i'm a lobbyist or head of a trade association is there's only thing and then you know lo and behold after he left office he joined the a.p.a. i think you have like a million and a half dollar salary is his first year any pushing all sorts of laws for the for the movie industry that really honestly did not champion a public interest. that's going to do for this show we'll see you right back here and half hour. good afternoon and welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for march twentieth two thousand and twelve the g.o.p. is out with a new budget for the u.s. kenya see what's missing from this picture there is something. a glaring missing

from those assumptions it affects the entire world and you could argue well that you know if you can't figure it out we'll break through the p.r. and more of the wool the establishment is trying to pull over your eyes from m.f. global to the jobs act to the mortgage settlements and ben bernanke he started his college lecture series today what is he trying to achieve exactly. we're going to talk to you. the most urgent is being good is on our mind what we suspect is the most urgent thing on the minds of those who will connect with us. in that vein is he indoctrinating america's college students trying to initiate them into the cult of support for the fed attempting to set the narrative and right history will discuss and we have the evidence that perhaps goldman sachs bankers and muppets are so different after all. there's so much. money.

today the muppet doesn't the ones you just saw it received a star on the hollywood walk of fame much better treatment you could say than the real life was goldman sachs according to greg smith's op ed and more goldman alum who have come forward about the firm's buffett customers will give you the round up . as a new round of staff cuts a cold men are god's latest work let's get to today's capital account. as you heard me say federal reserve chairman ben bernanke he began his college lecture series today he spoke to undergraduate students at george washington

university right here in d.c. becoming the first fed chairman ever to help teach a college course now eighty students apply wrote as they really wanted to be a part of this to become indoctrinated and why the federal reserve is important i would argue let's highlight a few of his powerpoint lessons since we listened and watched his lecture attentively so here's where he's talking about the fed being the lender of last resort he says the qualities there are that they lend freely against good assets at o'connel too great to discourage excessive use honey ok so that's what he told those students that's funny though because we thought the federal reserve has done and you think but lend against good collateral in recent years you know traditionally the fed has accepted only the highest quality collateral in return for a loan the prime example of u.s. treasuries during the two thousand and eight crisis however the fed post-crisis was willing to accept the seemingly any dubious piece of highly overvalued paper paper

that was deemed a liquid or toxic or popular words by the rest of the banking system c.d.o. is full of things like commercial and residential real estate loans credit card loans auto loans student loans and the fed has offered trillions of dollars in. interest rate emergency loans not that penalty rate low interest rate loans that were not disclosed by the central bank until last year to keep banks like bank of america as an example afloat and here he is talking about what's wrong with the gold standard one of the things he says at the bottom is that the effects of bad policies in one country can be transmitted to other countries both are on the gold standard ok that's weird because we thought if you're on a gold standard. essential you can demand. other countries or other countries can demand gold in return for dollars if you start to print them but with beyond

currency if one country is devaluing this causes another country to do the same we've seen that with brazil and china in response to the us what's known as currency wars we talk a lot of them we've interviewed the bestselling author of that book who's talked a lot about them so this is exactly the opposite of what bernanke is saying let's break through the propaganda though that's coming from all directions it's not just the we have m.f. global we have the mortgage settlement we have the g.o.p. budget released by paul ryan here is to talk about all of this is gerald celente he's founder of the trends research institute publisher of the trends journal and i am so happy to welcome him back to capital account hi mr selenski well thank you for having me any time absolutely or always such a pleasure and so insightful so first i want to ask you because i sat through ben bernanke. lecture today and heard some assumptions that he made that i would disagree with talking about the importance of the central bank as

a government agency and the necessary of having a government agency with the public's best interest in mind what would you gerald celente tell those students about the fed and its mandate. well i think the whole charade this dog and pony show that he's putting on now talking to college students really says it all and it's all connected and people should understand that all this is high school in college for example the same politicians that are telling you what to do today are the same people that you knew in high school in college that wanted to be class president in the head of the student council well they swallow their career path and hear bernanke eat this guy's really united same frame of mind you know the professor the princeton professor you listen to me and to your assignment and you'll go to get

