to go to america where he would face all sorts of. serious charges it will be number of weeks before we find out the verdict and then you know possibly on to the european court of human rights possibly. possibly possibly not we'll have to see. we're talking a little earlier from london some more international news for you in brief now this lucky stars supreme court decided to charge the country's prime minister with tend to his failure to reopen old corruption case against the president if convicted use of he could face six months in jail and lose his office. demanded a reopening of the case dating back to the late one nine hundred ninety s. but the government has refused insists the president enjoys immunity from prosecution while in office. united states has made the surprise announcement that it will halt combat operations in afghanistan earlier than expected us to find secretary leon panetta said the country wants to switch to a role of supporting and training local forces before the end of next year afghan

officials claim the decision is ruin the whole transition plan and force preparations to be rushed through one thousand seven hundred american troops and tens of thousands of civilians and died since the two thousand and one invasion. a ferry carrying three hundred fifty people has sunk of papua new guinea's north coast rescuers plucked from the sea at least two hundred thirty eight survivors but others are still missing the ship's operator said it lost contact with the vessel on thursday after it sent a distress call most of the passengers a students and trainee teachers. the blunders of u.s. politicians have inspired jokes and parodies for decades with the presidential election campaign heating up there's a whole new supply of ammunition but as marina portnoy reports somebody the comments are displays of ignorance and disregard for world affairs and no laughing matter. every four years america's top job is up for grabs.

with each new election comes a new batch of candidates with compromising foreign policy credentials when i ask me who is the president of you becky becky becky becky stands banned i'm going to say you know i don't know do you know i'm afraid that it's a very hard struggle particularly given the situation on the iraq pakistan border you can actually see why russia from land here in alaska africa was a country on the brink on the brink of complete meltdown and chaos geographically illiterate us candidates have supplied comedians with endless material but all jokes aside some presidential hopefuls vying to lead the world's most powerful armed forces know very little about america's military interventions so you agree with president obama libya or. libya. forming a cohesive sentence on geopolitics can be a struggle i do not agree with the way he has for reasons. you know

that's that's a different one differentiating between friends and enemies is also a challenge obviously got to stand with our north korean allies in the case of republican candidate mitt romney mixing up presidents and prime ministers can become and i think the president represents a real threat to. the stability and peace of the world the overarching ignorance on international affairs has caused american political commentator bill maher to conclude i think anybody could be president in this country ok sort of like at this point now where i think if you're going to be it when you register to be a candidate you also have to go take a test about foreign affairs and if you fail the test we might get you one chance to take it again. and then i'm say sorry. you know for city

council in your little town in alaska if a country with the world's highest national g.d.p. is being represented by politicians with a deficit on international affairs the biggest consequence is likely to be america's credibility around the world and even who we target and let me finish this i just get lost in a blizzard of words there this is where it gets really dangerous for united states of america it's like wait a minute how could they possibly be right about terrorism how could they be right about north korea are going to be right about iran so-called nuclear program when their candidate doesn't even know that there's a north and south korea i think the us is why and so then the world has this very paranoid view of the united states because of the candidates not understanding basic facts or understanding basic principles of international law which unequivocally prohibit torture and if i were president i would be willing to use waterboarding i think it was very important to me and i think the consistent streak

of foreign policy blunders made by u.s. presidential hopefuls is quite humorous but it could also be considered a national tragedy if most candidates campaigning to be leader of the so-called free world simply don't know enough about the world outside of america's borders. r.t. new york. twenty three minutes past the hour here in the russian capital business is next with dmitri with a look at the main news stories we surely. when welcome to business out see a radical improvement in the business climate will be the urgent task of the next administration and wins the presidency in march speaking at the troika dialog forum in moscow the prime minister said the country needs to jump from one hundred and twenty if to twenty of place and terms of its investment climate business hotkeys money in the cost reports that sounded like a school reports

a bright student but more excel bad must try harder not to me it was in the highlighted once again that russia has a lot of potential but it is failing to get the results he said most of the new studies place the country in the top five in terms of its potential its a get more investment but in reality its investment climate places russia in the budget and went to a position something he called a shameful that he said that russia should become the psychologically of the facts and not only when the pumps are in the position he said others see a different culture over business consumption and that's what we as an example you mentioned creating an energy revolution which would be followed by a drop in oil prices and other hydrocarbons and one of the other changes to promises is set up and all but someone who would be responsible to protect the rights of all on to from the wars not just foreign investors and he couldn't help but mention the situation that is on rattling around the world and how it's

