well of a few hotels. in the region country club suborning church and others each of the first earth books all sure convinced switzer chill doesn't hold built in limbo it's called golden eagle chico to. go back you want to know if you live from moscow these are the top stories germany wants the power of credit ratings agencies to be curbed after moody's put forth a good risk of a second bailout but as a new i.m.f. chief tries to prove she's prioritizing the europe's dad drain the media circus remains transfixed by the sex scandal that toppled her predecessor. and the un's findings into last year's fatal gaza aid flotilla rain are due to be released from israel refuses to apologize to turkey for killing nine of its citizens on board.

and laser organza are putting air passengers in russia at risk by blinding pilots with powerful beams of white as they land more than fifty cases of lasers being shown into the cockpit have been reported this year. so we had lines next backs and stacey check out the bailout bargains as greece goes on sale to scrape together some cash. skies or this is the cause the report shows the first one in the world to point out that there's a lot going on in europe that you need to focus. on being. there's surface. germany four point zero. let's get some more details from steve yes max we're seeing the introduction of neo feudalism into europe as we've said all along

cells cells everything must go in greek fire sale europe's most indebted countries and britain have put prized assets up for grabs to bolster their credit worthiness so what exactly is on offer max tell us a everything. well we know in greece we've already listed that last episode ireland has the national airline ports power stations energy suppliers transport systems sporting assets and even the irish national stud well thank you very much from not for snow. whatever that is a sooner it has something to do with horses and it's all about more semen ok and then spain is selling surety percent of its state lottery now this is the biggest lottery in the world it's called el gordo it's been around for one hundred fifty one years but spain is not as badly indebted as other european countries but bond

yields have soared so because of this they have to sell el gordo the company recorded three billion euro net profit in two thousand and nine on sales of nine point eight billion euro is meaning the sell off will reduce treasury income by about one billion euros a year ok so spain is now being attacked by the financial terrorists the people who sell short bonds to destabilize the country's finances in preparation of extracting wealth and these of course naked short sellers which are counterfeiting they sell things that don't exist as a counterfeit operation so here you have the same people they've been emboldened in power because of their successful raid on ireland their successful raid on greece and. using more of their power and influence and counts that they got from acts of financial terrorism in those two countries rather going after spain and he made

a good point the spanish lottery system is generating huge profits there's no need to sell it but the movies and the s. and p. in the future the rating agencies combined with the wall street banks of the headphones like john paulson and the wall street banks and the corrupt government officials in europe have called looted together obviously to impose dr cohen measures as a result of a racketeering charge a racketeering campaign to destabilize and confiscate this is you know terrorism but you know as i've seen to people all along the fact that they don't rise up in revolt the joke's on you but this is the thing that we're seeing across europe people are giving out these nations are giving out income producing assets they're basically they're tollbooths right these are told whose they came in from to the government. first of all by giving that was over

they reduced their revenue further destabilizing their own economies but it's neo feudalism some outsiders some lord somewhere else is basically collecting that revenue and it's going outside of the country so in the case of greece they're going to sell the state lottery for something like four hundred fifty million and it generates i believe nine hundred million income now think of it in these terms if greece a state lottery were to simply list themselves on that as deck that amount of income nine hundred million in income would be worth nine to fifteen billion as a stock equity offering on match day take a company like groupon for example they're losing four hundred fifty million dollars a year they're going to go public on nonstick for twenty billion exactly so why doesn't greece just put up their national lottery on the nasdaq yet they're making nine hundred million simply lou. just on a trainable exchange it'll be worth thirty to forty billion well part of the reason

of course is all these nations have i.m.f. loans and not spain but greece and portugal do and they are required to only go to the i.m.f. for any further loans they're not allowed to raise money on their own the i.m.f. and the e.c.b. say do it this way required per some deals that were written and signed off by governments like and greece to grow is a treasonous is a treasonous what we call and the other thing about spain of course is why their bonds are being attacked by the sovereign debt is being attacked as people tell you well this is capitalism because basically the bondholders are assuming that even though the government has low debt just like ireland did before the crisis they're assuming that the government will be forced to take on the private debts of the banks i.e. the taxpayer will be forced to eat these bad debts of the spanish banks and therefore crumble their own economy it's not capital that has nothing to do with

