three stooges three. three broadcast in video for your media project three medio dog r t dot com. started the headlines for. a record number of egyptians turned up to cast their votes in the country's first parliamentary elections since president barack comes on the ten days of tension and violence playing more than forty lives. and un report accuses the syrian regime of human rights violations but inspectors were refused access to the country using any eyewitness accounts as evidence becomes just a mask because he also faces new economic sanctions from the new and arab league. eastern control as the e.u.'s financial ministers are set to meet desponding debt

crisis china's europe's economy is growing fast. but next the kaiser report financial guru is next and stacy discuss those looking for italian gold and another failed debt auction in germany. hi i'm max kaiser this is the kaiser report there's another big battle going on between academics and economists versus people who really know something about the economy and the way markets work stacy herbert tell us more max well we just came

off thanksgiving that's my first headline thanksgiving tally lunatics and hacks win as gold up nineteen point three percent year today s. and p. down seven point five percent so this is from zero hedge and they're referring to nouriel roubini who called those who believe in gold as lunatics and hacks of course they show this chart where you see the s. and p. is down seven and a half percent gold is up nineteen point three percent and yet from the propaganda pushed by the media you would think it was the opposite right well roubini is an academic who has models that he believes the economy should fit into but it never works out the way his model suggest and as a result he gives horrible advice in terms of what the policy makers should do he's one of these guys that thinks that the status quo needs to be preserved just keep doing more of the same but do it bigger obviously he's one of these guys who

are digging a hole the solution is to keep digging so let's turn to this next headline from october i want to turn back to something about nouriel roubini economist nouriel roubini is firm is for sale it has over eighty five employees and is still losing money according to. article max the firm is projected to have revenues of fourteen million dollars this year and it will post a loss of roughly two million dollars and projects eight percent revenue growth into next year followed by forty percent revenue growth and two thousand and thirteen so he's lost money year after year after year after year after year after year after year ok we know that but look at his projections for forty percent revenue growth and twenty thirteen it could be true max if you look at the fact that technocrats around the world are taking over where democratically elected leaders used to be so technocrats would in fact hire the likes of nouriel roubini because nouriel roubini provides research that validates their false theories plus

they predicted that technocrats and banks would take over these economies because the markets in the economies that are underlying them are broken and just like when they watch or a clock breaks you can predict what time it will sell at any given time in the future because it's broken same thing with these markets they're not functioning as price discovery mechanisms they're simply totally shattered to smithereens and they're being used as a front to channel wealth out of the mouse constituencies of the people into the pockets of the few and their useful idiot front man like roubini and max i've talked about the technocrats taking over in europe and here is a prediction you predicted right here on the kaiser report and this is from the financial times the short view by james mackintosh and apparently the european commission released the paper in which they suggest one of three solutions to the debt crisis and guess which one of them is well i know because i read the f.t.

they are suggesting that italy and other eurozone countries put up their gold to collateralize a new round of fake bonds collateralized by now they want to pick the pockets of these countries for their gold i predicted that how could i predict. because these markets are centrally broken and we are watching a clip talker see it's very obvious to predict how a cancer will predict because it's cancer so therefore kleptocrats of course will want to steal italy's gold that was easy to predict because in a club to kratz well according to the article italy has the third biggest reserves of two thousand four hundred fifty one point eight tons worth almost one hundred billion euros if that was used as collateral for the first loss portion of a bond say the first twenty percent it could support issuance of five hundred billion euros coincidentally italy needs four hundred ninety eight billion euros to repay maturing debt between now and twenty fourteen right yes the numbers work out

elegantly because that's what happens when you start talking about gold and silver they're quite precious and elegant by their own existence but here's what i wanted to say about that you say the gold used to collateralize all of these euro bonds what in fact make the eurozone and the euro somewhat attractive over the dollar because the dollar really is backed by nothing and there's about ten thousand tons of gold in all of europe so the u.s. will have to retaliate by attacking the eurozone and in fact they are waging a preemptive attack on the eurozone by selling off euro zone bonds right now that's why you so you have these so-called bond vigilantes in europe attacking these countries right now because they fear that europe will go to the gold and this will suck capital out of the u.s. even more than is being sucked out of the u.s. so the currency wars are on there happening now well a few things they're ok now in fact i think it's the opposite in terms of the

elegance of gold i think is the elegance of criminal rackets and i think the design was we see that italy has two thousand four hundred fifty one point eight tons of gold how can we steal their gold and conveniently enough. exactly the precise euro amount they need is the exact euro amount of all of their gold i think that's a way to steal to take their gold it was precisely designed like that that's right italy has their own gold by the way unlike germany where sixty percent of the new york you know if they go after italy's gold to buttress to euro bond this will trigger germany's panic of their own gold which is held in new york and that we're going to see even more tension between germany the u.s. and the u.k. the animosities from world war two of course are still festering and the other thing is you said that of a gold backed euro bond i think that's a way to steal the gold of europe instead a better method for italy would be to drop out of the euro and have

