all the big picture with tom hartman is coming up and yes the half hour and i tom is talking to regular with a retired philadelphia police captain who was recently arrested at occupy wall street protests but that the that here for now have a great night. you know sometimes you see a story and it seems so sleep you think you understand it and then even something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm trying hard welcome to the big picture.

more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada after. chinese corporations are today.

i am my spouse or this is the kaiser report the m.f. global scandal we've been talking about it for a couple of shelves now it's becoming more of a festering sore on the collapsing global economy stacy herbert what's the latest i'm not surprise there well the latest is the entire system has been utterly destroyed by the m.f. global collapse presenting the first m.f. global casualty yes max 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 lee simple i could no longer tell my clients that their money some positions were safe in the futures and 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 we fusing even allow them to liquidate well it's not unprecedented on the branch level as i've been explaining the individual branches of brokerages with the compliance officer and a trader within my ball distance of each other there's a tremendous amount of fraud that goes on this is more of an institutionalized fraud where the regulatory agencies themselves like the c.m.e. are acting like a corrupt branch compliance officer for the same reason they take huge amounts of bribes under the table a lot of cash under the money i've witnessed plenty of money bribe cash paid off the c.m.a. folks and regulators i mean that's standard business operating procedure but the central banking. the government believes that this is the choir to maintain

liquidity but with the global economy collapsing and you have nothing left but fraud this is a very typical of the end of a ponzi scheme because just as people pull their money out of the system stacy that's the new money but you need to keep the 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 other 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 praja learned regulators in the world that's the way the system works and it's benefited people and sold now it's killing people ok banks well the reason my piece says it's very unfathomable is that to see any group would typically provide the liquidity in this case when a group member like and the 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 of the speculation is that if they backed and the global then others were behind and that they couldn't possibly afford that so we've covered the story that barbara capital management out of the game because of m.f. global now talk about cooked a game max the koch brothers and m.f. global friends to the end daniel dicker an oil trader and c n b c contributor wrote 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 tell 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 is 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 what 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 and leave regular people with a mass yes insider trading you know i think again drawing on my experience as a wall street broker myself many times is called going to first call if you're on a first call basis with the firm you get the first call when you need to get a protocol 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 broad lot of craft you know but it's worth it because you have why 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 privilege with you know people are the

bandits ninety nine versus one percent within the one percent there's the ninety nine one percent there to 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 but any other interesting thing max is that of course the koch brothers finance the tea party which is considered the protest group of the right now they've got the occupy wall street crowd that is being painted as the 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 the one percent of the one percent there on the same team they work together john chorus line health. the cooke brothers theoretically 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 in the bottom ninety nine point

nine percent well absolutely and you know it's someplace not going to stop so all the presidents. realize that there person some in america is a nation of three hundred twenty nine million presidents and they need a proper present revolt but there they don't want to think of themselves as peasants they're the delaying the egg they're deferring the inevitable well max we are in london and it is the home of the peasant revolts the failed as a revolt i say usually fails throughout history the big one in thirteen eighty one that failed the one successful one of course was the one nine hundred ninety. which traced the trail of the thirteen eighty one has a revolt ending in right behind to 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 was a lie to this notion that the taxpayers are going to be paid back by these bailouts the taxpayers are going to have massive losses and somebody like richard branson gets a massive gift because you 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 in multi billion dollar gift and say oh we love your plan here are big shiny teeth can you make our pranks look like they're not corrupt who did you want for a billion dollar gift richard branson and so he's a sitting there like yeah yeah i'll take the gift you know sure but you don't need to have a blond haired 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 heiress you know cameron is just so full of himself and he can't see. his own disingenuousness he's just like you're completely an origami has folded up in the contortions of his own lies of his and he's a total betrayal to his class these people the institutions he supposed to be representing and cameron 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 drop a split into two parts the solvent good bank and a bad bank which took on the company's risk your liabilities tolling 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 the dollar on the pound in this case and that's twenty one billion pounds worth that the taxpayers stuck with richard branson gets the good assets he gets it for half price of what the taxpayer

