with the news makers. the. aussies top stories still are told nato and russia reach an agreement on a missile defense shield for europe after talks as cheap as the alliance refuses most whose calls for legal guarantees that its proposed system would target washington retreat. gen rascon logic is a chance of from the war crimes court for protesting as the judge in the hague and his and not guilty plea on his behalf to charges of genocide and crimes against humanity and while some serves accuse the tribunal one sided justice and as a pastor and against. obama's plan to

pull out troops from afghanistan come on the type of pro opponents who say it's too much of a risk as turnabout attacks continue with. the headlines up next a while e.u. bailout cash to flow again to greece of the same bankruptcy in return for stifel sterrett e-cards shock waves from the country's huge economic problems could you have reached us find out why because a report next. to each. other this is the guys report science to reveal to you the intimate secret of global finance it's not about stuff like the acropolis being sold it's about securitizing the a crop was so could be traded. all the debt held by the bankers will be paid

off from trading commissions but before you can do that you have to turn everything into a security only explain the whole thing anyway stacie ever what's happening well max says so over the past week as greece has been. have austerity measures forced on the greeks we have also seen this headline max debt leading greece finds no buyers and fire sale of national assets so apparently representatives of the greek government while all this protests were going on in the streets of athens they were in london at claridge's hotel looking to sell a fifty billion euros worth of income producing assets up for sell were thirty nine airports eight hundred fifty ports railways motorways sewage works a couple of energy companies banks defense groups thousands of acres of land for development casinos and greases national lottery currently they found no buyers no they won't find any buyers this is the experience of p.

american indian with the us army the us army came with crawling across the western plains of america and they gave the american indians exactly nothing for the land and the concept of actually owning the land was completely alien to the indians the idea of owning the grand canyon for example was a concept that was completely alien to their culture similarly in greece the idea of securitizing in trading the acropolis is an alien concept they don't understand it they're being slaughtered by this army of banks toure's who are going to securitize everything and all the commissions from trading all of this of course will be done off balance sheet in the in the shadow banking system in the dark pools greeks will get nothing they'll get absolutely nothing. but the other thing about this is remember you're dealing with con men bank stress here so are these

private equity alleged private equity dealers who met with greek government officials are they just straw man and some sort of con are they acting as like market makers you know how you often see this and in america is that the market makers don't appear for especially in the commodities market in gold or silver and they let the price collapse in order to then scoop it up at a very good deal for them and then sell it back at a higher price i mean to use why indian metaphor of their the sioux indian and other tribes are still waiting for the u.s. to make good on various treaties that were signed three hundred years ago two hundred years ago one hundred years ago that's not worth anything the paper that these traders are written on if you think you're going to get anything in exchange for your assets from the banks that are rolling across the federal plantations of greece you've got another thought coming the frenchies plantations i never seen

what is a grown on a plantation right is not a race better one of the things that was pointed out by one of these private equity bankers is he said there was a lack of transparency again this is caused by goldman sachs has hidden all of the everything assets debt everything off balance sheet nobody knows there is no price discovery possible anymore thanks to goldman sachs and j.p. morgan well there will be once the securitized everything right now the acropolis has a value on a greek books of zero and now when goldman sachs comes in and they take control of the acropolis and they create a security based on the acropolis to acropolis back securitization program it'll have a value on the global markets but it'll be traded off balance sheet in the dark exchange and greece won't have any access to it but the international bankers will be trading it back and forth and they'll be borrowing against it that's the key thing all these so-called austerity measures are a way for go. sacks to securitize greek assets to lay another two three four

hundred billion and debt on top of the five hundred billion and that so you've said many times that after greece and the rest of europe america would become the next victim of the i.m.f. are now taunting the u.s. the i.m.f. is following the same exact plan that they enacted against europe economic crisis in greece could reach the united states i.m.f. warns so first they're saying the money markets banks may spread the contagion according to officials so if something happens to greece they're saying that it could spread to the u.s. i.e. u.s. taxpayer give us all your money for the i.m.f. to bail out the greek creditors oh yeah it definitely coming into the u.s. because some countries go was brazil kicked the i.m.f. out the economy was booming yeah the same situation down egypt they're saying no i.m.f. loans no world bank we don't want the terrorists we don't want the financial terrorists the market fundamentalists the banker jihadi on wall street we don't want them