a good grade just pay attention and repeat exactly asthore me so that's all of this is lore and it's a charade it's a show it's high school usa yeah and it was live streamed all over the usa for anyone who was listening to that lesson cheer when maybe bernanke is hoping to have them repeat after him after all of the flak he's gotten some called the p.r. offensive speaking of professors gerald lee two of president obama's. nominations for federal reserve board of governors they testified before the senate banking committee today and you know even though some of them talked about a little bit of difference in policy perhaps maybe raising interest rates before that two thousand and fourteen date at the fed has given if things improve a lot a lot of the stuff i heard jerald wasn't to be encouraging jeremy stein is a harvard economic professor speaking of professors that just a fad has shown

a lot of bull ability to adapt and evolve in terms of the tools it is use to conduct its monetary and lender of last resort policies yeah carol no kidding it really have an advantage despite no change in its mandate when you hear these guys is. this is more of the same yeah and that was a long statement to say we're going to print a lot of digital one hundred years this is we had flooded into the system with near zero interest rates and again this is it's one big ponzi scheme look what's going over there over there in europe with the european central bank and you want to talk about great collateral warren what are they doing you know one point something trillion euros that banks could borrow at one percent interest rates just throwing junk on that they have no collateral they have no money and what are they doing well you know pay it back to us in three years just keep this ponzi scheme going so

the really what's and this is very important parallel it's going on follow back to the chris you two thousand when the nasdaq crashed and the dot com bubble burst what did they do after nine eleven they lowered interest rates to forty six year lows to keep the ponzi scheme going because the cats don't like to lose money and they have to make it back real quick but now they're doing it again but this time people don't have the leverage to pry home so what are they doing with it going back to the prince of credit card debt oh now they're buying automobiles and a lot of crap that they don't need at retail stores so it's really the same thing they're doing there we're doing is printing digital money not worth the paper it's not printed on as fast as they can and dumping into the system and when you're talking about consumers spending it on things they don't need maybe jerald that's because they are afraid afraid to take any risk with their savings look at every

third term conducted a study and found that not only are two thirds of working age adults believing that the u.s. economic model no longer works for the majority of americans but what is more striking to me is that now fifty one percent of americans they polled are not willing to take. savings that's up carol from june of two thousand and nine where it was forty percent so is this a direct byproduct of you know a vicious cycle where people are afraid to take any risk because of maybe what they've seen in the financial system but yet they can't make any money because they're basically repressed by these their percent interest rate so they're buying but screen t.v. the best buy or whatever well part of it but you know that yes that is definitely a part of it and let's look what's happening to the older people the retirees they're not getting any return on their body because of these viciously low interest rates that have put in place to what i call public enemy number one osama bin you know not hurting a lot of people with this low interest rates and then why wouldn't people invest in

the stock market or commodities markets she i don't understand why you m.f. global leavin brothers the goldman sachs of merrill lynch why would anybody be afraid to give their money to one of these are you know i just heard mayor bloomberg you know the billionaire bloom burden of billionaires have direct lines to god because he said that even guard would have trouble straightening out what's going on at goldman sachs yeah god kid straight now to hell let's make this really clear it's just for the record you know that money changer a long line of christ eating the money changers out of the temple the only time he becomes violent guess what the money changers are in control yeah here and just to set the record straight on i'm mayor bloomberg comment that even god couldn't run

goldman right now without a lot of flak and do you think that this is because i think that it's his job to support companies that are responsible for new york's tax base or do you think he has as you said is a billionaire a former investment banker really believes that goldman is doing god's work. well you know i don't know what he believes but it's a lot of crap and you know getting caught into those things like it's too good politicians like brock meaning came in and perry and the rest of them you know i got a telephone call from god and god said i should run for office i'm sick of these people telling me what god told them or god believes i mean this is kiddy crap along with listening to a lecture a bunch of college students how dumb or could this become how much more shallow does it have to be before everybody sees what a big show this is and everybody's it starts to calm osama ben bernanke either jihadi banker real quickly jerrold i want to get more into m.f.

global after the break because i don't think we're going to have time to right now but a new ruling interleaving brothers bankruptcy has keeping a.m.d. who is in charge of administrating m.f. global's it's in a global as european administrator and they are saying that the precedent that is that which says that customers with non-segregated accounts and segregated accounts basically are equal that you have no priority if your money was in a segregated account to get your money back before that non-segregated account holder you are a segregated account holder right how do you feel they're saying this is the president and that's what the courts are ruling over there those walis in robes and wigs in this thought they were all members of the club and what they're doing is they're giving their friends the money and the big guys got most of the money and they're in on the deal the j.p. morgan chase and the rest of them anybody looking at this you had that wonderful interview on with mark. yeah mark maleng really and he really laid

