welcome to the kaiser report imax kaiser so ben bernanke he is all print no taper as we said all along the fed will never taper it was a hoax from the way the very beginning but then you don't become the greatest hedge fund manager in history without duping other market participants first. execute trades based on mark manipulation and trading on inside information do you think. it would appear that the fed as you have said many times all along many of our guests have actually said is that the fed is like a hedge fund which apparently is something that warren buffett agrees with and

thinks is a great thing the federal reserve is the greatest hedge fund in history says warren buffett the eighty two year old who has led berkshire hathaway for more than four decades hailed the fed's ability to make money from bond purchases as a result of quantitative easing which in five years has more than tripled its balance sheet to more than three point six trillion dollars the fed is the greatest hedge fund in history he said yeah right ok it's a four trillion dollar hedge fund so if they want the price of stocks to move up they go in and they buy stocks they buy us and p. futures if they want the price of gold to go down they sell gold they sell naked futures in the gold market they work with banks on wall street selling futures contracts they move prices where they want prices to go so in the case of stocks they like to move them higher because the dow jones according to alan greenspan another federal reserve chairman saying that everything that they do in policy in washington is to make the stock market go higher forget the fact that

a vast majority of americans don't own stocks vast majority of americans are on food stamps are not the majority but a huge percentage are on food stamps and. since there's nobody in washington or on wall street who has a food stamp edge fund if there was then the value of the food stamps would double and triple the purchasing power so you'd be getting much more in your food stamp if you had that multi hundred billion dollar food stamp industry being controlled by a hedge fund manager like ben bernanke you but unfortunately the people on food stamps don't have representation so as a hedge fund and not hedge fundamentalists hedge fund business and then this has fundamentalists that's a work without representation well actually i might point out that the day after the fed announced it would not taper that it would continue purchasing eighty five billion dollars in bonds from wall street giving them free money. congress the republicans in congress voted to cut forty billion from food stamps so you know the

fed printing is of course going to make the price of everything rise including food but you know just for you out there i want to show you this definition just from google of what a hedge fund is and ask yourself whether or not you want this from a central bank which is supposed to provide monetary stability and price stability it's a limited partnership of investors the limited partnership being the banks on wall street and a few rich guys that uses high risk methods such as investing with borrowed money in hopes of realizing large capital gains right won't the fed is leverage fifty think it's close to sixty to one same thing with deutsche bank in germany and they have a portfolio of bonds and those bonds because the economy in america is not adequate enough to pay the coupon or interest rate on those bonds the fed itself has to buy its own bonds or the treasuries bonds and they do this by creating their own money and they go into this vicious cycle and you point out that while warren buffett was

saying that oh the federal reserve is the most successful had flown in history yes congress voted to cut back on the food stamp program so the food stamps for wall street which is quantitative easing has been kept in place and i predict as many have that the eighty five dollars eighty five billion dollar a month. quantitative easing will be increased food stamps were curtailed and of course. the hedge fund that is run by the u.s. federal reserve has been one of the best performers. s. and p. five hundred for example is up twenty percent this year so you can kind of say that's the fed's hedge fund performance but even warren buffett who is there pushing ben bernanke he to stay on this fed chairman buffett said that the fed's eventual exit from its monthly bond buying program will carry unforeseen risks quote we are in an experiment which hasn't really been tried before he said adding

that quote buying securities is usually easier than selling securities right i quite this was swallowing a porcupine but hey when you swallow a porcupine the quills are facing out and it goes down without a problem but then try ripping the porcupine out and the quills are now facing the opposite direction in a rip your entire sophos apart and this is the what awaits the chairman when he tries to sell his way out of his predicament but of course will never ever sell as way out of his predicament because before that even becomes an issue they'll be a global crash which will precipitate a global conference to re architect the global financial system and the u.s. dollar instead of just crashing the merits of having a psychotic named ben bernanke in charge it'll be crash because there will be a new central world government that will reprice the dollar about forty percent cheaper than asian currencies then they are now you know warren buffett is pushing

ben bernanke you to continue as fed chairman so i want to turn to this next headline of why warren buffett is out there banging the drum for the fed policy of continued quantitative easing druckenmiller fed robbing poor to pay rich the federal reserve isn't just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich according to billionaire head. fund manager stanley druckenmiller and let's turn to this little clip from c.m. b.c. i was approached to assure markets our love the story ok because this is very interesting it's for every rich person this is the biggest redistribution of wealth from the middle class and the poor to the rich ever who owns the assets the rich the billionaires you think warren brought her here to stop and you think i hate this stuff i had a very good day yesterday ok right well stanley dr miller of course is. a rare ray of sunshine into this corrupt swamp of wall street and b.c.

