good afternoon have you friday and welcome to capital account i'm lauren lyster here in washington d.c. now as the euro zone crisis continues could the options on the table at this point include a german takeover a leaked document from germany's foreign ministry reportedly reveals the country is preparing for a new european but it would be able to take over the economies of struggling bureaus own countries now this document also reveals that germany's preparing for the defaults of large eurozone nations will bring in all the details meanwhile in the u.s. we know regulators have been trying to figure out what happened to this six hundred

million bucks missing from customers of global and now they suspect at least some of that cash may not be missing it may be gone and used to cover trading losses at the firm that of course has declared bankruptcy now the question remains as to whether more customers affected will react like gerald celente did earlier this week on our show. maybe then they know and as i'm thinking the first word of the m.f. is mother and we could put the all the word in there if you use your imagination i you're going to go and from working on wall street occupying wall street we'll talk to max kaiser first host of the popular kaiser report on his evolution from broker to leader of the so-called global insurrection against banker occupation and was seventy five thousand layoffs expected on wall street will we see more bankers joining the fight against today's capital accounts.

as the eurozone saga continues the technocratic government of the thai and prime minister mario monti has won an important vote of confidence in parliament meanwhile though on the streets of rome and athens for that matter people have protested their new technocratic leaders opposing what they call banker governments and the kind of economic measures that these technocrats want to see through now in the united states of course yesterday we also saw protests occupy wall street had a day of action with protests all over the country in new york l.a. d.c. this was of course the culmination of sixty days of this movement we ask is this about more than protests on the streets is this really about financial war

financial repression that's a financial journalist max kaiser believes he's of course host of the very popular kaiser report which airs on our t.v. now here's max taking that message to the streets of london just recently the national group. what is. the. word for people who live on pension accounts people in. ohio right of interest to support their retirements or their. living. being forced against their will. to subsidize speculators. now from the streets of london to our studio he described his visitation from the front line of financial war reporting as he describes it we interviewed him earlier take a look at him actually start a lot about financial repression and. using it as

a weapon against savers in this war between savers and speculators but for everyone to kind of get an understanding of what exactly is the war. well to put this in a context think of the jim crow laws remember in america that the jim crow laws which were put in place never the signs of colored only for blacks or light only for white rights sat at the front of the bus a black side at the back of the bus in america their financial jim crow laws if you're a white goldman sachs partner you can borrow money at the zero percent or less than zero percent anyone else you're borrowing money at sixteen percent twenty percent thirty five percent payday loans analyzing at three hundred percent so they're using interest rates to create a two class society those who are on the inside who get zero percent interest charge to them and everyone else who is basically under

a class of permanent underclass in the united states and around the world who are charged exorbitant fees to borrow money that's almost a financial apartheid if you will and it's orchestrated on purpose to create this huge social divide for profiteering purposes and this is something that you are very outspoken about all over the world and you've also been pretty outspoken about euro zone and i technocrats there that are running out roman athens now and i'm actually really curious your take on a leaked document they came out from germany's foreign ministry actually that reportedly reveals that germany is preparing for defaults by large euro zone nations with officials planning for our european monetary fund if we take a ling countries into receivership and run their economies actually want to bring our producer dimitri christine i think ask you about it i have actually i don't. my question has to do with with exactly that now we know that mass rich which happened shortly after the fall of the berlin wall that was

a treaty and european union it was arguably the most important of the treaties because it came at a time where germany was looking for unify france was very concerned about german. and so they develop this next leg of the european dream to kind of bind germany's legs and it's and it's its feet so that it would not be able to do to the continent what it did since the time of bismarck and especially world war i world war one and two what do you see as far as germany's new role in this in this this financial kind of situation in europe now are they are we going to see a bigger role for germany and should that be something which may concern about. well first of all i think we need to get rid of this term technocrat because we're not talking about technocrats are talking about bank bankers these are bankers they're on elected they've been put in place to take over from democratically elected government officials and these bankers all are connected to one banking organization or two or three banking organizations and they're all looking to

create this european wide credit facility they talked about a dad also a couple of years ago that they wanted to create these huge global credit facilities as a way to get a play on the global economy from an organ banks that are operating outside of any sovereignty any jurisdiction and germany of course they're playing this extremely well and i'm i think i'm the first one really on vassal international television to talk about the role of germany they are once you've got the tonic genie out of the bottle which is what's happening here remember the euro as you point out was there to ameliorate the possibility of germany a unified germany being a breaking out and stretching its legs a superpower again but now with the eurozone breaking up you have a real unified germany you have people talking about bringing back to do its mark they have the going to spank to go so you could see either germany breaks out and then you have the emergence of a superpower germany four point zero as i as i call it or there are within the

