today europe's. blacksmithing have developed from a craft into an industry. where rough wrong turn into words of beauty. and where a village called newspaper hides them it keeps most. screen. russia close up. that are the headlines for you down here not. afghanistan security will be in local hands next year as the british and american leaders in the countdown meeting in washington investigations also pending into a possible assassination attempt against the u.s. defense secretary during his visit to baltimore country. syrian troops advance to several flashpoint cities here off the pump into up to your position

calls on foreign forces to moving in while the president has responded to the u.n. and arab league's peace proposals which include an immediate cease fire both sides . and illegal immigrants coming to the u.k. in search of work upon their dreams ending in homeless potency because many have merely detail convince them of the brave returning home. when x. emacs and stacey discuss how far that actual was left europe and licking its wounds because reports is next.

i'm max kaiser this is the kaiser report let's talk about yogurt kamikazes stay spirit max kaiser there's a war on you need to be armed and that's why you are kamikaze go for it go. then as they lows falls victim to yogurt attack yogurt seems to be the name of the game in greece these days as more and more people are using said dairy products to express their bubbling content against any parliamentary representative they happen to come across finance minister pasta would be the leader even jealous then a sailor was the latest victim of the yogurt kamikazes at a convention on saturday and a man who threw this yogurt at him was an elderly citizen who was using a crutch to help him walk he albums up to the finance minister through some yogurt at him and said that he was upset with his pension being well the thing about those

yogurt is that you know eat a lot of it and you live to ninety but the problem is happens now your pensions are stolen by the trucker so all that yogurt is no good people are getting worth it like what you're looking ninety i tell the killer for the past fifty two. when they're you know going in the face of the technocrats of stolen all the money rightly so well just so others out there understand what you mean by trocaire that's max keiser pronunciation of troika. so you know here is one weapon in a financial war it's in greek yogurt however the banks have far more where. and their arsenal financial repression back to stay says carmen m. rinehart on bloomberg as they have before in the aftermath of financial crises or wars governments and central banks are increasingly resorting to a form of taxation that helps liquidate the huge overhang of public and private debt and eases the burden of servicing that that such policies known as financial

repression usually involve a strong connection between the government the central bank and the financial sector its financial pressure max. could be called financial apartheid i like this one because you know apartheid you build a wall between the ghetto and the rest of the people and then you people in the ghetto you you treat them wrong here with financial apartheid or refine actual repair action it's all based on interest rates the people on the inside who peddle the credit default swaps for example their interest rates are negative two percent and of course they can just print money all day long and they give themselves huge bonuses and they don't care what happens to all that money if it causes inflation because they themselves are putting money to buy whatever they need to buy no matter what the prices because they're printed on the money those people living in the ghetto the new get out the virtual ghetto to get high interest rates are paying sixteen seventeen eighteen percent of those people are living of course in the high

interest rate get out now people say that well you know if you can pay back your loan you get charged a higher interest rate that's not the case here for people who don't pay back their loans like the banks are constantly defaulting on loans themselves they could charge a low rates the people who actually pay back their loans are being charged high rates so it's a complete bastardization of capitalism it's financial apartheid and it's happening right now in the place you just mentioned well all over the u.s. and europe and you know for those trolls out there here's the troll away thing because they're going to say max keiser there's no such thing as negative interest rates well that's what the financial repression is according to bloomberg in the u.s. as in europe at present this financial repression means. consistent negative real interest rates yielding less than the rate of inflation that are equivalent to a tax on bondholders and more generally savers plus negative real interest rates but there are also negative nominal interest rates as the idea floating around that selling sovereign bonds a discount so that they would mature the losses actively so you're guaranteeing

losses and the reason people would sign up to a negative interest rate as a u.s. treasury by the pays a negative one percent is that they can still use it they would prefer to use as collateral because it is very liquid that they hope that they can invest or put those collateral into an investment that would exceed the negative interest rates the stated coupon negative interest rate of one percent i think of four percent remember the scam with the wall street bankers the fed would lend them money at one rate interest rate that they would immediately blended back to the fed a two or three percent higher right so these interest rate boondoggles are going on perpetually and interest rates are a completely fungible item there they have no relation to any underlying economic activity whatsoever they're just completely pulled out of the tat of the central bankers based on their own constituents needs to remain in power and now as bloomberg points out their reason for this financial repression for the negative

