comes out of its biggest journals trying to get as much as it ready to see an audience unconscious with it can be found right now we're bringing you live pictures from central athens where protesters out golly to turn out in full so again live pictures from. the police are getting up in the sunset with confidence taking the final vote and more pieces of cards to try and set as a record debt. poso in the u.s. and you've got this protesters out there winning on a constant bloom as they were is why don't you go on wall street rallies are into that this week slamming banks in washington for sharing the money and leaving people to fund for themselves but. also we'll see at the story itself one of the inch relations that's very with the russian rockets taking up for the western nation for the first time is still uses carrying multibillion dollar equipment or they've got a video system which is europe's arms that america's two gets. well gets into debts our banks make is do something about paying it off quickly up next the country

report one does why europe's leaders are still scratching their heads its priorities. max times are this is the kaiser report having noticed that with each show for the kaiser report the occupy the world movement gets stronger and stronger so after we started it it keeps getting stronger and stronger and it's heading into more and more countries in as many countries as the show is ya get it when is the folks at fox like hannity and bootlickers one of they going to recognize myself as the driving force of their demise probably they won't and so they get hit by a truck and i don't mean that figure of the ok so here are max keiser yes the

occupy the world movement is gaining traction and i have some images to prove here some occupy amsterdam this is not some stacy kaiser dot com this is a guy at occupy amsterdam next image from occupy london stock exchange hey max well assets and a crass taken morning by silver guy jim rogers let the banks fail he's quoted as saying what they are doing in europe is saving the day not saving the system just pumping up and bailing out another bank is not the solution we need to let the banks fail yes we need to let the banks fail now the banks are going to fail but that's not in dispute because the amount of debt so they have on their balance sheet mostly disclosed on off balance sheets special purpose entities accounts and other ways to hide the debt it is much bigger than any money pumping campaign can possibly prevent from collapsing this is so they're going to be

a collapse anyway the only question is is going to be orderly or is going to be chaos well i maintain. that they're not letting the banks fail as an act of war it's a financial war and you can see that in the headline i have here max the global debt clock now if you notice this map this is from the economist the number scrolling across the top adding up adding up that's them amount of public debt this is debt that is being transferred from the banks to the population notice all the nations in red. those are the ones with the most debt the most public debt notice however also that those are the financial services a condom e s. america the u.k. france these countries japan know what it was about forty trillion but that number correctly global that yes it was adding up so fast as we sit here talking well enough about of course to go up the total derivatives exposure is a six hundred trillion so more than ten times that number and there's no

counterparty protections of that not so for example j.p. morgan has ninety trillion in derivatives risk of there's no counterparty safety for that at all but companies are dead bank walking will look at the top banks in europe who are bankrupt and are dead banks walking they're sucking the life blood the life force out of europe with their financial war i remember the last time when europe had such austerity measures it was world war two so if you think we're not in a financial war then look at this credit suisse barry's european banks sees deutsche bank and sixty five other banks failing latest stress test forty billion euros capital short far so according to credit suisse in our estimation of what could be the new e.p.a. which is the european banking authority stress test there would be sixty six failures with r.b.s. deutsche bank and b.n.p. needing the most capital at nineteen billion euros fourteen billion euros and fourteen billion respectively among the banks with the highest capital shortfalls

stopped and barclays would need roughly thirteen billion the european banks are going to go completely belly up this is a foregone conclusion there's nothing that can possibly stop well look at those banks they mention their max r.b.s. deutsche bank b.m.p. soc gen barclays what do those five banks have in common huge balance already and a huge bailouts from the us taxpayer but also what do they create and spin and thrust upon taxpayers around the world driven derivatives those are the biggest derivative wielders in the world there isn't a direct relation. ship between how much these too big to fail require and how much fraud they perpetrate upon the nations of the world so if your city is bombed by a blitzkrieg and you end up having food rations for your city is destroyed from a financial blitzkrieg and you end up eating food as rations is there a big difference there one they use these stealth financial weapons of mass destruction one they use the traditional blitzkrieg bomb weapons of mass

destruction but you're still there eating beans out of a can for a family of twelve and the other thing that happens in a war of course is the loss of sovereignty so let's look at the solution from the outgoing e.c.b. chairman drunk. e.u. treaty change needed to impose decisions on states so the outgoing head of the european central bank has called for a change the european union treaty to allow for the outside imposition of economic policy on a member state he said it is necessary to change the treaty to prevent one member state from straying and creating problems for all the others to do this one needs to be able to impose decisions just impose dictatorial authority from a top down european wide bureaucracy run by weapons of mass financial wielding germans. so when will the penny drop that's the next headline from david

