tv [untitled] November 2, 2011 8:01pm-8:31pm EDT
turmoil rages across europe and the us financial guru max kaiser and his co-host stacy herbert explain why market speculators should be held accountable the cries reports next right here are two. max guys or this is the kaiser report i know you want to see max and stacey and bit we're going to accommodate you with a show coming up soon probably in december we'll be in bed not only that but you're not helping me by not following me on twitter and by following stacey herbert instead now she's catching up to me on twitter and the number of followers and that's not right is it it's called the kaiser report all right stacey everybody got forming max make love not that. that's the g.i. bill are sent in this week as you see apparently john lennon and yoko ono were
actually watching the kaiser report during their famous bed in in one thousand nine hundred sixty nine and you see you know this is a unique perspective not very many people look at this shot from that time but as you can see they were also saying all we are saying is let the banks fail and kaiser karma at the time nobody thought to look at the full three sixty of that shot exactly to look at some of the posters on the wall like make love not dead now suddenly in the year two thousand and eleven john and yoko were close won't they so john was a visionary he saw the future he knew it was coming well let's move on to the first headline here max the new world order fiscal austerity sectors in the line of fire this is a report from society in general and they say we are all greeks now max as we are all greeks you must say that in greek even. even.
in iowa what i was saying was i need another cup of coffee i thought that's what i was saying i don't know you sounded like a lady and you a soc gen says that no one can claim to be immune from a greek style spiral why because our economies are mature and we are aging so public expenditure they say will hit forty five percent of g.d.p. by two thousand and fifteen but. max i don't think it's because just because we're aging i think it's because we have too much crime too much banking crime too much debt. well that this is the underlying kind of realisation that is slowly coming into the consciousness of those who are being victimized by banking crime you know member ten years ago it was the antiglobalization movement and then they figured out you know what let's let's get more specific here it's actually wall street it's actually the banks we need to attack and then the next step would be to
name individual bankers and then to get the pitchfork but soc gen should talk because of course they wouldn't be in existence if greece actually went under because bailing out greece was largely bailing out society general and bank. well this is an interesting comment on how modern banks work you have the research department then you have the m. and a department mergers and acquisitions then you have management then the other proprietary trading desk and these parts of this company this bank should all be regulated in some way so that they don't abuse their positions to make money at the cost of the overall integrity of the system and what's now known as the bottom ninety nine percent so the fact that a research department society general first of all society in general is technically insolvent they have not enough working capital to to meet their monthly expenses that it's all coming from outside forces and through the shadow banking
system same thing with b. and b. it's technically an insolvent bank doesn't stop the research department from putting out reams and reams and reams of research some of which is good some of it's bad but all of it is in consequential taken in the context of global bank meltdown global currency meltdown and the rise of gold and silver well you. that shadow banking system bailing out soc gen that shadow looks a whole lot like the us federal reserve i have to say well the us federal reserve's balance sheet is now several trillion dollars in size and growing rapidly and what they're trying to do now with the f.s.f. which is the european version of what happened in american two thousand and eight they want to take especially the boom to spank the german banks and they want to expand their shadow banking system and according to the president of the e.u.
they want to expand it to five trillion euros right away and probably take it up to twenty trillion euros in the next six months but max we are all greeks now or even . greeks set to scream bloody murder as pension fund threatens to recruit eight billion euros in illegally paid out proceeds this is another thing you're going to see going forward and this is something we've talked about a few years ago that we predicted this is they're going to come up with all sorts of oh you illegally paid this to you and you illegally accepted this pension money and therefore you owe it. check out the asymmetry here they're abrogating a contract a pension contract and they're confiscating billions of euros at the same time out of this lot of them out there saying that well we have to honor our debts to sovereign creditors become possibly abrogate a contract that's anti civilization so they speak out of both sides of both
countries and always to the benefit of the top one percent always to the detriment of the bottom ninety nine percent the greek people are on the stream of course they're fighting back they understand as the banks now they understand a pump and rails in the pocket of the banks that he's a terrorist as in terrorism as in patriot act style terrorism and he needs to go so zero hedge says very soon greeks will discover that not only are their pension funds about fifty percent underfunded courtesy of the first of many european bailouts but that they will actually have to repay pension proceeds back that's eight billion euros again and it's according to the social security foundation the i.k.a. were veritas spiral. the purchases are not under funded the great banks are overfunded ok pup and drew nice to be showered in a mountain stock up. you know you could be buried alive in lusaka then i can make it more appealing than he normally well it definitely tastier well the other thing
