welcome back here with ours here is a look at the top stories the syrian opposition wants foreign military forces to step in to bits the weapons are coming from abroad and security council foreign ministers met to drive break the deadlock amid reports of escalating violence. the u.s. rushes to apologize for what it calls an isolated incident after an american soldier shoots down sixty most of them children but president obama says there is no rush for american troops to leave due to the murders. angries hold his breath for rescue

cash as euro zone's in its years give the next bailout a green light like of matters like illegal immigration take a toll on the index. they have. kaiser report next. this is the kaiser report. max what happens when peak debt makes peak sources tell me it's called the white man's debt burden. burden. the burden of course being all those people around the world outside of the empire whose resources must be taken well first we have the situation of gold reserves we see germany and switzerland asking about

their gold reserves that are held in new york but it all started august two thousand and nine germany's gold is in u.s. custody buddhist bank confirms this is based on a documentary made by max keiser called brown's bottom and you are investigating why gordon brown sold off the u.k.'s gold supplies and as part of the documentary you travel to the buddhist banks to find out why it is that they held theirs and they refused to sell their little did you know that on march seventeenth two thousand and eight that weekend bear stearns would have been collapsed gifted to j.p. morgan and ben bernanke on that sunday night would have slashed interest rates on the sunday by seventy five basis points you showed up at the bundesbank let's turn to this little clip here where undercover you're talking to a bank executive little did i know that on the very day purse terms of collapse

interest rates had been slashed and goal was skyrocketing you know we're waiting to see somebody. we've been told that they're now and. there's a crisis. like the red alert. they're afraid to talking to anybody because of such. in this global market meltdown. it's quite remarkable really you know we made the case that maybe they should be talking to the press. they were told we were told situations what's the sense of who didn't. like. the fear is the. banking system itself is in peril. just a question. for you know you don't know what. to . do it's coming what's coming next yeah that was a shocker and then they revealed that most of their gold sixty percent of the gold

of germany is held in new york and this then subsequently became a big story went around the world well of course and get the gold antitrust action committee pursued this story as the ground kirby in canada and they got a statement from the buddhist bank was a report documentary maybe sensational for getting in the knowledge of it from the german central bank the bundesbank germany's gold reserves are actually in the custody of the united states this is a detail of the buddhist bank longest tonight others who have inquired and it's potentially a matter of great controversy in germany reeses the question of whether the german gold reserves are actually intact at all or whether they've been used by the u.s. government as part of its long time gold price suppression scheme or happened commingled and diminished with gold reserves of other countries held in the united states so this is written in two thousand and nine max the term co-mingling yes it could well be ever since the m.f. global scoundrel germany and other banks and central banks are very concerned that

their gold reserves that are held in new york and in other locations could quote unquote vaporize and as these various countries pump up their money supply and base the value of their currencies down with brazil saying it's going to debase again. aggressively and with japan looking to debase again aggressively america is trying to debase the euro needs to debase these countries are very concerned because they realize that eventually it will go toward a global gold standard but has been pointed out by the likes of jim records under that scenario the u.s. could declare martial law over the global gold supply that they hold in fort knox and in the new york fed and other locations and become the biggest gold purveyor in the world through a new kind of a global fee out and certainly the m.f. global scandal sets that up when you have a banker that can just steal a billion dollars without any accountability at whatsoever then why not take

a few billion or hundred billion and all right and again and now they're starting to question. are we ever going to get our gold back in the gold treasure of the germans in new york this is from build the largest circulation newspaper endure me so they're calling it the incredible gold candle they found out that the bank has not actually audited there to ledge gold reserves in the new york fed for over three years and they're supposed to body every three years they were supposed to audit in two thousand and ten apparently they have not done that also germany is looking what happened to greece as part of the troika the i.m.f. the world bank the e.c.b. . trolling for assets in greece they've already seized one hundred eleven tons of gold that was held in the greece the greek gold reserve the central bank that's now gone it's now the property of the troika so they know that people are looking for gold around the world and so they're very very nervous as they rightly should be as

we reported on at the time and we got confirmation within the boom just bank itself confirm face to face that in fact the gold was not there also you're seeing an awareness of the citizens in this post world war two era where we've had this explosion of debt they're wondering what's backing it all now that it's all falling apart so alarmed by the build report the christian democratic union member of parliament philip mr elder is commanding the list of gold ingots from the president of the german federal bank yes weidman he told build quote i was shocked first they said there is no list then there were a list but they were secret then i told me that inquiries endanger the trust between a german federal bank and the u.s. federal reserve what does the federal bank want to hide and you know as we've been talking about we've hit peak debt this three thousand four hundred tons of gold of

