[1142] The Truth About Markets London – 26 June 2010

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194 Responses to [1142] The Truth About Markets London – 26 June 2010

  1. Obviously I am downloading and going to listen.
    Thanks again for another great show!

  2. SOT:

    100 kilogram gold coin sold for 3.27 million euros

    http://www.reuters.com/article/lifestyleMolt/idUSTRE65O2S320100625

  3. @TAM:

    Great stuff!

    Many thanks,

    What happened to “blobflation” btw?

  4. We have some more austerity measures and additional taxation coming to NY. Paterson’s got some new public service cuts and additional taxes up his sleeve, and he’s also planning on capping property taxes, which I’m sort of confused about . . . wasn’t capping property taxes part of what drained CA’s state revenue?

  5. The Pasty Song has nothing on the ROTI song…
    http://www.youtube.com/watch?v=D55zE8ve2Hg

    Roti & Kuchela
    http://www.youtube.com/watch?v=drkxfS5Mm_o

    Now that you have had something to eat,
    here’s something to lose your lunch over…
    Need a new hole in the head? Check this guy out
    http://www.youtube.com/watch?v=O1KD7G0W0tQ
    :twisted:

  6. Youri Carma

    Can here shit!?

  7. Youri Carma

    Can hear shit!?

    Superfly? Liked Super Grass but they are gone …

  8. California Doctor

    Riots have broken out in Toronto
    Toronto radio 1010 AM NewsTalk has live coverage of a rampage.
    http://www.surfmusic.de/country/canada.html

    Look down the list and you will see a listing for CFRO Newstalk 1010

    Starbucks and McDonalds have been damaged and smashed up.
    Protestors and rioters now moving through streets.
    Toronto police have withdrawn.

    Police car on fire.

  9. @ Youri – No. Go to the potty, please. ;-)

  10. California Doctor

    Toronto police have shut down the center of the city.

    My guess is that they have surrounded the central city to prevent people from moving in and out. The news reporters up high see riot squads beginning to run into the G20 march.

    2000-3000 protestors reported to be moving into the city.

    Several hundred attempted to breach police permitter.

    Scotia Bank, board and rocks used to smash windows.

    Police cruiser torched.

    Bank of Montreal damaged.

  11. California Doctor

    A McDonald’s in Toronto remained open, the staff turned out lights, closed the store, and fled the scene.

    Tourists are on the streets taking pictures. No police in the area.

  12. California Doctor

    http://live.reuters.com/Event/G20_Summit

    Reuters with coverage of the “summit”…

  13. @ CalDoc – Whoa. Pic of the cruiser:

    http://twitpic.com/207lxz

  14. Another: http://tweetphoto.com/29316359

    Guess they didn’t like $1.1 billion of their taxdollars spent on a police state to pay for and protect the private party/summit for the kleptocrats.

    At least the rioters hit some banks.

  15. California Doctor

    @MEP – that Reuters thread has photos of the riot.
    The Toronto 1010 AM Newstalk radio station has reporters there. The rioting is continuing and the police appear to have withdrawn as the anarchists rampage on the street.

  16. Gee wiz Max, I can forgive you for being a gold-bug but now you back austerity measures so the counterfeiting cartel can be paid off?

    Here is a solution, Max:

    1, Set reserve requirements to 100% to shut down the counterfeiting cartel.
    2. Create and distribute a sufficient amount of new legal tender and distribute it to every adult. This would:

    a. enable underwater home owners to pay down their mortgages to market price levels.
    b. compensate savers for years of artificially suppressed interest rates.
    c. Fix the banks in nominal terms.
    d. Fix state tax revenues.

    Inflation risk? Maybe, but if banks were put out of the counterfeiting business via a 100% reserve requirement then the only source of new money into the system would be under government control, the Fed and US Treasury.

    Long term solution? Allow liberty in money creation, usage, and acceptance. Government money should be legal tender for government debt only (“Render to Caesar …”) while private money would be allowed to serve the private sector.

  17. California Doctor

    @F Beard – so are you suggesting that people should have two jobs? One job working for the government and to be paid in fiat currency and a second private job working for gold or silver?

  18. @ CalDoc – If the police were smart, they wouldn’t just withdraw, they’d strip off their riot gear and join the anarchists.

  19. I thought I was the only one who was drunk! Thankfuly, I’am not alone! :D
    Good show as always.

  20. Scientific study proves that while its true that Obama is utterly too incompetent to be president, he’s as well too incompetent to know that he’s too incompetent to be president. Therefore, its possible that he may be sincere.

    http://opinionator.blogs.nytimes.com/2010/06/20/the-anosognosics-dilemma-1/

  21. LOL. The riot police are gonna need to summon their horses or get a ride home from either public transportation or a protester:

    http://twitpic.com/207tin

  22. On Friday’s Alex Jones show, Bob Chapman explained that there are no such things as coincidences. And that its no coincidence that the President’s personal wealth managers sold BP stock weeks before the planned oil release.

    I tend to agreed with him.

  23. “First came their churches, Then came their schools, Then came the lawyers, Then came the rules.”

    http://www.youtube.com/watch?v=I-_W2RBmbkI

  24. @F, Beard,

    If your plan doesn’t include the elimination of the Fed, it’s utterly preposterous. They’re certainly not going to tie their OWN hands. That’s ridiculous.

  25. The people of Canada tagging their property and enjoying it:

    http://twitpic.com/207wby LOL! Check out the caption.

    That’ll be the last one I post. Don’t want to keep detracting from the TAM thread any more . . . I’m still listening to it. Some of these pics just crack me up.

