but for moscow this is r.t. our top stories this hour nato peacekeepers reportedly fired tear gas at ethnic serbs of the disputed border of northern cost of the troops to dismantle it with barricades set up by locals are they fail to do it themselves developments in libya this hour libya's new leaders say colonel gadhafi has been captured and wounded in both legs know these unconfirmed reports come after fighters apparently took good duffy's home town of sirte after weeks of protected violence thousands of civilians have been trapped in the crossfire with a new regime regarding it as the last symbolic step to their victory. and greases into the second day of its biggest general strike in years and which is already seen violence in clashes with riot police protesters are promising another show of might outside parliament where lawmakers will later take a final vote on more punitive cuts to save its record debt. so b.

which when we all get into debt our banks make us do something about it very quickly to pay off the trouble next though the kaiser report wonders why europe's leaders are still scratching their heads and surprise. i'm max kaiser this is the kaiser report i mean noticed that with each show of the kaiser report the occupy the world movement is 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 to be. 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 nothing of the ok stay here or max keiser yes the occupy the world movement is gaining traction and i have some images to prove here some occupy amsterdam this is max and so you see max keiser dot com this is a guy at occupy amsterdam next to miss from occupy london stock exchange hey max well at sex and crass j.p. morgan by silver guy jim rogers let the banks fail he's quoted as saying what they're 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 not the banks are going to fail that's not in dispute because the amount of debts that they have on their balance sheet mostly non disclosed on off balance sheets special purpose entity accounts and other ways to hide the debt it is much bigger than any money money pumping campaign can

possibly prevent from collapsing it's 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 the 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 con to me is america the u.k. france these countries japan what was about forty trillion of that number correctly global bit yes it was adding up so fast as we're sitting here talking about of

course the doe the total derivatives exposure is six hundred trillion so more than ten times that number and there's no counterparty protections of that not like for example j.p. morgan has ninety trillion in derivatives risk of there's no counterparty safety for that at all that company is a dead bank walking 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 and you remember the last time a europe had such austerity measures was world war two so if you think we're not in a financial work and look at this credit suisse barrys european banks sees deutsche bank and sixty five other banks failing latest stress test forty billion euros capital shortfall so according to its credit suisse in our estimation of what could be the new e.b.a.y. 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 one thousand billion euros fourteen billion euros and fourteen billion respectively among the banks with the highest capital shortfalls soc gen and barclays would need roughly thirteen billion the european banks are going to go completely belly up this is a foregone conclusion as nothing that can possibly stop it will look at those banks they mention there max r.b.s. deutsche bank the m.p.c. soc gen barclays which of those five banks have in common. it's already a huge bailout from the us taxpayer but also what do they create and spin and thrust upon taxpayers around the world driven up there it is 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 or 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 let's create bombardments 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.v. chairman. 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 yes impose dictatorial authority from a top down european wide bureaucracy run by weapons of mass financial wielding

germans. so when will the penny drops that's the next headline from david mcwilliams he's down in dubai any 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 argentina of the last time 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 house and bubbles were very prominent but i think the point needs to be made that 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 there needs to task for free savings and loan crisis of the united states the lesson as 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 were on the inside so they change laws thanks to the complicity of guys like you know clinton and george w. bush who just kind of write the laws that the bankers tell them to write and this gives them immunity best live as banking catastrophe has become so permission is that the bankers have become this multi-headed hydra cancerous 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 you have what if any power who is standing up to those tumors cancer yeah but that's because they operate the world's military and how did the price of oil what quadruple over a seven year period that was because of the war against iraq in on behalf of bankers and 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'd credit the american military machine for making them so rich because of the price of oil they love they love americans there i mean the whole mythology in the us is that they hate us i'm referring to arab extremists and when you go to an arab country you're

like come on baby have a cigar have a drink thanks for 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 yemen 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 to step down was forced to step down from great britain his mistress this guy. it turns out has been involved in an audacious plot to topple arraigning president mahmoud on media shot so the self-styled advisor to mr fox is visited around with

several occasions i've met iranian opposition groups in washington and london over the past few years he is 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 in america who of course try 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 whore. is a war whore 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 saying all joined together the war horrors because we

