[KR47] Keiser Report on Toxic Twins – Oil Spill & Cash Crisis

Stacy Summary: This episode, we compare the BP offshore toxic oil spill crisis to the toxic derivatives spill polluting global financial system. In the second half of the show, Max interviews Heidi Moore of Slate’s TheBigMoney.com about movie futures, financial innovation and financial reform.

98 thoughts on “[KR47] Keiser Report on Toxic Twins – Oil Spill & Cash Crisis”

  3. Samana

    On the late day reversals; I love his sample size! I wish he would have looked back at least from 1960, or better yet, since the stock market opened.

    But that is not even stating the obvious, that the rigged market has always been built into the stock market.

  4. stacyherbert Post author

    @Samana – his sample size starts in 1998; the Plunge Protection Team / Working Group on Financial Markets was started in 1987/88

  5. Bronxy

    It’s ridiculous, no one can pull up the market, it’s not like buying futures before the market opens. No one simply have that kind of money.

  7. Dedo

    Samana,…..Exactly!,…It’s just time to dig the dirt,(the time has come)..you know,..time for change.
    The folk running the show, have always been corrupt, ruthless and insidious in their operations (nothing new here),…move on folks, nothing to see ; )

  10. Mother Earth

    Let’s replace the word conpiracy with assumption of malign collusion..

    The idea that oil companies block climate change mitigation is an assumption of malign collusion (within the industry)

    The idea banks shake out stock trades by manipulating the prices is an assumption of malign collusion (between banks and stock markets).

    The idea that 911 was an inside job is an assumption of malign collusion within the US governemt..

  15. Gordo

    Well I have not problem bashing capitalism or corporations ;-)

    What I do not get is they can track down a “terrorist’s” financing around the globe and yet they cannot figure out a few trades on a fully traceable market.

  17. Rastaman

    @Max, Stacy

    GAWD! I LOVE IT when i wake up and there’s a double shot of max and stacy to listen to.

    when are you two going 24/7/365 like CNN?

  18. Nastyviibezz

    I am totally bored with this HSX stuff now.How much airtime has this received over the last few months on all the different shows Max and Stacy put out.

    I would have thought with all the carnage in markets around the world there would be something more interesting to talk about ;(

  20. g7enn

    Leuren Moret:: BP Disaster Purposely Engineered for Profit (quite a sobering interview)

    According to Leuren Moret:

    * Nuclear Power to expand most of all US energy sources by 2030

    * Obama authorized offshore drilling for 85% of US

    * 27 Deepwater Leases granted by Obama since April 20, 2010 with Oil Rig Castastrophe

    * HAARP can AMP up Hurricanes by Steering them over Warmer Water

    * BP Disaster Capitalism Creates an Environmental Disaster then Profits on the Cleanup

    * HAARP created Black Sea Catastrophe to get even with Putin for Energy Contracts with Italy & other countries

    * BP Runs UC Berkeley But Taxpayers Pay for their Research

    * BP Dispersant will Rain down on East Coast causing long term damage for thousands of years

    * People should be Evacuated from East Coast due to Terrible Impact having to do with the combination of the toxic dispersant and radiation causing 10 times increase in toxicity

    (In a second interview she describes how HAARP was used to influence 2008 election)

    http://www.parenting-healthy-children.com/Parenting.xml

  21. maxkeiser

    Hi Max Keiser!

    I am a German watching your show regularly since a few months (it is great – thanks to you and Stacy) and today I want to tell you what is really going on in Germany….

    every day more and more people are losing trust in our currency…especially the Germans who have (a lot of) money are trying to get rid of it in any way they can. The proof that the crack-up-boom has begun:

    1) Since around one month gold & silver are nearly sold out, it is very hard to get it and many stores had to close temporarily as they just could not get supplies anymore…people even went to Austria and Switzerland in order to get something…..if you were lucky you still have to wait up to 3 weeks until delivery, i myself called one store and the owner reported they are working day and night in shifts

    2) a lot of people exchange money into other currencies such as the Swiss Franc, the Norwegian Crown or even the Polish Zloty and the Tcheque Crown, also more and more people close their accounts being afraid of “bank holidays”

    3) People report that their request to pay in Euro in Switzerland/ Poland/ Tcheque Republic and Singapur was partly rejected, people asked for payment in Dollars or in their own currency

    4) Real estate prices in some regions as e. g. Munich have risen to astronomical hights, it is almost impossible in big cities to find houses or appartments at a reasonable price. Authorities report that buyers often pay in cash – isn`t this an attempt of capital flight??

