[1125] The Truth About Markets – Resonance 104.4 FM – 08 May 2010

Stacy Summary: We’re back. Told ya!

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111 Responses to [1125] The Truth About Markets – Resonance 104.4 FM – 08 May 2010

  1. Many thanks for what has turned out a week on to be the only beleavable coverage of this event…

  2. “The Greek Tragedy”—Old story, (same “threats”), told in a new way.
    Today:… British/ EU/ IMF Empire to Greece “You must buy… something… war planes–or ELSE”.
    150 years earlier:,,, Brithish Empire to China “You must buy…something…opium–or ELSE”.

  3. Palantíri

    Nice to hear the show again, Thanks! I enjoyed it! :)

  4. C.I.A. just laundered 1 bilsky of Afghanistan smack ? lol

  5. great program!

    good news! on Iceland – especially arrest of Iceland banksters

    the sound track from floor of the “flash crash” seems totally contrived

    the whole episode seems contrived

    is it just another diversion from other ongoing massive crimes – hmm?

    only as an example – maybe related, maybe not, but usual suspects -are once again – involved

    no joke

    ” … Dr. Ott has subsequently confirmed from two sources that Goldman Sachs was indeed in on the shorts being placed on TransOcean stock. (See Email from Don Nicoloff documenting Goldman Sachs short puts on TransOcean stock.) And he has confirmed that the comedian was aware of that as well. …”

    http://pesn.com/2010/05/05/9501645_No_joke–Goldman_Sachs_shorted_TransOcean/

  6. Photoception

    I’ve listened to this market crash audio several times, it sounds literally like a nuclear reaction. To me it’s not surprising the scale of the drop but the way it went right back up. I think most people assume that it was just a blip and they canceled the “bad trades” making the market go back up. This audio sounds like JPM etc got to buy s&p futures at a discount.

  7. “Stacey’s Pastry” is a better name for your new item in the show. I’m looking forward to it.

  8. I’ve missed TAM but now it’s back I just feel a bit depressed.
    Can I suggest a item called “Pastry of the week” where Stacey tells us about lovely delicacies from the Patiseries. That would really cheer me up. And I miss the cafe and the clattering in the background! What happened to that?
    Love youse.

  9. NYSE, a horse race for mechanical horses…

  10. frances snoot

    @maxkeiser:
    Isn’t it true that Iceland is currently under an IMF Stand-by-Agreement? How can you declare Iceland the future of freedom when they have been stripped of their national sovereign decision?

    http://www.imf.org/external/pubs/ft/scr/2008/cr08362.pdf

    http://uk.finance.yahoo.com/news/iceland-loan-review-scheduled-april16-reuters_molt-4f241eacdc63.html?x=0

    http://www.imf.org/external/np/sec/pr/2010/pr10156.htm

    What freedom?

  11. frances snoot

    @snoot – not sure why you think any algorithm or engineered exchange rate system would alter the perceived or the intrinsic value of gold

    The intrinsic value of gold is a matter of subjective imagination. As far as the ‘engineered exchange rate’, it would most likely be true that the exchange rate has been engineered for quite some time, if not always. The difference is the access to liquidity, which is what I’ve been going on an on about.

    The ability of the monetary authorities to control capital flows (they are already ‘doing it’ in the SBA (stand-by-agreement) countries, and to define the qualities of a ‘liquid asset’ are really the precursors of an end-game which, unfortunately, will be conducted for the profit of the criminal siphoning profit of our ‘G20 global governance’.

    If we cheer the regulatory agency proceeding with this tyranny and scapegoat ‘speculators’ then surely we are only cheering the future castrated state of the global citizen within the context of a hegemonic world order which will be truly HEARTLESS.

  12. frances snoot

    @Stacy:
    The first rule of survival is that there are no rules.

  13. @all – thanks for all the nice comments about the show; we will try not to go away again for two weeks!

