Max Keiser On The Death Of The US Dollar, Middle Class And Overall Economy
Lots of speculation today about the upcoming death of the U.S. currency, middle class, and by implication, its entire economy, as gold hits all time highs. Max Keiser joins the fray: "This is just another step to the US economy collapsing, and the US, as a major power, collapsing." One thing is certain: Listen, and understand. The Chairman is out there. He can't be bargained with. He can't be reasoned with. He doesn't feel pity, or remorse, or fear. And He absolutely will not stop, ever, until the dollar is dead.
(6 votes)
on Tue, 10/06/2009 - 09:31
#89949
Ditching the US dollar for purchasing oil (gold/food/commodities) is a significant issue. The financial war has started.
on Tue, 10/06/2009 - 10:11
#90017
more accurately; the resource wars have begun in earnest.
on Tue, 10/06/2009 - 10:41
#90086
The financial war began when a bunch of chinese students LOLed at Timmay(!) when he visited China earlier this year.
on Tue, 10/06/2009 - 13:00
#90307
That incident will go down in history.
on Tue, 10/06/2009 - 13:11
#90333
Did April Fool's Day come early today?
Russian TV interviewing a Pee Wee Herman former
stockbroker in Paris spouting global contacts and predicting a new global currency with 50% gold and 50% devaluation of the dollar. Right.
Now there's a bit of entertainment propaganda to rival Michael Moore.
Past RT hits: Michael Jackson really alive in CIA plot, Russian Cosmonauts on the dark side of the moon in
Ipswich Hanger and the Russian Father of All Bombs.
Makes us pine for 83 year old Mao swimming 10 miles upstream in the Yangtze River or Kim Jong il celebrating 4 sequential holes in one per round of golf with endless
live lobster, Hennessey and kidnapped call girls.
PW asserting the crash of 2008 was deliberately set by
bankers wanting bigger bonuses has to be the best RT reportage yet.
Let's never let facts and reason get in the way of a
wild story, eh?
The word PW was groping for was seigniorage,
not coinage. And the USA has plenty of that for a good reason.
Decrying the military industrial complex is
nothing new, going back to Washington's Farewell
Address, picked up by Ike and the SDS.
Military dominance is the reason America still has the
largest gold reserves of any country, as well as the largest credit of any country.
Okay, China is gaining and may surpass Japan next year,
but collapsing USA GDP is still three times China's.
China isn't getting too far without the USA as the Bushes and Clintons demonstrated for R&R.
We saw this story before in 1989 with Japan taking over the world starting with Pebble Beach and Rockefeller Center.
Who owns them now?
(Pan to millions of Japanese Seniors quietly collecting their 1% postal bond coupons.)
Consider $8 518 274 000 000 world fiat currency reserves divided by 113 476 336 ounces of IMF gold reserves and we have $75 066.5231 an ounce gold.
Pretty exciting stuff until we remember most Arab, Chinese, Japanese and Russian surplus reserves are still held in dollars and euros for a good reason. No one else has the
gold, heft and size, although many have penis envy.
The dollar still prices half of all world trade,
twice Euro trade. Surplus nations are hardly in a rush
to bite their talking noses off to spite their
financial fannies.
The French still march to their own drummer. Are they Robert Fisk's real rumour source for the latest
New World Order Bilderberg conspiracy infowars fantasy?
Chinese backing for the new SDR is still 60% dollars
with the rest fiat currencies. No gold.
The Chinese renminbi yuan is pegged to the dollar because the USA is still its largest global market despite creative news stories and a deflating lingering inflation hangover.
We may not be going any time real soon to a 50% gold world
currency which devalues the dollar 50%, despite $1043 gold prints quite shy of the $2300 real gold high in 1980.
Newsflash to neoKeynesians:
We devalued the dollar 83% the last 8 years and it
did not work to balance budget and trade deficits.
Killing the dollar now will not do any better and may invite
even more anti-American sentiment by those caught with dollars. (Not Europeans, who no longer take them.)
Now we may actually bankrupt banks, cut government benefits, default bad debts and raise taxes the old fashioned way that has always worked in the real world.
Indeed, Middle Eastern representatives of the world's largest petroleum reserves said today they did not even dream this and will continue to price oil in dollars.
RasPutin, China and Japan said similar. Guess that leaves Brazil and India.
Of course Fisk covered himself by saying there would be official denials. Right. Some are not even dignifying the
nonsense with a comment.
For anyone who can pass the math captcha here, which
does not accept correct 3 digit answers, this may look more like desperate 70.70 dollar shorts trying to cover.
George Soros?
We're itching to buy EDZ above 6.57 and GLL above 11.75 with trailing buy stops...
JubileeProsperity.com
on Tue, 10/06/2009 - 21:44
#91038
Agreed, i disregard the whole broadcast b/c it was on RT. I'd prefer to hear it from say Robert Hormats from Goldman Sachs. That Kaiser dude broadcast on al Jazeera before! He must be a liar.
I get my REAL news from CNBC. Credible American mainstream media. Have they ever led us astray?
What a world we live in1
on Tue, 10/06/2009 - 22:44
#91071
...how about ditching oil instead, definitely the FED, maybe the FED first because we might need oil to transition.
Stanley Meyer had an oil alternative in the 70's:
http://www.waterfuelcell.org/
Blacklight power is in the midst of developing revolutionary electrical generation plants:
www.blacklightpower.com
...if we'd put some incentives and manpower behind these types of ideas instead of trying to figure how to socialize and control the world thru ponzi healthcare/bank bailout scams, everyone would be a lot better off except the ones in control of the ponzi/bank scams that have pervaded society for far too long.
Let's get on with it people. We have a constitution that allows the peoples government to issue a script. We have a way out of this slavery:
http://www.youtube.com/watch?v=lXb-LrVkuwM&feature=related
...think locally, act globally, be part of the solution - do ya get it?
on Tue, 10/06/2009 - 09:32
#89950
It started when China demanded their gold back-in physical from London-that started the race to gold
on Tue, 10/06/2009 - 09:50
#89952
For the record,
I'm not a gloom and doomer on the climate where the planet is going to go up in a ball of flames due to man-made global warming.
I'm just a gloom and doomer on the economy where the country is going to go down in a ball of flames due to the man-made Idiocracy.
on Tue, 10/06/2009 - 09:39
#89956
LOl. Tell us what you really think Max.
on Tue, 10/06/2009 - 09:41
#89962
Do we forget that The Fed bailed out all of these Fiat currency sponsoring central banks around the world via swap lines? Does Russia realize how bankrupt they'd be if The Fed allowed the natural deflation to occur and the oil price to fall to $20? Does China realize that they match every printed dollar we send to them with printed RMB? Is anyone aware of the dubious collateral (worse than Treasuries and Agencies) taken on by the ECB in their liquidity programs? The welfare state obligations and deteriorating demographics in both Europe and Japan? Why should similar products cost so much more in Europe than in the US? Is it due to Europe's superior growth prospects? Unlikely. The $ is not a referendum on $ vs. other fiat currencies. it's a referendum on fiat currencies.
on Tue, 10/06/2009 - 09:47
#89979
The Chinese should really appreciate the Fed's efforts/willingness to swap Tresuries for worthless MBS with the Chinese central bank. Ooops! The Fed doesn't want Joe Public to know about these Foreign central bank swap arrangements. My bad.
