you so much for coming on the show and weighing in on this interesting perspective that was former cia analyst ray mcgovern well let the indefinite detention and torture begin it hasn't even been a month since president obama signed the controversial bill into law and we're now seeing it become a reality the national defense authorization act or and the a as it's called allows the government to detain and torture without trial anyone accused of having ties to terrorism and that includes u.s. citizens now one get mo prisoner has no hope of being released because of this new law most of all not want a yemeni national has spent the last ten years out of guantanamo bay where he was repeatedly tortured his attorney says he was tortured into admitting he was involved in terrorism he has been fighting to get a trial but just this month the supreme court ruled that under the new law he is able to remain detained i spoke earlier with a campaigner for ruth action they would swanson who stated more indefinite

detention and torture here in the u.s. is just a few signs of what is to come take a listen. i think it's also not a complete change that the united states has as you know long been detaining prisoners under various legal justifications and court rulings and executive orders no one has been released without the government's decision through sheer stalling and various arguments this has been the policy and the hypocrisy could not be more stark as that as the president of yemen guilty of similar offenses is brought here on the claim that it's for medical treatment as this resolution on syria argues among other things that they must release arbitrarily detained prisoners as if the united states were going to do that and of course bigger than guantanamo is baccarat where the president worsened this bill with a signing statement declaring he needed no legal process whatsoever to detain

people forever and ever. and immediately received resistance from president karzai who said turn them all over within a month. and you know when president obama signed off on this bill his good friend and i had some reservations regarding certain provisions on the regulated fan in the tanks and of suspects and one month later those concerns are already. behind bars well there was a great deal of misunderstanding in this regard as the president himself had insisted on these powers insisted on no exclusion for u.s. citizens and wanted the freedom not to ship all prisoners into military detention but to detain them and handle them through nonmilitary cia and other means as well which he called flexibility which some people might call tyranny and so he he had the bill worsened both in congress and in the conference committee and

further again through his signing statement which was obscured by the fact that in a very strange unprecedented and. and in manner he also in that same signing statement promised not to use some of the powers that he was here by creating for all future presidents of course that's not legally binding he will use these powers if he sees fit as will his successors so you're saying president obama has already broken some of the promises. well to the extent that people got the impression that he was concerned about being given the power to detain anyone or in particular u.s. citizens understanding of course that this is the very same president who openly asserts and has exercised the power to kill anyone including u.s. citizens including juveniles. that was a misunderstanding and he certainly has gone back on this which which echoes the

experience of his last presidential election during which many people understood him to be making promises that went far beyond anything he actually explicitly made and then were disappointed when he went back on those so-called promises that we are already seeing the consequences of decibel credits and people concerned about how this is an attack on on our rights here in the u.s. air is there any hope of repairing some of them are controversial aspects of the spell well there's always hope although hope has been given a horrible name by this president it's going to take a major movement that does not bow down before either party or any elected official or sit on its hands for the better part of a year because there's an election but actually pushes in a principled uncompromising strategic and nonviolent way to change these things and there is the beginning of that kind of movement but these issues are not being

discussed on u.s. television networks still thank you for doing so. david why aren't these issues being discussed on these networks than we're hearing all these debates one debate after another and we're not hearing too much about this why not. well it was an obvious in series that when the two big parties the democrats and the republicans are really on something it's not considered a controversy and it's not considered a debate or something for the news there also is very little desire to offend those who who are desired guests for talk shows there's a great tendency to to appeal to to those individuals and there there's a lack of investigative reporting and so among the confused and bewildered on this topic are members of the media themselves. now that was david swanson campaigner

for roots action. as egypt adapts to a new government tensions between the u.s. and cairo are coming to a boiling point just a few days ago americans seek refuge at the u.s. embassy in cairo egypt has banned these americans from leaving the country due to their ties to organizations that kyra suspects are behind stirring chaos and the region on the top more about what's happening in egypt i spoke to dr weil that farai is author of the coming revolution struggle for freedom in the middle east here as his take. police into something very odd is happening in egypt. the united states the administration has been among the first governments still support the uprising last year almost one year of now those uprising have begun with youth women secular groups and then soon enough you had islamist forces of course the been part of it in two elections after now there's a majority in the phantom of egypt of muslim brotherhood and their allies the

