tv [untitled] October 20, 2011 11:31am-12:01pm EDT
started it it keeps getting stronger and stronger and it's heading into more and more countries as in as many countries as the show is ya'll get it when is the folks at fox like hannity and bootlickers one of they going to recognize myself as the driving force of their demise probably they won't until they get hit by a truck and i don't mean that think it'll be ok stay here or max keiser yes the occupy the world movement is gaining traction and i have some images to prove here some occupy amsterdam this is max and stacy kaiser dot com this is a guy at occupy amsterdam next image from occupy london stock exchange hey max o.l.s. sex and a crash j.p. morgan by silver guy jim rogers let the banks fail he's quoted as saying what they are doing in europe is saving the day not saving the system just pumping up them bailing out another bank is not. solution we need to let the banks fail
yes we need to let the banks fail now the banks are going to sell but that's not in dispute because the amount of debts that they have on their balance sheet mostly non disclosed on off balance sheets special purpose entities accounts and other ways to hide the debt is much bigger than any money money pumping campaign can possibly prevent from collapsing. so they're going to be a collapse anyway the only question is is going to be orderly or is going to be chaos well i maintain that they're not letting the banks fail as an act of war it's a financial war and you can see that in the headline i have here max the global debt clock now if you notice this map this is from the economist the number scrolling across the top adding up adding up that's that amount of public debt this is debt that is being transferred from the banks to the population newness all the
nations in red. those are the ones with the most debt the most public debt notice however also that those are the financial services a condom e s. america the u.k. france these countries japan you know what was about forty trillion if i got that number correctly global debt yes it was adding up so fast as we're sitting here talking about of course to the total derivatives exposure is a six hundred trillion so more than ten times better number and there's no counterparty protections of that and that's like for example j.p. morgan is ninety trillion in derivatives risk and there's no counterparty safety for that at all that companies are dead bank walking will look at the top banks in europe who are bankrupt and are dead banks walking they're sucking the life blood the life force out of europe with their financial war and remember the last time a europe had such austerity measures was world war two so if you think we're not in a financial war then look at this credit suisse barry's european banks sees
deutsche bank and sixty five other banks failing latest stress test forty billion euros capital shortfall so according to credit suisse in our estimation of what could be the new e.b.a.y. which is the european banking authority stress test there would be sixty six failures with r.b.s. deutsche bank and b.n.p. needing the most capital at nineteen billion euros fourteen billion euros and fourteen billion respectively among the banks with the highest capital shortfalls soft gentle barclays would need roughly thirteen billion the european banks are going to go completely belly up this is a foregone conclusion there's nothing that can possibly stop it well look at those banks they mention their max r.b.s. deutsche bank b.m.p. soc gen barclays what do those five banks have in common balance are running a huge bailouts from the us taxpayer but also what do they create and spin and thrust upon taxpayers around the world driven up there it is those are the biggest
derivative wielders in the world there isn't a direct relation. ship between how much these too big to fail require and how much fraud they perpetrate upon the nations of the world so if your city is bombed by a blitzkrieg and you end up having food rationed or your city is destroyed from a financial blitzkrieg and you end up needing food that's rations is there a big difference there one they use these stealth financial weapons of mass destruction one they use the traditional let's create bomb weapons of mass destruction but you're still there eating beans out of a can for a family of twelve and the other thing that happens in a war of course is the loss of sovereignty so let's look at the solution from the outgoing e.c.b. chairman junk. change needed to impose decisions on states so the outgoing head of the european central bank has called for a change the european union treaty to allow for the outside imposition of economic policy on a member state he said it is necessary to change the treaty to prevent one member
state from straying and creating problems for all the others to do this one needs to be able to impose decisions yes impose dictatorial authority from a top down european wide bureaucracy run by weapons of mass financial wielding germans how does this sound familiar so when will the penny drop that's the next headline from david mcwilliams he's down in dubai and he's sitting there in a luxury hotel lobby and what he notices are senior executives from french banks with begging bowl walking around asking any arab that walks by any shake money money please so he's likening europe to the argentina of the last time prices were this high and all those excess reserves from the arab nations went into basically. fraudulent loans to argentina and latin america and now this time all
