Stacy Summary: On the Edge; guest is Ellen Brown to talk about High Frequency Trading and more.
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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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- A Lightning War for Liberty
hang the banksters!
Peonage Envy going Viral
Brown phone call update:-
http://news.bbc.co.uk/1/hi/uk/8669816.stm
Mike
Listened the whole way through with interest to a clear and insightful presentation. Liked the reiteration, the analysis of arguments about “liquidity” and, in particular, the proposed solutions.
Please forgive the long quote…
The Daily Bell — Goldman Sachs the Anti-Christ?
http://www.thedailybell.com/1035/Goldman-Sachs-the-Anti-Christ.html
”The key word here is mercantilism. More than almost any other firm, Goldman sits at the intersection between government and private industry in America. That’s how it makes its money. By using and abusing the laws of the land to line its own pockets. Matt Taibbi, who is a very talented journalist and writer, seems only to understand that government should act as a “boot stamping on the face of Goldman Sachs – forever.” (Apologies to George Orwell.) One of the problems from our point of view is that even if one grants that government can find the right face to stamp, there is no guarantee that ten years from now government will not be stamping on YOUR face. You may derive a great deal of satisfaction from using the regulatory levers of government to pry triumphant justice – dripping with gore – from the chest cavity of Goldman Sachs, but maybe (just maybe) you are fooling yourself or setting yourself, your family and your country up for an abusive situation.
Does Taibbi really believe that the US government retains some sort of collective moral purity that is absent on Wall Street? Go on YouTube and watch videos of American civil and military authorities busting down doors and shooting family mutts while in search of dollar bags of marijuana. Read about additional taxes for Americans and how the IRS is going to be equipped with shotguns, apparently to help with collections. Read about how Homeland Security is targeting American military veterans as potential terrorists, and those who participate in Tea Party protests, too. Try to understand the ramifications and results of America’s serial wars in the Mideast – the radiation poisoning from depleted-uranium weapons and the endless civilian killings. We understand that Goldman is a “great vampire squid” but what has the US government become? Taibbi defines civilization as “a collective decision by all of us not to screw each other over even when we can.” What mirror is he looking in?’
Time for a new shtick?
wow,
protests in London,telling nick Clegg not to sell out too David Cameron.
S.
@sam – link? or eyewitness account please . . .
@Sam
Sell what exactly – Circus tickets ?
@ sam
curious what is happening!
Max Oppenheimer LOL http://81.169.162.159/kettererkunst/kunst/picm/368/101000837.jpg
Liberals have nothing to sell but Hope.
They have been constructed and fabricated with the sole purpose of not achieving anything of substance.
I listened to their finance spokesman last year – he was being interviewed by Galloway.
He talked a good talk – his analysis was not bad – but when it came to solutions he was as bad as the rest of them.
They are designed to fail and now that Britain has 3 liberal party’s failure is guaranteed
@ adam c
I agree with you, and it’s getting a bit repetitive just hearing that Goldman Sachs are the problem: even if they were liquidated tomorrow (excuse pun) the rot would not be stopped, and it is facile to pretend it will.
The North Dakota solution looks like one worth spending much more air-time looking into.
May 6th, 2010 Market Crash Special (Scroll down for More) http://forum.prisonplanet.com/index.php?topic=169995.0
Its th power struggle within the Liberal Democratic Party.
Labour split under Thatcher Tories. The Social Democratic Party was formed consisting of the intellectual elite of the socialist movment in UK,they subsequently merged with the Liberals froming the Liberal Democratic Party. Theres been a constant power struggle between the liberals and the socialists within the party ever since. Basically the socialists have been winning the struggle.
as I suspected, the UK election was another fraud, like the recent US ones…
http://www.globalresearch.ca/index.php?context=va&aid=18948
who benefits: the wealthy
Where is Stacy Herbert? Was On The Edge and The Keiser Report too similar in the program setup to run a “Stacy Headline Report” in both? I miss that part, though it is a bit like candy, it is also nice with longer interviews to have time to talk and answer – both tastes good.
Possibly UK only
http://news.bbc.co.uk/1/hi/uk/8670002.stm
But bbc in general is covering
@ FiatMentalist
“But bbc in general is covering”
covering for whom?
Yess! Ellen Brown – STATE BANKS!!!!
