it's beyond a step chancellor angela merkel told me original latest on monday to discuss rising infection rights in the country. ok coming up next here how big financial institutions are trying to monetize that synonomous to get its documentary lords of what i'm actually held in berlin more headlines for you in 45 minutes time. we're all set to go. to citizenship. as we take on the. we're all about the stories that matter to. put to sleep in front. of. you fire make.

goods of war we funded by water was. destroyed while. the record breaking. today more than 70 percent of the earth's fresh water is used for food production water has become the most coveted resource on the planet. to save humanity the financial world has come up with a revolutionary idea wall street wants to trade water as a commodity like oil or gold. water falls from the sky therefore should be free whenever i hear that i always say diamonds are current nature and they're not free. it's a financial product like any other financial model. you know the way the sun ran i

want to believe one of the boarders monocoque almost like a little modest not it just the beginning to support a financial revolution. what about the guy that can't afford it. guys tell me it's water. the blue gold rush has begun can anyone stop it. became a right to water means that it's not a charity it's an issue of justice. this is the issue of our time this is the crisis of our time. with speculators pitted against protesters 'd the battle over the commodification of water has already begun. who will come out on top of the planet the people or the markets. with. the rule

lou. the city of london is a global financial hub. this is where the relationship between water and finance 1st began 3 decades ago. prime minister margaret thatcher was seeking to revive the stagnant british economy with market based reforms. water was among the targets of her drive to privatized public services and the station is on the nose of the times more time in the benefit of the elimination of eyes looked on in their gods of hybrid cars nation i believe will go down. he said sadly indeed.

what happened was the entire system the entire physical system as well as the concession was sold to the private companies. one of the 1st think some of the companies to it was to start cussing off. to people he had paid the bills. one company for example disconnected 11 fails and customers and the source the company was concerned. they could stay disconnected if they didn't pay their bills they didn't get any will so. they say always come back now they've totally gone. time you think i have to make this day that they just come down to. the end of the floor thought. i mean you could have

drank but it just took the. we didn't need mexicans for this during the last. us hate myself is this just the. person that look at perspective but doesn't look at can careless if people devoid of color really that's not a joke their job is placing relief to live very well. finally 10 years later a law was passed prohibiting companies from cutting off the water supply to customers who hadn't paid their bills. but that wasn't enough to deter the finance years on the contrary in the early 2000 and new generation of traders dip their

toes into the world of water. private equity funds also known as vulture funds. unregulated and unaccountable they are literally above the law. in london thames water the distribution authority that covers 20 percent of the country was acquired by australian bank mcquarrie. i was aware of mccoury i mean they were quite a famous institution in australia where they've been known as something i think they were called the millionaires factory because so many people who worked at macquarie became very rich as a result of the bonuses that they had. but cory were one of the 1st private equity is to save face a good place is to believe one of the simple reasons for that is if you have

the is going to population growth. if this population growth is going to move water dr. david hall is the man who revealed this water scandal. in 2017 he published a study in which he detailed 30 years of abusive practices. rising belle's soaring dividends to shareholders and tax evasion. a caricature of finance capitalism. we ended up polluting a belt 2500000000 pills. was being taken else of the system but private capital no 1000000 reason for that was that the dividends.

were very very ridiculous so in other words these companies were perfect cash machines they still they still. everybody believes correctly. that we are being swindled by the world cup. mcquarrie supplied london with drinking water for 10 years. their parting gift when they sold their last share and 20172000000000 pounds of extra debt. today more than 80 percent

of britons say they would like to go back to a time when water was a common public and essentially free resource. and iran that appears to be slipping beyond reach. australia the hottest continent on the planet on the frontline of climate change. here drought is a part of everyday life. in this parched landscape australians are becoming acquainted with tomorrow's world. a world where water is a scarce and expensive resource.

and is a dairy farmer who lives in new south wales one of the driest regions in the country . for many months now his reserves have been empty. the only way he can feed his animals is by buying extra water from the private sector. although you know thank you thank. you di serrano just for more kale and it cost me close to half a $1000000.00 for 12 months of boredom $500000.00 can you afford that it would put a great deal this trying on us if we if we get a great deal of strong. thanks thanks but we

know if i'm in the last 3 months it's already $1000000.00 on board up. a storm could come straight from our walk at all and. so it's there spent the money but still a game where the whether it's going to work on. which calling up base became the chaos a lot of goals we afford to ward off to grow crops for the chaos. we can't afford a real lot of grinding out there getting very little or night growing at all at the moment. side they're producing. 50 percent less than what they should be but he's told me. it's just. so volatile my. drawings of all i keep going. and i am trying you know the other end of it.

