effectively a global bottom e. this perpetual copyright as lawrence lessig calls it doesn't extend to the animal kingdom now the monkey took a photo of himself and if anyone owns the copyright it would be the monkey. for this monkey. using his psychic abilities. to contact an attorney immediately and to sue caters perhaps monkey wants people to know about his ideas and his plight in indonesia as the reinforcer being chopped down well that's right the the wilds of the ideas are what engender creativity and have driven human creativity and evolution for millennia and the fact that copyright laws and intellectual property laws are chopping down the end of the landscape for ideas just like there are clear cutting forests where this monkey

poor monkeys living their clear cutting ideas using copyright law from ugly monopolists and moguls like the root the former head of news corps rupert murdoch now this agency caters news agency isn't claiming to own the copyright that idea has infected their mind that we can shut down ideas and we can keep people from communicating ideas they're trying to keep tech dirt from communicating ideas but let's look at where so far an idea has not been copyrighted and it's allowed to spread and that's from tahrir square hash tag occupy wall street a shift in revolutionary tactic so this is from adbusters in on september seventeenth two thousand and eleven there encouraging at least twenty thousand people to show up on wall street occupy wall street and don't leave just like the the people in tahrir square didn't leave until their demand that mubarak step down with matt the americans are saying don't leave until obama forms

a presidential commission to investigate whether or not there spend financial fraud right what we've been talking about the global insurrection against banker occupation for months and months on this show and we've been trying to encourage as much of this pushback against banker occupation whether it's in cairo or tunis or madison wisconsin now. it's coming to new york and they're starting to embrace the side of a tent city in the public to push back against banks but as you're pointing out there their demands are quite vague and obtuse on thing exactly but they're also focusing just on the tactic terror square was not about these people meeting and demanding that mubarak leave it was more than that was the idea that they no longer needed to live in fear of mubarak's secret police of which were five hundred thousand torturers it was the idea of the fear they got over there's no sense here

that this is an idea you know martin luther king jr march with a million people in washington d.c. with a dream not with a demand that people know that congress me and determine whether or not there was racism in society it was a bigger idea where they had overcome their. acceptance that they were second class citizens now you don't see anything like this here well first of all they have to recognize that there's a war going on that the war of banks turns against the people so they need to stop the war they need a new stop the war campaign and number two they need to target the right institution the institution the target in new york city would be the new york federal reserve bank and they should seek and also they need objective the objective would be regime change so occupy tent city in front of the new york federal reserve bank into all the current administration leaves. you get somebody in there who's not let's say like a guy remember tim geithner put was an eight billion dollars of new york fed cast

american dollars onto a plane airlifted to iraq and it promptly disappear oh and by the way eric king of where erik prince of blackwater just happens to be now living the the big life there in the middle east i wonder where that money went well you're more likely to get the same exact sort of paradigm that played out in tahrir square which is remember what mubarak said at first first he met the people in a televised address saying oh i'll make a few little changes that was basically i'll have a commission to investigate whether or not there's been any fraud or corruption or torture and then he said there will be chaos if i step down this is the classic technique that the new york fed the u.s. fed the banks for occupiers always claim there will be chaos if we leave the scene so they tried if they did in two thousand and eight famously with hank paulson in front of congress and they've done it every few months since the debt ceiling is

another example in the middle of one right now you know there'll be chaos still be caseloads to give us more of your money and let us run roughshod over the political system and steal everything that's going to be chaos well let's look at how an idea can actually genuinely create revolution where you can change the system and not return to business as usual five hundred dollars. silver if you want it now many look at that and they think oh it's about the price it's about making money off of silver making fee out currency dollars issued by the new york fed and it's more than that it's a revolutionary idea because many people instinctively also say why would max want five hundred dollar silver does he know what the world would look like in five hundred dollars silver world you know there's a number of really good points there in other words first of all the five hundred dollars silver can be obtained if people want it because the silver market is so tiny that if millions of people around the world that are getting victimized by banks for corruption they simply bought one or two ounces of silver there's very

little of it around the price would go to five hundred dollars your silver would be worth a lot more but more importantly the banks or it would be put out of business that's the point number one point number two what would a world of five hundred dollars over mean it would mean that the peasants in america and around the world were being disenfranchised and haven't seen wage growth in decades and are being treated like by a bomb a would suddenly a lot of money in which to restart the country and seek regime change and start a new republic you know that in france they're on their fifth republic america they need to get on to their second republic they need to rewrite the constitution iron out some of the flaws and loopholes return to some of the ideas that were there originally go back to gold and silver as it says in the constitution yet but the other important ingredient to the sea of other important idea to this five hundred dollars silver is crash j.p. morgan by silver by silver crash j.p. morgan j.p.

