that's just my opinion. the and. the and. welcome to the kaiser report imax kaiser riots broke china after students were prevented from cheating on university entrance exams parents storms the school shouting we want fairness there is no fairness if you do not let us cheat yes this is the taxation without representation of our day there is no fairness if you do

not let us cheat let us rob grannies of their savings let us defraud municipalities across the world let us rig global interest rates let us masel interest rate swaps to small businesses and miscible organizations back securities and pension funds there is no fairness if you do not let us face it as mike this is part of the global insurrection against banks or occupation but while most in the west around the world are demanding that we punish the banks to us for their crimes here they're saying let us commit crimes as well right after chinese teachers try to stop pupils cheating what should have been a hushed scene of eight hundred chinese students diligently setting their university entrance exams or up to to siege warfare after invigilators trying to stop them from cheating now investigators of course is a british word and it means like just an examiner who they watched so nobody cheats but this isn't a small city of yangon who by province and basically these are entrance exams into

the elite universities and if you don't get into an elite university then you don't become one of the elite so apparently this town they were all cheating they said to people outsiders to make sure these kids did not cheat and they took away their phones all that contraptions that they were going to use they planned on cheating and when the parents picked their children up and learned that they had been stopped and prevented from. cheating they rioted the digital age or i think i film with arnold schwarzenegger. now but this is obviously a move to democratize cheating i mean i think it makes sense well according to the protesters cheating is endemic in china so being forced to sit the exams without help for their children was considered was putting their children at a disadvantage they said and i think you can see that around the world from the banks they're allowed to cheat and because the banks are allowed to cheat because they're allowed to borrow

a zero percent for and cover up all their crimes. we have this growing wealth and income gap you need to this idea of democratizing cheating needs to be the new tax around which the global insurrection has banker occupation and formulate a response to the banks toure's and the banks for terrorism that instead of trying to reform the banks they should push to democratize cheating so people that are there are being cheated out of mortgage backed securities made to be able to borrow money at less than zero percent lend it back to the government and make of riskless three percent carry that should be available to everybody everyone should be able to cheat as effectively as barclays and rb as and lloyds and all the other banks they need to be a need to democratize cheating that's what the rallying cry should go up around the world in brazil in china in new york democratize cheating because we in the west don't demand democratization of cheating let's look at some headlines as

a consequence of what we have found in the west big lie america doesn't have number one richest middle class in the world we're ranked twenty seventh america is the richest country on earth we have the most millionaires the most billionaires and increasingly poor middle class so we're number twenty seven below kuwait and cyprus all of the european nations are above us in terms of have. rich middle class the median wealth is up higher but what a few of the reasons given is that so many americans are imprisoned again you know we don't get the luxury of having reckless misconduct for our crimes also they said that the absence of universal health care most of the other nations above us have universal health care and finally student debt and huge debts are incurred for mediocre universities because most people aren't able to get into the elite universities like harvard and yale which are the communist parties of america that's where you go if you're connected you make connections there you get

a job people need to keep smarter you know the white collar elite is able to cheat strategically and end up as billionaires and everyone else needs to learn how to cheat more strategically so they can escape prison and of course in america slavery is legal this is ironic because under the obama administration he has overseen the reintroduction of slavery in america because in prisons in america now you can effectively gauge and slave labor so there's a huge round trip back to the plantation days in america well it is true because in the us they now allow for prison labor which of course they're being paid like a dollar a day so i mean being rounded up and thrown in prison without any crimes being really it's a trumped up legal system so it's back to the plantation days yes so let's move on to also another consequence of this lack of democratization of cheating so the normal person is not allowed to cheat rising us wealth doesn't generate spending

