why your local swimming pool should be closed on in order to pay for things that are happening right now in greece and that's why very interesting issue happened today we've got the deputy chairman of the deputy commissioner of the european commission mrs crewe nellie cruz she's from holland she's one of the few commissioners who really has a huge how little on the political mood and she dropped something today she dropped a bombshell she said we'd like to keep you in the euro but you know what we don't have to keep you in the euro that's incredible it's a seismic move finally in brussels it is being talked to by perhaps it's being whispered or more than shy to but the truth is the european union has finally realized that greece is not going to manage to reform itself or doesn't seem to want to and ultimately that's why we're on the brink and those people who are striking god love them i'm sorry for them that they're losing money out of their pay packets but there is no way that this farce can continue we're greece can be bailed out by the rest of the world that's the simple truth of the economics of the

matter unfortunately and finally it's been exactly twenty years since the european treaty was signed today the eurozone finds itself locked in this terrible crisis where do you think it's all gone wrong. oh look where it's all gone wrong very simple i mean the core ideas of water granted by europe i'm sitting today in the middle of poland i can travel all the way to the western coast to the atlantic coast in france or somewhere like that it's important you go without having to show my passport i've got free trip free movement of goods through our twenty seven countries these are wonderful things the problem is that all went wrong because a group of rather well rather heads in the sky kind of dreaming pie eyed individualists thought that there could be one single europe and they rushed to compress everybody into a single currency and ultimately none of the countries were actually remotely compatible economically in order to make that giant leap that's where it's going wrong and this is a tragedy for europe and the european union are i thank you investment advisor

patrick you. well. as we've mentioned it's the twentieth anniversary of the european union treaty max keiser and stacy herbert check out the e's record after two decades the full program coming up later this hour here's a preview. of their opportunity was last year to have a coup d'etat and get rid of happened and they could have been put in a populist government and they couldn't save themselves but they failed to do that so 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 deal with the i.m.f. because they're totally corrupt and this leaves only germany if at the end of the day.

finally this hour after decades of drilling russian scientists and antartica have uncovered a rare natural wonder an ancient lake buried fountains of feet under ice artie's sean thomas toward the frozen continent exactly a year ago and explains what this discovery could signify. 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 deep as possible to get these tiny bubbles off they are before brazil 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 subway szell 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 the 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 one essential self this is the coldest one that we're stretched 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. headlines coming up at all

a bit but first the business news but danielle stay with us. welcome to business in a surprising move for the russian stock market may compensate minority shareholders for losses on their investment for mr putin says the bank will use its own profits to buy back shares from people who took part in its i.p.o. five years ago called price of d.t.b. shares is roughly how of its initial listing plans estimated to cost up to half a billion dollars while investors await the details to be reviewed richard haynesworth from rating agency restricting says there could be a more efficient way to solve this problem. if the shareholder. is unhappy with the performance of the manager of his company you fire the manager of the company and bring in new ones 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 and put new managers who will increase the share price mobile phone retail is among the sectors that continue to show double digit growth in most of the markets russia second largest seller as noise says it's last year's revenues rose by a quarter of a company's c.e.o. dennis look outlines what gadgets will be driving the growth this year. mobile markets usually grow between ten and twelve percent i think next year will probably be towards the lower end of that's but your mind your standing is there about thirty million dollars maybe thirty nine members were sold in russia this year about sixty four percent of the overall revenue coming from a well known segment is actually coming from smartphone sales and that will increase dramatically was a hundred percent increase in mobile phones there were smartphones in two thousand

and eleven he would leave there still significant to grow russian energy market could soon see a new state owned player the government setting up an oil and gas service holding cording to commerce and daily ventures plan to consolidate state resources based on the country's oil major rules and if for energy asset manager rules nifty gas from should improve state competitiveness in the country's energy service markets which is forty percent owned by foreign companies. to take a look at the markets russia has closed mixed with the all tears recouping early morning losses. to head north for a second day movers on the march six on tuesday flagship korea aeroflot finished lower traders had already priced in the announcement that passenger growth group a quarter last year the best result of any russian airline was also down as investors await the details of its recently boy back and precious metals producer polish gold extended losses investors were cashing remarkable forty percent gains

in the last few days or rumors of a merger with rival poly metal other metals stocks were also fairing badly peter weston explains we had some more insight of china. and their faith and made a projection that should the child there could be a slowdown in china's economy down to about four percent from the current eight class percent if europe sort of gets worse and that has really hit commodity prices and was in the metals companies in particular have been hard hit today that's the business news to stay with r.t. for the headlines.

wealthy british style. is not on the tight. market why not come to. find out what's really happening to the global economy with max cause or 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 that everything you thought you knew you don't know i'm charging welcome to the big picture. the mission of free critic a should free in-store charge is free. range and free risk free. to try free. the old free blog gets loaded video for your media projects street medio. tom. league.

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. the be. eleven thirty pm in moscow the zero. it is clear that effort. the end violence must be accompanied by a dialogue between all political forces syria's president confirmed that he is ready for such work breaking news this hour syria's opposition signals it welcomes russia's mediating efforts in trying to bring that end the government to the negotiating table this after president assad assured russia's foreign minister of his readiness to talk to all political sides and promise syria's new constitution

will be put to a vote. as russia steps up diplomatic efforts to solve the crisis in syria major european and gulf states exit their ambassadors from damascus. greek standoff clashes on the streets of athens as protesters voice anger at massive new job cuts while coalition members struggled to agree more austerity measures to secure a vital second bailout. saying with the world economy max and stacey explore a new kind of offensive looking at how currency wars are heating up around the globe kaiser report up next. kaiser this is the kaiser report the currency wars are heating up around the world stacy manx 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 witch of little liberal pols 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 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 corazon could confiscate people's customer money out of their accounts just steal. money and nobody did anything about it then of course is that ok they'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. you solidarity in germany the operations of incurring all this debt are part of the european central bank's target to 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 big can 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 the 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. 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 us 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 indeed 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 hyper inflation 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 why more republic there are anti inflation so they will continue to run the entire game with the they hold all the pieces home aboard 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 the 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 a 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 herad 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 down to 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. as follow 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 pay sufficient 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 far away down the 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 you 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 some italy 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're 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 on my 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 thought was thought more about that stays there were thank so much being on the gaza report thank you max don't go away much more coming away stay right there. mission. critical three. more charges. range from three. three stooges free. download free born to video for your media project a free radio dongarra t.v.

dot com. welcome back to the kaiser report on max kaiser and. from santiago chile welcome to the kaiser report and it's always 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 there 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 us terry 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 they're 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. oh operations are going on with the c b that are projected to you 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 the. the talk about sterrett 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 and in a suit him and you wouldn't consider him to be a serious doctor but when you go to the financial doctor as a christie the guard at 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 egg well why don't why don't people why don't they just revolt i mean this is work in the past why don't people just revolt why are they putting up with this that's a good question that's the million dollar question.