    @snoot – not sure why you think any algorithm or engineered exchange rate system would alter the perceived or the intrinsic value of gold; any attempt to fix the rate of gold to any sort of construct would surely just obliterate that fixed rate as it has done dozens of times in the past; and yes, the value of gold rather than the gold itself is being leveraged through the etf market, there is no gold that can exchanged for that holding so when they blow there is nothing at the end of that contract, it will just be evaporated wealth; but this is the same thing across many many sectors of markets, as we saw with AIG whose triple a rating was leveraged and as the US triple a rating is being leveraged to even more extreme levels beyond what can be sustained, many usually lose their shirt in such a situation; and, finally, @snoot – you say ‘faith won’t buy bread’ (which I take to mean that gold won’t buy bread); so I’d like to know what you are planning to use to buy yourself bread when paper currencies collapse . . .

  14. @ Bonn

    Selling suppositories is easier if the vaseline sales rep does a combo deal

  15. Al-doomandbloom

    use HAARP to generate earthquakes…and then offer RFID as a solution ..which everyone will happily agree to..

  16. Al-doomandbloom

    Radio tags may help save lives after earthquakes
    http://news.oneindia.in/2010/05/07/radiotags-may-help-save-lives-afterearthquakes.html

    India in full control of the Puppet masters? i always take conspiracy theories with a pinch of salt…but news like these…hmmm

  17. hypercarrot

    youri “Oil Rig was blown up by 888 Cheney (Who else)”
    Donald Rumsfeld?

  18. suppositories salesman
    lolololololololololol
    ROFL
    Hic ;-)

  19. Great Show learnt a lot Thanks
    Bonn

  20. LOL
    http://www.infowars.com/bernanke-tells-students-money-alone-doesnt-buy-happiness/
    Third Grader Gets Week of Detention for Candy
    http://www.infowars.com/third-grader-gets-week-of-detention-for-candy/
    Sec. State Clinton Supports Bill to Strip Americans of Citizenship
    http://www.infowars.com/sec-state-clinton-supports-bill-to-strip-americans-of-citizenship/
    @ Max & Stacy do ya still hold yer US citzenships
    lolololol
    ROFL
    Hic ;-)
    Tis is a movie I am in Iam sure – Bonn

  21. Richard Clarke Says Cyber Attack Will Wreck U.S. in Fifteen Minutes
    LOL
    http://www.infowars.com/richard-clarke-says-cyber-attack-will-wreck-u-s-in-fifteen-minutes/
    Why are lunatics who have no clue how ta tubes werks giving legislation

  22. If the MSM is anything to go by Spain will be the next sovereign state attacked.

    http://news.bbc.co.uk/2/hi/business/10102152.stm

    How do these journos keep their jobs?

  23. http://www.commondreams.org/view/2010/05/08-8 by Danny Schechter

    In the article, Danny Schechter mentions Max Keiser:” Financial analyst Max Keyser sees an outbreak of “financial terrorism.”

  24. Max hit the nail on the head.
    Americans are stuck in denial, an endless doom loop and perpetually depressed.

    Civic minded people need to find or create a new home.

    To save America states/regions must secede, it’s the only way to stop the crooks

  25. Creative Destruction

    @ Max

    There are moments when you speak in pure poetry. I know you spent some time in that rat hole called Wall Street but thank you for moving away from the dark side.

    P.S. Goldman Sachs is scum!!!

  26. cookie cutter

    HAL 9000 is in control.

  27. @Max, Stacey

    As you know Americans have been getting fat and lazy. This seems to have spread to the fingers resulting in Fat Finger Syndrome. This from Greg Irwin on finger fitness:

    http://www.youtube.com/watch?v=QGq_gcEdxEs&feature=player_embedded

  28. Adam Gibson

    Oh by the way, Stacy, it appeared from today’s show that you thought the guy on the audio (Ben Liechstenstein) was an actual local on the floor in the S&P pit; he’s not, he does commentary from the pit for a service he runs http://www.tradersaudio.com. I tried to explain it a bit in an earlier thread.

  29. Youri Carma

    @marietta

    Not only the British taxpayers. Calculated the Dutch citizen pays Euro 150,- on the Greek case and so do the Germans and other nations in Europe.

