for your contribution in lifting the veil of BS in the fleecing and manipulations that are so cumbersome to understand. The service you provide of educating and enlightenment so that a 7 year old would understand is invaluable to me, our countries and this planet. Very few people have the balls to come into the limelight to provide this kind of public benefit knowing the risks, and you both do it with great care and sensitivity as well as your finesse in allowing your guests to fully disclose needed information, and then making sure the info in easily integrated for us all. I applaud you both for each of your own talents and being a team model for us to share, love and enjoy. You are definitely one of my heroes.
JB
Study Confirms Link Between Autism and Use of Cells From Abortions in Vaccines 21 April 2010, by Steven Ertelt (LifeNews) http://lifenews.com/nat6272.html
@ Max – Help me out here: wasn’t there a change in the way that banks (and corporations) reported their profits somewhere in the late 80s that made it so that short-term gains became much more important than long-term gains (and stability)? I swear I read that somewhere, and believe that Stacy posted an article about it once upon a time . . . just can’t remember what the rule change was. Isn’t it possible to change that back to the way it was in order to avoid the problem that Denninger mentioned of constantly needing new ways to increase profits–even when all legitimate and sane avenues to do so are exhausted?
Blankfein E-Mail Shows Firm Profited Betting Against Mortgages
April 24, 2010, 9:46 AM EDT
http://www.businessweek.com/news/2010-04-24/blankfein-e-mail-shows-firm-profited-betting-against-mortgages.html
Barry Ritholtz & Peter Schiff
on BNN TV
4.22.10
http://watch.bnn.ca/midday-markets/april-2010/midday-markets-april-22-2010/#clip292537
Food prices up 2.4% in March, highest increase in 26 years. Hope everyone in Keiserland is planting something this year.
You two are my HERO’s. Keep up the grapeshot!1 Where are the handcuffs?
Is America’s Economic Recovery On The Whole Based On A Rotten Sham? 20 April 2010, by By Justice Litle (Daily Markets) http://www.dailymarkets.com/stocks/2010/04/20/is-americas-economic-recovery-on-the-whole-based-on-a-rotten-sham/
From Jim Sinclair’s “MineSet” web site http://www.jsmineset.com/
This may very well expain the spike in “consumer confidence” LOL!
For Consumers, Time to Shop (Until the Mortgage Drops) http://www.housingwire.com/2010/04/05/for-consumers-time-to-shop-until-the-mortgage-drops/
“Welcome to the world of mortgage servicing loss mitigation…
Goldman offers its 4th public defense in past week http://bit.ly/aG7pZR. Methinks they doth protest too much
IMF meeting Saturday includes “G20 Mutual Assessment” http://bit.ly/9rxeIJ. That’s IMF-speak for “trash the dollar”
Here comes world money – #IMF announces an “ambitious” plan for the “enhanced role of the SDR” http://bit.ly/cM6oPp. Paper money on stilts
UFO sighting – Sky News: http://bit.ly/bxh9U9
Dodd Bill Would Allow Fed To Hide Its Spending 22 April 2010, by Ryan Grim (The Huffington Post) http://www.huffingtonpost.com/2010/04/22/dodd-bill-would-allow-fed_n_548588.html
IKB may sue Goldman Sachs.
@ Paul – CDO; synthetic CDO. Here’s a short piece on derivatives: http://www.globalresearch.ca/index.php?context=va&aid=10265 A lot of ordinary people assume that can’t understand this stuff, but it’s really not so difficult once you get a handle on the underlying concepts.
Goldman e-mails on “the big short.”
Got to love this:
“Bad news,” a May 17, 2007, email began from one Goldman employee to another. A security the firm had underwritten and sold had just lost value, costing Goldman about $2.5 million.
Further down in the email, the employee, Deeb Salem, wrote “Good news…we own 10mm protection…we make $5mm.”
The firm made $5 million betting against the very securities it had underwritten and sold.
http://www.youtube.com/watch?v=xFgSDyFjW68
SEC staffers watched porn as economy crashed
@ Harry – Yes, and now politicians are using that porn consumption as a way to discredit the SEC in the hopes of making the SEC’s Goldman fraud case and any future SEC fraud investigation look “suspicious” in the minds of the public.
Ok Max
Seeing how GREEKS are going IMF, who will be next?
Spain?
France?