didn't know if the get real job. let me explain something to you about war there's a huge debt bubble in the world sixty. and there's two choices that the bible is is cutting into purchasing power especially what it's doing to everyone she had currency their purchasing power is being eroded because you 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 form of inflation and set 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 either you let the bonds collapse and therefore let the banks collapse or you kill a lot of people. therefore a limb an aging demand for the feet of money that is causing the inflation this is what war is great for what 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 bombs crash or to kill millions of people and tens of thousands one hundred thousand american service men and what is a bomb of thinking right now let's kill more americans servicemen for the sake of recovery it was a murdering fog i mean this is impeachable beyond impeachable this is like heroin the cold well 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 actual opposition movement in seattle was a cock that made up nonsense of nine eleven ok say sarah thanks so much for being on the kaiser report i keep it don't go away much more coming why stay right there . it's a lifelong dream for many many. months brave real loon is not enough to steer the ship. only. endure a. genuine love to the mother lands history or require. people who

revive the engine craft are sailing through the centuries on archie. i welcome back to the kaiser report i'm max kaiser on how to go to savannah georgia and talk with artist media historian and critical theorist michael betancourt michael welcome back to the kaiser report hi there it's nice to be back all right michael we spoke to you a few months ago about agnello to logic capitalism for those that missed that episode gristly tell us what that is well it's the idea that we're currently living in a primarily digital capitalism that is to say a digital 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 systematic own notions ok so run somebody like michael moore for example all 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 profit through financialization. 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 information based capitalism we are going to logical capitalism so much about in part they have to as a logical capitalism relies on and you've got an uprising around the world from people kind of flowing into this digital space and isn't that a huge risk right there yes it is going to explain that what this potentially means and this is potential mind you it's potentially an 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 an end to high frequency trading in an instant these kinds of directly targeted impacts have the potential to undermine the arguments a logical 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 logical only works so long as it can peak people's 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 the while arguing for my freedom is being abridged by somebody else's freedom so we need to do region 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 the same concerns are appearing with an utterly different demographic group much larger much more inclusive than the predominantly elderly tea 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 presidential nature of the internet as a communication system. literally bypassing what's covered in television with coverage in our main news. and so we have these alternatives starting to emerge to challenge this as you monitor right now the occupy wall street movement is just echoing what's been going on building up around the world now we've got a complete global insurrection which i think is really the first time in history we've had a global insurrection coordinated certainly through digital means what you're

saying those digital means the facebook the twitter and the the twitter us here is it fits into your model where it eliminates dissent right and i correct well it works to start 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 if the idea of 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 write it knowledge and the result of doing this of course obviously is that you can't evaluate what's being presented just factually not factual because you don't necessarily know how they're making the

judgments because that information is being with hill very often in a world of feel that money which 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 a few at money symbolic of historical record and high frequency trading and seventy percent of all the trade in new york stock exchange are trading in this nonsensical nonrepresentational propaganda idiocracy so you contend that the road to high frequency trading actually started over one hundred years ago 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 disassemble something then you kc pieces of it and you put it back together

in some new fashion according to some new set of rules this is call to me osis when we do this we have this symbiotic reproduction the origins of this are very very old it is part of how language works which is why it's called seriousness it's 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 any 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 stop as become the scheme 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 paupers 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 all i do have a job in america is that kind of finish now is just going to be passed on 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 soul should just straight start to finish this is just not realistic it's an ideology in the nineteenth century was called the protestant work ethic where if you work urge you will be successful and rich the converse 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 that ignores oh the structural and systematic barriers that prevent people from even being able to get these chips thought i mean i remember when i was working on wall street the model

there is outright fraud market manipulation and cider trading and the management on a weekly basis would lay out that week's fraud 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 want to participate in a system where the business model underlying is fraud deception and wealth confiscations we're finding out with banks like bank of new york now still three hundred billion dollars through a front running scam or wells fargo and walk obvious to all four hundred billion dollars through a money laundering scam people drop out of that they say you know what maybe i don't want to be like herman cain's i guess obviously he supports larceny he supports thievery he supports my argument if you listen he probably would support 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 there and it's actually worse than in some ways than what you're describing because we've noted 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 it's 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 development what we see are things called expert systems. and 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 my downloading turbo tax for example and then all of the people who spent 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 for about tax matters is somehow not paying some of his taxes so he needs a special helper to help them figure out how to work there about tax so there is a job where there is one job at least this for the mind or of timothy geithner well michael ben current as always fascinating we've run out of time but banks for being on the cause a report thank you i appreciate coming from always enjoyed talking to you max ok and that's all the time we have for the kaiser report with me max kaiser and stacy herbert i want to thank my guest michael betancourt his twitter address is sena graphic c i and e. graphic i want to send me an e-mail please do so at kaiser report at our t.v. that are you and all next on this is max has are saying. we're going to.

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