  30. Youri Carma

    @Adam Gibson

    No problem can go trough the stuff here http://forum.prisonplanet.com/index.php?topic=169995.0

    Especially this piece: http://forum.prisonplanet.com/index.php?topic=169995.msg1011046#msg1011046

    “we have a different market model than everybody else. We trade as fast as they do WHEN WE THINK IT’S APPROPRIATE.”

    “THIS IS PART OF OUR MARKET MODEL. WE INTERVENE HUMAN JUDGEMENT. “

  31. Harris’s Ablin Discusses U.S. Equity-Trading Systems

    http://www.youtube.com/watch?v=kpXzTQb9IEM&feature=related

  32. “nattering nabobs of negativism bumping in the night”
    William Safire meets Lenny Bruce? (strange meeting)
    Jim Morrison’s grave and derivatives?
    YOU, my friend, are hilarious.
    How does Stacy keep a straight face??

    Thanks for the splendid entertainment,

    The guy from earlier

  33. Adam Gibson

    Sorry to keep pumping my agenda here, but Thursday was REAL – here are the opinions of a few traders.

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=198126

    Another opinion I read which was fascinating and probably correct: given that experienced traders know, especially after last week, that lowball bids will just get busted, they’re going to STEP ASIDE and NOT BUY if there’s a crash! Think about how poisonous that makes market intervention.

    Of course, most likely they will just implement limit up/limit down on individual stocks. Anyone who’s seen how that works out on commodity futures knows that it won’t be pretty if we have a full blown crash. It often leaves people “holding the bag” for days at a time. That’s the kind of thing that can leave you without a brokerage account on Monday, without a car on Tuesday and without a house on Wednesday.
    (Well, OK, not if you avoid leverage, margin and debt … :) )

    Actually starting to believe that a genuine replay of the 30s is possible.

  34. Stacy and Max

    RE: Goldman Sachs Insider Trading

    1. Is it true that it’s not considered insider trading for Goldman to 1) hide Greece debts in financial instruments and have sole access to this information of debt being exposed at a future point and 2) take a proprietary trade against Greece’s bonds or otherwise trade on that knowledge?

    2. If so, is there any legislative effort to make insider trading rules cover these various derivative trades?

    Thank you,

    Same guy

  35. Stacy and Max

    RE: Your S&P Futures Theory

    1. How much would it have cost the attacker in dollar terms to generate that move?

    2. Can’t any trade be traced back to the identity of its buyer or seller, therefore, identifying who (or the several whos) did it?

    Thank you,

    Interested Listener

  36. the market has already discounted all that is known,
    plus some of the ‘known unknowns’

    translation of Rumsfeld’s ‘unknown unknowns’:
    we do not know what we do not know

  37. Greedy Greek yes men need to dump the friggin’ frigates.

  38. Reach out to Dave.

    Sorry, I know its there for all to listen to but I am cacking myself here.

    You guys been saving all the TAM goodies up for weeks.
    Maybe do the show less if this is the result.

    Brilliant.

  39. Maybe “Muttering” I think.

    Either way it is Gold. :) :) :)

  40. Yeah baby!

    “Nuttering Nabobs of Negativism”

  41. Oh man.
    I’m gonna listen to that again, it just flows so well.

    Inspired stuff. hahaha

  42. Hahahahahhahahaha

    Max.
    That was an awesome poetic diatribe about the PM doing their job. Just sending to all and sundry now. If only you could frame audio ;)

    I think that is a trend. Most people spend 70% of their time at work doing something that isn’t their actual job. It usually involves spin, self selling and white-anting others to make yourself look better.

    Again, wheres the productivity in that they are always on about?

    It is Crapola (a new kind of cereal) :)

  43. Youri Carma

    Listen to Anti-Illuminati on http://polygraphradio.com/ now

  44. frances snoot

    The value of the sdr is not dependent on the fiat/dollar exchange system because the sdr inherent (real) value is only represented within the context of privileged access and trade conducted through the G20 system of sovereign/development banks.

    The tail to be ‘cut off’ (as El-Erian indicated) is the exchange rate system of dollar/value indexed currency trade. It is now superfluous to the function of the reserve system.

