I’m always amused by bomb-throwing economic pundit and talkshow host Max Keiser. His fast-talking, fast-thinking tell it like it is persona is always entertaining, even when I’m not 100% in agreement with what he is saying. (I also like watching his various programs (made for Russia Today, Press TV and BBC) because he produces them using the same suitcase sized production suite that I use for the DM talkshow, the NewTek Tricaster.)
When someone who puts themselves and their opinions out there as forthright as Max Keiser does his, it tends to be a love it or hate it affair. I love the guy, how refreshing is it that someone is saying something like this? Now mind you, he’s saying it on Iran’s PressTV network, but still… he’s right:
Press TV: Is the dollar in a freefall or exactly what is going on?
Kesier: Well what’s going on is you have the banks in the United States committing a financial holocaust. It is probably the worst holocaust in the last 100 years. What there doing is they’re destroying real estate values, jobs, wages and pensions. And they do this by flooding the market with more debt in the form of US dollars. As your package accurately said, the US has no reserves upon which to issue dollars; therefore, by definition every dollar that is issued is debt. This debt holocaust is wiping out the middle class on purpose. Because the rich people in America want to buy those houses. Those millions of houses out there that people are still living in. They want to buy them back for maybe one penny on the dollar. This is a financial holocaust by design. The American bankers are holocaust brokers. They should be in front of a human rights court and taken up on human rights abuses and all hung.
Press TV: Now Max, you’re saying that it’s by design for the benefit of the rich to destroy the middle class. Wouldn’t that in effect destroy the economy as a whole?
Kesier: No, because if you’re a Goldman Sachs banker, you are completely protected from this phenomenon. Plus you’re buying gold, you’re buying silver and you’re buying tangible assets. So you are not taking any risks. It’s okay to simply wipe out the middle class. It’s a holocaust. Just like the holocaust we saw in WWII. In America we are seeing the holocaust of the middle class by a few extraordinary, greedy, corrupt bankers on Wall Street; principally Goldman Sachs, J.P Morgan and the gang.
Press TV: If the US uses the quantitative easing of printing money, do you think they want to get out of this economic downfall or do they want to continue to print the money to basically put the country more into this economic slump to benefit a few? Is that correct?
Kesier: Yes, it’s a domestic terrorist attack on a sub-group; in this case the middle class. If they wanted to bring about a solution, the solution is very easy: Ring fence all the corrupt banks, put all of that bad debt behind a firewall like they did during the savings and loans crises of the 1980s. The Resolution Trust Corruption ring fenced all the debt and they restarted the economy by creating some new banks. And these new banks were able to get loans and they could create inflation, which would have the effect of stimulating the economy. That is clearly the way the solution could be offered. But this is not what’s happening. So clearly we must conclude that the bankers on Wall Street our not doing the obvious solution but the complete opposite of what should be done. They are increasing the debt load by flooding the market destroying houses, jobs, wages and pensions.
Hear, hear! An extraordinary thing to say, I think you’ll agree, but find me the fault in his logic. If the American public was sane (which it’s not) there would be rioting in the streets and vigilante justice all over Wall Street.
Read more: ‘US Financial Elite Destroy the Dollar’ (PressTV)