from the streets of canada. trying to corporations rule the day. hello and welcome to our team i'm karen taraji these are your top stories fresh clashes erupt in bahrain with police using tear gas and rubber bullets on protesters as prominent human rights activist awaits a court verdict on what's been going on since last year with the ruling monarchy cracking down on public attempts for freedom and reforms. the world's largest international muslim body shows syria the door as some member countries funnel more equipment and allegedly weapons to the rebels the organization of islamic corporations expected to pass

a resolution on syria where fierce fighting rages on. small for the see the u.s. reportedly spies on its own by using a system that connects all surveillance cameras to nationwide attack experts believe the software which can match names to faces is being abused for personal and political reasons not to protecting the nation from terrorists. thanks the man feared by offended sears as he fights your corner that's next kaiser. i'm max kaiser this is the kaiser report well you know more bankers more shenanigans. max keiser when you look into this mirror who do you see. well in fact you may be seeing jeannie donnelly i think if you read this first

headline chase c.e.o. placing blame hurt to qana me look no further than the mirror if you want to know why the economy remains so sluggish says the c.e.o. of the j.p. morgan chase and company it's because of us we scapegoat each other we point fingers said jamie diamond while touring ohio no mirror mirror on the wall who's the cricket has of the malts jamie diamond this is a classic blame the victim routine i think he's implying that. we're just going to give it the old college try and try harder to overcome the stagnation of the economy the fact that diamond cut off millions of people from bank accounts because they weren't discoursing enough the legal shakedown money the fact there's been evolved an innumerable crooked scams over the past years paid a small fine and bankrupted the economy none of them plays it's all about jamie's

vanity well they talked about him being in a tent next to a j.p. morgan chase branch there in ohio and he's meeting all these you know groups all the employees have to live in the tents now because he's breaking up in the economy it's called to go for who rebuilt jamie bell. but he was getting in like a bus going from place to place i thought well this is so we're it sounds like of course is the heartland where all the presidential candidates are touring to eating corn dogs and doing things like that telling everybody how much they love them and vote for us i thought well who we all know. timothy geithner is about to leave the treasury is this him on a tour preparing for the replacement as as him as a replacement for timothy geithner you know this is all politics because of course jamie dimon will be the new treasury secretary geithner will move over as head of goldman sachs or something and when they make that news they make that announcement you know the public outrage will be there for a few seconds i'll be like oh my god another banks or another revolving door

another political bank's third trifecta we're all going to get financially hoodwinked once again then they'll put this great photo up of jamie with the people in ohio and as cardigan sweater and golf club you know shaking hands hello i'm a normal person i'm not a an automatic blah program to steal all your money and destroy your family no no i'm a human being i'm jamie doran and i'm going to join resorted to ok so let's move on from there so jamie diamond said we skate go to each other we point fingers which i kind of think is him seeing all the farmers along the highway on his bus tour saying there's the guy jamie diamond he's the one that took our money from emma global so let's move to another part of the heartland of america an important voting state nevada vegas billboard with suicide dummy hope you're happy wall street well according to our first headline jamie dimon is very happy you're taking responsibility you're dangling off the billboard in vegas as you see from these images those are the actual victims of wall street those are suicide dummies and

this is trickle down economics suicide i think you see here no you know i don't know why people see this is i mean this is exactly predictable i told you that when you steal money from somebody they blame themselves you know i keep what people on wall street know this and i know when i was working on wall street if you still somebody has money they blame themselves so these people are put are committing suicide in effigy upon themselves whether they have hanging up a bank or the guy who stole the money that's the psychology that's the psychology that makes wall street very. very rich the victim always blames themselves well the victim blades and sells especially in a casino gulag and here in vegas is the heart of the casino gulag also it's important to note that here is a work of art which i compared to banksy in terms of how much it's reflecting in telling you as a society to look at yourself and look at the society around us and instead this is what the responses although the billboard alarmed drivers it's unclear whether

regulations in the area ban roadside signs with graphic depictions of suicide a spokesman for the nevada department of transportation said there didn't appear to be state regulations on the matter and a spokeswoman for clark county was also not aware rules against the subject matter so they're talking only about whether or not you're allowed to hang a suicide effigy up on a billboard and not whether we should reflect upon the nature of our financial and banking system. jamie donnelly would love it if every if thirty million americans committed to it would make his day that's less food stamps is going to process all that forgot the food stamp processing it's who needs it all you know you'd rather have love for thirty million americans commences in less indians on the reservation less amounts to less hassle so jamie diamond however could be very happy to look forward and up at the department of justice and the u.s. department of treasury where he might be very soon and find some allies there because they're not pointing fingers at any of those banks there is

