you can the letter till. saddam did to go and kill your brother said the colonel was no job as a retreat. overseas top stories this hour a breakthrough in relations polish and russian leaders praise new steps to strengthen ties between the countries as president medvedev visits him so walking to smooth down longstanding differences between both nations some. spicy spice story a young russian assistance to british and peeved faces deportation from britain on suspicion of a spare knowledge bush birth and shan't have put your phone in it tonight and there's been a british media frenzy over this story women is the end of the cold war era. and tensions run high as seoul holds a new series of life for naval exercises despite warnings of bull from pyongyang the u.s. has been told in meetings with south korea and japan and washington demanding north

korea cases what they call a bogey to behave. those are the headlines from all see coming up next it's because a report on today our financial expert explains also a bank runs a is and gets his says he own minutes of fame so dull these. guys are all the money go to the guys reporting are you a criminal. i'm barack obama's got something for you money if you're a criminal banker barack obama's got the story of money that's right the more promise you commit the more financial fraud you commit the more money obama gives

you more money the fed gives you the moment the treasury gives you if you're a hardened criminal you like to steal money you like to beat up old ladies and steal the money out of the mountain or from the grannies america's got money for you was going to stay here max i actually do have that story in my headlines but first i want to say that preparing for the show i went to guardian dot co dot u.k. and i'm reading the front page looking for any news and it's all about wiki leaks of course. and on the sidebar i see a little picture of max heinz or which kind of alarmed me because i thought max in these leaked cables. but no it's one j.p. morgan to crash silver that's right since we started this campaign is over as i think eight percent in just a few weeks it's annualizing at eighty ninety percent annual gain it's the most appreciating asset in the world it's the people's money the stuff paper is going the way of the dodo do stuff is worthless anyone holding this stuff is going to for

over more. pleasant. don't fall for it what else another big campaign in the news of course is bank run two thousand and ten dot com today is the bank run day december seventh is the unofficial pan-european bank mutiny day so that's happening today we don't know if it's going to crash but it's also getting attention from the mainstream and that is the mainstream political officials christine legarde tells eric can tona to stick to football yeah right yeah look christine legarde she's the french finance minister right she's the french finance minister ok now with the irony is of course i believe you got some follow the details of this this is the irony christine legarde who's one of these ivy league chicago school america trained of course you know sort of waste this stuff because she's a paper bug she doesn't know the first thing about economics but you know something about stealing people's money. so she tells cats and to stay out of this

stop the banks dot com bank run two thousand and ten dot com you know the video we played where he was encouraging people to withdraw their money from the banks said hey well. she should follow her own advice because look at this next headline meet the thirty five foreign banks that got a bailout from the fed over. three hundred fifty billion in short term funding exclusively to thirty five foreign banks of which the biggest beneficiaries are u.b.s. dexia and b m p perry bah but bank national debt perry b m p they needed a bailout why because they got people like christine legarde over looking the the crooks in france and doing a terrible job at it again like to see christine legarde get on the football pitch and try to score a goal against manchester united that's about as affective she is in her role as finance minister letting her own baggage room country be. almost goober i grew up

if it not for the large yes of the american people who came through with billions and billions of bailout money because they love europe so much you remember the freedom fries campaign where americans refuse to eat french and mustard even though it's made in america their government at the same time was giving french banks all of their money to bail them out that goes christine legarde is a shiksa from nowhere as a village doesn't know the first thing about economics and she is afraid to come on the show even though her office is less than a kilometer away from where i sit up christine come on down to the studio and take it take it take it baby take this tent this may be your very well max to put this into context if course this is data that is emerged from the federal reserve ben bernanke he has released the freedom of information request data of which banks received the three point three trillion and emergency funding during the financial crisis so according to zero hedge since the funding provided

was in the form of ultra short maturity commercial paper it was essentially equivalent to cash funding in other words between october twenty seventh two thousand and eight and all just six two thousand and nine the fed spent three hundred fifty billion dollars in taxpayer funds. saved thirty five foreign banks right and included number one on the list u.b.s. union bank of switzerland that was simultaneously investigated by the us for tax evasion and helping people put billions into accounts illegally so they go after the bank for illegally tax transgressions while simultaneously giving them dollars no crime is worth it can be bailed out with more money i mean if i go out of the street right now and i murder ten people is ben bernanke going to call me up