it out clearly that this shouldn't be a chapter eleven bankruptcy and on and on the whole thing well i is in john cleary resigned being brought up on fraud charge. it is when gary gensler the form is underling of john cause rod when they were both at the goldman sachs why isn't he now he's the head of the commodities futures trading commission he said it was freud and basic work language when you go into segregated accounts where i mean isn't course so i'm being brought up on four drawers why is it that every little person out there like us working people really get hit by the letter of the law put the people on the top get a free ride that's the question and that is the question and we'll continue to try to answer it on this show will continue to try to answer with you after the break but we have to go to break quickly will be back with more with gerald celente

founder of friends research institute publisher of the trends journal and also still ahead greg smith's new york times off a plane some goldman sachs and refer to their clients as muppets everyone knows if i now but it may be those employees that have more in common with the muppets after all will give you our three cents on why they're fifteen minute walk of fame is not over the first year closing market numbers. well with. technology innovation all the developments around we've got the future covered. the admission is free credit patient free. for charges free the arrangement three.

three. three the old sleep blog. for your media and free media. the a. leg. leg. the leg. her. mother the song . before the break gerald and i left off talking about the difference between how the banker aristocracy or kleptocracy is treated versus average regular people who aren't part of that elite class i want to really break down what i was talking

about regarding m.f. global before but before i bring gerald back because this is just completely insane to us so m.f. global's european administrator k.p.n. g.e. now expects litigation to deny payouts to clients or to delay payouts to clients after the landmark ruling and the bankruptcy of lehman brothers so in this ruling britain's supreme court said that lehman's clients whose cash the u.s. investment bank had mixed with its own have the same rights as clients whose cash was segregated into a segregated account so this means effectively for m.f. global that if your money was in a segregated account you have exactly the same right to claim it as if you didn't this just blows my mind and gerald celente who was once on our show telling us that his money was frozen in a segregated account as a result of this whole m.f. global debacle he said it was to the tune of six figures i want to bring him back in and just follow up with that notion of what we're talking about before the break

because just on a personal level do you think you're going to get your money back and how does that make you feel. oh it's wonderful i love lou i love my body being stalls i mean how do women like getting rid of this wonderful feeling as they could to what they could do anything that they would i haven't had a better day of my life wonderful advice when you find out you lose all that money over that's ok look when they bring that clown clothes line in the floor of the house to testify check it out all rubble in front of his name. but the whole game is rigged and what book we just had a major collapse the worst since the great to. pression think of the differences after the great depression the banks were demonized glass steagall was put into play now the banks became the too big to fail and we have to save them have you seen one with three head roll from any from lehman

brothers from morgan stanley from goldman sachs from countrywide some are kovi are not yet year old and they come up with is to pit why that their buddies do because it's just a revolving door that we neither it mick nor did know are right that we screwed you on and nobody goes to jail yeah so that's what the whole thing is as you played on that clear pitch really clear who was the c.e.o. what was the end of the treasury secretary of the bush henry paulson where was it from goldman sachs who's the head of the c f.t.c. gary gensler is he from goldman sachs who knows obama's chief of staff told a little while ago oh that was the daily wizzy from j.p. morgan chase who's the treasury head over there in canada oh he's from goldman

sachs who's the head of the european central bank now drug you guys chairman of the european division of goldman sachs yeah i mean what is it take a six year old to figure this out the merger of state and corporate powers is clear fascism and it's right in front of you norman sacks us says there you go and gerald you know the ball workers well people whose money has been frozen disappeared been stalling and don't know if rand are going to get it back you have people that are betting on this and they're investing on the carcass of m.f. global in fact it was the third most traded bankruptcy case in february after lehman and lehman former brokerage so investors think they're going to make big money on this a. yes some of our i get all these mailings from these different firms that want to buy that your wall says and again it's part of the casino this is what goes on when by the way here's something that really slipped away how about dad guy terrance duffy you know the guy with a big mouth over there from the c.m.e.