capitalism capitalism and first competition if you're not allowed to compete because the state is orchestrating takeovers from foreign banks of your assets that's called an occupation that's like saying oh the people and dogs the problem is capitalism though the problems are being occupied well here's the evidence of course and this has been big news everybody's talked about it greek sell off threat to sovereignty greece stave off the immediate threat of default at the weekend but now faces severe restrictions on its sovereignty and must push through a wave of privatizations a kin to the vast selloff of east german firms and the one nine hundred ninety s. after the fall of communism this is from john claude young chairman of the euro group of finance ministers this is my thesis this is what i've been saying this is the underlying reality of the. all the european crises is germany is rising from the rubble of world war two and we're talking about the reappearance of the

imperial germany or the fourth reich you have or reunify germany who is now talking about greece as south germany they say was actually what it's becoming just don't compare in south germany or greece with east germany they're simply saying well just like in east germany we took all the assets and we merge into one super power imperial can conquer conquer conquistador european threat as we have been in the past and the thing about the euro was supposed to eliminate a german imperial threat but they figured out a way around it as a matter of fact they orchestrated the whole thing as a way to reunify germany another time what greece is being stopped germany so this guy let's call him junker because he's a junk bond salesman basically he's pushing junk on everybody he's taking the junk off. private bankers asset holdings and transferring it to the national governments in the e.c.b. in the e.u. but he's likening what's going to happen to greece to the two had agency sell off

of fourteen thousand east german assets between one thousand nine hundred one thousand nine hundred four but of course that was done in order to merge east germany into west germany and there was you know two and a half million jobs were lost but there was also a transfer of technology from the likes of b.m.w. to the east which had trouble as the peak of their income producing car manufacturing assets so there was a transfer there was something the east germans got back they got nice infrastructure built by the west german firms so where is greece being merged into and what are they getting back there to being merged into germany and they get back the privilege of not being killed by german army people with guns that's what they get in return what was the french banking system and cozy and they all concocted this for cocked a plan which i guess was being read. s. and p. is counting as the fault but here's a country that have this revolution where heads were child off because of toll

booths introduced everywhere in society so the french banking group one of their plans was that the rollover of debt of the french sovereign bond holdings of greek debt would force them to reinvest seventy percent of that into greek bonds yielding at least five and a half percent but the greeks were forced to reinvest the money they got in this loan back into european aaa debt what paying like two percent so it's a wealth transfer it was a constant annual wealth transfer that's exactly right just adding more debt that's always been the solution. the end of grand words in one nine hundred seventy one just add more debt more debt as always going to go back to america because somehow they think that being part of the empire leaves them immune i mean western germany . west western west west germany little less space between canada mexico west west

germany i think the people have an instinct that the i.m.f. is going to come there and steal their assets so they're going to the assets before the i.m.f. and the bankers can take it both already offer five hundred dollars for tips and dozens of hydrants so this is from riverside county in california which is having massive heat waves fire alerts everywhere water agency officials say that somebody stole more than sixty fire hydrants covers and other pieces of utility equipment throughout riverside county yeah this is really where you see amazing force multiplier to use a dick cheney term where you've got the ecological restraints are causing global warming to kick in which would require the use in need of a fire hydrant to put. fires are being created by manmade global warming which is being as gas exacerbated by the theft of the fire hydrants brought on by excessive

credit creation by the central banks who are trying to bail out all these banks around the world and those two are coming together and forcing the price of what the fire hydrants are made out of metal higher incentivizing people to steal them at the same time that global warming is increasing the rate of fires which of course will increase the rate of money creation it will create the price of fire hydrants and you get into a vicious cycle and pretty soon there won't be any firearms or stuff going on but speaking of vicious cycles and money creation here's our final headline case for a balanced budget amendment charts of the day transfer payments medicare medicaid food stamps etc vs total government receipts so this is from michelle block but we're going to concentrate just on the transfer payments versus total government receipts chart one here is the personal current transfer receipts these are things like medicaid medicare and food stamps and you see that's almost two point four trillion dollars in the u.s.

