criticized all the time just as in life michael hastings death raises questions about the actions of the powerful that's going to do it for now i make a lopez i'll see you right back here and at eight pm excuse me. let me let me respond will let me ask you a question. here on this network is what we're having a debate we have our night. believed to be. staying there to get away with being free to talk about the surveillance.

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 treat stacey as mike this is part of the global insurrection against banks or occupation but while most of the west around the world are demanding that we punish the banks stores for their crimes here they're saying let us commit crimes as well riot 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 are updated to see warfare after invigilators try to stop them from cheating now investigators of course is a british word and it means like just an exam are they watched so nobody cheats but this isn't a small city of shanghai and 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 sent in people outsiders to make sure these kids did not cheat and they took away their phones all the contraptions that they were going to use they planned on cheating and when the parents picked their children up to learn that they had been stopped and prevented from. cheating they rioted the invigilator i think i'm still with arnold schwarzenegger. now but this is obviously

a move to democratize cheating i mean i think it makes sense well according to the protestors 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 could see that around the world from the banks were 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 is 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 that are being cheated out of mortgage backed securities need 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 r.b.s. 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 cheat 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 that 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 yeah 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 see. 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 this is exactly what we've been talking about for a couple of years that the money printing that's gone on as 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 is up to eighty five billion dollars a month now and that money mostly just goes into the pockets of the club takhar 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 holdings 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 net worth of america's wealthiest like bill gates who are sixty seven billion dollars for instance according to forbes maggie. seen 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 i think that's externally important to measure and if bill gates walks into a chuck e. cheese the average debt 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 of 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 this is 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 responded 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. and around pick the battle to the longer they got a plantation in the u.k. we're going to longo's plantation well yeah in other words one goes that plantation right here in the u.k. people work for slave labor slave labor that 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 you might have a whole renaissance in the music business i mean the symbol of what we're doing 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. one of the shows same 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 of 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 herbert thanks so much for being

on the kaiser report thank you max stay tuned for the second half a whole lot more. here is mitt romney trying to figure out the name of that thing that we americans call i don't know. i'm sorry i missed the guy who cares an awful lot like you sir are a fool you know what kind of my terrorist cells you know want to keep us safe to featurism me on the liberal democrats. because your beliefs about the. you know the corporate media distracts us from what you and i should care about

because their profit driven industry that sells of sensationalistic garbage he calls it breaking news i'm abbie martin and we're going to break that. ilk. welcome back to the kaiser report imax keyser time now to turn to as a reporter regular simon rose of save our saver's. simon rose welcome

back to the times you very much mags 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 envious what it is and stand out in poor and rain wondering why you're doing it it is right on my head ok that's what i thought all right does talk about mervyn 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 kohen the ease going to be somebody who's going to to want. come up with more comes to be using a company that is going to want to do nothing i mean when anybody comes to do your the best thing always is to do nothing but of course everybody wants to prove the

there's a good reason they've been paid some out of money and an immense relocation allowance so i'm afraid i think on the me there was a wonderful canadian news program recently about central banking about quantity of easing what effect is out on savers and con he was interviewed and he seems to have no sympathy walked so for say 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 i 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 horizon but it's really 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 that tune of tens of billions same thing in the u.k. the big four banks that got bailed out nationalized they're laughing in the back they're laughing at the citizens who are subsidizing this through their savings correct yeah you know we've got five years of low interest rates for people like you and save all savers telling everybody if you keep interest rates low if the 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 which any sensible person overpaid in the financial markets should have understood was a possibility and they panic over it so the average u.k. cricket playing. tea liking tea like are

is getting are two 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 says that a product or 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 cuts on 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 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 reason savers 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 and given to essentially to the people who've borrowed imprudently why is there not rights 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 not outrage because they believe the crime but we see the global insurrection against banker occupation in 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. minister this was organized by the sea and the and you tea these are labor organizers organizers and they're all about. during some kind of some blend of representational democracy and

government and you know the left save the left essentially save save save britain the socialist model but you know that's a fact is that of save our savers can you say argue that why not save the right one to save capitalism because we're talking about here is not capitalism no it's crony obviously i'm sorry capitalism of the wood capitalism doesn't even count when i can we can't 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 yeah well you know i mean as

i was the one thousand right i mean it was your own people and we've got to move it so what do you say save our savers you're saving what are you saving there is capital and capital is the basis of capitalism and you've saved us not 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 they have to preserve that capital at all what you are seeing is is it being a road at all the time does 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 and 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 they official read on

this at the moment c.p.i. which is one they like is to not only present the bank of england minutes it's going to get to over three percent which what it means is going to go higher who is the real rate 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 percent well it's hard to tell but you know unlike the states where they have this wonderful website called shadow stats where they calculate all the indices the way they work calculated for people start thinking 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 because. people actually buy i mean potatoes going to 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 growing tools going 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 are

people to blame on the banking commission's recently looked into the banks one of the interesting things with a wanted person 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 even flying a plane every almost four g. for growth board yes i mean that george osborne you know we like to kick him because he's like adorable yes when he on your free social puppy yes the resulting lives we recognized or medicaid reduced the 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 skiing is just another ponzi scheme yeah absolutely. apparently according to the wall street journal was introduced without consulting with her or against the opposition of the treasury without consulting with the bank of england even moving can you that one wasn't a very good idea there isn't that socialism oh how can we not i want to use c c c save our social space because he's. providing welfare for homebuilders investors

absolutely well what was it was one of the problems i suppose is that the wealth of big bill is still growing enormously because too much is promised to people who want to and and that's always goes 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 almost 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 sense but what is this bush the mushy policies that they pursue where they it's not based on economic growth that's knowledge on magellanic know that politicians you just want to get elected again in two years' time that's all it is the answer to that. 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 aren't 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 you don't need to think back

very far to see what happens when you start supporting the mortgage market when you stop to think really when the government takes a stake in the mortgage market it but it is perfectly possible the economy will start growing and 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 just to be clear the government is essentially 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 mortgages later 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 say well the price of potatoes go up is that a bad thing but somehow it's great if your house price goes up you can export their house. it's not 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 castles 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 this country then 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 whoever produced that shows the b.b.c. i would imagine so 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 a matter how badly you screw up the economy you know how much debt you go into member down at me that i was going bankrupt as i recall that led later and yes absolutely what do you do you put so much love busts you say yes i mean this was almost be as gospel because that's what we might be because if this is really badly wrong 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 generous of 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 i'm 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 you will know it and save us i'm certain groups of people understand just how mad this will become the problem is people who paid so much money in the financial markets and in government and civil service either they don't understand it pretend they don't but somehow we feel it's also the going to be put in the straight jackets not them all right simon rose or save our savers i gotta go we're out of time. but while you're nursing your cricket

injuries we'll 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 get. that kaiser report it's a lifetime. they were ready to do anything for their country to try to love the country more than yourself if you join the military or any other reason that you're probably not going to have a good day. in the hands of the state now they live remembering the past which is impossible to get rid of. the war. but i'll ever good people to get hurt. hurt good people them to be silent.

but would prefer not to be sometimes i feel like. i should have died over there. i saw some people who. is cheaper than paid. on our.

you live on one hundred thirty three bucks a month for food i said try it because you know how bad the less bad luck. i mean i have my hands. that i'm still really messed up. very so closely. the. worst. flight out of the radio guy and four minutes from a quick fix what. to do because you've never seen anything like this i'm told. so. hey guys i'm not a morning on the break and that last week afghan president hamid karzai announced.