and send me a billion dollars is not the way it works it is the way it works in america a crime pays well yes because so u.b.s. is bailed out with the most cash they're given the most cash at the same time they're paying these fines to the u.s. government for helping us taxpayers avoid taxes but at the same time another headline reads u.k. banks borrowed more than six hundred forty billion pounds from u.s. federal reserve now most of it was for r.b.s. and barclays and the money from barclays they say was to help fund their purchase of lehman's u.s. assets that's right barclays got to buy lehman brothers for free it was financed by the american people why wasn't lehman just nationalized if the u.s. taxpayer is paying for it anyway because on the u.s. taxpayer would have got the benefit of some hind i get it this way they get no benefits and remember of course bank of america bought merrill lynch with the same kind of deal they bought it for free again the benefits accrue to the bankers none of it trickles down to the people and you know the amazing thing is that what we're

seeing is the emergence of a global banking cartel and all these banks consolidating into one super bank and of course the i.m.f. is now over in ireland raping the poor people they're imposing austerity measures because the i.m.f. is bankrupt the i.m.f. needs the twenty billion dollars in ireland balance sheet they need the pension assets that have been built up by the irish people and it's the. i mean if that's been a grip not ireland and same thing with spain same thing with portugal same thing with lehman brothers same thing with bear stearns these banks were technically not bankrupt in the sense that they had cash but the banks they were bankrupt the predatory monster global dare i say it new world order you know what else what else enough about what else is looking to see if any banks have crashed yet in a way every second well it is the bank run two thousand and ten dot com so while all of these foreign banks u.k. banks while they're getting you know free checks nothing for the little guy blank

check for banks but two million unemployed get cut off this is the unemployment benefits lapse at least temporarily for some americans unemployed now well they're the new red man americans the american poor understand what happened to the american indian they were bankrupted and pushed on to reservations and starve to death and lot of will become will will die as a result of it i mean this is the result of financial terrorism a lot of americans will die as a result of the goldman sachs j.p. morgan federal reserve ben bernanke it's i'm going to model of mass execution for a few pennies and i think it's important to remember that the only way you can adequately fight back against the encroaching wave of financial terrorism is to capitalize them by buying silver you know with well many americans voted for this tea party and this latest elections in order to save them from their crimes that the banks are as they allege some of them allege tea party leader restricting

voting to property owners makes a lot of sense so this is just some phillips president of a prominent tea party group called tea party nation and here is he is interviewed on the radio. only fathers originally they put certain restrictions on who got the right to vote you were just that when you automatically got to vote you know some of the restrictions. we're you know you are obviously would not think about today but one of them was you had to be a property owner and that makes a lot of sense because if you are if you're a property owner you actually have a vested stake in the community and if you're not a property owner. you know our i'm sorry but the property owners have a little bit more of a vested stake in the community than our property owners do yeah as i've been warning on this show the objective of the banks is me feudalism they don't believe anyone should have property except them that is indentured servitude and the the tea party remember it's not a political movement it's

a bowel movement. well of course many of those unemployed americans are now losing their homes of course so they'll be they'll be joining the red man and their brother the what i call the wall walmart of cool indian the people who shot themselves to losing a job at wal-mart and now live on a plantation slash reservation funded by wal-mart who will soon be picking cotton for a living is the dollar crashes the only thing left america has export or cotton baby king cotton is back plus one of their big themes of course their big concerns is alleged voter fraud so black people voting when they shouldn't they say that's right so here they are trying to disenfranchise many americans millions and millions of americans who only rent their home and by the way most people do you know they have a mortgage which is really rent then rent from the bank in yes that's right americans do whatever they can to keep black people from voting and as a result a lot of them will end up picking cotton well the brits are also in debt all die in

debt say one in three this well that's the good spirit does to be a spree décor of the british people they don't never take this credit card from my cold wet dying hand when of course because they're south. you know al as the brits are from our own fond of doing nine out of ten brits have run up unsecured debt and many fear that they will never be able to pay back what they owe fifty percent of them say they're fighting leaving their debts for somebody else to pay their future generation of their suicide shoppers go blow themselves up with a credit card. the part of the critic are down to the point of an hour ahead and shoot themselves in the. that's the bit for the economy in the u.k. they do come and that's a good program get your constituents to shop themselves and that's a good idea so you know the between the federal reserve the european central bank the i.m.f.

