tv [untitled] December 20, 2011 5:31pm-6:01pm EST
max kaiser this is the kaiser report yeah we got a lot of very interesting comments based on my exploding eyeball stacey herbert tell us about it well first we'll look at this i bet you he's checking the phone book right now for all the djimi diamonds that's the max an aider you see there max that's fantastic i'd like to make a movie like that where i roam the streets looking for banking terrorists with huge . fifty caliber weapon on both shoulders you know looking for these guys tearing them down shooting them all mulling them all down well the top comic coming some elite one to eighty's on you tube when he said max is the terminator with one mission in mind take out j.p. morgan goldman sachs citibank wall street bank of england the reptilians george bush and tony blair my local police force scumbags david cameron
before i run out of space max just finished the mission you were assigned to. baby the maxim nater there should be a film on pirate my film but there does seem one organization in the employ of the max and mater and that fitch fitch goes on major bank downgrade rampage fitch just cut the viability ratings of eight major banks that downgraded bank of america barclays b.m.p. perry goldman sachs credit suisse deutsche bank society general and it affirmed the viability rating of u.b.s. failed to take down j.p. morgan though max well they're kind of like the french based outfit and i think this is in response to moody's which are more u.s. based so now the rating agencies have got involved in the ratings war now closed. currency war but what's remarkable to me is that two years ago or three years ago when it would have been valuable to downgrade those banks at that time when their
balance sheets were exploding in the shadow banking system and off balance sheet toxic liabilities that would've been helpful but now that the world is trying to recover from the realisation of these toxic debts off balance sheet then rumpelstiltskin fitch moody's and s. and p. finally wakes up and applies a negative rating at the worst possible time it's as if they're purposefully trying to destroy the economy which i guess based on everything we're hearing from these club to chronic megalomaniacs that's exactly what they're trying to do fitch says despite the significant progress it sees the banks have made in building up capital and liquidity buffers to resist market changes fitch report said these banks are sensitive to high volatility a low confidence in the markets that's kind of way to fight in these markets so it's a little bit worrying that they're saying about that it's an fact there is no confidence if these banks themselves weren't so engaged in so many fraudulent activities and
stealing so many of their customers funds maybe there will be a little bit more confidence in the markets good point stop stealing customer funds global j.p. morgan and we'll see whether confidence returns those are two banks that are not actually listed here i'm talking also about bank of america talk about barclays bank goldman sachs credit suisse deutsche bank in society general here max oh i got a story about goldman sachs ok well let's say that very next year two thousand and twelve ok if you're not for this what's your story about goldman sachs well they're in trouble because they tried to issue a fake sue coupons islamic finance a court of the f. cking goldman sachs's try to fit pawn off a fake bond in islamic finance world they got some shyster moolah to give it the ok even though it didn't come. pli was sariah law and they thought they had trouble before forget about movies bunch of s. and p. went to low down roads goldman sachs they could have that fatwa rating that it
doesn't look so good for them then why can't they come out of the fatwa writing clyde's of the debt of all these banks goldman sachs would definitely get a very low while waiting at this time boy oh boy there was a lot there that's running around ok well let's move on to these currency wars you know fitch is a french company and it was convenient that just recently s. and p. was threatening to downgrade french debt so it's now full out raiding currency war this is going into more like the great depression this is these are the events leading up to the great depression one here is a great depression to france lose its credit rating it should be the u.k. head of central bank hits out as tensions rise in london and paris and this is the head of the central bank of france christian noir and he says france is bracing itself for the potential loss of its cobbett aaa rating after two credit rating agencies last week indicated they were considering marking down countries across
the eurozone but bank to france governor christian neuer said they should instead be looking at the u.k. because of the scale of debt and inflation and the poor levels of growth and bank lending on this side of the channel is absolutely correct and let me explain something to the audience the response from the u.k. to chris annoyer who said that the u.k. should be downgraded not france the response from the u.k. was like well the markets think otherwise the markets are giving our guilt our sovereign bond market a lower yield due to higher demand the markets are saying the opposite of you christian noir that's absolute poppycock what the u.k. fails to mention is that the reason guilds are yielding so low is because the bank of england is engaged in quantitative easing which just means that. bank of england is buying its own bonds it's eating its own vomit and for that reason the hills are low whereas the e.c.b.
