People & Power - Money Geyser- 05 Aug 07 - Part 2

[LeonidaEllison800]

Get the audio from this video at tubepull doht cohm.

[TheGreatBunghole16]

I never see this guy on Al Jazeera English anymore... I wonder why he isn't a head reporter or journalist?! This guy is good!

[starrychloe]

Wow such insight! Unbelievable this was in 2007!

[gasdorf]

huge magma debt flow...

[DayStockTrader]

@lexpie Just because you do not understand does not mean you should say this..... LoL

look at what happened after this video, everything became true.

We are been handle as economic puppets from the banks.....

[blubuddha]

8:15 Max cut him off cuz he thought he was full of shit but the guy may have actually had an unusual point. What he was saying was the volcanic ash kept most of Europe overcast that year and the winter before the French Revolution was one of the most brutal winters in year causing food shortages and riots that were early catalyst for the revolt against the monarchy.

Another great piece by Max...if only more people saw him.

[starrychloe]

@blubuddha And now the people in the Middle East are rioting because of food shortages and unemployment and revolting against dictators!

[GodandLiberty]

Now do people understand why the religions ban usury? It is immoral to generate 'wealth' without capital and of course it creates a Ponzi scheme for the bankers, with the people as the victims. Well done Max Keiser, my estimation of you was already high, now it has skyrocketed.

[starrychloe]

@GodandLiberty Religious bans on usury is not wise. There is significant risk in lending money - the risk you will not be repaid. Charging interest is a legitimate form of accounting for that risk. It is not an real Ponzi scheme. Don't sensationalize and be more precise in your speaking - people will take you more seriously.

[GodandLiberty]

@starrychloe Obviously you have been in Mars/down a hole over the past few months. Watch 'money as debt' and see exactly how usury sets up a Ponzi scheme. Islam forbids usury and demands a financial system based on true wealth, not the Ponzi scheme paper money. Had this been in place, there would have been no Ponzi scheme banking crash. The root cause is the separation of money from wealth (i.e. the bankers create little wealth/lots of debt, yet have all the money and are bailed out).

[youngbuck189]

Why is he mildy jogging before the 2 minute mark. It' peculiar.

[droutsolias]

wow how prophetic ! economy and volcanoes!!!!!

[dinamo4889]

didn't the value of yen went up anyways? or was it the value of the dollar than went down? in 03-04. i remember living in japan during this time and my purchasing power dipped drastically. This sucked since i was getting paid in dollars and broke all the time.

[chaniwie]

oh i get it...iceland is going to sink like max..:-O

[DURKLIVES]

lol yeah hey you're right, man that max guy is sharp

[chaniwie]

max u are da man!

[ivangrozny27]

But how do you prevent hedge funds, etc from borrowing in yen (or wherever the next low interest country is) and buying krona, etc. As long as we have nations in economic competition with each other, we will have different currencies. So you cant really blame speculators for taking advantage of these international loopholes. Would be better if nations, companies & individuals could trade with each other using gold & silver as currency and screw all these fiat currencies (Dollar, Euro, Yen, etc)

[velerephon]

ivangrozny27-> Well if that happens we may as well see the countries arround north greece, all self renaming themselves 'macedonia' trying to claim the historic hellenic macedonian gold/silver rich territory for themselves. just like the FYROMian slavs (or Georgesoronian slaves) are doing right now with full western backup

[pllpls]

0:50 "laissez-faire tale"

lol very clever :)

[joro353]

In this video Max Keiser predicts that Icelands finances are getting into deep sh*t in August of 07. The NY Times (and others) article "Iceland, in Financial Collapse, Is Likely to Need I.M.F. Help" of October 10, 2008 confirmed it.

[Exit50]

Love the mention of the Volcanic helka eruption caused a bad harvest in 1783 in France setting off the Revolution. WOW

again

Great work

[Luphrecio]

by rabelai i year ago: Yes it was I nice report. I love Max, I often see him on France24.

But this speculation of his about the Icelandic economy is blown out of proportion. (I am an Icelander by the way). Iceland has dealt with this kind of debate before and trashed that similation of Iceland and Thailand completely. The only thing in common with Thailand and Iceland is that both words end with an -land.

Owned much?

[emembrace]

This is a statement of arrogance.

