this is our money was kevin though in let me bring you up to date on our top story the first funerals have been held now in russia's republic of tatarstan as the country mourns victims of sunday's pleasure cruise the sinking of the most one hundred deaths have been confirmed so far many of them children meanwhile the search for dozens of bodies trapped under water continues to. flow out of the french parliament voted to extend the military campaign in libya that's what analysts highlighting consistencies in paris is frantic attempts to find ways out of the deadlock including a recent suggestion that the rebels should negotiate with colonel gadhafi. and the

half brother of afghan president hamid karzai has been assassinated in his own home the death of a powerful politician allegedly linked to drug trafficking deals a blow to nato his plans to leave a stable country behind when its troops withdraw. one of the headlines for you wiki leaks founder julian assange is back in a london court fighting an earlier decision to be extradited to sweden over sex crime occasions but his supporters say the case is just a pretext one hundred over to the u.s. . our programs continue next on r.t. financial guru most kinds of names and shames who he thinks is behind the world's financial turmoil and he's got something to do with the fridge a kaiser report is on the. max kaiser this is the cause or report let's get all the details from stacey or tax

europe declares war on rating agencies of course the policymakers from europe and across the world have denounced moody's drastic downgrade of portuguese debt as an act of financial vandalism accusing the anglo-saxon reading agencies of driving states into bankruptcy and destabilizing the global system yeah that's right they call it financial vandalism she they're upping the rhetoric and we we've been talking about financial terrorism for months and months and months now they're upping their rhetoric they're going to get to the point now where they realize that this is in fact not vandalism which is a quaint way of saying terrorism they didn't accuse asylum bin laden of vandalism on nine eleven zero never did that it was an act of terrorism moody's s. and p. and fitch are financial terrorists and they are purposefully targeting these countries for destruction because they want their assets for nothing well portugal's new premier a page of process coelho said moody's downgrade was

a punch in the stomach at a time when the new government has done everything demanded by the e.u. and i.m.f. inspectors well that's part of the rocket motors is a publicly traded company warren buffett on the biggest shareholder they manipulate that stock price they manipulate their ratings they telegraph what the regs are going to be before they make them so the insiders can profit from the inside information inside information is legal in washington they are lining their pockets they're disenfranchising the people who live in these countries who are left austerity measures imposed upon them for things they never did and that's they never occurred and this is continuing unabated because nobody stepping in to represent the interest of the people the government like a drill in greece is in the pocket of the terrorists proper drill you are a terrorist you are a financial terrorist to your country a favor in talkers. so minor flaw spec director of the u.n. office for world trade and development said the agency should be dissolved before they can do any more damage or at least banned from reading countries or they should create their own rating agencies nothing stops portugal from creating the

portuguese bond rating agency and issuing a rating on american debt as deep as technically in default and therefore it would shift all those hedge fund capital reserves into portuguese debt and root it out of us worthless shit but also the other thing we see here max is that none of these rating agencies were held accountable for their crime wave leading up to the two thousand and eight financial disaster none of them saw jail time none of them faced any criminal charges and because of this you see them able to hijack and hold hostage and terrorize nations around the world are able to continue doing this just like rupert murdoch will continue to terrorize and all sorts of people throughout britain because he's able to tap phones because he's friends with david cameron and who knows what his phone taps on david cameron's phone have on david cameron and why david cameron is that label to act against rupert murdoch so this is the same situation all these oligarchs in this neo feudal system are able to get away with

fines or the like little slaps on the wrist for doing anything wrong right well we have further proof that moody's is committing acts of fraud and terror in the icelandic economy is bouncing back after the kicked out of bankers and worth the upgrade well that's my next headline yeah max credit raters who didn't predict iceland crisis mis rebound so the credit agencies that failed to see the icelandic economic collapse coming in two thousand and eight are now refusing to recognize it's a mess or action of course this shows that it's a racket because what iceland had a aaa rating up to four months before its collapse why because it was doing exactly what the banks want this is part of the racket they they were loading up the country with what fourteen times its g.d.p. . and debts and now because they've kicked out all the banks there is they're never going to get their any sort of rating back but in the real world when iceland held an auction recently it was a two times oversubscribed great lesson for greece greece says oh my god if we

