A market is supposed to represent something i supposed to represent supply and demand thats kind of what prices are all about and thats what the wealth of nations the book written by. Adam smith adam smith is all d about you know its the enlightened thinking apply to economics that the invisible hand that is better than having the king tell you what the prices are that you the people can figure out their own prices just let all the people interact and the net result will be a better price for everything for everyone right yes a. Boat that doesnt exist anymore you have the kings now the princes the wall street titans and the private equity guys who dictate prices and to make it look you know for cosmetic purposes once they dictate a price lets say more a buffet says i need the price apple to be at 350. 00 a share then algorithmically you can fill in the trades phantom trades and wash trades to go. The 350. 00 to make it look like theres a market there is no more market they dont need to
Max kaiser this is the kaiser report you know weve been saying for a long time that the markets dont really exist that theyve been replaced with. Its hard to i mean i want to go into what theyve been replaced with the lets just say that they dont exist anymore how about that and then well go throw to stacey and then shes going to have some color on the stacy womacks here on kaiser report for the past 10 years we have been saying the markets are rigged they are not fair they are creating a cantillon effect they are creating moral hazard they are bailing out the very top you know 0. 01 percent of the population from their bad bets in their bad you know investments and indeed many you know some would say oh thats a Conspiracy Theory but now the guy who runs the Largest Hedge Fund in the world ray deleo has joined this side of the equation the way we look and analyze the markets he agrees with us and here again hes the most successful current Hedge Fund Manager in the world bridgewaters da
Investments and indeed many is you know some would say oh thats a Conspiracy Theory but now the guy who runs the Largest Hedge Fund in the world ray deleo has joined this side of the equation the way we look and analyze the markets he agrees with us and here again hes the most successful current Hedge Fund Manager in the world bridgewaters dahlias says Capital Markets are no longer free Central Bank Balance sheets will explode dahlia said that investors should favor stocks and gold over bonds and cash because the latter offer a negative rates of return and Central Banks will print more money see hes watched the show he knows about plucky he knows about what plucky does the Balance Sheet are so it raises saying there you know what weve been saying right so in a market there is a price in a market is supposed to represent something i supposed to represent supply and demand thats kind of what prices are all about and thats what the wealth of nations the book written by. Adam smith adam sm
But just in the context of this hearing, id like to point out that the board has been so far, from what ive heard, asking a lot of questions about identifying sort of superfluous elements of the Police Budget such that can be cut, particularly in the light of this budget deficit. And these are only symptoms of a much broader problem, and lets not forget that the Biggest Issue with the police is that this is an institution that directly targets black and brown people and that the time has concluded. Thank you for your comments. Next speaker, please. Hello. My name is ryan. I live in district 4. I urge for divestment of the sfpd. [indiscernible] and how education and Community Empowerment are how societies grow whereas reaction during punitive and literally oppresses people and holds bias for those struggling in so many areas in the city that needs massive homelessness, education, come full front. That is essentially all i have to say. Thank you. Thank you. Next speaker, please. Good aft
Committee clerk john carroll and Serena Williams your cell phones and other electronic devices. Your copies of any documents to be included should be submitted to the clerk. Items acted upon will appear on the november 19th board of agenda and mr. Chair, we received a letter from the office of supervisor brown to be excused from todays proceedings. Ok. Can we excuse supervisor brown out objection . Thank you. And mr. Clerk, please call item number one. Agenda item number one is an ordinance amending the health code to require the department of Public Health to maintain and operate at full capacity an adult residential facility with no fewer than 41 beds. I would like to welcome Carolyn Goosen to present. Thank you. As you know, the board passed legislation on the adult residential facility two weeks ago, codifying an agreement reached between our office, sieu101 and the Mayors Office to save the adult residential facility which is the only boarding care facility for severely mentally i