Ever notice how you never hear about North Dakota having budget woes?
http://www.prisonplanet.com/the-only-state-with-a-growing-economy-during-the-last-year-has-its-own-public-bank-any-questions.html
The other States also should start their State Banks and kick out the FED.
But unfortunately a lot of these politicians are bought and paid for or scrutinized in some other way so they don’t serve the people.
Interest rates on treasuries are low because the market put it there, not because somebody decided in their infinite wisdom that this was the correct economic decision. Its a legacy of a prolonged inverted yield curve prior to the onset of the crisis and represents the demand for short term money.
Bernanke merely follows what the market does. Bernanke didn’t lower interest rates in the Eurozone or in Canada, for instance, yet all of the western democracies are facing the same declines. Bond markets all work the same, and no matter how many treasuries you throw at the bond market, the prices go higher and yields go lower because of an increase in liquidity. North Dakota would have similar problems were it not out of complete isolation. Short term yields are now much lower than the policy rate, which will require EVEN LOWER interest rates.
The key to understanding the crash on Thursday is the Garbage In/Garbage Out theory, where computers do not provide the correct solutions if the input is wrong.
http://improbable.com/2010/05/05/garbage-in-garbaged-out-presaged/
The vast majority believe that higher interest rates were coming, so the obvious conclusion is that nobody was prepared for a sudden decline in interest rates.
(stockcharts.com may require membership to view)
http://stockcharts.com/h-sc/ui?s=$IRX&p=W&b=5&g=0&id=p66874059515&a=191210523&listNum=2
You want to complain about naked short selling? GET IN LINE.
“The key word here is mercantilism. More than almost any other firm, Goldman sits at the intersection between government and private industry in America.”
Does the Daily Bell have any other citation other than Taibbi for this outrageous claim? Here’s what’s happening with TARP (which could be termed the Keynesian credit line for the IMF functionaries):
The Treasury said it gave Morgan Stanley (MS.N), its sales agent, authority to sell up to 1.5 billion common shares, a first batch of the 7.7 billion shares the government holds.
http://www.reuters.com/article/idUSN2618120520100426
@TJ
The BBC are raising the fear level of a hung parliament. The more fear the more chance of getting a conservative majority in the next election which will probably be in the next year. So i recon the BBC will generaly continue to raise the fear level over how ungovernable this current hung situation is.
Before and during the election the BBC was pro labour. But ultimatley the BBC controlers are control freaks.
@ Frances SSSS
These are the guys I’d be worrying about.
http://seekingalpha.com/article/203662-shawn-mcninch-active-etfs-are-the-next-big-growth-area?source=email
Built on Opium profits, fattened by Nazi returns on plunder and Bush controlled all the way. Talk about dark pools!
http://www.bbh.com/index.shtml
wouldn’t a gold standard fix all this mess? all those trillions of manipulation money wouldn’t have been created in the first place right?
@ FiatMentalist
“BBC controlers are control freaks” lol
I haven’t owned a TV for years but that BBC bias is glued somewhere deep in my memory hole. TV Licensing surprise visited me four times because they couldn’t believe anyone could live without their propaganda. I don’t get as pissed off now that I only get the Nooz by proxy
Ever hear about this, Youri?
http://www.businessweek.com/news/2010-01-22/north-dakota-raises-oil-forecast-on-advances-by-shale-explorers.html
@TJ:
So there are pools of liquidity that aren’t dark? Oh, I forgot. Transparent pools are best: and they sure do have the line-up of wordy preachers getting us ready for that step. Only problem is that these preachers got snake-oil slathered all down their back hides.
‘sgot to be repeated:
Ron Paul: Bernie Sanders selling out to the Fed on “Audit The Fed” Bill Vid http://www.youtube.com/watch?v=7II2diHymv4
Sorry, Youri. North Dakota is the most corrupt state for politics (at least in 2008):
http://www.usatoday.com/news/nation/2008-12-10-corruptstates_N.htm?loc=interstitialskip
@frances snoot
Nop, but that’s part of the story.
Alaska is full of oil but like said many times before that one of the biggest oil source stay hidden deliberately by the elite.
I think they want to keep that for themselves after WOIII and wiped out 80% of us.
Deek Jackson meets Gordon Brown.
http://www.youtube.com/watch?v=adcNphsrmog&playnext_from=TL&videos=pcIo4VULd3U&feature=sub
Deek has some mighty cujones!
