iberia in soviet times illegally the longest in norway and nine hundred twenty agreement guarantees its signature is the right to conduct industrial activity on the archipelago an option fully utilized only by moscow that for decades has been mining coal here. culprit here has always been pretty expansive but back in soviet times it was not an issue of a konami's but rather politics plus the needed to maintain in smiling face here it is bergen at any cost but our production volumes have built just a fraction of what they used to be but one flaming russian presence here is still considered a matter of strategic avoiding. the subject matter it's die hard the mines equipment hasn't changed much in the last fifty years while the athlete composition of the workforce could makes a viewer feel solvent nostalgia. i'm twenty seven years old so i don't have clear memories of the soviet union but i do system that spirit is very well preserved

here we have people here from ukraine go through central asia and we all feel like citizens of one country ironically the attitude toward the mines perfectibility is also inherently soviet it's been a loss making venture for decades here increasing its efficiency is politically inconvenient. because coal mining is what allows russia to the president's speech program to be profitable we need to mind three times as much calls we do now but since the puzzles are finite we have to go slow. meanwhile russia has notably increased funding of scientific expeditions and spitzbergen and in africa to explore the archipelagos natural reaches. we could become a is a geologist who first arrived in barron's work in the early eighty's because of the soviet union and the trade geology for business but the recent afternoon state funding allowed him to come back in the bergen is a key to all the arctic geographically it's

a place where the global weather is being formed to logically drown for science and mining it's rich in oil gas and other minerals it's a place we simply can't afford to lose. and he's country seems to agree i think we got our key guerin's work speeds durgan archipelago and. that's where the news that headline surely that's going to. own very well welcome to the business program fears are growing that the debt crisis in europe may spill over and harm other countries large economies like the you asked how exposure to europe which could turn fatal they had all the world bank robert zoellick says responsibility is what current policy making is lacking it's not responsible for the eurozone to pledge fealty to a monetary union without facing up to either a fiscal union that would make monetary union workable or accepting the

consequences for uncompetitive yet burden members it's not responsible for the united states to falter and facing fundamental issues such as an sustained growth in entitlement spending the need for a pro growth tax payer system and a stalled trade policy. unless europe japan in the united states also face up to their responsibilities they'll trade down not only themselves but the global economy the challenge truck may command says the crisis over in the russian automotive industry and companies expecting to double its sales this year it's also building a new plant which it hopes will produce a quarter of faecal sold in russia by twenty twelve. terrible drop in steel truth of the mind we're still probably even slightly balled up in the truth of the time of such enormous portable shields research and it's still such almost doubling this year since from order to date we should leave it for the fourth of july but we have

good pictures of you know how to treat other leave your doesn't even at sixty feet it isn't that we trust which is by far the most anywhere in the world we've actually come out stronger after the crisis we took the vision of the market leadership last year and after all this we continue that model each of us with the market both the trucks and also an important mission possible. from big trucks to small cars to pounds home to wants to open its own some new plant in russia coming to has lost russia's economic ministry to allow it to launch production isn't mostly important components it's also looking for a judge exemption even though it's only available to manufacturers who use the majority of locally sourced components how well the company may still get the tax breaks of the bills the new planted a lot of russia's new crumbled regions and in the cells twenty thousand cars in russia where the revenues are down five percent in the first half of the gear. let's have a look at the markets now world prices are high a boy by european equities but the upside was capped as the market awaited

a bunch of data from the you asked for an update on the progress of for economic recovery. and european stocks are rallying on signs that european policymakers said they were convinced greece will stay in the euro zone. and finally here in moscow the market's not in the black truck and overseas gains there are chances of the psychological mark of sixteen hundred points gaining more than two percent of the south of my six is high of the same number of points a stick a look at some of the individual share moves on the my sixteenth he beat the shares are rallying the company says it will invest forty five billion dollars in upstream . billion dollars in downstream business by twenty twenty or forty years more than two percent on the rise russian flag carrier has to back almost four without million of its shares for about ten million dollars russia is number one lenders burbank is moving to some type of song. trend in other news russia's biggest

petrochemical producers a group gets to hold it initial public offering for the next two years sober is worth more than seven billion dollars it has been mulling an offer in three years but it had to postpone it as a result of the downturn in two thousand and eight its net profits expected to grow three percent and twenty eleven from one point four billion dollars in the previous year. ok that's it for now more time with my colleague marina. the.

