This week Max Keiser and co-host Stacy Herbert report on the scandals of George Soros and the IMF shaking out the gold market; US bank lending falling at the fastest rate in recorded history; and the trickle up unemployment pyramid. Keiser also speaks to The Market Ticker’s Karl Denninger about cdos, synthetic cdos and hiding Greek debt.
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If you haven’t seen episode #18,
watch it
21min in is the best part
This practice of Social Engineering, by the US GOVT, has wrecked the most successful economy in the world. Had the government not interferred with the Free Market, housing prices would have never been blown up and mortgage defaults would have been kept to a minimum because consumers wouldn’t have been lured into buying homes that they can’t afford. Poor people SHOUL NOT BE BUYING HOMES….they need to rent and save money for a purchase. PEOPLE – you need to live within your means.
…(cont) to the extent that it has created BIZARRE and MASSIVE distortions and Moral Hazzards. Exhibit ONE:
In order to be approved for a home mortgage, the borrower should be depositing a MINIMUM of 25% and should be paying the bank a MINIMUM of 12% interest and a MAXIMUM term of 20 years. THAT is how banking is supposed to work in a free market. The US Government’s goal of “putting house on every lot” was in competition to the Communist goal of a “Chicken in every pot”
Beside the fact gold makes your hair fall out, CNN said the world will never be able to recreate a gold standard
Keiser is wrong:
There’s an elephant in the room that nobody wants to address. At the ROOT of the economic problems we face is the attempt by the US government to Redistribute wealth and make the entire country have the same “Equal Opportunities.” This has resulted in horrible ideas like the FHA, Fannie Mae and Freddie Mac, which were all created to accomplish some Utopian, Socialistic Agenda that could NEVER have worked. The US government has interferred in the Free Market….(cont)
Are you going to put your life savings in a warehouse full of beans? You’ll be bankrupted by rats.
Generally, the advice to buy gold is directed at people who have enough money that it would be impractical to use all of it to buy essential supplies.
When people point out that you can’t eat gold, I usually say “you can’t eat federal reserve notes either.”
This should be the Stacy Herbert Report with Max Keiser as his assistant.
max, despite your show being hugely entertaining, you are not going to have a relevant profit model broadcasting on youtube.
would you like to securitize your show? in a feudalistic society, information distribution is big business – hail the newspaper barons of yesteryear – therefore media control & arbitrage is the next step in the internet revolution – come back abroad our bandwagon and rejoin your brothers – we can enhance valuations over and above your previous (200m) ventures.
The unemployment study cited was designed to inflame class war. It set the bar for “rich” households at $140K? Ridiculous. As for the rest, its just common sense.
Show me an economic downturn where the least educated, least skilled workers weren’t the most vulnerable. Why would companies choose to lay off employees who are hard to replace in favor of easily replaceable low wage workers?
Saying “Trickle Down” doesn’t work would imply that Obama has been using it… has he?
I’ll try.
A hedge fund identifies a trend (decline of a certain market segment) it wishes to profit from, but can find no way to do so. It creates a product (SCDO) which will pay off for the hedge fund if the trend continues, but will cause losses if it reverses. The investment bank agrees to offer the SCDO as a product to investors. The investors aren’t told they are betting against the expert analysis of a hedge fund and are the suckers in the deal. HFs & IBs are colluding to rob you.
unemployment in spain is over 4 million i heard.
I feel refreshed, reinvested, the world is so full of promise. Well then, happy Wednesday.
I do not like it that Mr. Keiser fails to admit that not only the wall street gets its profit no matter what (mostly from the fees, regardless if the mutual funds, derivatives perform or fail) , but the Gevernments get “their” taxes from the so called average investor no matter what as well.
1) I wanted to break down the language to appeal to as wide an audience as possible
2) I could not spend the whole interview on just this one point . . . so, hopefully, the discussion at least got enough into the topic to get people to do their own follow up.
seems to be a guest with competence in financial instruments.
following his arguments, however, was a bit hard for me (and probably for max keiser as well).
didn’t really get his description of the goldman-sachs synthetic CDO’s which people only would buy if they expect losses in an economy.
are those synthetic CDO’s similar to stock options used for blanking or what?
how are they misused in this specific Greece-goldmanSachs business?
anyone who can explain for me what this guy is talking about?
Ever fart in your hand and smell it?
I like Max a lot, but he appears to be really out of it here. First he can’t respond to Stacey’s comments in a coherent way (and just shouts out some unrelated talking points). Then he can’t wrap his head around the synthetic CDOs, even after Karl so eloquently explains them.
@CaptJJYossarian BINGO! What will they steal next? Space money if there is somehow such an impossible thing
i am holding a penny in my hand. we might constitute an angry horde? I am happy I have a penny
)
minimum wage needs to go to help create employment
190tons of gold?
I got some extra money in my piggy bank……
i bet you our government is waiting for china to do something that is considered “agression” or “economic warfare” and then use that as an excuse not to pay all of the debt we owe them. and they china will have no choice but to declare war. then its world war 3 everyone.
maybe behind closed doors we are telling china to go ahead and reclaim taiwan and we wont do anything. then once they invade we will say to the world, that is an act of war and we arent going to pay china all the money we owe
THANK YOU SIR!
The sad thing about all this fraud, is that Governments will “cut off” a single mother living on welfare for not reporting an extra $100.00 in order to feed/clothe her children. Unbelievable!
Waw! Everyone is cared!! I think they got their pants dirt this time and will get out of the the GOLD market, 15 pps, that’s too much! Why don’t the crooks try to dump it 200pps!!
DO IT!
I bet everybody will buy all of it back!