again angered by the government's excessive military spending protesters their demands social justice and to call on the authorities to concentrate more on welfare. this is our team max kaiser is next. kaiser this is the kaiser report let's talk about tony blair the well mark a daffy and assorted other psychopaths state herbert. herbert to you max is first headline banksy presents new artwork to occupy london movement now of course as with every single banksy art nobody knows whether it's his or not and there's controversy already on a banksy forum there suggesting that this could be from the keiser report itself that created this art work and presented it to occupy london because as you see in

this little image keiser wart dot com everybody's taking s. as the max kaiser but what's fantastic is that now that we're on three times the way it goes out to two hundred fifty million people around the world everyone kind of looks over their shoulder thinking about cars report all day long max and stacy that's all anyone thinks about because that's all really that matters in this new post occupy wall street world post global insurrection against banker occupation world this is all there is we are here we are talking we're no no don't get all not put stay in the lobby watch the show tell your kids to go play to the vending machines just watch the show well that's the clever thing about this everybody takes this kaiser report dot com but if you look at it it's kaiser wart and one of the original meanings of the word wart comes from london slang meaning fine splendid jolly or boisterous nobody can accuse you of being too boisterous mix oh

so it's a triple entendre well i'll tell you the other two meanings yeah which i really saw start up because of my laser like find well the other option is in new zealand and australia refers to a financial impropriety particularly relating to a government program defrauding the government program while defrauding the public has become the defacto modus operandi all the g. twenty nations as they perpetuate their massive ponzi scheme europe is going to be ok with leveraging the european finance all fun thing that they've created that just means more. currency fraud gold and silver to the moon gold and silver to the moon ok but you know talking about banksy one of his clever pieces of art and that was when in response to a cell that was auction where his artwork was selling for seventy thousand pounds of pop he created this piece of art called i can't believe you morons buy that.

again we have to bleep that word out of course i'm sorry but i thought this would be a great piece of artwork to be plastered across every single prospectus every single collateralized debt obligations or mortgage backed security that goldman sachs and j.p. morgan tried to sell to a pension fund is it has to say in bold images right up front i can't believe you morons are buying this toxic waste well in postmodernist are saying the value of art is determined exclusively by art enabled propaganda you know as the transition from representational art to abstract art to post abstract to post data ism to post post modernism we only have art now that's value it's a term entirely by the ebb and flow of mass hysteria as it relates to fetishism as it pertains to something of perceived value post andy warhol campbell soup cans where he turned something common a soup can into

a fetishistic object that had to be bought at any price enter banksy who rightly call on the cause a report as being completely in tune with the current design of post post post information age where art value is determined by the collective unconscious winching and the central bank policies are similarly affected pure propaganda ben bernanke he says he's trying to promote inflation but in fact he's scared to death of deflation it's deflation that put bed. bernanke in the soup line and we can only hope that his fate is the same as moammar gadhafi remember it's either banksy or it's kaiser report that created that art let's move on to why i think we need to have i can't believe you morons buy this toxic waste plastered across even the foreheads maybe of any central banker or too big to fail banker guess who's even

more leverage than the european banks this is on zero hedge dot com and it comes from phoenix capital research and they're saying that while the world is awash in liquidity no one seems to notice that it's actually in the form of leverage or cheap debt not real capital or equity so this is important to know as these g. twenty nations meet in the south of france this week and the u.s. banking system as a whole is leveraged at thirteen to one which means that an eight percent drop in asset values mean they're totally wiped out the european banking system is leverage twenty six to one which means that a four percent drop in asset values mean they lose all equity but max guess who is the leveraged the most the federal reserve bank of washington d.c. what is the exact number their leverage if they're at fifty three to one right so an asset value collapse of less than two percent means that the entire federal reserve is bankrupt now here's the thing about a safe here but is that if we listen to the propagandists see n.b.c. or c.n.n.