stink and suicide bankers like lloyd blankfein blow himself up here in egypt but in america sense they are basically idol worshipers a pop idol worshippers of lloyd blankfein a merry band of derivatives fraudulent counterfeiters speaking of pop idol there is the populous nation going on of j.p. morgan which is the biggest of the banks her occupiers in the world and they have this former beauty queen who's now a j.p. morgan executive and i see all of the financial blogs posting photos of her and it's actually in the u.k. press as well this this hot babe who is this banker so that's the sort of thing they're trying to create this sort of worship thing of the what lindsay lohan sort of things of the people of the world because look a lot of these celebrities who are worshiped via twitter and the rupert murdoch's tabloids. they get away with all sorts of stuff because people worship them so when

if j.p. morgan can start creating some lindsay lohan type bankers who people will just forgive all how about lloyd blankfein the male unicorn with the probing and slur fees and well you know the i.m.f. never has just a one pronged attack speaking of the unicorn they go multi-pronged i.m.f. urges us to raise its borrowing limit or risk defaulting on debt but warns that u.s. debt burden is unsustainable in long term so august fourth you know the u.s. needs to raise this debt ceiling or else it technically defaults and the i.m.f. is saying that you have to raise the debt ceiling but your debt is unsustainable. because the i.m.f. international monetary fund world bank nations they're running the show know barack obama is just basically dancing to the i.m.f. tuning well as we see all governments have to remember pomp and rayo in greece he

was elected on a very specific platform of tossing these guys out within days he was you know swapping the credit default swaps that were worth tens of billions of dollars he's giving them to buddies and people in secret bankers who know you know speaking of the swamp that you just mentioned see his cronies raped a country for twenty billion based on that insider deal protocol swap with the postal bank i go contacted from a journalist at harper's for their website in america and i gave the facts of the story and then polish it harper's came back to the writer and said this story is too one sided against the u.s. . and this is just a straight up and down depiction of the facts so america you need to open your mind a little bit in the us you want to be on the are you going to have a reservation on ship have some said many times that i am after is after the us next s. and p. will slash america from aaa to d.

if the treasury misses a payment so this goes exactly within a few minutes of the i.m.f. saying the us better raise this debt ceiling or they're in trouble well the s. and p. one of the rating agencies who work hand in hand with these international banks there is the managing director john chambers spoke to reuters and he said quote if the u.s. government misses a payment it goes to d. he says this is known as the selective default that paper that is maturing on august fourth will go to dee dee dee dee dee best lower than triple c. and that's what they say greece is worth triple saying well why doesn't the greek government come out with a ratings report saying america's that's what the d therefore sell your american debt we need a place to put that cast by greek debt and we'll give you a play on the options all the appropriate or so's you don't need a boy playing for the company or sell the acropolis where daddy wrote some of the star complet but chambers also noted a default on u.s.

treasuries a benchmark against which all other debt is measured would dwarf any worries about u.s. credit ratings as global markets would crumble they're pulling out this all canard oh the markets will crumble the world as we know it will and oh it's all over it give us all your money yeah well of course as part of the two that they've learned to put a gun to the head of folks and say it's a hijacking like hank paulson did i mean times can this work is like over and over and over they need to hire somebody from hollywood to get a different scriptwriter because this is boring you know look at every single poster for every single movie that comes out of every single scene or in every single country it's a guy holding a gun it never stops people fear always trumps faith that's. the way of the world if you can scare somebody into giving you their money it's a lot easier than convincing somebody to invest their money speaking of hollywood though america was americans were sold on these wars and across the middle east as you know some big video game sort of film like shock and awe well cost of war iraq

afghan wars and your four trillion dollars study so again the cost keep on going up americans don't apparently understand how much they're paying for it those same americans who are sitting there debating saying all the i.m.f. is going to be bailing out these greeks who retire at fifty three years old well what about when we have to bail out the americans who can't stop wars and bombing people all over the world is that any better like i'd rather pay some guy to retire at fifty three than to go murder a million people somewhere else whom it damage american business stand the store isn't the energy and food prices are going up so what do you do about these people all the put a lot of other versions and then finally tying this all back to bankers and the afghan war american choice of plundering their future income afghan banker i have evidence of death plot this is abdul qadeer fit rat the former governor of the afghan central bank and he's fled afghanistan is now in washington hiding out and

he's saying that there's a death plot against him and that's why he had to flee but listen to this rats comments come just hours after afghanistan's deputy attorney general said that fit rat and other officials at the central bank faced prosecution for not acting on warnings about widespread corruption at kabul bank so the corruption until bank gets safe haven in washington d.c. owner bernanke is on grow a. banking criminal context and program. and meanwhile all the american people are killing folks willing really well yes you could say that ben bernanke in the us is to financial terrorists what the. taliban was to islamic terrorists well said stacy ever thanks for being on the kaiser report thank you max well be back with much more so stick right there to fix it.

