Stacy Summary: We look at the scandals of real time fraud as quoted on the ticker tape; the more ‘perfect quarters’ and even more ‘missing records’ as the US government hands out tens of billions to TARP banks. In the second half of the show, Max interviews Jim Rogers about the euro, naked short selling, and gold. **UPDATE**: Merkel introduces ban on naked short selling from midnight tonight **UPDATE 2** – There are $250 billion in naked CDS outstanding; they have 4 hours to unwind . . .
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What did the Fed actually do when they “doubled their balance sheet” which two years ago was about $850 billion? Now, it’s over $2 trillion. After taking in toxic assets at “notional value” and exchanging actual dollars for near worthless paper, it means the Fed essentially gave about $1 trillion to the financial manipulators whose parasitic greed had backfired after years of success.
If Rogers didn’t see the Euro coming….
how could he not?
Anyone notice how Max was ‘walking on eggs’ while talking to Jim Rodgers? I don’t always agree with Mr. Rogers but I’m with him 100% here. Seems like two different lenses are used re: Naked Short Selling (hereafter NSS).
1). Optimists (JR) can say that NSS is just capitalizing on a long-delayed ‘float’, eg: “Lets sell the thing and hope we cover before anyone cares”.
2) Pessimists (MK) can say that NSS is blatant fraud. I’ll buy that in theory, but when are you going to get choir boys out of every profession, especially bankers and lawyers and brokers?
To illustrate:
Since I’m not a Plumber, I’ll pick on them. Anyone who watches PBS’s This old house, or Ask TOH regularly sees Master Plumber Richard Twethewy sell home owners gadgets they never really need. I don’t care when they do this in a millionaire’s house since the guy is just getting pleasure from throwing his money around, but I get mad when they pull this stuff with a young family with 3 young kids and the guy is just hanging on to his job. Ditto for electrician Alan Gallant.
Summation: Is it legal to sell someone something they dont really need but dont know any better? ANS: YES
Is it moral and honorable? ANS: NO, but then the tradesman will default on his BOAT payment.
Plumbers and Electricians can be also honorable, but then they’ll also be poor because they’ll rarely do any big jobs where all the markup is.
So, Most Plumbers and Electricians I know are WELL-OFF, same with STOCK BROKERS.
Now, in what profession did Max used to be employed ?
I’m Not really picking on Max, but I just think some things are a matter of DEGREE as to what constitutes FRAUD…. (point taken Max: 13 x GDP of your country is a little excessive on the ‘loan’ side).
After they steal all our pension funds, sooner or later there’s going to be huge demand for big baskets under big guiloitines and thats when Hedge Funds, Bankers, and Brokers (probably in that priority also) will start running squeeky – clean operations without a whiff of questionable dealings.
thanks max stacey for this website and all you do.
thanks everyone for all your posts.
its good to know like minded people are out there.
New silverfuturist video was great
and like jim but hes here to make money
he left america because he sees its to much work to fix the problom
the peopled are delusioned by power and greed to understand
they are empire
and jim wont stand for any cause that will bring his family harm
because the idea that the system that got you rich is guilty of the evil they do
is beyond the grasp of some mortal men.
as in ben hur
a man knows the world he lives in
and know that world is rome
or goldman sachs of america
massive selloff in gold
i beleive which quit schooll at 16
people pulling out gains in gold to cover shorts
because massive market collapse
soon
some people think this is good for dollar
but leaves me to beleive
this will end badly for all stocks
also oil going down is leading me to beleive
just like oct 08
this is an indicator of a freefall coming!
obama in washington today
doing nothing as usaual dont expect any help from his heiness
thoughts?
oh yes and the gulf worsens dont eat fish to oily lol
to much omega crude
“Third, the current system is inequitable, because it forces a transfer of resources from developing countries to the industrial nations that provide reserve currencies. This transfer has dramatically increased over the past two decades. Developing countries’ main defense against world financial instability has been to accumulate international reserves.”
New denominator called ‘social equality’ will make us all equally poor under a system where the trade currency (profit) is divorced from the currency of the people from whom the industry and materials are siphoned. The system will reward those with position (propriety) in regards to the sdr-indexed assets: a term to substitute currency in paper/debt instruments for human capital (slavery).
Love Jim Rogers. Love Max Keiser. Must have him back on, even if he doesn’t agree with you on everything. Very cool. He offered to come back on anytime!
Rand Paul wins primary by 24% margin!
José Antonio Ocampo, a professor at Columbia University, is a former United Nations Under-Secretary-General for Economic and Social Affairs, and former Finance Minister of Colombia.
http://www.project-syndicate.org/contributor/943
Here’s the fate of our ‘global money’:
“Still another solution would be a return to gold — the “barbarous relic” in Keynes’ terminology. But this would be swimming against the tide of history, as the monetary history of the world since the 19th century has been a movement away from gold and toward placing fiduciary currencies at the centre of modern monetary systems. Thus, although some voices have been heard calling for the return to a form of gold standard, this would be a non-starter, warns Ocampo.”
(José Antonio Ocampo, former UN Under-Secretary-General for Economic and Social Affairs)
Ocampo is not being quite honest. Number 2 and 3 are actually joined at the hip: the new exchange system will of necessity proclude the use of a ‘global currency’ and will need a global international clearing house to automatically adjust exchange between regions. The exchange won’t function in regards to a global currency: there won’t be a circulating form of global money. The exchange will adjust inflation differentials allowing for maximized profit for sdr functionaries.
That is what is meant by having a global reserve asset not tied to any one country’s domestic currency.
“these did indeed provide more liquidity on the way up . . . on the way down it provides an equal and opposite illiquidity”
The problem at hand is threefold:
1.A broken securitization market in the US. An ongoing liquidity crisis developing in European markets.
2.A timeline (2011/2012) for banks marking illiquid assets to market without deference to economic conditions. A restructure of the definition of liquid assets according to the arbitrary decision of the BIS (FSB/Basel Committee).
3.The end of open-market operations supporting bank liquidity in the US and in Europe timed for this summer.
Destroying is not reforming: but then the new reserve system will not operate in the guise of the old–dollar/reserve system– concerning liquidity access. The sdr system is a Keynesian model.
Here’s what is up with Basel regulations in China:
http://www.reuters.com/article/idUSSHA35421220090303
Liquidity on the way up was encouraged by Basel directives to prefer cmbs/covered bonds. Liquidity on the way down is punished by Basel concerning cmbs/covered bonds.
Guess we have Basel to thank for the chaos?
Isn’t the sdr the unit of account/index for BIS interests? Would BIS interests see profit from the destruction of the dollar-paper markets?
Well, it will be interesting to see what the reform is concerning the sdr reserve assets.
Exchange rate at present is the key for sdr valuation. What will be the key in future?
“According to Ocampo, there are essentially three alternatives to reform the current system. The first — and in a sense inertial solution — is to let it evolve into a multi-currency arrangement. The second is to gradually move into a system based on a truly global reserve asset.
Since the SDRs have already been created, and have received increased attention by the G-20 during the current crisis, the obvious solution is to strengthen this mechanism of international cooperation.
The third is to create a new institution, either Keynes’ International Clearing Union or a Global Reserve Bank that would issue a global currency (“Bancor” in Keynes’ proposal) and serve as bank of the world’s central banks. However, negotiating the creation of a new global institution would be a daunting task, says Ocampo.”
http://www.australia.to/2010/index.php?option=com_content&view=article&id=662:global-economy-reform-dollar-based-reserve-system&catid=96:idn-bureau&Itemid=160
If we beg they’ll surely allow us a new reserve asset: and the point now is getting us ready to beg.
Are you indicating that covered bonds are not correlate to EU market liquidity, Stacy?
There are as many perspectives regarding the credit crisis as there are operational definitions.
Your perspective is valid, but I would indicate that mine is also.
Fraud emanates from many spheres, not the least being the Basel Committee.
Denying that debt is essential to the operation of bank liquidity in our international financial system is naive.
The problematic is not the debt but the fraud, correct?
Will book you’re currently writing or future Keiser Report discuss predations of the “Wolffpack?” What do they do? How do they do it? Who are they?
@snoot – covered bonds have been used in Germany for a couple hundred years; the only difference between them and mortgage backed securities is that they are kept on the balance sheet of the bank; the argument for keeping them off the balance sheet is that the miracles of financial engineering has allowed a magical disappearance of risk in the off-balance sheet mortgage backed securities that provides more liquidity; these did indeed provide more liquidity on the way up . . . on the way down it provides an equal and opposite illiquidity; the credit crunch started NOT via any new government regulation (which are always circumvented within hours of being announced anyway) or with on balance sheet bonds, but with the moment in June 2007 when uncovered, off balance sheet mortgage backed bonds held by Bear Stearns, were forced onto the market by the very financial engineers that argued these style bonds provided more liquidity into the market; the ‘liquidity’ they talked about was always just misallocation of capital; markets ALWAYS look liquid in the beginning of a bubble and that liquidity always evaporates with the removal of the last ponzi from the operation
@Stacy:
The liquidity crisis is directly related to the covered bond market in Europe:
http://www.coveredbondinvestor.com/print/435
@Youri – Thanks for the links…especially the Celente one.
@Stacy and Max – no take on the GATA/CPM debate?
@Frans @Sherri – thanks!
