tv [untitled] May 17, 2012 11:30am-12:00pm EDT
seven thirty pm in moscow these are your r t headlines make up or break up britain's prime minister issuing a stark warning to the eurozone to take urgent action or face collapse david cameron about to protect the u.k. whatever happens to be a year old but insists it's in britain's interest for the single currency countries to sort out their issues. syria releases names of alleged foreign terrorists in its custody as the rebellion gets boosted by arms from abroad but there's a split at the top the exiled syrian national council slammed by the opposition committees in syria with the s.n.c. chief said to be stepping down. israel steps up the palestinian conflict reportedly
shelling gaza wounding seven this is tell of these pushes ahead with efforts to barricade itself against arab neighbors. report next stay with us. max kaiser this is the kaiser report the war against financial terrorists like jamie diamond and ben bernanke will be one in places like this the global nerve center n h q of gold silver dot com here in santa monica california stacy herbert talk to me max everywhere we go here in america we see debt pushers and the result of their over debt pushing they're pushing this debt crack on people who are just dropping dead all over the street so i have a headline here that is going to put into context and explain this bigger debt pushing story the most dangerous drug in the world devil's breath chemical from
columbia can block free will wipe memory and even kill scopolamine often blown into faces of victims or added to drinks within minutes victims are like zombies coherent but with no free will some victims report emptying bank accounts to robbers or helping them pillage their own house and this is taken from the get you drunk tree in colombia yes well you could on the name for that financially speaking would be served or it creates financial zombies like japan for example many zombie banks are roaming the countryside on high on zero percent interest rates and this is a plague around the world bankers and central bankers high to the gills on this zero percent interest rates they don't need the scope in scope policy tama whatever this crazy drug is you just listen to the federal open market committee and ben bernanke is testimony before congress gets totally exuded on this kind of zirp and you often talk about the casino gulag model where people go in and they think wow i lost
a million dollars but they gave me three free drinks and i had a really good time one victim of this scope alina. in colombia she took the man to her house and helped him gallagher all of her belongings including her boyfriend's cameras and savings she said quote it is painful to have lost money but i was actually quite lucky. oh it's like george clooney here in los angeles you know he invited obama to his house and he put some mojo photo on him you know pixie dust in his eyes some scopolamine and he's a zombie now raising money for this a front man for the dangerous central planners and cartels. but again using this as a metaphor for the debt pushers is a lot of americans will go into debt and basically sell their children's futures and say well i'm quite lucky because we have this s.u.v.
in the parking lot to those dead horse in the parking lot trying to score some more money from j.p. morgan and there's jamie diamond chief crackhead in chief selling that skull pulling debt on the sidewalk well in fact i bought this new shirt just yesterday here in santa monica and the woman selling it to me who must have been making what seventy eight dollars an hour she was very smiley and happy she seemed quite happy with the fact that she had this job selling me a t. shirt and she revealed to me that she had just graduated from university on which she spent one hundred fifty thousand dollars for a marketing degree eighty thousand of it in student debt i know the store that's right got the suit didn't pay a nickel for it told her that it was all the better interest of the greater good if she simply let me walk out with as many clothes as i want saying that she gave that zombie look like she just got the crack from from jamie diamond is a great. well in this story about the devil's breath this drug in
columbia that you just can blow into somebody's face and they turn into a zombie and give you whatever you want they talked to a drug dealer named dimentia black he said the drug turns people to completely zombies and blocks memories from forming so even after the drug wears off victims have no recollection as to what happened and that again we have no recollection of what happened that our nation is fourteen trillion dollars in debt we have no recollection as to how our federal reserve has trillions more in debt we have no recollection why we are so in debt jamie diamond's name is dementia black and blue because he is the blue. logo from chase right and they have no memory of the last quarter when bernanke you were in front of congress and said the debt ceiling was just breached we have to raise the debt ceiling then the next quarter it comes back and says all the debt ceiling is breached you need the debt ceiling the how out of that up but i don't remember did it happen before the river bridge the debt ceiling
at all must be the dimension black and blue that jamie dimon blew in my face the last time he's over in congress and lying through his teeth because the guy's a terrorist well exactly i mean ben bernanke he claims he's a historian of the great depression and yet he has no recollection of what caused the great depression and continues to do the same thing that happened back then but he claims i'm an expert on it will get a job done in colombia. i'm sure we'll see an end up on one of those news stories about the well i'm going to go into that news story about the mexicans and the headless people on the border that would be too you know crude for this show so live that your imagination but you brought up that you brought him to mention black and blue who it is matt. who is not same exactly well former long term capital management terrorist magazine's assumes the reins of seventy trillion dollars in j.p. morgan's exploding fin crap which i believe is the word you made up i coined that word financial crap or offend crap. apparently this guy for long term capital management who you recall blew up the economy back when greenspan was the federal
reserve chairman and they actually to lower interest rates to bail out these yacht owners in connecticut so granny's around the world got less that month so that these yacht owners in connecticut could you know be bailed out of their losing position he was involved so now they got rid of the crud on their trading desk in london being replaced with this guy these are he's a known financial services go to the post office you see his face on the wall that's where they're recruiting from known financial journalists oh yeah they like i said this drug this devil's breath drug from colombia people totally forget they become zombies they don't remember a single thing of what they all the mistakes they made how they came to have no belongings left in their home the fact is they handed it over to the drug pusher but they have no recollection of it so how do we keep on hiring the same people who blew up almost blew up the world economy that was the first time we almost blew up due to derivatives and the martin gal betting technique of doubling down doubling down and this is what has just happened out of london is j.p.
