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tv   [untitled]    December 13, 2012 2:30pm-3:00pm EST

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thousand a cow is flagged as potentially suspicious activities that were not reviewed despite the findings the bank's regulator did not find the bank back then so they were already told that hey you have sixty trillion dollars and transactions that look suspicious. but in a way you could say that is our global financial system all transactions are suspicious really because a lot of them are very uncle advised by nothing but toxic waste oh yeah well it just b.c. claims that they allow themselves to commit massive fraud so one has to assume that somebody took an icepick janet in the c.e.o.'s brain socket and pulled out his brain and replaced it with some kind of remote control you know proclaim the whole drone warfare is conducted out of this guy's brain so people in pakistan and around the world are being murdered by an agency bank director because his actual national brain has been replaced by money laundering drug cartel mexicans and now he's committing not only massive financial fraud and i don't use that term lightly i'm not saying that as a. suggestion that he's committing
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a massive crime he's committing a massive fraudulent crime and he's not jail which means that this government condones crime and they wonder why the neighborhoods on fire because they have what is on fire because they've got the contract for the lighter fluid company so we said that these banks are too big to fail too big to jail and you have this pile of cocaine there in which the monkeys of the banking system are saying these are two c.e.o.'s at h.s.b.c. a walk over yes those are the two c.e.o.'s of those banks and i want to go back to two thousand and eleven an article we covered here in kaiser report extensively and i got played around the world because this was a very crucial little bit of information in an observer guardian investigation how a big u.s. bank one hundred billions from mexico's murderous drug gangs now they're referring to walk over to a bank which now is owned by wells fargo but it longer three hundred seventy eight billion dollars in mexican drug cartel cat. they paid
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a fine less than two percent of their two thousand and nine profits at the height of the two thousand and eight banking crisis and tonio ria kosta then head of the united nations office on drugs and crime said he had evidence to suggest the proceeds from drugs and crime were quote the only liquid investment capital available to banks on the brink of collapse quote interbank loans were funded by money that originated from the drug trade there were signs that some banks were rescued that way so if these banks are too big to fail too big to jail what about these mexican drug cartels or the italian cartels who are the ones who ultimately rescued all these banks yet want to put a much of drug cartel leader as the new head of the bank of england forget mark carney that hockey puck to the head brain damaged idiot put a mexican drug cartel leader in charge of bank of england because the economy runs on tokay this one runs the global economy the un has talked about it they mentioned
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it the bankers know about it on a sporting calendar snorting cocaine all day after strange things because they don't want to make it too obvious or stone not cracked in fat salt and as a result the ass off oh of these fruits and monkeys out there reporting to the regulators when they themselves are just enough fornicating little simians. says. see if fornicating little syrians there's a tweet from robert peston to read the b.b.c. as h.s.b.c. pays one point two billion pounds fines and forfeits for money laundering offenses who do you think pays the bill for banks since max who pays the bill well it's pays to austerity measures don't stare at me that people are suffering the people who are committing suicide in greece they don't suffer h.s.b.c.'s cocaine money laundering the people who are being foreclosed upon in ireland they're being foreclosed upon to pay for h.s.b.c. is cocaine money laundering and other people who are suffering all over the world who are being persecuted or being jailed or being tortured. the name because to
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support the money laundering activities of h.s.b.c. barclays lloyds the other of the big four banks them u.k. paper apocalypse that's the whole of there's no laws against it why don't want to drown up their shrink shrink why go after these terrorists no of course done because without the terrorism we wouldn't have enough money to supply the b.b.c. so that they don't report on it well of course other than the austerity measures here you also have tens of thousands of now headless mexicans they've lost their heads decapitated was a great thing about it just b.c. you open the camp there and you get in the mexican head you know it used to give away toasters now you get a dead mexicans head every time you open carry just the same well also we were across america but now also in the u.k. there are private prisons and they have contracts with the government that guarantee. bodies in the jail cells so because of that we have because the
