[OTE125] On the Edge with Pierre Jovanovic

Posted on October 2, 2011 by stacyherbert| 33 Comments

We talk about French banks, Sarkozy and the European debt crisis with Pierre Jovanovic, author of Blythe Masters.

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33 Responses to [OTE125] On the Edge with Pierre Jovanovic

  1. Alastair Carnegie | October 2, 2011 at 1:21 am |

    Blythe Masters is responsible for this:- http://www.bis.org/statistics/derstats.htm
    Sorry these are 2010 statistics, the 2011 ones will make interesting reading, those unfamiliar with the term ” quadrillion” it’s a thousand trillion, or a million billion. It is said that every man woman and child in america is shouldering $5 million worth of Derivatives Debt, all thanks to Ms. Blythe Masters. The Bank of International Settlements Statistics [see link above] explains? where it all is…I think?

  2. Casper S. | October 2, 2011 at 1:29 am |

    (1) Body language. If M. Pierre could cringe any farther away from Max he would fall right out of the frame.
    (2) Sartre. Blech! Feh! An evil little midget who couldn’t keep his nasty little hands off his female students! Hell is other people. Well, duh.. if you’re a nasty little midget who can’t keep his dirty little mitts off other people’s young daughters. Fer sure, dude.
    (3) Lagarde. Thought is linguistic and profoundly a matter of grammar. The English grammar and the French grammar reveal the reasons for a dichotomy of modes of thought between the two cultures. Which is why French literature is so damnably tricky for English speakers to get a grip on.

  3. Alastair Carnegie | October 2, 2011 at 1:44 am |

    BTW; The ‘value’ of a CDS is vested in the ‘insurance’ that hypothetically underwrites the CDS bundles. The Insurance Industry have strict rules concerning ‘disclosure’ of the nature of each asset so insured. If these strict rules are not obeyed, the Underwriters are not obliged to pay out on the risk. Sure! they will take your money, and insure your Picasso for $25 million, but when lightning strikes your house and all the contents go up in flames, the insurance loss adjustor will ask awkward questions about the provenance of your charred Picasso….and may delay payment untill forensic analysis is complete.

  6. Blah blah | October 2, 2011 at 2:11 am |

    I think that is the first time I’ve seen someone out Max Max. Choosing between the Euro and the Dollar is like choosing between contracting cholera or AIDS.
    The look on Max’s face was a picture.

  7. Jayme | October 2, 2011 at 3:24 am |

    Pierre Jovanovic Interview with James Turk in Paris
    http://www.youtube.com/watch?v=q8KaRbGJhPc

  8. Teresa | October 2, 2011 at 3:26 am |

    I liked the way Jovanovic giggled when Max asked him if Europe could avoid creating bad feelings among its member countries if the Euro falls apart.

  9. F. Beard | October 2, 2011 at 3:30 am |

    Fun guest!

    Existentialism: “I is therefore I be.” Some philosophy. NOT!

    “Hell is other people.” True but solitary confinement is worse. Confining evil spirits with a minimum of suffering is no trivial task.

  10. James T | October 2, 2011 at 4:18 am |

    Very good interview, Max. Pierre obviously gets the sense of fun with which you infuse discussions of some very serious topics.

    That was the first I’d heard of the worry about russian assets and debt held by French banks. I don’t know whom I’d less like to rely on, the greek government or Putin.

  11. metoo | October 2, 2011 at 4:31 am |

    I have to say that is probably the best interview I have seen you do, because it was less of the theatrics and more on substance. How about you start looking to what is ahead once the dollar and the euro collapse and the likely scenarios that could be best implemented to get
    an improved outcome rather than a rehash of the last 40 odd years, ie Max if you and your guests were Prime Minister or President what would you do.
    Thanks to an awakening there are plenty sites pointing out the problems, yet I have yet to find any that show a roadmap in clear and concise detail the “what now” answer.

  12. snoop diddy | October 2, 2011 at 5:01 am |

    That was a great interview.

  13. ronald | October 2, 2011 at 9:29 am |

    Pierre´s english is pain in the ass to my ears , but nice show though

  14. Heinrich Moltke | October 2, 2011 at 9:44 am |

    Great interview. Chock full o’ substance, as other commenters have noted.

    Except for Caspar S…. I have to ask (rhetorically, of course): Are you some new kind of idiot? Caspar’s comments really raise the bar for idiocy.

    1) The reason why Pierre J. is leaning away from Max — not “cringing” as you call it — is because he is homosexual and he is managing his physical attraction (to Max). By tilting away, he is compensating in the opposite direction of his true desire — which is to lean in closer.