which about two thousand is in new york they say so if this is spent re hypothecated lent out madge. only to create two hundred thousand tons worth of gold that you could see as the knock on effect and we could see major turmoil in a major collapse of this empire of debt well one of the more the most. grossest missed conceptions in the globe today is that the world is not on a gold standard the world has been and will always be on a gold standard the fact that right now you've got six or seven hundred trillion dollars of derivatives just means that the amount of paper backing the gold as never been in greater volume you have to look at it in terms of it inverted pyramid throughout history sometimes there's a one to one ratio between gold's of paper money sometimes like we have now there's a one to seven hundred trillion

a relationship between gold and paper money it always revert back to the me it always corrects back to gold to something that warren buffett knows of his heart that his dad howard buffett tried to instill upon him the truth about gold but being a rebel that he is he's going to go down in flames with a paper mountain so max the locals the natives of germany and switzerland are uppity they want to know where their gold reserves are they think they have a certain amount of independence from the empire they don't apparently gold is in new york now the most important thing though back in the u.s. dollar is not necessarily those gold reserves it's the oil reserves of all the other countries around the world which the american military and the american government are burdened by whether it's libya whether it's iraq whether it's yemen somalia we are burdened by taking care of these people and their oil reserves like . over there bill gross says the price of oil is the new discount rate he's

referring to the oil as the defacto currency of the globe petro dollar took over in the seventy's so lo and behold care comes the white man's burden the white man's burden as a regular kid playing the reference to live i think you're right it was the kind of a. home he wrote for a magazine and it was in order to encourage the us teddy roosevelt to go see the philippines by taking them so on invisible children's coney twenty twelve campaign unless you're asleep under a rock somewhere you will not have been able to miss coney two thousand and twelve as this video by these three white evangelicals and their little blond child who are saying that we need to send troops to uganda we need to assassinate this guy joseph koni from the lord's resistance army so the quote here is if there was a prize for the ngo who best commodifies white man's burden on the african

continent and more specifically in uganda invisible children would when they recently struck again with a new video and campaign titled coney two thousand and twelve well i understand that this video is something like fifty million viewers yeah well over that you know. in private and the kid in it is not justin bieber but the child and it is not just. for those like parents. exactly and now the point is they're asking for the population of america to force obama to send more troops to well to send troops to uganda. time magazine makes this inconvenient point they say the u.s. military's african command afrikan has deployed its assets against kone since at least two thousand and eight a fact that goes conveniently on bench and in invisible children's video and max yes why is africa always such

a burden to us white people because they go to resources that us like people want and backs our debt uganda's oil could be gift that becomes the curse that was only for five months ago in the new york times lo and behold uganda's oil is now a big curse it sees the u.s. combat troops there because in two thousand and six over two point five billion barrels of oil were discovered in uganda along the border with the congo which is where conveniently tony is this well this is the burden for sure whenever there's oil in the air. there that's a poem or rather a kipling well publicized well we're of course also burdened by the resources and people of afghanistan under tended irony from the new york times the new york times today has an article lamenting that extreme levels of corruption and afghanistan's

ruling class a narrow business and political elite defined by its corruption they say and explains how these unchecked improprieties are impeding u.s. goals for post withdrawal stability yes apparently the american taxpayer in our army are burdened by these corrupt afghanis of cording to the new york times but players include people tied to president hamid karzai inner circle many of whom have profited from the crony capital. lism that has come to define afghanistan's economic order and nearly brought down khalil bank despite years of urging and oversight i had merican advisors mr karzai government has yet to prosecute a high level corruption case so here's the new york times the paper of choice for empire not making any connection they did it once in the article point out that the us also fails to prosecute their bankers so and yet they're talking about the

burden of having to stay there and take care of these afghanis because they can't figure out how to get rid of crony capitalism. burden but what pushed into these toiletries and then they've got the good enough to what is the burden of a white man who some get oh iraq libya. oh africa hopes north that little america the few trillion dollars that greece pups are three trillion dollars in debt because i'm like a bird stays in every well what a second but for now but thanks for being on the kaiser report thanking us. much for coming your way so stay right there. in. this respectable british gentleman's choice was. please jackets and those whiskey. a much younger wife. and more than twenty years of intelligence service in

