Bill Still’s Speech at Bromsgrove 2010 – “Goldman Sachs was leveraged 333 to 1” (12 to 1 is the legal limit)

21 comments on “Bill Still’s Speech at Bromsgrove 2010 – “Goldman Sachs was leveraged 333 to 1” (12 to 1 is the legal limit)
  1. MirrorMirror says:

    Great Speech .

    Any newbies here, should watch his other work :

    The Money Masters
    The Secret of Oz

  2. flicks says:

    Brilliant – bingo; nail on the head ! its why we all need to take out our money from all banks and buy silver/gold. All banks need to be totally shafted out of existence and a stake stabbed right through the fractional-fuck us all over-reserve banking bastards of all time . I want them kicked out of space time.

  3. jimmy chen says:

    great wideo. still don’t rike his view on PM backing the currency

  4. Daniel /Istanbul says:

    This guy is scary. OK, he wants to get rid fractional reserve banking but this guy is what Chris Hedges calls a christian fascist. Put this guy in power and blacks, “money-changers” and “terrorists” will soon be hanging from trees. He’s also a complete fantasist and delusional about how government controlled money could work. The money would not be accepted for international trade unless supported by a brutal empire and would result in lower living standards. But this wouldn’t matter at all to Mr. Clan Robes as he’s clearly a hysteric xenophobe and racist anyway. Like Andrew Jackson he may get rid of the central banking but he’ll also support ethnic cleansing. I can’t believe Max would promote this guy given Max’s usual over the top Christian bashing. Government power comes from its monopoly on violence and its ability to tax not from printing money.

  5. F. Beard says:

    Very good! Something we should all get behind, those two pillars:

    1) Government should NEVER borrow money.
    2) Government backed fractional reserve lending is theft.

  6. F. Beard says:

    This guy is scary. OK, he wants to get rid fractional reserve banking but this guy is what Chris Hedges calls a christian fascist. Put this guy in power and blacks, “money-changers” and “terrorists” will soon be hanging from trees. Daniel /Istanbul

    Bull shit and slander! 1) The Bible is 100% color-blind. Read it you dolt. 2) The Bible is against violence.

  7. blindman says:

    bill still has been the man for a long time.
    he taught me everything i didn’t know.

  8. Daniel /Istanbul says:

    I didn’t say anything against the bible just Bill Still and what Chris Hedges describes his type as. The bible is a holy book its has never hanged anybody from a tree or scapegoated a particular community but people do and that’s what I’m afraid of.

  9. Glenn McComber says:

    He had me until he mentioned that students at london school of economics were waking up. That is a well known fabian society org. and part of the whole problem. But maybe some of them got religion.

  10. Goldman-Sucks says:

    @Daniel /Istanbul
    What the hell are you rambling on about?! Absolute crap!

  11. Luke says:

    This guy is AWESOME!

  12. Tamir says:

    @Max,

    Thanks for posting this. Excellent.

  13. Jimbo says:

    “The Bible is against violence.”

    Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha…

    Who told you that? Was it a man in a dress?

    Also, there is nothing wrong with using credit as money. In a debt-based money system it does make sense to remove the “reserve requirement” (cash reserve ratio), but in conjunction with more regulation such as official valuations of reserves (bank loan books etc) and no bailouts.

  14. F. Beard says:

    Who told you that? Was it a man in a dress? Jimbo

    No, I read the Bible myself, something you apparently don’t. But if you are referring to the Conquest of Canaan, the Lord gave the inhabitants hundreds of years to repent from such practices as burning their children as sacrifices.

    The LORD tests the righteous and the wicked, and the one who loves violence His soul hates. Psalm 11:5

    Also, there is nothing wrong with using credit as money. Jimbo

    Only if there is nothing wrong with stealing purchasing power from all money holders including and especially the poor.

    In a debt-based money system it does make sense to remove the “reserve requirement” (cash reserve ratio), Jimbo

    The reserve requirement is a red-herring I agree.

    but in conjunction with more regulation such as official valuations of reserves (bank loan books etc) and no bailouts. Jimbo

    Ah, prudent theft! Can there be such a thing? Is God mocked?

  15. Jimbo says:

    Not violent? Deuteronomy 21:18-21

    How can you equate credit with “stealing purchasing power from all money holders” in a credit-based money system? The money holders own credit! Anyway, banning credit would be an enormous task and be totally incompatible with capitalism and freedom. You might want to force people to use official objects rather than free-market promises when they arrange to pick up each others’ kids from school on alternate days, but that’s probably because of your violent biblical upbringing.

    Is this how you see the world?: Person A declares “x and nothing else is money!” Persons B and C realise that y functions perfectly well as money so trade using y. Person A declares “because you are using something other than x as money you are artificially lessening the demand for x and hence its value. The wealth of those who own x has been reduced by your actions. That is technically theft and you should be punished.”

    If so, you should reconsider.

    Regulated banking is prudent theft? No! The people using the bank should have the right to know if they are being defrauded by false valuations of the assets which back their credit accounts.

    By the way, my god has just told me that you have 10 days to change your view of credit-based money or I’ll have to come and kill you (unfortunately it deems your view to be abhorrent). I expect you’ll be happy with this non-violent perfectly fair arrangement.

  16. F. Beard says:

    Not violent? Deuteronomy 21:18-21 Jimbo

    According to Jewish tradition, that law was never exercised. I imagine the threat was enough. Now read this (also written by Moses)

    ‘ You shall not take vengeance, nor bear any grudge against the sons of your people, but you shall love your neighbor as yourself; I am the LORD. Leviticus 19:18

    I could go on all day with sublime quotes from the Old Testament but do your own reading, please.