I'm sure the Chinese are already expressing that "thanks" by exchanging their Treasury newfound holdings for gold. That's what you get when you trash your currency on a global basis, I guess.
on Tue, 10/06/2009 - 09:48
#89980
Sure, but I can't help noticing the nationalistic overtones of your comment, akin to "all you loser countries would be nothing without the US", to which I reply that the US would be nothing without these other countries. Don't knock the crackheads when we're the ones supplying the crack.
I am Chumbawamba.
on Tue, 10/06/2009 - 09:51
#89985
The fed sabved the world: lol
the fed didn't bail out anyone - they bailed out themselves in a short temism that is embamatic of their approach to the economy.
on Tue, 10/06/2009 - 10:12
#90021
I hate The Fed- they are destroying the US and the world economy. But their policies are mimicked throughout the world so not sure why it should be so under-valued when compared to currencies with similarly shaky economic, demographic, and fiscal foundations. Against gold, oil, etc. I understand.
on Tue, 10/06/2009 - 10:16
#90031
"The $ is not a referendum on $ vs. other fiat currencies. it's a referendum on fiat currencies."
Thats how I see it too. If the USD goes, so does EVERY other fiat currency. It will simply mean fait currencies only work in theory, not in reality - point prooven by history.
I live in the EURO zone, but I am sure the EUR wont make it, if the USD dies....
As an aside: The german word for money is "Geld" - that is very close the word "Gold" hmm.... ;)
on Tue, 10/06/2009 - 12:09
#90223
When the dollar tanks, the Euro has six months of viability before it, too, succumbs. This is wild speculation, so ignore me. But make sure you convert your Euros to gold within six months after the death of the not-so-almighty dollar.
I am Chumbawamba.
on Tue, 10/06/2009 - 11:25
#90144
Sir, what is your point?
on Tue, 10/06/2009 - 09:42
#89964
True dat.
on Tue, 10/06/2009 - 09:44
#89969
The move away from the dollar is common sense and as predictable as the sun rising somewhere on this world tomorrow. The debt levels are simply untenable at these levels and they're still growing at break neck speeds. Give me a break to those who are shocked at this. You've either had your heads buried up your arses or been on another planet.
on Tue, 10/06/2009 - 10:29
#90064
otherwise known as "keynsians".
on Tue, 10/06/2009 - 09:45
#89972
Hey, Max should write dictionary entries. His verbal description of The Bird was pretty good.
I am Chumbawamba.
on Tue, 10/06/2009 - 09:45
#89973
he is too kind to bernquacke....but i'll let it stand for now....
on Tue, 10/06/2009 - 09:47
#89978
Dollar Armageddon is not coming over a pricing unit, nor did the US invade Iraq for that reason. The story is nothing meaningless hype.
The remaing basket case of currencies out there will not work.
on Tue, 10/06/2009 - 09:51
#89983
the market is gunning higher on lower dollar because that is good for exporters?
Hmm, but what about all those people who have dollar assets? They will not be very happy at all will they? And maybe they are pulling out and won't want to buy any more treasuries.... pathetic interest compared to Australia for example and you don't lose money because the dollar keeps collapsing so you lose money all ways if you buy US stuff
on Tue, 10/06/2009 - 09:51
#89984
The guy is a bit of a loon, no?
on Tue, 10/06/2009 - 10:16
#90034
Si.
on Tue, 10/06/2009 - 10:23
#90049
Well, if you mean in a brilliant sort of way, sure. Anyways compared to Obama, Ben, Timmy, Larry et. al. he's f--king Einstein.
on Tue, 10/06/2009 - 10:53
#90098
Not even a bit! Max Keiser is a truthteller, and the corrupt powers that dominate our government and run all policy (the private federal reserve and their agents and their bought representative, senators, and presidents, legislate to legalize criminality) try to discredit the truth by saying it is conspiracy theories and those who speak the truth are loons.....time to wise up.
on Tue, 10/06/2009 - 09:53
#89987
Me also thinks, this is another spec job on Oil and Gold...SUCKERS!!!! RALLY THIS..
on Tue, 10/06/2009 - 09:54
#89989
I like Max..
on Tue, 10/06/2009 - 09:54
#89990
Robert Fisk is a full on nutter. Go read his articles over the past 10 years.
As for the oil/dollar I would suggest go read Mish today. He explains these things are nothing to get worked up about.
on Tue, 10/06/2009 - 10:04
#89996
imo Mish is a f*cking idiot. I don't think I've ever read anyone so completely naive and foolish about the world as Mish. In fact that's precisely what I quit reading his blog.
That said, gold is in contango , not backwardation (there is positive carry), so this is unlikely to be 'it', unless we have systemic failure and currency crisis, which is of course possible considering the entire system is insolvent and built upon a foundation of fraud, lies and deceit.
The key here is to watch the right metrics, such as gold, gold basis, USDX, s&p , etc.
By the way I just checked Fisk's past articles, and I see nothing so far that suggests to me he is a 'nutter' (unless you consider sharp criticism of the war in Afghanistan to be evidence of insanity).
on Tue, 10/06/2009 - 10:12
#90022
imo Mish is a f*cking idiot. I don't think I've ever read anyone so completely naive and foolish about the world as Mish. In fact that's precisely what I quit reading his blog.
Me too, PM. Naive is the perfect word. My criticism of Mish has always been his incredible inability to think outside the box.
on Tue, 10/06/2009 - 10:19
#90038
Agreed, except to say that Denninger is worse than Mish. Listened to Jim Sinclair on King World this morning. He said that if you think that Bernanthnerbama etal are idiots, you're the fucking idiot.
Describes Denninger's blog perfectly. I mean, at some point you have to wake up to the fact that it doesn't really matter if it's theiving or not. Nobody's getting busted. Nobody's gonna get busted until AFTER TSHTF and then we'll get a show trial or two.
on Tue, 10/06/2009 - 10:59
#90105
If you have read even ONE of Denninger's posts, you have read 'em all. 'nuf said.
on Tue, 10/06/2009 - 11:38
#90169
Denninger, he does not like gold.
on Tue, 10/06/2009 - 11:42
#90179
GG, agree.
on Tue, 10/06/2009 - 12:12
#90226
Exactly. The theme is always, "I'm Karl Denninger! I am angry! I have a sea bass shoved up my ass!" And then he farts the burrito he had for lunch all over his chair.
I am Chumbawamba.
on Tue, 10/06/2009 - 16:48
#90767
Is there a video feed of that?
on Tue, 10/06/2009 - 11:29
#90152
Yeah, you can agonize over right and wrong all day, and God bless those who do, but ultimately you need to take a realistic view on human nature (reading some history books helps), and realize everyone is primarily interested in protecting their own. Would deflation be the right remedy for this problem? Absolutely, we should have some asset deflation. But it doesn't help the owners of the Fed, who control the nation's currency. So they will try to take the easy way out, by destroying the dollar.
on Tue, 10/06/2009 - 10:25
#90055
Me too. I deleted him from my Google Reader a while ago. Moron.
on Tue, 10/06/2009 - 10:53
#90079
Add me to the list of non-Mish readers. His analysis is decent, his conclusions are terrible.
Edit: look at the YTD returns on the following "assets" and tell me the USD is the place to be:
DXY: -6%
DJIA: 11%
Gold: 18%
WTI: 64%
Holding USD, which the deflationists would recommend, has been a nightmare YTD.
on Tue, 10/06/2009 - 10:57
#90101
Hey ghostface, did you take a position in Gold?
on Tue, 10/06/2009 - 11:23
#90137
Yes, I did, I didn't see you around when I was mentioning it a couple weeks ago, but I moved a good chunk of my oil money into gold, got in at just under 1000 fiatcos. Oil was a good short term play as a bet against the dollar, but ultimately I felt it best to be in real money.