morgan is the single most powerful element of the u.s. federal reserve system it is the new york fed and jim rogers has pointed this out several times indirectly over the last few weeks he is asked over and over are you shorting french banks are you shorting german banks are you shorting banks. he says no there is one bank alone one major bank i am shorting while pilot buying silver by the way i'm shorting one bank and the reason he's shorting out bank is it alone of all of the major banks in the world is still at its all time high that tells you where the power is who still standing well j.p. morgan they just reported their quarterly mon burgers they came in with their earnings i think they were add or a little above expectations were way above expectation because all of their liabilities sit on the balance sheet of the federal reserve bank in washington j.p. morgan doesn't any of its own liabilities it runs up liabilities and then it gives

them to the people of america the citizens to deal with they keep the profits the said owns the liabilities oh does this sound like enron with their special purpose entities account seven hundred of them they just part of their liabilities off the radar of any regulators and they claim oh earnings are going up every quarter yes it is is j.p. morgan the new enron yes it is will lose one hundred fifty six billion in capitalization yes it will is that a good thing of course it is you don't want financial terrorists in the system terrorism is bad so again this idea of harir square how the arab spring has spread around the world and in each place it spreads and this is the thing about free culture and free copyright is ideas are allowed to germinate and take their own form wherever it goes televisa of tent city erected in protest against high house prices so israelis are taking to the streets they're setting up tent cities and they don't want to back down until height house prices decrease now of course

netanyahu came out with the old paradigm and essentially it's all about war and land grabs because he's saying health the problem is not about inflation it's not about money printing white house prices are so high or around the world it's about the fact that there are too many regulations against building houses which is not something you really think of when you think of a. well you know my reading of the old testament is that you become what you fear so here you have netanyahu who is running a ghetto in palestine while simultaneously open the doors for ghettos to appear inside tell of even inside israel it's the supreme form of hubris well aside from religion this is the very basic fact is this is an idea that you do not need to be fearful you do not need to fear your government you are your government and we are the people and these people in israel but despite all that religious do that goes on and the you know religious hatred that the warmongers try to spread these people

are saying they are inspired by what happened in tahrir that you can't we can take back control ideas are the ultimate weapon of choice for revolutionaries and i guess what you're saying here on the take away from the states here is a five hundred dollars so if you want to be whether it's mubarak or murdoch if you take away the facade of their power which is based on fear then the people win and the dictator goes away exactly max well thank you so much stacey herbert for being on the kaiser report thank you and thank you don't go away much more coming your way right there.

you deleted. from. the future and. welcome back to the cause report i'm max kaiser time now to go to london and speak with sandeep jaitley an expert on the austrian school of economics and a fund manager at first international group sandeep welcome back to the kaiser report. all right sandeep jaitley when we had you on the show a few months ago you described the austrian school of economics as being based on karl mangos idea that quote value does not exist outside of human consciousness

so elaborate on this a little bit with some examples that we see around us today a lot of people think that this means that somehow austrian economics isn't grounded in grounded in reality you know if you say a statement like value doesn't exist outside of your own consciousness it implies that you're sort of making up everything in your mind well this is a this is a calming actually meant what he meant was that sort of the utility is up to you and it's subjective you know. that's what he meant by by that statement. every human being is put on plan is their restrictions or their surroundings. so obviously it was meant in that context ok now when mangere was putting forth his ideas he was breaking from a dominant school at the time i guess you could call the neo classical school so

how does the out how did he break from the school so what were the main tenants that said this is in fact a new school and how does it how does it achieve that break you must remember that they were they were near consequence at the time i think they were sort of the forefront economics at the time. consequently in classical models just to see you know that there is something inherent about the object itself rall the version rather than the sort of the quality is being ascribed to it by the human in question and the collection of humans in question no. you either get about as a principle sort of or you don't you know let me come in for a second some other words the organizing principle around which economics is a base you can take two approaches one is to believe that objects have an inherent value and that you're going to construct an economy around that inherent value or b. you're going to construct a school of economics that says that all value is subjective and that you're going