  26. “@F Beard – so are you suggesting that people should have two jobs? One job working for the government and to be paid in fiat currency and a second private job working for gold or silver?” California Doctor

    No, you present a false choice. Common stock, for example, is a much more ideal form of money than either fiat or precious metals. A common stock company might hold gold or silver as an asset in addition to performing assets such as factories, etc. A share certificate is merely paper but has genuine value nonetheless. Without legal tender laws and other government privilege, banks would have been forced long ago to issue their own common stock as money, I would bet.

  27. “If your plan doesn’t include the elimination of the Fed, it’s utterly preposterous. They’re certainly not going to tie their OWN hands. That’s ridiculous.” Tony

    I would eliminate all government privilege for the Fed and FRNs and buy back its gold at $42/oz. It would merely be a private bank after that.

  28. G20 pledge 5 billion for the poor, 1 billion for their weekend get together.

    http://in.reuters.com/article/idINIndia-49679920100626

  29. Youri Carma

    Talkin bout virtual currency on the net: Online Poker got rather big here in the Netherlands and people are indeed willing to work for Poker points ….Amazing!

  30. California Doctor

    US military choppers are landing in Toronto near the CN Tower.
    They appear to be the same type used to move the President or governmental officers.
    http://live.globalnews.ca/Event/G8G20_live_coverage

  31. @F Beard

    You’ll only pull their ability to print free money from their cold dead fingers.

  32. Wake up Tony! Alex Jones and that whole cabal is just controlled opposition paid by aipac lobby! He is not William cooper, otherwise we’d have already be with at the same place with JFK, bobby, Bhutto and others … U’re so silly!
    Wake up and learn but don’t forget to join the party and open a bottle of some some good French or Spanish or Chilean wine as I’m drinking right now … it seeems not alone! ;)

    To sum up my BS I’d like quote my favorite BShiter :

    There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don’t know. But there are also unknown unknowns. There are things we don’t know we don’t know….

  33. Alfred Wallis of Cornwall:-

    http://en.wikipedia.org/wiki/Alfred_Wallis

    So you reckon this is what we will be doing by October sheltering
    from a finanical blitz :-

    http://www.20thcenturylondon.org.uk/server.php?show=conObject.7378

    I like that photo and one I haven’t seen from Bill Brandt before.

    Another good one :-

    http://www.20thcenturylondon.org.uk/server.php?show=conObject.7387

  34. Police State in full force at G20 in Toronto

    http://watch.bnn.ca/#clip318838

  35. You’ll only pull their ability to print free money from their cold dead fingers. Tony

    Money creation in a free market is legitimate and honorable since money is a wonderful tool. But if the bankers dare risk another great depression and world war over a government backed monopoly, then they risk not only their lives too but also judgment from the Lord, I’d bet.

  36. California Doctor

    F. Beard – Somehow, I doubt that judgment from God in the afterlife is a factor to the banking hegemony in this life.

  37. Youri Carma

    Nat Rothschild launches mining venture http://forum.prisonplanet.com/index.php?topic=176963.0

    Mr Rothschild, the son of banker and philanthropist Lord Jacob Rothschild, has strong contacts in the mining sector, including Oleg Deripaska, chief executive and founder of Rusal, the Russian aluminium-maker. Their friendship was highlighted in the summer of 2008 when George Osborne, now chancellor of the exchequer, revealed details of a party he attended in Corfu, hosted by Mr Rothschild and also attended by Mr Deripaska.

  38. Ken O’Keefe–US marine makes good

    http://jewssansfrontieres.blogspot.com/2010/06/marine-resistance.html

    don’t miss part 3

  39. K, I lied. One more pic:

    http://twitpic.com/2083g4

  40. Youri Carma

    Coke boycot realy took off

    Coke sees ‘phenomenal’ result from Twitter ads by Tim Bradshaw in Cannes, 25 June 2010, (The Financial Times)

  41. Youri Carma

    Internet pornography to get its own red light district as .xxx name approved http://www.guardian.co.uk/technology/2010/jun/25/internet-pornography-companies-xxx-domain

  42. @ F Beard

    Let me suggest a more realistic plan for reforming the monetary system:

    First, Obama should verify his command of Delta Force, and the Seals. If that proves tenable, then he should immediately order them to storm, secure and evacuate CIA HQ and the Federal Reserve Bank. All key personel to be arrested and sent to solitary confinement at Leavenworth or, perhaps, the Colorado Supermax.

    At the same time, raids should be conducted to arrest the entire Fed Governors Board, and key officials of all of the Feds shareholder banks. (Inside the US and on foriegn territory)

    Then once these people have been placed incommunicado and their Habeas Corpus rights have been properly suspended for reasons of National Security, we should be able to relax a little and sit down and discuss monetary policy.

  43. no, it’s not cool to do the program stoned

    it’s insulting to the listener

  44. Then once these people have been placed incommunicado and their Habeas Corpus rights have been properly suspended for reasons of National Security, we should be able to relax a little and sit down and discuss monetary policy. Tony

    ‘ “I say to you, My friends, do not be afraid of those who kill the body and after that have no more that they can do.

    “But I will warn you whom to fear: fear the One who, after He has killed, has authority to cast into hell; yes, I tell you, fear Him!

    “Are not five sparrows sold for two cents? Yet not one of them is forgotten before God.

    “Indeed, the very hairs of your head are all numbered. Do not fear; you are more valuable than many sparrows. “

    Luke 12:4-7 (New American Standard Bible) from http://www.biblegateway.com/passage/?search=Luke%2012:4-7&version=NASB

  45. @Breasal

    Don’t be such a stick in mud. Besides it might be an excellent opportunity gather new intelligence on the hosts.

