revolting videos for your media drug free media gondar t.v. dot com. for whom the bell tolls wall street is calling for it big banks they want it but would q e three just appease those who caused the most economic damage. to students. to see this country and to see what this country knows what the city's interest either now hershey give me a break what's with the better well that seems to be causing a mound of problems so i was born exchange student stage another protest against the chocolate factory will they ever get to know the sweet taste of victory and our good life in america. the sounds of war

but should we be hearing them at all in iraq the u.s. and its combat mission there a year ago so why then have more than fifty soldiers died since and how can you with a void being stuck between a rock and a hard place again and figure out why why are we already are we doing it again you know why are we why are we doing this you know and as it was this person's life worthless can you imagine collecting catalog bagging and boxing the bodies of fallen soldiers and that was that marines call of duty for her chilling story on the real cost of u.s. wars. well good evening it's wednesday august thirty first it's eight pm here in washington d.c. i'm laurin lester you're watching r.t. with an increased number of economists saying the u.s. is headed. back into recession consumer confidence plunging to the lowest level in

more than two years remember this drives about two thirds of the economy and with new jobs numbers coming out friday that are expected to disappoint naturally the president is out talking jobs and investment today he was pushing to extend some bills set to expire next month for this reason he said that's what we're going to need to do in the short term. keep people on the job keep vital projects moving forward on projects that are already underway in a smarter way. of course if we're honest we also know that when it comes to our nation's infrastructure our roads are real ways mass transit airports we shouldn't just be playin trip or catch up we should be leading the world so he was talking about a transportation bill as as one of the issues there and you can give a speech but in reality obama and congress i have failed as far as their policies to budge two years of around nine percent unemployment if you think it their

response ability to do something about that but likely the bigger deal next month what we could see what we're hearing a lot more about is that the fed may be the one to act again in september with another round of quantitative easing the federal reserve bank of atlanta said the fed should consider it on wall street they appear to be clamoring for it j.p. morgan is calling for it saying they think it's coming in september goldman sachs thinks it's coming but will reserve minute show they came close to it in august but just to with this help we know that quantitative easing has helped wall street because it boosts the equity market and creates a demand for treasuries which are already on banks' books and it certainly help the federal government because it's allowed them to borrow at an extremely low price because it pushes down the yields or the interest that the government pays on treasuries but what would this do for everyone else for the millions of jobless

americans who are either too afraid or to grope to spend who are underwater on their mortgages or first small businesses which ben bernanke he says still can't get loans to get to the bottom of this i asked peter chip he's president of euro pacific capital and i said if washington continues to struggle to find solutions for the country's economic problems i asked him ok we know quantitative easing has helped washington we know it's helped wall street but how is it helped everyone else as far as just average folks who are broke and jobless. well it hasn't i mean the reason that we're headed back into recession is because of the q.e. two you know money printing is not the solution to our problems it's the source of our problems you know i was on record before any of these wall street economists in saying that q.e. three was a certainty i knew it was coming because i knew the q.e. two didn't work and i knew that rather than learning from its mistakes the fed

wouldn't repeat the so then i don't want another round of q.e. help he said we're hearing all three banks call for it. well you know if you mentioned it earlier it helps the government get bigger it helps the government borrowing and spending but that doesn't help the economy the government is too big and spending too much in fact that the fed is making it easier for the government to go deeper into debt is counterproductive if they had a fiery through three that my worse the responsibility on our leaders so certainly the government will gain at the comedy expense wall street will gain cheap money will continue to flow so the wall street bonuses will continue to come but real credit continue to be scarce on main street they're not going to have any real capital investment and so we have real credit coming savings we actually need higher interest rates that's part of the solution but unfortunately just but doesn't want that to be and ben bernanke actually thinks huey to work but it didn't work in let's you know maybe i hire with addict thinks that shooting up

a system or our own works and that it delays that we are all abut spending borrowed money feels good but it doesn't produce konami wrote that actually those big ourselves in would be perfect or as them bernanke you think that maybe it's helping for this helping wall street i just want to point out this one example of how this benefits wall street the side that we talked about makes i'm clear on that if i'm goldman sachs and i know that the government is going to do more q. we can go out and buy at treasuries and then sell them back to the federal reserve and make money on the deal. well wall street certainly some of the banks that are trading in the treasury markets are flipping them buying them and selling into the treasury but wall street makes a lot more money based on the fact that interest rates are being held artificially low it helps to finance all their leverage transactions we're talking about highly leveraged entities on wall street but you know what's good for wall street is not good for america you know part of the solution to america's problems is