a tweet from reuters flash no criminal charges against goldman sachs or employees for subprime deal justice department says so there you have it look at the we were you peasants out there it wasn't goldman sachs who defrauded you investors and you pension funds around the world with their advocates deal yes they were selling you toxic products but it's your fault of course there's not a problem of justice there's not a problem of justice going to cover wall street i don't know this guy eric holder he's to head of it what does he do all day but because no. does he actually do a gosh darn thing to go after criminals i mean you've got truckloads of evidence piling up outside the white house there where every things is pat and it's nothing but pure evidence without any reasonable doubt pure scavengers from the wall from sea to shining sea the lid

up of the book cookers eric what's wrong with you are you valet. but there are some do gooder is out there some guys with some programs to sell you who are seeking to help you all how did spot the next big banking scandal there's a new company out there called digital reasoning and it says it can help financial institutions spot fraud by analyzing terabytes of internal e-mails now the c.e.o. hopes financial institutions will buy the software because he says he believes there's a pressing need financial institutions he says could save billions by spotting fraud or insider trading by employees or catching financial advisors giving on up the cole or illegal advice u.s. senate hearings later revealed that in two thousand and seven before the financial meltdown goldman sachs employees wrote e-mails bragging of selling blatantly terrible investments to clients the c.e.o. of this company says his software could have helped compliance departments catch

such activity the problem is the spawning fraud the problem is they don't have a problem spotting fraud we just we just thirty seconds ago said goldman sachs was found committing fraud so the problem is not can we find the frog we're swimming in the this company of course will probably go public in a fraudulent way brought public by the same fraudulent banks and then they'll discover more frog and then the justice department will be back on the knee pads ok so here we have the department of justice. you know agreeing with jamie dimon that there are no banks or us in this global economy now we have them again morgan stanley price fixing pact fall by a.a. r.p. wins ok so this is the american association of retired people and a federal judge grudgingly approved morgan stanley's four point eight million dollars settlement of electricity price fixing charges over activity estimated to have cost new york consumers about three hundred million dollars turning aside

claims by the a r p that they accord let the bank off too easily the case which also involved electricity generator key span corp was the first in which the u.s. department of justice said it tried to recover improper profit from a financial services company that used to riveted to foster anti-competitive behavior morgan stanley made twenty one point six million dollars from derivatives minute relation of the energy market which cost consumers three hundred million dollars they made twenty one point six million the department of justice said over basically what the judge was going to decide which they were guilty and said no just make them pay four point six million dollars from a normally they be paying like three times damages or close to a billion dollars in funds and the company would be put out of business but because or soon as a friend of jimmy geithner then they're allowed to stay in business as long as they can milk the cow frog forever and. there's plenty of fraud in those to go to milk

them some more of those what we do on wall street we've thrown a. little from jimmy go in there is our problem or and we go it's all we ever do u.s. district judge william pauley in manhattan said quote given the government's stark allegation of manipulative conduct against morgan stanley disgorgement a four point eight million dollars is a rather relatively mild sanction there is a risk that a large financial services firm like morgan stanley could view such a modest penalty as merely a cost of doing business. dall you don't think so but despite this court's misgivings the government decision to settle for less than full damages is entitle to judicial deference particularly in view of the novelty of the government's theory right and to pay the pittance of four million and change they're going to be involved in more illegal activity and still more pension money rick more municipal bond rigging rig more live board type rigging one or more money for terrorists

launder more money for drug cartels you know paid a pittance so you don't put the criminals in jail and you incentivize them to commit crime then they're going to commit crime and then your society is falling apart oh there's a shooting in wisconsin there's a shooting in taxes oh other societies breaking apart i wonder why because you're authorizing looting by the transcript ocracy and the pay for their looting they completely undermine the integrity of society that's obama's legacy he killed america beric yes let's turn back to those images of which now is just are those are effigies of people who are the victims of banking crimes committing suicide dangling off the advertising billboards on which you may find a chase bank advertisement well that's the future and it's going to be real you know that jamie diamond lover thirty million americans kill themselves today jamie to i'm going to be here is smiling less food stands for us a process less less bother less people all yeah for me i'm jamie and you can go

kill yourself that's to be the message for chase j.p. morgan chase j.p. morgan bank kill yourself bank have a nice day since your attention was going to cause report thank you max and i go much more coming your way. will. technology innovation all the developments from around russia we've got the future covered. download the official r.t. application itself to use your language stream quality and enjoy your favorite from our time our t.v. is not required to watch on t.v. all you need is your mobile device watch r.t. any time to.