  46. Hedging Millionaires Spend More on Jets, Art, Bling, Give Less to Charity http://noir.bloomberg.com/apps/news?pid=20603037&sid=aZVaOUO6EZnQ

  47. Strippers filing claims on #BP 4 lost wages. OK. But good example of how claims are not fixed but expand 2 level of $$ available. BP broke

  48. Bloomberg – ‘Casino’ Must Go On http://noir.bloomberg.com/apps/news?pid=20601010&sid=akMcEGtbDcXs

    Webster Tarpley: Financial reform is a failure http://www.youtube.com/watch?v=0FgN4sZhOI4

  49. MirrorMirror

    Renaissance 2.0: Lesson 6 (part 3 of 3) – Brightening the Future

    http://www.youtube.com/watch?v=sv3M2gCynLw

  50. For the ones who missed it:

    States of Crisis for 46 Governments Facing Greek-Style Deficits http://noir.bloomberg.com/apps/news?pid=20601109&sid=atxrhPqbty_4

  51. Overwhelming security, logistical, cost concerns for G-20 http://www.marketwatch.com/story/overwhelming-security-and-cost-concerns-for-g-20-2010-06-25

    The huge cost of the summit has some Canadians calling it a boondoggle. Parliamentary Budget Office report says the two gatherings will cost taxpayers C$930 million in security costs.

  52. BAD News for IPhone4 users.

    I’ve had my EVO 4G so far for only a week. I haven’t used the wifi or tethering options, haven’t used the GPS, and haven’t downloaded really anything. I’ve only surfed the web, listened to streaming audio and watched some YT videos and a small amount Sprint TV.

    And I’ve already used up 1.8G of data transfer! There are going to be some tears flowing from IPhone4 users in another month.

    Get unlimited data transfer while you still can.

  53. Senator Dodd Says it All ..Chris Dodd, in a moment of candor he’ll likely want back, said this about financial reform.

    http://theeprovocateur.blogspot.com/2010/06/senator-dodd-says-it-all.html

  54. G-8 leaders issue statement saying they ‘deplored’ deadly March attack on South Korea ship, blame North Korea for ‘egregious’ violation

  55. Never Ghana make you cry, never Ghana say goodbye, never Ghana tell a lie and hurt you.

    Congrats to Ghana

  56. no, it’s not cool to do the program stoned

    it’s insulting to the listener Breasal

    No, it is not. These are times that would drive anyone to drink, especially someone who understands the markets as well as Max does. We love you Max and as for Stacy, who couldn’t?

    And besides, I’m not sure Max even drinks. This times are enough to make anyone loopy.

  57. IPhone4 users are going to get crushed by data charges.

    I predict a big drop off in sales after the initial rush.

  58. Austerity or QE: the two sides of the same coin: it is about management of the consequence of the ways things are running.
    WRONG: focussing on the consequence
    RIGHT: trying to understand how things emerged from the existing powers at play and deal with the CAUSE.
    Well, let’s brighten up: we all now that the main culprits: the (central) banks, the large corporations and the military complex are very eager to change the system they build to a new decentralized society.
    Of course all these words are lost at this wonderful forum as it is preaching to the believers. FUCK IT!! Even the professors of what is perceived as the Mecca of economic teaching in the Netherlands from “Nyenrode” all get it wrong and write nonsense. They get of course paid by the media to write about their unique insights. I want to puke

  59. Webbot Clif High predicted the oil spill by his webbot system picking up on human emotion in language – Believe it or not but he nailed it. Listen to the first clip interview by Rense with Clif High: 6/24/10 P-1 Webbot Clif High on Rense Radio http://www.youtube.com/watch?v=-XD0z-de2i4

    If you liked it you can find the rest of the links here http://forum.prisonplanet.com/index.php?topic=176731.0

  60. Transhumanism Special with guest Tom Horn – Good discussion on Transhumanism.

    59:49 – http://video.google.com/videoplay?docid=-537724168971196196#

  61. Lunar eclipse – Your pictures http://news.bbc.co.uk/2/hi/10425234.stm

  62. @ MirrorMirror

    Thanks for the heads-up on Renaissance part 3

  63. Learn about how miserable modern people are striving to succeed, and why:

    http://www.youtube.com/watch?v=CERfoDIU2Yw

  64. california doctor

    Message to that FnSnoot -
    Someone here says you’re in Flaw-ih-dah.
    Leave your plants out for those early rain bands from the hurricane.
    You can test out the oil rain theory and use your house plants as the test subjects.

  65. In other COT news, gold fans will be happy to know that the number of commercial gross and net short positions in the precious metal has hit a new all time record of 475,678 gross and 288.916 net shorts. It is getting increasingly more expensive to the commercial players to preserve the price of gold at current levels, even with unlimited paper shorting capacity. As ETF’s such as GLD accumulate increasingly more (hopefully real) gold inventory (yesterday’s record number of 1,316 tonnes in GLD has not be updated for today yet), it will, in turn, become increasingly more difficult to push down gold price even as all the big players try to gold paper gold down. http://www.zerohedge.com/article/eur-shorts-return-commercial-gold-net-short-positions-hit-all-time-record

  66. China continues to encourage its workers to strike for higher wages against foreign owned manufacturing. Couple that with a rising Yuan and a great tidal wave of inflation is headed West.

    http://www.marketwatch.com/story/chinas-yuan-ends-at-fresh-high-against-dollar-2010-06-25-91200?dist=beforebell

    Sorry, Max, you and Mish are just out of the loop.