surge we know there's allegedly a recovery the whole entire national wealth of the united states is allegedly back to two thousand and seven levels but there's been no corresponding increase in spending the wealth effect has not been distributed evenly and the reason that economists found was that the biggest gains in wealth are going to wealthy households that tend to say. iva big chunk of their incomes and spend a smaller proportion on basics such as food and clothing these guys don't spend much says economist edward wolff of new york university so most of it is spent in the stock market rise and eighty percent of shares are held by just ten percent of the u.s. population and this is exactly what we've been talking about for a couple of years that the money printing that's gone on benefited a very small percentage of the population that a rising stock market is not equal to a recovery especially when all the transfer mechanism that would filter through to

rising wages has been severed on purpose by the same people that are lobbying for higher infusions of capital bernanke these up to eighty five billion dollars a month now that money mostly just goes into the pockets of the club talker see so the fed is focusing on shares they're buying up shares of buying up equities to buy a mortgage backed securities which the wealthy own and they from the very beginning refused to help homeowners where the you know the middle class has have most of their wealth and in their home that's it their mortgage is actually now house prices have topped out again they're starting to crash bond market has peaked out now or into the bond apocalypse as we've been warning about for a couple of years so bond prices hit their three hundred year high in the u.k. and two hundred thirty eight year high in america and here's what the top one percent will do they'll put in a put on their bond holders guaranteeing their maximum loss to be one or two percent everyone else will get obliterated yeah so they then looked at the numbers

and it shows you how shocking actually the the wealth and income gap is in america because the disparity shows up in numbers wolf calculated he found that the average u.s. household net worth rose this year to five hundred twenty two thousand dollars but the average is skewed higher by the vast network of america's wealthiest like bill gates who's worth sixty seven billion dollars for instance according to forbes maggie. but if they looked at the median net worth of americans and that's what that chart comparing the middle classes around the world was looking at so median being that half of the population earns less than that half more so where were the averages five hundred twenty two thousand and the median is sixty one thousand dollars so that is forty seven percent less than it was in two thousand and seven six really important to the measure and if bill gates walks into a chuck e. cheese the average net worth of everyone in that restaurant is half a billion dollars but what you're saying is that that number is misleading the

average joe in america their net worth is crashing as well as every other. element that you would ascribe to determining whether or not a society is healthy or not the education standards are falling debt levels increasing infant mortality is on the rise america's competitiveness is not even in the top twenty anymore so here you have a country in collapse and they cite these statistics which put bill gates in a chuck e. cheese and they say well based on that example which of course has never happened and never will happen things are looking great exactly so these people in america need to demand we need to see let us see like bill gates does let us have monopolies like bill gates does let us have monopolies like all these other guys do who are in the top and get to siphon the cash zero percent from the fed here you know my average american is still down forty seven percent that's fifty thousand dollars that there are they've lost still down since two thousand and seven yet

they need to change the language from the pursuit of happiness to the pursuit of cheating and whatever that is the declaration of independence or some of those founding documents that aren't worth the paper they're printed on anymore there's life liberty and the pursuit of cheating i think that jeff thomas jefferson was the first who said that well you know you mentioned the bond pocalypse and the bank of international settlements which is the central bank bank central. they've just come out with this report saying that just in america alone they're going to lose a trillion dollars should rates rise by three percentage points so that's another part of the cheating thing is that of course bankers and the elite get to borrow it you know zero percent or one percent. now we're going to look at this payday lender here in the u.k. while increases its typical a.p.r. by one thousand six hundred percent payday lender wonga has received standard interest rate quotes on his website by more than one thousand six hundred percent just points to five thousand eight hundred fifty three percent jump down turn

around pick. around pick the ballot too long they got a plantation right here in the u.k. we're going to plantation well yeah in other words one goes got a plantation right here in the u.k. people work for slave labor slave labor it might be good for the music industry you know music typically they're in slave days you had the birth of the blues and jazz and then rock n roll i mean that it got destroyed eventually by madonna and disco but maybe bring back slavery and we might have all renaissance in the music business i mean the simple if i were to so we have a global insurrection against banker occupation in asia they're demanding equal equality in cheating they're buying up gold they're protecting themselves so in the west we're demanding that they the bankers be arrested by the elite that's never going to happen but there is an equivalence and i think this image was just sent to

