that impact might. choose the access to your office. max kaiser this is the kind of the report we started our journey down on wall street but that's not really the heart of darkness in this financial armageddon this apocalypse it's actually in midtown manhattan which you see in me so we've come up river looking for colonel kurtz who we will attempt to exterminate with extreme prejudice stacey on to tell us more max i assume that you mean colonel kurtz is jamie diamond who works at j.p. morgan he's the c.e.o. of j.p. morgan which you might see behind the chrysler building right there on the horizon j.p. morgan is full of that i understand you're going to go scouting then later you're

going to go deep into the heart of darkness but the question is this is america's currents not really a question but a statement that headline is from zero heads and they look at the participation rate happening around the western world but in particular america where people are no longer voting people aren't showing up to vote so in twenty twelve for example the presidential elections less than fifty percent of the people eligible to vote voted so that show a chart is called the bull market an app with a. change of voting rate since one nine hundred eighty sources o.e.c.d. and korea has the worst since this decline of about thirty three percent since one nine hundred eighty and the u.s. is next to a drop of nearly thirty percent in voter participation so there are hedges asking is this because of the department of justice nobody's being you know we always get larry summers we always get robert rubin i was to say rick rubin actually. def jam records l.l. cool j. now well look you know made the voters you don't need the population you don't need

people working you don't need their tax receipts because the top five thousand princes of america have access to jamie diamond colonel diamonds sounds in a free money along with the federal reserve bank they just print more quantitative easing. those in these princelings that america down for like saudi arabia which has a similar situation they have a fountain of oil they don't need the people save abject poverty and some five thousand princes in america similarly they've got their aristocracy that has been created now with the federal reserve's quantitative easing and they just print money as they need it it boosts our asset prices and boost our real estate prices they don't need the people to work to create the savings to create the capital they don't need the taxes so the people are being essentially exterminated that's the problem with colonel kurtz diamond is that he's gone rogue he's become the leader of a cult he's taken his military operations up to mimic saudi arabia it's no coincidence that saudi arabia is now provoking war in syria to get their gas pipeline to europe

just like it's no coincidence that saudi arabia and the petro dollar and america the federal reserve bank are colluding to exterminate the american population the american people are not just getting poorer there are at threat of being exterminated by colonel diamond well in a way that's already happened you can see that all along this river here the east river in manhattan where there and in factories the domino sugar factory the abandoned factories everywhere here because we're not producing anything here but in terms of this america's curse that we're not participating in the democracy that we're spreading around the world is arrowheads points out that the scary part of this is that there's now no checks and balances the only thing we have to hope for is not change the hope and change of an obama like character but collapse because then we could all start again but the american system was brilliantly kind of seen as a system of checks and balances you had various branches of government you had to press

the fourth column the fourth estate as the ultimate checks and balance you know journalism is the only profession mentioned in the constitution but now you have journalism. eradicated thanks to the n.s.a. the spying scandal they don't want any journalism at all they don't want any objective analysis of what's going on in america at all if you provide objective analysis they will kill you as we saw with michael hastings just like the state murder aaron swartz this state murdered michael hastings they don't want any kind of objective reporting whatsoever on their financial jihad to exterminate the american people that's the risk is that you get exterminated so you mentioned the fact that because of the dollar system as a world reserve currency the five thousand princes of america do not need the working class to create wealth they don't need to manufacture it because they could just print dollars and make the chinese work and send it over to them for free essentially just like saudi arabia can print oil essentially by putting in

a straw and out comes the oil well here we're going to turn to this next headline about manufacturing in the collapse of manufacturing and why that's happened in america extra costs to make google phone us four dollars google made a big splash of announced the moto x. the new flagship phone of the company's motorola division will be manufactured in texas an analysis of the smart phones internal components by i.h.s. and my supply reveal that the moto x. cost between three dollars and fifty four dollars more per phone to make the apple i phone five or the samsung galaxy massive or both of which are assembled in china this report looks at this fact it's only four dollars more to make the google phone here so why doesn't apple do it for example why don't we re store manufacturing your wealth creation to america all those millions of people unemployed well it looks at the fact that apple sells one hundred thirty eight million i phones and if you multiply that by four you get about five hundred fifty million dollars more