a gold backed currency and gold backed lira that would be a way better a strategic move on their part for in a currency wars of course that's why they very quickly put in this guy monti to run italy big instead of having somebody who is a sub who is representative of the people's interest remember his nickname is three card monte he likes to shuffle the cards around and hide the money and steal all the money because he's a charlatan and of course i mean the f.t. does know that this plan of backing the euro bonds with the nation's gold it might even backfire as investors wonder if the losses could exceed the twenty percent covered by the gold of course the losses will exceed twenty percent because the plan is to take the gold yes of course ultimately the kleptocrats just want to steal the gold because they realize that in this day leverage world of collapsing fear currencies he who has the most gold wins and the central banks of course are aggressively buying gold for the first time in forty years with that germany of course has the biggest gold reserves in europe as you say they are all held in

mostly in new york germany's auction disaster serves crisis concern so germany failed to get bids for thirty five percent of the ten year bonds offered for sale last week propelling borrowing costs in europe pyar. and the euro lower on concerns the region's debt crisis is driving away investors mark grant a managing director at southwest security says this option is nothing short of a disaster for germany if the strongest nation in europe has this kind of difficulty raising capital one shutters concerning the upcoming auctions and other european nations yes and the thing about that is the germany has been very critical of this idea of the e.c.b. issuing bonds and then having the e.c.b. monetize those bonds buying back their own bonds but as a result of this failed auction of buns the bundesbank has been actually buying back its own paper in the open market so germany what's good for germany is not good for the eurozone apparently again showing this incredible split between

germany and the rest of the europe of the rest of the world because they're pursuing self-interest really at the expense of everyone else now it's germany is out of control so german yields are higher than the u.k. which is just unprecedented and of course if you know that just even a cursory glance of their economies the u.k. has no economy literally it's just financial fraud and that's it germany has an economy that actually builds wealth and creates wealth and yet there yields are higher than the u.k. so this could be part of the financial war we know merkel and cameron are in a little bit of a tit for tat you know that in the currency wars the object of for every country is to drive their currency cheaper down lower beggar thy neighbor so the fact of the u.k. is trading above germany shows they're losing the currency wars the idea is to get it cheaper so they're losing on the surface it looks like that's a good thing but actually the currency wars in this particular phase it's a bad thing well speaking of currency wars a lot of them we are to as monopoly money correct that's correct well as investors

flee group on outlook for i.p.o.'s darkens so according to data from renaissance capital the technology sector has seen forty one i.p.o.'s this year with an average first day pop of twenty point three percent year. to date however the group has lost about thirteen point one percent in value explain this max as part of the scam you say that these i.p.o.'s are well the group on i.p.o. we've been saying on the show for weeks now leading up to the i.p.o. that it was a ponzi scheme it's a well documented ponzi scheme everyone in the financial press and on wall street knows it's a ponzi scheme but going into the i.p.o. window they have this first a pop that's manufactured by wall street as bribe money as currency money to pay off litigants to pay off politicians we know that insider trading in congress is legal so they give that to the congressmen of the trying to curry favor to do regulation and then they afterwards within a week or so as insiders get out of this piece of garbage that went public the stock of course collapses now in the case the group on its down well below its

i.p.o. price and this whole i.p.o. market has been completely undermined by the interest of the kleptocrats on wall street now this is interesting because the big one the mother of load of this whole window of i.p.o.'s facebook has yet to go public and this of course is goldman sachs your maker if they can't get that piece of garbage out of the i.p.o. window there's going to be a lot of unhappy goldman sachs partners they've already broken the law at goldman sachs by giving stock to insiders beyond what they're allowed to buy s.e.c. law and they must take it public or they will be definitely in breach of the law but of course we'll have to do is give some i.p.o. stock to congressman to rewrite the law because that's the way it works on wall street if you break the law just rewrite the law and use i.p.o. money to bribe them. well finally max there's a big strike national strike tomorrow in the u.k. and i want to finally end on this headline because it goes with our first one where where we see gold is up nineteen point three percent for they say year u.k.

