closing video for your media projects free media john darche john's time. for the full story we've gone to. the biggest issues get a human voice face to face with the news makers on r.t.e. . our three thirty pm here in australia with a quick recap now about top stories germany wants the power of credit ratings agencies to be curbed after moody's could portugal the risk of a second bailout but as the new i.m.f. chief tries to prove she's prioritizing europe's debt drain the media circus remains transfixed by the sex scandal that toppled her predecessor. the un's of findings into last year's fatal gaza aid flotilla rate are due to be released but israel refuses to apologize to turkey killing nine of its citizens on board. and

a laser hooligans are putting their passengers at rest risk in russia by blinding pilots with powerful beams of light as they land more than fifty cases of lasers being shown into the cockpit has been reported this year on the. lives of the main i have. promised and stays in check out the bailout bargains as greece goes on sale to scrape together some cash the kaiser reports next. i am max kaiser this is the kaiser report i believe was the first one in the world to point out that there's a lot going on in europe they actually need to focus on putting in their service.

in germany four point zero. let's get some more details from stacey herbert yes max we're seeing the introduction of neo feudalism into europe as we've said all along cells cells everything must go in great fire sale europe's most indebted countries and grit in have put prized assets up for grabs to bolster their credit worthiness so what exactly is on offer a 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 and i'm not for snow. whatever that is a sooner it has something to do with horses it's all about more semen ok and then spain is selling thirty 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 euros 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 make it short cells 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 and in power because of their successful raid on ireland there's successful raid on

greece and. they're 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 and the headphones like john paulson and the wall street banks and the corrupt government officials in europe out cold looted together obviously to impose to our conan measures as a result of a racketeering charge a racketeering campaign to destabilize and confiscate this is you know terrorism but you know as a percent of the people along the fact that they don't rise up revolt the joke's on you but this is the thing that we're seeing across europe people are giving up these nations are giving out income producing assets they're basically they're

tollbooths right these are told to say give income 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 estate laundry were to simply list themselves on that as deck that amount of income one 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 a stick 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. listed 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 unless 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 in greece is a treasonous it's a treasonous what should we call it and the other thing about spain of course is by their bonds are being attacked by their 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 of things that has nothing to do with capitalism capitalism in 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 but oh the people in gaza the problem is capitalism no the problems are being occupied well here's the evidence of course and this has been big news everybody has 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 kid into the vast selloff of east german firms and the one nine hundred ninety s. after the fall of communism this is from a junkyard young girl chairman of the euro group of finance ministers this is my thesis this is what i've been saying this is the underlying reality in. 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 also 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 conquistador european thread as we had better in the past and the thing about the euro was supposed to eliminate the 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 when greece has been south 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 taken the junk off. private bankers. holdings and transfer 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 to have 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 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 well is the french banking system and cozy and they all concocted this

for cock to plan which i guess was being read. yes and he is counting as the fault but here's a country that had this revolution where heads were chopped 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 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 sans 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 that little land space which encounter less ago 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 getting rid of the assets before the i.m.f. and the bankers can take it authorities offer five hundred dollars for tips and heist of 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 metal 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. the 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 fire i've just left it on but max 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 and medicaid but i see the country has become basically. petting zoo is the people come to visit to pet the baboons in america and the money that they deposited as it was used to feed the bedroom so that's the business model of america that's all they've got a lot there's one big. but you wonder like. who is financing the rest of this who

is the either american. are living totally off the good kind reached the greeks are financing the rest of the data transfer mechanism of imposing austerity measures in greece portugal sprain so the banks can get 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 so see right there. you.

but i'm back to the kaiser report time now to go to new york and speak with dr michael hudson dr hudson a lot of back to the kaiser reports thank you very much all right dr michael lots and let's get into greece your thoughts on greece what's happening well it's as if finances become the new mode of warfare there the financial times reported but when parliament passed the agreement to surrender to europe it was done to the smell of tear gas in the sign of sirens and other wall street journal editorial interesting

articles saying well now it's time for them to us all apart and on sell off the greek islands this is what in the past you need an army to achieve but today it is being done now financial aid so finance and bankers are the new army and instead of an army coming in to seize the land which involves people dying you simply have the i.m.f. representatives and your buyout of 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 program and i can't believe but this is going to actually succeed if a country is going to impose itself on poverty reduce its wages by thirty percent and forfeit the entire public sector to foreign creditors people should have a coat otherwise it's not legal there is no referendum in greece over whether people are going to actually democratic. late acquiesce in

