son you'd be true to the worst result you subdue club med goalie if you tell some in your system both the results and suppose the rich culture has ground many articles on the turn of the season so it's not the soldier who turned. back and watching our team live from moscow and these are the headlines protests against wall street and corporate greed go up nationwide if you grasp this wide hundreds of arrests demonstrators say the mainstream media is ignoring the rapidly growing campaign. results finance ministers put off a decision on a crucial bailout bill from greece after album submitted it wants a deficit debt markets but i agree it's already called the certain measures imposed by the government. and it is transitional leaders say but new cabinet to govern

the country until it's fully secure meanwhile had to get off the troops continue to block the colonel's received stronghold of sirte which red cross says is suffering from a humanitarian sense. and next r t is greece and its crippling debt threaten the financial stability of the entire euro zone max kaiser lights the fires under those of the upper echelons who are to blame the kaiser report is up next. cars are this is the kaiser report as the world continues to employ the financial system max keiser bailout saying currency wars are the two big beings for two thousand and eleven right here on kaiser report right that's right well the first headline then is just

a number fifty point six yes this is an image from bloomberg dot com but it's referring to the number of years in percentage terms since eighteen hundred they greece has been in default or rescheduling its debts and this is based on research from economist ken rogoff and carmen reinhart so fifty point six percent of the time since eighteen hundred greece has been in default or rescheduling debts. well max so do you think this yet s.f. therefore and yet another bailout for greece is going to do the job not at all the greek was played in this hall creation of the euro we know going back to the beginning they were seduced into hiding their debts goldman sachs was involved in this as part of this. drama this greek tragedy that's playing out now that people haven't played like jumps once again throughout history this is the role that best

suits them well ok so we're in another great depression and one of the things they're trying to prevent just like they tried to do in the first great depression is they're trying to basically defend the banks and save the banks and the expense of everybody else defaults are not an option and yet greece will default we know that everybody knows that in fact according to bloomberg there's a fifteen point six percent chance that they will default soon because they have the defaulting for fifty point six percent of the futures market right now is actually rising because of the demand for the global markets will increase once greece defaults good old you know get back to making ropes and this better cheese olive oil and hosting big bachelor parties and bachelorette parties those fabulous islands let's get back to a greece does best party party party well instead of all of these bailouts one option always presented is that greece should just reintroduce the drachma drop out

of the euro and we've presented that argument here several times from various analysts and investment advisors but i want to turn to another investment adviser here who is advising her clients that in fact germany is about to introduce the do it to mark and that's something to look forward to in the next days and weeks she says. so this is philip amal grande and she says quote the germans will announce they are reintroducing the deutsche mark they have already ordered the new currency and ask that the printers hurry up so first max who is philip graham she's on the board of joyce a bank she's an advisor to u.b.s. and prudential and she was in the bush administration on the economic policy department she was also a member. or of the u.s. president's working group on financial markets who are now called the police

protection team yes they're often known as the plunge protection team they come in and rescue markets that are falling they make sure that the dow rises and presumably now the footsie in the cac and the dax and all of the markets around the world president book who is the first person on international television in the media in krentz on t.v. and radio to make this prediction to make this assertion that the deutsche mark would be brought back oh that would be me that's right i predicted this because i know the mind of the german and i know that the whole euro project was a trick bag to reunify germany under the umbrella of the euro and then when things went bad as they inevitably would have to do they can eject themselves from the euro and there it is the deutsche mark and a super power germany. for now she doesn't have any specific evidence for the fact that there actually are printing going to mark at the moment but she does look at various things happening regarding this crisis which indicates

to her that they are about to print the deutsche mark and that is quotes from josef ackermann the the c.e.o. of deutsche bank and also vice chancellor roessler who told germany's wealth daily there should be quote no limits to thinking of possible scenarios of how to end the euro crisis and the same interview he also said one of those possibilities however is not a further bailout after this four hundred forty billion f.s.f. european financial stability fund i was the first and i hope those editors over there at wikipedia under the section predictions by max kaiser on the backs kaiser entry will make this adjustment yet they're pretty numb these bad boys and they're printing them up in size. the other point which. she says that she could see that they're printing the way to mark is you look at what the swiss central bank has

done and the canadian central bank statements that they've issued so the swiss central bank we know for a fact has introduced a currency peg immediately after that the canadians also now is that all the bad things we thought might happen are now happening so we are going to maintain a highly defensive position so she says they're preparing for the inevitable introduction reintroduction of the deutsche mark and therefore the consequent collapse of the euro in value that's going to be the way which they get out all these debts in the periphery european nations ladies and gentlemen entering the heavyweight ring the door of chilmark in the currency battle of the century it's got everything huge export market low unemployment they've got fantastic benefits for all of the surplus and their unemployment benefits and their health benefits the surplus she says i would expect a major unscheduled speech from the president of germany once it is decided to

