[KR44] Keiser Report – Markets! Finance! Scandal! – And The Gold Standard with J.S. Kim!

Stacy Summary: This week we look at the scandals of lying children, probing banks, Wall Street barbarism and German fantasies. In the second half of the show, Max interviews J.S. Kim, Chief Investment Strategist for SmartKnowledgeU, about systemic fraud in the Wall Street casino scam and a return to the gold standard. **UPDATE** – Iceland news reporting on Max’s offer of one ounce of gold as reward for information leading to arrest of former Kaupthing chairman & co-CEO. **UPDATE 2** J.S. Kim’s latest blog entry, “Bangkok Now, Who’s Next?”

120 comments on “[KR44] Keiser Report – Markets! Finance! Scandal! – And The Gold Standard with J.S. Kim!
  1. frances snoot says:

    Synthesis is always the Hegelian ideal, right?

  2. Dedo says:

    @sklein,….Thanks for the heads up bud’,….
    But I don’t trust any website, (and nor should anyone,IMO) until I’ve had a chance to discern the facts,..
    For my information,..why do you say this?
    BTW: I recommended it, because most folk on this site are easily led by politics,…and it’s more on topic with what they discuss here!
    Personally, I have far reaching ideas of how things “really” are,..hence my disconcerting attitude,..now and again : )

  3. @Snoots

    Have you read Keynes’ General Theory?
    I’m still waiting for my copy (should be here today or tomorrow)

  4. Jeannon Kralj says:

    The message of the recent study that Stacy quoted at the beginning is really very old information.

    Confirming the acceptability of lying was Dr. Michael Lewis of the New Jersey Robert Wood Johnson Medical School on NBC’s “Today Show” (January 22, 1990) when he said: “Lying is an important part of social life, and children who are unable to do it are children who may have developmental problems.”

    Twenty years ago, there were many studies showing that the growing acceptability of lying was already far advanced. Keep in mind there are many forms of lying. The “little white lies” and “fudging” of old has morphed into universal fraud.

    Today, I see everything through the lens that our media, our teachers, our scientists, our clergy, our media people, our business and financial people, our “elected representatives” – virtually everyone all around us – are lying to us. There fake debates and political theatre are also a form of lying.

    The social engineers in the USA from the 1930s onward did several things to make lying not only more acceptable, but actually necessary to succeed.

    One example — a federal court in the 1980s ruled that public school students could be forced to read a series of (35) stories that had children lying or rebelling against their parents with no negative consequences.

    Really all forms of immorality is lying.

  5. nama rama says:


    You never forget the Irish, Many thanks for that..

    Great show as usual!

    When is Gerald C on?

  6. kitty says:

    Max, great show as always but please LOSE THE WIG. So what if youre thinning – just dont do the Bobby Charlton – its very undignified.

  7. Please do not use the word “orchestrating” unless you are speaking of the genuine composing of music. Writing music is hard and heartfelt; manipulating markets is loveless (unless you have kinder to support).

  8. RobertM says:

    @ around 22:15 Mr Kim says the gold standard gives the power to the people to value money. This is completely bass-ackwards. I suggest reading “The Lost Science of Money” if you’re confused about the history of the gold standard and how it has been shown that throughout history it has been a complete failure. It’s a commodity that can vary in price, there can be shortages and oversupplies of it, its price can be manipulated, those with the most exert undue political influence, on and on. It has intrinsic value (melt value, jewelry, coinage) and extrinsic value (money). You can’t have a currency that has wild fluctuations so you have to set a price, which the market does, certainly not the “people” as Mr Kim says. If you’re going to set the price you have a fiat currency that has ‘some’ melt value. If you do that, why not peg your currency to the price of wheat or some basket of commodities. Civilizations found out long ago that it doesn’t matter what your currency is based on, it’s WHO controls the SUPPLY. The Continental currency worked fine until the British counterfeited the poo out of it. And the Greenback worked well until the bankers took control (again! for about the fourth time) after Lincoln’s death.
    Look, this is simple. The giant national debt is, at its core, due to the impossible math of fractional reserve lending. We’ve hit the debt saturation point. The power to create money must be returned to ‘the people’ as you suggest and in a representative democracy that means Congress. Ever wonder why the founding fathers put it in the Constitution (Article 1 Section 8)? A corrupted Congress (gee…imagine that) in 1913 screwed the people over by putting the power to make money out of thin air into the hands of private banks and it’s taken right around 100 years for it to hit the exponential ceiling and start unraveling. Fix this and you fix the world.