I guess I have a bit of an advantage as I see daily the continued destruction in the mortgage market. With the Fed MBS purchases, FTHB tax credit, FNM/FRE bailout, FHA, Treasury MBS purchases, etc., we have easily thrown 2T fiatcos at the problem, and prices are barely stabilizing with a huge backlog of REOs waiting to hit the market. ZB is going to need to print 2-3X more to continue the charade. Serious delinquencies are rising at a fast clip despite all that effort. It is becoming a vicious cycle - increased delinquencies leading to further declines leading to more delinquencies - 2T fiatcos slowed that problem a bit, but more fiatcos are needed to slow a further decline.
I see gold hitting 2000 as priced in fiatcos by this time next year. If I am off, it will only be on the upside - it could hit 3000 fiatcos, or higher.
the only way that won't happen is if Zimbabwe Ben throws in the towel and decides that maintaining the USD illusion is more important than papering over the failed economy. I can't see that happening, he is an idiot. I fully expect a massive mortgage debt forgiveness at some point soon, , and when it happens, the dollar will be crushed relative to real money (gold).
on Tue, 10/06/2009 - 12:06
#90217
There's no question that the "continued destruction in the mortgage market" is going to have a much more lasting and cataclysmic effect on the US economy than before—I agree. What amazes me though, is that this time the signs are so much more visible, and the lessons we supposedly learned should be relatively fresh in our minds. It should be extremely clear I think that the policy is to inflate our way out of the mortgage debt—elevated inflation of over 4% for a decade or so.
That said, unlike many on this blog, I don’t see the dollar losing reserve currency status. For one, a reserve currency requires that that currency’s country have a military... which contradicts directly with what Max suggests, that because the US has a military we then should lose the reserve currency status…
on Tue, 10/06/2009 - 14:35
#90515
Max's comment about Russia and China not wishing to fund US imperialist ambitions was well said.
They (and others) would like to see the last Cold-war-era superpower brought down to the same level as everyone else. And it wouldn't hurt their own regional ambitions (esp Chinese access to oil resources, incl in Canada) to have the US military somewhat starved and on a shorter leash. Buying our (US) crap Treasuries with good money is a way to keep us on top, and failing to do so is an easy way to bitch-slap us without actually making any provocative move that some US demagogue could use to political advantage.
On that point, they would NOT be happy if US politics turned violently militant and nationalistic; at least Mussolini didn't have nuclear weapons at hand when he made war in Africa. And we won't even bring Adolf Hitler into it on the assumption that unalloyed madness is only really possible once in a thousand years. Right?
cougar
on Tue, 10/06/2009 - 12:26
#90235
I remember you mentioning it, but never knew if you actually did it. Good for you. As for me, I had been waiting for this type of move all year and went ALL IN (many times over) at $950 before the triangular consolidation broke out. I don't even plan to take any profits at all until at least $1500.
on Tue, 10/06/2009 - 13:22
#90365
I know you have been long for a while, and I knew you were right, but I figured I had some time, and going into Oil (and other fiatcos for that matter) was a matter of expediency.
I was blown away on March 18th, I knew Bernanke was an idiot, I just didn't believe he was that big of an idiot. The easiest move for me was into oil and the CAD and AUD. I closed the other fiatcos a while back for a nice gain (in US fiatcos - not sure I consider it a "gain" per se, more a maintenance of wealth) but kept the oil until recently, still have some, but I knew the money printing would create the illusion of recovery and stability for a while, so there was no hurry for me to move into gold.
As of a few weeks ago I figured I need to get in before I miss a big move.
Like I said, I see mortgage stats all day, and once I started to see August results, I knew we were fucked. Summer is the selling season in RRE, and the delinquency results were horrid. Not just an increase in delinquencies, but an increase at the same pace as previous months, despite 2T in fiatcos thrown at the problem. And of course now we have talk of more fiatcos being thrown at the problem in the form of an expanded and increased home buyer tax credit.
As for the time to switch from gold back into fiatcos, again, you need to watch what ZB does in the mortgage market. If he keeps his promise and exits the MBS market in March, and ends some of these other stupid programs like TALF, then fiatcos might regain some value.
But if, like I suspect, he keeps buying, then hold your gold.
And don't worry about him lying about his agency MBS activities - everyone in the market knows who is buying what, so the trail of his buyers is easy to detect.
on Tue, 10/06/2009 - 14:57
#90537
Great timing with the oil. I missed the move in oil and was rewarded with sideways action in Gold all summer (I won't buy stocks just on principle, except Gold stocks of course). I guess I'm gonna keep whatever I acquired below $1k till the futures markets implode upon themselves as, IMHO, we are unlikely to fall below that level ever again. It will be my very own personal ATM machine.
on Tue, 10/06/2009 - 21:49
#91042
Funny how 'correct' you are is a function of time? How do Peter Schiff's and Mish's picks compare now? I bet its not as lopsided.
Mish is diplomatic, but too rigid in his views. he is not anti gold though. He's also against The FED. I admit I read him less though.
on Tue, 10/06/2009 - 10:14
#90028
Mish is useful in as far as he keeps Ken Douchenger occupied with their constant bickering over fiat money systems. But yes, his delfation argument would seem to be flawed.
Robert Fisk is a "nutter" only to the right-wing nutters that don't appreciate his consistent criticism of Western powers continuously killing brown people in the name of cheap oil.
I am Chumbawamba.
on Tue, 10/06/2009 - 10:22
#90042
Who the hell cares if they're white, brown or some other color. Quit viewing the world solely within the context your leftist paradigm where it's all about the evil white men. It's rather about evil "people." Although I do oppose the endless, meaningless wars the Trotskyites are conducting. : )
on Tue, 10/06/2009 - 12:16
#90229
I am not a leftist. I reserve the right to harbor some leftist ideals. I will not be labelled.
Kill Whitey.
I am Chumbawamba.
on Tue, 10/06/2009 - 14:31
#90501
LOL
on Tue, 10/06/2009 - 16:05
#90706
They *would* kill the white skinned peoples for their stuff if most of the white skinned people didn't have nukes.
The Asians are not exactly white, but we only kill Asians to keep the Communist heresy at bay; so long as they stay within their borders, the yellow skined people are okay. And they are useful as a labor pool.
These are not my views -- I think all this sucks -- this is just my take on US imperialism since around 1985 (from which I have derived benefit for the most part, as have most other Americans.) The whole thing should implode and I hope it does; we'll get by somehow without invading the lands of colored people and taking their stuff.
cougar
on Tue, 10/06/2009 - 10:20
#90046
Contango is the first step to backwardation becasue you got to get out of the relative mindset and flip it. Dollar is contagoing to gold. Gold is not contagoing to dollar. The king is back. Dollar is now the prince.
on Tue, 10/06/2009 - 12:18
#90232
Making no sense. "Contango" is the normal market condition. It's no more a precursor to backwardation than a body of water is a precursor to a tsunami.
I am Chumbawamba.
on Tue, 10/06/2009 - 19:55
#90945
Well you know what I mean. A huge contango which sets of a point in time that anchors the backwardation.
on Tue, 10/06/2009 - 10:24
#90052
Fisk has played loose with facts during hostilities. His being critical allows for bias, but distortions have been proved as well. No matter, you of all people know that the basis of Fisk's story was foretold by Another over a decade ago. Gold has always been the true suitor of oil. Fekete's latest allows for a final dip when the IMF actually lets go of that fabled 400+ metric tons, but my oh my what a shiny floor that is.
on Tue, 10/06/2009 - 18:50
#90892
You're out of your mind. Fisk was one of the few people to actually be in Afghanistan during the conflict (despite being in his 50s). He almost paid the ultimate price when he was beaten nearly to death with rocks.
