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Episode 474

July 23, 2013 11:30

Reuters / Shannon Stapleton

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In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the global counterfeiting schemes that Interpol failed to stop this past week: spoof trading high frequency algobots, brokers trafficking in bogus derivatives backed by delusional collateral, robosigning mortgage forgerers and fake Libor rate setting bankers. They also look at the interest rate swaps that sank Detroit, Harvard, Jefferson County, Alabama and Greece. In the second half, Max talks to Sandeep Jaitly of FeketeResearch.com, about gold backwardation, Flaming Jamie, a run on the gold markets and the fact that fiat can’t fail in fiat terms .  . . but it can in gold. Max also says that if Snowden can press one button and take down the US, then people should ask for delivery of physical gold.