I suspect Blighty will be in Nov ish time.
Mike
during the crash and bailout the defense was ” nobody could have seen this coming”. looks like plenty of bankers saw it coming. these guys should hang on there words.
http://www.dailymail.co.uk/news/article-1268378/Goldman-Sachs-conflict-inflated-Lloyds-bail-costs.html
@Mep, Harry,
The GOP has nothing else. They always show there true colors they always revert to protecting their masters the oligarchs. No matter what the cost to America the GOP just cannot help its self. What a joke of a party what a pile O shit of a party. Grrrr.
@Max
Synthetic CDOs was meant to act like insurance to allow for the hedge. One aspect of all of this that i would like to see picked up on is all these banks and hedge funds that was acting like insurance companies when in fact they had no due dilligance performed to be able to do so.
Either it was a case of, in some oblique way they thought that “Mr Derivative Market” had enough liquidity to allow for some hypertheoretical zero sum game to be played or they were running a ticking clock ponzi scheme with the entire economy of the world being the counterparty.
We may all be a little bit Neanderthal as study finds species interbred twice with humans http://www.dailymail.co.uk/sciencetech/article-1268003/Neanderthals-humans-interbred-twice-scientists.html
A new study suggests that most of us have some Neanderthal genes in our DNA. Scientists believe our ancestors may have bred twice with the extinct species
Dinosaurs ‘killed off by a sudden drop in temperature and NOT by a comet http://www.dailymail.co.uk/sciencetech/article-1268305/Dinosaurs-killed-sudden-drop-temperature.html
Rumbling again, Iceland’s volcano throws up more black smoke against the amazing backdrop of Northern Lights http://www.dailymail.co.uk/news/worldnews/article-1268225/Iceland-volcano-Northern-Lights-appear-ash-plume.html
Hitler Downfall parodies taken down from YouTube – but are being replaced faster than they can be removed ahhaahahaah ! We Win! http://www.dailymail.co.uk/news/article-1268028/Hitler-Downfall-parodies-removed-YouTube–posted.html
Quieter activity on Sun may push Britain into a modern-day Little Ice Age http://www.dailymail.co.uk/sciencetech/article-1267757/Britain-facing-bitterly-cold-winters-drop-solar-winds.html
Goldman Sachs
their incompetent IT department should have been using encrypted email for all sensitive correspondence
this is not rocket science
this email trail – obtained by Carl Levin’s Senate committee AND the SEC – is going to cause them big time trouble
strong encryption is readily available to individuals and small businesses, e.g.
http://www.hushmail.com/services/hushmail/
Max and Stacy ! Longue vie ! What a great great great show ! This one is to put in my archives for 100 years and listened to each week !
god max the camera just loves your face†
had to cool off my collar a bit, in that middle video.
@MAX
ROBBER BARON INDEX ?
You should make a list of the firms that rob, rape and pillage the investors and their clienst the most.
A sort of Robber Baron Index.
I would be cool to have let say the number of frauds, of money stolen by politicians and given to them, the number of firms bankrupted or governments or pension funds imploded, Il would be nice to know on average how each of these firms steal as a percentage of the economy or per client. A type of ratio of destruction of plus value and economic activity.
A ratio in sum of parasitic level activity.
I don’t understand the vitriol against goldman.
I don’t see any of YOU people doing God’s work.
@Timothy Geithner
He, Timmy! Get your hand outof the cookie jar.
I saw you putting it in again.
big news
http://www.indymedia.ie/article/96445
Max touched on the solution…
GIVE CREDIT (via Loans, Mortgages, Margin Accounts, whatever) TO DEAD PEOPLE!!!
And while we’re at it… let pets get credit,too !!!!
