parliamentary elections in december. right now on r t why swiss banks are coming up against american rules max kaiser and stacey herbert have all the details in the report coming up next. i'm kathleen cleaver but. this is the kaiser report there must be a big story here talk to me while 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 that this time will be televised that's right. 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 these are the pass i wear when i'm doing the 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 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 tear one capital to nine point five percent in relation to the banks that are too big to fail including j.p. morgan i'm really tired of j. p. morgan and jamie diamond 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 spigot with this debt fraud

and debt pushing he's a terrorist it jamie diamond i don't say that to be glib stacey however i'm saying that because he finished a profile of a terrorist he's a psychopath he follows an outdated ideology he's willing to kill himself or is god money well i think that it's actually terrorist tend to use asymmetric warfare because they themselves are weak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 like in the vietnam war of course but vietnam war is getting more and more residents and this era because you've got the 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 pounds 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 and this three hundred million pound project i mean. 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 emulating 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 go on the street because they're having their money stolen to pay for high frequency trading looting

of course are going to be looting of course you invited this into your own homes because you supported looters at the banks in the city of london and that new initiative to split the two banks in between the casino bank of the 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 as well and i say that not to be glib i say that as a point of fact cameron and all born are 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 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 moment 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 they're going to zero it specially if we get five hundred dollars silver then j.p. morgan is definitely out in silver and that major financial terrorist be 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 fee 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 lap dancing so london has become kind of the saigon of this financial war they love me a long time me love you long time me love you long time and it was all rest 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 the matter what country is having the worst financial crisis at that moment there's usually prostitutes from that country on that off ramp and you see the money are coming out of the airport and i want to misrata says american young american girls there stand 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 lap dance in 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 as a they like to have a lap dance and talk about interest rate differentials from you know school of economics coeds that unfortunately at the prostitute themselves because i was born and cameron raised that to wish and free to pay out the bail out the banks i was more money down these clubs every night mrs osborne 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 him to this twenty two year old should sit down and write nasr is lap dancing spot so the carpet bombing began nine eleven two thousand and one that annual holiday in america since nine eleven has paid to own silver gold and oil again this is the asymmetric warfare that we have identified with the five hundred dollars silver if you want it you can end 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 up five hundred sixty eight percent in oil up over two hundred percent that we called it in two thousand and two which said go ninety percent of your portfolio into gold and silver i haven't changed my allocation sense then i'm

still ninety percent gold and silver but max what about the psyops here because the dollar at 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 is always been the us dollar those get prominent headlines and you would think in fact that the valar tile dangerous asset to associate yourself with is silver because the. mainstream media like soon to be say 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'll never win those war you know type of thing that's what c. and b. 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 that 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 that 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 carte blanche all the money they could possibly ever want from the government and they don't have to hire anybody they can fire people so again it's a model of. terrorism 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 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 participate in

group for discounts on they'll 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 reese's arab spring financing pledge to thirty eight billion dollars so they doubled the amount they're pledging that 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 loans 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 debt to these countries where do they get the money that's occupying occupying these countries of debt its debt as we've been saying debt terrorism it's dead terrorism debt carpet bombing of these countries debt used as a mission of control when it's just been spreading for decades christine legarde new i.m.f. it she understands this philosophy very well she's

a debt prostitute she's a debt madam if you will she's 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 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 good 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 kept it all as the basis of capitalism but nowadays it's that and that anymore and i have one final thing to say on this max and that is that to put this into context in the u.k. at the moment there's a raging debate about this fifty 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 or understanding the interest of the savers where they kill a flea and eldridge cleaver or other new seventy's give financial peace a chance says our friend john a lot of silver liberation army all the way along stay right there much more coming your way. and i.

was right we were struggling.

welcome back to the kaiser report on macs cars are time now to go to manila and talk with zoos yama yanis new citizen economics futurist and guest blogger and o's two minds dot com zeus welcome to the kaiser report thanks for having me max all right says we covered one of your recent posts on the times a report called end game when debt is strong debt forgiveness is the last and only remedy tells 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 debt especially when interest is attached to it goes goes on indefinitely and it goes up eventual 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 high water and the economy is that fall off or even out after a time what's going to happen is that more. 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 at now especially when it's compound by fraud and debts that are

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 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 as started out again with our value create value creation going from the right from the right perspective right so because of a compound in rate of interest the debt is expanding exponentially whereas any growth scenario to pay off that 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 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 i'd 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 live. rent free zero interest rate policies i'm subsidizing quantitative easing i'm subsidizing skyrocketing now says cities 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 and 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 debtors it's about reestablishing productivity as the basis that's the way that i view it anyway. if i had other people the debts absolved right now i would be immensely helped as a saver because i wouldn't be subsidizing all this phony wealth 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 foreclosure and i want my i 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 fraudulent 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 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. 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. this is in keeping the debt issue unresolved well i 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 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 they're generally when you look at their actual activities to benefit the democrats see at large i look at for instance the big 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 what the role that they say that they're playing and i see the what the role is that they seem to be actually doing and that is that 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 for it seems like a bit of a cat. mouse game with the i.m.f. and yeah the pieces of the so-called troika teasing the greek government and teasing the greek people about a resolution of this debt problem all at 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 greek constitution now that little piers is greece 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 bet against the positions they some script that 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 pennies on the dollar i mean i thought that was bad enough but then when you start to go to these i'd that 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 didn't add any you know eddie

self-consciousness at all about doing it now to actually establish countries in the european union so i think it's extraordinarily troubling because what it would there is that 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 by summer campaign as a way to form. the resolution when i was in athens last time i was mobbed everywhere i went because you know the mainstream media in athens that is not really covering the the whole and so last troika hostile takeover of greece we're the only people that are covering that did crash j.p. morgan by still recant pain isn't live and kicking in greece of course you can

include goldman sachs in that campaign as well who fraudulent disgrace to join the arrow by selling them illegitimate illegal contracts so your thoughts on the crash j.p. morgan by so many campaign i understand. you're supporting this is why i am i first i was skeptical because because i saw that j.p. morgan leased 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 for the first thing i'm one of my most major concerns just as a regular citizen is i want to con amaze 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 entitlements 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 j.p. morgan the more and more they're forced to take compensatory actions which may or may not be league. 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 by 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 and prosecution on these major firms is a good thing and it 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 could this if it is specially if it gained some speed could could really have an 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 some or you own 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 cars 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 max

kaiser and stacy herbert and we thank my guests yamma yanis if you want to send me an e-mail please do so times report at r t t v dot ru until next time this is next guys are saying bye.

the british. me strong.