oh my god i can't tell you what i saw on the black call it was the tragedy that the humidity the gold that's all gold and they're clinging to that in a moment pressure on greece's recession stricken economy has intensified after international debt inspectors admitted an additional fifteen billion euros would be needed to fill a newly discovered black hole in the country's finances yes well we've been saying on this show for moms if not years that the game being played at the bank or level is that they put a gun to that of the government is there any more bailout money and then a few months later they say oh look we found another trillion dollars in debt we need more bailout money and this is recycled repeated and recycled again and the amount of debt in the black hole of debt will never subside because the bailout money used to try to equalize the effects of the black call of debt is in fact

itself more debt ipso facto the debt is only going to increase the only thing different is that the words coming out of the duplicitous horrendous psychotic newscasters and bankers that you see in the mainstream media is that they confuse debt with equity well regarding greece you know it's on off on off strikes violence all over the place i know you're going to be speaking to a.m.'s verify case in the second half further about that but so let's move over to the united kingdom. we've still got a few quid then bank of england's glittering stash of one hundred fifty six billion pounds in gold bars stored in former canteen under london yes according to the daily mail max cash strapped british people will breathe

a sigh of relief when they see these impressive treasure troves despite the financial crisis it seems the country still has some money left in the bank of england's vaults underneath london. well this is such a incredible law i think not in the financial press to maven report this and to all seriously because it would mean that the u.k. as the second biggest gold position in the world four thousand six hundred tons they claim they found at the very very very very very bottom of the article they do mention but sadly not all of it belongs to us some is deposited by foreign governments as well as our own it's a complete farce i mean we know that most britain has three hundred tons of gold gordon brown sold three hundred tons of gold in the during the period of the effects of the euro and britain would love to have four thousand tons of gold because as we enter this period of global currency war those who have the most gold are going to be the big winners like germany for example well speaking german gold

one thing you have discussed with jim rickards is this notion that the united states could just see these all of germany's gold because germany doesn't actually keep most of their gold in their own country they keep it in new york or over at west point so. is this just like a test the water is maybe you know the bank of england is saying hey look we have four thousand six hundred tons of gold how do we get it and pretend that where they can where it came from yeah i think they are testing the waters to say if anyone claims that if anyone steps forward and says wait a minute that's our goal you can bet as well it took all of its gold back germany obviously is exposed they have sixty percent of their gold is actually held to the new york fed so this is leading up to get to this currency were gold is the central pivot around what's the global currency wars fought speaking of the bank of england there in the next headline bank of england to print further fifty billion pounds so the bank of england's monetary policy committee is set to announce today that it is

expanding its quantitative easing program from two hundred seventy five billion pounds to three hundred twenty five billion pounds so even that fake gold that hologram they presented in the previous headline that's worth half of what they've already just printed but all the quantitative easing so far quantitative easing one quantitative easing to quantitative easing three it hasn't produced any inflation it hasn't produced any job growth it hasn't produced any real uptick in wages i mean there's a big controversy in the us about the latest jobs statistic and whether it was an ink raised crees of the testicle number of people with a job or without a job which is what got the nonsense moot point going nowhere because the bottom line is that the wage real wages are flat to down so who cares about a monthly statistical anomaly from the b.l.s. bureau of labor statistics who are notoriously incorrect and false in their reporting to begin with the but here you have a situation of more quantitative easing which is more debt which means that the

british economy will contract it's going to contract because you're adding more debt but they don't want to call it debt they call it. money they call it's equity where it's just more debt so it's a psychotic a suicide mission you know. this country needs you know what this world needs we meet remake that movie charles bronson deathwish with a guy a vigilante who goes after bankers that would be a fantastic movie and i wouldn't put myself forward as a storing in that film and being the charles bronson character hollywood call me i want to do this film for scale oh i think it's coming out of the black hole that hex r.g.b. anarchy has come up with the film just like that here's a little clip of you confronting to me gee hanky p.c. running the gaming thing there is. a horse wearing. those i agreed.

