[OTE14] On the Edge with Max Keiser – The Fed, front running, ponzi schemes

Stacy Summary: Guest is Tyler Durden of ZeroHedge! We talk the Fed, ponzi schemes, front running and high frequency trading.

To view episode as one file, visit Archive dot org

62 comments on “[OTE14] On the Edge with Max Keiser – The Fed, front running, ponzi schemes
  1. Daniel S says:

    first comment haha

  2. Phil says:

    @M&S+Tyler .. nice show.

  3. Phil says:

    Pressure (Countdown) Toward Breakdown
    By Jim Willie CB
    Aug 13 2009 3:15PM

    http://www.kitco.com/ind/willie/aug132009.html

    … “AIG has been busy conducting a shell game to move assets from recently audited subsidiaries to the next subsidiary to be audited, in order to hide its neverending bust played out”…

    Reminds me of when US banks were “passing on” their gold for the next bank about to be audited …pre-1900s.
    i.e. the auditors never noticed they were counting the same gold “assets” over and over again.
    ;-)

  4. Dedo says:

    Nah,….sorry men, but those don’t count as comments, so by process of elimination, I’m first.
    My comment on the show is,..I’m sure if it’s anything like the previous shows it’ll be fantastic !

  5. Dedo says:

    damn you Phil,….where did you slip in?

  6. Mongo says:

    Tyler said that the program trading info is on nyse.com which it is, but I can only find that it amounts to roughly 27% of volume for first week in august. Am I missing something? We were talking about approximately 70% of program trading.

    I don’t dought it but how can I find more info about the 70%? Except on Zero Hedge. I want to know how to calculate this..

  7. m says:

    The old bait and switch, huh, always wondered what the con in
    con-man stood for, confidence, thanx max & staci
    now let’s all do the pump&dump
    or was it the slash and burn
    better yet
    cut and run

  8. Mike says:

    The fact is trading isn’t joke people can make or lose millions in this game. YOU CAN”T HAVE ONE TRADING CO / BANK do what ever it wants and have the fed in its pocket. You have better protection going to a casino in Las Vegas then you do in the stock market imagine that!

  9. daniel says:

    haircut!!!!!!!

  10. Joe says:

    Hello Max,

    Greenspan isn’t cool enough to be an Ace of Spades. As a longtime card player, I can’t accept that analogy. Sorry. Please don’t marry that freak’s face with one of my favourite things in the world: playing cards. LOL

    “Collapse is off the table” Does that really mean we’ve already collapsed? Like, we’ve collapsed off the table? Perhaps.

    Max, one final comment:

    THANK YOU. THANK YOU for pointing a massive spotlight on what these thieves are doing. THANK YOU for baring the truth. THANK YOU THANK YOU THANK YOU. Keep it up, stay strong and remain cool. CRIME DOESN’T PAY. The truth shall set us all free.

    BUY GOLD, FOLKS. you’ve got months now…

  11. Mike/Liverpool says:

    Oh Hum…………Boring
    The one question that max asked, then stopped him from answering:-

    “When is the FED going to blow up?”

    Like to have the answer to that one.

    Mike

  12. Teresa says:

    That was such a cute picture of Stacy on the show. Those colors look good on you.

    Tyler has some good information. I understand his desire to have a one-to-one relationship between statement and facts, however, there is virtue in being able to restate things in a way the larger public will understand. Max did a good job with the siphoning analogy.

  13. Richard@lattitude30N says:

    @ 22:15 GMT PressTV announced that your guest is Marc Faber???? It is live @ 22:35 GMT…

  14. 13BlackCats says:

    @Joe
    Whoot?! Seems to me a deck of “most-wanted financial terrorist” cards would be perfect “suited” for playing “Kaiser”.

    Ya, ya, I know…. don’t quit your day job…

  15. Dedo says:

    @Mike/loverpool,……….Me ole liver from Loverpool, you’ll have to be more patient (Try thinking plant life time frame)
    gives you a broader perspective,.. you know, like the bean!
    I’ve got a friend, who used to be a sniper,…gleened a lot of info’ from him,..especially how to slow the heartbeat , manage the breathing. : )

  16. Richard@lattitude30N says:

    I seem to remember an interview with Kevin Trudeau ( of infomercial fame ) who had two important facts: 1) today we consume 5X the amount of food to receive the same nutrient value as one meal consumed by our grandparents!!!
    2) The elite ( who he claims to have met=Bilderbergers) believe that they exist in a parallel universe from the majority of humanity, thus are mostly all eugenicists( homo sapien sapien ??)!!! There are a few, a new breed, who find room at the top for a few more newcomers though, and that is the rift…
    If we continue along the ‘slippery slope’ and all the details are in the open and in public that crimes continue…what does that say about the unwritten rule that justice for the wealthy and the poor are forever distanced?….that Boss Hogg ( Blankfein??) rules…and we are the desparate masses?….If the insiders haven’t offed all the well spoken critics ( Jesus, Gandhi, MLK Jr., JFK, RFK, and so many others ) throughout history then power that corrupts has truly become the force that we all will have to deal with in our daily lives…I found Clif High a really well spoken and quick minded speaker; in the future he and Max would pick up the pace as I found Tyler a little didactic for an appropriate guest on teh OTE show…see http://www.halfpasthuman.com

  17. 13BlackCats says:

    err… perfectly.

