but that's just my point. i was convinced in all my interaction with iran that. iran was nonce determined to make nuclear weapons but it was important for them. and identity. of the sea and shown a sense of dignity. stars are welcome to the kaiser report you know last year the group real food for kids based in fairfax virginia convinced local schools to replace additive infused pink slime burgers we one hundred percent all beef patties the students however upon and

countering the one hundred percent all beef pink in the middle of their burgers complained that the burgers didn't look or taste right so for facts county schools have switched back to the twenty six ingredient caramel colored quote unquote burger and the students are happy once again that's right once you go pink slime you never go back the same effect can be seen in our economies and financial markets in the u.k. for example nobody likes the look or two of a real housing market with its falling prices and lack of demand for overpriced houses so each out down on george osborne's pink slime ponzi aka help to buy scheme over the monetary universe while we like the look and feel of gold we hate the feel of actually having to pay for all of the goods and services we import from overseas and so instead we use the pink slop of currencies the

dollar the u.s. dollar stacy herbert this horrible yes max and once you think of it you can see it everywhere you look from our education system where everybody graduates with a straight a's and yet they proceed into the rest of the world where they have no skills not even basic literary skills as we found out this week we also for democracy which is the pink slime of political systems rather than a republic because we don't want the challenge of keeping a republic and we see that in the financial markets where we prefer i.p.o.'s that pop we like everything to be. easy easy profits right and we saw a bit of this psychology in this first headline here tweeter changes stock symbol after twitter confusion so tweeter is a home entertainment company which is bankrupt and people confused it for the stock symbol of twitter because twitter is and will be t w t e r this company is t w t r q so twitter which doesn't trade at all many days and often for less than

a penny when it does rallied on huge volume friday some investors mix it up with twitter which last week revealed plans to resort to one billion dollars in a public offering and will list under the symbol t w t e r so shares rose up to two thousand two hundred percent at one point and fourteen point four million shares traded camping on the theme of pink let me add a little anecdotal flavor to this story when i was working as a stockbroker these types of stocks that were illiquid and traded very infrequently were listed on what were called the pink sheets which were available in brokerage offices around the system so here we have a pink sheet stock or a pink slime stock which is bid up a thousand or two thousand percent because of the misperception that because it shares a similar trading symbol to a stock that's not even listed people decided to barrel in there and see their

gains rise spectacularly before they figured out that this was not exactly what they thought it was and then it crashed just as readily but i get your point that whether it's pink slime in our burger or the pink sheet stocks in our portfolios we don't want the real thing we want artificially ality artificially ality is what everybody once they have lost touch as the children have demonstrated with the real the real is no longer something that can be appreciated through the tactile senses because the tactile senses are becoming extinct well when they reopen. markets on the stock it was that it was listed as. down eighty four percent back to below a penny but i did think wow all these people are so stupid that they don't even realize they're trading this this company that's not even twitter and then so i went to the nasdaq dot com and look at it this is an image from nasa that that top com when i entered t w t r which is twitter's handle this stock is currently not

trading this it the tweeter home entertainment group incorporated i.p.o. page for the latest information regarding the i.p.o. so it was mad as that that it was the one that sent people to tweet or well this brings up a couple of different things like search engine fraud so nasdaq just allowed for a search as an substitution to go in there with a stock market symbol should have been it also points to the fact that these markets whether the nasdaq the over the counter market or the new york stock exchange or these other various exchanges and futures markets around the world are continuously breaking down now because the whole price discovery mechanism has been substituted with virtual price discovery technologies of course i invented those back in the mid ninety's but they have replaced the actual guy on the floor of the exchange swapping stock what was called then the post the various posts at the new york stock exchange were men would floor brokers would trade stock that's all been replaced by electronic virtual market making a virtual market making this is where all the fraud comes in states is that in

