Ticker Tape of Fraud: 17 May 2010
May 17th, 2010 by
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Stacy Summary: I’m going to try something new which is just a daily ticker tape of headlines on markets, finance and scandal as they come in throughout the day.
- Trichet’s ‘Quantum Leap’
- German Households More in Debt Than Greek Households
- Greeks Work More Hours Than Germans
- Homeboy Industries lays off 75% of staff
- “I’m afraid to tell you, there’s no money left”
- A Major Deflationary Red Flag in US Dollar
- Morgan Stanley – Full Blown Quantitative Easing Needed in Europe
Tags: european debt · greek working hours · trichet66 Comments
Lib-Cons to create more than 100 new Lords
May 17th, 2010 by
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Stacy Summary: Yes, because the UK was suffering such a shortage of entitled ponces.
This is a massively illiberal step to take,” he said. “The single largest simultaneous act of political patronage probably since Charles II came to the throne in 1660 . . . “ Chris Bryant, Labour MP
Tags: lib-cons · lords · peers57 Comments
Asia Craters, Euro Bellyflops, Germans Fantasize & Bankers Try to Blend In
May 17th, 2010 by
Respond
Stacy Summary: h/t @marietta for the verbiage!
Tags: asia market · bankers · euro · eurozone · finland· france · germany · monetary union27 Comments
The Infamous Moriarity Flight Under the Eiffel Tower!
May 16th, 2010 by
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Stacy Summary: Last night, Max and I had dinner with Bob Moriarity of 321gold. On the walk back, we all passed under the Eiffel Tower. While it was pleasant, it certainly was not as exciting as this time Bob flew under the Eiffel Tower:
Tags: bob moriarity · eiffel tower33 Comments
Rigged Market News Roundup – 16 May 2010
May 16th, 2010 by
Respond
Guest post from David DeGraw of AmpedStatus:
Max & Stacy have invited me to make guest posts here. I hope to live up to the standards of this vibrant online community. The comments on this site kick ass, so I’m honored to contribute. Before jumping into my first news roundup for you, here’s a quick note:
I am working on a follow-up to the High Frequency Terrorism report that I wrote w/ the help of Max. For now, here’s my brief comment: Commodity Futures Trading Commissioner Gary Gensler’s claim that the “Flash Crash” was caused by a “lone trader” is the most ridiculous official story I have heard since Lee Harvey Oswald was “fat-fingered” as the “lone gunman.” The mainstream media has gone from pointing blame at the “fat-finger” to the scary sounding Nassim Taleb, author of “Black Swan: The Impact of the Highly Improbable,” and has now landed on Waddell & Reed’s e-mini futures.
What will ex-Goldmanite Gary “I wrote the laws that exempted oversight of the derivatives market” Gensler come up with next?
Real quick recap of Gensler’s career as a “regulator” after leaving Goldman: he supported the housing bubble when, in 2000, he turned loose the $58 trillion credit default swap market, and has been sleeping through the multi-trillion manipulations of the InterContinental Exchange oil futures market and the silver/gold PM market. This is the last person we want in charge of investigating this latest act offinancial terrorism!
Much, much more to come…
Here’s your Rigged Market News Roundup:
James K. Galbraith: Why the ‘Experts’ Failed to See How Financial Fraud Collapsed the Economy
I write to you from a disgraced profession… the study of financial fraud received little attention. Practically no research institutes exist; collaboration between economists and criminologists is rare; in the leading departments there are few specialists and very few students. Economists have soft- pedaled the role of fraud in every crisis they examined, including the Savings & Loan debacle, the Russian transition, the Asian meltdown and the dot.com bubble. They continue to do so now…
Insights From An Ex-Wall Street CEO On Market Manipulation
I cannot come up with any explanation for market activity for last 15 months other than treasury intervention. Probability of other explanation is nonexistent. Who knows…it could have even been Timmy who set the Thursday action into motion, but for the first time he did it simultaneously with other large sellers… We have met the enemy and he is us. It’s a inside Ponzi game and I am using my winnings to keep it going…
How Bankers Are Gaming the US to Get Richer Than God
Because the US government is lending money to the big banks at near-zero interest rates. And the banks are then turning around and lending that money back to the US government at 3%-4% interest rates, making 3%+ on the spread. What’s more, the banks are leveraging this trade, borrowing at least $10 for every $1 of equity capital they have, to increase the size of their bets. Which means the banks can turn relatively small amounts of equity into huge profits–by borrowing from the taxpayer and then lending back to the taxpayer…
Daily Show: Rigged Market Hoarders [video]
The big banks make money by taking the bailout money we gave them and lending it back to the government with interest…
Tags: david degraw · gary gensler · nassim taleb ·rigged market news69 Comments
[1127] The Truth About Landmines & Landfills – 15 May 2010
May 15th, 2010 by
Respond
Stacy Summary: Hope you enjoy. Here is the latest rumored trader, Waddell & Reed, involved in the 1000 point plunge (I got some of my numbers slightly wrong when discussing, so should cross check with the article).
