An Hour In The Company Of Kyle Bass – heretic against the orthodoxy of economic thought
3m20s “This is kind of heresy against the orthodoxy of economic thought.”
3m55s “The quantative analysis, in my opinion, is already been done, there’s just a question of when will this unravel and how will it unravel.”
4m45s “Debts have grown at an almost 11% compound annual growth rate over the last 10 years. We sit today at the largest peacetime accumulation of debt in world history. One of things we talked about in the back after the last panel and very few people are willing to go out there and say this: you know how this ends right ? This ends through war.”
6m50s “Germany has an 82% on balance sheet sovereign debt to GDP and their banks are 340% of their GDP and they haven’t recaped them. Is Germany really this island of fiscal rectitude that we think they are ? They’re not.”
9m55s “You’re seeing CPIs print much higher than expectations and you’re seeing industrial production prints much lower than expectations.”
10m5s “We’re starting to get to this bad kind of inflation and the cost push, the misallocation of capital via governments.”
10m55s “Even with the advent of the LTRO in February, something that was interesting to us is we follow peripheral capital flows. They didn’t slow down, they kept running, they kept running from Spain, they kept running from Greece, all of the deposits were still running when the European leaders were victory lapping on the back of the LTRO.”
13m45s “When your banking system gets to 10 times your GDP and you lose 3% of your banking system, you’re finished and that’s what happened to Iceland, that’s what happened to Ireland, it’s really what happened to a number of different nations and now look some of these countries still haven’t restructured their banks.”
16m25s “When your debts are 20 times your revenues if you try and inflate your way out of this through revenue and it moves your swaps curve or your debt costs your expenses grow exponentially while your revenue grows in a linear fashion. It just makes sense, this is logic. So when you think about Japan, they’ve got 24 times their central government tax revenue is debt. If Japan ever moves to an inflationary bias, they’re finished. Their swaps will move more than 2 or 3 hundred basis points and they spend more than their central government tax revenue on interest. If you’re trying to define the Keynesian endpoint it’s when you spend more than your revenue on interest alone.”
53m5s “But when I met with both sides of the aisle, both sides of the aisle want a bullet in their head then when both sides of the aisle want a bullet in your head you’re going to get a bullet in your head.”
55m35s “If all of us in this room are hoping that the fed can restore some sort of economic prosperity then gold help us all because they’re not going to be able to do that. The zero lower bound in my opinion is that last chapter in Keynes’ book.”
56m55s “In the conclusion section he talks about the zero lower bound as knowing that’s where everything’s going although he implicitly says it not explicitly. When you get to the zero lower bound and if you’re headed there to try to avoid a painful restructuring, well that’s the end.”
Sandy Hook Shooting Exposed As a Fraud
“Smiling as he comes out, then he has to work himself into looking traumatized.”
Are any of you as absolutely startled as I am ?
Who can smile if their child or children have been brutally murdered ?
What is going on here ?
Let Teachers Carry Guns? Some State Lawmakers Say Yes
“Tuesday, Huffington Post counted “at least six states” where lawmakers “have outlined plans to introduce legislation in 2013 to allow teachers to carry guns into schools or require several teachers to be armed in school buildings.” Those states: Florida, Minnesota, Oklahoma, Oregon, South Dakota and Tennessee.”
Matt Taibbi: ‘Even People On Wall Street Were Blown Away By The Result’
“Matt Taibbi and Eliot Spitzer react to news that DOJ and other federal and state authorities have opted not to file criminal charges against anyone at HSBC.”
“”The decision to not prosecute in this instance belies everything that the government has ever done with regard to drug prosecutions everywhere. I mean, when you think about the way they behave toward ordinary people who get caught up in drug cases, where they seize all your property and they use absolutely the maximum sentences they can possibly avail themselves of, and in this case they catch a bank that launders billions of dollars for Colombian and Mexican drug cartels … for years on end, and they can’t find something to charge these people with?””
We must not have a two tier justice system.
Obama and Cameron Decide Banks Above the Law
“disgraceful refusal to prosecute HSBC and its officers”
Weather forecast for 21st December 2012
Libor Manipulation Cost Fannie Mae, Freddie Mac $3 Billion, Watchdog Says
The American taxpayer then bailed out Fannie Mae and Freddie Mac – aka more looting.
Keiser Report: Battle of Wall Street
“In this episode, Max Keiser and Stacy Herbert look at the shootout at the OK Bond Corral as sovereigns battle Wall Street — which in turn battles state pension funds — for the same piece of infinitely re-hypothecated garbage collateral. In the second half, Max Keiser talks to hedge fund manager and ‘Planet Ponzi’ author Mitch Feierstein about the bond market, central bank-induced deflation and the London property market.”
30s “The last dregs of wealth left in the global economy have been chased into the bond market.”
God in heaven help any holding bonds.
Hispasat orders Overon to take Press TV, Hispan TV off air
Why is an Iron Curtain being drawn around Iran ?
Ottawa orders Canadian scientific journals not to publish Iranian articles
Iranian national dies in US two days after intense interrogation
“According to Sarreshteh’s wife, the interrogation involved a great deal of shouting and intimidating in English, which neither of the two understood. The detention and interrogation lasted for more than five hours.”