that it would cost the company of profits of course they say they're not going to do it rather the rationing makes no sense to me they're saying that because they're so profitable they couldn't do it. in america they're saying americans don't deserve the profits the apple the few princelings that run apple deserve the profits not the americans who are consuming the products or supporting the infrastructure that supports apple creating the infrastructure with their taxes that support apple they don't deserve anything they deserve to be sent to prison they deserve to be murdered by the state they deserve to be eradicated because they're in the way that's what they deserve and the fact that apple can make a statement like that or google or any of these high tech companies is as absolutely devastating to the american people i would think as any foreign time and saying that they want to drop a bomb on america this is same this is only there's an equivalency there if they had a temp cut the head of apple said i want to bomb new york city let's temp john cook

of apple i want to blow up new york city with a ten megaton atomic bomb people say that's bad but when you say i want to efficient rate the entire working population of america by not sharing with them the profits i were stealing people say i'll call like i'm given a billion dollars cocoa like and by the way as a financial terrorist you have been for decades that meant shipping one ton of all being unmercifully beaten in my opinion well it does look along here the east river if you look at all the abandoned factories all the abandoned warehouses it doesn't look like there has been a bomb dropped on it it's to do with tax policy which encourages big corporations to send things overseas and it has to do the same in the same part of the problem of the corporations sending overseas is the five thousand princelings here they don't need the worker here to create wealth but the other thing the article points out is that the real stumbling block is speed and education so unlike us plants foxconn and other chinese manufacturing operations house employees and dormitories

and can send hundreds of thousands of workers to the center lines at a moment's notice workers are subjected to what most americans would consider unbearably long hours in tough working conditions will stay. in this case is the speed that apple is shredding the constitution that's the speed issue here the speed at which they're eradicating the middle class you know this speed at which they're destroying everything that's left in america that's the speed issue they fired time is to come in there and help them destroy america and that's unconscionable it's on forget it's unforgettable also i mean unbearable working conditions we were just driving to north carolina while we're here and the sights of the highways are all pristine while i personally were right because president labors of biggest growing work population in america they're working for a dollar or two dollars a day and everyone's going to be back on the chain gang as i said on the show many times get to know this song jumped on turn around pick a bale of cotton from the old plantation days slave in days because that's where

everyone americans go to jump down turn around pick a bale of cotton because ya'll be workin slaves now thanks tim cook a frickin tyrant well the other matter of course is education when the princelings the five thousand prisoners don't need the population they don't need to take care of them in any way people don't need to be educated china also has far more skilled engineers than the united states apple has said it requires thirty thousand industrial engineers to support its onsite factory workers numbers that simply don't exist in america right because they engineered like the genesis engineering the perfect arian race of consumers in america who will just consume and not ask questions and not demand civil rights or constitutional rights you know where hitler felt tim cook has succeeded he's created a master race of consumers who don't question his authority who just give him money and he does not pay taxes so they call tim cook you're

a credit to the nazis as the n.s.a. and their documents refer to consumers and other adversaries so these are the sort of people they're talking about but you know finally why are. what is america's curse why why do people not care about the democracy here that they seem so passionate about exporting abroad well behind us as we start at the top and so is colonel curtis jamie dimon j.p. morgan exclusive j.p. morgan subject of obstruction probe and energy case u.s. authorities are conducting a criminal investigation into whether several employees of j.p. morgan chase and company try to create a regulatory investigation into alleged manipulation of power markets so as you know the federal energy regulatory commission fined j.p. morgan for engine ten million dollars in july elizabeth warren the senator asked why are you not investigating them for criminal behavior obstruction of justice and lo and behold the f.b.i. and the u.s.

