Dana Herbert: Max Keiser: "See Whitey Run"

Friday, March 27, 2009

Max Keiser: "See Whitey Run"

In 2005 Max Keiser predicted exactly what is happening now:

By the Max Keiser Chiefs

Mixed by The Herb Whisperer (listen here)

Whitey is doing a runner
Whitey is doing a runner
Whitey racked up 250 trillion dollars worth of debts
and now is trying to run away

Citigroup
JP Morgan
Bank of America
Credit Suisse First Boston
Goldman Sachs

There are 250 trillion dollars worth of derivative contracts
250 trillion dollars worth of IOUs
Now, planet earth itself
has a global GDP or output of just under 40 trillion
40 trillion goes into 250 trillion how many times?
This is a financial wave of bad IOU paper suddenly getting ready
to crash on to everyone's bank account

Refco, refco, refco, refco, refco, refco, refco, refco
I predict a riot
I predict a riot
I predict a riot
I predict a riot

We've been saying these banks are in the business
of tearing down society and the ecology
by issuing these highly toxic derivative products
because when it's revealed that the value is zero
and the markets seize up and are illiquid
you have to declare bankruptcy
and they're coming after you
because they sold off your mortgage
to some Chinese creditor
who thinks nothing of stringing you up
and beating you
You're going to ask me, 'Max why didn't you warn me about this?'
And I'll say

Refco, refco, refco, refco, refco, refco, refco, refco
Refco, refco, refco, refco, refco, refco, refco, refco
Refco, refco, refco
I predict a riot
I predict a riot
I predict a riot
I predict a riot
And if there's anybody left in here
Who doesn't want to be out there

It's obvious to see that this was coming
because you already had indications in the environment
If the collateral that is the basis for this 250 trillion dollar derivative market
is burning up in real time
you can't expect that piece of paper to have any collateral value
It's got to be marked down to zero