really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune in to conjure report on our. weekly week strikes again this time by starting to publish over two million e-mails from syrian politicians government departments and companies dating back years. but in syria violence continues with dozens more across the country killed in the last three days. angry slams the british prime minister over threats suggesting he could block greek immigrants and other people from the euro zone the matter in the u.k. . next it's the kaiser report. max kaiser this is a kaiser report you know banker bashing is becoming quite fashionable but we were

first stacy well max take a look at this our work that really captures the essence of the global financial system a clockwork libel war yes that's bob diamond there of course in the position of alex from clockwork orange and you know is bankers doing the ultraviolent on our global financial system whether it's rigging interest rates rigging municipal bond markets rigging rigging rigging that's all they know how to do it is it is violence it's a form of violence it's a form of ultra violence and this is the biggest concept that people have trouble getting their minds around this because they think these are victimless crimes they don't see them as being particularly egregious and yet they are really the twenty first century version of the pogroms we saw in the last century the the incredible devastation that was done using traditional means of warfare tanks and guns and soldiers this is violence committed by accounting fraud securities fraud currency

wars and the result are the same you've got a concentrated group of folks trying to grab most of the world's assets and the rest of the people are suffering austerity and dying and starving and it's the same thing played out with different weapons these are financial weapons yes you have the likes of bob diamond and jamie diamond and i don't confuse their names there for a second and lloyd blankfein and you know every single banker at the head banker there they're walking around like these droogs kicking the head in of our global financial system of our banking system of our derivative system every single thing the integrity of the trust is gone because they're walking around kicking the head in right and having worked on a lawsuit. myself i could this is how i have the insight into the mentality of these brokers like diamond or di men or blankfein is that they're there purposefully committing acts of financial violence they speak of ripping clients

faces off you know trades are executed the clients get their heads ripped ripped open you know this is the way they think this is why they treat their customers like these sasnett them and they steal their money well but in response to them doing the ultra violent we see yet another fake inquiry into the hard core ultra violent crimes of the banking system and yeah i think we need to turn to the kaiser technique we should make bob diamond forces eyes open to watch kaiser report and all the ultra violent crimes he has done yes alex in a clockwork orange is the good model for bob diamond sit him down in a chair prop open his eyes and wires and let some i drop slow in there occasionally and make him watch all three hundred six episodes of kaiser report back to back to see if that can really educate him now one of the bit for the elements the important ingredients to this conspiracy that has been ongoing over the last few

years is the serious fraud office and max keiser you've been at the forefront of really going after them here's a tweet from the telegraph breaking serious fraud office considering whether to bring criminal charges over libel or rigging hash tag rigging so in a subsequent thing they said they're going to decide in the next month whether or not to pursue criminal charges but disservice front office has been suggesting they're involved in an investigating and prosecuting financial crimes for many years now they don't seem to get around to it and again because they never get around to it just like in a clockwork orange the authorities there was no authority there to come to the rescue of. population and it was the man whose wife was raped by this group of droogs that he's the one who did the technique on alex and he forced him to watch violent crimes and somebody is going to have to force these

bankers to see the violent financial crimes the ultraviolent they've been committing what i've seen on twitter references to is this the banking industry is milly dowler moment and of course just refers to the murdoch phone hacking scandal where people didn't think that listening to celebrity phone calls was a particularly a big issue but then when the milly dowler incident occurred where this poor child was abused unmercifully by rupert murdoch and his minions of illegal spying then the whole tide of investigation turned now will this be the moment when suddenly the public wakes up to something we've been saying here for years that they're being unconscionably disabused of any thought of a fair system where they can actually aggregate wealth without having it being stolen by the likes of jamie diamond or bob diamond or lloyd blankfein or the rest and now max. let's turn back a year and

a half to the serious fraud office headline reads budget cuts killed off live or inquiry so britain's premier anti corruption agency refused to carry out a criminal investigation into alleged manipulation of the benchmark libeler bank lending rate because it did not have enough money to fund it s f o chief complain that their ability to investigate cases has been compromised by cuts to their budget which fell from fifty one million pounds in two thousand and eight two thousand and nine to thirty three million pounds this year and is set to fall to twenty nine million pounds by two thousand and fourteen fifteen but well this is typical trick used by government to make sure that their crony buddies in the city of london or on wall street. don't go to jail is that they defund the regulatory agencies responsible to investigate same thing with the f.c.c. in the united states you know the f.s.a. and the serious fraud office they don't have the resources to prosecute crimes but isn't there some duty to tell the population hey we don't have any money but i want

