Michael Krieger

My name is Michael Krieger, and I am the creator and editor of Liberty Blitzkrieg. I'm originally from New York City.

As far as my academic and professional background, I attended college at Duke University where I earned a double major in Economics and Spanish. After completing my studies in 2000, I took a job at Lehman Brothers where I worked with the Oil analyst in the Equity Research Department.  In 2005, I joined Sanford C. Bernstein where I served as the Commodities Analyst on the trading floor. About halfway through my time there, I started to branch out and write opinions on bigger picture "macro" topics that no one else at the firm was covering. These opinion pieces were extremely popular throughout the global investment community, and I traveled around providing advice to some of the largest mutual funds, pension funds and hedge funds in the world.

I loved my job, but as time passed I started to educate myself about how the monetary and financial system functions and what I discovered disgusted me. I no longer felt satisfied working within the industry, and I resigned in January 2010.  At that point, I started a family investment office and continued to write macro pieces on economic, social and geopolitical topics. That summer, I drove cross country for six weeks and ultimately decided to leave the crowded streets of Manhattan for the open spaces of Boulder, Colorado, where I currently reside.

In the years that followed, I gradually recognized that my true passion centers upon writing on issues of significant societal importance given the extremely challenging times we live in. This realization culminated with me losing interest in financial markets and eventually launching this website in early 2012.

If you are interested in a more detailed description, replete with colorful anecdotes, of how I ended up making this bizarre professional transition, take the time to watch the video below.

https//www.youtube-nocookie.com/embed/DcqMN-FXCIE?rel=0

In Liberty,
Michael Krieger

Bilderberg 2015 – Where Criminals Mingle with Politicians

by

Screen Shot 2015-06-15 at 12.43.46 PM

Out at my car I couldn’t be bothered to get into the whole ‘probable cause’ thing so I flung open the doors and with as much good cheer as I could muster, said: “Help yourself”. They did. While one set of police searched my car with their torches, another lot clustered round me and asked me questions: “Where do you live? What are you doing here?” I’m a journalist and I live in a police state. What about you?

A little while later, bored and a bit cold, I decided to point out to the officers that while they were treating a journalist like a criminal, there were actual criminals about to arrive at the hotel they were guarding. Convicted criminals. Such as disgraced former CIA boss, David Petraeus, who’s just been handed a $100,000 (£64,000) fine and two years’ probation for leaking classified information.

I decided to reward their vigilance with a chat about HSBC. The chairman of the troubled banking giant, Douglas Flint, is a regular attendee at Bilderberg, and he’s heading here again this year, along with a member of the bank’s board of directors, Rona Fairhead. Perhaps most tellingly, Flint is finding room in his Mercedes for the bank’s busiest employee: its chief legal officer, Stuart Levey.

A Guardian editorial this week branded HSBC “a bank beyond shame” after it announced plans to cut 8,000 jobs in the UK, while at the same time threatening to shift its headquarters to Hong Kong. And having just been forced to pay £28m in fines to Swiss regulators investigating money-laundering claims. The big question, of course, is how will the chancellor of the exchequer, George Osborne, respond to all this? Easy – he’ll go along to a luxury Austrian hotel and hole up with three senior members of HSBC in private. For three days.

– From Charlie Skelton’s excellent article: Bilderberg 2015: Where Criminals Mingle with Ministers

Charlie Skelton is a Oxford University educated comedy writer, journalist, artist and actor who has covered the Bilderberg meeting for the Guardian since 2009. This year’s meeting took on a particularly eventful twist for Mr. Skelton, something he wrote about in a powerful article published last week.

Many of those who have descended upon Austria’s Interalpen-Hotel Tirol to report on the secretive meeting, have reported that police have been particularly aggressive and unhelpful at this year’s gathering. Charlie Skelton received a unique level of harassment, as his hotel room was raided in the middle of the night by Austria’s taxpayer funded, corporatist-protecting mercenary force, known as the POLIZEI.