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real criminals are dancing around in their piles of cocaine's that the simian bankers they're not in jail so there are spaces empty so they have to create fake crimes that normal human beings the. mere mortals have to be thrown into prison marine biologist could get twenty years in prison for feeding whales a california marine biologist is facing up to twenty years in prison and half a million dollars in fines for allegedly feeding a group of killer whales and then altering footage of the incident and lying to authorities this is nancy black of monterey bay well watch tourist i don't know she's been sentenced yet but this is this is from earlier in the year but what happened is basically her captain of her little boat in the whale watch tour whistled to a killer whale and that's against the law because that's harassing whales and she told him that this was he shouldn't whistle to the whales so he asked authorities a federal regulator if this was against the law and so the federal regulator asked
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her can i see the video footage because they videotape all their stuff and she showed only this clip so because she didn't give the rest of the clip she is considered to have lied to a federal prosecutor a federal regulator and this is a law against lying noone in legal circles simply as one thousand and one makes it a scrying to knowingly make a material false statement in matters of federal jurisdiction it's officially title eighteen section one thousand one of the united states code was a selective prosecution where you know forever whatever reason the the law quote unquote law officer on the scene was had a problem personal problem that trying to work out with this poor woman and the idea of a not feeding the whales of course is quite in contrast with what we saw here in london the london whale scandal here you have a guy who's called the london whale jamie. diamond was out there like some episode from flipper throwing a little minnows into his gullet saying here london whale commit massive securities
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fraud jamie diamond another massive serial securities fraud service is known as one thousand one it's you lie to any federal official any and the hundreds and hundreds and hundreds of people across america every single year are caught in this trap mostly unknowingly they accidentally had didn't know this person was a federal regulator and just a simple little lie about where their home was their water hoses is going it rather you know so they get caught in this lot while i have a story here that i want to show you that here's the too big to fail banks are too big to fail all across america and they've been caught lying in this next headline this next story i have to cover max mortgage crisis presents a new reckoning to banks regulators prosecutors investors in a series of file dozens of new claims against bank of america j.p. morgan chase wells fargo citi group and others related to the more than one trillion dollars worth of securities backed by residential mortgages so max they're talking about the banks are battling on three fronts with prosecutors who accuse them of fraud with regulators who claim they duped investors into buying bad
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mortgage securities and with investors seeking to force them to buy back the sour loans now the duped investors include the federal housing finance authority who oversee fannie mae and freddie mac. so these federal housing finance authority are claiming that j.p. morgan chase citibank bank of america all these banks lied to them so there is now there is a law that goes back to eight hundred sixty three that is used to trap mere mortals so they could use this against time bankers they need they own the president are saying and they need to put people in the prisons because they own a prison in the presence of publicly traded in their bonuses are based on options tied to the price of the prisons that are trained on the exchange that need to be filled up so they chop up these charges but these innocent people in jail while the perpetrators go from so estimates of the potential cost of these mortgage put backs in these crimes of three hundred billion dollars there's a trillion though in in bad toxic assets that were so. well to include an f.h.a. face and senate fannie mae and freddie mac. so that's a huge thing we're going to keep track of that over into the next new year but i
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want to talk about to fail not to bail that's what i've come up with not seem to lead he's to fail not to bail on the kaiser report because of course according to this three max keiser tweet did not seem to lead you still in london not sent to lead responded max keiser i ran away i was told you wanted to punch me in the nose right well he's afraid to come on the show because he has been exposed as not all salesman shall attend this intellectually bereft of anything meaningful to say but people like the b.b.c. and others put them on their shows because it makes them look smart because what he's saying is incomprehensible well to put this into context he was here in london pushing his book anti-fragile and he didn't appear on the kaiser report because he didn't want the questions here instead we don't b.b.c. newsnight the same b.b.c. news night that had the evidence of jimmy savile and his paedophile tendencies they fail to air it this is where not seem to lead to sides that safer than going on and getting a verbal punching in the nose right well
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a verbal punching actual punching come on the show and find out you say you've been working out check it out not seem don't be such a once ok stacey hammer thanks so much for being on the kaiser report thank you x. stay tuned for the second half i'll be talking about pirates two keira maya philips misfit economy dot com. and. use them to see the. destruction with and see. what could be just ruined. by a great sacrifice. understood by hate. yes it's. a remarkable reminder of courage and selflessness. putin is of more
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people. of the russian side. choose your language. with no if. someone.