@snoot – I think it is both a solvency & liquidity crisis; but in terms of what came first the chicken or the egg, it is the solvency crisis that caused the liquidity crisis; it’s the Minsky Moment that always happens in a debt or ponzi bubble
@Youri – thanks, as always, for the great links
@davem @udee – comic book sounds fun!
@Max
Re: South Africa and the world cup
This John Pilger article may be helpful which Iread the other day.
http://www.johnpilger.com/page.asp?partid=572
“A new stadium near Nelspruit will host four World Cup matches over 10 days. Jimmy Mohlala, speaker of the local municipality, was gunned down in his home in January last year after whistle-blowing “irregularities” in the tenders. An entire school, which was in the way, has been removed into prefabricated, sweltering steel boxes on a desolate site with a road running through it. “When the World Cup is over,” said the writer Ashwin Desai, “it will become obvious that these stadiums are going to be empty shells, that our money has been used for what is really a pyramid scheme”.
First Coca Cola entered the Indian market now Hollywood Goes Bollywood http://www.bloomberg.com/apps/news?pid=20601109&sid=a_7dY7DjHWHw
the streets of bkk are quiet as reds give in to spare lives…..and live to fight another day.
Goldman Sachs wants your 401ks http://www.bloomberg.com/apps/news?pid=20601087&sid=aleNSNidU4Ms
(As expected) GOP Blocks Three Key Anti-Wall Street Amendments http://www.huffingtonpost.com/2010/05/18/gop-blocks-two-key-anti-w_n_580747.html
Sen. Richard Shelby of Alabama, the top-ranking Republican on the Banking Committee, rose to object to a vote on one of the most talked-about amendments, cosponsored by Sens. Carl Levin (D-Mich.) and Jeff Merkley (D-Ore.). Levin-Merkley would ban commercial banks from trading for their own benefit with taxpayer-backed money.
Shelby also objected to an amendment from Sen. Kay Hagan (D-N.C.) that would rein in predatory practices of payday lenders and one from Sen. Byron Dorgan (D-N.D.) that would have banned naked credit default swaps, which were at the heart of the financial crisis. Dorgan’s amendment was expected to fail, but Levin-Merkley had been surging in recent days.
I’ll be on this program today; 17:10 Paris time:
Hello Max
We’re a current affairs radio station based in Cape Town, South Africa, and would like to conduct an interview with you tomorrow morning (19-05) on the state of European economy, especially in light of Spain also implementing austerity measures.
We’re taking the angle of how these countries (Greece and Spain) came to be in this position, and whether their having hosted major world events had anything to do with it.
As South Africa is hosting the Soccer World next month, your thoughts would provide further insight into what sort of economic situation we will be in after the event.
Kind Regards
Gadija Davids
@Max…..gold being the cocktail waitress?
@maxkeiser
ahah, The Cooler (2003) http://www.imdb.com/title/tt0318374/
@ME: Last monday we scored the last 50 grams pieces they then had at EuroGold.
Cramer is like the William Macy character in “The Cooler”
Go Germany Go! Fight back against fraud. I love the banks’ whining about this – means it must be hurting them.
Hedge funds shift failed bank investing strategies http://www.marketwatch.com/story/hedge-funds-shift-failed-bank-investing-strategies-2010-05-18
Hedge funds now buy up healthy banks to slurp up unhealthy banks from that position
Roubini Says U.S. May Face Bond ‘Vigilantes’ Within Three Years http://www.bloomberg.com/apps/news?pid=20601087&sid=afbvMk6.5LeY
Conspiracy of Banks Rigging States Came With Crash http://www.bloomberg.com/apps/news?pid=20601109&sid=axH24KWxjVDE
Yikes!! weed deflation…run for the hills
http://www.nbcbayarea.com/news/local-beat/Pot-Growers-Troubled-by-Falling-Prices-jw-93964829.html
Swaps Soar on Germany’s ‘Act of Desperation’: Credit Markets http://www.bloomberg.com/apps/news?pid=20601087&sid=aOURzKpYAWGQ&pos=2
The German Government Has Had Enough Karl Denninger http://market-ticker.org/archives/2331-The-German-Government-Has-Had-Enough.html
Gerald Celente on The Gary Null Show – 05/14/10 http://www.youtube.com/watch?v=i8J_gnOmxx8
Market chaos warning after German ban on shorting http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7738144/Market-chaos-warning-after-German-ban-on-shorting.html
@Sherri Young
I wanted to say it before but silverfuturist says it before me now about this Jim Cramer get on the bandwagon clip:
Jim Cramer Says Buy Gold – May 17th 2010 http://www.youtube.com/watch?v=2WJf0UxTVng
silverfuturist: “He is a contrarian index” http://www.youtube.com/watch?v=cor07CJAVFY
@hamster cheese
And don’t forget that fractional reserve banking is based on 2% inflation at least and in reality it’s bin more like 2.5% -3% in the past years. Now it’s even more crazy.
That means that if you put your money in the bank and get under 3% you still lose money. And than I am not even talking about the devaluation of the dollar which has been going on for quiet some time now.
That’s why people fell for crazy Ponzi schemes promising high rate cause people felt that they had to to overcome the inflation and not losing money.
That’s also the battle that Max describes of Savers (the Real economy) against speculators (the Ponzi economy).
Fires ablaze in Bonkai; at least 10 shops on fire; looting of other shops; banks being stormed
Army shooting anything that might be alive.
20 armed UDD guards were arrested near the Sarasin intersection /BkkPost
Hmmm. I’m guessing that this ban on naked short selling is not retro-active. So while no NEW naked short sales can take place, the ones in the market now are OK, and can close whenever.
If in fact traders do need to close those positions in less than 24 hrs., then shouldn’t this cause a short squeeze? And a large increase in CDS’s values? But not sure how this really works.
Counterfieting….why in the HELL isn’t fractional reserve lending considered counterfieting???I deposit $ 1,000 in a bank…the bank creates $ 10,000 out of thin air when someone borrows $ 10,000…the bank sells that note on the open market for around $ 10,000…That is counterfeiting, no consideration by the banks in this transaction!!!! FRACTIONAL RESERVE BANKING AND LENDING IS COUNTERFEITING, PERIOD!
So do you still want to invest in Canada and Canadian banks?!
FAQ on Canada’s bank tax alternative
http://www.cbc.ca/money/story/2010/05/18/f-embedded-contingent-capital.html
@top, jim rodgers probably only owns one euro. And he’s long with that. Probably for a sovienger.
New silverfuturist video:
Max Keiser on the WWII Dividend (Bretton Woods)
http://www.youtube.com/watch?v=cor07CJAVFY&playnext_from=TL&videos=e68J8lnECOE
JIM ROGERS COMODITY INDEX
dec 2005 -> 3300
dec 2009 -> 3275
—————————————————-
And now he is long on EURO?
Is he biker or investor?
Why do they need to cover their short positions?
Just make it happen
Down, down, down.
@StacyHerbert Quote:
“@Lee – you sound like you are a news producer in the US where the guest pool is very small and drawn from a select group of people who support the position of the owner of the network”
Dont get your comment Stacy…Yes In fact I live in the US and I stoped watching main stream media because its all the same…I was complimenting Max..not putting him down…Sounds like you are defending Mr Rogers…I hear people like him on Fox News in the US all the time…
I use to be in spot currency trade…far from producing…in fact we didnt produce anything…which is why I agree with Max and not your guest..sorry stacy…
@ Ray
Are the affected CDS written in USD or Euros or both? The target bonds would be in Euros, but naked CDS referencing those bonds might not. I would assume that the naked short sellers in the equities and options would need to cover to avoid having a failure to deliver. That would need to be euros. Should be able to raise euros fairly easily and do well by selling gold. Wonder if the precious metal selling is concentrated in the paper or the physical. Then again, could it be that the PM paper asset prices are deteriorating?
I’ve been telling friends and family to get their pensions the hell outta stocks, but they just say “it goes up and it goes down”.
Aaaaarrrggghhh !!!
This aint goin up any time soon.
(Cue recovery – Hahhahaha)
They were not listening, they did not know how. Perhaps they’ll listen now!
Don Maclean
http://www.youtube.com/watch?v=nwE3VdZ_AHQ
@sherry
Or it could be the German banks covering,(four hours notice may have shaken them up) Gold would be at the top of the list as far as quick liquidity goes.
No transparency in any markets, no security, no ethics, banking is based on trust that trust is broken.
Could it be that the drop in precious metals reflects the deflation of the debt-based financial asset inventory denominated in debt-based currencies?
(That is a question looking for an answer or opinion, not a statement.)
Dutch Ex- Right Wing Politician Frits Bolkestein pleads for legalisation of All Drugs Cutting Police Costs (google trans from Dutch) http://tinyurl.com/2v8ppb2
businessinsider is verboten
A pretty sentence will not overcome a sinister intent.
@MiniUS
Yeah, saw it on Bloomberg http://www.bloomberg.com/news/regions/australianewzealand.html
Steve Keen is right.
@Max
Ya gotta take Mr. Rogers tie shopping.. the bow tie is getting kinda creepy.
Anyway, way off topic, I finally listened to your interview with Mr. Alex Jones. You need to continue discussing the concept of people obtaining an Icelandic passport. Brillant idea!
@frances snoot
Jim Cramer is a clown. Can’t even imagine that people are watching this seriously other than to have a good laugh.
I think in general the U.S. media in general is glad to pint the finger at Europe and everybody is glad to jump the bandwagon.