i thought of this of course is that you're going to have these your savings disappear for example and i'll say oh we'll legally paid you your pension or you illegally collected your pension and it will be up to you to go up against the behemoth of the state to prove that actually you were owed this pension that they said you collected illegally and that reminds me in america all of these foreclosures that happened over the past few years where there was no paperwork no titles all sorts of illegal activity for which the banks have paid nothing but us some small fines here's a headline max disgusting fraud closure for mocks their victims out holloway party so this was on friday of last week and it was the law firm of steven j. baum who are known as a foreclosure mill and they represent mortgage lenders including citi group j.p. morgan chase bank of america and wells fargo and as you can see from these photos
this is their theme of the homelessness of the people homeless due to their foreclosures so in this one image you see these two women who have the sign i lost my home and i was never served so specifically mocking the fact that their crimes all of these banks and these foreclosure firms that they are the ones that committed the crime and they're laughing at the people that they thrown out into the street right and we're all great now i think we're all on the train to draw a blank and now basically up is wall street banks have their way you know what we it's going to happen in europe is probably another. kristallnacht you know this is the night when game on you know when basically it just will take it all you're going to the ghetto you're going to the concentration camp that's what the banks in france and germany are angling for now and let's turn to this other image here from that same. party there's one sign that says o.t.s. c. it stands for order to show cause which is a last ditch motion that often made by desperate homeowners about to be evicted
from their homes and another sign saying bleep foreclosure on current so again taunting these people taunting the people that they've illegally foreclosed on and forced out of their homes based on mortgages from j.p. morgan citigroup and wells fargo that were illegally induced that were fraudulent lee induced mortgages well these mortgage bankers and bankers are demonstrating classic signs of the serial killers who they want to be caught you know they're sick and they want to they leave these clues because they realize that society needs to do away with them well i think you're right there max on the serial killer front because that is perhaps something you're seeing because of the lack of justice the fact that the obama administration and their department of justice refused to prosecute these crimes these people become very hubris stick they think that they are better than everybody else and they can mock them and then also there are some who genuinely feel guilty and want to be caught so they're
leaving all sorts of clues to their crime i mean those women in that photo they're openly admitting to their crime but they sent a family out into the street right and bill black who put fifteen hundred of these guys in jail during the eighty's he's very specific about saying eric holder of the u.s. attorney general is also on the hook for this type of negligence just to highlight max how disgusting this event was i want to turn to new york city homeless facts the homeless population of new york city rose to an all time high in two thousand and eleven a reported one hundred thirteen thousand five hundred fifty two slept in the city's emergency shelters last year including over forty thousand children so forty thousand children these two women are marking and they'll be talking about the final solution soon but i think the better neighborhood. live in is max keiser is the neighborhood this is some more giago art currently somebody is making a film version of this show but let's turn to the european neighborhood jim rogers
says new greece still can't save europe so going back to greece we're all greek now jim rogers was very surprised and happy that there's a fifty percent haircut and greek debt but he says it needs to be more because they're bankrupt and need to be one hundred percent so unless that happens europe is doomed well it was a fifty percent of greek debt haircut but a five hundred percent increase in recapitalization of fraudulent loans from the banks so the banks made money and the total indebtedness went up not down total propaganda well jim rogers concurs there because he says most european countries are increasing their debt rather than decreasing their debt until that changes the problems are going to continue just as they will in the united states jim agrees with me of course as always yes he wears a bow tie like you do. i got him into gold i'm the one who got jim rogers into gold . anyway final neighborhood story here iceland passes final hurdle in
eleven point four billion dollars payout so apparently there are high court in iceland has accepted the emergency law which. essentially allows iceland to shaft the bond holders which include royal bank of scotland b.m.p. perry and deutsche bank and make whole the depositors you know what i think we're going to get into this in the second half our way i think so oh i think you're talking to bertie to humans dr oh good so we're going to explore this more deeply say server thanks so much for being on the kaiser report you might not go away much more coming away including forget the jones don't you're talking about this very icelandic screw up.