us as an eight foot tall max kaiser in vienna through the magic of post production we're going to go to a full screen of this image and this is what morgana co who says a postcard from. well the show saying roughly twenty million people every wake and those people are in major cities all over the world and this is the second city major city that have an eight foot tall her higher portrait of max geyser i want to see something like this in every my. major city in the world join the global insurrection against banker occupation and get an eight foot tall portrait of max geyser in your city as quickly as possible stacey harbor thanks so much for being on the kaiser report thank you max stage and for the second half a whole lot more. i

would rather i asked questions for people in positions of power instead of speak on their behalf and that's why you can find my show larry king now right here on r.t. question more. if he he. if

. welcome back to the kaiser report imax keyser time now to turn to as a record regular simon rose of save our saver's. case simon rose welcome back to the times you very much months now you have a cricket injury i understand yes i'm a very very bad cricket on a very bad cricket team so we get injured more than people who actually play the game properly yes but isn't cricket just an excuse to drink. it is an excuse to drink and he says he's to have a really nice piece an excuse to go to lovely in this what it is and stand out in

poor wondering why you're doing it. right ok that's what i thought does talk about . king this is his last week in the job as governor of bank of england next week mark carney from canada takes over will the new regime be better or worse for savers and what about inflation. i think almost system the cone the ease going to be somebody who's going to to want. come up with more concept of easing accomplis is going to want to do nothing i mean when anybody comes to teach you all the best thing always is to do nothing but of course everybody wants to prove the good reason they've been paid moves amount of money and an immense relocation allowance so i'm afraid i think only there was a wonderful canadian news program recently about central banking about quantity of easing what effect is out and save his income he was interviewed and he seems to have no sympathy walked so well for so it was so i don't think that it was up to

coney we're going to have good time ahead but of course since the feds always talk about tapering we all see in rates generally going up with or it's temporary or not don't yet know. the interest rates have been inching higher not as a result of policy but as a result of people jumping out of the bond market because now there's panic in the bond market there's a pot bond market sell off people are saying this could be a new crisis bank of international settlements in basil switzerland says this could be a new horizons but it's not a continuation of the exact same crisis because after the lehman collapse the bankers came in and they introduced things like quantitative easing to keep interest rates low as a way to try to recapitalize the banks but a bank simply kept committing the same fraud that they've been committing all along we find out now for example audiotapes relays from an angle irish bank that the executives were laughing about luring the government into giving belling get bailout money to them to the tune of tens of billions same thing in the u.k.

the big four banks got bailed out nationalized they're laughing to the bank they're laughing at the citizens who are subsidizing this through their savings correct yeah you know we have five years of low interest rates for people like you and save all savers telling everybody keep interest rates low in a debt crisis we're going to get more debt we're not going to solve the problems and he's going to be a poor so you give an indication that interest rates are going up with any sensible person overpaid in the financial markets should have understood it was a possibility and they panic over it so the average u.k. cricket playing. t. liking t. like her is getting her to ways their savings accounts are getting demolished and we've already covered the fact that for every pound that people might save in a mortgage or other interest rate sensitive products are losing three in their savings account so the mathematics of that are horrible they're just gutting the industry and number two it's created more instability the debt levels in the u.k. since george osborne and folks introduced austerity have gone up this extraordinary

idea that somehow we're going to savage cut some austerity in the u.k. but spending in real in real terms is going down very slightly but our deficit is staying at one hundred twenty billion pounds a year the total government debt is going up by fifty percent during of this parliament and that's with interest rates incredibly low if they do start going back well it's not going to be pretty but as you say so because of the money plundered and for some reasons favors the take it on the chin i mean they're not happy we get people grumbling all the time they are angry but they don't doing anything and yet if they'd be mugged by people in the street it would be considered a crime wave but the absolute outrage you know yeah the one hundred twenty billion pounds has been taken from u.k. savers i'm given to essentially to the people who've borrowed imprudently why is there not rates because it suits the government it suits the bank has and it suits them to go because your mortgage is the government in the media like to portray this as a victimless crime yes and that's why there's that outrage because they believe the

