We look at the the central bank revolution that will end in disaster with Japan leading the way after voters have demanded even more aggression with the nation’s monetary policy. They also look at Moody’s ratings getting no respect because nobody has done better than flipping a coin for 50 years in a slow burning prison. In the second half, Max Keiser talks to Peter Schiff about bonds, dollars and governments buying their own debt.
PETER SCHIFF TAKES MICHAEL MOORE APART
Moore’s film, “Capitalism: A Love Story” was a wasted opportunity. If he had exposed derivatives like he did Charlton Heston in “Bowling for Columbine” the film could have scooped and exceeded “Inside Job.” But as you can see in this video by Schiff, Moore is completely out of his depth when talking about markets, capitalism, finance and economics. I visited with Moore at Cannes when BFC was in competition (winning that year). I tried to get him on board with Karmabanque tying boycotts to short-sales and activism but he couldn’t get past the idea that anything remotely touching Wall St. in any way had to be avoided at all costs. Shame. It’s a huge blind spot by most activists. Fortunately groups like UKuncut and ‘Debt Strike’ get it and are moving in this direction.