Fisk is obviously controversial among Wall St revisionists but his journalism is cutting edge. If you don't like "biased reporting" stick with Fox and drink your Koolaid.
Goldbugs: even when the spot price is $2000/oz you've still got to find a buyer...
on Tue, 10/06/2009 - 11:41
#90176
"imo Mish is a f*cking idiot. I don't think I've ever read anyone so completely naive and foolish about the world as Mish. In fact that's precisely what I quit reading his blog."
PM, totally agree with you. I do not read his after a couple of times.
on Tue, 10/06/2009 - 15:38
#90654
Project Mayhem,
Again you steal my thunder, BTY you can use the "u" in fuck, it's a therapeutic word which in this context needs to be spelled out. Mish, let's make a wish... = Zipper head
"Your in-flight missile mechanic"
geopol
on Tue, 10/06/2009 - 10:15
#90029
Mish is not unlike a brilliant university physics professor -- very intelligent and of course knowledgeable within a certain limited sphere but woefully inadequate and lacking common sense in day to day living. A mere one word is needed to rebut his post on this issue:
Seigniorage
on Tue, 10/06/2009 - 09:55
#89993
I smell squid ink blood all over this spec?
on Tue, 10/06/2009 - 10:14
#90026
I don't know sqworl. I've never known people to want to draw out and prolong rebalancing like this. This is like saying ok the marriage sucks. Let's live together for 10 more years then break up. I mean revaluation HAS to occur in any fractional reserve economy when it get's this wacked. They did it in a day in 1933. It happened in less than 3 months in russia in 1998.
I don't believe SDR's will work unless it's lynchpin is kept to commodities. Where grain and gold and oil become the unabstracted 'currency" but even if they do that. If they continue to run central fractional reserve systems in all the countries we will end up with divorced global entitity that holds complete economic sway over everything in the world. Every country that gets in a war will have to do it solely on currency devalution which means each war severely weakens that country relative to every other country. And with this divorced entitity central banking everything. It will amass huge fortunes from the entire world in a very short time.
on Tue, 10/06/2009 - 12:28
#90242
You mean because the squid is so heavily invested in gold?
The ZH shills are out if full force on this story. Fact is that in 9 years, if and when oil settles against a basket of currencies the USD will be in that basket. The amazing thing is that reader here think this will be some kind of easy feat. Most research done shows that settlement like that is more trouble than it's worth.
This is all nonsense. And the shills bashing other blogs shows a air of desperation, no?
on Tue, 10/06/2009 - 20:17
#90962
You really don't get it. The mere fact that so many fiancial transactions require dollars to complete gives the dollar a back to future hoverboard status. It literally is constantly hovered and propped against EVERY other currency on the market. The only thing that doesn't do that is gold. Where if you buy gold you will fork over huge "transaction costs", shipping and insurance fees, handling fee, buy/sell fee, etc etc. Which means gold is more valuable than dollars when it comes to actually getting your hands on it. The same sort of crap goes on with currencies. If my currency is the Noodle and I want to sell noodles to get dollars i get raped every single transaction. I'll get less dollars than what my noodle "appears" to buy. You can litterally take a billion dollars and sit down with a big enough pipe and trade them back and forth with other currencies until that billion dollars is GONE.
This is the money changer scam. Used for temple coins which all it took was the temple to say we won't accept this kind of coin you have to have that kind of coin and then artificially making "That" kind of coin rare compare to this kind of coin. Everytime you wanted to pay your temple fees you were scammed in the real economy by the money changers. All it takes is any sort of religious or governmental institution demanding one type of currency versus another type and you instantly get this supposed free floating "currency valuation" which just basically means it floats to the point where people put up with it and no further.
This has occurred on a global basis. Just normal buying and selling under the dollar has raped and pillaged the real economies of every country and if you think it's not a big deal then just wait and watch and see how far the people who have the scam working will go to put a stop to any change involving the scam. Just because your so stupid to believe that .85 aussie dollars=1 US dollar when in fact if you sell aussie dollars and buy US dollars it costs you .87 or .89 aussie dollars and if you buy too many and then want to convert some back you don't get .87 aussie dollars or .89 aussie dollars you get back .84 or .82 aussie dollars. And just as the bid/ask spread is manipulated for gold and for stocks and for everything else under the sun it's manipulated for the currencies. So instead of it being a freely discovered price between various levels of hard assed or roll over softies on echange everyone pays what the stupidest person would pay.
So the american way of life. Living off transaction fees is going to be affected. Good luck pretending that won't be a big deal.
on Tue, 10/06/2009 - 09:56
#89994
Make our day you dollar hating, dollar hoarding
mercantilists!
on Tue, 10/06/2009 - 09:57
#89997
this guy is an f'ing moron. Under his title it says "activist". You really shouldn't post "experts" who claim the u.s. is committing genocide in the middle east.
on Tue, 10/06/2009 - 10:05
#90009
And so how exactly would you justify our little tryst into the middle east my friend?! If you can give me a head count of how many Iraqis have died since 2003, I'll give you a lolly pop to suck on while you contemplate your failure at life.
on Tue, 10/06/2009 - 10:14
#90024
altan, I can appreciate your extreme views and sympathize with you in some respects. If you honestly believe that your government is committing warcrimes, I suggest you leave as soon as possible. I know that I could never live in a country that was capable of doing that.
If you talk to a shrink, they could probably give you some pills or advice that will keep you from shooting your mouth off at strangers on an anonymous website.
I'd be interested to see what you do for a living, because I know I'm no failure at life.
on Tue, 10/06/2009 - 10:18
#90037
Fuck you, dildo. This country was founded on Life, Liberty and the Pursuit of Happiness. If you don't subscribe to that credo then why don't YOU get the fuck out, you patsy bastard.
Fuck you and the lifeforms that spawned you.
I am Chumbawamba.
on Tue, 10/06/2009 - 10:23
#90050
Chumba: I thought you had a clue until I read this post. This country was founded by Freemsasons who built Molech the Owl into the street system between the Capitol, the White House and the Washington Monument which by the way, is in perfect symmetry not to the White House but the Scottish Rite Temple. You have been lied to for longer than you think, so be careful who you call a dildo.
on Tue, 10/06/2009 - 11:52
#90191
Anonymous, I thought you had a clue until I read this post. You are a fucking idiot. For a guy who posts so many comments, you sure have nothing to say. Dildo.
I am Chumbawamba.
on Tue, 10/06/2009 - 13:06
#90324
Strangely, I am not offended by your comment. In fact I laughed so hard I nearly pissed my pants.
I am Anonymous (I hope)
on Tue, 10/06/2009 - 19:03
#90906
As a Scottish Rite Freemason, I certainly hope you are right. I am still waiting to be let in on this New World Order conspiracy thang, do all the really cool and exciting satanic stuff, and I am checking my mailbox everyday for that check from George Soros.