get to try to get the status of the human experiment. to see mr brown. or to build facilities try to send some really clear to me and it's all came towards us financial troubles the reason to me to put it to kids and don't want to be seen trade imbalances recession looks to be the nation's close to collapsing it's like looking for close. to fails whipple a banks again sealevel i think is a us question there was a. change just like in the closet in st the are still just programs increase the total economy. i welcome back to the kaiser report imax kaiser so i've got to go to iceland and
speak with brigade jones don't care if he's a member of parliament in iceland brigade to welcome back to the kaiser report well thank you very much sam happy to be back again last week the icelandic government and the i.m.f. co-host of the conference iceland's recovery lessons and challenges before we discussed the conference give the audience a brief outline of the collapse in iceland oh wow so in two thousand and eight you know third. down in the history of humankind. we were the most developed nation in the un two thousand and seven. two thousand and eight we were. under terrorist acts when one of our banks. big name associated with you went on there. alongside the north. where ok let me let me stop you right there are some other words. some global authorities
recognize that the icelandic bankers were terrorists and they put them on the terrorist watch list or they don't think of that as terrorists oh no there's who are investing what you. one of the mysterious on the list of the richest people in the world and unfortunately none of the people responsible for the constant scheme in relation to the banks has been persecuted to my understanding though it is very difficult to get these people charts because many of them people that run the banks they co-wrote the loss so they know which loopholes to use and which grayson's to scale so i am not sure if the people responsible from dropping the banks from inside where would be held accountable and this is of course not only a problem and i asked them but all of it's hard to believe because they were able to get gadhafi saddam hussein what was the name of the primary terrorist in iceland
that people are trying to find and prosecute hopefully hang what does them again bill who told you her son and he is sarah actually one of the prime and that's truth in a new data centers in iceland that is something nice and cool when holden and he was responsible for i said but there are some good news in relation to that these three basic oh it was a court ruling finally in relation to have them emergency law so we put through in order to deal with the financial collapse will hold or not they will hold and that means that the british and the ducks governments will get all their money back with us now the pex players. put on because there is a message board to ruling eminent or a court case if we reach the year law yeah that's right david cameron and the government now the land they are being held hostage by a banking terrorist in their countries and they they may have the icelandic people to help them fund the extortion money now when i say that is dealing with the
i.m.f. how much debt to iceland take from the i.m.f. and what did the i.m.f. demand in exchange for their loans well this is all. well a very interesting story actually according to the finance minister and the central bank manager and i stand we are not to use any of the loan from the i.m.f. but we still haven't given them back to them even if we are supposed to be finished in the program the interesting thing is the i am at has now decided to use iceland . as a promotional kick for them being the new curtly and so i am. i have to remind people from now in a conference in the us and last week about their policy in the east and their policy programme in the only area where they indeed have not changed
anything from the previous disasters in asia but they're still trying to market so the i.m.f. asked if it has changed and i think it's dangerous many economists and so will look at the icelandic sample as a proof that their methods changed now here my warning they have not and even if things they have not gone harshly in iceland there there is for example one story that has not was not discussed that this company was a whore and that this is the one of our energy companies and was sold to a foreign company like one of these drawer companies they created a drawer company in sweden in order to buy them they were from well the pan american civil corporation from canada and they managed to get a resource that you indeed remain in the ownership of the nation ok let me a cutter and therefore second some other words iceland to not use the i.m.f.
long but the i.m.f. is still going forward with asset sales of icelandic of properties anyway and they're using iceland as the pastor to. for their activities in greece i don't understand i mean they have the perfect poster child of dominic strauss column he's got to be the financial repost of the century how come they don't push your christine legarde bend your country yet to let you know the good news that the i.m.f. is there to help you no we haven't seen christine in iceland yet but we have an i.m.f. managing director speaking at this conference and no power no see so that the i.m.f. had indeed united and how it's strengthening the welfare system which is of course looked across lucky we have basically we only have rather we both health care and education are since the mayor prior to the oneness of the independence party
but we are we have accepted his own advice and we we don't even have property stop hospitals and all the hospitals now are so they've been slashed so badly that we've been getting letters from all of them parliamentarians and i was then just basically saying the thing can't cut any more unless you know we will have health hazards and help the same applies to you have to cancel since them and of course you should leave the people that can't defend themselves and have the most difficult time in that sort of austerity measures so even if we have women at the top of the i.m.f. i don't think it has changed yet and i don't think it will have a chance because we all know what the function of the i.m.f. is and that is not to look after the people but to look after the people that have the power so they're not they're looking after the one percent not the ninety nine percent all right now iceland did stiff the bondholders on the collapse to banks