affecting the country he's complained that excessive government that in the us and europe pose a real threat to the global economy particularly for the major exporters in the emerging markets and europe that by saying that the next ten years would see a transformation of the global economy and would see the emergence of new financial centers and goes up to miss that that russia would be part of those. the russian government is ready to buy back shares in the country's second largest bank d.t.b. from minority shareholders who purchased the stock during an i.p.o. in two thousand and seven the government adds that it will do its best to ensure investors do not make a loss now the list price for the shares was first seen point six copecks they are currently trading at around seven the head of the tb estimates the cost of the buyback. there are around one hundred fifteen thousand minority shareholders in bt bank in order to believe that shares of around one hundred to one hundred ten

thousand minority shareholders will need some fifteen to eighteen billion rubles and push. russian markets are up at the close of. the third consecutive session of games with the r.t.s. my sex profile around one fifty five percent let's take a look at some of the movers on the my six financial stocks in the spotlight while the small bank fell slightly to be gained under one point three percent one point two to be exact after prime minister putin said the buyback for minority shareholders is possible new coil was up at the close of spite well being slightly lower as the company shed like this preparing for a listing in hong kong. and in other news the world's largest publicly traded commodity supply glencore is in merger talks with another mining giant xstrata listed in london glencore already holds thirty four percent of xstrata which is valued at thirty five billion dollars if the tie up goes smoothly the combined company will have

a capitalization of about eighty billion dollars and would be the third largest mining company in the world. so from the business team for now but the headlines are next to stay with us. the close up team has been to the hub bar of screen. where the country's little

wealth starts its way across the ocean. now our t.v. goes to the area. was named after lenin looking to a different character to represent itself for local businesses are striving to build the aviation capital of russia. and for the four by fours are made and should be tested to the limit. welcome to the illyana screech of. russia close up on r t.

od. brighton if you remove the song from finest impressions so. please for instance on t.v. dot com. wealthy british style sun it's time to let. the.

market. come to. find out what's really happening to the global economy. stronger for a no holds barred look at the global financial headlines kaiser reports on our. top stories now this hour a spy song. the father of a former poisoned in london six years ago says he was mistaken when he accused me of being responsible for his death gets a story firsthand from alexander need to make this part of a. new and reported it can sort of the new drive for a solution in syria which no longer calls for president assad to step down criticism from russia it's also unlikely to have references about an arms embargo removed from the text. before egyptian police fired tear gas at

a group of protesters in colorado we're bringing you live pictures of the scene there in central colorado where people have been running against the way security services handled the rush of a football match when. we've sold more than seventy. back with more on that story and other developments for you in this and half an hour from now in the meantime financial guru exposes the fact cats and their financial scandals in the kaiser report that's next. i'm max kaiser this is the kaiser report there's economics and then there's hope economics stacey max yes that's what we have all over the world today but economics here's the trickle down hoots book mel gibson temple tries to shake him

down a southern california temple took out a jumbo loan on a synagogue a loan that now can't afford to pay back so what have they done max congregation beth shalom located in corona california sent mel gibson a letter requesting that he give them big money to prevent foreclosure they wrote quote our proposal to you mr gibson since you have been cited as an anti-semitic and have denied those allegations what better way to prove to all your fans and the naysayers than to endorse and help raise funds for our cause s.o.s. save our synagogue to shake down. well t.m.c. calls the move a similar to a dude a costing you for money at a gas station or something i want develop the fish. well it is kind of what you see happening around the globe you see banks everywhere in every single nation

in the western world in which the citizens are hugely in debt the banks are hugely in debt as well and they're saying we're so in debt bail us out so yeah exactly right it's a microcosm if you will of the entire global market where you've got folks that are shaking down governments and shaking down the citizens for bailout money for mistakes that they made you know the wall street made a bunch of mistakes and they shut down the taxpayer to bail them out in the u.k. the banks made here. mistakes and they got the government to bail them down in ireland they got the government to transfer all the bank's debts to the government's balance sheet one hundred percent no questions asked they're still paying off anglo-irish debt they're still paying them out so you know there's a lot of develop the french that they'll be paying them off for decades to come max but let's look at the chutzpah happening in europe ok now greece as we know is the center of all these problems because of all these debts they can't pay but who is

