[KR295] Keiser Report: With Hugo Salinas Price

We discuss the tax-free living Christine Lagarde, an unelected official, waving the flag for French banks while harassing Greek citizens while Silvio Berlusconi’s ‘pleasure chest’ drives up the bunga bunga market. In the second half of the show Max talks to Hugo Salinas Price who appeals to Alexis Tsipras to propose bringing a silver standard to Greece.

Inquiring minds are watching an interview by Max Keiser with Hugo Salinas Price on a plan to back Greek currency with silver.

In the first half of the video below, Max discusses unelected bureaucrats “running a gulag casino state” for their own benefit, financial terrorism against Ireland, and the simple-but-true (yet seldom initiated) concept that “bad debt banks should go bankrupt”.

Max also blasts Christine Lagarde who herself pays no taxes yet harasses Greek citizens to pay theirs.

In the second half of the video, about 13 minutes in, Max interviews Hugo Salinas Price regarding silver.

Silver Backed Currency Details

It is difficult to fully express ideas in 13 minutes.

For a more detailed explanation of how Hugo’s idea on silver currency might work, please see Silver, liquid and illiquid, the ‘modified open mint’ and gold & silver as parallel monetary systems by Hugo Salinas Price.

Role of Gold in Trade

For a discussion of trade imbalances and the role of gold, please see Hugo Salinas Price and Michael Pettis on the Trade Imbalance Dilemma; Gold’s Honest Discipline Revisited

Additional Thoughts on Silver

I asked my friend Pater Tenebrarum at the Acting Man Austrian Blog for some comments on proposal to reintroduce silver coins as currency. Pater responded …

At first glance, giving the coins a higher monetary than bullion value might seem a bit strange, but right now we have money with no value at all except the legally determined face value.

With silver coins you’d at least have coinage that not only has a face value, but also a commodity value. Obviously if one wants the money to be used in payment, the silver in it must not be worth more than the face.

Hugo is correct that one can not have silver and gold currency at a fixed ratio. In principle, a dual monetary system with silver and gold, but no fixed relationship between them seems feasible to me.

Unfortunately, the proposal probably won’t fly because the government is not interested in making money honest. Just think about the size of the federal debt. It’s over $15 trillion and growing at over $1 trillion per year.

If this debt were to be redenominated in silver and/or gold, the government would be forced to stop spending. It won’t stop that until the market forces it to. So Hugo is right; it’s only going to happen once the current system crashes and burns.

That does not mean that his proposal wouldn’t be feasibly in principle – it certainly would be.

A crisis has not hit the US yet but what about Greece?

I received Pater’s response before Syriza, led by Alexis Tsipras caused a deadlock in the last Greek election.

Would a radical left party be open to a metal-backed currency?

The idea may seem far-fetched but there is certainly everything to gain and nothing to lose by trying.

Having sensible discussions is always beneficial if for no reason than to plant seeds of worthwhile ideas that may sprout at some unknown time in the future.

424 comments on “[KR295] Keiser Report: With Hugo Salinas Price
  1. kdt says:

    @apoc . yep once you have his back ground his ‘angle of spin” is right there to be seen , he is fbi/cia his ‘JOB’ is “muddieing the waters” with false leads to distract people from real isues. just as the guy at the link you posted stated! i would have loved to have seen the look on his face when the guy asked tarply what the deal was with his “phantom group” and there nebulous motives. when we HAD a bunch of dancing isrealies with no real story for wtf they were doing celibrating wile people were jumping to there deaths!

  2. Mattdog says:

    Just watched an incredible movie, “A Better Life”, about a fractured family trying to make it, (from Mexico). And it is my favorite movie at this point. Borders only serve the interests of the so-called elite. TEAR DOWN ALL BORDERS AROUND THE WORLD. NOW. It is the only way to destroy the “ptb” they maintain all power by the way of BORDERS. The illusion is gone. We can all live in this world together, we can help each other not just survive, but to thrive. TEAR DOWN THE BORDERS NOW. Tell, me, what really separates the people of the world from creating commerce among themselves? Ah, could it be— ? Live Now or …

  3. Mattdog says:

    ” cash will only be king for months now. watch yourself. the rest of you are on your own.” RR
    — I hope simple-minded folks like me and others here can get along and build a better future. ๐Ÿ™‚ hope your panhead is coming along nicely, I’ve got to bleed the brakes on my cz 650 before I motor around again. If it hasn’t been said before, ya’ll rock’ I hope I have a few friends here when all goes.. It goes without saying, any of you passsing throuhg in the Colorado high country, are more than welcome to crash at my pad. You can reach me here, I’ll know who you are, much love to ALL of you, Sincerely, Mattdog

  4. Youri Carma says:

    Faber On Europe’s Dilemma And China’s Hard Landing 06/04/2012 http://www.zerohedge.com/news/faber-europes-dilemma-and-chinas-hard-landing

  5. Vonda Bra says:

    @ kdt | @ Apocalypso

    thanks for the interesting research on WT… Iยดll check it out as soon as I wake up 2morrow/today … ? if only I could fall asleep ! ๐Ÿ˜‰

    that “Adam Kokesh debates WT”, link from LeadCondom, above, is a must see …
    Webster T. is definitely not a freedom fighter, thats pretty clear! ๐Ÿ˜‰

    Adam Kokesh did his best and pretty alright, while staying polite and respectful!