a virtual market making some area the orders to sell or buy are not represented by any human beings and the computers have no way to determine whether they're fake or not and that's why we see incredible manipulation that's why goldman sachs always whenever they're caught manipulating the stock market they say well we're making markets that's code for we have a virtual market maker committing fraud that you can't trace back to us because there's nobody actually doing anything on the floor of that has any accountability it's all fake it's all virtual it's all artificial ality artificial ality and it's all what it's all. now today so this just is part and parcel of a growing. growing artificially ality well the pink slime of drugs maxes and our next headline and that's crystal meth because there's a new headline out world drug reports reveals the staggering extent of north america's meth problem so the two thousand and thirteen world drug report by the un

office of drugs and crime oh no d.c. i call it because i think it's sort of the name of the cartel name for a washington d.c. d.c. and apparently most methamphetamine laboratories continue to be reported by the united states where their numbers quadrupled from two thousand seven hundred fifty four in two thousand and ten to eleven thousand one hundred sixteen in twenty eleven now the thing is the purity is also up to breaking bad walter white heisenberg sort of levels it's over ninety percent now most of the purity is up to ninety percent by the cartels right well purity is a bit of a misnomer here because you're talking about something that's fairly artificial in many ways or stuff like cocaine comes some of the coke up plant or you know even heroin comes from you know a biological source or one not is of course grown as a plant but crystal meth is a derivative you could say is a derivative like the hundreds of billions and trillions hundreds of trillions of dollars of the derivatives contracts that have infected the global economy and

destroy people trading on the trading desks of various markets when they're trading for the bank that are not supposed to by law but they do it anyway as was the case with the london whale here in london another crime committed by jamie diamond that's to crystal meth of trading as to crystal meth and derivatives are essentially the same thing it's analog so when jamie diamond doesn't necessarily go down and cook up a batch of blue crystal meth like walter white but he allows for his prop private area trading desk to trade derivatives against the law that's the equivalent of methamphetamine small. we see in the big banking sector and the results are the same you have a crippling of the economy and there's of course whatever the fed chairman might be at any given moment is cooking up more mess with more derivatives more artificial money and more virtual market making well you know the media in the us focuses mostly on the shake and bake sort of labs these home labs where they they mix up some cough syrup and starter fluid and so you know the ice packs his blue ice packs

they put some of them being greedy and sent to their the shake it up and they get they serve it i remember when i was a kid if they had a campaign that you should eat paint chips because it gave you rebel low today people really are promoting the act of smoking paint chips as a way to get high cheaply i mean that's a huge difference from forty years ago. so according to this data from two thousand and seven to twenty eleven the purity of available math in the u.s. skyrocketed while the price tumbled from two hundred ninety dollars per pure gram to less than ninety dollars a combination that hooks people in the fast intense and long lasting high so it's ninety percent pure but eighty percent of the math in the united states comes from the mexican drug cartels in particular one the sin alone cartel now this article in business insider very mainstream publication they say this in a low a cartel led by mexican kingpin joaquin el chapo guzman accounts for eighty percent

of the u.s. meth trade it should be noted that there are allegations that good men who was on the forbes list of billionaires from two thousand and nine to two thousand and twelve works with the u.s. government. that should be noted i'm noting it right now i think we all should know that guzman the kingpin of mexican methamphetamine jailers works with the u.s. government by member states as we reported on the show the two thousand and eight financial crisis was driven in part from the closure of the cambio money exchange shops. connected to the mexican drug cartels which shut off the supply of actual physical dollars as member we live in a fractional reserve banking system with very few actual physical dollars but when they cut off the supply as part of the beef that they had with the u.s. government who decided to crack down on that and that money laundering and this includes of course h.s.b.c. they cut the supply of cash off which in turn caused the financial crisis of two thousand and eight it wasn't only until they turn the money supply back on that we saw some liquidity return to the market you know what we're going to get spent in

one moment but i want to point out that in light of silk road being shut down this sentence this statement here about sin aloa is interesting in court documents a high ranking member of single lower currently in u.s. custody asserted that those men as a u.s. informant sent a low i was given carte blanche to continue to smuggle tons of illicit drugs into chicago and operation fast and furious as part of an agreement to finance an arm the cartel in exchange for information used to take down its rivals won't couple of things first of all in other words sin aloa the mexican drug cartels is subsidized by the american taxpayer so why don't they list sent a low on the new york stock exchange why can't i buy shares instead of lois since i'm paying for said aloa why can't i buy shares in guzman if in fact i'm paying for mr guzman ok i should be able to buy soda low and they should listed on the exchange and they should list a properly with the with the correct symbol for trading which would be m e t h for

