state so you can act like they're not here and keep kids away from them. the pass' out is a long term you know i mean this teaches them a lot of for a responsibility and simply come to pay through the eyes of children if we can't do it for our children move for our future what is the country will save. welcome to the cars a report on max kaiser you know this past week has been packed with some of the funniest moments of a d americanizing world in america they floated the idea of obama by legal experts consider such the least on going to show only way to avoid a u.s. debt default in the event the jerks and clowns of the senate fail to raise the debt ceiling ha ha ha ha yeah how much more hilarious lee did americanizing going to be

than to operate degrees of unconstitutionality and obama's banana republic bones one point zero over in the u.k. the chancellor george osborne was cracking the funniest jokes of the cabinet about his own poll policy for the road to banana republic them help to buy a game he said quote hopefully we'll get a little housing boom and everyone will be happy as property values go up ha ha ha ha so funny george osborne the chancellor joe badly misfired with his cabinet colleagues who thought that causing another housing bubble and burst was no frickin laughing matter george ponzi george osborne stacy herbert cabinet they have no sense of humor or even the independent here says a funny old week for the british taxpayer yes it appears corporations are ripping them off not paying taxes and of course there was the little matter of the i.p.o. for those of royal mail which lost a lot of money for the government royal mail i.p.o. delivers one point three billion pound blue bar. so the royal mail shares u.k.

r m g have been trading for less than a day and already there are a runaway success even so the i.p.o. the previously state owned institution whose history goes back to king henry the eighth has led to criticism of the u.k. government after just a few minutes of trading the stock jumped almost forty percent indicating the u.k. government could have made an extra one point three billion pounds on the sale read some of them. by a vote from the chancellor and a lot of people who bought into it lot of the punters a lot of the you know the peasants here in the u.k. that participated they flipped it they've already booked their little profits and they've already vomited out on the streets of london manchester burning with sheffield saturday night you can see big pools of vomit that's their victory vomit we've got victory vomit we we made a few balls selling our prized asset we spread decades building just a private equity shmucks yes they were british they were vomiting our way to

victory well two thirds of the shares went to bankers and a third went to the normal punter at seven hundred fifty pounds ago but valuations the end of the day in the first day of trading on friday was four point six billion pounds when before when analysts financial analysts were telling george osborne that they were way underpricing this and that they could get at least four point five billion pounds and he said that's absurd so in fact it was valued at four point six billion pounds right well this is a gift to bankers and they price the s. and p. not pounds just to make that note but this is a gift to bankers another way to make an extraordinarily bailout move to. inveterate liars to serial financial terrorists so i was born just wrote a check to them for billions of pounds they put the money into assets that will never see the light of day ever again shadows in france and other like assets that are not circulating the economy it won't help the g.d.p. whatsoever but it will make the cost of sending in the u.k.

rise just like when they privatized energy prices go up their privatized prices are going to go up and of course the goal all goes around full circle doesn't because now there are national izing the transportation system they had to renationalise the banking system they want the real nationalize royal mail soon as the private equity guys extract billions and billions of pounds of labor day it will die that the real nationalize it goes around and around now on this. underpriced i.p.o. the bankers as i said made quite a lot of money and one of them hedge fund linked to george osborne's best man to make millions from privatization of royal mail after buying a fifty million pound stake so peter davies is a member of the management committee at lansdowne partners which saw the value of his royal mail shares rocket by eighteen million pounds now they there's no suggestion that he was helping out a buddy but these are the sorts that benefitted it's george osborne's friends who benefited from the mispricing that george was going to myself and let me let me get

in there because it's not mispriced as i've explained on the show many times i worked on wall street in the case of i.p.o.'s initial public offering you purposefully price that in ways where you get that first day pop and then that becomes currency to buy favors to stop people that are suing you for malfeasance let's say there's a huge amount of toward the city of london and their criminal behavior so we have the currency of a hot i.p.o. you can call people up lawyers you can call up people that are suing you you can call up politicians who are thinking about taking you to task in public and you can say look i've got this i.p.o. it's up twenty percent or what have you are going to put it in your account right now it's a barrage it's a it's a currency of bribes and that's the way i.p.o.'s are price that's why they're priced in that way that's why you see those first day pops in their currency for hours bored to fuel his bribery and graft in the city of london and his political

ambitions this is used again i repeat as political graft currency by george chancellor was born so you talk about mispricing in this first morning pop but there's been a pattern also in terms of market mispricing in gold in the past few months we've seen an occasional right before the market opens in new york somebody comes in with a massive order and decides they want the worst price possible for a crash the market will. this also happened on friday while the mispriced royal mail i.p.o. is floating gold's plunge blamed on one massive sell order so gold fell by twenty five dollars in two minutes on friday at eight forty two am it appears to have been in order to sell five thousand gold futures contracts at market about two thousand seven hundred went off and tripped the stop logic halt in gold futures for ten seconds while liquidity replenished with enough liquidity returned after ten seconds the balance of about twenty three hundred completed said eric hunter at.