default on our debt no one will buy our bonds again that's false look at iceland two times oversubscribed for their latest tranche of debt default now rebuild your economy but keep your song from to keep your sovereignty which is paul younger saying oh we don't think that the greek people should have their own sovereignty we think it should be south germany we want to run the entire european show they do already they've already been occupied by germany once you go in for twice what are you in this icelandic regard waldemar arman an economist at reykjavik based asset manager gamma says when you look at how successful that option was it's clear that investors are now crunching the numbers themselves and that the credit grades from the rating agencies are less relevant. well that's because they are committing massive acts of fraud and you know you can't just say it's the wall street banks who are committing this massive fraud with impunity and it's entirely their fault because after all you want them to be aggressive in their attempt to make money the

really the the blame falls on the regulators which means the u.s. government in this case or the u.k. government and barack obama are again david cameron and this is where the two stories dovetail with cameron because in the case of britain not only are they lax with financial terrorism but now is lax with murdoch who is the dog poop of major media yeah but i mean to that we actually don't have governments max that these regulators are not operating on behalf of the people because they are actually are only a wing of those corporations who they're allegedly regulating it's just the facade for the people there is no such thing as government in our world today you know in a club talk r.c. you can rightfully refer to people sitting in those offices as a government no you're right of course when moody's downgraded portugal by for not just to junk. spreads on irish debt it's irish begged to buy fridges to boost the economy so the yield on ten year bonds rose to record amid

increasing speculation that the nation's credit rating may join greece and portugal and being downgraded to junk and the only thing that could rescue them they're saying is consumers but the consumer savings rate is over twelve percent look this is a complete disconnect between what a sound economic policy should be and the benefits or harm it may impose upon the population but people in ireland should not be out incurring more debt to buy consumer nondurables in white goods like refrigerators and washing machines they want to save money and they want to higher interest rates and they want higher wages so why is the government or whoever at the club to credit class encouraging that they go deeper into debt. well let's see because it allows the policymakers to legitimize more quantitative easing which keeps interest rates artificially low that helps to own the speculators the speculators in the rating agencies and the cooker kratz and the syndicates who are destroying the economy well irish resale

sales are falling at more than twice the pace of the average in your region after the government increased taxes and reduced salaries for state workers by fourteen percent and the irish economy is only fifty three percent consumption and the us a seventy so imagine what happens when these austerity measures are introduced to the u.s. right now we're in a spiral in greece ireland of portugal because of all the austerity measures that the economies are just spiraling into nothing then what chumps these irish are because remember when they were the first to go into the sterile butchering they didn't revolt in any way and then when athens started to revolt in the street people in ireland are very proud of themselves though we're in the greek when they are thinking that we're not out there actually defending our interests and you see that there are no plans anywhere where the greece portugal or ireland to develop a real economy at all irish finance minister michael noonan has pleaded with

consumers to replace their clocked out refrigerators and tumble dryer so where are these kumble dryer is the refrigerator is made probably china or germany it's not going to help their economy at all consuming does not help their economy producing helps their economy the companies that the irish government is encouraging to relocate to ireland and in dublin now are companies like. that create virtual currency which is a backdoor way into gambling they just figured out a way to go around gambling laws this is what the irish government wants they want first racing they want think again bling and they want to totally collapse so i guess i know the government can do this they can press a lot. allows people to cash in their sink of dollars for guinness this way you keep in the neighborhood and broke good going so over in the us a response to deficits has been an attack on workers as well union workers replaced with prison labor under scott walker's collective bargaining law to state

employees in wisconsin make an average of fifty thousand dollars a year and this includes all of the white collar workers all the executives working for the state and includes their pension benefits and health insurance so fifty thousand dollars a year now wisconsin prison inmate cost thirty thousand dollars a year so they're using free scott walker is calling it free labor for maintenance work landscaping and painting jobs so they're paying thirty thousand dollars for these prisoners to do the work but for this part of the global contraction and conflagration in wages in china the wages are moving up in the united states are aggressively moving down and so mike scott walker who is there in madison wisconsin and in wisconsin he's a he's an acolyte of the koch brothers who we know from recent revelations are in bed with the energy companies they themselves being an energy company to speed

up the effects of the ecological hole cost that we're witnessing and so his solution to the labor unrest is to put everybody in prison well next we were just talking about the casino element to the casino gulag economy this reminds me of the gulag economy is that like north korea you have a command and control gulag economy emerging in wisconsin using slave labor to perform your work it never works it doesn't work for north korea north korea probably started out forty years ago down this road on austerity measures that probably started as a way to cut the deficit instead they have a dilapidated economy that relies on the sugar daddy of china. because they can invade the only other way to pay for a gulag economy as germany did was you invade other countries dear leader scott walker but talking about powerful men britain's richest man to build giant arctic iron ore mined britain richest man lakshmi mittal is planning a giant new opencast mine three hundred miles inside the arctic circle in