salafist the democracy agency which are funded by the us congress government have been raided ten days ago two weeks ago raided by the government which is which has been basically the result of this revolution and then a leader one of the leaders of the democracy agency the i.s.i. mr know who would sound or who does son of the secretary for transportation is now banned from leaving egypt so there is a serious crisis between the administration and and egypt today. coming under scrutiny are these and visiting egypt what are they suspected of. no charges i mean those n.g.o.s have been in egypt since two thousand and five at least the i.r.r. the one i know more about and they have been the whole year last year operating basically they are under the age of the egyptian government they have sometimes egyptian workers and american workers they train young egyptians to foreign action

for civic duties now the egyptian authorities that not reduce and why those n.g.o.s have been shut down but there is a suspicion that the government or the military council acting in agreement probably with the majority in the violence now and have held by the look of brotherhood that they want to eject those n.g.o.s that build n.g.o.s have helped to organize and want the u.s. to change now it's time for them to leave the country. well now after the elections have taken place we see the islamicists are in power over there they won big in the last elections i mean is this what the u.s. had in mind when they hope to help bring democracy to the contrary. you know what that's the biggest question of the day in washington and i think it's going to be part of the debate to come very fiercely this spring and next summer because a majority in congress of two parties and many n.g.o.s operating in washington have been pushing for the so-called arab spring a spring in egypt in the revolt in egypt a so-called of their regimes alarm as

a result of that and then instead what we see now is the islamist network should they be the muslim brotherhood or the sofa being the only ones who are actually funded by the fact that dollars coming from the gulf having this been supported by satellite there that the live t.v. and also being engaged by the administration i mean this is very odd that our administration has engaged with the muslim brotherhood even before the revolt and after the revolt and the return on what we see is a shutdown of these and you don't and you're right you have a point the result of the arab spring in egypt is not going to be immediately a secular democracy we're going to to begin. goes through a an era of islamic fundamentalism before the next wave of youth affected would rise again. and you know as tensions rise between the us and between egypt look at the bigger picture what does this mean between relations between the two countries are our the us are our close ties with egypt are they over now.

not yet i mean the council is still a partner to the u.s. forces there is a somewhere between one point eight to two billion dollars a year going to the ministry of asia but at the horizon what we see is that when the next parliament this prominent is going to form the next government it's going to have a majority of fundamentalists of fundamentalism not just the muslim brotherhood but you have the same office office we'll have and a bath at least worked with al qaida on the ban in public wants to establish a sherry on a stage where women would have less rice in the past they used to send fighters in afghanistan so there's a lot of clouds up there that needs to be dissipated before we know exactly in what direction if you egypt is going to go that are. looking now i had i mean what are your predictions for what does lie ahead for the country that is now under this transition. look egypt is basically the largest arab country the most a brotherhood in power for the first time they are going to maintain as much as

they can a friendship with the united states to get the donors of the united states so basically the military of egypt but we don't that level what we're going to see is a push by civil society by the actual people who began their revolution and lost it and i'm talking about the laptop people the google people the facebook people that middle class or lower class labor unions all these forces of reform actually have lost their evolution and those who are in charge of the new partners of the administration it all depends on also who's going to be here in the white house next turn over to continue or not this partnership with islamists that was dr weil lead fare as and be sure to tune in to the big picture it's coming up in just a half an hour tonight tom i'll tell you why we no longer have candidates running for office but interest groups and there is an energy crisis brewing in the not too far future the u.n. says the world needs to produce forty five percent more energy to match a growing global flocculation so where will it come from tom explorers but that is

going to do it for now for more on the stories we cover and you can head over to r.t. dot com slash u.s.a. you can also check out our youtube page it's youtube dot com slash r t america you can also follow me on twitter as well for now have a great night. wealthy british style. markets why not. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report. 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 everything you thought you knew you don't know i'm tom harpur welcome to the big picture. mission free cretaceous free in-store charge is free to arrangements free. three stooges free. old free broadcast quality video for your media projects a free media dog r t v dot com you. guys are this is the kaiser report. in the news.

