fany and it will make the same mistake again the name of the forest company is called china forestry and it was listed on hong kong stock exchange for one billion dollars one of the biggest private equity investors was carlyle group you know the very connected private equity group with all the bush isn't the bakers of the world on the board of directors so china forestry had a business model which consisted of fast growth forestry to extract greenhouse gas credits a business model that barely made sense to some analyst guys that looked at it however it was a business model that made sense if the company had enough go on which is nepotism connections that the west refers to how china operates so enough connections to extract a really bad deal from the chinese government but it turns out that the shares have been suspended due to accounting irregularities and analysts gossip is that the bulk of the forest do not actually exist right so the crony capitalism one scene

has value and that gave it the money cash appeal but there are no forests there but if there were forests there they were buying and selling them based on carbon credits which is a virtual currency that doesn't yet exist either so you've got three layers of phantasmagorical economic shenanigans you've got nonexistent carbon credits based on selling and buying air you've got which is the core to capitalism monetized in a corrupt chinese economy and then you've got carlyle group buying into using their free up money the u.s. dollar which is based on nothing has no intrinsic value into both the virtual coins and the nonexistent forest sounds kind of like ponzi when you think. yes it does doesn't it the quality ponzi. well according to my experts on twitter they say it's

either quantity or quality. you know it reminds me of those little noodles i used to get on west ninety seven street in new york with the combo of the little peanut sauce and a side order of wedges of lime which were very nice apparently this isn't the only fake company that carlyle group is involved in china the gossip is that they're also invested in china agra tech which is listed on the nasdaq and has business concerns according to their data in china but analysts cannot find any convincing evidence that the bulk of the operations that allegedly existed in china actually exist no no once again they're buying into the rumor in this case there is no fact it's all rumor that's also the problem with these kleptocracy is that we have they start to believe that their connections actually have real value so this is why the carlyle group guys got involved with the

children of chinese communist party members so they're all confused about the real value that they bring but also as we've discussed this is why in america there's a rejection of science because if they were to embrace science they would have to also embrace reality and they would have to embrace the fact that the valuations on these deals are nowhere near what they're being marked to market per the transactions we see in the wall street journal which itself is owned by a phantasmagorical slush peddling nincompoop and propagandist rupert murdoch where next headline goes exactly with this i've owned puts world's biggest farm up for sale i think i've owned could be evolved but it's the world's biggest farm and it's been put up for sale after being hit by a collapsing green prices during the world find. national crisis and then by

drought and fires that raged across the territories last summer it's a farming conglomerate which controls one point five million hectares across russia and kazakhstan right now here's a farm that is losing value due to the climate change and equal economic disaster they're showing it for right a billion dollars or so exactly the same as the fake forests that were sold to carlyle group and try and i mean wow they've got a company called zynga they have a game in cyberspace called farmville and city ville they deal in virtual farming which is down raising money at a valuation of eight billion dollars so there are ninety five million people on city ville in-form ville and other games as virtual farmers is worth eight billion but the real farm in real space is not even worth a billion dollars because of the eco eco disaster of ecological degradation manmade

and deflation they did seek outside investors last year and one of these was ultimately the london based hedge fund and the principal in charge of agricultural investment there dr angus selby said this we consider taking a stake but our view overall was that the risk of political risk and whether exposure in kazakhstan was too much so that's another ironic twist to this whole confusing fake with reality and the other way around is that here he's saying is that there's a real where the risk of climate disaster is there but that's considered a hoax right the market is saying manmade climate change is real and it's reflected in the prices but the people who are on farm ville and city ville in the virtual world if you told them the reality they would of course have a nervous breakdown like the couple in south korea last year they were raising a virtual child in cyberspace and they collected their actual child at home who died from start. nation that's playing out on

a global scale no but you know this is a good model for the fraud of fake forest is a good model for these guys trying to sell this real farmland they can retain their real farmland and they already have an internet ready name of i. it's not atomically correct farming i hope well they could sell sell it to people on their i pads exclusive to i pad users buy a share of virtual share of five olga and they can probably get more than a billion dollars or people who are trapped on these virtual online pharms could buy their way back into reality by converting their virtual credits into actual dirt and rocks and then here's another confusion i mentioned the currency's that nobody knows where any real value is international monetary fund director dominic strauss kahn calls for new world currency how many times they have to call for this world currency but this is dominic strauss kahn managing director of the i.m.f.