    Anyhow… perhaps in expanding on Max’s request to explain high-frequency trading… in timely fashion TD has posted a ‘HFT For Beginners’ video over at ZH today…

    http://www.zerohedge.com/article/hft-beginners

  18. suanna says:

    Tell the people , but keep it SIMPLE ! ……..whew, thanks for those clear analogies Max.

    ………poetic justice………( that made me burst into laughter )…….it`s like , well , nature. What goes around comes around ,kinda thing.

    As these psuedo ” green shoots ” grow into forests , the markets will be sprayed with ” agent orange ” and all will be ” defoliated”. The naked trunks will all ask , ” what just happened ” ?

    Thanks for the warning.

    Regards S

  19. Dedo says:

    HFT,……just think of it as another stealth tax,….just cause you know about it,.doesn’t mean you’ll be able to stop it.
    Unless of course you’ve got an army behind ya,…..well, have ya punk,…huh?

    http://www.youtube.com/watch?v=zkKXy_0eO6I

  20. Mike says:

    I’m starting to think more and more this inflated stock situation will not be able to hold unless GM gets that Chevy VOLT 233 mpg auto out the door tomorrow I mean really things just don’t look that good, people are not going to have the buy and hold attitude with stocks the back end is going catch up with this market forcing it down. In which case I predict in less then 3 months the eur/usd cross will trade below 1.25 its previous low in march.

    As Sarah Palin would say you can’t put lipstick on a pig

    This will be good a serious upset in the market will get congress attention.

  21. JR says:

    Jeepers, that interview with Durden was painfully boring. Start bringing up technical jargon ad nauseum, and I’m Seacrest-Out. Get to the point already.

  22. Aridzonan says:

    The hits just keep on coming! Papal infallibility is back and is alive and well on Wall Street and at the Fed!

    Next stop the new Dark Ages. Where there is no pesky middle class. Has anyone herd the “E” word used? Regulation gets mentioned ad nauseum. But, enforcement is never breathed by the MSM. Obviously, the Fed is selling papal indulgences to Wall Street.

    Max keep nailing your theses to Wall Street’s door. What’s your most recent call on dollar devaluation??

  23. Mike says:

    I think possibly the best currency to purchase now if the turds hit the fan is the yen without a doubt one currency that needs a banking holiday at least compared to USD

  24. Mike says:

    Maybe yen go 106 to dollar
    understand US stock market needs a major correction for this to happen

  25. Mike says:

    If you live in US best way to play yen is BUY FXY yen etf

  26. Mike says:

    You could use a forex ACC with 400 to 1 leverage but I would not advise that because the MM will back up on you almost a sure thing! Burnt you’ll be crying the blue no more acc at all!

  27. The Dark Lord says:

    W00t! Snazzy graphics. It was like a 10 minute TAM with pictures.

    Did anyone catch the interview with Paul (Whale Wars/Sea Shepherd) Watson, about his way of waging ‘economic warfare’? (16 mins, 7mb):

    http://www.treehugger.com/files/2009/08/captain-paul-watson-podcast-interview.php

    Get a phone interview with him – I’d like to hear it his take.

    :)

  28. Tyler put me to sleep. Thankfully Max woke me up.

    Boring topic for non-traders.

  29. Don Natter says:

    Hi Max and Stacy,

    I just have recieved an invitation from Peter Schiff to New Orleans Investment Conference, Oct 8-11. What I am really surprised of is a fact, that war criminal Karl Rove is going to speak at the conference. I believe that general public should be informed about that and I would like to ask you to reflect his presence at the conference in your broadcasting.

    Regards,
    Don Natter

  30. Mike/Liverpool says:

    What ever happened to the interveiw with Eric Jansen?
    Mike

  31. dan valley says:

    Lets paint barney frank purple and beat him with a stick

  32. Tyler and Max are funny…
    “Let me back up for a moment”
    “Let’s back track on that”

    GOOD GAWD!!!
    Tyler and MAX need at least 90 minutes…
    maybe a couple hours…
    they are both trying to supplement historical data in order to get to a point…
    Not that I’m complaining… but clearly, those two minds in the same conversation NEED more time to flesh out the points…

    (I’d hate to see the result if those two disagree on something ;) )

    MEANWHILE…
    Speaking of the SLP program
    the TSX announced today that it will be getting rid of the ELP (SLP, canadian style) rebates,
    and offering a discount to retail day-traders that work the stocks under a $1…
    I wonder if it has anything to do with the Scandal over GS’ abuse of the US program?
    Or perhaps CIBC’s bizarre profits last quarter…
    Or maybe the Yankee Banksters have stopped giving a shit about the Canuck markets and so the TSX has to make up for lost profits???

