it is the world has been seeing from the streets of canada. before asians rule the day. the norm eight years have approved new powers for the eurozone bailout fund designed to help struggling economies meanwhile more public protests erupted on things as international desk inspectors assess the country's progress in implementing terrorism measures. russia has a new movie lines not to take this tensions run high is a call for those who were going to flame via nato to write down on the serbian barricades. and china is hours away on month space the origin of the heavenly palace some odds with but a step towards building its parry and space station. all the headlines here and also coming up next to report stay with us.

because or this is the cause the report things are heating up the pressure is building this financial markets belts are blow satyr max kaiser yeah before we get into jamie diamond's tirade we have to look at this poster from singapore this is a g.p. morgan advertisement in singapore we believe humans behavior creates unique investment opportunities many investors make a motion only influenced decisions that can cause market irregularities well that's why we've been talking about that when banks like j.p. morgan create chaos and markets using derivatives people get frightened and they

make irrational decisions and prices jump around and who's they're profiting from this j.p. morgan this is a form of price propaganda this is a form of financial terrorism jamie dimon c.e.o. of j.p. morgan by propagating this on a financial terrorism is my definition of financial terrorist ok so he agrees that human behavior can create unique investment opportunities that this chaos can create opportunities so when you read a headline like jamie diamond's tyree against bank regulators you threw a hissy fit about a capital surcharge for the systemically important banks diamonds tirade was directed at mark carney bank of canada governor in a closed door meeting in front of more than dozens of leading bankers and regulators the financial times reports according to the f.t. things got so heated that goldman sachs c.e.o. lloyd blankfein sent an apologetic e-mail to carney afterwords.

there's blankfein doing the bad cop routine screening. a financial officer of another country gets him completely frazzle an income smooth lawyer ball of law smooth comin in talk him down good cop bad cop and this is what we saw tim geithner in europe try to get merkel to accept european tarp who are these american financial terrorists and largely because i love the role of the world and caused our destruction why i care stoic but there are two zero zero jerry go to the cubs again jamie dimon the c.e.o. of a bank is in a closed door meeting that we don't know about other than the fact that he threw a tirade to our regulators and to a central banker now think about the occupy wall street guys being arrested dozens and dozens of them amazed in the face for walking down the sidewalk here's to me

diamond was he maced in the face no according to the reports no he wasn't these bankers the lloyd blankfein and jamie diamond to the world are able to me in closed door meetings with regulators and screech at them now let's turn to this now if a miss clip from the b.b.c. where less serious than e spoke to him he spoke some truth everybody in the mainstream media is now dismissing him because shock he loses his own money when he trades but next let's look at his answer when he was asked whether this european stabilisation plan would work. what i would say to everybody is get prepared this is not a time right now to wishful thinking the government going to sort things out governments don't rule the world goldman sachs rules the world goldman does not care about this rescue package neither does the big funds president say goldman sachs rules the world the bankers rule over the governments we've been saying this for years now this is should not be

a surprise the trader here is just saying look it's an adversarial relationship i'm trading against you you're my enemy you are the person out there who has to work for a living i get bailouts i don't work for a living i just take all the money the government gives me i make best if i make a losing bet they bail me out you suffer ha ha you're the loser well he's saying in fact that all of you people out there are waiting for your government to rescue you they are not going to rescue you because they are working for the banks the banks of the world you have to appeal to the bankers to step down come out with your hands up whatever it is you have to talk to them because talking to your government is not going to do anything for you at this point because as he says the banks rule the world and how many times has this dick durbin the senator from america also said this he said the got the banks rule the place so how many times do you have to be told but i mean i don't understand any of the occupy wall street folks are down there and they're wondering well we're here we're not what do we do well they have

to demand that the bankers come out their hands up over going to go in so here he is he says that goldman sachs rules the world and the other big banks now let's turn back a little bit wind back a bit in the his interview where he explains the mind of a trader how the trader how a banker looks at the financial chaos in the world for most traders it's not about is that we don't really care much how the interface to having a fixed economy and how they're going to fix the whole situation our job is to make money from it. personally. i've been dreaming of this one for three years i have a confession which as i go to bed every night i dream of another recession i dream of another moment because people don't seem to remember the thirty's depression the depression in the thirty's wasn't just about the market crash there were some people who were prepared to make money from the crush and i think anybody can do that it isn't just for some people in the elites anybody can actually make money

