[1142] The Truth About Markets London – 26 June 2010

For more download & listening options, visit Archive dot org

194 comments on “[1142] The Truth About Markets London – 26 June 2010
  1. frances snoot says:

    Here’y’all go, MizzStacy. Ma found thisn’hair link a-pushin’ the buttons on this’n hair keyboard. IT DO WORK WAHL. OH, DANG-NABBIT.


  2. Youri Carma says:


    I hear this story since 2008

    Comex Gold and Silver Markets Hurtling Towards Default 30 October 2008 http://www.marketoracle.co.uk/Article7059.html

    yet nobody seems to take physical delivery, why Not? It’s far better to have real gold in possession now. That tells me there’s something wrong in the state of Denmark.

  3. frances snoot says:

    That air chicoree-coffee do go down wahl with some grits and side meat. I do mean, y’all gotta have some.

  4. frances snoot says:

    Ahh, RonRon. I China-Man. I have coins but not to share with you. They are silva. Much silva for pay my way out of workee-in-laundree. Ha Ha!

  5. Metoo says:

    either Max was really tired or watching a film on his laptop whilst recording the show or he really was off his tits on something as the slurring and the prodding by Stacey was very prominent so half way through I had to stop listening

    when is the tsunami coming as all everyone is going on about is when it might happen , I kind of wish the storm would happen now or else blow out so we can hook up to the matrix again 🙂

  6. ronron says:

    wonder if stacy will be mad when i put the max guitar on ebay?

  7. frances snoot says:


    Cleetus be the one who looks like a coon hit tween the eyes with an ugly stick.

  8. Tony says:

    yet nobody seems to take physical delivery, why Not?

    If no one was taking delivery the price would still be sub $1000. When the price gets too low buyers have pounced, so its allowed to rise to a point where the COMEX & LBM can continue to make deliveries. Thus $1250 gold and rising. They can’t manipulate the price if they run out of physical, so they have to grudgingly give in to the buyers on occasion.

    But make no mistake, the is COMPLETELY managed. There is no such thing as free in the Gold market. At least not yet.

  9. Ray in Vancouver says:

    @Tony; China

    They can pay the Chinese workers more, but it may not send inflation to the U.S.A. Americans can’t afford to buy, so yes they can increase the prices, but fewer and fewer can afford to buy anything. 40,000,000 are getting food stamps, (22% higher than a year ago) unlikely buyers of big screen TV’s when they can’t even feed themselves.

    The trend to quantitative easing is switching over to cut backs and higher taxes. Not happening in the USA quite yet, but Europe and the U.K are already doing it. Will it force Obamas hand? Will he have to mimic the other countries or will his currency turn into a bigger pile of poop?

    All of this is hardly conducive to higher spending on junk that lasts a year coming from China.

    China better get its internal market stronger, hell they have the population and they certainly have the cash. They don’t need America, except as a food source. The USA is becoming a minor market compared to the potential buyers in China and India. Thank you Wall Street for screwing up the Western world, did you notice those unproductive bastards got he quantitative easing first?

    The Romanoff’s, clueless, the aristocracy of France, clueless, the final Roman emperors clueless, Hitler, clueless, the current crop of fascists, clueless. They screw up by pumping money into corrupted banks and then raise fees and taxes, yeah that will work, they can always be trusted to do exactly the wrong thing. It may be a natural cycle, we live in interesting times.

    Max and Stacy the show was a little wonky at the beginning maybe you are taking too much on?

  10. Tony says:


    You might want to also look up how the physical market dried up during the price crash of 2008. They nearly did blow it up. While Mish was calling for $400 gold, sane people were buying with both hands.

    Since then they’ve managed it, which is the best they’ve been able to accomplish.

  11. ronron says:

    @Snoot. if you get time, load up, up the yangtze. nice vid.

  12. Tony says:


    Well, there’s nothing like doubling your worker’s wages with a rising currency to build your internal markets. (And encouraging them to buy gold)

    The US & Canada will have no choice but to pay the higher prices (when possible) until they begin to make ‘things’ again.

  13. Youri Carma says:

    Most participants do not take delivery from futures contracts. Rather they tend to roll positions they want to hold into farther forward contracts.

    From: CME to change Comex gold, silver settlement procedure (Gata) February 22, 2010 http://www.gata.org/node/8387

  14. Youri Carma says:

    Adrian Douglas: Is discovering the gold fraud worse than the fraud itself? http://www.gata.org/node/8769

  15. Tony says:


    Yes, but that’s also a function of price and with it, perceived stability. Drop the price to $400, and a whole lot of those contracts will not roll over. Certainly not in this economic enviroment. Serious investors will grab those bars while the gettin’s good.

