A Financial System Built to Fail: a look back at 2008 w/Karl Denninger

[nayanmalig]

met her for? for what? sex?

[ytgv3fc7]

end of clip: give everyone a horse...

um...

VERMIN SUPREME

GIVE EVERYONE A PONY :D

[nayanmalig]

Lauren is built for sex.

[ytgv3fc7]

8 min 45: Denninger does NOT want to admit this will cause a GOLD currency.

He hates gold. Gold is merely the truth-speaker: a collapse in bonds and currency MUST lead to a market-gold currency. MAYBE even a national admission by some nation that it must be so, making gold an officially legal currency and not just a market currency

[ngonea]

Isn't interesting how calmy he can call those who have been the most disenfranchised in this system the losers, and not blink, no outcry to why shouldn't the greedy selfish crocks who caused this be the losers?

[ytgv3fc7]

@ngonea anyone who's analyzed the situation can say who the biggest losers are going to be. This is very literally those who will be the most harmed, who will take the most losses. If you read Denninger's blog you'll see that he has in fact outright called all of this crime and says people need to be put in jail.

[MrTGolden]

With power of taxation is power to form a capital base backing a National Bank. This gives the nation capacity to issue credit, leveraging this, the nation's capital stock, in investments upwardly transforming the economy's physical platform. It is on this physical platform free enterprise operates. Its operation serves to fulfill the promise of leverage turned into real wealth. Such is how interest and principle are paid back many times over. Such, alone, is how tax burdens diminish.

[MrTGolden]

There are a lot of people (Denninger included) who need reminding the American Revolution was fought on behalf of the idea that, no free man can be made slave to anything man-made. This would include illegitimate debt, and those who manage it. Now, truth of the matter is, none of these debt farmers has power of taxation. Thus, they're bankrupt by this fact alone. No need to add the abundance of securities marked to fantasy on their book. In the end Uncle Sam holds the trump card.

[MrTGolden]

In terms of dogs and tails you have it wrong, Lauren. The dog was the private, imperial banking system. The tail was Treasury. Without the dog, the tail would not have wagged so high. The dog drove the tail higher from its Bretton Woods "tucked" 40 years ago to its Ponzi hyper-piqued today. It did so every step of the way. The real question is why would the dog now venture to cut its tail off? Major coup.

[BluSeti]

These people are not capable of thinking outside the paradigm they are embedded in. One cannot solve a problem from within the context (paradigm) that created it. Infinite growth is an absolutely absurd notion on its face, yet that is what our current economic models are built on - and gangster capitalism functions within that model. We're living in la la land, and our so called leaders are engaged in either magical thinking, self delusion, or a propaganda campaign to hide the truth.

[BluSeti]

Losing an election or being barred from re-election are not consequences for poor performance or abysmal failure of any president. They leave office and work for big money with/for those who put them in office in the first place. Politicians need to be barred from accepting any position with any firm or corporation that contributed to their campaigns in any way, or that were the direct benefactors of decisions and laws passed during the term of such a president or member of congress.

[spark300c]

well the can not grow with out rich being so rich or get rich. As economy grow so does equity.inequity is macro economic signal of economy under producing. So for rich to get richer they give out cheap credit and when system fails they get richer as long there inflation. deflation make rich poorer so they hate it. It ether the elites allow the free market to do it work and the elites make less or violent revolution against the elite. it ether a peaceful recovery or violent recovery

[tinemoslo]

Lauren, why don't you understand that in parliament democracy prime minister is elected by parliament. Monte and Papademos were elected and there is nothing unusual in tehnical government.

[RTProducer]

@tinemoslo technocrats are elected by parliament; they are not elected by the people. Under normal circumstances, elected politicians become members of parliament, and then become leaders of their own parties, but they always have to run themselves in popular elections. That's a big difference.

[tinemoslo]

@RTProducer Technocrats are elected by parliament. So are prime ministers, and nobody says that prime minister has to be member of any party. It can be anyone who gets enough votes in parliament. You can doubt the legitimacy of euro-technocrats, but prime minister in never elected by people, so you can also doubt the legitimacy of every prime minister.

