Keiser Report: God Hates Bankers (E372)

We discuss the water and fire signalling the arrival of the paper apocalypse as ever more analysts warn of the debt and credit bubble as governments put their faith in share traders who, a new study shows, are more manipulative than psychopaths. In the second half, Max Keiser talks to professor and economist, Steve Keen, about the fiscal cliff and private sector deleveraging. They also discuss the possibility of a currency collapse in Japan.

159 comments on “Keiser Report: God Hates Bankers (E372)
  1. Asif says:

    Gold is money! We are tired of worthless paper or even less digits on computers being used to enslave the masses, bring back justice! We want gold!!!

  2. Jimbo says:

    Keen is certainly not a fan of free markets.
    Folks in Australia have just been given a choice of colleges – Ergo Keen is now out of a job.
    Suggest he try a marketing course.
    Is Gold money? Well is it valuable and can it be spent in any country? Why do central banks not just sell this worthless relic? Oh I forgot – they did years ago – they just dare not admit it. Rather cowardly considering it is a barbaric historical yada yada.
    Yes Steve – keep with the stripping – you might find at least someone interested in you.

  3. Youri Carma says:

    Fed likely to expand QE with Treasurys: report

    Biggest insider trader on earth does Comedy Central’s ‘Daily Show’

  4. Flopot says:


    Money is free speech, eh? I would trust Mr Keen over your kind of tripe anyday.

  5. Youri Carma says:

    H-P’s credit rating cut by Moody’s

    KCAP execs to pay $75,000, settle valuation charge

    Google’s media business dominance accelerating

    Fiscal cliff at the pump: Gasoline prices hit record average in 2012

    Post-Schapiro, SEC enmeshed in gridlock – High-speed trader limits, Volcker Rule and hedge-fund rules delayed

  6. swell says:

    Senate Passes Cornyn-Blumenthal Child Protection Act of 2012

    Of course these laws never end, they never stop passing them.

  7. swell says:

    CNN discusses the Darrell Issa bill proposing a moratorium on all Internet legislation for 2 years. Comments seem particularly cogent, implying that either Rep Issa underwent metanoia or it a ruse.

    Congressman proposes 2-year ban on bills about Internet

  8. MirrorMirror says:

    Hilarious Real Money and Real Problems
    5 mins.

  9. swell says:

    “A pedantic sense of order is typical of the compulsive character,” wrote the Freudian analyst Wilhelm Reich in his 1933 book, “Character Analysis,” a groundbreaking text. “In both big and small things, he lives his life according to a preconceived, irrevocable pattern.”

    Thinking Clearly About Personality Disorders

  10. swell says:

    What is perhaps most particularly interesting about the illustrious renowned Dr. Wilhelm Reich, is how the US Government incarcerated him, quashed his extensive research and burned his vast quantity of journals and books.

  11. Febo says:

    Gold is money if you can spend it.
    If you can buy a house with it, its money.
    If the seller won’t accept gold, then gold isn’t money.
    At the moment gold is not money.

  12. Youri Carma says:

    2012: A Remote-Viewing Experiment (Full Version)

  13. swell says:

    Picture this: A case study in serious physiognomy:

  14. swell says:

    Of salient note is that DCI’s CV includes two degrees in economics.

  15. Youri Carma says:


    Dutch MP’s are a bunch of cowardly quacks (which comes from the Dutch word quacksalver btw). If the FED tells them that everything is OK and not to look any further they will tell the Dutch people that everything is OK cause the FED told them so and the Dutch people will believe that cause they are so very deep into the matrix and like the meat.

  16. Youri Carma says:


    And the Dutch central bank (DNB) is NWO. Former head of the DNB, Nout Wellink is a CFR member and Bilderberger.

  17. Saxon Samurai says:

    If the UK is on the brink of economic collapse then the government will be forced into a bradbury pound situation as there will be a run on the banks in a big way. Is there safety in gold for us? Yes but we’d have to borrow to buy it so its not really a solution. But then why trust the gorvernment. Their incompetence is depressing. Very clever to sell 60% of the nations gold at less than $300 an ounce and buy it back at over 5times that figure.

  18. Youri Carma says:

    Wall Street Professionals Admit: Yes, Lots of Us Are Corrupt

  19. Youri Carma says:

    Surprise: Right After The Election, New Home Sales Tumble From Downward Revised Two Year High

  20. Youri Carma says:

    @Febo – If you can buy a house with it, its money.

    So, if he accept my very expensive classic car my car is money? Mmm … donnow but I do understand what you’re trying to say. Which reminds me to look up Keen’s definition of money again.

