specter the reality is on his watch. that he has been eliminated we have osama bin laden eliminated and you know these are these are important critical international feats that he's accomplished under his watch so i think you'll still focus on some of that. i still believe he thinks that this obama care. plan is something that will work within this country so but i think he needs to dance and be very careful and crafty which he is around some of those topics now president obama's first when is largely attribute it to his promises of hope and change and really riling up supporters and especially many young people who believe that hand but now with many voters disenchanted with hanwell this tactic work this time around. oh it's going to be i think it's going to be a tough sell i've got to tell you i'm a little surprised by the fact that when you look at rest most of polls are you

look at the polls across the board he's still in the popular vote side has you know forty three forty four percent so if i'm him i'm actually kind of excited going in with that number hope and change i mean i guess you got to sit back and ask yourself some basics which are you know are you are you better off than you were three years ago do you think that what he has in place currently came out with some budget talks recently is that something that you believe in. and then so i think it's a little audacious to think that it's going to be an easy reelection for him were you're correct and i think that he's hoping he will be very effective is in that you know that youth area where people they might not understand the numbers as well as some of us older people and he can be influential charismatic creative and he definitely can run a rock star campaign and we saw that the less time so it'll be very interesting and

by the way i think it's going to be a critical election for the united states and certainly in my opinion in my lifetime of probably the biggest one of most significance in my lifetime lastly i just want to ask you how successful do you think your math that well be i mean especially compared to other tactics like the super pacs that are being funded very generously on the other side. look we live in a different generation right it's twitter it's facebook it's social media i mean i can't even keep up with this stuff i have four and a half year old triplets and they're on the i pad buzzing around all these different places i don't even know what they're doing but so this is definitely a new generation of creativity in terms of how to get the word out how to fund the word and how to make sure that the election cycle and campaign is run aggressively and definitely differently so it's kind of cutting edge stuff in my opinion i'm watching very closely but again i think it's going to be

a tough so with respect to his record unless things dramatically change before the end of the year thanks for weighing in that was kyle herring ten from harrington capital management from our studio and york. well president obama has unveiled the department of defense's new budget among the military splurge is nearly three billion dollars for a war that we're supposedly not fighting now this is supposed to go toward what's called post operation new dawn and iraq what exactly is part of that operation though is unclear so months after the president announces the end of the war in iraq is this the misses the mysterious beginning of something else well earlier i spoke to jake tele barito former u.s. marine at r.t. blocker about the three billion dollars price tag for a war that is supposed to be over and now how or if this all adds up take a listen. well on this valentine's day the pentagon is not feeling the love neither

is the cia because what we're seeing here with this need for three billion dollars extra is basically three major things number one the cia doesn't have enough funding can continue to conduct its intelligence operations inside of iraq post-war iraq the second thing is that civilian contractors are feeling a strain on their efforts and so there's a need there's a been a big push within washington for contractors to have more money for contracts that they haven't been able to finish yet and that's what this is also going to add in this third bit of this is for military establishments that we've had there to continue to maintain and this is going on for you know since two thousand and twelve now so but roughly seven years of military bases some things have stopped working showers doors etc and they need to replace that so all of this money is

comp is gone to these three major areas so that's that's what this is all about. you know now many would make the argument i know you are one of them that. that believes the usa is leaving iraq without a clear victory barack does this suggest that there is in fact a lot more work to be done there. yeah i mean this is this is this is one of the major problems i mean we did not a we were not able to finish the task off inside of iraq as the bush administration had planned the obama administration wisely understood that that the problem was way too deep for us to be able to fix and so he said ok it's time for us to cut our losses see that we have made some progress and then pull the troops back and leave the rest of it in iraqi hands the last bit here is for the u.s. to basically been able to keep it on and make sure that iranian influence is can't take over the government and also to make sure that iraq doesn't implode again and

civil war so that's why there is this three billion no small is no chump change to two needed to help out the remainder part of it now and again this iraq was not a military or political success for the united states we are still saying going to see the consequences of the choice to invade for some years to come and with the billions being funneled into iraq what does that suggest about u.s. involvement there does that mean that the u.s. is not ready to lean. yeah i mean i don't think the green zone i mean the u.s. doesn't build a an embassy the size of the vatican city in the middle of baghdad to simply let it go i mean we're going to be there for a long time we do have combat troops out of there but that doesn't mean that intelligence that the civilian contractors are all going to be there for some time to come and what they're going to be doing exactly we don't quite know yet going to depend what the iraqis do with their own country if iraq we get become stable and