Unless, of course, you think the J00Z got the control of the New World Order first? Then I'm shit out of luck!
on Tue, 10/06/2009 - 11:40
#90174
Ok dickfuck, I almost didn't know where to respond to your idiot comments. First, please familiarize yourself with the foreign policy of America for the last 50 years. Tell me, how many legitimately elected leaders did the U.S. assassinate while Nixon was running a hit squad out of DOD and CIA in the period spanning 1950-1960? The answer is 5. I'm sure you would like to go and fucking pop some Xanny's or some shit to dull the drone of bullshit that obviously resides in the back of your mind. Several people have supplied stats on the Iraqi war dead. In response to your comment that I should leave my country because they commit war crimes, you are a coward. What would have happened if MLK had said "fuck it, too many racist people here, time to get my ass to Iceland or something"? Some of us have deep criticisms of the foreign policy that has been pursed nonstop by the U.S. since the end of WW2. However, that doesn't mean we are going to give up and leave. Maybe some of us are waiting around to pick up the pieces after it all falls apart; a Jeffersonian fantasy maybe, but a real patriot find the strength to criticize in the face of overwhelming odds. I don't agree with a lot of things that happen in the U.S., but I love my country, I won't leave, and I look forward to the day we can begin an honest discourse with the rest of the world again. As long as we have a highly aggressive and particularized foreign policy meant to service the fossil fuel and debt oligarchy that rule our country and the world, we shall have chaos. There are other options, other choices to make. In closing, WHO GAVE SADDAM the GAS TO KILL THOSE KURDS?!?! HMMM? IT WAS US JACKASS. See the Iraq Iran war, which lasted a decade, killed millions, and was fueled by U.S. tax dollars.
on Tue, 10/06/2009 - 12:26
#90237
not sure if nixon was behind those hit squads during
the 1950s...it's possible but nixon himself was
removed from office by the cia-oligarchy when he
attempted to formulate foreign policy without
consultation with the oligarchy who were none too
pleased with detente....
the clap trap about the imperial presidency was
oligarchy code for he is not obeying...the president
is not independent but reports to the rockefeller /
rothschild axis of evil....see catherine austin
fitts for different but corroborating information...
obama is a sock puppet for same cabal....
sadam and osama were bush crime syndicate partners
who did not deliver and were wiped out by usa
intelligence and military....al quaeda is a myth....
a convenient lie to extend the police state....
on Tue, 10/06/2009 - 12:58
#90301
Nixon was not removed from office per say; he handed over power. I can make a coherent argument that every president since Kennedy was shot were all shills who were in on the hit either through monetary support or providing personnel. See Bloody Treason, one of my favorite books on the subject, as well as Not in Your Lifetime. Both great books on the subject. The Cartel extends far further than those two banking franchises. Have to remember that conflict is a part of life even at the highest levels of power. The hit on Kennedy was the confluence of a cabal of his enemies coming together. CIA (as the misdirection) DIA, NSA, Mafia, pissed off foreign dictators (but no Castro, the communist angle was the first act in the intelligence head fake to scare people into covering it up for fear of starting WW3 with soviets). Al Qaeda is more than a lie, it is our lie, see picture of Zbignew Brezinski hanging out with Bin laden in the 1970's... And yes when Nixon was Dwights VP, he was personally responsible for the creation and deployment of those hit squads that took out 5 duly elected leaders.
on Tue, 10/06/2009 - 12:52
#90288
I like you post here Altan. Sorry to see you're under attack from Chump-a-wambat.
on Tue, 10/06/2009 - 14:26
#90490
If you didn't have the brain of a sea mollusk you'd follow the thread back and see that Atlan was responding to someone else. I am in agreement with Atlan (at least where this topic is concerned).
I am Chumbawamba.
on Tue, 10/06/2009 - 15:00
#90562
Hey, I take what I can get. This subject should be spun off into a contributor post in itself. Which brings me to another point: I would love to see a new section on ZH where all us Plebians can duke it out for the right to become an official contributor by submitting our pieces for evisceration buy the community at large here. Pleasure to have some responses for once, you the man Chumba.
on Tue, 10/06/2009 - 15:01
#90568
Much thanks, I have a lot to say on this topic, hopefully there will be more opportunity in the future. And might I add my responses might have been more verbose if I wasn't taking notes in class at the same time I was trying to mind my accounts and respond to the rapid fire discourse here.
on Tue, 10/06/2009 - 13:15
#90344
And BTW, I'm not anon mofo, you could come find me if you wanted to.
on Tue, 10/06/2009 - 18:31
#90873
You DO, in fact, live a country that's entire economic and political structure is dedicated to committing war crimes in the name of profit - how else do you rationalize the war in Iraq, based on lies and fabrications, that has caused the deaths of more than a million Iraqi civilians? That's the very embodiment of "war crime."
There's nothing "extreme" about refusing to live in denial. Don't forget to pack a sweater, Whizbang.
on Tue, 10/06/2009 - 10:15
#90020
1 million dead innocent civilians counts as 'genocide' in my book.
Wrecking Iraq: One Million Dead, 2 Million Wounded, 3 Million Displaced
http://www.counterpunch.org/ferner05112007.html
on Tue, 10/06/2009 - 10:15
#90030
please provide a more reputable source for your data. I just found a citation providing information on creating a time machine.
Thank You
on Tue, 10/06/2009 - 10:19
#90039
Please go fuck yourself with a dead Iraqi infant.
I am Chumbawamba.
on Tue, 10/06/2009 - 10:21
#90041
Can you read , you fucking idiot? JOHNS HOPKINS.
"This summer will be one year since researchers from Johns Hopkins University collected data for a study which concluded 655,000 additional deaths were caused by the military war, and things have only gotten worse since then. Then consider that the economic war killed an additional 500,000 Iraqi kids under the age of five during only the first seven years of sanctions which were in force for a dozen years, according to a 1999 U.N. report."
Anyway I'm out, I have better things to do than deal with internet trolls who have been so completely demoralized they can no longer tell right from wrong.
You reap what you sow.
on Tue, 10/06/2009 - 10:30
#90068
You're better than that PM. The sanctions killed people because the monster Saddam wished it so. Folks need to be careful because sometimes there are no players deserving of defense. The UN's criminal profiteering via Food-for-Oil also worked against the repressed civilian populace.
on Tue, 10/06/2009 - 11:54
#90198
Oh shut up. I'm so tired of these wacky conspiracy themes always popping up. Saddam was our ally as long as he was useful for the US narrative. Once the narrative changed he became our Worst Enemy. Dimwitted morons perpetuate silly arguments like this.
Without the US there would not be Saddam Husseins, Osama bin Ladens, or Israel.
I am Chumbawamba.
on Tue, 10/06/2009 - 10:57
#90102
Your relying on a "study" by an antiwar group. But in current university thinking all studies are of equal value and we should't be judgemental.
on Tue, 10/06/2009 - 11:55
#90199
It's called science. Look into it.
I am Chumbawamba.
on Tue, 10/06/2009 - 10:32
#90071
Troll; and not just that, US GOVERNMENTS are committing war crimes for the last 50 years; and as a result of those crimes more than 100 000 000 people suffered DIRECTLY from the actions of the US GOVERNMENT: now fuck off and go suck on some dick ( chaney ) you retarded neo-con pussy.
on Tue, 10/06/2009 - 16:24
#90728
Cheeky Bastard,
You need to learn to come out of shell.
Sadam told the world he was starting an oil bourse in euros and the American Empire said no fucking way you are. CIA, Cook up some shit about, let's say, weapons of MASS DESTRUCTION as a pretext to hang the prick. U.S. Dollars only in Iraq, if not, see the results.
Highways destroyed
Water treatment plants destroyed
Electric facilities destroyed
It's not our intention to stay here, no everybody builds a 1 billion dollar embassy in a place they are leaving.
Your tiring me out you fucking PNAC, Sam Huntington, Leo Strauss.