For more download & listening options, visit Archive dot org
[OTE54] On the Edge with Steve Keen
May 15th, 2010 by
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Stacy Summary: On the Edge with Revere Award winner,Steve Keen. (By the way, next week’s guest will be Gerald Celente if you have any questions for him).
Tags: deflation · max keiser · On the Edge · steve keen73 Comments
World’s Biggest Budget Crunch and a Very Big Ocean
May 15th, 2010 by
Respond
Stacy Summary: The CEO of BP uses the same argument that ‘financial engineers’ used – all those derivatives and debt spills happened in such a big ocean of the US & world economies that the little spills weren’t supposed to matter.
Tags: bp · imf · US62 Comments
Sarko Speaks! Euro Plunges! Tory Splits! Pound Tumbles!
May 14th, 2010 by
Respond
Stacy Summary: The almighty market speaks. And it says, “Aaaarrrrggggghhhh!!!!” I think we are going to need some new words for ‘tumble’ and ‘plunge,’ getting a bit overused these days.
UPDATE:
Tags: euro · pound189 Comments
Ticker Tape of Fraud: 17 May 2010
May 17th, 2010 by
Respond
Stacy Summary: I’m going to try something new which is just a daily ticker tape of headlines on markets, finance and scandal as they come in throughout the day.
- Trichet’s ‘Quantum Leap’
- German Households More in Debt Than Greek Households
- Greeks Work More Hours Than Germans
- Homeboy Industries lays off 75% of staff
- “I’m afraid to tell you, there’s no money left”
- A Major Deflationary Red Flag in US Dollar
- Morgan Stanley – Full Blown Quantitative Easing Needed in Europe
Tags: european debt · greek working hours · trichet66 Comments
Lib-Cons to create more than 100 new Lords
May 17th, 2010 by
Respond
Stacy Summary: Yes, because the UK was suffering such a shortage of entitled ponces.
This is a massively illiberal step to take,” he said. “The single largest simultaneous act of political patronage probably since Charles II came to the throne in 1660 . . . “ Chris Bryant, Labour MP
Tags: lib-cons · lords · peers57 Comments
Asia Craters, Euro Bellyflops, Germans Fantasize & Bankers Try to Blend In
May 17th, 2010 by
Respond
Stacy Summary: h/t @marietta for the verbiage!
Tags: asia market · bankers · euro · eurozone · finland· france · germany · monetary union27 Comments
The Infamous Moriarity Flight Under the Eiffel Tower!
May 16th, 2010 by
Respond
Stacy Summary: Last night, Max and I had dinner with Bob Moriarity of 321gold. On the walk back, we all passed under the Eiffel Tower. While it was pleasant, it certainly was not as exciting as this time Bob flew under the Eiffel Tower:
Tags: bob moriarity · eiffel tower33 Comments
Rigged Market News Roundup – 16 May 2010
May 16th, 2010 by
Respond
Guest post from David DeGraw of AmpedStatus:
Max & Stacy have invited me to make guest posts here. I hope to live up to the standards of this vibrant online community. The comments on this site kick ass, so I’m honored to contribute. Before jumping into my first news roundup for you, here’s a quick note:
I am working on a follow-up to the High Frequency Terrorism report that I wrote w/ the help of Max. For now, here’s my brief comment: Commodity Futures Trading Commissioner Gary Gensler’s claim that the “Flash Crash” was caused by a “lone trader” is the most ridiculous official story I have heard since Lee Harvey Oswald was “fat-fingered” as the “lone gunman.” The mainstream media has gone from pointing blame at the “fat-finger” to the scary sounding Nassim Taleb, author of “Black Swan: The Impact of the Highly Improbable,” and has now landed on Waddell & Reed’s e-mini futures.
