Below is a transcript of the YouTube clip interview between Afshin Rattansi in Tehran and Max Keiser about the end of Wall Street:
Afshin: Well, joining me now on the phone is Max Keiser, the journalist and broadcaster live from Paris in France. Max Goldman and Morgan now subject to regulation. Isn't this what critics of their highly-geard dealing have been demanding for years?
Max: I'm not so sure, Afshin, I think this is a great way for them now to hide any close examination of their books, I think this is actually in the cards from the beginning. Because as you know Morgan and, ah JP Morgan and Goldman Sachs have been involved in a tremendous amount of, let's call it, euphamistically, money laundering over the years, and now by becoming a commercial bank, I believe that this is ah, going to insulate themselves from any real close examination because they're going to be behind the firewall, behind Hank Paulson's firewall. You know Hank Paulson has effectively hijacked, the US financial system, he's no different then the 9/11 hijackers as far as I'm concerned. He's a financial terrorist and he's taking the US banking system to the edge of the abyss — all for the benefit of the shareholders and his cronies at Goldman and JP Morgan, the US taxpayer, the US citizen unfortunately is going to get the short end of the stick.
Afshin: But doesn't the new regulatory provision because there will now be holding companies mean that we can expect loads of SEC, US Treasury official all flying around the world to Morgan Stanley and Goldman Sachs' offices checking all the records, interviewing the staff, checking on probity?
Max: Yes, but at the same time, this cout-de-tat has taken place and given Hank Paulson dictatorial powers to determine what is in fact information that should be disclosed or not disclosed, combine that with Bush's dictatorial powers to decalre a state of emergency at the drop of hat, I don't think any of this information is going to see the light of day. It's just like, you remember, building 7 on 9/11 is where they had all thos Enron records and those twin towers collapsing was kind of a cover to keep those records from being examined. These guys will stop at nothing to keep their dirty laundry a secret. So it's just par for the course.
Afshin: Even all the auditing companies that now, ah these banks, well, will have to be scrutinized by federal law?
Max: What auditing companies? The ones that have been discredited for the last ten years and have gone out of business like Auther Anderson who was auditing Enron, for example? The auditing companies, the rating agencies, the treasury department the federal reserve bank, this is a criminal syndicate, they should be investigated under RICO. These guys are wholesale theiving of trillions of dollars. The rest of the world will fortunately, wake up to the fact that they should probably get out of the US dollar, because that's the only teather between the rest of the world and this criminal syndicate on Wall Street headed up by Hank Paulson. So once they figure that out, the dollar goes into permanent decline, and the rest of the world will escape this nightmare of US banking, ah you know, Hank Paulson has become kind of like a Colonel Kurtz character, he's gone insane, nobody can stop him; they need to send like a Martin Sheen guy up the river to find him and take him out because he's taking the entire US economy into oblivion.
Afshin: At the very least will they at least have to pay more tax because after so many years people have been saying that Goldman partners when it was a partnership, they paid very little tax.
Max: [Laughs] What, are they going to be extradited from some low tax country with a non-extradition agreement? They're not going to stick around in the US when the Americans are going to have their pitchforks ready to go and take back their country? They're not going to stick around for that, that's for somebody else to do.
Afshin: Will the poor of America now be able to open current accounts, you know grandmothers with ten dollars to spare at Goldman Sachs branch?
Max: [Lauhgs] Afshin, ah, I don't think you're getting the full picture here. In order to bail out these crooks the Treasury and the Federal Reserve will flood the economy with trillions of dollars which will take the value of the dollar down to zero. Sure you can open an account at Goldman Sachs with your 100 dollar retirement fund, unfortunately that 100 dollars won't buy you toilet paper. Toilet paper is going to be, you know, this is more valuable than the US dollar in a few weeks time; a hundred dollars a sheet. This is a hundred dollars [holds up toilet paper] I can make a hundred dollars all I want right here, here's a thousand tollars, heres 5000 dollars, here's a million dollars. It's all going to complete zero, its like the Weimar Republic, they'll say you can have all the money you want. You want another stimulus package? Here'another 500 billion dollars, it doesn't make any difference, its all worthless.
Afshin: How did they pick the 700 billion dollar figure anyway because there was some estimates of 1.3 trillion and then there was 500, where are they getting their numbers from?
Max: The 700 billion dollars is an arbitrary sum, and its not the extent to which they can launder this money, it just means that they can't go exceed that level at any given moment in their laundering scheme. Let me tell you how it works: in other words, they've got their 700 billion dollar slush fund; they can buy a mortgage for 50 cents on the dollar to help out their banking buddies and then they can resell it for some other chump for 20 cents on the dollar — book a loss — for the American public take it off the 700 billion dollar slush fund and repeat the process over and over again. And they can keep the circular motion of this money laudering scheme, multi-national ponzi scheme going, but now its like a controlled demolition, not unlike 9/11 which was a controlled demolition.
This is a controlled demolition of the US banking system. Hank Paulson has become the arsonist and pyromaniac-in-chief. His job is to floor-by-floor take the US banking system down, take the US dollar down to its absolute zero, and do so withoug upsetting his chinese masters and his middle eastern masters. He's a tyrant. Under the Constitution, Hank Paulson qualifies as a tyrant and should be taken up on charges under the Constitution, that's a constitutional obligation of every American to get Hank Paulson into a court of law as a tyrant.
Afshin: You're talking about a question of timing, by the way building 7 is a bit more controversial, we'll have to save that for another time, but as to timing, as long as the Chinese don't withdraw their dollars does that mean the could just stave off a real systemic economic collapse in the United States until after the election?
Max: I think that the word from China is that they were going to start dumping US dollars. This is what triggered the bailout of Fannie Mae and Freddie Mac because as you recall the Chinese bond-holders were made whole, the American shareholders got nothing. Interestingly enough Afshin, Lehman Brothers was allowed to fail and Lehman Brothers of course had a few hundred billion worth of bonds with Chavez, Hugo Chavez in Venesuala. So America was saying to Hugo Chavez of Venesuala vis-a-vis Lehman Brothers, we're not going to bail you out, but we'll be happy to bail the Chinese out. Of course the US shareholders get nothing, as long as they keep consuming, that's their only job in their country is to consume themselves until they can't consume any more....
Afshin: Max Keiser, journalist and broadcaster, funny you mentioned Venezuala I think that's our next story, how the Venesualen connection [unintelligable] Lehman Brothers [unintelligable] war ships are on their way from Russia. Thank you very much Max Keiser.