    And speaking of CIBC
    Look out IRELAND
    apparently CIBC wants to become a minority holder of Allied Irish Bank…
    Now these guys can barely keep their head above water with the aid of HFT on the TSX, and now they are coming for you…
    I wonder how much debt they’ll sink into your system to “balance their books”
    http://www.theglobeandmail.com/blogs/streetwise/cibc-in-ireland-come-on/article1252053/

  33. Mini US says:

    @ Max & Stacy

    Hey guys,
    Max gets a mention on this GATA interview with Kingy today.
    They talk about the German Gold in US, etc.

    http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2009/8/14_GATA.html

  34. Youri Carma says:

    Interesting show Folks wiith Dude Durden!

    Listen to Bob Chapman on the Alex Jones show today what he has to say about the FED Forex trickery http://www.infowars.com/

    Forex reserves shrink $402 mn as major currencies turn volatile – Economic Times http://url4.eu/EWGX

    In fact this FOREX doodeling around to prop up the dollar has been going on even before everybody became aware of this crises. Huge amounts of money from Europe was used to hide the fact that the dollar was getting toasted. These huge amounts of money were reported in the very small side columns in European newspapers which usually contain the real news.

  35. Youri Carma says:

    The Motivation Behind The Countdown http://tinyurl.com/pcqo66

  36. pg says:

    that was great, pg

  37. Youri Carma says:

    FOREX INFO USA The Tide Has Turned – It’s all downhill from here folks! http://tinyurl.com/oyjnez

  38. Youri Carma says:

    Bears prowl Wall St as insiders dump stock http://tinyurl.com/lekjeb

  39. Tony says:

    Tyler Durden was less controversial than Tyler Forence! He sounded like one of those talking heads from Goldman Sacks on CNBC. He made it sound like its great that GS is providing luquidity…thats like saying The US army is providing recreation to the people of Bagdad by providing BOMBING!!

  40. vagabond says:

    i once listened to a BBC interview with allan greenspan where he was asked to give an impromptu weather forecast as an exercise in obfuscating or saying nothing ,which he proceed to do in a devastating performance. personally the only forgiving quality i can find about alan greenspan is that when he was younger i heard that he played the saxophone [jazz] [same interview.] perhaps if he had continued to play the saxophone instead of developing an interest in economics we would all be better off ? perhaps if hitler had gone to art school we would also be better off ? perhaps if george bush had continued to hit the bottle we would all be better off ? but the trouble with guys like this or a system like this is that as soon as one loser walks out the door another one walks in, i wonder what hobbies mr bernanke and geither used to have ?

  41. Hynkel says:

    Max always says: “Bye Y’all”

    Well, Y’all better learn how to skin a buck, and run a trout line; I guarantee it.

    Max knows what’s coming. And you can’t eat none of the shit that’s on paper.

    But you can skin a buck with a golf ball and a ATV:

    http://www.the-deer-hunting-guide.com/skinning_deer.htm

    Hey, you gotta eat – right?

  42. michael olsen says:

    Max,the obama health care is a nice distraction from the more important financial issues and crimes.Just like the AIG bonuses for 160 mil when Goldie Sachs got 12.9 bil.Please keep the good info coming…mike olsen rye,ny

  43. Youri Carma says:

    Colonial BancGroup becomes biggest bank failure of 2009 http://tinyurl.com/q2nz2s

  44. Joe says:

    @13BlackCats

    LOL. Actually, that works for me. Good one! :)

  45. Joe says:

    @Hynkel

    Dude, that is a very smart way to skin a deer. I’ve never skinned a deer. I don’t even hunt. I live in the city! But I do like hamburgers, steak and boiled beef soup, so in the event of TSHTF, I might need to start hunting deer.

    Now, this idea is very cool, but I don’t have an ATV. I could use my Civic, though.

    Also, in terms of the golf balls, I certainly won’t be using my Pro V1s or Nike One Golds for this. By the time I drag that hide off, the ball will probably be full of guts and blood, worse yet, mangled from all the Civic hide-draggin’.

    No, I would definitely need to pull out the old, beat-up cheapo golf balls for this task. Oh, and I also need a gun. Better get one of those soon. And learn how to run a trout line. No idea what that is, but I love trout, so it’s definitely on the agenda.

    Take care!