What will ex-Goldmanite Gary “I wrote the laws that exempted oversight of the derivatives market” Gensler come up with next?
Real quick recap of Gensler’s career as a “regulator” after leaving Goldman: he supported the housing bubble when, in 2000, he turned loose the $58 trillion credit default swap market, and has been sleeping through the multi-trillion manipulations of the InterContinental Exchange oil futures market and the silver/gold PM market. This is the last person we want in charge of investigating this latest act offinancial terrorism!
Much, much more to come…
Here’s your Rigged Market News Roundup:
James K. Galbraith: Why the ‘Experts’ Failed to See How Financial Fraud Collapsed the Economy
I write to you from a disgraced profession… the study of financial fraud received little attention. Practically no research institutes exist; collaboration between economists and criminologists is rare; in the leading departments there are few specialists and very few students. Economists have soft- pedaled the role of fraud in every crisis they examined, including the Savings & Loan debacle, the Russian transition, the Asian meltdown and the dot.com bubble. They continue to do so now…
Insights From An Ex-Wall Street CEO On Market Manipulation
I cannot come up with any explanation for market activity for last 15 months other than treasury intervention. Probability of other explanation is nonexistent. Who knows…it could have even been Timmy who set the Thursday action into motion, but for the first time he did it simultaneously with other large sellers… We have met the enemy and he is us. It’s a inside Ponzi game and I am using my winnings to keep it going…
How Bankers Are Gaming the US to Get Richer Than God
Because the US government is lending money to the big banks at near-zero interest rates. And the banks are then turning around and lending that money back to the US government at 3%-4% interest rates, making 3%+ on the spread. What’s more, the banks are leveraging this trade, borrowing at least $10 for every $1 of equity capital they have, to increase the size of their bets. Which means the banks can turn relatively small amounts of equity into huge profits–by borrowing from the taxpayer and then lending back to the taxpayer…
Daily Show: Rigged Market Hoarders [video]
The big banks make money by taking the bailout money we gave them and lending it back to the government with interest…
Tags: david degraw · gary gensler · nassim taleb ·rigged market news69 Comments
[1127] The Truth About Landmines & Landfills – 15 May 2010
May 15th, 2010 by
Respond
Stacy Summary: Hope you enjoy. Here is the latest rumored trader, Waddell & Reed, involved in the 1000 point plunge (I got some of my numbers slightly wrong when discussing, so should cross check with the article).
For more download & listening options, visit Archive dot org
[OTE54] On the Edge with Steve Keen
May 15th, 2010 by
Respond
Stacy Summary: On the Edge with Revere Award winner,Steve Keen. (By the way, next week’s guest will be Gerald Celente if you have any questions for him).
Tags: deflation · max keiser · On the Edge · steve keen73 Comments
World’s Biggest Budget Crunch and a Very Big Ocean
May 15th, 2010 by
Respond
Stacy Summary: The CEO of BP uses the same argument that ‘financial engineers’ used – all those derivatives and debt spills happened in such a big ocean of the US & world economies that the little spills weren’t supposed to matter.
Tags: bp · imf · US62 Comments
Sarko Speaks! Euro Plunges! Tory Splits! Pound Tumbles!
May 14th, 2010 by
Respond
Stacy Summary: The almighty market speaks. And it says, “Aaaarrrrggggghhhh!!!!” I think we are going to need some new words for ‘tumble’ and ‘plunge,’ getting a bit overused these days.
UPDATE:
Tags: euro · pound189 Comments
Guest Post: Wall Street Threatens Washington as Financial Reform Vote Approaches
May 20th, 2010 by
Naked shorting is illegal in the US, and for very good reasons. On a larger scale, it is used for price manipulation, and is the equivalent of counterfeiting. The removal of theuptick rule by the SEC on July 6, 2007, which had been created in 1938 as part of the New Deal regulatory reforms, cleared the way for its more heavy handed uses and control frauds. [Read more →]
[KR44] Keiser Report – Markets! Finance! Scandal! – And The Gold Standard with J.S. Kim!