to tell you there's a major crime going on that somebody should investigate or perhaps you the population might want to give us more money or convince your politicians to give us more money to investigate this ongoing crime but remember this is a thirty five percent collapse in funding from two thousand and eight when there was quite a lot of evidence of a financial crime wave sweeping the world i told david mitchell on ten o'clock live you know approximately a year ago and i told him explicitly that these criminal acts were taking place and of course david mitchell and the rest of the panel on the show who's been indoctrinated in this notion that bankers are gods and we can't possibly question what they're doing you see the response is pathetic well let's turn to a clip of that max because here david mitchell is asked you whether reforms will help. answer a spankers in the system corrupting the system you've got to get rid of this case and what this banking these banking reforms how is that address that

and how is it failed to address that it doesn't matter what the reform is because you've got no regulatory to see who's willing to put anyone in jail during their last major scandal decibel crisis the united states had eighteen hundred bankers went to jail this time they got no nixonian money ok so there's nothing said enough those got to be serious prosecution there to ensure our strides. money you know just talking a lot then the point i make is that there are no money in the regulatory agencies to effectuate reform by design because there is a collusion between the regulations agencies the city of london and the government and this is quite clear well more important than that max is they have. to be thrown in jail if the guy is doing the ultraviolent on the global financial system he needs to go to jail or have the kaiser technique well there has to be a deterrent in place. for criminal behavior and david cameron weighs

very quick to say that when the the looters were out there stealing four pound bottles of soda that they should be sent to jail even though they were ten or twelve years old but when confronted with the unequivocal evidence that bob diamond and his crew of barclays have been stealing millions and colluding with the bank of england to rig interest rates on the library front he doesn't sure whether this requires a response or not and that's why his society over there in britain is collapsing in front of his eyes just why the economy can grow is because there is this asymmetrical approach to law and justice where if you're rich and you're a crony of cameron there's one set of laws if you're somebody else then oh that's a totally separate set of laws you know i was speaking of this clockwork orange i want to talk about another group who you might call a move tony blair says he is interested in another term as prime minister. i thought you would like this max tony blair said he would like another stint as

prime minister although you accept that it's not very likely to happen and it interview with the evening standard which he was guess editing for the day mr blair made clear that he would like another job in public service well he's leveraged is number is time in number ten to go do oil patch deals he claimed it was no blood for oil in the average i.q. war that's been proven that there was blood for oil now you onesies do you still thirsty that's the problem we have a bloodthirsty war a holik of a violent person like tony blair who's by nature extremely violent they they're never satisfied but importantly max let's turn back to that channel four clip because here you are saying that the banks and the government are the the same. it later is controlled by the government there is no doubt that the you know it is all inside the banks from the word listen and we're now moving into conspiracy theory nonsense ok tony blair now makes three million pounds a year as a j.p. morgan executive he also works for a swiss bank as well but listen we have heads of goldman sachs in all sorts of

governments across europe so the guy that guy on the channel four thing who said it was a conspiracy theory that there's no collusion between banks toure's and government won't be a lot more scandal shows the bank of england is wrecking markets so i don't know what more you need to do to be aghast at how corrupt as global system has become we know what happens at the federal reserve bank in washington it's happening with mervyn king and bank of england in the u.k. there colluding with bob diamond to rig markets on a three hundred trillion plus a market so this is beyond just mere signaling of the books this is a wholesale pearl harbor attack on the financial system the ultra violent now i bring up tony blair because he's also in the news for blair defends p.s. i as n.h.s. trust face bankruptcy now i notice that anywhere a banker is running things where every system they touch turns to bankruptcy tony

blair has defended the spread of private finance initiatives under labor a seven n.h.s. trust face administration as they struggle to repay large debts from p.f. ideals so the scheme saw private firms building hospitals leaving the n.h.s. with basically a mortgage and an annual fee to pay over thirty years the total value of the n.h.s. buildings built by labor under the scheme is eleven point four billion but the bill basically max comes down to seventy billion tonnes i could be extraction they load the system up with debt they pay themselves a huge dividend and then expose the entire system to any fluctuation in interest rates which of course are inevitable and then it goes bankrupt is the philip green model over there r t v if you call it pam self a billion pound dividend by loaning the. company up with debt paid to his wife in monaco and then of course he was totally exposed to the vagaries of interest rates but when confronted with this information on sky news tony blair said that the contribution p.f. i had made to rebuilding the country's infrastructure was immense he said p.f. i have been copied around the world. of course it because it's a disease it's

a financial disease that's been affected the financial department and treasury department's of governments all over the world to see an easy way to pay themselves huge bucks and pass the burden of the risk onto the citizens through socializing the risk privatizing the gains you see people look at danny blue and i said look if he can do it if he can steal all this money from everybody why can't we do it of course is copied around the world well i might add that the miami cannibal the zombie who ate the face of a homeless man he was copied around the world it doesn't make a good thing so he's here but thanks so much for being on the kaiser report thank you max don't go away much more coming your way. you.

