a hologram in digital space that's been turned off in different countries and regions a bit at a time the the global economy is going dark you know if all these financial institutions were lit up from outer space using a special telescope that only looked at collateral value of banks on the world market you would see america in the world going dark and so they're in response they've ramped up the road. after all the glitz greenspan famously repudiated themself by saying i was completely wrong about my ideology that guided me for twenty years in fact these markets are not operating anywhere close to what i thought they would operate ben bernanke he's less interested in so for putin than self-preservation he's figuring out how to get out of washington d.c. one step or have the mobs with the pitchforks and torches so we move on to the next headline with in mind the notion that they think it's still like in the old times

where everything was guaranteed by the state why all these polish people got scammed by this obvious fraud. where they had guaranteed returns what happens when the music stops a report from the federal reserve bank of new york suggest that the bulk of equity returns for more than a decade are due to actions by the u.s. central bank the s. and p. five hundred index will be more than fifty percent lower around the six hundred level if the bullish price action proceeding fed announcements that was excluded the study shows now if you look at this chart you'll see that the report shows that the market has a tendency to rise in the twenty four hour period before the release of the fed statement on interest rates and the economy presumably on expectations that chairman ben bernanke and his predecessor alan greenspan would discuss or implement a stimulus money printing measure to lift asset prices but as i've explained the the fed is essentially at the the head of the river of calf and up until

recently that river of cash would irrigate the economy equally jobs would be irrigated wages would rise the manufacturing sector would there be a benefit to them they'd have rising wages you'd have real estate rising you'd have stocks rising but due to financial engineering and the adoption of derivatives and high frequency trading that irrigation now is being manipulated so that the cash only goes into stocks a few stocks owned by insiders in washington and wall street and that's the only place it goes and when bedrock it goes in for the congress as a we're worried about deflation we're worried about deflation he fails to say that he engineer or as you just pointed out again in the stock market that's where the inflation is going that's that's the inflation dow jones getting close to fourteen thousand without the third the dow jones would be at five thousand or less

and that's what he that's what he should be talking about this is his re engineering of the economy to benefit. a few stockholders and to do some franchise man of the entire country it's reengineering look at that chart again the line on the bottom that red line that is what the s. and p. would look like today with out front running the fed the blue line is showing that the federal open market committee has released eight announcements a year at two fifteen pm eastern time since one thousand nine hundred four the study took the gains in the s. and p. five hundred from two pm the day before the announcement to two pm the day of the statement and subtracted that market move from the s. and p. five hundred total return over that time here's what we're talking about here the insiders have access to unlimited credit at virtually no cost that's the great thing about having interest rates near zero for the elites everyone else remember pays a lot more for interest and if you're at the bottom of the socio economic scale you're paying an annualized rate of four hundred percent for money but if you're at the

top you pay no money to borrow money so yeah you understand that they're going to do quantitative easing so you call your broker as two thousand and nine remember in two thousand and paulson told his buddies at goldman sachs and on wall street that the government of what she was then working for was not going to lead goldman collapse they all the guys then went out on margin borrowed against everything that they could borrow against and went long bank stocks incredible amount of money was made in two thousand and nine people's wealth tripled quadrupled in two thousand and nine based on the fact that they can borrow money and zero per cent interest rate with no risk now they call themselves captains of industry and entrepreneurs' but you know a recent smokey can make money in that environment it's no big trick to be able to borrow money at zero percent and and rule rule the roulette wheel on guaranteed winners how is out of business choice well going back to that first story they underestimated the risk because they assume the government would be there to

protect them in this case and you notice that with this study it stops at two pm of the day of the fed announcement so if you don't have your bets in by fifteen minutes before the fed speaks. then you're too late if you don't if you're not done by two pm you're not going to catch your tee time ok you can get nine holes in a development club and get a ticket if you get it all done by two pm you get nine holes and i've done it and then finally occupy sets wall street tie up as protesters face burnout so occupy wall street the global movement against inequality that ignited in manhattan last year with markets first anniversary by trying to block traffic in the financial district and circle the new york stock exchange it's called seventeen september seventeenth they're planning on making some citizen arrest but bloomberg news here asks that now the next step for occupy is they have to decide whether they want to do what most americans want which is a little bit of reform to the system or whether they want to take down capitalism

go bloomberg of course would make that statement because he's trying to defray attention from the real underlying issue here is whether capitalism is going to be taken down or challenge because we don't have capitalism that train left the station lower down what do we've got to entrenched kleptocracy and unfortunately what occupy wall street is completely missing the boat here they don't really understand what the problems are they don't understand who the players are they don't understand what tactics can get them over and i've explained to them several times what tactics they can use to neutralize the level of influences that are destroying this economy but they fail to take note they don't want to do it any effective way because after all if they succeeded then they might actually have to move on with their lives and go to a post success story all right stacey newman thanks so much for being on the kaiser report think you mags. much more coming your way.