rates is the alliance they say between government banks the fire sector finance insurance real estate are in cahoots with the government to financially past a certain part of the population so that brings me to this next headline max a continuation of this theme of financial repression five hundred thousand pound mortgages backed by the taxpayer as new by guarantee scheme launched so up to one hundred thousand people in the u.k. will get government support to buy new homes worth up to five hundred thousand pounds in a coalition move to revive the middle class dream of home ownership. so the new buy guarantee scheme launched by david cameron is where the government guarantees part of a home buyer's mortgage allowing them to take out much larger loans than they might otherwise be eligible for however it could also raise fears that the state could end up guaranteeing more risky borrowers but this is another gift to the banks from

david cameron. ok ok moron. and it is absolutely a misallocation of wealth misallocation of assets the money should be allocated to create jobs real jobs they should be allocated in ways that increase real wages of course people say well this is going to increase some construction jobs but compared to the speculative bubble that will be imposed upon the system that will need another bailout in two years time and the printing of another trillion dollars or pounds of bailout money which will cause even more inflation does not justify the piddling a number of destruction jobs that this give away by can moron is giving to the banks once again this constituency then when george osborne they're there for the banks this is another bank giveaway well actually it's also you know mollycoddling a certain sector of the population that is on the house and louder they do mention that the new house buyer is now in the u.k.

average age is thirty seven in certain parts of the u.k. because they can't get onto the ladder and they also said that actually for the first time there are more buy to let mortgages being issued then there are mortgage for occupier owners so you have this emergence of a renting a class of something that you've talked with with das with steve keen with michael hudson and this is the exact opposite of the capitalism that adam smith said should happen well there should lift the market clear the demand for housing is such that the price should reflect the demand of supply should reflect the demand that the man supply supply demand you know that's not for cam come more on this is. isn't good enough for him is to insert himself into the into the market and say you know i know better of the market and i need central planning to help me figure this all out which of course is just putting the economy even more risk i've got five trillion pounds in debt on the books right now and they're going to double that so again the global financial crisis one of the causes of it was the global housing

bubble so here he is stoking it again the other element to the global financial crisis was the four x. market currency volume surpassed pretty lehman peak bank of international settlement estimates so currency trading may have risen to a record five trillion dollars per day in september suppressing the peak reached before lehman brothers collapsed in two thousand and eight according to the bank for international settlements foreign exchange trading has surged as central banks including the federal reserve flooded markets with cash to combat the global financial crisis japan intervene to help its exports after record earthquake and a tsunami a year ago while the swiss central bank imposed a cap to stem frank straight in september when the room for fraud on a five trillion per day for x. market is enormous and this is only again empowering and rewarding the worst amongst society that becomes a pack of stock or see where the worst qualified in the most corrupt rise to levels

of influence and power and they have total contempt for a free market there's absolutely no need for a five trillion for expert day unless you're trying to it's like you get a cut on your skin pick the pos starts to lose and this is the forex market is the financial puss trying to run into the cut this been made into the global finance by insider trading and market manipulation from cam moron and mervyn king and ben bernanke gave the whole jamie diamond in the whole list of of who's wanted the most wanted fine. terrorists in the world well the article goes on to point out that it's part of a currency war as brazil has called it and as of course the record has called it but i remember john authors who we also interviewed from the financial times about a year ago on the show we guarding his book about the financial crisis and he specifically mentions the four x.

market and the time is only three trillion a day now it got up to five trillion it's a zero sum game it's a genuine just war ground there's many losers for every single winner well john authors wrote a great book and the thesis of the book is that markets are all tending toward correlation and that everyone is basically on the same bed for example over two hundred fifty hedge funds all own apple computer for example there's a tremendous concentration in that one name which leads toward incredible instability so the and the reputably of the crashes of course is increasing so the next crash they will have will be bigger than the last crash but of course it'll shake off more of the bottom ninety nine percent off the decks of the boat of the good ship global economy and they'll end up disenfranchised we won't hear about them anymore except that in greece for example my understanding is that they're starting to build more prisons so we have the four extreme ruling the global

financial markets at the moment now remember the first country to collapse because of the financial crisis was iceland because of the yen carry trade iceland will adopt euro or other currency prime minister says iceland will either adopt a euro after joining the european union or drop a krone and unilaterally adopt another currency as the situation can't remain unchanged since prime minister johana sigrid voter she said the choice is between surrendering the sovereignty of iceland in monetary policy by unilaterally adopting the currency of another country. or become a member of the e.u. so either way it's giving up your sovereignty these are the only choices our leaders are saying that we are presented with this is the only option you have is give up your sovereignty or give up your sovereignty yeah well the strategy won't work because remember greece joined the euro and the stop the troika and other bankers from putting it off and killing its sovereignty and turning

a don't vassal state the only thing that'll save iceland if it really wants to remain free in a planet has got a war with denmark. or declare war in denmark then immediately all the arms dealers in the world would start writing the checks and they would be off and running and they've been independent sovereign nation but if you don't declare war on somebody then you're just live and you know you don't live in the big house anymore all right safe harbor thanks much me and cause reporting here not all right don't go away stay right there much more coming your way. you.

