Max interviews Karl Denninger from market-ticker.org. He talks about the finical crisis in Greece and how it will unfold in near future. Karl Denninger was the CEO of MCSNet in Chicago, one of the area's first Internet providers. He is a founding contributor to conservative blog market-ticker.org and was one of the early members of the Tea Party movement.
26 May 2012
The FBI was rather public with its recent demands for backdoor access to websites and Internet services across the board, but as the agency awaits those secret surveillance powers, they're working on their own end to have those e-spy capabilities.
Not much has been revealed about one of the Federal Bureau of Investigation’s newest projects, the Domestic Communications Assistance Center, and the FBI will probably try to keep it that way. Despite attempting to keep the DCAC largely under wraps, an investigation spearheaded by Cnet’s Declan McCullagh is quickly collecting details about the agency’s latest endeavor.
Governmental agencies have been searching seemingly without end for ways to pry into the personal communications of computer users in America. Congressional approval and cooperation from Internet companies could be an eternity away, of course, but the FBI might be able to bypass that entirely by taking the matter into their own hands. At the Quantico, Virginia headquarters of the DCAC, federal workers are believed to be already hard at work on projects that will put FBI spies into the Internet, snooping on unsuspecting American’s Skype calls, instant messages and everything else carried out with a mouse and keyboard.
By Jim Willie,
-the Treasury Bond market is defying gravity, highly unstable like a great tower to reach the sky
-the 0% interest rate in the face of annual $1.5 trillion deficits represents a great contradiction
-the glue to hold it together includes clearly the USFed debt monetization, hyper monetary inflation
-the hidden tool keeping the USBond tower upright, preventing its fall, is the Interest Rate Swap derivative
-a chronology is provided to explain the Interest Rate Swap heavy usage, not a flight to safety after all
-the IRSwap contracts were used by $8 trillion in late 2010, which routinely produce artificial USTBond demand
-the USFed is stuck at 0% forever, and thus is forced to defend and support an ever higher USTBond tower
-JPMorgan recently opened the door for better view of its losses, based admittedly on Interest Rate Swaps
-the JPM losses will reach toward $100 billion in the next year, all in time
-a chain reaction has been triggered which assures much greater losses, probably the toppling of USTBonds
-the response will be a massive flood into GOLD
By Kate Katharina Ferguson: Urban researchers in Berlin are exploring an eerie phenomenon -- the modern ghost town. From a deserted Cypriot holiday resort to a brand new Chinese city devoid of inhabitants, they are asking why people abandon their communities and exploring the stories that make these empty places so compelling.
Hashima is just one example of a number of modern "ghost towns" around the world that has drawn the attention of urban researchers, who opened an exhibition on the topic on Thursday in the German capital of Berlin.
The Japanese island of Hashima was once among the most densely populated areas in the world. But with the decline of the coal industry, the island was deserted in the 1970s. Now history enthusiasts like to explore it in hopes of discovering remnants of the mining town it once was. The desolate ruins of the settlement also inspire filmmakers to replicate the haunting setting in their movies.
Montreal Mayhem: 700 People Arrested on Wednesday Night Alone as 'Protests grow beyond just student issue'
The Situation in Greece goes from bad to worse. "people daily leaving their children at the doors of the orthodox church with notes hung around their neck saying please take them we can no longer afford to feed them." "Either a terrible revolution or unprepared expulsion"
Submitted by Tyler Durden: The dream of virtually anyone who has ever traded even one share of stock has always been to generate above market returns, also known as alpha, preferably in a long-term horizon. Why? Because those who manage to return 30%, 20% even 10% above the S&P over the long run, become, all else equal (expert networks and collocated flow-frontrunning HFT boxes aside), legendary investors in the eyes of the general public, which brings the ancillary benefits of fame and fortune (usually in the form of 2 and 20). This is the ultimate goal of everyone who works on Wall Street. Yet, ironically, what most don't realize, is that these returns, or Returns On Investment (ROI), are absolutely meaningless when put side by side next to something few think about when considering investment returns.
Because it is the ROIs for various forms of lobbying the put the compounded long-term returns of the market to absolute shame. As the following infographic demonstrates, ROIs on various lobbying efforts range from a whopping 5,900% (oil subsidies) to a gargantuan 77,500% (pharmaceuticals).
How are these mingboggling returns possible? Simple - because they appeal to the weakest link: the most corrupt, bribable, and infinitely greedy unit of modern society known as 'the politician'.
"ECB Will be Insolvent and Costs May Exceed 1 Trillion Euros" Says IIF Director; If the ECB Prints, Would Germany Exit the Euro?
According to IIF director Charles Dallara in a Bloomberg interview, "ECB will be insolvent if Greece were to exit the euro. Europe would have to first and foremost recapitalize its central bank." Excuse me for asking but how would they attempt to do that? Print Euros?
Please consider Dallara Says Greek Euro Exit May Exceed 1 Trillion Euros
Please consider Dallara Says Greek Euro Exit May Exceed 1 Trillion Euros
The cost of Greece exiting the euro would be unmanageable and probably exceed the 1 trillion euros ($1.25 trillion) previously estimated by the Institute of International Finance, the group’s managing director said.
The Washington-based IIF’s projection from earlier this year is “a bit dated now” and “probably on the low side,” Charles Dallara said in an interview in Rome today. “Those who think that Europe, and more broadly the global economy, are really prepared for a Greek exit should think again.”
Submitted by John Aziz of Azizonomics
Keynesianism & Eugenics
The theory of output as a whole, which is what The General Theory of Employment, Interest and Money purports to provide, is much more easily adapted to the conditions of a totalitarian state.
John Maynard Keynes
In looking at and assessing the economic paradigm of John Maynard Keynes — a man himself fixated on aggregates — we must look at the aggregate of his thought, and the aggregate of his ideology.
Keynes was not just an economist. Between 1937 and 1944 he served as the head of the Eugenics Society and once called eugenics ”the most important, significant and, I would add, genuine branch of sociology which exists.” And Keynes, we should add, understood that economics was a branch of sociology. So let’s be clear: Keynes thought eugenics was more important, more significant, and more genuine than economics.
Eugenics — or the control of reproduction — is a very old idea.
In The Republic, Plato advocated that the state should covertly control human reproduction:
You have in your house hunting-dogs and a number of pedigree cocks. Do not some prove better than the rest? Do you then breed from all indiscriminately, or are you careful to breed from the best?