We interview Mike ‘Mish’ Shedlock.
Mish Shedlock:- 06:10, …Greece, a $40 Bn problem>>>to a $300Bn problem>>>QUI BONO?
The exploiters are really not about to capitulate to ethical discussions of fair play. Absolute free internet (not what we have now) would inform the people what is really going on, and that in turn is strong and stable. Lies are unstable…obviously.
Great show (again) Max. I like listening to the Mish, I agree a lot about what he says, but I’m not 100% in agreement with him. China tanking, and forcing labor and pensioners to take the hit is the other are my main areas of disagreement.
Mish understands it’s about carbon/credit. He gets that Spain is fucked, its one of the first victims. He runs with central bank authority that ensures war is made impractical. Trichet tells us “There is a new economic reality we all need to adjust to, it’s calle austerity”. It’s of course not austerity we are adusting to but peak oil. Mish can easily predict a currency crisis, but it won’t be a crisis unless people believe there’s recourse in gold silver or hides.
So this representation is just an elaborate blindfold.
hahahaha….. i KNEW i recognized that voice …. Mish sounds like Emo Philips
Mish is a smart guy so I am confused that he does not support Steve Keen’s universal bailout plan.
Also, Mish claims to be against FRL (fractional reserve lending) but has spent little (no?) time on his blog even outlining how it might be abolished. Instead, he attacks unions and their pensions.
And Mish embarrassed himself with those gold = money statements.
It is debatable that gold could even survive in a true free market of private money creation though some would try. Of course, if gold is required for taxes then it will be money but so would anything else be.
Spain Ramps Up Diplomatic Pressure On Argentina On YPF
MADRID – Spain moved Friday to exert diplomatic pressure on Argentina amid continued uncertainty over the Latin American nation’s plans for the local unit of Repsol YPF SA, Spain’s flagship oil company.
Reports in recent weeks have suggested that the Argentine government is considering some kind of state intervention in YPF SA (YPF), the former national oil and gas company in which Repsol has a controlling stake.
Spain has been raising the tenor of its communications regarding the YPF matter in recent days. Were Argentina to forcefully injure Spanish business interests, it will prompt some kind of response, Energy Minister Jose Manuel Soria indicated prior to Kirchner’s speech Thursday. Any hostile gestures toward Spanish companies will also be considered “hostility toward Spain and the government of Spain,” he said, adding that such actions would have “consequences.”
The Argentine central and provincial governments in recent months have unleashed an intense push to prod the company to invest more in exploration and production.
Kirchner blames years of declining oil and gas output on companies that she says haven’t invested enough. But critics say price caps and government intervention have discouraged investment.
Dwindling domestic gas supplies, coupled with high demand, have forced Argentina to import growing volumes of more expensive gas from Bolivia and Trinidad and Tobago. Those imports have started to take a growing bite out of the trade surplus, which is a key source of the U.S. dollars that the government uses to pay its creditors.
Last year, Argentina imported $9.4 billion in fuel, natural gas and refined products.
Some analysts raised concerns about YPF’s commitment to Santa Cruz.
It “may set an important precedent in its position with the Argentine authorities,” Peter Hutton, an analyst with RBC Capital Markets, said in a research note. It also “raises serious questions over the funding of [capital expenditures] if replicated elsewhere,” he said.
@Beardo. what about the shirts?
I did not notice the shirts this time.
Work Reforms? That’d be working 60 hour a week for fuck all?
Bugger off Mish.
Saturday Night Sounds (and nice street trials)
Danny Macaskill – Industrial Revolutions
Its amazing how nobody speaks English in England and more except on the BBC and in protected enclaves.
Mish is very sane.
Nobody likes the idea of working for less but one way or another that’s what will happen during deflation.
@mother earth – spot on re peak oil.
@beard – gold restrains government.
Continue to remove all your support away from the corrupt Walls London Bank/Insurance/Energy Thieves!