  21. Dustbowl Daze says:

    I watch Keiser Report every Taco Tuesday and Taco Thursday. Also on Saturday, which does not have a specific food association for me.

  22. swell says:

    Brother Keen once seemed big on the eminent role of externalities, throughout the equation. We acolytes pondered such profundities as teaching computers, economics, the dismal science, in several threads featuring The Good Keen, some moons ago. IBM’s Watson had been in the news and had even won at Jeopardy. Now IBM has taken that A.I. (re economics) concept even above and beyond such a role and sees social prediction technology applications for pre-crime, which it is currently doggedly pushing.

    Jim Rickards, had scoffed at currency collapse, as sovereign debt can readily be monetized. Yet Rickards seems to have since come around a bit in his thinking and now discusses that risk more seriously, even as mighty Professor Keen has apparently backed down somewhat and now all but scoffs at sudden collapse. So Taleb’s Black Swan is naught? Nor harkens Minksy’s moment(arily)?

    My own bellwether of the dreaded crisis has always been the unscientific metric of the deliberate distraction in the degree to which the system foments moral panic, that red-herring which unleashes, like the Kraken, all perdition upon unwitting scapegoats. Where is the dialectic to Cornyn-Blumenthal Child Protection Act of 2012? News flash: there’s not. No push-back, no examination of the unintended consequences nor downside, at all. Cornyn is simply a serial (legislative) “moralist”. “Legitimate rape”(T)odd Akins, is actually a member of the House Committee on Science, Space, and Technology!!! Where on earth is the dialectic to that? What a profound metric of deleterious externalities in play. And now get this:

    SOPA’s daddy, Lamar Smith, to chair the House Committee on Science, Space and Technology.

  23. David Liberty says:

    Ann Rand in 1979 … on the Middle East

    Hmmm … Think she would have the same position today??

  24. Vonda Bra says:

    Nov 28, 2012

    UN Climate Conference: A Trojan Horse for Centralized Power !!!
    Mark Morano (“the godfather of climate change deniers” on info wars nightly news.. (19:21)

  25. Jayme says:

    The Rothschilds and The International Banking Cartel

  26. Terry says:

    M&S, Grab Steve Keen and come down to Australia for a flying visit to our capital cities and do some educating. You’ll be shocked at the depth of financial ignorance and a bit of M&S fiscal sunshine would be ‘just the ticket’ for raising the local financial nous. It’s fricking hot down here at the moment so bring your togs(ask Steve what they are) and we’ll throw a couple of shrimps on the Barbeque for Ya.

  27. Terry says:

    Gold may not be money but the problem today is that currency isn’t either because it fails the test…. What is money?
    Money should:
    1. … never lose it’s value/worth
    2. … be able to hold it’s value for thousands of years
    3. … should be impossible or too expensive to forge.
    4. … be easily divisible.
    Fiat currecy that fails any of these test is not money
    I like gold. I just sold some of my coins to pay down a debt and finance a renovation I’m doing on the back of the house.
    mmmmmmmmmm profit

  28. Bonn says:

    Fook !!!!!!!!!!!
    Even as the uproar over the recent arrest of two Thane girls over an allegedly “inflammatory” message posted on social networking site Facebook is yet to fade away, a similar case has now come to light wherein two men from Mumbai had to spend 12 days behind the bars and even lose their jobs.

    In the shocking example of the alleged misuse of Information and Technology Act , the men — K.V. Rao and Mayank — were arrested for allegedly posting offensive comments against some Congress leaders on their Facebook group earlier this year.

    The duo was employed with the national carrier, Air India. They were arrested in May on the basis of a complaint filed last year. After suffering all these months, they have ended their silence for the first time on Headlines Today on Friday. Out on bail, they narrated their tale of alleged harassment.

    The two accused had shared a joke and distorted Congress party’s election flag to express their angst against the politicians. They alleged that their personal enmity with a leader in Air India union led to a complaint to the cyber cell over some “objectionable contents” in the closed group of Air India cabin crew. They were soon arrested from their houses.

    “This is injustice. They arrested us at 1 am. They gave no reasons for the arrest as well. This is misuse of power,” alleged Rao.

    His wife Rajshree said, “They said ‘we are police, we can arrest anyone at any point of time’. My kids were scared to the core. In the middle of the night they asked us to come to the police station.”

    “I was humiliated badly. Policemen with machine guns came in the night and took me away,” the other accused, Mayank, said.

    The passports of the accused were impounded for six months. With the duo embroiled in the legal tangles, the Air India management also shunted them out. Family members said that it was a hard time for them and they could never understand why police acted in such a manner.

    Now, despite being released on bail, the duo has been doing the rounds of courts and police station.

