record snowfall throughout but even life nobody's allowed to be driving license of emergency vehicles exceptions. well see british science. is no time to. market why not. find out what's really happening to the global economy with mike's cancer a no holds barred look at the global financial headlines tune in to the report on our.

max kaiser this is the kaiser report you know if you show up to a gunfight with a knife chances are you're going to have your guts ripped up shot dead in the street like a dog show up to a currency war with paper like mervyn king or ben bernanke here these other central bank clowns and you'll also be eviscerated gunned down in the street by the gold vigilantes and that's a good thing stacey yes max over the past few weeks we've seen the coming of the showdown at the ok currency corral right you've seen various things you see wanted dead or alive essentially against the u.s. dollar right there in the middle of the poster. yes wasn't dead or alive but i mean that metaphorically of course i would never suggest a special bankers would be gunned down and hunted down like dogs and ripped open

and have their guts pulled up because of their profit ways i would never suggest that now. in this past week leading up to the g twenty we also had the g. seven they were saying denying that there's a currency war that of course you need an official denial in order to confirm that it is true. david cameron was asked by some old codger in prime minister questions time about his experience his old guy had lived through the great depression and he said it looks like with all this quantitative easing that we're actually trying to devalue the pound but so is the yeah and the japanese yen in america they're all devalued their currencies now i lived through the great depression of world war two and that led to how war because it became a trade war then war and here's how david cameron answered. i think what he says is important no one wants to see a string of competitive devaluations always the one happened to sterling. as

a result of the very deep recession here was the depreciation i don't believe that you depreciate your way to growth whatever country you are but what you should do is use the benefit when that and as a structural change to make sure you increase your competitiveness and that is what britain needs to do well financial illiteracy runs through number ten downing street with david cameron you know central banks are caught be serving two masters they're printing trillions of dollars and yan's and pounds at the same time central banks of two thousand and nine every verse a forty year trend or buying massive amounts of gold and these two things are not going to finish together one is going to win one is going to live and the gold market saying the gold market is going to when the bond market now in these countries looks as though it's hit the wall is starting to fall apart and of course he's lying there as if they could take advantage of devaluation everybody is doing it then as well i devalued recently by over thirty percent in the u.k.

the pound has pound sterling has fallen by over ten percent against international currencies and yet their export market is a barely point one percent so it hasn't worked for them they showed up to a global currency war with their feet paper and it hasn't done anything for them right it's not going to work because you can't have any winners and it's like. game with everyone has paper you know they're just all showing paper and of course none of them going going to win except those with a rock winner's case would be not a rock of cocaine like p. diddy with my having this but a rock of gold. so there is the question asked and currency war with the gold standard. this happened on financial times and on bloomberg television they interviewed t.c. w. groups. kumar and bank of new york mellon michael wolff uk they were asked what the

risks from currency war were and how to stop it this week omar said that he thought the gold standard if we brought the gold standard back in would end this currency war and it would be no different to how good it was he said he said it would be as good as it was during one hundred forty five to one nine hundred seventy one we were on an international gold standard post bretton woods the u.s. dollar was backed by gold and international trade and it was good times then he said quote it worked the world was in prosperity there was economic growth and there was clearly certainty in terms of what exchange rates were well we've never been off the gold standard the experiments are citing seventy one of global fia money trading against each other as shelling and going to go back to what was in place for thousands of years ago but i also think it was ninety seventy one when nixon went off the gold standard what it was was the disarming of the population who had to work for a living because you could see that in the charts because i thought well let's look

at these charts again because this guy kumar says that this was a time of prosperity and yet the propaganda you hear from the very workers working population people who have to work for a living they'll tell you we can't go back to a gold standard because that's for the ross child in the rockefeller's in the wealthy in the super super wealthy but look at the stars this is the charcoal back to one thousand nine hundred five and it shows you the blue line is the productivity increase in labor units red is the median household income as you see from exactly one thousand nine hundred seventy one. the median household lost their bargaining power and all the productivity gains went to the top they did not go to workers in fact the median household wage went down once we broke from the gold standard because they we discovered right sense going off the gold standard wealth has been accumulated by floating debt and by leverage the average household will borrow ten times their income to buy a house on a mortgage and the rising asset value from the inflation this is caused will give

the homeowner a sense of net worth appreciation but the average bank strong wasser of the city of london can borrow a thousand times their income and they get paid based on that multi hundred billion trillion dollar leverage that they're floating in the game and over the past twenty or thirty years or forty years as going off the gold standard this is meant hollowing out of the economy to the banks and leaving the poor suckers who can only borrow ten times or income high and dry because the asset values crashed and of course what's happening now is that private equity funds like black rock are buying out all the homeowners in america that went bankrupt during the blast controlled demolition of the economy in two thousand and eight now those people are living like service in their own homes paying rent to black rock black rock of course you know this guy schwartz who runs black rocky's a terrorist he's a financial terrorist and of course he's terrorizing the people in america who are now suffering as

