Bernanke-Dimon-Fed-TunnelIn this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss the EBT ‘free lunch’ card chaos at Walmart when an ‘unlimited’ benefits glitch causes card holders to pile shopping carts high with ‘free’ goods, while on Wall-Street, the ‘free lunch’ card of Quantitative Easing has caused a similar misallocation of capital into property and toxic debt instruments. Finally, they discuss the world about to shut off America’s ‘free lunch’ card, otherwise known as the Exorbitant Privilege’ of having the world’s reserve currency. In the second half, Max interviews Alasdair Macleod of about the $640 million sell order of gold. They also discuss Alasdair’s new theory on money supply (FMQ) and his differences with Professor Fekete, a recent guest on the Keiser Report, regarding whether or not there is deflation.

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  1. Max I usually enjoy your segment but you have cut Allistair off at the end and prevented him from completing his argument for Inflation vs Deflation. You gave him the last minute of the show to wrap up his argument, then immediately proceeded to steal it right back from him, you yapping, mangy mutt. Why can’t you STFU and listen for a change?
    I hereby boycott your next six episodes.
    Goodbye Max.

  2. Hey Speros – not to be a smart ass here – but there are 2 versions of this $640 mil thing. The accepted version generally assumes the notion of market rigging the PM’s by…..TaTa(drum roll)….you guessed it, and….tata(drum roll)…..we all know why. Who in their right mind would unload that much of anything in an attempt to maximize profits. After all, maximizing profits is what the free market is all about(yeah i know, RIP that thing) Then there is the ‘there is no market manipulation’ version. Prices are going up on everything except AG & AU, they go down and that $640 nil dump was a normal thing. Nope, nothing here to look at. For further details on the ‘there is no market manipulation’ theory get ZMAN’s input………

    • Big TOm,
      No see my beef was not with the merits of the discussion points either way, although I do hold a very strong position regarding market manipulation, i.e. you’d have to be deaf, dumb, blind, stupid, or a shill, to deny it (or some combinaiton of those attributes). I’m just pi55ed at Max the way he doesn’t let his invited guest to argue his point.
      As for the ZMAN, well, his point of view flies in the face of reality most of the time. His favourite meme “physical markets cannot be manipulated” does not hold. Every physical market on the planet is manipulated to some degree. In another thread I gave the example of De Beers controlling the price of diamonds. I could give numerous examples, such as gasoline prices. In Sydney, we have so-called “cheap Tuesday”. Every major fuel company drops their prices on Tuesdays, and raise it back up towards the weekend. This is done only to create the illusion of competition. They operate as a cartel, although the consumer watchdog has never been able to prove it. Not being able to prove something does not mean it is not obvious or not happening.

    • physical settlement does limit manipulation.  If you sell the gold market short you can be forced to make with the gold.  If the market were index settled or average price settled, you can sell short and sell shorter and you are rewarded for the effort by a low settlement price.  The person on the other side has no recourse.  In physical that person says “gold please!”
      we are seeing a lot of gold exit the system, possibly for reasons as described above.  In silver we’re seeing silver supply steady to higher.  Hard to believe that silver is being manipulated lower when people are actively selling the paper and following through with the physical… and those taking the physical are leaving it in the system meaning they do not want the physical ownership.

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