    5) prices of farmland and farms are rising as well, farm owners report from a rising number of people coming with cash and asking them if they were willing to sell

    6) manufacturers of luxury kitchens/ furniture are working overtime, just last year they had to offer discounts in order to sell something

    5) manufacturers and craftsmen are also busy…everyone tries to repair something in his house/ garden…

    and many more signs….

    Well, I think it is definitely not yet a mass panic but who knows what is gonna happen in the coming months?!

    I think one reason why people are getting more and more nervous are the rumours about a possible German exit of the Euro. People called the Bundesbank in order to get any information but they just do not say anything and one secretary even said: “Even if it was true I could not tell you!” Why they do not just simply deny it? At the same time, people report that on normal shopping bills they suddenly see the price in both Euro and DM and stuff like that…and now as Horst Köhler, our president, suddenly resigned, many people think he is aware of possible bad things yet to come and he does not want to be held to account for that, i mean he was the one who finally signed the “Super-Bailout” ….the second politican in two weeks to resign…are the rats leaving the sinking ship?!

    By the way, if you are looking for a very interesting guest to interview on your show I would recommend you someone you might not know yet: Walter Eichelburg.

    He is the founder of the very popular German webpage: http://www.hartgeld.com (hard money, means Gold and Silver) and he regularly publishes very critical articles about the current economic situation.

    His readers can write him ideas and personal experiences from what they think is happening, a lot of the above-mentioned facts are being presented and discussed on that page and also the currency reform rumours are intensively being discussed at that page. Unfortunately the Webpage is only in German so far having tens of thousands of readers mainly from Germany, Switzerland and Austria. The unique thing is that among the readers are many managers, business men, lawyers, bankers…people with a little bit more insight in the system that normal people…they are reporting, of course anonymously, what is really going on….information might not always be trustworthy an correct, but you have to look at the big picture….

    Even big media like for example the “Spiegel” are nowadays reporting about this site but still trying to ridicule Walter Eichelburg as being a leader of conspiracy theories….but he is not at all…I am also a reader of this page and all I can say is that he is really fully aware of the crisis…he is also giving seminars in Germany about how to save your money in the crisis….

    you can if you want contact him under: [email protected] or [email protected]

    Hope these information were at least in somehow interesting for you! Keep up your precious work and stay as you are, Max and Stacy!

    Regards

    Kristina A.

  26. Fibon11235

    Good Show, particularly the line that marketing and manipulation are the same thing in Hollywood…

  27. Majestic

    @ Fibon11235

    I guess that broadly speaking, marketing is a kind of ‘soft’ manipulation. (or attempt to do so). So it’s probably not surprising that some marketers might meld the two conceptually.

  28. houseofcards

    You’d think BP would have paid a tiny proportion of their profits for good fail safes, if only as sensible risk management, let alone the moral duty. Even when it makes long- term financial sense to do more than the regulatory minimum, corporations cannot bring themselves to do it- a pathological need to cut corners and penny pinch.

  29. Majestic

    OT: but interesting. China now has more millionaires than France

    http://www.businessweek.com/globalbiz/blog/eyeonasia/archives/2008/07/china_now_has_m.html?campaign_id=rss_as

    “China is now only behind the U.S., Japan, Germany and Britain in terms of High Net Worth Individuals”

    Typically irreverent (but frequently amusing) rightish-leaning commentary of the same from Bill Bonner of the Daily Reckoning.
    http://www.dailyreckoning.com.au/millionaires-in-china/2010/06/01/

  31. Daniel S

    The “dispersant” also sweeps the oil under the rug, forming clouds of droplets beneath the Gulf’s surface. I wouldn’t be surprised if we eventually learn that those chemicals would otherwise be costly to dispose of. BP’s ability to refuse disclosure on it’s contents reminded me of the process for Genetically Tampered Pseudofoods. The Canadian government has it’s own scientists but as best I can determine they don’t independently verify data. They trust the data handed over by corporations.

    A stock market listed corporation has a legal obligation to increase their share price. This and executive “compensation” via options and warrants, often lead to emphasis on managing for improved results (only as reported on the balance sheet) and investor perceptions over the short-term. Will these executives always make the right choices for public safety and ecological health, even if it means scrapping a seed tampering project that is years into development? We have to hope so because our government is flying blind except for corporate data.

    There is so much corruption in this system it is a wonder it functions at all.
    It only does because the Earth has so much to plunder and has an amazing capacity to heal over the wounds we inflict.

  32. Daniel S

    We need an organization that Re-Brands Orwellian products and words like Believer, Agent Orange, NutraSweet, Corexit, Nuclear, GE Foods, etc.

