In the first half (15 mins) of this episode Stacy Herbert explains that the firesale of Greece in London this week drew no buyers. Max Keiser talks about how Greek feta cheese is ‘raised on a plantation’ as well as how the IMF are starting to aim their sights at America and how ‘Pop Idol’ and ‘suicide banker’ Lloyd Blankfein (and his ‘merry band of derivatives’) is going to blow himself up there, as Egypt won’t let him do it round at their place. 😆
Stacy talks about how the IMF has urged the USA to raise it’s debt ceiling, while in the same breath telling the USA that it’s debt is unsustainable in the long term. Huh?!!
Shortly after telling them this, Standard and Poors tell the USA that if it misses a payment its credit rating goes to ‘D’ (IE worse than Greeces rating.)
In the second half Max talks to Yanis Varoufakis, a Greek economist, who gives his take on the current situation with Greece and the IMF. According to him, this is not some cunning plan with a specific outcome, but rather an act of desperation in order to kick the can down the road a bit further due to many of the banks being effectively insolvent since 2008 along with the EU desperately trying to save it’s skin by delaying a ‘Lehman moment’ across Europe.