is not gauging and quantitative easing the big debate around the world today is that the world wants the e.c.b. to engage in quantitative easing to borrow back its own bonds as to buy back the bonds of very sovereign countries in the e.u. as a way to play ball with these financial terrorists well maybe france and germany say you know what we do want to play ball financial terms like mervyn king over the u.k. maybe we'd like to have more of a sustainable economy based on general organic growth not just financial terrorist like you find the city of london like you find now who's getting really is clock cleaned is the fellow over there at r.b.s. who's now really in deep trouble because they found out that he's been breaking all kinds of laws but let's stay on this war going on between britain and france because there i have several headlines here so here's another headline from the french minister is attacking david cameron they've gone all out on this i guess during an election season coming up and also this war that david cameron apparently
started with the french better to be french the british says french finance minister and here is a little video clip of him francois our own in the pollution with the moment but one of those who could see we could a situation we couldn't be good again with the tool to eat poop to be complete for the twins who put the new consumers who couldn't report over to. the school in the post world which will do go to work of course any sane person would rather be french and british just look at a recent study that came out about facebook users seventy five percent of british facebook users feature photos of themselves drunk. that should tell you something about that country all the policy makers are drunk mervyn king is mostly in the bag all the people who are trying to do business over there in the city of london are for the most part in the abbreviated well some more french people pile on here doom and gloom i.m.f. boss says every economy is that risk as britain's credit rating is threatened. so
this is christine legarde she's the managing director of the i.m.f. and she's issued a stark warning to world markets by claiming the future is gloomy and every economy in the world is at risk her comments came as tensions between london and paris where heightened further after the head of france the central bank suggested that the u.k. was a candidate for a credit rating downgrade look no country in the g twenty has a higher jet to debt to g.d.p. ratio than the u.k. it's a thousand percent it's a fact the banking industry alone has debts to g.d.p. of five hundred percent times five times g.d.p. you're telling me that that is a bond market in a stock market and an economy you want to invest in and wants is a little big bubble burst in a few months and you'll see that economy collapse speaking last week lugard said there is no economy in the world whether low income countries emerging markets middle income countries or super advanced economies that will be immune to the
crisis that we see not only unfolding but escalating so here you have partly this war going on between france and britain and also you have going on max you have the i.m.f. seeking to introduce some sort of world global government by causing global fear well that's the of course christine is playing a two sided game here she'd love to bring in a world governance and the special drawing right as the global currency to replace the u.s. dollar now this of course should be protested against but who's going to stop them as a going to be the in the abbreviated brits i don't think so this. the job for the occupy movements and the protester time magazine person of the year to defeat this new world order initiative by christine lagarde of course so she can't be trusted as far as you can throw or you have but nobody can max and it's really this childlike behavior going on as the last resort when all else fails you throw mud pies that
each other on the playground right it's a roast beef versus the frogs going on so the final headline here max and this first half nicolas sarkozy obsessive david cameron acting like stubborn child sarkozy said cameron behaved like an obstinate kid with a single obsession protecting the city which wants to carry on behaving like an offshore center no country supported him and all the tories in the u.k. are big babies because they're all born with silver spoons in their mouth they never worked a day in their lives they got these public schools look at boris johnson the mayor of london that was the biggest baby of all none of them can be trusted they're immature they don't know anything about financing of the markets they take all the advice from shysters in the city of london and then the camera is on the way out he's not going to be reelected he's not going to make it maybe the doors will be but he's gone as a party later well this is an important story however max for the united states in the u.s. citizen and the taxpayer of the united states because one thing that is never
addressed here in the u.s. market is just how much london plays how crucial a role it plays in the fraud and the and the theft of u.s. investors and taxpayers all of a id fraud happened through there all of bernie made off fraud happened through there all of lehman's fraud happened through there and now all of m.f. global's for odd happened through there and i have some stories in the second half relating to what it actually means i am staying for the second i have that's fantastic so in the second half we're going to really dive into the u.k. as world headquarters of financial fraud no not that what i'm saying is that i would like to cover what. impact all of these fraudsters play what sort of role they play in actually decimating the livelihoods and life experience of people around the world what the result of all the fraud that we're talking about and the result of the in action the before the clownish behavior of start cosy calling
cameron an obstinate kid and cameron calling him a frog or whatever it's just childlike behavior when the real world crisis is real for other people it's not a fake story. don't go away stay right there will be right back. you know sometimes you see a story and it seems so please you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm target market is a big issue. max
kaiser welcome back to the kaiser report we're back with stacey herbert who is going to delve into the real consequences the personal tragedies as the result of banking terrorism we'll focus on these as much but let's get into it stacy yes well in the first half we talked about the global fraud going on with the bankers and this sharod these games of downgrades let's look at the actual real life downgrade the lives of people around the world and for to. in the us the scandal of the alabama poor cut off from water so you remember jefferson county alabama has filed for bankruptcy the largest in the u.s. history and what happened is they set out to build a three hundred million dollar sewage system and lo and behold walked in j.p. morgan with some credit derivatives to sell them interest rate swaps which turned
