the change in amount of money with someone while at the same time taking change or bills back and forth to confuse the person as to how much money is actually being changed the most common form the short count seen in many movies yes that movie from twenty years ago or so paper moon had a famous scene during the depression when they're at the store they're doing that the change done their switching back and forth and the person ends up with a lot less money than i thought they did and we see this being played out on the global banking scandal scale and as we've been saying all along it's all based on traditional con games just played out on much bigger of a time scale much bigger size of a con a bigger con the biggest on of all member paul newman in the sting was chasing the big con this is really the biggest come yes this is a global scale con now i thought of this short change con when i read this on yanis varoufakis website for europe's sake greece musri negs on its bailout

commitments my op-ed in the moment. it's not actually the greek part but it's this little thing he's talked about in spain and this was a mid may and he said the fiscally stressed spanish government was injecting large amounts of capital into spanish banks simultaneously to help finance the span of state the e.c.b. has provided large loans to spanish banks at one percent interest rate which they then read lent to their quote unquote savior i.e. the spanish state at interest rates often exceeding six percent yes so what we see is the quick change of debt for debt a quick change a con game where the indebtedness actually increases and the austerity measures are only going to have to be more severe because they're increasing the debt a lot of people think that the programs in place in europe are meant to create some

kind of inflation to get some economic growth but they're actually designed to create more deflation more debt more austerity because the goal is acid stripping and the futile ization well it's a con it's to take your assets and wealth and that's the simple it's very simple somebody is making money and the secretion and it's not the people you know it's the folks who are organizing the con game they're of course making out like bandits during this process and they are there every time they introduce a new fund whether it's the exchange rate stabilization fund or the emergency fund a or the emergency fund be these are all meant to just create more legs of the con game to create more fees for the con artists and to bankrupt the poor suckers like the europeans who are getting current by this on merciful confiscation of wealth so short change again remember a lot of money has to keep on changing back and forth you have to say here's here's ten me and you give me nine back and i gave you ten and blah blah blah and they

keep on changing money so you get very confused over how much you actually owen who owes who what and who's. money is that so solidarity euro style finnish loans you see bond purchases f.s.f. tough love in a sort of horror stories from the post-modern euro workouts so this is about greece now i want to show you another more short change con operation yanis varoufakis is writing about the bankrupt greek state was recently forced by the troika the i.m.f. in e.u. to borrow four point two billion euros from the f s f so as immediately to pass it on to the european central bank so as to redeem greek government bonds that the e.c.b. had previously purchased and a failed attempt to shore up their price this new loan boosted greece's debt substantially but netted the e.c.b. a profit of around eight hundred forty million euro's courtesy of the twenty

percent discount which e.c.b. had purchased these bonds. right and that profit is not used to offset the austerity measures it goes into the pockets of the administrators and the technocrats for organizing this condo well that's what i'm saying that's the the ten dollars and paper moon that ryan o'neal and his daughter take it and walk away with they come out they've stolen the money from the gas station they walk away with a ten dollars and the woman is left there confused the same here is the greek people are just confused they don't know what's going on but all they know is that there are eight hundred forty million you're assured are right there and they they know that con artists like the european technocrats know that the victims of the con the europeans were the greeks or the spanish or the irish they the the instinct there too polite to question the con artists because they're some of the talking they wear suits they have nice hats you know they come in there and they talk

a good game and they thought well maybe we're wrong maybe we're the ones that need to really examine what our position and they're very polite and the con artist walk out the door with their money well they're confused as it's going on later when the lady at paper moon counts her money she's going to find out for sure that she was ten dollars short now we find this over and over in europe what we've suddenly found a black hole of debt we don't know where this came from they're suddenly in this case is going to be eight hundred forty million euro short in the greek state and they're going to say we don't know how this came about it's sure how did this happen and people are going to blame the government but nobody knows that it was actually the e.c.b. and the bankers behind it that defrauded you right and we see at least in this before too in the u.k. for example royal bank of scotland will suddenly announce oh we have a trillion pounds black hole of debt we have no idea where it came from oh we need to be nationalized the executives get to keep the money they stole and austerity

