March 29, 2009
– Comments (12)
This guy would NEVER make it on American News Shows......
Special shout out to Sinchy....I have little doubt metals might play a role in a future global currency....now the question is at what value and weight will it be pegged and play in such currency.
I love mad max. Hes been around mouthing off about this crap for a long time. Sadly, he goes mostly ignored
i agree 100% ...back dating stock options is the biggest fruad of our time!
If people really knew what back dating stock options means they would put these guys in jail.
He is absolutly right when he says it's like counterfitting money. Back dating is like saying my dollar now should be worth what it was 30 years ago, so give me 2.5 dollars.
the guy comes off as crazy to those who haven't been exposed to him. i was a first, and despite me agreeing in general with his stances, i definitely got a crazy vibe from him - interruptions, raised voice, jumping around on talking points. he could have atleast talked through on how goldman sachs can heavily influence the US central bank policies by being a very large member financial institution but he didn't. how's the lay person going to catch on to his arguements?
to convince the world to change its attitudes, beliefs, and correcting twisted facts, max keiser wouldnt be the person Id put on top of my list for this task.
SuperPicks you are right that he comes off as crazy. He seems not to have the DEPTH in what he is saying.
I think there is a reason why he doesn't go into great depth, because no one knows the depth.
Once Gold money was out, we had a chaos. Things are now inter-related to a wider degree.
Just imagine: people's hard earned IRA and 401K's money is linked to this crazy stock market.
And people in power are not giving us the details we need, or they themselves don't knwo what is going on.
The CEO of Citi was on Charlie Rose 2 months ago. He had no idea about the actual numbers when he was asked about it.
So a guy like Max may seem crazy but he has excellent points. One of his main point is that this system is corrupt and sick beyond any repair and we need something like a revolution to fix this.
The problem is the U.S. is too big of a country for any revolution and people will revolut in their own ways: not buying cars, walking more instead of driving, starting small communities, going back to small businesses, and so on
One thing is sure the rich will stay rich or even richer after this whole thing is over.
Thanks for the shout-out. I do hope we go back to a global sound-money financial system with some sort of peg to real assets, but given the state of the USD I suspect USA (and Britain) will fight that development tooth and nail. There is aversion in the rest of Western Europe to continued calls for global stimulus, so one begins to sense a schism developing between Europe and USA / Britain over this currency crisis. I feel no sense of foreknowledge of exactly what currency regime will emerge to replace the USD as global reserve asset, but I feel pretty sure the SDR proposal will provide little more than a temporary fix given the derivatives issue.
Max Keiser often has some solid points to make.
Now this could help the SDR's viability, although I still view the need for derivatives to back issuance of SDRs as making that alternative wholly unappetizing from a standpoint of global systemic risk.
Under the scenario proposed by Russia below, the price peg for gold would depend entirely upon the other constituents of the basket. It sounds ludicrous to me, though, to have gold and fiat currencies shares within a currency basket, since the intelligent nation would seek to settle most transactions in gold, thereby hindering the liquidity of fiat constituents.
If the world ever did adopt a pure gold standard, something I view as practically unobtainable, the price peg would be in the many thousands of dollars. Using a basket of metals could ameliorate that effect, but silver, for example, would then jump into the many hundreds of USD. All pure speculation at this point, but it's all very interesting to consider.
Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund.
Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal.
Mr Dvorkevich said it was "logical" that the new currency should include the rouble and the yuan, adding that "we could also think about more effective use of gold in this system".
The Gold Standard was the anchor of world finance in the 19th Century but began breaking down during the First World War as governments engaged in unprecedented spending. It collapsed in the 1930s when the British Empire, the US, and France all abandoned their parities.
It was revived as part of fixed dollar system until US inflation caused by the Vietnam War and "Great Society" social spending forced President Richard Nixon to close the gold window in 1971.
The world's fiat paper currencies have lacked any external anchor ever since. It is widely argued that the financial excesses and extreme debt leverage of the last quarter century would have been impossible - or less likely - under the discipline of gold.
Russia is a major gold producer with large untapped reserves of ore so it has a clear interest in promoting the idea. The Kremlin has already instructed the central bank of gradually raise the gold share of foreign reserves to 10pc.
China's government has floated a variant of this idea, suggesting a currency based on 30 commodities along the lines of the "Bancor" proposed by John Maynard Keynes in 1944.
He speaks like the common person.... No B.S....... sounds honest and realistic and that bothers people....
That's why he is ignored!
Alstry! Glad to see your life vest is holding up out here at sea, man! Toss me one of those government baloney sandwiches if you can. LOL!!
I'm still reading many of your posts. There are lots of good things happening too.
I’ve taken on a new job and I’m monitoring a commercial RE portfolio, so I haven't had the time to research and respond in length like I wish I could; however, I love reading your posts! I really enjoy reading them mainly because we see eye to eye on many things, and you seem to have the same practical-sarcastic-logic-no-nonsense tone that I usually use when talking to folks about this mess.
One thing that I am going to increasingly wonder as this year rolls on is....Since my good friend Alstry spotted this mess in 2005 (or at least began posting thereabouts) and has posted for 3 years on how bad it would get (before the average consumer realized it)....will the Alstry be 3 years early on the upside too? Time will tell =)
BTW, I have no doubt that you will not miss the boat when it's time to sail again...but in my mind...that 3 year period to good times is fast approaching. 2012 anyone? Land ho!
I apologize guys for the quadruple post. I'm really pretty technically savvy, but for some reason MF kept telling me the post had been removed so I couldn't add my comment....I now see that it posted each time I tried to go back and post.
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