that three hundred million dollar sewage system into a three point one billion dollar sewage system so they have now gone bankrupt alabama one of the poorest in all the whole u.s. has also one of the highest water rates and all of the u.s. we're going to look at some of the stories tammy lucas is the human face of a financial and political scandal that has brought one of the most deprived communities in america south to the point of what some local people believe is collapse she says quote if the sewer bill gets higher my light might get cut off and if i try to catch up the lie my water might get cut off so where in between we can't make it like this so her average monthly sewage bill the amount levied by the county to flush away waste and provide water for baths and showers has quadrupled in the past fifteen years ok so what we're saying here is that banks steal money from the economy using derivatives and other fraudulent devices that have
their main mixes of transactions in the city of london. real people in real communities suffering real hardship as the result of this kone in wealth larceny that's happening and these folks are like bolivia you know their water supply was privatized by bechtel they eventually overturned that because they went to war with bechtel these days so these people if they look around the world for inspiration about what to do they need to go to war with the banks if they unless they want to be basically shut off like this. american indians were two hundred years ago into reservations and starve to death i mean that's what that's what goldman sachs and j.p. morgan wants they want to create a new reservation for these poor people well this woman mrs lucas she says that her water bill currently runs at one hundred fifty dollars a month so member the average food stamp amount that you receive is about one
hundred fourteen dollars so it costs more to flush it away then to actually consume the food you're given remember j.p. morgan runs the food stamp program so they have two ways to rip off the poor not only do they create a food stamp program that debases the currency and makes it impossible for anyone to break out of poverty then they use their other investment banking side to create ten times the municipal debt needed to put in a simple sewage system so these people are without a sewage system so they're living like any really impoverished poor third world country you look at haiti what's happened in haiti they had of course an earthquake that caused massive poverty down in these country counties in the south of america it was the earthquake called j.p. morgan and goldman sachs and this is part of the conflict that you see going on between france and britain as well because britain has adopted a hyper u.s. financial model the french people don't want that which is why sarkozy and his
ministers have to fight against it but this is the consequence this is the next step this is what you're going to see british people living like soon enough they talked to a guy who doesn't want to be named and he's one of the growing number in the area that now has a blue portable toilet next to it he says he finds it cheaper to buy drums of water from a petrol station and pay a cent to taishan company about fourteen dollars a month to remove waste from his port a potty then pay the combined sewer and water rate which some months can reach three hundred dollars exactly the british society and the british economy is collapsing due to the terrorists in the city of london and that's why the signal. from the looters that were out on the prowl a few months ago to number ten downing street was mis misheard they should have understood it as looters are trying to make a good point there that if you allow looting at the top expect looting at the bottom and you're destroying your economy by allowing this looting to go on david cameron george osborne so you reap what you sow my friend you know the water and
sewage rates were due to go a point two percent per year for the next three years but that is now more likely to be ten percent a year or more some are saying that it might go up as much as twenty five percent according to the court appointed receiver john as young so in response sheila tyson a community activist says quote these people are going to end up writing about this if they let this stuff happen they are going to get the biggest riot the south has ever seen over the sewer business i can see it coming oh absolutely it's a civil war is brewing between the rich and the poor and this is going to happen in the us it'll explode quite dramatically at some point i wouldn't dissipate and of course there are over two hundred fifty million guns in that country saw it add a little spice and flavor to it before i move on to the next example of what it's like to be a victim of fraud i want to note here the two tiered justice system going on because investment bank j.p. morgan securities in two of its former directors have faced civil fines for bribing
county officials at jefferson county where i was twenty one of the former commissioners and you know executives in the in the jefferson county have been found guilty or are facing criminal charges so there are two different systems of justice here if you're a banker you the most you ever face are civil fines the bankers are the madams they're the ones who are operating the brothel and they're the ones who should be charged first don't blame the the but the johns the buyers of the service of prostitution get rid of the prostitutes get rid of morgan and goldman and just b.c. and barclays and all those other banks get rid of the madams the brothels the drug dens the terror dens of those you say you're blaming the victim. you also work for the terrorists. well let's move on to the m.f. global fraud and see some of the victims there because
a lot of people have no sympathy they're saying that these are just the gambling sort they shouldn't bet money they can't lose and here n.p.r. speaks to a rancher to ski who is a rancher a small rancher has a cattle ranch and here is his story rancher discusses losing money with m.f. global the bankruptcy of m.f. global and the mismanagement of his clients' money is causing trouble for a lot of ranchers and farmers they were major clients of m.f. global buying futures contracts to hedge against swings in the value of their crops and livestock this is why to risk he says it's the opposite of gambling it was actually being more prudent in protecting his income so here that n.p.r. asked how do you feel about investing in the futures market now or have no problems whatsoever you know and i don't see how anybody could because basically what i openly on is that i had a segregated account with m.f. global they were the brokerage with the stroke of a computer to somebody you know and more money for cyberspace or more and i have no
problem going to go i couldn't have it any other brokerage. and i had a hedge account to protect my prices i didn't want to invest in european sovereign debt i didn't want to invest in m.f. global or i have nothing to do with their business they just store more money that's the bottom line you know i have to figure out how to get it back. you know explain something to the audience here about features contracts they came into existence really going back to their origins for the most part to give farmers away some of the risk out of farming farming being a risky business because crops are subject to wide price volatility as relates to something very unpredictable called the weather so farmers been able to sell their crops. but a future price today takes some of that risk out now there are people on the other side of the train who are going to speculate that and it's a by the price ok that's the futures market then in one nine hundred eighty s.