to organize your principles around the rather subjective qualities of the perception of these objects and so therefore of course economics is known for having a hard rules and based somewhat in mathematics as you were just referring to so the rules of the subjectivity can can subjectivity be critic and that can be codified now i know at. carmaker's day you also have the emergence of freud who tried to codified the unconscious of the subconscious are these two things related in any way first of all yeah well you can codify it mags i mean i i wouldn't want to deny that math is very useful in economics you know but the way that math is used in neoclassical economics it would be like using you know vedic sanskrit to translate train timetables you know i mean people are more impressed

with the math in neoclassical economics than the actual underlying thing of what it's saying you can code a far a subject of economics but you have to realise the limitations of the math that you can use you know so for example very simply you can't use. continuous methods in mathematics you know the thought process in economics is discrete you know there's only an ordinal nature to the way you can describe things you know there is one use for water and then there is another use there isn't one and a half uses in between so that automatically restricts the kind of mounts that you can use. but it's still math that can be used nevertheless so in many years economics you could you'd be using things more like discrete mathematics topology set theory that kind of thing rather than sort of statistical

mathematics which assumes the sort of interaction is in a certain linear way you know which it is and let me ask about the year nine hundred seventy one and that year of course next and close the gold went out and the world embarked on an experiment of getting completely away from any relation to a gold standard and one embarked on a path of money currencies that were all trading against each other in a way that you could describe as purely subjective there we are. forty years later and that experiment has clearly felt and people are once again talking about going back to the gold standard presumably because with gold there is some relation to an agreed upon intrinsic value added we get all the way back to out of the subject of all the five currencies i would have thought that could have worked if everything is subjective why is it failed why are we back to gold is gold

a proper live under the austrian school gold is favored as a measure of currency yes yes that is true no it's very true you know i mean what is important sort of with the gold standard is that. you know gold as well doesn't have any intrinsic value per se. so what you have to do is you have to look at how have people organized this substance throughout the millennia you know . they've known this substance and they've accumulated so much go relative to how much is produced annually the people still want it for some reason now normally if you produce a substance you don't keep on producing it well in excess of the sort of the use that it can come on you know you don't go around building up huge stockpiles of copper you know copper is only produced on a on an as needed basis but gold is different for some reason observing it from

outer space human beings like gold you know they've accumulated so much of it that you know there's one hundred years plus worth of production just sitting around the ready yet still they want more of it you know so it's like it's almost being did based in the mind the human mind psychologically you know there is so much of it you know yet still they want you know are not there to question why that is that something the. humanity has decided obviously on the poles of humanity as well. i'm not going to go against it you know so that's the only way you can look at it all right it's a sunday paper this of course is on everyone's mind because recently in congress ron paul. rand bernanke if people leave gold is money bernanke you responded no gold is not money so this opens up obviously a lot of different points you what are your thoughts on that at this point dr bernanke is just plain wrong you know the people decide to go in and silver with

money many many thousands of years ago and no government can use. viewpoints ok let me go in for a second because in other words you're saying that the collective consciousness or the collective unconsciousness can dictate the perception to the degree of validating what the subjective reality to be becoming the object of reality and ben bernanke he has created a charade for many decades convincing people that fear out money is real and that fear money needs trust and he's in a wall or unable to understand that if the market that is the say the people decide that now gold is money and fee our paper is worthless but that's going to be the new reality so is see how is he constructed is he constricted philosophically is he constructed to lecture really is he constricted politically what is ben bernanke

these problems. are imagine that there's a lot of them and of sort of politics involved in this and you know i mean. if you look at the way for example the bank of england was founded you know. they they had to come up with an arrangement to lend money to the government in order to do the bread and butter business of discounting bills of exchange you know. so the notes that the bank of england created was sort of halt capitalized boy good bills of trade and they were paul's company laws the boy government that. now. sort of fast forward three hundred years you can go around and say the. only gold is money or or something else. something else apart from what you're using for money is money you know because you're sort of going against that principle which

