which are you coming to you live from moscow was no detail on the top stories. well these are live pictures you're looking out of more trouble that's broken out in cairo with tear gas being fired thousands of egyptians continue to occupy top or your square the protesters are demanding an heir to the country's military rule despite a fierce crackdown by security forces that's claimed thirty three lives so far. russia lashes out on new u.s. sanctions against iran's financial and energy sectors calling them unacceptable and

not ally with international law but washington is ramping up the pressure on iran warning that increasingly aggressive measures are to follow. greece's fighting against the tide as its new government rushes to pose more security on the people in order to secure another rescue loan meanwhile easily continues to slide deeper into debt as a new prime minister starts his first week in office. and after six months on the international space station a cosmic nod to and two astronauts safely returned to earth aboard a russian spacecraft three other space around yours will remain on the ice as for another four months. plus what top stories here in art see now what caused the fall of one of the biggest financial brokers and of global and what really happens to its customers money the kaiser report is up next.

i am ask asure this is the pass a report the m.f. global scandal we've been talking about it for a couple of shows now it's becoming more of a festering sore on the collapsing global economy stacy herbert what's the latest i'm not surprised there well the latest is the entire system has been utterly destroyed by the m.f. global collapse presenting a first m.f. global casualty yes max has barnhart capital management and they ceased operations and in their letter to clients they say the reason for the decision to pull the plug was excruciating only simple i could no longer tell my clients that their money some positions were safe in the future isn't options markets because they are not the entire system has been utterly destroyed by the m.f. global collapse he goes on to say what was the surprise was the reaction of the exchanges and regulators their reaction has been to take

a bad situation and make it orders of magnitude worse specifically they froze customers out of their accounts while the markets continued to trade refusing even allow them to liquidate oh it's not unprecedented on the branch level as i've been explaining the individual branches of brokerages with the compliance officer and the trader and i ball distance of each others a tremendous amount of fraud that goes on this is more of an institutionalized fraud where the regulatory agencies themselves are to see any are acting like a corrupt branch compliance officer for the same raise and they take huge amounts of bribes under the table a lot of cash out of the money i've witnessed plenty of money bride cash paid off the c.m.a. folks and regulators i mean it's standard business operating procedure but the central banking. and the government believes that this is what's required to maintain liquidity but with the global economy collapsing. you have nothing left

but from this is a very typical of the end of a ponzi scheme because as people pull their money out of the system stacey that's the new money that you need to keep a ponzi scheme going so people are going to pull out of the ponzi scheme then we really do have a big problem this could be much bigger than lehman brothers because it really would attack the kernel of the systemic system that's now at risk due to just too much fraud and the c.m.a. group as we've been reporting for quite some time one of the most fraudulent regulators in the world that's the way the system works and it's benefited people and sold now it's killing people ok back well the reason why he says it's very unfathomable is that the c.m.e. group would typically provide the liquidity in this case when a group member like m.f. global group goes bankrupt normally the c.m.e. group would provide the liquidity and make sure that the clients the funds were still flowing and they didn't in this case in the speculation is that if they

packed and that global then others were behind it and that it couldn't possibly afford that so we've covered the story that barber capital management out of the game because of m.f. global now talk about the cook game max the koch brothers and am of global friends to the end daniel dicker an oil trader and c n b c contributor row on the huffington post that on october third koch brothers pulled out billions from an off global they had eight accounts with m.f. global and had them for decades just like dell slanty had his account for decades and he lost all of his money the koch brothers managed october third they were warned that this was coming down they pulled their billions they saved their billions and the article from daniel dicker on huffington post says quote for those still battling the excesses of two thousand and eight and those. occupying wall street this has been another proof of the inside fixed operation of the financial markets when banks though wrong betting big with other people's money losing they

can be sure of a bailout that guarantees their bonuses and businesses and when firms are tell spinning to disaster the richest and most financially influential partners are sure to get a phone call a heads up to save their assets to leave regular people with a mass yes insider trading you know once again drawing on my experience as a wall street broker myself many times call get a first call if you're on a first call basis with the firm you get the first call when you need to get across caught and that applies to research recommendations it applies to this type of scandal that's about to break that cost a lot of money a lot of pride lot of graft you know but it's worth it because you avoid these types of losses again it's the way the system works the way the entire industries built there is the clients who are on the approved within you know people or to venice ninety nine versus one percent within the one percent there's the ninety

