market trying to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines two kinds of reports. had been smart to the length. of time for. banks blacklisted by the worldwide system that runs global interbank transfers swift organization says it's taken the action to comply with the of measures against iran's nuclear ambitions as western pressure on the islamic republic grows. mass rallies both for against the syrian government model first anniversary of unrest in the country. and the taliban suspends peace talks with the u.s. and president karzai says he wants nato out of all villages offer an american soldier sixteen civilians in cold blood. now the cause report is on the air.

max keiser this is the kaiser report let's talk about yogurt kamikazes stacy herbert max kaiser there's a war on you need to be armed he says are you ever kamikaze going rico. 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 contempt against any parliamentary representative they happened to come across finance minister a possible would be leader even jealous then a fellow'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 those yogurt is that you know he had a lot of it and you lived to ninety the problem is now up until now your pensions were stolen by the trucker so all that yogurt is no good people getting rid of it like what you're looking ninety four to look past fifty to the book when the children 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 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 its 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 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 get 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

get out 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 enough 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 counseling 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 us 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 puts a negative real interest rates but they're also negative nominal interest rates are

. but the idea floating around that selling sovereign bonds a discount so that they would mature a loss the fact of late so you're guaranteeing losses and the reason people would sign up to a negative interest rate or so u.s. treasury by the pays a negative one percent is that they can still use it they 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 they're good for five percent remember what the wall street bankers the fed would lend them money one or interest rate that they would immediately have lent it 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 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 buyers 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. became a kick a 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 spread to live of 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 construction jobs that this giveaway by can moron is giving to the banks once again this constituency in georgia of war 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 by the let mortgages being issued than there are mortgage for occupier owners so you have this emergence of a rented a class this is something that you 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 let the market clear the demand for housing is such that the price should reflect the demand the supplies should reflect the demand with the man and supply supply demand but you know that's not for cam cam or on this isn't good enough for him he needs 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

be. all of it so again the global financial crisis one of the causes of it was a global house and volatile 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 some passing 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 a 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 caca stock r.c. where the worst qualified in the most corrupt rise to levels of influence and power and they have chloral 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 pos trying to run into the cut there's been made into the global finance by insider trading and market manipulation from 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 i remember john authors who we also interviewed from the financial times that.

about a year ago on the show we guarding his book about the financial crisis and he specifically mentions the four x. market and that at that time it was only three trillion a day now add 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 bet 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 end they represent only 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 this enfranchise we want to 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 extra years 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 the krona and unilaterally adopt another currency as the situation can't remain unchanged says prime minister johann a secret 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 you know well the strategy

won't work because remember grew. join the euro and that is stop the troika and other bankers from picking it off and killing its sovereignty and turning a don't vassal state the only thing that will save iceland it really was to remain frame in a planet as going 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 not live in the big ass an emo all right safe harbor thanks much me on cause reporting humor all right don't go away stay right there much more coming your way.

in a little. faster welcome back to the cast report time now to go to dublin to speak with mark o'byrne from gold core hello mark welcome back to the kinds report i saw it on again marc's 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 global currency wars stopping in writing a paper for a few years now and so he couldn't hurt labor to mainstream it in recent months it was reported or spiegel were there at politicians it was over actually outside at the federal reserve. bank new york and asking questions and perhaps german gold holdings here and on the surface of sos because there's other like transparency about where exactly are the typical reserve stores and then also some of the. movements growing there are people who sort of website under on the getting people

to sign up in order to get transfers regardless the source code reserves so when you look at the whole park or not who knows because we don't know where god is and who actually owns the gold house on gold and software records the marketplace is very very on transparency secor central park over what i think you're missing is that it's a quite still very powerful nations economically and it will have quite a bit higher than the rules so i think yet that made possibly we already have a stronger consular signals are a little bit smaller so how people nations who might have a little bit more difficulty in getting their gold well imagine a so-called peg national 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 basically who are going to glue grievously sleep in the small car and swear by it at the races dressed in berkeley that we're going to go. crisco nce may not love or be their own

national passion or may be given away but it was funny it was in the small group of disagreements by the new york times. i suppose the concern is you know free society you would expect assets like a yard sale but i think what concerns people is the block transparency on the lack of oversight was under and basically has very little said it was a small print that i wanted agreements. almost as a sort of a small paragraph in new york times very lucky it's a source a whole really. sort of. select respect for the rule of law and this parents should know exactly what's up over the course of their own stable which really should be put on the table every which you were under. a rush. like it's better you know mark i was learning 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 dance with ireland who for some reason paid off the time iris unsecured debt of more than a billion euros and continues to dance to the bankers tune in just discoursing all this money what do you think of david's day when they claim point here that it's in and ireland's best interest to default and go the way of greece actually and not to keep the discord in their hard earned cash to these corrupt bankers who really is very hard to argue with him and he has been buying on the money in this arc along over the years and the number who are good ever number of others because they are for you know very rational argument that's why i should not use or abuse that's. basic economic rationale is that you mean we can't afford it and there are certain measures are. becoming much much worse and seen in greece so you know we want to send them and basically what's happened is. it's boogie man hours you know we're

