this is also a coming to life i'm also going to have. an american trait no song you whether they are black presidents or was a q. and a is fascinating to me is being forced down for nanda new guitars on cheese punish language the people one stand for that song that all. rubber bullets find thousands of protesters marching across not treating her like some support line is angry as mounting on the government is attempting to say sixty five minutes here is the time for any new body. on the morning to the syrian rebels that they've raised support since they don't stick to the peaceful among us the one

voice just the security council to get them to call the annan also says president assad has discussed with him the forming of a transitional government. as the headlines next the most dangerous financial journalist is the kaiser report. cause or this is the kaiser report you know it's like and what about those huge plaster collars that dogs wear around their head so they don't bite themselves should bob diamond and jamie diamond and lloyd blankfein be fitted with these things they don't they don't bite themselves or other dogs or hurt themselves so max actually a better idea might be to remove this and that extent reliance because there are synthetic stimulants causing naked crime waves across the world max bath salt

suspected a nationwide naked crime wave addiction specialist suspect that so-called bath salts may be playing a part in an outbreak of crimes committed by naked people across the united states and even in canada method droned the active ingredient in bath salts is a synthetic stimulant that users say make them feel energized and confident at toxic levels however and think of this when you think of the global financial system with so much synthetic stimulate some form of quantitative easing and low interest rates the drug reportedly causes intense confusion and sometimes violent rage spikes and body temperature and who summations so whatever happened to good old fashioned glue sniffing but do some fennec drugs like bath salts it goes hand in hand with synthetic money think of short selling synthetic derivatives people get high on stuff that they cooked up by mixing any kind of

junk and chemicals and bath salts and drain oh they can find it meanwhile wall street is as collateral to fund their apologies games they're trying to get the fed to accept bath salts or junk on the street or belly button lint and this is at the base of this multi hundred quadrillion dollars ponzi scheme. so as you know from one thousand nine hundred ninety two thousand and two gordon brown sold off four hundred tonnes of britain's gold they haven't read max revealed why gordon brown sold britain's gold at a knockdown price but it seemed as if the treasury were only seeking to achieve the lowest price according to the telegraph so they're now looking back on it and they found out that one globally significant us bank in particular is understood to have been heavily short on two tons of gold enough to call into question its solvent see a free demps in occurred at the prevailing price faced with the prospect of a global collapse in the banking system the chancellor took the decision to balance

the banks by dumping britain's gold forcing the price down and allowing the banks to buy back gold at a profit thus meeting their borrowing obligations but this is the beginning of a major period in manipulation by governments which now the latest chapter is the lie bore barclays bank of england and it relation but going back to this gold manipulation there was a major bank in the us short gold they had sold gold that they did not own price of gold started to tick up and to cover that short gordon brown sole half of britain's gold into the open market in such a way as to guarantee the worst possible price to get to the front running by every dealer and hedge fund in the world to guarantee that this bank this unnamed american bank could pocket enough profit to offset the loss that they would have incurred have the market simply been allowed to function ordinarily now this is coming on top of the one nine hundred eighty seven mass government intervention on

wall street by reagan after the crash of eighty seven when the government started buying s. and p. futures in my mind this is the most outrageous case of a government gordon brown setting in motion massive government intervention in the market gold to bail out a bank we also had alan greenspan yelling out. long-term capital management after that fund went bankrupt causing interest rates to drop me people talk about lives are being manipulated down member greenspan crashed interest rates just to long term capital management this is this is going to power now for decades yeah and as you see here though this is all a pattern of literally these bankers are running around naked because they're high on synthetic derivatives on artificial stimulants and because of this we're constantly naked the entire global economy has zero heads as it were were on head against their quadrillion and derivatives floating over our heads and the other

thing about this is apparently according to the telegraph the person who convinced gordon brown to dump britain's gold to help this unnamed bank in america was goldman sachs's gavin davies now gavin davies went from goldman sachs on to run the b.b.c. so is it any wonder that the british population is not told the dangers of all these synthetic stimulants and derivatives floating through the veins of their financial system but a great point is that the major media is part of the racket along with the banks the central banks the rating agencies and the big four a big five accountants also the media actually going back to this story about people on bath salts running around naked a phoenix police sergeant says i what an approach naked people running around the streets of phoenix generally speaking if you run into a naked man out here we are we found there is usually some kind of illicit narcotic on board but i've seen many times in the city of london on

a friday night you walk around you'll see naked bankers on the street but that's just because they're drunk yes but also if you run into a naked banker at this probably some illicit synthetic stimulant whether it's in the treasury and the bank of england helping them manipulate libel or rape. or if it's alan greenspan stepping in to bail them out or if it's gordon brown in this case selling off britain's gold supply in order to maintain their modesty and the myths their naked short well the other crossover concept between drug addiction and money addiction is this concept of tolerance when you're addicted to heroin or bath salts you need more quantities to get off as it were and same thing with these banks on wall street the city of london to get off they need more money they need more synthetic derivatives they need more free cash from these banks because they've developed a tolerance to it and when the ultimately the punchbowl is taken away then they're