measures need to be imposed oh this bank has alpha bank in greece it's a huge black hole of debt we don't know where it came from bang. words that we don't know where it came from or m.f. global j.p. morgan remember j.p. morgan stole eight hundred one point two billion from customers they stole it from the customers they pretended as if in jamie diamond we don't know where it went it's a black hole of debt and he's selling off into the sunset you know drinking themselves silly from all the excesses of his guild gotten gains in congo designed to corps and also still funding obama we don't know where the money came from we opened the front door and this billion dollars came pouring in through the front door and ed mcmahon wasn't even there so remember the important ingredient to this con is confusion you must do it very fast you must confuse that person spain bailout terms to be agreed within a week urgency reflects a growing consensus that spares collapse might start chain reaction that could topple italy and destroy the euro spain has come under pressure from the european

central bank germany and netherlands to move before greek elections on seventeen june amid fears that political chaos in greece and the weakness of spanish banks could threaten the euro's financial stability there is a need to ensure that the euro area is properly ring fenced and protected from possible greek fallout and that means strengthening spain's banks said an official step. pockets picked but too big to fail banks don't waste your time with good luck in lives and then look. young it's amazing that the same con can work over and over and over again that's what p.t. barnum said you know there's a sucker born every minute you can do the same con five minutes later or look at the i.p.o. facebook the same pump and dump. again and again and again where you say this con works over and over well here's from december twenty fourth two thousand and eleven short change con makes stop and worthington so this is a worthington minnesota right before christmas some guy pulled into a station shop defrauded this woman

a fifty dollars by using the short change thing he confused the woman at the at the cash register and she ended up fifty dollars short. the police say now keep this in mind when you're thinking of any news coming out of europe all the chaos panic the best way to avoid a short change con is to slow down says chris hill sime the police officer involved in the situation in minnesota if you have somebody trying to rush a transaction stop and focus on one transaction at a time they try to rush it along and get multiple exchanges going at once and that's where the confusion comes in perfect you've got these various funds in europe they're all using the same con of multiple transactions simultaneously to confuse provokes they end up with all the money and the people end up with the austerity measures but you've got banks on wall street like j.p. morgan or goldman sachs they have created funds where they invest in the con games

in europe and they call it's not officially called the con game arbitrage fund but it might as well be called the short change con game arbitrage fund by goldman sachs or j.p. morgan so their investors their clients can invest in the banks ability to commit fraud in europe and around the world but that's also a lot of the whole banking model is this shortchanged on this whole confusion and funds on top of funds here's the five mortgages they are going to package them up and bundle them up and roll them up into one and it's going to be better it's going to be aaa and this is what the model is for a member of the credit default swap scam in places like that fishing village in norway or montgomery alabama where the bankers on wall street come in and they say we're going to swap your current debt with this clatter was debt swap warrigal dish and network bond and we're going to lower interest rates for about a minute but the second i walk out the door they're going to spike to triple what they were and you always three hundred billion dollars ok and now greece in particular has several layers of debt to all sorts of people the troika the f.s.f. but here's a new one the european redemption pact golden idea to save or do the

euro germ. new ideas coyly named the european redemption pact countries with debts greater than sixty percent of gross domestic product the nord limit under the european union's master treaty would transfer those debts into redemption fund which could be covered by joint bonds the scheme has been called euro bonds like here's the catch max countries using the scheme would have to cover twenty percent of their debt with collateral payable in gold or currency reserves all. default on the payments and you lose your gold. telegin. of course is gold germany wants the gold this is a great way for germany to get all the gall this is so predictable we've been saying this for a year over year now the end game is gold and this is clearly his sleigh germany's

making their play and while they say germany the supervisor of the pact and presumed inheritor of the gold if the loans are not repaid seems to be saying we don't trust the euro as it is it's too weak so give us a stronger gold backed euro they should have had a gold backed euro from the beginning it would have been a true currency union here this is beneficial change kahn so germany and whoever the powers that be behind the e.c.b. have used to short change con and now they know greece is down portugal is down spain is that italy which has two and a half thousand tons of gold is next and this redemption bond is going to be something for them well once a country out there is to jump the gun and offer a gold backed currency ahead of all the shenanigans and take the one that of germany sale and have the best performing currency in the world or a silver backed currency like mexico or athens as we try to do when he goes let us price we're just in athens pushing this so over the back currency as a way to jump the gun on germany and have the best performing currency ahead of

germany hopefully the greeks will wake up to this reality exactly be prepared for the short change con absolutely thanks so much being on the cards a report thank you max don't go away much more coming away stay right there.