  67. When the Yuan is uncoupled from the Dollar inexpensive trinkets will metamorphis into over-priced crap.

  68. frances snoot

    @cali-doc-rocks:

    Yo. There is no hurricane. There is a tropical storm. And we don’t need plants in planters as we live in Floriduh where plants liked to be unbound and wave freely to the passing rain-clouds.

    But thanks for that friendly tip. Would it work if I just put out some vinegared-romaine lettuce? Or is it ‘not-that-kinda-oil’?

  69. frances snoot

    In case your interested, doc-ster, here’s some of our flora:

    http://www.virtualherbarium.org/lf/

  70. @Tony

    I agree with you altough Mish talks about this article didn’t here it from Max and Stace

    States of Crisis for 46 Governments Facing Greek-Style Deficits http://globaleconomicanalysis.blogspot.com/2010/06/state-governments-face-greek-style.html

    Here Hugh Hendry on China http://www.youtube.com/watch?v=BUq2ZBioGKU

    “Asian currencies have been revalud 20% via vie the Euro and wages in Europe are falling and wages in China re now going up so the noose is getting tighter and tighter not in Europe but I would argue in Asia.”

  71. @F. Beard – wow, um, eh? haven’t been stoned since high school and haven’t got drunk since I lived in London; do have the vice of overdosing on coffee one too many times per week but hey, it’s Paris

    @MirrorMirror – well, all hurricanes / tropical storms look big . . . but it is rather unbelievable that it is forming so early and so close to the Deepwater Horizon

    @dan valley – is BP paying the stripper claims? I suppose if the fishermen aren’t fishing and the rig workers aren’t rigging then they don’t have money to go to the strip clubs . . . thus the strippers have lost earnings

    @Youri – thanks for the link to the gold story . . .

  72. Correction: “vis-a-vie the euro”

  73. frances snoot

    Uh-ten-shun to Doc frum Califurnya:

    Heh, Dr. Doctor. I am sufferin’ frum sir-riyusus. It do itch like a son-of-a-b*tch. scuse me Mizz Stacy. Can y’all recum-mend somethang fur a cure? I tried what Ma done gave me, but it don’t wurk. She makes up hur own remedees frum stuff in our’n pasture and such.

    I think y’all is sure-do smart. I got a tarp strung over this’n hair trailah in case that oil rain to come a dancin’. Steller is a’snortin’ over hair laughin’ bout it.

    Should I knock her upsidy-the head?

    Cleetus with my CFA prowd-n-American to boot.

  74. and that’s why it’s called the snoot. hahaha. take note. worry.

  75. frances snoot

    I aint’a laughin’ Cleetus. This be hysterics.

  76. frances snoot

    If’n y’all been takin’ notes, RawnRawn, how come-its not a silva-backed yuan like yerself did say it wood-be?

  77. @Cleetus – you playing around on snoot’s computer again?

  78. frances snoot

    Cuz I done bought me some silva ansy-like a’waitin’ fur them China-men to make the price shoot to the moon. And it ain’t done took off yet.

    Been waitin.

    (this be Billy-Bob in-case yur takin’ note, RawnRawn)

  79. frances snoot

    I aint’a playin’, Mizz. Stacy. Now that I be a CFA, I’m a learnin’! Gonna make myself somebuddy like y’all do be, iff’n I get’z the luck rubbin’ my way.

    And do be no room since’t Billy-Bob do be a’breathin’ down my neck. Shoo, Billy-Bob. Mizz Stacy ain’t tawlkin’ to y’all.

  80. Youri Carma

    @stacyherbert

    TnX but somebody still has to explain to me why they couldn’t go on with the gold manipulation? Zero Hedge argues cause of costs but what are these costs exactly for those paper, “lease”/”derivative” I believe, manipulation instruments?

    Why wasn’t there a run on the Comex? I think cause most parties like JP Morgan are into this sceme together with the central banks but I am not sure.

    btw I don’t believe that ETF’s such as GLD accumulate increasingly real gold – it’s all fake paper balances.

    Most of the gold on Central banks balance sheet is fake the central banksters even admitted that.

  81. hahaha. caught red handed talkin to rawnrawn.

  82. frances snoot

    Where air that doctor be hidin’? Ain’t lasty like my sir-riyusus. Nope. Like a little-ole raincloud. *Poof- an-he-aint-a-round no more.

  83. @Snoot. funny. the chinese have been on the silver standard all along. you been out of town?

  84. @Youri

    You can’t over manipulate the paper or the COMEX will default. – The price has to be allowed to rise when too many buyers begin taking physical delivery.

    Otherwise, “The jig is up!” (-Groucho Marx)

  85. frances snoot

    MizzStacy:
    Ma sayz don’t y’all drink too much of that Pareeshun coffee. She say to mix some chicoree in it else’n y’all get the rickets.

  86. frances snoot

    Oh, ronron. I thought their central bank was hooky-upsy with those sdr-thingys.

    My bad.

  87. jim rickets? jiminy crickets?

  88. @Youri – the costs are for covering the shorts; they are having to buy it back at a much higher cost than what you borrowed it at (and usually on margin) as prices continue to rise

    @billybob or @cleetus (I never can tell the two of you apart) putting chicory in my coffee will keep me from getting rickets? I thought that was a childhood thing for lack of sunlight . . . I think I will have to do some research

  89. Oops, I mis-quoted:

    “Groucho, the jig is up,” is actually the phase used by his financial advisor when the Florida rea lestate market crashed back in the 20s.

  90. well snoot they haven’t got all in town yet. population?

  91. anybody got some modern chinese coins?