Meredith Whitney said that the European banks are hiding toxics ahah! It’s the pot calling the kettle black. In fact Europe followed the U.S. in this crises, they are very unresourceful so just copy the American banking tricks in a bad way.
I knew a year ago that they would lose at the poker table they are the chump.
But after things calm down somewhat and Europenas has it’s QE at full swing the focus will get back at the dollar and the American markets. We all go down as planned to bring in the World Banking system and World Government.
when is the herbert news report going to start? i’m serious. i need a good news report on youtube to watch every day that has credibility. i think theres a huge demand for this that is not being met except by alex jones but his credibility is suspect and he’s ugly, stacy is hot. you’d make tons of money from the youtube adsense partner program. at least several thousand dollars a month i bet.
Bad news, youri:
http://www.businessinsider.com/jim-cramer-announces-his-place-on-the-gold-bandwagon-says-european-leaders-fear-lehman-ii-2010-5
Unbelievable!
Aussie newspapers go from boom times to doom and gloom overnight.
Even Jim Rogers has an article written about him.
http://www.smh.com.au/business/reserve-earns-praise-but-not-our-politicians-20100518-vc69.html
This is why I started searching for answers on the net and found Max and Stacy.
We are mushrooms here.
Kept in the dark and fed on shit.
@Youri Carma: Yea, I understand that and I agree. I wasn’t asking because I planned on daytrading tomorrow. I just wanted to know what others thought the market riggers might pull tomorrow to ”send a message” you know?
@RAH
Frankly I am not much into this day by day market. I look at the fundamentals and long term. And that ain’t a pretty picture.
Nobody profits from these volatile markets and since it’s rigged nobody profits from these markets at all except for the insiders and frontrunners like Goldman Sachs. These bogus trades suck dry the real economy.
So what exactly does this mean for U.S. markets tomorrow? Do you guys think we’ll see a huge dip tomorrow as the bankers manipulate something bad to make it look as if the banning of short-selling causes market crashes?. . . Yes, I’m a newb.
@Giuseppe Bagodonutti
Yeah, they really try to bug it down to buy time.
But you can see it’s rigged cause after every slammer it comes back up shortly after.
I think that this gold manipulation will work against them in the end cause a lot of people see it as a good buying opportunity and if they do it every week Hell, you can even day trade on it and make a fast buck.
I don’t buy that Jim Rogers didn’t see this coming. It’s fiat and he knows this. He can’t be that dumb. But Jim is in the system, making money from within it so I’m not surprised that he’s blaming the victim. And the naked CDO thing. If it’s potentially fraudulent why allow it in the first place? All it encourages is for players to get better at fraud. So Jim is a little of a disappointment.
Cool, Casper. But that cat avantar of yours looks like he’s run through all nine of his lives and needs a transfusion.
CO2 Emission traders’ most-profitable credits more harmful than carbon dioxide http://www.bloomberg.com/apps/news?pid=20601102&sid=avRMtmFXd_08
WOW
With the opening of the Hong Kong markets, GOLD took a $10 SHIT…
I wonder if it’ll recover before the London Markets ???
This volatility is harsh…
SEC Proposes Circuit Breakers for 10% Stock Swings http://www.bloomberg.com/apps/news?pid=20601103&sid=aJGlVhKENPe4
@Frances.. You know I agree with you. The plan was designed over a hundred years ago by the Round Table gang. No changes have been necessary in that time. However, the old cat is an existentialist. I love Max and Stacy precisely because they choose to rant.. express their rage at the evil of the plan. I well appreciate the hopelessness of the situation. I am a Sociologist.. but also a Psychologist. I have sound reasons for ranting. I choose not to rot in my own bile like so many do. Therefore.. my crude urban hillbilly act. Psychological Kung Fu.
But do I believe my own bullshit? Of course not, madam. As an educated person you no doubt understand the essential cynicism of the professions. Many years ago I stumbled off the treadmill.. escaped the rat race. When one is an old beatnik musician, one gets to wear a funny hat and talk hep talk. Dig it.
Thanks for the interest. Sometimes I feel sort of invisible. :}
Germany to Ban Naked Short-Selling at Midnight http://www.bloomberg.com/apps/news?pid=20601010&sid=ao6BsFTFFiKc
@ Hannibal
So pleased to see you here! You have truly done some strong work. Thanks so much.
Financial Reforms ‘Cosmetic,’ Won’t Stop More Crises: Roubini http://www.cnbc.com/id/37219897
Just watched this commentary…
Looks like Dorgen sees the writing on the walls…while Dodd has nothing to lose and shilling till the bitter end…
http://www.youtube.com/watch?v=4MrLGp5tAmg&playnext_from=TL&videos=RQGtc0a0Rrk&feature=sub
Rand Paul Ron’s Paul son just won the GOP senate Primary in Kentucky. Rand had everybody but the voters against him.
Just found a clip of ronron and Bonn, making plans ! : )
http://www.youtube.com/watch?v=RdFnLGKIDsE&feature=related
Max had the jugular exposed on naked Jim. He didn’t go for the kill, which demonstrates the calculated restraint of the patient predator. More game is afoot . . .
This may be the tipping point! The German lady has ba!!s.
From Denninger http://market-ticker.denninger.net/
* No more naked credit crap, especially against sovereigns but not only against sovereigns. No insurable interest, no CDS – period.
* Naked shorting will now be actually stopped in 10 leading financial institutions.
* Germany has had it with naked shorting of Gold, and specifically noted bank manipulation of gold prices via naked shorts beyond intent or ability to deliver.
* Germany has also said that they’re not going to permit Euro derivatives that are not a “bonafide” FX hedge. That is, no more naked bets on Euro movements either.
* Hedge funds are going to be regulated, position size limits mandated and enforced, reporting enhanced and a transaction tax is coming.
@Nama Rama, yeah I was there too, reasonably good turn out considering the weather. Really need to get the pensioners mobilised, and I found a lot of the rethoric a bit too Scargilish to appeal to the general public, early days.
It’s people like Jim Rogers that would put ye off capitalism, never trust anyone with a dickie, Max ye had ‘im bang to rights.
As for that cunt Weaselthal, good on ye Max for denouncing the little prick.
I guess Mr.Jim Rogers thinks that the naked short selling should be allowed to “competent people” to take money from the “incompetent people”.
worlds driest in chile desert gets snow.
a quarter of uninterrupted gains with several banks – you’d really think they’d be more careful covering their tracks. but this would have required less greed on part of the bankers. yeah right. in the end their own greed will be their final demise.
In Bkk…Selling tires is illegal. Taking over the airport not so much.
@Sherri:
P/G.
I miss his posts…
Tate Modern in London forced to close by anti-BP activists
http://liberalconspiracy.org/2010/05/18/activists-force-tate-modern-to-close-gallery-over-bp-sponsorship/
Heard back from Phil/Germany. He checks in and reads intermittently. Has been out of country recently. Sends his regards.
ronron
http://www.youtube.com/watch?v=g54GX8XECdc
@ John Robb
Listened to the entire interview. It was excellent. Thanks for posting.
First post from a longtime reader
From Zerohedge:
http://www.zerohedge.com/article/matterhorn-asset-management-die-has-been-cast
Apple: No Cash Policy? http://www.cnbc.com/id/15840232?video=1497521313&play=1
@Jon Robb
Wow this is a long interview – but thee best interview of the nuts and bolts of Wall street that I have heard.
I will keep this on file and replay again.
@Pez, yep, you got it. The elite banksters put in thier people into countrys to set up the sleezy slave deals with the big elite banksters.
The big media never tells that part of the story.
Bam ! Bam ! Angela is right on this one. La comedia es finata. Bon début.
@ Dan
The ban covers the shares of some German financial institutions but not of US banks.
Leave to global capitalists like Rogers only telling half the story. Yes make some poor Greek pensioner pay back the debts the BANKS CREATED. Some how there not enough laborers in Greece (or for that matter the Milky way) that can re-pay that insane amount of debt there or PIIS. Bank of England will collapse this summer. Fed at end of 2010.
Is Boss Hog finally loosing his grip?
http://fofoa.blogspot.com/search?updated-min=2010-01-01T00%3A00%3A00-08%3A00&updated-max=2011-01-01T00%3A00%3A00-08%3A00&max-results=21
http://www.youtube.com/watch?v=qFsSM1CD4xA
This naked short sell ban is bullshit, they determine that its illegal but then it only applies to government bonds and large financial institutions…
So you cant short sell JP Morgan but JP Morgan can shortsell the entire silver market,,,
Today: a particularly happy holiday for a particular EU non-member…
http://www.syttendemai.com/
@Marc. nice english.
@jon. serpintine.
ron ron, the elite banksters took out all of the polish politicans when they didn’t want to get a loan from the IMF. The elites will do anything to screw anybody to make a buck and have control.
Germans are discussing the CDO ban on tv. It’s quite a move isn’t it?
@Mike
Jim Rogers is naked and short. I would have a solution for naked shorting. If we ever catch you doing it, we send you in Siberia in january for a month stark naked. I’m sure you could rent a couple of abandoned goulag camps for Jim Rogers and his nudist buddies from the gangster hedge fund confrérie.
@Namarama. surpentine. http://www.youtube.com/watch?v=YN1WxSITwWw
As the big slide of the euro And EU picks up mometum to its crash and then the worlds financial crash. Finally.