that money went into europe because of course this is where the house and bubbles were very prominent well i think the point is to be made that the history of bank fraud and bailouts going back twenty or thirty years including the argentina and bailout other sovereign debt crises cizik cetera with each crisis there needs to task for free savings and loan crisis in the united states the lesson as always been how do we change the laws to make it easier for the banks to rip people off without getting any kind of penalty so that was the big lesson from argentina in the savings and loan crisis was a couple of guys went to jail a couple of guys lost some money who were on the inside so they change laws thanks to the complicity of guys like bill clinton and george w. bush who just kind of write the laws that the bankers tell them to write and this
gives them immunity that's why this banking catastrophe has become so pernicious is that the bankers have become this multi-headed hydra cancerous tumor that's just as you say sucking the life blood out of the global economy so it requires almost a superhero to appear with a silver bullet or something magical too because right now nobody is standing up to the bank not barack obama god no but there is nobody in the world stage who have what if any power who is standing up to those tumors cancer yeah but that's because they operate the world's military and how did the price of oil what quadruple over a seven year period that was because of the war against iraq in on behalf of bankers and other major monopoly corporations now when you and i traveled to the persian gulf in two thousand and five two thousand and six. we were surprised
at the love expressed for americans why were they so happy because of the price of oil they directly all over a cutter all over dubai all over abu dhabi we were told that they credit the american military machine for making them so rich because of the price of oil you know they love they love americans there i mean the whole mythology in the us is that they hate us i'm referring to arab extremists but when you go to an arab country you're like come on baby have a cigar have a drink thanks for montserrat all bankers hold this myth that great financial crises. are rescued by war so well that was the panic of eight hundred fifty seven followed by the civil war which bailed out the banking system world war two bailed out the world from the great depression so let's look at this next war i mean iraq wasn't enough afghanistan's not enough yemen son of somalia is not enough pakistan's not enough now or in uganda that's apparently not enough revealed fox's
best man and his ties to iran's opposition now liam fox the defense secretary that stepped down was forced to step down from great britain his mistress this guy adam wearily it turns out has been involved in an audacious plot to topple arena president mahmoud on the dish odd so the self-styled advisor to mr fox has visited around with several occasions and met iranian opposition groups in washington and london over the past few years he is so highly regarded by israeli intelligence service mossad who thought he was mr fox's chief of staff that he was able to arrange meetings at the highest levels of the israeli government so he's also connected to the neo cons in america who of course try to overthrow bill clinton because he had a mistress well monica lewinsky wasn't going around the world trying to stoke wars with other nations he's a war whore. he's a war whore of course that's the song they're singing now let's attack iran.
this is the song that is getting all the war whores united on the same page the clintons the obama's the cheney's the howl of burton's the princes you know they're singing. all joined together as war horrors because we're not intelligent enough to get real jobs let me explain something to you about war you see there's a huge debt bubble in the world so you and there's two choices the ball is cutting into purchasing. power essentially is what it's doing to everyone she had currency their purchasing power is being eroded because to deal with the debt bubble all these governments are printing money willy nilly it is cutting into people's purchasing power while it's driving costs higher so it's kind of a cost pole form of inflation instead of a demand push but we'll get to that another time the point being that prices are going higher for stuff like food and energy and its purchasing power is eroding now
there's two ways that you can get rid of this problem increasing purchasing power either you let the bonds collapse and therefore let the banks collapse or you kill a lot of people. therefore eliminating demand for the feet of money that is causing the inflation this is what war is great for what for example the us they killed a million iraqis that's a million less people that are going to have to be recipients of food out money us bombs around they kill million iranians and they kill another fifty sixty thousand americans they don't care as long as they get rid of the demand for free our money that will help the top one percent not lose any purchasing power so the humans become the fodder so they have to decide whether they want to let the bonds crash or to kill millions of people and tens of thousands one hundred thousand american service men and what does a bomber thinking right now let's kill more american servicemen for the sake of recovery because the guy's a murderer and phonak i mean this isn't teachable beyond impeachable this is like
to run a goal well britain is the leading edge of the financial war and the wars they they lead the charge we would not have gone into iraq without tony blair if he were not the one selling it we would not have happened if it weren't for liam fox and his mistress then we would not be going into iran so you know that's that's the truth there and the other thing is these occupy wall street will be shut down immediately if we do go to war against iran because that you're not allowed dissent in a war well remember what stopped the actual position moving to seattle was that cock that made up nonsense of nine eleven ok states never thanks so much for being on the kaiser report thank you don't go away much more coming away so stay right there. in the name of. the official t.m. placation your body so the people talk to me like you jumps to. life on the. video.