The popular image is of Johnny Appleseed spreading apple seeds randomly, everywhere he went. In fact, he planted nurseries rather than orchards, built fences around them to protect them from livestock, left the nurseries in the care of a neighbor who sold trees on shares, and returned every year or two to tend the nursery. Though apples grown from seed are rarely sweet or tasty, Apple orchards with sour apples were popular among the settlers because apples were mainly used for producing hard cider and apple jack. more…
Living a subsistence lifestyle encourages independence and ability to survive
Can one of the smart folks in Keiserville explain: (please)
Why has Eric Sprott with his huge silver etf, been unable to force the price of silver higher in the market?
@happy sprott’s fund is backed with fizz, yeah? In which case it is still small relative to the paper trades. Remember reading after one of the recent big smashes that the volume of paper silver traded in a very short period of time was greater than a years global silver output. The paper metals is another of those markets that will, at some point, fall over. My 2 – not an expert by any means….
That’d be working 60 hour a week for fuck all? Chundernuts
That’s the logic of an elastic money supply – wages must shrink if the money supply or velocity of money shrinks.
Mish admits that an elastic money supply is immoral but he buys the Austrian crap that deflation must not be resisted.
His friend Steve Keen has the solution (a universal bailout) but so far Mish has kept mum about it.
– gold restrains government. bleep
That’s a stupid and fascist way to do that.
The proper way is to limit government money to being legal tender for government debts only.
But before we do that, we should use brand new full legal tender fiat to pay off the national debt as it comes due and to bailout the entire population, including non-debtors, till all private “credit” is paid off.
Happy Dick | April 14, 2012 at 11:41 pm |
Can one of the smart folks in Keiserville explain: (please)
Why has Eric Sprott with his huge silver etf, been unable to force the price of silver higher in the market?
Not enough people demanding physical from the criminal paper-shufflers? Your guess is as good as mine, but I think that’s it.
Reverend BIlly and The Exorcism of Blythe Masters with Max Keiser
Extra liquidity doesn’t cure a solvability disease, only if it fills a temporary gap of cash it might, depending on what costs vs. income looks like longer term.
Otherwise it merely inflates balance sheets (i.e. more debt in the end) without helping on the income statement. Accounting 101.
Even I with my small business understands that. In fact if the liquidity just sits there it makes things worse. So it gets shoved into losing equities and losing bonds in order to merely have it “do something”.
And of course once it enters the equities markets and such it ultimately enters the real economy (after a while) and it equals price inflation.
Am I so stupid or is it really that simple? So the answer is bankruptcies, but instead they’re scraping assets from the debtors. Thieves doing what they’ve done all along… steal. Like the scorpion and turtle parable.
Fed PAYING Banks To Withhold Loans From Citizens http://amrpt.tv/video/Fed-PAYING-Banks-To-Withhold-Lo;State-Of-The-Union
Congressman Dennis J. Kucinich tells is like it is – The Fed is stealing our money, and rewarding banks when they withhold loans to the public.
DEFLATION STARTED 01/16/09
If there were free and sane sovereign states left they would LOWER taxes, RAISE intrest rates, and RAISE minimum wages (esp. if a big enough chunk of production is for its own market that can be done). But that’s against the illogical nomenklatura… that’s why I believe that Germany will be the one to axe the EUR but they will do it much too late. Parhaps Spain will, by leaving, that would be a blessing!
The EMU did well without a fiscal unity (= end of sovereignity). They can go back to that. Not that it solves everything but they can. Easily.
There cannot be a massive change in our system just because someone thinks its a good idea. It must come out of a crisis.
The move to a one world government/currency can only come in the place of a collapse in the current system.
After this collapse has taken place you will be begging for world govt and currency to save you from all the consequences of what Mish is talking about.
Slow down Mishy, breathe through your nose and lay back and enjoy the ride of destruction and rebuilding.
It is all part of the cycle of things.
