so it's all in the car to neutral because of emission marco resource mitchell who saw the. results michael beverly hills of the home of the riviera hotel mccann cintra who told me. if you just joined us a very warm welcome this is all to live in moscow top stories now after hacking in now it's shutting down evidence that britain's biggest selling newspapers snooped on the phones of terror a murder victims spell the end for the news of the book. high profile photographers arrested in georgia suspected of spying is not enough as a convicted for espionage the country's opposition says the government is muzzling the press to cover up its own problems. out of credit

rating agencies after a downgrade of portugal's debt to junk status leads world markets panicking over a bailout and the knock on effect elsewhere. about with more news stories of the news for you less than thirty minutes from now meantime check out the. greece goes on sale to scrape together some cash because a report next. imax 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 that you need to focus happening beneath the surface. germany four point. let's get some more details from station yes max we are seeing the introduction of neo feudalism into europe as we've said all along

sells sell sell everything must go in great 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 but i'm not for snow. whatever that is a soon that has something to do with horses it's all about horse eamonn it k. 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 terrorist of people who sell short bonds to destabilize the country's finances in preparation of extracting wealth and these are of course naked short cells which are counterfeiting they sell things that don't exist it's 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 a little 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 of the s. and p. in the fictional rating agencies combined with the wall street branch of the headphones like john paulson and the wall street banks and the corrupt government officials in europe have colluded 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 a percent of the people on 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 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 break 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 in income now think of it in these terms if greece a state lottery were to simply list themselves on nasdaq that amount of income nine hundred million in income would be worth nine to fifteen billion as a stock equity offering on nasdaq take a company like groupon for example they're losing four hundred fifty million dollars a year they're going to go public on nasdaq 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. 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 is a treasonous what we call in 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 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 and dogs the problem is capitalism no 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 steve got 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 a junkyard 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 and we

have a reunify germany who is now talking about greece as south germany. and 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't conquer conquistador european threat as we have bet 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 bruce is being sought after money 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 hand 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 the peak of their income producing partner 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 thank you 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 monoxide cosey and they all concocted this for cock to plan which i guess was being read. s. and p. is counting as a cult but here's a country that had this revolution where heads were child off because of tollbooths

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 sans the end of bretton woods in one nine hundred seventy one just more and 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 west west west germany a little less space between canada and 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 getting rid of 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 of all covers and other pieces of utility equipment throughout riverside county yeah this is really where you see amazing force multiplier to use a 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 a fire hydrant are made out of metal higher incentivizing people to steal them at the same time the 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 just love going 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.

court to federal government receipts so this is their income they collect that's just over two point four trillion and then try 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 but i see the country has become basically. petting zoo. people come to visit to pet the baboons in america and the money that they deposited at the zoo is used to feed the bedroom so that's the business while up in america that's all they've got a lot there's one big bamboo planning zoo but you wonder like well who's financing the rest of this who's good either american. living totally off the good kind rakes the greeks are financing the rest of the data 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 becoming a wait and see right there but. it will. remain you believe just in science and technology from the realms. of the future of coverage. down to the official t.m.p. cation cure for the i pod touch from the top still. life on the.

video. now in the palm of your. but going 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 reports thank you very much all right dr michael hudson let's get into greece your thoughts on greece what's happening well it says it finances the new mode of warfare there the financial times reported earlier. 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 off the parthenon sell off the greek islands this is what in the past you need an army to achieve what today is being done now financially so finance and bankers are the new army and instead of an army coming out as these 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 that 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 vote otherwise it's not legal there is no referendum. greece over whether people are going to actually democratically acquiesce in

a 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 a not any fault certainly the way to make sure is that he falters the follow that he will plan in the i.m.f. plan and impoverish the economy because impoverished economy makes it less able to pay not more able this is the one thing that the world has learned from the i.m.f. austerity program since the one thousand nine hundred fifty s. and seventy's and the 1980's ok so when you hear people debating this they bring up by signs they also bring up argentina they say can make the comparison with iceland or argentina. 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 who say can't really compare the the him well in 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 idea of european unity became i checked to surrender to a financial oligarchy and turn over all of property to bankers to the wealthiest one percent of the pyramid and roll back the west in here to 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 budget deficit which is what the bank of england new york federal reserve or u.s. federal reserve and other banks do it simply stands by and forces government does