all told that to be armageddon is in our results in your death panel i find that welcome a backpack that we do not like to go out in the country you know many a. classic. and then greece goes and goes it's a huge must be problem not just providing it with others and ourselves and best and yet the stock markets rallying around that nothing has materially changed the greek people are still suffering mightily but nothing has changed but at the top of all people so that's a lot of scaremongering by. most people and invite sector senior people in the to be the i.m.f. or the e.c.b. or strike them you know and they say this to our south asians who basically bought into a supply of sincerity and they scared out of people in saying went on especially that you know we have it all back i think recently shown the way forward and i do think that we will have suicidal initial sense of us because ultimately that started their own failed there's no way to leave this economic growth i hope with

two three four percent which is not going to happen anytime soon even if that's not possible on. yet i think it's a say a matter of time before we first of all we should. maybe we should before con the cycle or i say that i will irish bank that's on secured then we should look at the security act and then maybe as i say then we look at the sovereign debt look at i think we need to be careful with that a little bit and just see what's going on and wrapped around a little bit suspicious that across that there are risks you don't know or it's rough weather where the there are risks where the speech on the risks are far less . then. you man of you know financial armageddon if we do the bulk of our table five years. or so i think that's where we'll have to go over the. yeah it's funny you know ireland relationship with these creditors it the idea that if you

default they're going to cause an economic collapse and there won't be cash at the a.t.m. machine meanwhile the forex market is jumped to five trillion dollars a day there is no shortage of liquidity out there if ireland were default on all the 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 tabun 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 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 all who are is a prostitute the prostitute still remember you the next day they don't really move remember fondly though that what you shared with them the day before you know

they're just prostitutes or whores but mary and arlene 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 government center right out those figures terrified of our segments and it was a four point seven through america who are going to turn over or you know and that's the actual moment wrote this you. know when it's all this minute it's foreign system and yes you know are smaller than our own are claiming they're going to crater armageddon. or you know i think we spoke about this last time it's part finance the permanent government not as an arm but i would say in most part of finance. and i'm there being basically advice from the. press and our growth. who are protecting our own interests not their interests are our acts are our experiment. now we've seen the very visible results of austerity

in greece and not just the riots put the homelessness the suicides also the economic death spiral what are the output numbers in ireland these days and unique circumstance consequences do we see in ireland as a result of the austerity were are we seeing similar things to greece or not not our spot on the scale of greece it's us also form of greece life. we do have to say people of emigration with you after all it's you personally i mean i don't know if your help we have of the people i think you know manorama brings you to the next pope every last week. he who working abroad. he were hewing have cited or hundreds of thousands of people get of this conference in order to find out that opportunities were brought so that's one for safety valve for for a bit of our efficiency. that we've used for this trip. the mission suicide

increase that the figures are and it is quite remarkable you'll remember as well arms yeah it's. people are all different walks of life purpose interest and i mean i live and work in the city center and it seems to me to have a suitable for the sort of government of yourself like you know the city center because parsnip you know the pope's and fuller restaurants of all it you would know that resulting from his must awesome session ever it's more it's more out in the countryside it's also in in sort of on the north south side at one point it's much much higher i think where the costs are getting. much more. then to the passes and i think that's our. process so it's good that the ship versus the guards the housing and a whole lot of pain in that sector. report and think you can get it through they sure are pit. economics sounds very gripping it sounds british but they will be soon. said marsh arabs of the alpha passes over the season also have been

looking to pay out that there is good we have quite a large state sector that. i'm going to look more should be looking at first it's wrong so some should look at our office step it really first and then we'll see taken care of then maybe we should look at the number of the say public sector. so that if it does mean that it will be a little bit insulated around the spill a lot of complacency of people realize the actual risk of surrender picking up in front of the corporate variation the still remote risk of a very promising there is that risk and i think increases b.c. still quite remote but also more long term the euro itself will be in the around france you know when you see the map of the e.c. has been pretty recent and that is a motion i see significant information including non-serious. let me just ask you about iceland and their former prime minister is our trial now for his role in

a financial crisis and you see anything like that happening in ireland were they let's say sharpish patrick or mine are irish if they get him on trial for financial terrorism the they see anything going down this path hopefully we will and i mean i can guess what we need and i mean we need to learn a lesson from this some people who have been involved in a secret bankrupting the country should face trial or now you have the icelandic resting heart of he's on trial. i think. in a sustained so to speak is working her who was there for finance and he was. she and him he is the man who i would think most are who accept this primary stossel repairer message ourselves then there's a tribunal now to some if it's ever finding softer shears and hand there that they're going to give their evidence and he's basically investigated for corruption

and who gives us and see how often fines are up. you know i mean he so there's also some allegations of he was a member of congress and the other party. i mean this is the little song. he was called check earth has to do with money floating around you know where the money in common any sort of money came from placing bets on course so i mean the fish rots bears and. i think like a partner's eyes and ears open of ears also when i scream and we should not say what the people most of the owner are on looks good so it's a poor shop i'm going to ever be my personal going to her office you never heard of her in the courtly but that's. my stuff that says you know i'm going to learn lessons of i walk south and here are. some things cost. right 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 me max hazare and stacy herbert i would 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 nice guys are saying bye oh. well. technology innovation all the developments around russia we've got the future covered. from. home.