Front running The Keisermeister
Mish” reserve currency is a curse”
Realy? Don’t think so ….. it’s a benefit. Ask Dr. Paul Craig Roberts who will tell you it has big advanteges. The benefits of reserve diversification are strong, as it insures against large capital losses. It also permits the government issuing the currency to borrow money at a better rate, as there will always be a larger market for that currency than others.
@Youri: Of course. You’re 100% right.
Mish doesn’t want to see it but if the USD were not the de facto (read: through the barrel of big fat guns) reserve currency, the US banking system would have tanked in 2008 and we would not be talking about a “Euro crisis” today.
I always say that one USD is defined by a certain amount of crude oil. That’s the definition and worth of one USD.
Fitch:Commercial real estate CDO delinquencies up, reflecting a continued decline in total collateral
And a decline in total collateral=deflation
Yup, ultimately it means real lasting stuff (assets) is worth less, in terms of inflated fiat, while stackable goods’ prices (commodities) are worth more not by coincidence but by Archimedes’ law.
That’s why inflation and deflation should always be seen in monetary terms. “Price inflation” is just that, higher prices. They’re at the end of a string of events, not at the beginning. In fact if you have (monetary) deflation of assets by essentially money debasement, you’re going to have price inflation in those goods and services one can’t do without almost instantaneously.
The domino effect of which is historically called hyperinflation. Euphemism for transfer of wealth if you like.
Mish has many usfull insides but is frightfully wrong on many other issues. Mish is a naive Neo-Liberalistic thinker who realy thinks that lowering wages and plundering pension funds without taxes will help.
In fact these people worked for those pensions whole their life but that doesn’t seem to bother Mish.
The power behind the US is the same power that will be behind the new system.
They show that they already achieve this with the IMF, BIS, UN, G7, G8, G20, whatever.
All they do with these institutions is deflect responsibility onto a ‘group of nations’ so they don’t take all the heat.
UN sanctions are US sanctions, etc.
Maybe the US becomes less powerful as a nation, a name, a representative of world power, but the same bitchez will be running the show after this happens.
That was funny.
I think it missed the “there she is behind you” line from the classic pantomime, but very entertaining all the same
Hmm let me clarify that:
I think that if it happens real quickly it’s called hyperinflation.
If it happens over decades by pumping up the Keynesian balloon over and over (hello Japan) it’s called stagflation.
The end result is the same, transfer of wealth AKA robbing the commons.
So many Mish’s, so little time
I hope his insights are useful, don’t care all that much about his insides hehehe
I think that higher prices in commodities is partly trough speculation and partly trough dollar decline.
How Goldman Sachs Hikes Our Food and Oil Prices At Will
Speculators like Blyth Masters know, what I’ve been saying for many years, that the endgame will be in commodities, so Masters with Morgan is positioning acordingly.
Old news, but people won’t admit it.
Yes of course there’s major manipulation as well in the comm trade, and as much as I dislike the gold and silver rigging, the food and energy rigging is much worse because they translate into stackable goods immediately.
That’s how our lovely Blyth steals from us all. But the price hikes do have a monetary source in the first place I think. Blythy mostly does profit maximalising and I have to admit she does it well. Then again if you’re credited with making up CDS’s….. Of course there have been many foor soldiers in politics and lobbying who made it legal. Glass-Steagul (sp?) repeal under Clinton started it all.
Max Keiser: Food prices are not driven by increased demand, but increased supply (of leverage) , 31 January 2011, by Max Keiser (maxkeiser.com) http://maxkeiser.com/2011/01/31/food-prices-are-not-driven-by-increased-demand-but-increased-supply-of-leverage/
And yes, I fully agree, that’s where the end game is. Thanks for your insights BTW.
Hah and which “branch” of economics was always looking solely at supply not at demand.. oh why, that must be Sir Maynard and his crew…
And round becomes the circle.
If you mean with monetary ‘source’ cheap money for banksters to use in easy speculating I agree.
Yup. The cash has to go somewhere and it will go (in a bad equities market) to commodities where it’s easy to squeeze the buyers because they NEED the stuff (oil, food, …)
Great thread, thanks! Bless you.