    Believer. As opposed to non-believers? Do Atheists believe in nothing? They must be subhuman and worthy of treatment as such. After all, to be human is to have beliefs. On the other hand, perhaps Atheists are the believers. They believe in reason and the courage to face it’s conclusions even against organized ignorance.

    Mmm, Oranges. Natural and delicious. More like Agent War Crime.

    Is NutraSweet Nutritious? More like SweeToxin.

    Does Corexit really Correct it? More like Hydit.

    Nuclear. Ya, increased background radiation on a global level is clean and healthy alright. So is living downwind from a Uranium mine. More like NuCancers.

    Genetically Engineered? Engineering implies far more intellectual rigor, predictability of outcomes, and built in redundancy than these “food” products possess. The process is complex, I’ll grant them that. But then so is lying. So let’s call “spokesperson”s “Believability Engineers”.

  33. Mep

    @ Daniel – We need an organization that Re-Brands Orwellian products and words like Believer, Agent Orange, NutraSweet, Corexit, Nuclear, GE Foods, etc.

    Does Corexit really Correct it? More like Hydit.

    Love it. Those were precisely my thoughts when I learned that the dispersant is called Corexit.

  34. Casper Studly

    Tenks Gott I’m an old man and I won’t be around to face the consequences of too many humans. In fact, the more people I meet (or hear about) the more I love my rabid wolverines and syphilitic vampire sharks. Harrummph.

  37. kitty

    Some Pillow Fight.

    By the time Heidi says, “Wall St has been so beaten down…etc” I glazed over a bit because she says how Wall St is saying “we’re not hearing anything productive we are only being attacked”

    Yeh, attacked with bags of bail out money!

  38. Daniel S

    @ Mep – Thanks. It frustrates me that the power in naming things is so readily handed over.

  39. dan valley

    Just in case you didnt hear SEC will take payout from goldman as long as SEC drops the word FRAUD….also no piggy back lawsuits.

  41. dan valley

    Al Gore, Tipper Gore Separating After 40 Years Of Marriage , Tipper cites “An Inconvenient Truth.” for the break-up.

  43. davem

    I hope shameless self promotion is acceptable, and I know there are many TAM regulars who live in London. This weekend I’ve got 5 prints on show/ for sale in Crystal Palace, as part of the Crystal Palace Triangle Art Trail. They are all political works, part of my “Bailouts, bonuses and austerity” series. All these works have been previously shown on this site and are all inspired/ informed by the knowledge shared here: http://davemiller.org/projects/bailouts_bonuses_austerity/

    Please come along and pass the word around. Please tell any rich/ well-connected friends to come and begin the reverse the transfer of wealth back to the poor. All prints are high quality and professionally framed, and very favourably priced. Places and details are here: http://blog.thetransmitter.co.uk/2010/05/crystal-palace-triangle-art-trail.html

  44. Youri Carma

    Well Heidi Moore can act all reasonable like let’s talk but it won’t work. Wall Street and the gov piss on here reasonability.

    They are all skull and bones satanist evil-doers who do this on purpose. But when something cause wrong the just say, he it was a mistake and all the gullible people like Heidi buy that BS. Wake Up Heidi! They are crooks!

    This system goes down not because they won’t listen or are stupid or somtin but because THEY WANT TO! They want to bring in the New world Order for the chaos they created themselves.

  45. Youri Carma

    One other thing: They aren’t just kleptocrats but they are genuine Fascists!

    Look at what is happening in the U.S. for crying out loud! FEMA camps, citizens can be taken of the street and held whitout any warant or notice. Is that kleptocracy? Guess not that’s real fascism baby!

    Get Real!

  48. Myself/Oslo

    Just re-read a Swedish historian writing in the early 1960s about the post WW1 Germany inflation/depression.
    He concluded that in the end, the debt bill placed on Germany after WW1 ended up being un-payable, thus triggering the printing press. Ending up with the bill being paid by the German middle class, through loss of savings due to inflation and eventually devaluation. And that this enormous loss of savings paved the way for you-know-who.
    Are we at risk of repeating this scenario?

  52. Wahrheit

    So even though all activity on the stock market is logged, no formal investigation has occurred that would expose what transactions caused the drop? I thought it was tracked down to one brokerage in Chicago…

  56. jon

    So evidence is pointing to a huge crash. Anyone have any idea of the timeline now.

    I’m guessing very soon.