  9. Mr Grinch says:


    Gotta love this…. The Chinese justice system knows how to deal with these vampire banksters. Very old Roman code (12 tables) ala pound of flesh….
    “TABLE III (Debt)

    Aeris confessi rebusque iure iudicatis XXX dies iusti sunto.

    A person who admits to owing money or has been adjudged to owe money must be given 30 days to pay.

    Post deinde manus iniectio esto. In ius ducito. Ni iudicatum facit aut quis endo eo in iure vindicit, secum ducito, vincito aut nervo aut compedibus XV pondo, ne maiore aut si volet minore vincito. Si volet suo vivito, ni suo vivit, qui eum vinctum habebit, libras faris endo dies dato. Si volet, plus dato.

    After then, the creditor can lay hands on him and haul him to court. If he does not satisfy the judgment and no one is surety for him, the creditor may take the defendant with him in stocks or chains with a weight of no more than 15 lbs. (or less if he desires). The debtor may live where he wishes. If he does not live on his own, the creditor must give him a pound of wheat a day. If he wants to he may give more.

    Tertiis nundinis partis secanto. Si plus minusve secuerunt, se fraude esto.

    On the third market day, (creditors) may cut pieces. If they take more than they are due, they do so with impunity.

    Adversus hostem aeterna auctoritas esto.

    Against a foreigner, the right of property is valid forever.”


    China’s hi-tech ‘death van’ where criminals are executed and then their organs are sold on black market

    By ANDREW MALONE Last updated at 11:14 PM on 27th March 2009

    Death will come soon for Jiang Yong. A corrupt local planning official with a taste for the high life, Yong solicited money from businessmen eager to expand in China’s economic boom.

    Showering gifts on his mistress, known as Madam Tang, the unmarried official took more than £1 million in bribes from entrepreneurs wanting permission to build skyscrapers on land which had previously been protected from development.

    But Yong, a portly, bespectacled figure, was caught by the Chinese authorities during a purge on corrupt local officials last year.

    He confessed and was sentenced to death. China executed 1,715 people last year, so one more death would hardly be remarkable.

    Disguised: The execution vehicle looks like a normal police van

    But there will be nothing ordinary about Yong’s death by lethal injection. Unless he wins an appeal, he will draw his final breath strapped inside a vehicle that has been specially developed to make executions more cost-effective and efficient.

    In chilling echoes of the ‘gas-wagon’ project pioneered by the Nazis to slaughter criminals, the mentally ill and Jews, this former member of the China People’s Party will be handcuffed to a so-called ‘humane’ bed and executed inside a gleaming new, hi-tech, mobile ‘death van.’

    After trials of the mobile execution service were launched quietly three years ago – then hushed up to prevent an international row about the abuse of human rights before the Olympics last summer – these vehicles are now being deployed across China.

    The number of executions is expected to rise to a staggering 10,000 people this year (not an impossible figure given that at least 68 crimes – including tax evasion and fraud – are punishable by death in China).

    Developed by Jinguan Auto, which also makes bullet-proof limousines for the new rich in this vast country of 1.3 billion people, the vans appear unremarkable.

    They cost £60,000, can reach top speeds of 80mph and look like a police vehicle on patrol. Inside, however, the ‘death vans’ look more like operating theatres.

    Executions are monitored by video to ensure they comply with strict rules, making it possible to describe precisely how Jiang Yong will die. After being sedated at the local prison, he will be loaded into the van and strapped to an electric-powered stretcher.

    This then glides automatically towards the centre of the van, where doctors will administer three drugs: sodium thiopental to cause unconsciousness; pancuronium bromide to stop breathing and, finally, potassium chloride to stop the heart.

    Death is reputed to be quick and painless – not that there is anyone to testify to this. The idea for such a ‘modern’ scheme is rooted in one of the darkest episodes in human history.

    The Nazis used adapted vans as mobile gas chambers from 1940 until the end of World War II. In order to make the best use of time spent transporting criminals and Jewish prisoners, Hitler’s scientists developed the vehicles with a hermetically sealed cabin that was filled with carbon monoxide carried by a tube from the exhaust pipes.