water has become like gold. it is bought and sold with a single click with the help of a mobile app that monitors the market 24 hours a day. its price fluctuates daily depending on supply and demand. it's there one can touch it in panama fading or. even. not let money. once the transaction is approved irrigation channel downs open automatically and pour out millions of leaders to customers. those who can pay.

people are just taking water from us and it's tightening our laws exciting effort from a title or. why are we doing it is we make sure the rivers of full and that we don't have to go back onto that i can market to buy water again will it happen. we've got. a multiplier russian roulette which. to combat shortages the australian government has moved to ration water each year it allocates a quota to major water consumers farmers and dust realists and cities. the calculation is based on consumption existing reserves and weather forecasts.

in addition to this new law called the water act water trading markets have been created on which anyone can purchase additional rights or sell some of their own. stories in just 10 years the water business has become a new eldorado with a turnover of $2200000000.00 per year yeah i am 1st thing. water find is the world's leading water stock exchange. it works with the mega leader a unit of measurement equivalent to 1000000 liters. some he called me the water mark upon me. like to cite that i'm a pawnee here in the world. prices to die around

$500.00. later all i mean late is is it expensive is i think it's. what soft $100.00. 300 euros 350 euros for 1000000 liters of water i'd say it's pretty cheap when you look at it from that perspective. isn't it a good thing that we finally putting a value on this resource because in putting a value on it we're going to respect that will. in this new world every drop counts. water is no longer a natural resource but a commodity. bernie.

rayno go behind my brain don't run 3543 if they take 5050 i got a yeah we better go then i say even i had a non 810101020 bucks when i got here if you know what freddy got an id it rendered 204050 party ordered when i want to leave here and man i think i'm going to think that the 500 out of the way out and 5 my car behind her are going to find it or would it still if we did it with a good deal. that no one says and. i had on her for that one out of the one so you still can and will use when you sold on to it yeah i know it was there but you've never been a nudist over. the water crisis and soaring prices have forced david owen into bankruptcy. he has to sell the family dairy farm

joining a long list of victims of the water markets oh don't let me know that if i'm going to fund living right. on. the end of the new year i'm going to be specific golmaal off. 10 kilometers from. your special dog. you look at the cash lives for the last 12 months of 4 years ago when you realize you're spending more and more water and then jenny said to me. we can't keep going on a lot this. that publicising wasn't very nice. 3 more dishes in the. in

the sink and stump they out there. as very emotional. it's made law it is probably not as much emotion as slight or wrong when we showing caleb's let them tell you who i admire the reason they were a grandmother great grand world they're so small they tell me you get over. here you know and i will write down 558 is that you know. initially farmers welcomed the creation of water markets energy. big agricultural players saw it as an effective way to buy water whilst others plan to supplement their income by selling their surplus we didn't want to break it again we got to run but really if they break down here come

a 10 years later the markets have become ruthless or if they want great time at the rate that you know a lot. of us might there's lots of people that done understand what about on the same water market just. the chicane followed all the talk of the start of what's happening and i don't think a lot of us know what's happening in the water market. alicia buoying you know a look at the water market because lots of farms around a depression. so special looking forward to think oh all day i will go there it's going up. through news on extreme alerts as searing temperatures put emergency crews on notice and authorities ready to answer any magic process records fell today and more so it's a tumble tomorrow with at life forecast to hit 45 to gray's nudging the hottest day on record for the city was the 1st wounded wife happened to. adelaide in southeast

australia the driest city on the driest continent on the planet. adelaide serves as a think tank it is here at the university that the idea of water trading was conceived. i mean some ways you might get 0 water so they said nobody can take it in the water so you're going to have to find a white. share. mike young is the founding father of the australian water markets a renowned economist he attended harvard university and has advised of the united nations. this is the man writing the new history of water. wars scarcity is really think so water scarcity is part of the future of the world

to global predictions that by 2015 more than half the world will be living with limited water resources and abundance is a thing of the past. water there used to be manning is very precious why. why is it drives innovation that make sure our water goes to the best use as it possibly can so we make money and feed ourselves well. and that lead to the interest in water markets and drive a revolution. the revolution started by mike young has turned climate imbalance into a market force. it's fascinating to see how sophisticated our water markets of account if this rain forecast in a week's time the price of water will go down because farmers now they won't have

to irrigate if it's going to be really hot for the next fortnight seein the price of water goes out. each. week. and. mike young has opened up water markets to all farmers municipalities small investors and above all professional traders. or. nowadays everybody can buy water on the stock market for consumption or simply as a vehicle for speculation. when water becomes scarce and i suspect some skin in somebody has to stop using it what markets do is they. discover and

reveal the most appropriate people to pull out of agriculture as it is from making cars as it is for lots of things we live in a competitive world. australia's new lords of water live in melbourne one of the country's business centers they are bankers insurers pension and investment fund managers and they are gradually taking . control of this blue gold. i don't need to i let you know would i lie and when would i consider it yes but i'm not a farmer i'm an investment banker how much did you invest not much maybe $20000000.00 . the price of water has doubled but in the next 10 years it will double again because of intensive agriculture.

