close for about a week every year in america we throw away ninety six billion pounds of. worldwide news live from moscow this is our duty here you have lines the syrian opposition once foreign the military forces to step in and admits that weapons are in coming from abroad u.n. security council foreign ministers did meet to try and break the deadlock amid reports of escalating violence. militants attack a government delegation visiting one of two afghan villagers where a u.s. soldier allegedly went on a shooting rampage over the weekend the incident prompted

a raft of apologies from the u.s. but also a pledge that it would not lead troops to leave sooner than planned. and greece holds its breath for rescue cash as the euro zone's financier's of the next bailout a green light for the lack of e.u. help in matters like illegal immigration take a toll on me and doesn't make. you stay with us or our finance guru is max keiser and stacy have a debate whether or not you should turn your cash into gold. this is the kaiser report. max what happens when peak debt makes sources tell me it's called to the white man's burden

of the white man's 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 boom just bank confirms this is based on a documentary made by max keiser called brown's bottom and you were investigating why gordon brown sold off the ukase 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

a 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 buddhist bank executive little did i know that on the very day burst terms of collapse interest rates have been slashed and goal was skyrocketing you know we're waiting to see somebody had to build this but i think. we've been told that there are no. there's a crisis. to the red alert. there for a. talking to anybody because since it's. in this global market. it's quite remarkable really you know we made a case that maybe they should be talking to the press. they were told we were told situations much too sensitive who didn't. like. the fear is that the banking system itself was in peril. to submission.

you know you don't know what's. coming what's coming next yeah that was a shocker 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. the gold antitrust action committee pursued this story as did rob kirby in canada and they got a statement from the buddhist banker say report documentary may be sensational for getting it on dollars from and from the german central bank the bundesbank that germany's gold reserves are actually in the custody of the united states this is a detail the buddhist bank longest deny to others who have inquired and it's potentially a matter of great controversy in germany every since 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 longtime 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 grow well be ever since enough global scandal. 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 supplies and base the value of their currencies there 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 a 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 bank or they 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 in germany so they're calling it the incredible gold kendall they found out that the buddhist bank has not actually audited their alleged gold reserves in the new york fed for over three years and they're supposed to audit every three years they were supposed to audit in two thousand and ten apparently they have not done that but 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 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 at the time and we got confirmation within the bank itself confirmed face to face that in fact the gold was not there also you're seeing an awareness of the citizens of 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 misspelled or is demanding the list of gold ingots from the president of the german federal bank yes lied when he told bill quote i was shocked first they said there is no list then there were a list but they were secret then they told me the inquiries in danger the trust

between the 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 been rehired papa kay did lend out madge. plea to create two hundred thousand tons worth of gold that you could see as the knock on effect and we could see major turmoil and a major collapse of this empire of debt well one of the more the most. grossest mist consumptions in the glow of 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 an inverted pyramid throughout history sometimes there's a one to one ratio between goals of paper money sometimes like we have now there's a one to seven one hundred trillion a relationship between gold and paper money it always reverts 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 goldman 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 ready 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 their gold is in new york now the most important thing though backing the us 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 here comes the white man's burden the white man's burden that's a record kipling reference to live i think you're right it was the kind of a. pomo he wrote for a magazine and it was in order to encourage the us teddy roosevelt to go save 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 tony two thousand and twelve this is 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 court 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 the first video is something like fifty million viewers yeah well over there. in private and the kid in it is not justin bieber but the child and it is not just. with his wife parents. exactly and now the point is they're asking for the population of america to force obama to send more troops to vote 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 invisible children's video and max yes right is africa always such a burden to us white people because they go resources that us like people want it back sorry debt uganda's oil could be gift that becomes a curse that was only four or 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 man's burden for sure whenever there's all in the air there that's of palmer roger kipling the well

publicized well we're of course also burdened by the resources and people of afghanistan under tendered irony from the new york times the new york times today has an article lamenting the stream 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 and our army are burdened by these corrupt afghanis and according to the new york times the 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 kabul bank despite years of urging an oversight i owed 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 goes to what this debt burden the weigman put into these killer trees in the good growth of burden most of us. i'm a white man there's some debt oh iraq is some debt there's some debt oh oh some more good little america has a few trillion dollars debt greece three trillion dollars in debt because of the what is this what that person birthdays are every well. from being on a cause report thank you x. . don't go away much more coming your way so stay right there.