a bid to extract a potential twenty three billion dollars worth of iron ore the megamind includes a one hundred fifty kilometer railway line and two new ports and it's believed to be the largest mineral extraction operation in the arctic and it relies of course on melting sea ice destroy the open casket mining operation because the earth's ecosystem is dead this fricken guy knows it and you just accept he's basically what he called the guy who rapes a dead person and necrophilia the point is that with the final headline here melting ice caps open arctic for white gold rush scott walker for example he's in prison gulag you they're introducing a gulag economy but he's also a climate change denier for example but there's a gold rush up into the arctic you have all of the certainty of britain's richest man probably a man who finances some of these denying industries because they don't want any competition so you have the whole gold rush whole sways of the arctic across from

greenland canada finland they're all opening up their mining rights there are also small entrepreneurs going up there they find no ice there remarkably a lot of the denying industry is actually telling people that this growing ice is so much ice out there we're entering a new ice age and yet the facts on the ground the business on the ground the people benefiting from this are actually you know up there operating and making money so yeah the deniers are adamant that there's more ice building at the same time they're exploiting the fact that the ice is rapidly diminishing. a server thanks so much for being on the kaiser report for humans ok don't go. much more coming away right after the break. the. first three removal call that a clear cutting. second explosive charges can apply the same way deeper than the fear that. hurt the remainder in the barn machinery. and.

finally the mortgage is deposited in valley feel. completely on our. own comes with. what needs to be splash in the world of heights a business climate churns in france science into ha ha ha products don't understand . he's he's got he followed russian invaders to each of bidders and brought it in their big breakthrough back. sunlight on stone on technology update here on. we've got the future covered. welcome back to kaiser report time now to go to new mexico and talk with guy

macpherson professor emerita of natural resources and ecology and evolutionary biology his blog is nature bats last welcome to the show guy macpherson thanks max it's great to be on with you ok now i guy in two thousand and eleven it's looking to be the worst ever for climate disasters certainly worth of two thousand and ten now the us has seen the worst droughts in recorded history the worst floods in u.s. recorded history the most tornadoes in history the biggest fire in arizona state history is this all just a freaky coincidence or is there something else at work here strongly suspect or something else at work here climate is under way. ratcheting up i don't see any evidence that this is not driven by china climate change in that it's not going to get a lot worse in the years ahead ok so you've taken this pessimistic view for the

moment but segue into my next question here you started out as a climate scientist twenty five years ago but stopped researching ten years ago as part of a transition tell us about it but ten years ago it was that area book on climate change was my most comprehensive assessment to that point and it became clear to me this just over a decade ago that we had probably committed ourselves to extinction of our own him i mourn for six months to the serious amusement of the three people who noticed. that's when i stopped doing primary research on climate change because i thought it was fairly hopeless however shortly thereafter i discovered global peak oil and. the likelihood of reduced. energy supplies in a global level bringing down the industrial economy and therefore forcing us to reduce emissions by eighty percent or so so peak oil and how does it also impact

markets as a whole oil affects the market in in a way for more significant then you would think they simply on the amount of oil in the ground each of the six worldwide economic recession since one thousand seventy two have been preceded by a spike in the price of oil and that the more profound the spike the deeper the economic recession and i don't think we've worked out yet the display from two thousand and seven two thousand and eight that led to what they call the group recession which i call the great depression i don't think we work all that out yet and i foresee another spike on the way could very well bring the bring the whole system down in the united states ok now let's talk about the future of these oil markets we now that the u.s. department of defense consumes awfully four hundred thousand barrels of oil a day or something in the order of two hundred thirty million dollars worth

a barrel of barrels of oil every day while the time come when they simply declare force maybe your and say we're no longer interested in crisis covering free markets we just we're just going to take the oil if you i think this we've been doing since the carter doctrine of the late one nine hundred seventy s. i think the last decent man in the oval office will be known by history for his statement that was respect to the middle east as our oil over there this occurred our so i would argue we've been doing that for a generation or so and now that we're involved in six wars in this country primarily because of those contributors out of the materials we think we need to survive i don't see much change over the course of less thirty years we're doing the same thing we've always been doing which is arctic. any other countries for their materials now going forward from the carter period through the great expansion we've had in g.d.p. which is calm also with an even greater expansion in credit or debt. it seems as