  45. Great show!

    Thanks for explanation re the markets and the occurances last week Max.

    Good name for the show :)

  46. sullymandias

    Thank you so much for more TAM!

    Your video content is most excellent, but I work in front of a computer so when it is time to kick back, sometimes the last thing I want to do is look at a screen. Like to close my eyes and listen to you guys rant.

  47. Blankfiend is doing “Gods work.” everybody does gods work. all the creapy crawlers are engaged in the work that god wants done.

    We too, are in the mix.

    God has plans, and [he/she] will need… (contractors… /s) to perform it.

    God will kill the whole planet when the time comes, so don’t worry too much if it seems that… God needs to do a little “house cleaning,” and that may include, like you do with the little critters, that start to get way too multiferous. like any of the little insects, that we routinely, ( ! ) dust.

    Insects of the veld unite! be ready to get dusted. There was a way that it may have worked, but it seems not to have gone right, IE: the waste of the energy component, ( massive hydrocarbon deposits, ) that was gods gift, that was for the purpose to do the real work, not to make every shit head the equivelent of a magic carpet jockey, vise vise what the automobile really fundementally is.

  48. frances snoot

    credit default swaps written against them will rise in rates

    This is the stupidest thing I’ve read in a good long while.

  49. frances snoot

    Dr. Faber

    Strange the trust given to the man. Do you know him personally, FranSix?

  50. frances snoot

    One could say there are currently two systems operating within indexed trade: the dollar system and the sdr system. The sdr system is a liquid market within the context of the monetary authorities and privileged development banks.

    Why do we assume that the sdr system is dependent on the dollar/currency system for life-force? It is not even apparent from the IMF site how the sdr is valued within the context of the G20 monetary sdr system:

    “The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, however, the SDR was redefined as a basket of currencies, today consisting of the euro, Japanese yen, pound sterling, and U.S. dollar. The U.S. dollar-value of the SDR is posted daily on the IMF’s website. It is calculated as the sum of specific amounts of the four currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.”

    http://www.imf.org/external/np/exr/facts/sdr.htm

    The US dollar value of the sdr in only relevant within the context of the dollar/value exchange system. What is the new relevance within the context of global trade of the sdr? Within the new multilateral exchange rate system?

    Is the sdr beast system already operating independent of the dollar?
    Are we only being denied our ‘toys’?

  51. @SDRs = sheer, utter rotten nonsense – An obligato to a crooked financial system in decline, a last gasp effort.

    There is no messiah in SDRs, they are either a straw man, or a trojan horse for the commercial banking sector to protect its interests, to the detriment of sovereign bond markets around the world. They seek to prevent declines in interest rates on sovereigns, because this makes corporate lending impossible.

    SDRs represent a last gasp effort to save a creaking, failing ship in the commercial banking sector as if it were a three penny opera.

    Gold, when refined and struck, can last thousands of years and never burn, tarnish, or change due to its sub-atomic structure. This is a scientific fact.

    If I were a banker or central banker, I would be stockpiling on gold so that it represents at least 5% of my asset balance, or as Dr. Faber puts it, 15% of your money should be in gold bullion in case the entire financial system collapses, so that your gold value will make up entirely for your losses. In effect, he’s saying gold will price in 6 – 7 times higher.

    No SDR will ever hold its value in the face of interest rate declines, because credit default swaps written against them will rise in rates.

    SDR are sheer utter garbage, rotten nonsense. AND YOU POST THIS CRAP DAILY TO THIS WEBSITE.

  52. frances snoot

    So when the SDRs collapse in short order because they are paper promises with no interest coupon, and they represent another tier of debt on debt-ridden economies, who in their right mind will sign on to so visibly insane a plan?

    When Straus-Kahn promised the world a new reserve asset (like the sdr, but not like the sdr) he was indicating that currencies will not be the loan representative within the sdr-value indexed basket. Zhou maintains that GDP should be included. GDP is being redefined by Stiglitz for Sarkozy.

    They are proceeding in an orderly fashion: no one is hiding the outcome-based agenda.