  57. Mep

    @ dan valley – Oh, there are def. viable suits if the law is applied. If the oil keeps gushing until August at the rate it has been, and if the max fine per barrel was applied ($4,300 per barrel spilled), BP would owe $10.75 BILLION just for fines under the Clean Water Act.

  58. FranSix

    @Futures Markets Not Reflecting Market Moves

    The futures markets have been a horrible indicator of any downward move in yields, they’re choked with commodities fluctuations:

    http://quotes.ino.com/analysis/extremes/futures

    http://stockcharts.com/h-sc/ui?s=$IRX&p=D&b=5&g=0&id=p97076364269&a=191209925&listNum=2&listNum=2

    Normally, you would see treasuries, currencies, gold as the biggest gainers when this kind of market move happens. But that hasn’t been the case for over a week now.

    http://finance.yahoo.com/bonds

  61. Pez

    Bank of England collapses July-August. Federal Reserve collapses in December all this year. Merry Summer/Winter Equinox!

  62. Marc Authier

    You have to conclude that the only that would change something is either a 80% unemployement in the UK and the USA or a world war III with nukes exterminating New-York London and Hollywood. NOTHING WILL CHANGE. USA and UK desserve TOTAL bankruptcy.

  63. Marc Authier

    @Pez
    It’s real good news. The only way to get rid of these bastards is effectively a financial extermination of the FED and the Bank of England.

  64. Marc Authier

    Anglo-saxon capitalism must be destroyed. Completely erased from the face of the Earth. It will happen. It will. And it will be a good thing. I don’t know who and what will esterminate the structure. Probably a volcano or a nuke sent by “accident” by someone real tired of New-York and London.
    Have you noticed how GE is going down down down down. GE is KAPUT ! Target price ZERO !

  65. Pez

    @Marc

    Dr. Ravi Batra predicted the end of Wall St by 2010. I don’t think he realized the amount of corruption (government Goldman Sachs) when he made the prediction in 2007.

  67. Bonn

    @ Pez
    Dr Dr. Ravi Batra is a Conn artist
    And Tey definately gonna continue Wall St. fer anotter 2 to 3 years
    With HFT even I came to the same conclusion after a point peeps will not trade anymore
    But Co.s will still require Capital so Stock markets will and hafta survive some how
    because to grow from a 5 mill to a say 100 mill Company no individual would risk his own $$$$$$ he’d rather spread the Risk by offerin a IPO
    tear are very few multi -million Co’s where tee owners own above 50 % Stock
    But wit all tee Fleecin happenin on Wall St tat might change in the near future Cause from me guestimates 400 families robbed 1 trill in the last 2 ears tas a sh!t load of $$$$$$
    Hic ;-)

  68. Bonn

    Case study
    Anil Ambani offered an IPO for his petroleum Co
    He needed aruond 3 billion dollars the whole world offered him 6 Bill
    his freakin Brother just built a 2 billion dollar house in Mumbai
    He coulda used his own monies but he wanted to spread ta risk

  70. Mep

    @ y’all – I’m worried that we (the US) might be planning some shitty surprise military operation. Just saw a Democracy Now headline that we’re planning unilateral strikes on Pakistan to put in place “in the event of a successful attack on US soil.” Well, I mentioned that my father-in-law is dying. One of his grandsons is in Iraq. All we know is that he does all of his work in some flipping cargo-type storage container. Don’t know exactly where he’s located, what he’s charged with doing, anything. But he’s always easy to get in touch with. My sister-in-law has been trying to contact him for the past 2 weeks to let him know that he needs to get home to see his grandfather. She’s heard nothing, which is weird. She thinks he might be on a special mission or something.Now that I see this Democracy Now headline, I’m freaking hoping that we’re not cooking up a false flag op somewhere in the US so our guys can go and kill whomever in Pakistan and ratchet up the military offensive there.

  71. Bonn

    @ Mep
    yup tas been on ta radar of Keiserville fer ta last few days tey preparin Dry Runs on Pakistan
    But Mep Pakistan doesnt have any real resources
    USA never attacks a country without resources
    I feel its just a pretext for an Invasion of Iran
    Watch out fer a false Flag ops
    Hic ;-)

  72. Mep

    @ bonn – Hic! right back at ya. I don’t know what’s going on. If it’s not a resource thing, it would make sense that it could be just a terrorism/massacre the dissidents who oppose US involvement in the area and US drone strikes thing. Just seems really weird that my nephew is no longer reachable, where usually, he’d e-mail right back, set up a webcam chat, text message, something.

  74. Mep

    @ dan – I AM a farmer! Just don’t ask about the lettuce, b/c the heat already ruined my crops. How’s the dirt thing going?