incomes fall three point five percent in real terms oh and ass reveals this is the office of national statistics and they say that there's a big fall in salaries for average workers and sizable rises for senior managers according to the annual household earning survey u.k. households are facing pay cuts in real terms of more than three point five percent of salary increases fail to keep price with inflation so wages are only up one point four percent inflation is five percent max we here at the kaiser report have said that workers should tie their wages to money supply as you see with gold up nineteen point three percent is keeping pace with real inflation directors and chief executives of leading organizations enjoyed the most sizable pay rises with median earnings up fifteen percent that's exactly right people need to understand that the top one percent ties their wage to money supply growth and the bottom ninety nine percent tries to keep their wages tied to something called inflation or

the c.p.i. numbers which are useless or cooked up by government to make to hide the fact they're getting screwed if you want to be power posts to with the top one percent you need to fight for wages types of money supply growth but they supply growth of fifteen twenty percent so should your wages that's what the top c.e.o.'s do they say look what he supplies of twenty percent i mean a twenty percent rise in my wages plus a twenty percent bonus plus a twenty percent back and the bonus on top of that so if you want to understand why you are so miserable and why your life sucks so badly and why you're such a loser it's because you're telling your wage to inflation and c.p.i. numbers instead of money supply numbers ok station number thank so much because a report thank you max don't go away much more coming your way so stay right there .

thank you. welcome back to the kaiser report imax kaiser time now to go to ireland and speak with mark o'byrne he's the executive director of gold corps mark welcome to the kaiser report. fantastic now mark the european commission i suggested that weaker european countries could back their bonds with their gold that's in the euro zone gets back at the end of this crisis that most of europe's gold will have been transferred to the very banks that caused the crisis well it's quite possible the

bottom line is the amount of debt that we have in the world and we have to get fixated on the days they develop when we could squeeze the next week it's only spain and they now are the s. and p. and i.m.f. republicans are. sort of focusing on the trees and not seeing the wood and what is that we have a global debt crisis as a matter of preference in the world as a strain on coal and i was increases my seventy one very very gradually until recently when it exponential and basically the levels of that are so huge that even if they did try to. use our bonds you know the whole notion of. bonsa collateral i mean looking at it legally as i walked through and i have three thousand total. it's telling me in for this more visit the definitely has what i think it is that i think the people of the mountains are quite like that because i'm not going to trust the farmers also they're no longer risk free if the german government has to create money to buy their own book bonds german borders are

considered one of the safest bonds that obviously i think it is. very likely that the will move have to obama's and maybe in time even currencies and the bottom line is that it means that the price of gold will be revived again that's an interesting observation now you're saying that it's a two step process first evenly email find gold backed bonds in europe in zone as a precursor to gold back currencies with a lot of people are now talking about is the only viable solution going forward mark talk to me about the golden pyramid and how relates to what we're seeing in the global bond markets in the financial system you know it's something we've talked about for a long time actually doesn't fight we did a research piece that beginners got investing in gold because he was it's a good cover man as if the importance of owning also because those are you've ever heard of in the mainstream media so we started doing research yourself with the lies. a supposed explain things that people was through this gold pyramid it

was basically that the various ways that you can own gold. the pyramid is the most risky form of owning gold which is the likes of futures and options which are very hardy bieber's highly suspect risky instruments then as you come down the pyramid you have junior gold mining stocks will be open and the cull are the pyramids and then comes the mid level of pyramid you have likes e.t.f. solutions just been introduced around that time and then very firmly but on the pyramid at the base that's that's where it is more safety so then you get into the visual goals and you get into the personal allocator canvas and then at the very base of the pyramid which is your open foundation is actual physical hootie and you can do every physical volume and we have for a long time about the pain of that is you know there is a lot of counterpart we risk in the world and the whole point of owning gold's reporting is that you try to reduce i can't argue risk. dissident graphically illustrated by recently which was the church journal so i am saying what have you

been and actually and i think we're going to see more of that sort of scenario in in coming weeks and months i mark i was just in our land and during a time when the government of arlon the new government of arlen made the decision to pay seven hundred fifty million euro. debt back to anglo irish a bank that no longer exists and of course this was an unsecured debt and unsecured bond so a couple of questions number one are the irish people who see their own government acting in such outrageous corruption by paying off dead banks unsecured bonds aren't as that's scaring them to understand or i wouldn't say just enlightening them a little bit about the fragility of the banking system and that's moving more movement into precious metals and number two you mentioned m.f. global and of course j.p. morgan's involved that intimately they just stealing deposits they're stealing people's wealth right out of their accounts all across europe people are pulling

money out of the thieving banks is this driving a lot of the movement into precious metals and if so is there a tipping point where the banks own larceny kills them you see them saying that they're they they're stealing money outright and people are taking deposits out at what point do they just collapse under the weight of their own fraud mark here absolutely there is a risk for it also comes to sell her you know because people agrees with this was a system in our own. it's very slow or maybe it's been very slow to join the dots and even to date a lot of everybody who's orwell worried about your. people dismiss as kneejerk reaction we will go out on the side of my family while me will cover many of the certain i move her money into dollars her money and circle some of your currency if people are going to toss you the global nature of this crisis but marc marc let me jump in here for a second because you say people are slow to connect the dots it's institutional fraud conducted by a parade of of institutionalized bank banks ters soon are trained