and financial media and he's pointing out the obvious that quantitative easing is a wealth transference mechanism and the people who get this wealth believe that they're the chosen people they believe that they're god's chosen bankers on earth that they have the some kind of rights above and beyond human rights to be given billions and billions of dollars because then their activities trickle down to the benefit of the of the unwashed those morons out there that they routinely stab in the back and that's they have a god complex well actually druckenmiller brings this up this notion of the trickle down and he's saying he soon that the theory coming out from the academics at the fed is that it's going to trickle down he said i mean maybe this trickle down monetary policy that gives money to billionaires and hopefully we go spend it is going to work but it hasn't worked for five years let me explain what's going on here with a you know graphic metaphor it's like the hoover dam or any huge dam they they

build up quantitative easing which is this huge dam which creates power hydroelectric power in this case which is then given to the folks like warren buffet for free but everyone who lives downstream from the dam has been deprived of the benefits of that flowing water there in fact there are now done their toes. they've been destroyed so this is creating a financial dam in the flow of what would normally be a flowing economy that has many stakeholders and many many many beneficiaries but when you put in a an artificial dam like quantitative easing and you give away all the power to people like warren buffet you create what we have now you've got a few people to have yachts and the have nots what he does also mention that is that earlier as you saw that he said that you know this artificial wealth of facts . like the dam the down will one day break and it all just evens out and it goes

back to where it was and perhaps even worse because quite a few villages got wiped out along the way as you know the water came flowing down once you stop the quantitative easing you're going to have that well that won't then that amount of extortion and it's a matter of what i call financial terrorism because he's saying that look if we if you want to take this dam away that gives warren buffet free money every day then you're going to suffer the consequences of a torrent of cash which comes into the system and causes hyper inflation so they're threatening people out there living day to day food hand to mouth with hyperinflation they say either give warren buffett another eleven billion dollars this year we're going to unleash hyper inflation on you and you'll be able to feed yourself or your family well i want to look at two little short stories here at the end to compare the situation of what we have with this quantitative easing and you can see it in the real world these in these two analogies here these metaphors twenty two tonnes of fake beef seized in china and you mention the problem of

feeding the population well the beef in these in this seizure of fake beef was actually made from pork which is considered really cheaper than beef that had been treated with chemicals including paraffin wax and industrial salts to make it look like it had come from a cow so they sold three thousand pounds of this and they took the mark up but this is exactly what the fed is doing with this quantitative easing is it's creating fake wealth. but they're taking the vig the scoop they're scooping out the extra profit on selling us fraudulent money basically that in this case is fraudulent meat in that case of the united states monetary policy they're selling us fraudulent wealth while the world the word in economics is called counterfeit counterfeiting and that's exactly what the fed is engaged with so whether they're talking about creating counterfeiting beef products or pork products or meat products the fed creates counterfeit money through quantitative easing the money is counterfeited they counterfeit it into existence and they give the counterfeit

money to people like warren buffett who then spends it to buy huge stakes and controlling stakes in these huge corporations that were built up over decades by workers and with the assistance of the federal government building the highway system and all the other infrastructure of america and so then warren just takes it from stop it becomes a wrench he becomes a lord over these income producing assets that somebody else built he is the look lemo parasite of america for forbes magazine award of them this past year the cover story number one parasite the world warren buffett and he deserves a title by really people are literally getting palm wine surgery for better fortunes apparently the story here is that people are getting in asia are actually scratching into their hands or getting surgery to create better fortune lines with the hope that somehow that might create a better fortune and here is this is the that as warren buffet points out that this hedge fund experiment that the what the fed is doing is truly an experiment we

don't know what it is doing but we do know it is absurd as trying to change your fortune trying to change the fortunes of america through etching in this line of take this money this money and hopefully it will trickle down well this is a trickle down god complex you know you can god is meaningless you're just going to put your palm in such a way as to alter your destiny alter the cosmic reality i'm just going what you know is going to get cut your head off cut your head off and this. your fortune old improve instantaneously ok top yourself do us all favor prices never thanks much bring on the guys report thank you stay tuned for the second half of all or. told you my language as well but i will only react to situations i have read the reports and like you know i will leave them to the state department to comment on

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wish to. play for a long time inflamed good player playing player. just simply look and i'm. right i'm a better little guy. if. peace peace peace peace peace. peace peace peace peace peace peace. peace. say.

