to find out more in just a half hour but that's going to do it now for the news for more on the stories we covered you can head over to youtube dot com slash artsy america or check out our website at our cat com slash usa we'll be right back here at. wealthy british. time to. market why not. why i know what's really happening to the global economy with much stronger for a no holds barred look at the global financial headlines tune into cars reports on r.g.p. you know sometimes you see a story and it seems so you think you understand it and then you something else and

you hear or see some other part of it and realize that everything you thought you knew you don't. charge welcome to the big picture. max kaiser this is the kaiser report you've heard of urban blight but have you heard of a market blith. you heard her tell me or max she speaks blithely masters on the blogosphere silver manipulation gold x.

clients and doing the wrong thing so this is blith masters the inventor of the credit default swap and the head of the commodities trading at j.p. morgan a lot of concern has been placed though about j.p. morgan particularly its positions in the metals space and looking at your positions in silver we talked earlier about the volatility in the silver market can you talk about j.p. morgan's positions and price volatility and how are they related as i mentioned earlier a business is a client driven business where we execute on behalf of clients to achieve their financial and risk management objectives the challenges that commentators don't see all of that activity simple train is sleeping so just to give you a simple example we store significant amounts of commodities for example so over here on behalf of customers we operate votes in new york city in singapore and in london and often when customers have that metal stored in our facilities they hedge

it on a food basis through j.p. morgan who in turn has itself in the commodity markets if you see only the hedges and our activity in the futures markets but you aren't aware of the underlying client position that we're hedging then it would suggest in accurately that we're running a large directional position yet in fact that's not the case until we have offsetting positions we have no stake in whether prices price or decline rather we're running a flat or a recipe so it's not that she's lying of course we can go into all the different ways and she's lying but more importantly stacey glass has made a fatal mistake by by coming out into the public and exposing the fact that the silver market has a witch name is masters. and therefore we are going to new york we're going to be in new york april twelfth at eight pm et one seventy eight mob

street to rally the silver liberation army in new york city to new york we go well let's speak specifically about the life she presented here she said that we have no stake in whether prices rise or decline rather we're running a flat or relatively flat matchbook so what she's saying by saying we have a matchbook is that they have no net proper exposure i.e. they haven't broken the volcker rule so you are the inventor of the virtual specialist technology which is a market maker technology is she just say claiming to be a market maker and that it's all just providing liquidity and no big deal more she's going on for example takes twenty million dollars of orders for a downtick it takes one hundred million dollars of orders for an uptick but that's a completely lopsided market has been that way for years you know the market should have some kind of relative dynamism where a yes there is an imbalance and number of trades it takes to effect an uptick or a downtick and it changes periodical you throughout the trading day and over

a trading session and over a month but to have every single day this imbalance or takes twenty million for a down sake of one hundred million for an uptick that shows complete manipulation they have goal size of the book they are completely on the sell side with her naked credit default swaps and then she's asked specifically that while people in the blogosphere are saying that you manipulate the silver market and here her answer let's turn to this video again max because what is commonly out there is that j.p. morgan is manipulating the metals market and from what you're outlining that is not possible because of the different size of the business that you're in part of that's great good snow part of a business model would be wrong and we don't do it but manipulation is the very center of j.p. morgan's business model whether it's through the end of global for example where they got caught red handed the pending lawsuits in london. mortgages named for manipulating the silver markets the various fines that j.p.

morgan has had to pay over the past twelve twenty four thirty six months who are mark to manipulation you know there's sort of model their model is mark manipulation otherwise they would not be able to take these outsized bonuses and extracted from the market as they do unless that they are perpetuating some kind of fraud as even one kaufman has said if you're making more than two times the rate of inflation you're stealing he says it and jamie diamond and masters personified they personify after the last of the six psychopaths and we're going to new york and we're going to get this over liberation army rally these troops and we're going to march on these crooks ok so max here blythe claims that never would j.p. morgan take a position and especially against their clients so let's turn to a headline where the very same day this came out j.p. morgan trader accused of breaking c.d.s. index market with a massive problem position if you morgan chase trader of derivatives linked to the financial health of corporations has amassed positions so large that he's driving