I know my Cat would like a $10000 Credit Card…
In fact, I just drew a picture of a stick-man… I’ll call him Mr. Bojangles…
He wants an investment loan for $1BN…
WE NEED NEW BUBBLES!!!!
http://preview.tinyurl.com/yaobo5v
This article is intriguing. Apparently it’s “computationally impossible” to detect the toxic assets hidden in a CDO because there isn’t enough computing power in the world to go through the endless permutations. However if you, yourself selected the toxic assets, (and therefore have material info that the buyers don’t) you know the probability is very high that they will default. What a scam. These securities were created from the start to defraud others.
rory gallagher (1948-1995)
great Irish blues rocker
(sorry for being a fan-atic, but i saw him live twice)
Tattoo’d Lady
http://www.dailymotion.com/video/xg3qu_rory-gallagher-tattoo-d-lady-1977_music
http://www.bluesradio.co.uk/
no kidding i’m ready to fight. i bin looking for my baby all night. ready as any man can be. @Snoot you ain’t leaving without a fight champ.
no phil, no snoot, no wl. a lot of other fucks too. where’s that fucking underfunded. fucking lame.
and that fucking stuck up mike?
now i am ascared.
http://www.economicpolicyjournal.com/2010/04/heres-serious-situation-that-could-blow.html
I found myself incredulous at the headline here:
Banker To Bikers Fights To Maintain Fed Oversight
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aF3f2duDMzNs
Max a load of silly middle class brats that in 10 years will be driving BMW’s!
Give over!
Mike
Max, your guest, Mr. Denninger, seems, at times, too willing to give Goldman a virtual free pass? However, Goldman’s financial positions were illegal, according to common law:
DEFINITIVE ILLEGALITY OF SECURITISATION RECONFIRMED IT IS ILLEGAL TO ASSIGN AN ASSET WITHOUT THE ASSET-OWNERS PRIOR WRITTEN PERMISSION. ALL ENGAGED IN THIS RACKETEERING KNOW IT.
In addition to being ILLEGAL UNDER U.S. LAW, securitisation is ILLEGAL UNDER COMMON LAW. If the prior written permission of the mortgagor (or other type of asset-holder) has not been obtained in writing, and in such a manner that the party IS FULLY AWARE THAT THEY HAVE GRANTED SUCH PERMISSION, the transfer and all subsequent transactions are ILLEGAL.
Moreover, the legal axiom that the money you make from exploiting and abusing my money is my money likewise applies. PLUS
ANY CONTRACT ENTERED INTO FOR AN ILLEGAL PURPOSE IS NULL AND VOID.
Self-evidently, this study focuses on the US legal position. But the same basic principles apply in all Common Law Countries. So far, the talking heads in the so-called Mainstream Media have chosen to ignore the fact that securitisation is ILLEGAL. Reality will soon be catching up with them, just as it is at last catching up with the likes of Goldman Sachs and other protected enterprises.
http://worldreports.org/news/284_definitive_illegality_of_securitisation_reconfirmed
http://www.parenting-healthy-children.com/Parenting.xml
I’m not an expert, but, I suspect, if Goldman were prosecuted under admiralty (international law) law, all their corporate and individual assets could be confiscated including the liquor they intended to use to drawn their sorrows…
Denninger mentioned Cuomo as prosecutor. He’s compromised, according to Catherine Austin Fitts.
F*ck the Greeks!
They brought it on themselves!
Mike
@G7enn common law is only for a select few, its definatley not for the peasantry. All other laws are ink on paper
GL
http://news.bbc.co.uk/1/hi/business/8641631.stm
“Riots”
I been in a RIOT!
That was not a riot!!
Not even a toytown one!
Mike
Dylan, Harrison, Clapton, Petty, McGuinn, Young
http://www.dailymotion.com/video/xwmbe_bob-dylan-george-harrison-neil-youn_music
@Mike
And F@ck the lenders that lent all this funny money too. Don’t forget the really stupid lenders. People talk in the media about the “aid” of the IMF. And who the hell is really paying these bastards from the IMF. Us ! Again and again and again. Tilll death do us apart. Banking fascists. Privatize the profits and massively socialize the losses and the debts. We will have to take out these criminals organization. They are sucking the blood out of the world economy.
http://www.youtube.com/user/fal2grace#p/a/u/0/Jr-3AGpT0yM
this is for you max
the guy yesterday just said 10 thousand protesting in greece
look how the greeks are happy about there being bankrupt
the delusion is it will last forever
I wish i was dead
http://www.altfrankfurt.com/Altstadt2/Judengasse/Rothschild/Judengasse1869.htm
Great show max..
Great guest too!
Bored Irish farmers…
http://www.youtube.com/watch?v=UH8spkQMngk
still no P/G?
And here I thought it was reptoids, space aliens, the vatican, bohemian grove, and the luciferian controllers.