feel. to. move. just simply. six. six six. six six six

. the old. welcome back to the kaiser report time now to go to lovely beaches outside of athens greece to talk with economists a professor yes vera fake it and janice welcome to the kaiser report thank you. more austerity measures for greece from the news but as it appears the population

doesn't like the plan but what about economists like yourself do you like a plan i think this is one of those occasions where the crowds collected shows more rationale. of the greater good for european union makers and all the underscore support what in my estimation highly irrational policing for dealing with this is growing since well you've got two basic approaches to the various crises around the world there's the austerity and tax approach and then there's the left print money accompanied by bailouts and work programs that we've seen in the u.s. . neither approach seems to work as it well and we're a lot better in the united states that it works in year even though the united states is so if you know the article words imagine what the situation would have been with the quantitative easing opened today you know falls

somewhere in between the two alternatives difficult forward and the reason is that the user has a particularly nasty problem with the very design for its architecture that neither britain noons of the united states. right exactly there's an interesting. historical precedent here with the introduction of the year out which . greece can devalue against other currencies because it's locked the end of the year out and it's basically going head to head economically speaking with germany i see germany as just announced fantastic results with their economy in part because they benefit from the lower euro b. because they're tied to greece so germany is getting a benefit from their troubles and grace in ways that a lot of people are talking about why why not why shouldn't germany just believe

the arrow so that they then are competing with china and america on a more powerful or super basis instead of dragging greece into the gutter as germany is doing because of germany leaves the year with a little miracle that you describe is going to go up in a puff of smoke within twenty four hours if they were to be considered to go to market. go to market value by fifty sixty one hundred percent and then they would lose their chinese markets and the only thing that keeps germany going alone swimmingly at the moment he's a chinese market i want to just thank the so high level for a second here and pick your brain as an economist because you mentioned comparing the u.s. and europe and why quantitative easing. perhaps was a better way to approach the crisis however in the u.s. it seems like all they did was buy some time they bought maybe two or two and a half years worth of time and now s. and p. talking about downgrading u.s. debt to d. which would make it even less attractive then the current rating on greek debt of

triple c. it does the same as either approach really makes any sense because what we're talking about here is more of a systemic problem the banks have systemically corrupted the system in ways where they make all the money and everyone else suffers all the losses is that a fair characterization so really. i have. offered a few feathers basing that just like in one thousand nine hundred run socialism. biggest in two thousand and eight and we saw the end of capitalism it sounds a bit extreme but good to seriously believe that this is with sandy what happened we don't leave when it happens now and we wonder why going bankrupt the currency it's all the same as bankruptcy is not ruled by banks it's through by bankrupt banks the greater the failure of the ground in two thousand and eight and in europe today. it's power to set the agenda it's

a very strange regime under which defies the traditional left versus right arguments of free markets versus. collective action or some sort of running now we have a situation where the war. to them was cancun or your inability to generate profits the more power you have over those who do all right well it's based on that scenario the profits being made by the so-called too big to fail banks for years to deregulate or to dismantle free market capitalism and they instituted a command and control financial autocracy in its place so it's a failure once again. command and control that we saw in one nine hundred ninety one as you describe it it's a repeat of one thousand nine hundred it's a failure of the politburo of the federal reserve bank and other central bankers. but looking at greece for a second they of course through a seven year period of history experienced military dictatorship under the hundred

it can is a really much difference between a hunter and the troika. it's funny you should ask me this yesterday i was talking to an old man who had thought as a partisan during their existence against the nazis in the night and fools and he stuns me with a question he said won't even imagine the germans had gone back then why would it be different now. the position of the people who was no matter who was with and if they didn't we could patient and announces he's in and then i asked i asked him to to continue along that line of thinking and he said look if we're so great we would have a commissioner room of berlin handing things and i don't want to go as long as he was going but this is came from the parties and i have to say that i was stuck for words for at least ten seconds before i could conjure up enough strength to suggest

that perhaps life would have been worse had and that's. all right you mentioned nazi occupation during all the arts part of that story of course was the nazis taking much of greece's gold gold in greece now amounts to one hundred eleven tons of galt i've asked this question to a few people. you know the history and the economics of greece well what i do have an estimate about how much call germany from greece during that occupation fraid of world war two it's more than just a question of gold you have to remember that during the occupation the german authorities extract at the massively. universe it comes from the coffers of the greek a banking system also quite banking system if you combine the gold we've got loan you will come to a figure which in today's prices is more than five hundred sixty billion years. of

