more news today. flared up. saying these are the images the world has been seeing from the streets of canada. corporations are relieved a. cool.

welcome to the kaiser report imax kaiser last week the chinese government admitted for the first time that so-called cancer villages exist as decades of pollution take their toll on the health of chinese citizens so far the u.s. u.k. german swiss italian spanish and french governments have yet to admit that so-called cancer markets exist as decades of toxic fraudulent derivatives take their toll on the wealth of global citizens in iran last week for bankers sentenced to death for bank fraud after they forged documents and legibly used to secure loans telling two point six billion dollars to buy state owned enterprises meanwhile in australia a temp agency jokes in an ad to kill existing workers and replace them with temps who can also be killed when no longer needed

a new thought joking about killing banks hers was going too far ha ha ha the jokes on you worker peasant sucker stacey yes maxwell why do we take a little look at a clip of that ad where they just offer any worker who is inconvenient and they actually come to the point where they say let's just do it on an hourly basis hi i'm going to be the c.e.o. of one chief i'm so confident and have people from stepping down and. the. plight. of george. i'm the c.e.o. one should. move for one yes demand too many rights exhibit any sort of human quality like if they get tired they do know that if they if they're tired after lunch just get rid of them and i like the a comparison to how the temp agency can joke about killing workers but if you talk

about banks are being killed for fraud or terrorism or money laundering or if iran does the understandable thing and killing bank stirrers or china recently accounts of banks are suddenly all that's to being terrible that's taboo they can't kill the banks it's an example of stockholm syndrome people being held captive by banks fall in love with their hostage takers the banks but making jokes about themselves getting murder oh that's hilarious pup was speaking to stockholm syndrome and falling in love with their captive in japan they often fall in love with blow up dolls right because they don't have any human emotions and they're very simple they don't demand anything they just perform a function for you and i think that's where our friend michelle luck has gone with this headline robots don't commit suicide and all their robot advantages robots don't eat drink demand coffee breaks or protest working conditions and they certainly don't commit suicide so misha saying that this is

a good thing that the c.e.o. terry foxconn in china which produces most of this i phones and many other electronic products is replacing a lot of the workers there's a freeze now on hiring because he's replacing them with a million robots this is not going to help the worker situation and those who vilify workers vilify unions in america particular but glorify the central bank are really setting themselves up for a total societal breakdown if you're going to have a central bank then you need the workers' pay tied to the money supply and that that's the way to get around this conundrum don't replace the. workers with robots but what will happen is that the central bank will be replacing the robot and that robot will be set to stun and kill more than it already is well mission goes on to say get rid of a million workers replace them with a million robots and you get rid of a million complaints about working conditions as well as unwanted high profile work

related suicides and i think this is something we see throughout the economy we have become hyper focused on just these numbers and that the annoyance the nuisance always in many of the arguments is people get in the way you know they have babies you know women give birth to a child who needs health care for their entire lives so it throws a spanner into the works of health care we have people who get into fights fall in love have wars all sorts of things get in the way so his argument could be extended to the entire situation like ok you mentioned the cancer villages in china well robots don't get cancer either so what about all these pesky humans that keep on complaining about their children getting cancer because of all the toxic dump into them into the river or the lake nearby well let's just get rid of the humans because if we got rid of the humans and all those pesky problems and toilet breaks and food and hunger and all that stuff we would have amazing efficiency amazing

g.d.p. growth they economy would be booming we already see it on wall street and in the city of london where they have high frequency trading these are robots algorithmic trading a robots and they are set to steal money and then when lloyd blankfein or jamie diamond or hester here in the u.k. is caught stealing money they simply say was it me was the robot so that's their defense and they get away with it or they try to go to a jury trial the jury is so stupid because they've been fed drugs and g.m.o. saves that they don't know how to render a verdict so they get off for that but just killing workers by the millions and replacing them with the robots has a very kind of genocidal feel to it and anyone who's been out. that is pro genocide you know the fact is as we've covered andy grove the co-founder of intel he was saying that it's on the factory floor where innovation happens you can't teach innovation and therefore you certainly cannot program innovation so if we had had

mission is you know dream future but imagine it has been set back to somebody just sent me a photo a five megabyte computer with a hard drive and you still have to be airlifted in the computer was so big i mean what if we had just replace humans with those computers and that's the extent of innovation that ever happened. and all their. demands and needs and bathroom breaks and lunch breaks that is what creates innovation is the problem is that the money has dried up so you have something like lord of the flies happening on a global basis a global scale is that those who have a few shekels to rub together are now doing their best to kill off everybody else and till such time as the money starts to flow again the credit starts to flow again but that won't happen for another ten or twenty years you know the fact is also many of the people in the comments for there were saying well this is great if we you know we can't fight technology and if we get all we place by these robots