Here are some excerpts from the piece:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Don’t Mess with Texas – Police Raid and Shutdown Lemonade Stand Run by 7 and 8-Year-Old Girls

by

Screen Shot 2015-06-12 at 12.31.03 PM

Don’t mess with Texas. Particularly if you happen to be a person who enjoys the freedom to purchase lemonade from two adorable little girls trying to raise money to buy their dad a Father’s Day gift. In that case, you better watch out. The cops are on the case, ever vigilant to protect the unsuspecting citizen from the perils of contraband juice.

There is a war on normal human behavior happening all across America. It was only yesterday that I highlighted the inhumane case of a Florida couple which had its children snatched away from them by Child Protective Services (CPS), because the kids were playing alone in their own backyard for 90 minutes. Here are a few excerpts from the piece titled, 11-Year-Old Boy Taken Away by CPS for Being Left in Backyard Alone for 90 Minutes; Parents Charged with Neglect:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Paul Ryan Channels Pelosi on the TPP – You Have to Pass Obamatrade to See What’s in Obamatrade

by

Screen Shot 2015-06-11 at 3.18.02 PM

Chief Obamatrade proponent House Ways and Means Committee chairman Rep. Paul Ryan (R-WI) admitted during Congressional testimony on Wednesday evening that despite tons of claims from him and other Obamatrade supporters to the contrary, the process is highly secretive.

He also made a gaffe in his House Rules Committee testimony on par with former Speaker Rep. Nancy Pelosi (D-CA)’s push to pass Obamacare, in which she said infamously said: “we have to pass the bill so that you can find out what is in it.”

“It’s declassified and made public once it’s agreed to,” Ryan said of Obamatrade in Rules Committee testimony on Wednesday during questioning from Rep. Michael Burgess (R-TX).

What Ryan is technically referring to is that TPP will become public if TPA is agreed to—but Congress will lose much of its ability to have oversight over and influence on the process, since TPP is, in many respects, already negotiated. It’s 800 pages long, and on fast-track, Congress will only get an up-or-down vote and won’t be able to offer amendments. The Senate vote threshold also drops down to a simple majority rather than normally having a 60-vote threshold, or in the case of treaties, a 67-vote threshold.

– From the Breitbart article: Paul Ryan’s Pelosi-Esque Obamatrade Moment: ‘It’s Declassified and Made Public Once it’s Agreed To’

If you still think that the establishment Republicans in Congress represent real opposition to President Obama’s policies, you’re either extremely brainwashed or extremely stupid.

Honestly, I don’t know what it will take for some people to wake up. How many times do you need to be used, abused and conned by slimy politicians before you can shake off your political Stockholm Syndrome? Does John Boehner need to drive up to your front door in a motorcade and eat your first born’s liver at the dinner table with your wife’s silverware before you get it? It’s pathetic.

The focus of today’s piece is the secretive corporatist giveaway known as the Trans Pacific Partnership, or TPP. I’ve written about this frequently as of late, see:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

11-Year-Old Boy Taken Away by CPS for Being Left in Backyard Alone for 90 Minutes; Parents Charged with Neglect

by

Screen Shot 2015-04-22 at 11.12.37 AM

One afternoon this past April, a Florida mom and dad I’ll call Cindy and Fred could not get home in time to let their 11-year-old son into the house. The boy didn’t have a key, so he played basketball in the yard. He was alone for 90 minutes. A neighbor called the cops, and when the parents arrived—having been delayed by traffic and rain—they were arrested for negligence.

They were put in handcuffs, strip searched, fingerprinted, and held overnight in jail.

It would be a month before their sons—the 11-year-old and his 4-year-old brother—were allowed home again. Only after the eldest spoke up and begged a judge to give him back to his parents did the situation improve.