the one that hit their debts who is the one that forced basically greece to become part of the euro so that the euro could happen in the dreams of france and germany so and yet germany now is the one turning around and saying greeks reject german plan for e.u. budget commissioner greek officials have reacted angrily to a leaked german proposal for an e.u. budget commissioner with veto powers over greek taxes so obviously it was met with a lot of anger in greece and to pollute a former commissioner and now an education minister in the greek government slammed the idea as a product of a sick imagination well this is another gibson a tactic the greek people they should say look you know we need them when you bellow give us a bell zero zero it reckons that this demand that a budget minister from germany be installed in greece was bound to be rejected

germany knew this so that they say their head says the next step is an epic l t r o long term refinancing operation in precisely one month whose sole purpose will be to prefund european banks ahead of the greek default with enough cash to withstand europe's bear stearns right and it keeps them in the defensive mode in terms of deflation because greece is imploding this is going to be perceived as deflationary and therefore they need. to keep interest rates near that zero percent meanwhile the fact that they are essentially siphoning off the income from grayson is other countries through the backdoor through the off balance sheet to pay continually to pay the huge banker bonuses that's not really talked about because they go with that headline crisis greek collapse is deflationary oh by the way we ended up with all the assets that interest rates have to remain at zero percent if in fact the

market was allowed to function without this interference you'd find interest rates starting to rise and you'd see some losers in the banking sector and you'd start to see capitalism return to the fore but right now you don't have capitalism you have what's called some some call corporatism but i think we're going to talk about the second half or you could call it quits but i'd like to see much more training on the exchange you know why isn't goldman sachs taiko its book public as a initial public offering you know you could be like the symbol could be kosher i'd like to buy so much but i think it's in a bull market why can't i buy its books why is the logical market bring monopoly line of monopoly manipulated monopoly monopoly played it you can have a new worm and i'll be late and exactly take that public well ok now the point is that part of how this puts but economics works in terms of the eurozone is that over and over the nations like germany and france that engineered this hoots but economic zone they argue that to dismantle it for any nation like greece to

leave the euro zone it would cost so much more it would be economic armageddon well the report that will blow up the euro zone yes the pv the far right party in the netherlands commissioned lombard street research to examine the cost of staying in the euro versus returning to the guilder now essentially what lumbered street research found was that the costs of break up are wildly exaggerated and that the cost to the netherlands and germany in particular for staying in the euro are huge due to what they call unrequited transfers. and last purchased power charles dumas from lumber street research says the dutch people have lost thousands of euros in purchasing power per year since the currency was introduced so a lower euro has indeed they say helped german manufacturing exports for example but

the actual german citizen their purchasing power has been declining the dutch purchasing power has been declining excited no one you know in the netherlands they've tracked us a bit in the paper i love it they say purchasing power and they track it up and down the never seen any other country track that the public press just fantastic but the deal about breaking out of the weather is greece bust out of the euro or some other country the fact is own interest rates are zero percent as they are now the costs are virtually nothing you have to equate it to let's say a facebook you know facebook is going to go public for somewhere in the hundred billion dollar range they have facebook credits which is a virtual currency that they cost them nothing to issue and they were able to create this multi hundred billion dollar franchise around that similarly with other gaming sites to globe has become essentially a game using a virtual currency that pays no interest that's the key to a virtual currency that pays no interest the dollar the euro soon will pay no

interest all these virtual currencies and global currencies pay no interest it's a game in currency there isn't it's one of banking system where you put a deposit in a bank in these that is the basis for a loan as steve kean has talked about that's nonsense there are no deposits in any the banks worth anything the collateral is nothing it's negative reserve banking it's all a gaming currency food stamps it's a gaming currency the balance it's a game in currency zero percent interest rates you give away billions and billions you hope that people spend this money on line and viewing advertising which gives some bonus money on the back end to the bankers issuing the gaming currency but the entire idea of global gross domestic product these would be replaced with the gaming product g g p and it's just a matter of. which country's economic activity is providing more of a gaming output and virtual currency output than anything else goods and services are passe and we're now in the post g.d.p. world or in

a post sovereign currency world. well you know going back to this article here branding the monetary union a suicide pact dumas noted that the club med nations needed about five percent of gross domestic product in annual debt refinancing more or less indefinitely this means that there would be unrequited transfers lumbered street research said of about sixty billion euros annually from germany fifty billion euros annually from france and but these numbers were based on the condition that greece and portugal left the eurozone so this unrequited transfer would be basically to italy and spain well that's exactly my point they're saying that you need a certain growth five percent to make up for the. transfer payment i'm saying that you won't have any growth everyone knows there is no growth and that the growth as we understand in goods and services that period over they simply give the gaming

