welcome to the kaiser report on max kaiser engine pan victims of the tsunami and subsequent fukushima atomic meltdown every saved two hundred fifty thousand dollars worth of gold bars from a mystery benefactor in the u.k. victims of the tsunami of bad debt and the subsequent global thermo derivative meltdown are receiving tens of mystery meat suzanne salami for example according to the guardian newspaper is a mother of three and packer who survives on thirty pounds per weight and so has no alternative but to visit the food bank where she is given ten cans of mystery meat to feed her family suzanne salami told the guardian quote when he can't afford to buy anything to eat or ask where it comes from it's not fair suzanne salami let me

introduce you to your mystery meat companions gwen and lady. yeah i'm suzanne salami nothing tastes better on a glenn and lady burger than a little insider trading catcher stacey. max kaiser before we go further into suzanne salami that's her real name talking about the mystery meat given to her at these food banks let's talk about the slaughter of gwen and lady a warning ignored in october two thousand and eight emma hitchcock said farewell to her beloved horses when lady she had agreed to lend them to a woman who could offer them a limited pastor for a while hitchcock was sent pictures of her two horses grazing contentedly she now knows that within two weeks they had been sent to a slaughter house and exported to europe for food ok so the woman was getting photos of the horses that she sent off to some kind of horsey la la land or retirement horsey land and they were not turn into glue like during victorian times

but they were turned into findus lasagna and other derivative horsey meat products here in the u.k. that people were galloping to tesco to coopt down and she lived with them however their virtual counterparts in a virtual reality i guess the point here were making is that similar in the financial realm people are told they own bonds but there really bonds are riveted so in the bonds blow up or the stocks blow up they're left holding the bag because they were sold a bag of worms or a derivative or a photo of a bond or for a collateralized debt obligation or an index that's supposed to represent some kind of equity but then magically it disappears because the actual equity was forced into the crushing machine and the meat lasagna of perpetrator and machine that ends up in the pockets of people like warren buffett and everyone else does end up with nothing just photos of what it was that they thought they had but doesn't exist

anymore there it's all that virtual reality now that people are left with while they're forced to eat either derivatives the. no value when errantly or meat that's really made from horse or rat or a pig or whatever they find in the gutter well in fact we know from the hurricane that hit new york recently and flooded it that many bonds washed away all the bonds held at the d.c.c. were washed away so it was sent out for slaughter but the other thing that it reminds me of is that all these photo ops we've been having of our gold that we allegedly hold and the last year we have photo opportunity after photo opportunity with the queen timothy geitner they keep on saying look this is our gold and in fact this week as well we've also been sent more photos of our alleged gold gold at new york fed is intact some purer than thought audit finds the u.s. government's golden new york is safe in a vault underneath manhattan and some of the precious metal there is purer than previously thought that's according to

a first ever audit conducted last year by the treasury department of u.s. gold on deposit at federal reserve banks in new york and elsewhere the audit done of the of the bank does not include gold has been leased out so it's an incomplete audit they took a photo of some gold and they say the gold is here and it's somehow purer than the then we thought it was however it's not there because they leased it out or they sold it we know this from tracking the flow of gold and silver and precious metals around the world right now that the buyers of gold versus the gold available on the market lead to one inescapable conclusion central banks are selling their gold and so that's a lie so only the new york said puts out that report they're lying shamelessly and of course that's the spawning ground for people like tim geithner and others who have become so endemic to this campaign of global fraud that destroyed the global

economy well we're seeing in these currency wars the likes of germany the netherlands. austria looking to have the gold repatriated because they have loaned their gold to america they have it on deposit they are the new york fed but like emma hitchcock's here who her horses gwen and lady were actually sent out for slaughter the gold of germany was probably sent out for slaughter it's been turned into little bits of jewelry all around the world and it's not coming back germany is not going to get their gold back they have been given a low down saying we'll give it some of your gold back over seventy years but german people should understand that that that goal is gone their sovereignty in terms of the integrity of that nation has been destroyed by geithner another new york fed heads who have leased the gold out sold to gold this is this is not in debate it's clear if you look at the flow of the metals and you look at the markets geitner lightening junk german goal now is that is that the basis for starting

a war well they have this called a currency war and then that will morph into a hot war it was started geitner so this is the other thing as we've noted before this globalization is falling apart and part of it is the trust is falling apart people can no longer trust what is in their food of course nestle the world's biggest manufacturer of food is now also withdrawing their products because of course meats governing that so of course underlying all of this is the u.s. and the u.s. dollar and that's why they're also saying you know as part of the audit the treasury tested a sample of the government's thirty four thousand and twenty one gold bars in the new york fed vault five stories below the manhattan's financial district and three of the three hundred sixty seven tests the gold was more pure than the treasury records had indicated so they've increased the value they say because of this of their holdings again is weird that they're testing food products that we find out

