Mirrors on Mirrors: Max Keiser interviews Michael Hudson

This is a great, MUST-SEE video with Max interviewing Michael Hudson.

Michael and Max discuss "fictitious capital" (idea that debts can be paid when collateral is valued at a price that is way out of line with reality), false economic reporting, fraudulent capital, market-to-model accounting, pensions, the shadow banking system, inflation and deflation, consumer prices vs. asset prices, Bernanke, banking scandals, financial crime, loans on fake collateral, Obama's administration's sell out to criminals, the US dollar, risk, interest rates, negative return instruments. 

Michael: "If you introduce realism and stop the fiction, the whole system will collapse because there's an enormous claim for debt that can't be paid; and so the gov't and the banks are actually saying that this is a wonderful opportunity… As long as we can make the public believe that they can pay the debts, we can break the labor unions, increase taxes on consumers,… we can use this crisis as an opportunity to put the class war back in business, and we can indebt the bottom 99% to the wealthiest 1%…" 

Max Keiser: fictitious capital with Michael Hudson

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