– From the Reason article: 11-Year-Old Boy Played in His Yard. CPS Took Him, Felony Charge for Parents

If the title to this post sounds familiar, it should. Back in April, I published an extremely troubling piece titled, 11-Year-Old Kansas Boy Taken Away from Mom Due to Her Use of Cannabis Oil to Treat Crohn’s Disease. Here’s an excerpt:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Shots Fired – Jamie Dimon Questions Elizabeth Warren’s “Understanding of the Global Banking System”

by

Screen Shot 2015-06-10 at 3.48.26 PM

I think the following comments will come back to haunt Jamie Dimon. They represent the perspective of an out of touch, financial oligarch who is so consistently fed bullshit compliments by all those surrounding him, he has no idea how badly this will backfire in the long-run.

What Jamie Dimon doesn’t understand, is that people still hate the big banks. Half a decade into this oligarch theft marketed as an economic recovery, have you ever met a single person who didn’t harbor bad feelings toward the banks and the bailouts? I haven’t.

While Elizabeth Warren herself might not be personally popular across the political spectrum, her message on the banks is. If this message still resonates now, it will only resonate much more in the years ahead when the economy enters its next downturn. At that point, Mr. Dimon will be very sorry he made this comment.

You don’t want to poke Elizabeth Warren in the eye with a stick, and that is exactly what he just did. This was a really stupid move. One that can only be explained away by mindless hubris; something disconnected elites are famous for throughout history.

From Bloomberg:

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon took aim at U.S. Senator Elizabeth Warren, a critic of large banks, as he expressed broad concerns about leadership in Washington.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Another Tale from the Oligarch Recovery – How a $1,500 Sofa Costs $4,150 When You’re Poor

by

Screen Shot 2015-06-10 at 4.08.47 PM

Five years into a national economic recovery that has further strained the poor working class, an entire industry has grown around handing them a lifeline to the material rewards of middle-class life. Retailers in the post-Great Recession years have become even more likely to work with customers who don’t have the money upfront, instead offering a widening spectrum of payment plans that ultimately cost far more and add to the burdens of life on the economy’s fringes

In some ways, the business harkens back to the subprime boom of the early 2000s, when lenders handed out loans to low-income borrowers with little credit history. But while people in those days were charged perhaps an interest rate of 5 to 10 percent, at rental centers the poor find themselves paying effective annual interest rates of more than 100 percent. With business models such as “rent-to-own,” in which transactions are categorized as leases, stores like Buddy’s can avoid state usury laws and other regulations…

By the next day, the Abbotts had a remade living room, two companion pieces, both of the same blended material, 17 percent leather. The love seat and sofa retailed, together, for about $1,500. Abbott would pay for hers over two years, though she still had paying the option to pay monthly or weekly. The total price if paid weekly: $4,158.

“I’ve never seen a customer base or an economy like this,” Gazzo said in a telephone interview from the company’s headquarters in Tampa.

– From the Washington Post article: Rental America: Why the Poor Pay $4,150 for a $1,500 Sofa

When you bail out financial criminals and predators, you get a criminal and predatory economy. If there’s one clear lesson from the 2008 crisis and its aftermath, that should be it.

Earlier this week, I published an article titled, Land of the Debt Serf – How “Auto Title Loan” Companies are Ruthlessly Preying on America’s Growing Underclass. In it, we saw how efficiently the Fed’s 0% interest rate policy trickles down to the poor. In fact, preying on the poor for profits has been one America’s most vibrant business models since the “recovery” took hold. We learned that:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

The War on Free Speech – U.S. Department of Justice Subpoenas Reason.com Over Comment Section

by

Screen Shot 2015-06-09 at 12.40.54 PM

The United States Department of Justice is using federal grand jury subpoenas to identify anonymous commenters engaged in typical internet bluster and hyperbole in connection with the Silk Road prosecution. DOJ is targeting Reason.com, a leading libertarian website…

The D.C. court was right — the government won’t start issuing grand jury subpoenas every time someone writes “my husband left underwear on the bathroom floor again; I could just kill him.” But they won’t because they don’t have the time, inclination, or the resources.