welcome back to the kaiser report imax keyser time now to turn to precious metals expert andrew maguire andrew welcome back to the kaiser report it's great to be here again max all right andrew maguire you have news of a j.p. morgan whistleblower tell us about well in fact two so basically i think you know this i decided to go public about this quite recently i've known about this for quite some time but basically the reason the subject came up was because there's a five year window on it investigation and a lot of people were very concerned about the fact that this whole silver silver gold investigation would be killed so that anniversary is this month the silver manipulation scandal that was uncovered and prompted an investigation and so this idea that the statue of limitations might be coming up soon so so then from there

for what happened right so obviously a great deal of frustration you know that i've been involved with submitting a lot of evidence to the c f.t.c. i was actually approached and this is the part that i haven't discussed i was approached in i guess i will of last year by two j.p. morgan employees both of whom who claimed to claim came to me and said look we've got evidence that pretty much backs up the same period of evidence that you appear to have publicly disclosed and they submitted a formal in a formal submission to the c f t c now i know that was done in june two thousand and twelve so well over a year ago and i want to paint a picture here because on one hand you've got warren buffett who's saying that the fed is the greatest hedge fund in history and biggest hedge fund in history he profits mightily from their activities their money printing that goes almost directly into his pocket completely bypassing the real economy the general economy then you've got you've got the l b m a and you've got the c.f.

. you see involved in a market manipulation scandal on something called gold and so over which is the antithesis of paper money so you've got to scandals your quantitative easing that makes rich guys fabulously richer and they contribute nothing to society they're just paper pushers they they do nothing more and adds nothing versus people who work for a living to make something they want value for their money their hard workers are savers they rely on gold and silver to. maintain their purchasing power and those prices are being manipulated as you pointed out through your whistle blowing through that you want out of your show to see if you see tick by tick by tick when the manipulation is going to happen how it was going to happen and it happened exactly as you said it was going to happen and there's still jacking their feet they've got two more whistleblowers coming forward the stakes here are you represent the interest of everyone who's not let's say on the teat of the federal

reserve system the bank of england system that the ne'er do wells the the the guys the welfare queens like warren buffett you represent the real people out there the honest people would you agree with that absolutely and you know it's very frustrating max you know you just described very well i mean the fed is probably let's just say the largest hedge fund in the world there's no more markets i think i don't know it was chris powell coined the phrase there's no markets there's just interventions and what really annoys me is that when you can get actual evidence provided by a firm which is no soon to be manipulating in other markets energy markets other metals markets and see if the c.e.o. the regulator that this is the body that's supposed to be controlling these things has actual evidence in their control and a year and several months later i see nothing i hear nothing i mean obviously makes one really frustrated and i have spoken to one of the commissioners who i believe actually be a good guy and

a lot of people don't believe this but i think part chilton commissioner show and he's actually one of the good guys and he told me very recently that should be agency and he's frustrated he's he's annoyed and he said that if nothing is done with the agency doesn't come out and talk about anything in this month of september he will so it doesn't because i've mentioned bar children on the show in disfavor in a negative light i mean to me he seems like a guy a stalking horse somebody put out there to make it appears they are do start doing something but info. at the end of the day you know but it's not a daily thing but in your opinion you feel as is sincere and can make a difference you know i think that if you look at the agency and i think i do have an insight into the agency you have various different departments obviously they will have vested interests the policeman the guys that wear the policeman hot they're just these are guys a straight up investigators they can actually come up with a an investigation and

a and they can present that stuff to the commissioners that's where it falls down is that the certain amount of commissioners are always voting against any form of transparency any form of action and i think the whole reason is is that a lot of these interventions are obviously sanctioned by someone very high and i would obviously say it's going to be the fed or the bank of international but all of buffet says the fed is an enormous hedge fund of multi-trillion dollar hedge fund and the beneficiaries of their actions are the folks that are now in the fortune four hundred as having double or triple their wealth the last five years at the same time when austerity is being rolled out yet there's clearly a complete bastardization of these markets since we had your last j.p. morgan has been fine for rigging energy markets they've been involved a course in the london whale sued by fannie mae for fraud under investigation for bribery in china now one point is the penny dropped and somebody says you know what these guys are on lot of assyria lawbreakers and you've got us terry rolled out.

in appropriately in the face of quantitative easing and federal reserve policy that is clearly being manipulated for the benefit of a few rogue what i call financial terrorists but guys like warren buffett at the very point that publicity get shine shine upon it now you know we all know that the libel scandal went on for fifteen to twenty years i think the regulators must have understood that there was an issue there it was only after the ball injury by all got made public that any kind of charges got laid and that's the whole point now is to draw attention on the fact that not a. is that evidence in their control not only is the agency has discretionary discretion not to close any investigation because it's not quote unquote law but they do so that the it would be highly embarrassing for the agency not to actually move forward at this point so you're saying there's two more whistleblowers little keep this alive that are coming forward to have come forward have come so things that things are moving forward now i want to talk