  53. frances snoot

    FranSix:
    Gata has been maintaining that gold is leveraged through the financial etf markets (derivative trades). Shall we say that the price of gold is being leveraged or the value of gold. Or you indicating that gold value is not a correlate of its price?

    Faith won’t buy bread. Unless the Messiah comes again.

  54. Youri Carma

    Oil Rig was blown up by 888 Cheney (Who else)

  55. Keep up the good work you two.

    (Hummm…why hasn’t my last two comments appeared ?)

  56. pound your bananas two pound a pair……oh and zucchinis, we call them courgettes.
    @Mother Earth; I think so! but she still makes more sense then anyone on sky news or bbc.

  57. Did you hear the shouting guy say…

    “Paper comes in a big seller”

    I don’t think he realised how right he will be.

    ALL paper will be a big seller, whether its ETF’s, shares or Max’s toilet paper fiat currencies :)

  58. Youri Carma

    Truther – Anti-Illuminati on LIVE RIGHT NOW! http://truthfrequencyradio.com/?page_id=760

  59. @SDRs

    If gold wasn’t a store of value, why then can they leverage it 100X in the bullion markets without risk, and not anything else? That no other financial instrument has a risk free backbone like this? Leasing bullion out 100X over, selling these leases for years into the markets, and yet bullion still stages a 10-year rally?

    How many times will they be able to leverage an SDR? 10X? I hear 10X is the rule of thumb for financial instruments like derivatives, but due to competition, they’ll likely leverage 22X, which causes a financial collapse, once interest rates move against you, as in declining. They’re going to leverage up SDRs with derivatives after they’re issued and hold the credit default swaps on them? Which government will then redeem them? And how? With their already highly leveraged currencies in decline?

    Lehman was 40X and considered utterly corrupt. And when they print SDRs like they’re going out of style, that pay no interest, or devalue them to escape financial collapse, what then? An SDR crisis?

    So when the SDRs collapse in short order because they are paper promises with no interest coupon, and they represent another tier of debt on debt-ridden economies, who in their right mind will sign on to so visibly insane a plan?

    imo, coming interest rate declines will nip SDRs in the bud, because they have no hope of controlling interest rates as vending bullion leases into the market was supposed to control the decline of interest rates in the first place.

    SDRs are a straw man.

  60. frances snoot

    “How do we know the asset-pricing model is applicable? Are there other ways to test fundamental-based exchange rate models if beating the random walk in forecasting exchange rates is too harsh? While the asset-pricing approach doesn’t allow us to predict short-term exchange rates, it does lead to an interesting implication. If the exchange rate is determined by expected future fundamentals, today’s currency values should contain information about tomorrow’s fundamentals…

    Several recent studies support interpreting exchange rates as prices of long-lasting financial assets. The asset-pricing approach shows promise, even though empirical work hasn’t yet fully solved the exchange rate disconnect puzzle Meese and Rogoff introduced more than a quarter century ago. Other factors such as parameter instability and misspecification (for instance, Rossi 2005) may also play important roles in understanding the puzzle.”

    http://www.voxeu.org/index.php?q=node/1608

  61. the underfundedmentalist

    viva freakonomics,
    down with command consumerism!

  62. frances snoot

    @maxstax:

    The problematic is that the new reserve system (sdr being what was defined by the G20 as the most probable index/unit) will introduce a new means of defining exchange rate which will make the dollar value index trade mechanism (weighted basket, forex trade) obsolete. The commodity you term the standard (defined or undefined) gold will lose its value within the context of exchange-rate driven pricing.

    It is an act of verbal conjure to expect gold to retain any means of standard within the new system of standards. Indeed, the very act of initiating dialogue concerning the sdr reserve/multilateral exchange rate system is an act in defiance of gold value/standard.

    To indicate otherwise is to court the jester for the amusement and edification of the elite and the defilement of the common man.

    And Stacy: Osama Bin Laden has as much to do with 911 as Santa Claus has to do with Christmas. Even Dana Perino indicated he was not behind 911.

    Financial terrorism is not indicated by the unregulated access to capital but by the character of those men to whom capital is deigned. The new system is just as corrupt as the old system; and those who will decide to whom to deign access to liquidity are the worst of the criminals.