leave the euro you can expect a european bank holiday and then the devaluations will happen across europe across the euro zone those that remain in the euro and you're going to see therefore huge inflation therefore all of the money all of the new liquidity is going to go into gold diamonds agricultural assets energy prices and mind asset prices will rise default will reduce the debt burden and allows growth and inflation to return. now of course this is against the what others have said jim jim rickards who we've talked about believes there's going to be returned to some sort of gold standard jim rogers who she also mentions in her her and alice says jim rogers thinks the euro will survive and be stronger than the u.s. dollar this is not what she sings well the record. idea of return to the. gold standard is still in play under this mark reintroduction because the other

countries will have to respond because this is a currency war the other countries are simply not going to beg and salute the dortch market and everyone's going to reference the dutch mark there's going to be a mad scramble and ultimately the records and the game is still in play this is just another chapter toward that end of play were everyone eventually decides that look let's stop world war three the currency war let's go back to gold another point she refers to max is this headline here from september ninth trish a loses his cool at prospect of deutsche marks revival in germany so this is from bloomberg september ninth as i said trish a sixty eight lost his cool yesterday with a reporter who asked whether germany should abandon the euro and return to the market he said quote i would like very much to hear the congratulations for an institution which has delivered price stability in germany for almost thirteen years he said and in one character realistically raised voice it's not by chance we

have delivered price stability he said we do our job it's not an easy job notice he didn't say no. you have to read between the lines things to remember this is a fantastic story that you are breaking for international audience truly remarkable reporting i'm gobsmacked. well in fact this is philip among she's the daughter by the way i looked up because i want to make sure she wasn't a yes woman you know you never know these days everybody is a hoax she's the daughter of harold mom grand who was a well known trade negotiator who served in the ministrations of john f. kennedy lyndon b. johnson richard nixon and gerald ford and when i looked him up i also found that he's been in the news about another european wide issue arising in the very same week these last few weeks and that's the tobin tax now all the governments of europe are now agreed that they want to tobin tax which is a tax on financial transactions the only one outside of this is the u.k.

of course because they have the city of london and they don't want to financial transaction tax well from september twenty seventh her father harold mount was quoted in the f.t. in an article titled long term investors would benefit from tobin tax and harold mongery first of the fact that so much trading is now high frequency trading and so long term investors are disadvantaged he says because he argues that big financial institutions that operate h f t platforms try to buoy up flagging markets by well timed surge of buying of exchange traded funds triggering automatic buy responses from algorithmic trading models across the market if true this must create an upward market bias that will over time skew asset values well there's. a bias is triggered by a program trading in stock waters and so stop orders and bust up water cascading of

orders and quote stuffing and all the stuff could be minimised with the introduction of a told and tax of tax on trent. actions of fear on all transactions and let me tell you something stacey herbert as a former broker on wall street myself i can tell you that if they imposed a transaction fee and all these transactions and never told any broker any banker they would never notice but it's completely a non issue you know it reminds me of this club i go to in london the groucho club i've been going there for years and i've looked at this little card of a table and i've never read that card suddenly last year for the first time in years i read that card it said that every single meal i eat there they add one pound of tax or surcharge that they used to feed the poor i never noticed that surcharge in years and years and years the same thing with every trader and banker in the world if you give them a tobin tax transaction fee and never tell them about it they'll never notice well

and the reason why i frequency trading what they do is they trick pension funds big giant funds that manage our money and the little guys money they trick them into buying basically at an inflated price so i want to have this one final headline here max class war fifty two percent say us isn't divided economically poll finds so this is the pew research center for the people and press and the washington post and they did a poll where they found that just under half forty eight percent of americans said that if they were forced to choose they would call themselves among the haves while only thirty four percent said they are among the have nots while this is exactly what you find in the bowery or in the gutter of any major city you know the people who are living in the street in the gutter alcoholics gamble to generates they really believe that they're getting over on the system and this is the average american there degenerate the their alcoholic they are they have no health care

they're living in the street like bombs so when he talks about it they're like yeah america great. well i don't believe that they're living like bums i think they're living on debt and they don't understand that that system is ending and we've just covered this if the deutsche mark is introduced the euro collapses the dollar the there's going to be chaos and the whole system where they can think that they're part of the haves just because they have a credit card on which they could put their health care i wish they could put their bar tab i wish they could put these issues that you know they think they're living like grand life because they're able to afford a car they think they are able to afford health care they think they're able to afford a house they think but in fact it's just on a credit card that based on a currency system that is about to collapse point taken care of thanks so much for being on the kaiser report thank you max that's going to do it for this to happen stay there because we've got much more coming your way.

