Max Keiser: 'America will lose its sovereignty'

[maxkeiser]

Run time: 12:50 https://www.youtube.com/watch?v=5CHKjKi_LZc   Posted on YouTube: July 30, 2011 By YouTube Member: RTAmerica Views on YouTube: 57418   Posted on DU: August 02, 2011 By DU Member: maxkeiser Views on DU: 730

 

[midnight]

1. The Timmy Geithners that brought this country to it's knees are still in charge..

The Republicans and Demorcats are just dancing when they turn on the music.... The IMF took the tax payer's money and gave it to their foreign bankers and are now telling us we are being down graded... How's that for graditude? The Congressional Oversight Panel accused, Thursday, the US Treasury of mishandling TARP money, saying that foreign banks received far more help from the US rescue effort than local financial firms did.

The panel cited, for instance, the rescue case of troubled insurer American International Group (AIG). Even as the US government "bore the entire $70 billion risk of the AIG capital injection program," banks in France and Germany turned out to be the biggest beneficiaries, the panel said.

"The US share of this single rescue exceeded the size of France's entire $35 billion capital injection program and was nearly half the size of Germany's $133 billion program," the panel said in its latest report.http://www.ibtimes.com/articles/43012/20100812/tarp-funds-benefited-foreign-banks-more-says-oversight-panel.htm



Timothy Franz Geithner (pronounced /ˈɡaɪtnər/; born August 18, 1961) is an American economist, central banker, and civil servant. He is the 75th and current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York.
Geithner's position includes a large role in directing the Federal Government's spending on the financial crisis of 2007–2011, including allocation of $350 billion of funds from the Troubled Asset Relief Program enacted during the previous administration. At the end of his first year in office, he continued to deal with multiple high visibility issues, including administration efforts to restructure the regulation of the nation's financial system,<2> attempts to spur recovery of both the mortgage market and the automobile industry, demands for protectionism, President Obama's tax changes, and negotiations with foreign governments on approaches to worldwide financial issues.<3><4>http://en.wikipedia.org/wiki/Timothy_Geithne

[Pooka Fey]

2. Nice concise summary, very clear & easy to understand. K&R

I only don't agree with the analysis that the Gold and Silver savers are really going to clean up. Precious metals have to be converted into cash to actually purchase something, so if it takes an aircraft carrier of practically worthless dollars to buy an ounce of gold - I don't really follow the logic that these new unheard-of prices are "a good thing".

Basically, the oligarchs are going to trade their gold to other oligarchs for obscene amounts of practically worthless currency, when it's time to rent a private jet to fly little Oligarch Jr. to his summer camp, for example, and the 99.97% of Americans who are mired in poverty will just be locked out of a livable society.

History doesn't look too favorably on societies that are constructed in such a fashion. I don't feel I need to go into the details, but this system is not going to work out for anyone - not for the average American, and not for the Money Party elites. And it won't be pretty.