here. you're going to. take your stuff. to. make your statement. you were. welcome back to the kaiser report i'm max kaiser time now to go to new york city talk with reggie middleton a boom bust blog. welcome back to the cause

a report thank you very much as you are always good to be back all right reggie middleton last talk about french banks you see them as the next most likely to fail . call that consuming it konami action banking systems around the world talk to me about the french banks to be honest the french banks have an awful lot of competition as to who is going to fall you know it's a race with a lot of competitors but it's not as if the french banks are not the front runners france is one of the. the two strongest economies in western europe. or in the e.u. shall i say accompanied by germany but france has a lot of secrets for instance their banking system is a much larger than the sovereign state that the banks are domiciled in which is france itself if you take the yes it's delivered assets of the french banks it's larger than the g.d.p. of france by multiple and not simply one zero one times larger percentage getting

larger. combine that with the fact that the french banks and france itself is heavily leveraged and italy and italy has its own funding issues with. its funny rates at historic highs you can see where there is significant stress potential calamity in the french banking system as it goes so those friends the french banks levered several times now if the french banks fail you know that france as a socialist nation will do the bailout thing much as much like the u.s. and the u.k. and greece and practically everybody else portugal the issue is how do you build something that's significantly larger than yourself it's as if. with one hundred thousand a bank decides to be allowed j.p. morgan itself you know can i do it and i can set to do it i can put headlines out because a significant spike in equity market as mobile traders moment to trade is chase

prices versus value but at the end of the day you have a disconnect and that's what i see for the french rescue system in general ok so you bring up this interesting point how do you balance something with the debts are bigger than the entire country's g.d.p. now doesn't this expand a little bit to this developing scandal out of london involving libel or and what i what i mean by this is that these banks have been allowed to grow their balance sheets to considerably bigger than the. g.d.p. of the countries that host these banks can comment lee we see a collusion going on we now know it's between the emails between barclays and bank of england there's collusion going on to keep the library rates and other interest rates artificially cheap as a way to allow the growth of this extraordinary debt to continue is there is that it's same thing is true at the federal reserve bank and banks in the united

states correct yes you know it's a different mechanism and cheapening the rates but it's exactly the same it's the same go the rates in the us close to zero and negative is preposterous considering you know the fundamentals in the macro situation and the same thing with europe the libel. scandal i guess you'd call it collusion is quite interesting because if you take a look at the at the u.k. bank cd rates c.d.'s rates you see there's no in the world they can actually borrowed library at the lab or that's called it so that should draw attention is to why would be that cheap and if you take a look at the communications and even the. anonymous insiders comments you know it's widespread they would lower the library officially. and everybody's in a room management was on board the economist board risk managers want to board the bankers the traders the structure product guys everybody so it's not as if this was

hidden and all the banks did it and they would do a daily beat or to fish a lot of library daily now this also begs the question why isn't a watchdog was an oversight you know what the central bank would do is they'd ask for a library at the bank would say write it down a piece of paper here it is you know so bankers are now able to be trusted to that extent you know you know question of course and then. you order fish depressed suppress elaborates but the. elaborates are that much higher and then you force your clients or push your clients into a higher rate offer the base rate knowing that you ought to medically support your new synthetically suppress the rate knowing that the lab but the real operate is higher so i would think at the end of the day and the corporate clients of the bank that. had to pay a higher rate you know should have some type of compensatory to pensacola damages

let me stick on this point a little bit so on one hand they're saying of all the banks around the world that are on volved in dodgy dealings the french banks look particularly vulnerable and this is really interesting because and in context of course you've done a lot of work and looking at j.p. morgan's balance sheet united states and showed how vulnerable that balance sheet is and then within a few months jamie diamond had to agree with reggie middleton and say yes our balance sheet is completely fraudulent we've got billions of dollars in losses and all they had to do was look at boom bust blocking would have seen that months ago but all those banks in the world the french banks with the most vulnerable to you but you just said something a second ago i wanted you to explore a little bit more you're saying that the c.d.'s rates the credit default swap rates were were such that they could not even take advantage of these artificially low lying bore rates and my the point or the question i want to ask is isn't it true that when you're looking for fraud in these markets it's staring you right in the

face correct if you're looking for yes you know the key is you have to look for it in the banking system when. i scratch your bet you scratch my situation you know if one looks for he causes trouble for many of entities long food chain so if you go for you be ostracized you and you'll probably end up like many of the traders who got caught so i mean the traders who are blamed for these multibillion dollar banking losses it's interesting when you have two three four five billion dollar banking. loss and they accuse a junior trader you know of causing such a significant loss let's take the best case scenario and say that's true what kind of mismatch resistance do you have in a world class bank where you have a junior trader that can take a two or three being the last you know it's outrageous the key is that if you take a look at all the market mechanisms that are unfettered by. the ability of the bank to affect pricing such as the c.d.s.