buik williams he's down in dubai many sitting there in a luxury hotel lobby and what he notices are senior executives from french banks with begging bowl walking around asking any arab that walks by any shake money money please so he's likening europe to the argentine of the last time oil prices were this high and all those excess reserves from the arab nations went into basically. fraudulent loans to argentina and latin america and now this time all that money went into europe because of course this is where the housing bubbles were very prominent well i think the point is to be made by the history of bank fraud and bailouts going back twenty or thirty years including the argentinean bailout other sovereign debt crises cizik cetera with each crisis

needs catastrophe savings and loan crisis in the united states the lesson has always been how do we change the laws to make it easier for the banks to rip people off without getting any kind of penalty so that was the big lesson from argentina in the savings and loan crisis was a couple of guys went to jail a couple of guys lost some money who are on the inside so they change laws thanks to the complicity of guys like bill clinton and george w. bush who just kind of write the laws that the bankers tell them to write and this gives them immunity that's why this banking catastrophe has become so punishes is that the bankers have become this multi-headed hydra cancer is tumor that's just as you say sucking the life blood out of the global economy so it requires almost a superhero to appear with a silver bullet or something magical too because right now nobody is standing up to the bank not barack obama god no but there is nobody in the world stage if any

power who's standing up to this tumor is cancer yeah but that's because they operate the world's military and how did the price of oil well quadruple over a seven year period that was because of the war against iraq in on that we have to bankers and the other major monopoly corporations now when you and i traveled to the persian gulf in two thousand and five two thousand and six. we were surprised at the love expressed for americans why were they so happy because of the price of oil they directly all over a cutter all over dubai all over i'll be we were told that they credit the american military machine for making them so rich because of the price of oil yeah they love a lot of americans there i mean the whole mythology in the us is that they hate us now referring to arab extremists but when you go to an arab country they're like come on baby have a cigar have

a drink thanks them also ronnie all bankers whole dismissed that great financial crises. are rescued by war so well that was the panic of eight hundred fifty seven followed by the civil war which bailed out the banking system world war two bailed out the world from the great depression so let's look at this next war i mean iraq wasn't enough afghanistan's not enough young son of somalia is not enough pakistan's not enough now or in uganda that's apparently not enough revealed fox's best man and his ties to iran's opposition now liam fox the defense secretary that stepped down was forced to step down from great britain his mistress this guy adam where it turns out has been involved in an audacious plot to topple a regime president mahmoud on media shy so the self-styled advisor to mr fox has visited around several occasions and met iranian opposition groups in washington and london over the past few years he's so highly regarded by israeli intelligence

service mossad who thought he was mr fox's chief of staff that he was able to arrange meetings at the highest levels of the israeli government so he's also connected to the neo cons of america who of course tried to overthrow bill clinton because he had a mistress well monica lewinsky wasn't going around the world trying to stoke wars with other nations is a war. is a war or of course that's the song they're singing now. this is the song that is getting all the war whores united on the same page the clintons the obama's the cheney's the halliburton's the princes you know they're singing all joyn to get her the war horrors because you know intelligent enough to get real jobs. let me explain something to you of war you see there's a huge debt bubble in the world so easy. and there's two choices here the dead ball

ball is is cutting into purchasing power essentially what it's doing to everyone's feet and currency per person power is being eroded because to deal with the debt bubble all these governments are printing money willy nilly it is cutting into people's purchasing power well it's driving costs higher so it's kind of a cost pull form of inflation instead of a demand push but we'll get to that another time the point being that prices are going higher for stuff like food and energy and it's purchasing power as a road and now there's two ways that you can get rid of this problem increasing purchasing power i do you look at bonds collapse and therefore let the banks collapse or you kill a lot of people. therefore eliminating demand for the free up money that is causing the inflation this is what war is great for look for example the us they killed a million iraqis that's a million less people that are going to have to be recipients of figure out money us bombs around they kill million iranians and they kill another fifty sixty