I apologize for possible grammar mistakes.

[RTProducer]

@tinemoslo I hear you, but unity governments have always been seen being formed as a transition to new elections. That's not what we have here. When was the last time a prime minister was put in place in Greece or Italy that was not already in the parliament, having been popularly elected first?

[tinemoslo]

@RTProducer Well I must agree on that, Monti and Papademos were put in Berlusconi's and Papandreu's place by EU order, not because of the government failure, which is usually the reason for technocratic government. But in proportional election system we actually vote for parties, not for individual members. I'm from Slovenia and recently we had elections. Some proposed Egon Zakrajsek, current member of the FED for new prime minister. So, it's not outrageous if sb who isn't politician is PM.

[ytgv3fc7]

@tinemoslo I'm seeing unelected technocrats, not elected technocrats.

[optionsupdate]

Kastafounis is anti Ron Paul

[88roro11]

is it me or has the past 4 years felt like we are in a bad... movie?

[blythebaby777]

Who is Karl Denninger?

watch?v=cm89SfLTtgM&feature=re­lated

[88roro11]

@blythebaby777 it leads no were

[chena3]

@88roro11

no where

[louis12346]

Just need an old Law like ten commandments 1. do not Steal 2. do not Lie 3. do not Kick the can

[theoriginalprisonerX]

Really great show with a guest I really respect and Denninger one of the original founders of the Tea Party if you know the man's history. In sharp contrast to the "sugar coaters" who come on to reassure us everything is gonna be just great when the foundation of all this corruption is still there. And all along anything possible in this world can happen and since the economy of the world is so fragile, they can't take a chance on letting gravity take affect. We should expect more suffering.

[CarrieGraham1967]

YES!!! PERSONAL liability IS the issue, isn't it?

What happens when you suggest stockholder liability for corporations? Blank stares, followed by blind rage at the shock of the suggestion.

Politics and commerce have simply become a guilt-distribution system.

[accd1d]

excellent show guys, I love the whole accountability arguments, I think that's one of the really bad things with this world right now, no one is accountable for anything. And most importantly, the heads of governments, corporations, should be made accountable for their actions, broken promises ect.

[1977Melville]

Davos=the yearly much ado about nothing.

[1977Melville]

0:40 Europe is just fine! They just need perpetual bailouts! LOL! I love it when Lyster calls out the bullshit artists!

[GalaktikNinjA]

"TWO JAPANESE CITIZENS CARRYING $134 BILLION WORTH OF UNDECLARED, POSSIBLY COUNTERFEIT U.S. BONDS DETAINED IN ITALY WHILE TRYING TO ENTER SWITZERLAND" Hey Capital Account, if you guys get time mabye you can take a look into this story.

[TonyUnplugged]

@GalaktikNinjA - That is an old story from June 8, 2009. The public will never know the real story.

[GalaktikNinjA]

@TonyUnplugged I only mentioned it because there is a recent lawsuit that was brought forward.

[Stevie68000]

Jewish bankers are going down !

[ProthoPectore]

SCYTL will be counting the votes along with ES&S and Diebold.

who is SCYTL? who owns SCYTL? who sits on the board of Balderton Capital?

Tim Bunting, former Goldman Sachs. Mark Evans, former Goldman Sachs. and Charlotte Anne Swerling, former task force member of Tony Blairs governmental key objective task force.

now we have ES&S and their child company Diebold having been programmed by a federally convicted felon of over 20 counts of installing back door software into voting machines, and SCYTL.



[turbotrana]

Rewinds are great. They really help make the point. LL viewpoints at the intro are excellent. She explains herself very well. I have had similar viewpoints for the last 10 years, but in my circle I seem to be the odd one out looking at issues from a long term perspective . Great work.

[1977Melville]

@turbotrana. Lyster is pissed and rightfully so.