i am nice guys are welcome back to the castle report time now to go to dublin to speak with mark o'byrne from gold core hello mark want to back to the cons a report i saw it on again not all right mark the people of germany and switzerland want to repatriate their gold from new york is this game on for the global currency wars and will germany and switzerland get their gold back if they ask nicely for it yeah it is going on for the global currency wars something in writing about for a few years now and it's only if you don't hurt me that the mainstream in recent months who reported or street will bear at our positions that it was over actually outside at the federal reserve. bank of new york on us actions perhaps german gold

holdings here and all the service of those concerns out there like transparency about where exactly are the german reserve stores and then also some of the. movements growing their own lives that have a website under under getting people to sign up in order to get transfers regards the swiss gold reserves so regularly a pickle park or not who knows because we don't know where the goal is and who actually owns the gold or have some good over software or lens it's a marketplace it's a very a very on some sirens sector. i think you're mississippi cripes so a very powerful nations economically and it would have quite a bit higher in the world so i think yet it made us we were going to have a stronger onset of secret orders a little bit smaller so nations who might have a. more if even go. well imagine the so-called pig nations in the case of grace the

adult some big you know pretty sizable gold reserves but now they don't own it anymore do they base it was. grievously sleep in the small claims where they see some tourists in the. crease owns may not be their own rational option or maybe your way but it was funny you got to sit in the small produce agreements new york times. i suppose the concern is you know free society you would expect to be on the table but i think more concern is the lack of transparency in the locker oversight was under. very little they said it was a small period of one. almost as it is sort of a small part of new york times where you are a whole really. it starts sort of. sounds a little like respect for the rule of law our parents should know exactly what's up with their arms table which it should be put on the table every group should be

aware or is under. a rush hour and. you know mark i was reading david mcwilliams this morning and he was talking about the fact that greece just a faulted and their markets are rallying and whereas he contrasts a business with ireland who for some reason paid off azango irish unsecured debt of more than a billion euros and continues to dance to the bankers tune in just discouraging all this money what do you think of david's they have a nickname point here that it's in and ireland's best interest to default and go the way of greece actually and not to keep discord in their hard earned cash to these corrupt bankers. williams it's very hard to argue with him and he has been buying on the money indices are long years and a number of other people such as austin good are a number of high risk accounts in our report and. very cogent and rational argument as to why we should not aid the goal is that. basic economic rationality i mean

we can't afford it and that these are scarce measures of those making the army much much worse than it was even greece so yeah we want to spend and basically what happened is the boogie man of you know we're all told that to be armageddon is in our results in your death by our spike that wasn't a bypass that we like to go out in the country it's the no money. class you know and that and then grease those and those it's a huge mass of people and not just providing that but others as a result of that arms that the stock markets rallied and nothing has materially changed the greek people are still suffering massively but nothing has changed the problem post the uk so that's a lot of scaremongering by. those people and in fact that grafting as it were in going to be the i.m.f. or the e.c.b. are destroyed you know and they've communicated this to our politicians who basically brought in for supply and sinker and be scared actually with saying went

on especially that that you know we have it all back i think recently shown the way for that and i do think that we will have to have followers of us focus because ultimately the debts are that there are no way how we perceive the economic growth like with two three four percent it's not going to happen anytime soon even at smiled you know. oh. yeah i think it's just a matter of time before we first of all we should. maybe we should before on the i grew up sorry that i will irish by and that's on security i'm sure look at the security that and then maybe as i say then we look at the sovereign debt that i think we need because without a little bit and just see what's going on in the restaurant a lot of it's issues back of the house. all of that there are risks you don't say there's no risk whatsoever there are risks with us on the risks that are far far less. then. you man of you know financial armageddon if you do the bulk of

