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It goes back to "The Clinton Doctrine". The crafting of financial intruments into weapons of extortion and intimidation. (crafted by a overexuberant and incompetent infants at the fall of the SSRs). Like all weapons; you just can"t get enough of them. What this did was to give countries like Germany and Japan (both having Insatiable ambitions for imperialism (or neo-colonizism) a new weapon to pursue their inherent ambitions (without having to maintain a standing army). The foundations of instability has its roots in Robert Rubin and the Clinton Doctrine.
o/ Max, here one for you. I lived in Maxwell Road as a child, funny that, hope your well. I wonder if we entered into WW3 how would that effect Wall Street and stock exchanges across the world?
So many dodgy high risk outcomes hhhmmm :-)
Chris Whalen, hmmm. Likes Jamie Dimon ~ thinks he's a good guy and believes that he's not committing fraud because he can commit fraud? Thank you, Max, for putting this apologist against the wall. However, I have a niggling feeling that Mr. Whalen, who is friends with fraudsters and writes books about fraud may jussst be closer to fraud than just that. I don't like him and won't be buying his book.
That's right cc. It's the circular reasoning at the top. The bankers blame the government & the laws. Government blames lawyers and bankers; lawyers blame bankers & govt. In this way everyone is covered and can claim complete innocence.
I.e. it isn't Jamie Dimon ALONE - as if American capitalism is curable by shooting the president (as anarchists did to McKinley back in the 19th century). It is an elaborate old-school network which is stronger in Britain than elsewhere. In Germany, Russia, France etc. the networks were cut by war & revolution. Now they merely copy Britain.
Is this guy for real?
I just heard him say (after saying Jamie Dimon is a great guy), that we can't be mad at the bankers because the problem is in Washington... they didn't enforce the law.
I see: I stole all this money but you didn't stop me ... so it's your fault. Got it.
Hi. I just watchedyou picking on Canadians high level of debt to income level. Yes we have high debt levels BUT we high net worth and that is why it is not a problem. Our real estate values do not fluctuate like u.s. values because our banking system has more control of our banks. Please show both sides of the debt-asset picture. Glen F. in Bancroft Ontario, CANADA.
"Fascism American Style..."
W he would have taken that further. Could be an amusing tangent, and might have even triggered a FASCCOIN.
N ice educational discussion; Chris and Max explain Puerto Rico's role as the 'Second Federal Reserve district'; starts at around 18:30.
I like watching Max's colloquialisms, played off against more 'proper' expressions that Chris uses.
" ;We would all be in a very bad place right now"?
WOULD be? What the...?
This was fun to listen to. But Max trying to convince a fellow banker, that Jamie Dimon is 100 percent responsible for his actions, is a noble but vain effort.
Threats to crash 'the system' since ever since Jekyll Island if not before else where in the world. The banking illusion of wealth 'fiat currency'. Ive lost all my didgits.
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