that 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 foreclosure and forfeiture of the public domain forfeiture of houses and mass impoverishment that is not what greece thought was signing on to so what it should do is saying. this is not be europe we thought we were getting we're withdrawing we just stain portugal and ireland withdraw just as ireland voted against douglas the constitution and they should say this is nonsense this is war and we're holding out and we're putting our economy up for. just for those countries probably in the burka block well except listen to their currency area because we're not going to stand for this ok say

manson germany their germany is portraying themselves as the victim 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 thurman has benefited loudly because during all of this it has kept the euro relatively cheap and europe and the germany's huge export powerhouse so it's not a little bit about this is there are many that victim or thurman the really the predatory both because the question you're really asking is what is germany is true many of the banks nor is germany industry in the population german banks recklessly lent out money as a french banks to greece and are holding greek bunts and affright who knows the value we don't know how the german banks are bell ewing the great

ponce other balance sheet right now 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 full euro's a pound and full bell you on the dollar and get free money by speculating we don't know whether the german banks or the french banks are carrying this three 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 all of the arctic society run by the back so that's why angela merkel herself is. losing a lot carol support in germany the whole political spectrum in europe is being

thrown into disarray by the fact that the words left and right mean when you have the whole issue basically one of finance finance cuts across the political spectrum from left to right it's like it cuts across the spectrum of what is germany well as france that is europe and really has the class war back in business in a very different way than north or sane 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 this except that the socialist parties and social democratic parties and socialist international. a president under a it was the end in greece are on the far right of the political spectrum now and the old a right wing party the conservatives are moving to the left of the socialists everything is turned upside down by financial izing economy nestlé so

financial engineering has become the new means of production setting out the engine 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 these 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 twelve you relate financial engineering to the means of production it doesn't create new means of production it strips excess and this is what's been happening in america since the one nine hundred seventy s. with the chalk on takeover it's other financial takeover its promise all of these takeover east ended up impoverishing the company used you know a financial takeover started by a white out of the corporate pension funds. be employee stock ownership plans you have a white out both but these companies hold for pensions. and you have really

a luti by the financial sector this is not a production function this is a looting function and how that's like a financial sector is turned into today looting not financing the means of production right 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 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 a european banks and their bond holdings in the from the credit default swaps who actually stands to lose the most here the euro pin banks who own the bonds or the american banks to insure the bonds there are a lot of financial analysts that are asking go out and what they have noticed is that just because of the e.u.

and the european central bank was to take a more lenient position to ireland you had u.s. treasury secretary geithner saying wait a minute take a hard line 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 our financial system has turned into a i j 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 casino 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. if you and that's the financial system that's what 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 refer to

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 risk we're going to make sure that all the rest is on the better and better 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 rekeyed us the parthenon give us your island give us your. ports and your water supply your sewer system for us to cook told who thought that that kind of risk that the u.s. is talking about. greece's risqué is a let's back into something worse than it suffered under the out of an empire in the seventeenth and eighteenth and nineteenth century it's is the i.m.f. solvent it depends what you say solvent is it was almost out of business two years ago when it had only turkey as the final client but to save the i.m.f. has been the wall street crisis best put it back into business essentially is that

a minute economies i am as it has been called in like a firm would call in a group of mafia assassins to kill the labor union organizers in a company town and that really is a mess wrote it's the assassin of economy so it is a solemn well it's backed by the military it expect by the us government and the i.m.f. literary spec that they've appointed such an end and notorious anti-labor advocate as christine like our british should just lead all the countries to say look you're eerie 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 thank you. it's a great pleasure to be here. and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i will thank my guests dr

michael odds and if you want to send me an e-mail please do so at kaiser report at r t t v dot ru until next time says max kaiser something. the way.