you know sometimes you see a story and it seems so for like sleep 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 sorry welcome to the big picture . welcome back to the kaiser required imax guys are time now to go to the state of washington to talk with david morgan of silver hyphen investor dot com david mark

and welcome back to the kaiser report. max great to be back with you all right david morgan the silver investor first you have the exact still recording that ron paul recently held up to ben bernanke be there in 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 make you a camera angle it's called the silver circle it's impreza mind it have a movie talking about the collapse of the economy and silverish 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 is quite a bit of news around that on the internet especially those that are you know awake and aware for people like yourself massive are telling the truth about the financial situation right now we're talking about silver and silver and liberation

army and so were a circle and all these grassroots campaigns last year of course we had crass a p. morgan by so for now i see the some bloggers have taken up the cause tell us about why announce given announce 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 of it's 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 your cue morgan down and she's basically saying you know you've got to understand if a physical realm doesn't equal the paper realm and anyone that buys an ounce you do you leveraging those bankers wroth roughly one hundred to one and this is something you should own it is something you can give away as if you can also think of it as

some kind of a situation. give something of value to somebody else but only maybe a barter transaction but as a gift so i like to take you back again on what you started and she has your video up there again so maybe you're circuiting there are a lot of new people that max kaiser going to start to eat people haven't heard of you but you never know i knew they were going to mention that the race yeah physical selves are 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 that physical now recently there was a smash the silver price for one hundred ten thousand paper contracts silver were sold in the last then an hour or so how many ounces of this is there in one

hundred ten thousand contracts and is this unusual to have a morning very unusual and maxence going to back up if you allow me but you know just christian is the one that during the testimony about manipulation silver market testified before the see if you see that the paper to fiscal ratio is roughly one hundred one and we usually have jeff out to the silver summit here in spokane every year and getting 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 how that for our members and the members part of the more going to pour but anyway boyd forward yes the smash down it was roughly one hundred ten thousand contracts five thousand ounces 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 mine in a year and all that took place during one trading it's session on the c.m.e. and yet the authorities just look 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

that the that they want to give up that they have no recourse and you can't control that of course because the see if the sea won't patrol what the mandate says it should but to me i want to make the point that eric sprott who started the p.s.l. beat a physical sort of trust recently did a shell fall of one point five billion ounces. not that long ago it took a chill falling down in the chute about three hundred million dollars to buy roughly ten million ounces of silver when that physical ten million ounces of silver was bought the price shot up from the point it was announced to it was collected roughly two 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 max i mean that again shows the point of what you started with the buy announced take down j.p. morgan this by an ounce given ounce it's all about taking the physical and holding

onto it because that is what do you leverage is the system to take 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 press t.v. morgan buy sell or buy announced given hands that are going to evolve with i 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 that eric sprott we're not talking about by an ounce given ounce we're talking about that billionaire one of canada's leading billionaires is talking about buying a billion dollars worth of silver at a time and now you probably have more caught why no you must have more contact eric sprott than i do personally but it's he 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 paperbarks. well he's never told me that but it really talks about the pay system initially and how unsafe it is and how safe it is to own a mettlesome that's really your only asset class you can hold outside the banking system you know exposed to these banking problems that exist so that's number one number two yes he she saw were similar to pricey is probably the best investment over the next ten years and it goes through his numbers which are very similar to mine and there's reasons why what you can are similar and i really do believe that he put up a shelf filing just to have the ammunition ready to fire away there's one point two billion dollars left on that show filing so you know at the time of the price but it could be roughly fifty million ounces of silver is 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 he's going to buy more physical so i see it is very bullish as i said and i think that we're not going to win i also thought 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 call 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 mark 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 venezuela repatriate and all we see repatriation and all now being talked about in switzerland what's this trend all about david morgan is a piece of these countries finally waking up to the fact that they don't have the

physical on their vaults and they don't have it both jack lee and i think you were instrumental in getting people where that you know and now they're following through with action you know it's all the schools not money i mean you testified i think ron paul asked him about gold and 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 settlements the bankers bank you actually used to be able to be a stockholder in the now that's a truly private again they used to account for every asset and gold only in other words they don't care what member banks again this is the top as this is the highest bank that exists at least to my knowledge a list of some black banks somewhere in the windows of the bank of international settlements accounted for everyone in gold already 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 get i think you were instrumental in getting that started and now these banks are getting worried and they say you know something really takes

place we don't want to record in the new york fed i was in new york oh i don't know a couple years ago had two hundred fed took some photographs to a little video for 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've been aware of it and how many people realize what explore all you know surface area this is relative to the whole planet gold is where gold is scarce gold is valuable right now i imagine that be i asked the bank of international settlements they also came out with a report last year as a recurring ongoing look at the positions in the derivatives markets because they are and try to keep track of these markets and that's where the data came out originally about taking morgan's three billion ounce of sorts they've got a palate see that looks like mt vesuvius the day before blows up if silver gets

over fifty the i think j.p. morgan stock is worth zero that's worth my work's tells me 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 or totally broke right now i mean they are absolutely insolvent so how do you blow up a bank that's 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 that's very relevant of what eventually will happen i think more importantly is it doesn't have to get to that price i think for no people to wake out 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 will young dealer friends need to get in the market because it's a margin business so you've got to hedge to offer daily activity in a mine might hedge off 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 so it really happens to thetic like stop 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 you know they've been looking at missing for years now and have yet to make a statement and then this happened just recently ended last smashed down again no comment i mean i think the people that had people are awake and aware of certainly had it and it just frustrates me david morgan rather 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 not going to do it for this edition of the kaiser report with me max nasser and stacey had our thank my guest david morgan

from haifa an investor that com he is these were a guru make no mistake about that not to send an email that has a reported r t t v dot r yeah and the next time it's a nice guy they're saying via. home . from.