Music wholly or predominantly characterised by the emission of a succession of repetitive beats!

 

A derivative is a price based on a reference of something that exist theoretically only under certain conditions, and that derivation is traded on an exchange around other contracts tied to speculation that is funded with money that is of zero interest rate. If I’m a speculator the cost of my interest is zero, if I’m a saver the interest on my savings is zero. So you’ve got a society ripped in half, savers, workers, the backbone of capitalism, getting finically degraded to benefit the speculators who have infinite credit at zero percent interest rate. And I ask myself is it possible to have capitalism without capital? And the answer is both yes and no, depending on who you speak with. For some, like the editorial pages of the New York Times it’s possible, for others, like those who are blowing their brains out in Athens it doesn’t work so well. Where is this going? It’s heading toward more austerity, and that austerity is completely unjustified. But the answers cannot be, simply, more money printing. I leave you with this idea, and I hope you embrace it, that until those bankers at the centre of this crisis are prosecuted and put in jail, or perhaps we should consider capital punishment for crimes against capital, after all in this country we do have the death penalty, why not us it. Until these justices are made right there will be no rectification of this enormous finical terrorist vacuum.

Five minutes of Max Keiser in Los Angeles

It was open mic at the Last Bookstore in Los Angeles and with about two minutes of preparation Max broke off with some amazing economic beat poetry. Alexanderschaefer(dot)blogspot(dot)com

http://www.youtube.com/watch?v=QEJRIE8c_lI

Quantitative prop trader: 'I wouldn't try to raise the price of rice and starve China'

“We play with money, ha-ha, that’s the short version of what I do. No. People like me buy and sell financial products on markets or over the counter [directly between parties]. There are two kinds of traders in banks. Market-makers use their client’s money to make money for those clients, taking a commission. Then there are prop traders like me. We use cash given to us by the bank to make money for the bank.

“Prop traders have freedom because there’s no client telling us what to do. On the other hand we have more responsibility because it’s not the client’s money but our own money, as a bank. Banks don’t like to advertise this, but prop traders like me are quite profitable in terms of income generated per head. This is very useful for banks in times like these.

Keiser Report: Debts & Slavery (E193)

Max interviews Satyajit Das, author of ‘Extreme Money: The Masters of the Universe and the Cult of Risk’, about the financialization of our economy by Wall Street and The City Of London.

A great discussion on the origins and history of how the global economy got into this derivative induced mess.

If you want to know about derivatives then this is a good introduction.