thousand americans they don't care as long as they get rid of the demand for free our money that will help the top one percent not lose any purchasing power so the humans become the fodder so they have to decide whether they want to let the bonds crash or to kill millions of people and tens of thousands one hundred thousand american servicemen and what does obama thank you right now let's kill more american servicemen for the sake of recovery it was a murder and i mean this is the future blow beyond of peter paul this is like their article wrote britain is the leading edge of the financial war and the wars they they lead the charge we would not have gone into iraq without tony blair if he were not the one selling it we would not have happened if it weren't for liam fox and his mistress then we would not be going into iran so you know that's that's the truth there and the other thing is these occupy wall street will be shut down immediately if we do go to war against iran because that you're not allowed to sent in a war well remember i want to stop the opposition movement to seattle was that akaka

made up nonsense of nine eleven ok say sarah thanks so much for being on the kaiser report thank you so don't go away much more coming away so stay right there. in a. new hero in russia european space partnership to. the future of the european satellite navigation system. on the doors to the world's most reliable space vehicle the. soyuz rocket is gearing up for the first ever blastoff from a foreign face. the lives marked launch. life on. its .

i welcome back to the kaiser report i'm max kaiser time now to go to savannah georgia and talk with artist media historian and critical theorist michael betancourt michael talking back to the kaiser report hi there it's nice to be back in iraq michael we spoke to you a few months ago about ag no to logic capitalism for those that missed that episode tell us what that is well it's the idea that we're currently living in a primarily just little capitalism that is to say additional dominated capitalism where instead of everything being based around what we know we're actually living in a society where capitalism functions primarily because instead of having a clear knowledge of things that are going on it functions because we do not have this knowledge it functions through the creation of systematic ignorance and

systematically no means ok so when somebody like michael moore for example goes down to the occupy wall street movement and he says we're anti-capitalist he's referring to something that really doesn't exist anymore right well yes and no i think by capitalists he means a small section of the current population who primarily profits through financial zation. i don't think you necessarily opposed to capitalism per se but i think he is probably opposed to what we think of as the contemporary music information based capitalism we have to logical capitalism the mike about heart and they are. the logical capitalism relies on ten marines and you've got an uprising around the world from people kind of flowing into this digital space isn't that a huge risk right there yes it is and he's playing that what this potentially means and this is potentially mind you it's potentially a fundamental challenge to the system some of the occupy wall street protesters are

demanding a tax on transactions before and by also your own trades that would basically bring into high frequency trading in an instant these kinds of directly targeted impacts have the potential to undermine the i mean it's a logic basis of all of this but to a certain extent i think we can also say that this uprising this objection is happening because the are not a logical only works so long as it can p p p its population utterly distracted into irrelevancies into arguments over things that really don't have any impact or over issues of lifestyle or issues of personal choice oh that while arguing for my freedom is being abridged by somebody else's freedom so we need to do we need to do something about that these kinds of internal contradictions we saw in the tea party movement last year the year before and now some of these same concerns are

appearing with an utterly different demographic group much larger much more inclusive than the predominantly elderly the party so yes this does pose a very serious challenge to the current organization of the world to the current financial situation and definitely here i guess a logical capitalism. because this movement has the potential to undermine the foundations of it however and this is the important however just like the tea party this kind of movement is readily subject to diversion into other issues and much of the coverage that it's been receiving is at least partially focused on these diversions the portrayal of how the various people are shown the particular individuals being interviewed for other television programs on all of these issues are ways of diverting it so you portray them as

a revitalised group from fifty years ago the hippies who only want to spend their time being stoned and having sex certainly you're going to be able to create a certain amount of misinformation about this the difference is that this particular moment in time the same thing that enabled the arab spring is enabling the occupy wall street and it's the presence of nature of the internet as a communication system. literally bypassing what's covered in television bits covered in our main news. and so we have these alternatives starting to emerge that challenge this is your money order so the occupy wall street movement is just echoing what's been going on building out around the world now we've got a complete global insurrection at which i think is really the first time in history we've had a global insurrection coordinated certainly through digital means but you're saying those digital means the facebook the twitter and the twins at the twitter twitter

a sphere is it fits into your model where it eliminates dissent right and i correct well it works just story full to sit through a process and you can see this really in how the various pieces of information are being presented about these organized protests but you can also see in how other kinds of information are presented global warming the hazards of cigarettes take your pick it doesn't really matter any of these large social issues that are controversial you can find an element of this happening it's the idea that is good of having a clear knowledge of what's going on you get an alternative presented using the exact same methods by which we normally are writing knowledge and the result of doing this of course obviously is that you can't evaluate what's being presented as factual or not factual because you don't necessarily know how they're making the