course the question is look this is no mean. legally enforceable ok well let me let me just interject there for a second because you're saying ok the agreements between that were made have been abrogated they don't exist anymore but here you have a george pappa dress government signing off on a memorandum what the i.m.f. a foreign banking institution giving them rights above and beyond the greek constitution they are going to take critics call to greece is called as part of the debts that they had opposed grace it's the same deal as you just described to me that the nazis did they think they loaded greece of the budget that then they they take they rate greece now the i.m.f. is loaded with about a lot of debt and they're going to economically rape greece they're going to take the gold they're going to securitize and monetize and trade all the security so how is this different and why should they were why why not why respect this memorandum this memorandum is was cooked up by papyrus and and under the we can only describe

it as treasonous i give you know i would never respect him but on the right had the choice of not respecting and it is quite one thing to say i do not respect i cannot accept the debts that you have imposed upon me it's quite another to go to germany and to go a little mistake in writing for this book that you need quite might be home and i don't think he's incense and he dismissed this conversation on this on this matter but let me let me try to imprint my view regarding the ins position and the european union's position is that the greeks i wish that i would agree with you that this is a conspiracy to lupe's greeks and it is not and i said. it was a group where conspiracy didn't mean that it will be some ryan and some reasons and some logic behind what the europeans and the i.m.f. are doing in greece you see i don't believe there is any object and the really there is a plan and i don't think there is any overarching objective i think what is happening is this the use system was hit particularly hard by the day financial crisis and

the great project two thousand and eight it started under our believe in our european leaders are at a loss to know what to go to do with it so they that they do their own don't you think they know and that is to apply sticky tape in order to keep together. and then to face and i can picture which is the case in the direction this could get it is very expensive it comes in the form of huge loans the loans come to greece they have to to throw some bones to their own parliaments in berlin for instance and to explain why these loans i think you know to greece and these are bones come in the form of public asset sales and river base ation they're not doing it because they want to get something out of clearing so they're doing it in a state of panic and in a way that ensures minimum resistance to be stingy loans to greece in the berlin about and why these huge loans will be simply because they bay much fear lehman

moment in the french banks which we need to be explosion of the spanish that situation and then do a complete collapse of the euro and then very constitution of the dutch market will introduce a huge new recession in germany now of great politicians around london recently trying to sell great assets far knock down prices out of selling off income producing assets restore the long term economic viability of grace it doesn't at all i mean you don't you just give you a very great example take a state lottery you're not in a lot of greece it produces four hundred million euros of dividends a year for the good state and they're now going to try to sell for nine hundred million and this is urgent on the careening of a neg. since could so why are they doing well firstly because they're being told to do it and then it was of course because why are they being total total dick because mrs merkel wants to throw some bones to her members of parliament saying look the greeks are being shooting themselves in their selves in the foot they can be killed

and let's extend those norms but in reality it was mrs merkel is doing she's misleading her parliament in precisely the same way that was going on that it was misleading these problems because this money is not for pennies this money is for the french and german banks and of for saving the banking system not saving but preventing another collapse of the banking system all right well finally of course we're talking here you're actually sitting on a greek island how much do you want for it how much do you want for your children. yes well that sounds very impassioned but as we know it is more all sad no place than today's global economy morals don't trade out any exchange there for morals down exist so it's just a start everyone's got their price and today's globalized economy so out there is there that one twenty or a little less passionate maybe next week but let me answer this question in a discussion that way i was talking to investors from switzerland and germany who really want to get their hands on good gas and they said to me off are they going

on the last few days that they will withdraw from the for from the competition to get these assets and it will be strong because they can sense the passion that you mentioned and they do not want to be involved in assets whose legitimacy the probity rights and the cost of the question by a very passionate people we not allow islands and profit and coastlines to be traded in exchange of rocks you need a change of bones that will be cared for and you can fold anyway the other possibility is that they're seeking a cheaper price all right that's going to do it yes vera faith yes thanks so much for being on the kaiser report. thank you and that's going to do it for this edition of the kaiser report with me max geyser and stacy herbert our guest yanis varoufakis if you want to send me an email placed at kaiser report at r t t v are you until that time the nice guys are saying right off. the.

it's been in the year in iraq it's a military term. we still. there's. no longer willing to give. my full. twenty seven days to publicize the invite. who. started the have a dialogue. with students.