LOL The kamasutra of fraud—-Bonn thats for you mate
ever since the imf lost its south american accounts, via hugo chavez, they have been trying to enslave the poorest and smallest countries in europe, they will start small, iceland and greece, and then move up the food chain
wow lot of anger here tonight, must be the nearness of Nibaru
@ronron
hope all’s well!
Led Zeppelin – Rock’n'Roll (1972)
http://www.youtube.com/watch?v=y3bcAKErY1U&feature=related
Looks like the UK prison economy on fast tracl growth
http://www.guardian.co.uk/society/2010/apr/23/early-release-prison-numbers
someone say angry?
here’s the Angry Samoans with ‘Election Day’ (80′s punk rock)
http://www.youtube.com/watch?v=1GYAYHlUz5w
The Who
who are you – 720p HD
http://www.youtube.com/watch?v=W0VIi48EnSs
my generation
http://www.youtube.com/watch?v=uswXI4fDYrM
Agression – Money Machine
http://www.youtube.com/watch?v=ybEFmSOG3HQ
DRI – Money Stinks
http://www.youtube.com/watch?v=RgLw2fYMYKU&feature=related
Government Flu – The Dead Kennedys
http://www.youtube.com/watch?v=678shOI0wdg&feature=related
The word “peak” occurs to me. Like peak oil, peak food, peak water, PEAK POPULATION, and now peak fraud. Seems like a pattern!
when will we hit peak terror?
after peak bust?
I remember when ‘peaking’ refered to the high point of an acid trip.
ah the good old days, when the bankers banked, and the hippies took acid
Jefferson Airplane -White Rabbit-
http://www.youtube.com/watch?v=WANNqr-vcx0
(is hbo ascared of max and stacy? the board room probably is, but the sales dept. must be drooling over the prospect!)
we are on the “highway to hell” HeHeHe! … http://www.youtube.com/watch?v=aQIxn7s3ym8
now its time to go get sh%t faced … http://www.youtube.com/watch?v=X80Qjh9Yivs&feature=related
In case this has been missed
New Goldman PR Disaster: Execs Celebrated Subprime Implosion
http://www.nakedcapitalism.com/2010/04/new-goldman-pr-disaster-execs-celebrated-subprime-implosion.html
all aboard!
Ozzy Osbourne – Crazy Train
http://www.youtube.com/watch?v=3MLp7YNTznE
Just waiting for “the other (next) shoe to drop.” It feels like we are on the edge of something.
oh ya fundy!! … lets go to the jungle … http://www.youtube.com/watch?v=g_enNmzWn6Y
And if all the gloom is not enough for you, here is more (I found it referenced on Chris Martenson’s site:
http://www.countercurrents.org/arguimbau230410.htm
let’s clang some iron … http://www.youtube.com/watch?v=rrSiIqCpxB8
wonder what may day will bring?
Loyalty Day?
http://en.wikipedia.org/wiki/Loyalty_Day
Law Day?
http://en.wikipedia.org/wiki/Law_Day
AC/DC – Stormy May Day
http://www.youtube.com/watch?v=5OKruLn3A9Q
Nothing like the iron age!
Slayer South of Heaven
http://www.youtube.com/watch?v=BwLtTa2trRs
Slayer – Dittohead
http://www.youtube.com/watch?v=1bfDBZX0j_0&feature=fvw
My intuition tells me that no one will be handcuffed, there will be no perp walks, and business will go on as usual because the majority of Americans will be satisfied with a civil case. Bummer. Where’s the outrage? Where’s the porn? At least let us have some free porn since the SEC has been indulging themselves so generously.
@Ronron
These terrorists with their summer camps are real dangerous you know.
All arrested under the “Patriot Act” and the “Enemy Belligerent Act”. Hey Ronron ? You and me are next. Probably all to the lake and opening the summer camp.
MY PRECIOUS!!!
Llyod Blankfein and Golem.
The similarities are uncanny
http://www.youtube.com/watch?v=DLvIFRNbqOs&feature=related
http://2.bp.blogspot.com/_sW65ilskOC8/SmCDZwoIDzI/AAAAAAAAYqQ/-dUq595Z2nc/s400/LloydBlankfeinBlackandWhite.jpg
I was trying to stay louche from this site for the weekend as I’m on a stag but after a great rebel song sing song I stumbled across you’z again.
