PirateMyfilm beta is up at:
The top project at the moment is Stacy’s – - ON THE ROAD.
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I was a guest of Alex Jones on infowars last week and Alex mentioned my ideas concerning the emergence of ‘casino gulag state’ and a ‘casino gulag economy.’ I wanted to flesh that concept out a bit. Admittedly, some of my forwarding looking finance and economics ideas might look like I am contorting reality a bit, but not if you put yourself in the position of looking out from inside the financial engineering minds of the world’s investment banks and technology innovators. In a fractional reserve managed, fiat currency based global economy ‘money’ is as plastic and amorphous as any medium and can take any form that suits the interests of the powerful at the expense of the just.
The Casino Gulag model works as follows:
First, the huge debts incurred by consumers around the world and most particularly in the US and UK will continue to increase in size. The price of credit (interest rates) will never rise enough to change the behaviour of debt addicts plus, the Federal Government will, vis a vis the ongoing bailouts and restructuring of the public and private markets, transfer tens of trillions of dollars of unfunded pension and Medicare/Medicaid liabilities – that are now hidden from view due to ‘off the books accounting’ – onto the public’s balance sheet by selling these debts to America’s biggest creditors; China, Japan, and the Mid East countries.
America will be surprised to wake up one day and find that each one of them owes these creditors hundreds of thousands of dollars on top of the hundreds of thousans they alrady owe on mortgages, credit cards and cars. Aiding in this ‘bait and switch’ will be the religious supremacists in America who will push a revisionist message transforming the meaning of the concept of ‘original sin’ to be interpreted as ‘original debt’ meaning that to be born into debt is to be disabused of any doubt of God’s (read: Visa’s) existence.
America already has the biggest and fastest growing prison population in the world and these prisons, like America’s various wars of convenience, are hugely profitable for the private prison operators here and abroad. Why not extend the prison brand and lifestyle beyond rap music and lopsided baseball caps to include all the amenities of the casino industry?
How? The growing prison population; expanding due to law changes that will criminalize all late payments, will be given cheap online accounts and free gifts of dollars from the government to speculate on online casinos sponsored by the Golden Nugget and Goldman Sachs.
‘Justice’ will be in the hands of the prisoner who will not be collecting their winnings in the form of cash, but in seconds, days, and weeks lopped off their prison sentences. Losses will result in prison term extensions. ‘Justice’ itself will be taken public on NASDAQ; ticker symbol, JSTC.
The return of time for dollars, per this model, will be very profitable for the Golden Nugget-Goldman Sachs axis of prison gulag debt slave underwriters on Wall St.
Additionally, a gulag-casino reality TV show that features debt slaves winning their freedom with winning bets can add to the bottom line. As long as the MSM and gulag-casino operators push the idea that everyone in prison has a ‘fair’ chance of gambling their way out of prison, Americans will never question the underlying premise that the only way this works; the only way this model ‘grows’ the economy is to incarcerate everyone will never be questioned.
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The Financial Crisis was a Hoax. The global casino is open again.
No worries! You actually believed there was a problem when Paulson and Bernanke threatened Congress last year with Martial Law; to blast the U.S. economy back to the 16th century; to crash the market unless ransom was paid requiring each American to fork over $100,000, give or take, in impossible-to-payback future loans today to add to the hundreds of thousands of dollars each American already owes forever?
HAHAHA. It’s all good, bro. Goldman Sachs and the other cruel sisters of syphilitic lending are reporting huge profits and bonuses. Analysts are begging Wall St. to raise their debt ratios and risk profiles to increase leverage to thousands of times equity back to where it was before their competition BearSteans and Lehman Brothers were murdered. The bubble machine is whipping up cash like cotton candy machines at the end of an endless pier stretched over an ocean of easy credit, pay check loans and Cash for Clunkers.
All efforts to remove the investment banking tapeworm from our collective colon have failed, but that’s a good thing. We poked the monster at 85 Broad St. and made it angrier and greedier in ways never thought possible and daddy’s feeling fine. Ain’t no audit going on at the Fed, bud. I’m so happy I could just plotz. You’re gonna LOVE what happens next. Insatiable greed meets infinite moral hazard when Goldman eats the Fed.
We’re on the cusp of another financial eclipse. The Shadow of Wall St.’s banking pyramid is covering the U.S. dollar in a blanket of Chinese sell orders.
Embrace the moment. While Wall St. has been off-loading last year’s crooked schemes: CDOs, High Frequency Trading, and Ponzi profits engineered by pilot-less computers firing a million trades a second into the heart of capitalism. A whole new generation is waiting in the wings to get cold-called from Wall St. and sold a few thousand shares of today’s hot IPO:
NEW YORK (Reuters) – PennyMac Mortgage Investment Trust (PMT.N), which buys distressed home loans and is run by several former Countrywide Financial Corp executives, on Wednesday raised $320 million from an initial public offering, $80 million less than planned.
The Calabasas, California-based company sold 16 million shares at $20 each. It had on July 16 projected an offering of 20 million shares at $20 each. The company had also said it hoped to raise $400 million from the offering. The company plans to operate as a real estate investment trust. Its shares are expected to begin trading on Thursday on the New York Stock Exchange under the symbol “PMT.” Bank of America Merrill Lynch, Credit Suisse and Deutsche Bank Securities Inc arranged the IPO.
Your neighbor will be ‘making a killing’ as re-re-re-repackaged sub-sub-sub-prime debts bought from the government – who bought them from Goldman – who bought them from the government before skyrocketing from $20 to $2,000 while you relax aboard the Virgin Galactic to outer space.