    The vans were first tested on child patients in a Polish psychiatric hospital in 1940. The Nazis then developed bigger models to carry up to 50 prisoners. They looked like furniture removal vans. Those to be killed were ordered to hand over their valuables, then stripped and locked inside.

    As gas was pumped into the container and the van headed towards graves being dug by other prisoners, the muffled cries of those inside could be heard, along with banging on the side.

    With the ‘cargo’ dead, all that remained was for gold fillings to be hacked from the victims’ mouths, before the bodies were tipped into the graves.

    Now, six decades later, just like the Nazis, China insists these death vans are ‘progress’.

    The vans save money on building execution facilities in prisons or courts. And they mean that prisoners can be executed locally, closer to communities where they broke the law.

    continues at length

  10. Daniel S says:

    Nearly all accounting is a fraud. It defines a narrow range of economic activities through the isolated personification of a business in a perverse misrepresentation of reality. As if any business is ever isolated. Extracting $1 in net profit from the plunder of $50 in natural wealth, simply shows up as $1 in net profit, the $50 in destruction being left off book on nature’s balance sheet.

    It is no wonder that such a system based on fraud, degenerates into fraud amongst it’s peers, especially when the wealth of it’s initial big fish (the natural world) starts weakening significantly.

  11. mike king says:

    This is a message I emailed to all in reference to the Bangkok article…..I reside here in Thailand.

    Make sure you read all of this. I have been in this mall countless times. The author is accurate in all his statements but he is still mentioning only a small portion of what truly is going on.
    This global economic collapse is an agenda. It is deliberate. It is being done by a conglomerate that has superceded the power of all governments with the United States as an employee.
    I have come across information that I find reliable which makes the statement that in two !! years, the USA will be unrecognizable and that within two !! years the American people will be so poor that they will be unable to rebel. Americans are currently mildly unsettled with much business as usual with most. They are not preparing for what is coming. The conglomerate WANTS to has been preparing for decades to break and ruin the United States and the US elite government is “employed” by them to do so. Obama is a complete puppet and employee of the conglomerate without question or debate.
    This is agenda for global crisis. It is deliberate and it is wanted. There is only one (virtually impossible) solution for citizens of the globe…… by – pass the currencies set forth by the bankers both now and in the future and form a trade barter system by all the citizens.
    Almost all 1st world governments are in alliance with the banking conglomerate and refuse to print their own money for the benefit of their partner in crime… the conglomerate. The citizens ONLY hope is to bypass these criminals currencies of debt control that the conglomerate and partnership elite governmental powers have devised through their fractional reserve debt system. This solution is virtually impossible… yes……..but it is the only way…. there are no alternatives.
    Bangkok Now, Who’s Next?

  12. eric blair says:

    I do love the tongue in cheek bell noise when Max forgets “rttv.ru”
    Stacy and Max are really finding their groove with the TV end these days…
    Max wearing his “trader look” suits is the visual bomb….
    I wanna see Max in red braces the day gold hits 1500 …givin’ it the full Gorden Gekko!

  13. eric blair says:

    ….even better GOLD BRACES!

    Great work guys.

  14. Daniel S says:

    @ Mr Grinch, a confession in China is as relevant as one during the Inquisition or from Abu Ghraib. It’s only a matter of time until it comes out that people were targeted specifically for one or more of their organs by China’s “justice” system.

  15. Roy says:

    The LIE has become not just A moral category
    But a pillar of the Government
    Alexandr Solzhenitsyn

  16. Leonard Beeson says:

    John’s argument on the 1 to 1 currency is sensible. Although it straps the economy with inefficiencies, it strongly reduces the opportunities of fraud through its “multiplying effect” of fractional reserve. As long as a means of exchange remains necessary due to our economic systems, the dilemma will be choosing between tight liquidity or fraud surplus.
    Regarding lies, the reason people and now even children make excellent citizens, is because we live in a society that rewards fraud and deception. There is no negative reinforcement towards lying in modern cultures; au contraire, the more you lie, the better you´ll do socially, economically and politically.
    After we get Wall Street reforms approved, we need to reform the carrot and the stick for ordinary people… /end sarcasm.

  17. Economics Novice says:

    In terms of resorting back to the gold standerd who does that effect countries such as South Africa(where Im orginally from) who mine a lot of gold ie: would it be based on how much countries have in there vaults or does mining and production come into it.Imjust a novice and may not know anything !!!

  18. Economics Novice says:

    *How does that effect …..

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