In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the PLUNDERBALL games in Europe and how the United Kingdom turned from Aspiration Nation to Asphyxiation Nation. They also talk about the ‘mega-caust’ of the financial markets in which those who worried about their gold being confiscated have now lost their bank deposits instead! In the second half of the show, Max Keiser talks to Mitch Feierstein about the implications to all bank depositors of the confiscation of some funds in Cyprus.
Banks have re-opened in Cyprus, allowing access to savings for the first time in almost two weeks. There’s little relief for cash-strapped citizens though, with severe restrictions imposed on how much money they can withdraw. The limits are set to prevent a bank run, making Cyprus the first Eurozone nation to introduce capital controls. For more on what’s going on RT talks to correspondent Tesa Arcilla who’s outside the bank in Nicosia.
The president of Iceland says that his nation will never forgive Gordon Brown after it was hit with financial sanctions. The President of Iceland has launched an extraordinary verbal attack on Gordon Brown on the fringes of the World Economic Forum in Davos.
Olafur Ragnar Grimsson, the country’s longest-serving president,said that his country would “never forget” its treatment during the financial crisis at the hands of the former British prime minister. During the financial crisis, following the collapse of Icelandic bank Icesave and Iceland’s refusal to refund UK deposits, Britain took the rare step of imposing financial sanctions on the country.
Mr Grimsson said: “The Gordon Brown government decided, to its eternal shame, to put the Icelandic government on a list of terrorist states and terrorist phenomena. We were there together with al Qaeda and the Taliban on that list. “We have not forgotten that in Iceland.”
“Gordon Brown will be long remembered in my country for centuries to come, long after he has been completely forgotten in Britain.”
After a tough night of wrangling, EU leaders have agreed to set up a new authority – tasked with keeping sinking banks afloat. And to do that, the new agency will be given access to Europe’s mammoth bailout funds – stocked in a large part by taxpayer money. This exact function was previously carried out by governments. But now, the EU can bailout a nation’s banks – without adding to the government’s debt levels – at least on the books.
It’s something that Germany strongly opposed, but was forced to relent on due to Spanish and Italian insistence. Nigel Farage, a member of the European Parliament and leader of the UK Independence Party, believes that it’s Germany who plays the deciding role in these talks.
Nigel Farage – UKIP leader – outlined why the bailout of Spanish banks will seriously aggravate the euro crisis. He rubbished the ‘success’ of the Spanish bailout, and accused Jose Manuel Barroso of a series of failed predictions for the economy.
“Indeed, every single prediction of yours, Mr Barroso, has been wrong, and dear old Herman Van Rompuy, well he’s done a runner hasn’t he. Because the last time he was here, he told us we had turned the corner, that the euro crisis was over and he hasn’t bothered to come back and see us.”
Dispelling myths that Europe ‘had turned a corner’, Farage warned of a ‘looming, impending disaster’. Speaking of a ‘total and utter failure’ he said that the crisis had reached such severity ‘you just couldn’t make it up
Speaking in Strasbourg 13 of June at the European Parliament