Cheeky Bastard, Your right, he should suck on some......
on Wed, 10/07/2009 - 05:16
#91159
geopol, thank you for your explanation; but, sadly, i know all of this, and much more ....
on Tue, 10/06/2009 - 10:45
#90091
What reputable source would you suggest? The Department of Defense?
Iraqi dead are not counted as a matter of policy. Why?
If politicians and bureaucrats have shown themselves without exception to be nothing but a bunch of liars, incompetents, and thieves when it comes to the world of finance, do you really believe the same does not apply to the war racket?
Trust me, it is immeasurably, unfathomably worse.
Unwrap that colorful rag from around your ass and wake the fuck up.
on Tue, 10/06/2009 - 12:31
#90246
I could not have said it better, Sir.
on Tue, 10/06/2009 - 10:29
#90062
Fine, but it is wrong to say that the US military directly killed that many people. The removal of the Baathists from control allowed a lot of old scores to get settled. I was no fan of the invasion and I spoke vehemently against foreign invastion, including Afghanistan. But I won't sit here and hear even more lies told--the US did not directly kill all those people. It is on our hands indirectly, but it is not the same as what Stalin did, for example.
Also, the war between Iraq and Iran was far more bloody and foolish. And the US fueled that one as well. Saddam was a US puppet until he went rogue. The point is, war is big business and those other countries (the ones not getting invaded) are making bank off of them one way or another. Including Russia and China. So WTF?
on Tue, 10/06/2009 - 11:59
#90203
No, they did not "directly" kill "all" those people, but the ones they did directly kill are a stain on my conscience--and yours, btw, you fuck.
If you want to get into piddly-assed games of counting individual kills so we can be sure to have a clean scorecard then go ahead. The fact is once you kill one innocent person you've killed everyone.
You are direly uninformed. Please don't comment on matters about which you know little.
I am Chumbawamba.
on Wed, 10/07/2009 - 05:25
#91161
Chumbawamba, weirdly, i like your style, and your approach to matters like this; keep it up m friend, obviously you wear your heart on your sleeve when it comes to things like this and i like that very much ... +100 for your comments ...
on Tue, 10/06/2009 - 09:59
#90000
Does anybody care what Max Keiser says?
on Tue, 10/06/2009 - 10:19
#90044
Yes, because he's correct.
I am Chumbawamba.
on Tue, 10/06/2009 - 10:28
#90061
I do...a lot. He was the first guy to point out Iceland's pending collapse almost 1-2 years before it happened, among many other things.
on Tue, 10/06/2009 - 09:59
#90001
One thing's for sure, I think what's happening today in the stock markets is madness - the UK Production figures were negatively well adrift of forecasts and yet, because Australia says things are getting better, the stock indices are all up, FTSE heading for 2% UP. This is crazy.
And yes, I took a short position basis the figures...
DavidC
on Tue, 10/06/2009 - 10:00
#90002
Hiding in worthless equities is no way to go through life son.
on Tue, 10/06/2009 - 10:32
#90072
Buy Gold then.
on Tue, 10/06/2009 - 11:14
#90123
nice.
on Tue, 10/06/2009 - 10:03
#90006
What is really more valuable? Food or oil.
on Tue, 10/06/2009 - 10:12
#90019
Foil aka tin foil
on Tue, 10/06/2009 - 10:16
#90033
You can't have food without oil unless we all go back to the farm.
on Tue, 10/06/2009 - 10:25
#90056
Loaded question. You can always make vegetable oil from "food". You really can't do the inverse, unless you are into plastics as a dietary supplement.
on Tue, 10/06/2009 - 10:31
#90070
I could always eat him/her. I need oil to manufacture the weapon.
on Tue, 10/06/2009 - 11:12
#90121
we like slingshots:
just wood & rubber
no oil needed
on Tue, 10/06/2009 - 16:33
#90743
I spent a lot of time working the land. Something like 5% of the US population feeds the other 95%, and part of the world in the bargain. Made possible by... cheap energy -- oil (fuel), coal (electricity) and natural gas (fertilizer and electricity).
You cannot (in America anyway) make food without oil, not unless you empty the cities and return 100 million people to the land. Pol Pot tried that in Cambodia. Epic fail.
We will become agrarian again, in time. The only energy in the universe that you can count on is the sun, and the best solar collectors we know of are all plants.
I'd give this whole post-industrial-clusterfuck another 2 decades, then the jig is up.
cougar
on Tue, 10/06/2009 - 10:03
#90007
Do I believe the US is headed to a cliff in terms of its future, the dollar, and economy....yes. Do I believe this guy is a complete whacko....absolutely.
on Tue, 10/06/2009 - 16:39
#90755
That doesn't make a lot of sense. Unless you are keying on his politics.
There are truths. There are lies. They both come in different wrappers but the wrappers don't count so much.
During an end-game you take what signal you can glean over the noise, and you pay less attention to the wrapper it comes in. Past the event horizon of the end of the game the rules are going to change anyway and you won't recognize a single thing; then the wrappings will truly mean nothing and you'll be looking for signal like it were manna in the wilderness.
cougar
on Tue, 10/06/2009 - 10:03
#90008
yes the dollar is increasingly resembling a roll of Charmin and yes the Shanghai cabal is likely doing everything possible to hedge their dollar risk and undermine US power...but I could've done without his Michael Moore-ish military industrial complex lunacy...
on Tue, 10/06/2009 - 12:04
#90210
the "lunacy" is yours. see: Confessions of an Economic Hit Man by John Perkins (a former economic hit man).
on Tue, 10/06/2009 - 10:07
#90010
oil
on Tue, 10/06/2009 - 10:07
#90011
I question Keiser's potential bias given his connection with Iran's Press TV.
on Tue, 10/06/2009 - 10:24
#90053
And his apparent fondness of 13 year old girls.
It's going to be tough for him to win my confidence back.
on Tue, 10/06/2009 - 12:00
#90204
That's Roman Polanski.
I am Chumbawamba.
on Tue, 10/06/2009 - 14:41
#90526
Yes Chumba, but defended by Max.
on Tue, 10/06/2009 - 17:17
#90797
Who cares.
I am Chumbawamba.
on Tue, 10/06/2009 - 14:42
#90530
LOL! But let me guess, you never question the bias of all the people that appear on American TV though, right?
on Tue, 10/06/2009 - 16:43
#90759
If by this you mean you are have complete trust in US media, then I'm afraid you have not been paying very close attention.
Nothing personal. Not many are paying close attention. Most here, are.
cougar
on Tue, 10/06/2009 - 10:13
#90012
HAHAHAHHAAAHAHHAAHAHAHAA...LET THE GAMES BEGIN!!!!
Note to Equity Market Daytrading kids: Please leave the room and let the adults play now.
on Tue, 10/06/2009 - 10:30
#90065
no kids, keep playing!
