if you can terminate zone around chernobyl itself over the past decades tourists have been flocking here more than ten thousand of them each year that's why forbes magazine named the dead zone one of the world's most exotic tourist destinations. alexander a former resident of the ghost town of prepared has been organizing these tours for several years he told us that visitors are always fascinated by what they see although all their motivations for making the trip have always varied. so you can you he will have different reasons but the symbol to see what an apocalypse could look like. someone to feel the history. which was so much their childhood like the atmosphere of the soviet union has been preserved but for me it's more important not why they come here which was effect it has on them. but since june that this radioactive tourism has been suspended the prosecutor

general's office conducted checks and ruled that the emergencies ministry had broken the law with these trips as well as making an unhealthy profit every tourist to the zone has been playing around a hundred us dollars to do so equating to a multi-million dollar revenue every year. we urge the ministry to inform the government of every dollar earned by these trips we know that a lot of money is in me but we have no idea in whose pockets it ended up why not with the money into the budget and use it to solve the problems of. the ministry is defined it says it's stuck by the law it claims these troops are a vital way of educating the world on how to avoid such disasters which are not balls on will never again be inhabited experts say it could still serve other purposes. due to decontamination procedures almost half of their air has acceptable levels of radiation that's why we can use this large spaces to build solar and wind

power stations and even grow be a fuel there the emergencies ministry has now filed a lawsuit in a bid to resume tours to the contaminated zone and the court is expected to start hearings in mid september ukraine's thirty kilometer nuclear wasteland will remain closed to the public until then with the debate remains very much open. ski r.t. reporting from kiev and chicken noble in ukraine. develop. story in afghanistan now where at least six people have been killed and twenty wounded in the ongoing tower an attack in the government district that's according to reports coming out of the capital here as embassy and nato headquarters in kabul have come under heavy fire at several of the city's sites in the city rather were also attacked with insurgents in an occupied an empty high rise building which they're firing guns and rocket propelled grenades afghan and nato forces have surrounded

the seed and several insurgents are reported killed. models to find this comes just weeks after twelve people died in an attack on the british counsel's office in the same district to stay with r.t. for more updates. and i'll have a wrap of the day's top stories in a few moments but first let's check in the business headlines with marina. hello and welcome to business here on art see the clouds of uncertainty continue to pile up in europe rising expectations of a greek default and the possible downgrade of french banks are causing the financial barometer to drop sharply russia is not immune of course with the ruble now trading at an eight month low but jacob knell for morgan stanley here russia believes there are reasons not to be so pessimistic. if you look at what's happening to reserves which is the kind of results of the entire sort of.

transactions between russia and the rest of the world every week we've been seeing an increase in institutional reserves and if you think of oil exports at these prices and what's happened if we took it i think you'll find that the courage to kill continues to be very strong in russia on the capitol hill it's a little bit less predictable but i think with the uncertainty relations to make it an increase in care for is there not to the level that you saw earlier this year so actually we expect the street from the game for going forward. but let's take a look at the markets now prices are higher following rebounds in the euro in stock markets the international energy agency cut its estimate for demand growth and some of its supply expectations in the u.s. markets are mixed this hour as volatility continues across the board the dow is losing important one percent while the nasdaq is gaining point five percent in

europe investors are concerned by the weakness of the global economy markets are now trading in positive territory with ranks among the top performers followed heavy losses in the previous session. and here russian markets bounce back from earlier losses an end of the trading session in the black vote the r t s m i six added point three percent so let's take a look at some index movers on the my sex most energy my peers were down despite strong crude bucking the trend that was in the world's nickel the company's board has approved the terms of a new share buyback it's ready to spend one point five billion dollars to buy a seven point seven percent stake for minority shareholders also russo also says it's ready to discuss the sale of its twenty five percent stake and if the prize is rights. and time now for an artsy business exclusive the c.e.o. of renault nissan carlos watson says his company will soon take a majority stake in after the us it currently owns twenty five percent of russia's