united states like erin burnett for example she had a video out there castigating some poor occupy wall street protesters by saying that the g.m. and bank bailouts are profitable now that's not true because they just took the debt and put on the fed's balance sheet and now when the fed goes bankrupt all you need is a less than two percent swing in asset values and the entire dollar collapses into a pile of horsefeathers and their ship of course will still get her salary for telling lies and propaganda everyone and c. and b. c. will still get their salary james cramer who's killed more people in the equity markets then even bernie madoff will still get his salary and bonus because the. it's all about perception not about actual value speaking of perception and not actual value look how smart the american population is they sense this the hill poll voters say u.s. is in decline or resound and sixty nine percent of respondents said the country is in decline the survey found while fifty seven percent predict today's kids won't

live better lives than their parents absolutely true and sooner or later you're going to see this reflected in the stock market so people who are concerned about the value of their net worth should start to make negative bets on the united states economy in particular companies that are exposed to the global descents like i'm thinking maybe coca-cola for example our friend adam curry has got an occupy coke campaign running on top of the campaign we had a few years ago these are the kinds of companies that once the say in the dollar and america collapses that stock could go to zero and if you're making negative bets you've got to hedge against collapse and lose your preserving your own wealth well the theme of this show is i can't believe you morons buy this leap now we're saying here that only the g. twenty guys only this are cozies and berlusconi's and obama's and geithner is of the world meeting down there in the south of france this week by this that they

push on us the population itself knows it's a hoax they know it's a joke they know there is no hope in their ponzi scheme economy yeah that's right the awareness is building and on the margins were economically speaking all prices sky every price action begins that's why we're seeing a fundamental change in other words like barack obama talked about change but his was a top down change all talk no action you know as i say in texas all hat no cattle this is a fundamental grassroots change incremental on the. arjun's which of course will could change the center change the dynamic that's why all these occupy movements are extremely important every new individual that sits down and says no but stuff that enough it triggers gets closer toward a global collapse of the dollar which is the world's prison currency well the other

important ingredient in this financial collapse is the price of oil not a myth the skyrocketing cost of new supply and this is from the a annual energy review and it shows that the capital required to add an additional barrel of oil to reserves experience the step change starting last decade and you see from two thousand and three to two thousand and four max straight up what of course happened in two thousand and three the i reckon beijing iraq invasion and invasion a war without any intent to pay for it via taxes that's the first war to be financed via just inflation i.e. stealing from the population that's it the iraq war has caused rapid inflation and we see this down the cost of getting that barrel of oil out of the ground and processing it the absolute absolute price of brant crude price except for a has moved in it's quoted often and you get the sense of where the oil market is but the people don't understand is the cost of actually pulling barrel of oil out

of the ground and what you're talking about here is that the prices skyrocketed because all the inputs that go into getting a barrel of oil out of the ground those prices are skyrocketing due to all the money that was flooding in the system to pay for america's genocide of a million iraqis for tony blair's retirement fund speaking of tony blair i have in this headline max tony blair's team have set up an office in kazakhstan says presidential adviser so believe it or not any body who calls tony blair in to advise them they usually end up buried at sea or in a unmarked grave in the dead. lo and behold apparently cause i president nursultan nazarbayev has hired tony blair associates to advise him now the article points out that with this vast energy supplies the central asian state is increasingly confident and prepared to spend millions to promote itself tony blair himself says he is not personally making

a profit directly or indirectly through tony blair associates or any company on this will i be buying puts on all the leadership in this country that tony blair just entered because nobody is safe now that tony blair is there they're all in the crosshairs if you're if your leadership there you value your life you should leave immediately because tony blair is in the house and tony blair is in the house the big house of the vatican house of course and this brings me to blair's buddy pope benedict's vatican calls for essential world bank to be set up pontifical council for justice and peace and a document called towards reforming the international financial and monetary systems in the context of a global public authority yes a calling for a new global economic authority and essential world bank to be run by the un under which tony blair now in riches himself around the world i mean to think that the pope is coming out and saying the vatican will this be a world bank because everything that's caused millions to die is essential ization

of financial thorney in too big to fail institutions so here you have the vatican saying let's create an even bigger too big to fail institution to create more murder more sass nations more war this guy is completely inconsistent with anything that philosophically or theologically speaking that he says he represents if this is no connection and c.m.t. c.-max here says it should be music to the ears of occupy wall street demonstrators and similar movements around the world who have protested against the economic downturn. first of all we are not protesting against the economic downturn we are protesting fraud against banking fraud occupy vatican occupy vatican is the global insurrection against banker occupation we're not saying who cares if they can i'm a downturn this is economic collapse caused by financial fraud on checked plus the

vatican bank is one of most corrupt banks in the world it's as corrupt as goldman sachs and j.p. morgan it's as corrupt as they just be saying it's a corrupt as any big bank well i think he he was concerned about stephen schwarzman and lloyd blankfein getting you know this guy game trying to rob goldman sachs and and all these present lloyd like i said he's doing god's work yeah like oh wait a minute i got the big head. all right since there were thanks so much being on the kaiser report thank you max so go much more coming away so stay right there.