nicknamed the water bandit david williams rules over his empire from the 45th floor of an office tower. as an owner of expensive water reserves he rents his water to farmers as others would rent land. and his future looks bright. if we go to 9000000000 population and the chinese want more food in the indonesian one more food in the unions one more food and they can afford to pay for it then we 1st need to find more intensive ways of granted that means more water. and that's going to leave you smack bang in the hay get there all in a price of how you allocate it and how you regulate it.

but the being the best on war it's getting back to the ol guys of the land molds and the peasant farmers and if we want to survival's dying to it we're going after bars of order what landlords damed the war as well back to the middle i just. water was the last remaining natural resource to have escaped training. 'd 'd but australia has pulled the plug on that exemption. because water offers an opportunity for greater profitability and wealth. on behalf of my people. just land in this water.

water for me and my people should part of who we are. 'd 'd it's a part of our story our creation story. today is different. australia has gone ahead and implemented water markets yeah how do you look at that we don't like it very much. we don't like it at all 'd. but. i don't need a movie and why don't we begin in the ninety's and then a lot well good scene where to find out everyone else everything ok i think i'm on one level of benefits and i'm on my. salary

trading what is your. feeling at games and. making sure that you quit you're. making sure that no or a nurse takes your. part of it. most of the greek. * * * * * greedy people. * they want the wrote a book or 4 books. * and they're selling to the real. economy money. the congress money. through. again congress are already pretty hot and very different but they've got a modern economy time. time in the car and brisco and all but over and over to

greet your children here and. it'll. be all the time. you. took. if you thought the hot weather was bad this weekend just wait until tomorrow the 5th day of our heat wave is expected to be incredibly uncomfortable and potentially dangerous and they can merely an arena on civilians moving in from the midwest where they've been dealing with the sweltering aids but now it's moving here to the east coast secret stick around for several. days coming. your way make water a commodity listed on the stock exchange bet on its price what if wall street copied the australian model. ever since the subprime mortgage crisis when bundles of bad debt destroyed lives and countries finance giants have

been looking for new investment opportunities. in june 2008 the investment bank goldman sachs began wondering is water the new oil the firm as the bank is known encourages top clients to take a gamble on the future. goldman sachs the conference that was me i used to work at goldman sachs and in 2008 that was a conference that i held there's this absolute into it of the peel that says population growth is outstripping the water supply that must mean companies are engaged in the water business are a sure thing that there can't mess they get nasm rise by these mega trend appeals and water. is water at the next oil. the question is not going to go away we're just probably not ready for it yet.

in the developed world for the last 100 years we haven't had to think about our water or worry about water it's been essentially unlimited where ever we want it whenever we want it it's been really inexpensive no one thinks about their water bill they don't say oh take a shorter shower the water's too expensive i think that era is over. climate change is going to have a huge impact on water availability around the world the same amount of water is going to be available in the big picture but we don't live in the big picture we live in a specific place we raise our food in a specific place and so the movement of that water will have a dramatic impact on how cities manage their water and how we are able to grow food to feed every. the climate emergency demands radical changes.

when it comes to water wall street is poised for a takeover. in 827000 report citi group one of the largest u.s. banks announced the end of 3 and cheap water. is no alternative to pricing water properly making people realize that every time they take a sip of water there is an opportunity cost and they feel it in their wallet how else are you going to get people to use less if you give it to free. the dam has broken liberalism celebrates free markets its proponents are pushing ahead with plans for a union of finance and water you're going to see acid markets. selling water divot

is even the high frequency traders their funds would become interested so know everybody sees this as the opportunity did will come the question is just when and who will push it 1st and hardest and what would be their motivation in coming profits well also you know. indirectly doing good for humanity so it's a best of all possible worlds it could be better but isn't it very immoral to trade water to be immoral to trade water because water is life you pay for health care just because it's life doesn't mean it cannot be priced.

a decisive step in the commodification of water happened in december 2020 when wall street began trading water futures. the futures are tied to the nasdaq velez california water index which is based on prices in the states major river basins. an algorithm provides a benchmark price for water transactions across california. it's the 1st time that water has been reduced to an algorithm. the man who came up with the equation works in the city of london. before he discovered water the former swiss bank trader was involved in the carbon market the trade in greenhouse gas emission permits what do

used to be free in the old. but the world is changing is too much stress. an important commodity on earth. be free forever. if you want to put it into the. if you don't control it and use it properly what will directly happen is the cash will have it and those are not the case won't happen. if what people are saying is coming you better be on top of your water situation we're going to be without water and what i'm doing is getting people focus through financial to see what is actually going on on the ground it changes the world the world of water.