Max, thanks for staying in tune with Irish affairs (see indymedia link) you shouldn’t have to, we’re soo small on the scale of things, it bloody breaks my heart man, I wish I could help you, or do something, but I’m just a ‘joe bag of guinness’, a charlatan.
I find myself sometimes questioning Max’s views but anyone that questions his or stacy’s integrity can fuck right off. i won’t have it. karmabanqueradio.com. i loved those videocasts.
Max, going to see Ray Mazerak and Robby Kreiger in Dublin in July – jealous?
@Youri
It is nice to recognise the beauty of the icelandic volcanic eruption.
All we here about is airline losing money. Whatevs.
Awesome piccies.
“So when do we dismember Portugal, Spain, Italy, Ireland and France ?” Lloyd Blankfien.
The ressemblance is stinking indeed with the Golem.
http://boombustblog.com/reggie-middleton/2010/04/24/lttp-late-to-the-party-euro-style-goldman-recommends-betting-on-contagion-risk-in-portuguese-spanish-and-italian-banks-3-months-after-boombustblog/
THE VAMPIRE FROM GOLDMAN RECOMMENDS SHORTING BANKS
in Spain, Italy and Portugal. Casus belli.
So basically Paulson sold I.E.D. dog poo sprinkled with hundreds and thousands and spray painted pretty colours ? lol Australian newspaper cartoonists would have a field day with this, Aussie politics is so boring right now, all the hilarious stuff’s happening in the U.S. and U.K.
Karl seems like he’d have the cash for a cam with a microphone, he looks like a KFC drive through attendant wearing that stupid thing. Or maybe a strapped for cash Borg TREKKIE ! Giggle Snort….
IMF remix
http://www.youtube.com/watch?v=cwtW84e4ZAA&feature=PlayList&p=0DDC3E0AD37DA8C3&playnext_from=PL&playnext=1&index=43
9 years of surplus real estate in the US.
http://www.financialarmageddon.com/2010/04/9-years-worth-of-homes.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+financialarmageddon+%28Financial+Armageddon%29
Memorable Comments: Fraud is a Growth Industry
United Kihgdumb problem’s 10 times more bigger that Greece’s problems !
http://prudentinvestor.blogspot.com/2010/04/eu-sovereign-debts-exploded-in-2009.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ThePrudentInvestor+%28The+Prudent+Investor%29
United Kingdumb 10 times bigger. Ireland too.
And Spain’s problems 6 times biggers than Greece’s problems.
The euro is history. So is the pound.
http://news.yahoo.com/s/ap/20100425/ap_on_bi_ge/us_goldman_sachs
As the U.S. housing turned downward in January 2007, a Goldman Sachs trader wrote in e-mails to a woman he apparently was courting that investments he had sold were “like Frankenstein turning against his own inventor.”
“I’m trading a product which a month ago was worth $100 and today is only worth $93,” wrote Fabrice Tourre, who was charged along with the bank in a civil complaint filed this month by the Securities and Exchange Commission. “That doesn’t seem like a lot but when you take into account … (the investments) are worth billions, well it adds up to a lot of money.”
“Of course we didn’t dodge the mortgage mess,” CEO Lloyd Blankfein wrote in a message dated Nov. 18, 2007. “We lost money, then made more than we lost because of shorts.”
Totally off topic here but now Arizona has passed the illegals bill (and will be the next California) and seeing as how dying things are profitable in the financial markets it’ll be intresting to see who makes good from Arizona going under.
Mind-Controlled Robots and Electronics in 10 Years http://www.popsci.com/technology/article/2010-04/japanese-titans-industry-aim-mind-controlled-robots-and-electronics-10-years
Intel Wants Brain Implants in Its Customers’ Heads by 2020 – Researchers expect brain waves to operate computers, TVs and cell phones http://www.popsci.com/technology/article/2009-11/intel-wants-brain-implants-consumers-heads-2020
The IMF tells the Greeks they have nothing to fear but fear itself, for they are there to help them with friendly advice: http://preview.bloomberg.com/news/2010-04-24/greek-citizens-should-not-fear-advice-bearing-imf-strauss-kahn-says.html
18 veterans commit suicide each day http://www.armytimes.com/news/2010/04/military_veterans_suicide_042210w/
Bernanke Admits Printing $1.3 Trillion Out Of Thin Air http://usawatchdog.com/bernanke-admits-printing-1-3-trillion-out-of-thin-air/
@MilliniumJane – yes, I wonder about the absence of outrage, too; so I doubt there will be cuffs . . . for the perps involved in the theft of trillions via their fraud schemes; no the handcuffs it seems are being slapped on those on to whom all the outrage seems directed . . . the guys standing on street corners looking to work for $4 an hour
@stacyherbert
Frankly I think there realy is not a EU cause what’s Goldman Sachs doing in Greece and Italy and why does the IMF has to step in? This shows that the EU has failed.