UK budget deficit ‘to surpass Greece’s as worst in EU’ http://www.guardian.co.uk/business/2010/may/05/uk-budget-deficit-worse-than-greece
Cartoon Greek Crises Domino Effect: http://www.studionoord.net/image.php?id=1036&format=Source
I would like a “Stacy’s Economic Adventures” show where she interviews the subjects of the news items around the globe..With guest host Max Keiser to explain Wall Street links
Sharp Political Cartoons http://www.studionoord.net/johan-van-zanten-cartoons/531/Cartoon_Viewpoint%3A_60_years_development_aid…_
Theres just been a mainstream BBC news broadcast. There was NOTHING about the angry exchange between Brown and Clegg. Seems the BBC controllers arnt shutting the door on the hope that the socialists in both camps will still get it on.
http://www.youtube.com/watch?v=BKPoHgKcqag
Because it’s so cute:
Greece: The dog that hasn’t missed a single riot for years See: http://www.thisblogrules.com/2010/03/dog-that-hasnt-missed-a-single-riot-for-years.html/
And: http://www.guardian.co.uk/world/gallery/2010/may/06/greece-protest?picture=362290874
Americans lost their sense Humanity: Columbia Mo SWAT Raid 2/11/2010. Cops Shoot Pets With Children Present http://www.youtube.com/watch?v=RbwSwvUaRqc
she’s such a muffin <3
“Pretend and Extend”
“If You Can’t Make It Fake It”
“Don’t Ask, Don’t Tell”
“Kick The Can Down the Road”
Fed Chief Tells Graduates: Don’t Worry, Be Happy http://www.nytimes.com/aponline/2010/05/08/us/politics/AP-US-Bernanke-Happiness.html?_r=1&ref=aponline
SEC: Moody’s made “false and misleading” statements in register application in 2008 http://www.marketwatch.com/story/moodys-discloses-wells-notice-from-sec-2010-05-08
Four U.S. bank failures bring 2010 tally to 68 http://www.marketwatch.com/story/four-us-bank-failures-bring-2010-tally-to-68-2010-05-07
nice commencement address.
.. Economic growth is not an end in itself, but policy makers pursue it because richer countries are better able to provide health, jobs and a clean environment for their people, Federal Reserve Chairman Ben Bernanke said …
did he just explain the feedback loop to these newly “scholared” …er conditioned members of the “society”.
Central Bankers operate from a perspective the american people are more easily manipulated into doing what policy makers want if we as policy makers have a monolopy on creating money which the policy makers can then fund artificial economic growth by spending our way into providing people healthcare, jobs and a clean environment.
and when necessary …the people of this rich country will be asked or manipulated into contributing to the greater good of the planet … by providing the military mite necessary to assimilate cultures that reject our understanding of what is and what is meant to be.
The rights of the group shale never be under mind by the rights of the individual. We are the collective. There are axiomatically no individual rights which can not be sacrificed for the greater good.
Welcome to the real.
What is liquidity? I thought it was the ability to convert an asset into cash. Karl Denninger says liquidity is debt? What we need is less “know-it-alls”, and more “explain-it-alls”. Using industry buzz words may make the speaker sound superior to himself, but if the outsiders don’t know what he’s talking about, he’s only connecting with people who already know what’s going on. See Tom O’ Brien’s YouTube for “What Happened on Wall Street, May 6, 2010″. http://www.youtube.com/watch?v=fU7rJnjJpH8
Just got back from the UK, most people look at the political set up with indifference, as in the US it matters not who sits in number 10, their lives will not change for the better. The activists are there to milk the system while the PTB carry on the distribution of wealth to themselves
Let’s call this what it really is – The United Stats of Las Vegas
VST = the tire that never wears out
North Dakota should secede
Best explanation I’ve heard of High Frequency Trading. Funny how none of its proponents care to explain it so comprehensibly to the public.
Wonder how pending financial regulation will affect ND’s unique banking system.
“Here’s what’s known after this week’s key plays in the Senate:
•A Republican bid to weaken a new consumer-protection bureau, to be created by the bill, failed.
•Republicans won bipartisan support to nix a proposed $50 billion fund that, they said, would perpetuate Wall Street’s view that large firms will be bailed out in a future crisis.
•In a nearly unanimous vote, senators backed an amendment by Sen. Barbara Boxer (D) of California declaring that no taxpayer funds will be used to aid failing financial institutions.