wealthy british style. that's not the type of. market finiteness going to. find out what's really happening to the global economy which might stronger for a no holds barred look at the global financial headlines tune into cars a report. in india all jesus made the buildings the grand central shirts in limbo and the taj mahal him are awesome i'm going to watch president combine the shores of fame which resembles a minnow beatriz a public clothes a go to go on mahal hotel charges the same rent hotel clothes kind of hotel trolling clothes and in the radio alina showed the hotel's shirts in new delhi who

took the money babyhood turns her collection of ramona clothes of the amazons maidens hotel believe that paul was in the lead up medicine shift he was punished but they for cash cuts. it's hard also now here i must say this is our team now the new author or season maybe of our survivor freedom and democracy that people say they're afraid any criticism of the new government we've met is severe punishment meanwhile leaders of the u.k. and from visiting tripoli to express most of the government they've called on the. prongs in germany's downtown calls for greece to be case out of the euro is a distant third on the string of the two thousand today trying to actually trash britain's concern another is close that harms. russia's political season they need

just on the way but the past scandals already here one of the country's richest man is great as leader of the right to be able to just a few moments in the job. right now here are the why swiss banks are coming out rough against american rules of financial watches kaiser and stacy have it explained in the kaiser for tonight's. i'm kathleen cleaver but. this is the kaiser report there must be a big story here talk to me well max it appears that your billboard in times square was spotted your five hundred dollar silver if you want it we received this tweet from sean ono lennon max and stacy are like that eldridge cleaver and kathleen

cleaver of the financial revolution but this time will be televised that's sounds right. welchers cleaver was the minister of information for the black panther party and he was you know standing up against the oppressor that kept them in ghettos and you and i here on the kaiser report are resisting the financial oppressors that keep us in debt ghettos that's right it is also famous for a pair of trousers that he designed the elders cleaver sleeve but these are the pass i wear when i'm doing that show. so i want to show you that a financial war is on and war this war is over if you want it j.p. morgan chief says basic rules anti u. s. yeah i saw that tell us more so j.p. morgan chief executive jamie dimon was interviewed in the financial times and he said i'm very close to thinking the united states shouldn't be in basil anymore i would not have agreed to rules that are blatantly anti-american our regulators

should go there and say it's not in the interest of the united states we're not doing it and this refers to recent here on capital to nine point five percent in relation to the banks that are too big to fail including j.p. morgan but i'm really tired of j. p. morgan and jamie trading america like a special needs child i'm tired of him trying to convince the world that. america needs to be coddled and treated like a baby americans want to compete they can compete except for banks like j.p. morgan that have snuffed it down with too much debt if jamie diamond resigned if j.p. morgan were shut down this would be the most greatest possible thing for american competitiveness because he's choking the competitive spinning it with this debt fraud and debt pushing he's a terrorist this jamie dimon and also that and to be glib stacey herbert i'm saying that because he fits the profile of a terrorist he's a psychopath he follows an outdated ideology he's willing to kill himself or is god

money well i think that it's actually terrorists tend to use asymmetric warfare because they themselves are weak and they cannot fight against the power of the empire so in this case i think j.p. morgan and jamie diamond are the empire they are operating the financial war they are carpet bombing us with debt and it's so it makes sense that people are saying yankee go home life and the vietnam war of course but vietnam war is getting more and more resonance in this era because you've got the stagflation you've got the eldridge cleaver castle and cleaver of the financial peace a chance movement back on stage and you've got. clearer pants which will be coming back in a huge way and of course during the vietnam war we saw agent orange used to carpet bomb the nation of vietnam our current agent orange in this financial war is high frequency trading the three hundred million pound cable that will save traders

milliseconds this is a nearly five hundred million dollar cable being laid across from new york to london and this is in order to save six milliseconds over the current sixty five milliseconds that it takes to cross the current cables this is high frequency trading and this three hundred million pound project. high frequency trading is looting ok now this is what i don't understand why david cameron in the u.k. he castigates the looters and the rioters but all they're doing is any elating j.p. morgan bankers they're looting this is a high frequency trading looting and they're getting the government they're getting these people who are looting you know sticks of juicy fruit on the street because they're having their money stolen to pay for high frequency trading looting of course we're going to be looting of course you invited this into your own homes because you support looters at the banks in the city of london and that new initiative to split the two banks in between a casino bank a new to the bank in the u.k.

of course has been delayed another five or six years because david cameron lives alluding he is in fact a terrorist is no they say that not to be glib i say that as a point of fact cameron and also on our terrorist or financial terrorists they're committing financial oppression they're killing people but to put this into context how much they can loot one millisecond advantage could be worth up to one hundred million dollars per year to the bottom line of a large hedge fund so max you know markets where do they get this one hundred million dollars in profits per one millisecond by stepping in front of normal trading activity on the exchange and all the buyers and sellers come together to effect the trade if you can step in front of those two and create a mediterranean that interrupts the normal functioning of markets and steal a few pennies from that price discovery moment you get to lose a few pennies multiply that times a trillion and you've got many many billions of dollars worth of illicit profits that go into the bottom line which incidentally is never reported because it's held