[kickittome70]

We drink to remember and fuck to forget

[sanarkhos]

Wow, I didn't know Icelanders were immune to debt and hubris.

[rabelai2006]

What do you mean? Immune to debt and hubris.

The Icelandic state was without debt before this crisis hit, and when the Icelandic banks got into trouble we didn´t nationalize them or were stupid enough to toss them all the money in the world, they fucked up so they go bankrupt. Frightfully simple isn´t it.

I would watch more out for UK and USA, pouring billions of tax payers money into the financial black holes on London and Wall street, this money is gone as soon as he arrives there.

[rabelai2006]

The Icelandic government will end up with a debt of around 45% of GDP while other western countries will owe about 120%-150% of GDP. How much did USA owe before the crisis as % of GDP, like 80%-90% I guess, then put on top of that those trillion of dollars of "rescue" packages that you borrow from China.

It is unbelievable how the international media is paintig the situation. Ha ha, fox news even rated Iceland as top 10 most dangerous countries to travel to, ha ha fucking twat.

[rabelai2006]

A typical headline in the international press is like this: "Unemployment increases by 500% in Bankrupt Iceland".

Sure, they only forget to mention that before the crisis hit unemployment was only 0,5% and that the Icelandic government was without debt.

The ones who are losing most money here are hedge fund and other financial gamblers.

We are taking a brutal shrinking of GDP though, 8% I think, since we our international banking sector is caput.

[Stev888]

Worrying Max is predicting a similar fate for my home (UK) as he did for Iceland. What would he know?... ooops. Spare any change?... Anyone...?

[daniel987878]

Oh my, poor Iceland. Where next. At least we go down with the banking community which seems fair. Only a few elite will ride this out as is planned I rekon. The new world order is coming into view now.

[aj010139]

haha now they are bankrupt! usa next? bring it on..!!!

[barnabycross]

Max Keiser is the only guy who can say to Nostrodamus 'Buddy, you are history!'

[sega88]

The bankers behind this are the Rothschilds.

Learn more about them here.

erichufschmid. net/TFC/Rothschild-timeline.ht­m

[JRCrowley]

The Man Who Knew Just Enough

[splintercell99]

thank you speculators, dont worry we know you made a mistake bankrupting the world, but dont worry the middle and lower class will bail you out!

[Air420]

All hail the prophet Max!

[madbudyou]

the banker still don't get what Keiser asking about the volcano... It is about hot money, not hot lava Lol

[massd07]

what you take is what you get ahhaahahahah)

It has Officially Imploded and United Kindom city councils...... drowned there money with them.

Now Gordon wants to step in ahahahahah ...( what an idiot))...

[sinitskyd]

Its amazing that I am watching this when Iceland financial system just melted yesterday. Wow!

[KhmerD0g]

yes, max keiser predicted it in august 2007. he is good.

[Janusha]

@sinitskyd

And Im watching this 2 years later. When america is bankrupt and devalued. Wow!

[sinitskyd]

Can Comcast carry AlJazeera English? I hope they would.

[kamayie86]

Man, this episode is priceless, good work from both ALjazeera and Max Keiser

[trevormac77]

this was pretty prophetic in regard to the 800 billion bailout this week

[BOINKER1]

I like this guy, but he doesn't mention the jew pricks, and their opportunistic raping of the country.

The problem is the greedy jew.

[uea978]

Max Keiser for president of the world!

[anthonyfoxtrott]

wow, check out the clouds at 2:45..

[rabelai2006]

Yes it was I nice report. I love Max, I often see him on France24.

But this speculation of his about the Icelandic economy is blown out of proportion. (I am an Icelander by the way). Iceland has dealt with this kind of debate before and trashed that similation of Iceland and Thailand completely. The only thing in common with Thailand and Iceland is that both words end with an -land.

[rabelai2006]

For example the Icelandic state is almost without debt and usually turning huge surplus. The Icelandic pension funds are greater per capita than famous Norwegian oil fund. Icelanders work most hours per week in Europe, unemployment is 0,9%, we are I think world leaders in innovation tendancy etc etc.

[venomousbird]

If Iceland wants to get really rich, I have an idea. You have access to a huge amount of geothermal power in your nation. Remotely operated ships could be used to haul liquid hydrogen to energy plants in Europe or North America.

