Scathing review and long view: Keiser critiques U.S. domestic leadership

Unconscionable, deliberate erosion of social fabric

Editing by Carolyn Bennett

New fiscal deal erodes the American society’s social fabric: it delays actual response to and mischaracterizes the real crisis… 

Either we are talking about a debt and a fiscal problem or we are talking about a deeper fundamental problem with the economy in the United States; and I believe it is in the latter. 

I think the real problems are those of poverty, those of social injustice and other issues that are not addressed by any so-called ‘Fiscal Cliff,’ which itself is a manufactured problem, kicking the can down the road and not terribly far. 

What we are looking at is another fight shaping up for about eight to ten weeks from now, in which we are going to see the cuts that we did not see in this deal. ─ Founder of Stopimperialism.com, Eric Draitser, in Press TV interview

T

his is some of Max Keiser’s scathing appraisal of the Obama government’s performance and its impact on the people of the United States and beyond.

Central Banks

Deep disparity fails society

Central banks like the Federal Reserve or the ECB or the Bank of Japan or Bank of England have all coordinated their activities ─ they collude which is anti-competitive ─ to keep interest rates near zero percent. At the same time, they have off-balance-sheet accounts, what they call the shadow banking system which is now around the world.

Interest rates will rise, setting off a chain reaction of global fiat currency collapse.… This is why the very rich in America are buying assets like fine art, like gold and silver, like diamonds, precious metals because they know that ultimately the hyperinflation is coming. The currency collapse is coming because of the catastrophe that they engineered. They rule the world.

Deep disparity

W

e have to return to feudalism to find something similar ─ the incredible disparity between the top and everybody else in the economy. It is neo-feudalism and it is being engineered by people around the world and we see the results today.

Poverty is skyrocketing. Food stamp use is skyrocketing.

JP Morgan is involved not only in shadow banking with the Federal Reserve Bank in Washington and in Wall Street; but they are also the biggest purveyor of food stamps in America.

People in America are having their purchasing power completely decimated by JP Morgan’s loans and shadow banking and money printing have to go to JP Morgan and they get their food stamps processed.

Deep disparity, manufactured disparity

His Excellency presides over bottomless pit

The United States needs better metaphors than fiscal cliff, Keiser says, “It is more like a bottomless pit, a bottomless pit of debt whose numbers keep rising because there is no fiscal responsibility.”

If you are Obama’s “friend,”  “he gives you a big wet kiss and free tax reductions. If you are not his friend, you get to “stand in the food line and or a soup kitchen and pound sand because he is not interested.

“… The country is diving, sliding into this bottomless pit of debt and of course the one thing that they will not cut − the biggest expense ─ is the Pentagon…

… When America takes on more debt than they are able to collect in taxes, the difference is paid for and financed by China [and] as long as China finances America, America can continue to pretend as if they can spend more than they take in by an incredible percentage ─ one of the worst ever in the G20 countries, and in the history of G20 countries.

“…As soon as Japan and China start not a currency war but a shooting war… we are going to see currency collapse. The U.S. dollar will collapse because China will not finance it anymore. That is the risk that we are talking about, the risk that Obama does not tell his population.”

Tent City

Unconscionable lack of leadership

“

As an American,” Keiser says, “it is embarrassing to have a president who is such a coward, who will not talk to his people honestly about the true risks of his recklessness and his lack of leadership and who is really working for vested interests of Wall Street, the entertainment industry and the military contractors.”

The president must “Grow up! Keiser says, “Talk to the people as human beings and employ “a coherent foreign policy” instead of being “so quick to bomb people with drones.”

Sources and notes

“U.S. currency will collapse in 2013: Max Keiser” (Interview with Max Keiser), January 3, 2013, http://www.presstv.com/detail/2013/01/03/281581/us-fiscal-cliff-bottomless-pit-of-debt/

 Max Keiser 

American broadcast journalist and film-maker Timothy Maxwell (Max) Keiser was born (January 23, 1960) in New Rochelle, New York (USA) and lives in London, England (UK). He studied at New York University. Keiser invented ‘Virtual Specialist Technology,’ a software system used by the Hollywood Stock Exchange. His broadcast credits include:

“People and Power”: Keiser produced 10 short documentary films covering aspects of financial markets for Al Jazeera’s series People and Power. The films include Rigged Markets; Money Geyser; Death of the Dollar; Peaked; Extraordinary Antics; Savers vs. Speculators; Banking On It; Private Finance or Public Swindle?; and Focus on Locusts.

“The Oracle with Max Keiser”: A pilot episode was produced for Al-Jazeera English titled The Oracle. The show was developed into a series for BBC World News. Intended to be a humorous take on financial news before it happens, the program explored financial current affairs from the perspective of prediction markets. It ran for 10 episodes in 2009.

“On The Edge”: A weekly half-hour financial commentary show that started in 2009 and is broadcast on Press TV, featuring interviews with well-known alternative economists.

“The Keiser Report”: Since September 2009 on the RT network, Keiser has hosted The (30-minute) Keiser Report with financial news and analysis. The program is produced three times a week.

Keiser bio: http://en.wikipedia.org/wiki/Max_Keiser

G20

The Group of Twenty Finance Ministers and Central Bank Governors (also known as the G-20, G20, and Group of Twenty) is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank. http://en.wikipedia.org/wiki/G-20_major_economies

G20 members represent almost:

1. 90% of global GDP.

2. 80% of international global-trade.

3. 2/3 of the world's population lives in G20 member countries.

4. 84% of all fossil fuel emissions are produced by G20 countries [1].

http://www.g20.org/docs/about/about_G20.html

1.   Federal Republic of Germany

2. Canada

3. The Kingdom of Saudi Arabia

4. Japan

5. The Republic of South Africa

6. The United Kingdom of Great Britain and Northern Ireland

7. The Italian Republic

8. The Russian Federation

9. The Federative Republic of Brazil

10. The Republic of Indonesia

11. The United Mexican States

12. The French Republic

13. The Republic of India

14. The Republic of Korea

15. The Republic of Turkey

16. The Argentine Republic

17. The Peoples Republic of China

18. The United States of America

19. The Commonwealth of Australia

20. European Union

G20 2013

The G20 is the leading international cooperation forum, focusing on the most important international economic and financial issues. Russia assumed the G20 presidency for the first time on December 1, 2012, and the G20 Leaders' Summit will be held in St. Petersburg on September 5-6, 2013

The official logo of Russia's G20 presidency contains the colors of the Russian flag and its graphic element an expression of "will, progress, transformation, a commitment to innovation, candor, and bold ideas - the values personified by the Group of Twenty. The combination of logo elements, with various shapes and colors coexisting harmoniously in one space is also a testament to a core idea behind the G20."

http://www.g20.org/docs/summit/summit_2013.html

“New fiscal deal erodes the American society’s social fabric: Analyst,” January 3, 2013,

http://www.presstv.ir/detail/2013/01/03/281584/new-fiscal-deal-to-erode-us-social-fabric/

Eric Draitser is founder of Stopimperialism.com from New York City

(?) Eric Draitser (at Linked in): English/Language Arts Teacher Greater New York City Area | Education Management Current: Teacher at NYC Department of Education: Brooklyn College, New School University, UC Santa Barbara Summary: I have spent the last three years working in high-needs, urban high schools in New York City. During this time, I have gained extensive knowledge...

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