Only problem then is we’ll all be implanted with chips to be able to buy things. Sheet.
silver must be good stuff. hahaha.
andrew mcwire is sure the car accident was an attempt on his life. the man was arrested but has not been named to this day. over silver?
@ george, just
No doubt there is probably some such similar legislation in the US. I of course am playing with the inherent definition of “debt”, introducing the concept of “time”, and implying with its introduction that any payment for service already provided is payment of debt.
Law typically starts out being simple enough. Legislators typically end up complicating all of it. 
@ Mike/Liverpool
Ye take a look what Germany is doing to the counterfeiters they really don’t like inflation. History repeats in a fractal world lol
Also Gold crashed again,,, $1 .. what a performance out doing The French President for its drama queen performance,,,
I’m just back home from a protest, Outside government buildings.
Jobs, Banks etc..
1500+ people,
It’s a start!
Rise up…
@marietta
I never take this guy CRAMER seriously but to listen to him squeak when he says he likes gold.. he nearly chocked on the word bullion but had no prob with GLD lol lol that was funny .. I agree
Hey Mike ! Gold got “killed” today. Down 1$
A real tragedy.
@ Mike/Liverpool
There’s a TOB trying to happen starting in Germany.
Hi Guys
Been away for a few hours, i miss anything?
Mike
@Palantiri
No problem with the 250 billion naked shorts. You got the slaves taxpayers always there to eat the vomit.
You must see the modern state as a terrorist bankster vomit conveyor.
It’s a return to Dark Ages. A return to Nazi bankster serfdom. These politicians desserve capital punishment, not just the terrorists banksters.
ah jim by the way is naked short selling financial terrorism? fucking classic. dear in the fucking headlights.
@John Robb. jimmie was dear in the headlights. hahaha.
@ john
in australia it is legislated that the seller has the right to refuse payment of more than a certain amount depending on what denomination is being offered ie a seller may refuse to accept more than $20 worth of coins of a denomination equal to or lower than 50c. i suspect that something similar would be found in some law or other. after all, there are laws prohibiting everything in america
…except raping taxpayers
When the super rich investors start to feel the pinch like Rogers, watch out ……things will get even nastier for the guy on the street.
now that the greed owns gold. hahaha. look way up rusty and i will call snoot.
@ronron
&marietta
Cue this interview to 1:26:40…
http://gnosticmedia.podomatic.com/enclosure/2010-05-16T21_37_14-07_00.mp3
Smooth? Max? Oh yes, yes, of course. Creamy too!
beatles
‘something’
HD audio
http://www.youtube.com/watch?v=a_XG_YlTPPQ
@Perkest
Interesting… “all debts”
The private bus line fare scenario is fascinating if you consider a bus that has you pay the fare upon exit [or say, a taxi]. Could a bus or taxi then forbid payment in pennies?
@Palintari,
Yes, I know the world is larger than North America. IBS will be the system for the World Currency to which the soverign nations will have SDR’s. I understand that. What it will eventually morph into is another question.
@Martin Blake
either way there would’ve been a lotta pain for the Greek people what with their profligate govt/civil service on 1 side and Franco-German bankers on the other rubbing their greasy hands with glee. And why do people keep electing the same regime rotation dickheads into power? Just like ireland. One set of incompetent buffoons gets replaced by the other set cos Joe Bloggs reckons ‘ah sure…they cant do any worse.”
@MySelf
http://www.ustreas.gov/education/faq/currency/legal-tender.shtml
Q: I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn’t this illegal?
A: The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled “Legal tender,” which states: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.”
This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
@ marietta
Thank you for that post. It served as a reminder to close my Chase MasterCard account. I called in for my balance yesterday and sent the advance payment.The payment hasn’t yet cleared. Hope I remember to check again tomorrow. I’ve been meaning to do this anyway. The big banks are fee mongers and are developing data bases of spending behavior.
Yesterday a caller on C-SPAN’s Washington Journal called in to say that credit card and debit card merchant fees are a terrible burden at the gas station he owns. I’d rather squeeze the banks and credit card companies than the merchants who sell products and services I wish to buy.
Carry cash and retain some privacy.
I believe naked short selling is defined as a market flooded with undelivered shares (being sold), while the media spouts unsubstantiated, negative rumours, i.e outright lies.
There’s a difference between short-selling where the party being short-sold is probably overvalued and in need of an adjustment vice naked short selling where healthy, profitable companies are brought down through short selling on undelivered shares, i.e. multiple sells on the same share, and rumours.
My point is that there may be a disconnect between what Jim & Max consider naked short selling. I know who Jim Rogers is and he doesn’t seem to be the naked short seller type; a short seller for sure, not one in the buff though.
Max – Is this the case? Did you get to talk to Jim further on this?
Apple are turning into more of a scumbag company by the day on the defensive trying to monopolise didnt realise they had a big push to change the format of youtube in order to lock people into their video format on the net. this sort of behaviour is near criminal and shouldnt be supported.
That was horrible watching them people all cheering in that apple shop its like hell on earth or somthing how perfetic humans can behave.
@marietta
That may break legal tender law.
haha, max outed jimmy boy as a naked short seller.
max is smooth.
@John Robb
I didn’t get to listen to your post – being in Europe the land of Nod was beckoning.
Half way through and it is a excellent breakdown of this aspect of the debt vortex
Karl Denninger
agreed
Germany is an oasis of fiscal sanity in an ocean of deluded EU countries living BEYOND ‘The American Dream’.
Apple refuses to sell IPad for cash. Debit and credit cards only. WTF!
http://www.cnbc.com/id/15840232?video=1497521313&play=1
Jim Rogers offered nothing in this interview. He actually seemed like kind of an idiot. Just my opinion though. Max Keiser was trying to get get him to side with the greeks but jim is such a jacksass he cant even have any empathy for them even though the greek people did nothing to deserve what is happening to them.
Zerohedge needs to invest in more bandwidth. It’s frozen up again
Spanish auction comes close to failure
http://blogs.ft.com/money-supply/2010/05/18/spanish-auction-comes-close-to-failure/
This is funny … Cramer trying to remain calm in face of ban on naked shorts. Says rumor is that there is another Lehman out there.
http://www.cnbc.com/id/15840232?video=1497525011&play=1
Who owns $250 billion worth/un-worth of naked CDS?
How tragic would it be if it were banks that were holding them, losing it, and get a rescue package from the government so they don’t go bankrupt.
@zaphodity
…with a supercomputer placed on the exchange engaging a high frequency algorhythm set to “unwind”, leading the pack
How the hell do you “unwind” a quarter of a trillion dollars in 4 hours ?
Conjecture on my part.
Drive the Euro down until it is on par with the U.S. dollar, then establish a new currency called the Euro – U.S. Dollar. Lock the U.S. currency and the Euro together and put some small backing of gold or silver in. So the Europe and America keep the “world currency”.
Have to start the world wide currency somewhere.
Just hallucinating.
I posted this yesterday as crosstalk to The Dork of Cork under DeGraw’s entry. I’m posting it again here as it gives Patrick Byrne’s gruelingly detailed take on naked short selling as counterfeit. It’s a big file, long interview. Sorry, no qiuck-cueing pointers today, but it is for the most part, interesting in it’s entirety…
http://gnosticmedia.podomatic.com/enclosure/2010-05-16T21_37_14-07_00.mp3
Jim Rogers seems like a knowledgeable fellow, tie’s a nice touch.
So will silver increase by 100x in the next 4hours?
Oh how I wish Denninger would learn to express himself in other than locker room terms. Easy to agree with the message, difficult to stomach the verbiage.
http://www.market-ticker.org/archives/2331-The-German-Government-Has-Had-Enough.html
Thanks Palantiri. Investment/Speculation, the difference is ultimately quite mutable. One could say that Rogers was speculating on the speculators. As an investor, he blew off Max’s suggestion a bit quickly, of raising margin rates. As a speculator, had he foreseen the current drop in the Euro, he [in a heartbeat] would have dumped it before its fall. Perhaps he would have bought them back up again today as a means to re-invest his capital, stash his assets, or rest his liquidity.
… I just thought as a “step one investor” he might have had a longer comment on Max’s rate raise. 
Ah! The Germans! Ordnung muss sein!!
Max, great job questioning Jim Rogers. Very well thought out questions that demonstrated his position. He obviously doesn’t believe GS can control the market.
Stacy, good job keeping Max’s ranting to a minimum. Granted he’s attempting to make up for the 300M Americans who should be ranting.
@Stacey
I saw a job offering in 2008 with salary specified in SDR. I don’t think that means what some may think. It means they don’t know which country the claimant comes from..
Gold fever now has struck europe. There is a run in Holland
….A perfectly preserved Rosie O’Donnell under the polar ice caps ! !
@udee “but time for MK-SH school of no-bullshit economics textbook; explaining “real-time fraud”, “rigged market capitalism”, the “perfect quarter”, etc.”
As a comic book! And I’ll draw it!
Great show guys.
Norwegian climate scientists uncover amazing find in Antarctica !
http://imgur.com/ZCooh.jpg
Excellent program -one of the best! Updates too!
MK is writing a novel based on these events is good, but time for MK-SH school of no-bullshit economics textbook; explaining “real-time fraud”, “rigged market capitalism”, the “perfect quarter”, etc.