profit of the soviet union. killed his choice on party. well. technology innovation all the developments around. the future. welcome back to the castle report on nice guys are time now to go to the state of washington to talk with david morgan of silver hyphen investor that com david mark and a lot of back to the kaiser report. max great to be back with you all right david morgan the silver investor first you have the exact so recalling that ron paul recently held up to ben bernanke he during congressional testimony tell us about their confrontation and how you came in possession of this coin thank you max this

is the coin right here hope we're going to get a camera angle it's called the silver circle it's impreza mind it had a movie talking about the collapse of the economy and sobers role post collapse it's called silver circle movie dot com you can go that website and check out the trailer they gave one of these two through dr paul of course he held it up during the testimony and there's quite a bit of news around that on the internet especially those that are you know waking aware from people like yourself massive are telling the truth about the financial situation right now are talking about silver and the silver liberation army and silver asar paul and all these grassroots campaigns last year of course we had grass taking morgan by silver now i see the some bloggers have taken up the cause tell us about by an ounce given ounce so this is a lady that i know that does

a very interesting blog sherry question in all dot com she's blogs on all kinds of things in fact call me this morning with some updates that people might want to check out regarding goldman sachs and their position if the economy collapses i guess the bankers get paid first that's based on hearsay evidence the article yet but going back to what we want to talk about by an ounce give an ounce it's piggybacking on your you know buy an ounce and take j.p. morgan down and she's basically saying you know you've got to understand that the physical realm doesn't equal the paper realm if you want it buys announce your deal leveraging those bankers roth roughly one hundred to one and this is something she owned it is something you can give away as a gift and also think of it as some kind of a situation. give something of value to somebody else not only maybe a barter transaction but as if you have so i like it it's picking back to again on what you started and she has your video up there again so maybe you'll strike hitting a lot of new people that wake up to max kaiser kind of as they're actually people that haven't heard of you but you never know i have them in oregon imagine that the

race yeah physical server the paper silver is about one hundred to one hundred times more paper at least i mean if you look at the derivatives markets out there and then you look at that the balance sheets of these banks that are not even counted in the account in the overall look at what they're holding the ratio is even more astronomical paper than physical now recently there was a smash as a silver price one hundred ten thousand paper contracts of silver were sold in less than an hour so how many ounces of this is there in one hundred ten thousand contracts and is this unusual david martin very unusual and maxence had a backup if you allow me but you know just christian is the one that during the testimony about manipulation the silver market testified before the see if you see that the paper to his courageous roughly one hundred one and we usually have jeff

out to the silver summit here in spokane every year and he get an interesting presentation last october a said you know really it's not one hundred one it's four hundred one twenty put up a chart actually out that for our members and the members part of the more going to court but anyway going forward yes the smash down it was roughly one hundred ten thousand contracts five thousand pounds per contract so you're looking at about five hundred fifty million ounces of fine silver which is roughly three quarters of the amount of silver mined in a year and all that took place during one trading sed session on the c.m.e. and yet the authorities just looked the other way what's so striking to me is the amount of people that get so upset by this me being one of them. but yet they feel a lot to that they want to give up but they have no recourse and you can't control that of course because the c.f.d. see won't control what their mandate says it should but to me i want to make the point that eric sprott who started the p.s.

of a physical sort of trust. recently did a shell fall of one point five billion ounces not that long ago it took to chill falling down in the issues about three hundred million dollars to buy roughly ten million ounces of silver when that there's a collection million ounces of silver was bought the price shot up from the point it was announced to it was collected roughly two hundred dollars yet it took fifty five times that amount on paper to take it down the same amount in price so i really feel that we're winning matches mean that again shows the point of what you started with the buy announced take down j.p. morgan this by an ounce given how it's all about taking the physical and holding onto it because that is what do you leverage is the system to pick fifty five to one to get the system down the same amount of price and shows you that buying something physical really has meaning well as far as these grassroots campaigns like grass if you morgan buy sell or buy an ounce given

a chance that i've been involved with i've really gone to school on eric sprott eric sprott the guy who has come to the market and said look here's what the annual production is here's what the annual above ground supply is here's what the demand is and this thing is going to go higher and of course and eric sprott we're not talking about by an ounce denounce we're talking about a billionaire one of canada's leading billionaires is talking about buying a billion dollars worth of silver at a time now you probably have more cut i know you must have more contact eric sprott than i do personally but it's see you know i think of him as a silver vigilante like a clint eastwood character going down to the silver pit you know and then just firing away at these paper of silver bugs but do you get the sense that he's genuinely has kind of a. burning in his belly to go after this these paper bugs. well he's never told me that but really talks about the pay system initially and how unsafe