    As proof Pierre J. is homosexual I submit to you: a) his rosy cheeks; b) the fact his name is Pierre; and finally, c) he is French. Certainly being French is a kind of de facto homosexuality. Don’t say to me his last name shows he is a Serb: being French is a cultural position, and adopting that position is the same as adopting that other position, viz. bent over the chair.

    2) You think Sartre was the only only slipping his snake into his female students? That this was somehow significant? How about Heidegger? How about every professor of any note in any university? What about the great orgies they have at the theological seminaries throughout the West? Ever wonder why they are called “seminaries”?

    3) Caspar’s final remark is the most eggregious, and shows “Caspar” to be a true and proper pedant, an unreconstructed one. Only a pedant would risk making such a banal comment “Thought is linguistic and profoundly a matter of grammar”. How bald and misshapen and sadly laughable it is to say something, anything, is “profoundly a matter of grammar”. This is like saying “sex is profoundly a matter of rubbing”. I’m not sure what is more stupid: the use of the word “profoundly” here, lost and adrift, an island in a sentence of pure banality; or reducing what is “linguistic” even by example to a simple “matter of grammar”.

    Caspar’s not done, though:

    The English grammar and the French grammar reveal the reasons for a dichotomy of modes of thought between the two cultures. Which is why French literature is so damnably tricky for English speakers to get a grip on.

    This could almost be taken as truth until it is remembered it is being typed by such a pedant. So in response, it is worth making the points that the Protestant/Catholic divide is as much to blame for the “dichotomy” (again a word out of place, “banalized”, like “profoundly” above) of Anglo-American and French thought. Lautreamont wouldn’t appear without a certain hysterical Catholicism. Likewise, the fact that the French don’t shave where you expect them to also plays a part. Count also the leather pants.

    N.B. Stacy Herbert: I want your body. Not you, just your body.

  15. Wolferl | October 2, 2011 at 11:02 am |

    @ Moltke

    You scare me. See a doctor. I mean it!

  16. sam | October 2, 2011 at 12:36 pm |

    @F. Beard.

    ‘Solitary confinement is worse’ actually it’s not that bad depending on your upbringing.

    The reason why it’s bad on prisoners is because it re-enforces the childhood experience of parental neglect.

    @Max, great interview. also In TaM you mentioned that you are now relegated to non live tv in a lot of cases. Have you thought about getting on the Young Turks?

  17. F. Beard | October 2, 2011 at 12:36 pm |

    Stacy Herbert: I want your body. Not you, just your body. Heinrich Moltke

    You’re new here, aren’t you? Disrespecting Stacy is no way to win friends here. Just for that I already heavily discount your comments which otherwise seem intelligent.

    I suspect you are already on thin-ice with respect to being banned. As of now, I would not miss you.

  18. F. Beard | October 2, 2011 at 12:40 pm |

    Solitary confinement is worse’ actually it’s not that bad depending on your upbringing. sam

    I am talking about complete isolation from the rest of society. The wicked can harm with words alone.

  19. Heinrich Moltke | October 2, 2011 at 1:29 pm |

    @F. Beard

    As you may know, comments are moderated. And if a comment is let pass, it might be because it was deemed inoffensive by people brighter than yourself.

    I suspect you are already on thin ice with respect to being an internet idiot. Not the least reason being your kitty-cat avatar.

  20. F. Beard | October 2, 2011 at 1:37 pm |

    I suspect you are already on thin ice with respect to being an internet idiot. Heinrich Moltke

    Keep skating and we’ll see who falls through the ice first.

    Not the least reason being your kitty-cat avatar.Heinrich Moltke.

    He’s a lot cuter than you are!

  21. F. Beard | October 2, 2011 at 1:44 pm |

    @Heinrich Moltke

    I assumed your avatar was a portrait of yourself. But if not, who is he?

  22. John Robb | October 2, 2011 at 1:54 pm |

    In 2008 it was musical chairs.
    Today it’s a bunch of circle jerks playing hot potato.
    http://www.youtube.com/watch?v=w_aeSJlVDdQ

  23. Al Kyder | October 2, 2011 at 2:06 pm |

    It was not easy to comment on such an interesting show.

    Christine Legarde speaks to the French differently. Maybe she knows that there is no way to save the French Banks. She might have conspired with Neo-Napoleon Sarkozy over the Libyan invasion. The timing was right. Maybe DSK said no to Libya.

    57 billion $ Greek risk, Russian Banksta exopsure. It just gets worse and worse. Howsd things in Libya, Gaddafi Alive and well still got the gold. Meanwhile, as reported by various sources, the American company ConocoPhillips has purchased the first barrels of oil in Libya by sending its new oil tanker that loaded 381,000 barrels of crude oil destined for refineries in France and Germany.