going to go through with the drawl and then we're going to see really what the kicking and the fact of the zombie like bankers on the street ripping people's faces off with their bare hands and eating their energy trying to sell their kidneys to cover some naked short sale. well usually though somebody else's kidney out does rather than sell their own but max so here's gordon brown in one thousand nine hundred nine basically eating the wealth of the nation by taking their gold and selling it on to the open market in order to save some unnamed bank but from here we now after that have ai g. m.f. global refco and now. max keiser tweet next time geitner accuses china of currency manipulation they can point to libel or intel tim to s t f. well yeah exactly right this is an amazing pan

global manipulation scheme out of the city of london once again focusing on a lie bore it's a massive manipulation of interest rates that affect all the currencies around the world including the chinese when and you know timothy geithner united states has been pointing his finger to china saying you're a currency manipulator and you need to adjust devalue the currency you. continue to export your way into super power status and now the next time they have this conversation china is going to say to me geithner look you know you're the manipulator stop manipulating a lot more the second you stop millett manipulating a lot more is when you know we'll consider your request on the currency front and of course to me geithner and mervyn king and bob diamond is associated particles can't stop manipulating interest rates because if they did this entire system instead of collapsing in six months from now it would collapse in six minutes well on this theme we have david kotok libre gate will take down many more bankers and the claims will spiral into the trillions and he mentions that we've had lehman

brothers m.f. global j.p. morgan chrome gresham's insider trading and yet no criminal prosecutions but he says watch out for what is coming in made to war for allegations about chinese corruption because of course remember whenever america or the u.k. are committing crimes whether it's financial crimes or war crimes or environmental crimes they go pointing their finger at somebody else and say we're looking at saddam hussein he killed five thousand people here whom we have to kill a million here the same thing they're saying there is why scale corruptions they go pushing these stories that there's so much corruption in china what are we going to do about it. coming up frequently now is the phrase the tobacco moment yes so the this is the idea that the library scandal which is now expecting a quadrillion in securities and ripped off tens of millions and hundreds of millions of people is a god to the point now where the tobacco moment kicks in where the tobacco

companies finally had to admit that cigarettes cause cancer and then industry was changed forever well they finally admit well the banks around the world finally admit that they are in the market rigging business very little of what they do is legitimate and the entire industry has changed forever i think we're inching toward that moment i either. we have that moment and we have addressed the collapse in an orderly fashion or we don't have that moment and we're going to have a global reset which would be extremely chaotic yeah but then also remember when you rip off somebody in china you get home they hang you so there is a deterrent to their barclays scandal bad news for investor confidence so here's another article saying oh this is bad news there's loads of money being pulled out of the financial system because people are terrified to be on it because they know that they're going to get ripped off one way or the other and they interview randy frederick managing director of active trading and derivatives at charles schwab he

says every time people begin to gain a little confidence something else comes up if it's not europe it's troubled i.p.o.'s i facebook or j.p. morgan or barclays something new blows up and people say i knew it was a rigged well you know bob diamond got caught debating a felony you know his response was like he had just been voted off a reality t.v. show so he's also miles that is the deep briefing from the failure you kind of come out of the bank you you were caught committing a felony you're ripped millions of people off how do you feel now and he's they're all smiles and you know well he worked for blackstone will work for private equity with the next job really gets kippers twenty million pound bonus and all that stuff is going to kick in he's happy there's not even any negative stigma much less a penalty it's just an interview like this guy's ready to go to disneyland and celebrate his triumph as having stolen twenty million and more pounds without a single penalty without working a day in his life no bob dylan is like to work he just goes in there he has no accountability so i don't know what's going to i'll just sit there by my just collecting all his money twiddling my thumbs and playing solitaire by

a computer for a few years and my employment contract that i signed makes it impossible for anyone to go after me any substantive way since then with thanks so much for being on the kaiser report thank you don't go away much more coming your way. in the. world. series technology innovation and the developments around russia we've got the future are covered. one needs of spear time to obtain peace and the spirit to help. pressman chip and creativity requires special conditions. to medivac to receive knowledge and then some of.

