Hey you know back in 2008 when the had the Global Financial crisis and banks went under of Lehman Brothers bear stearns and some European Banks are going to go under that old like meetings all the weekend long and the policy was not to reform banks but to give them a bigger credit line 1020 times bigger at the time we said you know it intended 12 years so if theres going to happen but a lot bigger well here we are 12 years later in the face of just as you said. Its all unraveling again especially with European Banks because they are not the center of the empire they are not rome they are outside so they must suffer but before we get to that fin send story about the European Banks i want to say once again we find toilet paper roll is a precious commodity as lockdowns began apparently there are rush mad rush on toilet paper all over the western world and were seeing shortages of toilet paper again that was also something we protected. Right so here is the headline from wolf street dot co
81. 00 just a smidgen above the more 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1987 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right now i mean once a day and the connections are 1087 black monday the crash of that here is very important because the solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Team or their working group of finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but i. Bigger scale and then we have of course another major move down in 1909 we had a bomb crash more or less in
Those are your headlines. Oh hi im max keiser this is the kaiser report well lets talk about tea and crumpets and scones and London Bridge and the crowd. Stacy well max we are going to get into some details about the queen and compare her and the whole royal system to wall street of 1st i want to say you know anybody could essentially now live with the view say of London Bridge or tower bridge or you know right along the thames or see the Buckingham Palace or live in Buckingham Palace because theres Virtual Reality now last episode we spoke to bryan rama lee about that this episode were going to continue some of that conversation but one thing i want to say is we spent this past weekend in Virtual Reality at the magical crypto conference and it was quite amazing life for me because i spent quite a long time in there as my avatar what i realized is that i could roll out of bed and speak in front of a huge audience and it was no problem on my hair was perfect i felt you know present a ba
A negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79 set in march the last time before march that the index was below todays level was february of 1988 during the selloff that followed black monday in october 1987 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right i mean once again and the connections in 1907 black monday the crash of that here is very important because the solution then was to extend Bank Credit Facilities thats how. Greenspan Ronald Reagan and robert rubin the plunge Protection Team or the working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks
Street com they say hit from all sides European Bank stocks swoon to 1988 low leaks about Money Laundering a resurgent pandemic china risks exposure to turkeys financial crisis all in a negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79. 00 set in march the last time before march that the index was below todays level was february of 1988 during the sell off that followed black monday in october 1907 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right. I mean 1988 and the connections in 1907 black monday the crash of that year its very important and because the solution then was to extend Bank Credit Facilities thats how Alan Greenspan Ronald Reagan and robert rubin the plunge Protection Te