in iceland something that you're not seeing in ireland or greece or the bondholders are being made whole so that piece of the equation in iceland that. way same sort of gone in favor of the the population what are your thoughts on this aspect of the of the whole catastrophe well i think there are some things that can be learned from iceland but we have to bear in mind that i've seen of this personally that special it was not because the icelandic government was so smart that they decided to let the banks fail if you couldn't get the money to save them and then you know everybody thought that that was needed but that actually has turned out to be a great blessing on the three banks were actually allowed to fail but one of the differences between iceland in many other countries is that many of the people that had money in the banks or serious or you know on some of these toxic material
inside them were not as numbers but they were mostly foreign. foreign only something they collapsed so i want to say for jews that would not be the case was would collapse in france so that was a blessing in disguise that we have been used as a house. for the foreign trade of this now and but some countries might actually want to consider it to let the banks fail i think in general what people are calling for now all over the world is that the banks will become smaller now and then will be separate and more help more accountable and we should indeed use tariffs to sort of community based facts for the people in the communities and then the people that want to run well with their bubbles can do the thing piece maybe in the city of london well any any economy anywhere thrives on competition
and if you have too big to fail banks that means you don't have competition and the i.m.f. is saying that wait a minute we don't want competition in iceland's banking system we want to put it together with our globe. all bailout funds to continue the too big to fail motif that has destroyed these economies that made our staff extraordinarily wealthy and everyone associated with our staff so yes competition needs to have actual multiple entrance into a market competing with each other but let's get back to the conference that you were recently attending because we were reading your tweets from the conference and you tweeted that citi group their chief economist william boater said that there should be a jubilee jubilee every fifty years your thoughts on how that was received and that was a surprise to many employers that he said that in fifty years and we had meets the new forty nine or fifty so he was basically saying that we should have to actively
in ice then maybe that time has come everywhere maybe it's time that we. we start anew and i think that what i've been hearing everywhere is that people don't trust in the system any aspect of this is them because the system a self-serving it doesn't matter if it's the benefits system or what their systems so yeah why don't we take these goods months economists and have you believe them everywhere well the gold and silver vigilantes are going to force the issue one way or another the government can put off the inevitable as long as they want to stop stopping gold and silver from continuing to go higher well finally brigade a question from facebook dot com slash carves a report from jesse kersey who asks does brigade to believe that the greek and or portuguese lawmakers have the call harness to take back their sovereignty or is it too late for them and let me just also add here from what you're saying here today
the i.m.f. is so intricately involved in the icelandic banking situation today that it's not clear that iceland really has avoided loss of sovereignty yet is it brigade to yank the it's not clear how you see the banks will rebuild your stocks that were and we actually there isn't so much bank secrecy that even the honest minister doesn't have access to who owns the banks that have been resurrected out of the old facts so there's still no transparency in the in the icelandic banking system even though you are unmercifully financially raped by a just b. c. barclays lloyds of london lehmann bear goldman j.p. morgan who are gangbanger unmercifully there's still no transparency in iceland incredible isn't that we've been fighting me and a few other people in the parliament we won't be speaking to deaf heirs and i think
we have to bear in mind that most politicians or you know people in power are puppets they're puppets for the finest. and we just have to face it and it is really time that we look beyond the traditional politics because let's face it their own democracy yes they are dictatorship many hats because we the people we don't have access to decision making want to make sure that they're doing their jobs in favor of our needs and the need some of the many many but only the few i appreciate of joan's not there that's all the time we have for thanks for being on the kaiser report thank you so much and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i would like my desperate of joan's daughter you can follow her on twitter at her get j. . you can follow us on facebook dot com slash kaiser report or a twitter slash kaiser report you can also send us an e-mail and kaiser report in r t t v dot ru and follow me on twitter instead of stacy herbert i'm max kaiser slash
twitter no it's twitter what you'll figure it out it's me that not are in so much time this is max kaiser signed by all. the official location on the phone only pulled touch from the. lights on the go. video on demand all keys in line gold coast's and says feed now in the palm of your. pushing on the dot com.
and broadcasting live direct from the heart of moscow this is r t glad to have with you with us let's go right to your headlines russian businessmen victor boot is found guilty of attempting to sell weapons to a terrorist organization he's it due to be sentenced by a court in new york in february and could face life behind bars but was originally arrested in a sting operation by u.s. agents in thailand in two thousand and eight and extradited to america in two thousand and ten led. by court in old london with the week's founder julian assange she loses his appeal against extradition to sweden for alleged sex crimes mistress songe condemned of the european arrest warrant system for preventing british judges from considering the legal merit of the charges his defense team argued the case is politically motivated and could see the whistleblower extradited to the u.s. after we could leaks made public thousands of confidential military and diplomatic cables elite world leaders gather in france for the.
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