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 peeper 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 they 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 for a timescale 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 honest bailout

commitment 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 asset stripping and futile is ation 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 it's a quick patient and it's not the people know it's the folks who are organizing the con game there 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 gay remember a lot of money has to keep on changing back and forth you have to say here's here's ten me 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 owe him 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 and the e.c.b. i.m.f. you to borrow four point two billion euros from the f 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 and walk away with they come out they've stolen the money from the gas station they walk away with the ten dollars and the woman is left there confused they say 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 and they they know the 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 smooth 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 reexamine 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 bank. where is that that we don't know where it came from or m.f. global of j.p. morgan remember j.p. morgan stole eight hundred one point two billion from customers they stole it from the customers and they pretended to jamie diamond we don't know where it went it's a black hole of debt and he's sailing 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 urging see reflects a growing consensus that spanish claps 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 broda get your 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 a shop defrauded this woman a fifty dollars by using the short changed 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 shine 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 common of multiple transactions simultaneously to confused 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 the short changed 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 clattering lies debt swap orrible dish 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 ignored 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 lite 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. of course as gold germany wants the gold this is a great way for germany to get all the good all 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 well 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 that they should have had a go back euro from the beginning it would have been a true currency union here this is been a short change con 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 out 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 in hugo salinas price when we were just in athens pushing this so over back her and see it 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 stays here with thanks so much being on the cards a report thank you max don't go away much more coming away stay right there. anonymous. welcome back to the cause

a report imax concert time now to go to seattle top of the calmest yanis varoufakis yanis welcome back to the cons a report 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 dickensian a workout explain look 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 of a significant purpose of which is supposedly to come to the assistance of member states of the eurozone that effectively find it impossible to finance themselves like spain now. if they put conditions that are imposed by

they said by they see by the europeans in general on member states that need the assistance of the f.s.a. if the keynesian white house conditions in other words that isn't why spain has been so reluctant our last few weeks to seek the assistance of the episode it was that life would become the brutish and short within the f.s.f. as i said they don't really see the whole thing as about those but their reason for creating warehouse conditions for the f.s.f. for countries like b.p. squeak countries like greece and ireland was to get third countries like spain from seeking the assistance of the us but the whole business of bait. has been so toxic commuter that now that spain was supposed to be deterred by the ins and conditions of the courthouse and work house of it and so is there anything in it anyway so what next for you except what completed out of disintegration in 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 the workhouse and 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'd 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 who are 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 f.s.f. and all of these institutions that have created for saving you of the euro zone the last year and a half. impossible to sustain so are hostages your cruel and but look at analogy is effectively breaking down it's going bankrupt but look max think of what was happening before spain appealing to the f.s.f. we had this minutes of the falling kind of relationship between banks this french government in europe this bankrupt spanish banks where being bailed out and have 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 their solution of the great the good of europe used to drive you 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 big and it is a ponzi a steady because all the conditions for having this impact we're having via the arrow where that the spanish government was wheezy was screwing in effect that would leave the spanish economy into the ground so as they do that these being imposed for a year a year a year that happen that's why spain is bankrupt and has to be bailed out like ireland but you'll increase their 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 doubt what you say is the workouts i call the horrible house but it's inevitable through apologies game it's a negative berryman's game of ever imploding debt yes absolutely look it's very simple of state it is supposed to be belt tightening that these are using the amount of money if you're utilizing not to keep your system going whether your system is a household or state now 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 only want to hand your squeezing. utilizing be a theology of belt tightening austerity backspace into. it kind of state but these are completely unsustainable effectively you're 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 in an unsustainable way that's why it can be sponsors there 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've 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 past up this is a perfect example of your of 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 law so go into greater detail in the pond just barely reversed ponzi scheme as it relates to greece and the bass amp alone you will recall about that last number we had this supposed economic about being installed as prime minister and i'm elected but i mean is that if if they pop up in one of the worst central bankers of the world given up together with missing finnish a increased interest rates a month before you want brothers went up and i went down in flames now this this gentleman this above in his will happens to be a colleague of mine of university of auckland. effectively presided over the negotiations that led greece to signing a second memorandum of understanding second bailout but right i spoke of that the. second memorandum that missed it by 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 we make to the troika from those loans and thirdly a state of the measures that these screwed up relation to the ground. the government has been the interim government but the economic tactics opposed the government was. a lie and on the. parliamentary support of the major parties cannot by placing these social civil servants sort through this completely so the greek government begins its part of the now let me give you mention of particular pain of the people the people if you meant some too. two and a half weeks ago according to the show journal of lonesome and raymond's greece was was it was going to receive five point two billion euros 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 the greeks they for buying pharmaceuticals for them for hospitals and grain 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 gain interesting lee broke that agreement so that one billion it was going to go to the greeks they've never reached the great state so it's a five point two only four point two went to greece but not the police because greece had to pay every single euro of the four point two billion to the european central bank now why why did the c b 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 would have got savagely what they see bees so this would be wanted to take its money back to have its bonds get government bonds that it didn't and it had them to the him at face value even though the they said he never bought them at face value the bottom of twentieth or thirty percent. discount which means that the greek government and that's how i finalize the whole thing. do you have weeks boat photo to billion from want of the european union for me except in order to give it wholesale to the e.c.b. so that they simply could profit from the bankruptcy of the greek state where the greek population is being screwed to the ground that sponsors thirty ok so you have the population being forced to accept austerity 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 there's a lecture 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's that they do one thing amounts reeses not going to go to see you have to accept the next loan installment for it from the troika look inside 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 e.c.b. or to somebody at some other creditor now we're not going to be able 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 solely that it is of one unit going to another we've got it back spears the government are looking at you the german taxpayer saying we had no game today except 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 rather 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 thought my guest yanis varoufakis if you want to send me an e-mail please do so at kaiser reporting r t t v dot ru until next time ask either side by a. minimum. julian

assange requests to reopen his extradition case is rejected by the supreme court decision bringing the world's most famous whistleblower one step closer to being sent to sweden. egypt's supreme court orders that the dissolution of the country's it is a list of dominated parliament after ruling a third of the m.p.'s were elected illegally. plus a suicide car bomb explosion injures fourteen in damascus with syrian officials saying terror tactics are being stepped up to pave the way for a foreign military intervention. and broadcasting live direct from our studios in central moscow this is r.t. certainly glad to have you with us britain's 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 is wanted for questioning on sex crime allegations and denies all accusations against him saying they are politically motivated there are fears his extradition it could eventually see him handed over to the u.s. parties the latest from london. legal team haven't confirmed yet what their next step will be but of course that is the big question now just what comes next the case of prison calls for ject it 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 order but that's still pretty unlikely that that would be successful and the third option is that you're actually going to see julian assange extradition now going.