to do many. yes that was charles bronson and a sergio leone western spaghetti western then bronson went on to make the death wish series which i like to be in a death wish moving mass geyser in the charles bronson moving stocking bankers in new york with a big fricken gun. well max you did confront mervyn king their bank move could make pensioners poorer savers on the verge of retirement are facing the prospect of

becoming permanent really poorer as the bank of england prepares to expand its program of quantitative easing otherwise it is q.e. by fifty billion pounds this week so a person about to retire will be hit by the banks who because the value of a new eighty's ball on retirement is based on returns from u.k. government bonds called gilts these investments are bought by the bank during the easing process thus driving down the yield the phrase permanently poorer stands out all the quantitative easing program so far have failed and stoking growth and co wage appreciation they have made a few bankers extraordinarily wealthy they would like to increase the rate of wealth transference from the many who will now become permanently poor to the very top one percent of the top one percent i submit to you that this is neo feudalism this is feudalism how do you know been full of black plague we would never would

have the middle class to begin with if you recall your history this is why lords paid the peasants a few extra bucks because they have been wiped out of the plague well now their lords want to go back to the fifteenth century or the fourteenth century and say you know what we're back in charge forget the middle class it's all about indentured servitude and being permanently poor. well dr ross alben director of solid over fifty's group says that savers retiring today are being locked into a lower pension for life becoming permanently poorer because of the drop in annuity rates q.e. is supposed to provide temporary boost to the economy but we need to find less damaging ways of providing such a boost so dr altman is suggesting that instead of right now the bag. england is going to the middleman the banks are giving the banks through the money and saying here banks go give it to all those peasants out there and they say it's about that so if they really wanted that however why don't they just why doesn't the bank of

england actually just give that money to small businesses and small business loans it goes part and parcel with this whole the way we have knew of feudalism runs on tollbooth throughout the economy that are handed these these cartels are handed to certain select elite connected to the king in this case literally connected to mervyn king so these guys whether it's hollywood or goldman sachs if they are the middleman between the king and you the peasant it's a very profitable business so they're arguing about what's the most humane way to euthanize the middle class and poor they think well you know if we drop their heads off in the public square that's a bit too harsh so we're going to give them the needle instead which is quantitative easing or financial or pressure well speaking of central banks max facebook has filed for an i.p.o. and i want to turn to this headline here is facebook a central bank to edward castronova

a telecommunications professor in indiana university says he's fascinated by the rise of what he calls wildcat currencies such as facebook credits facebook's build up of credit suggest more than just some minor dalliance facebook already takes payments for credits and more than forty currencies ranging from the euro to the vietnamese dong exchange rates are just a daily it probably won't be long until some economist tries to calculate the inflation rate money supply velocity or other traditional dimensions of the facebook economy now max you are the world's first virtual central banker your doctors zero say so what are your thoughts on the story that's absolutely right this is a virtual currency then you need a virtual central banker to deal and the monetary policy is. all affect the virtue all the economy but this is basically inflationary on the one side of the equation but the net result will be hours and hours of loss from the productive economy from

people wasting time on facebook so in a way it's that deflation because although you can flood the facebook economy with more credits the net result will be people not working but wasting time so it's a way to increase the deflationary trend by issuing a credit stop back by debt but it's backed by wasting time this is the first currency will not the first i trade the first one of course back in one thousand nine hundred six with a hollywood dollar and the central banker but this is a currency backed by time wasting well finally on this headline max is the currency traded on facebook and the question i think is answered that when facebook filed their i.p.o. market in his letter did say that it was single was crucial to the success of facebook zynga soared sixteen point four percent and then two and a half percent in the after market on the news so i think it does answer the question whether or not facebook is a central bank thank you so much stacey harbert obvious speaking with yanis

varoufakis after the break a greek economist. should be a fantastic thank you thank you ranks go away much more coming why stay right there . will be. technology innovation all the developments around russia we've got the future earth covered.