the world bank. sovereign nations sovereign people around the world those mountains are being you know loaded up with debt and the brits apparently are happy to take this debt and dive in debt you know they got all those pumps they're like the parrot the dead parrot in rat the sick rename all those pods pubs like the the the debt and you know the credit card overdraft and the parent you know the oh you know these types of things and will say you're shy or parroting credit card and a house you know they've got to go with the times or here's the headline iceland is no ireland a state free of bank debt grimson says so this is iceland's president olafur grimson and he said his country is better off than ireland thanks to the government's decision to allow the banks to fail two years ago he said quote how far can we ask ordinary people farmers and fishermen and teachers and doctors and nurses to shoulder the responsibility of failed private banks you've got

a global insurrection against banker occupation bankers are occupying these various countries the i.m.f. is occupying our lives on occupying greece it's in iceland but they haven't done the total leverage buyout in iceland they've done these other country because iceland let the banks go bankrupt as they should because icelandic people are proud viking stock and they're they're not allowed to let some shit models from wall street come in there and stop the banking system for a few pennies or a few cause that's not the in the us logic spirit so they push back against the financial terrorism well max maybe you should go to iceland now maybe speak to somebody there all right let's go to iceland mother for. when we come back from the break up thank you very much stacy ever for being once again on the kaiser report thank you max when we come back from break we will be going to iceland that's the way we got it on this show we're going to talk to somebody and tells how they're in iceland they pushed back against the banking terrorist don't go away.

hungry for the full story we've gone to. the biggest issues get a human voice face to face with the news makers. sure is that so much of it which of course. we keep what is now called cable gate or red faced has many benefits from disclosure of classified government documents. and welcome back to the kaiser report time now to go to reykjavik iceland and speak with parliamentarian thor sorry thor welcome to the cause a report thank you max keiser it's good to be with you ok can you tell us the

difference between the icelandic banking collapse and the irish banking collapse well let it i cloud big case with with their passing mostly emergency law they were able to cut the fact that they leave they all banks with that out in the cold and will most of the assets back so we didn't end up with all the bets that the old back actually had where is and i did i once case the irish government promised a state guarantee on every side and within the irish banks sold the irish banking system. was virtually out of the state control and now they're paying for it because the bill is much much higher than it ever was and i slam them and watched it go i don't know if i. got last hour of

a really fair report ok so iceland let the banks collapse and the chrono collapsed and there was a gut wrenching recession in iceland certainly and now having gone through this do you think that that was the right move to allow the banks to collapse yeah i think that was the right move i mean where not gone through with yet we're in we're still in the middle of it i mean it's been two years now and. we're still not seeing our way out of the recession it's much deeper and longer than what expect it and. you know new all bets on the banks are always sure christine we go through the finance committee and of the argument we we got up here yesterday for twenty five billion kroner because of state guarantees on loans that were in there all back then nobody actually knew of so we're still experiencing more debt

than we ever expected and we're definitely knock through this yet. like i said i just feel very story for the irish because their debt situation is actually much worse than i thought yes so there's more dead debt bodies floating to the surface and i can tell you after studying the situation myself quite closely of course are the reason why banks don't want to have to go into receivership is because they would have to disclose many many many times more the debts than they have disclosed thus far and also in the us is why you have a problem of deflation is because banks are sitting on still trillions of dollars of the bad debts. well let's move on so you've got iceland of course is looking to prosecute the bankers that put them into this bad situation can you tell us some details on that how close are you to capturing prosecuting and hopefully jailing

the bad bankers they had kurdish office which doing all the prosecution it's actually arrogating or and for people who are already people that are based in iceland found out where it crosses the circle robert bakker. still nobody has been dead for or actually prosecuted in core but i think we would expect that early next year that would be the first case is taken to court so they claim that they have a standstill at it then on several of the backers and it's just going to be interesting to see who they are and what they will be accused of because it was definitely a scam from the beginning to end and these guys you know are no less heaves than the people that rob persons on the street how close is iceland in seizing the billions in assets that these bankers stole well we don't know that

yet i mean the government was supposed to assist the prosecutor and frank to assess you know all relevant it would be the two who seize the assets of all the backward . i am not really sure that we would require anything of it one one reason is because of the involved in iceland and the other thing is you know it's difficult to trace these assets throughout all of these facts even stan and all of that or tolosa of the world so i'm not too optimistic that we will receive or recover any of these assets actually right and just to review the icelandic bankers alone down ten times the country's g.d.p. on speculative investments on. overseas that they then lent the money to participate in in ways that created a bernie made off like pansy ponzi scheme that collapsed in the crown of course of