if it does trade well with the u.s. and that does export its oil and it does do all those things then of course the u.s. will basically take and all of those things don't hound appen intelligence assets and the civilian contractors will be an asset for the u.s. to influence the government to make sure that they do that how much do you if you had to make a prediction how much longer do you think the u.s. is going to maintain some kind of presence there and to continue to allocate money to iraq for the rest of our lives the u.s. will be in iraq for the rest of our lives there is no doubt about it. and take you know if the u.s. isn't ready to leave and from what you're saying we are far from from leaving the country what does that mean for president obama who is touting the end of the war and iraq as a campaign promise fulfilled. well i mean i'm not haven't been supportive of barack

obama since the third day he was in office i do not think that president obama has been a very good president whatsoever but i do give him credence that he did all combat troops out of iraq that much to be said he pulled the troops out of iraq and he should be saluted for that however i don't think that you can count iraq as a success or afghanistan or the killing of these people and all over the world the drone strikes me these have not been successes i think the obama presidency has so thus far has been a failure but we'll see what happens if he wins his second term now this is called operation po-r. post operation new dawn but this report it doesn't really go into much detail on to what exactly this in pal's how do you expect our suspect these findings to be used exactly. well the way the contracting process goes is you know there are people there going to bid for contracts that are put out there by the department of

defense and and based on the last q.t.r. we know that it's going to go based on services provided not on necessity not on quality but based on who does the most amount of stuff so it's probably going to go to our burton k.b.r. and triple canopy for the variety of different security services and the other money now things don't notice the trius left the army to go to the cia and detritus and leon panetta are basically includes with one or zero to see the secretary defense and. the director of the central tel to say to collaborate on funds to accomplish intelligence me and the defense intelligence agency will also be getting some of this money to increase its assets there so it's going to be a variety of different civilian contractors and intelligence assets going inside of iraq to do a variety of of tasks that. you so far is that the director of cia and the deity

want him to be and now this is coming at a time as there is a lot of pressure on congress to cut down on spending and defense spending is one area that has come under a lot of scrutiny i mean is this a sign that maybe defense spending might not be where much of the cuts are going to be made. well i think we would we would all be foolish to think that the defending budget is going to be cut dramatically it hasn't been cut that much i don't but i would say this that. we should know that the only way to get funding passed within the within the congress is through the department of defense it's easy to get votes increased money for the department of defense and this is why it's the only way the cia could get money was to get it passed through the d.o.d. and then money gets indirectly funded and sent to the cia as a result of that so. there will be fairly little cut for the d.o.d. in the near term future and there will be fairly little cuts then to other assets

for the u.s. to be able to influence you know out of iraq and afghanistan everywhere else and lastly jake just want to ask you what do you say to those that that say this sudden pullout and total stop the you know ceasing to spend any money on iraq is not really feasible that it should be more gradual process to make it more of a smooth the most transmitted transition possible well i just have to ask them look at the last hundred years of american history and ask how smooth any transition has gone has been has never been smooth and easy no matter how delicate it was we haven't tried just pulling out yet back in the one place we did was vietnam and that's. turned out pretty well for us because vietnam's right it's not a place i want to live but it's relatively stable and it's hasn't been a threat to the united states so we ought to really think about that as as an

option to go out and be smart about it. a pleasure to have you on the show as always that was former u.s. marine at our table longer. well that's going to do it for now from one of the stories we covered you can head on over to r.t. dot com slash usa you can also follow me on twitter liz wall for now have a great night. wealthy british silence is not. the time to explain exactly what. markets why not. why not what's really happening to the global economy

with max cons are the no holds barred look at the global financial headlines tune in to kaiser report on r g. the world with. science technology innovation and all the latest developments from around russia we've got the future covered. i am max keiser this is the kaiser report oh what a week according to a court of the u.k. you can now refer to nate rothschild as a puppet master and it's not libelous but let's talk about banks and sharks and all

kinds of other flora and fauna of the global financial crack down stacey max well the banking terrorists have been causing tear gas and deja vu in my headlines. is foreclosure settlement deja vu all over again so this is isaac grad minute lawyer who specializes in mortgage backed securities and he writes today the attorneys general of forty nine states with oklahoma being the lone holdout announced a record twenty six billion dollars settlement with the nation's five largest servicers over false and fraudulent foreclosure practices like robo signing good news right max no no no he looks at the details only five billion dollars of the total consists of cash payments while another seventeen to twenty billion dollars consists of principal write downs and other aid to homeowners at risk of default what this means is that once again regulators have allowed banks to shift penalties based on their improper service and practices on to the bondholders that actually