  92. @Stacy

    With all due respect, I don’t think money’s really an issue for people that simply print it.

  93. frances snoot

    Here’y'all go, MizzStacy. Ma found thisn’hair link a-pushin’ the buttons on this’n hair keyboard. IT DO WORK WAHL. OH, DANG-NABBIT.

    http://www.cafedumonde.com/coffee.html

  94. Youri Carma

    @Tony

    I hear this story since 2008

    Comex Gold and Silver Markets Hurtling Towards Default 30 October 2008 http://www.marketoracle.co.uk/Article7059.html

    yet nobody seems to take physical delivery, why Not? It’s far better to have real gold in possession now. That tells me there’s something wrong in the state of Denmark.

  95. frances snoot

    That air chicoree-coffee do go down wahl with some grits and side meat. I do mean, y’all gotta have some.

  96. frances snoot

    Ahh, RonRon. I China-Man. I have coins but not to share with you. They are silva. Much silva for pay my way out of workee-in-laundree. Ha Ha!

  97. either Max was really tired or watching a film on his laptop whilst recording the show or he really was off his tits on something as the slurring and the prodding by Stacey was very prominent so half way through I had to stop listening

    when is the tsunami coming as all everyone is going on about is when it might happen , I kind of wish the storm would happen now or else blow out so we can hook up to the matrix again :)

  98. wonder if stacy will be mad when i put the max guitar on ebay?

  99. frances snoot

    MizzStacy:

    Cleetus be the one who looks like a coon hit tween the eyes with an ugly stick.

  100. yet nobody seems to take physical delivery, why Not?

    If no one was taking delivery the price would still be sub $1000. When the price gets too low buyers have pounced, so its allowed to rise to a point where the COMEX & LBM can continue to make deliveries. Thus $1250 gold and rising. They can’t manipulate the price if they run out of physical, so they have to grudgingly give in to the buyers on occasion.

    But make no mistake, the is COMPLETELY managed. There is no such thing as free in the Gold market. At least not yet.

  101. Ray in Vancouver

    @Tony; China

    They can pay the Chinese workers more, but it may not send inflation to the U.S.A. Americans can’t afford to buy, so yes they can increase the prices, but fewer and fewer can afford to buy anything. 40,000,000 are getting food stamps, (22% higher than a year ago) unlikely buyers of big screen TV’s when they can’t even feed themselves.

    The trend to quantitative easing is switching over to cut backs and higher taxes. Not happening in the USA quite yet, but Europe and the U.K are already doing it. Will it force Obamas hand? Will he have to mimic the other countries or will his currency turn into a bigger pile of poop?

    All of this is hardly conducive to higher spending on junk that lasts a year coming from China.

    China better get its internal market stronger, hell they have the population and they certainly have the cash. They don’t need America, except as a food source. The USA is becoming a minor market compared to the potential buyers in China and India. Thank you Wall Street for screwing up the Western world, did you notice those unproductive bastards got he quantitative easing first?

    The Romanoff’s, clueless, the aristocracy of France, clueless, the final Roman emperors clueless, Hitler, clueless, the current crop of fascists, clueless. They screw up by pumping money into corrupted banks and then raise fees and taxes, yeah that will work, they can always be trusted to do exactly the wrong thing. It may be a natural cycle, we live in interesting times.

    Max and Stacy the show was a little wonky at the beginning maybe you are taking too much on?

  102. @Youri

    You might want to also look up how the physical market dried up during the price crash of 2008. They nearly did blow it up. While Mish was calling for $400 gold, sane people were buying with both hands.

    Since then they’ve managed it, which is the best they’ve been able to accomplish.

  103. @Snoot. if you get time, load up, up the yangtze. nice vid.

  104. @Ray

    Well, there’s nothing like doubling your worker’s wages with a rising currency to build your internal markets. (And encouraging them to buy gold)

    The US & Canada will have no choice but to pay the higher prices (when possible) until they begin to make ‘things’ again.

  105. Youri Carma

    Most participants do not take delivery from futures contracts. Rather they tend to roll positions they want to hold into farther forward contracts.

    From: CME to change Comex gold, silver settlement procedure (Gata) February 22, 2010 http://www.gata.org/node/8387

  106. Youri Carma

    Adrian Douglas: Is discovering the gold fraud worse than the fraud itself? http://www.gata.org/node/8769

  107. @Youri

    Yes, but that’s also a function of price and with it, perceived stability. Drop the price to $400, and a whole lot of those contracts will not roll over. Certainly not in this economic enviroment. Serious investors will grab those bars while the gettin’s good.

  108. Youri Carma

    Can’t believe this.

    Here’s a guy Adrian Douglas who is publisher of the Market Force Analysis letter. Still he tought that Quote: “While some of the wilder theories are almost certainly wide of the mark, suggesting that the banks are trading far more gold than they hold title to …”

    Here you have me publishing no letter at all and I know for a fact that Central banks do this cause they say so themselves. Rickards said righfully so, I paraphrase: ” “For us it’s gold mainpulation but for the central bankers it’s simply policy” btw I have said this long before Rickards.

    Nout Wellink always said to his colleagues “there are two things a central bank can lie about – gold and interest rates”

    Still I here people in the financial circuit, who take themselves very serieusly, say: ” I don’t believe gold is being manipulated”. My mother always said ” You believe when you’re in a Church but here we check our facts for real”

  109. Youri Carma

    Greenspan in 1998, before Congress: ‘central banks stand ready to lease gold in increasing quantities, should its price rise’. http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm

    William S. White June stipulated in 2005 ( head of the Monetary and Economic Department of the Bank of International Settlements in Basel ):

    ‘one of the five main purposes of central bank cooperation is the provision of international credits and joint efforts to influence asset prices

    – especially gold and foreign exchange – in circumstances where this might be thoughtful’.

