hello and welcome to our team for your own top stories the u.s. president says washington good news. there's any sun to monsters try to deploy its chemical weapons russia warns against democracy by bombs all syria's ongoing crisis comes under scrutiny for top syrian officials in moscow. they suspected on those bread breaks in both house from top to bottom a copycat that's occurring in the czech republic weapons and police uniforms were discovered in his apartment just days before the norwegian mass killer is due to appear on his birthday. and washington slammed for. tactics for striking in those arriving to help victims in

a way the other american. multiple assaults have killed over a dozen people in pakistan last few days in areas the u.s. claims are full of militants. up next mike's cars are always in all the joy in a song debate in his usual frank style because a report is up next. max kaiser this is the kaiser report it finally lot of interesting things when you read people's tweets right stacy well actually max my first headline is a tweet from you max kaiser if a song had a baking licens and borrowed one trillion dollars he could break any law anywhere and be called a hero by cameron and obama well stacey you say it's a bit of a gap in the legal standards you say here you have a guy julian assange. basically

a journalist who's being persecuted by people who don't like what he exposes about them versus banks that are openly without any equivocation breaking law after law after law stealing money you know they got a new guy barclays was saying i think we've had enough of banker bashing you know he's trying to you know somehow generate some sympathy out there from the poor does of people that have had their country and economy stolen and these are the folks that are held up as heroes you know a song is a hero the new guy berkeley's who i don't even know his name yet because there's so many criminals out there it's hard to keep track but the new barclay's guy c.e.o. barkley criminal guy he's of he's all these is the you know the joe well max the important thing here is that one of the arguments for why julian assange needs to be attacked is that he released information that could result in somebody dying in

the deaths of contacts and sources in afghanistan or iraq or yemen or places like that when various generals in congress have said in fact nobody has died because of it and so if that is their standard to apply towards this harsh over the top military like attack on truly innocent then where are they against the banks because we know and we've catalogued here newspapers around the walls mainstream media is reporting on the thousands and thousands of suicides in death across europe in the united states that additional suicides because of the financial collapse paul moore former top regular internet boss was saying you know go back to world war two you had over seven million people die as a result of the depression of the post crash era he said this is the biggest humanitarian crisis sense world war two and he believes that there will be more than the seven million people perishing as a result of the global financial scandal doggery and the other thing we pointed out

on this show a while ago. oh is that the whole new york the fake new york attack against standard chartered was just a shakedown and here in this first headline you see exactly that it was a shakedown london fairings seen surging as finance firms at new york jobs banks insurers and other financial services firms may eliminate a total of about three thousand jobs across greater london as companies in the new york region add nine thousand according to the u.k. based research oxford economics so we see here that standard chartered was about a turf war the business is moving to new york now and here's proof i found a help wanted ad. the suicide bombers wanted ad apparently low on bombers all running a short term employment advertisement on internet forum the ad seeks jihadists to carry out suicide attacks the ad indicates that the anticipated attacks will be solo operations only one person will be in charge they're just looking for rogue

traders. and then it goes on to say the job description promises only a very slight chance of being caught in a suicide bomber suicide banker cut from the same cloth i mean here is you know the economist magazine and every single week they have in the front section the classified ads for financial terrorists international monetary fund director western hemisphere department that's an ad for a financial terrorist here's travel just expressionless for the world bank here's an ad for a financial terrorist right here you don't get caught you want you to be a rogue trader commit trillions of dollars worth of fund you'd have no collateral behind them but here's another one senior position in fiscal affairs for the full morris international corporation another position for a financial terrorist this means you just go to the economist magazine if you want a job as a financial terrorist so wall street is hiring many of them looking for brokers and dealers people to call up people around america and say hey give me your pension

fund i want to lose that in some exotic derivative because the derivatives of course is the suicide vest that these bankers have strapped on to the global economy and this is what is melted down and the job description for al qaeda mirrors anything that would go into the economist for an ad is that it's a very slight chance of being caught right and the job is to possibly blow yourself up in a lot of people around you as part of a suicide banker a lot of the bankers end up blowing themselves up they definitely blow up economies they definitely blow up entire societies with their derivatives weapons of mass financial destruction and they're improvised explosive devices as collateralized debt obligation and the mic markets in this you know goldman or j.p. morgan all make happy to make a market in a number of bankers blowing themselves up they can collateralized that on some new bond offer that they'll sell to the greek banks of course nobody anything they're stupid now one thing when you think of jamie diamond who we have invited on to the