[UltimateBargains]

You have never known true poverity until you've owned a horse.

[lgarvey1979]

@UltimateBargains hahaha

[NathanHaleLives]

Ya know, I think we need a show NOT run by corporate business people that only see capitalism as the solution to market problems. Does anyone else see this trend? Why are business models only based on capitalism and free market ideology? It's a show by business people for business people. Any ideas?

[JanRichardus]

@NathanHaleLives Capitalism has turned into cronyism, fraud and looting.

[UltimateBargains]

@JanRichardus That's why we need to get back to true capitalism. Crony capitalism is just back-door socialism. Socialism is a crime against humanity.

[JanRichardus]

@UltimateBargains Socialism, as in Sweden Denmark Holland Uk?

[NathanHaleLives]

@JanRichardus I'm sorry but the term capitalism has nothing to do with your "free market" economic theory. Capital is a means of production or in Marxist terms is something used to buy a means of production and sell it again. Seriously, learn the meaning of the term. You people also abuse the enlightenment principles of Adam Smith who did not see your "free market" argument as means of selfishness, but as liberty. America will continue to decline because selfishness is vogue as a social epidemic

[JanRichardus]

@NathanHaleLives US will cave from the inside just like the former Soviet Union was rotten to the core.

[NathanHaleLives]

@JanRichardus Right, because the Soviet authoritarianism of Stalin and the legacy of the oligarchy still exists. Putin's United Russia is just like the American unilateral political system. More so, both have hijacked the government from the people and use their taxes for private enterprise. free market when they profit, tax payer bail outs when they lose. When will humankind learn the disease of money. Insanity is doing the same thing over and over again expecting different results.

[1977Melville]

@JanRichardus. That's the premise of Orlov's Reinventing Collapse. His site is club orlov.

[ocf1fan1]

@JanRichardus Turned into?!?! It's been like that ever since the Rothschilds founded their banking empire back in the 18th century and when the BIS was founded in Basel, Switzerland in 1930. Then ofcourse another horrible moment in capitalism history was when the extremely corrupt Federal Reserve was founded in December of 1913.

[UltimateBargains]

Term limits are better than election incentives. Then we'll have true public servants who are not drafting legislation to get re-elected, instead of career policitians who rig the elections, draw district lines to get themselves re-elected, lie to their constituencies, and rob the public treasury to give away to their big pocket political contributors.

[NathanHaleLives]

@UltimateBargains More so, lobbying has to stop and to be made illegal. The Electoral College has to be eliminated. Address the issue of money and the corruption will stop.

[boohoo746]

@NathanHaleLives address the issue of unconstitutional political power, and the lobbying will stop. simply fixing the money is not enough if you still have a fascist government.

[whygoldandsilver]

Great show Lauren and Demetri, keep up the great work

[NathanHaleLives]

@whygoldandsilver Sell, sell sell, keep up the good work.

[UltimateBargains]

Trying to legislate prosperity always causes misery. Let the free market discover the prices. If prices move up or down due to free market forces, then society benefits. Legislating that prices can only go up (wage & price controls, short selling restrictions, etc.), will crash the economy.

[NathanHaleLives]

@UltimateBargains Current legislation needs to be enforced on the corporations and the banks---they need to be regulated. If you let them have even more deregulation it would be like going to cock fights. Seriously, is that the world you want?

[Solosohi]

Great show, Lauren.

[hwy9nightkid]

Karl Denninger is so smarmy to me.. big turn off . Doesn't make him wrong, just annoying

[NathanHaleLives]

@hwy9nightkid I agree. More salesman. I cannot stand these propertarian libertarians...the worst. They are the big conundrum of the current situation. More free market in a wild west economy. Yeah, a small group of people have taken over the government, but they are AVID deregulation private enterprisers. How about some non-propertarian libertarians on the show?? There are Libertarian socialists that also want direct democracy. Come on now, some variety.

[TheMadronas]

Lawyer/Politician = habitual liar

[mortaljay666]

^_^ like it ^_^