tv [untitled] January 27, 2011 3:30pm-4:00pm EST
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this is. the russian capital we're here twenty four hours a day top stories now. gathered in central moscow to commemorate the victims of the terror attack. exactly three days after the deadly blast that killed thirty five and injured over one hundred. on the name of a reported suspect wanted in connection with monday's terror attack at moscow's airport has appeared in the russian press. from southern russia could have been an organizer or even a perpetrator of the. science fiction becomes reality forces are reportedly built a next generation nuclear warhead capable of penetrating any missile defense
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systems including those that are still under construction. and the russian economy and investment climate to discuss the world economic forum in davos. by the russian president opening speech on wednesday. well coming up next a dress is the ongoing talks at the economic. report is next in just a few moments. you deleted some signs. from the room. we go to the future are covered. max kaiser and this is the cuz report thanks for sending us your e-mails of kai's
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reported r t t v dot are you i read some of them and you know you people are concerned out there and rightfully so because the global economy is being held hostage by the global kleptocracy that's meeting this week in demos to talk about all of the ways are going to totally screw the global economy some more and steal more money because it's at their best doing at or something like that i'm going to get states here and there to help me sort out my syntax stacey max actually speaking of syntax pronunciation isn't my first headline story more icelandic bankers arrested so while all the bankers are meeting in dallas switzerland this week. unreported in the mainstream media that there has been more arrests in iceland but you can't pronounce any of the guy's names so of course if you can't pronounce their names have these bankers been arrested banker jones doherty or a banker jones due to be well actually say one of the arrested parties in iceland
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is the former landsbanki treasury boss john thorstein lifeson. yes ok so that iceland special prosecutor into the banking crisis has confirmed the raise have taken place and arrests have been made the central bank of iceland is among the institutions under investigation in particular these arrests in the past week and involve a three hundred million dollar loan made by a lender spankie on october sixth two thousand and eight the day emergency law was enacted in iceland and the day before the bank lending spankie was taken over by the financial services authority yeah that's right a lot of banks were the first to enter the global collapse due to the fraud perpetrated by the bankers and they had to shut them down to shut those banks down something that irish government has not done or the greece government has not done the greek government has not done which they should do because iceland is taking
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the right action they've shut down the banks and now they're looking for those bankers and they're going to string them up by their thumbs and we're going to beat them do with an inch of their life well i don't know about that but they certainly are arrested and it makes me wonder why all these bankers from all the major banks in the u.s. all the investment banks around the world are in switzerland this week and we know switzerland has been executing arrest warrants for all sorts of people around the world perhaps we can get them to arrest some of these bankers and in switzerland at the moment but because they haven't we're going to look at some headlines which we'll see more of because no bankers around the world who have perpetrated this great financial crime are allowed to roam freely first headline. tunisia central bank admits it is missing one point five tons of gold oh so as we've been reporting of course tunisian president ben ali fled the country but he took twenty four percent of the nation's gold supply notice that he didn't take twenty four percent
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of the nation's u.s. dollar supply know only gold as money then they know that also according to egypt news the country's airport has intercepted fifty nine shipments of gold directed for the netherlands worth tens of millions of dollars that's made out of that gold it could be somebody rich an agent getting ready for the collapse of the mubarak regime just as an tunisia and just as possibly coming in yemen or any of these other dictatorships supported by the u.s. well i think it's interesting that as a dictators flee the country they're taking their gold with them and a lot of countries now are looking at their gold reserves to find out if they're really there as we reported on our show sixty percent of germany's gold reserves are held in the united states or held at the new york fed and there's already talk in the us of commandeering germany's gold and putting it into a secure military facility and then you've got fort knox in the u.s. they haven't been audited for decades presumably they have
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a thousand tons of gold but based on what you're saying here when the kleptocrats of the dictators run out of the us the george w. bush's of the world and all the folks that ransacked raped and pillaged the american economy who's to say that they already haven't stolen much of the gold and it's impaired why somewhere on bush's huge ranch down there let's move on to the us federal reserve who is supposedly overseeing some of this gold accounting tweak could say fed from losses well concerns that the federal reserve could suffer losses on its massive bond holdings may have given the central bank to adopt a little noticed accounting change with huge implications it makes insolvency much less likely because the change essential allows the fed. to denote losses by the various regional reserve banks that make up the fed system as a liability to the treasury i.e. that tax. rather than a hit to its capital well this is just more a ponzi scheme financing they studied their accounting methodology at bernie made