(we need mo dead money in the game)
on Tue, 10/06/2009 - 10:09
#90014
Unrelated but Andrew Ross Sorkin's snipped from his new book on the cluster**** that was the situation a year ago is quite interesting. Watching Goldman and Morgan scramble for their lives is always good theater.
http://www.vanityfair.com/business/features/2009/11/too-big-to-fail-exce...
on Tue, 10/06/2009 - 10:39
#90081
That's the biggest pile of bullshit story I've ever read in my entire life. It was like a million screenwriters begging me to suspend disbelief through that entire piece of crap.
on Tue, 10/06/2009 - 14:32
#90505
Makes for a good bird cage liner, other than that its useless trash.
on Tue, 10/06/2009 - 10:10
#90016
When USD is tanking, I understand why the commodity complex goes up but why would you (foreigners) buy up US stocks knowing that you lose on the FX? Being up 2% means jack when the dollar is getting pummeled as we speak. Something is truly not right here and this week's rally is worse than the previous 6 months.
on Tue, 10/06/2009 - 10:14
#90027
The USD is getting pummeled harder than is apparent, as it is getting slaughtered in currencies that aren't in USDX.
http://www.netdania.com/Products/live-streaming-currency-rates-foreign-e...
on Tue, 10/06/2009 - 10:16
#90032
Fucking Bingo.
on Tue, 10/06/2009 - 10:30
#90066
+1
on Tue, 10/06/2009 - 10:16
#90035
I am an American citizen and all I can say is that it's about fucking time.
on Tue, 10/06/2009 - 11:02
#90107
Right on.
on Tue, 10/06/2009 - 10:19
#90040
Divided States,
Buying up stocks is also an indirect way to buy up real value producing assets. Though that does not explain the financials doing so well. On that front, I would say you buy those stocks because they get the free money first, before it funnels down, if ever, to the larger economy.
on Tue, 10/06/2009 - 10:20
#90047
exactly, Divided States. When the dollar has no purchasing power, everything denominated in it is worth less. A weak dollar isn't good for anyone. It makes imports more expensive, and so it hurts China and all of the other exporting countries. Things will end badly for equities.
on Tue, 10/06/2009 - 10:25
#90054
There are SO MANY dollars out there - held by foreigners - that everytime there is mention of diversifying with some other currency, death is proclaimed on the dollar. PUHLEEEZZZZ... if the dollar dies, what takes over? It ain't the euro folks! Let's keep things in context and take advantage of a great medium term trade here:
short AUD
long bonds
short commodities
and yes, even short US equities!
All these markets are working on machine correlations which will - as usual - blow up in fantasmic fashion. Wait and see...
on Tue, 10/06/2009 - 11:00
#90106
I agree, but the trend is your friend...until it isn't. Well, it's not actually a friend but a steady drinking partner who is always a bit crazy but cool nonetheless until one day he gets a 'Nam flashback and breaks a bottle on your face in a matter of seconds.
on Tue, 10/06/2009 - 11:04
#90108
GOLD.
on Tue, 10/06/2009 - 12:02
#90207
Duh.
I am Chumbawamba.
on Tue, 10/06/2009 - 13:24
#90369
2 bonafide goldtards. But it's getting very OLD. Very old!
on Tue, 10/06/2009 - 14:28
#90493
Awww, someone was on the wrong side of a short. So sad.
I am Chumbawamba.
on Tue, 10/06/2009 - 14:33
#90507
HAHAHA, too funny
on Tue, 10/06/2009 - 15:35
#90649
Someone was on the wrong side of a short? If you're short you're short, if you're long then you're long. Please explain how you can be on the wrong side of a short? Shorts have multiple sides? Like short-a and short-b? Please enlighten me.
But you couldn't be further from the truth. Your constant assumptions and inaccuracies show your lack of knowledge.
Could it be possible that you and your gold pumptard buddies are just getting annoying to some people?? Maybe.
on Tue, 10/06/2009 - 17:22
#90802
Surely you are not so dense? The wrong side of a short = YOU LOST YOUR ASS ON A GOLD BET.
It sure does seem like you're annoyed. Not sure why you're dumping on me. I don't set the price of gold. I just bought early and waited.
In case you didn't hear, gold closed at $1,041.80 on the Crimex. +$24.60 for the day. That's a new record close.
Did I mention that gold settled at a record price today? Yep, $1,041.80. Stacked up like a turgid cock, about $20,000 can fit into your mouth. If you can deep throat, $30,000.
I am Chumbawamba.
on Tue, 10/06/2009 - 14:48
#90539
hopefully, oil.
on Tue, 10/06/2009 - 10:27
#90059
Robert Fiske new video
http://www.youtube.com/watch?v=CBDPGkW6SCU
on Tue, 10/06/2009 - 11:15
#90125
Fisk makes a great point about the ME at about 6:00 in.
on Tue, 10/06/2009 - 10:29
#90063
You want a weak dollar, Ben? Do you really want a weak dollar? We'll give you a week dollar. Teee heee heee
on Tue, 10/06/2009 - 10:30
#90067
China's financial state is IMO much worse than is apparent. Also, they have lost a LOT of face in their bad SWF investments. They are not going to trash the dollar anytime soon and trash their foreign currency reserves as well. Yes, they might (and are) trading paper for commodities, but they are not going to do anything dramatic for years out.
on Tue, 10/06/2009 - 11:52
#90192
Ya, well.., who's to say?
Sometimes circumstances dictate a change in plan. Maybe they will be persuaded to suffer short term if the opportunity to swiftly defeat a long term foe presents itself. And boy, are we ever setting ourselves up for a quick end. Fiscal leaders and American banksters keep flipping the bird to the rest of the world, and yet, we have a current administration that probably won't have the stomach to use the MAD option if the BRICs decide to strike.
Oh what a tangled web we weave..
on Tue, 10/06/2009 - 16:56
#90778
Sun Tsu would have said something like:
"If your opponent has a strong military, make them devalue their currency. Do nothing with your currency nor push your economy hard, but invest in resources and wait. Where their economy is weakest push them and they will fold without a fight. In this way is war fought in economic terms. It is best not to fight with economies for the people suffer and there are long term problems. However if you must wage economic war be formless yourself and make your enemy take forms of weakness. Then swiftly crush their hope for recovery. This is called making the enemy happy to cut his own throat."
cougar
on Tue, 10/06/2009 - 22:02
#91050
Does that Sun Tsu dude have a blog or something? I'd love to read it. He sounds rather smart.
Hilarious, right from the Chinese textbook on warfare. It was there for all to see......
From what I read most of China's manufacturing is in the interior, which feeds the country. Its doing well. The coast is export oriented and hurting bad. They are shifting to domestic production. At least thats what the media tells me.
on Tue, 10/06/2009 - 10:31
#90069
USD monthly chart indicators are still giving bullish divergence.
www.zerohedge.com/forum/market-outlook-0
on Tue, 10/06/2009 - 10:36
#90075
Yeah, used to put a lot more credence in Max until I listened to Stacy and he on their "Truth About Markets" podcast. Max said that the reason we don't have health care reform in the US in because the country is racist.
Those of you who want to tear down the Fed and the Ponzi economy --- Don't assume that people who say what you say share your motivation for saying it.
I am not Choomawoomba.
on Tue, 10/06/2009 - 11:26
#90145
Please use a spellchecker. The operative term for our times is spelled with five "a's." As in, "raaaaacist."
on Tue, 10/06/2009 - 17:04
#90784
But if he said that, then he's right.
I'm white, I have health insurance, and I say he's right.
The politics of race, wealth and privilege will not be unwound in the United States of America, at least not easily and certainly not on accident. Anyone thinks they can tackle each apart from the others simply is not paying attention and has learned nothing from the 200 years of US history, and the 800 years of Western history since the Middle Ages.
cougar
on Tue, 10/06/2009 - 10:36
#90076
I smell a rat. I see a set up. Long gold. Turn around. short gold. Watch the paper (gold derivatives). Watch the physical. Paper nearing bubble territory. Do as the squid does. Dont fight the squid.
on Tue, 10/06/2009 - 10:39
#90080
Holy crap what just happened to gold - now at $143/ounce?
on Tue, 10/06/2009 - 10:55
#90100
edit - make that $1043/ounce
on Tue, 10/06/2009 - 13:33
#90389
I smell a market blow off/short covering.
on Tue, 10/06/2009 - 10:42
#90087
Who could of guessed that outsourcing the manufacturing base to China, outsourcing the office jobs to India, and outsourcing foreign policy to Israel would hurt the U.S.?
on Tue, 10/06/2009 - 11:51
#90190
I saw this during Reganenomics and the NAFTA sucking sound era.
on Tue, 10/06/2009 - 12:05
#90214
Sweet!