mag that's right from barry ritholtz in the word of the day the debt or be deader is a noun and indebted consumer who is only able to pay the debt. interest each month . the debts never go away they only pay the interest they're always in debt and this applies throughout the entire economy not just on credit card debts but mortgage debts anything that touches the consumer now if you look at the bankers of course they're involved in a very interesting situation in that they never pay interest on phantom debts. they loan into existence phantom debts that are on collateralized that they themselves only understand the configuration thereof but they never have to pay interest however they get awarded norma's fees so here you have the two pillars of

society zombie debtors who never escape and clown bankers who never have to pay debt so the zombies and clones yep wherever there is a zombie debt or you can be sure there's a zombie creditor and as zombie central banker feeding the mom the fed is starving economy of interest income so warren most layer of former broker manufacturer and co-founder and distinguished research associate of the center for full employment and price stability says the fed is part of the problem rather than part of the answer this is why we have so many zombie debtors he said it would serve public purpose if the fed made it clear that in today's rate environment what's called quantitative easing in fact removes interest income from the private sector thereby functioning much like a tax and a source of what's called fiscal drag as it takes net dollars out of the economy as it reduces the federal deficit well you're right if there were not this is

on be better effect you would have a creation of interest income which would form the basis of the capitalism something called happy tall. without the capital all there is no capital losses i'm . getting them the hood disease of the capital you should have taken that conversation to max the whole world would be devoid of the zombie banker is not i want to make a protest igloo in davos that looks like fun rub noses with some of the locals or most of them go. on to a second point he said this brings up my second criticism with regards to the interest income channel lowering rates in general in the first instance merely shifts interest income from savers to borrowers but he then goes on to say that while income for savers drop by nearly the full amount of the rate cuts costs for

borrowers haven't fallen that much with the difference going to net interest margin of lenders thus you're enabling and feeding and empowering the zombie bankers and you know think of those with a capital is flowing through the economy it's a pipeline of capital if you will and the lower interest rates have the effect of the shutting down the pipeline of capital and causing deflation the central bankers are saying well we need lower interest rates to increase liquidity in the system that's patently false it shows that they have absolutely no idea how this economy works so unlike a chris whalen for example is a true banking analyst will tell you in order to get the cash flowing again you need to start to raise rates and incentivize banks to lend to each other or those creating the basis of an inflationary scenario that would create the jobs and the growth that some people say is their objective but clearly it is not but let's talk

about this point here max because you've often talked about raising rates and all the time you hear screeches of horror that this cannot possibly happen because when the fed cuts rates by five percent as it has done over the past two years we get point zero five percent taken off our interest rate so we have to pay for mortgages all the rest goes to the bankers all the rest is taken from savers and shifted to bankers so there is a vocal portion of the population who screeches and in horror and pain and their voices get heard out over the people who are savers and who could possibly provide the capital from which capitalism can once again return to the american economy. in the currency wars asymmetric they lower rates but the benefits accrue ninety nine point nine percent to the lenders the financial establishment on wall street very little little of the benefits go toward people who are in the consumer

economy who are the basis of the economy toward lowering their rates so there is no know of no benefit on the consumer side on the banking side it stifles lending within banks and creates a illiquidity which is of course contributing to the deflation and then the central banks say we don't know why there is deflation because we keep shutting off the liquidity don't understand why the taps of liquidity are drying up it shows a pattern of psychosis which i think most people now understand i think most people understand that in fact the intent is not for no money to go to the zombies because those are why would you ever want those peasant zombies to ever have any money again to pay off their debts you want them just eking eking eking out a lie a tiny tiny sort of subsistence level what you want those zombie shrieking to

empower and to enable a vastly growing sector the finance sector lloyd blankfein gets more powerful jamie diamond gets more powerful the banking sector gets more powerful exactly because of this squealing desperate zombie debtors look at all these pension accounts like cal pers for example the biggest in california one of the biggest in the world there they assume seven percent return on investments which assume interest rates of four five or six percent interest rates for them because they're less than one percent or close to zero their return last year was one percent and they're just being essential a discarded by this form of economic or financial pressure and as it's called there's a technical term for financial repression so former chief. columnist from morgan stanley asia was interviewed at davos along a similar theme as well stephen roach explains how the fed is pulling the wool over our eyes so we have a lot of squealing zombie debtors in america and the u.k. and other debt debtor nations australia canada any time the notion that rates

should be raised they shriek and it never happens well stephen roach talks to bloomberg and he talks about the fact that china is actually doing a lot better because they've introduced over a dozen marching requirement rate hikes and they've also raised rates so that real interest rates are actually in real terms positive and then he goes on to say this when he's asked whether or not this would be possible in a democracy in a democracy do those actions do there you know we truly regret paul volcker well you know but do you suppose no excellent question i mean yours told us paul but we need we need a central banker who can really deliver. the goods and we've got central bankers right now who are i think trying to pull the war as was zero interest rates in this magic called quantitative easing yes well the paul volcker example is

a good example they had the inflation they came after nixon closed the gold window and you had gold spiking in price and you had massive inflation stagflation and came in raise interest rates and set the stage for reagan reaganomics reagan just inherited everything that volcker position the head of that economy raising rates increases competition because it forces out the speculators who are merely parasitical in their behavior the bankers are just being parasites they want to lower rates higher rates would force those guys out and bring in entrepreneurs who are doing something other than just financial speculation it would be the best possible thing you could do for the u.s. and global economies to start. raising interest rates forcing out the speculator parasites and giving people with savings a return on their investments the pensions and also the effect of raising real wages so let's go on to more of this magical thinking economist versus americans a new survey finds that just twenty three percent of americans say they trust u.s.

