if they are fully implemented on july first we're going to close down the strait of hormuz as a reaction this is something that they need to see terms of their internal public opinion because they're being pressured all the time by the europeans the americans and europeans any rilya eighty million iraqis are asking themselves what is our government doing to defend this in effect that we have the right to to develop a peaceful nuclear program and there is no evidence anywhere by the i.a.e.a. by national intelligence estimates in the united states that they are developing a nuclear weapon. but we're always interested in your opinion today were asking about the e.u. ban on iran's oil well up to r.t. dot com to take part in our latest web poll. more than half of you believe it will give china all of iran's oil and cheaper that's no quarter think it will bring europe's economy to a halt nineteen percent say homemade russia the number one boss a part of the e.u. a minority believe it or that iran's nuclear program will go on line to have your

say. today marks one year since the deadly bombing of moscow's don't yet have an airport thirty seven people were killed in the blast carried out by suicide bomber at the international arrivals hall investigators later identified the suicide bombers are twenty rows from brussels republic of english at a train by is the most terrorists in the north caucasus region seventeen militants linked to the attack were killed in special operations last year before detained one of the world's most wanted terrorist a moral who claimed responsibility for masterminding the bombing is to only run the tack was followed by an increase in security levels at major transport hubs across the country. firemen standing by houses bird police watching while people drown a spate of real life incidents in the united states a spot of concern of what kind of society is becoming this kind of chicken reports sticking to the rules and fear of litigation appear to be trumping care and

compassion. jeanne chronics house burned down to ashes as firefighters stood by and just watched they refused to save mr chronics home because he hadn't paid a seventy five dollars fire fee that the county requires i thought they'd come out and put it out maybe if you hadn't but i decided in five hours but i want her home as the house went up in flames the cryonics were begging the firefighters to make an exception saying they were ready to pay whatever it took to put out the blaze but they were told it was too late thanks my mother for my mother's my grandmother's my great grandmother's well we're in the house same happened to vicki belle from tennessee firefighters stood by and idly watched her trailer home burn because she too hadn't paid the seventy five dollars fee no one said they were in fact dispatched and that they showed they were all safe. in the us foreign policy varies from state to state from county to county in south fulton tennessee

if you don't pay you're out of luck anybody that's not inside the city limits of self and to service that we offer of a excepted or go down behind numerous similar incidents lies a problem rigid local rules versus the responsibility of the government to help its citizens when they're in trouble or rather versus basic human compassion we're really poor in terms of humanity i mean when it's seventy five dollars that is the more important thing and i get in a situation like this it just shows you that we've become far too concerned about about every single dollar and you know and also that it just shows it's really kind of it's an all about me you know we just don't live in the community anymore this is like there's no sense of this like shared responsibility for the individuals in that community in california police and firemen watch the man drown saying they didn't have proper certifications for water rescue which would leave them open to possible lawsuits if they attempted to save him city officials blamed the incident

on budget cuts if you're so as the move. then an hour long tragedy unfolded authorities stood there and did nothing so this is the part where rules and regulations defy logic that was the end result of body washing up to the shore. so you think about it well it's horrible how can we allow that to happen in the us is a very litigious society we have more lawyers per capita per capita than any other country and i think the world and so you know when you have to worry when you're a rescuer and you have to worry about a watch and you cannot rescue a person as a result i mean that's that's really a problem if the firefighters had rescued the man even saved his life but somehow maybe broke a rib or hurt him in some other way you know they stand to be sued in court and that's just the way our system works even after the serve brought raymond zack's body closer to the shore firefighters refused to get in the water and retrieve the corpse so they waited until

a passer by volunteered to do the job the logic you don't get anything unless you pay makes sense to a lot of americans but when you have money and rules on one side of the scale and humanity the human urge to help on the other and money wins this is when one gets the says that something is wrong with the way the system works i'm going to check our reporting from washington our team. with some well news in brief for you this hour first to italy's west coast the bodies of two women have been recovered from the capsized costa concordia cruise ship when the confirmed death toll to fifteen rescue teams are continuing the search for seventeen people still missing engineers are expected to begin pumping fuel from the ship within the next twenty four hours to avoid a potential spill the vessel is holding around one point nine million liters of fuel and it's thirteen tanks. to a kenyan presidential candidates will stand trial at the hague on charges of crimes