go back to the kaiser report on my skies or time out a goatee and a kingdom and talk with john as ease of the nomics dot com john as these walk in the guys report funtastic the maps are right john aziz there was no liability lesser crime there was no sir prime c.d.o. crime so why is everyone so upset with the bankers everyone's upset with the bankers because since the year nine hundred seventy one the bankers have got much much much much richer and everyone else has got much as much or as a percentage of g.d.p. you know corporate profits and. the financial sector profits have shot through the roof in those years. wages of shot through for i think i think the big. problem with the financial sector is the level of disparity.

it's ween them and i want us right well imagine nine hundred seventy one of course that's when nixon closed the gold when dowie just embarked on this global experiment of currencies all the world's currencies refer to each other there's nothing collateralized in any of this currency of any substance an hour into a weird phase john where the bankers are trying to come back with arguments that they don't have any actual collateral on their books but they have flow they have deal flow and somehow this is their collateral your thoughts they have really hypothecation you know if you have if you have a very very tight and full of assets and you're just reopened the gains in re up against the riata getting them then it's going to look like you have a bigger economy but if ultimately you're not producing much and if ultimately people's wages are going down and ultimately if people are getting poorer then the

financial sector is i mean the key. to all of this is a financial sector does not produce anything what it does is it kind of reallocates capital resources and that's what ultimately we have in the west since nine hundred seventy one they've been set free to read off the case and to reallocate resources based on their preferences and ultimately it's not really working out for the why decides it is working very well for them because their wages and that their profits no bonuses are going up you know a tire from their hatch certainly a graph and it showed very clearly that as the level of leverage those up it's correlated very very strongly with love the bankers bonuses and that's what we've done is what we're getting the bankers are operating for themselves they're looting and pillaging and they're not going to stop and say let's stop it. bernard

john we had another banking scandal last week with standard chartered there being there being looked into now as part of a money laundering scheme and their response from the u.k. from boris johnson from folks in the city is that the u.s. is taking a very anti british approach to this that they are calling the kettle black that they're not looking at their own back yard on wall street but the fact remains john aziza i'm curious what you think about this a i g limon brothers m.f. global the london whale barclays lie bore ages of p.c. money laundering standard charter they all went through london and it all touches on something you've been talking about here really hypothecation because only in

london do you have infinite really hypothecation that is to say you can sell the same security an infinite number of times with no collateral correct and that's the problem you know glossed ego was repealed because the u.s. banks felt like they could be true london where you had infinitely above the geisha so i do i think there is something sick of the heart of the city and i think that thing is the ability to multiply up a tiny basic collateral to whatever level you want i think i think that's absolutely connected with. all of all of these scandals i'm not i don't i don't i'm not completely convinced that what standard chartered has done is particularly awful because i'm not sure the united states really has any right to be dictating. to individuals and businesses which countries

they can do business with while this is another aspect to this growing crisis john aziz because here you have internal e-mail e-mails at standard chartered from individuals at the banks saying who is that f. ing america to tell us how to do our business. and so here you have a conflict which is now morphing from just a bat rogue bankers in a corrupt system shield by central bank shenanigans and corruption now it's feeding into this glowing political crisis so my understanding john is that at the moment standard charter got the word from this. financial services authority in new york city that was calling him up on the carpet the tim geitner shut them down and now it's all back to business as usual so for a moment there though it looked as though there was going to be a bit of a conflict for real between bankers who want their own soft

a termination and bankers in new york who say no it's our world pay us your tribute or we'll put you out of business well i think one of the. one of the good things about the financial sector being in the destructive and corrupt. mode that it's in is the ultimately the bank is going to destroy themselves and when you when you do have a financial system. you know competing are completely under strain wait to. grab as much as they possibly got there no end of trouble trampling each other down hard johnny talk about banks destroying each other and of course you can't have banks are trying to other without central banks assisting and destroying each other and of course central banks policy of quantitative easing out of the say keep rates artificially low only to benefit a select few and meaning the savers around the world subsidize criminality in the