What Blyth mostly does is profit maximalising by racketeering to plunge markets, insider trading and frontrunning. Yeah, she does that very well.
That’s IMHO the whole thinking behind the SLA as well. Someone’s going to NEED the stuff (tiny amounts perhaps camn you say APPL) and they’ll buy it regardless. And that’s when physical stacking is going to pay off.
Not that I disregard the gold story, not at all, it’s the sane and logical one from a distance. But if you want to hurt them, taking silver way from the direct trade is one of the very few ways to leverage (y)ourself and (y)our ideas. IMHO.
Talkin about Morgan. Morgan latest ‘profit’ was by accounting tricks.
‘J.P. Morgan’s quarterly profit got a $1.8 billion boost because the bank reduced its overall reserve, the money set aside for potential future losses from delinquent loans.’ http://www.marketwatch.com/story/jp-morgan-profit-falls-31-on-expenses-charges-2012-04-13
Yeah, they’re roasting. Toasting. Not only did they inherit MS’ silver shorts (and made them bigger I tend to think), they also have a shitload of derivatives nobody wants. They probably overplayed their cards. Now would it be a coincidence that JPM has the numbers while GS has the insiders (as in: running governments)? I don’t think so.
This was always a game between (pardon my politically incorrectness) the Joos and the Rockefellers and guess who’s being set up to lose. Yup
At least that’s MHO.
If they hadn’t overplayed their cards why would they have gone into MF Global’s seggregated accounts. I’m not a bankster (duh!) but I understand that much, you only do that if there’s no other way. Goldman tends to stay out of such extremes. They merely “advise” AND BECOME YOUR FREAKIN GOVT!!!
Know your enemy! Perhaps we should even feel sorry for good ol Jamie D. Nah!
Yeah, silver is the self-leveraged way to go I fully agree.
Snuggle Levarage http://www.youtube.com/watch?v=maC9bw3oRds
Yeah, Morgan has a 76 Trillion derivatives position http://news.goldseek.com/GoldSeek/1334155500.php
The need to be conscious of the way we take things in [the last mile].
Blame it on the rich, blame it on the poor; the monetary religion, is nothing more than a tedious artificial, agenda of blame. A divisive, hinderance that has nothing to do with life.
An on going alternate, environment … Autonomous Statelessness … Knows nothing of rich or poor It is the absence of a recognized link between an individual and any monetized, artificial, state. … your right to ownership in common is acknowledged. It knows nothing of the 1% or the 99%, nothing of rich or poor The ultimate portal to natures’ information, a pre-existent and inherent, unity of nature.
We straddle 2 systems / one has your back; it is the source of life.
The other is a design that has always proved to be war mongering and wanting … it could give a rat’s ass and is beyond our limitations, since we cannot deal with an environment of misinformation.
Why The Market Is Slowly Dying – HFT
‘… none other than Morgan Stanley’s Quantitative and Derivative Strategies released a note which, with a three year delay, effectively predicts the end of capital markets in a world where every declining retail participation replaced by artificial high frequency trading churn, which never was and never will be a true liquidity provider on a long-term basis.’
HFT is a hole-plugger. It’s aimed at keeping liquidity not solvability.
It’s all a parasite model. If the host dies the parasite doesn’t know what to do so it just keeps holding the host on the heart-lung machine, the blood being fake money.
Hey Max, here’s an analogy for you! No charge
I’d like to finally say some more regarding evolutis ‘ last comment:
Yes we need to be(come) conscious. We really really need that. Of course conscious means different things to different people. The first thing we’d hopefully arrive at is getting rid of the blame. Stop blaming others, start looking in the mirror.
I think that as you call it “autonomous statelessness” sounds great but it won’t happen. At best it will be “tribal rule”. That sounds a lot less great, right? But it’s the same thing. And perhaps it is the best we can arrive at for a while during (or near the end) of the inevitable transaction we’re all going to face.
