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biomass times are welcome to because the report of the second to begin with greg palast health stuff come about larry summers the most financial terrorist in the world but first let's catch up on world war money staging over yes max there's been a in official denial that the u.s. engages in economic espionage statement by the director of national intelligence james r. clapper on allegations of economic espionage it is not a secret he said max that the intelligence community collects information about economic and financial matters and terrorist financing this is because all this n.s.a. information has been released that they're collecting information not only on american citizens and foreign citizens but also on corporations and banks and financing centers all around the world he says we collect this information from many important reasons for one it could provide the united states and our allies early

warning of international financial crises which could negatively impact the global economy and also could provide insight into other countries economic policy or behavior which could affect global markets right economic. infrastructure or surrounding the government wall street to conduct economic espionage in the wake of nine eleven it gets back to you have to you define terrorism in america the definition of terrorism is if you kill a bank or anybody else gets killed it's a crime but if you kill a banker that's terrorism trust me it's not eleven came and it was just citizens and no bankers it would not be the event that we know today is the great tragedy the fact that bankers went down it's terrorism oh my good well then we do know we serve on a regular oh no that's true as a conduct economic espionage rather well that's part of every single transaction everywhere in the world to make sure our bankers make the most illicit gains possible right back to the say this is not just. post nine eleven the evidence

suggests that they've been collecting data on all sorts of economic activity for decades and many decades they've been collecting this data so the cover story is nine eleven and that it's only been happening for the last twelve years but he says that despite the fact that they were collecting evidence before nine eleven he said that this evidence the data they're collecting should give them evidence of the international financial crisis about to emerge so they have that evidence of a financial crisis about to emerge presumably they must have known that lehman brothers was going to blow that goldman sachs was on the verge of blowing that the entire financial system was on the verge of blowing what did they do probably just engage in insider trading because they certainly didn't warn the american public that's what goldman sachs and all the banks and wall street profited knowing that there was a collapse coming in two thousand and two thousand and one we know that from lehman brothers see n.b.c. famously was sold the line that lehman was about to go bust sold to them by j.p. morgan it was shortly my brother it was not actually going to go bust but when the

news got out that it was going to go bust you had a huge short selling attack on lehman and it went bust same thing with greece goldman knew was going to go bust the engineer of the collapse they profited from the collapse something on the subprime market same thing with the u.s. economy same thing on the european sample the asian economy same thing on the mexican economy insiders closing the event probing from the event and then claiming the markets did it we don't know what markets do yes of course you do this proves that what you're saying is the absolutely beautiful proof we've got financial terrorists who traded in the summer tourist information not just nine eleven that they knew was happening and profited from but it also you know america is now being a little bit more comfortable with embedding that it is a empire so one thing that empires don't like to do is lose their position as the world dominant power the u.k. didn't like it when they ended their dominance of the world in the early one nine hundred and the u.s. doesn't like it now and they you know james clapper is admitting here that we're

looking at other countries. economic policy and behavior which could affect global markets which could affect and impact their global dominance so this is something new in global history is that you know empires fall as they get old and lack innovation and a new guy comes along and takes over here it's like we're going to be stuck in some this is it this is a farce innovation could ever take that's because nobody else is allowed to compete with them all they're interested in that is making sure nobody can compete with them right well with other parts of the left they've left behind artifacts gyptian the roman here in america they're leaving behind a pile of worthless dollars and garbage and prozac in the in the water that's the legacy of the american empire and a twenty four hour news channel playing old ronald reagan stated that all these things be left between the landmass which between mexico and canada will be a pile of garbage so here comes the official denial from james clapper the director

of national intelligence he says what we do not do as we have said many times is use our foreign intelligence capabilities to steal the trade secrets of foreign companies on behalf of or give intelligence we collect to u.s. companies to enhance their international competitiveness or increase the bottom line no no no no no they don't do that they say and in fact the intelligence community's efforts to understand economic systems and policies and monitor anomalous economic activities is critical to providing policymakers with the information they need to make informed decisions that are in the best interest of our national security everyone sort of experiment focalin out of your pocket book in the air and say heads or tails and if you can do the proper heads or tails ninety times in a row then you my friend are probably in league with the devil well j.p. morgan goldman sachs and other banks around the world last year will report a quarter three months or ninety days business trading days of a flawless trading of winning bets every single day never had. a down day that's

a statistically about as probables flipping heads ninety times in a row or more so clearly they're trading on inside information that they can conduct and then manipulate markets and if they need to invade a country maybe of syria or some other country they don't care many people they murder a member of a million iraqi civilians murdered for wall street and the city of london they don't care they don't care if americans die best of that's the bottom lines to think america understands that americans are the new soon the new era coy the new indigenous population is going to get wiped out by jamie diamond he couldn't give a fig no matter how many people go down and of course we already know years ago under bush they allowed cia agents active cia agents to work for the likes of j.p. morgan and goldman sachs their moonlighting there so again that's another blurred line over this corporatism fascism you might call it but why did this james clapper make this remarkable statement why did he issue this on their tumblr blog right