against humanity and then a monk for prominent kenyans accused of orchestra. in a deadly wave of violence for the country's two thousand and seven election more than twelve hundred people were killed during the country's post-election trashes more than a million forced to flee no date has been set for the troubles. twin car bomb attacks have killed eight people and injured thirty two in iraq the first blast targeted an early morning gathering of workers in the main a shia area. minutes later a car blew up near a pastry shop in the same district or the hundred sixty people have been killed in summer attacks since the beginning. going on kareena brings us the latest business news. thank you carrie hello and welcome to our business update this hour or so is continuing monday's gains following the e.u.'s decision to adopt and then bargo

against iran over its nuclear program all the imports from iran to europe should stop in july as a response to the sanctions terrorist threatening to quos the strait of hormuz through which twenty percent of the world's or express pass however jorge mounted back from platts believes that the warning and the embargo are more of a negotiation point. the ward being also says that there would be a review in may so they're almost means that i am ready to do something in july but i can change my mind in may i don't think anybody wants these things to happen really because europe right now is very weak financially economically and the last thing that europe really wants is a confrontation because that will be even more disruptive for the economy here the oil that was supposed to come to europe from iran will go to asia on oil that was going to asia from the location start west africa or even russia will now go to

europe so europe can always replace the oil that's not the issue the issue is the level of pain. let's look at the numbers now all a slug joining the one hundred dollars a barrel in new york speculation that you had stockpiles again last week countered concern that iran may respond to the one bongo blend is close to one hundred eleven dollars per barrel was trading at over ninety nine dollars. and now into equities first asia where shares advance modestly with energy firms higher following the european m are going in or japan's inpex over three percent in the consumer electronics sector sony is losing almost three percent of all reports about its tie up with the troubled olympos hong kong and several other asian stock markets are closed for the lunar new year holiday here in russia markets are trading lower the r.t.s. is losing over a quarter of a percent in the first minutes of trading while the my six is shedding half a percent let's take a look at some individual share moves on the my six most of the blue chips are

lower with banking and energy stocks and they are the choir's it is losing around half a percent down a third of a percent the company plans to invest more than one billion dollars. in the oil rich travesty tell field in siberia chemical group is among the gainers it's reported on. five percent increase in production for the year two thousand and eleven michael stein says that the upcoming davos economic forum a bomb a speech in the u.s. corporate results in investors busy all week long. given the improved outlook for the oil price because the iran news that we saw yesterday and given the very low valuations for russia generally and the fact that many of our clients continue to see fund flows into the russian dedicated funds we think that the market will gradually melt higher that's it investors will pay attention to global events and this week there are a lot of them investors will look at the f one c. meeting coming up president barack obama's speech in his state of the nation's

address in addition we've got the world economic forum and more than one hundred twenty companies in the united states are releasing their fourth quarter financial results so will be quite a busy week on the external side and then here at home in russia investors and pay close attention to macro data most notably the unemployment report in russia for december in addition to industrial production figures on the corporate side will also see operating updates from metals and mining companies including natural polish and m.k. . the business is for this but does stay with us in the next.

wealthy british style. that's not on the tires. market why not come to. find out what's really happening to the global economy with mike's cars or for a no holds barred look at the global financial headlines tune into cars a report on our.

time for the headlines now damascus rejects are of the calls for president assad to step down and form a new government the opposition has decided to extend its observer mission to the country as a ten month long unrest in syria rages on. new violence in libya a green flag flies over bani walid daffyd on this clash with interim government forces as fears grow of a slide back into civil war. and derided for being one sided the extradition laws

between the u.s. and u.k. designed to help bring terror suspects to justice faces fresh calls for a view made british anger it's a one way street american jails. discuss the upcoming economic forum in davos where the world's rich and powerful actually do anything useful. max kaiser this is the kaiser report oh that most of the starting i think tomorrow this is the major global swap meet for dealers of weapons of mass financial destruction and they compare notes on how to destroy each other's economies for fun

and profit states herbert max if you do a google search for davros two thousand and twelve you will find out why the banks tours are behind so why they want soap but because as you see the first two results are world economic forum that's actually the group that puts on dab those number three result is from max keiser dot com that's before say and then before the telegraph before the guardian before all the international news media where first and what does it link to but original artwork from william bond's i seven you can see this right here davus two thousand and twelve too many banker species one planet no future world poncing nomic summit many species i've got the gorillas the central bankers they've got the primary dealers i think there's twenty eight of them these are the ferrets that are kind of. you know met manipulating markets to try to ease that push of quantitative easing into the global economy well