price report i sent him a notice to spend what three or four days now since. we've heard nothing back so we have given him an opportunity to come on the report and appear but he hasn't shown up yet max but i want to say that the mainstream media and all sorts of magazines in the united states have created a triumph of will sort of thing where he is presented at this as a secure oh as this big strapping handsome banker guy who saved the global economy during this financial crisis is a propaganda film tons of well exactly so here's this headline these female olympic gold medal rowers tower over jamie diamond olympic rower meghan miss nicky tweeted this incredible photo yesterday of her gold medal teammates hanging out with j.p. morgan c.e.o. jamie dimon she tweeted swung by j.p. morgan chase and got to see where all the action takes place as you can see from the photo he's puny he's a tour and he has an unusually small head so it's like c n b c is the like the

filmmaker from time from the will the hitler propaganda film and then when you go and meet the guy no you hitler's actually short it was not very impressive do something jamie diamond the scene be saying this is all powerful all of you need a maze like the short compared to these women on this olympic jaymes like this little short guy with a very minuscule sized. well so you know one of the things that we wanted to talk about for jamie dimon why we've invited him on here just so you understand that these derivatives we established as warren buffett said in two thousand and three they're weapons of mass financial destruction and i want to point to one of the reasons why jamie dimon might not want to come on to the kaiser report in this is that if you go to google patent search you'll see max kaiser's patent for the computer implemented securities trading system with a virtual specialist function and if you scroll down you'll see that j.p. morgan chase has twenty three patents that reference yours and it's mostly to do

with their derivatives market making function so method and system for determining the company's probability of no default system and method for estimating conduit liquidity requirements and asset backed commercial paper total fair value swap volatility derivative financial product now what ninety percent of the revenues over the past ten years are piggy back on my technology which i get nothing for they have paid me a penny not a penny well the second biggest group to reference your patent is the c.m.e. group and they're in the next headline gold continues to be money c.m.e. europe now accepts gold is clear in collateral over two years ago the us clearing house of the c.m.e. the world's largest derivatives market place had no choice but to allow gold as collateral why because as we showed some days ago while in europe bank deposits are expensive in the us financial system funding realized primarily on mythical assets as liabilities i.e. those that exist primarily due to faith in the system something which has been in short supply as a result of which the fifteen trillion dollars down from

a peak of twenty three trillion shadow banking system long used to fund regulator operations has been imploding well why is gold suddenly recognised as collateral by the c m e because the banks don't trust each other this was obvious in the two thousand and eight crisis when they stopped lending then central banks got together to abandon. over the situation but they never solve the problem that these banks don't trust each other so they're going to put up gold which is the only real collateral you can ever put up for any training and that's been true for five thousand years and it also effectively monetizes gold which is something people say can never be done ever again and yet there's a c.m.e. saying gold is money that's what that means and central banks around the world are reversing themselves by though buying gold going forward and you know i'm just waiting for the right moment because of course you referenced j.p. morgan referencing my technology and all their derivatives transactions i have course i've built in a back door into that technology and when the moment is right i'm going to pull the

plug in that stocks go to zero people so how do you know stocks go to zero and i can tell you because i'm going to pull the plug on that piece of well of course on this derivatives market the biggest holder of derivatives the biggest wielder is j.p. morgan chase with ninety trillion dollars here's the headline j.p. morgan u.b.s. said among banks queried libre probes j.p. morgan chase and company deutsche bank and barclays are among a handful of banks recently subpoenaed in a joint new york connecticut investigation of possible manipulation of the life or benchmark international lending rates new york attorney general eric schneiderman and connecticut attorney general george jepsen had also subpoenaed citi group and u.b.s. earlier this year live where manipulation. put that together with the steam is recognition of gold is a currency that gold and silver are currencies live or is the price of money it has direct relation to money gold and silver are money when you manipulate live or you're manipulating the entire global currency markets or people say it affects five hundred trillion dollars of the securities refers to the global currency

market gold and silver now unimpeachably money so therefore lie bores about manipulating gold and silver as well so if bar chilton or up to see if the sea or of jet christian around these people come out and say no so over you know we don't have the total facts on it they haven't read the wall street journal or the financial times the last six months like war is when if you listen of money gold and silver is money you know the fact that they don't articulate that their brains are in the silo on a desk somewhere connected to nothing or their brains expired at some point they're no longer functioning in any real sense or they're working for the bad guys and jepson their attorney general of connecticut his spokeswoman said that they hope to provide restitution to state agencies municipalities and other entities that may have been harmed by any illegal conduct from the life or manipulation but as you were saying i mean the mainstream media is focusing on well it was great for homeowners because their mortgage rates were lower however on the bad side municipalities paid more for their credit default swaps but nobody was looking at

the whole freaking financial system has been blown up jamie diamond pulled the strap he blew up the entire financial system now the libel rigging the barclays e-mails expose that they are the reason why they were doing it was a lot to do with their derivatives positions that day people who argue that longer manipulation rates going down saved me three hundred dollars on my mortgage last year failed to include the big picture that the last three hundred thousand dollars in equity of their home so they lost in a thousand but they made three hundred and there is just like. the guy who gets ripped off by the three card monte scam in times square at the end of the scam he always gives you back twenty bucks so you go away because your mind says you see i made twenty i lost two thousand but that's forgotten i made twenty so the banks are smart they stole three hundred thousand equity from your home but they gave you three hundred bucks and you're like well no winner