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chooses to use the consensus get a. chance to opinions that invigorating good. quote choose the stories get into the lives choose the access to your office. for. the. little beasts in which brighten if you move a song from things to freshen it's. nice for instance on t.v. don't come.
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welcome back to the kaiser report imax keyser time now to turn to here on my ass philips misfit economy dot com carol welcome to the kaiser report thank you for having me all right here tell us about pirates what do pirates terrorist computer hackers and inner city gangs have in common with silicon valley well just the human
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instinct of innovating actually which is the formal world and innovation hubs across the world and very well resourced research labs don't have a monopoly on rights of piracy of a bad rap because they are really innovators a lot of ways you know hackers are similar you know steve jobs started as a hacker and so many of the technology today was started by hackers and you know what used to call piracy let's talk about piracy in particular what innovations have we seen emerge from piracy on the high seas well if you talk about if we think about eight hundred century pirates those that were very active during you know this whole called golden age of piracy which a few historians have determined being from seven hundred sixteen to seventeen twenty six so really just a decade some people say wasn't even that long. there they were we have a framework for the mystery economy and that is that innovation comes from three different places from the past from the present and from the future and all explain
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that further from the past is that innovation is cumulative so you have to build on it all world changing ideas need something to play with initially and they stand on the shoulders and that's either whether you take something that worked from the past or that works over there and making it work here or whether you take a system that you know very well but you see flaws in and you despise and you strive on that now the president is what we call the entourage effect it's particularly comes from research into gangs but also into pirates is that ideas need to connect and there has been you know a flurry of authors who have studied the history of innovation and have talked about how the myth of the lone innovator is exactly what that is it's a miss. and the third is about the future and it really all starts with imagination it's rational thought that allows you to get
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a done but if if creativity division comes from putting yourself in other people's shoes it certainly first of all comes from putting yourself in shoes that don't really exist yet and eighteenth century pirates the truth is that they did all of these three things ok so let's have some examples of what they innovated sure so in the innovation from the past they were most of them were disgruntled merchant deep sea sailors it was an autocratic system it was a very difficult life captains used their power to punish physically sailors quite often it's like walking the plank you set a tire that's actually apparently a myth as well that's a good way to maybe get some bankers in the city of london sort of plank over trafalgar square and have them just walk the plank for the public's amusement yeah that would be something pirates didn't do so. drats. so
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they develop they took that system so they took something that they hated and they innovated upon it they turned it on its head what they did was they were democratically wrote constitutions they elected their captains and they could depose them if they wanted to they had a common council every man on the ship was part of that common council they debated everything and it was a stock company there was no plunder no pay and it was a relatively flat pay scale as well no plunder no pay policy exactly enough plunder not pay so you're describing here is that during a monarchy all period the pirates kind of evolve this idea of a democratic society as a way to spread their ideas as a way to. democratically distribute the plunderers or as you're just as you're talking about it but it's it happens alongside. very entrenched monarchy system so that this is what drives the the piracy toward these ideas now of course the powers
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that be are always going toward a conformist society always trying to get people to conform and then bring in technologies you know surveillance technologies and these types of things to get people to conform more so that the pirate is really where the rebel in society is something that is without the pirate or the rebel you end up with a very gray dry conformist society current is that a fair statement well that's certainly what what would we believe we believe that you know people that we call misfits are the dark side is a wholly a lot more interesting you know innovation on the fringe really is what we call it is something that we are we suffer from if we don't learn and if we don't pay attention to it and it can be very a common comfortable all the asli sometimes to explore the dark side but it's something that we would gain from as you know our journey sort of into pirates they
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missed out on companies as part of the old pirates the somali pirates modern pirates i understand they also have exchanges they're listing themselves on exchanges they're driving a real estate speculation in neighboring countries like kenya so they've become a dynamic economic force in that region does that qualify under your scenario of piracy what it does what it contributes what we can look for there's certainly a lot we can learn from somali pirates the whole stock exchange story was after speaking to a few experts who spent time in somalia was a bit overblown. that you know there wasn't actually a building of trade they were raising money over rights particularly no pay no plunder to use a concept they they were using a stock market type concept or they were raising or the. you know south the east india company also was the first innovator in this also to distribute the risk of