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off university so now you've got the fed and the treasury bernanke and geithner talking to each other and exchanging phantom lots of currencies as i've explained on this show before most of what happens on wall street are just too corrupt bankers writing on cocktail napkins and lipstick that they buy from some overpriced hooker twenty billion dollars and exchanging that back and forth and charging a fee and then those fees the only way they can be paid in the banks go out of business is for the government has been co-opted to extort the money from the general population and that's the american banking system in the global banking system coming to the entire world visa v. what they're talking about adama's i don't know if you're covering this or not but damn those they're talking about instituting one hundred trillion dollars of new debt that's one hundred trillion dollars of worthless cocktail napkins was smeared lipsticks that says one hundred trillion dollars on an exchange the most corrupt bankers for a fee to pay for these got for second overpriced augurs well facts we talked about
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unless the last episode. was the last episode of carson report for the full story but if it does fit in with this. other this banker a managing director at stony mccarthy in princeton new jersey raymond stone says could the fed go broke the answer to this question was yes but it is now no because of this accounting law oh there's no again it's like not planned how are pam how do you all bank i've. got to go back i'm happy we got called up it got to blue that's all that they talk about in the high finance circles of america it's a complete canard it it's basically it's a command and control the dollar is the product of a pool of bureau called the federal open market committee and they fix the price. this law of supply and demand it's not free market capitalism it's friggin soviet era communism where do we reported on this show on our to. think about so speaking of davus supercycle leaves no economy behind before daba summit
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so all the big banks are back up and some they're celebrating their very optimistic they see or apparently the whole world's going to be rich by the end of this century according to edward prescott a senior monetary advisor to the federal reserve bank of minneapolis who shared the two thousand and four nobel prize for analysis of business cycles and economic policy everyone is going to have a billion u.s. dollars price of a cup of coffee will be five billion u.s. dollars h.s.b.c. bank says by twenty fifty global output will have traveled an average annual growth will accelerate towards thirty percent from two percent in the past decade that's absolutely correct and the price of gold will be five hundred million dollars proves yes what they're saying outputs will actually travel that means actual production of goods and services will travel where are these resources going to come from one might ask virtual goods just like you pointed out the federal reserve is moving to a virtual currency model there is no collateral of zero reserve banking they're
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going to give everyone avatars to do commerce in cyberspace and award them billions of virtual dollars and they'll count that as output it's virtual output that's what they failed to disclose in the piece it's virtual output it's not output like mining or manufacturing it's a virtual output of avatars having virtual sex and then raising the virtual babies and calling that a family and then applying that to some neo classical model it's hokum some of the questions that have been asked of ben bernanke you before congress and then recently alan greenspan was asked this too in several interviews with the fed going to be able to withdraw some of this money that they've been creating over the past year or two how. are they going to avoid inflation and i think you me in a way the environment the collapse of the environment around the world is the way it is a big sinkhole for all of this capital being created absolutely two thousand and eleven year of the flood the year two thousand and ten was one of the worst years
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in world history for high impact floods but just three weeks into the new year two thousand and eleven has already had an entire year's worth of mega floods those are the sort of environmental collapse is the deflation they need to offset the virtual inflation the forest burns up one a desert desert for cation kicks in and china it's no longer viable economically and that's deflation and they'll say well we needed that to offset our inflation so at the end of the day you end up with a virtual avatars representing us living in a wasteland that's been burned down by you colossal degradation caused by all that free money to begin with well in particular so a lot of these projections for the optimistic future count on china growing and who is feeding china but australia who really so you know first you know well. their resources are going towards china to helping build china from their rhenium to coal to steel everything's going there and they're supposed to supposedly in a symbiotic nobody can lose relationship wage inflation risk after australia floods
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so we've seen floods in sri lanka brazil south africa zimbabwe philippines but none worse than australia where there's been over thirty billion dollars worth of damage so far with the floods in queensland and victoria and you know this is part of the land media fact of course which is you know every three to five years this big effect happens but on top of the climate change which is one degree celsius warmer waters off of australia has added sixty percent more moisture in the air which is allowing all these floods to happen right so the ecological devastation is the necessary deflation offset all the money printing this might take the strain off the military budget because up into. recently up and the traditional way to create artificial deflation is to go send one hundred thousand marines somewhere getting blown up for no reason other than to secure rights for coca-cola to be sold somewhere and then claim that that's deflation to offset the money printing so maybe this will mean more of the u.s.