“Customs and Border Protection at Dulles has, however, denied the inappropriate treatment of the couple, arguing that “Mr. Sarreshteh’s admissibility review was of a routine nature.””
Shouting and intimidation is now called an ‘admissibility review’ is it ? The USA of 2012 is fast descending into Nazi Germany,
Diplomat Admits China Is Accumulating Gold To Back The Yuan
““Unless the Federal Reserve comes up with a long-term plan for printing food, water, rare earths, silver, we are going to have serious problems because the paper will become worthless. Longer-term, no one is going to keep giving you something that is critical and rare in exchange for something you can just press a button and print.”
“The Chinese obviously get this and they are hoarding these critical resources….”
“This game of manipulation we are engaged in with the gold market is going to stop sooner rather than later. Time is running out on these schemes and when it does stop and when they lose control, you had better be positioned in gold because this will be a bull market to end all bull markets.””
Rising Economic Powerhouse Brazil Hungry for Gold
“Reports coming out of the IMF indicate that Brazil has DOUBLED its holdings of gold since the end of August of this year. It is now officially holding 2.18 million ounces compared to 1.08 million ounces at the end of August. IMF data reveals that Brazil purchased 472,000 ounces in November.”
Doubled their stash in last 3 months – DAMN.
Will the USA try to force Brazil back onto the non-federal non-reserve note ?
China claims biggest global silver market
Maguire – Physical Silver Market Has Now Diverged To Extremes
“Maguire: “Silver at on point at the highs in Shanghai was trading at a $1.75 premium. That means a single contract was trading at an $8,694 premium to a Comex contract. That’s ludicrous. That really gives you a much better picture (of what’s going on in the physical market).”
Silver To Gain 29% In 2013 – Analysts, Traders And Investors
“According to Bloomberg, one of Singapore’s largest suppliers of coins and bars to retail investors, says sales tripled since October, part of a global surge in demand for silver that drove holdings to a record.”
Gold And Silver “Paulson’d” Again?
“Another day, another precious metals’ dumpfest. Many have argued that this could not be a sophisticated hedge fund as they would surely ‘trade’ their position down, as opposed to hit the street with it all at once? Well, it appears whoever keeps doing this ‘dumping’ does not have the greatest price-sensitivity…”
Why don’t these clowns sell gold and silver down $0 ?
Gold and Silver Smackdown: Same Time Last Year
“The takedown in gold and silver is fairly obvious, so much so that all but a career bureaucrat might have trouble not noticing it.”
Last January there wasn’t $85 billion a month coming from QE3 and QE4.
Nigel Farage: Back In The EUSSR…
“What the Nobel Peace Prize means to Europe.”
“The angry, debt-enslaved people of Greece and Spain, together with the minion state thugs obeying the Troika diktat through the channels of their puppet governments.”
Syrian Rebels Demand $700,000 for Russian, Italian Hostages
Predator Drone ‘Double-Taps’ Highlight Possible War Crimes By Obama
“While these tactics, when discussed at all (Obama’s drone program is shrouded in an intense level of secrecy), are justified under the rubric of “national security,” even the Department of Homeland Security and the FBI have classified “double-taps” as staples of terrorists, not the repertoire of supposed constitutional republics.”
“It is very depressing, understanding, with absolutely painful clarity, the number of recent US Presidents who have been war criminals, by any reasonable definition, dressed in very expensive suits.”
The 2009 Nobel Peace prize winner has become a war criminal.
Rosen: Most Important & Informative Chart Available Anywhere
““The year 2013 should see the beginning of the biggest stock market decline since the collapse of 1929 to 1932. The patterns since the year 1913 are continuing to inform us that a monumental decline in the DJIA and the S&P 500 will begin in the first half of the year 2013.””
““Everything is on schedule. This includes the decline in gold, silver and their shares into the month of December 2012. Nothing has changed. Once the DJIA and the S&P 500 begin their collapse, gold, silver, and their shares should begin a rise bigger than any rise we have seen to date and that includes the precious metals bull market of the 1970’s. ”
Lanny Breuer: The Real Reason UBS Rigged Libor
“U.S. Assistant Attorney General Lanny Breuer speaks at a news conference on the settlement reached with UBS on Libor manipulation.”
“’To maximize profits and to hide its weakness during the crisis.’”
Psych meds linked to 90% of school shootings
“Some 90 percent of school shootings over more than a decade have been linked to a widely prescribed type of antidepressant called selective serotonin reuptake inhibitors or SSRIs, according to British psychiatrist Dr. David Healy, a founder of RxISK.org, an independent website for researching and reporting on prescription drugs.”
How about restricting all these antipsychotic drugs ?
Senator Jay Rockefeller Calls for Gun Control and More Psychoactive Drugs
This guy more of these antipsychotic drugs so more Americans will have their brains fried.
Zero Guns: Washington’s New Big Threat Is Gun-Qaeda
Dianne Feinstein in 1995 on her concealed carry permit: ‘I know the urge to arm yourself because that’s what I did’
Obama: “I Will Use All The (Usurped) Powers Of This Office” To Restrict 2nd Amendment Rights
1952 Supreme Court Ruling Can Nullify Obama’s Illegal Executive Orders Against the Second Amendment?
The Next Seven States to Legalize Marijuana?