feed now in the palm of your. don't. combe. we'll. hear the latest in science technology from around the world. we've got the future covered. i welcome back to the kaiser report i'm max kaiser time now to go to savannah georgia and talk with artist media historian and critical theorist michael betancourt michael welcome back to the kaiser report hi there it's nice to be back all right michael we spoke to you a few months ago about ag no to logic capitalism for those that missed that episode
briefly tell us what that is well it's the idea that we're currently living in a primarily digital capitalism that is to say additional dominated capitalism where instead of everything being based around what we know we're actually living in a society where capitalism functions primarily because instead of having a clear knowledge of things that are going on it functions because we do not have this knowledge it functions through the creation of systematic ignorance and systematic oh no means ok so when somebody like michael moore for example all goes down to the occupy wall street movement and he says we're anti-capitalist he's referring to something that really doesn't exist anymore right well yes and no i think by capitalists he means a small section of the current population who primarily profit through financialization. i don't think he's necessarily opposed to capitalism per se but i think he is probably opposed to what we think of as the contemporary misinformation
based capitalism they are going to logical capitalism so michael betancourt and they have the system as a logical capitalism relies on endurance and you've got an uprising around the world from people kind of flowing into this digital space isn't that a huge risk right there yes it is going to explain that what this potentially means and this is potentially mind you it's potentially an fundamental challenge to the system some of the occupy wall street protesters are demanding a tax on transactions before and by also your own trades that would basically bring into high frequency trading in an instant these kinds of directly targeted impacts. have the potential to undermine the i haven't a logic basis of all of this but to a certain extent i think we can also say that this uprising this objection is happening because the ad not a logical only works so long as it can keep its population utterly distracted into
irrelevancies into arguments over things that really don't have any impact or over issues of lifestyle or issues of personal choice all the while arguing for my freedom is being bridge by somebody else's freedom so we need to do we need to do something about that these kinds of internal contradictions we saw in the tea party movement last year the year before and now some of these same concerns are appearing with an utterly different demographic group much larger much more inclusive than the predominantly elderly tea party so yes this does pose a very serious challenge to the current organization of the world to the current financial situation and definitely here i mean as a logical capitalism because this movement has the potential to undermine the foundations of it however and this is the important however. just like the tea
party this kind of movement is readily subject to diversion into other issues and much of the coverage that it's been receiving is at least partially focused on these diversions the portrayal of how the various people are shown the particular individuals being interviewed for other television programs on all of these issues are ways of diverting it so you portray them as a revitalised group from fifty years ago the hippies who only want to spend their time being stoned and having sex certainly you're going to be able to create a certain amount of misinformation about this the difference is that this particular moment in time the same thing that enabled the arab spring is enabling the occupy wall street and it's the presidential nature of the internet as a communication system. literally bypassing what's covered in television what's covered
in our main news. and so we have these alternative starting to emerge that challenge this is your money order right so the occupy wall street movement is just echoing what's been going on building up around the world now we've got a complete global insurrection which i think is really the first time in history we've had a global insurrection coordinated certainly through digital means they are saying those digital means the facebook the twitter and the twins the twitter us fear is it fits into your model where it eliminates dissent write about correct well it works just start to sit through a process and you can see this really and how the various pieces of information are being presented about these organized protests but you can also see it in how other kinds of information are presented global warming the hazards of cigarettes take
your pick it doesn't really matter any of these large social issues that are controversial you can find an element of this happening it's the idea that ensued of having a clear knowledge of what's going on you get an alternative presented using the exact same methods by which we normally arrive at knowledge and the result of doing this of course obviously is that you can't evaluate what's being presented as factual or not factual because you don't necessarily know how they're making judgments because that information is being withheld very often in a world of feet out money which is in its own right propaganda it tries to create a symbol a symbolic reference to something that people think is money but it's actually not money doll it's an illusion and now we have a new chapter and if you have money symbolic of the historical record and high frequency trading and seventy percent of all the trades in the york stock exchange are training in this nonsensical nonrepresentational propaganda idiocracy