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marine corps survives in this deflationary environment although if i know the u.s. figure out a way to kill more soldiers needlessly for max to get or i go there's one final headline a warning about dallas because you know they're there to save the world and help us all in the likes of bondo and bill gates are their headline fraud plague celebrity backed global health fund this is the health fund that's backed by bond was read which he said davus a few years ago when bill gates who softened up at davos and apparently twenty one point seven billion dollar development fund backed by celebrities and hailed as an alternative to the bureaucracy of the united nations sees as much as two thirds of some of its grants by corruption much of the money is accounted for with forged documents or improper bookkeeping which sounds like our whole global financial system in the west and it looks like if they're going to save the world this is all that ever deliver well you know by no is an investment banker disguised as a rock n roll player you know he's yes buyers to steal money from people like he
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has a private equity group and they're involved in all kinds of nasty deals and he doesn't do any a benefit concert for ireland well how come he's not doing one help ireland well you know it's a tax dodge for ireland is paying taxes and this guy's a schmuck bono musical told schmuck but i think that makes him a much better banker than he is a rock n roll player as you call it. look bono an edge to all right thanks so much for being on the kaiser report thank you max speaking of gold and silver much more coming your way so don't go away stay right there.
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hungry for the full story we've gone to. the biggest issues get a human voice face to face with the news makers. welcome back to the kaiser report time now to go to maryland to talk with money manager michael o'brien who also writes at financial sense dot com their web site would be welcome to the kaiser report max it's great to be with you from a beautiful sunny day in maryland we're data lots of free solar electricity on this beautiful day today well get some crab cakes as well now we first saw you on the big dad zero six why the cast of log cast i should say and is so pressed by that we decided to have you on the kaiser report now what do you know brian that it's an easy and president ben ali fled the country with twenty four percent of the nation's gold supply i thought gold was
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a barbarous relic why would he take all that gold and not paper money well of course that's part of the the great leap frog that that gold is a barbaric relic it's not an important monetary item i think if you go back through history and read what the bank stock received has really said about gold no one got it better than j.p. morgan which is said is is gold is money and nothing else and i would only say the only part of that that's wrong is silver is money too silver is has got a very important place right along side of gold but i think the important thing to remember is it's a lot like the old soviet union where the russian people knew what the truth was by reading profit and assuming that it was the opposite because the fact is is that we have a global financial system that is nothing more than a great looting machine to rob the people. in a way that sends money. in the case of america it's money from the farms in the
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factories in the heartland and shipped off to new york and washington were it can be manipulated in programs and in derivative trading and i think the thing that people are beginning to realize is that the manipulation isn't the answer the manipulation is the cancer right up to a certain amount of financial propaganda versus political propaganda and here we are in the twenty first century people are talking about currency wars and with every war there is propaganda so with a currency war you need financial propaganda so just to roll through this again some people get a handle on it in the us the financial propaganda for example would indicate that the the the huge bailouts of the banks had nothing to do with the fact that they looted the economy and they destroyed the housing market and made huge bets against the collapse of the housing market turbocharging their profits by making bets against the housing market or in the case of almanacs making direct bets against
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its own clients but talk about for a second now i remember to make this political financial propaganda comparison to build on the us a little bit member in one nine hundred eighty nine the solution for political propaganda was freedom the berlin wall came down and freedom rang and that was the solution for political propaganda the solution for financial propaganda the equivalent you could say is freedom in terms of a gold and silver standard back in currency that is the equivalent of freedom is it not what he absolutely and i would say i think serious economic thinkers have to first acknowledged that that the dollars days are numbered it's going to end up in the dustbin of history and we need to start thinking about what's going to be the monetary system that comes next my own preferences is to have a basket of commodities that would include untaxed. land that's owned by the u.s.