own the loans so for every dollar you make selling fraudulent mortgages you have to pay maybe one or two pennies to the to the folks who pretend to be in charge of some kind of legal oversight group yes and my recommendation to for example the looters that we saw in the u.k. in london earlier this year just get your brokers license it's a series seven license it's easy to get i got mine in one nine hundred eighty two qualifies you do still and you have a legal license to steal money and this is what people should be doing there should be trying to reform the banking system they should get their brokers license and rape and pillage like the rest of everybody on wall street but again importantly here max the term is bond holder in this case in the united states case when the five big banks do not own the bonds in that situation the bond holders are shellacked in europe where all the sovereign bonds are held by the big banks

bondholders will take no cut so this is what he is saying is that the deja vu in this case is a country. wide because when countrywide the biggest fraudulent purveyor of predatory fraudulent loans was caught committing fraud they signed a huge hoopla deal with attorneys general at the same time with great fanfare the a.g.'s announced in october two thousand and eight that they had reached an eight point six billion dollars settlement with countrywide and which countrywide would modify four hundred thousand loans what i soon realised was that this would not be a cash payment of eight point six billion instead most of that figure consisted of you guessed it principal write downs and other loan modifications of the credits so what happened is that actually countrywide didn't even own eighty percent of the so called loads it was mostly hedge funds and pension funds owned the bond the mortgage backed securities in that case and they were ones that were forced to

write down these loans oh it's regulatory arbitrage global regulatory arbitrage so depending on the territory you cheat the markets based on how you're able to subvert the regulations or lack thereof in any of these territories so the bond market in the europe would require one of criminal activities and the bond market in the united states requires a different set of criminal activities that net all the money flows to the criminal syndicates the bond traders the money managers the rating agencies the accountants like ok p.m.g. or price waterhouse cooper and the regular people get their austerity measures stuffed up their spring training but as you have brought up max not rothschild was accused of being a puppet master and the courts found in fact that the daily mail had justification saying that in this case the puppet masters or whoever they get away with whatever these attorney generals or the law decides so in the countrywide and the attorney

general's case with all the mortgage servicers in the united states right now because the big banks are not the bond holders the bond holders lose in the sovereign debt case because the big banks are. are the holders of those bonds the bond holders do not lose there are billions hundreds of billions and trillions of losses generated by the shadow banking system in trading these bond markets in different territories around the world any time anybody loses money they stuff it into a passive country like greece that's too weak to revolt or portugal and those people are stuck with the losses ultimately and we're going to find out what happens when you totally disenfranchise an entire country whether or not those people will take arms or not we'll find out now in the countrywide case so again why it's deja vu is that at the time politicians could argue well we had no idea about mortgage backed securities we had no idea that the banks actually didn't own it that in this case countrywide well there was

a huge lobbying campaign all of the connecticut hedge funds were went to washington and said hey you can't force us to take a write down on these because we have a contract with countrywide that says they won't renegotiate it well the banks the big banks response to this hedge fund bondholder campaign was to begin a massive lobbying effort that led to the passage of the service safe harbor in two thousand and nine a provision that in its original form said that banks could ignore its contract with investors in the interest of public policy that exact term did not pass in the final bill but this is what banks want so remember when they claim all the time that our contracts are sacrosanct they are actually lobbying politicians to say the contracts are not sacrosanct if we lose. as we've been explaining on this show any time a bank gets near having to pay off

a bad bet that they may or gets caught breaking the law they try to get a new law passed this is what i was told when i was working on wall street break any law you want we got lawyers that was the. when you work at a phone like paine webber or oppenheimer or alex brown as i did for many years just break any law you want we got lawyers and that's the montra and you see this all the time if that doesn't work then they put a gun to the market said they use high frequency trading and they crash the market as hank paulson did in two thousand and eight to weasel seven hundred fifty billion out of congress using financial terrorism well you're argument there that you're allowed to commit crimes and just do it we'll we'll deal with it the lawyers say that these banks the top twelve reasons you should hate the mortgage settlement this is from e. smith a naked capitalism and she says we've now set a price for forgeries and fabricating documents it's two thousand dollars per loan it is less than the price of the title insurance that banks fail to get when they transfer the loans to the trust it is

a fraction of the cost of the legal expenses when foreclosures are challenged it's a great deal for the banks because no one is that any of the servicers going to jail for forgery and the banks have set the upper bound of the cost of riding roughshod over three hundred years of real estate law well let me tell you a little to give you some perspective on this back in the one nine hundred seventy s. i was working as a magician in times square and i used to observe the three card monte dealers you know they have the three cards like this follow the red payson the head cetera et cetera now the thing about the three card monte dealers is when they get some chump in there some tourist with a wad of cash and they take all of his money they always let him win the last hand like a couple hundred bucks after they fleeced him for a few thousand why because that mentality the psychology of the person the chump is that they quote unquote won so here you have the same situation they have to pay a few bucks to to appease the the people who are on the brink