market such as the bond markets you see that the market thinks that the banks should be paying a significantly higher rate than the banks say they are paying so that in itself is an indication of potential fraud now you can investigate to see if it's forge of the not but it's very difficult to manipulate a bond market currency market because it is so lot so deep so wide and so liquid in order to manipulate it you have to have significant capital you know more capital than most banks economic help or the most banks are privy to so if i was looking for the truth looking for forger act with a purely market based pricing mechanism at work my way for reggie what i find shocking is that you know if you look at let's say professional tennis for example they have computers and machinery and cameras that will show when the ball falls outside of the a lot of court committing a foul and a foul is generated the call is computer generated and you said reason i ask this

is you say well the fraud is there if you if you want to look at it. it's the fraud is there any regulator at all simply set their computer to alert them any time libel or rate was significantly disconnect with c.d.s. trades it would signal fraud it would take five minutes to do this it would take virtually no cost to implement so it's not about just not looking for fraud it's about racketeering is it is about regulator. involved in a racket where they're engaged with the banks and the regulators and the government and the fund managers to rig these markets as part of a global racketeering correct you know in a nutshell one of the earlier one of my earliest i think their first appearance in the show going over the term regulatory capture and that's basically an instance where the regulators were actually captured by those who they regulate you cannot effectively regulate if those who are put supposed to be regulating have any type

of influence over you whether it's economic political. social and the other influence it is impossible to regulate now i'm not going to say that the regulators have been purchased bought off the political influence etc but you know if it walks like a duck quacks like a duck you know it sounds like the smells like looks like about you know is an ostrich you know it's really just that simple as you clearly stated you know you can take a look at disconnect between you know the market based mechanisms and was actually quoted and when you see a spread you know if you look into it the fact that nobody's buy that didn't do this i think the libre ganda was brought to light by a reporter or a journalist which is ridiculous you know report and journalists are doing the jobs regulate is that all blogs are the next guy's show so you know what you need is a completely open system and a restart and when you do that you have fresh blood and you have different incentives and hopefully the incentives as they go on not distort it to the point

where people are rewarded for a lack of economic growth which is what we have now versus a capitalistic system where you're rewarded for big secret creating economic profit and capital all right so finally let's just talk on these french banks again there's two primary banks here in france you've got b.n.p. you've got society in general is its fate safe to say that both of these banks are as insolvent as j.p. morgan if you mark everything the market you know insolvencies might my call. b.m.p. considers heavy leverage and. goes bust that's roughly half. and that's just that's just it if you take a look at the losses a b. and p. had to write down in terms of greece and greece is a very very small sliver right of being. pretty. significant portion so if it goes bust right and it's about being basically has

lost half of its net it will be right there and that's just chances of it we need to bail out many of the sovereign nations are going to move in tandem so you know that fifty percent is actually going to be significantly lower ok how does being build out by france because of b.m.p. gold chances or the other french banks are going to move in tandem so france as a socialist nation will of course move to bail out the banking system for ring fencing you know the central banking services and then let everything else you know be taken care of by the markets but that's the way it should be done i can almost guarantee that's the way it will not be done so all the b.m.p. bad assets and debts will now be loaded up on the french balance sheet to be taken on by the french taxpayers which will make friends insolvent just isn't solvent as the french banking system which was hit by the potential actually insolvency of italy so you can see the contagion change and you can see how you have a snow fall that becomes the flu that becomes a potential death of certain banks and the sovereign states that they were in of

course a sovereign state my opinion cannot go back but it can have to be forced to be set which is the case with ice and that should be the goal because if you take a look at iceland one of the fastest growing countries in iceland in the has been ice and the reason is because they forced him he said to the system ok regimental dan rather time thanks so much for being on the kaiser report you're very welcome max and look forward to coming back right now is going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i want to thank my guest reggie melton a blog going to send an email please use of a kaiser reported r t t v are you the next time nice guys are saying.

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