Stacy Summary: Max Keiser: ‘US financial elite destroy the dollar’
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ref. max keiser – Get 6 mo’s free storage
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Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
fiat money and the french revolution
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crash banksters – Buy Silver & gold
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- A Lightning War for Liberty
And destroys people. Not just a currency you have to add.
Matt Simmions has conveniently died (convenient for BP that is)
http://www.zerohedge.com/article/matt-simmons-has-died-heart-attack
May have actuallybeen due to drowning. There are conflicting reports
Ther destruction of this myth the American dollar will be a good thing for the environment, for the USA and for the rest of the world. Slaw the sacred cow. I really think USA must be runned in the ground dollar wise. It must. It’s about the only way you will get rid of all the parasites and scum in Washington and New-York. Destruction of the currency will cleanse USA of all its degenerate elites polluting the banking, the military and the never forget the estrablished media.
well I don’t know why people alway compare thing with WW2. SO stupid that people do that.
Careful, careful, Max. Calling Barry Soetoro an Uncle Tom isn’t likely to over too well with your HuffPo pals…
Rick Ackerman confirms that the vast majority of deflationistas are simply upper middle class snots upset about the depreciation of their vastly over-priced cardboard McMansions:
“Perhaps those who remain skeptical of deflation’s power are renters who have not experienced the pain of having their mortgaged home decrease in value by 30 percent or more, as has occurred throughout the US.”
http://news.goldseek.com/RickAckerman/1281360418.php
Clearly, it’s the deflationists who are delusional.
The tell …..
Krugman switches to deflation… it is cover for reflationary Fed policy. He is the Feds propaganda front man.
A falling US dollar is inflationary, in deflation cash gains purchasing power, can’t have it both ways. Inflationary pressures can build up unnoticed then wham, wha happen…
Rick Ackerman needs to ask himself this deep and penetrating question, the correct answer to which will bring him into the light:
How much additional time, material and effort really goes into building a 3 car garage as opposed to a 2 car garage?
A: A million dollars worth.
B: Not really all that much.
they could have at least spelled keiser correctly. sigh
@tony
3 car vs 2 car garage
1.5% of total construction cost (not land). When we built…
@ WL
not picking a fight here…just my own comments…think you are right about Krugman’s role as a velvet glove party hack (good cop to the austerity measure bad cops) and I do believe the FED is going to have to ease more (even if that is possible) but I don’t see this spurring inflation….there has to be demand for there to be commercy….one could print boat loads of money and throw them at the people and if they go line their walls with it….there is no inflation
always was suspicious that the call for Austerity and budget constraints was a way for the top percent to retain the purchasing power of all the wealth they just made off with
I don’t see inflation or hyper inflation…or stagnation…I see a flatline as far as the eye can see….but I may be wrong several of my friends are out there buying new cars and homes as I lose mine….so I may be biased from my own personal finances
there is a price to be paid for all the liquidity the FED has dumped into this giant sink hole…but I don’t know what that is….they may be planning for an increase in instability in the gulf region raising the price of crude therefore creating a backdoor market for America’s debt as Europe, China and Japan have to buy in dollars for the time being and the gulf states have to park those dollars some where
I don’t know but I don’t see massive inflation just the normal easing up of basic goods brought on by increases in fuel prices
hey nikc, waht a pickneat yuo ar. Atlist tehy wrtie abuot thsi unlkie NT CNN ……..ect.
“Millions are at risk of dying! That’s the bottom line. And the top one percent in America does not care. ”
Thank you for saying that. I’ve been thinking the same thing for a very long time!
@chArles
I agree with you if you define inflation as its symptoms. 99.9% of the inflation/deflation debate can be solved by agreeing on the definition.
If the Fed massively reflates (as I expect) and there is no or insufficient demand, we will get hyperinflation. Money will become worthless and people will scramble to get rid of it. If money loses value, the prices rise not driven by demand but in nominal $$$ terms. Result is rising prices based on oversupply of $$$s.
Problem, define money, then figure out money supply. This is subjective.
So, forget that, next step, what will the Fed do? What they always do. Cause inflation, that is their existence. It benefits the Banks and the Government and without any backing for the money they have no restraint. So, If natural forces are left, we should have deflation, but the Fed will fight it with everything they have, it is their purpose.
Read Scorpion and the Frog
http://allaboutfrogs.org/stories/scorpion.html
If the the US $$ is akin to the Madoff ponzi scheme, what happened to the Madoff fund when he could not bring in anymore investors? The fund collapsed. The same is true for the US $, as it becomes exposed as a failed ponzi, people will flee for alternatives (GOLD etc), however, the powers will try and force the use of the $$$, but that will signal the end.
Look for currency exchange and capital controls as a sign of desperation…
@WL
I usually read and learn from you comments. But I think you are forgetting something, Madoff did not have army and nukes and missiles and ……..
If the Fed massively reflates (as I expect)
I agree with this statement…the FED has been on this course along with the adminstration to desperately re-inflate…BUT IT HAS FAILED….America is stuck on Bubble economics and that is all it can think to do currently
” and there is no or insufficient demand, we will get hyperinflation.”
