we are listening and of course find out what i'm not what i'm doing when i'm not sitting here you should follow me on twitter at christine for example but for now i hope you have a great night and a great weekend. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else here so you saw the part of it and realized everything you thought you knew you don't. charge is a big. cause

or this is the cause report young goldman sachs or stone stacey max when you were a banker on wall street did you ever written any body's eyeballs out. common vernacular for just wrong or cost them or rip their eyes or tear off their head put down their neck you know typical things like this the idea is to destroy the customers ok well we're talking about goldman sachs why i'm leaving goldman sachs this is the viral video of this week the kone twenty twelve this week greg smith goldman sachs executive director and head of the firm's united states equity derivatives business in europe the middle east and africa he spent twelve years at the firm is now wrote a letter he resigned with a letter to the new york times explaining why he's resigning and said that the company is toxic and destructive and he said what are the three quick ways to become a leader at goldman sachs a execute on the firm's axes which is goldman speak for persuading your clients to

invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit be hunt elephants in english get your clients some of whom are sophisticated and some of who aren't to trade whatever will bring the biggest profit to go. or c find yourself sitting in a seat where your job is to treat any illiquid opaque product with a three letter acronym right well the take them in order the first idea around the axis of the product line i mean goldman like any wall street shop is in the business of repackaging stocks and bonds into some exotic flora and fauna the idea is you can charge huge commissions on these products the vig the spread these are the usually never reported to the customer they mark it up five percent six percent the last as you can mark it up by more than a small percentage but they never actually report the markup as an internal markup on their desk and would when lloyd blankfein says he's making a market what he's doing is he's marking off the price of in-house packaged joke

what they call on their axis so customers with the second they buy it there are mediately down five percent or more twenty percent in the case of some of the liquid the writ of contracts they're down fifty percent the second they take possession of it or they're down one hundred percent they're literally selling them tainted meat that's filled with maggots of risk now the second point that they make about this the way of the elephant hunting i mean this is elephants and also you're hear people on wall street first to whales that they go away also the big customers and the exact same are good oh that one finds in a los vegas las vegas is dominated by the wails of people come in who are willing to lose millions for a free breakfast now the thing about laws vegas is very similar to wall street is that in vegas you have hosts and these are not all that not always hookers they sometimes are just guys who take clients of the of the casino out for

a good time and they take them gambling the hosts are paid as a percentage of the amount of money the customer loses. and this is exactly the wall street model with someone at goldman sachs makes a ten million dollars bonus or a thirty million dollars bonus he has lost for various clients including greece or other countries or other corporations three hundred or four hundred billion in losses he's paid a percentage of bell losses this is why the global g.d.p. is in retreat this is why the united states to increase our debt load to fifteen sixteen seventeen trillion to paper over the losses that goldman is in the business of delivering to customers many of which are too frickin stupid to understand that it's not necessarily green idea but a lot of c.e.o.'s are so frickin stupid because the cost of money is so cheap that they're willing to give away their company their family their life for just such an arrangement ok so here this racket is going on this is the way goldman sachs is

operating and if they're operating in that with that mentality of course all of us are muppets so let's look at the biggest markets of all in the u.k. britain to offer a one hundred year gilt meaning current government borrowing will not be repaid until the next century under a radical plan to be unveiled by george osborne in next week's budget similar guilt have only previously been used to fund the first world war and the fallout from the south sea bubble when speculators almost bankrupted the global economy the exchequer in the u.k. is still paying interest on those loans underlining the scale of the economic crisis now facing the country this is a remarkable story they are offering one hundred year gilts and as i was born and others point out they haven't done the sums to collapse of the south sea bubble they have a collapse and then the operators one under your guilts to try to refinance the

british economy using the quantitative easing of the day to reliquefy banks to you know offer that up to the insiders notice that it came. after the south sea bubble craft here they're doing it before before the mega craft that's cooked into the cake at this point and what this tells us is that the global economy particularly in the u.k. where the jet the debts the g.d.p. in the u.k. clued in bank that is just under a thousand percent of g.d.p. there has already banned this magnificent crash in the u.k. economy but cam'ron. he n r was born and mervyn king over there to bank of england through price manipulation. are are hiding the crash essentially but now the people on the street are beginning to feel because for example gas is an all time high priced in british pounds that's the result of oz born sneaking in this one hundred

