In this episode, Max Keiser and Stacy Herbert discuss the water and fire signalling the arrival of the paper apocalypse as ever more analysts warn of the debt and credit bubble as governments put their faith in share traders who, a new study shows, are more manipulative than psychopaths. In the second half, Max Keiser talks to professor and economist, Steve Keen, about the fiscal cliff and private sector deleveraging. They also discuss the possibility of a currency collapse in Japan.
Category Archives: economy
Black Friday, Fiscal Cliff, Gold, Dollar – Peter Schiff
The Schiff Report
Black Friday – November 23, 2012
Keiser Report: Shadow Banking (E370) – YouTube
In this episode, Max Keiser and Stacy Herbert ask, “who knows what evil lurks in the heart of the global financial system?” And find the answer is that “the Shadow banking system knows!” The shadow banking system has grown to $67 trillion and has the power to cloud men’s minds so they cannot see the fraud. In the second half, Max Keiser talks to Jan Skoyles of the Real Asset Company about clients wanting to park their gold in Singapore and about what is happening in the gold market in China
Keiser Report: Twinkies, Finance, Scandal (E369) (3rd Anniversary Edition) – YouTube
In this episode, Max Keiser and Stacy Herbert present a success story for the three year anniversary of the Keiser Report and that is that the banksters are going the way of Twinkies, Ho Ho’s and Ding Dongs – OUT OF BUSINESS! And just as the junk food and fake bread of the Hostess products caused obesity and diabetes in Americans, so too did the junk bonds and toxic derivatives of the bankers and central bankers cause a flabby, obese and diabetic finance sector in London and New York. In the second half, Max Keiser talks to Ross Ashcroft, writer and director of FOUR HORSEMEN, about why many people didn’t see the financial crisis and what can be done to regain control of the financial system.
via Keiser Report: Twinkies, Finance, Scandal (E369) (3rd Anniversary Edition) – YouTube.
Martin Lewis: It’s time to ban Christmas presents – Telegraph
Is it time to ban Christmas presents? Across the country people are growling at the enforced obligation to waste money on tat they can’t afford, for people who won’t use it. Festive gift-giving has lost its point, risks doing more harm than good, mis-teaches our children about values and kills the joy of anticipation of what should be a joyous time.
Before you think this is just curmudgeonly bah-humbug, this rant isn’t about presents under the spruce from parents or grandparents to children or spouses. It’s about the ever-growing creep of gifts to extended family, colleagues, children’s teachers and more.
I first braved this subject on my website back in 2009, expecting a snowstorm of protest. Instead, many people joined my call to arms, relieved they were not alone in their distaste for the gifting ritual.
The next year, I polled 10,000 people on whether we should ban presents. Seven per cent said ditch all of them, 30 per cent said to all but children, and a further 46 per cent said limit it to the immediate family. Fewer than one in five supported giving beyond that.
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via Martin Lewis: It’s time to ban Christmas presents – Telegraph.
Europe Is Now Sinking Fast | Peak Prosperity
With the Eurozone having being displaced from the financial headlines by the American presidential election, you might have briefly thought that its problems had gone away. They haven’t.
It’s just that the public is expected to absorb one major story at a time. And now that the presidential election is done and dusted, Europe is rapidly returning to the headlines. This is not desired by the powers-that-be, who desperately need us to believe things will get better with a little patience.
Behind the scenes, in order to prevent a systemic crisis, the authorities (through the European Central Bank) have been hard at work keeping a lid on interest rates for Spain and Italy, which act as everyone’s market bell-weather. Their strategy focuses on the hope that high bond yields are just a lack of ‘animal spirits’ — and if only they can be reignited!
Time is working against all countries in the Eurozone, because the good are being dragged down by the bad.