those who are behind bars get freedom of self-expression. back to the kaiser report imax keyser time out to go to scotland to speak with the fraser in frayser dot org and as a journalist blogger broadcaster who has made documentaries for the b.b.c. about the financial collapse including r.b.s. inside the bank that ran out of money in fraser welcome the kaiser report i'm max all right in front of the rigging of live war rates was first mentioned in the media as early as two thousand and seven so why has it now only become the scandal that it is and how high up the how i have the latter does this crime story go well i think one of the main reasons is that we have you know very weak regulatory

regime here in the u.k. but it's not just the u.k. it's obviously other countries as well there was a kind of complicity between the financial regulator the f.s.a. the bank of england and the banks seemingly but i don't know quite when that that that element of it started it probably didn't start till the height of the crisis in about september of ways but certainly you know it was well known in fact there's a guy called tim born to used to work for barclays capital who went on bloomberg television in may two thousand and eight and he. you know he publicly stated that there was a deep concern about these numbers and whether banks might be making them up so you thought yeah the f.s.a. might have started to investigate at that point but they didn't they pushed back by the financial media in the financial times for example is that we out there committed crimes but they saved the system from collapse is that a legitimate response not in my view i mean i think you know you there's no excuse for committing crimes and even if they are sanctioned by people like paul tucker or

if they were sanctioned by people people like paul tucker it doesn't excuse them in my heart in my view right now i think the word for that in economics is moral hazard and we've seen this play out over decades now whether it's long term capital management being bailed out by the fed whether it's the stock market being bailed out by regular greenspan or eighty seven or more supposedly bailing out corrupt banks in two thousand and eight there doesn't seem to be any line in the sand over which these regulators won't forget about big either the f.s.a. the serious fraud office in the u.k. the u.k. of course is where we have lehman brothers a i j bernie madoff m.f. global why is london such a crap regulator i think the the rot really set in a big bang in eighty six when he says that should government deregulated the financial sector and she did the silo like structures and the partnerships that used to exist within the city and in those days i'm not saying it was totally clean but it was less less easy for conflicts of interest and corruption to occur and the

various key dates that as i said one thousand nine hundred two was a key day when there was the last ever criminal trial of high level bankers from the city of london which was the blue arrow trial three senior executives of a bank that west was given suspended sentences for rigging a rights issue and one that one stop broker who helped them from u.b.s. phillips and drew was also given a suspended sentence for rigging a rights issue now the trouble was this didn't go down particular well with the establishment so they they. engineer court of the york court of appeal case in july ninety two where the sentences were quartered and on the day of the question of the sentences a friend of mine was phoned by a contact of his in the s.f.o. serious fraud office and the contact in the serious fraud office basically said the message has come down from on high there will never again be a prosecution of a high level banker or a high level or a mainstream city institution so it would appear that from that moment on there was

a kind of new agenda had been set whereby people in the city and bankers in particular were given carte blanche to do as they chose this could include you know of course accounting this could include defrauding their clients could include money laundering and it seems that a dangerous precedent was sent set at that moment but the situation if anything got worse under tony blair and gordon brown when in two thousand they passed an act called the financial services markets act two thousand which basically included a clause which said the competitiveness of the city was more important than the rule of law it said that regulators must consider the international ability of of the financial businesses before taking in force meant action and they must avoid damaging the u.k.'s competitiveness so essentially they were they were kind of telling the f.s.a. that the newly born f.s.a. that it should always consider whether or not financial institutions my move overseas before they before they prosecuted them and i think this was serious and

then in two thousand and two you had another thing which when sarbanes oxley came in in the us it appear that gordon brown and tony blair had a deliberate strategy of what's called a race to the bottom in rate in the regulatory sense i am not blind there was obviously regulation the world loads and loads of regulation but which whether they were actually applied or not that mattered but that the overall policy was not to properly apply the regulation that existed right now what's interesting in the last couple of weeks is that there's live or a scandal at barclays bank and including other banks around the world is now enter . the bank of england so it's gone into the inner sanctum of the world central banks over in the u.s. of course there's this audit the fed of it that's been active for quite some time especially that the federal reserve bank of ben bernanke has been committing acts of interest rate manipulation and fraud but now mervyn king is a in this do you think this will have as some are speculating a kind of a ratcheting up of the post two thousand crisis leading to what some are calling

the industry's tobacco moment where that in fact when history suddenly had to admit that they their products are carcinogenic in a change the industry are we headed toward a moment where bankers have to admit that their fundamental business plan is toxic they're a cancer and industry must change i sincerely hope so i mean i read that are in the economist and it was amazing to read that article especially after their january article which was called save the city which was really an abomination of an article i was absolutely appalled by that piece so the one they've just done which mentions that quote of the tobacco moment i agree with it and i sincerely hope it is the tobacco amendment is the moment where banks turn the corner but you know when one is never that optimistic you know you look at the presidents and one does wonder whether or not they really are capable of reforming and then in terms of the complicity of the bank of england and the u.k. treasury and others that has to work to put fully become apparent but you know it's