    Australian Central Bank 2003: ‘foreign currency reserves and gold are held primarily to support intervention in the foreign exchange markets’!

  110. Youri Carma

    Crisis In Romania: Constitutional Court Votes Pension Cuts Unconstitutional, IMF Loan In Jeopardy, Presidential Palace Stormed, CDS Blows Out http://www.zerohedge.com/article/crisis-romania-constitutional-court-votes-pension-cuts-unconstitutional-imf-loan-jeopardy-pr

  111. RE: Farrell story

    Good stuff, but I noticed one glaring error by the reviewed book’s author. He states that free market capitalism is destroying the world. (in essence) But it’s not free market capitalism it’s corporatism that endagers the planet. Corporations shield their owners from personal responsibility for their actions, remove the shield and capitalism make a major change for the better overnight.

    Think Tony Hayward would deep water drill in the Gulf if he risked his personal fortune and freedom in the process? Not unless he was DAMN sure nothing would go wrong.

  112. @ Tony – It’s not just iphone 4 users who are gonna get crushed with fees . . . eventually, it’s gonna be all Apple smartphone users. (And iPad users.) My husband chatted with an AT&T helpdesk guy a few nights ago on IM. They are going to subject all of their customers to the new fees and plans. If you go a gig over, it’s gonna cost an additional $10. And just about everything counts as data, so it’ll be easy to go a few gigs over. The iphone4 has two cameras, right? So people can actually do video chats? I’m sure that new feature will help jack up a bunch of fees for all of that data transfer. I’ll be ditching my phone as soon as our contract is up. It’s ridiculous to me that you can’t even purchase a new battery for these freaking phones and change them yourself. Used to be that you’d have to send them off to corporate headquarters to be replaced, but they don’t even do that anymore . . . they make you get a new freaking phone and just transfer all of the data from your smartcard over to the new phone. IMO, if you can’t open it, you don’t own it.

  113. @Mep

    Ouch, I didn’t even know about the battery thing. I was just glad to be able to get the unlimited data still with the Evo. It doesn’t look like anyone will be offering that for much longer. –Especially since the kids all just hack the phones for free tethering.

    I think the phone companies are worried that people will just dump their home services altogether as speeds increase.

  114. Things heat up in Toronto

    Commentator “Mindless bandits” etc. etc

    http://watch.bnn.ca/#clip318848

  115. E = MCC or MCsquared Prrove it Practically ????
    WTF lets tell the masses
    ” But the amount of energy in 30 grams of hydrogen atoms is equivalent to burning hundreds of thousands of gallons of gasoline!”
    How many Fukin hundreds of thousand ?????
    Light travels in WAVES see how it fits tis formula
    no no Light travels in packets see how it fits tis formula
    lolololololol
    All freakin Bullshit
    ROFL
    Hic ;-)

  116. Gold seems to be gettin a strangle hold of Each 10 bucks it rises
    Its like a freakin Mountain climber Mike must be footloosin
    lololol
    Hic ;-)

  117. PPT is gonna werk hard on Moneyday suppressin ta gold

  118. Youri Carma

    This reminds me of a Jewish lady who did a survey on what was the most anti semitic country just before WOII?

    Surprisingly it was not Germany but France!

    Helen Thomas was right!

    Helen Thomas tells Jews to go back to Germany
    http://www.youtube.com/watch?v=RQcQdWBqt14

  119. Youri Carma

    Newest trend Vuvuzela Boozing! http://www.youtube.com/watch?v=dfZK5-gWK88

    These things prove it’s usefulness after all :)

  120. Gang members and neo-Nazis targeted by US Army for recruitment.

    http://www.youtube.com/watch?v=zmNaCaQR9lo&

  121. How to Win the Revolution Peacefully? Make it a Laughing Matter!

    http://www.youtube.com/watch?v=YlLWHACzOb0&feature=player_embedded

  122. Youri Carma

    This is what happens if Germany plays against the Netherlands in Soccer – Völler Rijkaard WM 1990 Originalkommentar! http://www.youtube.com/watch?v=mxiyDiEMDw0

    Yeah, Eveything was better in the past. This one and “The Hand of God” from the little crook Mardonna are Epic. Ja, Ja Früher war alles besser :) Diese und “Hand Gottes” von der kleine Gauner Maradona sind Epic.

    Maradonna seems finaly grown up now. He’s so tranquil now as coach.
    Maradona ziemlich erwachsen endlich als Coach jetzt, ganz Ruhig.

    From a little Dutch friend. Von einer kleinen Niederländischen Freund.

  123. Youri Carma

    Maradona hand of god http://www.youtube.com/watch?v=DbbsytHDp2o

    Diego Maradona discusses ‘Hand of God’ World Cup goal – BBC http://www.youtube.com/watch?v=oB-q_v_gGvY

  124. I’ve got it! We must create a new wildlife death market where each species will be represented by a ticker symbol where anyone can bid up the worth of an individual of that species. Then the greenies can put their money where their mouths are and bid up the worth of a sea turtle or pelican. Then the evil corporations will then have to hedge their kill rate with shares of the species they’re decimating and buy these death shares on the open market. These shares would be limited to the population of each species on earth and would have to be retired as the shares are consumed by corporations who are killing the animals. Then as less shares are available the remaining shares become even more valuable causing the corporations to spend more and more for each individual killed. Brilliant, give me the Nobel for economics and ecology. Oops I forgot about the inevitable DDS (death default swaps) and naked shorting of the death market.
    Never mind

  125. Sunday vid. club: Change Myself. ;-)

  126. Youri Carma

    @pohdinpa

    My approach would be much easier to understand:

    Just throw them in jail and take their money.