a result so back to this chart here that they lost their power their negotiating power because the parameters were being set by the people who were financial eyes and the economy so these guys own the paper world and you decided let's get rid of gold and all negotiate with these paper pushers and of course you lose now the economist this week actually has a piece calling bankers unique in the world because it's quasi i'm marxism because they literally own the means of production they own. means of printing the paper right there is no unit of labor that has any representation in this economy and i've told people in the u.k. and i've told people in the us people who work for a living people who might be. affiliated with unions like a bill o'reilly or all rush limbaugh or the people like that who are part of unions in america yes. you know they are union members rush limbaugh bill o'reilly if you want to explain you know rush limbaugh and bill o'reilly are very extreme right

wing television host america who spend their entire day condemning union members only to lo and behold it summers and crooks and liars dot com that in fact they are union members and they're telling people breaking the unions right there televangelists in america and they are part of unions that they are decrying their self hating union members now live but they're also like a cop or a or a teacher or municipal worker who are you know part of unions and i've been trying these people for years now to tie your wages to money supply the money supply is up by billions of money supplies up the m two is up ten twenty fifty percent on a percent to nine percent you need to tie your wages to money supply not the fabricated nonsensical scored unquote inflation number that is completely fabricated it has no representation in reality and now here in the u.s. obama is talking about well let's raise the minimum wage which is exactly equivalent to adjusting the monetary policy if the fed can move interest rates up and down for

the half lobby at the baxters and make the economy completely artificial and remove supply and demand remove free market economics and go to a plan centrally controlled economy by adjusting the price of money then the serfs need to be able to adjust the price of their minimum wage those two things with them balance each other out to some degree in this plan centrally planned economy but if the service can't adjust their money their wages tied to money supply then he just sobbed. we have now which is a wholesale confiscation of wealth and aggregation of wealth of the top one percent of the top one percent and everyone else ending up like greece which are down there picking you know she's out of the rat poop to survive so again where have we have a g. twenty meeting going on people are talking about currency war the finance ministers and global heads of state are talking about currency wars certain of these nations are accumulating gold such as russia and china at rapid rate so they watch our show

i mean russia's buying gold are the biggest gold buyer in the world of course this show is played in those countries where the i.q. is high enough to stimulate people to buy gold like russia now one of the biggest banks in the world the depository bank is bank of new york mellon and michael wolff folk was participating in this bloomberg television debate with kumar about the gold standard and here is how bank of new york mellon michael will focus responds he says if we went back to the gold standard you would be looking at a global recession we don't have enough gold and it's not growing fast enough while this is shows i'm a bank amount of course and state street banks are involved in massive pensions scam forex rigging and fraud and there's a man who is represents fraud who is making a fraudulent statement the there's something called price discovery and free market capitalism at the core of the supply demand if there's a high demand the price goes up but he's saying that we manage the supply and

demand we do manage wash trades to manipulate the price of gold and silver we don't believe in free market capitalism we envy they the state of the soviet union these are these people they were they would they would love to live in a centrally planned communist nation where the state is basically controlling every single aspect of their lives that's what this american there are americans in every single american is essential lee play. in egypt screaming to get out meanwhile in moscow they're bracing they're free market they're embracing logic they're buying gold because they're not jackasses like this american pinheads like bill o'reilly and rush limbaugh out for self hating unionist who don't even understand what supply and demand means that's why they're becoming extinct ok for young guns we know that god will wipe out enough plenty of them but they're just going extinct because i just hope it so finally of course you can't have a shootout at the ok currency corral without suburban or whiskey makers mark waters

down as bourbon to me rising demand maker's mark just got a little less stiff the bourbon brand known for its bottles sealed with red wax told customers today that it's reducing the amount of alcohol in the batteries by three percent in order to me rising global demand this is stealth inflation again like the horsemeat scandal in the u.k. so they say their price is a make of their product is going up but they can't pass the price rise to the customer so they're watering down the product and they're trying to justify it by saying that there's a high demand for watering down the product that's that's just that's retarded that's stupid and people don't want to know why the economy is growing why they're why they're suffering because of people who are making these decisions are functional idiots showed up to a gunfight with a knife well stay here with thanks so much for being on the kaiser report thank you states as the second half will be speaking to jan squirrel's of the real asset

company. well. technology innovation all the latest developments from around russia we've. covered. agreed to take three. three. three. three. three. video for your media. free media r t dot com.