a surrender and this means that when there is an election if the rubber 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 default certainly the way to make sure it isn't the fault is the fall of it he will claim in the i.m.f. plan and impoverished the economy because impoverished economy makes it less able to pay not more able this is the one thing that the whole world has learned from the i.m.f. austerity program since the one thousand sixty thousand eight hundred seventy s. and the late teenage it's ok so when you hear people debating this they bring up iceland they also bring up argentina they say can make the comparison with iceland or argentina in iceland case they say well you know it was a crown i wasn't part of the euro greece is bound by the euro so how do you come

back and talk about those concerns or those folks who say you can't really compare the the him well when greece joined the euro what or thought it was doing was joining a united europe and the idea of 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 hijacked to surrender to a financial oligarchy and turned over all of property to bankers the wealthiest one percent of the pyramid and roll back the west coast and here to out near 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 what a central bank does it doesn't finance government. social just like the bank of england new york federal reserve or u.s. federal reserve and other banks do. it simply stands by and forces government

deficit to result in more and more depth to commercial banks so that instead of government deficits extending the economy with new investment in the employment and full market demand a government deficit shrinks the economy by leading to foreclosures and forfeiture of the main forfeiture of houses and mass impoverishment that is not greece thought it was siting on so what it should do is saying. this is not a europe we thought we were getting we're withdrawing we just the strain portugal and ireland was draw just as ireland voted against it was spent on a 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 listen to their currency area because we're

going to stand for this ok so imagine germany there and germany is portraying themselves as the victim and that greece are thankless 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 wild labor because during all of this it has kept the euro relatively cheap and euro and the germany is a huge export powerhouse such talk a little bit about this is there many the victim or is there are many really the predatory zero growth because the question you're really asking is what is germany is germany the banks or is germany the industry in the population german banks recklessly to lend out money as a french banks to greece and are holding greek buns. afraid who knows what value we don't know how determined banks are bell ewing the great pun. balanchine right now a german or french or other european banks can buy

a greek government bond say fifty percent. pledge this to the european central bank and get all euro's a hundred fold l.-u. on the dollar and get free money by speculating we don't know whether the german banks are the french banks or caring is 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 prop two 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 like 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 most for sane in times past it's a class war of 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 this except for the socialist party and social democratic parties and socialist international. president top and radio is the head and greeks are on the far right of the political spectrum now and the older right wing party the conservatives are moving to the left of the socialists everything is turned upside down by financial izing economies that nestlé so financial and. meringue has become the new means of

production setting up the ancient class wars have re-emerged 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 is what the people in greece seem completely and 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 sets it up so this is what's been happening in america since the late one seven east with each other takeovers so the financial takeover is almost all of these takeovers ended up impoverishing the company used you know a financial takeover followed by a wipe out a big corporate of the funds over the employee stock ownership plans you have a white out of what these companies are old for pension. and you have really

a looting by the financial sector this is not a production function this is a looting function and our that's look the financial sector is turned into looting not financing the means of production brain let 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 were asked it 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 or the american banks to insure the bonds there are a lot of financial analysts that are asking and what they have noticed is that just . you and the european central bank was to take

a more lenient position cairo and you had u.s. treasury secretary geithner saying wait a minute take a hard line for a for ireland you have to crush it because we've the u.s. banks financial casinos have insured irish debt same thing with greece it's the u.s. treasury that comes in and says wait a minute mark i handle system has turned into a i'd shape 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 year later so that our financial well our well three casino capitalist firms like goldman sachs can make a killing 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 that's what we call us to go they so you may think it's our risk but it's not our risk that we're telling you what to do but you are

different risk isn't a risk if you let us 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 rest is on the better and the better can't pay the creditors don't lose the insurance companies don't lose because we're going to take it out of greece out rekeyed that's the parthenon give us your island give us your. ports and your water supply your sewer system for us to quit cold with thought that that kind of risk the u.s. is talking about is really increases risk is a let's back into something worse than it suffered under the out of an empire some in an eighteenth and nineteenth centuries is the i.m.f. solvent but you say follow until it was almost out of business two years ago when it had only turkey is the. client what is save the i.m.f. it's been the wall street crisis best. put it back into business essential is that

a minute a cut of the i am as a has been called in like a firm would call in a group both mafia assassins to kill the labor union organizers and a company town and that really is that i miswrote is the assassin of economy so is the solemn well expect by the military it is specter the us government and the i.m.f. their effect but they've appointed such and the notorious anti-labor advocate as christine like back rich should just leave all the countries to say look your dearie formable 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 like you know is the great pleasure to be here right now is going to do if this doesn't look as a reporter with me max kaiser and stacy herbert and i think my guest dr michael hudson if you want to send an e-mail please do so at kaiser report in r t t v dot

ru until next time says max has a thing. in the.