that is a lot less pure than we ever thought here it's actually purer than we thought they say yeah. the us dollar is like this horsemeat that's circulating the globe and fact is that the u.s. dollar will eventually become worthless because it's back to some degree by workers in america whose tax revenue is are the backing the us dollar there's the tax revenue the american people and the us military that's what backs the us dollar tax revenue in america is crashing wages are crashing people can't afford big donalds anymore people can't afford to go to walmart anymore food stamps are soaring and then of course the inflation coming to the energy complex including gasoline is going to help going to hurt the u.s. military because they buy two hundred fifty million dollars worth of gas every day to fund the pentagon's war machine when the price of gas continues to go up as it is hitting a record prices in california and other states the pentagon won't be able to afford to fill up their gas their tanks and their other vehicles of destruction so it's

a double edged sword so that dollar is going to zero and gold is going much higher germany will ask for their gold and they'll be given a receipt for worthless dollars or a horsemeat burger from findus so just like the global financial derivatives hurt the poorest the worst in the middle class the people that have to work for a living just like all the risk in the toxins were dumped into their pension funds what meager pension funds there were because of course most ordinary people are the sort that could be slaughtered not sheared you don't bother shearing them you just slaughter them right horsemeat scandal mystery me at the food bank close to foodies paradise so this is where suzanne salami was getting her tins of food was right next to the borough market which is selling you know be fat forty pounds a key low so here is one class of people who could have some real food who can have real wealth who can have real money who could have real homes everybody else is very precarious and as she says i'm being made to eat stuff i don't know about and

i'm being let down it's like we're being told. and shut up and you can compare this to the financial markets as well. absolutely you've got a perfect illustration of this two class society of serfs who can't afford decent food and are becoming either obese or starving to death versus those like the warren buffet for example who gamed the system trade on inside information manipulate the markets who are making the economy in the us less competitive by monopolizing and taking companies off the market and of course he doesn't have a problem sourcing beef or food but everyone that he's destroying with his predatory monopolist behavior insider trading and market manipulation they can't get a decent hamburger anymore and he's laughing all the way to wherever he goes to get is a strange thing and then you know as you mentioned the food stamp uses there's increasing rapidly in america and despite this here you see the inflation in the fact that

even though people are receiving more food stamps they're unable to even shop at wal-mart a scary reality about wal-mart's customers they're broke so as we know what more shares plunged on friday went last friday when an internal e-mail was leaked in which cameron geiger a v.p. at the company asked where are all the customers and where is their money so they don't even have enough money to shop at wal-mart which is already selling all this mystery meat product where do they go from there if they can even afford mystery meat what wal-mart was always been a poisoned chalice as we've talked about for years for every dollar somebody saved at wal-mart they lose two dollars in wages eventually they won't be able to even afford to shop at wal-mart so they've they've boxed themselves into a non unproductive disenfranchisement or in slaven or serfdom to somebody called wal-mart who if you add all their wealth together the wal-mart family it's the wealthiest family in america they got wealthy by imposing

a neo feudalism in america and now these people are finally waking up to the fact that hey you know what. we're now entering the prison industrial complex as cards in the prison machine because walmart screwed us badly and then finally us homeowners are repeating their mistakes so these are the chumps in america that still have a few little pennies left to their name and if there's one thing americans should have learned from the recession it's the importance of diversifying risk middle class households had too much of their net worth tied up in their homes and were too exposed to stocks through four zero one case and other investments so this study looked at the holdings of americans and three quarters of their wealth in only stocks in their houses and they consider this very high risk this is considered very high risk these people are lined up to be slaughtered not cheered well alan greenspan said just recently that he doesn't look at he does look at wages he only looks at the stock market to determine whether or not the policies of the fed are successful or not so what he's saying is that everyone in america is

a gamble all everyone has their own personal hedge fund everyone deserves to have their net worth stolen it periodically from the likes of warren buffett and others and that's just tough luck the idea of having a job that creates savings or creates capital that creates free markets. responded saying we don't like that anymore we just want to say no but if you look at the charts that they provide here in one thousand nine hundred three americans the average american had a more diversified portfolio including business equity and castres a large part of their holdings eighty three it shoots up to now this park area situation there and of course exactly when alan greenspan arrived exactly when c.m. d.c. arrived to propagandize these people and brainwash them into thinking they should concentrate their wealth in the stock market where it could be slaughtered by the like you lend out your money you lease it to the bankers who are going to return it to you even healthier and better than before of course that doesn't happen and they