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What Marc Faber Said to the LBMA About Gold | Gold News
One by One, States are Ending the War on Property « economicharmonies
Truthdig – Elites Will Make Gazans of Us All
Posted on Nov 19, 2012
By Chris Hedges
Gaza is a window on our coming dystopia. The growing divide between the world’s elite and its miserable masses of humanity is maintained through spiraling violence. Many impoverished regions of the world, which have fallen off the economic cliff, are beginning to resemble Gaza, where 1.6 million Palestinians live in the planet’s largest internment camp. These sacrifice zones, filled with seas of pitifully poor people trapped in squalid slums or mud-walled villages, are increasingly hemmed in by electronic fences, monitored by surveillance cameras and drones and surrounded by border guards or military units that shoot to kill. These nightmarish dystopias extend from sub-Saharan Africa to Pakistan to China. They are places where targeted assassinations are carried out, where brutal military assaults are pressed against peoples left defenseless, without an army, navy or air force. All attempts at resistance, however ineffective, are met with the indiscriminate slaughter that characterizes modern industrial warfare.
In the new global landscape, as in Israel’s occupied territories and the United States’ own imperial projects in Iraq, Pakistan, Somalia, Yemen and Afghanistan, massacres of thousands of defenseless innocents are labeled wars. Resistance is called a provocation, terrorism or a crime against humanity. The rule of law, as well as respect for the most basic civil liberties and the right of self-determination, is a public relations fiction used to placate the consciences of those who live in the zones of privilege. Prisoners are routinely tortured and “disappeared.” The severance of food and medical supplies is an accepted tactic of control. Lies permeate the airwaves. Religious, racial and ethnic groups are demonized. Missiles rain down on concrete hovels, mechanized units fire on unarmed villagers, gunboats pound refugee camps with heavy shells, and the dead, including children, line the corridors of hospitals that lack electricity and medicine.
The impending collapse of the international economy, the assaults on the climate, the resulting droughts, flooding, precipitous decline in crop yields and rising food prices are creating a universe where power is divided between the narrow elites, who hold in their hands sophisticated instruments of death, and the enraged masses. The crises are fostering a class war that will dwarf anything imagined by Karl Marx. They are establishing a world where most will be hungry and live in fear, while a few will gorge themselves on delicacies in protected compounds. And more and more people will have to be sacrificed to keep this imbalance in place.
Because it has the power to do so, Israel—as does the United States—flouts international law to keep a subject population in misery. The continued presence of Israeli occupation forces defies nearly a hundred U.N. Security Council resolutions calling for them to withdraw. The Israeli blockade of Gaza, established in June 2007, is a brutal form of collective punishment that violates Article 33 of the Fourth 1949 Geneva Convention, which set up rules for the “Protection of Civilian Persons in Time of War.” The blockade has turned Gaza into a sliver of hell, an Israeli-administered ghetto where thousands have died, including the 1,400 civilians killed in the Israeli incursion of 2008. With 95 percent of factories shut down, Palestinian industry has virtually ceased functioning. The remaining 5 percent operate at 25 to 50 percent capacity. Even the fishing industry is moribund. Israel refuses to let fishermen travel more than three miles from the coastline, and within the fishing zone boats frequently come under Israeli fire. The Israeli border patrols have seized 35 percent of the agricultural land in Gaza for a buffer zone. The collapsing infrastructure and Israeli seizure of aquifers mean that in many refugee camps, such as Khan Yunis, there is no running water. UNRWA (the United Nations Relief and Works Agency for Palestine Refugees in the Near East) estimates that 80 percent of all Gazans now rely on food aid. And the claim of Israeli self-defense belies the fact that it is Israel that maintains an illegal occupation and violates international law by carrying out collective punishment of Palestinians. It is Israel that chose to escalate the violence when during an incursion into Gaza earlier this month its forces fatally shot a 13-year-old boy. As the world breaks down, this becomes the new paradigm—modern warlords awash in terrifying technologies and weapons murdering whole peoples. We do the same in Afghanistan, Iraq, Pakistan, Yemen and Somalia.
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