it is and how safe it is to own them else and that's really your only asset class you can hold outside the banking system we're not exposed to these banking problems that exist so that's number one number two yes he she saw were similar to what i see is probably the best investment of the next ten years and then he goes through his numbers which are very similar to mine in the three reasons why would she be in are similar and i really do believe that he put out a shelf filing just to have the ammunition ready to fire away there's one point two billion dollars left on that shelf filing so you know at the time of your price but he could have bought roughly fifty million ounces of silver it's only what ten million so far so i believe that any time somebody gets in the under thirty range he's probably going to take take a shot at it meaning is going to buy more physical so i see it as very bullish as i said and i think that we are talking with her let's just talk about that other

precious metal gold for a second because there's some very interesting crosscurrents going on and some international dialogue happening based on what we've been saying on this show for quite some time that is to say that a lot of the european central bank vault is not held in its european central banks it's held in u.s. federal reserve bank in new york as one of the main repositories for german golf for example as another start to freak out in germany and that way we want our gold back and we see this all over the world but as well repatriating all we see repatriation of gold now being talked about in switzerland what's this trend all about david morgan is a p are these countries finally waking up to the fact that they don't have the fiscal nepal's that they don't have it exactly i think you were instrumental in getting people where that and now they're following through with action you know it's all the schools not money i mean bernanke you testified i think ron paul asked him about gold he said well it's a tradition. it's not money regardless banks know what it is in fact if you go back

in history not that long ago on going back roughly ten twelve years the bank of international seligmann's the bankers bank you actually used to be able to be a stockholder in that now it's totally private again they used to account for every asset in gold only in other words they didn't care what member banks again this is the top is this is the highest bank that exists at least to my knowledge a list of some black banks somewhere in no one knows about bank of international settlements accounted for everyone in gold all right so they know what it is and they know how to account for you know what it means and these countries do as well and they're scared and good i think you were instrumental in getting that started and now these banks are getting worried and they say you know if something really takes place we don't want our gold sitting in the york fed i was in new york oh i don't know a couple years ago i toured the fed took some photographs to a little video for the members but i'm on the street walking on the sidewalk and as i'm walking right past the fed there i'm thinking to myself you know i'm walking

over who knows how much percentage of the world's gold right now and how many people you can aware of it and how many people realize what explore all this you know surface area this is relative to the whole planet gold is where gold is scarce school that's valuable right now i imagine the p.i.a.'s the bank of international settlements then they also came out with a report last year as a recurring i'm going to look at the positions in a derivatives market because they are tracking these markets and that's where the data came out originally about taking organs and three billion ounce of sorts they've got a balance that looks like mt vesuvius the day before blows up if silver gets over fifty. j.p. morgan stock is worth zero that's what i thought my work tells me what what is what do you see on that front david morgan. ok well not to pick an argument max i first

of all everything you said i agree with secondly i mean they're totally insolvent they're totally broke right now i mean they are absolutely insolvent so how do you blow up a bank is totally blown itself up already it's just no one seems to realize it other than those that follow it work like yours but what will happen if it goes above fifty or one hundred or whatever in my thinking it'll just be another too big to fail to print more funny money and try to cover it over but i don't think that i think it's very relevant to what eventually will happen i think more importantly is it doesn't have to get to that price the thing for enough people to wake up and the whole financial system to crumble in other areas i mean this whole idea that you can have that much of a short position is ludicrous i'm actually ok with hedge you know i mean all of my coin dealer bullion dealer friends need to hedge in a market because it's a margin business so it got a hedged off their daily activity in a mine might have a year or so but the hedge off like five or six years of total global supply and

when you see what they have in the public domain as far as how much sort of how to spend statically smile i mean this is just ridiculous and again i go back to the authorities and where are these people you know it's obvious what's going on and yet they've been looking at the scene for years now and i've yet to make a statement and then this happens just recently in the last smash down again no comment i mean i think the people of the people are waking up they are certainly had it and it's just frustrates me then morgan rad time but will think again soon thanks so much for being on the kaiser report thank you max it was a pleasure to be with you all right nothing to do for this edition i think as a report with me max kaiser and stacey have i thank my guest david morgan from a summer hyphen investor that he is these were guru make no mistake about that it's not the same email at kaiser report r t t v dot r yeah so next time this is maxed out are saying.