it's an opportunity but once again it shows the asymmetric quality of this really a war fare between traders that can profit in any market and the overall economy they can only profit in markets and not only that but a down market because it's driven by fear happens quickly so your any allies rates of returns are higher so they have an incentive to create fear fear pays more than faith traders know this and they love to stoke fear and they are working against the general population who can only have benefits if markets go up so it's a completely asymmetric warfare just like we see asymmetric warfare all over the world where the u.s. will go into iraq for example and call that a war as somebody once said it's a war if somebody's shooting back you know here we have a financial war but it would only be a war if the people getting abused by financial terrorists were shooting back in some way but they're not ok that's why i'm back a bit here because he says bankers and traders do not care about the economy

they're only looking for profit now who gets appointed to run the economy in the united states in france in britain in germany in italy at the i.m.f. who are hired who are the head guys of the treasury secretary the economic policy who gets to determine that former bankers at goldman sachs goldman sachs and j.p. morgan so this guy is just said these guys don't care about the economy and so why are you putting them in charge of economic policy. put ben bernanke in that camp ben bernanke the only thing he cares about is reinflating the housing bubble which only benefits the bankers who are short those bonds that they got destroyed in the housing bubble collapse he's done caring about workers' wages economic growth the viability of the us economy the the us standing abroad i mean think of what a break he's done to america's standing abroad he has trashed it he's made america the laughing stock of the world but remember this now famous twitter and less

serious trauma said that bankers don't care about the economy investors tell m.p.'s bank reforms must be watered down top institutional investors have warned m.p.'s the reforms proposed by the vickers report must be significantly watered down to avoid damaging british banks that's wrong that's false but as alessio sad bankers love crashes they profit on the way down to let these banks crash but now they come crying to our m.p. you saying oh you can't let us crash what so either they like crashes or they don't like crash it's going to be like class or intellectual profile of a psychopath they they go to they they're two faced they serve two masters simultaneously and they go to the regular saying we don't want to crash and they hope to get mollycoddled by regulators like oh well we'll have to fire a few bankers and then who will buy our yachts in the back room they're committing actual financial terrorism trashing themselves as

a suicide banker worse than any jihadi the warning which in fact was a demand for radical u. turn from the government was made at a secret meeting between leading investors and members of the treasury select committee last week in the u.k. again secret meetings these bankers have face to face meetings with our representatives and threaten them they threaten them with tyreese they shout in their face and they are never missed oh where is nick clegg in all this. it may be carrying some pepper spray next time you need some of these bankers on the city short of praise cable vince cable said it's a financial war so what is he going into these meetings without any pepper spray to spray in their fair game are they talking fence cables not pepper spraying these bankers why is vince cable not bringing pepper spray into these meetings wiseman's cabled up bringing pepper spray into these meetings well one senior investor said quote the banks are trading at half their book value and if we're ever going to get

our money back the return on equity has got to be higher this is not going to happen under the provisions laid out i hire capital reserve requirements there's no quick sell you this investor thinks well there's some great deal there why doesn't he just buy the whole bank and then break it up and make it like twice as money because i've got thirty times their capitalization and liabilities on their balance sheet and the break up value is a negative five thousand percent this is what the problem is around the world this is why the i.m.f. has to bail out the banks but the i.m.f. is broke because they're made up of banks and they need a bailout from another series of banks or by the way need a bailout from other series of banks go roaming around this mobius strip carousel that musical chairs in the well all the limits gone in a person's gone now we're going to go after big guy you know please make sure you can morgan go away in this next musical chairs round up we want to get rid of these terrorists lose max member at the top of the show we showed you a poster from j.p. morgan to tell you that they signal to be told or what the game is here's a here's

a signal a headline from january twenty seventh earlier this year but we covered it from davos world it needs one hundred trillion dollars more credit says world economic forum this is where all these guys lloyd blankfein and jamie diamond of the world meet and they say we need one hundred trillion more dollars. let's see about what they're doing to put their plan into action multi-trillion grand plan to save the euro zone is being prepared so european officials are of course planning a two trillion or three trillion or four trillion euro bailout we don't know it changes all the time but they need to rescue the euro system by november fourth before cam before can because the price of hookers goes up on november fourth this is once a race but listen one hundred trillion dollars is the real number and because that's what's going to take to recapitalize the world bank but of course that means every single currency must be recalibrated and just about every single country the

world loses its sovereignty and you've got an oligarch a global bankers running the show and that's the new world order ok well let's move back to the story here because let's see how this plan is going to work they're saying first that europe's banks would have to be recapitalized with many tens of billions of euros to reassure markets that a greek or portuguese default will not upset the system and then if the banks are unable to raise that money those tens of billions on the private market they said well we are going to the taxpayer or the european financial stability facility right the second leg of the plan is to bolster the f.s.f. because there doesn't have the money to be all the banks that they say this coming plan relies on right so they've got both foot on both sides of the teeter totter they're bouncing back and forth juggling water balloons while being shot at by held by a psychopath and claiming that economic policy all right stacy hammer thanks so much for being on the gross report thank you max that's going to do it for this half but stay there much more coming your way don't go away.