prices in the ten trillion dollar market traders outside the firm said he's dubbed the london whale and his name is bruno excel in the london desk of j.p. morgan as you point out the very exact same day that life masters are saying that o.j.p. morgan doesn't take positions out of the clients of the desk is that out of control here is a huge profit or london out of control trading out of clients and committing massive fraud it right next to blight masters and of course london and life in london are where most of the frauds take place whether it's a g. lehmann brothers and of global the hypothecation or a up up occasion silver market manipulation all goes through blith all goes to london and we've stated time and time and time again well in particular the silver market manipulation is alleged to happen specifically through london this is what andrew maguire argues this is how he was able to front run j.p. morgan's own minutes. lation so if blithe master says no way do we manipulate markets how would how work team of traders able to front run them if there was no

plan behind what they were doing right while silver and gold are for life and these prop traders a source of funds they know that there's a huge demand for these precious metals as the central banks flood the market with cash so there's a natural upward bias and every once in a while they come in there and they clip the wings of silver and gold at these massive day because short sell positions and they book some easy money it's easy money it's a source of funds but there is nevertheless the possibility and the potential for individuals to buy silver physical take it off the market and boss their ability to rape these markets daily as they're doing now and the silver liberation army now is that enough of enough were occupied wall street is basically had its day the silver liberation army is the next chapter you know we're taking it now to the next level forget occupy occupy is had its day the as the s.l.a. is now this year's today right now and the great thing about the s.l.a.

is that the silver it was ron paul showed bodhran aiki you hold it up to the vampire you hold the salt of life masters the silver bullet we had great success last are taking it to fifty now we're going to take it to five hundred now let's look at this other story this ten trillion dollar market this credit default swap market investors complain that bruno excels trades may be distorting prices affecting bond holders who use the instruments to hedge hundreds of billions of dollars at fixed income holdings analysts and economists also use the indexes to help gauge perceptions of risk in credit markets is some cases the trader is believed to have broken the index wall street lingo for the market dysfunction that occurs when a price gap opens up a teen index and it's on our lying constituents yes we have explained that on this show. many times we call that price propaganda when they affect the perception of price when they arrange the index as it relates to the market they create

a response like pavlovian dogs you know you create a reaction when you have a certain price in the marketplace this creates or buyers or sellers and they know that so they exactly what's being talked about here you use your outsized influence in these markets to create a price that effects propaganda that creates propaganda and as their heads in the article about blythe was questioning whether or not they were working on behalf of the fed here the same thing you see j.p. morgan london manipulating the c.d.s. market altering people's perceptions of risk in the credit markets we saw the same thing with the libel rate altering people's perceptions of risk in the in the credit markets now clearly bank of england the u.s. federal reserve bank the central bank of europe they don't want people to perceive there to be any risk but they don't want people to perceive there's any inflation so they keep interest rates they're zero percent that's priced propaganda meanwhile

energy and food are going to all time highs now people say well what's the difference if they're manipulating the price of the upside of the downside they're still making money the difference is that at the end of the day they're flooding these markets with fear of currency and causing massive inflation and loss of purchasing power and negative real interest rates and lending to people like in athens or blowing their brains up thank you clive master you murderer you put up all the guys said clive ok now when you takes over the five hundred what happens we get rich it's our money we get to reestablish our money is and way more important than that because as all of these traders in the c.d.s. market in london are saying all this hedge funds hundreds of billions of dollars under their control and they're being forced out of the market by a giant whale who has the entirety of the federal reserve balance sheet the entirety of the bank of england. and she on their side they could do what they want they could smash you but at the end of the day masterson is not going to go down

into a mine and go mining for silver but i mean look look let's be clear about something they have the vast resources of the market as you just expressed they have near zero percent interest rates and they have a backstop with a central bank and they use this to commit fraud and it's time they make a mistake they put a gun to the head of government saying either give us another bail out or going to kill the economy i'm saying put an end to that cycle if you take silver to five hundred dollars and you take people's gives them the chance to own real financial independence as opposed to being the pendant the fed and on the governments and being a slave being in the pen did the declaration of independence he remembers those words ok it's all about what he says the constitution united states of america told and so over already all the recognized money i say sobers got another five hundred and we didn't do it so let's look at this lucian between these top

banks on the fed how they work together to distort our perceptions of what we see around us why the fed will intervene if stocks fall too far this is in the dow jones market watch ok this same sort of publication that would mock the occupy wall street socialists here they are saying and best looking for more federal reserve intervention can pretty much ignore the economic data the people don't matter and treat their sites around one area the stock market and how much of a drop it will take before the central bank comes to the rescue according to christian cross be chief market strategist have credentials annuities mr bernanke and former fed chair alan greenspan made it clear that the stock market is the transmission mechanism for monetary policy so here you have it the proof of why j.p. morgan. would be manipulating silver prices people laugh and say it's a conspiracy but here you're saying openly oh well it's accepted that the price is

transmitting monetary policy for a grocer like group of people who are benefiting from this private inflation that completely does a bypass around wages that's why when i'm in new york on april twelfth i'd be able to beat mob street in manhattan we're going to be rallying the troops they takes over to five hundred this is the next chapter and all of these people like bly and jamie are going down all right stays there was i so much because a report think humans are going much more coming or going to stay right there.