is a wrong principle you know no one should stop it's their business to get into cahoots with the government in order to do something else but you have to look at it from that perspective ok what about greece portugal ireland what are they doing these crises well sort of i think that everybody is starting to realize that there might be a problem in the euro. this is true but there is no sort of recognition about what the what the what the solution or the form of the solutions will be so you have to look back in history and see what kind of monetary shenanigans going on in europe sort of over the centuries and effectively it comes down to disenfranchising the creditor you know. every form of monetary dean basement where you sort of reduce the amount of precious metal in the corner or you increase the amount of units that a piece of metal will get to you it's a form of disenfranchisement of the creditor so i imagine something along similar

lines will be pursued in europe you know you you haven't how to monetize ations scheme in a similar vein to the british and the the americans so what's likely to happen is you're probably going to have a secondary euro zone fund created which will have three trillion euros worth of unfunded capacity to start buying up debt on the open market. you'll probably extinguish all of these issues to do with the quiddity insolvency at the same time. then you know you will achieve two things you. will reduce the purchasing power of the euro dramatically which i think a lot of a lot of countries in the euro zone ones. and you will eliminate two forms of question most of solvency. when it comes time to roll old bones and new bones you know you can come up with some kind of levy for this phone for all

countries the sort of have the bones purchased boyett. let me cut in there some other words europe by bringing in let's say a euro bond which covers all european countries we don't really have that now gives the o.p.'s central bank the ability to monetize as you say or quantitative easing as we know that for a term in the u.k. or the u.s. and to destroy purchasing power by creating morphia of money and i guess this is a goal of the first telling us is that nobody or any of these countries is wanting to impose any kind of strict regulations that would keep the up terrorist bankers at bay they simply want to throw them the keys to the castle and let them print as much money as they possibly can finally on the u.s. dollar is funny because it seems that you've got a very interesting arbitrage here because the ninety five percent of the world's population that are not american seem to understand that the dollar is on its last legs and about to collapse but that bubble inside america that five percent of the

world's population seems like completely impervious to this yes they are and you know the financial media generally is quite america centric if you think the dollar is going to be bad you ain't seen nothing till you see what you are going to do you know. that's where i sort of that's my my view on the it's going to take a look at that again so that's where we have a slight difference of opinion because of course within there's something called germany which you don't have anything like that in the in the dollar all right well sandeep jaitley thanks so much for being again on the kaiser report thanks max all right 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 sandy jaitley if you want to send me an e-mail please do so at kaiser report r t t v dot ru until next time this is not bio.

so i cannot see saving greasy leaders agree a fresh bailout for the debt stricken country at a crunch summit in brussels but they failed to dispel fears the global economic woes of worsening latest on this law even also the troubles don't mean time to turn aspiring states from wanting to join a set of you proposed to extradite war crime fugitive cabbage to the hague in its latest attempt to become a member of the blog. and investigations into the u. case phone hacking scandal intensify with even more political figures coming scrutiny and public betting on who the case might bring down next.

it's midnight here in moscow welcome you watching out with me kevin now in this hour and first european banks will contribute over one hundred billion euros over three decades to bailout the greek economy it comes after the merge and see summit of e.u. leaders in brussels have agreed a second rescue plan they claim it's a more beneficial deal for greece than the first financial salvage operation but the threat remains nonetheless that the country may still partially default let's get the latest thoughts of economic journalist patrick young with the young thank you for being on r.t. so then we've got a second bailout with it appears even softer conditions on greece but is it actually going to lead the country out of its massive debts or just prolong the agony well. kevin i think it's going to prolong the agony of unfortunately like everything we've been looking for for weeks we wanted leadership from the european union and i think really the european union's own sort of press conference just demonstrates what a shambles this whole proceedings is i mean we have to sit through umpteen

different leaders all telling us who is actually in charge and what's going on they give certain parts of the information seems to be contradictory ultimately a lot more money has been thrown at the greek economy in the hope that that can stop the contagion but really a lot of it just looks like hype and i'm very very concerned that we haven't actually find a cure we've just got another sticking plaster here we'll talk about that in a moment but on the face of it european banks the one contributing to the plan some would question the why the the private sector needs to be involved at all is not just putting more people at risk or was it in fact a case of you know all hands to the pump so dire was the emergency here well i think the situation that happened is behind closed doors obviously a lot of banks have been told that it would be in their best interest so they themselves got bailed out quite recently because of their own foibles economically in two thousand and eight and so on but at the same time you know what really the european union are trying to do here is they're trying to staunch the blood that's flowing the the money.