    How can you equate credit with “stealing purchasing power from all money holders” in a credit-based money system? Jimbo

    It’s easy. When an FR banks extends credit, the purchasing power for that new money is stolen from all existing money holders.

    The money holders own credit! Jimbo

    Irrelevant. Furthermore, many earned that credit money and did not borrow it themselves (and thus become thieves (along with the banks) who lent the new money to them).

    Anyway, banning credit would be an enormous task and be totally incompatible with capitalism and freedom. Jimbo

    I would not ban usury or fractional reserves. I would simply remove all government privilege for them.

    You might want to force people to use official objects rather than free-market promises when they arrange to pick up each others’ kids from school on alternate days, but that’s probably because of your violent biblical upbringing. Jimbo

    You’re talking out of your ass. The Lord is a libertarian (1 Samuel 8) and so am I.

    Is this how you see the world?: Person A declares “x and nothing else is money!” Persons B and C realise that y functions perfectly well as money so trade using y. Person A declares “because you are using something other than x as money you are artificially lessening the demand for x and hence its value. The wealth of those who own x has been reduced by your actions. That is technically theft and you should be punished.” Jimbo

    Yes, but that is how the FR bankers think, not me. I would allow anything to be used as private money. Paradoxically (to some) , that requires that government money be pure fiat so as to favor no private money form such as gold. However, government money should only be legal tender for government debts (taxes and fees) not private ones. Conversely, private monies should only be acceptable for private debts, not government ones.

    If so, you should reconsider. Jimbo

    I’ve done plenty of thinking on ethical money creation. I start with the basic assumption of “Thou shalt not steal” and go from there.

    Regulated banking is prudent theft? No! The people using the bank should have the right to know if they are being defrauded by false valuations of the assets which back their credit accounts. Jimbo

    When credit is extended in the government enforced money supply then it is theft by inflation. Let the banks use their own private money supplies for FR banking instead.

    By the way, my god has just told me that you have 10 days to change your view of credit-based money or I’ll have to come and kill you (unfortunately it deems your view to be abhorrent). ,/i> Jimbo

    My God is bigger than yours and made yours, assuming it exists.

    I expect you’ll be happy with this non-violent perfectly fair arrangement. Jimbo

    A good name is better than a good ointment, and the day of one’s death is better than the day of one’s birth. Ecclesiastes 7:1

  17. F. Beard says:

    typos above: The smiley face is “8” and I did not close off italics property at the 4th paragraph from the bottom.

  18. Jimbo says:

    “When an FR banks extends credit, the purchasing power for that new money is stolen from all existing money holders.”

    To believe that, you must have the worldview which you attributed to the bankers alone (they actually don’t have that worldview – they’re happy to denominate credit in any money you care to mention). If one form of money loses its value when people choose to use a different form of money then you just have to bear it. If you want to start from “don’t steal” then you have to know what stealing is not. If you think you’re a libertarian then you can’t stop people making free choices of what to use as money, so this “theft” is built into your ideology whichever way you come at it from, unless you realise there is no theft.

    Or maybe you’re confusing and combining credit and object-based money. The purchasing power actually comes from the “borrower” promising to do work to repay the debt; the promise becomes part of the reserve which backs the currency so the reserve is not actually fractional (but this must be validated by regulation). It is only the cash which is fractional, not the credit.

    Because money is necessarily a social phenomenon it is natural and right that society should make sure it is not being manipulated. Regulation does not imply government-privileged activity, it demonstrates the ownership of the money system by the society which that system serves.

    People who earn bank credit are paid interest, which they don’t earn.

    My god made yours. It’s written so it must be true. Your god did not make mine and he does not recognise his creator or his brother gods or any other god but himself. He’s the root of so much evil, worst tyrant in all of fiction.

  19. rich says:

    I know it’s already been mentioned but if you are not familiar with Bill Still his other works are extremely educational:

    The Money Masters
    The Secret of Oz

    Sometimes I don’t kow whether to thank Bill or not for waking me up…. but he was a voice in the wilderness which made sense out of the absolute chaos we are living in, and one think led to another, Ron Paul, Bob Chapman, Alex Jones, G Edgar Griffin, Eustace Mullins, Max Keiser and many others. But at the top of my list: Bill Still

  20. F. Beard says:

    Or maybe you’re confusing and combining credit and object-based money. Jimbo

    No, I am not. Commodity monies are silly. If used as a commodity then they are not money and vice versa.

    The purchasing power actually comes from the “borrower” promising to do work to repay the debt; the promise becomes part of the reserve which backs the currency so the reserve is not actually fractional (but this must be validated by regulation). It is only the cash which is fractional, not the credit. Jimbo

    Yes, I am familiar with how the counterfeiting cartel justifies credit creation. But the cartel cheats both borrowers and savers. It cheats borrowers by driving up prices and ratcheting up debt during the boom. During the bust, prices fall but not the debt!
    Savers are cheated by negative real interest rates.

    Because money is necessarily a social phenomenon it is natural and right that society should make sure it is not being manipulated. Regulation does not imply government-privileged activity, it demonstrates the ownership of the money system by the society which that system serves. Jimbo

    I agree wrt to government money; FRL should be forbidden in it. However, I would allow FRL with private monies with absolutely no government bailouts for anyone involved.

  21. Duck24 says:

    Great comment, Jimbo!
    I know that in one of the other threads here on maxkeiser.com, I praised F Beard for some generality that (s)he made. (Oh, what the hell, you just KNOW it’s a he.) And I stand by it. But, your comment about making a clear distinction between government doing good by preventing/outlawing the manipulation of money (as rarely as it does) versus the braindead libertarian rant “Government can’t do anything right! Anything government does MUST be wrong!” is absolutely right.