May 20th, 2010 by
Stacy Summary: This week we look at the scandals of lying children, probing banks, Wall Street barbarism and German fantasies. In the second half of the show, Max interviewsJ.S. Kim, Chief Investment Strategist forSmartKnowledgeU, about systemic fraud in the Wall Street casino scam and a return to the gold standard.**UPDATE** - Iceland news reporting on Max’s offer of one ounce of gold as reward for information leading to arrest of former Kaupthing chairman & co-CEO. **UPDATE 2** - J.S. Kim’s latest blog entry, “Bangkok Now, Who’s Next?”
Max Keiser on “Straight Talk,” Radio 786 in South Africa – 19 May 2010
May 20th, 2010 by
Stacy Summary: Max appeared on South African radio yesterday, 19 May 2010. Here is the Archive dot org pageor you can download . . .
Arizona Threatens, Dubai World Restructures & the Aussie Freefalls
May 20th, 2010 by
Stacy Summary: Good morning! The US is looking a whole lot like Europe this morning. Carry trade unwinding and debtors restructuring (as should happen with all bad but payable debts or written down for those debts that are unpayable).
- Arizona threatens to cut off LA’s electricity supply
- Dubai World, Creditors Agree Debt Restructuring
- Aussie Dollar in Freefall (h/t @Majestic)
Bear Raids and Delinquents
May 19th, 2010 by
Stacy Summary: Never swim naked with the big boys.
- Bear Raid in Gold Ahead of Option Expiration Results in Historic Long Liquidation
- 14% of Mortgages in US are Delinquent or in Foreclosure
‘Acts of Desperation’ & Hyperinflation Trades
May 19th, 2010 by
Stacy Summary: The ban on naked short selling in European government bonds and Germany’s 10 largest banks is apparently in place until March 31, 2011. Via @NicAbbo77 here is text of German ban on naked short selling. Regardless, the turmoil doesn’t seem as bad as post Lehman as many were warning yesterday and gold is off its all time euro high. It seems to me the argument from bankers is that we are in an Afghan poppy like corner – we have to let the warlords grow poppies or else there will be Taliban chaos! Failed states, failed markets. Or as Max says, “Without fraud there would be no markets” **UPDATE**: The final headline is from Denninger; and he says that there is also a ban on naked shorting of gold.
- Market chaos warning after German ban on naked short selling
- Swaps soar on Germany’s ‘act of desperation’
- ‘Carry bloodbath,’ ‘full blown liquidations imminent’
- Hedge funds bet $1trillion European bailout won’t work; lay hyperinflation trades
- Germany has had enough – Market Ticker
[KR43] Keiser Report w/ Jim Rogers – Banks! Bailouts! Scandals!
May 18th, 2010 by
Stacy Summary: We look at the scandals of real time fraud as quoted on the ticker tape; the more ‘perfect quarters’ and even more ‘missing records’ as the US government hands out tens of billions to TARP banks. In the second half of the show, Max interviews Jim Rogers about the euro, naked short selling, and gold. **UPDATE**: Merkel introduces ban on naked short selling from midnight tonight**UPDATE 2** – There are $250 billion in naked CDS outstanding; they have 4 hours to unwind . . .
Max Keiser Interviewed on Athens International Radio – 17 May 2010
May 18th, 2010 by
[1128] The Truth About Markets – Christchurch – 18 May 2010
May 18th, 2010 by
Stacy Summary: Good morning, y’all. Here’s the show from down under.
For more download and listening options, visit Archive dot org
Shadow Lobbying, Loopholes & Super Majorities: Rigging the U.S. Reform Process
May 17th, 2010 by
Your Latest Amped Roundup: Rigging, rigging and rioting… the reform process, the market and “rollin’ down Rodeo…”
Rigging the Reform Process
Rigging the Market
Riots Coming to California?
Isn’t it Sublime? Shades of April 29, 1992
Coming to a city near you!
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