of lighting them up and sticking a pitchfork in their skull but in the minds of these people they're thinking we won . not taking on board the fact that they are huge losers it's all very psychologically programmed and it works very it's a con game and the rules of the con game are well known and established and this is a con game well exactly as i said grad man and eve smith point out this twenty six billion dollars deal most americans are going to look at the t.v. and say well gee that's a huge amount god we really stuck it to those banks but they both point out that only five billion is coming from the banks the other twenty one billion is mostly coming from fannie mae and freddie mac. which you the taxpayer watching that own. this. austerity in the united states as we say austerity in europe austerity as it's playing out in europe is coming to the u.k. first the camerons u.k.

is collapsing and then it'll move to the u.s. let's move on same as it ever was the federal reserve secretly selected a handful of banks to bid for debt securities acquired by taxpayers in the u.s. bailout of american international group so apparently a lot of guys are upset about this actual you know capitalists on wall street because they say quote the exclusivity by which the process has shot out smaller dealers is a little un-american it seems odd that if you want to get the best possible price that it wouldn't be open to anyone who wants to be the most competitive bidder says david castillo head of sales and trading a broker further lane securities so as it is the new york fed chose goldman sachs credit suisse and barclays to be the only bidders and a close deal for these a.i.g. bonds quote the central banks switched to a less open process after traders blamed the regular more public disposals for damaging prices and twenty eleven max you created the virtual specials technology what does transparency do to prices would make it impossible for goldman to play

the role of pope along with the federal reserve and allocate favored pricing to their bodies as a poor part of a people indulgence and we saw that in the middle ages so no fair competition real competition that's long gone but exactly but like we said contract law is sacrosanct when applied to banks it is a terrorist act when applied to the population competition is bad for prices according to goldman sachs but as it's the only thing that you can live by but you know goldman is duplicitous by definition they call market making their version of market making is heads we win. tails you lose. well speaking of deja vu here some images max from athens is that from two thousand and nine two thousand and ten two thousand and eleven or two thousand and twelve can you tell the tour

gas by any other year is still a sweep again the deja vu greeks approved tombstone austerity deal with troika so we see over and over there's a great deal there is not a great deal there's a great deal there's not a great deal you. on again off again there's a deal no there were german were cruising were trying to milk you draw in still the elegant marbles but the u.k. already stole them but of course this is they already know the foregone conclusion whatever it is the banks the same ones that won in the attorney general case in america the same ones that won and the countrywide case the same ones that win every single time will win this time here's a headline from stock com i thought greek dramas concluded at some stage well i responded to that in a tweet i said i'm pretty sure the greek drama doesn't end until papademos has sex with his mother or in this case his much. very clever max you study greek tragedy

at university i did i played the dead guy in production of stuff unease the dead bankers. well i have a final poster here max debt wish he's back in new york bringing justice to the bankers that looks like you well this is a fantastic project pirate my film dot com legal piracy site that's me playing reprisals are all made famous by charles bronson in death wish or famous movie from the seventy's where he goes around and kills criminals vigilante style here i'm going to go after this film of course bankers in new york vigilante style and cut them down shoot them down in cold blood in broad daylight so that's the theme of the movie you can support. i going to pirate my film dot com and reserve shares today say sarah thanks so much for being on the kaiser report thank you max that go away much more coming away so stay right there.

download the official ante up location to i phone on pod touch from the story. life on the go. video on demand teasing my old calls and says feeds now in the palm of your. question on the dot com. player. led mission free accreditation free in-store chargers free arrangement the free risk free studio time free.

download free broadcast quality video for your media projects and free media oh don the r t dot com. play. here. because you're welcome back to the kaiser a part time now to go to upstate new york and speak with james howard kunstler of consular dot com james as an author blogger and an urban architect james welcome to the kaiser report nice to be here max all right james councilor a crony capitalism mortgage settlement deal has been reached to bail out the banks via the backdoor yet again your thoughts it is just amazing how they not only never

run out of tricks but how the american people never seem to tire of being snookered among other things they've snookered the new york state attorney general into leading a task force for. in his state of the union message president obama announced he was forming a task force to look into mortgage fraud and he appointed the new york city attorney general eric schneiderman and the fact is we have a department of justice and a united states attorney general who he may be leaking sawdust as he walks down the halls of justice i'm we're not really sure he's a real human being because he hasn't done anything in three years but the fact is they have a criminal division and they have done nothing to investigate mortgage fraud or any of the associated shenanigans for the entire obama term so.