attorneys here in manhattan are investigating apparently three houston traders working for j.p. morgan and perhaps life masters it's hard to know at this point but it looks like there might be a criminal investigation of course the seized and trainers are cast offs or close to the cast from the enron scandal so the enron scandal was a huge scandal in america where huge accounting scandal nobody really this penalized much jeff skilling that was one of the c.e.o. is actually coming out of jail early for good behavior because they need him to help float some more junk american bonds to stupid communists in china in the rest of the world he's a good bond salesman i should put my milk in charge of the treasury then i would know that they've got a brain in their head because they realize he's a master arch criminal the super hero bon but mike milken in charge of the federal reserve bank or the treasury secretary get real obama you know there's a war going on and you're getting your handed to you by asia and you're asia because you're you're playing checkers they're playing chess get mike milken involve your frickin jerk well ok you bring it to several points there because

first of all enron did the same thing they sent spent decades in jail one of them escaped two pair of white attending he had a heart attack but. j.p. morgan is only being investigated for obstruction of justice not for the rigging of energy markets but the other thing is that regarding the bond markets it's j.p. morgan is just abandon the students that we talked about j.p. morgan's getting out of that market but also shorting the dollar by going long gold right there getting out of student loans after racking up a trillion in debt that won't be paid by the students to they won't be able get the jobs to pay the debt so they get banned in another generation to eradicate another generation of americans to exterminate them in the incinerator of their debt creation and of course if you put any of these j.p. morgan guys in jail because a privately traded jail they'll simply do a leveraged buyout of the jail using taxpayer money and set themselves free that's the problem when you have psychopaths running the jelling system and wall street this year with thanks much making the report thank you max had good luck up in ny

j.p. morgan exterminate with extreme prejudice looking forward to it jamie stay tuned much more coming your way. crosstalk rules and if it doesn't you can jump in anytime you want.

live . live. live . live.

live. live live. live . welcome back to the kaiser report we made it all the way up river with this banking apocalypse now searching for a colonel kurtz of banking jamie diamond i'm here with now or third ferguson at seattle's report dot com also there at dot com terry walker the kaiser report thanks max great to see it all right sure does j.p. morgan cohen heard the call makes gold market it would certainly appear to be that way max and if they have something rather big deal i would say let's talk about the data and the reason i would say that comes from what's not a really buy in there's

a silver analyst money majed bucknor you might know who he is he's been studying all of the c.f. to see generated data for years so he knows the ins and outs he looks at all the different reports that come out once a week once a month and he noticed this a couple of months ago i was able to sell my own research and i think he's absolutely right from a short corner a bull which they took late last year when prices at eight hundred inexplicably started going down here now they've now established a long corner in gold which you still and you were pricing headed from here all right so let's talk about silver because that's also big and that is has been for years they inherited a huge short position from bear stearns when they bought a bear stearns of. j.p. morgan what's the status of that suit short position still they're still there really that if they don't trim it they trimmed it considerably over the course of last eight months something around the neighborhood of maybe fifty thousand contracts down to ten but silver is so tight there are so few market for just one

say couldn't get entirely out unlike gold where they're able to flip completely from short how long and we can we know that by looking at these data to see if you see generate some sell so they put out these report that means the data is bad who knows but we have to go with it it's what it is what it is and everything indicates that everybody is still short silver most everybody sure looks are still short gold but j.p. morgan is no longer that's a big thing. all right let's talk about the comix for a second because of course it is a paper market and there is speculation now that their inventories are running down to near zero yeah same thing with j.p. morgan's interest story of gold that they hold i guess a custodian for folks and if it is it is a run on the comix possible or will they just settle in paper and i don't know if you cover the london going markets association or not but there isn't right now according to andrew acquire a rundown on these precious metals on the lot i'm going market situation right now what's up yeah that's been going on for quite some time that we've seen that j.p.

the comix depositories have lost something like four million ounces of gold just this year has flown out of their break down all the delivery numbers have come from the sea and the most of it is calm out of g.p. morgan and they were getting out from under the short position this is the short position they're here to the bear stearns one now that's on the gold side ok the silver side they're still short and all the big banks are still short and that's still going to continue to be a big weight a big drag on the silver market he definitely let's talk about the precious metals versus the dollar because as you know america is going to war again yeah and a lot of people say the war started bailout folks like j.p. morgan because it gives them a lot of cover to go in there and manipulate markets in a way that's really quite shameless so you try to what would be their move going forward what's their number one objective do you think to restore their ballots because right now their liabilities are probably supples or there or there or you know their balance sheet in terms of their reserve so you do that where you think