•Senators balked at one move that would have rattled Wall Street, an amendment proposed by Sherrod Brown (D) of Ohio and Ted Kaufman (D) of Delaware that would have capped the size of banks. The idea behind the measure was that banks shouldn’t be allowed to grow “too big to fail.”
•Many senators are hoping to remove a provision that entered the bill as a last-minute surprise – a ban on bank trading in derivatives. These complex investments played an important role in the financial crisis. While finance experts generally say some tough restrictions on derivatives are warranted, many worry that an outright ban will simply shift risks from banks to other parts of the financial system.
•A provision to audit the Federal Reserve’s books gained steam, although the Senate hasn’t voted on it yet. Representative Paul, known as a watch dog of the Fed, complained that the Senate provision would no longer apply to monetary policy as well as to emergency lending activities. Senator Sanders defended his change in the provision, designed to reassure some lawmakers that the Fed will retain its independence from Congress in setting monetary policy.”
http://www.csmonitor.com/USA/Politics/2010/0507/Financial-reform-bill-takes-shape-as-decision-looms-on-Fed-audit
Re: Brown, Clegg
“Meanwhile, #dontdoitnick (i.e. don’t surrender on proportional representation) is rising on Twitter and an unruly crowd has assembled in London to demand electoral reform.”
http://andrewsullivan.theatlantic.com/the_daily_dish/2010/05/brown-rants-at-clegg-on-the-phone.html
@Adam C
This is the classic argument “we are all the same”, or “if you were in my position you’d do the same thing”. What those who voice this argument don’t know, or forget, is that WE ALL, in our lifetimes, have opportunities to do serious damage to other people just to make a little bit of money (like Frances McDormand would say in Fargo). The fact is that the huge majority of people are ethical and don’t go on destroying other people’s lives. Otherwise traders, corrupt politicians, and banksters would all be dead. And yes, cutting in line at the super market is not the same as robbing hospitals or grabbing an old lady’s pension.
Ellen
Brown!! Fabulous woman! Beautiful, bright and good hearted. I am so glad that you are in this world. THANK YOU FOR BEING!
Video of today’s march on Whitehall and lib dem HQ. Estimated 5000 people but all dispersed within 90 mins….
http://www.takebackparliament.com/page/s/takeitback?source=tw0506
Mark raises the question: Wouldn’t a gold standard fix all this mess?
Mark, you are obviously an ethical person and have no place in a discussion of fiat, debt-based money managed by fractional-reserve scamsters funding Wall Street financial concerns with phony monopoly money manufactured ex nihilo. Please confine your comments to complicated, abstruse suggestions on how to twiddle the dials of this moribund monetary system so our politicians can continue to look like deep thinkers and our bankers can continue to find ever more complicated ways to screw over the American public.
Thanks, and have a good day.
Cash Cow – High-Frequency Trading
Samantha Bee wants to tell her small investor friends about high-frequency trading before regulators outlaw it.
“So douchey traders are being replaced by douchey computers?”
http://www.ritholtz.com/blog/2009/10/cash-cow-high-frequency-trading/
@Dennis Spain, 93-98% of the money supply is credit created ex nihilo by commercial banks. A gold standard would only provide backing for the remaining 2-7%, unless accompanied by comprehensive banking reform.
I love the intro music…it’s happy!
Is Stacy no longer a part of On The Edge? and yes, On The Edge has quite possibly the BEST intro song, Ever.
Keep it up Max!
http://www.youtube.com/watch?v=A_L9adtXdkE&feature=channel
Marc Faber on the “fat finger” thingie
Max, did you see that the NYSE are to install a market computer on an industrial park in a suburb to the east of, London,England? (This) will come on line in September of this year. Do you have any observations to make?
@Dennis Spain, To be more exact, commercial banks create credit money out of infinitesimal amounts of reserve money, in the stage of re-lending following what people normally think of as fractional reserve banking. If Bernanke gets his wish, though, commercial banks will create money ex nihilo.
http://www.businessinsider.com/now-bernanke-wants-to-eliminate-reserve-requirements-completely-2010-3
The day the machines took over Wall Street
David Pett, Financial Post with files from Bloomberg
Published: Friday, May 07, 2010
http://www.financialpost.com/news-sectors/story.html?id=3000745
i dont agree with short selling !!!!!
so how do you get a fair market then , what about price discovery ;(