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going out there and plundering if you well in that the conversation of the world that's interesting because we see piracy in modern days with technology for example on wall street in the city of london these are called high frequency trading where computers go in and they pirate funds from the stock exchange they steal money they steal booty plunder they planted the exchange using technology but they're not traders pirates they're portrayed as quote unquote market makers so but it seems though that under the definition of piracy they would be considered pirates it depends you know what is a pirate into who to me a pirate is someone who was brave enough to imagine an alternative reality not only imagine it but also try to create it and a pirate to me as someone who was a bound to a mission in a way that is very admirable and very rarely seen ok so no matter how to train or should should have a parent on their shoulder and then i patch over their head over i'm off to morrow
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to play the role of the noble pirate instead of trying to be playing the role of some kind of fiduciary responsibility economically sound mix of policies because they're just you know basically pirates and they should celebrate you know johnny depp should play lloyd blankfein and hundreds of wall street and celebrate their pirates pirate background the united nations says that drug money laundering cash which kept the global financial system afloat during the worst of the financial crisis of two thousand and eight was coming from the black market coming from drugs and basically piracy so this is where the only thing keeping the system afloat during times of stress without the pirates in two thousand and eight without the drug money without the drug cash there would have been a complete and utter global freeze of all money it's interesting to explore the role of the black market economy in a time of crisis right what's also interesting is to look at how they've a down. did to the global economic crisis they there was a recent piece in new york times magazine about this in a low
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a cartel in mexico in the way that they have strived really in a time when everybody is struggling and another ok but the describing because in large part banks like h.s.b.c. are longing to money. and barclays bank is engaged in fraud so during the change that the old pirate days were there similar bankers playing both sides in oh like for example during world war two j.p. morgan famously laundered money for the nazis during the fair during the high high campaign the high seas pirates where there are banks in london that were working with them directly what pirates did have were and this is what sustained them but at the same time i did them when it became very scary for these find answers to do it for pirates because the consequences were very dire they had people who were willing to trade with pirates and that was a lifeline for them and it was what they needed to continue and it was there in
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that the people who were trading with the pirates where they were they the banks on the in the city of london with a formal bankers where they were in bowler hats and what you know are mostly merchant traders who were willing and quite happy to trade with pirates but what was also very interesting is that pirates which shows that a lot of people actually did sympathize with them that they got a lot of intelligence you know don't go here or there's a convoy here and so it's very interesting to think sort of the robin hood character or that that a lot of players in the dark economy. get into character with them again the banks on wall street in the city of london for trade themselves as you know. i kept which is a market maker here in the u.k. throws an annual charity day where they invite celebrities in to get on the phone to pretend to be bankers and things so this is part of the propaganda to portray
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the pirates i kept as something other than parasites now let's talk about the victims of piracy because they also they are involved in innovation as well so there's there's innovation is run running in two ways in the in the case of banking piracy you. for example the creation of peer to peer lending then work completely outside the banking system so it's an innovation to deal with pirates and barclays h.s.b.c. and lloyds it was also true in previous centuries well it certainly drove. a huge amount. in a sword navy pirates were very very scary to the point where some navy captain student want to go after them they refused to go after them actually the man who killed blackbeard during his last battle was knighted just isn't illustration of just what an achievement it was to catch
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a pirate now so i would say that it certainly was something that was very high on their minds and they i would assume and i can say this with certainty that it did drive a sense of perhaps military and merchant innovation with their attempts to counter the forces of piracy oh take. care of my the misfit economy dot com that is a keeping tabs on the what's happening in the pirate what's happening at that site well what would there's we are hosting a blog but the misfit economy is a book that will be published by simon and schuster very soon and not by unbound which is a p.d.p. site that raises money for with from pirates for going or i'm unsure as to why don't we well you know one of our where of our message is is that as much as we need to co-opt the dark market you know we've got
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a fuse both with with. ideas from both sides that's what we believe in the fusion of ideas are i care morrow out of time thanks so much for being on the kaiser report thank you for having me all right that's going to do it for this edition of the kaiser report with me max ties are and stacy herbert i want to thank my guest karen. going to send me an email please do so at the reported r t t v dot are you. saying. download the official application. choose your language stream quality and enjoy your favorite. t.v. is not required to watch on t.v. all you need is your mobile device to watch r.t. any time i did.
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