welcome back to the kaiser report max kaiser time to go to athens greece and speak with a catalyst professor and author dr yes vero fake yanis welcome to the kaiser report thank you it's a delight being here ariana's here's the headline no we formed no bailout what's the latest drawing in the greek bailout drama up one of these have it is a simple story this deal is. going to fail just like the previous one in may two thousand and ten because you have a bankrupt entity would exist and you keep piling new debt on it. on condition that the this country is going to shrink its g.d.p. its national income through which was this will have to be based further and some point the german taxpayers have had enough and this is the problem the germany and the german political elites arleen it kind. of the

german elected and all these drama announcements is completely besides the point it's aims like a case really a financial sadism in other words there are a number of ways to extricate greece from this problem one would be for example to prosecute the bank the bank or say fraud the way god greece into the air out to begin with but none of the obvious solutions are being pursued instead they're going down the path of very slowly beating greece to death in a very sadistic way is it the i.m.f. now christine legarde is it just a case of sadists. having fun with. this thing is worse than that might think it's a case of subtle masochism you always need to do with grease is to allow it to default to face the truth it's a bankruptcy. and then to find out what to do about the banks and we've got it

allows them if they want to do that but of course they're not doing this because it could be delays ation legally speaking means that. the current owners of these banks will see their holdings their shareholdings being sued really they looted the european state and so that about their bankers they don't want to hear of this one receiving free money from these he and from the dark spears of germany and holland zones of wealth so that germany's leaders of that effectively dug a big hole for themselves and if live fall in it now of course the people who are actually suffer in terms of. basic human costs that is hunger and. just genuine human heart other people in the deficit countries greece being the worst but that is not doing much better than spain portugal ireland.

and this whole process this simply is spiraling out of control right and they are the average person in grace is having their their minimum wage cut by twenty to twenty five percent currently at seven hundred fifty euros per month we cut out a six hour arrows provided. this is just their scapegoating the average person right just to get on the status of fame they. are just basically committing kind of a financial genocide for for far right it's not too fun from their perspective it's a benefit for anyone for sure but from your perspective mrs merkel has a very important task ahead to survive until the federal election and. her collisions of life she would need to do to give greece's the government the bill of loans that then the government passed into the hands of now she has the cause of

the members of parliament in the for the parliament and she needs to convince them that this must be done but you can't come out and openly say that this is all for the benefit of the banks so she has to count to this in the language of the day now the german taxpayer doesn't want this rain is going down it was just so the only will keating the german. members of parliament and the electorate of the present is basing them look watch those gigs suffer again if they suffer sufficiently then perhaps we should give them some money so the whole point of reducing the minimum wage from seven hundred to six hundred views and i mean there's no my group can only rational whatsoever involved this is the only point of blues used to demonstrate to the german members of parliament particular of the ruling coalition that look the greeks are bleeding so no let's give them more loans when of course those loans little bits of the gigs are meant for the banks ok so merkel to play

her constituents but it is going to continue to believe the greek people that they are physical visibly. because this well. appear. that he's doing all he can to. act of horror find out off to these greek people well last week paul thompson head of the i.m.f. measure to greece conceded that social tolerance or political support have their limitations and of course this was before the home of great president was here with a molotov cocktail but your thoughts on thompson statement pull thompson is a tragic figure he's here's a blue presented the promotional monday from. and his script from which he has to recite his lines was written by joe joe his effective use of contractors of the hour happened to mr johnson in particular the task of imposing on greece these days

the measures the brilliant example but the i.m.f. does not believe it is a state's measures so this is christine lagarde is making some quite notable and interesting speeches that are going against the kind of medicine the greece is applying to the patient and his mrs domes and between those two. places the hers mindsets one is out of it of his bosses in washington and the other is with the german leaders which is contracted mrs domes to effect policies of this of dom's nose are quite poisonous not only for greece but more generally floor of the global economy ok now this is that are saying they either bureaucrats in brussels have just found another fifteen billion euro or black hole and greece create five asses the same as a very caring same how many more black holes do you expect to be found in

a great financial universe before it's all over it really depends on whether germany is ready to let the eurozone go. germany has not. decided that it wants to reconstitute the dodge martin get out they're going to be blocking the black holes. with no money either. by the sea or gallon loans from the german taxpayer greece is neither here nor there it is not significant or important enough to worry about the state of its of its micro accounting national accounting or indeed or that he will call me on it. so should greece have ever taken that first i.m.f. loan bailout package i made myself in credibly an ocular in this country when even april to may two thousand and ten i was i would gauging taking the bailout loan was