I’m not against a world order per se but if there were to become one it should be of the people for the people by the people. And then let’s hope it doesn’t become a 51% dictatorship. I don’t think it would. I think most people are sane enough to be able to link their own freedoms to another one’s and realize that if the other’s not free he himself is not free.
We’ll see. But there should be fairness. No one wants to see their neighbor ruined, but neither does anyone wants to be forced to pay for his funeral.
Fairness should be re-asserted and re-valued. Instead of the equality principle there should be a (similarly vague, I admit) fairness principle.
I’ve grown to believe that while it’s obvious that concentrating power and wealth doesn’t help the commons, I’m not at all convinced that the idea of collectivizing power and wealth would make ‘em do better. Certainly not once the bills are due and they will.
And because of these insight I come to the much more modest idea of fairness instead of equality, and I firmly believe that the notion of fairness could make us much more socially equal (but individually as batshit different as we want or need to be) then the notion of postulated equality (“socialism”) or inequality (“capitalism”) can ever make us. Let alone compared to the postulated We-Rule-U fascism/communism we have now.
Probably didn’t cover everything I had to say. Hope you find it interesting ideas anyhow. Love ya’ll.
Ugh I wrote transaction, meant transition
“In fact these people worked for those pensions whole their life but that doesn’t seem to bother Mish.”
It doesn’t bother him because it’s not his money.
I should have also added it even benefits him if they lose their money.
@ricin3000 … Thank you, I know you, like so many of us have some real heart, felt concerns. It may well be that u are correct … but let’s first a take another run @ it. The need to be “conscious of the way we take things in” is difficult, when “all we have ever known” and our wages, depend on us … not understanding.
“autonomous statelessness” is already here and always has been … it is the pre-existent. It does seem somewhat, reasonable that we just may be competing with other, very efficient life forms on our planet. [previous]
Long before ancient Babylon, the wheel and the now antiquated, monetary religion, a pre-existent and inherent, unity of nature was the PTB, [and still is] that delivered the pizza for, protozoa, ameoba, viral types, plants and the hairless ape.
No plastic carrots; no cash box! The unity was based on, autonomy, purpose, and mastery. Life form, limitations are always pivotal, on an environment that allows transfer of dependable, information to keep balance and functional integrity. … The pond could never be overwhelmed by the number of fisherman.
The system is user friendly.
You do not need to be very skilled to access this powerful, storehouse of goodies. You control the the level of inquiry; the interval and thus, the complexity. It is also nice to know that you can become very skilled, at accessing and making good use of the infinite supply cycle. Emotion and rational thought serve the individual and maintain a community of co-operation. Not a panacea, just a hell of a lot better.
Could it be that when we get in trouble, it is because we arbitrarily, restrict ourselves from the pre-existent, life source paradigm?
At any given moment we, we have an infinite number of choices.
Take the time to notice what is occurring in and from, the perspective of someone who is detached or alien …
“Probably didn’t cover everything I had to say.”[Yep] …. we need to encourage experimentation[failure and mastery Lol] amongst ourselves to bring about as many varying points of view as possible.
He took your Germany 4.0 and shoved it up your ass Max. He done it with a smile
Ive never seen somuch BS from you Max!! He said the world reserve currency is a hinderance to the USA, somthing the PTB doesnt want, and you took that like a bitch. Oh and let our last word be buy Gold!!!
Max Keiser the Economic Chameleon
@snoop diddy: Thanks for the link, great vid!
This guy is just caught up on ‘entitlements reform’: Pensions! Pensions! They’re the problem!
Mish shines some light on the “money merry-go-round”
But in explaining student debt link to obama care he still puts across the divide the public line that the PTB always use to distract, dilute and separate any dissent or focus on them. Mish says it is the students(young) bailing out the boomers(baby boomers, old).
This comparison is a bit like; a fire department setting light to your neighbours house then the fire department send firemen to take all your water to put it out. WHO is the problem? Your neighbour for have a burning house! OR the fire department.