A) has happened B) has yet to materialize…doesn’t mean it shan’t but I am doubtful
the world is awashed in dollars…has always been awashed in Dollars that explains to a “MINOR” repeat minor degree some of the recent collapse by creating a need for all these debt instruments (CDO and so forth)…dollar Hegemony has been quite succeful heading this off…and I believe America will run the Petro shuffle again (creating a market for all this excess dollars via US Debt instruments)…one day just like the Empire the Dollars will come home and then collapse/hyper inflation and so forth when will this happen unsure of
The dollar was at 1.51 18 months ago against the Euro.
its 1.32 now
Just saying.
@mae’s fanny
You are right. it is a limited comparison. Madoff kept it going as long as he did through his influence at the SEC. The US $ is forced upon the world through coercion, but, the ability to fund the military is waning. Who is funding the US military… the purchasers of US treasuries. When they (China incl) stop buying rates rise and the US debt explodes, debt servicing sucks up more of the GDP and the US military is compromised. Empires fail by overstretched military… IMO, the US military and global influence has peaked. For the US, its future is now dictated by its debt purchasers. IMO, a serious inflection point.
As the funding wanes, coercion becomes more tyrannical, a clear indication of the end.
The only way out, massive reflation or world war. Both are a Hail Mary.
@WL
I agree, except there is one other way this may go.
which, I think, they are trying to agree upon the terms and that is global government. and leveling of the living standard for, well nuclear countries, hence “Iran problem” . The rest will receive USAID vaccine
@chArles
How to define failure by the Fed…. This is completely a subjective construct. Absolutism… You won’t notice hyperinflation until it is already here… like a geyser, pressure builds until it blows, to claim that it hasn’t blown yet means it has failed is false
A fireman arrives a fire and pours water on it, slows it down and saves part of the structure and neighbouring homes, has he failed or succeeded?
Another fireman shows up with more water now the fire shrinks,, fire is not out yet… failed or succeeded
Point is the Fed has unlimited powers, you cannot define success and failure at a given point in time. In the 30′s the revaluation of gold instantly caused massive inflation, to fight deflation.
The Fed will increase its “reflation” policy until it wins… period. A process. Don’t count them out so early. They will turn up the dial on reflation but it will be well camouflaged…. these things come fast when it happens, could be 4 weeks or four years..
As an aside, we have seen no sign of “deflation” defined as a general price decline in cost of living. Conversely, our cost of living has generally risen.
@mae’s fanny
Yes, the herding cats strategy, might work short term but inequities emerge causing conflict and coalition destruction…..
There is no easy way out, just try and anticipate those in power and protect yourself as best you can.. it is always the little guy that pays the price
My wifes grandfather owned a farm in the Ukraine, the Russians came through asked for his horses and land to be used for the war, he refused as it was all he had, they left, returned the next day took everything. He was taken away never seen or heard from again.
@ “IMO, the US military and global influence has peaked.” uhmm yes but once you reached total saturation what more can you get? I mean America is in Russia’s China’s India’s and Japan’s backyard tearing up everything without as much as a “Bad Doggie” from them
yes if the BRIC economies could get their collective act together they could offer a severe challenge to America’s hegemony…but their Achilias heal has always been resource aquisition and internal stability….America is clamping down/destabilizing their resources and if I was a conspiracy nut the article on Russia’s Herion problem I would argue that they are working on exasperating the internal instability
America’s Achilias heal has always been its Democratic institutions and domestic population…I think they have cornered/corraled these problems
@ The only way out, massive reflation or world war. Both are a Hail Mary
I think reinflation is IMPOSSIBLE…might be wrong there
as to a massive conflict…I don’t think this is needed…I believe “they”(dominant American economic/social/political elite) only need to nudge crude oil up to around 115$ a barrel…to cause Europe to tumble into either depression or severe economic malaise and stop China’s engine and therefore force the social strife that country is headed for when upward mobility comes to a stop…and this helps finance our Debt package which should garner America another 10-20 years
The cost to the average American will be a destruction of its middle class lifestyle…but the elites can shift the blame and ride out this rollback as political pressure is funneled to outsiders and internal scapegoats
this is the Kick the Can down the Road strat
question for the group…would 115 a barrel be enough? or is this feasible?
@WL
Again I agree, the problem is that these fcukers(be it russian american …..) think only in short term (max 30 yrs) where as sustainable plans do not have “max”.
Anyways lets hope for the best. And go down standing on your feet against who caused this not a fictitious enemy.
@chArles
Oil rises, dollar devalues, What has the price of oil done in Gold terms? One of the most enlightening things I have done is to use gold as a baseline rather than fiat, virtually everything is deflating in Gold terms, Why, gold has reemerged as global money with no counter-party debt.
Look at:
Global fiat in gold terms
R/E in gold terms
Dow in gold terms
S&P in gold terms
Oil in gold terms
Snoots in gold terms
Hotel Rooms in gold terms
Anarchist party memberships in gold terms…
Whatever…
As for Russia and China not doing anything..this is the best strategy to encourage the US to overextend their military, completely unsustainable. Empire after empire have been taken down this way.