judgments because that information is being withheld very often in a world of fear that money waits is in its own right propaganda it tries to create a symbol a symbolic reference to something that people think is money but it's actually not money doll it's an illusion and now we have a new chapter in if you have money symbolic of historical record in high frequency trading and seventy percent of all the trades in new york stock exchange are training in this nonsensical nonrepresentational propaganda idiocracy so you contend that the road to high frequency trading actually started over one hundred years ago so give us the one hundred years wait there well i think it's more than one hundred years but the idea and this is actually part of my new research that i'm working on. the idea that high frequency trading is based upon a sampling a you just a symbol something then you take pieces of it and you put it back together in some

new fashion according to some new set of rules this is cool to me osis when we do this we have this symbiotic reproduction the origins for this are very very old it is part of how language works which is why it's called scenarios this is part of how all of our technology works it's part of how computers work with high frequency trading what's happened is there's an escalation and a speed that we do not have with other kinds of reassembly other kinds of reproduction. and so with this what we get is a complete dissolution of objects their virtualization and then the manipulation of those virtualization without a new reference or concern for physical basis that. money has gone undergone this process of something else is as you describe it the digitization the securitization the fracturing of anything that had any reference to value and that is stuff has

become this game of trading and this is great if you're a bank that makes money by how much of this junk you can force through the system but in the end it steals jobs it destroys the economy and it creates poppers and beggars and in america anyway you've got the new peasant class so people who again were referencing this occupy wall street movement the complaints from the one percent the people who push the fake money around they suggest that the folks that who are complaining to get a job. but between outsourcing and automation there are no jobs that is the whole idea of a job in america is that kind of finished now it's just going to be peasants from here on going forward are always very careful about making claims about what the future's going to hold what i am reasonably certain about is that these ideas that

oh you just need to go get a job there's all these jobs if you're not rich it's your own fault which i've heard many including several would be political candidates. so this is just false it just straight start to finish this is just not realistic it's an ideology in the nineteenth century is called a protestant work ethic very few work urge you will be successful and rich to congress of course is if you're not successful and rich this proves that you're not working hard enough and god hates you and so this is why it was called the protestant work ethic and we're seeing this play out in comments like herman cain's just go get a job if you're not rich it's your fault well that's not true and that ignores all of the structural and systematic barriers that prevent people from even being able to get these jobs thought yeah i mean i remember when i was working on wall street the model there is outright fraud market manipulation and cider trading and

a management on a weekly basis would lay out that waits for that week's ponzi scheme that week stock market scam and the salesman had to buy into that scam for the way and that's the business model of wall street now at some point some people drop out because they simply don't lot of participate in a system where the business model underlying is fraud deception and wealth confiscations are finding out with banks like bank of new york now stole three hundred billion dollars through a front running scam or wells fargo and walk obvious to all four hundred billion dollars the money laundering scam people drop out of that they say you know what maybe i don't want to be like herman cain says yes obviously he supports larceny he supports thievery he supports my argument if you listen he probably would support a program of some sort or mass incineration of a population who knows but if you don't want to be a part of the incineration of people which is what wall street ultimately is about the jobs available are just not there are they you know they are and it's actually

worse than in some ways than what you're describing because we know it or are at a point where digital technology is powerful no if it's mature you're actually in terms of it's not just its technical capacity but its ability to. perform tasks that we would normally think of as human as requiring a human act or human agency to perform and so with these developments what we see are things called expert systems and they are those once you've trained one of these machines it takes away the jobs from countless other real human beings because suddenly the task that would require say a c.p.a. you can get right down loading turbo tax for example and an older people who spend decades in school learning advanced degrees learning highly skilled trades or professions so they are out of jobs that's the next phase that's coming yeah i have

to act interrupt there because tim geithner the treasury secretary even using turbo tax matters to somehow not pay some of his taxes so he needs a special helper to help ham figure out how to work for the tax so there is a job where there is one job at least for the minor of timothy geithner well michael ben hard as always fascinating we've run out of time but banks for being on the cars a report thank you i appreciate coming i'm always enjoy talking to you max ok that's all the time we have for the cause report with me max kaiser and stacey herbert our thank my guest michael betancourt his twitter address is sent a graphic c i and he graphic gonna send me an email please do so at kaiser report at r t t v that are you and so next on this is max has are saying.

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