download. the creation so choose your language stream quality and enjoy your food. t.v. is not required to watch on t.v. all you need is your mobile device to watch on t.v. any time. sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you don't know i'm sorry welcome to the big picture.

only welcome back to the kaiser report imax guys are time now to go to moscow idaho to talk to john rubino of dollar collapse dot com your ringside seat for the global financial crisis john bloggs there but also provides dozens of links to stories

relevant to the currency wars financial collapse gold and silver john welcome to the kaiser report and max thanks for having me on the right john robineau your web site is called dollar collapse dot com tell us about the collapse of the dollar and what is the process of collapse and is the end near or in fact here you know we've been talking about this theme for a number of years now dollars been edging lower are we at the collapse point now john you know this site was actually set up as a marketing site for a book that james turk of gold money and i co-wrote back in two thousand and four and at the time we kind of cause a collapse of the dollar in particular in the currency system the world in general was imminent and and we were wrong the system has held on a lot longer than. we expected at the time and the basic processes is not that complicated we in the u.s. and also the rest of the world are just borrowing too much money you know we've

created a system where governments around the world have printing presses which inevitably they're abusing you know every time there's a lecture in the election you get massive amounts of new currency being created in the hopes of you know greasing the skids for the incumbents and in the process we've built up huge amounts of debt which we can't carry and at some point the excessive currency creation process is going to lead just through supply and demand to a sense around the world with these paper currencies are really worth anything anymore and then everybody's going to have to be exits at once and we'll see a collapse of confidence. in paper hurts the in particular in the u.s. but also around the world in general you know because if your currency is going to be discredited at some point and it's the general trend is going to be more and more currencies followed by more and more money printing followed by more and more crises based on the you know caused by the money printing the poorer and better

world and so the only thing that we can do now as individuals especially is the position of the folks who are increasing monetary crisis and a general shift out of paper currencies and paper assets and into real assets so you know all roads seem to lead to go now. right so the book came out in two thousand and four dollar collapse the thesis was that this dollar collapse was eminent and the it has dragged on for some time and during this time we've seen it zero percent interest rate policies around the world by the federal reserve policy and now the european central bank is pursuing a much cheaper interest rates heading towards zero percent interest rates so this this this crisis has been ameliorated by the ability of these central banks to bring rates shockingly low which of course penalizes savers penalizes the

pensioners to subsidize the speculators to work on the dollar but this says given some extra innings to the dollar but at some point even those extra innings come to a close and i think what we're seeing now with some of these prices in the commodity sector spiking to all time highs or twenty or thirty year highs and maybe this is the dollar collapse inflationary spike the timing seems to be right now john your thoughts when it comes this is what do you like the early stages of it and again these guys have so many weapons and basically they. you have unlimited printing presses they didn't know you know your houses were two million dollars they want to they could buy your house for two million and make you feel a ridge make you spend and keep the get go and for a little while longer so you never know when it's going to fall apart but this is what it would feel like with gold and silver and boileau going up and farmland getting more valuable and and paper assets becoming less and less interested and

everybody because they don't return and so money is flowing into hard assets because they been growing relative to paper sets over time and let the process accelerate and you get hyperinflation although it's not due to the oversupply of money as much as it is a lack of confidence in the existing currencies that are out there and yeah we could see the current process accelerated until it turns into a wholesale plate of your currency or we could see these go as come up with some new trick to pull this again for another two years and there's really no way to know right well i want to follow up on the zero percent interest rates on a bit more because part of the zero percent interest rate story what we're learning is that not only are the the the banks offering these rates and the central banks offering these rates to keep the speculators happy but in the case of the bank of

england barclay and barclays and the library rate setting in the u.k. they're actively engaged in fraud and market manipulation to keep interest rates at an artificially low level to help out speculators so the fraud has now jumped to the institutional level the bank of england has been clearly implicated in a wholesale fraud probably the first time in its you know multi hundred year history as the bank of england mervyn king was so horribly discredited doesn't end even the back of international settlements the central bank of central banks is waving their finger at these other central banks and saying you guys need to stop committing a fraud. isn't that worrying john oh yes it's all for governments lie about all the major statistics that it really is you know in the us obviously everybody knows about them our unemployment inflation numbers being distorted and interest rates of the same thing you know that they're they're lying to us about the fundamental reality of the economy in order to be able to to keep interest rates lower than