Instead, they will use their discretion to decide when to bring their vast power into play to pierce the anonymity of internet assholes (or for that matter, people who may have valid points on political matters but express them in the wrong fashion). That discretion is much more likely to be exercised where, as here, the person being trash-talked is a powerful federal judge in the district of that U.S. Attorney’s Office, a judge that the office must appear before every damned day. The power is more likely to be exercised on behalf of establishment political figures, not outsiders. The power is more likely to be exercised when it is consistent with the politics of the administration.

The D.C. court implies that we can trust federal prosecutors to use the grand jury power to pierce the anonymity of political firebrands even when their rhetoric is clearly protected by the First Amendment. That the government will investigate anonymous political rhetoric in even-handed fashion, whether that rhetoric comes from a magazine known to be friendly to the government and its establishment, or one that is, like Reason, prone to question both.

– From the excellent Popehat article: Department Of Justice Uses Grand Jury Subpoena To Identify Anonymous Commenters on a Silk Road Post at Reason.com

Readers of Liberty Blitzkrieg will be well aware of the gradual erosion by the state of the civil liberties of the American public. Such attacks are typically sufficiently under the radar, so that the average citizen has no idea what is happening until it’s too late. I have written about such calculated assaults on many occasions, but the holy grail target of the status quo is the First Amendment of the Constitution, which enshrines a right to the freedom of religion, speech, the press, and the right to peaceably assemble and petition the Government for a redress of grievances.

Many aspects of the First Amendment have been neutered in practice. For example, the right to assemble peacefully and effectively is often prevented in practice by the need to secure permits and other hindrances (see “free speech cages” and “protest zones”) . Meanwhile, on college campuses, where activism is historically most vibrant, many schools have embraced the Orwellian concept of “free speech zones” in order to prevent free speech. See:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

It’s Not Just the Clintons – George W. Bush is Making Tens of Millions on the Speech Circuit

by

Screen Shot 2015-06-08 at 1.45.15 PM

Toward the end of his presidency, George W. Bush told Robert Draper, reporting for a book called Dead Certain, that he intended after vacating the Oval Office to “replenish the ol’ coffers.” He said he could make “ridiculous” money on the lecture circuit.

Since 2009, POLITICO has found, Bush has given at least 200 paid speeches and probably many more, typically pocketing $100,000 to $175,000 per appearance. The part-time work, which rarely requires more than an hour on stage, has earned him tens of millions of dollars.

“The post-presidential industrial complex at work,” said Brandon Rottinghaus, a political science professor at the University of Houston.

– From the Politico article: On Talk circuit, George W. Bush Makes Millions but Few Waves

By now, it’s pretty clear that the U.S. Presidency represents little more than a 4-8 year period in which the chosen puppet proves his or her worthiness to America’s billionaire class. After this time, the lucky individual will be handsomely rewarded for sufficiently supporting and protecting the entrenched, corrupt status quo.

This is precisely why Obama has continued (and builded upon) all of the heinous polices of his predecessor’s legacy with ruthless enthusiasm. The Presidency is not the pinnacle of American power, as many people uncritically believe. In reality, the office is primarily for show. A marketing trick to make the unsuspecting, divided and conquered public think they have a choice in how the country is governed. For the office holder, it represents a stepping stone to the real goal — unimaginable riches.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Land of the Debt Serf – How “Auto Title Loan” Companies are Ruthlessly Preying on America’s Growing Underclass

by

Screen Shot 2015-06-08 at 10.51.03 AM

Short-term lenders, seeking a detour around newly toughened restrictions on payday and other small loans, are pushing Americans to borrow more money than they often need by using their debt-free autos as collateral.

Their hefty principal and high interest rates are creating another avenue that traps unwary consumers in a cycle of debt. For about 1 out of 9 borrowers, the loan ends with their vehicles being repossessed…

But Jordan said it wouldn’t make a loan that small. Instead, it would lend her $2,600 at what she later would learn was the equivalent of 153% annual interest — as long as she put up her 2005 Buick Rendezvous sport utility vehicle as collateral.

State law limits payday loans to $300, minus a maximum fee of $45. California also caps interest rates on consumer loans of less than $2,500 on a sliding scale that averages about 30%. Consumer loans above $2,500 have no interest rate limit.