top carmaker and though she wants to buy more are progressing well. reasonably we should hopefully not be very far from a conclusion i would say it's a question of nothing i can tell you also that russia will become the largest market in europe first saw in consequence one of the largest producers we're seeing capacity russia being big everywhere through rehabilitation of existing capacity like i like to all still being new plants so i think the future of the car industry in russia will be very strong but practically all carbon for if you're already rather out there or your best thing in russia and the demand in russia is picking up through the development of the economies are very bullish on the russian. courts in central russia has declared the recent search of b.p. is not scoff a spy bailiff's was illegal the raid was done at the request of b.p.'s partners in the russian oil firm seeing k p p they're currently suing b.p.

for three billion dollars in compensation and they claim b.p. broke their shareholder agreements by its absence of form an alliance with frost left to explore the arctic the rate of these moscow office was intended for files relating since the lawsuits. that's all the business news for now the headlines are next with alice. wealthy british style. markets why not. find out what's really happening to the global economy with much stronger for

a no holds barred look at the global financial headlines comes a report on our. very warm welcome back it's hard. the libyan rebels attacked the three remaining strongholds of more moderate daffy under a shield of nato air strikes that was on the scenes enough for poor whites and this is why the colonel's loyalists the new opposition leadership to restore order asking. ukraine questions the legality of tools of a nuclear disaster aside from chernobyl that is allegations they were providing are health and profits to officials but experts say the contaminated land might be just the place you industrial. dry many attempts to calm fears over greece's

potential defaults by urging members of the year's end to stick together but stormy skies in the rain i think that stricken italy's house of the aria to help. our fragile carry max keiser explains why he thinks as a third world war going on in the financial markets. stars are facing her for a sweeping so let me explain something. alex shaffer before he was an unknown artist now his work is acclaimed and in demand all over the world this burned chose portrait twenty five thousand dollars on e bay there's no let up and demand for burning banks thank you max that's because he's exposing that confidence game happening around the world and that's one of our

big themes of the show today first headline reads goldman head gold trader speculates about authority intervention in gold sees precious metal pushing higher so this is zack. and he's the head gold trader from goldman sachs and he's referring to when the swiss intervened in their currency market in the swiss franc of course is a classic safe haven currency so he said the expectation would be of course that gold would rocket on that but in fact in the immediate aftermath was a complete contradiction to prior recent episodes of intervention and what anyone would have expected instead of spurring a further gold price rally on the basis that it was one of the few remaining safe haven currencies we saw fifty u.s. dollar collapse in minutes the source of this flow seems hard to pin down with some speculating over whether authorities were concerned about the signals of an accelerating gold price and its impact on other fragile markets soon after much of

the losses were recovered but the psychological damage had been done both gold and skyrocket against the swiss franc and also this is world war three it's gold versus paper it's authenticity like gold versus any of the city like the. american paper empire it's about a new century with new values and it's about a country like the us with only paper behind it crumbling yes but it's also part of that confidence game in order to maintain confidence in the u.s. dollar everything else must have no confidence people must lose all confidence and all other things including cold which has been a safe haven for five thousand years so america is trying with all its might to try to destroy the entire system as we've known it for five thousand years i want to say nothing by the us but paper people say oh they've got

a thousand tons of gold but keep in mind that you've got a bank on j.p. morgan they have sold short the equivalent of many many many times that eight thousand tons of gold and silver to support the dollar so when all the claims are made whole j.p. morgan goes the way of enron to zero the third goes out of business the u.s. goes into history and the other interesting thing here is that many gold analysts around the world claim that there is it's a conspiracy theory to think that the u.s. government or the c.m.e. or comments would intervene in the gold market but here is goldman sachs one of the biggest call traders in the world one of the biggest commodity traders in the world know these markets and they're saying they're suggesting that there is government intervention but goldman sachs is now agreeing with gold antitrust action committee data that org which for years was in the world owners people said oh it's a conspiracy theory now goldman sachs mainstream online some ottos down there on

