On The edge with Max Keiser/ 09 /11 /2009/ P3
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Thanks Max and Rob, Great video. I think that we can get through this mess if we tax the poor and working class enough. And have all are workers work for the lowest wages in the plantant. Go Global Capitalist! Jim Morris
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In the end the Chinese credit will be defaulted on AND I think as a taxpayer we will default on loans of "our" money being printed up by the Central Reserve will be waved, or there will be riots. These bankers are criminals, financial treasonists, and out of touch with people on the street.
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Like I said: inherent fraud. Somebody alert the China!
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"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." -Lord Acton
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There needs to be a reset in the system and the only way that can happen is to take to the streets unfortunately. The potential for prosperity in the US is going down and down by the day. If you "have it all" you don't want things to change, if you "have nothing" you riot.
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I think his point is the derivatives are worth 1 cent on the dollar but being put on the books as 1 dollar. The liability is still there so if America bails out JP they accept all the liability. Interest rates swaps can be used to go up and down, like the "tools" he was mentioning.
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...Meaning Max was wrong when he said "If JP failed, it would take America down with it."
Because those books aren't worth "500% of the GDP of America itself"... but 5%.
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They said the Jefferson County derivatives were represented as being worth 100 cents on the dollar, and really worth 1 cent?
Well then, aside from that inherent fraud, it means you have to apply that same general ratio to JP Morgan's total "derivative book" he mentioned earlier. (Especially because he said Interest Rate Swaps were a large portion of the total).
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ur the man....tell it how it is....
Gotta love Max, ever the first to smite the Federal Reserve scumbags, Goldman Sachs and JP Morgan. GO MAX!
wazza33racer 2 years ago 3
so the usa is a criminal enterprise
1mealperday 2 years ago 3