say houses make up a smaller share of the wealth of a rich family the wealthy also benefit from better financial advice. yes well the sacred cows have become the horsey find us burgers haven't they stating our thanks so much for being on the kaiser report thank you all right stay tuned for the second half i'll be speaking to h. boss whistleblower paul are more. mission free could you take three days for charges free to make amends three. three stooges free. download free broadcast quality video for your media projects a free video don carty dot com. will do the trick to the finish as a world class athletes to sit down sochi brand new olympic venues are kept safe by

high tech sensors behind the scenes congestion battling infrastructure digs deep and builds hard to get thousands where they need to be it's building bluebook fueled by clean energy while researchers preclude life into gold medal dreams the race is all going to be our day here on. the central. let me let me hear one wouldn't let me ask you a question. here on this network as we're having the debate we have our knives out. to bring you the story we're just back staying there again here in the situation will be an itinerary to talk about the name and we.

welcome back to the kaiser report i'm max kaiser time now to turn to pall mall. or a former risk regulator who blew the whistle on h. boss and is now trying to fix the financial world making it a safer place for the taxpayer paul more welcome back to the kaiser report here good to be back where you max excellent paul moore the f.s.a. isn't is this time the food standards agency for failing to actually regulate food standards there's a remarkable similarity to the failure of the financial services authority the other f.s.a. and that was so blowers were ignored and ignorance fayned on the fraud being made public your thoughts on both these f.s.a. scandals how stupid can you be to commit yourself the f.s.a. twice i mean that causes confusion in the first place and the other thing i noticed was that. the politicians say them throw the full force of the law against the horse holst meat corrupt people but they couldn't be bothered to do it when it came

to the actual biggest thing which was the financial crisis so it just proves that ultimately the people with the money can protect themselves from virtually anything people understand that eating dodgy meat that's unregulated has potential to harm them and it's of course fraud but people don't understand that eating dodgy securities eating a dodgy bell out or collateralized debt obligation does that they have the perception that it's a victimless crime you hear that phrase all the time but that's not true it's a part not a troll i said this last time i was on united nations estimated that the financial crisis drove a hundred million people back into abject poverty loss of people down when they're in abject poverty and i've estimated that the financial crisis is probably killed more people than any conflict since the second world war so it's not victim less

than even those people who don't die become. miserable paul more let's talk about costs for a second because clearly in the food area trying to re-introduce integrity into the food chain means costs are going to go up and go up pretty dramatically similarly in the financial sector we all assume there the argument made that well we are deregulating is a con amazin the banking system because we're going to save you money by making access to capital cheaper and they is this cost argument but in both cases costs are rising the cost of food is going up and of course all the money is to paper over the crimes in the financial system are now resulting inflation around the world energy and food and other areas exactly going back to the to the horsemeat scandal so that idea of a cheaper more efficient system is completely false as well paul correct the reality is the cost of the financial crisis is out way i don't know the exact

statistics but decades worth of tax. actually didn't so the from let me just say something the way the corporate system work is so corrupt that there is now absolutely clear evidence that the people who end up at the top of the boardrooms have three times the psychopathic actually boot of the standard individual in society in other words we put people in charge of learn society in poor an organization whether they be food companies supermarkets financial sector organizations banks or what have you look at the nicknames right. you've got the gorilla that was dick fuld and lehmann brothers the knife was the name of the chief executive of morgan stanley alf was the nickname of the chief executive of credit suisse that stands for arrogant little i don't know where you have to put

that on your on your program the system is rotten. there is something broken in the state of denmark and there's quite a few things we need to do but we can't do them because the vested interest is run by the people with money so we're in a lucky muddle for more let's talk about the intersection between food prices financial fraud and psychopaths and i want to talk about barclays bank for a second. they were caught rigging law library where they were they have been caught and involved in a number of financial scandals they recently came out and said that they're going to step away from speculating in the agricultural commodities business as are a few other banks because now it's become clear that the psychopathic banker they describe which is endemic in the system goes out there and they drive the price of food to astronomical eyes even though it means poverty widespread poverty or

triggered a revolution as we saw in egypt so here you have an intersection between agricultural speculation the food chain of the food costs and psychopathic bankers they all seem to come together in the agriculture business paul murray come together in a whole business is the love of money is the root of all evil always has to be and yes i think there's increasing evidence of manipulation of the agricultural commodity markets i think there's increasing evidence of manipulation of the oil markets it doesn't really matter what you what your operating and what we need to do is we need to recognise that company law that's the way these big companies work and the duties that directors have was not to designed for companies with balance sheets the size of sovereign governments and more power than most of them we need the big companies to make sure that direct to include public duties because they