Surely the “perfect quarter” is only a reward to Blankfien et al for doing “God’s work”
Jim Rodgers on “naked-short selling” – perhaps he is not considering the “rigged market” aspect of the “naked-short selling” activity -in which case – its purely criminal
Merkel apparently paid attention to the analogy of counter-fitting and “naked-short selling” (Merkel must have been paying attention to MK; How much longer will Merkel be Chancellor -?)
Venezuela and California – utopias going broke – how can this be; or are they just playing along as directed in thethe Ordo Ab Chao game?
What’s the bounty on the Icelandic bankster-at-large?
Put this bounty hunter on his trail (and video record the apprehension for big profit and great entertainment)
http://www.dogthebountyhunter.com/
Hang on to your shorts!
Boxers, that is…
life imitates art?
i don’t think the head doozer was using a teleprompter
@Stacy:
El-Erian says it was a liquidity and a solvency problem (you say solvency I say liquidity):
http://www.xe.com/news/2010-04-12%2012:20:00.0/1071513.htm?c=2&t=106
Yes We Can
Our Commander and Chief really did know what he was talking about
http://www.youtube.com/watch?v=262kfAoZmog
WOW!! I Can’t even leave the house for an hour or two or there are major developmnents: exciting times!!
Max and Stacy: you are the best!!
And by the way what a privileged time we are living in!
The best soap there is, has been and even will be!
(and glad I am 80% in physical PM)
@John Robb – Jim Rogers has been long the Euro for some time now as far as I know, the reason for this is as he says, there are record high numbers of short positions on the Euro which means that they at some time need to unwind their position and then the Euro will rise – Jim do not follow trends he is a step one investor.
It would be interesting to hear the raw audio of the interview.
Rogers is just like the rest of the “investment class” – he doesn’t produce anything, he doesn’t improve the world in any way, he’s a leech and a sociopath – just like the Goldman Sachs garbage. I’d laugh pretty hard if he lost his ill-gotten fortune at the hands of the same scumbags he’s attempting to cover for. People trying to cover for bankers by saying “Well, they just took advantage of an opportunity” are SOCIOPATHS. Most of us can tell right from wrong – but not these “people” (and I use the term loosely)
“The speculators came along later.”
Well, how long has Rogers owned Euros?. Man, Rogers doesn’t budge. Was he actually speculating that Greece would go under? No, he simply advocates it. I’d have liked to get his reaction to your asking him specifically, “Would you be better off right now had the centrals increased the margin rate?”
@naomi – the world consists of more than Northern America, parts of main Europe and England. There will not be a one world currency unless the major parts of the world also agrees upon it. And if they somehow does, it still will only be a replacement of the SDR on a inter-national level, on a national level nations will still have their own currency.
Woohoo! Thanks, Stacy for the updates. This is beginning to look like the true nuclear option. What could be better (and scarier) than watching the CDS market go up in a mushroom cloud.
@dork:
One must stop thinking in the terms of currency and more in the terms of liquidity.
I’m surprised that Max didn’t float the idea that this destruction of the EURO is by design in order to have a One World Currency in the near future. SDR’s for a while then the new world currency. Seems clear as glass to me. But, I’m a conspiracy theorist. (smile)
@Dork – apparently international luggage compensation liability rules as per Montreal Convention are set at 1000 special drawing rights: http://www.sbpost.ie/news/ireland/good-news-for-airlines-on-compensation-claims-49122.html
I’m not afraid of the Euro. That currency is much ‘stronger’ than most people think. Not every currency will crash in the short term. Only the Pound Sterling is a big problem today. Why create something, and than let it crash? Pound and Dollar have problems. Not the Euro. The Euro is a solution for more control over Europe.
Pound -> crash in 3 years
Euro -> stable
Swiss franc -> money will flow to Swiss.
Dollar -> crash in 8 years
I think.
J.P. Morgan talks about unlimited demand of gold? Most of the time we must do the opposite, that they are saying. I think that we will see the top of gold and bottom of the Euro soon. (at beginning of June?)
They create the Euro and EU for some purpose. Somewhere last year or in 2008 they change the Treaty of Maastricht. I thought it was article 111, but i’m not sure about it. That article stands for that the Ministers of the EU could correct the banksters, and now they repealed it. Why? To print more money of course. It was claer, when they change the Treaty, that this was comming.
If they are printing money and buy bonds, i don’t see a real danger for inflation soon. Only deflation.
I found it really weird when they repealed it. It was the only article that separate the ECB from the FED about policy. Now the banksters have more influence in the ECB. Nobody can correct them, and meetings at the BIS are still a secret.
The Euro is more a political problem than something else. Government in EU is a bigger problem than the Euro.
Or inflation is not the problem, but deflation. What we now see is biflation. I believe that we will see more deflation next years, especially in Europe. After that we will see hyperinflation in America. But hyperinflation is not the problem yet. Somewhere in 2013 it will be a problem. Deflation is the problem next years.
There is to less money around to pay debt. The real problem is to much debt. Money is backed by debt. Money does not exist, only a promises. The only way we will see hyperinflation is when the whole World collapse. Before inflation we must first collapse otherwisse we see deflation. The collapse of 2008 was not enough.
The system will probable crash over years. Not now. Probable over 7 years or something, by the next crisis in 2017. By the commodities, bond and inflation bubble.
Maybe it is interesting to do some research about article 111 and biflation. I’m not sure about it, because I don’t found much on the internet. But they change the Treaty for some purpose.
Henry Ford once said “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning”.
Be prepared for a revolution. That is the next thing we will see.
I’m not (yet) afraid of;
- crash Euro
- EU disintegrate
- system collapse
- hyperinflation
- War III
Only the three last things will happen, but not now.
I’m ready to short the markets again. Somewhere between August and October will be real bad.
Greetz
Geert from Holland.
@Snoot
I was listening to Irish state radio a few mornings ago and caught the tail end of a conversation where they were talking about airline compensation for passengers grounded due to the ash cloud.
SDRs came up and this representative stated that the amount compensated would be in fixed in SDRs and expressed in the local currency.
Snoot I fear you are right on the money with this one.
Spreken ze Deutsch
http://www.youtube.com/watch?v=WPlbsF1fo2E
@Dork:
Would you consider that the yuan-peg or the peg of the Kuwaiti dinar to a ‘currency basket’ indicate a truly floating system?
http://www.forbes.com/feeds/afx/2007/05/20/afx3739653.html
The reason I linked the article was to indicate that the choice has already been made for us.
1.cross-border capital controls
2.sdr-indexed reserve assets
3.rates regulated by an international suprasovereign entity in deference to manipulated inflation differentials accorded between regional trade blocs
One could say that the currency gyres produced an uptake of nutrient rich water for us fishes. But now the fish are going to go hungry. The gyres are damned: the sdr system will operate independent of domestic bank liquidity.
The domestic liquidity will operate IN SUPPORT of the sdr system.
We have been had. For lunch.
@ R. Cain
Great reminder that we still don’t know whose footprint is on Bear Stearns’ back.
@ Snoot
The surplus extracted by “efficient market” proponents in this floating system is now so obscene and ridiculous that it is forcing the proles doing everyday work that keep the necessities of a civilisation going to spend half their day speculating on the markets so that they can preserve their wealth.
can you remember the episode of Fraggle Rock when the dorzers stopped working – the fear and helplessness of their fraggle masters was both pathetic and funny.
‘Business Insider’ – aka Henry Blodget – trashes Matt Taibbi over reporting on naked short selling
“BusinessInsider says Taibbi has the Goldman-naked short selling story wrong, claiming his view is “based on a misunderstanding of the mechanics and effects of naked shorting.”
“The practice can, according to BusinessInsider, benefit the broader market giving buyers more efficient pricing on securities.”
http://www.huffingtonpost.com/2009/09/30/irolling-stoneis-matt-tai_n_304085.html
Hahahahaha.
http://www.gold-speculator.com/ed-steer/28716-gold-new-reserve-currency-larry-kudlow-cnbc.html
“Despite the importance attached to avoiding unnecessary exchange rate instability, this essay is, however, not intended as a plea for a fixed rate system, which, of course, would not afford protection against undesirable real exchange rate movements either. It is the author’s view that in the present world environment of pronounced economic and political uncertainties a return to a genuine fixed parity system is out of the question. The sole aim of this paper is therefore to explore to what extent the floating should be “pure” and to what extent there is a case of official intervention and/or for subordinating domestic policies to external constraints.”
Written through the BIS in 1982, and yet still we hear nonsence like ‘gold is the new reserve currency’ or ‘the yuan will be the next reserve currency’.
Domestic contraints: you ain’t seen nothing like it!
“Ladybug ladybug fly away home,
Your house in on fire and your children are gone,
All except one and that’s little Ann,
For she crept under the frying pan.”
The thing that makes me laugh,..(and I do, while shaking my head),..
Is,..these shenanigans have been going on for time immemorial,..but kept hidden, until the time is right for the “public” to know,…(P.R.S) !
Everyones reactions on the net (if anyone is bothered to look),.is quite similar.
As Snoot has inferred,.everything is going to plan,..