he's called for a new world currency that would challenge the dominance of the dollar and protect against future financial instability so basically it's the same thing it's this s.d.r. the special drawing rights but now with a large component of the yuan and he says using the s.t.r. to price global trade and denominate financial assets would provide a buffer from exchange rate volatility while issuing s.t.r. denominated bonds could create a potentially new class a reserve asset right this is would be another layer on the inverted pyramid of currency nonsense the u.s. dollar was the top layer of the currency pyramid of ponzi economics but now that it's going under due to the real estate collapse which is ongoing and the societal collapse in america which is just getting going. they have

to bring in a new layer of currency a global layer that they're going to roll the dollar into yes but he refers to it as a new class of reserve assets this is the problem with all of the stories we've been talking about matter is neither created nor destroyed this man thinks he's going to create matter out of thin air and he selling it to the public as if a new matter is existing that we can sell to it's going to have value well he's a snake oil salesman he knows he's selling nothing by referring to it as having some value as an asset as collateral for some kind of transaction going forward gives permission for banks to make a market once again a virtual market dollar base or euro base or yen or or r. and b. based in the new s.t.r. global currency. dollar unit of exchange which in self has no intrinsic value because as you go down and connect all the dots you find that the underlying earth's resources are collapsing and then everybody's addicted to online virtual

playing with themselves on these various games using a virtual currency so there is no intrinsic value and how about the fact that the i.m.f. is connected to all of these carlyle group like people so who knows what they going to put in this s.t.r. is it going to be collateralized is this new reserve asset going to be collateralized by all these fake four as in a platform ville in the new or how about the one the fraud that is now part of the carlyle group or a very politically connected people member george h.w. bush george bush. john major the former prime minister of thailand these guys are there and now we know they've invested in a fake forest in china they've also invested in another fake company in china so are they going to collateral going to put these assets in this s.t.r. reminds me of all we saw in ireland at the i.m.f. is bankrupt they use the assets of ireland the energy and the cash in the bank twenty billion dollars as collateral to get a loan on the wholesale market to do

a leverage buyout of ireland and the people there are saying yes we need the bell out but all they did was give their sovereignty away to a bankrupt institution the i.m.f. ok so the other thing that's supposed to give more value to this s.t.r. is the involvement of the u.s. and china and it now let's look at this little clip from jim chain of major hedge fund manager and what he has to say about what his numbers show about china there's a big misconception there the chinese government can do whatever it wants and refer to the matter is there braking system is expanding dramatically to do we where as to your very keen credit traditional credit excluded twenty five percent of chose to be in the shadow braking system we fully experience it another ten percent to total credit and steer me increased about thirty five cent per. for. growth it was taking almost four dollars of debt to fuel a dollar of g.d.p. there and that's just on sustainable right well that's just marginally better if

you would believe the numbers the us did seven someone actually a debt to g.d.p. so china saying four dollars of debt for every dollar of g.d.p. but once again it's based on forest that don't exist. you know pork buns then are made of cardboard rice from made of plastic. marriages fake cities or city less if he's go to cities in china i want to say i work on farmville you know thirty seven virtual credits divided by an i.m.f. dollar an s.t.d. are people to me explain something to you the only natural resources of the globe that are the basis for the global economy are disintegrating until you come to terms with that no amount of virtual credits on the farm bill is going to save you from extinction and then finally one quick headline here the other component of this global ponzi or go on the scheme if we want to call it that my credit card had seventy nine point nine percent a.p.r. so this is talking about in america first premier bank has launched

a new credit card with a sky high seventy nine point nine percent interest rate the card has proven popular with consumers over seven hundred thousand people applied for this credit card so they're just racking up the interest rate as the potential for these people ever having a genuine wealth creating job disappear don't pay that back and they know it the us is racking up debts it'll never pay back and they know that as well so everyone just playing this game of suicide economics paul watson right at the sea shepherd the captain of the sea shepherd he calls it the economics of the extinction which is why the value of these bluefin tuna is in japan are going up because they're in the freezer and all the bluefin tuna in the ocean are extinct. but the value the ones in the freezer are going up so i presumably at the end of all this will be three or four human beings in the freezer somewhere in the value of be quite high but the rest of humanity will become extinct all right stacy ever thanks again for

being on the kaiser report thank you don't go away much more coming your way stay right there.