a winner all right stuart thanks so much bring on the house report make you max go much more coming your way. download. the creation so choose your language stream quality and enjoy your favorite. t.v. is not required to watch on t.v. all you need is your mobile device more charts any time to. welcome back to the kaiser report imax kaiser time now to go to london to talk with ned naylor leyland of the ott asset management ned welcome back to the kaiser report please be here with me max nader leyland you caused quite a stir a few weeks ago when you appeared on one of the least dangerous financial media

networks out there when you stated that central banks manipulated the price of gold even with the libre crime exposed why do people still mock the notion that gold is manipulated obviously manipulated that well i think people are more care probably have an interest in doing so max i thought was interesting that the chap from the bank of england paul tucker mentioned was the same day i went on c n b c he mentioned in the parliamentary hearing that he thought the other markets are the self certifying markets maybe being manipulated in the same way the law of war is so i think the more career anybody. place in. in things like the financial times or all the very very mainstream publications it seems some reason some an agenda against the idea of intervention in the metals right the degree of mockery seems to go up commensurately with the degree of exposure to having the price of gold and silver trade freely without manipulation so the preston america like c n b c that's

in the pocket of j.p. morgan of goldman sachs they would be very quite nervous of gold and silver were suddenly traded freely because then they would be called out of charlatans but talking about gold and silver now the c.m. eeg rupe in europe has announced that it will be accepting gold as collateral talk about this that but i don't think that's a huge surprise i think that this is something which is rolled out of the last couple of years max where increasingly gold is except a disco actually is probably part of that same move which i know you've mentioned yourself about gold becoming a risk free cost and you call somebody balance sheets of these just part of the overall process i mean why why money or as mr mr jaitley said the only true extinguisher if that would actually be considered to be money everything is a great shock but it's pleasing for those of us that made noise about it for some time i think it's just another step towards the inexorable return of of gold as

money on a global basis at some point in the future but it's pleasing to see. that make that change. and to support these kinds of things to continue on over the next twelve months ok let's move on to some recent comments by jeff christian of the c.p. m. group in an interview on financial sense news our first explain who jeff christian is in why what he says even matters what your christian. basically been either put forward or he put himself forward as something of an apologist for the existing billion banking system he's constantly stated that anybody who has. issue with the l.p.m. a fractional reserve system that they don't understand gold and silver and how it's trading cetera and so he's very much takes the other side of the argument from those of us who believe there is a big structural problem indeed the formal investigations he f.t.c. put on a couple of years ago into silver manipulation he was used as the individual put

forward to those allegations and you know he did a radio interview recently which caught my attention maybe because it seemed to be a substantial change in tone that he basically said that he felt that people who owned unallocated gold within the local london system or at least some of them thought they probably had allocated in those that didn't perhaps didn't understand what unallocated meant and furthermore the unallocated gold ownership isn't actually ownership at all in fact the banks own it themselves and you are a credit to them they king collateralized hypothecate re hypothecate against metal and you can go from a from a thread underneath it and i think it's very interesting i mean i know he is stating things like this in the past back in one thousand nine he wrote something called bullion banking explain way he made similar comments that if you're in an allocated gold it's not really your asset and that's how it works but i think it's very interesting to to have this discussion put forward into the public domain by

someone like mr christian he's seen as as i say an apologist for the status quo and he stated that he thought the unallocated gold was probably more of a problem than the comix futures market and you and i'm sure would agree that that is the case right where i listened to the interview now aside from being a rat jeff christian made the point that the largest percentage in bully on is the on alec over the counter stock which is exposed entirely to global systemic risk that is to say. that as the banking system continues to implode due to the complete absence of regulation the call that an allocated training in the o.t.c. market in london is untidily at risk not even jeff christian could deny that correct that's exactly right he stated quite clearly the he believed yes at some

point that could become an issue in his billion banking explained piece in ninety nine he stated that some entities effectively leverage their billion positions forty times some might argue it takes place to an even greater extent than that max but yeah sure i mean bearing in mind that there isn't any real physical collateral within the system beyond gold bars the fact that this hypothecation. collateralized nation over underlying position is it's your own by people who believe that they have actual gold is in my opinion a major major problem which still hasn't pushed through into the market yet but i actually think that says something going on which is quite interesting which. i mean some of this is anecdotal but it but it's certainly the case that the moment the opium a member banks are very reluctant to allow large buy is on the overcounts a market to have delivery made outside of the b.m.a. system i know more than one situation at the moment where people are trying to have