that. really do you believe there's something missing. from. the future for. this is. pretty free. range from three. three. three. three blocks to mediocre for your media project a free media r.t. dot com. i welcome back to the kaiser report imax guys are time now to go to london talk with steve wall city spokesman for the u.k. independence party steve walsh welcome to the kaiser report thank you max and thank

you for inviting me to the show and i'm really looking forward to being on all right steve all of your party you kept is calling for greece to return to the drachma talk about this well greece has to return to the drachma max because it's in their best interest it's in the interest of their people and it's also all family in the interests of the european union and its people they're suffering at the moment as we know we have levels of unemployment for the youth around eighteen nineteen percent there's millions of people on cloyd throughout the country there's lots of people losing their businesses there is a real sense that the stereotype that the greeks are giving to them and he's actually hurting badly and the reason that it's hurting and having no effects for a positive future for them is because the traps within the economic prison of the european union if they were able to escape the arms of the road so when the commissioners who want to keep hold of them and their assets they will be able to take control of their economic leavers and help themselves get out of this debt

crisis ok stave off let's talk about the ripple effect sierra because the the folks who are not against the haircut or the right are for the return of the drachma of course are saying that the bond market would collapse the greek banks have collapsed ripple effect throughout the year as. well. you say this i think there would be some dark times ahead for europe if either way if we don't take and allow greece to escape from this economic prison then we'll see a long period of time where the european people have to pay for this massive debt and we can talk about the f.s.f. and it's extended i'm sure we'll go into that in greater detail but if we do allow them there would certainly be some form of ripple effect with that necessarily be as bad as the doomsayers of christine legarde in the i.m.f. and the european union i'm not so sure it was what we're doing is when we're hearing them say europe will collapse into a mess they are trying to scare us into not doing something that we should be allowing greece to do which is give them their freedom there's no doubt and i'm

sure you hear this all the time on the peronist ashton and her team of diplomats are wandering around washington threatening that if the bailouts don't occur then we will have nineteen thirty style unemployment and recession throughout europe will be doomed to be gloom of the rise of the far right doctor i don't believe will happen this is them trying to protect their jobs and that and they're also trying to protect this creation of a country called the united states of europe the ripple effect over there don't believe it to be as bad as they are trying to paint out steve all ten people point to iceland and say that well you know they basically defaulted they took their medicine two years later they're now growing how is that an accurate comparison and if so why aren't more people making an issue of this and making that comparison that is a perfect example as is also looking back to the days of argentina and brazil when they defaulted as well they were given the opportunity to take hold of their economic leaders and let's look at the positive things that could happen for greece

we know that they're invested on a debt crisis with their bonds if they were able to say we're out of sight at the european union they could take hold of their interest rates they could look at their currency they could take haircuts on the bonds of sixty maybe even seventy percent they could devalue their currency at thirty. and so some leeway to fifty percent this would encourage other businesses to come to greece certainly would encourage those who were tourists from the u.k. going to greece if you've ever seen the prices in the holiday resorts in greece at the moment but also look at the very important positive factors of the greece economy greece's assets and some of those assets that aren't coming out into the public domain although oil and gas reserves we have received reports that only a few years ago seven scandinavian companies were offering around two hundred fifty billion for the for the for the gas assets that are out so it creates etc those are assets that could be used to help greece in the future rebuild its country but only if greece was able to get hold of its own economic powers it can do it whilst it's

trapped within the european union let's talk about the u.k. for a second because the u.k. did not join the euro and people are saying that they're insulated from the euro crisis however the banks in the u.k. own much of this toxic debt from continental europe and so one of the ripple effects and how do they get into the u.k. and what is david cameron doing about it if anything is he telling the people in britain accurately what's going on here david cameron certainly isn't giving the people of britain the truth about the indebtedness that britain is connected to the european union. when you looking at this bailout we are having to come billions into the i.m.f. to support this this is money that could be used to help the banks that would have to face some of the detrimental effects of greece greece defaulting we could use them to shore up the capital and increase that say one requirements of those banks

in addition by being a member of the european union we spend around fifty five million pounds a day to the european union front money could also be repatriated back to preserve the economy of the united kingdom won't so we're going through the bad times david cameron doesn't want to let the public know that we are contributing to these bailouts through the scope of the means such as the i.m.f. and he doesn't want us to know the true facts of what would happen if greece was to bail out all the opportunities for greece because to do so would in danger of this project of being in the european union think the crisis is unwinding in real time and leaders appear to be paralyzed every talking shop leads to another talking shop they seem to their policy seems to just let this train wreck happen and then pick up the pieces afterward there is no proactive policy whatsoever and i'm sure that the pivotal country here is germany. let me ask you