would you take three. three. three. three. three. three. video for your media projects. you know sometimes you see a story and sing so you think you understand it and then you glimpse something else you hear see some other part of it and realize that everything is all. part of the big.

imax concert welcome back to the kaiser report let's stay on the masters. of ache in the studio he is the author of master pierre the spider has come out of her mast she's made a public appearance on television tell us is this to try to deflect some p.r. away from for example goldman sachs and greg smith came out with that letter he said goldman sachs does all these awful things are they trying to get ahead of the p.r. curb by putting bull like out into the media what are your thoughts at this point. quite simple you know there's only one parishioner of like master response in d.c. and that was an interview made by book designing and the but she didn't spoke at the time for cheaper movie and she spoke for the so she was the head of the it was

one of the time this was the only mainstream interview of her and that was like four years ago four or five years ago and no. talk about this university you know they gave j.p. morgan gave five million dollars to the interest of denver you know you know special lessons from diplomas about commodities you know i could control commodities mostly and this is absolutely fascinating yes she came out first because they need to have students you know to learn how to manipulate to come on it is called this is called well let's say that you know. this is something very new basically and certain point is that we started to see a very bad press about g p morgan also and on the media point of view j.p. morgan have taken two pounds of goldman sachs by the way it was the super position

and foremost it was sort of a position in good position to disappoint the financial times wrote articles two days ago about j.p. morgan positioned specially on the m.f. global scandal which add up to goldman sachs so yes well the media points morgan is not very good shape let's just remind you a very important point to come from park who was the p.r. of goldman sachs that said that he has been fired has been fired for what's happened in the press was going on sex and who replaced from current if you know information or good it was the previous p.r. of timothy geithner it's interesting all right so on this topic incest let's talk about measuring geitner. life masters and jamie diamond i mean let's keep in mind that j.p. morgan has ninety trillion in derivatives that essentially they park on the balance

sheet of the fed they don't really keep it on their own balance sheet but they nevertheless control it there simultaneously you've got this issue of market making. he claims to be involved with an all manner of markets including global commodity markets we'll get to that in a second simultaneously you've got ben bernanke who goes out and testifies in congress that he doesn't see any inflation out there and of course there's more of the data points you point to to prove that there's no inflation is the relatively subdued performance of gold and silver and other commodities and yet when you take a step back what you see what you find out is that blights who's the commodity head in a lot of j.p. morgan is pining commodities aggressively around the world simultaneously to give them that opportunity they like to keep the prices still relatively cheap so that people are ticked off you know exactly ok so is it led geitner mobsters diamond

they're all in bed together meanwhile day j.p. morgan tells about the commodities that they're buying this have a university doubt that educate the next generation of of j.p. morgan cult like the zombie neil liberal idiots could sell not a commodity position because this is basically what you have shown in the book is that black ministers should lift the credit default swaps operation in two thousand and seven the credit default swaps right she left she left the department and she took over. the commodities department of j.p. morgan which through which was extremely tiny at the time morgan didn't have any kind of history i mean strong history cohen says and stuart a true to say that. in crisis moments you know people will always need to buy or there will need from feeds you know they're willing to go to the doctor is an orphan thought she was going to store to buy

a group ritual commodities and this is exactly what's in store to do in two thousand and seven and two thousand and eight and now. for example what i'm saying in the book is that she's buying. wheat you know live cattle oranges. and coffee of course sugar sugar number five number number eleven and so forth and and not only she does not for the bank but she does that also for all the customers of j.p. morgan so this is extremely interesting because she is putting the whole war i mean she made think about that she made three million dollars in her department just blew out the goldman sachs girl i mean j.p. morgan point of view she did a tremendous job snow and you know that's that's for sure but this is what have we have seen to get over like one year ago i think is that we are now in an extremely like a poor french revolution states because in the seventeen eighteen eight. aristo

