Max Keiser, another one of Mega's fallen Hero's

[Mega]

I thought Peter Schiff fall from grace was bad enough, but now i must add the Name of Max Keiser.

I like Max very much, i think Stacy is "Gal" is brill as well............But his personal stock value with me has fallen.

He Promised me that by now the UK Pound would do an "Iceland"..............It just has not happened.............nor do i expect it will. I think the problem is that not all nations are equal.......Britian & the US can "Screw" the system to suit them.

Mike

[nero3]

Re: Max Keiser, another one of Mega's fallen Hero's

I thought Peter Schiff fall from grace was bad enough, but now i must add the Name of Max Keiser.

I like Max very much, i think Stacy is "Gal" is brill as well............But his personal stock value with me has fallen.

He Promised me that by now the UK Pound would do an "Iceland"..............It just has not happened.............nor do i expect it will. I think the problem is that not all nations are equal.......Britian & the US can "Screw" the system to suit them.

Mike

I suppose they will "crack" up long term rates as after 1950, but not cause a hyperinflation, then it was huge infrastructure projects in the US. The huge debt load on the system that push yields down it gives a lot of room for quantitative easing, and a transfer of debt from the private to the public sector, that's why it wont go the way schiff predicts, instead there will be boom, not gloom. Grants interest rate observer was kind of pro hyperinflation in 1980 as well, never materialized. Robert Pretcher had the 80-s, but lost out after he predicted deflation, and was wrong for like 18 years in a row. He even changed his deflation thesis to something he called the silent crash, where the dow would just crash in real terms, but go kind of flat nominal, only to lately, fall back again on his ultra bearish deflation calls, only to probably be wrong again. Each of this gurus have their era I think. However, I suspect we have not heard the last from Schiff, if this turns out to be a correction like the one in 73-74, as I suspect it is.

[FRED]

Re: Max Keiser, another one of Mega's fallen Hero's

I thought Peter Schiff fall from grace was bad enough, but now i must add the Name of Max Keiser.

I like Max very much, i think Stacy is "Gal" is brill as well............But his personal stock value with me has fallen.

He Promised me that by now the UK Pound would do an "Iceland"..............It just has not happened.............nor do i expect it will. I think the problem is that not all nations are equal.......Britian & the US can "Screw" the system to suit them.

Mike

Schiff, Mish, Max, et al dislike the iTulip message: the world economy is a financial economy run by banks and governments. We don't like this fact, but ignoring and shorting the System can be dangerous. To wit, note how excited the markets are today that Wells Fargo ascually managed to turn the $25 billion in bailout funds into a $2 billion profit off $140 billion in mortgage refis made possible by hundreds of billions if taxpayer dollars poured by the Treasury and Fed into the mortgage market to push interest rates below 5%.

We learned in 2001 to NOT bet against the house, but pay close attention to what the house is doing. Long term, we hold gold because we don't think that in the end a finance-based economy will wok out, but it can go on for a very long time.

The dollar will be managed down; the dollar ratchet lives.

Mish, Schiff, and Max need to wake up and see how the real world works.

[nero3]

Re: Max Keiser, another one of Mega's fallen Hero's

Schiff, Mish, Max, et al dislike the iTulip message: the world economy is a financial economy run by banks and governments. We don't like this fact, but ignoring and shorting the System can be dangerous. To wit, note how excited the markets are today that Wells Fargo ascually managed to turn the $25 billion in bailout funds into a $2 billion profit off $140 billion in mortgage refis made possible by hundreds of billions if taxpayer dollars poured by the Treasury and Fed into the mortgage market to push interest rates below 5%.

We learned in 2001 to NOT bet against the house, but pay close attention to what the house is doing. Long term, we hold gold because we don't think that in the end a finance-based economy will wok out, but it can go on for a very long time.

The dollar will be managed down; the dollar ratchet lives.

Mish, Schiff, and Max need to wake up and see how the real world works.

All those guys, are to subjective I think, letting their personal ideologies, and wishful thinking affect their perception of the events way to much. Mish opposes bailouts, the same does Max, Schiff, but that's the solution, bailouts are the way to solve the short term. Success is to get the shadow banking system going again, it's not to reform anything, no way. The no more boom and bust, it's as truthful as Gordon Brown was in 1992, when he said that. The sick smile Larry Summers had, when he talked about how he did'nt want more bubbles, just say, what they don't say, but know. Obama can only have good terms through new bubbles, they can't reinvent capitalism, and rebuild the US economy from the ground up, just like that. I even suspect the decision with lehman was kind of pro Obama. Maybe that's a little paranoid, but who knows, I can't imagine the fed wanted that loose cannon mccain

[Mega]

Re: Max Keiser, another one of Mega's fallen Hero's

Schiff, Mish, Max, et al dislike the iTulip message: the world economy is a financial economy run by banks and governments. We don't like this fact, but ignoring and shorting the System can be dangerous. To wit, note how excited the markets are today that Wells Fargo ascually managed to turn the $25 billion in bailout funds into a $2 billion profit off $140 billion in mortgage refis made possible by hundreds of billions if taxpayer dollars poured by the Treasury and Fed into the mortgage market to push interest rates below 5%.

We learned in 2001 to NOT bet against the house, but pay close attention to what the house is doing. Long term, we hold gold because we don't think that in the end a finance-based economy will wok out, but it can go on for a very long time.

The dollar will be managed down; the dollar ratchet lives.

Mish, Schiff, and Max need to wake up and see how the real world works.

Fraid i got sucked into this line of thought. It made vulcan like logic, but i forgot that Mr Spock was not running things. Big players are ALWAYS going to move the goal posts.........

China?..........Not the big hope Max & Peter hoped for......she is under minding the $ bit by bit, little by little. She has no intention of a "Raid" or "Attack" on the West..........She spent 25 years getting America into "Polsition"..........if it takes 25 years to finish the job, Hey Fine.

Russia is backing off as well.......neither have made any REAL attempt to back their money with Gold/Silver. Strangly the best hope for Gold backed money is.......America!

I no idea what value Gold would have to be for her to be able to return to the Gold standard..............but it is possable.

Mike

[ThePythonicCow]

Re: Max Keiser, another one of Mega's fallen Hero's

the iTulip message: the world economy is a financial economy run by banks and governments

That's the most succint statement of the iTulip message I've seen. Thanks.

(If it's been said many times before in these terms, kindly excuse my ignorance.)

[c1ue]

Re: Max Keiser, another one of Mega's fallen Hero's

Mega,

Your taking too short a time line view.

Nothing is ever a straight line - either up or down.

As for gold backed currencies - from my viewpoint progress is as good as can be expected.

The noise over the SDRs is actually a prelude to making such a move. I originally could not understand why Russia and China would advocate using SDRs as 'reserve currency', but others have pointed out that this is a logical first move to wean the world away from dollars first - then bait/switch to something else.

But the process takes time.

The other thing to keep in mind is that stimulus packages do work - the question has always been whether the fundamental mechanisms have been altered.

Bush's stimulus helped for exactly 1 quarter. Obama's? perhaps not even that. That's the point of the new debt vs. GDP created ratio - at some point the return on deficit spending disappears before the ink dries.