For that reason, essentially all auto title loans in the state are above that level, according to the state’s business oversight department.

– From the excellent LA Times article: More Auto Title Lenders are Snagging Unwary Borrowers in Cycle of Debt

Last week, I published an article highlighting how the use of “alternative financial services” has continued to increase despite the so-called economic “recovery.” These services include payday loans, refund-anticipation loans, pawnshops, rent-to-own services, and the little known, but recently surging, category called auto title loans. Here’s an excerpt from that post, titled Use of Alternative Financial Services, Such as Payday Loans, Continues to Increase Despite the “Recovery”:

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

A Professor Speaks Out – How Coddled, Hyper Sensitive Undergrads are Ruining College Learning

by

Screen Shot 2015-06-07 at 10.16.08 AM

Things have changed since I started teaching. The vibe is different. I wish there were a less blunt way to put this, but my students sometimes scare me — particularly the liberal ones.

I once saw an adjunct not get his contract renewed after students complained that he exposed them to “offensive” texts written by Edward Said and Mark Twain. His response, that the texts were meant to be a little upsetting, only fueled the students’ ire and sealed his fate.  That was enough to get me to comb through my syllabi and cut out anything I could see upsetting a coddled undergrad, texts ranging from Upton Sinclair to Maureen Tkacik — and I wasn’t the only one who made adjustments, either.

The current student-teacher dynamic has been shaped by a large confluence of factors, and perhaps the most important of these is the manner in which cultural studies and social justice writers have comported themselves in popular media. I have a great deal of respect for both of these fields, but their manifestations online, their desire to democratize complex fields of study by making them as digestible as a TGIF sitcom, has led to adoption of a totalizing, simplistic, unworkable, and ultimately stifling conception of social justice. The simplicity and absolutism of this conception has combined with the precarity of academic jobs to create higher ed’s current climate of fear, a heavily policed discourse of semantic sensitivity in which safety and comfort have become the ends and the means of the college experience.

– From the Vox article: I’m a Liberal Professor, and My Liberal Students Terrify Me

The article at the center of today’s piece is truly excellent and demands much thought and introspection. One of the main themes here at Liberty Blitzkrieg since inception, has been the contention that the American population has turned into a nation of coddled, fearful serfs.

It’s not quite clear to me when this transformation actually happened, but the first undeniable evidence within my lifetime was the public’s reaction to the terror attacks of September 11, 2001. I’ve written about this before, most specifically in the post, How I Remember September 11, 2001. Here’s an excerpt:

In the days following the collapse, all I wanted was for the towers to be rebuilt just like before. I wanted the skyline back to what I had know since the day I came into this earth at a New York City hospital to be restored exactly as I had always known it. Career-wise, I felt I should leave Wall Street. I thought about going back to graduate school for political science, or maybe even join the newly created Department of Homeland Security (yes, the irony is not lost on me). I read a lengthy tome on Osama Bin Laden and al-Qaeda. I was an emotional and psychological mess, and it was when I was in this state of heightened distress that my own government and the military-industrial complex took advantage of me.

It wasn’t just me of course. It was an entire nation that was callously manipulated in the aftermath of that tragedy. The courage and generosity exhibited by so many New Yorkers and others throughout the country and indeed the world was rapidly transformed into terrifying fear. Fear that was intentionally injected repeatedly into our daily lives. Fear that translated into pointless wars and countless deaths. Fear that was used to justify the destruction of our precious civil rights. Fear that was used to initiate a gigantic power grab and the source of tremendous profits for the corporate-statists and crony-capitalsits. Unfortunately, that is the greatest legacy of 9/11.

It was the American public’s fearful and panicked emotional response to the attacks that allowed authoritarians and corrupt politicians to seamlessly and expeditiously steamroll over the civil rights of the citizenry. Unsurprisingly, this act of cowed submissiveness sent a signal to the less ethically inclined amongst us, and in the decade and a half since the attacks, the U.S. has rapidly deteriorated into something barely distinct from a Banana Republic.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.