well it's because of the n.s.a. revelations from snowden that went to glenn greenwald and he released them to global television in brazil and this is the next headline regarding to the reason why james clapper spoke at a say spying on petro bras if proven is industrial espionage rousseff reports that the united states spied on brazilian oil company petro bras if proven would be tantamount to industrial espionage and have no security justification brazil's president dilma rousseff said and she says if the facts reported by the press are confirmed it will be evident that the motive for the spying attempts is not security or the war on terrorism but strategic economic interests anyone in the world who thinks that the so-called war on terror is about security just look at the american population there unhealthiest an educated infant mortality bloated obese sick population in the world if america was going to learn about security you probably should not reflect a zombie nation of psychopaths looking for free money from the government clearly

it's not about to go. it's about corporate espionage it has been from the beginning we've said that from the beginning and now it's coming to light and brazil and other countries are right to abandon the us dollar you get rid of the us dollar you sever the link to the financial terrorists on wall street so petro process is presumed largest company in october twenty first option off the rights to their giant lever oil field is between eight and twelve billion barrels of oil in there this could impact. their decision whether or not they give any of these concessions to u.s. companies but also president we saw. zell is supposed to meet with obama on october twenty third and they were supposed to discuss four billion dollars fighter jet deal so that also may be off because they're very serious about this and again you know going back to my point that the n.s.a. spying is about economic sabotage as well as espionage and sabotage because the brics nations are what people say is the next superpower and together they are

displacing u.s. economic might so brazil is one of the most important of those and here she's got proof that they're spying potentially possibly sabotaging keeping them down from ever competing with the u.s. right well brazil would be foolish to get you know let this go on any further nation that engaged u.s. contractors for their oil reserves they should not engage in defense military contracts with us corporations they are a sovereign state and they want to try to be calm remember during the previous decades all of south america was a banana republic basle state of the american empire now that expired thanks to some democratic process any country that elected democratic leaders are fighting for the interest of the people of these countries similarly in brazil if they want to remain a sovereign state and they have the wherewithal to do so brazilian economy is a very dynamic economy you don't need a bell you don't need the u.s. you don't need the u.s. fighter jets you can't make it on or over so you can do. it would cut. u.s.

dollar please i beg you now finally on this story is this headline from mt weil dot com and it says james clapper is financial war on the world and they look at this the same memo that national intelligence director released on his tumbler and they say two things first of all he mentions that swift they're monitoring swift so this is the n.s.a. monitoring swift that we're all financial transactions happened to their well first of all those european nations already have a deal to give that information over to the u.s. government so why is why do they need additional information it must be more than just the war on terror and financial terrorism south so the other thing that he mentions however is that he mentions the word financial weapons he uses the actual word financial weapons and as it's all there people are going to use it well and he will brings up the fact that for example quantitative easing the likes of brazil have over the years called that financial war right brazil coin it's one of the

ministers of currency war and it's i was going out in the currency markets because that's what i think that many lend the attorneys were born that were on tethered to anything of substance like gold you had the beginning of what we now know in the modern era of currency wars and over the decades due to sophisticated algorithms and by regulating the banking industry you've been able to create concoct engineer financial weapons that what is that's what a derivative you swap assets in a bank in a foreign country that are collateral that you can use to build a sound economy with exploding financial derivatives that take down the country well in particular brazil dilma rousseff complained about q.e. explicitly she said it undercut brazil's exports at a time when the country was finally booming that goes back to whether or not america and the n.s.a. is a tool for economic espionage and sabotage. absolutely because the us at the end of

the day doesn't feel competent enough to compete they don't want to go and like a mafioso they just want to extort and six or seven versus competition. or more thank you max greg palast coming up after the break. i would rather ask questions to people in positions of power instead of speaking on their behalf and that's why you can find my show larry king now right here on our t.v. question more. fully

on your arm and a lot of these policies. pleasure to have you with us here today i'm sure. you're about to see an interview i did at a greg palast in new york city a few days ago before the weekend we discussed larry summers who only sunday night

dropped out of the race to be federal reserve bank chairman but not to worry the new front runner is get this larry's right hand boy timothy geitner enjoyed the interview welcome back to the guys report imax guys are very fresh as greg palast welcome back to the guys report glad to be with you max all right you are with another blockbuster piece larry summers in the secret endgame memo tell us about it well there was a memo written to larry summers who is obama's favorite to replace ben bernanke at the federal reserve board he got a very secret very nasty memo and somehow it ended up in in my hands i you know some thirty dropped that's how i work for those no greg palast i do investigative reporting in america not allowed under patriot act three but we do it anyway. so i got a hold of this memo which says the this is the end game so it's the end game memo it's kind of chilling words that came from his assistant

