in return for scrapping its weapons program and giving britain a lucrative oil contract one worth fifteen billion pounds went to b.p. in two thousand and four the same company allen had just joined there even allegations the controversial release of lockerbie bomber al mcgraw he was part of the same shady deal to find them well and refuses to comment on the claims against him if t m i six hasn't denied complicity in torture but the government saying all actions had its approval a longstanding get out clause but maybe not now the secrets out so we know that ministers in the past resign over these sort of acts of complicity that those ministers themselves should face criminal prosecution appeal a georgia civil case against marco island could be just the tip of the iceberg of what went on behind the scenes between britain and get daffy the police have launched a criminal investigation to see just how far up the tree complicity may have gone

either bennett party london. well there's more on libya's alleged torture networks highlighted on our website for you that are to dot com we have details on the death of libya's former ambassador to france who died just one day after being detained under the new government that and much more is waiting for you at r.t. dot com. these are the images the world has been seeing from the streets of canada. a giant corporations are. coming up to twenty minutes past the hour let's take a look at some other headlines from across the globe president mohamed nasheed has resigned amid a police mutiny following weeks of popular protests the crisis drew to a head when authorities ordered security forces to remove barriers between

government and opposition supporters protesting close to each other for their leader had earlier come under fire for rafting the chief judge of the criminal court accused him of being loyal to the country's former president she'd swept to power in two thousand and eight pledging to bring more democracy to the island state. factory in eastern pakistan has collapsed after gas cylinders exploded in the building rescue workers are struggling to reach dozens of people trapped under the debris a day after the incident the number of dead currently stands at eighteen though there are of course that rescuers have pulled several survivors from the rubble authorities say the factory was built legally and was closed down three times but unlawfully reopened. british authorities are working to deport the radical islamist preacher abou qatada one still osama bin laden's ambassador to europe it comes a day after a u.k. tribunals ruled the cleric should be released on bail after more than six years in

custody last month the european court of human rights blocked his deportation to jordan where he faces terror charges. now after decades of drilling russian scientists in antarctica have uncovered a rare natural wonder an ancient lake very thousands of feet under the ice or tucson thomas toward the frozen continent exactly a year ago and now explains what this discovery could mean. vostok research base in antarctica it is the coldest place on earth and the deepest drilling location on the continent the main research was to drill the great your eyes as big as possible to get these tiny bubbles of air which was preserved for about. four hundred thousand years at a certain point researchers made a new discovery lake vostok a team of russian scientists have drilled more than two miles into the ice and have reached the surface of the sub lake itself excited about the possibility of

discovering life while the drilling project at legg is exciting for scientists and promising in terms of finding a new life form here on earth there are some who are thought of the project should continue in fact they say it could even be bigger through humans there were some worries that we will bring up some microbes that are really harmful. to human beings which is from a biological point of view it is some kind of the harsh conditions make working in vostok difficult now scientists have a limited window of opportunity to conduct their research for the season. we had mana sent for self this is the coldest one that was reached it as minus eighty nine celsius at the end of february beginning of march temperatures begin to drop drop drop at these temperatures the planes can't fly anymore and that is it. now that the drilling task is complete the race is on to find the new discovery of ancient

life on our planet in antarctica sean thomas r.t. probably back with the headlines at half past the hour next let's get the latest from the business desk with daniel. book into business in a surprising move for the russian stock market d.t.b. bank may compensate its minority shareholders for losses on their investment from mr putin says the bank will use its own profits to buy back shares from people who took part in the i.p.o. five years ago called price of d.t.b. shares is currently half of the initial listing the plan is it's committed to cost up to half a billion dollars while investors await the details richard haynesworth and rating agency bruce rating says they could be a more efficient way to solve the tv's problem. if the shareholder. he's unhappy with the performance of the manager of his company you fire the manager of

the company and bring in you once the share price has gone down the shareholders do not like what's happening and therefore that they have been selling out the government doesn't like the effect that's had on minority shareholders so as a majority shareholder the government should really sack the management of the t.v. and put teen new managers who will increase the share price. on the markets first exchange rates the euro's swung into gains against both the ruble and dollar as greece moves closer to agree a new bailout strong oil is keeping the ruble higher to the dollar at the moment. brant surging further towards one hundred seventeen dollars a barrel u.s. crude futures hit a six month high on monday as the called where the boosted heating demand. u.s. markets have opened lower traders are continuing to cash profits off the three year

