Max Keiser - Eurozone debt crisis-News Analysis

[maxkeiser]

Run time: 25:59 https://www.youtube.com/watch?v=Q6uFbj7iAhk   Posted on YouTube: July 22, 2011 By YouTube Member: PressTVGlobalNews Views on YouTube: 1781   Posted on DU: July 23, 2011 By DU Member: maxkeiser Views on DU: 1205

 

Keiser: Let’s put it into a very broad perspective and go back to 1793 here in Paris after the French revolution the people decided that their banker infestation problem had gotten to a point where they could do nothing else accept take advantage of the new invention of the day – the guillotine, and they started cutting heads off.

Are we at the point now to say look the banks are not going to stop, they’re totally in bed with the government, they’re stealing all of our money, they’ve got no morals no scruples, they’re terrorists. Do we need to cut their heads off? Will that send the correct message to Goldman Sachs and JP Morgan if Jamie Diamond’s head is bouncing down Wall Street – will they get the message then? What will stop them?

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Keiser: This crisis that was manufactured entirely by banks and we know the role US banks in particular Goldman Sachs played in setting Greece up to fail going back to 2001 when they joined the Euro and cooked the books on behalf of the government in Greece to join the Euro. And now ten years later they’re coming back with folks like the IMF and other world banking institutions and in my opinion what they want is the gold.

They’ve got 111 tons of gold in Greece, but here’s the kicker – Italy has 2400 tons of gold. All of the central banks around the world are net buyers of gold now. Now that all of their failed policies are causing the price of gold and precious metals to rise every year and going forward to rise again for the next ten to fifteen years these central banks are hungry for gold – Italy’s got gold – that’s what they want.

That’s what this whole charade is about. Stage a fake financial crisis and give us your gold. In my opinion that’s really the dimension of what we’re talking about.

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Keiser: Absolutely. It’s an ongoing crisis of academics and PhDs having taken over where the central banks should have been prudent with their theories of expanding debt loads exponentially and never having to pay off these debts. That’s their theory, and it’s been discredited – apparently debts have to be paid back.

But they’re not going to budge. All they’re going to do is keep making debts upon debts. Christine Lagarde, for example, her solution is to increase the debt. Going back to Davos last year, they said that maybe we need to create a new global credit facility of 100 trillion dollars. Let’s create a new global central bank; let’s create a new global world currency to feed the debt and have global taxes to pay for the new global central bank – that’s all they know how to do.

If you give a dog 40 pounds of dog food the dog will eat itself to death and that’s what we’re doing to Wall Street – we’re giving them unlimited credit, no risk on that credit and we bail them out every time they make a multi-billion dollar mistake. They are destroying themselves and they are destroying the economy because they are psychotic suicide bankers; they need to be terminated or we’re all going to be blown out of the water with all this incredible debt.