about germany for a second because on one hand they have benefited by the cheap euro in terms of their export market and it's the first or second biggest exporter in the world on the other hand if there's a huge consolidation you know a collapse that all the most likely be run through girl a and they so they really are playing two sides of the the aisle here is germany how do you see because germany in all of this as the kind of hapless bystander to a calamity that no one saw coming or are they more behind the scenes orchestrating something here well i'm not sure that we could be safely certain that anyone's orchestrating this behind i mean i think you have to turn around to go to horst koehler who was the foreman. finance minister in one thousand nine hundred two when he said that the southern countries would not be bailed out by the northern countries this is not what the euro was about but actually that is what the people of germany believed they never believed that their home would work all the taxes would be used to bail out any country that allowed themselves to get into subsist on children but they didn't also believe that we were going to have

a country called the united states of europe so what you're seeing in germany is the realisation that for many of them like many of us in the united kingdom in the rest of europe have been fooled by a political class who have one agenda and if you take some of the polls that happened over the weekend as we as you could have read and seen or been published forty eight a sense of germans now would start supporting the euro skeptic party i.e. one of those that believe they should get out of the european union but you have to watch yourself why are they doing that they don't want to see the danger of the bailouts affecting their country they don't want to see their lifestyles affected in the same way they know that if they can't put if they put debt upon debts to build more debts which is effectively what this new bailouts from the f.s.f. is it's a country if scheme it's a large ponzi scheme of debt derivatives they don't want to be part of that because they know ultimately it will be germany that is on the line their lives are on the

line and their businesses and unemployment could rise and they've seen it before they don't want it to happen again are you talking about this ponzi scheme and of course the global center of the financial party scheme is london they've got the weakest regulatory environment the most hedge funds the most corrupt bankers and they're the wiser who are really making a market in fraud most prominently throughout the world and they have a stake in perpetuating this global ponzi scheme and fraud otherwise the entire study of london goes away more or less they go back to being a utility bank making simple loans and no more flashy christmas bonuses or champagne parties anymore is. david cameron basically just completely in the pocket of the bank staff at this point and there's no hope for any accountability at all the city of london well i don't think that very becoming can be seen to be a supporter of the banks in the united kingdom or indeed the financial services industry as a whole but publisher is going or second because during the recent looting episodes

in the u.k. cameron's out there castigating the looters well at the same time he is painting and aggrandizing all of the looting bankers he seems to be talking out of both sides of his mouth i mean either he believes in looting as a business model for his country or he's against looting yes to pick one of the other ukip i would imagine has a position of what ukip position. well you could position on the financial services in industry in the u.k. it's very clear we must support one of our most important industries well is let's get some some facts on this not everybody in the financial services industry in the united kingdom all the rich bankers there are one point one million people employed in this industry in places like chester and leeds in edinburgh going down to cardiff these people are not earning the million pounds a year they're actually earnings say for salaries of around twenty to twenty five thousand people pounds these are the people they're going to get affected when europe introduces a financial transaction tax we don't think about them what happens here in the u.k.

is we focus on ourselves and about a thousand to two thousand seriously wealthy people many of them employed by banks some of them who have indeed done bad things if we look at you know the extent of the o.b.s. for example but that can't be applied to the whole of the industry as a whole so you could be supporting them whilst at the same time we don't support those who could mean blatant fraud who go out and commit serious crime and that's why when you look at the offenses that were occurred by the looters in the streets around the around the country you can't allow that sort of looting to happen without it with the purposes that they were intended it wasn't about a political statement they were simply out to try and steal from shows or immoral or are poorly or give the banking license and am working on a sax or barclays or a just b. c. and both the g.d.p. and the u.k. but it's a country called our banking fraud but let me tell you a tweet i got from the backscatter twitter account this is from mr canning who asks where does steve see sterling going as the bank of england with more quantitative

easing while the euro hopefully takes possibly takes a nosedive so how does the bank of england's quantitative easing program affect the pound going forward as you see it well i think really what's going to happen is more not necessarily what quantity of easing goes to the pound it's really what's going to happen in the united states the dollar i suspect the. whatever quantity of easing that we try and do in the united kingdom isn't really going to have a great effect we will see the potential of inflationary suze going down in the future and we must be deeply concerned about that but really we're caught between a was so it's is really what's going to be coming out of the united states and what's happening in europe we're trying our best but we're still caught within this economic trap and this danger that faces us from europe. right steve all that's all the time we have thanks so much for being on the kaiser report has been my pleasure thank you very much and that's going to do it for this edition of the prize a report with me max keiser and stacy herbert our thank my guest steve wolf if you

want to send me an e-mail please do so at kaiser report it r t t v are you it's all next on this is max as are saying by our. own home.

all.