off balance sheet or in a shadow banking system or a pet off balance sheet bank j.p. morgan the enron of our times they're going to zero it's special because five hundred dollars over them jake warga stephanie going to sell for and that major financial terribly wiped out well max london is the heart of this financial war and wherever you find financial mercenaries and warriors you find prostitutes lap dancing to. takes off among students struggling with b. so apparently students in the u.k. have been saddled with debt up to nine thousand pounds per year and these fees and they're turning to a lap dancing so london has become kind of the saigon of this financial war they love a long time you have you gone you love you long and it was almost on and all this anyway you know it's funny because the airport ramp from the airport in a state goes on to the promenade is on the way no matter what country is having the worst financial crisis at the moment there's usually prostitutes from that country on that off ramp and you see the mother coming out of the airport and i won miss

rice these american young american girls they're still prostituting themselves because of the financial armageddon that's visited upon them from their fearless leader laureus obama well it turns out that eighteen percent of the lap dancers at this one lab down some chain in london are college students and the owner of this chain says that these girls are very popular because his clients often don't expect them to be knowledgeable in interesting as well as attractive. they like to have a lot there to talk about interest rate differentials from you know school of economics coeds that unfortunately a prostitute themselves because i was born in cameroon raised the tuition free to pay out the bail out the banks i was more money down these clubs every night and this is. should be you should want your husband to be a little bit more above board with his economic policies or else we're going to lose and for this twenty two year old should sit down and the rhinoceros lap

dancing scot so the carpet bombing began nine eleven two thousand and one that annual holiday in america since nine eleven it has paid to own silver gold and oil again this is the asymmetric warfare that we have identified with a five hundred dollars silver if you want it you can and this financial war it's in your power. to end this financial war and best performing asset according to wall street journal in silver it's been up more than nine hundred percent since the eleventh of september two thousand and one gold was a healthy second up five hundred sixty eight percent in oil up over two hundred percent that we called it in two thousand and two ninety percent of your portfolio into gold and silver haven't changed my allocation samstag i'm still ninety percent goldens over but max what about the psyops here because the dollar in that time is down thirty four percent but if you were to look at the other financial news

programs you would think that the safe haven during this entire time has always been the us dollar those get prominent headlines and you would think in fact that the valar teil dangerous asset to associate yourself with is silver because the psyops of the mainstream media like soon to be say is a propaganda outlet like they did the vietnam war if you look at those vietnam war movies or saw. some chick on the speaker someone saying you americans you learn when those warrior type of thing that's what c. and b. c. is all about their flooding the airwaves with propaganda that the dollar is good and precious metals are bad and of course we're going to lose as laura because silver is going to five hundred thanks to you and of course many in the west think somehow they're not the ones also being carpet bombed so let's look at this other headline in this is from january of two thousand and eleven the difference ten years makes and the chart is literally a picture that tells a thousand words employment down income down household net worth down

g.d.p. up and yet incomes were down x. that means but workers were sharing none of it wealth of the average household down corporate profits up obviously you see that number there the most yes corporations have been given carte blanche all the money they could possibly ever want from the government and they don't have to hire anybody if they can fire people so again it's a model of. and you see that the two columns to the right are health insurance and oil prices those are up and health insurance of course is part of the financial sector many americans don't understand that they don't believe it they will call it socialism if you try to take that debt away from them but it's a financial war america is so stupid because they're willing to lay participate in group for discounts on milk care or sushi but they won't want to group discount on health care so let's talk about more of this financial war and the debt bombs being thrown at everybody two final headlines here max g.

eight resists arab spring financing pledge to thirty eight billion dollars so they doubled the amount they're pledging but the psyops eight make it sound like we're giving aid to these you know these people in the arab spring countries and in fact it's all gone almost all of it by the g. seven countries including france italy on the verge of collapse where do these people get the money the i.m.f. is also pledging thirty five billion in aid to these countries where do they get the money that's occupying occupying these countries of debt its debt as we've been saying that terrorism it's dead terrorism debt carpet bombing of these countries used as a mission of control and it's just been spreading for decades christine legarde new i.m.f. she understands this philosophy very well suzi debt prostitute she's a debt madam if you will is a debt madam and these countries are debt prostitutes i mean christine legarde she she loves arab spring long time. so and then here is another part of this financial

war here max see a verse miss out on forty three billion pounds in interest since march two thousand and eight so figures from the bank of england suggest that savers have lost more than forty three billion dollars since bank rate was cut two point five percent two and a half years ago but borrowers have benefited to the tune of more than fifty one billion pounds. as they have paid less in interest on their loans over the same period but the amount doesn't doesn't add up if you want to restart the economy raise interest rates of people can save money and that you have capital as the basis of capitalism and always it's good and that anymore and i have one final thing to say on this matter and that is that to put this into context in the u.k. at the moment there's a raging debate about this pay fifty percent tax the bankers are resisting it but the the fifty percent tax rate will wait raise twelve point six billion over five years here forty three billion stolen from savers over two and

