on twitter and frowsy i thank you so much for watching we have a great night and christine for sound. a charmer in her broadcasting live from washington d.c. coming up today on the big picture. today violence is once again flared up. these are the images the world from the

streets of canada. corp. imax kaiser this is the cause the report i believe was the first one in the world to point out that there's a lot going on in europe. putting beneath the surface. in germany four point zero. let's get some more details from stage yes max we are 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 or 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 or semen. 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 going 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 spring 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 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 and empowered because of their successful raid on ireland there's a 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 in the headphones like john paulson and the wall street banks and the corrupt government officials in europe have coal looted together obviously to impose to our coalmine measures as a result of a racketeering charge a racketeering campaign to do stabilise and confiscate this is you know terrorism but you know as i've seen of the people all 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 their tollbooths right these are told to say give income to the government. first of all by giving that was over they reduce 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. list it on a train it will 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 let's recall 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 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 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 and we have a reunified germany who is now talking about greece south germany.

socially what it's becoming yet then comparing 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. conquer conquistador european threat as we have been 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 is being stopped or money so this guy let's call him junker because he's a junk bond salesman basically he said 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 nine hundred ninety and 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 what was the french banking system and not sarkozy and they all concocted this for cock to plan which i guess was being. yes and he is counting as a fault but here's a country that have this revolution where heads were child off because i'm told we were 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 in two 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 brand 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 which encounter 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 authorities offer five hundred dollars for tips and 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. 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. the fires are being created by manmade global warming which is being as 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 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 chart 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 and you say people come to visit to pet the baboons in america and the money that they deposited at the zoo was used to feed the bedroom so that's the business model of america that's all they got a lot of there's one big bamboo petting zoo but you wonder like. who is financing the rest of those who use the either america. are 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 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 pub 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. the official. on the phone the i pod touch from the. life on the good. video on demand on cheesemonger. omissions for you now in the palm of your. machine on the cong.

but i'm 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 and your thoughts on greece what's happening well it's as if 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 care 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 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 into seize the land which involves people dying you simply have the i.m.f. representatives and your buyout of a socialist party and tell them look just surrender give us your land give us your property this is phase two of the financials asian progress program 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 forfeit the entire public sector to foreign creditors people should have a coat otherwise it's not legal there is no referendum. greece over whether people are going to actually democratic late 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 they can take back whatever is being given because certainly there will be another default certainly the way to make sure it. is it the fault is the fall of it he'll land in the i.m.f. plan and impoverished the economy because impoverished economy makes it less able to pay not more evil this is the one thing that the whole world is learned from the

i.m.f. austerity programs than the one nine hundred sixty s. and i think seventy's and the 1980's ok so when you hear people debating this they bring up iceland they also bring up argentina they say you can make the comparison with iceland or argentina in iceland case they saying 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 talk about those concerns or those folks to 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 the wealthiest one

percent of the pyramid and roll back the last thousand 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 there's no central bank it doesn't do it a central bank does it doesn't finance government. social which is what the bank of england new york federal reserve or u.s. federal reserve and other banks do get simply stands by and forces government deficit to result in more and more debt to commercial banks so that instead of government deficits extending the economy with new investment in the climate and for market demand government deficit shrinks the economy by leading to foreclosure and for. future of the public domain forfeiture of houses and mass impoverishment debt is not what greece thought it was signing on to so what it should do is saying . this is not be europe we thought you were getting we're withdrawing we shut the

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 block but well except a sense of their currency area because we're not 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 like a little bit about this is there are many that victim or is germany really the predatory will go through because the question you're really asking is what is

germany is germany to the banks or is germany industry in the population bank so recklessly lent out money as it french banks to greece and are holding greek buns. frank who knows what value we don't know how the german banks are bell uing the great ponds and their 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 all euro's it up and at full value on the dollar and get free money by speculating we don't know whether the german. so 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 to 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 i guess 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 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 cuts across the spectrum of what is germany well as france well as europe and it really has put a class war back in business in a very different way than north for sane in times past it's a class for 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

but the socialist party and social democratic parties and socialist international. president cut and rail as they head in greece are on the far right of the political spectrum now and the old right wing parties 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 this in franchised 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 are the people in greece seem completely. they don't know that they're being attacked in this way well if 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 truck takeover it's the financial takeover it's almost all of these takeovers ended up impoverishing the company used you know a financial takeover column by a white powder because of the pension funds of ugly ploy stock ownership plans you have a wipe out of what these companies hold 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 what the financial sector is turned into today looting not financing the means of production and that 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 palm of their main but i want to state 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 form of credit default swaps who actually stands to lose the most air 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 they are and what they have noticed is that justice of the e.u. and the european central bank was to take a more lenient position to ireland you have 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 the financial casinos have insured irish debt same thing with greece it's the . the u.s. treasury that comes in and says wait a minute are quite intell 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 your later so that our financial well our well

straight casino capitalist firms like goldman sachs can make a telling and they can't pay their people one hundred million dollars a year in salary if you don't impoverish your labor we're making money off 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 but the do what you refer to 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 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 put cold who thought that kind of risk the u.s.

is talking about is really greece's risking is a let's back into something worse than it suffered under the out of an empire and some in pain and they think centuries is the i'm not solvent but you say solvent is it was almost out of business two years ago when it had only turkey as the final client what is saved the i.m.f. has been the wall street crisis best put it back into business essentially is that a man of economies i am as it has been called in like a firm would call in a group mafia assassins to kill the labor union organizers in a company town and that really is the i.m.f. throw it's the assassin of economy so it is a solemn. well it's backed by the military it is spec. of the us government and the i.m.f. the very fact but they've appointed such and the notorious anti leader advocate as

christine like back should just leave the countries to say look your 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 is a great pleasure to be here. and that's going to do it for this other guy has a reporter with me max kaiser and stacy herbert are they my guest dr michael if you want to send me an e-mail please do so at kaiser report in r t t v dot ru and so next time this is max has are saying.

the atlantic. eleven.