just. on a. welcome back to the kaiser report time now to speak with greg palast filmmaker and journalist author of armed madhouse among other books greg palast welcome to the kaiser report glad to be with you max all right gregg your latest d.v.d. available on your site by the way is called the bush family fortunes give us the ballpark figure what's the bush family worth is it more than the will barack family it's hard to say it because it depends how much mubarak gave back you know. you know that's one of the problems here is that we don't know what these guys are but you know that's not the point was about how they used the film as an investigative report i think for b.b.c. television and it's how they use their money in authority to take control of the security apparatus and ultimately the political apparatus of the

united states i want to move on you you make an appearance in this new documentary film peak oil and changing climate tell us about the film well i don't know much about the whole film it's people talking about. the issue of peak oil the issue of climate change and i mean there to say to say you know it really doesn't matter at this nation see the filter get information it doesn't matter whether we're running out of oil or not because the pollution created by oil is more political pollution right now i am fishing a fill on oil for a major british network. and what i'm finding world over is that it's the purchase of governments the purchase of armies that is the real solution that we have to worry about from oil and it's not a question of whether we're running out of it or not it's a question of if we've got to fire the potentates we can march in the streets and

say gee let's get rid of george bush or let's get of kerry remove the rock and barak but the real issue is getting rid of exxon real issues getting grid scenically chinese stashed all overseas oil company issues getting rid of chevron those are the real dictators the the political guys they're just the hand puppets. i don't want to talk about the puppets i want to talk about the hand inside the clubs that's moving them and that's what i'm concerned about that's what i'm investigating by the way to track those a triple w. greg palast dot com i do this i do mostly investigative reports for b.b.c. television right for the guardian but this will be an independent film for another network right great powers dot com and a lot of your work is supported by people who are interested in real investigative journalism but let's get the side of this peak oil again so you're saying the fact that peak oil the fact that the cheap oil the oil that is readily available at an

economically viable price is gone that's not so much the problem that you're focusing on but the fact that the oil revenues are used to by governments around the world and we've got this corrupt global kleptocracy funded by oil reserves and ok let's say that the they hand in the puppet are are the oil companies. and we are not really arguing this point. but. again but we're still a standoff here what what what's the dynamic here ok well let me give you an example problem is when we are maintaining the petro dictators in power when we maintain them authority it's going to come back and bite us when those people are in the streets. they want their share they don't want their resources stolen and if we what we've been doing is guaranteeing these puppets

a place on stage i was just in the caspian sea reaching like i was just busted in the caspian sea region doing the story by one of the democracies we support there's only a few months ago that hillary clinton flew into the caspian and assured the dictators around the caspian sea where that's the massive new oil find that the united states is going to continue to back them up so for all our discussions democracy like any egypt i'd be looking at the caspian sea i'd be looking at those places where we still support to cater ship including by the way in saudi arabia you know one hand we you know were saying it's time for move or mubarak to step down because that support by the people what about the dictators in saudi arabia mubarak's problems that he hadn't developed as well quick enough. but you know if there's an oil state we've basically guaranteed the dictators if you want to say well that's the price of oil well maybe because you're going after defended your kids are going to have

to defend it's your nephews are going to have to defend it. so is it worth it to you so if it's worth it you fill up ok but there's another dynamic here so i understand that you've got oil companies corrupting petro states and people are tired of having the resources stolen from them and living in poverty in so-called rich countries with this is not why we saw the riots in tunisia and egypt and other places wesen were saying riots is because the price of food an oil are skyrocketing not because of the oil companies taking over the government but because they're running out of oil and the prices so high the food is so high in other words nature itself is becoming a factor here the peak oil story is becoming a factor independent of how corrupt all companies are the price is still going higher and therefore these revolutions are going to happen regardless of the corruption in the oil companies because there's no more cheap oil there's no more cheap food because you grow cheap food with cheap oil and fertilizer that's the but seems like the predominant theme here more than corrupt governments and corrupt oil