chart to federal government receipts so this is their income they collect that's just over two point four trillion and then charge three is the personal transfers as a percentage of government receipts and you can see max that as a percentage it was under fifty percent in the sixty's and seventy's the glory days of america and then as a percentage went over that and now it's close to one hundred percent of all income to the government is paid out in food stamps and medicare medicaid who is the country has become basically a petting zoo it's a people come to visit to pet the baboons in america and the money that they deposit at the zoo is used to feed the bedroom so that's the business model of america that's all they got to love is one big bamboo petting zoo but you wonder like. who is financing the rest of this who is the either american. they're living totally off the good kind reach the greeks are financing the rest of the transfer mechanism of imposing austerity measures in greece portugal and spain so the banks

can keep the bad things you in america open and of course there's china and there's japan who are financing to the tune of two trillion a year all these debts of america so is it going to feed the american population in the petting zoo or the military operations around the world it looks like a worse situation than in greece all right thanks so much for being on the kaiser report thank you max i'll go much more coming away to see whether i. really believe some signs and signals from the realms. we're going to the future are covered.

richard price. from feinstein. who stars on t.v. dot com. but come back to the kaiser report time now to go to new york and speak with dr michael hudson dr hudson welcome back to the kaiser report thank you very much all right dr michael let's and let's get into greece your thoughts on greece what's happening well it says it finances become the new mode of warfare there the financial times reported that one parliament passed the agreement to surrender to europe it was done to the smell of tear gas in the sign of sirens and the wall street journal had a very interesting article saying well now it's time for them to us sell the

parthenon sell off the greek islands business but in the past you need an army to achieve what today is being done up financially so playoffs and bankers are the new army and instead of an army coming into seize the land which involves people dying you simply have the i.m.f. representatives and your bio the socialist party and tell them look just surrender give us your land give us your property this is phase two of the financialization progress programme and i can't believe this is going to actually succeed if a country is going to impose itself on poverty reduce its wages by thirty percent and first that the entire public sector to foreign creditors people should have a code otherwise it's not legal there is no referendum. isn't greece over whether people are going to actually democratically acquiesce in the surrender and this means that when there is an election if there ever is reached and legally say

look this was imposed upon us we didn't vote it's not democratic it's not binding and they can take back whatever is being given because certainly there will be another the fall certainly the way to make sure it isn't the fault is the fall of it he landed in the i.m.f. plan and impoverish the economy because impoverished economy makes it less able to pay not more evil as is the one thing that the whole world has learned from the i.m.f. austerity program making sixty's and seventy's and the 1980's ok so when you hear people debating this they bring up by slant they also bring up argentina they say can make a comparison with iceland or argentina in iceland's case they say well you know as the crow now wasn't part of the euro greece is bound by the euro so how do you come back and about those concerns or those folks to say can't really compare the the

him well when greece joined the euro what it thought it was doing was joining a united europe and the idea of the united europe the european union was europe was never going to go to war internally with each other again somehow the i.p.o. of european unity became i checked to surrender to a financial oligarchy and turned over all the property to bankers to the wealthiest one percent of the pyramid and roll back the west the recent years to new york feudalism greece didn't realize it was signing on to you know feudalism and that's what the european central bank is all about is not a central bank it doesn't do it a central bank it doesn't finance government budget deficit. which is what the bank of england new york but over his or her u.s. federal reserve and other banks do it simply stands by and forces government.

to result in more and more debt to commercial banks so that instead of government deficits extending the economy with new investment in employment and for market demand a government deficit shrinks the economy by leading to foreclosures and forfeiture of the public domain forfeiture of houses and mass impoverishment that is not what greece thought it was signing on to so what it should do is saying. this is not the europe we thought we were getting we're withdrawing we just strain portugal and ireland was just as ireland voted against the list and constitution and they should say this is nonsense this is war and we're pulling out and we're putting our economy up for grabs for those countries probably in the break up block that well except us into their currency area because we're not going to stand for this ok

same as in germany there germany is portraying themselves as the victim that greece are feckless characters that don't pay their bills they're underwriting their retirements and i want to feel sorry for germany and yet of course germany has benefited loudly because they're in all of this it has kept the euro relatively cheap and euro and the germany is a huge export powerhouse suchlike a little bit about this is their money their victim or is germany really the predatory both because the question you're really asking is what is germany is germany to the banks or is germany the industry in the population banks recklessly to lend out money as a french banks to greece and are holding greek bunts and affright it who. knows what value we don't know how determined banks are bell ewing the great ponce on her balance sheet right now and a german or french or other european bank can buy