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welcome back to the kaiser report imax guys are tried out a charter jam squirrel's of the real asset jad welcome back to the kaiser for thank you for having me all right jazz goals and staying with this week's g seven finance ministers essential bankers insisted they remain committed to exchange rates driven by the market not government policy do you believe i don't particularly believe that and i think what that statement came out from the g. seven was quite confusing for everyone because they basically said that they support people that fight for marriage change rights individually as a as a collective it was hinted that that might not be such a bad idea like they did back in two thousand and nine when the team. twenty but they supported maybe in domestic monetary policy action say we own a there's a currency war going on and we're heading that way devaluation of currencies is happening and whether it's really happening or it's just happening individually the statement can change that fact to where everyone can clearly say so yeah there's

a g. twenty meeting today it seems like the g. twenty meeting coming out of the g. seven meeting you've got the g. seven are the debtors and now they're going to meet with their creditors they're coming up with a plan to me what the creditors the chinas of the russias the world who are financing the the west so to speak what's going to be their plan where i am i think they're going to go in with the same policy because i think they are trying to go in with the united front and japan you know this is all kind of started from this currency wars happening and meanwhile you say you've got the nations of the g. twenty and we've had at least three or four years that they've nation saying that these currencies are being devalued and you know we want to see something being done in the way the and sasha current system is being run is two dollars centric and it's not you know it's not fair on them and you know brazil said a couple of years ago and then i'll bring it back that they'd like to see more. more internationally international system so i think it will be interesting what

happens this weekend but i don't think he's right it's going to come out of it because you know you need to make g seven a too powerful. to really want to change things that the moment yeah it's funny that because they they're saying that talk of a currency war is is damaging and they don't seem to recognize that there is a currency war going on right now so what what are they going to realize that it's not like they're stumbling in a world war one you know one of people kind of posturing and then a shot was fired and there's a world war going on so it seems like we're just waiting for that one moment what do you think will be the trigger for this over currency war to become mob. yes and on impeachable it will be what used to. countries as most fragile i guess you could say maybe japan will only thing well i think part of africa maced interesting one and it's interesting because of the them the americans are very happy it's going japan's economic situation changed quite dramatically in

past couple years you may then are going to import energy so time started to my currencies and south korea are now i would compete with them on exports they say the japanese yen has been quite devalued against that say i think japan could be the turning point is happening all over the world and i don't particularly see a one trick country as it were but i think i think there's a lot of rima left for nations such as america which is expanding their balance sheet he's in the u.k. which has done even better job three hundred fifty percent i think there's still a long long way to go and before like you say we kind of head into the world war of currency wars yeah i mean i listen to david cameron the prime minister's question time ask questions about currency war he doesn't recognise there is a currency war he's just as well as good at the founders down he does recognize the fact of that hasn't helped exports at all and that he believes that the ongoing policies of fiscal policies in the monetary policies are well within the remit of those in government and we're going to see their way through this recession but

nothing he's doing is working but more troubling is this seeming complete financial illiteracy how did they get to be. born loving king king the seas we sounding the warning shots that what's really going on but he's leaving and mark karr is coming in to seemingly to just do it as a former goldman sachs guy to do the bidding of the people who are in this massive denial what i completely agree to is quite interesting article a concrete member i read maybe on bloomberg about how we're now seeing this new generation of central bankers and no i mean we see we see gendercide central bankers were saying this generation aren't quite so. that about being autonomous and independent and the way they're going about things because governments want to have more and more control of the central banks i mean a prime example if you go back to japan and the new government want to have more control over the central bank and they're now looking for a new governor. the current governor who's retiring isn't quite so keen it to be

going down this inflationary rate and to be raising the inflation target so i think it's you know we there's a report which i think we're going to discuss later on which says that the reason governments won't be wanting to go back to sound policies is because it doesn't work in their favor and that's also really what it's come down to you know there's no quick gains to be made when you've got sound monetary policies and the government's there for quick gains and central bank is now being brought to him he can help them you know kind of just prop things up and pretend things are ok for you know until they can find the next thing to make it look like it's ok meanwhile russia seems to be taking the strategy just buying lots of gold the same thing with china yeah and they've said in russia that they don't really believe anything is coming out of the g. these g. countries in terms of defending their paper currencies by just issuing more paper so they could potentially be a big winner in all this what are your thoughts on russia oh i think russia's very interesting you know they're talking about changing the you know bandaging the petro dollar is that where russia is imported small gold china which i think was

a surprise and everyone saw the numbers come out earlier this week and i think we've we've talked about you know these these. countries forming a parallel currency and if there's gold backing and they've got gold as large cents there is certainly. a lot of confidence in these these badly managed paper currencies in the western world and i think you know i've talked about this before in a paper or a university saying that we really need to gold is going to be gradual it's not going to be sudden announcement from a government say we're now going into gold standard but i see this happening with these crowds nations who are importing gold are able to. pup their currencies with this large amount of gold ok. most of currency war the official monetary financial institutions form the zero zero zero. they've released a report on the internationalization of the on big they say gold will play