put in it's worth a whole lot more than half a billion pounds these so-called bad bank concept they have on their 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 there were 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 to get a bad bank the assets are worth nothing simply right off the bat that's the bankers made if they can't pay it back that's what they made then they need to be punished in some way take them off get out of the banking business for a long thing where you continue with the banking business and the already proven they are nothing but larsen istic leaching 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 next i let's show you this headline here. millions to lose out as benefits are curbed so there's going to be a billion pounds and benefits and because that benefits are no longer going to be linked to inflation so this is what you call financial repression some might call it financial pression 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 and. the cuts are quite significant but how much they're going to cut from their benefits right well 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 in a situations through where they came they rotted ok we're going to reopen those institutions put the disabled people back on their little rock the death but there are many more to form because cameron to take well well max they do know 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 play should not slow because of all the money printing to bail out the banks quantitative easing of money printing bails of banks but the banks don't 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 especially the intent of quantitative easing it is in 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 and the mirrors you see that billions in austerity take it out of the pockets of folks to 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 blond hair and shiny team i suggest everyone in britain die they're a blonde and get paid shiny teeth and you too can be a billionaire all right stay here or thanks so much for being on the kaiser report hotelier here are your perfect thank you max states much more coming your way so stay right there.

mission. critical three. three. three. three stews free. meals for your media projects free media current t.v. dot com. i am not surprised and welcome back to the kaiser report let's turn to richard thomas he's an independent radio journalist richard thomas welcome to the cause the

report hello max pleasures in sochi all right richard you've been reporting from occupy l. actually the london stock exchange sense of began tell us how the occupation began work stands today in terms of the concerns and lists of demands or goals ok so. sudden october fifteenth there was an announcement to take the london stock exchange and presidents to square this idea floated about a week before hand when you can cause another activist staged an occupation of westminster bridge in an attempt to ward government attempts to fully privatised any national health 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 and started on wall street and then it fanned out all over the world and look like i wouldn't necessarily say that i mean i think the thing that twenty four hours itself was the occupier movement is obviously north

north american perhaps you know reaching. but of course i mean i think because but for the disney i mean because. the fifty movements in madrid and barcelona which was in tune inspired of course by events and so he and square and egypt and so warm and i think it's the message the influence of the arab spring and the way that that's sort of played into the into europe. and then go to cross the atlantic then you can probably movement happen in most regions and quickly and maybe taking back here. i think as far as i'm aware i think that some extent there's also the hands involved here as well the thing you can cook and go but if nothing else an advisory role to play here of course they will say let's put your complexion of space let me ask you this i'm 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 of the eurozone is just playing into goldman sachs and rick. goldman sachs is now putting their apparatchiks in charge of italy in charge of greece they're active in ireland will be active in spain so they're just strengthening their hand if anything they're using this chaos to just strength of their hand out right now going back a few decades couple of decades i remember in apartheid south africa it wasn't all there was a full on global boycott of barclays bank that in fact the world stood up and there was 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 you. i don't think that's true at all i mean i think it is happening on a political scale i also think it's wrong to homogenize it's the those involved as

far as i have experienced it either go in there in a journalistic could present to you of course go in the art of interest and socialize and it's a very very very few of them and some pumpkin broadchurch there are people who would leap reformists they want capitalism to be interested in the they want to completely smash the snowy you know it's really very prudent a lot of people who are finding. the selves in front of each other and underdeveloped in the critique that we innately feel but i think the naivety of that you might find present is something that's been kind of like remarked upon and i think naivety 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 be hearing from you and i also think. maybe it might be a rule used to strike too much of

a comparison with what it's like to sort of live under apartheid i do agree that there is definitely a disparity. between those with with wealth 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 would be thirty five percent upwards of three hundred fifty percent but these payday loans so it's a bit of a financial part side or financial pressure but i want to go back to one nine hundred ninety two the poll tax riots here nikkei because this is when the u.k. population really stood out rose up and pushed back against the thatcher era regulations and initiatives of that time and it always has. in fact do you think in the near term just something volatile is that richard thomas yes we've already been there for good you know we have the magical moment when the fourth wall was broken