bryson. moved from silence to try to. stay on top don't come. on discoveries be. communicated with you want to. test yourself and become free.

nature can give you. my welcome back to the kaiser report time now to go to los angeles and talk with former goldman sachs of bear stearns banker nomi prins bellamy is author of several fry neutral crash books both nonfiction and now fiction with their latest one thousand twenty nine crash novel black tuesday i mean friends welcome back to the kaiser report thank you max all right milly prince your novel is about the great depression are we in another great depression and if so are the central banks the g twenty i.m.f. world bank leaders making it worse i believe we are in a second great depression so let me get that out for say i've written about why we were in there and coming into that it takes a pillage and and doing the research for this novel and just watching everything that's happening around us every day it becomes more and more clear that our global

economy is in a depression and the world leaders are are doing absolutely nothing to try and understand exactly why and instead it's sort of like there's there's all mold in the walls of the global economy and they keep sort of repainting over the walls as opposed to getting in there and figuring out what caused the mold to begin with and so continues to. rot from the inside out and you have all these bailout measures and conversations about bailout measures in return for austerity in return for you know waiting until the next bailout measure is discussed without actually looking at the internal causes of the rot within the banking system or examine the lister for second central banks the g twenty i am the world bank all of those entities are effectively on the same side of the table they're all bankers helping bankers there's nobody actually whose interests lie with those are being victimized by these bankers is that true well that's true take a look at greece for example which which none of these people these leaders seems

to really done besides for the conversations about bailouts versus austerity measures and whether it's going to default or not default in a camp the fall because we're going to bail out all these like conversations are going on if you take a look at the actual reports of their conditions from even the last annual report from the national bank of greece for example there is there is a very clear discussion about how their mortgage loans for example have deteriorated their positions in what they purchased in terms of the u.s. dollar denominated talks mortgages and also the ones in the loans that are within their own country so this problem with the tear reading investments and credit within their own balance sheet with only within their own books which you can see in every other bank you know throughout greece and italy and spain in the u.s. and none of these leaders are dressing how to fix things from from that bottom from the colonel level up where it would be a loan to loan fix with respect to an individual where there would be a complete write down and dissolution of

a toxic asset with respect to an investor if we'd ever started to do that from the beginning of when this crisis in two thousand and eight became known in the united states and perpetuated throughout the world because it cannot be anything but a global crisis because we have a global financial system where things get created in one country and perpetuated in. sold everywhere else it has to be a global crisis and there was no looking at the bottom level the mechanics of what was going on bailing out investors and banks from the top does not help fix what is the foundation of the problem at the bottom and it can't and it won't and i know the friends we just played an interview with a banker in london that's making the rounds on you tube right now it's gone viral the banker says quote the government governments don't rule the world golden such rules the world that was a former managing director of goldman sachs yourself your thoughts the banks do rule the world economy in that respect they rule the world because. we look to this

crisis and we look to the crisis in one nine hundred twenty nine where there was a where there was a crash on wall street a proliferated to a global great depression for a decade what happens is the banks and the bankers create securities or assets and in twenty nine it was trust but they basically are you know these nontransparent ways of sucking in money from people from investors where they've created securities or trust or whatever that are not able to sustain themselves they bank the money up front short the securities if they can and the world and individuals are left holding the bank in that reason the holding the bag sorry that was a freudian slip and the bankers have at this point made their money collected their fees created these assets created these securities and are out where were the rest of the world is left holding all of the deterioration that has a much longer life then the moment in time where we're goldman sachs banker came up with a new security and sold it through out you know u.s.

pension funds municipalities towns in norway towns in iceland banks in greece and they're out and they made their bonuses and they're done and that is how bankers continue to control the global economy and global leaders like we're just discussing are. enabling. and of libya or both probably enabling and it continues ok so now a moment ago. nobody's taking care of the underlying root problem the root cause of this global financial crisis we can now say with any misgivings that the root cause the root problem is fraud now that fraud is not being addressed by the regulatory dimensions the f.c.c. the all the other various regulatory agencies so if they're not going to take care of the fraud and at what point in the socio economic political chain of command is there a backstop against this is another words we know bernanke he is