group that told everybody you have a videotape and put it up there to see if the group has a hundred billion with a b. worth of collateral to crack losses such as the one that occurred with m.f. global how come nobody's calling them out on the coffee instead they're running these two bit ads on bloomberg and everywhere else saying how safe you all are with c b yes why isn't anyone calling out current stuff the who's on videotape saying that they have a hundred billion dollars back up for people that could shift it like i did in many others yeah well we'll play it out again and again gerald until something comes out of it which we certainly hope it's some kind of justice is served i'll be sure to ask your questions about fraud to bill blackie the former regulator who we have on tomorrow so we can continue to follow this because it is so important and i really truly believe it is so under covered thank you so much for coming on and talking

about it i am giving you our personal you know response to it because this is affected you personally that was gerald celente founder of trans research institute and publisher of the trends journal. all right time for a loose change and before i bring dimitri and shannon here i just didn't get to jerold to talk about this chart that i brought up at the beginning of the show what's driving our debt that's part of paul ryan's budget plan because i asked at the beginning of the show what is missing take a look at that defense he doesn't put defense and there now i don't know how something that is nineteen percent of federal responding more than fifty percent of discretionary spending could not be considered to be driving the debt but i just

wanted to point that out to everyone as yet another example of the wool being pulled over our eye now let's bring dimitri and shannon in to talk about some of these stories that we don't want you to miss because greg smith claimed last week in his new york times op ed of course that some of his colleagues referred to goldman sachs clients as nuff it's that was just one of his scathing remarks about goldman sachs but you know maybe it's those employees that actually have the most in common with muppets look at this. trucker great show for trusting north. star so. look at that what do you know muppet mortgage lenders now muppets got a walk on the hollywood star on the hollywood walk of fame today a good time to bring out some of the muppet commentators that have come forward other goldman employees who have come out talking about their former employer let's

bring up some of the ones that caught our eye got a former partner with goldman sachs jacki zehner who said so much junk was created that should have never been with disastrous consequences and that will be a black mark on the whole industry for a long time as it should be that in and of itself is a testimony to the industry in general having lost its way when you can create toxic waste and make it as if it was not you are indeed harming your moral fiber and then there's henry gold the third great grandson of goldman sachs founder marcus goldman on an op ed to business insider he told them i thought it was spot on and then of course you have former investment banker himself michael bloomberg who came to goldman's defense and said this about lloyd blankfein he's trying to lead this firm in a time when god couldn't lead it without being criticized of the first week i mean max max kaiser has been harping on this for a long time about the divine right of bankers remember during the middle ages you

have a divine right of kings the king had a direct line to god and was able to therefore have the right to say whatever you want to do on earth. about jihadi bankers that's very important because the question is those who really believe that he and gold goldfine are doing are doing god's work or whatever god's word and i think he really does that he's a jihadi banker just like just like what i find he's willing to blow himself up for the ideology the idea that they are divine and they can do whatever they want so so basically there are muppets because we allow these freaking kleptocrats to stand on top of the pyramid and basically say we have a last line to god we know what god wants is they've got a call we'll talk to you we will tell you what to do speaking of god do you know what success now is like to be a tree because it seems like someone who may think he's god does. i'm worth many billions of dollars it's not the brag about i'm worth many billions of dollars

is a very simple she said i was bankrupt now i never went bankrupt she said i felt bankruptcy i never filed bankruptcy i never went bankrupt. that was donald trump of course firing back super defensively to rosie o'donnell's attack i think that was you know a little bit ago but now he's been out with a fragrance that is not smell of success do you think this is about success or do you think this is about donald trump then i am picking up lol well i just you know don't let me think he's god but i promise you that god has a much bigger rancor then donald trump ok because he know insecurity is the most direct reason why don't trump has such incredible security and he causes tell you what i'm worth many billions of dollars no down bro you make money by literally just i mean because joe why we should just go bankrupt once and for all instead of like shuffling around his visit remember he's not big rock for his economy we're going ever on they forgot about that ok we have to get to this story because it's so good so sweden may have been the first country to bring money to europe but now they want to ditch banknotes altogether and even add

a star museum i cannot pronounce is backing sweden's move toward a cashless society after his son was abroad three times listening. so the man who wrote the song money money money is now saying no cash in sweden what do you make it as a casual it's just a new world order that's the cashless control grid are if i do chip speaking of my arm and no need for cash the girls would love that right because then they just don't think i'm going to war then robeson to do whatever we want to miss this one have credit and that's it so this is great let me just if you if you go to the bank write your credit score also there you go we'll end on that cashless society coming to sweden who's next that's it for our show thanks so much for tuning in don't forget to follow me on twitter at lauren lyster going to speed back at you tube dot com slash capital account and from everyone here at the show thanks so much for watching and have a great night. download

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