a guy named timmy geithner this is before geithner became secretary of the treasury when summers was about to come secretary of the treasury and it what it was was a discussion of the secret meetings that they were having with the five big bank c.e.o.'s in new york here in new york that the head of goldman sachs c.e.o. of goldman sachs c.e.o. of citi bank c.e.o. of chase j.p. morgan city the bank of america c.e.o. they were having secret meetings to decide us. economic policy and foreign policy really serious stuff basically this was the the conspiracy nuts fantasy you know you have the bankers secretly meeting with treasury officials designing the details of banking regulation policies it's as if the bob got together with the police chief is like a bad scene on the godfather so i disclose this and of course i had to do quite

a bit of work to make sure it was real one is that it actually the memo to summer saying remember call the boys the memo to summers actually have the private phone numbers of the five big c.e.o.'s and so i called one of the c.e.o.'s private numbers and sure enough no secretary nothing straight to the man i had to wonder b.b.c. rules say who i was and when he found i wasn't larry larry summers click and all the other numbers were changed but i travel all over the world confirming this memo to geneva to ecuador and darkest new york as well. this is part and parcel of the pattern the energy industry the regulations are written by the energy companies and you've covered this in these various global energy catastrophes and corporations in these various countries here you've got the banking industry writing the regulations that's supposed to be overlooking overseeing the banking industry and of course you lead to this catastrophe two

thousand and eight that is the five year anniversary and as some of the scribes and now there's been a lot of back and forth discussing this basically waiting out the statute of limitations which will expire so and then second thought about that well you know the reason why this memo is dangerous is engaging memo it wasn't about the banks talking about regulation it was talking about deregulation or what i call the criminalization. this memo was about requiring every nation in the world to join in the u.s. hold hands jump off the banking deregulation cliff that you would a limb in a. rules against derivatives trading we have to call it selling water stock you can go to jail for that and you know selling to security which didn't represent anything you know. so allowing derivatives trading wasn't going to cause some of the futures modernization act in two thousand i believe i guess the instance was when they decided that the revenue were no longer gambling instruments and so they

would be regular as gambling instruments and that they were financial instruments and they came under a separate regulatory bodies but now you're saying that this is yet another chapter in this whole process of making everything completely legal no matter how speculative or dangerous of it right what literally used to be criminal which was to speculate on currency movements abroad to sell securities which had actually no asset attached to them if we called watered down securities go to prison this is the criminalizing rogue banking it also said the decriminalization of banking was made worse and took down the planet because the glass was cold larry summers again we want to go back summers was behind the summers wrote. that law about derivatives saying they're not only legal but you can't regulate them in the case of what's called the glass steagall act we took regular commercial banks your savings banks your piggy banks and mix them allow them to mix up and use your government insured

deposits to gamble through investment banks on derivatives and other speculative junk it was like saying ok we're going to replace. bank vault with a roulette wheel so summers is the daddy of the deregulation disaster and yet obama's talking about making him the most powerful economic official in the world incredibly powerful plus under new laws the fed is also the number one banking regulator so he can be regulating the banks that he let run amuck. and by the way who have been his clients this guy's worth now about thirty seven million dollars. selling his so-called consulting services to the very banks that he let run amuck bank accounts i know you covered the stories around the world and also in the u.k. as you mentioned b.b.c. and then the great help dot com of course the web site people don't get all the latest i want to talk mentioned quickly mark carney is now running bank of england

he came over from canada and he has another x. baldwin guy and he doesn't fall under the same umbrella of this corrupt you say that the fed is the world's global central banker so does mark carney in effect works under if larry summers the governor fed chairman reports central areas that the reverse larry reports to goldman sachs if you read the endgame memo which is at greg palast dot com if you actually read the memo it said summers has to report to the head of of goldman has to report to the bank of america and they're not allowed to do anything with the call these five c.e.o.'s and by the way you know the secretary of treasury can call any damn banker that they want but they can't do is do it in secret and they can't give these these bankers inside information or allow them to change the policies and the actual regulations of the united states and in this case was also changing our trade policies we are the point of the end game was

to require every nation in the world to throw out all their banking police. and the way they did they went to places like ecuador and they said you want to sell us bananas you're going to sells your goods we're going to sell it we're going to sell you our bats are derivatives no bananas unless you accept our derivative africa good bad or good and you know larry summers was infamous for once saying that the third world does not accept enough toxic toxins in boys and toxic assets he wasn't people always talk about chemical and he may have been but he was mainly talking about toxic financial ass. it's a third world doesn't take our rivers junk they won't take our sub prime synthetic collateralized debt obligations isn't this that's a real derivative by the way or put on real derivative but that's something the junk that goldman sachs was selling at before larry summers got into treasury was completely illegal even have these things they didn't exist because it was against the law ok so the memos affected the smoking gun yeah well i think that everything