is it too late to stop a financial takeover of water. water . and water financial. you can't let the market be the only decider of how water's allocated price be the only way you distribute water because then you have rich people with poor people who are dead. the global water rush is accelerating. privatization competition profit. he words from the doctrine of classical liberalism. one woman is standing up to the threat of waters commodification canadian human rights activist model barlow.

she won her 1st victory at the united nations in 2010 when the general assembly voted in favor of a resolution that recognized access to water as a universal right. it must be declared a public resource that belongs equally i was in the united nations up in the balcony the day that they voted and i thought we were going to lose i had staff with me they were trying we don't worry we're going to be back in 2 years or 5 years don't matter how long it takes we're going to be back and we'll do it and when they vote they vote they sit in their chairs they voted electronically so you know right away so 122 countries voted in favor and 41 they abstained they didn't have the nerve to oppose even though they actually wanted to oppose. among the nations that abstained that they were australia the united states and britain.

countries that have all opted to turn water into a financial product. the human family took an evolutionary step forward at that point and since then every country has ratified it in one way or another it's it's now universal so you got it now now. barlow won that battle but she hasn't yet won the war against the commodification of water and december 28th in the activist was invited by the nobel committee to a conference on the future of water and. the united nations water scarcity. of the earth. to truly guarantee the human right to water we must protect it as a public trust and a commons not a commodity to be put on the open market for sale like oil and gas. must challenge

the current power structure. that support an equal access to the planets to mentally water supply. our goal must be clean affordable accessible public water for all for everywhere for all time. is at the end of cheap and free water well the corporations and the group and others want it to be the end of free and cheap water that's their argument they're saying oh yes it's a human right because they can't fight that anymore because everybody says the awful person if you if you deny it so oh yes it's a human right but the end of free and cheap water when they say it's got to be a commodity it's because they know that the scarcer it becomes in a world where you desperately need water there's this gold it's blue gold.

the winds of revolt are strengthening. right. in europe the fight against the commodification of water is above all reflected in public opposition to privatization moves citizens spearheading the resistance have taken to the streets of dublin rome berlin and paris. but how long will your of be able to withstand the pressure from the financial world. in 2012 a petition called right to water amassed nearly 2000000 signatures. the petition demanded that the human right to water and sanitation be written into

european law. the utopia actually the tension is at the if it really changes the way we discuss about the border in europe it helped create a movement and the whole. idea that water should because here is a human right. before all the documents from the european commission were starting to enter the u.s. market make any shamanist they were always pushing for a living. now and this is not something that you can issue lead to in a public way ringback. so the official answer from the european commission was of course we support a human right to water and that happens you know israel in that situation.

to date the right to water petition has succeeded in halting the ambitions of financiers across europe. but it remains a fragile victory. there are 2 paths and i don't know who's going to win this it's either water is a commodity and it's going to be put on the open market for sale or it's not it's going to be understood to be a human right you can't have it both ways it's time to choose now which path we're going to. be. i take to get the money but that was a different question and it's changing and it's changing for. water scarcity. is it a windfall for our business yes it is is it a bad thing well i suppose to call bhutto. obvious sign doesn't do it

so i take on this model people just trying to make huge amount of money out of. you more have got to have to sell your soul to get the border so be out on. the roof. the fate of water on our planet hangs in the balance. more than 4000000000 years ago when arrived on this earth from space. and has sensor vive to all manner of catastrophes. but it is now being threatened by people who dream of turning rivers into coal. as if nature was nothing but a giant supermarket. ringback

'd because india tempeh to market economy reduce their district needs so sustain and don't depend on big companies designer thames in is taking a stance against the cheap garment cranes such a nice you don't didn't in my view. to having a different background different culture. next on d w. good shape. getting rid of wrinkles

tightening up the body people use a variety of methods to improve their looks. to embellish what's appearances as old as mankind. which methods are most effective. and what are the potential risks. good. 30 minutes w. . they've been robbed of their soul that's what a people experiences when their heritage is taken from them. countless cultural riches were brutally stolen from africa and carted off to europe by colonialists. each artifact has blood on it from the ones that have yet to heal.

what should be done with the stone north from africa. this is being hotly debated on both continents. stolen soul starts april 13th on t.w. . this is news and they sprout up stories several german regional states up pushing to extend the lockdown restrictions beyond the east to a 3rd wave of corona virus is driving up infections the number has topped the limit where hospitals risk being of a well that's uncle.