eurozone but they're calling all the shots and everything is going to berlin and frankly they're running the show in europe you know germany has always wanted to run all of europe and now they're clearly in that position they've cameron's positions like lord chamberlain back in world war two he seems to be appeasing the germans he seems to be unable to really articulate anything strong enough to say we don't why in this position anymore and germany is laughing they're saying yeah well we know the story but i think the at this time day they have dreams of getting it right leg or picture what about the rest of the world i mean right now speaking of banks there's a report that central banks are loading up on gold and a third quarter at t. the financial times is saying it's because gold prices were so low in september i'm curious why you think there's a gold rush. well central banks know that the forgot currency era is coming to a close the euro is going to break the dollars looking weak the average lifespan of a few i've currency is forty seven years and gold has always been the defacto go to

reserve currency in times of trouble and subtle banks know that we're going to go back to the gold standard robert zoellick spent hinting at it a lot of imprudence been talking about it so this is in the cards now it's on the table and it makes perfect sense as a way to resolve this global debt crisis is everyone's got to write off these debts and and basically they've got to do it against gold so the price of gold will continue to go higher as both the emerge re-emerge as does the reserve currency and panic buying because people realize when they see like a enough global basically stealing customers accounts this is not using derivatives to create a quality of game which is actually reaching in and stealing money they're like wait a minute the whole system is grating down i better buy more physical gold and even well known pundits who should know better are big caught in the futures market when they should have physical gold. braid my grandma and i have been retired now if i were talking earlier this week thinking it is fine dad we were also talking to

james records yesterday who sees the entire future of the global monetary system as a race between f.d.r.'s which are basically and i.m.f. currency and gold as he sees gold is waiting i know you've talked to james records about the g twenty wanting to punt germany's gold do you see this as a race and if so who's winning. well the i.m.f. and the s.t.r. will become a currency in which to roll up all these bad debts in an attempt to extend and pretend yet again but it's going to be a highly inflationary and it simply won't work because you're not underlying the underlying systemic problem of massive fraud so rickards i totally agree with records that he sees this thing playing out his book currency wars is a fantastic read and there's more caucus a matter of fact in europe now they are replicating the types of war games that records talks about a currency war that were conducted at the pentagon to simulate financial wars and

currency wars now in europe they're doing the same thing so this idea of using weapons of mass financial destruction as warren buffett call them as actual way to antagonistically attack countries is getting more play and we saw that in greece you know greece's big problem is that for every bailout package they came up with for every ten billion dollars of bailout wall street could create a hundred billion in credit default swaps and then slump that market with artificial sell orders and just attack that market you know greece was put out of business by financial terrorists same thing with ireland same thing with italy same thing with spain that's why we're dealing with their weapons of mass financial destruction in the hands of sociopaths like light blood five of goldman sachs like jamie diamond it j.p. morgan these are the real terrorists and you know if that is not the end of the story from financial journalists i have to stick around for that you can still ahead right here on capital account from working on wall street to occupying it and

that's kaiser went from broker to financial warrior and will raid on bankers the soon to follow that first year closing stock answers. if you just put a picture of me when i was like nine years old i like to tell the truth. i confess i am a total get of friends that i love rap and hip hop is a planned trip. but it was kind of a yesterday. i'm very proud of the world without you

it's place. oh. you know sometimes you see a story and it seems so silly you think you understand it and then you glimpse something else you hear see some other part of it and realize that everything is ok you don't know i'm sorry welcome to the big picture. what drives the world the fear mongering used by politicians who makes decisions. being made who can you trust no one who is you know maybe you with the global machinery see where are we heading state controlled capitalism is called sessions when nobody dares to ask we do our tea question more.

all right it's time now for word of the day where i break down a financial word or term for our very smart viewers but maybe just not the financial expert in the crowd now today the video experts may not actually even know this word but you'll hear it a lot from our guest max kaiser and it's job it stands for this global insurrection against banker occupation and you won't see this term on the pages of financial times i'm doubting but you will see it online here for example is the facebook page dedicated to giago and let's see another example from online we actually found it on the message board on tom hartmann's website and you may know tom he broadcast

