Thinkable of course this is the german eels and this is the u. S. 10 year yield and as you see since basically the European Union finally began quantitative easing in earnest they got into negative territory but i tell you whats remarkable is that you know we made a film like 10 years ago about the collapse of iceland we went to iceland about 6 months 9 months before it collapsed and predicted that it would collapse because it was a serious ponzi scheme where the banks were lending. To speculate and the result of that speculation in the Housing Market would be used as collateral at the bank to create more lending so it became a huge ponzi scheme force a collapse now people talk about these negative Interest Rates they think its the result of some policy by someone in doing some economic benolt benefit but they dont understand is that is the biggest bubble in history the sovereign bond bubble is by far the biggest ponzi scheme bubble its ever been created in the history of the world and
That means the price of the bond is a 3000 year highs thats stented this bubble is and how does it get there its because the banks are lending against the ponzi value of the bonds to leverage more buying of those ponzi extended bonds and of course like iceland if this will result in a 98 percent collapse. Never in the history of the world in 1971 did the human race ever engage in all fiats currency commerce trading settlements system i weve always had gold backed currency or other some other hard assets thats why nations went bankrupt all the time thats why many wars happened is because france would go bankrupt they would have no gold left or Something Like that so now we have just an infinite regress of ever referring to another contract or another fiats currency printed by something backed by we dont know what except for perhaps the mightiest army that is there are stocked and threaten the earth and thats what we have now so thats why they could go. They think they believe they could
A bit but another country would have dropped by considerably more the net result is now the goal of the globe is their debt to g. D. P. For planet earth is approaching 350 percent well some say that the Us Dollars Bank backed by oil so it always has been backed by something hard. It was liquid oil the other thing that were seeing however is as Michael Hudson dr Michael Hudson an economist who used to work at chase manhattan and when he wrote his ph d. He told us that you know he he told his bank and he told his professors that actually unlike what you say banks dont actually lend to businesses they lend for mortgages so our entire economy our time Financial System everything is backed by mortgages so were going to get to that because this is. Remember when during the french revolution we had the currency backed by a property of the confiscated Catholic Church properties so what do we have there but hyperinflation as people demanded the prices keep on going up right well here we have de
Hi there im max kaiser this is the kaiser report. A lot of people talk about ponzi scams but do people really know what a ponzi scheme is stacy well of course weve been talking about ponzi schemes because he cant taper a ponzi and that was attempted over the past year with quantitative tightening in Interest Rates rising obviously that has all fallen apart especially in europe where we have 15 trillion and negative yielding debt and went up by over 600000000000 and one day just in the past week and now i want to look at a headline about the unthinkable becoming thinkable of course its always been think about here in keizer report we always think outside the box but here in the Mainstream Media theyre saying could treasury yields ever fall into negative territory and vespers are wondering whether u. S. Treasury yields might follow the trend witnessed in germany or other sovereign markets and eventually fall into negative territory the unthinkable is now thinkable of course this is the g
Welcome to bloomberg daybreak the flagship morning show. Anna lets get to the details. A beat in terms of the First Quarter net profit coming in at 1. 27 swiss francs. A comfortable beat for ubs. They are saying that wellplaced to benefit from any market improvement, but they are saying they have yet to see a sustained increase in client activity. This is something they have been struggling with recently. The rich to amongst put their money to work him a political and economic uncertainty. Well talk more about that in a moment. Well bring you the interview with the ceo coming at 6 45 u. K. Time. Manus cranny is on the ground ready for that. From zodiac this is a supplier in the Aerospace Sector in france. They are the subjects of a takeover offer. Theyre putting out numbers this morning. Talks continue with the view to completion. Yesterday we saw the stock fall as much as six and a half a report thating zodiac will refuse to be bought unless saffron makes a serious offer. Some fundurv