substantial amounts of physical silver delivered outside of el b.m.a. and various road blocks and hand in face situations are emerging from that where they're basically not not willing to do it now that would tend to suggest that there is pressure building in the background and i know that sandeep's basis this would corroborate this in it's certainly saying that at the moment the. pressure on the allocated is extreme and put in it's going to hiding and people are unwilling to play this game any longer pursuant to what you just said ned jeff the rat had this to say and i quote many don't realize that allocated metal is owned by the bank the bank can hypothecate it they can lend it against it they can use it as collateral for other lending they have the liability to give it back to you or pay you the value but it's actually their gold at that point so in other words

this one allocated goal is owned by the bank and as the system collapses due to do the overindebtedness when it comes time to make good on some of these claims the bank is going to use the gold you thought you won't just settle their claims correct absolutely but probably more more importantly is what the light the meaning of that is for owners of of real physical gold in their own possession which is you're likely to get bifurcation of markets once that once the event takes place people will recognise the difference solve one in one hand versus forty in the bush will have many may exist behind the scenes. you know yet yes it's both a longing but also probably very good news for those people who've taken that additional step to making sure they know the custody and the location of the physical is beyond the remains of this system or a christian goes on to say that quote if the billion banks are using ten percent

reserve requirements they'll lend out ten times as much gold as they have a deposit if it's not a bank there's no such structure against it at all your thoughts that well sure i mean you know this also feeds into this whole a lot of the rules in london buses or the rules in new york or europe and so i think getting a grip on exactly what goes on is very very tough but it's interesting to hear that people who would purport to suggest that the existing system is acceptable. or willing to also state the well yeah i mean it's not really a property deliverable market if you own an allocator you don't really own it and this is the situation i mean i would reiterate what i think i've said probably on your show before which is if you're a malaysian hedge fund manager and you own ten million dollars and for whatever reason you've ended up on allocated rather than allocated i'm pretty confident those people as mr christian say is on the way of the true meaning the true legal definition of what that is and then i want to go back to something you just got

a moment ago about buyers having difficulty getting their hands on silver just to give us some more detail on that you're in london london is a precious metal capital of the world we hear rumors of tight supplies of solver of course going back to the amp rather days they outlawed more or less purchase of silver and took all the delivery of silver at one point is this about a market function it's a regulatory function what's going on with us well i mean the point is this the obviously the system as it is is operated for a long long time and previously when people have tried to take delivery of substantial amounts are not talking about ten thousand ounces and talking more your million to five million to ten million ounces which is a lot of. a lot of metal if you try and get that amount to live at the moment before the system and found a way of paying you out just like a bank if you try and remove your million dollars while the banking system works well you can have that that's fine move along that that system is coming under

pressure and some of the people are trying to make these sorts of deliveries outside of the opium a system or having robots put in front of them along the lines of well you can have it in a few months but only to an l b i'm a member bank by the way who's your client who is it he's trying to to do this try to deliver outside the system there's a little warning flags in my opinion of of the fact that there is tightness there and as i said you know sunday eight billion service base is service which i think is a really the best way of getting a grip of tightness the effects of what he's doing is looking at the spread between . didn't offer on the allocation on the allocated metal which gives you a real sense of the actual tightness in that system and that is also showing similar smoke signals that there is tightness that there is a problem there the higher prices are likely to follow from it. there are a number of some anecdotal signals and some more mathematical signals which are all saying the same thing which is that people who own allocated i'm willing to make it

on are located in that there are also people trying to take delivery outside of the system right now i should mention so deep gently is a regular guest on this show he's a brilliant bassist and his research institutional research is very highly regarded and this idea where the supplies are tight and people can't get their hands on large purchases or not even that large purchases of solver this is exactly why you see backwardation correct the price of the short term is higher then in the longer dated futures contracts correct indeed i would just say that this is a way of coloring that comment so yes i mean we've been in backwardation solidly pretty much from january of this year i mean there have been no it's very stripped out but basically we've had a. near permanent backwardation which which which sandeep and his and professor they would both say is permanent backwardation of gold and silver is a sign that everything is breaking down completely and at some point we are going to see this if we're to be correct in as much as only gold and silver money and everything else is just a credit and

a promise which can't be paid are then one could expect this to happen it seems to be pretty close exact timing of the big move where people start to realize that should you ask for delivery you won't be able to get it timing that it's going to be very very difficult but the signals are there and i think the long consolidation we face we've had has helped to bring this about in a way all right near the low end we're out of time thanks so much for being on the kaiser report was a pleasure is always nice and that's going to do it for this edition of the kaiser report with me max kaiser and stacey hamburger thank my guests the linda asset management if you want to send me an email please do so at kaiser reporting r t t v are you. max as are saying by. the anonymous.

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