now but for more on the stories we covered go to our t.v. dot com slash usa or you tube dot com slash r t america you can follow me on twitter at the i'm christine for sound thanks for watching.

i'm kathleen cleaver but. well 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 the eldridge cleaver and kathleen cleaver of the financial revolution but this time will be televised that sounds right and well just 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 he's the past i wear what i'm going to show. so i want to show you that the financial war is on and war this war is over if you want it j.p. morgan chief says bank 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 basle 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 reasoning tear one 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 hyneman trading america like a special needs child i'm tired of him trying to convince the world that i'm. america needs to be coddled and treated like a baby and 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 spigot with his debt fraud and debt pushing he's a terrorist cheney done it is i don't say that to be glib stacy herbert i'm saying that because he fits the profile of a terrorist he's a psychopath he follows an outdated ideology is going to kill himself or is god money well i think that it's actually terrorists tend to use asymmetric warfare because they themselves are weak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 so it makes sense that people are saying yankee go home like in the vietnam war of course but vietnam war is getting more and more residents and this era because you've got these stagflation you've got the eldridge cleaver castle and cleaver of the give financial peace a chance movement back on stage and you've got the eldridge cleaver 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 so 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 in this three hundred million pound project. high frequency trading is looting. and 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 late in j.p. morgan banker 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 were supporting looters at the banks in the city of loaded and that new initiative to split to two banks in between the casino bank and utility 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 all the large barrister financial terrorists they're committing financial oppression they're telling 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 their 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 what the buyers and sellers come together to affect the trade if you can step in front of those two and create a met

a trade that interrupts the normal functioning of markets and steal a few pennies from that price discovery moments and you get to loot 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 in a pet off balance sheet bank j.p. morgan the enron of our times there are going to zero it's question if we get five hundred dollars then j.p. morgan stephanie got in silver 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 tape. soften mung students struggling with the 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 know you learn to love you long time and it was all restored and all those 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 the matter what country is having the worst financial crisis at the moment there's usually prostitutes from that country on and off ramp and you see the mother coming out of the airport and i would be surprised these american young american girls they're still getting themselves because of the financial armageddon that's visited upon them from their fearless leader or glorious obama well it turns out eighteen percent of the lap dancers at this one lap dance and 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 interesting as well as attractive to a lot of a lot of passive talk about interest rate differentials from you know school of economics. that unfortunately a prostitute themselves because i was born in cameroon raised the tuition free to

pay out of the bailout of banks i lost more money down these clubs every night and this is. should be you should watch your husband to be a little bit more above board with his economic policies or else you're going to lose and there's a twenty two year old shiksa down in the rhinoceros spot so the carpet bombing began nine eleven two thousand and one 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 the best performing asset according to wall street journal was silver it's been up more than nine hundred percent since the eleventh of september two thousand and one gold was a healthy second five hundred sixty eight percent in oil up over two hundred percent that we saw that in two thousand and two ninety percent of your portfolio

into gold and silver and change my allocations and i'm still ninety percent gold and silver 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 it's always been the u.s. 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 c m b c is a propaganda outlet like again the vietnam war if you look at those vietnam war movies or. some chick on a speaker someone saying you americans you learn when there's warrior type of thing that's what c. and d. c. is all about they're flooding the airwaves of propaganda that the dollar is good and that precious metals are bad and of course we're going to lose this war 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 marks that means but workers were sharing none of that wealth of the average household down corporate profits up obviously you see that number there the most yes corporations have been given car plus all the money they could possibly ever want from the government and they don't have to hire anybody above i think and fire people so again it's a model of. and you see that the two columns for 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 that they will call it socialism if you try to take that debt away from them but it's

a financial war oh americans are stupid because they're willingly they'll participate in group for discounts on mail 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 to finally headlines here max g. eight reese's arab spring financing pledge to thirty eight billion dollars so they doubled the amount they're pledging but at the psyops they 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 instead 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. it she understands this philosophy very well so you see that prostitute she's a debt madam if you will she's dead now them and these countries are get prostitutes oh you mean christine legarde she she loves arab spring long time. so and then here is another part of this financial war here max savers missed out on forty three billion pounds in interest since march two thousand and eight so figures from the bank of england suggest that savers of 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 a good amount those it 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 but nobody's interested in that anymore and i have one final thing to say on this next and that is that to put this into context in the u.k.

at the moment there's a raging debate about the if the percent tax the bankers are resisting it but 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 they were here making the noise for the same hours we're just pulling the interest of the savers where they can leave and eldridge cleaver other new seventy's give peace a chance move says our friend found on a silver liberation army all the way. to stay right there much more coming your way so they don't. really believe this sign. from. the future are

covered. budget magnate has a report on max cons are time now to go to manila and soc was is is young the yanis use is an economics futurist and guest blogger and own two minds dot com zeus welcome to the times report thanks for having me max all right ed says we covered one of your recent posts on the times a report called endgame alang debt is strong debt forgiveness is the last and ollie 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 that

simply that debt especially when interest is attached to it goes goes on indefinitely and it goes up eventual even if it's small interest invention goes up exponentially now actually khana mees 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 are right now especially when it's compound by fraud and debts that

