global financial headlines. is a report on our. world. technology innovation all the developments from the road russia. the future. thanks for joining us at half past they are in character on cheers a look at your headlines. both for and against the syrian government it marks the first anniversary of the only arrest in the country that comes as britain's guardian newspaper releases what it claims are thousands of leaked emails from president assad's private account. holding up the pressure of the us wants india to stop buying the iranian oil trying to persuade the country to go elsewhere for its crudity meanwhile president obama house warns about the window for talks over

iran's nuclear program is shrinking. plus the taliban suspends peace talks with the u. was president karzai says he wants nato out of all villages after an american soldier and gunned down sixteen civilians in port washington and london maintain they'll hand over security responsibilities to afghan forces next year before coalition troops pull out and twenty four. packs of max and stacey discuss how financial woes have left europe licking its debt will the kaiser report is up next. max kaiser this is the cause a report last talk about yogurt kamikazes stay servers max kaiser there's a war on you need to be armed he says are you over kamikaze go let 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 very product to express their bubbling content against any parliamentary representative they happen to come across finance minister possibly would be leader even jealous then solo's was the latest victim of the yogurt kamikazes at a convention on saturday and the man who threw this yogurt at him was an elderly citizen who was using a crutch to help him walk up to the finance minister through some yogurt at him and said that he was upset with his pension being well the thing about this yogurt is that you know a lot of it and you live to ninety the problem is now up until now your pensions been stolen by the telco so all that yogurt is no good people are getting rid of it like what you're alluding to i don't care for the past fifty two years ago when the

yogurt in the face of the technocrats of stolen all the money rightly so well just so others out there understand what you mean by true that's max keiser pronunciation of troika. so you know here is one weapon in the financial war which is greek yogurt however the banks have far more weapons 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 formal. taxation that helps liquidate the huge overhang of public and private debt and eases the burden of servicing that such policies known as financial repression usually involve a strong connection between the government the central bank and the financial sector financial repression 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 many of people in the ghetto 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 because inflation because they themselves are plenty of money to buy whatever they need to buy no matter what the prices because they're printing all the money those people living in the ghetto the new ghetto the virtual ghetto ghetto of 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 could charge a higher interest rate that's not the case here for people who don't pay back their loans like the banks are counseling defaulting on loans themselves they could charge a low rates the people who actually paid back their loans are being charged higher rates so it's a complete bastardization of capitalism is 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 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 put a negative real interest rates but they're also negative nominal interest rates of . but the idea floating around that selling sovereign bonds a discount so that they would mature a loss of cycling so you're guaranteeing losses and the reason people would sign up to a negative interest rate or so u.s. treasury bother pays a negative one percent is that they can still use it they would prefer to use as collateral because it is very liquid 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 they think of four or five percent remember the scam with the wall street bankers the fed would lend them money 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 were up to five hundred thousand pounds and 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. very teeing more risky borrowers but this is another gift to the banks from david cameron you can't kick a moron. and it is absolutely a misallocation of wealth this all occasion 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 a printing of another huge trillion dollars of pounds of bailout money which will cause even more inflation does not justify the piddling a number of destruction jobs it does give away but i can moron is giving to the banks once again this constituency in georgia is more 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 than there are mortgage for occupier owners so you have this emergence of a renting

a crisis is 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 they should lift the market clear if the demand for housing is such that the price should reflect the demand the supply should reflect the demand that the man supplies supply and demand but you know that's not for cam come or on this isn't good enough for him you need to insert himself into the into the market and say no 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. 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 to pan intervene to help its exports after record earthquake and a tsunami a year ago while the swiss central bank imposed the cap to stem frank straight in september when the room for fraud on a five trillion per day for us market is enormous and this is only again empowering and rewarding the worst amongst society that becomes a cap a 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 is absolutely no need for a five trillion for export day unless you're trying to it's like you get a cut on your skin and the pus starts to lose and this is the forex market is the

financial plus trying to run into the cut that's been made into the global finance by insider trading and market manipulation from cam moron and mervyn king and ben bernanke gave the whole day every dime in the whole list of of who's wanted the most wanted financial 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 jim rickards has called it but remember john authors who we also interviewed from the financial times that. about a year ago on the show regarding his book about the financial crisis is he specifically mentions the four x. market and the that time is only three trillion a day now about a five trillion it's a zero sum game it's a genuine just war grand 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 main which leads toward incredible instability so the end they represent only 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 this enfranchise we won't hear about that many more except that. in greece for example my understanding is that they're starting to build more prisons so we have before 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 the euro