The most profound thing I have ever read on this site was written by Bonn,,ya I know
I’ll paraphrase
Da peeps ar alwyz beein exployted bye someon
Hic..
not a GOLD bug so it doesn’t set my heart a fluttered and believe that market is just as easy rigged as any other….global transactions will be conducted in Fiat Dollar currency as far as the eye can see and believe that is what the planners of US policy is banking on…
“As for Russia and China not doing anything..this is the best strategy to encourage the US to overextend their military, completely unsustainable”
uhmm agreed with the last sentiment but as to when that is a waaaaays away IMHO……as to Russia and China pursueing a Plan of Baiting Neapolon to out run its resource lines…this Neapolon can do damage to their respective homefronts…America has encircled them and controls their growth potential….eventually forcing both nations to try and breakout…this is a dangerous game the world is playing….how to contain the Eagle and put it back in its cage with minimal lost
@chArles
It is not about being a gold bug. It is about understanding that pricing in US $ creates a baseline bias as it is moving also.
How and who funds the US military? Remember the massive US debt now at record low interest rates,,, what happens when rates rise?
Think about it,, this is the US vulnerability… unsustainable..
How and who funds the US military?
basically the World and until the World stops it
my contention it reigns for a while longer…look at long term Rates…there is absolutely no demand for capitol…America’s machine will grind forward on this free ride for the forseeable future
I know you know I don’t see this as a good thing….it is just what I believe the policy makers are working towards….
“America can’t continue forward without paying the piper” my centetion is no one is gonna force the issue and nibble at the edges which the American Empire will funnel these increased cost down upon its citizens as it always has done
Dollar Hegemony has the world in a box…can it get out YES…but the World has not shown me any signs that it will do what is needed
. “It is about understanding that pricing in US $ creates a baseline bias as it is moving” my point exactly but it is a game America is winning
@chArles
Gold is telling you they are losing…
We are one failed “COOKED” treasury auction away from the abyss…
I do not wish to belabor this point but the movement in gold isn’t that much maybe I am misreading this…Macro at this level isn’t my strongest suit
10-20-30 year Treasuries show to me a slowing of the future economic potential so the Machine shant be starved for credit in the world market….it is rotting away internally but one could survive for decades off the dead bloated Leviathan
“We are one failed “COOKED” treasury auction away from the abyss”
yes this is a FEAR of mine…but I believe there has already been a couple failed auctions didn’t even register a blip on the world scene let alone penetration the American conciousness
@chArles
Read the gold…
gold has risen about 18% per year for a decade (in US$)
The S&P 500 is down about 40% over the decade
So what has the value of the S&P 500 in gold terms done in the last decade?
look at the first chart, gold is speaking are you listening?
http://www.theundergroundinvestor.com/2010/05/10-gold-charts-that-commercial-investment-firms-never-want-you-to-see/
@WL. nice. thanks.
@WL. wonder if maxy boy has seen those charts?
@ronron
Here is a great monthly seasonal gold chart,,, Aug is the buy zone Feb – Jul flat
We accumulate bullion and trade the stocks for leverage
http://seasonalcharts.com/classics_gold.html
1. The U.S. is currently in “disinflation” which means, I guess, that prices are relatively stable.
2. If we “deflate” then the purchasing power of our currency should increase (not decrease) and would be worth more in real terms. (Has there ever been a case where deflation has rendered a currency worthless??). People with high debt would find that debt harder to pay back because salaries would be falling along with prices. (Debt people lose. Savers win.)
3. If we hyperinflate and the dollar becomes worthless, yes this would hurt the poor who wouldn’t be able to afford anything. On the other hand, middle class homeowers would see rapid appreciate of their home values (rising prices – definition of inflation). Weathly people would be hurt because the purchasing power would decrease. (Poor people lose, middle class? upper class – lose?)
The world according to MacGruber
Keiser: If they wanted to bring about a solution, the solution is very easy: Ring fence all the corrupt banks, put all of that bad debt behind a firewall like they did during the savings and loans crises of the 1980s. The Resolution Trust Corruption ring fenced all the debt and they restarted the economy by creating some new banks. And these new banks were able to get loans and they could create inflation, which would have the effect of stimulating the economy. That is clearly the way the solution could be offered. But this is not what’s happening. So clearly we must conclude that the bankers on Wall Street our not doing the obvious solution but the complete opposite of what should be done. They are increasing the debt load by flooding the market destroying houses, jobs, wages and pensions.
Interesting.
Just History Repeating … Same plan, same players, same result.
The good news is that we know about it. We don’t need psychics; we just need to read.
If we can find the courage in ourselves to get up and stand up and take the path less traveled………
When you think about it, the banks are ruining our neighborhoods. They sit on these foreclosed properties, because they don’t want to take the loss on their books, and in the meantime, they are devaluing all the homes around the foreclosed homes, because there’s grass growing in the driveway next door. This has to be stopped.
@marietta glad I don’t own a hot tub
http://www.reuters.com/article/idUSTRE59O1VO20091026
those thing sound dangerous