highs last week lenders led the falls as washington brought to new regulations designed to stop future economic crises bank of america's no point three percent j.p. morgan half a percent. europe has recovered but it remains down as greek officials meet to discuss that new bailout fund miners are also weighing on the markets off the glencore and xstrata announced their merger xstrata dropped over two percent on the year's. russian markets have closed mixed with the r.t.s. recouping early morning losses and the most extraordinary to migrate north for a second day. the movers on the minus six flagship carrier air afloat is lower traders had already priced in the announcement the passenger growth grew by a quarter last year the best results of any russian airline is also down as investors await details of its recent boyd back and precious metals producer policy . is extending its losses this hour now down over seventy percent investors are cashing remarkable forty percent gains in the last few days or rumors of

a merger with rival polymath or other metal stocks are also fairing badly peter weston explains. we had some morning news out of china it was i.m.f. made a projection that should china there could be a slowdown in china's economy down to about four percent from the current eight plus percent if europe sort of gets worse and that has really hit commodity prices where we see the metals companies in particular being hard hit today so that's the latest we'll have more business news in fifty minutes time.

wealthy british style. is not on the tightest. market why not come to. find out what's really happening to the global economy with max cons or for a no holds barred look at the global financial headlines tune into cars a report on our. world from the front it's technology innovation all the rest of elements from around russia we've dumped the future covered.

on. the move. to. use. six. the close up team has been to the whole bar of screen. where the country's mineral wealth starts its way across the ocean. now our team goes to the area. was named after lenin but looking to a different character to represent itself. for local businesses or striving to

build the aviation capital of russia. that's where the four by fours are made and can be tested to the limit. welcome to the illyana screeching. russian close up on our teeth.

so what you are t. we have breaking news syria's opposition signals it welcomes russia's mediating outbursts and trying to bring them and the government to the negotiating table that's after president also the sword russia's foreign minister appears ready to talk to all political sides and promised a new constitution will soon be put to a vote or give up for over he's met with bashar al assad in damascus also said both countries agreed the arab league should continue and expand its mission in syria.

iran slams new u.s. sanctions targeting tehran's nuclear program calling them part of the psychological war broke obama earlier ordered fresh penalties that involve freezing iranian assets and stopping all transactions with the country's central bank. and the greeks are back on the streets of athens protesting against massive new job cuts demonstrators clashed with police who used tear gas to disperse crowds that's as the country's coalition government struggles to agree on more off thirty measures to appease creditors and secure a vital second palau. will stay with the world economy max and stacey explore a new kind of offensive looking at how currency wars are heating up around the globe in the kaiser report. kaiser this is the kaiser report the currency wars are heating up around the world

stacy max there are so many super committees and super bodies that i thought we here should form one on the kaiser report which is why we have the same exact shirt on oh great rich and little they will pulse to tags. will all the super committees and super bodies are in the news super committee that runs america urges and to the zero bound demands issuance of negative yield bonds so the treasury borrowing advisory committee has demanded that quote it was broadly agreed that flooring interest rates as zero or capping issuance proceeds at par was prohibiting proper market function the committee unanimously recommended that the treasury department allow for a negative yield auction results as soon as logistically practical that's right

leave britain predicting this for really almost the entire duration of the show that the zero percent interest rates would give way to negative interest rates so that means that the bank takes two percent of your money every year just for keeping your money at the bank or the treasury bond issuance they issued the bond day one last you were in a losing position from the second you take possession and this is a way again to confiscate wealth to protect bankers and it's no coincidence that this comes this news comes after the m.f. global scandal because they were testing the waters with m.f. global if jamie diamond and j.p. morgan and john corps i could confiscate people's customer money out of their accounts just steal. money and nobody did anything about it then of course they said ok we're going to issue negative negative return bonds and negative interest rates and the confiscation now is in full force zero hedge reckons that this is

j.p. morgan and goldman sachs who are pushing for this and say and what j.p. morgan and goldman sachs want j.p. morgan and goldman sachs to get and once we get the green light on negative yields at auction next up will be the push for the fed to impose negative rates on all standing securities which means that coming soon savers will be literally paying to hold cash and that will be the final straw just confiscation of your money it's fascist regimes in the past have not hesitated to just confiscate people's wealth the resulting impoverishment ends up in creating state sanction or in this case bank sanctioned ghettos and then there's the beginning of a financial program which a financial hole cost and this is the program in place now those who have gold and silver of course are going to be the only survivors as we've been saying on the show for a number of years as well so the fed doesn't believe in the dollar clearly because

