Saturday, November 15th, 2008...2:13 pm
[994] The Truth About Markets - 15 November 2008
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We talk about general motors; hank paulson; a run on the pound; US cities seeking bailout funds; US insurers seeking bailout funds; cult of debt; celebrity chef pasties; Richard Russell on gold manipulation.
11 Comments
November 15th, 2008 at 2:40 pm
Max and Stacy, Thanks for your continued honesty about what is really going on. I have been listening since I saw Max, on Utube, calling Henry Paulsen Colonel Kurtz while holding up bananas to represent our currency. Great job. I will continue to listen. Karen
November 15th, 2008 at 5:31 pm
The central banks of the world will never willingly make gold the global reserve. They hate gold because they cant print it or countefeit it or synthesise it. They would lose control over the money supply. They would lose their power.
France and Russia want to dis-establish the dollar, but they dont want it replaced with gold. They want to replace it with a fiat currency that they can print themselves. Then they can be hegemons like the USA is now.
November 15th, 2008 at 5:35 pm
It would be nice if you could take more calls from the public on your show. At the moment, the few calls Ive heard you take, theres a lot of interference from the cellphone signal, so the quality is not so good. Could you try wiring the phone earpice into the mic?
November 15th, 2008 at 8:38 pm
Hi Nick & Nora,
Pastes; Pasties
Pasties; Pastes
Oh, let’s call the whole thing off.
Irwin
November 15th, 2008 at 8:55 pm
Hey max and stacy found something for ya
THE BRAZIl SONG:
aquarela do Brazil
http://www.youtube.com/watch?v=m7DzHrKpbKA&feature=related
http://www.youtube.com/watch?v=hIimKV7s7WA&NR=1
http://www.youtube.com/watch?v=w_jrd9rU9mY&feature=related
http://www.youtube.com/watch?v=_mQHr8bAojU&feature=related
I think I increased google’s shares by searching this for you
November 16th, 2008 at 5:17 am
i was born in 54 at a time in britain when things were a lot harder.my family were very poor and we did a lot of poaching.the situation today is that most people in the uk are to soft when the pound collapses most will be crying like babies.i have huge anounts of canned goods. air rifles power inverters ammunition fishing rods rice porridge portable gas cooker gas led torches etc everything that will be needed to survive most people are to busy watching big brother x factor etc there minds are full of crap and they are unaware of anything they are worse than sheep they are like the citizens of the roman empire fat unfit and decadent .brown bush merkel sarkozy etc should all be tied to chairs and shot just like mussolini. paulson bernanke as well the citizens of the usa are going to have a civil war over all of this and i would not like to be liveing in america.obama is the last throw of thier crooked dice and when homer cannot get his mc burger and beer then the shit is going to hit the fan.people only face the truth when they are forced to and for a while people will be shell shocked then the whispher of dissent will become a roar paulson bush bernanke are going to be hanging from lamposts then the people will reinstate the bill of rights
November 16th, 2008 at 5:19 am
While thousands of banks in the US go under, Hugo Chavez OPENS another 1,000,
http://www.venezuelanalysis.com/news/3956
November 16th, 2008 at 10:09 am
Bailing out the Big Three is qualitatively different than the financial bailouts, because the Big Three actually fricking PRODUCE something. They have foundries, factories, rail lines, cargo shipping ports, etc. Drive through Detroit or Flint and you will see rail yards with dozens of lines and hundreds of rail cars. Drive over the river to Canada, and from the bridge you see enormous warehouses, piles of gravel, huge ships, silos with elevators, etc. People forget what REAL PRODUCTION looks like. It looks like 1950, a time when the US actually made things.
The foundries & factories can be re-configured to meet national needs, as in WWII when GM built tanks. In the future they might be tasked to build electric trams, diesel generators, and very small flex-fuel tractors. If they go under, it’s not Chapter 11, it’s Chapter 7, and all hard assets will be scattered to the winds. There will be no more possibility of harnessing private production to meet national needs, because there won’t be any private production on a scale that’s large enough.
But yes, I’m biased. If GM goes under, my dad loses his job, as does my oldest friend C, who works for a GM supplier. (My dad had nothing to do with bone-headed management decisions, as his area is worker health & safety; my whole family is fully aware just how downright stupid the management is.) If Ford goes under, my friend C’s dad loses his job, as does my cousin, and my aunt’s husband, and my best friend’s dad. If Chrysler fails then it’s an old friend of the family… etc. That’s how it is in Michigan, everyone knows workers at the Big Three. You let them go under, that’s a whole fucking state you’re throwing under the bus. The resulting tax revenue losses will also put my husband’s job at risk since he works at U Michigan. Etc.
People think we’re going to have New Deal-type programs, repairing bridges and roads and building rail lines. But if the Dems can’t save one of the last means of actual PRODUCTION in the country, then they have no respect for real assets & real production and there aren’t going to be any New Deal projects. We will simply collapse back to the point where calories are the unit of exchange, and we’ll have to learn all over again what a real (as opposed to “service”) economy looks like.
November 16th, 2008 at 11:39 am
I said I would have a drinking game every time I heard the words “suppository salesman”..
It’s 10 in the morning and you got me all nice and tipsy
November 16th, 2008 at 3:55 pm
@Freelearner
Being from Detroit myself, I agree with you entirely. GM going down is like another 10,000 nails in the coffin, not just one.
November 17th, 2008 at 8:21 am
@freelearner
Maybe they should take the money back from the financial criminals and give it to gm and crysler instead-under the condition that the management fires themselves and finds replacements for themselves
that would be smart.
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