morgan double down double down double down and now they're trapped in this position where they still have those positions open and you mention them are betting system and it has been mentioned recently and this is actually an important issue to consider if you go to the casino put one hundred bucks on red and you lose and you're going to make it back by betting on a red again and you do this ten times in a row with one hundred bucks do you know what i would say on that eleventh bet to get even two hundred thousand dollars and that's how quickly you know jim metric the exponential growth in risk happens on these desks whether shaping morgan or elsewhere on wall street but instead of any accountability whatsoever. or they simply inhale the devil's breath they engage in selective amnesia they have no memory that they just blew up some county in montgomery county or some other country like greece and they think we're going to get lucky this time they're degenerates or gamble hall exist should be in a program for debt a hall of them and now the article about the colombian drug says the experts are
baffled as to why colombia is riddled with these. mean related crimes and it's the same thing here they look around and they seem baffled by why is the economy so bad why does why are people unemployed why are there. fifty million people on food stamps we don't know and it's the same sort of experts are baffled because the zombie nation vampire nation and so when you're in introduced into that cult you then believe all the ideology of that cult ben bernanke is a cult leader he's putting forth this message like charles manson of getting people hold on this nonfunctioning economy as a way to express their inner psychosis yes and well they go before congress the likes of ben bernanke here jamie diamond lloyd blankfein and they blow this debt drug all over everybody and they forget they think it's all great now us consumers increase their borrowing in march twenty one four billion dollars largest gain
since two thousand and one so total borrowing rose to a seasonally adjusted two point five four trillion dollars that's slightly below the all time high of two point five eight trillion reached in july two thousand and eight eight months after the great recession began but here's how they describe it here max more borrowing is generally viewed as a healthy sign for the economy it is a healthy sign for the economy that's based entirely on borrowing and consumption with debt for a population that is increasingly becoming less educated and more in the throes of the ideological cold masters who give them the devil's breath and the and the seeds of their own destruction and that's exactly right it's a beautiful equation this is the this is the vampire model if you clamp on somebodies neck and you suck out all their blood and now they wake up in the middle the night looking for other people to suck on their blood then you're a success. and it continues it suggests consumers are gaining confidence and growing more comfortable taking on debt but as we described with this devil's
breath if you blow it in people's faces they're being led as a zombie i mean. here we are in los angeles and even percolates up to the pop culture this is why we have a movie after movie featuring teenagers zombie and this is an attempt to get teenagers to buy into the ideology of being perpetually in debt for the rest of their lives so they can support the cult masters and the devil's breath wielding psychopaths at the top whether it's bernanke here dime in the black and blue dimension man himself there in new york city driving the entire economy into the grave you know a lot of people out there will say well you know those people are the bad ones they're borrowing their and i'm saving and i'm buying silver gold i'm protecting myself and yet when you look back at the jamie diamond and the seventy trillion or ninety trillion as some say there derivatives book that is apparently being doubled down every week. that debt is being blown in our face like this devil's breath
because ultimately it doesn't matter what you do as a responsible individual jamie diamond is there with barack obama and says give it to them give all my bad debts to those people so whether you want it or not your this debt is being blown in your face right and every thirty seconds somebody calls into gold silver dot com here in santa monica california and they say i want protection against this cult of vampire snobs and schmucks i want to buy silver they want the silver cross they want the silver spike lee way can get rid of the zombies and vampires is with the silver spike the silver bullet as it were for those who want to get a little bit more aggressive and finally this is a story we're going to cover a little bit more extensively very soon it's another silver spike against team a demon. and that's the wells notice why this is important because while all of this giant you know well two billion dollar loss out of their london derivatives desk well all that stuff is going on
a while jamie diamond was over there on all the sunday talk shows saying oh we made a little mistake it was a little egregious mistake well terry bull who often comes on the show did a little research and looked at their ten q. and their latest statements s.e.c. tells j.p. morgan enforcement action coming over bears mortgage backed securities violations so j.p. morgan's latest ten q. states quote in january two thousand and twelve the firm was advised by f.c.c. staff that they are considering recommending to the commission that civil or administrative actions be pursued arising out of two separate investigations they have been conducting so this opens up all the civil litigants against j.p. morgan to discovery they're allowed to now get a lot of the said oh that's right nine out of ten hedge funds with any kind of performance are now short j.p. morgan stock all right so you're with thanks much for being on the kaiser report thank you don't go in much more coming your way stay right there. in the.