a vital role so tell us about this report and they say ok a vital role but you know this isn't exactly a suggestion to go be reminded ties or will them with the gold standard they talk about china and the r. and b. they want to become an international reserve currency and socially trade currency and they go through the process by which this happen a they have to have to happen over quite a few years you need this capital controls going on and you know amongst everything else and whilst this is happening and is the r. and b. game sort of international status and becomes a more widely exchanged currency and then gold because it represents quite a significant part of china's dealings will become raise itself more to the fore and makes the point that i knew were says to gold and assets it doesn't refer to as a currency or a money you know a money issue assets and it talks about its pros and its cons in terms of you know it's a good hedge against inflation. currents was nothing but it doesn't see a role for it on the next. standard as it were the next currency standard that we

moving on to just see as big a role for china so it is significant but when you read reports of this report statements on it saying it took about three minutes of gold it's not talking you know like selleck was back in two thousand and nineteen thousand and ten about becoming part of the basket of currencies or anything like that it's just saying that we can't ignore gold china come to the fore with their currency and you know you have to acknowledge that east asia which once was a huge trading and economic power you know several hundred years ago that's happening again and we need to we have to acknowledge that gold will play a significant role from a personal point of view everything that's happening. you know whether it's the chinese currency. increasing in its prominence on the international stage or whether we talk about currency wars and devaluation paper currencies or fiscal policy most closely you cannot ignore thousands of years of gold being used as an international money it's a faceless currency and say i found this report always quite disappointing in that

whilst it does spend quite a bit of time on gold seeking some conclusion it doesn't acknowledge that the gold standard gold will have a prominent role in the international system on a permanent basis i didn't say is that in a transition basis one of the individuals out there who are buying gold and silver . there seems to be a merit the silver eagles in the us are being sold out people are buying gold or buying so are they going to be buying this idea that the paper can be solved as much more paper there's a lot of buying interest in the individual market but yeah this is interesting because you know i'm getting a lot of questions remain about what's happening with gold and the price is kind of plateaued we are in this kind of consolidation phase and it's very easy to quickly point in this individual buying that is going on you know the american sea so regal's is fascinating we're seeing quite a bit every year these say these cash for gold shops a kind of you know they're sort of popping up again and this demand to hold individual currencies name personally you know in our company we're saying people

are asking more questions about what's going on and how they can protect themselves that cannot be ignored but what that shift how significant a shift has to be in these western countries for governments to pay attention i really don't know because like you say these cameron and osborne in new york mark carney and you know ben bernanke they don't want to pay attention to this and the one trillion dollar platinum coin that came up people weren't really looking back i say well that means that their own precious metals that wasn't you know what it was particular about either so they completely missed saying i mis understanding the role the press can do and how people are putting their faith into them the trillion dollar platinum coin idea was to create a bogus. platinum coin with that one a gram of platinum in it but say that is worth a trillion dollars and a swap that for a trillion dollars and free up money to keep from going over the debt ceiling the fact as you point out that is that yes platinum and gold and silver mentioned in the founding documents united states and referred to and used as money and maybe

that might be a solution and getting away from paper they day that was never an issue in the conversation right now that you've a kind of nice of you saw them talk about it and you're like yeah you need a bag you need you there and then you sort of. you've got this is just completely in mess they they can understand and what we've just said before it's everything is just a quick solution is how they're going to get things done and it's just you know how can we do this and we can carry on doing what we're doing in the first place and you know you say it's in the constitution that they should be having this and i've been spending a bit of time it's boring to sound like no other countries constitutions and it's not just the u.s. this say that you know this country should be minting gold and silver coins and last week am i right so we don't think of the trial of the pigs where it was the time old trial that happens in the u.k. where as if the mean is found to be based on the currency then the main switch i believe in this country chant through the exchequer can be hung drawn and quartered it and perhaps this is maybe something that when they're coming up with ridiculous ideas i want trillion platinum coins we could maybe hold back up the constitution

they're not always in the u.k. we have a concession then you know that something we they would maybe suggest were sensible policies which i. believe ran a quarter trillion dollars extract i think just for the royal family. well you know we're big fans of this type of thing of the of capital punishment for crimes against capital well why not thanks so much for being on the kaiser report thank you all right and that's going to do it for this edition of the kaiser report with me max keiser and stacy herbert i want to thank my guest jan squirrel's of the real company if you'd like to contact us you can e-mail us at kaiser report r t t v dot are you were. kaiser report so i guess i'm asking. you to. potentially deadly blizzard taking aim for the northeast it's expected to hit stunning in

a few hours from new york to maine we have team coverage of the storm. but what we're watching is the very heavy snow moving into boston proper earlier today it was very sticky you can see it start to become much more powdery down the line there's still a lot of snow out here a good place for snowball fight. jason it is kind of pretty incredible day there and even record snowfall throughout much of it might still be slog through drug listens to the emergency vehicles exceptions.