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government because i think if you had just a gold standard or just a silver standard it would be too easy to maybe be a public manipulate in the future by banks jurors who haven't been born yet and i think the the broadest way to do it is to have a currency that's going to be redeemable in lots of different things redeemable in grain redeemable in energy but i think at the end of the day where people need to be right now is they need to two dollars there is no salvation for the dollar people need to take steps now including owning gold including owning silver including having storable food and water to survive the collapse that's not one avoidable. and to start to think about what it is that comes next because we are in what my friend in chicago ted entrance likes to say they aren't see extinction event and if you look as i have at the history of cunt countries that have had these currency collapses i think zimbabwe is a good recent example everything devolves down to barter until there is some new
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currency regime that is put in into place and i think they're going to be a lot of hungry people in the united states that if they don't have silver and gold to porter for food they're going to be involuntarily losing weight there's an interesting conundrum if you well out there it's the inflation versus deflation debate economists don't appear to be able to decide whether the economy is suffering mostly from deflation caused by the implosion house prices and all the bond paper associated in mortgage papers associated with that and all the huge bank right out that are associated with that or whether we're experiencing because of the increase in money whether we are increasing inflation and people point to let's say the rise in the price of gold and silver as evidence of inflation but let me ask you this because this is an instant conundrum and i want to follows up on exactly what you just said in terms of may. getting gold silver and other
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commodities the basis for a new currency it couldn't you make the statement that the economy is suffering from deflation primarily in the form of collapse of a fee i've currently a system and the rise of gold and silver and other commodities is not indicative of inflation necessarily but more indicative of the fact that we are already on a gold standard i think given the amount of barter going around the world and you know things that are being bought and sold using gold and silver now i think you can say we have a shadow gold standard but i think this larger question of inflation versus deflation it's very very complicated in the u.s. there obviously is inflation in food and fuel and in metals prices but there certainly is deflation in things like real estate i think the big picture for people to grasp in this is that organic economics is naturally deflationary if you
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look at things like and i've written about this that gold speak about eggs or or a car or other kinds of basic commodities even a bottle of coca-cola you can buy far more goods now than you could fifty or one hundred years ago if you're buying them with gold and silver if you're buying them with real money if you're buying them with paper or electronic money obviously there's been a great deal of inflation so i think this whole question of inflation versus deflation really depends on the the measuring stick it is that you're using if you're using paper money obviously the price of everything has soared if you're using real money the price of all things have have fallen but i think at the at the end of the day the real problem is is that if you look at the states and municipalities in the united states they're the second biggest employer in the u.s. and they are all drownding and dead i spent. a lot of time. in my earlier life in
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harrisburg pennsylvania i can tell you that's a city and you've seen this in europe and you've seen it in iceland greece where these governments are putting people into this false choice of well you must endure austerity so the people who lent the money get one hundred cents on the dollar now i don't know about you max but the last time i checked when you lend someone money you accept the risk that things will go home and they won't be able to pay and this idea that cities in new jersey or pennsylvania or or cross the map ought to cut firemen and policemen and make people less safe in order that goldman sachs and other banks years get one hundred cents on the dollar this is beyond absurdity if if a person can't pay they default if a state can't pay they should default the municipality can't pay they should default and at the end of the day this is really the problem is is we're having a progressive collapse of debt right a collapse of debt which is another word for that is deflation now converse way you
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can't really have inflation without rising wages rising employment rising interest rates or a rising capacity utilization none of which exist so none of the signs of inflation are there you have a rising commodity price level but that is because the world is abandoning paint fayad current season moving toward a commodity based reserve currency right now no matter what the fed does or doesn't do that's what the world is adopting they're saying no to fad currencies now you wrote a piece called paper or plastic or silver that's the title of an article tell us about paper or plastic or silver what's this all about paper plastic or silver was really about this idea that it's very very possible in america to pay for things in silver and all you have to do you're not going to be able to pay for silver. at wal-mart but if you go to your local garage. local businesses you and ask would you
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rather be paid in paper money or would you rather be paid in silver and you'd be amazed how many people are willing now to transact business in in one ounce silver coins then this confirms i'm saying that it is already a gold and silver standard being utilized that's why the prices going up not because of quote unquote inflation well i think a big part of why you are seeing metals prices go up so dramatically is it is a fear trade and i could say i have clients who ten years ago i could have gotten out a cattle prod and i couldn't have gotten them to have any interest in owning a gold fund or owning an ounce of gold and now they're constantly you know asking how is it that you do this how how do you convert you know your dollars and into getting physical possession of gold and i'm surprised how many kind of little old lady clients that i get to talk to have heard of by silver crash j.p.
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morgan i think your your efforts in that area are much more widespread about among the population than any of us really know but i think the question of whether these prices are going up because of fear leads to the question of is the fear legitimate and the answer is just listen to ben bernanke if when you hear this guy it doesn't just scare the bejesus out of you check your pulse these people are always wrong they're never telling the truth and i have to take it's going to be very interesting in the next couple of months to see if ron paul can muster up his inner a hockey player and ask the kind of questions to ben bernanke that really need to be asked well up until now it seems like he was lobbying for the job that he has now and so as questions tended to be somewhat long and convoluted now he's got this job. hopefully yeah he'll short the questions and he'll start to really go for the
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juggler now of course getting back to we were saying about fear driving the price of these precious metals in the case of silver and the campaign crash j.p. morgan by so far i think it also has to do with hate there's so much hatred of these banks particularly the j.p. morgan that pete folks think that they can exercise their hatred by buying silver which they can by removing one ounce of physical it kills j.p. morgan's balance sheet by one hundred dollars in phantom illusory derivatives nonsense cooked up by life masters and other witch doctors back there on wall street of course we're going to do it all right michael what do you o'brien thanks for being on the kaiser report better x. wonderful to be with you in the lovely states year and every time you need me again i'm always available to you all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i want to thank my guest michael would be o'brien look i'm up on the web check out his work and a big fan too big dad zero six for tipping us on what he's worked if you want to
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