let's turn to some banker species in the headline the first one the correlation of laughter f.o. mc meetings this is the central banker species the f o m c is the federal open market committee at which the polar bear oh sets global interest rates well apparently somebody had the clever idea of actually looking through the transcripts of the meetings and they found that the number of recorded laughs actually increased in frequency from two thousand to two thousand and six the peak of the global financial bubble in two thousand and one f o m c erupted into laughter sixteen point five times per meeting on average in two thousand and three it was over nineteen in two thousand and five twenty seven and then in two thousand and six the f o m c burst into laughter nearly forty four times per meeting yes because they should be printing money or doing something responsible but instead they're stroking this money. who are federal reserve

germans who you know the problem is that the stuff can make you see hallucinations which i'm not this is the guy the sound of the stone and saying. well. this is some quality money printing i can't believe this quantitative easing work and i get a nickel bag of this and you think you got high on your money. well yes so they were laughing all the way to the top here's another species of banker max it looks like these people are followers of maybe timothy leary goldman sachs enters a billion pound parallel pay universe a billion pound parallel universe drop out and pay or suffer huge bonus until they've larry said that in between as a hit well of course many people. get a bad batch of l.s.d. often are found standing on the edge of buildings saying i'm god i can fly but that's tim geithner he's owner of the new york fed i'm flying look at things in

titanic he isn't titanic the entire economy sinking anything is getting a hug by leonardo dicaprio while payout by investment bank equating to two hundred thirty eight thousand per employee provokes anger among unions in the u.k. but you always do the same accept they have they would have to go off planet to pay off all the derivatives they've spun now well look i mean the unions are upset but the unions have no place at the table the unions have been. taken out of the equation many years ago this is a battle between savers versus speculators that's the battle unions and jobs are gone it's only about people who have capital want to save and get an interest rate on savings versus borrowers want to low interest rate on those things to borrow and speculate get bailed out actually max ok this brings me to the next species the banker and that's the global organizations like the i.m.f. and world bank because the i.m.f. christine lagarde said that we need to bring unions back to the table because i am a forums of threat to global economies posed by austerity drives reflecting the

i.m.f. concern about over aggressive deficit reduction programs the joint statement said governments should manage fiscal consolidation to promote rather than reduce prospects for growth and employment it should be applied and socially responsible manner well let me explain something i'll give you a lesson in economics in twenty seconds it's centrally planned its central bank plan its low interest rates to favor speculators to the point where unsustainability has now gripped the global economy by the throat forcing one of two outcomes and there are only one of two outcomes a bank central banks begin to raise interest rates which would in fact spur interbank lending. which would be inflationary which is what they want to curb this deflationary nightmare or big they raise minimum wage they double or triple minimum

wage that would also cause inflation that would also cure the problem those are the only two outcomes raise rates and interbank lending or raise minimum wage to suggest anything else. is is only favoring the speculators and the borrowers to the detriment of everybody else who's not one of those people who are borrowing with impunity with zero risk remember they're not taking risks like mitt romney over you know graduate of being capital when they were out there in the private equity space slashing and burning companies left and right remember he took his zero risk his cost of capital was zero and the cost of making a mistake was zero he's just a guy who steals money who doesn't drink coffee so christine lagarde is saying that governments in europe should stop cutting things and actually start investing and in particular investments to target civilians and education equip people for the

future but of course the last thirty years of these banking species running the world has been the exact opposite it's been the bain capital model of extracting as much equity as possible from your community including the capital of human knowledge right well kristie look are too good for enough ammunition to duke it out there at the i.m.f. level of sums some kind of gravity to us if they're not going to raise the wages for workers or give them some education then you've got to start raising rates at the central bank level those are your two choices so present it in this way and give them the you know either or solution because if she just goes down one path and leaves the other one completely on guarded she will not make any traction in her arguments whatsoever of course the other way to look at it is that the i.m.f. the day before had only requested an additional six hundred billion dollars from the taxpayers of the world so maybe she's trying to pretend to them make

a false promise that hey we're going to invest back in new and hopefully you'll have a better future oh yeah she's she's just the stupid old old the. bag she knows what to say to get people to write the checks is a good saleswoman but she's a she's she's an assassin because these policies are killing people with their collateral damage of risk balls exploding in people's faces and destroying their lives that's terrorism well the another banking species max is the famine victim hedge funds may sue greece if it tries to force loss so hedge funds are considering suing greece and the european court of human rights after greece said that they're basically demanding a fifty to sixty seventy percent haircut for these bondholders well i'm ok so the hedge funds are going to sue greece right now and then the european human rights