though the peak oil scenario has arrived at the same time as this peak debt or peak credit scenario roughly the same time two thousand and two two thousand and eight seven period now going forward sense much of the trade is done in us dollars does the peak oil scenario in the peak credit coterminous scenario play out is this a net negative or positive for the us dollar i think it's net negative we see a few countries already abandoning the u.s. dollar or at least trying to abandon the us dollar as the reserve currency transactions and other currencies. i refer to this relatively frequently as the titanic of people will smash ing into the. u.s. debt europe the interaction between those two. really big deal that is being ignored marginalized covered up by governments and media around the world now let's

talk about an emerging hotspot in the arctic area the arctic ice sheets are melting and of course this is exposing more possibilities for development but also reviving geo political tensions you've got people saber rattling now trying to take control of these newly exposed areas it's interesting because of course exploring and extracting and processing the energy will exacerbate the speed at which the climate in the arctic is melting so again the short term interests a gallon of oil today seem to be trumping the long term interests of survival of the species is that a fair statement absolutely at the global society to. we're in flight or fight our way we seem to be going after the next the next dollar the next barrel of oil or in the future be damned and i don't know you know half a dozen people who think that the future of their children depends more on climate

change than it depends on ready access to cheap oil and this is incredibly shortsighted now as speaking of big government year of exited empire why and how well i was a professor and a very successful one i had nine books published twenty year career if you were stairs and i was at this research one institution i was well paid so people wonder why would you leave a gig like that. but. some of the most fundamental level the skin tone to a question of morality for me i view cities and she's on as a classic example of a big city in the desert southwest cities of the apex of him talk. tucson arizona extracts all of its water from well beyond the boundaries of the city it starts all of us from well beyond boundaries a city essentially steals resources from other populations from other cultures and

from the future just to survive. at some point you do that long enough and you start to look under the covers pulled at the screen you realize that this is not really old it's cracked up to be in terms of what culture would have us believe in so once you see that you can't unsee it so it became increasingly difficult the last five years for me just just talk about the costs and consequences of industrialization and continue to live there at the apex and i'm tired so i could no longer live in those two worlds finally i just had to exit employer had to leave. so i'm trying this is profound experiment with a couple of partners here on a property in new mexico we have two point seven acres a little bit of water a crank or all of our own generator water from rainwater harvesting solar pumps and

hand pumps. and maintain body temperature and establish good relations are human is big for for me for a stroke a living water food but a temperature and human community so we're going to give that a run but also see if we can set an example for. economic collapse that is underway and is about to be completely not too distant future a way for people to survive and you can thrive in the years ahead now i notice on the polls that are conducted asking people what is the most hated company in the world usually at the top of the last is monsanto monsanto of course has figured out a way to completely co-opt c. and by having the see that blow around and doing the work for the. there see the currency as i like to think of it is in full training the sea stocks everywhere so carry our new mexico you're trying community to be self-sufficient you will at

some point be relying on seeds so how do you fight against that are you actively trying to fight against that it would you agree that monsanto is one of the most pernicious corporate players out there i absolutely agree that monsanto is one one chemical owes the evil monster that the industrial global. society has become. controls are seeds and therefore begin to g. poisons our water be aired controls and messages we receive every day through all we think we're free force but we don't have the control over so many of these factors what we're trying to do in this us and also many of our neighbors is rely on heirloom seeds so we purchased a bunch of heirloom seeds and we're going seed to see with our garden bridge tolls so we save the seeds from this year's tomatoes for next year's tomatoes well we

will be awash despite that in monsanto see g.m.o. janetta in materials a bit we're not really very happy with certainly no doubt just as we'll also be. profoundly affected by cool climate change just as will be profoundly affected but you can only collapse but there are things that we don't have any control over we're trying to control the things we do have control over working within this community and the other parts you know you wish for the best. but there's a lot we can do about some of those characters all right well the increasingly is reports come in from people doing similar projects to yourself for getting off the grid or starting to be self-sustained in communities of their own they seem to be coming under greater and greater attack from the federal government who is of course doing the dirty work for companies like monsanto so you're in kind of

a conflict there therefore with with the feds so is the hope that the fences go bankrupt before they have enough juice to terminate you i mean is that kind of that's the bet you're making there's a loot yes there's no doubt about it you know believed a loosely defined ism is the merging of the state. and. there's a group in there for a while. we're there all right well let's keep the light on for me in case straggle on the night arrives looking for say seltzer i could be myself. well do i kind of person thanks so much for being on the kaiser report but your mixer appreciate the opportunity that's going to do with the decision of the kaiser report with me max kaiser and stacy herbert i thank my guests got experience and who is blog nature bats last if want to send me an email please do so at kaiser

report r t t v are you until next time this is max keiser saying.