crime but when you see the global insurrection against banker occupation and now brazil million people in the street we see it all over europe see it all the world this is where the the tip of the spear the burning edge of this pushback against what we see in the u.k. in the u.s. is happening but you know i want to ask you this i went over the weekend to an event here in london near it was it was minister this was organized by the sea and the n u t a these are labor organizers organizers and they're all restore about. during some kind of some bunch of representational democracy and government and you know the left save the left essentially save save save britain the socialist model but you know this act is that of save our savers can you say argue that why not save the right why not save capitalism because we're talking about here is not capitalism no it's crony obviously i'm sorry calvinism of the

would capitalism doesn't even count we can we can get our event down to westminster and get four thousand people to show up to say save ark save capital and we'd love it if four thousand people showed up but is that what's at stake but that's the point of think a lot of people think what we've got is capitalism what we've got is a failure of capitalism it's not we've got these banks that are too too big to fail too big to jail we now understand in the states will that just too big i mean i'm sorry that i hope to say i'm sorry but it's so big they can lobby for whatever they want what politician is going to try to bring down the banks or reform them i mean what it's all right but you want me on our annoyed now you got one and i mean it is always the one thousand right i mean by your own people and we've got to move so what do you say save our savers you're saving what you're saving there is capital and capital is the basis of capitalism you've saved your ass now i want to save grappling with inflation which is recently picked up again in the u.k. we've now got to position ways almost important it is actually not impossible for a cash saver to preserve that capital at all what you are seeing is is it being

a road at all the time there's this impression given as you say that somehow it's because of some force that nobody can control that's not true at all it's because inflation is a manmade thing i mean you can control inflation if you want to control interest rates the problem is what they're doing all the time is suppressing free market capitalism this is a form of crony capitalism that everybody on whatever side of the political spectrum they all should be objecting to it doesn't work they lowered interest rates they believe somehow the economy will pick up we'll never going to return to the willed we had ten years or so ago what is your. say the official read on fallacious at the moment c.p.i. which is one they like is to not only present. giving the admits it's going to get to over three percent which forty means going to go higher who is the real right if you look at the very most people reckon it's about it's about double what it's all to tell i was looking at various substances in the show as well i think for sun well it's hard to tell but you know unlike the states where they have this

wonderful website called shadowstats where they calculate all the indices the way they work calculated for people i think ring with them well that's fantastic we don't have an equivalent in the u.k. a couple of people try setting things up and it looks as if addict only speaking if you look at the price most people and things that people actually buy i mean potatoes going up forty percent in the last year ok i'll say let's say it's between five and six percent is a real rate of inflation was the rate of which wage growth in this country right now oh it's about what it's going to tools going to be a less than one percent that's right yeah i mean people are you lot we hear all the toys yes it's not just save us everybody's feeding poor yet but i think there's no reason why more of course for people to play on the banking commissions recently looked into the banks one of the interesting things what they wanted personal responsibility they want to know who can we blame when things go wrong but that should be the same for politicians same to central bankers but i know you design your free osborne just for girls board yes george osborne we like to kick him because he's so adorable yes and he had on your police

a little puppy. the resulting lawyers were ok after that ok to do is this help to buy scheme yes to deal with the absence of a real economy here in the u.k. the housing market now this this and this help to buy scheme is just another ponzi scheme yeah absolutely. apparently according to all schools regional was introduced without consulting with her or against the opposition of the treasury without consulting with the bank of england even moving to new that one wasn't a very good idea there isn't that socialism or how come he's not i want to you see a state save our social space because he's. providing welfare for homebuilders investors absolutely well what was he was arguing with one of the problems i suppose is that the wealth of bill is still growing enormously because too much is promised to people who aren't turning and that's always cause on the back of the people who aren't paying taxes well nothing to correct that problem and with an aging population that's going to become increasingly difficult eventually something