wall street are saying yes in fact that is correct price of gold is manipulated by the paper whores and of course in every single war there psyops and that's exactly what this man and goldman sachs the first two is the psychological damage and i want to show you a quick headline in response to you earlier this week when gold fell fifty dollars in a matter of minutes joey's and paul said. yes how look at gold just did so that's the psychological impact they're looking for jellies and all is the propaganda minister over there business insider dot com he puts out propaganda no it's not you say oh look at that look at look at the frame. here wrong if he if he were putting out propaganda he would be working at the treasury or at j.p. morgan in fact he is the person who listens to baghdad bob and it's like oh my god reporting in the guardian and saying baghdad bob says the infidels are being slaughtered at the walls of baghdad well if joe is involved all the propaganda

meister over a business insider then his overlord. is enraged how come you don't come on the show you keep turning away my invitation center a. k. well let's look at some more wars going on khadafi regime sold one billion dollars of gold well these are the allegations of cassim azouz the new central bank governor who said could offer a regime raised more than one billion dollars to pay salaries from trading twenty nine tons of gold with local traders in april with the metal then possibly being taken out of the country for resale so they pay such slaves the soldiers and paper because they sold of gold right to raise well this is what cassim azouz the new central bank governor put in by sir cozy blair cameron and america so he's their guy in the central bank and he's saying it looks like could offer he sold twenty percent of our gold twenty nine tons now we're taking at his

word that it didn't just go missing because remember we zero hedge all others before the as the invasion was happening we said what's going to happen to libya's gold well it offers so a lot. but it would be a lesson for you out there are thinking of buying gold number one. number two he saw some of those gold for paper that he paid his soldiers and paper so those soldiers are complete idiots and they took paper instead of gold the whole history of gold as we learned from our show with david graber he said that gold always comes back into use as a currency because it's used to pay soldiers so america is trying to tell us a society that in fact in this case they don't want call the soldiers didn't want gold they wanted cash they wanted u.s. dollars. terrible but again you know the article mentions and point out this is from the financial times that could offer it was unique libya was unique in that there are some paint actually held their gold in their country unlike chavez they

point out so a lot of this is another theme we're talking about all the time is that many of these nations around the world including germany china and chavez were were holding their gold in america and whether or not they'll ever get that back roach of ours was two hundred tons of gold shipped back to venezuela one hundred songs of the bank of england undertones held by banks like j.p. morgan and if he actually delivered the call j.p. morgan once again stock price zero so let's stay with libya here tony blair's libya policy fueled power obsession of khadafi son again this theme of the confidence game. tony blair snake oil salesman went to tripoli brought in khadafi and his son to pretend that they were part we're giving you our confidence you're part of this game say follow islam you know as nato is dropping bombs on him who is he shouting at sar cosey not at blair he still is a victim of

a confidence game or he still believes the guy who sold him out is somehow stark cosy and not tony blair in a plot to blair if push comes to shove he should start selling those not choppers on late night t.v. you know the guy vince is a famous seller of chomsky's on late night t.v. if you have a retires to tony blair you gonna love my nuts watch this so easy one finger i can do one thing for you guys to do with your home the reason you can slap away every day is because it's so easy to clean so the confidence game sold to the west and to the people financing it and the taxpayers of the west who think they're getting something is they're told that coffee and say follow islam are uniquely crazy madman and dictators and killers and of course information is emerged that we were sending people there to be tortured over the past few months including up to few days before the regime we decided to topple them that's i mean that's kind of a new revelation as a because anybody in these other areas where us people get tortured with you know there's actually happening in libya as well. you know america likes outsource