after joining the european union or drop the crow not in unilaterally adopt another currency and the situation can't remain unchanged since prime minister johana secret daughter 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 grew. join the euro and stop the troika and other bankers from picking it off and killing its sovereignty and turning it into a battle state the only thing that will save iceland if it really was to remain framed in a planet has to go to war with them mark. or declare war on denmark then immediately all the arms dealers in the world would start writing the checks and they would be

off and running and they'd 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 ass on him oh all right safe harbor thanks much man cause report here max all right don't go away they are out there much more coming your way. you can.

buy and nice guys are welcome back to the cars reports on how to go to dublin to speak with marco bron from gold who are hello mark welcome back to the kinds of report i saw it on again max 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 game on for the global currency wars the soaping in writing about it for a few years now and so he gets percolated to mainstream it in recent months it was reported or spiegel with their politicians that it was over actually outside the federal reserve. bank of new york asking questions perhaps german gold holdings you're going to the source of so those concerns are like transparency about where exactly are you going to reserve stores and then also solicit movements growing there are people who sort of

a website under under getting people to sign up in order to get transfers without the cisco reserves so regularly get a call back or not who knows because we don't know where the goal is and who actually owns the gold house from goldman sachs it's a marketplace it's a very opaque very on some spirals sector some from the reserves but i think you're missing the actually quite some very powerful nations economically and it would have quite a bit higher than where it was so i think yeah it possibly will that have a stronger consulate security alders a little bit smaller and so hopefully. nations who might have a little bit more difficulty in getting their gold reserves 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 going to woohoo grievously sleep in the small prints where at the base interest in berkeley political to go reese owns may not be their own national action or maybe

it was funny it was in the smaller the disagreements new york times. i suppose the concern is you know free society you would expect assets like that be on the table but i think we're concerned is the block transparency or the lack of oversight was under. very little they said it was a small print of one of the greenest. almost as there it is sort of a small new york times very large so it's a whole really. starts sort of. elect respect for granted rule of law and this parents should know exactly what's up with their own table which it should be publicly to every which you are under the. rush hour and well. 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 contrast this with ireland

who for some reason paid off a sign of irish unsecured debt of more than a billion euros and continues to dance to the bankers tune in just to scorching all this money what do you think of david's david mcwilliams point here that it's in ireland best interest to default and go the way of greece actually and not to keep discouraging their hard earned cash to these corrupt bankers. mcwilliams it's very hard to argue with him and he has been piling on the money into starker long years and the number of good over a number of years. conference report now very cogent as a rational argument that's the right should not aid these obvious that's. basic economic rationality and we can't afford. that and the stars measures of this make the economy much much worse than it was in greece so yeah we really understand them and they see what's happened as the boogie man of you know we're all told that to

be armageddon is in our hold your breath right now i find that was an act that that we like to go out in the country it's the no money. you know absolute classic and and then grease those and those it's a huge mass at the bottom not just providing the office at the start of that and yet the stock markets rallying around that nothing has materially changed the greek people are still suffering must live for nothing has changed but every other post reports that a lot of scaremongering by. most people and in fact separate senior people in going to be the i.m.f. or the e.c.b. or choice you know and they communicate this to our politicians basically bought into it hook line and sinker and under the scared of people of saying well the special that you know we have had all back within recently shown the way forward i do think that we will have us all and it's also its purpose because ultimately that

started their own failures no way our weakness in the economic growth cycle but two three four percent is not going to happen on time soon even if that's not possible oh. yeah i think so said mark a fine before we first of all we should. maybe we should before on the cycle as far as i will irish buying that's unsecured them should look at the secured that and then maybe then we look at the sovereign debt but i think we need to be careful with that a little bit and just see what's going on in the restaurant a little. sufficient better cause you know that there are risks you don't stick with no risk whatsoever there are risks with us research on the risks are far far less. then. a man of our you know financial armageddon if we didn't evolve as betrayed by congress. so i think that's where we'll have to go over this. yeah it's funny in ireland relationship with these creditors it the idea that if you default