maestro here gold silver dot com mike welcome to the kaiser report it's great to be here max thanks all right my here in my own office this is the nerve center for the battle against the shysters now mike maloney everywhere we look in the financial system in the economy we see fraud greed just mistakes vaporized funs austerity money printing are there any other reasons to own gold and silver well yeah every thirty to forty years the world has a new financial system the dollar standard is approaching forty one years old you can see these manmade systems blowing up right now in europe said in my book the euro cannot last you can't have all these different countries setting your own monetary policy and sharing one central bank it's not possible ok you mentioned europe let's talk about europe the euro is obviously under a great deal strain greece now openly talking about getting out of the out of the euro so how would this impact the global banking system because it might like
another lehman brothers type moment. well i think it's worse than the lehman brothers type moment you know the other times that that transferred from one transition from one monetary system to another they were just little baby steps off of gold we used to use one hundred percent go back in for the currencies and then federal reserve act in one nine hundred thirteen lowered that to forty percent reserve ratio reserve go back in the currency in the united states the bretton woods system basically all the different currencies were backed by gold through the u.s. dollar and now it's just that's not backed by anything except the promise of future taxation it's backed by bonds which have to be paid out of our future taxes so we're borrowing prosperity out of the future to spend it today and you're seeing right now this borrowing going exponential it's going to implode one day and when it does the people holding currencies will have
a different dollar it'll probably be a gold backed dollar or whatever but the currencies that are on back go to zero and the wealth of those people is transferred to the wealth of the people that are holding precious metals they mentioned back in one hundred thirteen the dollar was backed forty percent by gold now sense this time and especially the last ten or fifteen years it's been an explosion in derivatives and other credit instruments that have to be accounted for one way or another if we go back to some kind of gold backed currency let's say we go back to forty percent gold back note currency. at what price would gold have to be to clear all those hundreds and trillions of dollars in the system my first estimates anywhere between five to ten thousand dollars an ounce and higher what are your thoughts on that when i wrote my book in two thousand and eight came out it required what we've seen as in one nine hundred thirty four and in one nine hundred eighty the value of gold at the treasury rose
because of the price change to. match or exceed the value of the currency in circulation the circulating medium. and in one nine hundred eighty i include credit card debt because when people make a charge on a credit card they're creating a dollar that didn't exist when you pay that dollar to a merchant checking account his checking account can't tell the difference between paper cash or these credit dollars that you created when you charge on your credit credit card. so i add that to the circulating medium and gold exceeded both base money the paper cash in circulation plus outstanding revolving credit in one nine hundred eighty it's doing so again but right now it requires a price between fifteen and twenty thousand dollars an ounce and even if you don't include credit card debt it requires price over ten for the value of the gold the answer is that the treasury to meet or exceed the value of the currency in circulation so it's a process that has happened over and over again i have you know we have charts and
graphs that we've got the data from one thousand nine hundred eighteen this is happened thousands of times over and over again since the first great inflation in athens and for zero seven b.c. i'm going to ask a question really on the societal level the bank that j.p. morgan their london desk blew up they lost two billion or twenty billion depending on how you make the calculation they got rid of some of the traders there they're replacing the traders in london with someone from long term capital management who is involved of course in that huge debacle which was on the history of huge financial catastrophes all based on you know that they are rooted in the same risk misperception that the bankers have analytic tools to manage risk they don't jamie dimon can't manage risk his bank balance sheets at risk he's he's he's out of control what do you say what does it say about a society in america where these lawbreakers these criminals they are just they
keeping recycle not only are they not get thrown in jail. but they keep are given job after job after job but as i say not only about the economy but about that but this country. it's pretty bad i mean it doesn't bode well for the future of this country because we do keep on promoting if we find somebody incompetent we promote it and you know you look at the people. for instance running the treasury. and a lot of the presidential cabinet you find somebody that failed miserably and you give them a bigger job to do. and i don't think it bodes well i think that we're going to there is there is going to be within this decade the greatest financial calamity of all when it comes to our freedom this is what i worry about most i'm seeing a deterioration in the united states and more of an intrusion of government in our
private lives what is this notion that the solution is either austerity or money printing and they never talk about well maybe we should arrest the criminals why it wasn't all about i b because the rules are being written by the criminals ok well enough said i mean they they they have captured the system and they run the ok now might well be everywhere we look we hear more and more voices calling for money printing citigroup's chief economist at central banks can and should crank up quantitative easing everything under the sun and do the helicopter money drops so again at a follow up on the previous question of money printing versus austerity in the us it's money printing the helicopter drops it has and it's not working and hasn't worked citigroup economist is making that the notion that the idea can work what are funded let me ask this intellectually where it worries you drawing from that he then he can even make a statement like that what theory is she believes it is a keynesianism what does he what how did he get so misguided keynesians. seem to