that there will be their next move to try to extricate themselves from a very enron like dangerous position at j.p. morgan that that's what's really challenging about the position they're in max because they're so buried in derivatives and especially an interest rate mortgage we've seen what has happened in interest rates and just even today we also saw they two rising interest because the time your notice now runs again a year highs yeah i'll expose are they as fast as the car of the fall swaps the rising rate environment or. ferguson well it's you know paid environment who can really say for sure and certainly looks like they're terribly exposed as in their function as a primary dealer for the fed and all this stuff to be in nature banks have done particularly j.p. morgan to help and keep interest rates low look what is done rates have doubled just in the last six months so i think they're all in deep trouble the bottom dollar is rallying as you said but bonds are selling off like crazy right now. let's take it over from bank of england he said oh we're going to forward guidance to keep rates low since that day rates have gone to nothing to go up what you see

happening in the u.k. yeah it's more of the same the buyer of last resort is the bank of england just like the buyer of last resort the fed this notion that they're going to tape yeah they might they might taper a little just as bernanke has little going away present i think what bernanke is going to say is hey i put in this program a q.e. as i was leaving i started the taper it wasn't my fault that it ended up going to infinity when i had to laugh i did save the economy and i've begun to keep arguing this is summers is problem this is no one's fault not mine i don't hear oh it seems like whenever they do a changing of the guards the fed has used it when they have some got a crash and they always come in with an emergency claire merges the powers and then they re architect the system also but life mausers the wicked witch of j.p. morgan she is the architect of the credit default swap market now he's really at the nexus of all the fraudulent activity that morgan engages with our late summer now speculating they're going to be walking the plank her involvement in energy rigging energy market rigging the update and that remarkable congress can

investigate baseball they can investigate lance armstrong all these guys you want to put in jail but blyde going to live a lie to congress in front of the house or did he lied to congress i think i was exact lied played she might be up there someplace right now we went to work have a good crew that's all i want to talk about a very important topic here we cover on the show often it's called i call price propaganda prices are telegraphing certain conditions in the markets but those prices are the prices government can islam has for the last part been destroyed through manipulation it can look at the price anymore and it's sort of been really what the underlying economic activity is anymore what can you look at to really understand what's happening if you really you know i guess you could call this inside baseball but what are the professionals looking at look at you know that you guys over zero heads are always looking up the real picture not just the so. superficial picture when you drill down where do you look to find out what's really going on beyond just the prices were i'm talking about is so numbers are completely

falsified like c.p.i. right judy pay the employment numbers they're all fall right they're all nonresidents right the volume of whatever volume on wall street it's completely robots trading with robots and says nothing what's really happening in the volume well just to finish that point that's what i'm getting at you have to go off in your own experience and trust your own instincts if you see if you know the unemployment rate really isn't seven percent don't only with how we don't know what do you look at i look around my own town i look at people what i did but i don't i trust alternative media sources such as yourself rather than watching c.n.n. b.s. all right so why hasn't crossed yourself why is it then that people won't believe their own eyes when they see financial news on same b.c. is patently false they're being lied to propagandize and they know what's happening in their own town why do they believe maria bartiromo instead of blaming their own eyes i think it's two things it's cognitive dissonance first of all that it's a basic normalcy bias that people have they want to believe that everything is fine

it's like the people in the in the towers down down twelve years ago they were told to stay in their offices even when they could look across and see a building on fire i heard at the time that there was a morgan stanley broker in the south tower who stayed behind a straight airline put options and as a result didn't escape and died there that sorry it wouldn't surprise me a match got its fate i guess that was coming to him why he died with it as well this puts on he made some money i guess cruisers perhaps now finally let's talk about this collapse reflation era because after the lehmann collapse the central banks got together they prayed to trillions of dollars in a balance sheet of the bank of america you know the federal reserve bank expanded by trillions of dollars same thing bank of england around the world are we at the end of that recessionary period is the housing market rolling over is the stock mark. rolling over are we going to go back to this primary bear market that started really if you two thousand two thousand and six i think it's impossible to say i