everything all the workers all the work all the jobs and all the torture you know give those torture jobs to americans why outsource. their jobs inside america so good story to the westerners as always that we're protecting the rebels who are protecting the freedom fighters of libya and it has nothing to do with their oil we are pure people here so let's turn to this headline turkey to escort gaza aid ships amid route with israel well this is turkish prime minister erdogan and he was saying that his country is now going to escort gaza aid ships and that's the headline chosen here by the b.b.c. but. the rest of the story i think reveals the true nature of this religious war going on speaking to al-jazeera mr erdogan also said turkey had taken steps to prevent israel unilaterally exploiting natural resources in the eastern mediterranean it appears that israel has decided to recognize superior

rights to the natural gas reserves that are allegedly have been found in the eastern mediterranean and now there's it's a resource war all throughout the middle east really it's about their oil natural gas and water yeah it's also interesting that the i.m.f. . find a way in greece seemingly more contingent on greece shutting down the boats from leaving the port of athens to go to palestine so continuing on with this theme of confidence man especially those guys operating from j.p. morgan one man lobby diamond presses washington to ease bank rules this is serious that influential fifty and this article here is just amazing to read because it's a paragraph after paragraph after paragraph of quotes talking about how fantastic jamie di minutes and they come from people like hank paulson and they come from people like some lawyer dude from a wall street firm that represents wall street bankers and it says things like when

treasury secretary henry paulson needed someone to save bear stearns from collapse in march two thousand and eight he turned to diamond we've got done we've got diamond by the short and curlies he needs the entire regulatory infrastructure to change to allow his bank to go even deeper into debt to support his naked silver shorts we've got a silver prosecutors higher jamie diamond is panicking that stock is like enron right before it collapsed and mark my words hedge funds out there sure make a bundle well so continuing on this piece about how they're fluff piece on jamie diamond diamond emerged from the financial crisis a born again hero his bank took twenty five billion dollars in aid from the u.s. treasury out of patriotic duty not because it needed the money. push religion's to the flag of the bailout nation of america please send me

a billion and i'll salute your every morning thank you and i. and then it goes on they then compare him to j.p. morgan's companies namesake john perry point morgan diamond was heralded as a as the lender of last resort when other institutions faced a run on their assets that's a ridiculous comparison j.p. morgan the big guy he was his money yeah jamie diamond has all access to borrowed money he's a he's a he's a full saw that exactly well that he has access to the taxpayers' aaa rating to borrow at zero percent from the u.s. treasury and the federal reserve bank on behalf of the u.s. taxpayer so you mean double life plus double talk of a late class all right. thanks so much thank you max don't go away much more coming away stay right there.

mission. critical free. free. free free. free. choose three. free book deals for your media projects c.e.o. don carty dot com. welcome back to the cause report imax keyser time now to go to new york and talk with nick verbinski he's the director of the new. film called confidence game a documentary that examines the final week in the life of investment bank bear

stearns let's take a look at a clip as bear was shoving billions of dubious loans through its c.d.o. pipeline management works hard to cover up any problems along the way something vin lewin found out when it was discovered that the firm had illegally sold investors millions in securities holding loans originated in west virginia. sometimes the corners were cut according to west virginia code that has to be licensed by the state in order to service the loans secured by property and restoration. it was discovered that there stearns there had been by west virginia loans for several years now and were not allowed to service it without reporting the oversight to regulators there and forced a mafia style code of silence within its walls to quietly fix the problem ok that was confidence came directed naik verbinski nick welcome to the kaiser report hi thanks for having me max all right before we get into the substance to tell us

a little bit about bear stearns what sort of bank were they had they fit into the wall street made threats and when and how did they collapse just on a timeline well it's a good question of bear stearns was known for many years as the most grass bold profit powerhouse on wall street and they had a reputation that if they really reveled in which was that they did business with whomever and however they pleased. and for many years at work to their great advantage the profits kept piling up but what eventually happened was half of their fully half of their firms became sunk into the subprime mortgage business and once we saw a hiccup in that business in zero seven when the office headphones blew up it was about nine months later where the firm completely collapsed under its own weight a lot of people say it collapsed in the space of a week but when you really look at the story. of this firm with many years in the. making the firm collapse that had four hundred billion dollars in assets and only