euro guilt and other quantitative easing techniques to try to hide the fact that they're standing in front of the curtain that's hiding like the wizard of oz this multi-tiered the british britain has over five trillion pounds in debt that's they're not even officially keeping on their books well ok let's talk about this hundred year guilt however who sold it to them if you're sitting at the table discussing a derivative or a product on the goldman sachs you can bet your the market so look at the prospectus speak and the way the treasury sold this to the media who doesn't ask the questions a treasury source said tonight this is about locking in for the future the tangible benefits of the safe haven status we have today the prices lower debt interest repayments for decades to come it is a chance for our great grandchildren to pay less than they otherwise would have done because of the government's fiscal credibility and this is it to put it in

wall street terms a roll up a roll up so you've got five trillion in debt in britain and you've got it you've got an economy almost a thousand times debt versus g.d.p. there's no way that they can generate the growth to pay that debt for one thing they sent all the jobs overseas right they only have financial shysters in the city who are doing shell games of paper and that's generating enough income to pay for the debt that will never ever be paid so when they do they roll it up they say we're going to take this five trillion or twenty trillion pounds of debt and we're going to make it into forty trillion we're going to extend the maturity out by a hundred years so the coupon rate is still the same so your interest cost don't go up but your indebtedness now isn't it goes out to. many generations going forward and relocked into that and oh by the way the austerity measures are going to have to keep on coming to pay for i was born in the you know newfangled absurdism

well with these low rates we have the next headline max richard branson is plastic financial apartheid with rates from borrowing by banks at record lows this type of rate rape is truly sick so you remember sir richard branson was able to buy northern rock the state owned bank in the u.k. by promising that he was going to introduce competition and innovation into the market well sir richard branson of virgin money which recently bought northern rock has increased interest rates on its credit cards by almost fifty percent and the latest blow to consumers already hit by rising mortgage rates the bank rupe has issued a take it or leave it all to me tim telling customers to accept the rises or pay off their balances talked about muppets at the start branson has had those big did not know who to. call who who wrote.

and then the buzz it of course he's part of the club any jacks people's rights up and he commits financial hole cause he could financial part time he's an ugly ugly british muppet who is basically also on his knees in front of osborne performing services well the credit card rates they're charging are now twenty four point nine percent let's make a fifty percent what is called the straight you know model ladies you piece of trash so here we have. our governments taking out one hundred year mortgages on our country essentially in order to give these banks which goldman sachs executive director has just said are continuing to defraud the population's right so forcing us to continue to use their products. now look at this next headline max f.b.i. says paying cash for coffee is a sign of terrorist intent so apparently the f.b.i.

has sent around this memo saying using cash for small purchases like a cup of coffee gone and other items is a good indication that a person is trying to pass for normal without leaving the kind of paper trail created using a debit or credit card for small purchases because if you're doing god's work you would use it for good cards so that richard branson can make the person on your money otherwise if you don't have your money. you're anti-god your infidel and of course their call of be on the call of george cameroon and they call up all of these and they say let's go kill some people out there let's go invade a country let's go kill iraqis let's go kill afghanistan so the rich are president to overcharge a party to remove the people in charge fifty percent to go get a cup of coffee those who we step program by the way come you look at the different police state. and then finally you know we have these bankers trapping us all into their high cost loans and trying to basically criminalize owning or using cash

so however what about laundry detergent max grime wave it's a dirty job police nationwide take on soaring tide detergent theft law enforcement officials across the united states are puzzled over a crime wave targeting an unlikely item tied laundry detergent so tide has become a form of currency on the streets detective larry patterson of the somerset kentucky police department where authorities have seen a huge spike in tide laundry detergent that says there is no serial numbers and it's impossible to track it's the item to steal well as we find out during the two thousand and eight collapse the economies are on drug money cocaine money from mexico that's the single greatest source of actual cash to run the economy now because the banks are not loaned into the economy and they're hoarding. the cash people are saying you know what we need to create our own cash so whether it's tied or hundred it certain to clean up their money laundering or whether it's

a stick of gum or whether it's whatever it's going to beit we're going to create our own fashion our own economy because you're not letting us live in this economy you know richard branson is trying to financially rape was twenty four hours a day so what if we get to use tide lot of the thirteen to escape is rape farm and that's what we got to do so this is what the people are doing i say tell you know find get a life use your time on there is a currency and wash your clothes at the same time oh it could be better all right stay here we got to go thanks for being on the gaza report thank you so much for coming away so stay right there are. going to. be a social implications to hong kong pulled talk from the top story. tonight

on the good. video on demand on t.v.'s my old car. omissions for now in the palm of your. question on the call.