they would be otherwise because you know the bond markets actually understood what was happening you'd see interest rates spike around the world. just because they are in the peripheral your own country you know people are figuring out that spain and italy can't pay their bills but we in the us are just as bad a shape except we've been able to to maintain the fiction. that we're in better shape than a lot of these other countries and you know basically we're becoming a third world country and so far we've been able to hide the macro facts that basically the lifestyle that americans have come to take for granted are disappearing everywhere in every sector of the economy and the question is how much longer can the product continue first of all and you know once it's exposed then everybody has the exit and then the game in and secondly what happens to the people

that have been committing these broad you know these guys are committing criminal acts as you say on the show a lot and in any other walk of life. these kinds of by natural lives would be considered crimes and you go to jail for it but if you're a major bank or the head of better reserve or the head of the bank of england you somehow can get away with this and because it's seen as macroeconomic policy or monetary policy where lying is basically accepted as a way to help you help the people that you're you're in office to help ok and obviously that that's the fundamental flaw in the system now with these guys get away with it and the question is how much longer you know do we end up putting these guys in jail and i you know i hope so. but right now the people who would have to prosecute the criminals are the criminals and so we won't see it until we see some kind of regime change or some kind of dramatic change in public sentiment

here presents the odds that that movement ron paul's the pet project. is the first step in the public taking back. control of the mechanisms of monetary and fiscal policy and you know should we discover actual crimes there you know blatant. undeniable criminal activity that could open the floodgates you know maybe we point out the that we're doing things which you know we do a lot of better we would find out a lot of criminality and maybe the people who are responsible who are actually get punished were and that would be such a sea change in u.s. policy at least i think it would spread to the rest of the world maybe that would be a good thing but for me tips the balance and you know sends us off the edge as far as we are currencies go i don't know but it's wonder that he and it you know is kind of a one would be nice to see these guys get punished were the crimes they committed

against sabers in the tours and the rest of us right well john you know i acted in all its point direction toward a john course i'm for example former c.e.o. of goldman sachs former governor new jersey he was caught stealing one point five or one point two billion from m.f. global. jamie diamond as an accomplice is defense was the money simply vaporized and now he's back in business again he's going to be starting a hedge fund so they caught him red handed they said in his defense was the money simply vaporized no penalty whatsoever no public outrage whatsoever even though segregated customer accounts or stolen by john correspondent jamie diamond absolutely no prosecution whatsoever but i want to ask you about two thousand and eight for a second because back in two thousand and eight the total global financial system came to the precipice of annihilation but was pulled back when hank paulson went before congress and extorted close to a trillion dollars worth of dollars and what we found out two thousand and eight is

that the world needs dollars because this seven hundred trillion dollars worth of derivatives that are floating around the global banking system are priced in dollars and that any unwinding that happens. is requirement to require dollars to make that happen so there's just a demand for dollars and how do you square that circle john because as long as the situation is teetering on the extension they'll be a demand for dollars to on why the derivatives contracts that are causing the problem yes part of what's keeping dollars as strong now is that debt in dollar terms creates a demand for dollars like you said so people are out there trying to find dollars and borrowing in order to pay off their existing debts but that's one of those things that can keep the game going for a while longer but won't save the dollar in the end because once people lose confidence in a currency the change happens very fast you know historically you know you see a system going on and going on and going to just falling apart you know why more

germany was like two years it's still a hyperinflation that we we remember to this day and yet it was over in the blink of an eye just because people lost confidence in that currency and the same thing will happen to the dollar eventually if this history is any guide but. there they do have tools and there is a system that's which kind of tends towards keeping the dollar going for a while but again it's you know all of this is going to go until it stops and we can't know when that's going to go i mean we we couldn't know the day that the housing bubble was going to burst word be tech stock bubble but it was going to burst but eventually they burst and the same thing will be true of the dollar bubble when it happens who knows but it does feel like it's it's imminent and so the really interesting argument is going to happen at the bottom when everything is falling apart and then you know what we're talking about now we're basically impotent because public opinion doesn't really matter anymore to these guys but at

the bottom it will you know will be able to have an argument about whether to have a constitutionally limited government with some money we're going to have a row and have a you know a strong central government that controls everything and that day. coming and it's going to be a really interesting debate but right now all that's left. is to just watch it all or try to protect our own finances and then be ready at the bottom to try to change all right john a beano and we're out of time thanks so much for being on the kaiser report thanks max all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert all of them i guess john rubino of dollar collapse dot com if you want to send me an e-mail please do so at kaiser report and r t t v dot r u n of course you can follow me on twitter at max kaiser until next time ask either sent by all.