    The Northern Euro and a Sth € might work. Sliding currencies will be important. How do you do that though, with just two currencies. I wonder how Croatia is doing. They are still on the Kuna. What about Cyprus. Now there must be opportunities there.

    Speaking of Russia, lets not forget Russia and Germany are rather close. Angela Merkel speaks Russian rather well. Could Putin rescue Germany? Germany has become a hub for Russian Gas and oil.
    Frontline financial war reports. I did notice that change. I like it too. But we all know the US$ is dead.
    —————-
    Government to boost yen intervention funds
    Authorities plan to bolster funds needed to intervene in the currency market and will lengthen monitoring of foreign exchange market positions as the yen stays near postwar highs, Finance Minister Jun Azumi said Friday. The ministry aims to raise the issuance limit for bills to fund intervention to ¥165 trillion, an increase of ¥15 trillion, Azumi said. He also said the ministry will require financial institutions to report their market positions until the yearend, from the initial plan of until the end of September. (Japan Times)

    Old news

    A Chinese candidate will become the first director of a new surveillance unit set up to help guard against future financial crises in the region.

    He will serve a one-year term. A Japanese appointee will then take up the post of director of the Asean+3 Macroeconomic and Research Office (Amro) for a two-year term under a compromise worked out yesterday by regional finance officials and central bankers meeting in Bali.

    The 10 Asean countries plus China, Japan and South Korea agreed to establish the office to help oversee a US$120 billion (3.6 trillion baht) pool first set up in late 2009 as a safety valve for Asian countries facing a financial crisis. The programme, formally called the Chiang Mai Initiative Multilateralisation currency swap facility, was set up in the wake of the 1997 Asian economic crisis to offer regional economies access to foreign exchange reserves in times of need.

  24. Specky4eyes | October 2, 2011 at 2:11 pm |

    @ Alastair Carnegie. “those unfamiliar with the term ” quadrillion” it’s a thousand trillion, or a million billion”

    Someone needs to update this little video. I personally had no idea about the size of a trillion until I saw this. (Quadrillion, the mind is past boggling!!!)

    http://www.youtube.com/watch?v=DBMGms17blE&NR=1

  25. Danny Cunnington | October 2, 2011 at 3:00 pm |

    Yes the great north/south divide with a Euro 1 and 2 or…. Germany going it alone. The big game changer would be Germany going it alone. This would inevitably lead to a trade agreement with Russia. Both great nations have things to offer each other. Germany could get all the energy it needed and Russia could get industrial technology and German expertise which it badly needs to develop.

    That’s the big game changer which fundamentally changes the pecking order. France and the UK will massively lose influence. The Netherlands will do okay as would Scandinavia and Denmark. The southern nations and Ireland will need a currency that’s weaker to attract the stronger currency holders to it’s exports and tourism.

  26. Mary | October 2, 2011 at 3:53 pm |

    Excellent interview – very informative, down-to-earth and realistic. There comes a time when it’s best to admit we’re f*cked and pour another one.

  27. Harry | October 2, 2011 at 4:06 pm |

    SILVER OVERSOLD “It’s a License to Steal” – Part 1

    http://www.youtube.com/watch?v=d699_k6FrgY

  28. susan | October 2, 2011 at 6:29 pm |

    I am still very suspicious of the ‘A’ (pyramid) in M’A'x’s name, and the chemtrails behind him….what’s going on?

    BTW, Toulouse absolutely chock-full of Pyramids, ‘A’ without capstone, eye of horus, vesica piscis (female organ), etc etc – according to my research, all illuminati symbols.

    Chemtrails in Windows screensaver, etc, etc…

  29. ronron | October 2, 2011 at 7:49 pm |

    this show really sums things up for me. Stacy should move it to the top of the page. yes Beardo is an internet idiot.

  30. Jayme | October 2, 2011 at 8:04 pm |

    It was not easy to comment on such an interesting show. – Al Kyder

    Same here. What I find most interesting is that Pierre doesn’t simply parrot the views Max has been presenting, though they effectively dance around the same arena. It’s quite a different feel than many of Max’s interviews. Max is very direct with general knowledge and Pierre fills it in with subtler detail (the story) specific to France as Pierre speaks which gives a richer dialog – imo.

  31. F. Beard | October 2, 2011 at 8:20 pm |

    yes Beardo is an internet idiot. ronron

    Thanks for keeping me humble and reminding me to keep reading the Bible.

    (But don’t get carried away lest I curse your guitars with dry rot or send the Feds to confiscate them.)

  32. Specky4eyes | October 2, 2011 at 10:45 pm |

    F. Beard. You were right to speak out for Stacy.

  33. Specky4eyes | October 2, 2011 at 10:46 pm |

    @ Susan. “I am still very suspicious of the ‘A’ (pyramid) in M’A’x’s name”

    Same here.