in the. skies or welcome back to the kaiser report time now to go to atlanta georgia speak with gail torbert gallo's an actuary who writes our finite world dot com and you can also follow her on twitter at. twitter dot com forward slash gal of the actuary geld actuary welcome to the kaiser report well thank you all right gal according to wikipedia an actuary is a core business professional who deals with the financial impact of risk and uncertainty so the question is with the risk of uncertainty in mind a tell us about your latest article on the united states as debt bubble and risk pose for the

america and the whole world at this time well i think the debt bubble contributes to g.d.p. growth as it goes up but then as you start reaching limits in oil supply or whatever kind of either finite resources that we run into limits and then your debt bubble starts the flayed ing and it acts the reverse direction it causes d.d. g.d.p. to decrease rather than increase i mentioned oil there to what extent is a has all supported the debt bubble in america well i think that oil has helped us have economic growth that was especially true prior to nine hundred seventy when it was our own oil supply that we were pumping out and our growth rate was higher back prior to nine hundred seventy then we started importing more oil

using oil from around the world the while that we got from elsewhere were sort of but not quite as well as they were we had ourselves and our road growth rate slowed down after you know the one nine hundred seventy one nine hundred eighty period and so we've been any lower g.d.p. growth rate but the fact that we had while in there helping us keep the growth rate up and helped us to maintain our debt growth which has resulted in a combined high or. three right now while certainly the g.d.p. has been bouncing around over the past twenty or thirty years they had a nice pop there during the reagan years but oil was certainly contingent on the growth of the debt bubble g.d.p. there is a relationship there so now that america occupies iraq libya they've sent troops to uganda with these oil reserves secured by the american empire while this enabled

this debt bubble perhaps to resume growing and maybe is this the way the u.s. will see its way back to growth where i don't see the military approach really has worked very well in the paris that we had all kinds of military interventions in iraq and even now or oil production in iraq is just barely growing up who our exports aren't going up at all because they don't have the export capacity even if they do have increased oil production there is no direct translation of our military efforts to higher oil production and i suspect we'll have the same situation elsewhere i guess what you're describing here in terms of a debt bubble collapse is deflation something we saw in the one nine hundred thirty s. after the run up on the stock market and other assets in the one nine hundred twenty s. you had the big pop the big crash then you had

a deflationary depression and what you're describing here is a deflationary depression of debt implosion and inability of policymakers to restart the inflationary bubble the reserve bank is however trying to. restart inflation by putting as much money into circulation as a possibly can over there at the fed is the deflationary debt implosion going to continue at this pace in your view in till we end up out in one nine hundred thirty s. style. well depression. worse than we are now or will there be any intervening force to counteract that well i think we probably will head to word something that looks like a one nine hundred thirty style depression. i'm not quite sure exactly how it works out but i think what happens is the the prices of goods that people use on

a day to day basis you know the food and clothing are going to continue to rise what's going to happen has it's going to be increasingly difficult to sell assets that normally and debt. associated with their sale and so that there's going to be deflation in home prices or just inability to sell them in commercial businesses and even stocks and things of this sort are going to be affected more by the bubble then the the prices of the everyday commodities that everyone needs right so this is it's a bit of a mixed bag isn't it because although you have you have what's called cost paul inflation with energy and food at the retail level that people point to and say oh look at inflation when you compare that against

a backdrop of the housing collapse and the bond market collapse the net effect is still deflation isn't it yeah i think that there's the way you would describe it but from the point of view of the ordinary person who maybe making not a whole lot about minimum wage i think they may see it is in play sharing right now let's talk about china for a second because one of the primary reason really to why you haven't seen inflation in the u.s. despite all the money printing is because of the offset that comes from chinese labor force that has knocked the u.s. worker out of the box. and has contributed to this massive wave of deflation and china of course sucks up all the cash and they're hoarding it more or less into got trillions of dollars of the reserves they're not research elating in that sense they keep the u.s. dollar you went paid in place so china is really i would say the biggest obstacle to the less being able to grow its economy again. how is that going to play out in