companies you know we have to totally disagree ok because you're assuming that mother nature sets the price of oil we have cartels we have the organization petroleum exporting countries which which is an illegal cartel it's a group of pirates and exxon and chevron ride on their backs while they set the price of oil you know wouldn't yeah we've run out of two dollars a barrel oil but we're buying barrels of oil today at nearly one hundred dollars a barrel don't blame mother nature for a cartel monopolization the oil and by the way oil is a very big part of the egyptian story one thing that i've that i've been stunned about is that. i haven't heard much news about the fact that the biggest oil strike of the decade occurred in the nile delta in egypt. that is a big big part of the story and the gyptian stow that that oil was struck

and what they want to know is if we're now only ssion what happened to the money where did it go and i can tell you where you think mubarak got seventy billion dollars he didn't get it by you know selling linen shirts which is their big export out of egypt. you know it wasn't from turds in that he skimmed off the top that his guys you know gave you a camel ride he put in his pocket it's the oil and i haven't heard anyone talk about the oil story in this gyptian eruption well you know the oil in egypt is not a new story in fact it's a big part of the economy and recently they've become an oil or energy importer as opposed to export or coinciding with these riots so the egypt story they're out of oil and the prices covering mechanism you talk about one hundred dollars oil about two three four hundred dollars a barrel oil is what we're talking about because there's simply no more oil and you know you've run out of oil they galois and saudi arabia is running out of oil down

around turning out of oil mexico bergin in kuwait they're running out of oil this is the peak oil is gone so this is why people are writing because their food in the oil are are now disappearing and there's no plan b. so the governments are not going to be around what i'm saying is these governments going to out of business by their own shortsightedness anyway because the oil is gone i don't see oil being on our one hundred dollars barrel prices nothing do with oil being gone i don't know of a single place the planet right now that's pulling up oil that costs one hundred dollars a barrel to pull up or fifty dollars a barrel to pull up in fact of the most expensive reserves being pulled up right now are in venezuela the heavy super heavy oil is thirty dollars a barrel and the canada tar sands which is about twenty eight dollars a barrel the price of oil today is not in any way. in any way affected by its supply there's just no connection it is a monopoly we've allowed this to continue on we've allowed basically our oil

companies to wink and nod and take part in a cartel which is holding oil off the market i can tell you for example you know you have massive massive find in the caspian sea where i just was yet when the soviet union pulled out and the wall fell and thereby asia became an independent nation and it's there by john by the way used to provide fifty percent of the world's oil and it can again the thing is that production actually dropped like a bomb even though it was being run by british petroleum the reason was that when oil was cheap they simply shut off the spigots that's very important and let's not forget that we also lost a lot of oil because we bombed the hell out of the iraqi fields that cut off the price of oil so we have whatever mother nature is doing or not however much there is on the ground we are petrus that we are now under

a petro dictatorship and that's very important to understand we have to get off the oil because we have to get it because otherwise they have the whip hand of us and i just don't see it as a question of what nature is doing because we haven't gone down to nature's price yet there's a ham in australia and i think you know stallion they want to nature's prize the cyclons the forest fires that's the result of burning oil that's the result of an inefficient oil market and as a result of peak oil but greg palast thanks so much for being on the kaiser report again max you're the best all right well thanks so much a great palace for being on the kaiser report and of course i want to thank stacey herbert and i want to invite you to send me an email if you'd like to do so kaiser report r t t v dot ru until next time this is nice guys are saying bye you know.

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demands for political reform met with violence and uncertainty in the middle east and north africa the domino effect continue. i will not support initiatives that will leave our military less capable and less ready to fight america's a top military officials to stand guard over their budget pushing a massive cuts on to the rest of society. and importing extremism has called the three years of self-proclaimed independence grows the flow of saudi money is turning it into a training ground for radical islamists. a

very warm welcome to you this is r.t. live from moscow where it's not just afternoon well the under pressure governments of the middle east and north african countries ingolf by a wave of protests and now resorting to violence in libya where activists have called for a day of anger is the latest to see such violence on the streets in bahrain security forces charged thousands of demonstrators the opposition claims at least three people were killed tear gas and rubber bullets were used against those demanding reforms of the country's ruling monarchy yemen has also seen some unrest out of six days' worth over two thousand policemen try to put down the rallies calling on the country's president to go and fresh clashes between. pro and anti-government demonstrators have erupted in iran after massive opposition protests on monday left at least two people and in egypt where the military has replaced the government at least temporarily strikes as they're gaining full. looks at whether civilian.