  16. Youri Carma says:

    Can’t believe this.

    Here’s a guy Adrian Douglas who is publisher of the Market Force Analysis letter. Still he tought that Quote: “While some of the wilder theories are almost certainly wide of the mark, suggesting that the banks are trading far more gold than they hold title to …”

    Here you have me publishing no letter at all and I know for a fact that Central banks do this cause they say so themselves. Rickards said righfully so, I paraphrase: ” “For us it’s gold mainpulation but for the central bankers it’s simply policy” btw I have said this long before Rickards.

    Nout Wellink always said to his colleagues “there are two things a central bank can lie about – gold and interest rates”

    Still I here people in the financial circuit, who take themselves very serieusly, say: ” I don’t believe gold is being manipulated”. My mother always said ” You believe when you’re in a Church but here we check our facts for real”

  17. Youri Carma says:

    Greenspan in 1998, before Congress: ‘central banks stand ready to lease gold in increasing quantities, should its price rise’. http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm

    William S. White June stipulated in 2005 ( head of the Monetary and Economic Department of the Bank of International Settlements in Basel ):

    ‘one of the five main purposes of central bank cooperation is the provision of international credits and joint efforts to influence asset prices

    – especially gold and foreign exchange – in circumstances where this might be thoughtful’.

    Australian Central Bank 2003: ‘foreign currency reserves and gold are held primarily to support intervention in the foreign exchange markets’!

  18. Youri Carma says:

    Crisis In Romania: Constitutional Court Votes Pension Cuts Unconstitutional, IMF Loan In Jeopardy, Presidential Palace Stormed, CDS Blows Out http://www.zerohedge.com/article/crisis-romania-constitutional-court-votes-pension-cuts-unconstitutional-imf-loan-jeopardy-pr

  19. Tony says:

    RE: Farrell story

    Good stuff, but I noticed one glaring error by the reviewed book’s author. He states that free market capitalism is destroying the world. (in essence) But it’s not free market capitalism it’s corporatism that endagers the planet. Corporations shield their owners from personal responsibility for their actions, remove the shield and capitalism make a major change for the better overnight.

    Think Tony Hayward would deep water drill in the Gulf if he risked his personal fortune and freedom in the process? Not unless he was DAMN sure nothing would go wrong.

  20. Mep says:

    @ Tony – It’s not just iphone 4 users who are gonna get crushed with fees . . . eventually, it’s gonna be all Apple smartphone users. (And iPad users.) My husband chatted with an AT&T helpdesk guy a few nights ago on IM. They are going to subject all of their customers to the new fees and plans. If you go a gig over, it’s gonna cost an additional $10. And just about everything counts as data, so it’ll be easy to go a few gigs over. The iphone4 has two cameras, right? So people can actually do video chats? I’m sure that new feature will help jack up a bunch of fees for all of that data transfer. I’ll be ditching my phone as soon as our contract is up. It’s ridiculous to me that you can’t even purchase a new battery for these freaking phones and change them yourself. Used to be that you’d have to send them off to corporate headquarters to be replaced, but they don’t even do that anymore . . . they make you get a new freaking phone and just transfer all of the data from your smartcard over to the new phone. IMO, if you can’t open it, you don’t own it.

  21. Tony says:


    Ouch, I didn’t even know about the battery thing. I was just glad to be able to get the unlimited data still with the Evo. It doesn’t look like anyone will be offering that for much longer. –Especially since the kids all just hack the phones for free tethering.

    I think the phone companies are worried that people will just dump their home services altogether as speeds increase.

  22. Gordo says:

    Things heat up in Toronto

    Commentator “Mindless bandits” etc. etc


  23. Bonn says:

    E = MCC or MCsquared Prrove it Practically ????
    WTF lets tell the masses
    ” But the amount of energy in 30 grams of hydrogen atoms is equivalent to burning hundreds of thousands of gallons of gasoline!”
    How many Fukin hundreds of thousand ?????
    Light travels in WAVES see how it fits tis formula
    no no Light travels in packets see how it fits tis formula
    All freakin Bullshit
    Hic 😉

  24. Bonn says:

    Gold seems to be gettin a strangle hold of Each 10 bucks it rises
    Its like a freakin Mountain climber Mike must be footloosin
    Hic 😉

  25. Bonn says:

    PPT is gonna werk hard on Moneyday suppressin ta gold

  26. Youri Carma says:

    This reminds me of a Jewish lady who did a survey on what was the most anti semitic country just before WOII?