I am Chumbawamba.
on Tue, 10/06/2009 - 17:08
#90788
That's called "a colonial policy for economic growth" and it's working out as well for us (in the US) as it did for the British when they gave it a go.
Works great for a while, until the colonials get their undies in a bunch, which is right after they realize they have their erstwhile masters by the left one.
Much merriment ensues.
cougar
on Tue, 10/06/2009 - 10:47
#90092
Commod prices up...Check Gold up...Check Dixie down...Check
Keep play'n the deflation thesis...Right!
on Tue, 10/06/2009 - 10:58
#90104
This is the dumbest video I've ever seen. Did anyone actually listen to what that moron was saying?
on Tue, 10/06/2009 - 12:06
#90218
No, I was too busy staring at his tits.
I am Chumbawamba.
on Tue, 10/06/2009 - 20:05
#90952
@ chumbawamba,
Could you please find another blog to troll? I find you very distracting. You have absolutely nothing to offer here, are you the same guy who maxed out your credit cards, and now, your not paying?
I picture you as a 12 year old locked up in a detention center in lower Mississippi.
Go away.
on Tue, 10/06/2009 - 11:07
#90112
There's no such thing as a phoney war if bombs are dropping on your house killing your family or bullets are whizzing by your head, or an IED is blowing your arms and legs off.
Another propaganda puff piece to disparage the mighty American Military Evil Empire.
Why doesn't he just come out and say it.....
'America, die already, why don't you'.
Anyway, Obama is the messiah, we have a green shoots 'V' recovery and everything is alright with the world.
Don't worry bee happy!
on Tue, 10/06/2009 - 11:32
#90156
Moe thinks Max is dead on the button.
The world is tired of the USA and it's greedy crap.
Moe is tired of it also.
on Tue, 10/06/2009 - 11:33
#90157
Regardless of his radical views.to his credit,he has been saying that the dollar will be destroyed. And so is Jim Rogers. And I tend to believe that Jim Rogers probably has an insider knowledge of the fed plans,as I am sure that through his career he has a friend or two from the insiders.And that is what kept me from tilting toward Prechter's strong dollar and credit destruction thesis. Even though possibilities of the market tanking (in real term)still there. Just imagine a worthless dollar,and all the foreign investors pulling out of the market scenario.
on Tue, 10/06/2009 - 11:37
#90168
It is harvest time folks!
on Tue, 10/06/2009 - 11:53
#90197
better get that corn in before it freezes on the stalk.
on Tue, 10/06/2009 - 11:43
#90180
>>gmrpeabody:I tried to find anything connecting Max Keiser to a 13 yers old girl,but there is nothing. Any proof to that?also might you be mixing him with Polanski(a fikm director who lives in France)?and if there is such an allegation when did come out?
on Tue, 10/06/2009 - 12:47
#90275
El dude was referring to Keiser's opinion that Polanski shouldn't be extradited because the girl doesn't want to press charges, it was already settled out of court, etc...
on Tue, 10/06/2009 - 12:05
#90216
Lost a little respect when maxie called afghanistan a phoney war.
on Tue, 10/06/2009 - 12:14
#90228
I do not have the figure for the total amount of GOLD in the world but I guess the price would have to be in $Million to have to replace all the currencies. Think about it.
on Tue, 10/06/2009 - 15:40
#90659
You're thinking about it the wrong way. Everybody is so conditioned into thinking that the gold would have to first be "converted" into some fiat currency.
Riddle me this.
How much is an ounce of gold worth in Zimbabwe currency?
Answer:
It doesn't f-ing matter, however 0.1 grams of it will buy you a loaf of bread there.
Does it matter if it's 1 Trillion Z-Dollars or 100 Trillion Z-Dollars an ounce?
Prices will simply adjust from (x) dollars to (x) ounces. The great thing is that it will happen rapidly and all on it's own.
Fantastic video if interested.
http://www.vimeo.com/3722256
on Tue, 10/06/2009 - 12:43
#90266
The U.S. is insolvent, bankrupt under any objective rational analysis. Our ad hominem debt-to-infinity money print factory notwithstanding, our hour of reckoning cometh like the dawn. It is as inevitable as the passing of time. This psychological concept we conceived in that long ago age when our reason became hoodwinked will be evaporated as quickly as one blows out a candle and there will be nothing left but blood in the streets. Hang on to that irrational folly of value media which man calls his sacred dollar as long as you wish. A fool and his money soon part.
on Tue, 10/06/2009 - 15:41
#90662
Bingo.
Very nice.
on Tue, 10/06/2009 - 17:17
#90800
Do not underestimate the invigorating properties of warfare.
Though it needs to be a big one to really pull you up.
And big ones are much easier to start and manage than little ones, in case you were confused on that one.
Our 2012 general election here in the US will be fascinating to watch.
cougar
on Tue, 10/06/2009 - 12:54
#90290
What would Max Keiser know about geopolitics and currency death knells?
on Tue, 10/06/2009 - 14:56
#90553
Sorry, but the financial war started on 9/11/01
on Tue, 10/06/2009 - 15:03
#90574
You mean the 9/11 when building 7 fell and took down the SEC enforcement office and the artiste' formerly known as Solomon?
on Tue, 10/06/2009 - 15:39
#90657
It is my contention that the US financial structures broke without any remote potential for repair and revival in the summer of 2007. The symptoms became obvious in the summer of 2008 to the slower observers with visible shock waves bathed in crisis. The reactions from shock waves have come since the autumn months of 2008. The system has broken, but the syndicate in control wishes to keep the music going, keep the machinery turning, keep the money flowing, so that they can continue the massive rackets, bury the frauds & counterfeit, cover their tracks, process the bad paper into USGovt coffers, continue to corner the printing press operations, continue to con the USCongress into granting more funds for Goldman Sachs to dictate dispensation secretly, and to continue the endless war whose rivers of blood are matched only by rivers of redirected private contractor fraudulent payments. Nobody seeks justice and prosecution for over $1 trillion in mortgage bond fraud. Nobody seeks to remove Goldman Sachs and JPMorgan from control posts at the USDept Treasury and USFed respectively. Nobody seeks even to locate the missing $50 billion from the Iraq Reconstruction Fund, or to announce the known location of the stolen $100 billion from the Madoff Ponzi Scheme (it aint $50B and they know its exact hiding place). Foreigners have been very busy since the autumn 2008, as they dismantle the levers, knock down the pillars, block the escape routes, yank the collateral from the paper marketplaces, and otherwise thwart the US-UK schemes.
http://www.321gold.com/editorials/willie/willie100209.html.
on Tue, 10/06/2009 - 16:08
#90711
russia today! (state-funded btw)
max loses me with all his rambling...
on Tue, 10/06/2009 - 21:48
#91041
He forgot to mention that central bankers also like financing wars to make lots of money for themselves. It's happened throughout history. Bernanke and Geithner are in on it. They just cannot admit it since the American public would be outraged if the true agenda became known.
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