the equivalent of collective suicide and these would constitute one of those instances in world economic history that would be taught and of example to be avoided in economics departments for the next hundred years how about the air race and. there's an oil iran oil embargo going into greece the same like really another for us for us take away your thoughts alice the greek prime minister of a year or two years ago mr george papandreou who was responsible for getting us into the bailout mark one disaster nevertheless it's one thing before that happens which was quite ahead of its time and i think correct he said that if we are ever to fall into the bosom of the i.m.f. and the european union we lose our national sovereignty and this is precisely what

has happened greece has that it is not in control of its fate anymore not troops overseas a thing of the past until and unless some new government plans simply say. i know who do the bailout loans that are being offered to the. most germans according to our poll last week and while greece. greece play of the arrow or germany i believe the. us where you know if there were no opinion poll back in just before the industrial revolution and we were asked whether they want the industrial revolution. most of them would have said no that installed the dust of the regime similarly even if all the germans and all the greeks want to get out of the euro and. let me inform you that most greeks would like to get out of the euro now we've had enough of being treated like the brightness of the euro zone. is immaterial this is

a currency which is never have entered into neither us nor the germans for that matter but tragically it is a guarantee that once you enter you cannot escape. if we get out of it we're not going to return to where we would have been had we not constructed it and instead the way that this currency has blocked our economies together has created this because kate of insolvencies we did banks and states if greece pulls out let's it was thrown out of the whole edifice will collapse germany is going to end into a huge recession and the rest of europe is going to be. you know an ocean of the conflation so i think that we're again we're we're between a rock and hard place. the only. part of that would minimize somehow the human cost of it all would be one of the xining of the year and they didn't get back from what i call bank of daugherty and putting it in the

service of your heirs if you're saying that despite the crisis greece is still buying weapons they're still spending on lots of money. it's kind of interesting for two reasons number one. they don't really have money to buy weapons number two if they really want to fight the war they should be buying financial weapons like they should be hiring financial marson aires to attack germany with credit default swaps if they really wanted to be on a level playing field and try to fight for their survival but isn't this buying of conventional weapons again another peerage waste of money by greece is worse than the uses humor of the gringo and this is surprising what to do it's not been cool but germany what to do if you eat if you look at the purchases the procurement of weaponry. it constitutes a very large group worth of german exports and in one sense you know germany's saying well i'm giving you the money and i'm going to do

a little to do with it without money to cause greece's debt and also to the broken sort of the german industry so it's quite interesting the cost could those having to do with the jeans and let alone a more sophisticated instruments to fly disease the minister of defense is not given the opportunity of counseling we all do for german tanks and submarines ok well terminate is going to look like they're going to pick up a lot of nice beach front property on the cape that's all the time we have for dr yanis traffic us thanks for being on the kaiser report in two months and that's going to do it for this edition of the kaiser report with a max kaiser and stacey herbert and was i guess doctor yet as fair a fake as if you want to send me an email please do so our kaiser report at r t t v dot ru what's all this of lax guys are saying bio.

the u.n. and arab league want to work together to stop the bloodshed in syria but the conflicting numbers of deaths coming from the country make it hard to get a true picture of events on the ground. as the e.u. plans to bring iran to its knees with an approaching oil embargo there are fears the move could backfire and hit european countries the hardest. plus u.s. drone attacks continue on pakistan with hundreds of civilian deaths in collateral damage as the country's foreign minister tells r.t. if these strikes are counterproductive to the war on terror our top stories this hour.

international news and comment live from moscow this is r.t. with twenty four hours a day the u.n. says it plans to team up with the arab league and restart a monitoring mission in conflict on syria president assad's forces say they are conducting anti terror operations shelling several areas including the flashpoint city of homs but activists are accusing the government of a massacre saying hundreds of civilians have been killed over the past week something hard to verify and with conflicting opposition reports of casualties there are those who believe the figures are being manipulated to push a regime change agenda bodies are bennett reports. from the syrian observatory for human rights syrian observatory for human rights a syrian observatory for human rights it's one of the most widely quoted sources of syrian casualty figures it is not always telling the truth and ownership syrian observatory for human rights has left several media outlets quoting the full civil nation as rivals in the same name.