Sunday, July 01, 2012

Max Keiser On LIBOR

3 comments:

John Powers said...

I tend to pay attention to the wrong things. Whenever I see Max Keiser I marvel at that blank look he makes that says WTF?? better than anyone. Michael Krieger pushes back against Keiser's suggestion that complacency in American public opinion results from fear, no it's Disneyland, he says. A very basic question is: What does it mean to wake up to what's going on. I don't have a good answer to it.

phil jones said...

Yeah, Keiser has quite an impressive facial / body language to go with the wonderful ranting. Stacy too. They're very entertaining.

I very firmly believe that the problem we have is not "waking up" in the sense that many people know there's something wrong. The problem is that the whole of our society "affords" doing the wrong thing and there are few opportunities to do the right thing.

Most people know that bankers behave badly and have the will do do something about it. They just don't have levers to pull

John Powers said...

"The problem is that the whole of our society "affords" doing the wrong thing and there are few opportunities to do the right thing."

Phil, you're especially perceptive and have a talent for saying things clearly.

Of the many alternative currency experiments Argentina's RGT barter network is perhaps the most interesting to me; that's including the failure which resulted from counterfeiting. In the 1990's it provided a platform for opportunities "to do the right thing." And that, more than as a currency experiment, seems worth more attention than it gets.