think that you can stick there's this big economic cloud out in space and you can stick a straw up there and sort of draw energy into the system they don't realize that it's a closed system and that when you print currency you're actually sucking economic energy from one area and expanding it in another and that's when all these misallocations of capital and disequilibrium build up and then the whole thing eventually explodes but one thing about a monetary system where you borrow every dollar into existence and then you promise to pay interest on that dollar that exists there's always more debt than there is currency in existence to pay the debt on the currency and so with a system like this you can't live within your means and pay down the debt if you do you collapse the currency supply because you owe more than you have so you always have to go deeper and deeper into debt under this type of system so the people that are talking about. living within our means paying down the debt it's impossible we
have to go down this road until the whole thing implodes ok let's talk about a starter for a second because that's the other side of this discredited argument austerity it as it's being rolled out in europe it's causing deflationary spiral in spain and greece you've got mass suicides hunger perhaps revolution so obviously again we always come back to the same notion neither side works and yet there's no willingness to put the bad guys in jail except in china and china the report there it's interesting that when they catch a banker doing bad things they execute them i mean what your thoughts on this is this is a bit over the top or no that's a good law to adopt worldwide. so that would be well i can't i can't argue with the there now one of the things that we hear from people who are afraid to buy gold and silver is that the government might confiscate it. should we be more concerned about this after especially j.p. morgan stole that money from the m.f.
global customers what are your thoughts there. well i own personally just physical gold and silver when you hear the word confiscation it's usually coming from the lips of a dealer that is selling some overpriced numismatic coins the common they talk about confiscation when roosevelt signed an executive order requesting american citizens to turn over their gold to any member branch of the federal reserve and they bought the gold from you they did not confiscate it it was a nationalization of gold and they put it all in one place for it to be held for interest for all of us that's the definition of nationalization and so they nationalized gold and gold they did not confiscate it so that is just a myth if the us government for instance if obama were to sign an executive order nationalizing the gold one again then i think traders around the world outside the united states would start dumping dollars because they would know there's something wrong with the us dollar and they would buy gold and so it would be like signing
a death warrant to the u.s. dollar if obama did that so i don't think they're going to do that if they do it it's probably going to be in the middle of a hyperinflation where they don't care and at that point your winnings already would be huge you give them your gold and buy some other asset the wealth transfer will be over with by that point so i still believe currently in buying gold and silver that's what i do i might want to very successful businessman here in santa monica california your governor has announced that the budget deficit has soared to sixteen billion dollars what's going on in california is going to go the way of greece and spain talking about the regional economy here. yeah but we'll get bailouts quicker than greece and spain are getting bailouts i don't think you're going to see california go under but. you know the whole system is ridiculous it's the system that is the problem not these individual symptoms. the president
barack obama was harry raise a lot of money and had a fancy fundraiser i think george clooney was there he raised a lot of money there seems to be a real disconnect with the intelligentsia of this town the stars as he as they're called with the underlying forces that shape the economy there's seems to be a real misunderstanding of what's going on and it seems as if these folks are really concerned about the future and they would focus more on some of the criminality that's going on on wall street how come not a single heavyweight hollywood star has come out against the banks toure's by asking that you're in california you're in l.a. what's up with these people why were they so ignorant of this fact or are they are they can look like you know i think they believe the mass media and the news here isn't in the united states the news isn't it's reporting a biased view of the truth. and so they believe that what they're doing is right
i'm sure all of these hollywood stars when they're raising money for this candidate or their candidate but they don't know the economics behind the situation even though the very notion of what these banks are doing booking profits immediately and amortizing losses and definitely is in fact the definition of hollywood accounting that started here it's now global maybe that's the reason it's their own it's their own it's their own system that's gone global for a fake accounting. yeah i think that's what it is we've got fake accounting everywhere and you know this is it's good for the banks and bad for everybody else mike maloney thanks so much being on the kaiser report thank you so much max all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert and with my guest michael owen of gold silver dot com going to send me an e-mail please do so at kaiser report r t t v dot ru until next time x. guys are saying. home
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