at millbank the journalist had been hanged quote for food through the shattering of loss of confidence readers and i mean let's not forget the momentous events that took place in whom august this year i believe it was august which you learned there with the london riots. we were already there you know you wait there it's the mission is really kicking hard with people about the benefits taken when they basically can't afford to eat people who can really kick off people. who grateful that sort of thing and they have no faith institutions of power i noticed when i mention those two words poll tax suddenly the energy level just skyrockets and people are very revenue no for this moment and mason pretty good three other people right now let me ask you this question going to stacey 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. government 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 order you know it's astonishing and it's a lose lose situation i could understand it i mean the austerity budget is removing removing benefits should be no social services there's no growth there's no joke creation is like a million people young people who are employed at the moon when there is no way to go and they've got nothing to do so it's the people who can't go but they fed up with the crap vote. reality that's foisted upon them anyway and they're fed up with the crap with rare weak precarious future that's forced upon them as well you know

rod you know you get you 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 it is even to let 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 camera cars they like attack on public service and people are going to get more moved angry i would hope anyway and you know this this if it responsibility is one civic responsibility yeah well there is an underlying economic case to be made public service. 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's some economy 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 is what cameron is doing is committing baby aside on the next generation of entrepreneurs in favor of the richard branson has got a gun to cameron said and says give me half a billion pounds it as a gift or we're going to take out another portion of the european economy but without the london being the center of the global money laundering rackets of 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 over the camera is not going to chase down you know terrorists like for example of the financial terrorists that destroyed iceland are currently have safe harbor in london while dealing songes being deported of course cameron lets the terrorist have safe harbor in london should cameron what should he go after the terrorists or is terrorism just too much part of the economy here in

u.k. can't get rid of it without destroying everything i think you have to say really you could just push you to terrorists in some sort of symbolic way you mean you know you know it's. it's not just those individuals 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 like david cameron are not acting or anything you know the thing about the thing about pools the thing about zuccotti park the thing about the thing about portland the thing about to you the thing about madrid the thing about barcelona and. hundreds and hundreds and hundreds of other occupations also it's worth mentioning there's a lot of other work patients occurring in public spaces around the u.k. is that it whether it's by the one percent of the ninety nine percent it is obviously cause to do 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 their

not dos are pros they want a much more kinetic kind nomic system. active engagement with with politics but not necessarily the form of politics that were. plentiful first i mean if you think about it it's just the parliamentary parliamentary model we have feels like such an anachronism in a world where you crowd source your entertainment i mean the idea that you as this case now is quite uncommon immense they'd be fixed for you governments to sit and wait to choose between a word to a free a for a five a six it sounds like paper it's not. versions of the same boreen drab centrist kind of capitalist are ideological factions it is not satisfying to people you know it let me get in that for a second we've got about a minute left and i want to watch to comment on what you see happening in the next couple of years on the culture side because of course during the thatcher era the

culture of music in particular in the u.k. was explosive and world beating yes of course the sex pistols and the clash another fantastic acts of that era are we heading into a cultural rather silence as a result of the chair 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 a lot of projects and to create the occupied a space like emerging with will shoot studios and saw in terms of music i think there's a new awful lot of interest in. a very engaged political with a slower pace p. what you also have is a radical rethinking of. radical reengagement with the statics you know 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 something right this part of creation of wealth over the past twenty or thirty years or squeezed out artists and sounds and has collapsed and else can

require artists ultimately. 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 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 if you want to send me an e-mail at kaiser report at r t t v dot are you follow me on twitter max kaiser you can follow states you ever do on twitter but follow me on twitter and so next time nice guys are saying well. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something

else and hear or see some other part of it and realize that everything you thought you knew you don't i'm tom harpur welcome to the big picture. world. series technology innovation called the least of moments around russia we've gone to the future covered.