Warren Pollock on Max Keiser Regarding Bank Holidays

Starting from the MF Global Crime Scene we get to the big story whereby law gets changed to selective interest. Speculation will always be subsidized by customer funds. Real Assets are only 1/100th of total speculation; a small percentage move in risk assets results in the necessity to rape savings. Nothing is safe including pensions, bank accounts, brokerage accounts. We are setting precedent to change laws so the crimes can be committed. Max starts off post WWII but the idea of Limited Liability (looting by law) started in the 1500's and 1600's (solidified by QE I). Sooner than later these financial crisis events become part of a physical world crisis. The distortion of law distorts the life support dependencies in the physical world. We have reached maximum denial where fact is ignored by the fourth estate. The physical world breakdown will be expressed first in a financial breakdown. This is all an accounting problem. A small percentage loss in derivatives cannot be covered and when they are netted we find out that risk neutral is really very risky.. Its not just MF Global its everyone with a bank brokerage account, insurance, government entitlement. Oil is not properly cost accounted. We see US Empire breaking down in MENA Middle East North Africa. Max talks about the cost of food and he is great in that regard in making that analogy. Empire America will fail monetarily. Nothing is safe in terms of savings. When the fraudsters start committing fraud they are going to distort the cost of food and other life support dependencies. (Russia today allows distribution of this video on a Non-profit basis).

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• jpm
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[EVRYMANaKING]

Nice work Warren. congrats on The Keiser Report. Great reporting.

[carp1844]

Thanks Warren and Max. I am a humble carpenter with no financial background and yet you've managed to make it very understandable. I get it now. Keep up the good work.

[RoberTastic]

awesome !

[RoberTastic]

awesome !

[tcorourke2007]

P.S. The commenters on your channel display ten times the intelligence of the average YTer. Everyone noticed Max's unusual silence...

[tcorourke2007]

Awesome spot, Warren. If I understand correctly, you believe a new currency will be issued with your example "1 new dollar worth 5 old". But you didn't indicate what this new dollar will be pegged *to*. Gold? This seems less likely than devaluing by bailing out the banks via money printing to make the depositors whole again (nominally), which would obviously have massive popular support. Lots of time left/printing to go before gold in reserves (supposedly) covers the money supply.

[LightReuse]

CFTC Rule 1.25 all clearinghouses can invest customer deposits in US & foreign gov't debt, foreign & US corporate debt, bank cds, US agency debt (Freddie Mac), etc. Don't need your permission or knowledge & you take on 100% risk of loss in the investments, but not share in profits from them using your funds. Bank of America began derivative clearing operations in 2010. S&P downgraded 3 major clearinghouses; MF Global one CH down--2 more to go and then some. The clearinghouses will fail. .

[LightReuse]

Ronald Regan worst US president & his worst move reestablishing US diplomatic ties with Vatican which were cut because of murder of Abraham Lincoln. Vatican is at war with the US Constitution. Vatican Jesuits undermine countries from within. A lot of the worst of the worst come out of Jesuit owned/operated Georgetown Univ. (George Tenet, Bill Clinton). GU professor Viet Dinh one of the drafters of US Patriot Act. Vatican, high level Roman Catholics, Jesuits, direct threat to US Constitution

[javabarbarian]

Warren made the big time!

[DEMCAD]

My question is how much of the average person's purchasing power will be cut by this bank holiday?

[DEMCAD]

I'm so happy to see you on Max's show.