    Good night ? ๐Ÿ˜€
    see you all …. yawn!!!!!!!!!!!!!

  6. Vonda Bra says:

    night Mattdog! ๐Ÿ™‚

  7. foober says:

    I’ll give larourche the credit of knowing that the real enemy of the people is the european aristocrats and the vatican. The Roman control never really went away

  8. Youri Carma says:

    And Now, Courtesy of Bridgewater… It’s Italy’s Turn http://www.zerohedge.com/news/and-now-courtesy-bridgewater-its-italys-turn

    “The EFSF/ESM hybrid can not provide the cash needed for even half the combined funding needs of Italy and Spain.”

    “At negative โ‚ฌ48 billion in residual LTRO capital, Italy flat out has no additional cash with which to plug ongoing debt funding needs.”

    Earlier: Brussels… We Have A Problem – EFSF/ESM Won’t Close The Funding http://www.zerohedge.com/news/and-now-courtesy-bridgewater-its-italys-turn

  9. Majestic says:

    For anyone’s interest

    12-Year-Old Girl Explains What Most Economists Can’t About Money and Debt


  10. Youri Carma says:

    “China doesnโ€™t publish such figures.” In other words: in the first four months of 2012 Chinese purchases have increased by an unprecedented 782% over 2011.

    And this is only from Hong Kong! Said otherwise: “Is the PBOC, which officially has just 1,054 tons of the yellow metal, quietly and relentlessly stockpiling gold?” Oh, yeah!!!.”

  11. Youri Carma says:

    12-Year-Old Girl Explains What Most Economists Canโ€™t About Money and Debt

    Victoria Grant Speaks http://www.youtube.com/watch?v=Bx5Sc3vWefE

  12. Youri Carma says:

    And now the good news of the day: J.P. Morgan Chase down 2.4% ๐Ÿ™‚

  13. confused says:

    Because Silver has value, This is why Silver coinage WILL NEVER be introduced to the general public, Govts can’t afford to have independent wealthy votes.

  14. confused says:

    “Voters” duh

  15. MirrorMirror says:


    Lew Rockwell: The Government is A Gang of Thieves at Large!


    24.4.2012 / 40 mins.

  16. MirrorMirror says:


    Anyone who is surprised …. is still asleep :

    Hillary Clinton promises NATO membership to Georgia


    Russia says Georgia’s entry to NATO could lead to war



  17. Youri Carma says:

    @MirrorMirror – “Russia says Georgiaโ€™s entry to NATO could lead to war”

    So Saakashvili can eat his own tie again http://www.youtube.com/watch?v=dDFVQ-H7V-U ๐Ÿ™‚

    Georgia is an Israeli/US puppet state.

    * Maj. Gen. (res.) Yisrael Ziv, aged 61
    Military Background:
    Served as the commander of the Paratroopers Brigade’s elite reconnaissance unit during the first Lebanon War. He was the commander of the Paratroopers Brigade and the commander of the Gaza Division between 2000 and 2005.
    Current Employment: Mr. Ziv is the CEO of a security consulting firm.
    In Georgia: Mr. Ziv has been active in the past number of years exporting weaponry, mainly to South America. He served as a security consultant in Georgia, often in conjunction with others.

    * Roni Milo, aged 59
    A former MK, cabinet minister and mayor of Tel Aviv.
    Current Employment: Mr. Milo is a businessman.
    In Georgia: Mr. Milo has been working in Georgia with his brother Shlomo, a former IAF pilot and CEO of the Israel Military Industries. He served as a mediator for Elbit Systems and the military industries. Mr. Milo succeeded in promoting a number of relatively small business deals. He tried this past year to promote the sale of 200 Merkava tanks to Georgia, but the deal was prohibited by Israel.

    * Brig. Gen. (res.) Gal Hirsch, aged 44.
    Military Background:
    This leading officer was forced to retire from the IDF in the wake of the criticism he received for his performance during the Second Lebanon War as the commander of the Galilee Division.
    Current Employment: Brig. Gen. Hirsch is one of the owners of Defensive Shield, a security consulting firm.
    In Georgia: According to sources in Israel, Brig. Gen. Hirsch helped the Georgians establish elite units akin to elite Israeli units.

    Israel Linked To Georgia Security http://www.the-peoples-forum.com/cgi-bin/readart.cgi?ArtNum=3328

  18. MirrorMirror says:

    @Youri .. Thx for the links


    Keiser Report: Paper Money Collapse


    12 mins


  19. Vonda Bra says:

    Bob Chapman Dead (1935-2012) ๐Ÿ™


    RIP Bob!

  20. kdt says:

    @vonda addam k did us all a service there! i wached till i could not take the distortions any more! poor addam he was ‘wincing’ at his answers like they were physicaly painfull.

  21. Flopot says:

    Copying and pasting FBeard debate…still wading through “Debt 5000 Year History”…brain cannot cope…hallucinating old advert…

    “Tense nervous headache? Nothing acts faster than Bin Laden!”

    No, that can’t be right…

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