a little bit about the nature of this market because your day job if you will is you were there basically timing service for a gold and you're putting out some signals that people can investigate when they they can they can find out more online but when you are providing this service you have to play a bit of a metal game in other words you know look at price and supply you know look at the fundamentals you look at basically playing the players if you will the players in this case and i bring this up because the taper talk in other words the fed was going to taper a lot of smart people i know you do a lot of work over there talk to eric world news a lot which i'm also a big fan of. they talked to said it was a hoax from the beginning they would never be a taper you can't taper over like bernie made off suddenly saying oh i'm just going to start returning people's money in without committing my ponzi scheme each this is a ponzi scheme and you of course those to sort this out so it's not my in my correct

in saying you have to anticipate the criminality here you're like a forensics criminal criminologist in order to put out your service because you have to dissipate their crimes and the taper was a hoax correct absolutely a hoax and here's the key we can actually watch the footprints and the when when a fed sanction bullion bank take down the they come in to move the markets very quiet times of day much like four hundred. so would often the pay comparable markets in april very recently talking about taper as recently as long. this week all of a sudden the day after the c o t cutoff the reporting cut off for the for the strange of course the price dumps in the early morning markets one o'clock in the morning two o'clock in the morning who's around at that time of day very very liftin liquidity those kind of footprints are so obvious because the regulators can pull that ticket very quickly and say hold on a minute who the hell would dump that many contracts at this time of day at

a certain support level that is commonly watched well who would do that and obviously they do it with impunity so it must be the fifth it leads right back to a fed back move and of course so what they do is they drop that they already know the banks they're obviously trading on inside information at this point but you know there's going to be no taper it's not a surprise to these guys they're told to take the market down so what the same time no wonder they get along in the futures market because they already know that they can actually draw in a lot of short supply they can actually bring in synthetic supply they can actually force out a long long long holders and lo and behold look at talk about footprints thirty minutes one hour before there's no taper announcement suddenly the price of gold drops up fifteen bucks well who that hell is making those kind of plays before a big big announcement nobody but let's look at the straddle a bit more because the economy is stagnant if that contract thing the idea of tapering or rolling back on the quantitative easing the free money printing is

ludicrous. gold is obviously sensitive to paper money or currency debasement and as currency is debased it would trade higher without that artificial dump of gold pre taper news gold would have probably jumped to over two thousand dollars an ounce based on this idea that the fed is completely out of its depth it has no ability to rein in their massive hedge funds skullduggery and of course of gold gets above to a new all time high then the entire mindset of the world's traders and economy is that oh my god they're really are out of control we need to buy gold and then the entire facade cracks and this is why it's important to keep the price of gold down correct absolutely correct and below certain technical levels that would automatically draw in both physical and technical buying so it's all a game here just in

a cut in technical buying being that more or less computers are programmed to buy and sell at certain price levels in the case of gold it's like there's an important level of fourteen hundred just that four hundred level that if it starts to get above that level currently computers driven by money financed by the fed which their cost of money is zero and their ability to sell short naked contracts yet as counterfeiting contracts is infinite they just jump in and pray and dump the price iraq salute the downside of this for them is that you can you could say the comix is the tail that wags the much larger sport market dog which is the b.m.a. market where you just discount through since i think synthetics a point through the paper markets you ending up it's almost alchemy at its best because you end up with a price that someone can actually convert that paper price into physical in london so what's happened is as a rote result of defending the dollar you go you go short gold you're going to long

ago that's where the fed do it i mean so you know one of the in. reversed awfully because of that going to turn the lead into gold you know here turning gold into worthless paper yeah it's reverse alchemy reverse and right and who stoppers the people who are suffering austerity the people rioting in greece the people who are on food stamps the people who are economic the rest the people who are you know being slammed by warren buffett there's a there's a victims in this there's not a victimless crime correct it's not a victimless line on the other side of the fence you've got someone like asia most of the east and central banks saying thank you very much we can rely on the fed to do our work for us and we will pick up that physical so yeah you're right except the inverse of that is that physics is turning into an allocated physical which is being drawn down and moving from west to east so far in the east it is alchemy quick as you're able to swap your asian currencies for real stuff at an artificially cheap price and we're off as a trade is great and look at exists that is i mean that is traitorous moves yet i

just saw george osborne's head roll out the back oh i'm sorry that was it was a log i got it i got that makes them all right anyway we're out of time andrew maguire thanks again for being on the kaiser report max it's always a pleasure. all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert and i'd like to thank our guest andrew maguire if you'd like to get tweet us at kaiser report and backstabbers a bio. the island is so small the termes it's the center see the center of the universe. on a tiny island the size of a football field in the middle of a lake stanza ruined monastery forty years ago two lovers decided to spend their

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