nine and one percent there could be really at the one percent of the one percent like the koch brothers to get the first call if you're not in that group you shouldn't be anywhere near any of these training exchanges because you're going to lose everything and the other interesting thing max is that of course the koch brothers financed the tea party which is considered the protest group of the right now they have the occupy wall street crowd that is being painted as the protest group of the left and yet interestingly we always talk about this right left paradigm this red state blue state thing that happens in america but those top one point one percent or one percent of the one percent they're on the same team they work together john chorus line helps. the kook brothers theoretically they're on opposite sides right they claim but at the end of the day no matter what side you're a partisan member of you get shellacked if you're the bottom ninety nine point nine percent oh absolutely and you know it's simply not going to stop so all the

peasants. i realize that there are persons i mean america is a nation of three hundred forty nine million peasants and they need a proper peasant revolt but there they don't want to think of themselves as peasants their delaying the end their deferring the inevitable well max we are in london and it is the home of the peasant revolts the failed as a result i say usually fail throughout history the big one in thirteen eighty one that failed the one successful one of course was the one nine hundred ninety. which trace the trail of thirteen eighty one has a revolt ending and right behind you the battle of trafalgar now let's move to the u.k. the stories against the peasants virgin money buys northern rock for seven hundred forty seven million pounds yes virgin money has agreed to buy the good part of northern rock from the treasury for around half of what the taxpayer injected into

the bank when it split last year right well it puts a lie to this notion that the taxpayers are going to be paid back to these bailouts the taxpayers are going to have massive losses and somebody like richard branson gets a massive gift because he can chew gum and walk at the same time that's richard branson's gift to the business world he doesn't trip over shoelaces he's not technically you know mentally deficient like so much of the banking system in the u.k. so they throw him multiple billion dollar gift and say oh we love your blonde hair and big shiny teeth can you make our pranks look like they're not corrupt who give you one for a billion dollar gift richard branson and so he's just sitting there like yeah yeah i'll take the gift you know sure but you don't need to have a blonde hair shiny tooth guy come in with a billion dollar pound gift you can actually do some regular coke competitive bank set up and twenty minutes on line it doesn't take a genius to figure it out but the government errors you know cameron is just so

full of himself and he can't see. his own disingenuousness he's just like you completely and origami griswold up in the contortions of his own lies and he's a total betrayal to his class these people these two tutus you supposed to be representing and camera just walks in and takes all the free money off the floor it's a disgrace well the daily mail about this story reports after its state takeover northern rock was split into two parts a solvent good bank and a bad bank which took on the company's riskier liabilities totaling around twenty one billion pounds which taxpayers may never get back so i like that they call it a risk your liabilities i.e. those assets that are worth nothing there were zero on a dollar on the pound in this case and that's twenty one billion pounds worth that the taxpayer is stuck with richard branson gets the good assets he gets it for half price of what the taxpayer put in its work a whole lot more than half

a billion pounds right these so-called bad bank concept they have on the books of a certain value which they don't use mark to market accounting they say that the assets on the bad banks' balance sheets are worth one hundred cents on the dollar we know that they're worth zero cents of the dollar you see this in countries all over the world particularly famously nama in ireland they have a bad bank work the assets are supposed to be worth something but they're actually worth nothing same thing in the u.k. same thing with northern rock they've got a bad bank the assets are worth nothing simply write off the bad debts of the bankers made if they can pay back debts the bay may then they need to be punished in some way take them off get out of the banking business for one thing why do you continue with the banking business and they've already proven that they are nothing but larcenous to leeching thieves oh because they support cameron and cameron as leeches covering his body sucking his soul out every second of every day he's up there in the house of commons like a zombie treacherous little morphed out piglet saying nonsense well max finally

let's show you this headline here. millions to lose out as benefits are curbed so there's going to be a billion pounds of benefits cut and because the benefits are no longer going to be linked to inflation so this is what you call financial repression some might call it financial question and like the peasants revolt of past they're dividing the peasants and to they're playing them off against each other because pensioners will continue to have inflation linked rises in their benefits but disabled people unemployed they'll no longer have benefits linked to inflation so. the cuts are quite significant but how much they're going to cut from their benefits right while they're turning disabled people into a permanent underclass in britain you know back to the victorian age where they put mentally deficient or disabled people into situations through

a they came they rotted ok we're going to reopen those institutions put the disabled people back on their little rock the deaf give them any money form because cameron will take well well max they do note that you know the problem is that normally benefits are linked to what inflation is in september and that was five point two five percent and the reason why we have five point two five percent inflation max zero because of all the money printing to bail out the banks quantitative easing is money printing bails out banks but the banks still rely on the money but they do invest in speculative plays like commodities forcing energy and food to go higher which is causing impoverishment and this is the intent if you go to the bank of england website they actually state this essentially the intent of quantitative easing it is an order to basically take your savings and transfer it to the bankers so here you have a disabled people paying for the crimes of the bankers and yet on the other hand you get half

a billion the same cost savings that they have with this austerity measure. they basically just transferred to richard branson in the same week oh it's an excellent plan stacy herbert if you work through the mouth and you put a few of these deals a line em up and blow away the smoke in the mirrors you see that billions of austerity taken out of the pockets of folks who rightfully are owed this money because if interest rates reflected something other than financial oppression and they put it into the pocket of richard branson because he's got lot hair and shiny teeth i suggest everyone in britain by their hair blond and get big shiny teeth and you too can be a billionaire all right stacy eric thanks so much for being on it guys the report here here are no you're perfect ok thank you max stay tuned much more coming your way so stay right there.