  127. Youri Carma

    Criminologist and drug researcher Ton Nabben of the University of Amsterdam: “Zero Tolerance” policy on drugs has failed (google trans from Dutch) http://tinyurl.com/2g9eupc

  128. You Can’t Eat a Collateralized Debt Obligation. Some good socialist analysis on austerity measures and the assault on middle class standards of living.

  129. Hmmmm, I wonder if I’m understanding this right, that the US banks will no longer be able to manipulate gold and silver??? Too good to be true!

    “On proprietary trading, however, the bill gets tough on banks, said Ernest T. Patrikis, a partner at White & Case, by limiting their bets to United States Treasuries, government agency obligations and municipal issues. “Foreign exchange and gold and silver are out,” he said. “This is good for foreign banks if it applies to U.S. banks globally.””

    from Gretchen Morgenson – http://www.nytimes.com/2010/06/27/business/27gret.html?ref=fair_game

  130. Youri Carma

    Disturbing Footage! The US Army Doesn’t Want You To See THIS! http://www.youtube.com/watch?v=LYzJLzTZduk

  131. Youri Carma

    *ALERT! While you watch the Oil Spill: Senate gives Soetoro Internet Kill Switch http://www.executivegov.com/2010/06/dhs-proposes-cybersecurity-bill-to-grant-president-emergency-powers/

  132. You two get on the turps last night or something ? Sounds like the Sunday morning A.A. meeting.

  133. ….Americans don’t get drunk, we get JETLAG !

  134. There’s only one SupaFly sucka!
    http://www.youtube.com/watch?v=-cmo6MRYf5g&feature=related

    btw, was Max loaded during that show?

  135. California Doctor

    For F.Snott-
    http://www.youtube.com/watch?v=_f2-omH9_Hg&feature=related

    All your bases is belong to us.

  136. Rick McCartie

    Alex sounds drunk

  137. Rick McCartie

    Max sounds drunk

  138. Youri Carma

    Webster Tarpley’s World Crisis Radio: http://tarpley.net/world-crisis-radio/ can download June 26, 2010 MP3 from page

  139. MirrorMirror

    @Youri … Disturbing Footage! The US Army Doesn’t Want You To See THIS!

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

    Yes … it is highly disturbing … and informative .
    Looks more and more like the Star Wars “Evil Empire” every day.
    And to think that 5 people gave it a negative appraisal.

  140. California Doctor

    @NorCalKid –
    That posting is logical, but also old story for those who study wars.
    The wars are usually about those factors, but this time around the stakes are much higher than usual due to the population size and the moral issues involved.

    Somehow, i doubt that the people at the big banks really give a rats ass about the peons and peasants who are stuck in the rat race. To their pathological mind, we are mere cells in their global spreadsheet.

  141. Youri Carma

    @zaphodity

    The Americans I ever met were all very very tired. Once I tought have found a fit one but he turned out to be Canadian. LOL

  142. I attempted to get a little drunk; it didn’t work out. Just a little buzzed and tired. Bummer.

    Have y’all heard about the undocumented farm workers in the US offering to train unemployed US citizens to take their jobs? I think it’s hilarious, and is a great way to try to make the debate about immigration reform and jobs a more honest one.

    Here’s their website: http://www.takeourjobs.org/

  143. TILT, British Petroleum spill causes health problems like food intolerance that ‘Stay with them’ http://www.youtube.com/watch?v=Q4bDW12Fr78

  144. @ CalDoc – Hence, quoting from the socialist propaganda I linked to earlier:

    Finally, plausible but superficial explanations of the crisis also serve ruling class interests by concealing how capitalist exploitation necessarily leads to economic breakdowns like that of 2007-2009, when the capitalist system cannot even maintain working class living standards. As the Communist Manifesto put it, the ruling class “is unfit to rule” because it cannot even guarantee the survival of the wage slaves it exploits.

    Profits are only restored through a crisis when large numbers of people are thrown out of work as production is “rationalized,” productive resources lie idle, and working class living standards are slashed by employers and governments.

    You can’t even let cells on a spreadsheet wither to death and hope to keep squeezing more blood/energy/production/money from them, can ya? Pathological is right . . . though I think sociopathical is more like it, since it’s a harsher definition of bat-shit-crazy.

  145. California Doctor

    @MEP-
    Pathology includes both sociopathy and psychopathy.
    One is pathological towards society. The other is pathological towards another human being.
    In this case, these people are so greedy that they would willingly massacre their own family and children in favor of adding more money for themselves. This is why we as citizens should not sit by as the the “two-party” system continues to foist the banking hegemony.

  146. MirrorMirror

    Steven Seagal sets it straight on BP Oil Spill

    http://www.youtube.com/watch?v=xn0y1saPrn0

    Good speech , from the film “On Deadly Ground” .

    Well worth listening … almost exact prediction with facts.

  147. @Mep

    A little drink is a dangerous thing..

  148. Virtual Currency…..food stamps.

  149. California Doctor

    @ME-
    Our bodies function by way of our nutrition.
    Our nutrition is linked to the environment.
    Our environment gets polluted.
    Therefore, our bodies become polluted.
    Is there any doubt as to the existance of this disease?
    Only in the mind of a physician who is poorly trained, has no backbone to call it as he sees it, and has not one care for his patient or their family.

