Tag Archives: IMF

Keiser Report 162 – 060711 – European Firesales & Michael Hudson

Financial, , , , ,

 

In the first half of this episode (15 mins) Max and Stacy talk about the firesale of income producing national assets by governments within the EU (you know, those things that are bought, paid for and owned by the taxpayer). They reference this article in the Guardian newspaper, in which you may notice this in the section about Britain –

‘the Treasury indicated that plans for a new Public Data Corporation would involve selling public data to the private sector.’

Nice. I wonder what public data this will be? Census information by any chance? Don’t forget to add yourself to the ‘do not call register’.

As Stacy points out, via these firesales the countries are going to be giving up their income-producing assets which will of course reduce their revenue, thus further destabilising their economies as well as sending the income from these assets abroad to private interests.

According to Stacy, this is ‘neofeudalism.’ According to the IMF, the EU and various governments, this is being done to ‘help’ Greece and the other countries to solve their financial woes and stabilise their economies. Can you spot the disconnect? All answers on a postcard to Herman Van Rompuy who is (allegedly) offering a nice Greek island to the lucky winner pulled out of the hat.

Max provides the example of the Greek state lottery, which produces revenue of 900 million Euros per year and can be snapped up for a bargain 450 million Euros. Huh?

In the second half of the program Max talks to economist Michael Hudson about Greece, the IMF and the ‘class war of the banks against the rest of society.’

Keiser Report 161 – 040711 – Greece & Yanis Varoufakis

Financial, , , , ,

 

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.