    Surprisingly it was not Germany but France!

    Helen Thomas was right!

    Helen Thomas tells Jews to go back to Germany

  27. Youri Carma says:

    Newest trend Vuvuzela Boozing! http://www.youtube.com/watch?v=dfZK5-gWK88

    These things prove it’s usefulness after all 🙂

  28. Wahrheit says:

    Gang members and neo-Nazis targeted by US Army for recruitment.


  29. Youri Carma says:

    Jobless benefits to end for 200,000 weekly http://www.bizjournals.com/sacramento/stories/2010/06/21/daily55.html

  30. dan valley says:

    How to Win the Revolution Peacefully? Make it a Laughing Matter!


  31. Youri Carma says:

    This is what happens if Germany plays against the Netherlands in Soccer – Völler Rijkaard WM 1990 Originalkommentar! http://www.youtube.com/watch?v=mxiyDiEMDw0

    Yeah, Eveything was better in the past. This one and “The Hand of God” from the little crook Mardonna are Epic. Ja, Ja Früher war alles besser 🙂 Diese und “Hand Gottes” von der kleine Gauner Maradona sind Epic.

    Maradonna seems finaly grown up now. He’s so tranquil now as coach.
    Maradona ziemlich erwachsen endlich als Coach jetzt, ganz Ruhig.

    From a little Dutch friend. Von einer kleinen Niederländischen Freund.

  32. Youri Carma says:

    Maradona hand of god http://www.youtube.com/watch?v=DbbsytHDp2o

    Diego Maradona discusses ‘Hand of God’ World Cup goal – BBC http://www.youtube.com/watch?v=oB-q_v_gGvY

  33. pohdinpa says:

    I’ve got it! We must create a new wildlife death market where each species will be represented by a ticker symbol where anyone can bid up the worth of an individual of that species. Then the greenies can put their money where their mouths are and bid up the worth of a sea turtle or pelican. Then the evil corporations will then have to hedge their kill rate with shares of the species they’re decimating and buy these death shares on the open market. These shares would be limited to the population of each species on earth and would have to be retired as the shares are consumed by corporations who are killing the animals. Then as less shares are available the remaining shares become even more valuable causing the corporations to spend more and more for each individual killed. Brilliant, give me the Nobel for economics and ecology. Oops I forgot about the inevitable DDS (death default swaps) and naked shorting of the death market.
    Never mind

  34. Mep says:

    Sunday vid. club: Change Myself. 😉

  35. Youri Carma says:


    My approach would be much easier to understand:

    Just throw them in jail and take their money.

  36. Youri Carma says:

    Criminologist and drug researcher Ton Nabben of the University of Amsterdam: “Zero Tolerance” policy on drugs has failed (google trans from Dutch) http://tinyurl.com/2g9eupc

  37. Mep says:

    You Can’t Eat a Collateralized Debt Obligation. Some good socialist analysis on austerity measures and the assault on middle class standards of living.

  38. Norcalgrl says:

    Hmmmm, I wonder if I’m understanding this right, that the US banks will no longer be able to manipulate gold and silver??? Too good to be true!

    “On proprietary trading, however, the bill gets tough on banks, said Ernest T. Patrikis, a partner at White & Case, by limiting their bets to United States Treasuries, government agency obligations and municipal issues. “Foreign exchange and gold and silver are out,” he said. “This is good for foreign banks if it applies to U.S. banks globally.””

    from Gretchen Morgenson – http://www.nytimes.com/2010/06/27/business/27gret.html?ref=fair_game

  39. Youri Carma says:

    Disturbing Footage! The US Army Doesn’t Want You To See THIS! http://www.youtube.com/watch?v=LYzJLzTZduk

  40. Youri Carma says:

    *ALERT! While you watch the Oil Spill: Senate gives Soetoro Internet Kill Switch http://www.executivegov.com/2010/06/dhs-proposes-cybersecurity-bill-to-grant-president-emergency-powers/

  41. zaphodity says:

    You two get on the turps last night or something ? Sounds like the Sunday morning A.A. meeting.

  42. zaphodity says:

    ….Americans don’t get drunk, we get JETLAG !

  43. Superfly says:

    There’s only one SupaFly sucka!

    btw, was Max loaded during that show?

  44. California Doctor says:

    For F.Snott-

    All your bases is belong to us.