[rabelai2006]

Yes it is true, Iceland has plenty of geothermal, and we have been using this tech for 30 years. We use it for all kinds of thing, mainly electricity, heating up our houses, heating up side walks to melt snow in the winter, we use it for health spa´s(google the blue lagoon) and our swimming pools etc etc. But it can´t be transported effeciently enough. Icelanders are instead heavily investing in geothermal energy plants around the world.

[rabelai2006]

The main downfall of massive energy in Iceland is that we can´t transport it since we live way way far from anyone else. But it is still very good for the economy, we can pick and choose international companies to come here. Already all the alumnium giants are fighting for plants here, but also google, microsoft, yahoo, british telecoms and cisco want to put up data storage centers here.

[venomousbird]

Apparently, there are bigger problems transporting hydrogen than I had realized, but it seems like something that could be figured out. One possible solution is actually the production of aluminum, which can then be dissolved in water with lye added, which makes it back into aluminum oxide, releasing the hydrogen.

[venomousbird]

A little more research has revealed some greater insights into this matter. Apparently, simple compressed hydrogen (not liquified) in a tank will still yield roughly 1/6 the energy of refined gasoline by volume, but nearly 3 times as much energy by weight (mass). Therefore, hydrogen IS a viable fuel that can be shipped. It requires a larger ship by volume than gasoline to be shipped, but the overall weight to be moved is roughly 1/3.

[rabelai2006]

Yes of course there are ways to export the energy, but is it efficient enough with technology the world possess today? No.

Believe me, Icelanders are very far in researching and using green and renewable energy, we are world leaders in geothermal technology. Already Iceland is running 80% on renewable energy, way way higher percentage then the next nation behind us. So if it was possible to export it, we would be doing it now.

[Rizzamabob]

If only you could look forward.....

[rabelai2006]

Ha ha ha yes Riazzamabob, it is a touchy issue right now so please don´t go there. =)

It´s not as bad as it may look though, economists are talking about 10% reduction in GDP next year and then we start balancing again. Considering we have one of the highest GDP in the world right now, it won´t be all that bad. Employment could rise to 10% though.

[rabelai2006]

But did you know that USA has massive geothermal energy? And I mean massive. For example California is one of the richest places in the world in geothermal energy, although not as rich as Indonesia and Iceland. Icelanders are already supervising the building of geothermal power plants all over the world. Including the biggest geothermal plant in the world in China, but also in Germany, USA, Turkey and many other places.

[rabelai2006]

Yes the volume and the weight, but believe me there are massive problems concerning shipping hydrogen. Having it liqufied would mean that the hydrogen would need to be stored in very cold surroundings(this is a problem for hydrogen cars) or else it needs to be in form of gas and that means much much heavier mass than gasoline, therefore the car (or the ship) would need more energy to transport it. Believe me there are many problems concerning hydrogen, but the world is working on it.

[rabelai2006]

But Iceland still plans to be the first hydrogen driven economy in the world.

About geothermal, for you to realize the potentials in this energy go to wikipedia and search for "renewable energy" at the top of the page you can see for how little current geothermal energy counts for the whole renewable energy spectrum. Then go to the middle of the page and see the "future potential". Geothermal potential stands for something like 80% of future potential energy harness of renewable energy.

[DojiSan]

whats happened to iceland now? Has it already imploded?

[rabelai2006]

Ha ha, yes you could say that DojiSan. =)

[solverh]

"Blown out of proportion"?!, ... I think not. Max Keiser seems to be one of the very few that had some somber economic prudent thinking, and hence, was Right on The point. Contemporary history has proved Max Keiser right, ... just like Gandalf of Economists Nouriel Roubini, ... formerly ridiculed by his peers as Dr. Doom

[sanarkhos]

"Yes it was I nice report. I love Max, I often see him on France24.

But this speculation of his about the Icelandic economy is blown out of proportion. (I am an Icelander by the way). Iceland has dealt with this kind of debate before and trashed that similation of Iceland and Thailand completely. The only thing in common with Thailand and Iceland is that both words end with an -land."

Ha ha

[genemodified]

great stuff, look forward to the next show...

[mimeNo9]

This show is so excellent.  I love these economic stories on Al Jazeera!

[julichvyasdi]

excellent thank you so much and I love Max!