twelve billion in tangible equity so really what the firm was doing was they were funding their daily operations of the overnight commercial paper market and what eventually happened was when that dried up they were refinancing their mortgage on their business just about every day and when that source of funding dried up the firm collapsed ok now the week that bear stearns collapsed i recall that the company was effectively being attacked by naked short sells these war far more shares being shorted then shares existed for the company in other words counterfeiting of shares salt says drag the price down of the stock you have more information on this and what role did see n.b.c. play and driving this vicious loop of cattle fitting lies on c n b c counterfeiting stocks. naked the healthy shares down to zero well there's certainly a lot of talk about naked short selling and how it affected bear but really first

of all we don't have any information on that at this point the f.c.c. launched a very wide ranging investigation when the firm first collapsed there were the street was rife with rumors about all sorts of conspiracy theories where headphones had colluded to bring the stock down and bring the company down but really what you started to see was more the naked short selling what you saw was an incredible expansion in critical thought swap spreads people were buying insurance on bear stearns' debt that they didn't actually own and once that happened the incredible demand for insurance on bear stearns that riden their credit default swaps and really dried up their sources of funding once the overnight wenders and everybody else started to see these things they all stepped back from the firm and said what you know we don't know how this ends but you know we want to get out of this before you know we're in tangled in it so it really i think that the credit the fault swap part of an equation is a much bigger story than maybe naked short selling although naked short selling i'm sure. had an impact. as for a c n b c goes especially with with regard to credit default swaps there was

a seminal interview between david faber and alan schwarz then the new newly minted c.e.o. of bear stearns on wednesday march twelfth and really you know the whole purpose of that interview was for schwartz to calm the fears growing around the firm and before he even had a chance to do that david faber threw a question to him based on a credit default position it was going to be closed out by an investor who later turned out to be com passed and apparently bass told faber that he couldn't close it out with goldman sachs and once faber it kind of mentioned that on the air everybody on the street started running for the doors immediately and there was really nothing that alan schwartz could have gone about that the really troubling thing about something like that is that that trade actually cleared the very next morning there was a point where c. and b. c. kind of stepped over the line from reporting the news to actually making the news and it really had a material effect on bear stearns right on a couple of interesting points there the big c.d.s.

market or the credit default swap market it was really going out by this particular situation the risks involved there when the counter parties involved in that market don't have the wherewithal to cover those bets famously when a.i.g. collapse everywhere they were they counterparty for many of the c.d.s. contracts and. the traders on wall street now this and write contracts knowing that they'll never have to make good on them because they can a party is bankrupt so that's part of the fraud that we see as far as naked short selling goes i know i can tell you personally having looked at the situation myself and knowing that having invented a lot of technologies that run these systems that there was massive naked short selling it's not a conspiracy theory it's an absolute stone cold fact and it's counterfeiting on a wide scale and it is pervasive on wall street and throughout the u.s. economy but let's not best turn c.e.o. jimmy cayne who was seen golfing while. bear stearns collapsed was it just because what was that all about izzy i did jimmy came out is very famous and lost

me for some of his peculiar habits but what was the story there well you know jimmy cayne was a long time c.e.o. of bear stearns you know and since the company had gone public in the early ninety's you know he had become really a legend on wall street he held over a billion dollars worth of the firm stock and by far he was the most heavily invested in his own company and he was really kind of the what brian burrow in the film calls the last of the wall street buccaneers you know he was really an old school guy and i think that's one of the issues that that kind of came back and bite the firm at the end was that jimmy wasn't really down and dirty with the business when. he offers hedge funds collapsed in the summer of zero seven he was reported to be you know in a page one article in the wall street journal on november first that year it was reported that he was actually playing in a bridge tournament and nashville tennessee just as the for and as these phones were collapsing.