they want to be confiscating the capital like this here over in europe buddhist bank sinks deeper into debt saving europe so germany's buddhist bank has entirely exhausted its stock of private assets and run up a quarter of a trillion euros in liabilities propping up the euro zone system testing the political limits of e m u solidarity in germany the operations of incurring all this debt are part of the european central bank's target two network of automatic payments between the national central banks of the euro land club the bank has already provided four hundred ninety six billion euros to countries in trouble chiefly greece ireland. italy and spain know the bank has plenty of room it's rent their interest rates are two or three percent they can lower them down to zero percent easy bake and say gone many more trillions of dollars worth of bad debt and

remember folks it's all legal now the article mentions a professor westerman who says that the e.c.b. is also printing money and that their latest lending has not been quote unquote sterilized and amounts to money creation while it has a verdict a banking crash the move is double edged and could intensify the crisis since the bank cannot ensure that extra liquidity stays in the club med block professor west german sees a moment when all that money all of that extra liquidity currently sitting in the club med region italy and spain and france that it could all come rushing back into germany and they call it the tidal wave of liquidity quote if everybody tries to get out of crisis states at the same time this will overwhelm target to in principle a speculative attack could occur within a day we are heading towards the multiple equilibria zone in which belief that the breakdown of the euro zone are self-fulfilling. if the don't forget deutsche bank.

is the goldman sachs j.p. morgan of the e.c.b. can absorb many many trillions of those junk without breaking a sweat and remember folks it's all legal what germany is doing it's all loophole so the next headline also from amber was ever in prichard from the telegraph says the perils of mario dragons one point five trillion euro blitz a disturbingly laura number of credit experts warn that the e.c.b. lifeline is not the game changer that the markets seem to think cannot in itself save the euro land and may prove counterproductive perhaps soon suddenly all these credit experts are thinking hey. all of this lending to the banks these trillions and trillions and trillions of dollars and euros and fake currencies around the world all of it actually may blow up because i'll bear to gallo from r.b.s.

says drag us for him to an eighty nine billion euro loans to banks at one percent for three years the l t r o is having all kinds of toxic effects which is disturb and giving that the financial times splashed a headline that the banks may draw down another trillion euros at the second l.t. are in late february well what they're not taking into consideration is that all of this debt is off the balance sheet and all the income is used immediately to pay off bank and near and germany so germany has effectively to seize control of grace they've seized control of portugal they will soon be totally in control of spain and they're totally in control of the earl's own it's all legal remember they put all that bad debt off the balance sheet as keep interest rates at zero percent interest rates were to rise through three four five percent of course the game was over but that's never going to happen because there's no stopping the creation of credit default swaps and other derivatives that are used to keep interest rates artificially low so you don't have that risk so as long as they can create

trillions hundreds of trillions of dollars of the derivative though you don't have interest rate risk you have political risk in the countries that are not germany germany doesn't have a political risk because they are europe alberto gallo from r.b.s. goes on to say that he expects five trillion euros more leveraging by european banks before it's all over so anybody who thinks there's inflation is wrong however this is massive deflation which is often the predecessor to hyperinflation massive deflation which is used to keep interest rates at zero percent william flay should come along though because there is no. the tolerance for that in germany they don't like inflation the member wymore republic their anti inflation so they will continue to run the entire game with they hold all the pieces on the board in the europe zone and when the dollar crashes then

germany's going to own the dollar as well germany is the crew superpower here not china china is apple's keep manufacturing hub power per se germany is a natural powerful country but this five trillion euros deal leveraging in a deflationary environment cash is king if you have money you're happy many germans have huge amounts of gold many chinese have a lot of gold relative to their income so they'll be happy in spain in greece in the u.k. in ireland the citizen formally known as the citizen now known as the consumer they have a lot of debt. want chinese people are unruly that's not going to going to serve them well in the currency wars their government is going to have their hands full but remember going forward that real burden of debt in

a deflationary environment the burden goes up so all of these debtor nations isn't going to get worse now you and i have been to athens and we've seen that those people you know you can talk all you want about germany and how they are but they've got to contend with those greeks and we saw those greeks and. i have to say we were interest where as well and the people in athens were far angrier than during the egyptians during their uprising but as was reported on the zero hedge this past week greece is now answering re entering this futile period the economy is so crushed you literally have a nation of disenfranchised and then forming peasants who have complete inability to mount any offensive whatsoever and then i have a final headline here about greece i.m.f. official admits austerity is harming greece pole thompson head of i.m.f.