  63. eric v(ancouver)

    yay! i am so happy :)

  64. Stacey and Max. Glad I discovered you guys.
    Keep up the good work !
    However…What`s with the “crashing terrorists“ schtict…(sp)
    If you google “Urban Moving Systems“ or “ the Dancing Israelis“, and combine that with a basic knowledge of grade school physics… well…ok (fill in the blanks)
    Look forward to you hearing guys every week. Cheers.
    ( Alex Jones is a bit dodgey )

  65. the underfundedmentalist

    the audio clip sounds like a horse race,
    i guess blankfien wasn’t there to do god’s work, this time

  66. the underfundermentalist

    the audio clip sounds like a horse race,
    i guess blankfien wasn’t there to do god’s work, this time

  67. @ white hunter – market discount

    Donald Rumsfeld:

    “Reports that say that something hasn’t happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns — the ones we don’t know we don’t know. And if one looks throughout the history of our country and other free countries, it is the latter category that tend to be the difficult ones.”

    http://www.defense.gov/transcripts/transcript.aspx?transcriptid=2636

  68. Youri Carma

    Mmmm Market Maker. To come back on this Duncan who says” Duncan: I am not a trader any more I am just a guy running a business….”

    What’s the Freakin difference? He’s hiding his “Frontrunning – Inside Trading” the bastard!

    CEO of the NYSE explains what caused the drop in the market on 6 May 2010 http://www.youtube.com/watch?v=Up5XtW7kM_c

  69. V-E Day May 8 1945
    Canadians dead in Holland: 11,000
    wounded: 40,000

    ‘Ties between Canada and Holland were forged during the Second World War when Canada helped bring an end to the Nazi occupation of Holland and broke a surrender agreement between Germany and the Allies. The National is on location in Wageningen where celebrations marking the 65th Anniversary of the Liberation of Holland are being held.’

    http://www.cbc.ca/thenational/indepthanalysis/story/2010/05/05/national-victoryineurope.html

  70. Youri Carma

    Icelandic bank’s former chief arrested 7 May 2010, by Andrew Ward in Stockholm (The Financial Times) http://www.ft.com/cms/s/0/e6f64384-597f-11df-99ba-00144feab49a.html

  71. Youri Carma

    Greece forced to buy arms: MEP 8 May 2010, (AFP – Daily Times) http://www.dailytimes.com.pk/default.asp?page=201058\story_8-5-2010_pg4_9

    Reykjavik charges Hreidar Mar Sigurdsson with falsifying documents 7 May 2010, (The Times) http://www.theaustralian.com.au/business/industry-sectors/reykjavik-charges-hreidar-mar-sigurdsson-with-falsifying-documents/story-e6frg96f-1225863533417

    Iceland arrests ex-chief of collapsed bank Kaupthing 6 May 2010, (BBC News) http://news.bbc.co.uk/2/hi/europe/8665880.stm

  72. FiatMentalist

    Red Ice Radio

    The Hidden Roots of the European Union part 1

    http://www.youtube.com/watch?v=dI-9ipkG8ks

  73. Youri Carma

    That’s funny that Stacy mentions that clip cause I was playing a piece for a friend over the Phone -

    MUST HEAR: Panic And Loathing From The S&P 500 Pits 7 May 2010, by Tyler Durden (Zero Hedge) http://www.zerohedge.com/article/panic-and-loathing-sp-500-pits

    Click here for a first hand account of the most shocking 15 minutes in recent market history: MP3 Download Direct: http://www.zerohedge.com/sites/default/files/Market%20Crash.mp3

  74. Great show!

  75. Youri Carma

    Listen to Webster Tarpleys World Crises Radio 8 May 2010 http://tarpley.net/world-crisis-radio/ (MP3 Download on webpage)

  76. Great show…

  77. for the stoners..

    http://www.youtube.com/watch?v=_iotx6Zowr0

    welcome back TAM ,also..

  78. Sacramento Joe

    Thank god Stacy….you had me worried…..ahhhh…..now for my Saturday TAM fix……while I eat lunch.