    They came out to tell their plight to the world after the arrest of Thane girls — Shaheen Dhada and Reenu — highlighted the misuse of IT Act by the police. While Shaheen was arrested for criticising the “shutdown” in Mumbai on November 18, a day after Shiv Sena founder Bal Thackeray died, on Facebook, her friend was arrested just for liking the post.

  29. Bonn says:—carol-loomis-pt–1
    Warren Buffett & Carol Loomis Pt. 1
    Carol Loomis collected over 40 years’ worth of Warren Buffett’s stray thoughts for her book, “Tap Dancing to Work.”—carol-loomis-pt–2
    Warren Buffett & Carol Loomis Pt. 2
    Warren Buffett and Carol Loomis explain how those catching the financial crumbs falling off the American economic table can make a lot of money.

  30. Youri Carma says:

    Batman Shooter: Manchurian Candidate Programmed by Evil Therapist

  31. Youri Carma says:

    Extremely Scary Ghost Elevator Prank in Brazil Which made the Daily Mail–ghost-girl-appears.html

    Somebody says: Terrifying Elevator Prank…just wrong. I can’t imagine this happening in the U.S. Lawsuits out the a**!

    I say: Then you should see the Japanese pranks, they top us all 🙂

    Sniper – Japanese Prank

    Japanese Pranks

    Japanese Prank Show : “Wake-Up!!!”

    Japanese ski resort punk’d

  32. David Liberty says:

    off topic

    This is a sad story … but in nature, “only the strong survive”. Are economic conditions forcing a reversion to the mean?

  33. David Liberty says:

    @YC … neat trick, start at 3 min

  34. Youri Carma says:

    11/29/2012 — Large eruptions at Sakurajima Volcano – Japan

  35. Youri Carma says:

    The Real News: Most New Jobs Don’t Require College Education

  36. David Liberty says:

    Is the city of Detroit, “the canary in the coalmine”?

  37. Youri Carma says:

    @David Liberty

    Yeah, amazing! How did he do it? Nice French banquette too btw, makes me hungry. Always fascinated with those magic trickery. Must see in this light:

    Weekend Film Tip : The Prestige (2006) Starring David Bowie as Nikola Tesla and with classic actor Michael Caine and Christian Bale.

  38. Youri Carma says:

    Fattest Finger Ever Slams Stockholm Stock Exchange With $70 Trillion Buy Order 😯

  39. Youri Carma says:

    Ugly Q3 GDP Confirms Personal Consumption Collapsing; Headline “Growth” Driven By Government, Inventory Accumulation

    4-Week-Average Jobless Claims At 13-Month High As Sandy Effects Gone

    First Greek Bailout Snag – Local Bankers Refuse To “Voluntarily” Participate In Critical Bond Buyback

  40. Youri Carma says:

    Good summary of latest markets:

    A Market Only A Mother Could Love

  41. Youri Carma says:

    New World Order (NATO/CFR/Bilderberg) executed Internet kill switch on Syria

  42. One modern Hellene says:

    Every soul must be subjugated to dominating authorities.
    Because there is no authority but from god,
    and the existing authorities have been established by god.
    So the opposer of authority is opposed to the god’s orders,
    and the opposers have sin to themselves.
    New Testament, Paul’s Epistle to Romans (13.1 – 13.2)

    The son of Zeus is dying and the Earth is horrified by Ηim,
    and the tombstone shudders. How will it cover Him?
    Because though he lies down, he speaks words that suit the brave one:
    “If only the Earth had steps and the Heaven had grips,
    so as to tramp the steps and to hold the grips,
    to climb up the Heaven, to furl myself and sit,
    to give a quake to the Heaven”.
    From Digenes Acritas (= Digenes, the border-guardian or The son of Zeus), Medieval Hellenic epic poem (Cretan variation)

