Sunday, October 12th, 2008...5:27 am
Max Keiser on the G7 financial crisis meetings
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Max was interviewed for Radio France International this morning:
Max Keiser, a Paris-based financial analyst, is not hopeful that anything will come out of the meeting.
“This weekend unfortunately won’t produce the policies that are needed to rectify the situation,” he told RFI.
“They can make lending available, but if nobody wants to borrow, they can’t force people to borrow money. The economies are in massive contraction and people are retreating. And just by making these loans available, doesn’t mean that people want to borrow money. It’s just too much too late.”
3 Comments
October 13th, 2008 at 4:02 am
At the open, the ASX and the European markets shot up 200pts and sustained that basic lead all day. Otherwise Asian markets were way down and there is ample evidence of a sucker-punch on Global markets with Wall St. set to rally by, I’m guessing, 680.pts today.
So what’s with these roller coaster currencies? I mean the logical EU solution is to fix their values, aka., Bretton Woods, no?
October 13th, 2008 at 6:12 pm
the global central bank will be in basel and the currency will be called “globals”. china will not come on board however.
October 14th, 2008 at 7:15 am
I side with Max on his point, “too little too late.” This rally appears to be the same kind of input that caused the market to rise exponentially before the 1929 peak. We’ve been looking at the wrong end of the chart in hoping to clock-out as the DOW posts one tiny crest–before the whole house goes crashing into its own footprint, like building #7. -BOOM!
Gold is of course a value at $840., and just one month ago we gasped when it bottomed at what, $740.? …wooda, shoulda,
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