a contraction on wall street we have too large percentage of our g.n.p. in finance that has to shrink that sector sector has to contract but the government piece propagate up with cheap money but in order to prop up finance the government has to drain the money from other big areas of the economy were badly needed we need to produce art that we didn't make or stuff and we're not going to do that if all the credit that finance business is financed is speculation instead and that's the best really wanted wall street banks to lend why would they be incentivizing that not to lend by paying an interest on reserves. well you know what we really need remember is there has to be savings to be loaned out you know you have to look at it from the perspective of the saver no one is going to say when interest rates are practically zero so there is no real credit all that happens is the federal reserve friends a bunch of money and what to do is that the banks take it and loan it to the

government just spend because the government is borrowing over what to have trillion dollars a year and what they don't loan to the government by buying treasuries they speculated oil or other commodities or the stock market but not it is speculative activity is leading to increased production to a growing us economy there is no real credit available for real business because nobody wants to take a risk and loan the business and they can loan risk free that the government will loan and also i just want to pull at this chart to show how the reserve that the fed of increasing he's seen banks i mean it's a blue line here but i don't know if you can see it flat and then it just goes straight up because banks are now keeping trillion or more dollars they're a thousand times more than what they were before the crisis. and what they're doing though is they're monetizing the deficits through the banks because that money is not just sitting there it's interest when they have done that if the government is

spending the money to run the government but do you think that it's possible that the reason we haven't seen the type of runaway hyper inflation they you've been talking about for years is because a lot of the extra money that the front is that is printed is sitting on bank balance sheets and not being lent out but i'm talking about hyperinflation happening eventually not right now and of course that's a worst case scenario i think what's really stopping hyperinflation is foreign central banks continuing to support the u.s. dollar but with countries like china like japan or saudi arabia russia all the countries that are already in dollars come to the realization that this is a waste of money that they are undermining your own economies they're there in hoarding ards lesion by buying their currencies the dollar once the dollar really loses that reserve currency status and foreign central banks no longer supported that's what i have to hide or inflation will really take hold and less of course

the government the federal reserve does a complete about face dramatically increases interest rates and allows the economy to restructure including the u.s. government to restructure its debt because of interest rates rise with market level there's no way the u.s. darby it pay the interest level the principal on the amount that it's borrowed to take away from everything else and money on right now but i'm wondering if you think that we're getting to that point maybe with china if you see this is a sign china has announced that they're getting a break on income tax to most of the people in the population aside from just the very rich ones sixty million more pay it all they're doing it to try to boost spending do you think that i know china i i think behind the scenes they understand the problem is they're still reluctant to admit it is hard to admit that you've made a mistake in order for china to do the right. they now they have acknowledged that for years they've they've done the wrong thing i so i guess it's difficult to do but ultimately they're going to have to do it because the cost of continuing to

repeat these mistakes is enormous and you know obviously the chinese are trying to buy more gold at the resupply their reserves into other currencies but they continue to accumulate dollars in treasuries and they continue to create inflation of their own country and looking for other ways to deal with the symptoms rather than getting down to the root of the disease do you think though that if they formulate spending in their own country will that mean anything for average middle class people in the united states well sure if the chinese allow the r.n.b. their currency to go up in value then chinese people will automatically buy barça because stuff will be cheaper for them and as the price of things comes down more people will buy and so if the chinese buy more of what they produce then they're going to have a lot less left over to export to us so americans are going to see much higher prices for the things we buy because the chinese are buying them instead and we'll just have to buy what's left over and of course if there's a smaller supply there's going to be higher prices and that is what america has its

future much much higher prices and do supply of consumer goods and china in its future as laura prices and or under consumer goods it all depends on when the government throws the switch. so that's what u.s. consumers may have to look forward to according to peter schiff president of euro pacific capital so we talked about a number of issues facing the economy and of course the big one jobs where have they all gone we hear the president of the united states and the head of the russian federal reserve talk about how we need to get them back in the u.s. talk about the threat of long term unemployment to this country's economy but we want to looking for where these jobs have gone and look at what we found look at what corporations are doing to avoid hiring americans these people protesting behind me they're protesting the practices of hershey's as in the chocolate maker they're accused of using captive labor at their packing plant this summer they're

accused of luring students from countries like china turkey romania to come to the united states for a cultural exchange program and then putting them to work in their factories instead at the same time activists say this ties into the bigger issues of robbing local workers of living wage jobs in america well the students aren't standing for it as you can see they're protesting they protested in new york city today in times square and earlier i spoke to an organizer saket soni he's director of the national guest worker alliance and i asked them about how this happened these students are coming for cultural exchange they pay six thousand dollars to do so so how do they end up doing what they call captive labor in a hershey plant. this is really a story about how far a company is willing to go to cut costs maximize profits and ultimately deny