  45. Rick McCartie says:

    Alex sounds drunk

  46. Rick McCartie says:

    Max sounds drunk

  47. Youri Carma says:

    Webster Tarpley’s World Crisis Radio: http://tarpley.net/world-crisis-radio/ can download June 26, 2010 MP3 from page

  48. MirrorMirror says:

    @Youri … Disturbing Footage! The US Army Doesn’t Want You To See THIS!


    Yes … it is highly disturbing … and informative .
    Looks more and more like the Star Wars “Evil Empire” every day.
    And to think that 5 people gave it a negative appraisal.

  49. California Doctor says:

    @NorCalKid –
    That posting is logical, but also old story for those who study wars.
    The wars are usually about those factors, but this time around the stakes are much higher than usual due to the population size and the moral issues involved.

    Somehow, i doubt that the people at the big banks really give a rats ass about the peons and peasants who are stuck in the rat race. To their pathological mind, we are mere cells in their global spreadsheet.

  50. Youri Carma says:


    The Americans I ever met were all very very tired. Once I tought have found a fit one but he turned out to be Canadian. LOL

  51. Mep says:

    I attempted to get a little drunk; it didn’t work out. Just a little buzzed and tired. Bummer.

    Have y’all heard about the undocumented farm workers in the US offering to train unemployed US citizens to take their jobs? I think it’s hilarious, and is a great way to try to make the debate about immigration reform and jobs a more honest one.

    Here’s their website: http://www.takeourjobs.org/

  52. Mother Earth says:

    TILT, British Petroleum spill causes health problems like food intolerance that ‘Stay with them’ http://www.youtube.com/watch?v=Q4bDW12Fr78

  53. Mep says:

    @ CalDoc – Hence, quoting from the socialist propaganda I linked to earlier:

    Finally, plausible but superficial explanations of the crisis also serve ruling class interests by concealing how capitalist exploitation necessarily leads to economic breakdowns like that of 2007-2009, when the capitalist system cannot even maintain working class living standards. As the Communist Manifesto put it, the ruling class “is unfit to rule” because it cannot even guarantee the survival of the wage slaves it exploits.

    Profits are only restored through a crisis when large numbers of people are thrown out of work as production is “rationalized,” productive resources lie idle, and working class living standards are slashed by employers and governments.

    You can’t even let cells on a spreadsheet wither to death and hope to keep squeezing more blood/energy/production/money from them, can ya? Pathological is right . . . though I think sociopathical is more like it, since it’s a harsher definition of bat-shit-crazy.

  54. California Doctor says:

    Pathology includes both sociopathy and psychopathy.
    One is pathological towards society. The other is pathological towards another human being.
    In this case, these people are so greedy that they would willingly massacre their own family and children in favor of adding more money for themselves. This is why we as citizens should not sit by as the the “two-party” system continues to foist the banking hegemony.

  55. MirrorMirror says:

    Steven Seagal sets it straight on BP Oil Spill


    Good speech , from the film “On Deadly Ground” .

    Well worth listening … almost exact prediction with facts.

  56. Mother Earth says:


    A little drink is a dangerous thing..

  57. zaphodity says:

    Virtual Currency…..food stamps.

  58. California Doctor says:

    Our bodies function by way of our nutrition.
    Our nutrition is linked to the environment.
    Our environment gets polluted.
    Therefore, our bodies become polluted.
    Is there any doubt as to the existance of this disease?
    Only in the mind of a physician who is poorly trained, has no backbone to call it as he sees it, and has not one care for his patient or their family.

  59. Youri Carma says:

    Extreme Alert from Steve Quayle! http://www.stevequayle.com/index1.html

  60. zaphodity says:


    Stephen Segal takes on the evil BP CEO’s


  61. Youri Carma says:


    That Seagal makes a very good point you don’t hear mentioning a lot

    “plankton supplies 60% to 90% of the earths oxygen” even if it’s 50% it’s substantial!

    Source of Half Earth’s Oxygen Gets Little Credit http://news.nationalgeographic.com/news/2004/06/0607_040607_phytoplankton.html

  62. Youri Carma says:

    Marine phytoplankton supplies our ocean with 90% of the primary production and 50% of Earth’s oxygen http://www.marine-phytoplankton-works.com/

  63. zaphodity says:

    phytoplankton…..that’s what Vegemite is made out of.

  64. California Doctor says:

    @Youri – that phytoplankton will die under the situation that exists in the Gulf. A total ecosystem collapse is not being discussed by scientists who are largely funded by federal grants.

    The big zones of anoxic water are going to lead to algae blooms which will cause a kill of aquatic life in those plumes.