welcome back to the kaiser report imax cars are time now to go to seattle top of the qantas yanis varoufakis yanis welcome back to the cons a report it's very good to be back max all right yana us. here we are again now spain is in line for a greek size to bail out some kind of balance that we've seen in greece already you like in the european aid to greece spain and the others as being ed to kenzie and to workouts explain what was a warehouse that warehouse was an institution under victorian conditions the purpose of which was to. the poor or from seeking the assistance of the rest of society and similarly the f.s.f. the european financial stability fund facility the purpose of which is supposedly to come to the assistance of member states of the eurozone that affect if i can possibly finance themselves like spain now. they put conditions that

are imposed by they said by the c b i think big utopians in general on member states that need the assistance of the f.s.a. if the keynesian white house conditions in other words there isn't why spain has been so to lackland over the last few weeks to seek the assistance of the it was a life become the brutish and short within the f.s.f. as a demo you see the whole thing as about just that that isn't for creating wealth house conditions but here i say for countries like squeak countries like greece and ireland was to get third countries like spain from seeking the assistance of the city but the whole business of bailouts has been so toxic commuter. but now that you know spain was supposed to be determined by the kids and conditions of the house and work house it yourself is now in it in it anyway so what next for you except when completed out of disintegration. well you know spain was making

a comment to the effect that they want the money they want the the e.u. money but they don't want strings attached so to me it's less of a work out some more like a whore house you know the first day in the whore house the horse as oh oh i'll sleep with the customer but i won't do x. and i won't do why and i won't do this or that and then a week later they're doing everything that that the johns want them to do because that's their job as a whore now whether it's greece whether it's spain whether it's ireland they've been put into possession into the position of being debt coors to the troika the e.c.b. the i.m.f. and these other whore house managers they'll make a few bucks i suppose but they lose their sovereignty they lose their integrity they lose their moral compass and they are in a bad bad way what's wrong with that analogy whorehouses potentially profitable.

they have to seth and all of these institutions that have created for saving you are the eurozone the last year and a half. impossible to sustain so our hostages your crew and the got analogy is effectively breaking down it's going bankrupt but look max think what was happening before spain appealed to the f.s.f. we had this minutes of the falling kind of relationship between banks this french government in europe this bank and spanish banks where being bailed out we've been banged up you know they've been receiving spanish money now for a very long time now despite your state of course was bankrupt so what was the solution of the great the good of europe mr daggett in particular came up with their ghetto so the banks that were being bailed out by this by the state were borrowing from the e.c.b. up one percent to lend to the spanish government that was bailing them out at six

percent now this ponzi austerity and it is a ponzi of study because all the conditions for having this and that but having to be able to go where that's the spanish government was wheezy screwing afaik that would leave us from she going to mean to the ground so as they do these being closed for a year a year a year and a half and that's why it spain is bankrupt and has to be bailed out like ireland portugal and greece the only problem is that the bailout fund is not enough to bail out spain and the whole thing is coming down in flames yes i think you may have come up with a fantastic term there the ponzi austerity because in a traditional ponzi scheme new money is coming in to pay off the original members of the pyramid scheme but in this european reverse ponzi scheme or a ponzi austerity scheme it's not new money that's coming in but new debt at ever

higher. interest rates so it's a downward spiral of debt a ponzi debt scheme in reverse that's guaranteeing without a question on the dow what you say is the workouts i call the horrible house but it's inevitable through apologies game it's a negative parents game of ever imploding debt yes absolutely if your kids really simple us that it is supposed to be belt tightening that these are using the amount of money that you are utilizing noted to keep your system going whether your system is a household. or state not a state could never work in in the years and given the way that the factor actually works so we didn't have a state we had what i call constant state of state because we on the one hand yes we've seeing. utilizing be a theology of belt tightening in the state of the backspace into. a kind of state that these are completely unsustainable effectively us killing all economic life

within a year you're creating and major session by screwing people right down to the ground while at the same time you're creating huge quantities of money that is being batted about between states and banks but the non-sustainable way that's where it's going to sponsor it's their right so i want to i want to emphasize this so in the case of greece and now in the case of spain what what the governments are asking the people to do is to accept two things austerity and more debt the people in these countries believe that they're accepting austerity and the belief that they will have their debt reduced with this is completely false as you point out on your blog and in your writings they are being asked to accept austerity plus more debt now in the case of spain bailout will appeal like greece i think we said it will be a sudden move on this question on to this four point two billion euro loan. greece

has recently forced to take from the f.s.f. this is a perfect example of your ev your schema of a ponzi austerity who exactly forced greece to take the loan was it in the interim government that accept the loan who profited from the loan so go into greater detail in the pond just barely reversed ponzi scheme as it relates to greece and the fs avlon you will recall about the last number we had this supposed economic about being installed that's prime minister and i'm elected but i mean is that a very famous they're probably one of the worst central bankers in the world given up together with missing finnish a increased interest rates a month before human brothers went up and i went down in flames got me see this gentleman is above in this will happen to be a colleague of mine of university of bath and. effectively presided over the negotiations that led greece to signing a second memorandum of understanding second bailout with reich i spoke of that the . second memorandum that mr kopper the most because i got what greece.