every night his show right here on our t.v. so there it is on his website so what exactly does it mean well just like you may not find it in the financial times you won't find a definition in webster's or investor but you will find it on urban dictionary and here's what it says a comprehensive and sophisticated assault organized by commoners in the work force against a small elite group of bankers and politicians working harmoniously to destroy the free market now in the view of job oprah ponens and activist famous contemporary insurrections includes a rear square in egypt syntagma square in athens and of course wall street in new york now the occupy movement speaking of wall street is really seen as the latest worldwide manifestation of this giago phenomenon and just to give you a little reminder as of november seventeenth the media page of occupy together listed more than twenty six hundred occupy communities in towns and cities and

that's worldwide now. occupy wall street is seen as the first time that the job on movement really moves to the epicenter of finance before that as you can tell from the other examples i gave you in the view of job of the insurrection could be conflated with other ills perceived like the role of mubarak in the case of egypt or the kleptocracy as perceived in greece and that financial experts and smart viewers is giago. now as i just showed you as occupy wall street saw a massive day of action yesterday and we saw images like these from new york of protests and arrests and police violence and some of the footage right there you can see an arrest

a lot of people working on wall street actually got pink slips it's the second week of major layoffs and job cuts on wall street are supposed to be pretty girl rudel coming up here it's expected about seventy five thousand people could be losing their jobs according to the announced cuts by banks ranging from credit suisse to bank of america g.d.p. morgan citigroup goldman u.b.s. all of those have announced that they're shutting jobs so hey are we going to see bankers start occupying wall street lots of i asked anshul journalist max kaiser and here is what he said. well i think we're at a historic inflection point where you do have this global insurrection against banker occupation as i call it you have a global insurrection you have a thousand protests around the world and because of the credit collapse the start of two thousand and seven the underlying banking business is starting to fray at the edges so these desperate attempts to create an s.d.r.

european wide credit facility these are really last gasp efforts to try to keep a failing system of floats and of course a lot of people are falling by the wayside people are getting fired those people who are newly fired nearly like of these banks and bankers brokerages where they end up do they join the picket line historically what happens is when the middle class starts to rise up that's when you have fertile ground for every change we saw this throughout history the poorer classes the lower classes they don't necessarily have what it takes to overthrow a government but when the middle class is thrown to the street they have what it takes to overthrow a government and quite frankly i mean what i see in the united states is just that i think this is a turning what i saw the entire white house surrounded recently by environmental activists you know that's a pretty strong statement and this is only getting more. intense not next

about why you're not any us dare i ask it mean you dear sound air and i believe. well i'm with stacy herbert we do our shows at our films and we go where the action is you know when we started making films ten years ago nobody in the united states would play those films because we were exposing bank fraud and that's like you know if you're a roman you're attacking the vatican you know in america wall street is their church so if you come out with these films that are attacking wall street you don't get a lot of play in the united states so we ended up in the middle east and in europe and in other locations and that's pretty much been the story and so the u.s. like the cold spouse is really the last to know in the global economy that there are there are trusted public and banking officials have been cheating on them unmercifully and causing a tremendous amount of problems and things are really going to heat up there i

think and you're fighting against wall street you're fighting against al the things you're talking about the problems of bankers in the banking system but you weren't always you actually used to be a broker and you were on t.v. even then we found a c.b.s. report that you were in when you were responding to you i was in at reporters' package about when wall street wanted to bear to hear a tory and it was about yet is the impact on yet you actually want to play a little bit about it the idea of a yuppie you know money. and without stopping dead if that's the case anymore personally i'm going to see it i'm sick of your piece no more your future no more yuppie magazines no more you know because no more yuppies crave the silly thing we could have which if anything we got rid of the yuppies and i'm happy about now very quickly you obviously weren't of banning eppie's them but you were a broker so how did you go from working on wall street to occupy innit. well that clip happened right after the stock market crash of one thousand nine hundred seven which was the first globalized synchronized crash and we've had many sense then but

it's always been about competition but even in the late eighty's and early eighty's when i started i was straight you're always competing against like the goldman sachs and the j.p. morgans and they always had good actions insider connections so as the world has changed and as the politics of the world has changed as are seeing a bull market and dissent and we're seeing people monetize their dissent i'm to i'm soo competing with those guys i'm with the side of the bull market winners in this new paradigm and the gold and j.p. morgan i'm still competing with them i still want to put them out of business and we're going to triumph over them so it's all about competition with me and i always like to be in the right side of any war i like to be on the winning side and i think there are going to be on the losing side and we see them breaking up right now and jamie diamond i mean come on every single day we're finding out more salacious scandalous material of this guy and his days are numbered as c.e.o. of that organization will not find him and that was maximize their financial