Only an analogy to illustrate, firemen are valuable people to a society, and they have water canon that could be used on bankster. Remember all public workers pensions are going down the tubes to be rinsed and squeezed for the banksters.
There is an environment of abundance; an infinite passing parade of information and energy. Nature is far too busy to stand still for a life form that promotes taxation forms, artificial restrictions on cell division and the next interval of information transfer.
“There is an environment of abundance; an infinite passing parade of information and energy”
I couldn’t agree more… all we have to do is take a step back and open our eyes to
Love “On the Edge” but found this mildy depressing. The young, nor anyone, shouldn’t have to pay for healthcare insurance they don’t want or can’t afford. If people have to sell their house or incur a debt after receiving medical care, then those are the consequences. Basically it looks like most western citizens are being economically “set up to fail” and I admire the Chinese in this because they are 10x more disciplined – if not a bit more “cold”. There will probably be Riots – and wars – which is why the USA (& UK) are putting the psychological squeeze on China and war posturing. This is before the middle east, economic or ecological/environmental/
resources problems have even begun to be addressed…
@ Alf … enjoyed the link … thank you.
Not only our planet but our galaxy; things, we can only imagine, for us and future generations.
So @ all, you are so smart, so energetic, so motivated, with great heart.
How can i appeal to you folks to do something other than play the game of monopoly and analyze the rules and the cheating thats going on.
What can mother earth do for you, she gives you free will and hopes to receive love and gratitude in return.
Remember oil is water, and water is everything.
I want to give you something, its simple, its a start, to break the matrix of the illusion that it around you.
Understand that fuel injection is control, and if you have it your are controlled.
If you can do it, try it, discuss it amongst your learned friends.
joe cell save money on fuel with one wire
Do not be misdirected by the title or the videos that pop up from youtube next to it.
It is something that i want you to think about, how will it change your life, how will you adjust your mindset to service to others, instead of service to self.
For those with cars manufactured after 1983, you can do this:
JoeCell Action? Grounding Radiator.MP4
So whats happening, we are introducing static electricity into the engine, the water becomes a conductor, it energizes the motors, it hydro fractures the fuel to produce energy. The more that it does the less liquid is needed, to a point that the vapor droplets begin to fracture in a vaccum.
No LENRadiation to deal with, but be prepared to be to have your mind bent, lol.
I would ask you how many would purchase the cold fusion reactor to make there own energy?
Most will say what is my return on investment, costs, ect, carbon footprint, blah blah.
But will we ever see it, not without a license, which will not be available.
But cars, internal combustion engines, we all have or can afford, especially the older junkers that most poor people own.
Would you be willing to start there, think about it.
Think about the overhead that energy adds to all production, and if that was almost eliminated, what would the world be like?
Do not be a pump and dumper with your future, you have all the tangibles that you can acquire, now its time to use your freewill to make the future happen.
Stop being complicit and take a step.
This example presented is just a small example of what the Hull effect will do for you.
If you do not understand it, thats ok, if you dismiss it, thats ok, but what does your gut feeling tell you.
love and gratitude
@steveosilver … I enjoy the tune …u write the music … The foots starts tapping, a transfer …thanks
mish is a far right scum bag that wants austerity to pay for what the corporate whore have stolen and wants the usa to become mexico
what kind of fool would actually think it would be good for the us dollar to lose reserve currency status? maybe every country currently occupied by us troops but mish acts like it would be good for americans, HAAAAAAA, maybe if your trying to open a sweatshop
such a worthless ape
been dead wrong on the markets for the last 3 years as well
@steveosilver The links to Joe cells doesn’t explain anything. Fuel injection is control, so won’t work on a non-carburettor engine? But the comments from the vid poster says he did it to a diesel jetta? diesel are fuel injection?
None of the video makes sense. The guy said he increased his mileage 200k? Is that 200,oo0 MPG?????? Wow, one gallon will nearly get you to the moon??????????????????????