so you. you can sound that the road to high frequency training actually started over one hundred years ago one hundred years wait there well i think it's more than one hundred years but the idea that and this is actually part of my new research that i'm working on. the idea that high frequency trading is based upon a sampling a you disassemble something then you take pieces of it and you put it back together in some new fashion according to some new set of rules this is called sumi osis when we do this we have this symbiotic reproduction the origins for this are very very old it's part of how language works which is why it's called seriousness it's part of how all of our technology works it's part of how computers work with high frequency trading what's happened is there's an escalation and a speed that we do not have with other kinds of reassembly other kinds of
reproduction and so. what we get is a complete dissolution of objects or virtualization and then the manipulation of those virtualization is out and you reference your concern for her physical basis that. money has gone undergone this process of something else is as you describe it the digitization the securitization the fracturing of anything that had any reference to value and that is stuff has become this game of trading and this is great if you're a bank that makes money by how much of this junk you can force through the system but in the end it steals jobs it destroys the economy and it creates poppers and beggars and in america anyway you've got the new peasant class so people who again were referencing this occupy wall street movement the complaints from the one
percent the people who push the fake money around they suggest that the folks that who are complaining should get a job. but between outsourcing and automation there are no jobs is the whole idea of a job in america is that kind of finish now is just going to be peasants from here i'm going forward are always very careful about making claims about what the future is going to hold. what i am reasonably certain about is that these ideas that oh you just need to go get a job there's all these jobs if you're not rich it's your own fault which i've heard many including several would be political candidates say this is just false it just straight start to finish this is just not realistic it's an ideology in the one thousand censors goal to try to work ethic where if you work urge you will be successful and rich the converse of course is if you're not successful and
rich this proves that you're not working hard enough and god hates you and so this is why it was called the protestant work ethic and we're seeing this play out in comments like herman cain's just go get a job if you're not rich it's your fault well that's not true that ignores always the structural and systematic barriers that prevent people from even being able to get these jobs yeah i mean i remember when i was working on wall street the model there is outright fraud market manipulation and cider trading and the management on a weekly basis would lay out that week's fraud that week's ponzi scam that week stock market scam and the salesman had to buy into that scam for the week and that's the business model of wall street now at some point some people drop out because they simply don't want to participate in a system where the business model underlying is fraud deception and wealth confiscations are finding out with banks like bank of new york now still three hundred billion dollars through
a front running scam or wells fargo and walk obvious to all four hundred billion dollars through a money laundering scam people drop out of that they say you know what maybe i don't want to be like herman cain suggests obviously he supports larceny he supports thievery he supports market manipulation he probably would support a program of some sort or mass and center ration of a population who knows but if you don't want to be a part of the incineration of people which is what was. for it all to milly's about the jobs available are just not there are they know they are and it's actually worse than in some ways than what you're describing because we've know it or are at a point where digital technology is powerful enough it's maturing directly in terms of its not just its technical capacity but its ability to perform tasks that we would normally think of as human as requiring a human after human agency to perform and so with these development
what we see are things called expert systems and ai and those once you've trained one of these machines it takes away the jobs from countless other real human beings because suddenly the task that would require say a c.p.a. you can get by downloading turbo tax for example and then all of the people who spent decades in school learning advanced degrees learning highly skilled trades or professions so they are out of jobs that's the next phase that's coming yeah i would have to have to interrupt there because tim geithner the treasury secretary even using turbo tax matters to somehow not pay some of his taxes so he needs a special helper to help them figure out how to work turbo tax so there is a job where there is one job at least this for the minor of timothy geithner well michael ben cart as always fascinating we've run out of time but thanks for being on the caza report thank you i appreciate coming i'm always enjoy talking to you
max ok and that's all the time we have for the kaiser report with me max kaiser and stacey harbor i want to thank my guest michael betancourt his twitter address is send a graphic see the graphic you want to send me an e-mail please do so at kaiser report at r t t v dot ru until next on this max has are saying.
news on our t.v. all in a detailed or footage that appears to show the body of colonel gadhafi the libyan government says has died from his injuries south are being sought by government troops during his capture earlier today the news comes from the city of sirte which has been reportedly freed from gadhafi loyalists after two months of fighting. the greek parliament prepares to vote on tougher sturdy measures as protests turned violent paralyzing the country for the second day. peace great birds and nato forces clash with serbs in northern kossovo for control over a disputed border area which the serbs consider their territory. out of business news a russian company.