crowds were the only ones to be able to buy limbs you know and to sell the commodities to communities you know what was seeing was deep in mourning is that it's not only. her department or by all the good criminal common disease in the whole world that's why for example you have seen you know last year the price of coffee you know jumping were between twenty and thirty person nor and you were paying i am paying and everybody was watching you guys are paying your mortgage and not only think she's doing down for everything and this is something new because we're going back in history you know banks are buying our commodities they're taking you know their money even before you know a stake is nothing in the kitchen you don't think about that sense when the normal banks like thirty years ago since when did you go to the bank you know to buy a stake through and through and through you know in through to buy some some oil

reeds cereals and orange juice roofing i mean this is absolutely this is out of hand ok so you know you're not buying from the market anymore you're buying from the bank the bank now controls these commodities they own majority interest in these commodities there's also a thing as price discovery anymore there's no free market anymore there's no supply and demand anymore there's only the monopoly position of j.p. morgan all these commodities the biggest commodity desk in the world out life masters out out out croaking and out tricking and larson mystically outperforming her counterpart it goldman sachs she says they're not making any money and that they don't manipulate markets well for her point of view you know as you would you know let's just remind something she said regarding the credit default swap she say that she's not responsible you know she's like coulter and all who are or she like ford is not responsible if you get in a car accident you know that i mean on that point she is our ally. everyone's

a shooting nobody knows he's got the bullets he said oh i did the bullets i'd rather guy die i don't know why that guy that blows brains out maybe i could about it we have seen. a couple of web sites who have shown that we have seen that last year and even true just before the massive g.p. morgan position on how they bought and hard to all of that they're undermining their position suddenly at once every monday morning you know at nine o'clock or seven o'clock i don't remember but it was quite interesting so. blind masters point of view yes he she didn't really and money i'm just even be wondering how you can morgan and her department is making her money that's a very good point interesting because this is not going to make much money if she don't do dot you know how did she mention her tree billion dollars three billion dollars in customer service over customers i mean it's very interesting we don't forget that she's doing that for fed also you know so i want to get like this s.

so we're going back to insisting also through a gold price should be suppressed similar prize of course should be suppressed she showed already you know last year how she killed at the supermarket you know we have spoken about it so this is nothing new but the master says she's always acting like. you know like a young. american you know we're doing a fine job you know we're doing nothing wrong hedging don't have just some which are also hedged on edges and just i mean it's quite interesting i like i like very much her naive. as we say in french but she's not naive at all she's she prefers you know what she's doing and of course don't expect black masters you know come on to be on scene business specifically and say yes we were the whole market i mean course essentially now for the past twenty years if you had gone long gold and silver during market hours in asia and then shorted it. blights were up and running

and conscious and had a cup of coffee when it's being pounded by her manipulation and you would have any allies over forty percent a year you have outperformed buffet so roast everybody because of this market when she's asleep it is actually a normal market that is heading higher when she gets up she pounds it on martha playing with her naked shorts and it brings it back down again as it would have even seen better with. some memos from j.p. morgan's research most think that gold is going to be issuing new high by gold or reframed you know so everybody you know just jumped on the you know entrepreneur and said we should buy gold so they all got gold and exactly like forty four days later you know the whole market would just kill that one's so it was very interesting i remember i said on the radio this is true dangerous because if the g.p. morgan is saying don't you should buy gold you know something is wrong you know definitely

don't want to as you know the fed doesn't stand for gold gold nor super and use like ministers don't forget she never spoke to any kind of media she never went to n.b.c. c.b.s. it's a row she choose exactly the moment when she would she wants to see him and specifically right now she announced you know as we have seen should give quite million dollars true disinterested to so which is interesting why do we do things when banks are telling to university what they should teach and this is weird yeah well she's like we have this is the word is upside down it's a reverse vampire she's additive during the day. but the silver bullet is still capable of killing the vampire and you know if the physical silver is taken off the market we can still kill this vampire dead which is the point of a my trip to an upcoming new york anyway pierre you're gonna make the name of the book is apply for masters and let me say just once a very. there is

a french painter who did. roll a big painting of her and we have the. surprise sure it's true and you know it was there a few show fantastico to look forward to us showing that the mona lisa exactly like the mona screaming in pain echoes a blast got me by the short at least if you became a very very famous i going to do a million move the financial crisis. all right i was going to do it they were the book is black masters p.r. out of that he's also got one of the most listen to podcasts of radio shows in france and that's going to do it for this edition of guys a report with me max keiser and stacy her but i was like i guess b.r.s. of a lot of like about a seventy reported artsy t.v. dad are you it's like timex either saying by.

the official. called talk from the. video. feed now with the palm of your. shoe.