  150. Youri Carma

    Extreme Alert from Steve Quayle! http://www.stevequayle.com/index1.html

  151. @MirrorMirror

    Stephen Segal takes on the evil BP CEO’s

    http://www.youtube.com/watch?v=yQKAydHA4J4&feature=related

  152. Youri Carma

    @MirrorMirror

    That Seagal makes a very good point you don’t hear mentioning a lot

    “plankton supplies 60% to 90% of the earths oxygen” even if it’s 50% it’s substantial!

    Source of Half Earth’s Oxygen Gets Little Credit http://news.nationalgeographic.com/news/2004/06/0607_040607_phytoplankton.html

  153. Youri Carma

    Marine phytoplankton supplies our ocean with 90% of the primary production and 50% of Earth’s oxygen http://www.marine-phytoplankton-works.com/

  154. phytoplankton…..that’s what Vegemite is made out of.

  155. California Doctor

    @Youri – that phytoplankton will die under the situation that exists in the Gulf. A total ecosystem collapse is not being discussed by scientists who are largely funded by federal grants.

    The big zones of anoxic water are going to lead to algae blooms which will cause a kill of aquatic life in those plumes.

    More importantly, any larger fish that run through these zones will pick up the toxins. I am not interested in eating any fish from the Atlantic or Gulf Coast regions.

  156. Well i’m currently unemployed living off the government tit. There are 2 primary ways in which i’m single handedly saving Australia’s economy by doing this.

    1. People who would otherwise be unemployed now have jobs filing and processing my fortnightly check, people who themselves would be unemployed or working in sheltered factories making paper clips.

    2. All the money I spend goes straight back into the economy when I buy aussie made smokes and beer, I am in fact a walking talking stimulus package.

  157. There’s something fishy about this catastrophic oil spill. Where’s all the oil?

  158. Youri Carma

    @zaphodity

    Yeah, full employment is actually harmfull for an economy cause salaries will go up, every economical scientist will tell you that. You need a certain amount of unemployment to keep the salaries down.

  159. Youri Carma

    @Tony

    Good question.

    They use Corexit 9500 dispenser which makes the oil float just under the sea level. That’s why BP is using it while it’s toxic stuff, to hide it.

  160. MirrorMirror

    Karl Denninger –> fedup-original-edited.mp4

    http://www.youtube.com/watch?v=vleKZRsUT7E

    FWIW

  161. Every Tuesday I dine out on whatever I can mop up with a soaker sponge from the floor near used cooking oil bins behind McDonalds..Sometimes i’ll managed to fight free a half mangled pickle sandwhich from the army of stray dogs that congregate around the old peoples home during their crematorium runs on Sunday…I meek out a meger living near the airport…somewhere that smells like poo !

  162. MirrorMirror

    @zaphodity

    I wondered when there’ll be “Begging” websites on the Internet !
    Seems you may have started a new trend.
    ;-)

  163. …Lol..Actually all things considered i’m quite financially stable to a certain degree. I have no complaints.

  164. …The smell of DEATH always attracts the “lesser animals”.

  165. MirrorMirror

    WARstreet Financed !

    Fall of Berlin: Stopping the Nazi heart

    The battle for Berlin lasted for two weeks. Three and a half million troops from both sides, Soviet and German, took part in the fight. Some ten thousand tanks, thousands of artillery, and eleven thousand aircraft were involved in the fight. There was no other operation of that scale in World War II, and it was won by the Russians. The Red Flag was risen atop of the Reichstag in May, 1945, and it became the symbol of victory over fascism.

    http://www.youtube.com/watch?v=wjD6Lxiu6q4

  166. Lesser animals being rats, vultures, sharks…The Donner Party…Puritans with REALLY shitty table manners….”Table of 5 for The Donner Party” !

  167. …Make a great celebrity chef reality show I spose.

    Laters YOW-L

  168. Hmmm… Corexit 9500. Does anybody have any hands on experience with this stuff?

  169. Oh well, “Doctor Who: The Stones of Blood” Part 1

    http://www.youtube.com/watch?v=fwn8pqpYqEU

    I’ve got to get back to it.

  170. Cal Doc,….Re: Psychopath v Sociopath

    My understanding, was/is, that a psychopath is born with the disorder to the psyche,…the latter, being the nurtured disorder ? ! ,..i.e,..learned behavior.
    Refer to “Political Ponerology” , by Andrew M. Lobaczewski

  171. Youri Carma

    Open Racism
    http://www.youtube.com/watch?v=xn0y1saPrn0

    Yeah, he’s right, hidd’n racism is even more dangerous.

    If it’s open it’s not good but at least you know what they’re thinking and maybe give some relief to get normal.

  172. Youri Carma

    @zaphodity

    “lesser animals”

    Banksters cause they sell your body before and after your dead and sell you coffin just before.

  173. Maintain the purchasing power of the money you stole!!

    That sums up the push for austerity very well.

  174. I don’t care if Max has a hangover, actually that’s cool, just have him drink the hair of the dog that bit him about 10 minutes before the show. He’ll feel better and the show will go better. SupaFly is acceptable (Although “Sorrow” by Pink Floyd would have been better), but better not let Max DJ. Also we need to know if Mini-Max comes with a bow tie.

  175. What do Trlateral commission, Bilderberg Group, Rockefeilers have in common? http://www.youtube.com/watch?v=LtmMHlWvHEw

  176. Great show, very funny and informative. TOB USA why no posts.

    Austerity, I’d wish they fuck off with their austerity, where’s there austerity, cunts.

    And what’d we do without the rule of 72, a right little nugget.

    America a soulless place, unfortunately yes, but it is only a mircrocosm of the truth.