The CCX (Chicago Climate Exchange) owned in part by the same double dealing banks that have been rigging the game in New York, Beijing, Tokyo, Moscow and all points in between invites you to play in the carbon futures market. In the UK, DTQs (Domestic Tradable Quotas) give homeless people a swipe card that will top up with credits as a result of having relatively minuscule carbon ‘footprints.’ Greed and good will finally be trading side-by-side 24/7 and anyone looking to hedge their wickedness can go long altruism for pennies on the dollar.
Political futures will become much bigger as state economies fail and gambling becomes legalized. Sites like InTrade that offer ways for punters to make political bets will bloom. Some bet that Obama would be President when his chances were less than 5% did and made a bundle. The McCain camp tried to manipulate that market. Remember? But you knew that. That’s why you shorted McCain at the top!
Hollywood futures will be much bigger. Look for studios to sabotage each other’s projects by short selling and ‘naked’ short selling competing projects on the Cantor Exchange to drive the perception of a film’s popularity down before it’s released. No problem, just spend more on marketing. More money will be made trading box office futures than at the box office. Inside information will become legal. Milton Friedman will rise from the dead and advise the Honduran government. Brat Pitt will star.
High Frequency Trading (HFT) aka ‘flash trading’ will continue to grow exponentially. Trading will become so fast, time itself will have a public offering after Microsoft secures a patent on it and trading time futures will catapult traders backwards and forwards through time until they need bailouts on debts they have not yet incurred. Tim Geithner will sell his house in Larchmont.
Cloning time traders will get Congressional approval confusing the boundary between time and money further causing Warren Buffet to pass a kidney stone that looks exactly like Larry Ellison. Time Bandits will steal the DNA of time trading clones and sell the proprietary code to a Japanese housewife who will use it to crash the Icelandic Krona (again) because she thinks she’s over paying for a plate of sushi in Reykjavik.
People will start taking themselves public on new Citizen Exchanges created by Obama; commit public sex acts to boost their stock price then short themselves before committing suicide to cash in out-of-the-money puts they bought on themselves. As a result, the porn industry will need a bailout.
Babies will abort themselves to avoid declaring bankruptcy on charges racked up on in vitro credit cards force-sold to them by Visa through their Verizon owned umbilical cords.
Facebook and Twitter will go public and will each have market caps bigger than Google causing the NASDAQ to shoot to all time new highs. Users will tweet and blog for insider stock. Perez Hilton will become a billionaire. The more you look in the mirror the more you get paid. Narcissism will get monetized by the Feds with some help by Nassim Taleb.
Thanks Lloyd Blankfein, current CEO of Goldman Sachs and future President of the United States. We are eternally in your debt.
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Stacy Summary: I love this latest blog from Max for Huffington Post. So make sure you go there and comment / debate. (Here too 
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Max: This is the equivalent of the casino giving away a free breakfast to someone who just lost their life savings at the roulette wheel. Buffett is getting 10% right now on the money he loaned to Goldman and the loan is convertible to Goldman stock at $115. He’s up 40% in nine months! Why is Geithner giving away America’s play on the rise in Goldman’s stock? America bailed out the bank but America does not get to participate in it’s ‘recovery.’ Plus, Goldman, after becoming a bank and, therefore, making itself eligible for free government money – NEVER DISBANDED THEIR HEDGE FUND. This is patently ILLEGAL.
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Max: There is no such thing as a ‘naked credit default swap.’ Trading something that has no cost basis whatsoever to another party who does not take delivery of an imaginary financial fiction does not constitute a bona fide transaction. Buying and selling avatars on Second Life has more economic legitimacy.
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Posted in Headlines, Max Keiser Blog
Stacy Summary: Wow, it’s been awhile since we had a banker on the run story. I remember there were quite a few while we were making The Oracle. And, speaking of bankers . . . Tony Blair is in the news. Oh god, I thought we were rid of him? Finally, I love that the FTSE rises 3 percent and yet the VIX rose even more . . . is it time? I mean, Tony Blair is, after all, an important contrarian indicator.
“That is remarkable,” Randy Frederick, head of trading and derivatives at Charles Schwab in Austin, Texas, said of the tandem move by the S&P 500 and VIX today. “The VIX is expecting something here, either a pull back this afternoon or tomorrow.”
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Posted in Headlines, Max Keiser Blog
Tagged banker on the run, credit suisse, tony blair, vix
Cross-posted at HuffingtonPost
This is what we know: The fractional-reserve-banking-enabled, Fiat-currency-assisted credit derivatives bubble that grew 10 times larger than Earth’s GDP has popped.
And the collapse of this greatest global Ponzi scheme since the South Sea Bubble has taken world markets with it. It has destroyed pension funds and wiped out banks across the planet. Economies have screeched to a standstill. Trade has collapsed. Fifty million have lost their jobs. A hundred million have been pushed into hunger.
This is what we don’t know: when, or if, the banking bailouts, money printing and other wealth transfer schemes will stop.
In America, the people are mad as hell and they aren’t going to take it anymore. Or that’s what you would think if you tuned in to any cable channel spewing the new populism.
The Wall Street Journal is reporting, however, that all that televised “populism” is a whole lot of hot air: “Today’s populism has created no large scale protests in the US.”
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As we gear up to make a fresh assault on the copyright cartel and expand the public domain with PirateMyFilm, it is worth taking a look at this campaign we ran in The Ecologist magazine a few years back.
The campaign tried to help activists, environmentalists, etc. expand the public domain by first cleaning up the toxic slick in financial markets. The right wing tried to shut this campaign down, of course, by smearing it in the press; falsely accusing us of instigating market manipulation. But they ended up with egg on their face as Continue reading
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Rick Ackerman
Karl Denninger – Market Ticker The Big Picture Mish David Morgan King World News SmartKnowledge GoldCore Michael Krieger’s libertyblitzkrieg
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