a half years and they remain silent. making the noise for the same errors in the interest of the savers where they kill and eldridge cleaver other new seventies give clear to peace a chance says our friend on a silver liberation army all the way. stay right there much more coming away. from. the official ante up location. called touch from the caption. on the. video. would come. and speak now in the palm of your. mission. critical free. free. free

free. free. free. free broken video for your media project free media don carty talk com. bugga magnetize report imax cars are time now to go to manila and talk with iss yama yanis is an economics futurist and guest blogger and of two minds dot com z s welcome to the kaiser report thanks for having me max all right zeus' we covered one of your recent posts on the kaiser report called endgame alone debt is fraud debt forgiveness is the last and only remedy tell us about the argument you make for debt forgiveness well one of the most basic arguments for

debt forgiveness has to do with arguments that have been brought up by your you know guest michael hudson and myself and others and not simply that that especially when interest is attached to it goes goes on indefinitely and it goes up a bench will even if it's a small interest invention goes up exponentially now actually economies don't follow that trajectory they they usually plateau out a little bit and even decline at points and if you have debt that will go on come hell or highwater and economies that fall off or even out after a time what's going to happen is that more and more of the productive capacity of those economies are going to have to go into servicing the debt to the point where the fruits of labor and the fruits of production will be entirely consumed at some point and then assets have to be cannibalized to pay off for the debt and clearly you know people the only way to get around that is to just try to ignore it but at

the point we're at now especially when it's compound by fraud and debts better just thrown into the system of tens of maybe even hundreds of trillions of dollars it just makes. a real solid case for saying we don't know which steps are valid which ones are not we know the basic mathematics of debt we need debt forgiveness to basically zero the value scale reestablish. and reward productivity and have an i started out again with our value create value creation going from the right from the right perspective right so because of compound rate of interest the debt is expanding exponentially whereas any growth scenario to pay off their debt is bound by arithmetic growth curve so these two will never meet so paying off the debt is impossible but let me read to you a comment that was made on our site from someone named a you one moment who said quote debt forgiveness would reward people who made

stupid decisions in disadvantaged and prudent saver your response well i mean that's a real typical one but the easiest response to that is a say that's what i'm doing already i'm a saver actually i don't have debt i have a pretty decent liquid savings i don't have a mortgage payment i don't have car payments i don't have student loans but a my savings right now are being used to subsidize i mean this is what he was talking about is exactly what's happening now to an extreme degree my savings are not subsidizing banks bailouts they're subsidizing people who are foreclosing who defaulted on the mortgage who are living rent free in zero interest rate policies i'm subsidizing connotative easing i'm subsidizing skyrocketing necessities like food and gas are being complicated by this and it and the list just goes on so the first part of that question would be that's what we have now we have a pretty severely and the second part i would say is you know debt forgiveness is

not about rewarding or punishing savers are better it's about reestablishing productivity as the basis that's the way that i view it anyway. if i had other people that gets absolved right now i would be immensely helped as a saver because i wouldn't be subsidizing all of this. tony well and i wouldn't be subsidizing all this debt out there and currently that's exactly what i'm doing and you know there's another thing here too i mean when it comes to relative disadvantage. yes i would lose a little bit of my bargaining power if i am you know not able to sort of go to a debt stressed home a home owner into selling for pennies on the dollar but that's not what i want i want quality of life i want communities that are sound i don't want to be surrounded by a bunch of empty houses that are just in permanent for closure and i want my fine

want to be able to go out with my friends without having them work two jobs to try to pay off a lot of this project meant debt so i see debt forgiveness as a way to to level a lot of the playing field and i wanted to make a clarification though for my article which i didn't get into and that is this does not mean that there will be no bankruptcy or no criminal or civil prosecution quite the contrary and in part of for debt forgiveness would have to have those things brought forward as a way to make sure those conditions didn't continue to exert themselves after the debt forgiveness was enacted and the actual administration of that is it for another paper and i'm actually writing one on that so i don't want to get into the details but that's the general out of. framework that i'm dealing with ok what about the role of the central banks and the i.m.f. which is keeping the debt issue unresolved well i mean i go back to what you have either implied or outright stated these guys are sort of like debt drug pushers

they promise the world that it's going to change if you just invest and borrow money and so forth and if it doesn't turn out quite right then you're kind of hoped on to the payments and and those agencies have basically functioned in that way they've done it through development and funny infrastructure projects that put countries into serious debt and then they use that debt to gain access to resources and other kinds of things but i i mean. one of the most important things to understand here some people the general public loses this is that these banks represent and are agents for private profit seeking banks that benefit usually a fairly narrow slice of the population they're not they're generally when you look at their actual activities to benefit the then ocracy of larch i look at for instance the big mandate for the fed our central bank the federal reserve saying to keep on.