was going to commit it was a cd of three things loan installments that it received from the leica. payments that it would make to the troika from those loans and thirdly austerity measures that these screw the population into the ground. the government has been including government but economic outlook suppose the government was. a lie and on the. parliamentary support of the major parties quite apart as in these sort of civil servants sort through this completely so the greek government because it's part of the now let me give you a good mention of particular pain that if you meant some too. do and have weeks ago according to the shed jewel of the lonesome abatements greece was was it was daintily c. five point two billion years from the epicenter of which five point two billion is

it would have it will be able to keep one billion for the use by that leaks they for buying from a city goes for them for hospitals and train for schools and pensions and stuff one out of five point two and four point two would go back to the european central bank you know explain well why that was part of the now they're trying to interestingly broke that agreement so that one billion that was going to go to the greeks they'd never reach the greek state so the five point two only four point went to greece but not to greece because greece had to pay every sinking hero of the four point two billion to the european central bank now why why do these he beat the z.b. in its wisdom if you recall a year a year and a half ago entered the secondary bond market then bought stressed bonds of these islands on support of the problem up that failed of course. nevertheless it ended up with billions of worth of greek government bonds in its books now in march those

bonds for all other bond holders where haircut savagely of the c.b.s. so this would be wanted to take its money back to have its bonds get government bonds that it didn't and heavenly at face value even though the they said he never bought them at face value that bought them a twentieth or thirty percent. discount which means that the greek government and that's how i finalize the whole thing. to have weeks both focal you could billion from want of the european union from the epicenter in order to give it wholesale to the e.c.b. so that these could be could profit from the bankruptcy of the greek state where the greek population was being screwed to the ground that sponsors that it ok so you have the population being forced to accept bust already plus more debt at the same time plus the specter of the people who are perpetrating this ponzi scheme enriching themselves with billions of dollars by manufacturing and selling and

constructing this ponzi austerity scheme and that there's a lesson coming up in greece in a few days yanis the new government what's the first thing they should do day one whoever gets in office what should they do one thing i'm not going to say it's not going to be good he seems to accept the next loan installment for it from the troika look insight into the eyes of the german taxpayer and say you are back stopping these loans to me to us. those loans are not helping us restore our economic activity our society keep our hospitals running those loans we have to take unsustainably and give them back to the c.p.u. or somebody at some other credit card now we're not going to be able to keep doing this because we had these you know sort of collapsing and imploding so you'll good

money is going to be thrown off the by the money and in all conscience and. on the basis of just simple so that if the one you dip into another we're going to tax payers the government are looking at you the german taxpayer saying we are not going to the accept this money and if this means we're going to come we're going to go bankrupt well so be it because we have bankrupt we have to find another way of making this unit zone of ours work or let it just go to hell all right yanis varoufakis is we're out of time thanks so much for being on the kaiser report thank you max and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my guests yanis varoufakis if you want to send me an e-mail please do so at kaiser report in r t t v dot ru until next time ask either side by a. woman who. julian

assange has requested to reopen his extradition case is rejected by britain's supreme court a decision bringing the world's most famous whistleblower one step closer to being sent to sweden. egypt highest court orders the dissolution of the country's islamist dominated parliament after a ruling after ruling i should say a third of the m.p.'s were elected illegally. bus a suicide car bomb explosion in just ten in damascus with syrian officials say terror tactics are being stepped up to pave the way for foreign military intervention. by from our studios in central moscow you're watching r t with me and he said now

it's good to have you with us our top story and britain supreme court has rejected a request to reopen the extradition case of wiki leaks editor julian assange it brings him one step closer to being sent to sweden where he's wanted for questioning on sex crime allegations now a song's denies all the accusations against him saying they're politically motivated there are fears his extradition could eventually see him handed over to the u.s. as our sara firth now reports. its legal team haven't confirmed yet will then next will be but of course that is the big question now just what comes next the case of prison calls for jetted that appeal to reopen the case and now really there are only three options that we could see happening here one is that the legal team can make an application to the european court of human rights to they can make an application to the high court preventing that extradition.