mission in greece concedes that social tolerance and political support have their limitations in an extraordinary departure from the script to the i.m.f. is followed to date the danish the official who is also in charge of the i.m.f. program in place in portugal acknowledged there was a limit to wall what society would endure he said quote while greece certainly will have to continue to reduce its fiscal deficit so we want to ensure considering that social tolerance and political support have their limitations that we strike the right balance between fiscal consolidation and reforms as such the i.m.f. had cautioned against an excessive pace official of fiscal reduction so this goes with your theme that the u.s. and and germany are at the heart of this global neo feudal system when it was when these austerity programs were imposed fora way down in latin america or asia the germans and the americans felt and the french felt safe issuing austerity measures

because they weren't anywhere near the peasants who would riot here athens a little bit too close i think to berlin well know their opportunity was last year to have a coup to stop and get rid of happened and they could have been put in a populist government and they could have saved themselves but they failed to do that so. no it's finished for them ireland similarly is toast no hope for them whatsoever portugal under the bus spain no italy they have twenty five hundred tons of gold if they can hold onto it they're in good shape but i suspect that the current government will sell that italy's gold oil is a deal with the i.m.f. because they are totally corrupt and this leaves only germany if at the end of the day well max this super committee of blue shirts i think we've decided. heart on the final say here christine legarde she was up at davos i think she had it right you know here we saw that greece is no longer going to have these

austerity measures or the i.m.f. is afraid of it christine legarde also said in davos that portugal spain all the rest of europe all these peasants they're a little bit too close to paris london and berlin and maybe they're a little bit too afraid of austerity measures here want was thought more about that stays there are things i want to bring on the gaza report thank you max don't go away much more coming away stay right there.

welcome back to the kaiser report on max kaiser and from some judge go chile gonzalo lira welcome. the kaiser report as always it's a pleasure thank you all right so you're a bit of an expert in the area and one of the hallmarks of the i.m.f. and latin america we were talking about them in the first half was austerity which they used to call structural adjustment policies just before syria are the i.m.f. wants europe against implementing further austerity so what's going on here well it's basically you know they want to squeeze a little countries such as greece portugal and ireland especially but the big ones there are sort of fraid of they're basically afraid of italy and spain basically telling the i.m.f. and the e.u. to stuff it and exit in the euro zone all together and so that's why they're

treading very carefully now they're doing this about face that oh austerity is great for latin american countries and for the little european countries but all of these big european countries like france like italy like spain oh no no no a story is bad for them what we need is some sort of monetary loosening of some sort and that's where we have l.t.r. rose i mean we're going to have morrow is long term refinancing operations it's essentially the banks the central bank the e.c.b. is lending free money to the banks and they in turn are taking this money and using it to prop up the bond markets it's basically stealth monetization and this is what the united states did where ben bernanke he lent out as bloomberg reported seven point seven trillion dollars between loans or insincerities to the too big to fail banks now they took that money and invested it in u.s. treasury bonds now it seems that the l.t.r. o. operations are going on with the c b that are projected to on during the year two thousand and twelve which are expected to be about a trillion euros are going to be in that direction basically stealth wanted as they

should and so what we're going to see is a continued to ration of the euro against the dollar as specially against gold and a propping up any muddling along of the european situation and there is got going to be any austerity insofar as spain italy or france are concerned so this talk of us territory it's just purely. cosmetic and just for the headlines it's not real how can these organizations be so professionally and competent i mean if people go if you go to a doctor and you say no i've got a chest pain and he gives you a call and ask to pay you know henri amputate your foot and you would be rightfully upset in a suit him and you wouldn't consider him to be a serious doctor but when you go to the financial doctors a christine lagarde the i.m.f. and they seem to be incompetent on this scale they seem completely oblivious to the reality of economics and finance what why either eg why don't why don't people why don't they just revolt.