city of london and wall street isn't that also part of this kind of suicide mission were all the banks are lined up in a circular firing squad all absolutely. quantitative easing is demonstrable a and imperatively should own to enrich the financial sector at the expense of everyone else because of an effect known as the cancel out of facts whereby when you introduce new money into the system it doesn't i then the purchasing power or does it transfers the purchasing power from the old money to the new money so what what what we have is. the banks they get this new money and they get the old per cent and the people who are. with the old money the people are the retirees. anyone holding dollars isn't purchasing power for the benefit of the banks. right so to put this

in terms of a security is transaction there's two terms people can look up on google after this interview want to be the council on a fact but the other would be the cram down so when you introduce more money you are effectively cramming down all of the existing holders of money and those who have been crammed down with this new layer of money get all the benefits those who were there before their benefits have been crammed down or diluted down to something a very little in terms of equity and this is a continuation lot of people refer to this as a ponzi scheme which is kind of like the you imagine a floating upwards in a pyramid scheme but it's actually a perpetual cram down scheme where new money quantitative easing is constantly used to financially repress the population into oblivion giving only the few insiders the benefit direct absolutely but it's not it's not just quantitative easing is

what i found looking up looking at the data since one nine hundred seventy what is the the financial wealth of the financial sector goes up. as more audience creates it why are the sense transmission mechanism which is interest rates but as and to a much money supply goes up. the financial sector gets richer so it's it this is just a new phenomenon since quantitative easing this is been operating in cinema slowly and consistently. since. and somewhat. ok john you mentioned this term transmission mechanism which is enter gall in any notion about free market capitalism or free markets and price discovery that is to say that when a certain supply and demand curves are happening in one area of the economy there

is a transmission mechanism that will affect them another area of the economy we see this right now between the euro and the dollar the euro is going through interesting times and there's a transmission mechanism visa v the global banking system where the dollar is perceived to benefit but in this new world john isner true that it we don't have transmission mechanism vala transmission mechanisms that should be operating freely are now being blocked by thinks extraordinary tools of central bankers and primary bankers and commercial bankers who have raised the fee to do business and have destroyed the market so grievously with high frequency trading we end up with price fixing and command and control economy in a global soviet era monell culture economy free market essentially is debt correct absolutely. well what we see. when the central bank chooses to act and redistribute purchasing power is the central bank is actually

determining who gets to decide what in the economy when the central bank transfers purchasing power out of the banks through quantitative easing. it transfers real power to command the economy. to the financial sector and away from the productive . industries and business people and entrepreneurs and individuals and so as the financial sector of the operates more power it controls move for the economy and so if it is effectively central under the central bank you saying the find that the second ship should have more power all right final question john the global economy. if we know that the only outcome is going to be at that jubilee of some sort because there's no way five hundred trillion and more in debt it's going to be paid off for the global economy of

a sixty or seventy trillion g.d.p. output so what's the timing on this and now what will be the winners and losers well there are three of us yeah there is the debt people the what we forgive the debt and start again there is lick the nation where the system crashes the banks go to zero and the jubilee happens that way and there's a third way which is hyperinflation and i'm not going to say which ones likeliest but given the image of leverage and drought and we can grow organically you know as . without but that being severely reduced i think i'm absolutely virtually certain that it's going to be one of those three options and it's going to be very very messy and

the winners and losers i can't say although i i i would guess the banks are going to gain the system from the political. the political side for that for that benefit i consider winners losers but the timing. could be any time from now up to you know twenty seventeen twenty twenty two twenty twenty five because the. the bankers and the politicians and everyone move s. that interest in maintaining and sustaining the system is going to try as hard as they can to keep kicking kicking kicking kicking kicking kicking the can. is just a matter of how well until the roof falls and it's going to one of those three things look we're a nation that jubilate or huge huge huge inflation all right john disease of earth zs anomic so that's all the time we have thanks so much for being on the kaiser report thanks max all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our time i guess job as easy as easily

nomics dot com it's close i mean email please do so at kaiser reported r t t v dot ru until next time ask us are saying via.