meth yeah i want to buy mexican meth cartel profits today on the exchange in the fact that that's not available to me shows you the asymmetric warfare going on between shysters on wall street and the fricken money launderer. of the mexican drug cartels and you and me the frickin investing schmuck that doesn't have access to the real good stuff so finally here is an image this is two hundred to seven million dollars cash and this is in two thousand and seven about two hundred seven million dollars was found in the home of a suspected cartel supplier of meth precursor chemicals the pile which weighed more than four thousand five hundred pounds is considered the largest drug cash seizure in history as you pointed out in two thousand and seven is when the liquidity crisis began the u.n. this week you know d.c. which i like to call it they're the ones that pointed out that the liquidity crisis did start with this and that the cash once it came back into the system from the drug cartels provided liquidity to the banking system so in light of the debt ceiling talks coming up we need money to liquify the system right there's janet

yellen should put on a big frickin mustache and carry around a six shooter and like to make a forty seven and give testimony before congress and then during the federal reserve's quarterly statement to the congressional oversight committees and she should cost of janet yellen this mom then confidence will be restored to the u.s. dollar and the u.s. bond market moody's and fitch would have to upgrade the bonds of america from doubling to aaa if janet yellen wore a mustache occur to make it forty seven and talk to the people in congress in spanish about. this it would be huge boost for america if they see over thanks so much for being a report thank you max stay tuned for the second hole for them a lot more.

the recent history of those quite a few examples one can really tell and concerns were used as a let's say partial political action which you believe to be. true. a humanitarian intervention you participate in the descriptive taishan danger to. neutral an impartial humanitarian mason. 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 albums. in fact the single biggest threat facing our nation today is the corporate takeover of our government and across several we've been a hydrogen ally

a handful of transnational corporations that will profit by destroying what our founding fathers once told us i'm 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 you're trying to fix rational debate and a real discussion of critical issues facing america by the book you know ready to join the movement then walk a little bit of. a mission. i couldn't take three days for charges free. range month three lists three stooges priests. download free blogs just plug in videos for your media projects a free medio dog a hearty dog tom.

welcome back to the kaiser report imax keyser time that it's our generals of the real company gena welcome back to the kaiser report for having me all right so the word of the street is janet yellen she might be the next fed chairman what's the deal is it what do you so it's all is well my first reaction was nothing much is going to change you know she's already named to be a member of a. meeting say she's already kind of easy monetary policy. inflation to one side if you know she thinks it's going to make things right employment you know other policies that the fed try and push and in terms of where we're coming from in terms of gold market action is we can just carry on sort of down the same powerful we thought the fed were going to dig she's been very supportive of the policy has been put forward so far ok eighty five billion a lot of quantitative easing what's the chances that she'll raise that i'm trying

to raise it well she you know we have seen that she's been quite supportive so far what's going on but the market so far saying that they've expected tapering taff and so it depends how much she's going to be listening to the markets are they having said that ben bernanke you last month said we won't be dictated to by what the markets are saying so i'm not very sure about that one but you know in terms of her competence as chairwoman of the federal reserve she said after the crisis that she didn't appreciate the seriousness of you know securitization what was happening with the credit ratings agencies and she just said oh you know i just didn't recognize the seriousness of what was going on and if that was someone that said that was the vice president of a company they wouldn't then be made president of that company may it seems like quite a dangerous situation for the u.s. economy because it's just more of the same list on the institutional lines and this is what you want in a fed chair woman the other words are they've got the blinkers on they don't look at reality in terms of what's happening with market manipulation and the fraud and the banking terrorism they just looked at the stock market price according to alan