in the art of deception in arlon recently they they realized they did the fraud and deception in the catholic church as part of the murphy report in the paedophile scandal and they pulled their there that their embassy out of the vatican a great great political risk so why can't the irish people see the same kind of financial buggery going on in their financial institutions enough to pull out of the financial institutions why can't they still make the connection they're getting used and abused by the same types of people what what why they're so slow to accept financial rape in this case what's the problem why can't they see that i think it's you know her interests in parallel you make an error recovery church it was very very obvious and it was very few people have a governess of people who are however church sure basically who could justify our church that you know it was very clear very obvious that people whereas on the buying side there are still

a lot of people who were there at stockholm syndrome i heard you talk about before or whether it's. just you know the big line believe in the system and there is almost an element of don't we don't want you know if we want to make these things even the neighbors might get restless and they might pick among you have a bite of everything you know and the so there's a lot of their asses the experts the so-called experts actually got us into this mess many of whom both in the economist who speak about banks because who work for certain institutions the people in the medium sells the expensive completely on. estimate these risks and move people who falls are secure and i think that's a large part of the people who if the people who realize the reality situation and . most along with think that when the advice of hollywood for the version of the perfect themselves or their families you know it's important because if they felt in reality over the last seven or eight nine ten years then we may have gotten rid of all the access the banking system our or the you know we might have them might

be some sort of democratic control but that never happens and therefore the amounts are getting worse and worse all the time you know and i mean also in the it goes mean that the paul krugman himself who warned of a few weeks ago who is the great economist to the sounds that would be fine now he's want to make sure going to bankrupt and i thought that might be a warning now horror for people who even doctors seem to waken up some of the so-called experts so it's. obvious towards the status quo is that people are saying well let's get shoot us all some of the folks in which don't worry they things don't we don't want to be scaremongering you know and it's nonsense and we have to be able to reality situation is and this in part because of the replies we've done to this. will be needs at the re a really scary situation let's talk a little bit about gold how much gold does ireland have if any mark o'brien littler non i think those told at one stage was forty to fifty homes post and whatever go

we have i think it's well an issue. with the e.c.b. . i think this is a people who've put the request on a piece of information on the seat of foreign players the bios and the reserves like a lot of central banks often operate kampelman is a huge lack of transparency that we don't actually know you know. the higher factions don't have. the central banks ok so it's not like adam recent revelation by the new government that they thought they had. at a multi billion dollar hole in the balance sheet but now they found a multi-billion dollar credit in the balance sheet i believe they they pointed to leprechauns as the reason for that sudden discovery so maybe they have a goal that arlen will have to ask the leprechauns let me ask this about now when are they going to be the first to leave the euro doesn't sound like they've got the spine for it what do you think at this moment so am i but i think ultimately it

will become a fairy company in the mean of the long term but right now i don't think i think. is quite akin to the theme of all the work there's lots of the same advisors there in the department of finance these are people who have got us into this mess you know you don't see the who are not i mean less and less where i'm a forcefully than your currency is you take advice from both of them from oversold holdings my experts who do not really have the national interest that are sure if they have more. banking interests are so i promise see that changing our arms and unfortunately what i think it may what may happen is that the germans may pursue things and i was very made off go by the bush marketing. medium or like this is not over and they are going to the homes are so beautifully house the greek situation i think the greeks it was almost certain that there was a factor drachma maybe carry stuff easy choice and example all. of greece

were going on the drachma experience or advice on the possibly worse as an example that would have made you consider going back to their local national currency so when the irish government recently was begging the i.m.f. for a little debt relief quite you know embarrassingly so and is that just for lip service they don't really mean it right because they'll don't do it out of the i.m.f. tells them to do it they're not actually going to impose any they're not like iceland right there ireland is not iceland they don't know how to stand up to a banker right that's pure lip service we shouldn't take that and. as a as it as a best efforts at all correct boil i hope to god it's not good service but so far a lot of what the media has with its service happens seems that you know no have no say i mean the house that they have to threaten and they have to have a real i think that what we should have been doing it should have crimp in quotes should have a place whereby you know it's a regular success that you know less these days that's absolutely odious religious

stuff that people should be vetting at german banks french accent british banks and that's what's happening people say are. the irish people are so expensive bailing out these international banks. that it's not that realize that you know so the bottom line is that people are beginning to wake up so i think we are now more spineless and anyone else in the world and there's a lack of awareness of the eleven and i was that. situation but that is beginning to change. we do yeah we do need our leaders to step up and to defend our national interests and to look after the citizens of our various democracies well you can create a new county in ireland county austerity all right michael byrne right a time thanks so much for being on the kaiser report thank you max all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacey have i don't thank my guest mark o'beirne of goldcorp if you want to send me an e-mail please do so ties are reporting r t t v dot are you sure you can follow

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