Too Big to Fail’ Not Too Big to Jail
@ Dawn
‘naked’ short selling
Matt Taibbi
http://trueslant.com/matttaibbi/2009/10/05/caught-on-tape-a-naked-swindle/
http://www.youtube.com/watch?v=OqZUbe9KIMs
http://www.rollingstone.com/politics/news/;kw=3351,11470?RS_show_page=0
Really, the discussion in the press is superfluous, Master Dork. The handwriting has been on the wall:
“Despite the importance attached to avoiding unnecessary exchange rate instability, this essay is, however, not intended as a plea for a fixed rate system, which, of course, would not afford protection against undesirable real exchange rate movements either. It is the author’s view that in the present world environment of pronounced economic and political uncertainties a return to a genuine fixed parity system is out of the question. The sole aim of this paper is therefore to explore to what extent the floating should be “pure” and to what extent there is a case of official intervention and/or for subordinating domestic policies to external constraints.
In fact, to anticipate somewhat the conclusions of this essay, the issue of floating versus fixed exchange rats would seem to have been very much overplayed. A genuine fixed rate system would undoubtedly be feasible in a stable and predictable political and economic environment, in which a pure floating rate system would function very satisfactorily too. Conversely, in a world such as the present one, in which wide inflation differentials and all manner of uncertainties and instabilities preclude a genuine fixed rate system, pure floating is also bound to produce unacceptable results. Thus, the authorities today find themselves in a kind of “no man’s land” that may at times combine the disadvantages of both systems, where it is not possible to rely mechanically on a few simple rules but where survival requires the constant exercise of judgement and discretion, although this necessarily entails the risk of error. Of course, all this may not be very palatable to theoretical purists, but the situation here is no different from any other sphere of social relations. While the yearning for simple “black and white” answers to all the complex questions that arise in modern society helps to explain the appeal of ideologies, the simplistic answers and mono-causal explanations offered by these ideologies are usually spurious ones and divert attention from the real problems. There are no simple, ready-made solutions, and truth has to be conquered anew every day. Genuinely fixed parities and pure floating are undoubtedly both very useful as analytical concepts and tools, but neither of the two systems, if applied exclusively, can provide satisfactory solutions to all the problems of international economic relations that arise in the complex and troubled world in which we live today.”
http://www.bis.org/publ/econ5.htm
On to conquering truth then~everyday!
Max on Athens Radio 17th May
http://www.youtube.com/watch?v=QHu8Ul6Cm-w&playnext_from=TL&videos=2Si32a2GTWw&feature=sub
http://en.rian.ru/russia/20100518/159065478.html
new 5kg bullion
Thanks for bringing Jim Rogers on your show.
There are very few willing to speak as clearly as he does. How many would be willing to say “it surprised me, I didn’t expect it, don’t know what I will do” etc. regarding the Euro?
Hats off, Jim, I respect your candor.
It was a good episode and an informative interview. Good headlines too
What is all this negativity on Jim Rogers account in the comment section?
He is not saying anything different than what he has said before and I’m sure many of you liked him before so…what’s the problem?
We know Jim is loyal to himself and always talks about his own money over and over but he do have a logic view of the various situations going around the world.
He sees things for what it is, not for what he wants them to be.
Some people on this forum are naive to believe Rogers was a Saint in the first place. He’s an investor so he will use tools available to him, such as naked short selling and speculating on currencies. However, he does have a lot of wisdom and knows what’s wrong with bail outs.
@Snoot
Ha Ha Once they have gained total control over their subjects they may need to restore some balance but it is always necessary to keep the serfs on their toes.
To many Roseanne Barrs on one side of the see saw will not keep the mechanism in motion.
@Lee – you sound like you are a news producer in the US where the guest pool is very small and drawn from a select group of people who support the position of the owner of the network
Mr Weisenthal was likely responding to his boss Henry Blodget’s request for a piece on defending bank bailouts.
“One guy who might have some insight into all this is Henry Blodget, the Eddie Haskell-lookalike who was banned for life by the SEC for committing fraud while at Merrill Lynch…and who then reinvented himself in the only profession with lower ethical standards than investment banking: business journalism. Blodget–a prominently featured cross-poster on The Huffington Post– now runs a popular business website called Business Insider (Bloomberg TV recently called Blodget “The king of the blogosphere!”) You gotta figure, if you’d been hired to handle Goldman’s PR campaign and you wanted to “poke holes in the Securities and Exchange Commission’s case,” you might want to talk to a guy like Blodget.
“As soon as he heard about the Goldman Sachs lawsuit, Blodget got struck with a case of “crusading journalism” fever–what Mumia was for progressives and hippies, Goldman Sachs is for Henry Blodget. From the moment the SEC announced their fraud suit against Goldman Sachs, Blodget went into hysterical graphomania overdrive, poking holes in the SEC’s case just like Goldman’s PR campaign hoped to do.”
http://exiledonline.com/did-goldman-sachs-manipulate-journalists-and-stock-price-on-same-day-as-senate-testimony/
@Dork:
Do you believe a federalized europe will operate under the same system of imbalances that created the need for a federalized europe, Dorko?
thank you Max and Stacy for explaining things so that us “commoners” can understand. could Max translate what Canada’s alternative idea to a global bank tax is all about.. Dare I ask what “imbedded capital” means? Is it as bad as “imbedded journalism”? ha ha
A bit OT, but thought it may be worth looking at how well “health care reform” is working out in the real world.
Texas Doctors Opting Out of Medicare at Alarming Rate
http://www.chron.com/disp/story.mpl/metropolitan/7009807.html
I want to further up my earlier post about Mr. Rogers Show (his new name to me because you would have to be a silly child to agree with him and his lies)
It not that you should always bring people on the show who agrees with you, which btw you dont…but this guy is the same venture capalist predators we see in main stream media…let the wolves stay out there for all to see…not try discredit you on your show and confuse your audiance…
@Snoot
If they are successful with their so called fiscal debt brakes won’t even more savings be directed towards banks to create another speculative bubble ?
@MaEarth:
http://articles.baltimoresun.com/2010-05-17/business/bs-bz-tax-sale-huffington-post-20100517_1_tax-sale-liens-debts
Sickening isn’t it?
They spent most of last year wheeling Jim Rodgers out getting him to say shit like “I hope the IMF sells its gold so i can buy some” Rumours to depress the Gold market and also to infer that the IMF has Gold.
So naked shorting is capitalism ? Go to hell Mister Rogers. It completely fucks up capital markets. It just means one thing. Jim Rogers uses regularly himself naked shorts. Anyways all these guys are hypocrits.
Does CFA stand for certified f*cking *sshole?
http://www.businessinsider.com/germany-debt-brake-europe-2010-5
Per your discussion w Jim Rogers:
Naked shorts—correct me if I’m wrong here. I’m just trying to figure this out.
When you sell short there is no virtual difference between a covered short or a naked short. You are on the hook either way. If you’re wrong, the medium of exchange either comes out of your account (covered) or you have to go buy it at a loss (naked) to cover the bet. Either way you lose and suffer the consequences.
So the question becomes how they covered their losses and were there illegal ways that they covered (even though they state they never had ANY losses! A whole other story). The mechanics of covering the nakeds is the question, not the naked shorts themselves, which is a legal trade.
Help me out here and thanks
i still like his bow ties
Max Jim Roger is a world wide venture capitalist…with no loyalites to anyone but HIMSELF! Not even the truth bad bad selection ever of guests on your show…
Came across this – a fifteen page story about the MMR vaccination controversy: http://darryl-cunningham.blogspot.com/2010/05/facts-in-case-of-dr-andrew-wakefield.html
LOL! When you think about it, it is like Soros and Rogers are really on the same team playing the good cop / bad cop routine on us.
@Danny I have listened to every Jim Rogers interview for the last 2 years, and the one thing that never sat well with me was that even when pressed, he like Buffett has never spoken ill of Goldman Sachs. I find that fact alone to speak volumes in and of itself.
Joe Weaselpunk.. ha ha.. I todja that smirkin’ jerk was a bum. Nobody listens to an old man.
Sorry pot is out
A Freudian keyboard slip
@Danny
I remember attacking Rodgers over in Zero hedge Land a few months ago and my post was junked so many times that it entered cyberspace heaven.
There is still true believers pot there believing this crap – they seem to have no idea that it is a human construct like any other and not a natural phenomena.
@Dedo Yes, I agree! Free markets would be great! Any idea where I can find one?
Has Jim ‘Made of Sunshine’ Rogers blown his good ‘ol boy image or were we too naive to believe he was made of sunshine in the first place?
@snoot
http://www.youtube.com/watch?v=M89c3hWx3RQ
Theyre swearing in the house of Lords just now,the old guard swearing alligence to the Queen and her heirs. You should watch it and record yourself, post it as a reaction video.
Remember there is an old saying so goes California so goes America.
@Casper:
Rogers advised people to move to Asia two years ago. He just followed the money.
You’re a cat. Jump up on a hot tin roof for a good look.
Things are progressing according to plan.
Who’s to say Rogers isn’t a part of the whole warp and weave?
Don’t like the plan? Then topple the Bretton Woods institutions as run out of Europe.
Rogers is simply wrong about CDS.
The CDS can be made illegal with the stoke of a pen.
Of course that would require the government of the USA to realize sovereignty over its own affairs.
Rogers: Jesus, what an asshole! Twice he says Greece, selling what they don’t have: bad! BUT thieving skunks selling what they don’t have (naked short selling): good! And this crap about “the market”.. ooh.. the holy market.. Fuck off and die you nasty old thief. There is no market. It had it’s throat cut by thieving skunks. A brainless crook. Fundy-mentalist goofball. Yapping the market and yapping Jesus.. where’s the difference? Incantations of almighty hoohaw is the stupid person’s version of thinking.
