In the second half of the show,(13mins) Max interviews Jim Rickards about naked short selling and overwhelming the specialist system, Wall Street banks undermining Greece and Goldman Sachs as an undeclared national enemy.
Archive for May, 2010
Keiser Report: Goldman Sachs, Undeclared Enemy of the State
Posted by seumasach on May 25, 2010
Posted in Battle for Europe | Tagged: Goldman Sachs | Leave a Comment »
Germany ‘to extend short-selling ban’
Posted by seumasach on May 25, 2010
25th May, 2010
Germany is considering widening a ban on “naked” short-selling on some financial stocks to cover all German-listed stocks, proposals have shown.
Posted in Battle for Europe | Leave a Comment »
Merkel bans naked short selling of euro bonds
Posted by seumasach on May 25, 2010
It is important to act in areas where you can act nationally, in anticipation of European efforts, Offer retorted, adding that other countries – including France – had taken similar steps.
25th May, 2010
Germany defended its decision to introduce an immediate ban on naked short selling, as the country moved to stamp its authority on negotiations about regulating financialmarkets.
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Hedge Fund Directive continues to stir tensions
Posted by seumasach on May 25, 2010
Already, the AIFM Directive is causing some alarm, notably in the UK, where some are predicting it will be the end of the City of London.
Rebecca Marr
23rd May, 2010
The European Parliament and Council have both agreed this week to push ahead with stricter regulations for hedge funds, private equity funds and other alternative investment methods.
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“The market” is a reactionary mystification: reply to the attack on economic populism from Franco Debenedetti and other Italian economists
Posted by seumasach on May 25, 2010
Today, any objective appraisal would conclude that Greece is far more economically viable and solvent then Citibank. Portugal is more viable than Goldman Sachs. Italy has a brighter economic future by far than J.P. Morgan.
Webster Tarpley
23rd May, 2010
A group of Italian economists led by Franco Debenedetti of the famous financier clan and the banker Paolo Savona, obviously fearful that the Berlusconi-Tremonti government of Italy will join last Tuesday’s successful German ban on the type of toxic derivative known as the naked credit default swap, have sent an alarmed warning to the Corriere della Sera of Milan1. Debenedetti has contributed an article expressing similar sentiments to the Italian business newspaper Il Sole 24 Ore in which he rails at the “Mrs. Merkel market” now in force in Germany2. These economists, obviously inspired by the doctrines of Friedrich von Hayek and the Austrian school, want Italy to remain faithful no matter what to the widely discredited ideas of laissez-faire economics, even as those doctrines are everywhere under attack for having caused the current world economic depression. For these neoliberal and monetarist thinkers, any attempt to ban derivatives or tax speculation must be condemned as “economic populism,” which for these writers is a term of opprobrium.
Posted in Battle for Europe | Tagged: Credit default swaps, derivatives | Leave a Comment »
Euro Momentarily Stabilized — German Ban on Naked Credit Default Swaps Is Working
Posted by seumasach on May 23, 2010
Webster Tarpley
21st May, 2010
Tuesday’s German ban on naked credit default swaps – a measure repeatedly demanded by this web site over recent months — has been in effect now for about three days, and it is working. The panic slide of the euro has been stopped for now, and the forces of depression and destruction have been re-directed against US stocks, commodities, and certain emerging markets. The goal of euro stability has been momentarily achieved. Sarkozy, who talked a good game of limiting speculation, has been exposed as a Euro-wimp, too weak to buck the Anglo-Saxons and go along with Berlin. The Germans had to act alone because of the obvious sabotage of the eurogarchs of the Brussels Commission, which is now promising to come up with their proposal by October (!). Given the ferocity of the hedge fund assault, many Europeans by October will have lost their shirts, and will be living under bridges dressed in barrels, if more measures are not taken this month.
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War without end: a setback on the European front?
Posted by seumasach on May 23, 2010
Cailean Bochanan
23rd May, 2010
A quick survey of British media opinion on the eurozone crisis reveals much about the British psyche. Firstly, thinking in Britain is a collective rather than an individual process. Secondly, there is no corrective mechanism: once we start talking shit there is nothing than can stop it.
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What’s behind Dow’s fall? More than Europe.
Posted by seumasach on May 23, 2010
Bill Bonner
22nd May, 2010
Markets took a beating Thursday. The Dow got walloped for a 376-point loss.
Tellingly, gold lost only $4. Proportionately, it should have gone down nearly $40.
The story was the same all over the world. Here in China, stocks fell…as they did everywhere else.
And not just stocks – commodities went down too.
Why?
Posted in Financial crisis | Leave a Comment »
London purchases $45 billion worth of US treasuries in one month
Posted by seumasach on May 21, 2010
Net purchases of US Treasury securities from abroad doubled between February and March, from $48 billion to $109 billion. About half the total $45 billion came from London, that is, international banks; another half came from Asia ($45 billion), with China ($19 billion) and Japan ($15 billion) the largest contributors. The geographic breakdown suggests that in addition to the $50 billion a month in carry-trade financing of the deficit by international banks, reserve accumulation by Asian countries pushed another $50 billion or so into US coffers.
Posted in Financial crisis, UK economy | Leave a Comment »
Iran, Sun Tzu and the dominatrix
Posted by seumasach on May 21, 2010
Most of all, what the developing world sees is the past – US,France, Britain, Germany – fighting against the advance of the future – China, India, Brazil, Turkey, Indonesia. The global security architecture – policed by a bunch of fearful, self-appointed Western guardians – is in a coma. The “Atlanticist” West is sinking Titanic-style.
Pepe Escobar
22nd May, 2010
Let’s face it: Hillary Clinton is one hell of a dominatrix.
At first the United States Secretary of State said the Brazil-Turkey mediation to get Iran to accept a nuclear fuel swap was destined to fail. Then the US State Department said it was the “last chance” for an agreement without sanctions. And finally, less than 24 hours after a successful agreement in Tehran, Hillary whips the UN Security Council into submission and triumphantly proclaims to the world a draft resolution for a fourth UN round of sanctions against Iran has been reached.
Posted in Iran | Tagged: No sanctions against Iran! | Leave a Comment »
Tarpley: Dow down as Euro attack boomerangs
Posted by seumasach on May 21, 2010
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In These New Times 