In this episode Max Keiser and co-host, Stacy Herbert, present a New Year's special featuring outrageous predictions, bloopers and Berlusconi's 2012 Bunga Bunga Guide to finance. They look back to some 2010 predictions that came true in 2011 and look at the future of European bank runs, rising US treasury yields and the Jim Rogers - Marc Faber Chinese showdown. KR on FB: www.facebook.com
www.FinancialSurvivalNetwork.com presents Danielle Park, proprietress of www.JugglingDynamite.com joined FSN today for another far-ranging discussion of what's wrong with the global financial system. It seems not a lot has changed since the Great Depression, and the lessons which were learned during that debacle were slowly forgotten. As a result, limitations on banking activity and financial instruments gradually gave way to a climate of cowboy, crony capitalism. The banks, while receiving extremely generous privileges from the government were able to avoid all limitations on their behavior and business practices. After the passage of Glass-Steagall, commercial banks were prohibited from engaging in risky banking activity. They weren't allowed to expand to other states and could only engage in sound lending. Throughout the years, that all changed and eventually the banks became the masters of their own destiny, as well as everyone else's. Yet again, we now see how this science experiment has wound up. It's time to restructure the entire financial industry, get rid of the zombie banks, and the performance of basic function of capital allocation and character based lending. Go to http for the latest info on the Economy, Markets and Precious Metals.
dreamerletter.blogspot.com www.blogtalkradio.com Bob Chapman will be live with me to tackle the latest issues on the economy and other events that faces the world. He was born in Boston, MA and attended Northeastern University majoring in business management. He spent three years in the US Army Counterintelligence, mostly in Europe. He speaks German and French and is conversant in Spanish. He lived in Europe for six years, off and on, three years in Africa, a year in Canada and a year in the Bahamas. Mr. Chapman became a stockbroker in 1960 and retired in 1988. For 18 of those years he owned his own brokerage firm. He was probably the largest gold and silver stockbroker in the world during that period. When he retired he had over 6000 clients. From 1962 through 1976 he specialized in South African gold shares. He and his family lived in Salisbury, Rhodesia (now Harare, Zimbabwe) and Johannesburg, South Africa from 1970 to 1973. During that time he did a great deal of further study into the South African mining industry. Mr. Chapman belonged to The Traders Association for 25 years. He did all his own trading. During his South African years some was done directly through Johannesburg, but 95% was done through London brokerage firms. Hence, he has extensive contacts, both in London and on the Continent. Starting in 1967 Mr. Chapman began writing articles on business, finance, economics and politics having been printed and reprinted over the years in over 200 publications. He ...
For the latest Warren Buffett, go to WarrenBuffettNews.com - Buffett doesn't care whether something is large-cap, small-cap, micro-cap, or whatever. What is more important is whether it is a good business and whether he can understand it. On balance, large cap businesses have done much better recently than anyone would have ever dreamed of. This has led to much higher valuations. Whether this is a permanent development is another question. There has been enormous securitizations of debt in the real estate industry. It has been a bad idea to own real estate through a corporate structure because there is a double taxation problem. REITS have somewhat solved this problem, but it is still usually better to own the real estate yourself rather than to invest through a third party intermediary that is going to take a slice of the cake. There are a lot of silly valuations placed on real estate companies by people who don't understand the business whatsoever. They just don't understand how illiquid property like this really is, so you can't value it like you would a liquid stock. But Buffett and Munger understand real estate and would be open to opportunities that might present themselves.