a fraud you know geithner's a fraud i mean it appears as though barack obama is a fraud so is it is it really a point now of no return where as there's just simply no one is going to step forward as they did in the thirty's and i want to talk about this i guess is by comparison the pechora commission where people address the fraud nomi prins well you know it in the thirty's and that was coming up to see her for what i was doing with the novel to pechora commission hosted bankers up in front of congress which which has happened in the last few years but the difference is they actually. dismantled the banking structure as it was back then rather than continue to allow banks to have the benefit of people's deposits and to make loans and to use that as potter to create securities and speculate and trade and make all sorts of fees and monies and profits along the way with that require

a commission ultimately did is divided banks so that they could continue to provide commercial services you know take the profits get loans create infrastructural programs etc for businesses and individuals and on the other side if they wanted to trade they could they could choose to trade they could choose to speculate they could choose. create true trust but they will be backed by the government that was why the f.d.i.c was created to preserve people's deposits not to preserve and bail out and to substantiate speculative trading what we have had in the last few years is something completely the opposite it's not even as bad as it was in one nine hundred twenty nine as it was fixed by the record commission of glass steagall act that came out of it in one nine hundred thirty three to separate the banks why it's worse is because all of these leaders that are refusing to acknowledge that that fraud at the right at the bottom of the system continues to exist and continues to be created and continues to deteriorate the global economy rather than acknowledging that from the regulator from the fed level from from obama's level

from geitner from from the i am now from the e.c.b. they are basically bailing it out they are substantiating without dividing the banking system the global banking system as it exists today and therefore continuing to allow the fraud at the bottom to stay there the securities that were created from the fraud to continue to be more or not more at any kind of realistic level so it continues to seep into our global financial economic economy and this is a problem and this will continue right now we had opportunities there have been many investigation committees that have horse and c.e.o.'s a lloyd blankfein was up there jamie dimon you know in front of. washington and nothing has come of that we have president obama campaign on this idea that the wall street fat cats would not be allowed to continue what they're doing well they continue to make you know profits and bonuses and that's not even the worst problem the worst problem is they continued in a banking system that has not been separated that has not been examined and that

continues globally to fester as it is so we are actually i believe in a more prolonged depression state because of the people that we have in leadership right now are so intertwined with these bankers are so intertwined with the status of all of the banking parameters and the landscape. how banks can do everything in one entity and bailing them out when it fails that we're just going to have a real prolonging pain with the exception of here and there are a few settlements and if you civil suit and a couple of watch suits that really in comparison will not extract a renewed stable banking landscape yeah we've seen something similar going on in the u.k. after the crisis there was a commission they looked at the crisis and they determined that some new regulations needed to be implemented in what's called a vickers report and the report was saying well you need to separate the speculative banks from the deposit bank they need to be reined sensed basically the

same thing that was done in the thirty's but now after a few weeks' time the lobbyist in the u.k. are saying no we can't accept that it would destroy jobs and you're going to kill the industry that the goose that laid the golden eggs and other than a watered down those even feeble attempts at regulation so i would take it that the same thing as are saying in the us and this is really i guess also interesting a global situation same thing for banks in europe and in the us there is this tendency to just let the speculative elements run right. through then not only are not only if there is a tendency there's a will there is a willingness there is an enabling to let this system run riot it's it's it's fuelling this system by bailout discussions that happened in the united states tim geithner was in europe recently saying that the you know you are of should continue to do the same thing because only by you know sort of printing money by bailing out the system as it is by making holding investors by making holding banks without any

regard to what's actually going on at the local level of these banks that the loan level at the toxic asset level the valuation level her get all that they have no interest in knowing about the true state of any of these institutions they'll just continue to find the funds to bail them out it. expense of a greater. global population in the greater economy what's happening in the process is jobs are being lost and loans and homes continue to be foreclosed upon and that's not just in the united states that is proliferating throughout europe as well there is a deterioration of all sorts of individual versus bank credit agreements because the jobs aren't coming because there isn't a stable surrounding economy for people to use to their living standard to have any sort of comfort or competence or stability that's just happy not happening and leaders you know they might spout this you might have a commission here and there it might get in the papers for

a day or two but in terms of fundamental addressing these problems rather than speaking about them they're not doing that and instead they are just making it worse by throwing the fuel of bailout money to these fires and not changing structurally globally these banks and listening to this notion accepting and enabling the notion that banks have to stay as they are because otherwise jobs will get lost well we have lost millions of jobs throughout the world we have lost standard of living throughout the world we have twenty five percent or more unemployment among the youth of the world having banks remain as they are being bailed out has done zero to to fix any part of the economy and said continues to suck the blood right out of it with the enabling institutions ok and the only prudes around the time thanks so much for being again the kaiser report thank you all right and that's going to do it for this edition of the kaiser report was a nice kaiser and stacy herbert i was like my guest nomi prins it want to send me an email please do so at times reported r t t v are you until next time this is

nice guys are saying go.