financial system that is that as low as the earliest months of the economic crisis and sixty two percent describe themselves as angry or very angry about the nation's economic situation the highest level since march of two thousand and nine now this is a study done by the university of chicago and northwestern university they also have a specific question they asked those they surveyed and they said predicting the stock market very few investors if any can consistently make accurate predictions about whether the price of an individual stock will rise or fall on a given day economist sixty four percent strongly agreed that you can't predict markets where americans overall fifty four percent agreed that you can't predict markets that means forty six percent of americans believe that you can magically perfect where markets will go and so max does that explain to you why they might be losing money to brokers them and bankers well there's two points there the first

point is one the financial illiteracy now the fact is that rising interest rates would benefit consumers benefit the economy benefit wage earners benefit retirees benefit competition look at the comments underneath this video as it's playing on the internet right now read the comments below this video that you're watching right now look at all the comments from the financial illiterates who don't understand this basic financial concept and that is the part of the big problem the second problem is in terms of predicting stock market results and prices only broken markets are predictable markets that are functioning are unpredictable that's what makes markets the supplier of cheap capital are all the losers who can't predict out. becomes provide cheap capital for their winners if it were predictable you'd have price fixing and then you'd have more of a state can purely black heavy hand of the state controlling the entire market that's not that's not the what the market's all about the sole moniker of

prediction markets is completely false that there is no such thing markets cannot predict but let's talk about beyond prediction markets the actual financial markets that we exist in live in today in our economy because this is bizarre that that's what thirty six percent of a condom is believe you can predict outcomes and it is the maestro alan greenspan i think that helped brainwash the economy into believing that you can create outcomes with this magical wand and magical thinking but that's exactly what stephen king says indeed bunking economics is that the number one chief. is ill conceived notion of economists is that you can predict economic outcomes or market outcomes and it's hard coded into the basic textbooks of economics that somehow economics is a science like chemistry where the outcome can be predicted that's false economics is like a social science where the outcome is completely unpredictable and the second you

understand that the second you understand why ben bernanke and his crew are complete charlatans by putting forward some other theory it's simply not true look at the track record over the past ten fifteen fifty one hundred years based on the central banking theory it's been a catastrophe so as ever thanks so much for being on the kaiser report thank you matt. and albeit while our shirts match. it's a magical the go i'm much more coming away stay right there. in the.

world with. science technology innovation all the latest developments from around russia we've got the future covered. her or. her. are going to buy a max keiser welcome back to the kaiser report time now to go to london to speak with that man there leyland. management that welcome back to the kaiser report thank you max them wearing a special silver toy just you know actually now they're so over is well over twenty percent for the air and twenty twelve and it's in backwardation so first tell us

what is backwardation backwardation is the opposite of can tango normally in the precious metals market you'll find in the futures show you effectively the trading higher than spot rather than lower backwardation effectively shows that there is. extreme tightness in the silver market at the moment with seeing the spot contract trade daily it's just a smidgen higher than the front month month which is march and on and this is very very bullish and particularly in precious metals one wouldn't expect to see that and it does appear to be being created by the problems with m.f. global bear in mind that precious metals investors and most sensitive investors are overall to counterparty risk and of course what happened with m.f. global was an extreme counterparty event and that leads many people to leave the futures market in the pressure is going to the spot market which is very bullish

for twenty twelve and i see this is being a major change ok last year the powers that be the central planners of the central bankers who don't like precious metals because it makes them look stupid when the prices go up they were raising marginal quire mints and trying to get people out of this market. but at the same time m.f. global and j.p. morgan stole people's account money right out of their account so all of that work for nothing because now people are dumping their rig market j.p. morgan m.f. global accounts and buying physical and this is causing the near term price to get higher than the out outward prize so-called backwardation and this trend is clear indication of the silverball market is well in place and going much higher i would imagine men yeah absolutely and bear in mind as well we have the the second element of this through to the for.