  77. Mep

    Yay for the dirt! I’ve got tomatoes (3 kinds), straight-eight cucumbers, bush cucumbers, radishes (already harvested some), sugar snap peas, garden beans, red onions, beets, chives, sage, basil, oregano, parsley, strawberries, concord grapes, blueberries, green bunching onions, yellow squash, and lettuce (all but the romaine dying back already.) Don’t have too much property, and would have more room if I planted in the perimeter of the mulched area where the dogs poop, but I’ve found plenty of nooks, crannies, beds, and containers to plant in.

  78. dan valley

    I remember those victory garden days and picking wild blackberries…and the canning / freezing…so much knowlege lost. Most of the farms where I grew up have stopped farming and theres just gas wells all over the place.

  80. Mep

    Yep, I figure that if I’m angry about GE food, energy wars, and concerned about climate change, the least I can do is grow some of my own food. Funny thing about it is that it’s sooooooo incredibly satisfying that it’s addicting. I’m not done findng new things to plant and new places to plant them in yet. It’s a total bummer that generations have lost the knowledge you speak of. My mom grew up poor on a farm, and she never even passed on anything related to gardening or canning to us. I wish she had. Now, I’m starting things from seed and giving her all of her plants to start her garden with! everyone I know is growing something . . . even the most wealthy people we know–we planted some of my stuff for them in their garden this past weekend.

    Oh, and speaking of gas/gas wells, <a href="http://www.msnbc.msn.com/id/26315908/#37458730"here is Rachel Maddow’s segment on BP/the Gulf spill from last night. Good info. in there on potential fines and BP’s potential bankruptcy.

  82. Bonn

    Man RT too what a bunch of Twerps on the 9/11 nonsense
    All you gotta ask the US Govt. is for the pentagon Survalience vids
    you will see that its a missile that hits the pentagon or a drone kinda thang
    Hic ;-)
    Oh the families will be affected by it
    I am willin to donate 100 dollars to a fund for the familys and I aint even a US citizen but I want to see the survailence Vids
    Proove to me that it was actually an airline

  84. Paul

    @Stacy…

    I really enjoyed your analysis about BP’s self regulation vs. Wall Streets self regulation. And that dispersant thing…really keen observation.

    It’s a wonder what a UCLA education can do. =)

  85. Bonn

    I regret postin tis
    http://www.infowars.com/crosstalk-on-911-whodunit/
    tat guy on RT keeps sayin I am not a scientest i dunno what temp. steel melts at
    Freakin tas 10 th Grade science Twerp
    or go to freakin google type what temp does steel melt at
    go to a steel mill
    put yer hand into the molten steel to test the temp ya twerp
    lol
    Hic ;-)

  88. Mini US

    “Respectable derivatives Market”

    Noooooooooooooooooooooooooooooooooooooo

    Stop it Heidi.

  91. Mep

    having one more glass of wine and hitting the sack so that i don’t have nightmares about drones hitting the Pentagon and causing a scarcity of small gold coins.

  92. Mini US

    @MorrorMirror

    The USA decides who the leaders are in all the countries of the world.
    They have many methods of achieving this.

  94. Marc Authier

    @Jon

    Crawford Perspective a newletter writer says he sees dramatic action by 30/6/2010. That’s in less than one month. Very realistic. What’s funny is that he uses astrology to predict stock and market movements. And he managed to have the best performance amongst newletter writers.

    http://www.crawfordperspectives.com/

  97. ehswan

    WHAT,
    ” WALL STREET HAS BEEN SO BEATEN DOWN”. Am I living in an alternative universe!!! IN THE UNIVERSE THAT i thought that I lived in “wall street just ripped off the world for trillions of $$$$ and made billions in profits.

  98. Giuseppe Bagodonutti

    Hedging currency and fuel costs???

    That’s a lame defense for Derivatives…

    One of the Junior Gold Producers I follow had a problem with fuel supplies last year…
    So their solution THIS year is to actually STORE SOME FUEL for the winter…

    DUH!!!!
    You don’t need derivatives for that sort of game…

    anyway…
    I find it interesting that the HSX contracts are geared for $5k
    just like the CDN TFSAs… HMmmmmm

    I am seeing the parallels… the copycat nature of the American System…
    Good job, Uncle Sam…
    You’re learning to weasel dumb money from the proletariat…
    I salute you!!!! (with the famous finger of Trudeau…)
    Maybe I should go activate my membership with the Movies Union (IATSE) so I can start getting some inside info on the next great sci-fi thriller blockbuster to come out of the anus of imagination?

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