the table bankers. so yes my i think that's where we'll have to go over the. yeah it's funny in ireland relationship with his creditors if the idea that if you default you're going to cause an economic collapse and there won't be cash at the a.t.m. machine meanwhile a four x. market is jumped to five trillion dollars a day there is no shortage of liquidity out there if ireland were default on all of its debt it's a basically a pimple in the entire on the on the on the on the brunt of the global money markets i mean the entire forex market trades seven eight nine ten times ireland's g.d.p. every begs are you know if the entire country would have thought nobody would notice much there being a catastrophe you know it's now it when i'm in dublin i hear people talking about i

have anglo irish as if you know it's their mother and their mother would stop loving them and then instead of understanding that i know irish is a whore is a prostitute a prostitute still remember you the next day they don't remember fondly that what you shared with them the day before you know they're just prostitutes or whores but barry in ireland they seem to be wanting to have a relationship with anglo irish who is not interested in a relationship they just want the money so you never heard of that right about those figures their marriage for several months and it was a four point seven trillion in twenty four hours. mark you know. and that's actually wrote obvious. leadership over that debt will be you know when it's all this money to solar and system and yes you know a small amount of prep. work. or you go and we spoke about this last time it's. finance permanent government not just an arm but i

would say in most of our finance. arm there being basically advice from. big investment banks grows. i'm protecting our own interests not second dangerous or acts are actors in each country now we've seen a very visible result of austerity in greece not just the riots but the whole most of the suicides also the economic death spiral. output numbers in ireland these days a unique circumstance and consequences that we see in ireland as a result of the austerity where are we seeing similar things to greece or not not out on a scale of greece or if it's us old one of greece life's. we do have a safety valve emigration which you asked for a because you were actually come back i mean i don't know three or four other have proposed american people i think the young men are emigrating was huge to the export of that last week. people working abroad on people were queuing inside your

own homes if you didn't discover in order to find out that opportunities were brought that's a safety valve or for that politician well that was your strategy three. the mission suicide increase the figures in on the increase question mark the fifth year of your remembers well. yeah people are all different but it's interesting i mean i live and work in the city center and it seems to me to her for the sort of you probably be in government get yourself like you know the city center because parts of that restaurants are full it you wouldn't know they were suffering from this monstrosity era session now but it's more it's more in the countryside it's also in in so over on the north side the south side of the pond is much much higher but the working classes are getting. much more. and many of the middle classes i think that's partly because of the process so the

teachers and nurses the guards the housing and a whole lot of pain in that sector. before so i think you've noted that at the nature of it the economic challenges facing its own situation you know that they will be soon as feeling and. service of. the season and also have to be with pay have that where there is it here we have quite a large estates they expect that. i'm going to look at what we should be looking at first it's what we so should look at our office building a step in real life first and then once it's taken care of then maybe we should look at the numbers that say public sector. so if it goes for me and if it would be a little bit insulated i'm going to think there's still a lot of places that our reliance national risk that they're picking up in terms of regulation the still remote risk of the very concept there is that risk and i think increases is increasing still quite remote but also more long term euro itself will

be values in the mountains you know when you see them at the e.c.b. and creating respect that is going to create a crisis years if inflation including months years let me just ask you about iceland their former prime minister a trial now for his role in a financial crisis and you see anything like that happening in ireland warning let's say sharp as patrick from mangalore irish if they get him on trial for financial terrorism the anything anything going down this path hopefully we will and i mean i think us that we need a man and we need to learn a lesson from this some people who have been involved a secret bankrupting the country they should face trial in all. icelandic resnik hearted he's not on trial you mentioned shots i think they're at the ace of spades so to speak he's her who was there for high amounts and he was shocked when she and

he is the man who i would think most are who accept this are married repair her message pipes out in their tribunals now to some events ever finding softer sheers on where they're going to get their evidence and he's basically arrested for corruption and who gives us and see what our findings are of course you know i mean he was also celebrations of he was a loser harnessing the power by a compact. i mean this is there are not circles on the news hole blank check person has to do with money floating around you know with money in common he said the money came from placing bets force so i mean the fish trust as i hope would be i think really aren't right that the promise of these operators are a mess we're in and who we should look to rather people most of the donor are on looks good so it's a porsche i'm going to probably my purse looking at our office in everyone who inequality but that's i think that makes absolute sense when the residents of

a what's up in europe. so fingers crossed. right might have earned thanks so much for being on the kaiser pyrite a time slots are i not going to dignify this dition of the kaiser report with me max hazare and stacy herbert i was like mike o'beirne of gold core dot com going to send me an e-mail please do so at kaiser reported r t t v are you so nice not nice guys are saying bye elf. i'm.