if you're. going to take three. four charges three. three. three. three. three broke video for your media project c.e.o. don carty dot com.

good afternoon and welcome to capital account i'm lauren lyster here in washington d.c. and we are on vacation you see we've been broadcasting since october so that means were a little overdue for a break but in that time and in just the last few months we've interviewed so many amazing guests from jim grant to mark father to jim rickards even joining me as a co-host and we've covered so many topics that are relevant on any given day whether it's the fed or the eurozone crisis so we put together some of our very best and most popular episodes from the last few months for your viewing pleasure and the time while we're off and you can look forward to all the new shows starting september fourth so mark your calendar and don't forget interviews can all be found in their entirety on our you tube channel you tube dot com slash capital account but for now let's get to today's capital account.

all right so according to italian prime minister mario monti we have now a week to save the euro zone that came out in the headlines he said that to a group of european newspaper reporters this is ahead of the e.u. summit planned next week so is this a threat a warning it's hard to tell because it's become a bit of a boy who cried wolf refrain take a look at this last november there were ten days to save the euro oh we don't have those headlines but we got a bunch of them together ok in november there were ten days to save the euro or see it disintegrate in december of last year d s k domenic strauss kahn said there were

three weeks left at one point in may there were only forty eight hours to save the euro according to one newspaper but i guess then george soros bought us a little time because early june remember he said we are just a few weeks into a three month deadline so when and how does the euro either persist or implode exactly well let's talk to gerald celente who specializes in telling it like it is he's founder of trends research institute publisher of the trends journal and he joins us on capital account now and it is so great to see you you're the perfect person to talk to you want to friday to around the week out thanks for being on the show gerald oh it's always a pleasure being on with you you have one of the greatest business shows on t.v. oh you're so sweet thank you well you're one of the best guest to have on a business show on t.v. so i'm dying to know i just went over some headlines over the last year where people officials newspapers commentators have said there is

a week to save the euro there is ten days to save the euro there is three months and to be fair we're still in the middle of george soros is three months prediction so i can't dock i'm there yet because who knows how it's going to turn out but the question to you gerald is is cut through the noise is the euro doomed to implode or is this salvageable or will we just keep see europe muddling along the way it has been. well it's a bigger issue than that it's not the euro and when you mention monti say what he said today or yesterday let's remember who this is this is three card monte so that's about as good as his word it's not the euro it's the whole banking system and the banking system is collapsing worldwide and so the euro is just a part of it will the euros stay together if it's if the there is there is no telling what they may pull out but let's understand the g twenty just was going to have this grand meeting just got back from mexico and all these brilliant leaders

were going to put their minds together and come up with a solution and they don't have any answers and the reason they don't have any answers is there's no solving it so what did they do well you saw yesterday the federal reserve went back into operations was and then read today's headline central banks ease credit as european leaders meet this step friday just as european leaders in rome are preparing to seek agreement on ways to pull europe out of its crippling debt crisis gives banks more possibility to get ready cash let's put that in layman's language it gives the banks the right to rate jump that they have and all this garbage that's weighing them down as credit worthy all they going to continue to do is try to keep pumping money into the system to keep it going it's as simple as that there is no way out is are they going to come up with

a your robe on where they're going to put all the bonds into one package so that these rates don't keep skyrocketing doubtful what they're going to come up with something that's why they always stall it how long will it last it's a guess totally and these programs to turn trash to cash we've seen and it does seem that they're just getting ever more. are creative and ever willing to break whatever rules are on the books in order to institute them so bigger picture and though beyond the banks one trend that that it seems that we see and there were a lot of quips to this effect going into the germany and greece soccer game this afternoon it's this sense that germany is calling the shots and taking control and in control in a way that it hasn't been since world war two and at the end of the day greece is at its mercy and it's about the kleptocrats getting their piece of the pie and i'm curious how you think that's going to play out and if germany can have the kind of

credibility to be this boss of the eurozone or if you think that it will be this kind of economic prison is nigel for russia's called the e.u. well again you know let's listen to a german is complaining about a your robe on this is against the treaties and it's against their constitution the bailouts were against the treaty so you know on that on that angle germany's one hundred percent right and to put all these young worthless bonds in so one package and make everybody pay for it if i was german after them spending why how many trillions to to bring east germany back in and i have reservations too but again lauren it's a much bigger issue let's look what's going on in china their economy is contract just as germany's composite purchasing managers index hit a three year low the same thing in china just this.