you know we could just sit around and they'll create all sorts of abundance for us discounting the fact that yet again the stubborn quality of nature is that there is a limit to resources there is always going to be a stubborn little thing to get in the way of technological growth plus the robots of course are protected with intellectual property laws and that's an illegal monopoly under any free enterprise system so that's remissions argument breaks down again is that he's promoting monopoly intellectual property perpetual copyright and patent laws which are completely anathema to free markets and competition well robots may not commit suicide but they certainly do commit murder killer robots must be stopped say campaigners autonomous weapons which could be ready within a decade pose grave risks to international law claim activists these are an activist group called stop the killer robots and they say that right now robots.

or the next step from unmanned drones and are already being worked on by scientists and will be available within the decade said dr knoll sharkey a leading robotics in artificial intelligence expert professor at sheffield university he believes that development of the weapons is taking place in an effective lee unregulated environment with little attention being paid to moral implications and international law see again it's these pesky geneva conventions because people have these pesky notions of like human rights well the robots don't understand human rights right at the next nuremberg trial everybody on trial will get off because they'll simply say the robots did it wrong we don't know we all those people died we the robots they got a brain of them so they decided to kill everybody we don't know what happened but we took all the money would you call the property we got rich but that was just a collateral damage no idea what really happened the watch it before it can hang us exactly you know speaking nuremberg trials you would interrogate the person and

question how their motives and what they what their motives were behind this of course as you mentioned there's copyright proprietary trading information so you're not allowed to look at the algorithm of these robots and and what how what the algorithm said and who to kill the wall street banks to steal money through high frequency trading by co-locating computers next the exchanges siphoning off gas say you can't prosecute us because the technology by which we still money is proprietary has protected under copyright law and go back to this piece about killer robots dr no sarky says quote this is going to be big big money but actually there is no transparency no legal process the laws of war allow for rights of surrender for prisoner of war rights for a human face to take judgments on collateral damage humans are thinking sentience beings if a robot goes wrong who is accountable certainly not the robot right and the robots are evolving which is something that and let's say christian extremist america they don't believe in evolution but they're going to be wiped out by an evolving class

of robots well i'd. i don't think they will because i think innovation will then stop will have these non suicidal homicidal robots running the world we won't advance to anywhere past this because they're not they don't have the sentience human wants and desires i think is desire want to needs that makes innovation happen they don't have any needs but what they're programmed for well if the white puff of smoke at the vatican goes up and they open the doors and the cardinals elect a robot to be the next pope well that's exactly where old ok. well that's exactly where this is going because of course a robo pope would have none of these human flaws that's right he would be able to keep his waning in his wing way it would truly be infallible that's right maybe this is the second coming. that's really is the. i'm talking about what they said in the bible. so finally speaking of robots s.e.c. wins asset freeze after hinds traders fail to appear a u.s.

judge frozen goldman sachs accounts that regulators say was used to make suspicious trades in a stay heinz company after unknown traders failed to appear in court to defend their claims to assets this defendant who failed to show up in court it could've just been an algorithm it's my argument it was known a certain unknown traders in the securities of a state heinz and company and so basically they bought some options a large amount of ninety thousand dollars which rose by two thousand percent with this insider trading information and to up to one point eight million from their ninety thousand dollars bassman but a clear case of insider trading they just didn't pick up the money that they made but they can always make it back to him some other insider trading no prosecutions no laws against it anymore it's just open season for fraud yeah and of course these algorithms the f.c.c. was able to spot an unusual blip in this trading activity because even for several days beforehand there were zero options traded on heinz and then suddenly ninety

thousand dollars worth at forty cents were bought so you know we saw the same thing before nine eleven yes a lot of insider trading around nine eleven the buzz across the guard and the cia and it was in the nine eleven report it's clear case of insider trading but nobody bothered to investigate because it would implicate the algorithmic trading of wall street that is key to the survival of the robot nation called america city of london frankfurt thanks so much stacey ever for being on the kaiser report thank you max all right stay tuned for the second half we'll be speaking to dominic frisby author comedian and gold bugs. well. technology innovation all the developments from around russia we've got the future covered.