currency away whether it's a euro a dollar a drop mark and people use it online and they view ads and they boost a consumer economy which is all fueled by more gaming currency and as the wages around the world go to parity so that the global constellation of wages at these four thousand dollars per year mark and we have a globe of gamers that's the only economy left and casino operators now finally in the market for chutzpah we had last week the devil is formed and i want to turn to this headline here looking back at the davus forum the quest for economic and social nirvana now this came from a website called psychopathic economics dot com the subtitle of the site is davus world economic forum for bloggers so they noted a three hundred percent increase in the traffic to their site from google searches and it became quickly apparent that people are desperate to learn about davros and

what the elites are doing to quote unquote fix the. honoree some of the search terms people were using attendees fix economy at davos davus want one hundred fifty trillion dollars davros is a joke city at davos davos. davos generate a lot of internet in a traffic which generate a lot of advertising revenue for people to participate in the zero interest bearing gaming economy but there's no economic activity roubini was at davos he uttered some platitude nonsensical claptrap related nonsense about how this was going to happen that was going to happen but all of his utterances are based on an economic model that is now obsolete but what did happen was that you had internet traffic which got ad revenues generated from people who are basically training at a gaming currency called the euro or the facebook credit or the hollywood dollar which is the one i created back in the mid ninety's except for well talk about

chutzpah the co-chair of the world economic forum last week was a victim panned it the head of citi group who saw the company become a ward of the state essentially larry summers who destroyed the financial system was almost single handedly responsible for it he was there saying well capitalized it needs to be formed why don't i take over it now this psychopathic economics dot com says the clowns don't even know or are psychopathic enough not to admit that we don't have capitalism if we had capitalism we wouldn't be borrowing more than a trillion dollars from communist china bailing out the banks to the tune of ten point four trillion there wouldn't be bread lines at wal-mart that are forty six million long unemployment wouldn't be at twenty three percent and kids wouldn't be living in cars in short we wouldn't be in the second great depression and look at

what a panda for a second citibank look at citibank stock that's become a gaming currency it was trading down below a dollar down below fifty cents ten cents a nickel and they didn't do the reverse splits to get it back up and they'll do another reverse split bank of america stock crashing you know down to five dollars we think it's going to go to fifty cents a blow so the stop. going these banks are going to is gaining currency level of pennies per share meanwhile the people who are responsible for issuing gaming currencies like a facebook or google or social networking their stock is going up because they're in the game in goal like a senile industry business that is now dominating the globe and as the incarceration rate goes up food stamp goes up gaming currencies go up there is no g.d.p. there's only g.d.p. you're here first of the kaiser report they sever thanks so much for being on the kaiser report thank you max dug away much more coming away so stay right there.

i max kaiser welcome back to the kaiser report time now to go to beirut and speak with the safe and being professor of economics at lebanese american university and foreign member of columbia university center for capitalism and society is most recently published article co-written with nobel laureate edmund phelps is titled

blaming capitalism for corporatism safety and before last week's davos world economic forum founder klaus schwab said capitalism in its current form is no longer fits the world around us larry summers also at davos claiming we need to reform capitalism your thoughts what are they going to agree with them the world we have right now does not really fit the world around us where i would disagree with them is that they seem to think that what we have is a capitalist system although it is very clear for anybody who looks at what's going on that it's really not a couple system it's much more of a corporate a system and by corporate a system i mean it's a system where the government controls the workings of the market economy in a sense of deciding who gets to produce what in a sense of putting priorities on economic production beyond the overstep on the individual freedom of citizens in the country so in a corporate the system you find the government interfering in order to save companies that feel under the pretext that they're being too important or too vital

for the working of the market economy that is a feature of a corporatist economic system in a capitalist system companies that don't do well get weeded out so the only companies that continue to perform and continue to survive under a couple systems are companies that have demonstrated some success in serving their customers willingly right in a capitalist system you have both the risk and reward and over the past thirty years or so any united states anyway whenever a bank or a corporation experian. does any kind of risk or any kind of loss they lobby the government to change the financial laws to make it impossible for them to sustain any losses therefore they're not taking any risks they're just rent seeking they're just vacuuming at cash which leads me to my next question the concentration of wealth in america and britain has grown rapidly unequal in the past forty years as bad these.