There is No Such Thing as a 'Naked Credit Default Swap'

There is no such thing as a 'naked credit default swap.' Trading something that has no cost basis whatsoever to another party who can't and won't take delivery of an imaginary financial fiction does not constitute a bona fide transaction. Buying and selling avatars on Second Life using virtual money has more economic legitimacy.

This is outright fraud meant only to generate fees for Wall St. But to question this fraud is to question America's enslavement to 'market fundamentalism' and the belief that 'the market' is omniscient and infallible and that Goldman Sachs is God.

Speaking of Goldman Sachs, in case you missed it, here's my debate on France24 last week unmasking Goldman's rogue practices. This video on YouTube has over 130,000 views in less than a week so clearly there is some interest in my point of view, but you will never hear me interviewed on corporate controlled American TV.

Follow Max Keiser on Twitter: www.twitter.com/maxkeiser

Comments

[MatCha]

You can follow Max and Stacey over at MaxKieser.Com, where they have regular podcasts "from" london and christchurch, that are as interesting and informative. There are lots of other "alternative" economic commentators, many of which are on the show (on the edge). Most of these in the alternative camp have an Austrian point of view. You can learn more about this non-Kensian point of view over that the von Mises institute. Check it out!

[MetalCanuck]

This guy should be on all networks. Too bad you have to watch Iran TV to see him or have the net.

[gonzomarx]

About time we heard a voice that isn't bought or owned we need more, we need some truth about markets.

[condieshoes]

Max, I just discovered you about a month ago. Thank God you are around. Love your interviews with people who are not paid by wall street to sit there and lie to each other.

[BailUsOut]

Listen to what it's like to hear an expert in the field who speaks the plain truth with heart

maxkeiser.com
and
@
http://www.youtube.com/user/MaxKeiserTV

[000Jade000]

"This video on YouTube has over 130,000 views in less than a week so clearly there is some interest in my point of view, but you will never hear me interviewed on corporate controlled American TV."

Arianna Huffington: how about you do us all a favor and grant Max an interview?!

[GJMandinka]

Always great to hear from you, Max!

[BeenieMon]

FINALLY!!!

HUFFPOST SHOWCASES THIS MAGNIFICENT PIECE OF VIDEO AND TRUTH

WHEN IT COMES TO ECONOMICS.......MAX KEISER = GOD