that basic industry that served agriculture was adopted by financial futures treasury bonds and currencies and that was the beginning of the meltdown that goes back to the beginning of financial futures they replace agricultural futures as the main driver of business and finance around the world now the tail is wagging the dog in the financial futures are pushing out the legitimate businesses like the farmer and saying well you know you don't put enough into this economy because we are now our cancer that is sixty to seventy percent of the economy is financial futures trading we don't need farming anymore we can always just eat twinkies you know we don't need you get out of the way so this is how the encroachment of the of the stock recy the worst amongst us as invaded the public domain and the general and real economy with their financial futures derivative trading nightmare yeah and just as the fraud at j.p. morgan is causing people to turn to porta potties throughout the south here is
a man who now has no access to his thirty thousand dollars and is a futures account which m.f. global's not returning calls he said he's not able to get any information at all nobody has ever called him the only information he gets is by googling m.f. global he has to search to see what the news that i watch the show yeah but or check out again j.p. morgan look at the treatment j.p. morgan has received from m.f. global in fact they had heads up they had early notice that the firm was going bankrupt and that's why they were able to seize all the client funds to make sure that their debts owed by m.f. global were paid off here's a man who has no way to get his cash if it's uncertain whether or not he can continue to exist as a viable business well that's a good point i mean the reason the money is not available to these customers is because the. person lending the money to corps on j.p. morgan is not letting any of that money back to the customer accounts that were actively involved with m.f. global is a j.p.
morgan is the one who let john corazon rack up forty to one leverage he he was going back to the window and saying i need more money to borrow from morgan and morgan kept lending in money then you would assume that that would mean taking a risk but when he went out of business they suffered no risk they went into the customer accounts and took it from customers so course lines of patsy for jamie diamond jamie diamond is really the lead bad guy and villain in this story but max also there's the c.m.e. group in normally in this situation they would have covered the funds they would have provided the liquidity for customers who had legitimate accounts there and chicago is the center of this is where the futures trading for real farmers and ranchers started since it went public a few years ago now they're only servicing the big guys like j.p. morgan and m.f. global those guys get away with all the crime while the victims of course are at the other side of the trade which are the real ranchers and farmers and that's like
the last of anything real production in america and if that goes then all you have is j.p. morgan and john chorus line training with each other and eventually they're all and on to some zingo related virtual finance game in cyberspace trading zynga dollars and taking their or their exhaust of their of their fraud public just dead for a few billion dollars trading virtual nothings for virtual nothing currency and one last quick headline census shows one in two people are poor or low income in america now fully half of americans qualify as poor or low income now all these farmers being wiped out via the c.m.e. group of m.f. global were one thing that did exist in the first great depression where many small farms which you could often get food they would help you out. feed you their cattle but now they're being wiped out and just going to be a one giant month santa archer cargill sort of big giant monopolist farm that
they're not going to feed you they're going to let you die you know it's remarkable i just saw a statistic is that not half of america is either at or below the poverty line but they just did a survey forty three percent of americans don't see any wealth or income gap here in america so i think goes back to that study that that came out just a few weeks ago that people who watch fox news are actually a less informed than people who watch no news at all since there were thank so much for being on the kaiser report thank you and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert you want to send us an e-mail please do so at kaiser reported r t t v dot are you done next on this is nice guys are saying by all.
welcome to the lone show where you get the real headlines with none of the mercy or can be live in washington d.c. now tonight we're going to take a look at what's happening in iraq just a day after u.s. troops leave fissures with the government are taking center stage as they call for the arrest of the vice president so did we really leave the country and he better off lawrence wilkerson is going to join us for that then as troops come home from war there's another issue to be confronted the more troops took their own lives in the last year than.
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