Video: Keiser Report for 11.26.09
Another solid Keiser Report with him talking about the fallout from the AIG Bailouts, US economy, financial terrorism and US small businesses among some discussion on the two wars in the Middle East.
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Happy Thanksgivings
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Video: Keiser Report - “Suicide Bankers Are Terrorizing Wall Street”
Here is a report from Max Keiser’s new reporting series called “Keiser Report”. It is very well produced with Max Keiser using his hard-hitting news and impressive wit to talk about serious issues that are not getting any real play in the normal financial media. He does a piece on Alan Greenspan that is pretty damning that takes a clip from the new Frontline documentary “The Warning“. Also he talks about credit-default swaps and how President Obama still has many Wall Street insiders around him that are partially guilty for many of the economic problems we are experiencing currently through their policy of deregulation or lack of enforcing regulation that were on the books. Please leave your comments on what you think.
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Video: Hearing on the “Audit the Fed” H.R. 1207 Bill
Karl did it again with his hard hitting commentary along with asking the hard questions. The video is very informative, I learned from the Federal Reserve’s own legal consul, that JPMorgan Chase does stock market trading for the Federal Reserve.
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Video: Rep. Mark Kirk says China may be purchasing $80 billion in gold bullion to increase reserves
Editor’s Note: Admittedly, Fox News is not my favorite news organization. This video of an interview on Fox is pretty good and Republican Representative Mark Kirk from Illinois gives a pretty solid perspective of some of the debate that are happening in Washington and globally about the U.S. dollar and China as our largest creditor. The omission that China is going to buy $80 billion in gold bullion says a lot about their inflation expectations in itself. To put that into perspective, if you purchased that amount a current price ($920.00/oz.), that would equal 2,717 tonnes of gold bullion. According to the World Gold Council, that would outstrip an entire years mining production for the entire globe. If that is not some indication about our current situation and what is expected for inflation, than what else do we need? Enjoy the video.
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Video: DeMint amendment to audit Federal Reserve blocked by Senate leadership
Editor’s Note: Watch this video if you would like to see what is happening to the “Audit the Fed” bill that has been co-sponsored by over 50% of the U.S. House of Representatives. It looks like the Senate is using “Rule 16″ to stop this amendment to the bill even when the same Senate has language in the same bill that violates the same rule they are using to stop this amendment. Oh the hypocrisy.
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Video - MidSouth Bank President: “Free enterprise has to have the right to fail”
Editor’s Note: Karl over at Market Ticker ran this video titled “Not All Bankers Are Liars”. I watched it and I do think with his credentials, Rusty Cloutier has advice about this current subprime (note: subprime as in all instruments involved) financial crisis that carries merit. He talks about the free enterprise, market system and how you have to let the downside effects happen and I assume the upside as well. Rusty and Karl are correct that certain legislation’s that were in place to prevent systematic risk, are at the heart of this problem. Also, with Rusty being a former Federal Reserve Boardmember, he would understand how monetary policy does affect the outcome in the “real” economy. We need a fair system that has basic rules that are to be enforced. If you don’t like a rule, then lobby to change it and it is our obligation to be able to make a case against an obvious “bad” rule.
We also need to let companies fail to set precedence so over time these types of events do not continue to happen. Its not our job to try and prevent anything bad from every happening, because that would become to restrictive to capitalism over time. It would smother innovations because the fight would be to costly. So if we do not take that course, then I propose that we create the framework for all actors to play in and enforce the rules every time so we get the desired effect. Only then you can look back at the data and debate if that “was” the correct course of action and possibly make another decision in the future. This is a cycle that helps move us forward. What do you think?
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Enjoy!
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Video: James Grant on CNBC talking on The Fed, monetary policy, economy and what the future may hold
Check out this interesting video from James Grant of the “Grant’s Interest Rate Observer“:
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