  46. Youri Carma says:

    An Avalanche of Insider Stock Selling The Last 2 Weeks http://tinyurl.com/m27gjy

    Royal Bank of Scotland analyst advising clients to get out of markets before September http://tinyurl.com/njrese

  47. Youri Carma says:

    Geithner asks Congress for higher U.S. debt limit http://link.reuters.com/suq99c

  48. JakeBour says:

    Tyler D obviously didn’t realize the compression & brevity necessary on a brief video such as On The Edge.

    Hey Max, I have a request for an interview that I think would be highly entertaining. How about Jim Willie.
    Recently he made the most startling of calls, actually very ballsy of him. So please interview this kamikaze before its too late.

  49. Anon Blogger New Viewer says:

    Ha. Love it . Add me to the other comments.

    Love the graphics, especially the guy siphoning off the gas who gets some in his mouth and has to spit it out.

  50. vagabond says:

    @Hynkel ,… cann’t imagine that your love of killing deers gets the girls in ,but i guess that’s another matter ?

  51. natalie says:

    @stacy and max: THANK YOU THANK YOU THANK YOU THANK YOU THANK YOU MERCI MERCI MERCI GRACIAS and GRACIAS again for shining your big light on this obscure matter, please keep on educating us!!!!!!!!!! Have a nice day!

  52. doomandbloom says:

    max and tyler! fantasich!

    seems like the the Elves, Dwarves and Men of the West of Middle-earth…are joining forces against the Dark Lord Sauron(s)….

  53. doomandbloom says:

    this guy is brilliant…max u should get him on your show,,,

    http://www.youtube.com/watch?v=Y7ZN2F_7K7U&feature=channel

    he even mentions Max @ 7:48…..

    of course you may need to do a on site interview:-)

  54. vagabond says:

    an interesting story from Prof Keens website debtwatch [ ‘ video starts @ 16:39 into video ] the story was about a group in California who last year purchased $29 million dollars worth of bad debt to do with housing then re- packaged and sold it in the form CDO’s to the value of $130 million dollars to speculators betting that the mortgages would fail . the group then having made about $100 million dollars this way ,then gave $29 million dollars to the home owners so the speculators lost. this group is now apparently being sued by Merchant banks. Prof Keen is a bit short on specifics with this story so i have not posted a link but i shall see if i can find out more detail ? one suggested solution to this whole sorry mess is a re-definition of financial assets, but i guess we shall have to wait for the cows to come home first .?

  55. fancychance says:

    kick ass max

  56. Richard@lattitude30N says:

    @vagabond: “…speculators betting that the mortgages would fail…” Somehow there seems to me that there are a few steps missing…UMMMMMMMM! I wasn’t aware that CDOs could be valued on the down side…it usually took a CDS to “guarantee” the validity of the SIV and then hope that there was a payout when the SIV failed( defaulted)…check again..or find the link

  57. Dusko Jocic says:

    Hi Max,

    Great post as always! There is currently a movement to ban high frequency trading gaining support all over the world. The timing of this move is very suspicious to me. As I study socionomics extensively.

    I agree front running is bad as we all lose money, taxpayers included. But I have the counter tendency to view flash trading as a positive in this type of market environment. When the market is crashing or potentially crashing you need liquidity to get out. 1 cent per share Goldman Sachs gatekeeper fee be damned. And if the market continue their elliott wave pattern down down down and there is no liquidity to get out out out then billions of pensioners will lose in the future.

    I know it’s their own fault in many cases for speculating and not getting out now on this false market recovery. But imagine if most people had to watch their investments drop 80% with no chance of escaping the market.

    If I was orchestrating the next phase of the crisis this is what I would do to profit off the market. When Goldman Sachs releases statements like, “Someone with our software can potentially influence markets in unnatural ways.” Or something close to that their public relations department wants common serfs to get upset and attack them. They want to look like the bad guy so they can sell their positions, pull the liquidity rug from under everyone, short the markets and watch the markets burn for a few years and then buy with both hands down on insanely low values.

    Any thoughts would be appreciated.

    Cheers,
    Dusko.

  58. Conceptual Continuity for ya

    http://www.youtube.com/user/walstreetpro2

    In his latest vid, HE BREAKS HIS BAT!!!!
    He also has FINANCIAL CRISIS CARDS
    Greenspan looks like he’s the King of Spades… not the Ace of Spades (which is Bernie Madoff)
    http://financialcrisiscards.com/

  59. Dear Mr. Keiser,

    I have been a regular watcher of “On The Edge” for a few weeks, and i like it very much. However, I am really frustrated at not being able to understand more than half of what interviewees say on the phone on account of the bad sound quality. For this reason, I stopped watching the August 14th show halfway through. Mr. Keiser, is there any way this can be resolved?

    Best Regards,

    Christophe Douté

  60. Mary says:

    Waves of Euphoria and The Elliott Wave 2 Trap: Watch Out!

    http://tinyurl.com/lkhu74

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