The following statements are from a former Wall Street stock broker, now self-exiled in Europe, Timothy Maxwell “Max” Keiser:
“Money is being printed but it does not flow to wages or savings and pensions. It flows to asset price inflation and to bonuses for corrupt bankers.”
“The economy runs on financial engineering now, and currency speculation financed by ultra-low rates, near zero percent interest rates and the economy is not run on manufacturing.”
“When you pay out a hundred and forty billion dollars in bonuses, as they do on Wall Street or at the various banks in Europe, that is just a tip of a multi-hundred billion, multi-trillion dollar money laundering scam….the Central Banks lend money out to these banks at 1% percent; they in turn reinvest it with the Central Bank at 3%. So they make 2% carry, it’s a carry trade to do absolutely nothing! They are not incentivized to put the money to work in the economy. They are making free 2% on their cash, or more…”
“….there is no regulatory authority of any note; there is no deterrent to committing financial fraud…JP Morgan has been caught stealing from its customers….It is now not refuted, fully documented; there is no investigation.”
“Who pays for that? Everybody else through austerity measures. So you very much have feudalism, is alive and well. You have got a few feudal lords like the bankers in Europe and on Wall Street and everyone else is basically an indentured servant! There’s over a trillion dollars in bad student loans in America! That is the next bubble to pop! That is another huge wave of youths about to be thrown into the streets with trillion dollars of debts and told go to a concentration camp and die you pig; we don’t care about you!”
“The biggest gross industry in America is the prison industry! Why is that? It’s the only growing industry in America is the prison industry! That’s the most profitable industry and the bankers are aiding and abating the entrapment of folks with forcing debt down their throats and forcing them to go to prison, and that is the economy!“