journalist host of course a big kaiser report and our viewers in london he's actually there doing a fundraiser a stand up rage so you may want to check it out that some aren't. all right we've told you all about financial work right now let's talk about airline travel or warfare and i want to bring to me trick athena's our producer and again and i also want to bring in shanna donna our producer in the control room to multitask and help me out with these stories now this first one we brought you some airline stories from cockroaches on airlines and people suing to get people they get held up in the airport basically sleeping in homeless there because they can't

afford the baggage fees now this one though i think trumps them all because people that were traveling on call and tell air they're on a flight going from india to britain they were stranded for six hours indiana when the plane stopped for fuel now the charter service get this they asked passengers to kick in more than thirty one thousand dollars to fund the rest of the flight to england they needed gas money here's a passenger describing it. then they wouldn't fly us back to the moon come to have and give them the money for the flight or the pixel fuel cost anything so we have to pay our souls are going to lose announced on the plane but you were going with. twenty three thousand pound. so is this just absurd you airlines just completely have the ability to hold us hostage with even asking for gas money this is worse than cockroaches oh here's the next up because you know you get photo of now when you get to the airport they molest you so you're sexually violated and then they violate your bank account directly that force you to go to be

a temporary gunpoint to pull money out to pay for the gas to get to the solution i think it goes as shit and they even made people get off the plane and go to the a.t.m. right yeah they basically once they corralled also money that was already on the plane from people's person all its they obviously didn't have enough so they were such off one by one going to the a.t.m. pick up all the money you can give us i don't understand how companies can get away with this basically if you have a flight booked unless you're a billionaire or a millionaire and you have a private jet you are at the mercy of the airlines for fees because the mercy of t.s.a. for security and now you're at the mercy of airlines for gas money well the banks have been ripping us for a long time and i think airlines have figured out that there's a good business of reading this also so they're starting at the airport i mean they're doing it financially that they can the bank model and they're taking the play by thinking your money from the you know so and you know what that's capitalism because they have the government and the airline industry and on that

one together now speaking of government we've spoken a lot about technocrats on the show and politicians and what is the difference we try to explain but we've got some great examples to really hit that point home so first i want to show you a former prime minister of italy silvio berlusconi's new endeavor i'll give you a little hint listen. you'll ever. see a guy. oh yeah that's right he has a new album he's released out of love songs he wrote the lyrics and it wasn't him singing but those were his words his lyrics now switching from politicians to technocrats i want to show you this this is nigel farrar she is a european member of parliament we had him on the show earlier this week this is him though in a tirade against herman van rompuy wade who is the president of the council take a look i said you'd be the class assassin of the nation state democracy but you're

going to be able to grow the boy so you don't you you either like. jewish ok so you saw his face these other technocrat reactions so that's the big question who would you rather have rolling a technocrat or a politician who can do more damage the first time and i will project who was in parliament and point out how ugly in fact. it is that he's a really lovely guy and he actually called them out of the parliament he was censored or something but i think you know politicians are there to make a lot of the population and that's their job their job is to run you know to romance good people all right you can't do that they're not built for it so but no bill dimitri there i don't know what the bill to command you know to do but with me behind the scenes or is there behind the curtain as the point of a technocrat or part of his was to be out making a local population that's their job their job is to caress and to warm up everyone and this is the thing reform so i think this is the probably europe is now out of breaking point because the technocrats have gone from behind the curtain to the

population there. are discussed and there really are and shannon just quickly is berlusconi still romancing the people as dimitri says was this this new love song i mean to shoot here though is that why i mean i guess it would have to be a translation but those lyrics are pretty i don't know. obviously is that how he romance calls a woman that he did in the past you know maybe he's had a little practice on this whole leave that to the viewers to decide because i want to tell you about this story brooke with before we go i don't think we have time to play the clip maybe we have time to play a little bit. no ok we don't but you can go check it out online we did especially by divers drop their i pads from thirteen hundred feet they gave them a protective gear and it made it all the way to the ground and damage and still playing their films despite the crash landing so you know more metaphorically is apple indestructible because they own the tablet market eighty percent we saw some report that eleven percent of americans own tablets and the i phone was expected to

be what boosted retail sales really quickly over there you'll see you'll see what it was for so just check out the video and we'll leave you with that because that's it on this friday thanks for watching capital account we'll see again on monday from everyone here have a great night. was that so much insight which of course he wanted. you'll be raising some foreign policy front runners for the republican presidential nomination have made it clear that they're almost here and policy hard. wealthy british.

market why not come to. find out what's really happening to the global economy with months concert for a no holds barred look at the global financial headlines tune into kinds a report.