Keiser Report : Con Games Go Global

In this episode, Max Keiser and co-host, Stacy Herbert, the European short change con in which debt and debt facilities are created and swapped at ever increasing speeds in order to defraud the population. In the second half of the show Max talks to economist Yanis Varoufakis about the ponzi austerity screwing Europeans right down to the ground with more debt.

Follow Max Keiser on Twitter

RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 500 million YouTube views benchmark.

Keiser Report : Planet Ponzi

In this episode, Max Keiser and co-host, Stacy Herbert, discuss shamed, naive and unsustainable ponzis and the UK’s Metropolitan Police’s Total War on Economic Crime (or at least that committed by the bottom 99%). In the second half of the show Max talks to Mitch Feierstein, hedge fund manager and author of Planet Ponzi, about global ponzi schemes, asymmetric hedging and whether or not hedge funds do any ‘good.’

Follow Max Keiser on Twitter: http://twitter.com/maxkeiser

BBC Does It Again: “In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks” / IMF Advisor

[Guest post from Zerohedge’s Tyler Durden.  This is a site that has continually kept a finger on the pulse of the market – as savvy as they are, they see how it now behaves like a wild animal and to that end, realize what is normal/abnormal and also unprecedented.  Their traffic has grown exponentially over the course of the last few months and when this post was listed as top story today – the link would not post a preview, nor would the link properly function (in fact, it jumped to Obama’s jobs speech post, incredulously).  In the spirit of sharing much needed information – I present it here, unedited. ~ G]
A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again.  In an interview with IMF advisor Robert Shapiro, the bailout expert has pretty much said what, once again, is on everyone’s mind: “If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system.  We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected.  All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world.  This would be a crisis that would be in my view more serrious than the crisis in 2008…. What we don’t know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems.”
But no, Morgan Stanley does, or so they swear an unlimited number of times each day.  And they say not to worry about anything because, you see, it is not like they have any upside in telling anyone the truth.  Which is why for everyone hung up on the latest rumor of a plan about a plan about a plan spread by a newspaper whose very viability is tied in with that of the banks that pay for its advertising revenue, we have one thing to ask: “show us the actual plan please.”  Because it is easy to say “recapitalize” this, and “bad bank” that.  In practice, it is next to impossible.  So yes, ladies and gentlemen, enjoy this brief relief rally driven by the fact that China is offline for the week and that the persistent source of overnight selling on Chinese “hard/crash landing” concerns has been gone simply due to an extended national holiday.  Well, that holiday is coming to an end.
By the way, Reuters, Shapiro is not a Yes Man – we’ll spare you the ruminations.