good permanent jobs local workers these students are from all over the world as far away as ukraine mongolia china turkey all over the world they are college students with three point five g.p.a. is and they were recruited to participate in the state department's j. one visa program they expected a cultural exchange they came here to meet americans travel and build long lasting relationships with people in this country instead they got perhaps a real cultural exchange they got a sense of corporate culture they found themselves working in a hershey's chocolate packing plant but how did they get into this situation is it is hershey's exploiting this program is the federal government lacking in oversight well there's a couple of things going on the federal government the state department in

particular is asleep at the wheel it started this program in one thousand nine hundred sixty one as a cultural exchange program it has now become the united states's largest guest worker program and companies like hershey are benefiting from it they're using it to import cheap labor and be able to work that labor force to exhaustion and to the limits of human in durance because if workers don't do what they're told they're threatened with deportation so how do we fix that. well the way we fix this is the way that these students and their central pennsylvania and friends are trying to pick six of. the students who lead a factory sit in and they demanded two things firstly that they be given the three to six thousand dollars back that they paid but secondly and more importantly the local pennsylvania residents get these jobs outside of the factory on the day of

the strike local unemployed pennsylvania workers labor leaders. people from the community participated in civil disobedience on behalf of the students the appeal was that a corporate actor like hershey which alex itself as a good bread as a responsible brand should act from its moral center and respond to the jobs crisis i want to get his conversation going for just one minute because i hear what you're saying and that's very optimistic my question is i know that sixty thousand some people and merrick ends has signed a petition agreeing with the skin workers and four. agencies are investigating but say that ok hershey's has to end the program and so there's a victory there what if you keep them from for example sending jobs overseas to cut costs is there a bigger solution needs to be had here is my question. there's absolutely

a bigger solution and a bigger picture the bigger picture is that hershey is a company that prides itself on you know. having a good corporate image and it needs to put its money where its mouth has been for the last few years i think the bigger picture is that corporations like hershey need to be engaged and challenged by ordinary citizens through organizations through the labor movement through others to really deliver good jobs to ordinary americans it's absolutely imperative that you know we demand the first she lead the way in terms of providing these jobs we don't want these students replaced with other cheap temp workers we don't want these judith's to be replaced by minimum wage jobs for central pennsylvania nse that then have to hold on to other

jobs just to get food on the table. so we don't know how that's going to happen but they're certainly fighting for a socket so any director of the national guest worker alliance and while companies are clearly cutting costs the government is wasting money on war spending a report today shows the u.s. as we stood sixty billion dollars on waste and fraud alone in iraq and afghanistan but over the past decade but wait remember the u.s. combat mission is to close to be over in iraq in fact is the first anniversary today of ending that combat mission so just what has this meant well for one these people that lister's staying right there those are american troops that have died more than fifty of them since the combat mission in iraq ended a year ago close to forty five hundred to remind you have died since the war began and close to fifteen hundred iraqi civilians have been killed during the time since

the combat mission ended that's on top of the roughly one hundred thousand iraqis who have died since the war began and remember there are still forty six thousand u.s. troops in iraq and both sides are still talking about whether u.s. troops will stay after the drop dead and a deadline at the end of the or so what lesson should we be taking from iraq especially as the conflict in libya continues and as more analysts are saying it reminds them of iraq back in two thousand and three well earlier i asked blogger and political activist for some answers i asked him why the u.s. is still in iraq a year after it's supposed to withdraw he was just there a month ago here's his take. i think the end of the combat mission did not mean anything for. this war. and left us all just talk until the last space. was to the iraqi side so last

year there wasn't much attention given. to the line because it was very widely viewed as a good line don't care what the u.s. government calls us. military occupation because of their military occupation or with a record of training or whether they call it anything. this is a foreign military occupation. and that's why i don't think last year that line was significant from my point of view but this year's deadline is very significant because this december thirty first is supposed to be the day that all of the u.s. troops i want to get out but i just wanted are you saying that this ended the combat mission means nothing for rocky's and then therefore the united states is just rhetoric. i think it was moderate left. by president

obama during. the campaign. last year was not any of the agreements between the two countries believe it or not iraq is government did not about the when it happened because it wasn't included in the bilateral security agreement so it was just i think for. here for domestic consumption in the u.s. the president said sixteen months. but that is a positive step in the right direction which is that if the escalation but i think it's incomplete if the president does not. fulfill his promises. of all the troops and all that we've heard both sides are still negotiating over whether u.s. troops will stay the u.s. is certainly offering them you said that this is a big deal this deadline for the rockies what they want you were just there you're a rock yourself yeah i think there are two u.s.