think we'll only know that we've reached the end after we've reached the end because we'll continue to print money don't continue to dress up the balance sheets of the banks like j.p. morgan and citi group this should be part insolvent. i don't know i wish i could tell you the mark to market yeah the hallway if you did that hard to bark yeah yeah there are books and assets on their books but yet in the mall up based on today's current market price is the banks solvent from what i understand no because fast he went in and changed the rules under political pressure and fast maybe a financial accounting standards board which allowed banks like j.p. morgan more to maturity instead the bonds in the studios and things like that from two thousand and seven and two thousand and four are all worth pennies on the dollar they're never going to be worth more than that if they had to mark them to market every day if you under-capitalized an insolvent so if i came to you with that goal that used car that was beaten up and it was in a car crash and i said i want you to buy this car for four thousand dollars because i want to go into a time machine and base the price on what was happening ten years ago that's about

the same logic that j.p. morgan uses to say that the bonds on our books even though they're worth pennies on the dollar right if you go into a time machine to look back ten years there actually were two hundred seventy dollars therefore they're worth are says that all or if you go forward in that same time machine twenty years that these are going to mature at heart all right sir that's all love fantasy a full full thinking aside let's drill down into the mechanics of comebacks last year the number of contracts are short it was long a lot of people understand exactly the gravity of the specifics of the situation ok this is all data that supplied by the c f.t.c. regardless of what we think about them this is number six come from them there's a report that comes out once a month usually the first president call the bank participation report it's a summary of the positions of the four largest u.s. banks in the twenty largest non us banks will give you specifics because that might want to hook into hell. they want to keep it as opaque as possible but we're able to decipher that and look at the changes as recently as may the four u.s.

banks more net short gold futures as they always have been but by the report in august they've gone from seventeen thousand contracts should net short to sixty thousand net long and we can look at the other banks but i think the main one the big kahuna as these guys right here they've flipped they have used it maybe they've even caused this whole town or intuitive market move from one thousand nine hundred hack in november down to twelve hundred in june and utilize that time period that right sweetness to get out of that shore position flip it along they made probably about two billion dollars it's a nice building they have here a morning. and now they've gone to where they're obviously net loss and by the data and look people are trying to say that the prices are going lower don't believe it's hard to lower the cost of production for the miners so they were going to supply issue but if j.p. morgan is lowering the price is going higher we can say with certainty all right so as you point out the price is below the cost of production and you've got the

biggest player in the space now that long you know and so your your thoughts are that the gold market when it got that a qualifier so kind of like that's the the the the bottom of the well now the question is what did they know why would they just diverged from their all of their modus operandi they've always been short gold they've always been short silver all of the billion bank short gold shorts over all of them still are the only anomaly is j.p. morgan being long what do they know what are they preparing for well you know famously during world war two j.p. morgan sided with both the nazis and the united states you know they play both sides now are entering onto a war footing again they're going along gold what does this say perhaps about the u.s. dollar what are your thoughts on the u.s. dollar going forward again instead of polish midget currently you know that they value it by the index which measured it against all the other fees. currencies so that you know i'm probably continue to waffle back and forth just like it has for five or six years term measures it versus goal and that's going to keep declining

so to consented to depreciate against all absolutely all right george ferguson report dot com thanks so much for being on the cars are important acts my pleasure and that's going to do it for this edition of the kaiser report with me max kaiser stay here but i'd like to thank our guests are free to say they like to get in touch tweet us on twitter a kaiser report it's a lifetime still be like jamia destroy america's currency by the basic i would love money printing by all. the main competitor girl on the market is mother nature. may customers

struggle with to. fight for each drop from a dirty supply. let people think i hear prices purer water. they use it up there and wash their hands. and flush their toilets with the same. suits is selling and spring water. the. economic up and downs in the final months day the length of the deal sang i and the rest until you meet casey will be every week on me.

but. we're going to do it. did you know the price is the only industry specifically mentioned in the constitution and. that's because a free and open process is critical to our democracy. in fact the single biggest threat facing our nation today is the corporate takeover of our government and out across several we've been a hydrogen lying handful of transnational corporations that will profit by destroying what our founding fathers once told just my job market and on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem to try and rational debate in a real discussion critical issues facing america five ever feel ready to join the movement then walk a little bit. lol

north wall president putin addresses political public circles in the united states saying america should not attack syria as it would ultimately diminish u.n. and international disarmament efforts. a terrifying week of pillaging executions and forced conversions ends in the christian village of mandala the syrian army units force more than us. on the u.s. . secret deal.