a greek government bond say fifty percent. pledge this to the european central bank and get hold euro's a hundred fold value on a dollar and get free money by speculating we don't know whether the german banks or the french banks are carrying this greek debt market value or a nominal face value so germany is itself is being sacrificed. to the banks and i don't think you can say that the interest of the banks of the one percent is the interest of germany unless you're redefining germany and redefining europe as a kind of neo feudal oligarchy society run by the back so that's why angela merkel herself is losing electoral support in germany the whole political spectrum in europe is being thrown into disarray by the fact that up to the words left and right i mean when you have the whole issue basically one of finance finance cuts

across the political spectrum from left to right it's a it cuts across the spectrum of what is germany what is france what is europe and it really has a class war back in business in a very different way than was for saying in times past it's a class war banks against all the rest of society trying to grab all of the property and the political spectrum hasn't been able to deal with it except for the socialist party and social democratic parties and socialist international. president under a it was the head in greece around the far right a political spectrum now and the old are right wing parties the conservatives are moving to the left of the socialists everything is. turned upside down by a financial izing economy that's worked so financial engineering has become the new means of production setting out the ancient class wars have reemerged but the

classes that are getting disenfranchised are not even aware of the fact that they're being occupied by these weapons of mass financial destruction is financially engineered products it's a stealth coup there and the people in greece seem completely. they don't know that they're being attacked in this way well if you really financial engineering to the means of production it doesn't create new means of production it strips exits and this is what's been happening in america since the one nine hundred seventy s. with each other takeovers financial takeover it's almost all of these take over just ended up impoverishing the company you know a financial takeover stollen by a white powder to corporate of the pension funds over the employee stock ownership plans you know right out of but the company's all different pension. and you have really a luti by the financial sector this is not

a production function this is a looting function and our that's what the financial sector is turned into today looting not financing the means of production right let it you could say that these banks are however producing risk that's what the end product of their production is and they put it into the public domain but i want to ask you just to walk through kind of the global financial market here for a second let's say that the european banks they're buying greek debt they they stand to lose a lot of money if greece or when greece defaults however there's another wildcard here and that apparently the american banks have taken out insurance for the greek for the european banks and their bond holdings in the form of credit default swaps who actually stands to lose the most here the euro been banks who own the bonds who are the american banks to insure the bonds there are a lot of. financial analysts that are asking it bad and what they have noticed is that just this the e.u. and the european central bank was to take a more lenient position for ireland you have u.s.

treasury secretary geithner saying wait a minute take a hard line for for ireland you have to crush it because we've the u.s. banks financial casinos have insured irish debt same thing with greece is the u.s. treasury that comes in and says wait a minute are tied into the system has turned into a i j p we've insured the greek debt and we can't afford to take a loss so your europeans have to take a loss you have to impoverish your later so that our financial wall our wall street because the you know capitalist firms like goldman sachs can make a kelly and they can't pay their people one hundred million dollars a year in salary if you don't impoverished your labor we're making money off you and that's the financial system best that we call stability so you may think it's our risk but it's not our risk if we're telling you what to do but you are different risk isn't a risk if you let the u.s.

treasury act is the battering ram for the wall street firms that insure the rest and say you think there's a risk we're going to make sure that all the rescues on that that are in it or can't pay the creditors don't lose the insurance companies don't close because we're going to take it out of greece out but the parthenon give us your island give us your. ports and your water supply your sewer system for us to put tollbooths not that that kind of risk that the u.s. is talking about is real but greece's risking is a wet back into something worse than it suffered under the out of an empire and seventeenth and eighteenth and nineteenth centuries is the i.m.f. all the paper and what you say solvent is that it was almost out of business two years ago and it had only target. the final client what is save the i.m.f. has been the wall street crisis best put it back into business essentially is that any minute economist i am as it has been called in. a firm would call in

a group mafia assassins to kill the labor union organizers and the company. and that really is the i miswrote it's the assessment of the economy so is a solid well it's backed by the military. expect but the us government and the i.m.f. literary spec but they've appointed such an end and notorious anti-labor advocate as christine like that british should just leave all the countries to say look you're here a formal we've got to start over again this is we're not going to stand for it all right dr michael hudson we're going to leave it there thanks again for being on the kaiser report as a great pleasure to be here. nothing to do with this this other guy has a reporter with me max kaiser and stacy herbert i thank my guests dr michael hudson if you want to send me an e-mail please do so at kaiser report at r t t v dot are

you and so next time this is max has are saying. in the.