forces in the last few months. of the white house and president obama has been very consistent in. complete withdrawal of the the same time the voices of the national security establishment the pentagon and other u.s. security establishment organizations they have been attempting to. cancel it because of their calculations their geopolitical conditions are different than those of the u.s. and iraqi people and those of the white house so i think there is an internal conflict inside the u.s. government that results from iraq i think the public are demanding. all but one majority of the public demanding that this occupation and by the end of the year because iraq is believed as long as the u.s.

is in iraq. to be unstable and violent if the u.s. did entirely pull out and the instability actually increases our rock is going to accept that course it's their country to be the truth this entire argument that the u.s. is there to protect us from themselves to protect us from other intervention is left of the iraqis don't buy this he will not blame us americans and they will not blame the united states if something bad happens in this country without a u.s. occupation of course it would be the consequences of the occupation but it's. i think you have it when and sitting on the controversy you know the i realize it's going to take a long time maybe decades to destabilize it's the first step is a complete so therefore we're going along with what you're saying if bad things

happened while the us is there do they blame the us before and there will continue to be in the us this is not just this is reality we're talking about twenty years of u.s. intervention the war with iraq started in ninety one. and it's been more than twenty years and the last you're going it ever ended the americans might think that that sounds crazy but in your perspective it never ends i hope it will end this year i think that i think to do i hope that president obama will leave the need for all of the he must be thinking and actually the war on time looking at libya because many of the analysts have come on the show and many that we read i have compared libya now to iraq in two thousand and three you're saying that iraq is the blame the u.s. for everything as long as there is this a lesson the united states should have in mind as it takes years out what it's going what's going to do with libya yes of course i think there are some

differences. or what happened in iraq is how foreign military intervention looks like it's not a foreign military intervention when truong. u.s. intervention look like because. domestic problems because more quiet and they destroy the country's. government legitimacy i think that's a pretty democracy. i don't i don't think even those who used to say this thousand and say it any more and i think people unfortunately would see the same symptoms. the same problems of lack of legitimacy for the government. it is seen as a puppet government from the problems with. the bins. and. it provides people the services so that all the many. you know examples i think between the two cases and certainly something to consider that had been

a year anniversary since the combat mission quote unquote ended which you said i never did and as libya continues thank you so much for being here that was gloucester and political activist joe r. and behind those numbers and statistics of the war that we just talked about is a tragic reality that most americans are kept from hearing or seeing it's a reality that only certain soldiers are ever required to face and archie's marina port shows you what it is. you think you would be very much into the infinite world of literature enters his twenty eight year old ex marine an american who abandoned her weapon four written words to tell a story she says is kept censored from u.s. citizens female people may know that it affects us i don't think that they understand the weight. and the toll that it takes on us and seeing the effects of war. the literal facts and the dead bodies the remains i couldn't figure out

why why are we ordinary doing again you know why are we why are we doing this you know and it was this person's life or things jessica could bell's memoir shade it black details a traumatic and human account of war in two thousand and four good old spent eight months in iraq collecting cataloging bagging and boxing the bodies of dead marines at the mortuary affairs unit and experience no u.s. president who's declared war has ever endured if it was a result of or an explosion there could be several cases sometimes that would require us to you know crawl under a truck or crawl into trucks or just as you mentioned. you know you want to. watch this if you can get back to the feeling i could tell pieced fallen soldiers

back together after receiving body that filled with limbs on one occasion a bag she process was carrying only the heads of her comrades we didn't know what we were seeing when we had opened up the bag we didn't know what was in the bag. when we had. that particular body bag so one way to unzip it you know as soon as you pull back the flap and you see this head serially not look away i mean it's difficult to look at but you have to look at that because you have to you know put them in their respective body bags or send them to the. but the family nearly four thousand five hundred u.s. soldiers have returned from iraq in caskets more than fifteen hundred flown in from america's other war in afghanistan that was a marine and i will tell you that there for the millions who do make it home alive many like you tell our twelve men to my memories post-traumatic stress disorder depression and substance abuse i couldn't leave my apartment you know i didn't have friends and talk to anybody. and

a lot of it you can't deal with. you don't deal with and i suffer from flashbacks and nightmares and i i couldn't process that i had a really hard to kind of make sense of it more than six years later the d.l. says she's still searching for reasons to justify the damage and death caused by the u.s. war in iraq as a marine she did what she was told as a civilian she questions why you must leaders glorify soldiers as heroes but neglect to speak about the consequences of their service i don't know that the government respects the trends because if there is the fact that i don't think that they would send us to these places. to carry out what they're asking of us so i don't think that they're expecting there from the get go. declaring war is the prerogative of politics.