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 realized everything you thought you knew you don't know i'm tom harpur welcome to the big picture. let me let me hear one wouldn't let me ask you a point. here on this network because we're having a debate we have a nice sound. but if you disagree with us about staying there again here it is great. to talk about your name and we.

welcome back to the kaiser report imax guys are time now to turn to dominic frisby author comedian and resident gold at money week dominic welcome back to the kaiser report thank you very much for having me back my eyes dominic as i said you are a gold bug now everybody is talking about these so-called death crossed what is this technical indicator and does it matter well what the desk rossi's does also has a death cross is that going to go you have the two hundred day moving average the fifty day moving average which is the average price of gold over the last fifty days or gold of the. two hundred days and when the fifty day moving average crosses down through the two hundred day moving average you have

a death cross and that is supposed to be a bearish signal and when you have when the fifty day moving average crosses through the two hundred moving average and the prices above that that is what's known as a golden cross and that's seen as a buy signal but in my opinion it's a liking indicator it sometimes helps you identify trade trends but if you go bug i wouldn't worry too much about it i've spent many long nights staring at the gold price in the gold charts in the early hours of the morning when perhaps i should be watching something else but i was looking at the go price and i've bought test tested it and it's not really fat suspect it's a technical to yes out not only answer as thing death cross and the geeks and nerds of farts act the analysis to make believe that there involves some drama when in fact it's nothing less going out on a piece of paper the fundamental case for gold has never been stronger central banks are buying gold by the hundreds of tons the repatriation of gold by countries of germany now showing distrust among central banks take any money printing by

central banks mark carney being parachuted into the u.k. to print money what do you think of marconi coming in here can reason he has got the job is the tories want to engineer some kind of boom in time for the next election so that they get have the best chance of being reelected and i mean i just think that's awful that it will be an artificial boom it will be essentially central bank created boom and he is one of the most inflation a central bank is out there and that's why he's got the gig ok now it is there is a political agenda that most going back to thirty years going back to the reagan factor bill most of the eighty's this idea of pumping money into the economy has resulted in some g.d.p. growth but over the past over that period of thirty years for every dollar of debt that you're pumping into the economy you're getting less and less of a g.d.p. boom now looks as though that trick. of flooding the economy of debt is not working anymore so it's like the economy is a corpse you're transfusing blood into the corpse but you end up with why you have

around the world now darby economies it is a truck going to work this time and if it doesn't work this time is that really going to portend a very sharp consequence nobody knows and i mean you're absolutely right it creates zombies in my opinion it creates the wrong sort of growth imo for the growth in ideas growth and efficiency that kind of thing but as you say they are merely pumping blood into the zone b. and it takes more and more blood to get the zombie to move. is it going to end in some kind of inflationary collapse or disaster i doubt it i just think it will end in in more stagnation the great thing about this monetary system that we have is that it benefits those closest to its issuance those close to monies issuance at the expense of everyone else so i think you'll see the middle class get squeezed even further you'll see the gap between the very rich and the very poor get even larger the very rich that kind of two or three percent right at the top who are closest to money's issuance those who are holding onto assets such as central

london property or onto that kind of thing they will benefit and everyone else will sink further and further into debt and anger what about this idea that david cameron seems to be financially illiterate he was a matching announcer comments recently that there's been a reduction in the u.k. debt and of course that's false that the debt under cameron's up sixty percent he was referring to the deficit but even that is also not contracting what is it is it just they did it was absent that day even when they covered financial transfers well i don't know if he turned up that day or maybe you know he wasn't concentrating in his economic class if indeed he did economic city but the it's surprising how few people are able to distinguish between deficits and debts and they actually did some kind of. a couple of years ago and a worryingly small proportion of politicians were able to distinguish between the two and i think

a few weeks ago somebody actually had to sit down with cameron and explain to him what the difference is between debt and deficit and but to be fair to the tories they weren't targeting lessening the debt they were targeting lessening the deficit and to certain extent they've succeeded in doing that but at the only cost of greater taxes and so on and so all right so the deficit the government's running at the end of the year they just that they can't pay off they dump into the debt absolutely that's vastly different yeah well you know there's still i don't even know the deficit is but at the end of the money the deficit is the difference between what they take in and what gets paid out and they're paying out significantly more than they take in and so the difference leads to case what actor would take say are tax ravenous tax raising awareness parking fines right ok a lot of much most of it is this tack tax tax revenues revenue yes them minimum big also some of the deficit is covered through the debasement of currency ok but when the

minimum wage jobs in the u.k. are expanding like my dollars just expanded higher twenty five hundred people a minimum wage the amount of tax that comes off a minimum wage job it's not enough to pay down these debts in other words if donald hired a million british people or five million british people the amount of money would cost to just keep those people going to their jobs paying their transport cost paying their to cost bang their heating bills paying their taxes by the end of the day they would actually be a drag on the economy it wouldn't offset the debt it's not going to make any difference whatsoever and the great on any with taxation is that. people have found the more you tax people you create the three f.'s frood flight and fight and actually lower tax revenues lead to greater story low tax bands. lead to greater revenue for the government partly because people are happy to pay tax partly because a lower tax environment creates is an economic incentive for people to work and