    More importantly, any larger fish that run through these zones will pick up the toxins. I am not interested in eating any fish from the Atlantic or Gulf Coast regions.

  65. zaphodity says:

    Well i’m currently unemployed living off the government tit. There are 2 primary ways in which i’m single handedly saving Australia’s economy by doing this.

    1. People who would otherwise be unemployed now have jobs filing and processing my fortnightly check, people who themselves would be unemployed or working in sheltered factories making paper clips.

    2. All the money I spend goes straight back into the economy when I buy aussie made smokes and beer, I am in fact a walking talking stimulus package.

  66. Tony says:

    There’s something fishy about this catastrophic oil spill. Where’s all the oil?

  67. Youri Carma says:


    Yeah, full employment is actually harmfull for an economy cause salaries will go up, every economical scientist will tell you that. You need a certain amount of unemployment to keep the salaries down.

  68. Youri Carma says:


    Good question.

    They use Corexit 9500 dispenser which makes the oil float just under the sea level. That’s why BP is using it while it’s toxic stuff, to hide it.

  69. MirrorMirror says:

    Karl Denninger –> fedup-original-edited.mp4



  70. zaphodity says:

    Every Tuesday I dine out on whatever I can mop up with a soaker sponge from the floor near used cooking oil bins behind McDonalds..Sometimes i’ll managed to fight free a half mangled pickle sandwhich from the army of stray dogs that congregate around the old peoples home during their crematorium runs on Sunday…I meek out a meger living near the airport…somewhere that smells like poo !

  71. MirrorMirror says:


    I wondered when there’ll be “Begging” websites on the Internet !
    Seems you may have started a new trend.

  72. zaphodity says:

    …Lol..Actually all things considered i’m quite financially stable to a certain degree. I have no complaints.

  73. zaphodity says:

    …The smell of DEATH always attracts the “lesser animals”.

  74. MirrorMirror says:

    WARstreet Financed !

    Fall of Berlin: Stopping the Nazi heart

    The battle for Berlin lasted for two weeks. Three and a half million troops from both sides, Soviet and German, took part in the fight. Some ten thousand tanks, thousands of artillery, and eleven thousand aircraft were involved in the fight. There was no other operation of that scale in World War II, and it was won by the Russians. The Red Flag was risen atop of the Reichstag in May, 1945, and it became the symbol of victory over fascism.


  75. zaphodity says:

    Lesser animals being rats, vultures, sharks…The Donner Party…Puritans with REALLY shitty table manners….”Table of 5 for The Donner Party” !

  76. zaphodity says:

    …Make a great celebrity chef reality show I spose.

    Laters YOW-L

  77. Tony says:

    Hmmm… Corexit 9500. Does anybody have any hands on experience with this stuff?

  78. Tony says:

    Oh well, “Doctor Who: The Stones of Blood” Part 1


    I’ve got to get back to it.

  79. Dedo says:

    Cal Doc,….Re: Psychopath v Sociopath

    My understanding, was/is, that a psychopath is born with the disorder to the psyche,…the latter, being the nurtured disorder ? ! ,..i.e,..learned behavior.
    Refer to “Political Ponerology” , by Andrew M. Lobaczewski

  80. Youri Carma says:

    Open Racism

    Yeah, he’s right, hidd’n racism is even more dangerous.

    If it’s open it’s not good but at least you know what they’re thinking and maybe give some relief to get normal.

  81. Youri Carma says:


    “lesser animals”

    Banksters cause they sell your body before and after your dead and sell you coffin just before.

  82. Gordo says:

    Maintain the purchasing power of the money you stole!!

    That sums up the push for austerity very well.

  83. Ted K says:

    I don’t care if Max has a hangover, actually that’s cool, just have him drink the hair of the dog that bit him about 10 minutes before the show. He’ll feel better and the show will go better. SupaFly is acceptable (Although “Sorrow” by Pink Floyd would have been better), but better not let Max DJ. Also we need to know if Mini-Max comes with a bow tie.

  84. johnseattle says:

    What do Trlateral commission, Bilderberg Group, Rockefeilers have in common? http://www.youtube.com/watch?v=LtmMHlWvHEw

  85. gussy says:

    Great show, very funny and informative. TOB USA why no posts.

    Austerity, I’d wish they fuck off with their austerity, where’s there austerity, cunts.

    And what’d we do without the rule of 72, a right little nugget.

    America a soulless place, unfortunately yes, but it is only a mircrocosm of the truth.

Watch the latest Keiser Reports:

Buy Gold Online
Buy Gold Online