you're going to cause an economic collapse and it won't be cash at the a.t.m. machine meanwhile the forex market has 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 you know the entire file 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 day you know if the entire country were to fall 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 am more 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 all horror is a prostitute and prostitutes don't remember you the next day they don't remember

remember fondly though that what you shared with them the day before you know they're just prostitutes or worse but mary 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 have arguments and write about posters their marriage for dr marshall segments i did and it was a four point seven true story for our. turnover of our church marks you know. and that's actually wrote. were you know when it's all this minute is far and system and yes you know a small amount. of a crater. again i think we spoke about this last time it's our finance permanent government not just an arm and i would say in most of our finance . i don't dare bases they are very strong. investment are so gross. i'm a who are protecting our own interests not interests of our acts are experimenting

. now we've seen the very visible results of austerity in greece and not just the riots but the homeless the suicides also the economic death spiral what are apple and output numbers in ireland these days a unique circumstance a consequence to be seen ireland as a result of the austerity we're seeing similar things to greece or not not house parliament on the scale of greece it's us rose form of greece life. we do have no safety valve emigration which you have for this year of course i mean i don't know piers are we have a bit too many people you know manorama brings up usually with an expert at last week. people working abroad. he were queuing as side door hundreds of thousands of people here if this conference in order to find out that opportunities were brought so that's one to say well who are for our efficiency will abuse registry.

the mission suicide increase that the figures are on the increase question mark with your romanist well. yeah it's. people are all isn't lost right but it's interesting i mean i live and work and go to city center and it seems to me to have a hudler for the sort of government it sounds like you know the city center but this person of. course of polar extremes of all it you would know that we're suffering from exhaustion possibly eric session you know but it's more it's more in the countryside it's also in in sort of sit on the north or the south side of one of them is much much higher but the warehouses are getting his air much more. then many of the classes i think that's partly because the process sows the teachers and nurses the cars the housing and a whole lot of pain in that sector and we're fortunate if you're going to make sure . economic sanctions favoring its own page you know that they will be soon seeing

at the start of my service of helping you out of those season the last rousted who actually pay out that there is good i believe we have quite a large state sector on that. i'm going to look at what should be looking at first it's right with so should look at our spirit told us that that little at first and then once it's taken care of then maybe we should look at the number of the say public sector. so that if it does mean that there will be a little bit insulated think this still a lot of places that government can rely on its actual risk of their picking and regulation the still remote risk of a very good point there is that risk and i think it increases is increasing but it's still quite remote but also more long term the euro itself will be problems in the long friends you know when you see the man that that he has been creating recently and that is going inflation plus years and information including non-serious. let me just ask you about iceland their former prime minister is our

trial now for his role in the financial crisis and do you see anything like that happening in ireland one leg let's say sharpish patrick for a man of irish if they get him on trial for financial terrorism did they see anything going down this path hopefully we will and i mean i think that's what we need and we need to learn a lesson somebody someone people who have been involved a secret bankrupting the country they should face trial in all. of the icelandic resting heart of the moment he's on trial you mission shot spotter i think they're at the ace of spades so to speak he's berger who was their openness for five months and he was the one she and he is the man who i would think most are who accept this primary stocker for the parents of our south korean there's a tribunal now that's only give its every fetus at trying to scar her shears and. they're going to give her evidence and he's basically asking for corruption and who

gives a supermarket on a car on the course yeah i mean. he the whole source allegations are he was a minister harnessing the power of compound. i mean this is their mosque that was on he was coke check has money stolen around you know and money in common and he said the money came from placing bets horses so i mean the fish trust . me i think right there the problem is i somebody is or let's remember who we should look at what the people most of them going on are on looks or so it's of course i'm going to probably my personal interest in everyone in the company but that's. my stock in service and we learned lessons of what's out of europe. so fingers crossed that. i might have earned thanks so much for being on the kaiser par at a time slots and that's going to do it for this edition of the kaiser report with

a maximizer and stacy herbert our thank mike o'byrne of gold corps dot com and i just i mean email please do so at kaiser reported r t t v are you on my side nice guys are saying. well. it's technology innovation to tell the developments around russia we've got the future coverage. home. from.

home. mom.