trade into business and that leads to economic growth and healthy economic activity which leads to further government revenue so the great. a lot of the time the raising of the tax rates on the rich from forty to fifty percent it didn't actually generate much much more revenue it was done to to to be seen to be attacking the rich we have the stamp duty on properties over two million pounds in central london was raised to seven percent which is a heck of a lot you know actually all it's done is caused the property market over two million pounds just atrophy and government revenue has actually decreased as a result of high tax band so raising tax doesn't always lead to higher revenue for the gun i was reading. over the tell ya he's a good guy and well he's a journalist and. like for our shock cut in taxes to below the rate in ireland which is ireland i think it's twelve and

a half percent he wants it to be less than ireland to be the lowest tax regime in the g twenty and that this would be a boost to the economy i think it would be ok if you don't agree that well yeah but you have in the u.k. you have an incredibly developed. government sponsored entities like the health care and other subsidies of the government in this country so the government you know if you're going to cut what they're trying to cut those yeah right now and there's social on rast which is predictable and understandable because at the same time to get back to our same thing in the conversation they're not doing anything to address these four big banks who are like trolls on the bridge taking all the money as is coming off the printing presses up its aims that was born in cameroon if they're going to come. the services the welfare they if they don't do some something some of the something compatible in the banking industry

they're just popping them selves up to problems as they have done right i'm of the view that any talk of regulation is going to work is just going to make things worse and what about the rule of law is that something that you would agree is necessary and this is the law is the lawyer for the banking system has been repeatedly broke low the bank all right all over again i'm not defending the banking system for so ok but why not why not get rid of those four banks and replace them with ten new banks and create competition well for competition yes we can agree pro-competition i'm pro-competition as well and i would stop bailing out banks and i would i would move to independent competing currency said the banks of banks effectively banks are going to have a duopoly all money i would remove that and if the bank over leverage is itself and the bets go against it and the bank goes bust then the bank goes bust and that's

the end of the story but it seems you bet that the banks are just creating zombies and all the other things we talked about have been i mean that is why we have that's not a matter of regulation that's a matter of deregulation of anything else because regulation is protectionism effectively for the banks is extended as a matter of law and order their banks are regulated but they're not a bank the regulations whether you know they don't or regulations that's not the case or deregulation interesting existing ones in the process that we have would never happened that's right yeah ok so first of all why i'm no one's gone to jail. and first of all why are the eyes of our supporting them white quantitative easing something about to support the bond portfolio of a corrupt banking system so why why can they get up in the house of commons and pontificate on the merits of various cutting of various programs when he's doing nothing about the most vicious. destabilizing influence of this economy the corrupt banks well i don't think it's because he's corrupt i think it's partly because he's

badly advised i think he needs to read up a lot of the osborne yeah but i think also has been advised by way of it gives him a vote or does the buck stop well he's one of the advised by people who have been bankers and some station crees i mean i don't know who else was advisers on but i mean not one low bank like barclays gets caught red handed manipulating lie bahrain's when a bank like h.s.b.c. gets caught red handed laundering money for mexican drug cartels and their defenses were too big to go to jail you can't prosecute us because will crash the system well how can this country that defeated the nazis help defeat the nazis anyway be completely ineffectual in defeating the terrorists and the city of london how come they just lay down like dogs well i call that question max i agree with you independent money is the onset ok so by independent money you're saying there's a two hour play between banks and government then troll money they control the price of money much power right and that is by moving all can create money right

and so on in a pet of money in your view and my view would be something like the gold gold silver the big cooling the commies a dollar the free speech pound all these things you know i'm up through that now i mentioned because i'm unfortunately at the very end of what we are time i would love to talk about bitcoin yeah but we're going to say for the day but i will mention that if it coin is trading a new all time highs against the dollar and it is see cuz it doesn't have the problem of being manipulated by governments and by corrupt bankers it's free to trade and free to express itself as a free currency and doing quite well i wish i understood it better it is a beautiful thing it is totally open source it is it is the ethos behind it is wonderful and long may success continue that said that i have a few but a. that have many because i don't entirely understand how it works yet ok we're going to have to leave it there we'll talk about it quite another time thanks

dominic president my pleasure and i'll be glad to talk about bitcoin. all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i like to thank our guests dominic presby you can follow him on twitter dominic frisby if you'd like to contact us you can e-mail us at kaiser reported r t t v dot are you are tweet us a kaiser report and. 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 tom harpur welcome to the big picture.

the worst if you go with a. white outfit for the day the radio guy and for a lot of male minestrone cricket. what you watch quite we're about to go good you've never seen anything like this i'm cold.