difficult to know whether the bank officially ordered the banks including barclays to lie about their bore into buying boring rates or whether or not they were maybe just kind of saying it would be ok if they lied about their bank boring rates but i suppose either is both of those are fairly unacceptable yeah now let's talk about the royal bank of scotland r.b.s. a bank you know well it's the latest to be implicated in the live or rigging crimes other bankers mostly owned by the taxpayer so why is the treasury refusing to hand over documents relating to life or rigging. and what will these documents show ok well there's an inquiry underway in canada which is being led by the anti trust authority that the competition authority in canada and the bank robber of scotland is desperately trying to avoid handing over evidence to the canadian regulators i think are the we can well i know that we can that cable has the. business secretary and is generally pretty you know aware of the sort of things that banks get up to

and wants to try and so on the my he he said that you know is a no brainer as far as r.b.s. is concerned they must just hand over this evidence but it isn't just what's happening in canada that matters it's also what's happening in singapore because the trader there called jimmy tan who was by far the bank's biggest owner in the asia pacific region in one thousand in two thousand and nine about eighty million of the hundred sixty million profit it owned in tokyo for example and this guy is now being scapegoated or would appear that this guy jimmy turner is now being scapegoated by the royal bank of scotland and they're trying to put cues him of single handedly manipulating the libel numbers in order to profit profit to make profits for himself and for the bank whereas the truth would appear to be otherwise it would appear that in fact he was given orders by people higher up in the bank right we'll ask what's going on here at the bank of england because up until now the banks have pointed out the so-called rogue trader and the bad apple but if bank

of england authorizing this stuff as it looks like they are then we have time out systemic crime syndicate infecting the entire system now the same time the library crime story was on a following in the media in frasier there was a last reported story of the swaps missed selling tell us about the crime which banks were involved ok well that one involves every u.k. bank you know the key players include royal bank of scotland h.s.b.c. barclays lloyds clydesdale i don't know about santander whether it was involved but it probably was as well. basically what they did was they they sold interest rate swaps to semi's which are small companies many of which had no understanding of what it was they were buying in fact they were told it was it was something completely different they didn't understand that if the interest rates fell they would actually they could suffer huge costs and they would have huge break break laws or break costs if they had with they want to exit from these products but it's basically one of the biggest scandals that that's afflicted the u.k.

banking sector in suddenly within the last couple of years and it is literally destroying small businesses up and down the country on a virtually daily basis and i've spoke to one this morning he said that some of his friends are considered considering suicide it's so serious people are not just losing the businesses they're losing their homes and. it's just obscene i mean these products should never have been sold to these companies who had no idea what they were entering entering into it. and i finally in frasier people like to describe these crimes as victimless crimes you just described a situation where people are either threatening commit suicide always seen as it is of actual suicide but the biggest loser in all this of course are the people who are the big losers when interest rates are manipulated down and that of course to be the pensioner in the savers who end up underwriting and subsidizing the speculators in the city of london why aren't the pensioners who instead of getting four or five percent rate of return which would be the normally what they can

anticipate in a non fraudulent system are getting only a half a percent why aren't they more vocal in demanding that they get their full return on their pensions a set of you know a ninety percent discount to accommodate for the fraud i don't really know i mean i think i'm very surprised they're not being more vociferously especially when you think seventy pension schemes have lost because of the libel manipulation scandal but i think one of the problems in the u.k. is that people often are just like they grin and bear you know if things get bad they just kind of thing they should just shut up and accept this bad treatment that's been meted out to them by the bank of england and the financial system. maybe they will become more. considering what's what's what's emerging well ok in fresher eyes are you now in this grand scheme of things are there any prosecutions at all whether anyone going to go to jail here what what's happening on that prostitute tauriel front it does seem as if the political mood changed on the twenty seventh of june when the buckley sacking was

a name it seemed that you know the politicians probably woke up to the fact that some serious crimes have been committed by bankers and so they did say you know even david cameron even george osborne miliband and others suggested that criminal prosecutions should certainly be looked at. personally i'm not you know holding my breath but the s.f.o. the serious fraud office which is pretty incompetent. institution that has a history of failure when it comes to prosecuting high level financial crime is allegedly looking at it so we'll have to see but i mean you have to prosecute these sorts of financial crimes and you you have to if people are guilty of crimes on the level which have been on veiled in the barclays report then they should presumably go to jail but i'm not i'm not holding my breath to be honest ok in frayser radatz on thanks so much for being on the kaiser report thanks very much max all right

that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my guest in frasier of ian fraser dot org if you want to send me an e-mail please do so at kaiser reported r t t v dot ru until next time x. has a saying if i go. into. mission

. critic a should three times for charges free. range month free. free studio time free. download free blogs just plug in video for your media projects and free media oh god r t dot com you.