court right because they know that they're the ones that are heading to the hague in these human rights court so the best defense is a good oftens because they're trying to deflect their prosecutions in these human rights courts they're trying to deflect this nuremberg trial for hedge funds and private equity groups like like romney's bain capital because they know that they'll be at the head at the end of a noose so they take the off and they say oh it's the greek people need to be the greeks oh we're going to sue greece because we raped and pillaged them so going to show them i mean this is an old strategy and the greek people i'm sorry that your country has been sold to fresh food franchises and cell phone networks but hey five thousand years of history you had a good run well i just mentioned the famine victims here is the banker who's had too many munchies i guess you could say over his lifetime surely president obama is joking about this have larry summers run the world bank thing so larry summers

apparently has been is being floated as a possible world bank chief had floated floated yeah like a big giant macy's day balloon which. but the article points to a the ron suskind book confidence men and it talks about some little bits from inside that book inside the obama white house and one of the interesting things is that apparently larry summers. threw major hissy fits when he was not nominated to be ben bernanke to be the central bank chief to replace alan greenspan in particular he got very angry with timothy geithner who didn't support his nomination so this is what he wanted to be he wanted to be the pullup bureau in chief the fat cat top smoking those obama dollars who's a fatter pig is it larry summers or chris christie i have to look that up who's the biggest pig but you know the fact is that larry summers and the reader's editorials in the financial times a preposterous because he keeps harping on about the same thing for years now we

just need to increase demand increase demand increase demand by stoking the markets with more credit and giving people more means to borrow more money to go out there and demand never goes you say that there should be maybe a supply it may be a supply of manufactured goods for example maybe savings that would create capital for your capital's model he never talks about supply he only talks about demand and how to increase demand as if we're living on a planet that can support hundreds of millions of people in the us and billions of people around the world all demanding stuff and borrowing money to get that fulfill their demand but never ever actually manufacturing a single thing unless you're at foxconn eight hundred thousand slaves making i pods and i pads all day so that people in new york and flash around central park with their little gadgets making googly eyes at each other even though they're supporting slave labor you know there has been a massive supply of financial products under him a massive supply of fraudulent financial products he was actually pushing alan

greenspan to be less regulating of fraud and alan greenspan was one of the maestro's of allowing fraud to flourish as a way to provide liquidity to the markets ok let's examine that for a second a supply of financial products that are all based on debt and debt is the killer. of the economy and people demanding more debt is not the same thing as fulfilling all supplied her with a demand curve this guy larry summers is an abomination everything touches turns to garbage he uses position in government to invest in things like square that new online start up company to insider trading inside information market manipulation another terrorist christine legarde some of the egg to hang them all states never don't go away stay right there are going to talk about more stuff you to stay there .

you know sometimes you see a story and it seems so you think you understand it and then you glimpse 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 tarred as a big. welcome back to the car as a reporter i merely stated herbert we're talking about the global preeminent. for financial terroristic gather and swap ideas about financial weapons of mass

destruction out of blow up countries make money so what else you got for me those days are over well max we've already established that the regulators bankers economists and all or all of your their stowed and their own money supply i think we've shown that pretty convincingly. and they're all meeting in now here's robert johnson an economist and a former currency trader for soros another big name always appearing at davus and he says economy as a profession. how to keep economists from missing the next financial crisis notice that he says financial crisis is not financial crime wave and i think that's an important thing to think about here he says that it's all about the mathematical models in particular that we need to really look at the financial market models for instance he says tend to be constructed was building blocks that assume stable and anchored expectations but as far back as one nine hundred twenty one frank knight of the university of chicago made the useful distinction between measurable risk

and unknown unknowns which he called radical uncertainty nice point was that in a period of radical uncertainty expectations couldn't be anchored because they have nothing to latch on to well this is an ongoing debate and economics and. in ants and what people fail to understand is that the liquidity the capital that's used to fuel capitalism comes overwhelmingly from the losers the people who make losing bets the people who make losing option bets the people make losing bets on all kinds of investments that money gets recycled into the economy and gets used by those who are able to make better bets to make better use of that capital if in fact you had an economic model that would give some predictability

to outcomes then you would eliminate the entire see a speculative capital that forms the basis of what we call free market capitalism so it's very premise is faulty to the core it shows a complete lack of understanding of markets and finance it shows a slavish devotion to academic theories that have long been discredited and it shows a major media who is incapable of challenging the charlatans what i'm saying is that he's failing to account for crying and crying doesn't fit into any financial model that we are presently using if i steal your rabbit that's not in any sort of model that is going to explain how to operate the global economy well that's not necessarily true because piracy is a concept is understood was the driving force for example of the american economy the term yankee comes from a version of the dutch word for pirate or.