    You are the best.

    Regards,

    Joe

  79. yeah!

  80. white hunter

    the market has already discounted what is know

  81. RIGHT ON! TRUTH ABOUT MARKETS IS BACK! Oh man, I was waiting and waiting and waiting, and FINALLY it’s back. I know you guys (Max and Stacy) are quite busy, but Truth About Markets is my all time favorite radio show/podcast, and just in general my favorite show, period. Its where Max becomes his Mad Economist (my spin on the “Mad Scientist” alter ego) alter ego. Not only informative, but also very entertaining and quite hilarious. Like when Max gets all riled up and Stacy has to calm him down, oh so funny and so great. Or when Max sings, or goes off on an epic soliloquy, so great I love it all, and I love you guys, you’re the best, keep it up!

  82. I read this somewhere, very good! lol

    So can we monitor when the Treasury has large upcoming redemptions? Should be a good indicator to short the equity markets.

  83. You gotta feel sorry for the serfs the shafting never stops

    http://www.mercurynews.com/re-golf/ci_15022019San Diego sues over employee pension paymentsThe Associated PressPosted: 05/05/2010 06:48:23 AM PDTUpdated: 05/05/2010 06:48:23 AM PDT
    SAN DIEGO—San Diego is suing to force its employees to pay more into their pension fund to make up for $80 million in investment losses.

    The suit was filed Monday in Superior Court against the San Diego City Employees Retirement System, which is funded by both city and employee contributions.

    The suit asks a judge to order the system to increase worker contributions. City Attorney Jan Goldsmith argues that under the city charter, workers must split the cost of making up the investment losses.

    Labor leaders fear about 9,000 union workers would be charged an extra $4,000 each.

    A ruling is expected before the city makes its annual pension payment on July 1.

  84. hypercarrot

    The sound sample is that God’s work….
    It sounds more as a Satanic ritual….

  85. What’s the music played in the beginning and the end of the show?

    Here’s another version:
    http://www.archive.org/details/TheTruthAboutMarkets12November2005

  86. what’s the bet that the world leaders will come up with a financial plan on Monday which ‘helps’ Greece, and just also happens to involve world government and a world currency…….Sarkozy has already hinted at it.

    Well, I suppose we all wanted change…

  87. kostakosta

    Can anyone understand if this is valid?
    http://dosepasa.wordpress.com/2010/05/06/οι-αποδείξεις-ενός-προδιαγεγραμμένο/
    Because Greek PM Papandreou was telling the Greek people that he’s asking for money from IMF because he can’t find cheap loans from anywhere else.

  88. Max “Cochese” Keiser

  89. MAX/STACEY

    I don’t know if this is real, supposedly the recording of a MarketMaker in the Futures pit (think it is the SP Futures) – opening admitting it is PPT via JPM pushing up the bid by 10 handles at a time! guy even says “JPM coming in” Posting from Twitter:

    rossgreenspan
    Epic squawk box of the SP during the crash. Makes the hair on my neck stand. (link to .mp3)
    http://bit.ly/ct89HR

    At first it sounds like a car/art auction then when price get around 90 down, panic sets in and you can hear it in his voice. Floor traders screeming in the background – no counter offers.

    (sound skips a bit)

  90. about fucking time. don’t try it again. ;-)

  91. shows. longtime between shows.

    Thought Max and Stacy had sold out.

  92. Just me? Been a long time between shoes?

  93. the underfundedmentalist

    max&stace! thanks for rockin’ me baby!
    Steve Miller Band – Keep On Rocking Me Baby
    http://www.youtube.com/watch?v=cCK6zhmA_wo

  94. Yes! TAMs is the best! Thank you!

  95. Marc Authier

    Fog. By the way ? The “ERROR” by Citigroup employee is probably not accidental.

  96. Stacy being stoned?

  97. Marc Authier

    Hung parliament or not, it’s the ordinary people that will be taken to the cleaner. Y-uk y-uk ! A Greece with fod and rain.

  98. Marc Authier

    Premier arrivé premier servi.