your view gail going forward well i think there's another aspect to the chinese economy too and that is that at least their internal rose has been propped up with a lot of debt of their own building all kinds of apartment buildings everywhere i was just over there in may and saw for myself how much building had gone on but there are all kinds of government projects and there's a lot of debt that underlies all of this and so china needs growth to support all of its debt as well but what's happening is that its customer base is slowing down in the price of its coal it's fine is rising the price of oil of course that prices rising as well so it's starting to feel some effects so

there are some definite issues with china actually being able to keep up the pattern that it's head in the past and it may start hitting a recessionary impacts as well and not too on ok well what used what you're describing areas in the past of one country's economy is slowing down another one might pick up and this has gone on for many decades it is part of the global scenario economics for quite some time but now if china starts to slow down in a meaningful way we're talking about a global depression so post. collapse what happens to the dollar and does this affect the currency markets in any way like we saw after world war two when they came together and they create the bretton woods agreement having to reconfigure the global currency market do you see anything like that developing yeah i think that there's going to be some major upsets in the currency market i think that the euro the way all of the activity were seeing over there i'm afraid we're going to see

isn't really a break up of the euro that some of the countries leaving the euro or the euro just falling apart all together you know there's kind of a race towards the bottom everybody wants to have their currency to low and so that they're better able to sell exports but the whole situation just doesn't work i think there's going to have to be some sort of like you say reconfiguring but i know it should be able to reach an agreement i know you mentioned a call there a moment ago and i want to pick up on that a little bit you know the history of energy usage over the years you know you had whale oil which gave way to coal which gave way to. petrochemical oil now is there another energy source in our future that's going to be able to pick up the slack in your view i don't see that there is i think the hope back in the seventy's was that it was going to be nuclear energy but now we've seen so many bad results from

nuclear that i don't think there's really hope that that's the one that's going to really take us to the future maybe if we had tried story in back forty years ago and got all the wrinkles worked out and you stand steady eurabia maybe that would have worked but at this point it's really getting to late in the game to find a new energy source and get it going can you give us a one minute breakdown on thore and i just was reading about this recently we had a point going back to the dawn of the nick of the range of choosing. nucular substances and can you just give us a one minute summary of that story well story of a is in some sense similar to your a.t.m. but it doesn't leave you with all of the the radioactive residue it's a problem after the fact so it would be a much better source from their point of view it also is available in much larger

quantities so it wouldn't be as much about problem for extraction from around the world and also when it's mind it doesn't cause all the problems that the uranium right so i'm assuming that the lobbyists for the iranian industry had their way and that's why we have uranium today. but let's wrap it up of you've got about a minute left your final thoughts on what happens when the debt bubble or peak debt meets peak oil which is the moment we seem to be at right now these two develop simultaneously over the past thirty years the debt bubble grew as the oil market grew now that we've had peak oil we've also had peak credit or peak debt so what's the go forward from here gail i think we end up with a situation that looks a lot like the limits to growth what was forecast back in one nine hundred seventy two in the book was originally written where you have

a downward spiral in all areas of the current to me then instrument by limited resources all right well that's all the time we have thanks so much gallant verb or go for being on the kaiser report thank you all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i will thank my guest gelt for berg you can follow her at her website at galley actuary now if you want to follow me on twitter i'm at twitter dot com forward slash max keiser stacy herbert you can follow her to using her name or you can also go to facebook dot com. slash kaiser report to keep up on all the updates and we ask you for questions on our show so we rely on you to help us and if you want to send me an e-mail they can do so at kaiser reported r t t v dot are you until next time this is max kaiser saying. an alien.

still in tune occupy wall street activists remain defiant in the face of police of pressure and an early start to winter in new york big apple of earlier campaigners heaters and power generators posed

a fire hazard. activists say at least thirty protesters are killed in clashes in syria as the arab league calls on damascus to end violence. plus a special r.t. report the man responsible for the biggest financial pyramid scheme in russian history that costs millions their life savings is now tempting ukrainian savers to head over there are hard cash and. thousands of kids may be cut back on the streets protesting the government spending they say they're not getting enough of the minute cheap. and live from the heart of moscow this is our team and i'm sean thomas and these are your top stories u.s. police are up.