i am nice guys are welcome back to the kaiser report let's turn to richard thomas he's an independent radio journalist richard thomas welcome to the kaiser report hello max pleasure to talk to you all right richard you've been reporting from occupy. london stock exchange censored began tell us how the occupation began word stands today in terms of the concerns and

a list of demands or goals ok so. sudden october fifteenth there was an announcement to take the london stock exchange and perhaps it was to square this idea floated about a week before when u.k. and another at this stage that occupation of westminster bridge in an attempt to ward government attempts to. privatized national service i guess all right so let me just get in there for a second because of course the occupy movement came down to merica from canada from the adbusters organization that started on wall street and then it fanned out all over the world and look i wouldn't necessarily say that i mean i think the thing that i think he follows it so it was the. movement is obviously north and north american perhaps in origin. but of course i mean i think there's but for the disney i mean it goes back to the fifteen movements in madrid in boston which was into inspired of course by events and so he quit in kids so warm and i think it's the

mythic influence of the arab spring really in the way that that's sort of played into the into europe. then going across the atlantic then you can point. i mean street in zuccotti park and the king in back here. i think as far as i'm aware i think said extend these also who are the hands involved here is worth you can cook of course or at least if nothing else and advisory role to play good of course they will see your completion of springs and let me ask you this i've been visiting with some of the demonstrators and protesters here occupy u.k. it seems very much of going to a gunfight with a knife the protesters themselves don't understand really the nature of the enemy that they're attacking there's a headline out today talking about how the entire crisis in the eurozone is just playing into goldman sachs' hands because goldman sachs is now putting their apparatchiks in charge of italy and charge of greece they're active in ireland

they'll be active in spain so they're just strengthening their hand if anything they're using this chaos to just strengthen their hand out right now going back a few decades couple of decades i remember in apartheid south africa it wasn't so all there was a full on global boycott of barclays bank that in fact the world stood up and there were some progress made did they do these various global movements need to consolidate and create some economies of scale and really go on a global basis because right now they're there they're doing it piecemeal and they're losing. i don't think that's true i mean i think it is happening on a global scale i also think it's wrong to commotion on its own to. those involved in your commission i suppose a lot of experience did either go in there in a journalistic capacity of course when they're out of interest and socializing is a very very very few of them and sort of pond broadchurch people who are leaping reformists they want capitalism to be unjust and even the that want to completely

smash the state you know i mean it's really very imprudent a lot of people who are funding. the so some fund in each other in the underdeveloped in the critique that the innately feel but. i think the naivety of that you might find present to something that's been kind of lived remarked upon and i think naivety is a really good thing i think it means that you come into this into a situation with a fresh pair of eyes you don't know how to behave and you learning i also think the maybe might be a rule used to strike too much from a comparison with what it's like to sort of leave under apartheid i do agree that there is definitely a disparity. between those with with well from those without but i think it's a slightly different situation for what we do see a form of financial apartheid if you're in those top one percent for example your

cost of funds is zero or less than zero if you're not of the top one percent your cost of funds will be thirty five percent upwards of three hundred fifty percent but these payday loans so it's a bit of a financial partite or financial pressure but i want to go back to one nine hundred ninety two the poll tax riots here in the u.k. because this is when the u.k. population really stood up rose up and pushed back against the thatcher era regulations energy and initiatives of that time and it always has. in fact do you think in the near term just something i was volatile is that richard top yes we've already been this know for good you know we the and the magical moment when the fourth wall was broken at millbank the journalist and hancock for food through the shattering of loss of confidence read his money and let's not forget the momentous events that took place in august this year believe it was august which lowered the

london riots. we're already there you know. you wait there it's the mission is really kicking hard with people but it benefits taken when they basically can't afford to eat people who are going to really kick off people. who grateful it's a latino and they have no faith in institutions of power what i noticed when i mentioned those two words poll tax suddenly the energy level just skyrocketed saying people are very revenue no other styles are for this moment. whether people right now let me ask you this question going to stacy herbert earlier in the show and she mentioned and she did a little analysis of how the cutbacks and entitlements in the u.k. if you added them all up and then the gift that the u.k. carbon is giving richard branson to take over northern rock you can see that the government is basically taking money out of the people that were riding due to their mistreatment by the government and they're putting that money directly into