have such a big societal impact we need to do a whole range. other things but that's the heart of the thing by the way adam smith when he read the wealth of nations he was very strong on the idea of conscience being part of a free capitalist world and they they talk about him as if he sort of said oh you can do anything you like the truth of the matter is the spirit is willing but the flesh is weak and therefore you do need to have constraints on human nature where if money is the so measure of everything we end up exploiting others as we satisfy our own greed destroying our planet by over consuming and also actually destroying what life's about what is life about it. let's ask mark carney who's the incoming bank of england. governor they this important question because george soros

has come out in the said that the u.k. pound along with the japanese yen are incredibly overvalued he points to the u.k. having debt to g.d.p. inclusive of private debt and household debt and government debt of close to nine hundred percent debt to g.d.p. the pound is under attack and mark carney is being parachuted in presumably to what they say change the definition of inflation or to raise the inflation expectations so the meaning of life for mark carney apparently coming in is to get that money flowing even more spectacularly as it is now which would degrade life in the u.k. to to a greater degree isn't mark carney the poster child for a banking psychopath whether he's got a job that is doable i very much doubt and the whole system is set i mean heaven on earth oh we've got to repay this debt i've got no idea ok let's move on to a couple of solutions are you mention or things should be looked at more closely

one is courses prop trading or proprietary trading give us a two. second definition of prop trading and then why you think it should be banned proprietary trading is a manipulation of the markets through a dominant position in information often generated through conflicts of interests a dominant position in mathematics and the dominant position in computer science ordinary people can't deal in the marketplace in any any sensible way in competition with proprietary traders proprietary trading is not banking it's got nothing to do with banking it shouldn't be allowed and going back to adam smith in his day of course if he were. able to write about proprietary trading he would point out that it's a complete violation of all the basic tenets of capitalism and they would outlaw it or suggest it be outlawed instantaneously far more are additional you're talking about full reserve banking of course this would imply that instead of

a ten percent or less reserve and loans being. kind of made out to this level we're at the central banks end up with less than two percent equity to the loans outstanding for example full reserve of course would reverse the talk a little bit about it well obviously ninety seven percent of the money supply is created through the creation of credit by ordinary commercial banks so ninety percent one hundred percent of our money. is debt now full reserve banking creates a completely new way of doing things your current account right. they can't lend money in your current account so they can never be a run on a bank any other money that you want to say if you make the decision as to what level of risk you want to take with that money so you might want high risk loads medium risk loans or no no risk loans it's a brand new way of thinking about things it removes the level of encourage mint to

debt in society and it will have a. major impact it's also along with peer to peer lending we choose another way of getting rid of the banks. issue credit in order to make money for themselves right peer to peer lending very active here in the u.k. and elsewhere as a way to do it and run around the entrenched older ga play that is the banking system but paul or event in the banking sector you better regulated or you know quite well that it's almost impossible for people to start new banks in the u.k. is it wouldn't it be as easy for if if george osborne and david cameron were truly interested in getting some economic growth in the u.k. what in the first order of business be allowing for five or ten new banks to be created to compete with the four major entrenched old gaap list that have destroyed this country and are destroying this country paul yeah i think that would be very helpful but i think encouraging and looking thoroughly into full reserve banking

and looking thoroughly and supporting peer to peer lending will break that only go believe that you refer to of these huge banks that have not demonstrated that look at barclays what do they do they got themselves into trouble said they recreate it said david wolfe a their city manager in a very nice guy to be the chairman they then recruited heck to sense the x. regulator to be the head of global compliance and pain three million quid a year goodness gracious me you've got a failed regulates and a failed he's in charge of corporate governance and now antony jenkins says they going to do all sorts of things completely different will anybody really believe them i would like personally to be going in there and having a really good rummage around and check that they're actually doing what they're saying because until somebody independent goes in nobody will believe them right

after sasson a compliance guy of barclays he's the guy you bribed the loudest i remember from my days i was straight is to comply. this guy gets the biggest christmas bribe every year anyway paul more out of time thanks so much for being on the kaiser report. and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank our guest paul are more of the h. boss was a blower if you'd like to contact us or you can e-mail us at kaiser reported r t t v dot are you are tweeting is a kaiser report until next time like i was and. you know 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 that everything you thought you knew you don't know i'm charged welcome to the big picture.

a 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 patrie down the bottom line there is still a lot of snow out here a good place for snowball fight. piece and it is been a pretty incredible day there and record snowfall throughout what's been like

bilbies like three drugs listens to the urgency fear exceptions.