back out your welcome back to the kaiser a part time now to go to los angeles and talk with jeff shoddily lame gagan up live stream syria all right jeff welcome to the kaiser report william walker the kaiser report based around us they surrounded us all right fantastic so well you've just returned from syria where you traveled on a crowd funded piece of journalism crowdfunding the dragon slayer to mainstream

media the new paradigm buster tell us about the process of the site that you did this on how much did you raise and who chose the location to start off i chose the location it was something that i had been thinking about watching the news and i had a crowd on it because that's the way we work here in the united states is crowd funding every trip that we did so i actually used a donation site called we pay to crowd fund it i put out a a call on the internet through facebook and twitter and various social media portals and basically said i want to go to syria i want to live stream i want to show the plight of the people there i want to tell the truth and you know i was able to raise about five thousand dollars over the course of about a week and a half fantastic now jeff year background is computer security and as

a teller comics agent so how did you get involved first in the occupy wall street movement and now in this crowd funded reporting project well basically i got first got involved in the occupy wall street movement when i saw some videos being. being displayed that were getting mainstream media attention to scottish and video of him getting hit in the head with tear gas canister in oakland. the other videos. berkeley keating videos and basically work from a communications perspective in a distribution element to help get those videos out to mainstream media and as far as uk life in syria goes i was running operations for will as has it had quarters at our headquarters in new york and once willed it is first broadcast in istanbul he was receiving death threats and people were claiming he was a cia agent and we also learned about some syrian malware that was being developed and distributed to target journalists and activists so we knew that we need to step

up the security element of things will called me and said come over and i got a ticket within a few hours i was on my way now it's very exciting with us all crowdfunding phenomenon is that in the space of p.d.p. networking and this also all networking revolution and then of course with the internet you have incredible ways for distribution but up until now there's never been really any way to do the funding aspect of these productions so now finally you've got peter this p.t.p. social networking phenomenon has a dissenter mediated if you will have got rid of the the gatekeepers on the funding side so you guys are completely free to produce distribute and fund these projects now let's focus on the syria subject for a moment native bakri a lebanese turtle is covering syria for the new york times said quote it's been very hard to cover syria because you rely on activists accounts activists they have

never met you know you don't know where they're at what their agendas are now if if this journalist who is very familiar with the region and who speaks the language isn't an able to discern the agenda of all the desperate elements there how did you guys navigate this issue because obviously you're era stranger in a strange land how did you navigate through that well we have contacts we are contacts. a lot of activists with the f.s.a. with civilians inside of syria and in turkey and pretty much we just we been digesting as much information as possible from these people we're trying to just report out what we actually see from our own eyes and develop some of our own contacts on the ground you know we we went into syria we we took our own our own route in we were led by a syrian military defector and we interviewed the f.s.a. we saw one of their camps and you know we were trying to get information from the

people directly from the people as to not be biased on either on either side well clearly in the case of the syria reporting it's incredibly lopsided when you contrast it what's happening in a country like bahrain and i know one of the mainstream alice out there al jazeera english is now in a tremendous flak that they're getting because apparently they're completely biased suddenly they're not covering bahrain at all and they're just going what the the government in syria and their line of thinking and you guys are there you're on the ground you're journalistically doing what a journalist does see looking for the truth but of course there is another element to this networked world that we live in because you have guys so-called activists like danny from syria who c.n.n. is being there to prove their force to prove that he's not fake he's their guy on the ground in syria so how do you deal with this because it's

very difficult in this in this age of. it's very easy to go in in a country like syria and shoot on great equipment and just you've got distribution you've got funding but it's also great to come up with fake news it does seem to be an inquiry an increasing problem how do you deal with that i think being on the ground there for us it was actually what we are. trying to do was we were trying to bypass those activists and bypass you know those people and actually go see for ourselves so we could actually report back to people that actually might trust what was coming from us word and they're going to trust various activists reports and the mainstream media who are actually feeding off those activists and those reports and so that was i mean that was our purpose in going trying to find out the truth for ourselves so we could take it directly back to everyone at home and i think that's that's really valuable to the people back here is that they can actually see