course collapsed eighty percent of its value now let's talk about the i.m.f. how much has iceland received from the i.m.f. well i'm not sure exactly how much they have received but but we are at the point now that the i met were supposed to leave iceland the original contract was to last until november thirtieth. but they got an extension until august of next year because the recovery has been so slow and and you know one reason i think is they don't trust the ask that the government who well either practice the principle told the i.m.f. so they are still there but the we have. amassed enough foreign currency reserves at the center back to base that we don't actually need the i.m.f. anymore but they are still here and they continue to put their figures into icelandic legislation especially legislation that is supposed to handle the average

joe step there on the street you know they don't want to be how does anyone question the fact or have a problem with the fact that the i.m.f. itself is bankrupt not all that hasn't actually been discussed i mean that about you know one thing that we did at the movement that they it's we introduced the bill in problem man whose. mission is to to get iceland rid of the i.m.f. and actually put forward the proposal that they actually just leave to morrow but that i am at this backdrop no i don't think anyone thinks about that i mean it's a valuable tool for the wealthy nation we saw more money and control of the world than band that they're now. the i.m.f. called back wrote in practice well that the i.m.f. is made up of banks that are insolvent so the i.m.f. by definition is bankrupt and they are need the money to pay themselves they

themselves have no money and they see icelander ireland as as easy pickens but what exactly are the costs that the i.m.f. is imposing on on iceland the costs are very high in terms of oak social costs i mean there are there are really really serious cuts in health care sector and the welfare sector. closing down to of course. the sacking of doctors and nurses cutbacks and schools cutbacks in welfare payments roll construction has bought them road repairs first off the road infrastructure is starting to crumble but the cost of that that is also massive you know we're plate pay not now close to one fifth of all government the revenue that goes yes going to paying the interest on that and that's unsustainable cost in my point of

view i mean you you can't run a society without. that kind of that you are one other question i know that julian assured assigns of wiki leaks has has a close relationship with the parliamentarians up there and in reykjavik and apparently he's going to come out with a trove of information exposing some of the criminality in a major bank and i believe it's in the us do you think maybe this is where some of these missing debts of gone maybe we'll find where the banking crooks are are there have you talked to julian assad's about this we haven't spoken to him in a long pattern and actually we really don't know. where is that is that going to finish don't think that i would be interested in asking him about because. the remains of course the bomb in luxembourg they were sold or the back was

shoulder to a wealthy family and it's now called that back out along the back and all the information in the back was of course told with it so it's an excess of the icelandic or of the. that was a very suspicious theory land and next time i run into julian whatever that may be i'm going to ask him some information from the how and back and looking for definitely so in other words store count thing bank one of the three banks that went bankrupt the records are sealed and you don't have it was part of the transaction the information went over overseas and now it's gone wild knowledges it's residing within that avalon back and look at. you know i think it's very difficult to access that information i mean if you need permission from good looks and we're backing authorities and luxembourg is backing heroin so.

bad being was a very suspicious one i don't think they should have ever shouldered that back on lest they had to be finished. examining it and the principal architects of that deal were are the current government the current government found and the minister of finance yeah it sounds suspicious maybe julian assigns will have something on that and what about the other three major banks and rick evicted all declared bankruptcy and you have access to that information we don't have access to it no special investigating committee had acted all of the information on but the novel all the information they used has been seeded and put into the national archives and is an excess of. i think for the next thirty years you know but but far how can you prosecute against someone who stole billions from your country if the information about the details of their crime are sealed why

would a prosecutor has access to the information but it's not available to the public that's what i would like. and you feel comfortable that the due process is carrying on in a timely manner i'm going to deal with it so far yes but to everybody in iceland is very. everything government. so the state the prosecutor of it all get the special prosecutor i would like that he better come up with some status within a very long time otherwise people are going very very dissatisfied well you know it's becoming more and more like the latin american model of the one nine hundred eighty s. so the special prosecutor may fall out of an airplane one day all right well that's all the time for we have thor sorry thanks again for being on the kaiser report thank you very much and that's going to do it for this edition of the cars the report with me max kaiser and stacy herbert and i want to thank my guests there are

sorry from iceland if you want to send me an e-mail please do so at kaiser reporting r t t v are you until next time this is nice guys are saying. for the full story we've gone to. the biggest issues get the human voice ceased to face with the news makers. as you watch this tape i can only imagine the fear and the despair that you face for this is being recorded for viewing only after the disappearance of god's people from the earth. well it's a clash of cultures it's a class of civilizations do we want to go back to a century this won't take long or do we want to enjoy the blessings of the bush

liberty. really christianity is one of the only religion i think the only one that actually respects the rights of the people who don't break. the spirit when in fact he should is taking place and your family station. ratty old stop and. wait for your moment one of the time and exclaim. god bless you.