FORMER STOCK TRADER Max Keiser has arrived in Ireland, bringing his outspoken brand of economic forecasting to bear on our financial situation.
Keiser shot to fame several years ago with a series of accurate predictions about the economic crash. He foresaw the role sub-prime mortgages would have in the meltdown, as well as the the collapse of US lenders Fannie Mae and Freddie Mac, two of the biggest casualties of the crisis.
The broadcaster is speaking at the Kilkenomics festival in Kilkenny this weekend. Ahead of his appearance he gave TheJournal.ie his take on Ireland’s plight, including:
Here’s what he had to say on Nama:
Ireland has been victimised by financial terrorism. They are being pretty much held hostage. Hopefully they can extricate themselves – but a lot of times in these situations you get what’s called Stockholm syndrome, where the hostage falls in love with their captor, which in this case would be Nama. So there’s a lot of love for Nama, even though it’s essentially a terrorist organisation.
On the right way to bring rogue bankers to justice:
Seán FitzPatrick needs to be brought to justice. It is a travesty. He has committed acts of financial terrorism. In the US, the Patriot Act was brought in after 9/11 [to combat terrorism]. We have to expand the Patriot Act, and other financial statutes around the world, to cover financial terrorism. To cover Seán FitzPatrick, because clearly he qualifies. Ireland should recognise that they’ve been victimised by a terrorist attack, and need to respond accordingly.
On the reality of last week’s deal between EU leaders:
The figure that Greece had 50 per cent of their debts written off is a bogus headline. No debts have been written off. The debts across the Eurozone have been expanded by a trillion euro. They’ve created this EFSF fund, which according to the European president can be expanded using derivatives. So they’re just doing more accounting fraud. More shuffling of deckchairs on the Titanic. To call it a write-off is a misnomer, it’s propaganda.
On why Ireland needs ‘regime change’:
The IMF is extracting wealth from the Irish people, through weapons of mass financial destruction, as Warren Buffett calls them. If the government are not going to represent the interests of the people who elected them, then the people have to assume that they need to be replaced. A regime change is necessary.
So I would say to the Irish people, see what people did in Cairo, see what people did in Tunisia. They were intolerant of financial terrorism, they sought a regime change, and they got it. That’s what this Occupy movement round the world is all about – because people understand that only regime change is going to get them independence from banking terrorists.
On RTÉ and how Ireland needs to wise up:
Ireland should be smart about this. Not walk around with their head in the clouds believing anything that comes out of the mouth of the captured press in Ireland, like RTÉ. Which is a complete functionary of the banking establishment and has no independent view whatsoever.
On the imminent collapse of the euro:
The future of the global economy is a return to the gold standard. All of the banks, once they exhaust the markets’ capacity to absorb their fake money and this nightmarish, academically supported theoretical quagmire of nothing, we’re going to go back to the gold standard.
Forty-seven years is the average lifespan of a fiat currency [one not backed up by precious metals]. All fiat currencies are going to collapse, including the euro. So if people want to protect themselves against the inevitable collapse, they need to buy gold and silver aggressively.
On Iceland as a template:
Iceland had the balls to stand up to the bankers. And the country went through an economic downturn; now they’re coming out of it, but their sovereignty is intact. You suffer for two or three years, but you keep your independence. The alternative is you suffer slowly for 20 years, you end up in exactly the same place in terms of the economic downturn, but you’ve lost your independence.
So use Iceland as a template, if you want to be free and you want to be independent. If you want to be a debt slave, then follow a different path. It’s up to the Irish people. But they should understand that the choice is between debt slavery to foreign interests, and independence and freedom.
Max Keiser will appear at Kilkenomics today and tomorrow.
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