will give how do you call it already the thing is also well it's not a tory i would be familiar with most because most proper conservatives would say that neither osborne nor cameron all conservative in the traditional said but what is this bushy mushy policies that they pursue where they it's not based on economic growth that's knowledge on magellanic no the politicians you just want to get elected again in two years time that's all it is the answer is they're doing it but that well either they think they're not going to be around so it's going to be somebody else's problem all they somehow think people are going to notice the thing is always born geoffrey all george gideon is his real name was before he changed it is not an economist he's in the story and well you don't need to think back very far to see what happens when you start supporting the mortgage market when you stop thinking or when the government takes a stake in the mortgage market it but it is perfectly possible the economy will start growing that chestnuts will be hauled out of the far and i think be ok but i wouldn't want to bet on that i don't know anybody else who would want to go badly wrong just to be clear the government is especially guaranteeing the mortgage is up

to twenty percent of the mortgage in the same and i repeat of the fannie mae freddie back that in america which guarantee mortgage loans are the subprime crisis and the crisis of two thousand and seven two thousand and eight as i understand it back to mark carney one i still don't understand why they want to support house prices i can understand wanting to encourage more people to own homes but we've already got the price of a typical suburban set me in london costing in real terms ten times the price it did in the one nine hundred thirty s. something is going very very badly wrong and why when we deal with a possible taters go up is that a bad thing but somehow disgrace if your house price goes up you can't export their house. it's not a problem is generating wealth ok that's a good question because i think it speaks to the british character because here in britain people ascribe huge value to their home you know man's castle as home they everyone wants to be a frickin want to be a wrist a crack with their big plan you know their big downton abbey has done more damage to the psyche of this country than than even the sex pistols allegedly did back in

the seventy's that down the abbey is the most radically misinformed propaganda that one could ever imagine coming out of the psychosis of the who ever produced that shows the b.b.c. i would imagine i.t.v. i knew i was in the b.b.c. this time as i.t.v. but there's a mentality there that if you own a house or matter how badly you screw up the economy you know how much debt you go in to remember down at me that i was going bankrupt as i recall that lead later and yes absolutely what do you do to push the muslim bust you say yes and this was almost be as gullible as what we might be because if this goes really badly wrong you know we could see social disorder i mean eventually something is going to give right we're going to say we're going back to tenet farming in other words when one which is a terrorist but a terrorist in this country operating a financial terrorist when they introduce interest rates of five thousand percent that's the same thing is that's the worst intent of farming people would let gladly rather be tenant farmers then they want a five thousand percent on a on

a loan guess what it was a group of ministers saying they want to build on field because they don't seem to understand that's where food comes from but most people don't have houses are not can be able to grow their own vegetables i'm not even going to protect them protect them if they do but the problem is only savers i'm so certain groups of people understand just how mad this is all because the problem is people paid so much money in the financial markets and in government and civil service either they don't understand or pretend they don't but somehow we feel it's also the going to be put in the straight jackets not that right simon rose or save our savers i got to go at a time. but while you're nursing your cricket injuries give this some thought all right thanks for being like he writes about and that's all the time we have for this episode of the kaiser report with me max kaiser and stacy herbert i'd like to thank our guest simon rose of save our saviour's dot co dot u.k. if you'd like. to report until next time.

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this is. what. edward snowden goes underground under the radar. international press corps. and washington the breathing fire of china and russia for the refusal of both countries to. head on a silver platter. and taliban fighters launch a heavy. presidential palace a week the country's security forces took control and the u.s. announced plans.