greenspan he said that's all. looks at the dow jones of it's up there doing a good job he also famously said when it collapses we don't have any policy at all to deal with it we just we just let the cards chips fall where they may so in other words very dovish more money printing inflate the bubble clueless clueless. clueless guy and i think i just said you know when she says says i didn't see this coming then what you say is just it's a blanket it's a fake which is unfortunate now what we're saying when people talk about the gold price that is going so. u.s. centric and we're seeing that from the fed now when people are speculating in particular goldmark and other markets and it's to me it's just more of the same nothing nothing at the moment change but you know i look look could happen between now and january now look what's happening in the u.s. with the economy the shutdown the debt ceiling but when they say that we don't look at the markets the markets don't dictate our policies that's a false statement once again by bernanke they look at what the market reaction is and then they make policies and accordingly we saw that with tarp they want to pass

tarp the market crash they passed tarp bernanke he said i want to taper market crash he said i don't want to taper so easily life like he was to another institutional name. but talk about the rest of the world where you you're out with a detailed report and people suggest that you work at the real asset company for your latest report your latest report is on china's gold market and the report is called uncovering china's rush for gold so tell us about it and this is a clever safe report between myself and. everyone should follow on twitter and he's got a fantastic blog is far and he says he's the ultimate sleuth when it comes to digging deep into chinese gold market last summer when we talked about this before we kind of comparing it to max and and the london market and the next thing the market in the u.s. yeah and they have like the biggest. markets going on where and say when we look at china this time around we just kind of just first started just laid out the different elements of the chinese gold market one of which is the shanghai. if each

the exchange which is the second largest gold futures contracts in well but it's it's you know it's significantly smaller significantly smaller then came x. and i think. an interesting eleven times larger than is on the shanghai ph section it's hege but having said that volumes have started dropping on. exchanges slowly taking that volume away but the back of this report we had the shanghai gold exchange the future exchange rate set and also the role of the commercial banks and the reason we looked at all of these is because in the last more less than one hundred years china has done a basically a complete turnaround on how they're approaching gold and how people buy gold the gold price mining gold and you know in the one nine hundred thirty s. china was so the hub in asia for buying gold then there was this clampdown people weren't able to buy gold there was also an issue of buying silver the metals were supplied judah's in order to buy it and then from about nine hundred eighty we've seen this very very very slowly taking off the sofa off the clutch and letting

letting people get more involved in the gold market in china and you know but this isn't bayside it's this is supply and demand you know so mining within the country has gone from four tonnes and this year is expect to be about four hundred forty tons official figure the number one liner in the world they are now the number one mine in the world interestingly they're all say the biggest in terms of what gold mining production contributes to the annual g.d.p. the global the new g.d.p. they're the biggest contributors but having said that gold contributes gold mining country is the smallest amount to the country's g.d.p. than any other mining nation so it's still a very small industry terms of control contribution right there is the talk about gold. per capita yeah yeah and china eldad has an emerging stockpile of gold this gold per capita number is still relatively low yeah i think it's one of the largest in the world is less then i want to say no point one six but i might be i think that's two thousand and ninety thousand ten figures

are where it's out of pick up seven. do that and i quote but it's still very late but the point is that they're. now trying to encourage individuals to buy gold so was their mind was gold internally they will say spent over two billion and investing in mines and brought meanwhile their internal gold market price is now. spot market is influenced by the international gold price whereas before it was closed and it's they're just making more and more accessible for individual gold they're even advertising on t.v. let's talk about this consumer appetite for gold in china because in chinese culture there's a saying that a man makes two fortunes in his life his first fortune is in gold and then he goes on makes another fortune but the idea is that i suppose you have to include women now for the twenty first century that many business women in china now are blazing their way toward higher g.d.p. numbers but this idea of stockpiling gold as a form of savings you saying that they're advertising buying gold is very different the west is that what they're saying all over the u.k.