it firsthand reports from from us that is not coming through multiple people before it gets to us we're telling the truth of what we're seeing right there before our eyes i think it's also important to note that when we got on the ground we were attending pro side rallies we were attending you know anti assad rallies we were attending all of these different meetings and meeting with you know working with activists and working with the pro side groups in turkey and in syria so in just showing i think a lot of media will only show one side and picture and what we want to do is just show show show as much as we can from both sides and able to discussion from that point in the future a more crowded funded journalist the more dependent journalist we can get on the ground around the situations i think the truth has a higher probability to come out i want to ask a something more of a personal question what in the last two or three years or five years what is an inner event or action earth or a person galvanize you on

a personal level to go down this path of truth seeking and to go in these warped foreign areas can you identify any one event or person that really got you in this knowing on this path i have to say max for me it's my mother you i mean you've been following the occupy wall street movement here in the protests and whatnot and when that started i had just actually had tragedy in my family my mom lost her busy. miss and her home due to the economic crisis here in the united states and so for me it really got real at that point and then occupy wall street started and i really felt you know this is what i've been waiting for and so i stepped out of my normal life as a college student and a bartender working in a restaurant and left all that behind quit my job and quit school and left to start covering these protests and i almost from day one i became an independent

journalists out there live streaming. that that was my motivation and sense senate is just the next step the next step in that progression and in syria was the last step and who knows what the next one will be our last thought about the next one i know that you were going to go to the g. eight chicago they've moved it the venue to camp david but i think you're still going to doing something with the g. eight i know something isn't part of my film it's listed people or if you want to help crowd fund your work i can go to part of my film dot com but what is there are g eight film it coming are you going to bypass the g eight are doing something for ga we're still going to go to the g. eight and we're also going to be in nato in chicago that's going to be you know the protest laws in chicago that been implemented are providing additional challenge for us and we're going to use it to showcase a lot of new tools in citizen and independent journalism we have a drone helicopter that is capable of live streaming we have cameras that we can mount on buildings that can stay live for days and days upon end without having any

recharging and we're going to set up our headquarters and our hub there and all to our alternate communication networks and we're going to we're going to capture what goes on there maybe we can turn it into a turn into a film if the battle in seattle is any indication of what's to come and in chicago for nato and all of the activists that we're seeing already booked tickets and hotels to fly in from around the world you know i don't think it that sense since the g. . it has been moved i don't think it means that we should we should pull out from protesting or for covering the protests rather that it's the time that we should you know stay strong and advance to cover these these events. and echoes from both the dado n.g.a. pro you mentioned the battle in seattle which was anti-globalization protest really to keep things off i think thousand nine hundred ninety nine and there was a huge outcry from around the world and then the momentum of that was really snuffed out two years later with the events of nine eleven and then this coalesced

again in occupy the wall street which is really a space that came after the the battle in seattle but looking at the historical frame of reference area talk about chicago you go back to nineteen sixty eight of course the democratic national convention i think sixty eight this was an extremely important year in political activism around the world that was against the war the vietnam war but it seems to me as though we are in the midst of another war this is a war against it's tough to figure it put your finger on it but it's a war against civil liberties as the war against freedom of the press is a war against your generation it seems almost intergenerational that the old guard is simply taking all the money and running leaving you guys i am dry would you agree with that certainly i feel like our generation is feeling it more than the

last generation i feel we at this point have have started to realize that something's wrong and feel like somebody's sticking it to us and you know to be honest it with technology and the way social media and the internet works today we have a way to communicate that among ourselves and so it's it's not the same as it was ten years ago or twenty years ago we can instantly communicate. what you know our our our fears about what's happening and organized better because of all the platforms that are out there that we have at our fingertips you know twitter facebook my films you know with it we've used tools we're going to be able to make a change and communicate effectively which is also why i think the powers that be want to institute. rules and laws and censorship and censorship bills like sopa and act to to limit the capabilities of the game changing too which is the internet

sadly lame gagan time but thanks so much for being on the kaiser report we'll be checking in with you again soon. thank you very much all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacey herbert and i thank my guests jeff shoddily and william gagin kind of send me an e-mail please do so kaiser report at r t t v dot are you until next time nice guys and bio .

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