you know sometimes you see a story and it seems so horrible you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought you don't know i'm sorry welcome to the big picture. of the. renewed the latest in science and technology from around the world. we've gone to the future coverage. on. morning news today violence is once again flared up the phone and these are the images the world has been seeing from the streets of canada

. trying to hope for a show to rule the day. good luck. i'm max kaiser this is the kaiser report i mean noticed that we need show for the kaiser report the occupy the world movement gets stronger and stronger so after we started it if you're standing stronger and stronger and it's heading into more and more countries it's in as many countries as the show is ya get it when is the folks at fox like. 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 station or max keiser yes the occupy

the world movement is gaining traction and i have some images to prove it here some occupy amsterdam this is max and c.c. max keiser dot com this is a guy at occupy amsterdam next to miss from occupy london stock exchange hey max o.l.s. sex and a crass take 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 not the banks are going to fail but that's not in dispute because the amount of debts that they have on their balance sheet mostly disclose on off balance sheets special purpose entities 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 newness 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 in me's america the u.k. france these countries japan what was about forty trillion that number correctly global that yes it was adding up so fast as we're sitting here talking about a course of the total derivatives exposure is

a six hundred trillion so more than ten times that number and there's no counterparty protections of that like for example g. if you morgan has one hundred trillion in derivatives risk and there's no counterparty safety for that all the companies are 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 remember the last time a europe had such austerity measures 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 this credit suisse in our estimation of what could be the new e.b.a.y. which is the european banking authority stress test there will be sixty six failures with r.b.s. deutsche bank and b.m.p. needing the most capital at nineteen billion euros fourteen billion euros and

fourteen billion respective lee among the banks of 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 is nothing that could possibly stop well look at those banks they mention their max r.b.s. deutsche bank b.m.p. soc gen barclays which of those five banks have in common. 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 getting food rations is there a big difference there one they use these stealth financial weapons of mass

destruction one to use the traditional let's create 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.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 this impose dictatorial authority from a top down european wide bureaucracy run by weapons of mass financial wielding germans. familiar so when will the penny drops that's the next headline from david

mcwilliams he's down in dubai and he's 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 likening europe to the argentina of the last time prices were this high and all of 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 well i think the point is to be made that the history of bank fraud and bailouts going back twenty or thirty years including the argentinean bailout and other sovereign debt crises cizik cetera with

each crisis that 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 were 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 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 we have 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 well 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 dobby we were told that they credit the american military machine for making them so rich because of the price of oil yeah they love they love americans there i mean the whole mythology in the us is that they hate us referring to arab extremists but when you go to america on tree you're

like come on baby have a cigar however during thanks from us 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's not somalia is not enough pakistan's not enough now we're 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 first to step down from great britain his mistress this guy adam where it it turns out has been involved in an audacious plot to topple arena president mahmoud on the do you shot so the self-styled advisor to mr fox has visited around on 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 but 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. is a war of course that's the song they're saying now let's attack iran. 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 joined together as war who because of you know intelligent enough to get real jobs let me explain something to you about war

you see there's a huge debt bubble the world city. and there's two choices. is is cutting into purchasing power essentially is what it's doing to everyone she had currency their 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 oh it's driving costs higher so it's kind of a cost pull 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 its purchasing power is eroding now there's two ways that you can get rid of this problem increasing purchasing power either you look at bonds collapse and therefore let the banks collapse where you kill a lot of people. therefore eliminating 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 bonds crash or to kill millions of people and tens of thousands one hundred thousand american service men and one of the bomber thinking right now let's kill more american servicemen for the sake of recovery because the guy's a murderer and fog i mean this is impeachable beyond a breach of all this is like to run nickel well britain is the leading edge of the financial war and the wars they they lead the charge we would not going 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 sense in a war well remember what stopped the actual opposition movement to seattle was that a cock that made up nonsense of nine eleven ok stay sober thanks so much for being on the kaiser report thank you don't go away much more coming away so stay right there. jim the official g.o.p. case kulik like old talk from the point you substitute. life on the. video. feeds. now in the palm of your. on the com. could you take three.

or four charges. arrangements free. free. free. floating videos for your media project free media oh don carty dot com.

i welcome back to the kaiser and for imax kaiser so i'm not a 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 michel we spoke to you a few months ago about ag know the logic capitalism for those that missed that up with gristly tell us what that is well it's the idea that we're currently living in a very early digital capitalism 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 systematic unknowns ok so when somebody like michael moore for example all goes down to the occupy wall street movement and he says were ads i capitalized these 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 misinformation based capitalism they are going to logical capitalism the model betancourt and they have a system as a logical capitalism relies on entering 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 going to find out what this potentially means and this is potential danger it's potentially

a fundamental challenge to the system some of the occupy wall street protesters are demanding a tax on transactions performed by also your own trades that would basically bring it into high frequency trading in an instant these kinds of directly targeted impacts have the potential to undermine the out into larger 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 people keep its population overly distracted into irrelevancies. and you arguments over things that really don't have any impact or over issues of lifestyle or issues of personal choice all the while arguing for my freedom is being a bridge by somebody else's freedom so 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 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 you are going to logical capitalism because this movement has the potential to undermine the foundations of it however 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 before trail 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 present all nature of the internet as a communication system. literally bypassing what's covered in television but coverage in our main news. and so we have these alternative starting to emerge that challenge this is your money order right so 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 but you're saying

those digital means the facebook the twitter and the twitter to twitter us here is it fits into your model where it eliminates dissent write about correct well it works just start full to sit through a process and you can see this really and 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 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 instead of having a clear knowledge of what's going on you get an alternative presented using the exact same methods by which we normally arrive at 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 thing 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 the out money symbolic of historical record and high frequency trading and seventy percent of all the trade in new york stock exchange or training in this nonsensical nonrepresentational propaganda idiocracy so you can send that the road to high frequency trading actually started over one hundred years ago so give us the one hundred year suite 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 take pieces of it and you put it back together in some new fashion according to some new set of rules this is called semi osis when we do this we have this symbiotic reproduction the origins for this are very very old it's part of how language works which is why it's called stereos has 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 very much . money has gone undergone this process of something else is as you describe it the

digitization the securitization of fracturing of anything that had any reference to value and that is stuff has 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 poppers and beggars and in america anyway it 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 is all idea of a job in america is that kind of finished now is it 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. say this is just soul should just be straight start to finish this is just not realistic it's an ideology in the nineteenth century it's called the trust and work ethic where if you work hard you will be successful and rich condors of course says 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 was called a 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 i mean i remember when i was working on wall street the model

there is outright fraud market manipulation and sided trading and a management on a weekly basis would lay out that waits for that wave spawns these game 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 confiscation as 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 suggests obviously supports larceny he supports thievery he supports market manipulation 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 there and it's actually worse than in some ways and what you're describing because we have no order are at a point where digital technology is powerful no if it's make sure you're accurately in terms of it's not just its technical capacity good 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 ai and those once you train one of these machines it takes away jobs from countless other real human beings because suddenly the task that would require say a c.p.a. you can get by downloading turbo tax for example. and an older 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 but i have to 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 him figure out how to work turbo tax so there is a job but there is one job at least for the minor of timothy geithner well michael baume car as always fascinating we've run out of time but thanks for being on the cars the report thank you i appreciate coming from always enjoyed talking to you 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 senate graphic and he graphic want to send me an e-mail please do so at kaiser report at r t t v are you and so next on the banks has are saying buy off.