in america there are shops where you can sell your gold to get paper in china so that the opposite well it's completely opposite this is something else that keith henson and they were kind of how often are advocates going on their national television channels encouraging you to buy gold the i c b c separate go to kenya nation plan a couple of years ago and within i think six months maybe this month they had a million accounts. using a million million accounts which doesn't sound very much in a billion nation but within a year that kind of you know they made it more accessible and that was in two thousand and ten so you know we've seen huge volumes going through the shanghai gold exchange the other thing i want to talk about is that people are basing whether or not china is going to overtake india this year in terms of demand in this report again this is and found this out with that actually they may well have already overtaken them in two thousand and eleven if you look at china's official figures around the world go count the saying i'm a goddess of the demand is going on in china like i said they are playing both sides of the coin this supply and demand get. they are trying to buy up gold

outside of the country not to see these kind of imports from refineries and through via hong kong what about the so so called china put in terms of the gold price in other words any time the west is dumping their gold in for either reasons of financial instability or manipulation there seems to be a ready by are on the bid at thirteen hundred dollars yeah with china in asia is that true i think evidence has already made back in april when the gold price fell we saw huge volumes going through the shanghai go change this year lane they've bought up sixteen hundred tonnes so they are in any imports from hong kong are consistent i think last year we saw one hundred tonnes being bought up in the unit like we're actually saying with small private investors in the west they are buying gold when the price is light and china is just getting on mass and you know a much much bigger scale so that when they what is china's official gold reserves number and time fisher go to their numbers one thousand and fifty four tons which makes the number what a world table very down icon going on but that's how i should go there and yeah

they're in the top ten thanks to the u.s. and germany. germany's are three thousand and eight. ok so what is the sixty four thousand. dollar question what is the real number because during this crisis they've got agents out around the world accumulating gold and the sly we pose it conservatively looking at paper that was written back in two thousand and ten despite a very senior official in the golden state in china he suggested that china have a have a six thousand tonnes by the year twenty twenty and if you look at accumulation we start on a basis of one thousand and fifty four tonnes between turns ten to any just kind of just a conservative number we estimate it might have between three thousand three hundred tonnes but that the very concept is saying right now that your best guess is that china has over three thousand dollars just because rather than speculation kind of cause we don't know exactly where this goes going that's going into china this is

the point the series that we're doing on. it's going to confuse fat and they heading toward six thousand tonnes like twenty one which would give them very equal almost equal on the same level as the u.s. fish and officially the us. speculated that they believe their gold out as part of this gold suppressions game and so they don't really have eight thousand tons of gold anymore they policed it out of the gold bullion banks have sold off into the world markets principally to china so when they come out at that point according to some gym records being i guess the most notable saying that once they have four thousand tons in their possession they will get a lot more aggressive with the u.s. in terms of dollar let me let me ask you this question that china this week warns the u.s. that they had better raise the debt ceiling and pay the interest on their debt they owe china. so. people say that there's a symbiotic relationship between china and the us in that china has us as their biggest market and they get dollars in return and there's

a symbiosis there and there's stop their self-interest to cut that strategic relationship that again if the u.s. is not going to pay their bills and the government is closed down at some point china may say you know what we're going to cut this pig loose i think confucius said that actually and but they would need a lot of tons of gold on their books before they do something like that you're saying that they could add three thousand tons or more some are saying once they get to four thousand tons or in a position to cut the u.s. loose and their rhetoric now is getting more pointed is this going to be a contentious u.s. china yeah i think it's a major issue new because we've talked about this before in this relationship between the u.s. and china and this is what many say is why china up buying will this go because that this relationship with the u.s. dollar you know this connection they have i think this is the key thing that everyone should be looking at but i think what you need to think about is that they're not any trying to build up their reserves to. where they're trying to

encourage individuals to hold gold say not just it's not just about cutting that you know how many tons of gold they've got they're preparing then laying the ground is not something international contends there is that they're laying the ground making sure people people have enough gold individuals have enough gold as well all right we got to cut it off there jeff skiles thanks so much for once again being on the kaiser report and. that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank our guest jens coils of the real asset company where you can find her latest research if you like to get in touch please tweet us at kaiser reported that exxon mask others and buy off. we made it out of. the real fighting experience. it's no good saying it's all up to your military service and you can expect some of the toughest training.

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i cannot speak for my shot and really the legal issues are obvious father i'm shipley thankful that my son to shave and free. the n.s.a. whistleblower edward snowden i arrived at. his son spend five weeks in transit before receiving us. just minutes. for his first visit to russia find out what he said in just a few moments. and in our other developing story a prime minister has reportedly been kidnapped by armed men in tripoli also. for the world.