Someone want to argue this bum must be smart because he’s rich? No, he’s rich because he’s an immoral, opportunist scumbag who uses his freemason connections to game the “holy market” for his own advancement over the rest of us. A gangster. Also traitor.. he fled America to Singapore.. an asian police state.. the absolute antithesis of a Constitutional Republic.. presumably because the corrupt politicians there will let the SOB do whatever he likes (as long as he pays up).
One man’s strength is another man’s weakness, Dork. There are many facets to reality.
Come on Max…CNBC brings on Meredith Whitney EVERY time the insiders want to create a bear raid or opportunity to cover shorts on financials stocks. Take it as a signal.
Jim Rogers, naked short selling has nothing to do with capitalism. It has everything to do with market manipulation. The last piece of programming code that could be “switched on” for the black-pool HFT boys required abolition of the up-tick rule. Now let me tell you a rhyme: “markets go up by the escalator and down by the elevator”. JR, gurus like you lose credibility when you put forward such ridiculous comments about capitalism. The world has forgotten what markets are for.
@ people who think gold is getting killed and is being manipulated by the financial terrorists….buy buy buy buy.
These vultures can’t keep it down with their phony paper and back room deals. There lunacy is your gain. Get in now.
What Jim Rogers did not say about many people responsible for Greece using Euro is two words to define that act : COLLUSION and FRAUD. Max has always said fraud , but you must add collusion for the parties that KNOWINGLY PARTICIPATED in this act.
For your eyes lol Mike / Liverpool Osborne is Cooking away honestly lol
They don’t count house prices when its
INFLATIONARY => ON THE UP
But
DEFLATIONARY => ON THE DOWN
LMAO
lol
http://www.citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=400432&re=9443&ea=215649
@Snoot
Civilisations decay from the inside out – the bureaucrats and money men run the place or run it into the ground – if they do the latter they will find that they or their offspring will sooner or latter find their head on a spike.
Those Mongol hordes did not just wonder into the Roman and pursian world because they felt like a bit of rape and pillage – they sacked Baghdad and elsewhere because the scented weakness.
My argument against naked short selling is this;
what’s the offsetting ‘long?’
for short selling in a margin account – borrowing stock and selling it (for purchase later) – using leverage – is offset by buying stock in a margin account (for sale later) – using leverage.
but a naked short sale?
An offsetting ‘naked buy’ trade would be – buy an imaginary bag of apples – and if the price of apples goes up – sell your imaginary bag of apples for a profit.
to offset the – selling short stock naked that does not exist – and buying it back later if the price drops – for a profit.
@gr8mikey,..I’m a free market advocate,…so take from that, what you will!
The rest is just a tug of war,….you know this : )
Folk who want controls, always get what they ask for,…look around you, and stop moaning
Most insane story, people being forclosed upon because their tax liens debts has been sold to investors. These investors sell the house and the poepl are kicked out. For debts of less than 1000 USD? http://www.youtube.com/watch?v=59cOz05Ovdk
@Snoots
I suppose nuclear weapons and the internal combustion engine make riding around around the Euro -Asian landmass on a horse a bit of a anachronism but you never know what the future holds.
http://www.youtube.com/watch?v=U3zAbQ0aMK8
@dork:
Well, if we are going to trust criminals to adjunct criminals, then at least we don’t have to go all Mary Poppins about it.
@dork:
One might hope that the glory of men is now a passing phase in the evolution of the universe.
@Dedo So you believe that fewer and fewer people having more and more of the total wealth is beneficial to society? Please explain this to me, I’m kind of dense on this I guess. You seem to be seeing wealth creation / preservation where I am seeing wealth extraction instead.
“i hope he stays in Singapore; the USA is better off without him”
The US will be a grazing ground for bison.
One wonders if the move to ‘leave room for nature’ might not actually produce the leverage needed to unseat those who claim altruism and do inhumane criminal acts. I’m talking about the G20 banking governance representing criminal families: the Bretton Woods institutions placed over men through auspicious tyranny. The act 3 in the play termed “colonial hegemony”. Act four is about to commence.
And one wonders if nature will strengthen in her resolve to rub out those parasitical freeloaders who dump radioactive waste off Somolia, who plan to starve half the world’s population and unleash bioweapons, who play with children’s innocence as though it were a game of marbles.
We have been told to fear God.
God whom is put over us by the same criminals who suck the life out of men’s spirits for a lampwick.
Perhaps nature will strengthen her resolve to end these familial lines.
The death of God would do the world of good.
by design or by chance, Keiser Report exposes Jim Rogers for what he is
i agree, portions of that interview should be widely circulated
In between the introduction of my two news goats to my farm, I found this show quite illuminating. Your catching fire again, Stacy & Max, way to go.
@Snoot
you say that the authorities are bankers and you are right.
But who else will discipline these deviants.
If these inside bankers fail then others will exploit the weakness of these states and institutions.
the others are warriors and there are also disadvantages to their form of governance
en.wikipedia.org/wiki/Timur
re: naked short selling
Mr Rogers invokes the ditty ‘sell not ‘isn must go to prison’
that could be prophetic
maybe that’s why he moved to Singapore
also, Mr Rogers asserting that ‘markets’ (translated: GS, JPM etc) can manufacture more money – and by implication rule the world – than any government is quite telling
i used to be a Jim Rogers fan
not anymore
i hope he stays in Singapore; the USA is better off without him
The problems in the Greek repo market were easily forecast and had been fomenting for weeks prior to the systemic contagion.
The contagion can be diagnosed as a liquidity squeeze:
http://in.reuters.com/article/marketsNewsUS/idINLDE6360FM20100412
“Despite euro zone ministers agreeing the terms of emergency
aid to Greece, the country’s repo market remained frozen after
credit lines to domestic banks were withdrawn earlier this year.
There has also been an unwillingness to enter into repo
agreements — where funds are lent against collateral with an
arrangement to reverse the transaction in the future — using
Greek government bonds as the security.
“Unless something happens on the credit, the fundamental
front, the safety-net provided by the EU/IMF amounts to little
more than a short-term relief of the liquidity crisis,” said
Lena Komileva, head of G7 market economics at Tullett Prebon. “
Who really believes Jim Rogers was caught broadside in regards to the Euro?
gr8mikey,……..Pardon me,..but I beg to differ,…
I would suggest, that most folk with any sense, who had the same opportunity would do exactly the same!
The path of least resistance my friend,….: )
And I would hasten a guess, that Jim has some tidy investments that benefit the economy,…it’s all about diversification,..you know this ,..right?
@Dedo What economic benefit is there in buying assets simply to flip to someone else at a higher price? I see no economic benefit in this, only that the little people ultimately pay for this through higher prices. Now if they were taking capital and investing in factories and products that will actually benefit society that would be good! What I am seeing is a bunch of assets and paper being flipped around in a zero sum game of the little guy always loses.
@Max. You were too easy on Jim Rogers. The ole boy, for an expert, does not seem to have a grasp on the root cause of financial warfare. He endorses naked short selling for gods sake. That is enough for me to write him off as a fiat investor and a financial terrorist sympathizer. Off with his head!
To counter fiat,.is a sort of double entendre, I would suggest,…..: )
Ah, crimes against the Queen’s purse receive the death penalty. Capital idea, Max. Remember these days?
http://lcjb.cjsonline.gov.uk/Cambridgeshire/1534.html
I meant,…..”theives”,…: )
left my teef on the mantle piece
Which authority is Max referring to in his comment about the authorities ‘rubbing out’ the bankers? I do believe the banking authorities composed of bankers, right?
Should we call this the Corleone Finance Report?
YEP…A counterfeit is an imitation………….
A counterfeit is an imitation, usually one that is made with the intent of fraudulently passing it off as genuine. Counterfeit products are often produced with the intent to take advantage of the established worth of the imitated product. The word counterfeit frequently describes both the forgeries of currency and documents, as well as the imitations of clothing, software, pharmaceuticals, watches, electronics and company logos and brands. In the case of goods, it results in patent infringement or trademark infringement.
The counterfeiting of money is usually attacked aggressively by governments. The counterfeiting of goods is countenanced by some governments.
counterfeit
To falsify, deceive, or defraud. A copy or imitation of something that is intended to be taken as authentic and genuine in order to deceive another.
1) adj. describing a document, particularly money, which is forged or created to look real, and intended to pass for real. 2) v. to criminally forge or print a false copy of money, bonds, or other valuable documents, intending to profit from the falsity. 3) n. shorthand for phoney money passed for real.
My Tubes are Slow today having difficulty watchin and hearin ; But I do remember Jim Rogers Last year talkin about “GET OUT OF THE DOLLAR AND GET INTO EURO!!!” but he also said diversyfy in Yuan too;
lololololool
He musta lost a Bundle in Euro ; Dunno how he missed the connection bitween Inner city of London and USA ???
I mean I am no Financial Guru Even I did’nt know upto the Time the Acronym PIIGS emerged tat Euro was also in trouble
But going back when Gold was at 600 Euro’s he shoulda seen it commin
Guess he did’nt factor in USA’s MIC & Afghanistans Opium maybe ???
Hic
Glorified Gamblers / Speculators !,…hmmm
To my mind these folk are the movers and shakers in our present economy,..you know,….the big people who supply the little people with “jobs”,….?