    Ni dieu, ni maître
    Neither god nor master
    French slogan from May, 1968

    The title “God hates bankers” is not accurate. I would rather say that bankers love god, which god of theirs is money. In fact money is the god of the modern alienated from Nature, Humanity and Truth man generally. The saying “Money makes the world go round” proves it in its ridiculousness. Moreover I would add that the misery of the sleep-walking –as Max says (12:06)– modern man is axiomatic, because all societies have the leaders they deserve; and if humanity has such leaders, consider about these leaders’ subjects (as one cannot talk about free citizens).
    What is going on during the past few years in the world is its transformation to a feudalism of new shape. Fake debt of fake money (god or money is fake anyway) is used as the means to enslave the modern man. No one would willingly enslave himself to another man, and so religion has been fabricated to convince the peoples to be slaves of a fictious god. No one would willingly put himself in debt, and so fake debt has been fabricated to convince the peoples to be slaves of the owners of the fictious money. The recipe is old and well-tried. In order to be successful, a critical ingrediend is needed: division. “Devide and conquer”, says their moto. That ’s why the school-system, that they also control, produces alienated people. That ’s why narcotics and other crime devastates the Western societies. The modern man has to realize this: as long as he doesn’t care about his neighbor, as long as his only solicitude is to make money and gain power (what chance could he ever think he really has?), he will always be slave of others stronger or wealthier than him. Only if he sees himself as a son of Mother Nature, as a useful friend of his brother, he has a chance to gain his Liberty. And Liberty is always gained, never given.
    The religious system is the most important pillar of modern slavery, as it has been in every epoch. Its purpose is to feed the people with hope, so as not to revolt, but transpose the breaking of their chains to the future, a future that never comes. God is really the best friend of the bankers. So the destruction of religion, faith of any kind, is the first act of every lover of Liberty. His second action is to take the heads of his despots.

  43. Youri Carma says:

    French Unemployment Highest in 14 Years (And It’s Going to Get Much Worse) by Mish

    Student-Loan Delinquencies Surpass Credit Cards, 37.5% of Graduates Work in Jobs Requiring No Degree; Who is to Blame? What About Solutions? by Mish

    Indebted Dragon: The Ponzi Scheme Driving China’s Construction Economy by Mish

  44. Youri Carma says:

    This is funny:

    “Volume shadow banking is not too bad” the Dutch Central Bank (DNB) said Thursday on the basis of its own research (google trans from Dutch)

    – It’s like asking the Nazi’s about the severity of Jewish, gypsies, communists, disabled and all opponents murdering during WOII.

    – It’s like asking Blyth Masters about JPM’s insane naked short position of silver.

    – It’s like asking Standard Oil (New Jersey) about Stalin’s misdeeds

  45. Youri Carma says:

    @One modern Hellene

    I’ll catch your drift. What if every citizen refuse to go to work for a couple of days and demand justice. But I am afraid it has to get a lot worse for people even begin to think about uniting and enforcing such mass civil disobedience actions.

    People are simply too stupid, lazy to get informed or both. The rabbit hole goes too deep for them so they don’t even dear to think about all the evil which has been put on them and the meat still tastes too good over there, deep into the matrix.

  46. One modern Hellene says:

    To Youri Carma:
    I agree: People are stupid or lazy to get informed or both. But I don’t think that refusing to go to work will solve the problem. First of all because no authoritarian will resign due to a strike. Actually strikes work as a pillow for anger containment (this is the role of all left parties anywhere). At the end the employees return to their work, happy that they opposed, and the government passes the law it wishes, even happier. Unfortunately, there is no regime change without bloodshed.
    Secondly because gaining one’s liberty prerequisites a deep change inside one’s mind. How else can a slave become free? As I suppose you agree, customary slaves do not become free citizens, who keep their country in their hands, from one day to the other.
    Thirdly because there is no vision for the future. Let ’s say that a revolution succeeds and the regime falls. What ’s next? One of the same. The same regime of just different persons. For example that ’s what happened in Russia after the October Revolution. A tyranny was replaced by another tyranny.
    I cannot give a prepared solution. However I am sure that a deepest change of the quality of modern man is necessary. It is also necessary to cut the bonds with any authority. All bonds, mental and physical. For example, the teacher, who has succeeded in changing –as mentioned above– can then disobey the guidelines, he has been given from above and teach his students what is really worth teaching. If he cannot do that, he can teach at home without money. Generally I say: Do whatever you can out of the system. And if you have the opportunity to hit it, hit it as hard as you can. And educate your compatriots. Do not let them sleep. When someone says, for example “I will vote for the X or Y party”, present him evidence of what this party has done in the past to destroy the country, so as to show him his mistake. Distance yourself from massive production as much as you can. The free man is not a producer but a creator. So create quality, as best as you can. And offer it to your fellow man. Select your friends among the best. And reject the worst.
    And the most important of all. Quality will solve the problem and not quantity. A mass has neither thinking nor will. It has only emotion. It is driven wherever its controller wants. So mass movements are rejected without any second thoughts. Not to mention that one who controls a mass is an authoritarian already.

  47. Youri Carma says:

    @One modern Hellene

    Reading ya stuff but Yoda’s a bit wasted now

    Get back on it tough, on the other side …

  48. One modern Hellene says:

    To Youri Carma:
    Sorry, but I ’m afraid I don’t understand you. Too many idioms in both your comment and the link you give.

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