It also could be a tricky move to a New Economical World order by bringing in the IMF into the EU.
The SEC has failed but so did the EU and more so cause Europe held about 70% of toxic assets. The control mechanism of the EU isn’t realy there so in effect cannot prevent anything fuzzy going on in the EU countries.
Interesting read:
All quiet on the Goldman Sachs front for talkative Eugene Regan
“When people here think of Goldman Sachs they think of Peter Sutherland. Sutherland is just about as impressive as a man can get. His list of achievement is as long as my leg. I do not intend to recite it here, but for one: he is chairman of Goldman Sachs International.”
http://www.independent.ie/national-news/all-quiet-on-the-goldman-sachs-front-for-talkative-eugene-regan-2151737.html
btw.. Peter Sutherland along side Dermot Gleeson of Allied Irish Bank, Are both on this years list of Bilderbergers..
http://www.somethingmustbreak.net/id147.html
It just gets smellier and smellier….
Oink.
Greece, Out of Ideas, Requests Global Aid (the New York Times) http://www.nytimes.com/2010/04/24/business/global/24drachma.html?hp
@Youri
Good video of Ron Paul and Bernanke.
So, the IMF (aka Feds big brother) creates money out of nothing and ‘loan’ it to Greece, etc.
Then the IMF impose conditions on Greece, and these failed states pay back the debt IN GOLD (according to IMF website).
This goes on forever as the debt can never be paid off.
The loan is made from NOTHING and paid back in GOLD or other real assets.
Good business plan I think.
What a scam!
For Greece, Spain, Italy, Ireland and Portugal, the financial crisis has highlighted the constraints of euro membership. Unable to devalue their currencies to help regain industrial competitiveness, and impelled by European Union fiscal agreements to meet certain budget targets, they are facing years of belt-tightening just when their economies could use a lift from additional spending.
Other countries like Germany, the Netherlands and Austria have kept deficits down while retaining an edge in global markets, in part by restraining domestic wage increases.
France lies somewhere between the two camps.
Mr. Lyons at Standard Chartered Bank said the long-term choices for the euro area appeared stark: either push on toward a political union, HANDING BUDGETARY POWER TO A CENTRAL AUTHORITY, or form a “two-speed” block.
The bailout package has raised a host of technical as well as political issues for the euro area, because the euro’s founding treaties insisted that no such step could be taken.
Berlin will raise its share of the money on the markets through KfW, the state development bank. Guarantees for those loans require approval by lawmakers.
Trickle, Trickle.
The sound of Greece’s gold reserves being cyphoned off my IMF interest payments.
Ok, It trickles when its hot
http://www.usgold.com/world-gold-holdings/
Eurostat DEBT/GDP http://recruitmentmatters.nl/wp-content/uploads/2010/04/image148.png
what amazes me is that Goldman will even screw over other relatively large banking clients like ABN-Amro and RBS. How do they think this benefits them in the long run or is it just that the other banks will say ‘oh, you sneaky bastards, you got one over us this time. Still on for golf and champers this afternoon?’
@Paddy
Maybe Goldman Sachs know it’s the END GAME and just try to steel as much as possible before WOIII round 2012.
is it possible that Paulson can “protect” himself by stimulating a massive short cover in the paper gold market ? He is long gold correct ?
If he was able to position himself to “profit” in a CDO market panic why could he not be positioned a similar way with regards to gold ?
Does he have this kind of leverage or is he in over his head ?
is this why “they” are going after him, he is driving gold against players that have connections into regulators ? or is he being thrown under the bus with the expectation that OUR trip down the rabbit hole will end at that depth of “seeing” ?
What Max calls “zombie CDOs” are really COUNTERFEIT. Arrest them.
Good show, enjoyed your long winded obscure analogy and Dennigers response ‘no’.