Ohh,..I forgot,…this site is full of socialists (another word for thief’s) ! : /
@ Max/Stacy
Would you consider having someone from the Nevada Gaming Commission as a guest? Surely you could get a viral video out of that.You could ask him/her how to interpret the term “express a view”. Hahahahahahahahaha.
If naked short selling is not counterfeiting, I don’t know what is. Does anyone know of a casino that allows a player to manufacture his own chips then cash them in for the house’s money?
@ Wahrheit
That MUG looks ever so lonely on his own…they should be able to produce a football team or even a league..
Is it just a coincidence that Sigurdur looks a lot like Goldfinger?
http://www.interpol.int/public/data/wanted/notices/data/2010/68/2010_21468.asp
Chinese the best capitalists in the world for allowing naked short selling? WTF? Looks like Rogers is just a glorified gambler with little regard for the little people of the world who work hard and save their money. In the war of savers vs speculators looks to me that he ain’t on the team of the saver.
Max and Stacy should make a documentary about these financial terrorists, call it Bankers Gone Wild.
VERY disappointed to hear Mr Rogers defend naked short selling
some answer: ‘China’s doing it so it must be okay’
Max did a good job holding his ground
good work
whenever i see market pundits on TV, i really wonder if they are going to broadcast their trading strategies publicly
Mr Rogers could be massively short the € for all we know
Hedge Fund Law Opposed by U.S, U.K. Set for EU Votes
http://www.businessweek.com/news/2010-05-17/hedge-fund-law-opposed-by-u-s-u-k-set-for-eu-votes-update1-.html
@Youri you have me splitting my sides with that Europe purchases America.. ? I thought we owned it according to some Conspiracies?
Still in for a penny in for a pound, its only paper
Europe will be forced a Massive Nuclear Op – QE
That’s gonna be fun. If Europe prints enough we can buy up the U.S. LOL
soros loads up on jP Morgan…200 mill worth
England to win World Cup, says JPM quant model
http://ftalphaville.ft.com/blog/2010/05/18/233991/england-to-win-world-cup-says-jpm-quant-model/
Jimmy Rogers has always known the Euro was a dog.
He had a video of him buying minted Euro coins as a collectors item
He was just having a quick side bet that went bad.
Time for Europe to start dumping some dollar paper.
@stacyherbert
Oeps! Does Europe have the honour to bring the system down? It will take down the U.S. regardless.
@frances snoot
I think It’s a bit early to say if the Chinese banking system is that prudent, I have my doubts frankly speakin.
Until now they had only growth which is able to hide a great deal if mismanagement. Now the Chinese government has thrown money into the system like there is no tomorrow which isn’t that difficult either but the real misalloction of money will come out in the end.
They’ve blown a large housing bubble in some parts of the country which is ready to pop. It won’t kill them but it will temper the expectations and have wider economic consequences as such. Much money got into the stock bubble as well. Donnow if that’s poppable.
Congress blocks IMF support for Europe: http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100005734/congress-blocks-indiscriminate-imf-aid-for-europe/
@Creative Destruction Your T-shirts are great, and the introduction very good as well
UK taxes on capital gains pass from 18% to 50% !!!!!!!! Cameron is godamn f@$kin robber. A elected criminal. What could you expect anyways now that bailed out the banksters, gave them the money from the slaves, and reborrow it from the same banksters terrorists with interests ! Simple. Capital gain taxes of 50% on everything will just render any risk taking, specially in what’s left of productive activities, just plain useless. Bloodsucking fascists british political classe. Expect seing the same type of shit everywhere in Europe and the rest of the world. It will just completely implode any private sector investment that’s left.
@youri
obama vs the innocent
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5575883.ece
Ha!
What the banks are doing brings new meaning to the term….
‘Having a lend of yourself’
China’s capital structure via state-controlled banks:
http://www.mallesons.com/publications/2010/May/10340129w.htm
A bigger volcanoe in iceland might blow
http://modernsurvivalblog.com/
“it is always the little guys fault” Looks like the middle is just realising that the top uses the bottom to take the middles money.
Jim Rogers shows the mind set of typical monetary greed – it is always the little guys fault – balderdash! The look on Max’s face while interviewing Rogers was priceless – as in empathy and understanding for the common folk.
PALIN vs. BAMBI http://www.youtube.com/watch?v=7JssGd_a5ho
Yeah I know there’s a lot to enjoy in Alaska Pali wink wink! http://www.youtube.com/watch?v=rSdFIDygFwM
See Also: Keith Olbermann Fact-Checks Glenn Beck And Sarah Palin’s NRA Speeches – 05/17/10 http://www.youtube.com/watch?v=sabcAuKWGJE
The Man Who Made A Monster – Frankenstein http://www.youtube.com/watch?v=Mach-o6aoEo
btw I get the strange suspicion that Joe Weisenthal just doesn’t like movies and when he got the change to do somtin about it he didn’t hesitate.
“Now I know how it feels to be God” shouts Joe Weisenthal when Hollywood plunges into it’s own black hole.
Joe Weisenthal got traumatized by Bambi who’s mother got shot by Sarah Palin on a family hunting trip ahah!
Sarah Palin At NRA Convention–Bambi’s Mother: It’s What’s For Dinner http://vegetarianstar.com/2010/05/17/sarah-palin-at-nra-convention-bambis-mother-its-whats-for-dinner/
(Why is it when I see Palin I am thinking about Happy Tirol Porn moves?)
Wow, Stacy is wearing the black cloth. Just beautiful.
And thanks for the show.
@ Creative Destruction…perhaps some Boycott Coke shirts are in order?
Jim Rogers…does he not want to assign blame to the “speculators”/bankers in Greece or does he want most of the blame on the Greek people? I agree with Jim in that respect because if it is as a country that they borrowed too much (and is it really governmental borrowing/welfare promises), then maybe it’s Greek fiscal policy that is at fault…and the speculators? Can we blame vultures for diving to feast on carrion?
If you have to make the Goldman Sachs Doc comparison it would be Doc Frankenstein who gets killed by his own creation.
“Now I know how it feels to be God” shouts Lloyd Blankfein while the monster strangles his neck.
@The Dork of Cork You are completely correct, thats exactly what Jim Rogers is
@Mike. try this. http://www.youtube.com/watch?v=YN1WxSITwWw
Angela Merkel too realizes all that has gone by. So why are politicians letting this slide? Don’t they have the power to change laws? Don’t they have the power to shut down enterprises, lets say, for treason? Why no real actions are taken when everyone can clearly see what is wrong?
Arrest all bankers that are working against people. Nationalize their wealth and enterprises. Now THAT would have popular support.
@Mike. calm yourself and walk in a serpentine motion.
jimmy thought the euro was safe. wrong. jimmy thinks gold will go much higher?
gold price is down. manipulation is at all time high.
woke up to a 2 for 1. thanks for the shows.
@Creative Destruction
Did you know that Rabobank bought into the Rothschild? Well you know now
As part of the deal, notes Timesonline, Rabobank is buying a 7.5% stake in one of the key holding companies in the Rothschild empire, Rothschild Continuation Holdings, which owns the N M Rothschild business in the U.K.
Rabobank becomes the second biggest investor outside the Rothschild family after the trading group Jardine Matheson, which owns 20%. This is Rothschild’s second joint venture with a Dutch bank. http://www.infowars.com/rothschild-investment-banking-posts-record-results/
Stacy
I don’t want to alarm you, but……..GOLD GETTING KILLED!!!!
Mike
Business Insider
i refuse to read or listen to Henry Blodget
and i have no use for his ‘popular’ website Business Insider
http://www.sec.gov/news/press/2003-56.htm
Amazing Show Folks!
Great Headlines! Haven’t even heard Jimmy yet.
Well Jimmy spill some beans …..
@Paul
There is a European bank called Rabobank:
http://www.rabobank.com/content/
Interesting.. what a mess..
The most interesting thing is he was admitting that events are catching even himself out. Nothing is predictable and less so when volatile.
As I see it the problem is that the issuing of debt credit and accepting of these short term benefits by parties on behalf of others has broken down and the promises, do not marry with reality and have become disconnected and therefore found to be false.
They are in effect fantasy promises at best and at worst fraudulent constructs but they all end up being fantasy dreams or nightmares.
I like Jim Rogers in the same way I like James Goldsmith there is something kind about these rogues.
@Creative Destruction…
Can you please explain the Rob A Bank shirt? Is that some takeoff of a well known emblem (I’m not familiar with it…at least it hasn’t registered yet…)…
@Stacy
The site just went live yesterday. Got some orders already. Mostly friends. But I have sold them at local markets over the last months.
I’m so happy you like them. Did you see the Plunge Protection Team T shirt for men? Thinking of making a shirt each for Bernanke, Greenspan, Paulson, Geithner, etc.
Jim Rodgers is a fake – he believes in a floating exchange so that he can profit on its movements via inside information and also seems to endorse the concept of creating counterfeit money to speculate and extract the surplus savings of countries.
He is not a capitalist because he does not create any capital – he is a vulture who creates a simple rural boy image to cover his cannibalistic character.
Buffet and Rodgers could be brothers
@Creative – ha, love them; I like the Ladies Goldman Sucks and the Mens Ponzi; good job; anyone buy one yet?
@ Max and Stacy
I have some free t-shirts for you as a thank you for the information and humor you provide. Just let me know what size and design you want.
You can send it to me at my comments email. Thanks again.
@ Stacy
Check this out: http://www.creativedestruction.us
First again!!! Awwwwww Yeeaaaahhh!