are to. thrown into the system of tens and maybe even hundreds of trillions of dollars it just makes. a real solid case for saying we don't know which debts 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 start out again with our value create value creation going from the right from the right perspective right so because of a 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 new one moment who said quote debt forgiveness would reward people who made stupid decisions in disadvantaged the 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 that 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 and are subsidizing banks bailouts they're subsidizing people who are foreclosing who defaulted on the mortgage who are living rent free zero interest rate policies i'm subsidizing connotative easing i'm subsidizing skyrocketing necessities like food and gas are being complicated by this 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 in the second part i would say is you know debt forgiveness is not about rewarding. or punishing savers or better it's about reestablishing

productivity as the basis that's the way that i view it anyway. if i had other people's bets absolved right now i would be immensely helped as a savior because i wouldn't be subsidizing all this phony wealth and i wouldn't be subsidizing all this debt up 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 foreclosure and i want my father want to be able to go out with my friends and without having them work two jobs to try to pay off a lot of this project in 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 and quite the contrary and in part of that forgiveness would happen 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. framework that i'm dealing with ok what about the role of the central banks and the i.m.f. is is in 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 in borrowed 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 funding 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 mean i think 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 there generally when you look at their actual activities to benefit denmark or c. at large i look at for instance the paid mandate for the fed our central bank the federal reserve saying to keep unemployment down and yet you know private companies at least in the short term benefit from higher unemployment because it depresses

wages so there's a there's a conflict of interest here and i'm not sure what the role is i see with the role that they say that they're playing and i say the what the role is that they seem to be actually doing and that is they're protecting banks hiding this fraud and continuing to say we just want to extend it for ten and keep these debts going and growing rather than actually finding a workable way to resolve them i think this is one of the reasons why debt forgiveness is becoming so compelling they just isn't an answer going that direction well it seems like a bit of a cat and mouse game with the eye and any other pieces of the so-called. teasing the greek government and teasingly agree people about a resolution of this debt problem all of the same time getting them to sign away their assets through the memorandum the famous memorandum which gave the troika a place on a piece of greek assets above and beyond the. constitution now that little piers is

the grease is on track to lose its sovereignty as a greek background yourself what are your thoughts about that i think this is one of the most troubling aspects of this whole thing i mean i've been already troubled by the whole disaster capitalism where these companies have created an even a bet against the positions they some script they themselves created to engender suffering in the population and then they use that position that the position of need that they've created in order to profit or to buy assets of pennies on the dollar i mean i thought that was bad enough but then when you start to go to these i'd it is this level of stripping you know countries other assets and essentially taking them over now they've done that before in more developing countries more covertly but now they're just going ahead and bad any you know eddie self-consciousness at all about doing it now to actually establish countries and

the european union so i think it's extraordinarily troubling because what it would there's the specter is rising of international corporations having a lot more power on a very real practical level than national governments and i don't think that's a healthy development i think we're going to have to organize as a global citizenry against that and support greece and support greece as a sovereignty and i certainly do from my background but i do just as a global citizen as well finally i want to get into this crash j.p. morgan buy so over a campaign as a way to force a resolution when i was in athens last time i was mobbed anywhere i went because you know the mainstream media in athens that is not really covering the the slash troika hostile takeover of greece we're the only people that are covering that the crash j.p. morgan by still recant pain is up live and kicking in greece of course you can include wellness sacks and that can. pay those loans who fraudulent disgrace to

join the euro by selling them illegitimate and leave all contracts so your thoughts on the crash j.p. morgan by summary campaign any e.u. you are supporting this is why i am i personally was skeptical because because i saw that j.p. morgan lease from a zero hedge article had basically just dumped their shorts and an unregulated company company but then i started to think about the larger processes i mean the perth first thing i'm one of my no major concerns just as a regular citizen as i'm on economies that start that help people make a living rather than make a killing i think a lot of us have kind of gone off the reservation and taken up this sort of addiction to debt and this exponential growth by you know demanding talents from government and trying to get these huge percentage returns on stocks and this campaign that you're running is one of one of the ways to sort of reground and read democratize i think some of this craziness that's happening first of all when

you're a citizen and you have some gold or silver as specially in asia you can use it to barter you can use it to hold value you can it's even a decent investment right now i think from when you first suggested this campaign it's almost doubled in price silver has but even the bigger picture things i think are more compelling and one is that the more and more you get regular people to buy physical silver the more and more first of all with with with j.p. morgan and more and more they're forced to take compensatory actions which may or may not be legal which people can then come back to prosecute them for and i think that j.p. morgan is moving that into that unregulated company may be one of those things but the second thing is also when you have all this silver paper out there these exchange traded funds and so forth but more people buying up the physical metal it's making it harder for them to sort of cover cover their bases or make it look like they actually have the metal they're claiming they represent so. anything that

can democratize access to financial resources and put some serious pressure including pressure on bankruptcy an at and prosecution on these major firms is a good thing and at first i didn't think european pain was doing that but as i began to look at more deeply at it i'm beginning to support it more and more and saying wait a minute this this this if it is specially if it gained some speed could it really have it and a leveraged effect on on helping bring the empowerment back toward global citizens and away from international private corporations that's right five hundred dollars lower is within our reach if we want it and if you own that s.l.b. the exchange traded fund you do not own physical sauber only paper and it will probably not work for you all right that's all the time we have for suze thanks so much for being on the kaiser report i first heard it my ex thanks a lot and that's going to do it for this edition of the kaiser report with me next time for and stacy herbert i want to thank my guests just yamma be honest if you

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