In a presentation given to Erasmus University in Rotterdam on 26 September, Max Keiser totally lost it when talking about “financial terrorism.” The impassioned speech started with a student question. “You speak about your fraud that you committed as if it was nothing. I don’t know much about your personal life, but did you suffer any consequences from that?”
To a background of NXT and Keiser’s own BnkToTheFuture project (launched with Russell Brand), Keiser regaled students on the virtues of digital currency and the toxicity of traditional markets. However, at one point, seen below, things got shifty.
What followed could be considered a smoke screen tactic, since Keiser failed to answer the question adequately. While he would not be the first Wall Street trader to have knowingly engaged in fraud and gotten away with it, he’s a highly visible one who has come to embrace alternative money like Bitcoin among other cryptocurrencies. Here’s some of his of his rant:
The former Attorney General of America said that Wall Street is beyond prosecution. We’ll never prosecute Wall Street. They can do whatever they want. They’ve legalized criminality. The fact that Clinton, he repealed Glass-Steagle, that was saying “I love fraud.” […] Wall Street is fraud. America is fraud. The world is fraud. Banks are fraud. Central banks are fraud. […] It’s all based on fraud. […] To suggest that there is any moral or ethical aspect to anything that’s going on now is to be completely naive about the fact that we live in an era dominated by financial terrorists. Terrorists. Terrorists. Terrorists. Jihadis of banking. They’re here to kill you and themselves. They don’t care because they’re trained at Madrassas called Princeton, Harvard, and Yale.
They believe in an ideology. Not the Koran. But Adam Smith, that they completely misread and interpret as something to justify them blowing themselves up. And the cost of terrorism is cheap! 9/11 only cost $500,000! […] He’s taking all the jobs away! And you want a way to stop it? There’s only one way to stop it! Raise the interest rates right now! Make the cost of terrorism too high! Do it today! If you don’t, you’re the f***ing terrorist!
Keiser’s passion was such that his microphone began to malfunction as a result of his pitch. The overarching point of the episode seemed to be that banks are engaging in financial terrorism and that the government makes this very easy for them to do. Low interest rates give them easy access to money with which they can, well, terrorize markets, make toxic loans, and generally engage in the sort of behavior which led to the financial crisis out of which Bitcoin was born.
Keiser did not, however, answer the question. Has he ever suffered personally as a result of his own “financial terrorism” back in the day? Likely not.