that you've written about the math i've been about over the rolling stone about all the shenanigans and criminal activity of these major banks is now verified confirmed by the smoking gun memo and they're putting the guy who recommended that all these countries around the world are not accepting enough toxic securities to bankrupt their nation and now running this federal reserve bank that's what obama wants to do and you know you have to keep in mind how did this happen why would obama take the guys known as the typhoid mary of economics and give him the top job the top job in the in the u.s. economy and the answer is that obama is a picking summer summers and his career picking obama summers mentor and his guy is robert rubin at the time c.e.o. goldman sachs and later chairman cochairman of citi bank. jamie diamond and penny pritzker of superior bank jamie diamond of j.p. morgan chase who found barack obama

a state senator who ever you know who ever heard of this guy they got behind him they raised three quarters of a billion dollars to name themselves a president within hours hours of his election. obama named somers. and his dog's body geitner to run the u.s. economy within hours meant that the deal was cut as part of the election deal and there's a sense in the bankers boys this is very dangerous stuff because he works for these guys he works he literally want to say he works for these guys and i mean it's not a metaphor he gets checks he's made millions to people who think or say that this is a victimless crime let's remind people that's going on here using the revenue and dipping interest rates artificially low and it's a way to shift the wealth of a nation from the nation if you speculate on what this way it was illegal until this memo went into effect until this little cabal and that's exactly what it is.

that it was illegal to do derivatives on foreign securities and foreign currency goldman did a secret currency swap deal on euro with greece when it got exposed and blew up it turns out that greece instead of making billions on this deal it was a phony they lost billions and that is at the heart of the collapse of the greek economy the second thing was that goldman was selling. collateralized synthetic collateralized debt obligations on subprime mortgages i know it's a mouthful it's even more complicated than that they were betting on the destruction of the u.s. mortgage market when the mortgage market collapsed in america goldman and its t. clients made four billion dollars at the defense of other clients at the expense of other clients and expense of this planet and i have to tell you that one of the people that confirmed the contents of the memo he didn't give it to me i guarantee you is joe stiglitz

a nobel prize economist who was in clinton's cabinet and he said that summers was sitting cabinet meetings and when they would talk economic policy he would turn to rubin and say what would goldman think of that whole gold and think of this so finally signal it said to him in front. president the united states you know we're in the west wing you know i mean why are you know why us would go that would think about what's the best policy for the american people and they looked at him like you know he just fall off a watermelon truck and they got rid of him another i mentioned that cheney play another journalist up there writer john perkins and it's confessions and they get the kids and mine and you with your books and you know it's like another chapter in this idea where the u.s. bankers are foisting all the junk on these foreign powers and in exchange they give him stuff you know at an income producing assets real assets all get mineral and then up with the toxic securities and blow up on the balance sheets as they're guaranteed to blow up on these balance sheets and lo and behold these guys keep

getting wealthier during the five year crisis the past five years the top two or three percent net worth doubled in quadruple or is everyone else completely bankrupt and they say it was an accident well look look at the look at how much money these five guys have made the the five c.e.o.'s of the banks that larry summers was was playing footsie with they made absolute killing i mean the only one that's in trouble is john cores and is about to go to jail from goldman because he did the no no stealing from from the other boys but. you know this is been one of the problems and you have to understand like i said stiglitz said always ask what does goldman think and what goldman flawed is that the world economy would collapse and they can make a fortune off it that's the sick thing so like these guys were you know like patrols this is not the plato's idea of some plutocrats who are thinking the best of us little people they're saying you know if we can wipe detroit off the map imagine what we can do betting against the city what if we bet on people four

million people losing their homes and that's what they did and if we not just bet on it make sure it happens make sure it happens that's the deep evil of this these guys made sure the collapse happened because that's where they. put their money on collapse ok they cry out they remember what a great bell that is a smoking gun and if you meant to have to incite into this evil incarnate larry summers who looks like he's going to be that terrible so thanks so much for going to guy's report read it time and again soon we will and that's going to do it for this edition of the guys report with me back either thank you very much but i guess greg palast a great talent you can buy a twitter report but i'm back going by go to. her. ok. ok. ok

ok. because. it was. going to be very hard to take a while to get along well was he ever had sex with her three year. period. we. were. going to go to

the for the because of the. so they are larry king now from the pan arrested development day it's tony hale i remember doing buster you're in this kind of like a masculine ated hyper sensitive state all day long and that i would come home and my wife would say something i'd be like ok. i literally did a thing called shakespeare in the parking lot but i did it but it was actually my first taste of the new york audience and you'd see people walk by and then they said they listen and then they go now i'm done plus i realize i put so much weight in expectation on making it that nothing to not all next on larry king now. we're going to.