Episode 411

Max Keiser and Stacy Herbert note that the mainstream media mocks a jury in the UK dismissed for being too stupid to understand basic concepts of jury trial like ‘guilt beyond a reasonable doubt’. In fact, the same media takes financial regulators seriously when they say they can find no evidence of financial crime. They spot Gary Gensler, chairman of the Commodities Futures Trading Commission, on BBC News seemingly incapable of understanding that Libor rigging is ‘fraud’ and not merely a ‘fiction’ as he suggests. In the second half of the show, Max talks to renowned mathematician and monetary scientist Professor Antal Fekete about the gold basis - cash versus the nearest futures contract and why the cash price for gold never being reported is by design. They also discuss gold repatriation from Germany as a trial balloon, to see how much demand there is for cash gold and how it is that permanent backwardation means internal bleeding in the monetary system.