the pocket of richard branson how can this government get away with just transferring wealth directly from the lowest. on the social ladder directly into the pockets of the highest i don't know it's astonishing and it's a lose lose situation or to understand it i mean the austerity budget is removing removing benefits shutting them social services there's no growth there's no job creation it's like a million people young people are employed at the moment there is no way the pillow when they've got nothing to do so if the people who can't go but they fed up with the crap vote. a reality that's foisted upon them anyway and they're fed up with the crap and drab weak precarious future that's foisted upon them as well you know what you know you're going to get are you really going to be excited about maybe working in a retail store on a six month at best contract for the rest you know what i mean people would pay for cameron was even elected so you know i think people start to question what reality is. the kind of reality they want and now with this extra kind of absolutely brutal

chemical and a lot of time can publish services people are going to get more moved angry i would hope anyway and you know the specific responsibilities when civic responsibility yeah well there's an underlying economic case to be made public services. by the government participating on a wholesale level to provide services to a majority of the population you end up increasing your g.d.p. because there are some economies of scale there and public services are not it's not socialism it's part of a dynamic economy attempting to create a meritocracy in a pro-competition environment by cutting off your future entrepreneurs' by simply. you know killing them in the in the cradle essentially what cameron is doing is committing baby aside on the next generation of entrepreneurs in favor of the richard branson has got a budget cameron said and says give me half a billion pounds and as a gift all right got to take out another portion of the european economy but

without the london being the center of the global money laundering rackets and the global banking fraudsters of course the u.k. economy would have no growth at all. do you think the if the u.k. government took about the camera is not going to chase down you know terrorists like for example the financial terrorist that destroyed iceland are currently have safe harbor in london while dealing songes being deported of course cameron lets these terrorist apps a farber in london should cameron what should you go after the terrorists or is terrorism just too much part of the economy here in the u.k. can't get rid of it without destroying everything but i think you have to say you could just because you do terrorists in some sort of symbolic way you mean you know . it's not just those individuals is it's the system in which perpetuate the corruption and that is the system has to be dismantled it includes the position the

system within which people are kind of nor acting or anything you know the thing about the thing about sleep pools the thing about zuccotti park the thing about the thing about portland the thing about so you the thing about madrid the thing about barcelona and. hundreds and hundreds and hundreds of other walking patients also it's worth mentioning there's a lot of other walking patients occurring in public spaces around the u.k. is that whether it's about the one percent of the not in one percent it is obviously core to the why we're talking today but i think the other fundamental sort of real interesting aspect of it is it's what it's about is people want they're not those are pros they want a much more kinetic kind manic. persistent active engagement with with politics but not necessarily the form of politics that will occur is little to us i mean if you think about it it's just the parliamentary the binary kind of

parliamentary model we have feels like such an anachronism in a world where you crowdsource you were in the time and i mean the idea that you as this case now is pregnant ten minutes to a five year government to sit and wait to choose between a one to a free a for a five a six it sounds like paper it's not. versions of the same boring drab centrist kind of capitalist are ideological factions it is not satisfying to people go oh wait let me cut it up for a second we've got about a minute left and i want to watch a comment on what you see happening in the next couple of years on the culture side because of course during the bachelor era of the culture of the music particularly u.k. was explosive and world beating davis of course the sex pistols and the clash and other fantastic acts of that era are we heading into a cultural rather silence as a result of the. financial terrorism in the u.k. what's going to happen in terms of visual arts i think you'll see more collective

our practice because it makes sense to create three work on all projects to collectively occupy that space like an emerging studio and saw in terms of music i think there's no awful lot of interest in very very. political with a slower case p. what you also want is a radical rethinking or a form. of radical reengagement with a static scene and what what purpose does music sort of in terms of questioning political and economic structures the same thing probably needs to go on with the music as was somehow right this concentration of wealth over the past twenty or thirty years or squeezed out artists and science and has collapsed and else going to require art. ultimately to rebuild society and save the backsides of these financial terrorists as it always has been throughout history the artists ultimately are always the ones that carry the ball for civilization going forward

ok richard thomas thanks so much for being on the kaiser report thanks very much all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i want to thank my guest richard thomas did you want to send me an e-mail you sell at kaiser report at r t t v dot are you follow me on twitter max kaiser you can follow states here too on twitter but follow me on twitter and so next time nice guys are saying well. home. mom.