the fair market price for gold given trends of money supply is about twenty one twenty two hundred dollars an ounce the fact that it's at thirteen hundred dollars or below shows a clear case of an empty lation the people who are laughing about this are the chinese because they will announce soon that they don't have one thousand or fifteen hundred tons of gold they've got five or six thousand tons of gold at which point and they've already made that clear stacie either of you saw the news or not but china got something on this. first we're going to finish up on this gold story but we're going to go to that china story in a moment because it's relevant to this gold story because. rich a founder trader said that five thousand lots is huge we don't know if it's a mistake or not so he's suggesting it's so out of the ordinary that this could have been a mistake but then you had andrew maguire on there you know who is a whistleblower at the l b m a to take part children by the head and say look bar here's where the going to manipulate silver prices at this price at this time in

these lots and he was a smoking gun proven bard chilton the see you have to see who is they for our fossil of regulators who like to parade around in a bikini and do absolutely nothing said i don't see anything i'm i'm mentally stupid i can't possibly see what you're saying but they have the smoking gun evidence ok so here you have this guy who looks at the markets all the time he sees them day in day out for years and he says this is an out of the ordinary. event it's so huge it must be a mistake art cashen who has also been a trader for decades he's the director of floor operations at u.b.s. he says the question there is why would you suddenly dump a large amount of gold why what do you try to piecemeal it out over the course of the day so if that happens once it could be an accident of technology or could be a simple error but when it happens five times over a period of months it does raise questions is it being done purposely is somebody trying to send a message is somebody trying to influence the market and i say that you just

brought up the final headline here about china who wants a d. americanised the world and they want to get rid of the dollars the u.s. reserve currency as the world's reserve currency you know it could not just be america who wants to restore faith in the dollar it could be china looking to get a better deal well that's the other side of the coin is that who's who's who's jumping on the big who's flooding the market with the waters i think are cashen who's a senior floor kind of administrator if you will on the floor of the new york stock exchange who works at u.b.s. now of course he was before that is at paine webber when i was a pain webber as i've been following our passion for thirty years he's going to be one of the clarion a voice on wall street totally respected he's hinting at manipulation there and i think he's saying what a lot of people already know but you're right it could be china it's so banging on that big working with people to get the cheapest possible price because simultaneously when they say they want to d.m. merican eyes the world here's a here's a country that has huge exposure to exports to america is the basis for their

mercantile as the rise of the twenty first century why would they be cutting the nose off to spite their face unless they're ready to come out and say we've got enough gold at this time to cut the dollar loose so it's a good term to use here that's stop logic events when the markets shut because it couldn't deal with the logic of such a large order that that's how i like to see it but this is the way you can look at many of these policies whether it's helped to buy or the royal mail i.p.o. there's no law. can fall to other then the logic of a decaying empire and that's this final headline debt ceiling trying to calls for the world to be de americanised china's official news agency has called for the creation of a d americanised world saying the destinies of people should not be left in the hands of a hypocritical nation with a dysfunctional government keeping criticism and caustic ridicule on washington the news agency called the u.s. civilian slayer prisoner torture and meddler and others affairs and said the pax americana was

a failure on all fronts well i mean china should walk the walk instead of just talking the dogs kicked out mcdonald's kicked out kentucky fried chicken kick out coca-cola they're making their citizens obese and they're getting diabetes so you know they talk the talk but will try to walk the walk while the china to be aggressive in buying gold to point where they are just said they were just interviewed jan squirrels their work suggests they have up to six thousand tons of gold we know that in the first eight months of this year one thousand tons of gold left the west went to china we know that just the e.t.f. g.l.d. discords two hundred four hundred tons of gold so we're discoursing it this is happened many times in history where gold has flowed from one region of the world to another every single time that's happened whoever got the gold became the new superpower this could be the one time in world history where it doesn't happen and the cumulation of dollars in riches america but i doubt it will have everyone

thought about a stopwatch event let's look at two markets ok we mentioned gold the demand for gold has never in history been higher and the price has never been relatively speaking softer that's the entire gold market is stop logic let's look at the bond market a sovereign bond market in particular the u.s. sovereign bond market the supply of u.s. debt of sovereign debt has never been higher in two hundred forty years of american history and yet the price. this is trading near two hundred forty year highs that is a stop logic event so you have to stop logic markets the u.s. bond market and the gold market who act they're actually mutually exclusive in many ways that you cannot have a bull market in both one that is a paper empire run by jamie diamond ben bernanke and janet yellen who turned the world into a peasant class to feed their neil futile ambitions the other is real money has been for five thousand years that gives real purchasing power which is the basis of

the american revolution to begin with so if things going to win this battle at least china's got some stats are i say there were thanks much praise on the kaiser report i think you meant state in a second i have a lot more. deliberate torch is on its epic journey to. one hundred twenty three days. through two hundred cities of russia. really by fourteen thousand people or sixty thousand to one. in a record setting trip. there. are numbers face. olympic torch relay. on r t v dot com.

crosstalk rules and if it doesn't you can jump in anytime you want. welcome back to the kaiser report i'm max kaiser time now to turn to rowan for a day he's a former fraud squad detective and now

a blogger on matters relating to fraud in the city of london and welcome back to the kaiser report it's great to be vibrant alright rohan thanks to edward snowden it's been revealed that a vast surveillance state is collecting data on us allegedly to protect us from a remote chance of harm by religious terrorists and yet all around us is the very real and present danger of financial harm by banks and the state does nothing your thoughts on this double standard but i think it goes back to something that the american sociologist said in as far back as one hundred forty you knowing. coolidge . who wrote. he was the man that coined the phrase white collar crime. he wrote this amazing book in which he he pointed out that it was as he put it

a consistent bias in society but it's we. who commit cedes certain kinds of if you like. wrongdoing the states who wish to prohibit and those who are engaged in money and the manipulation of money what he called the op associate cannot make losses big fancy phrase but what he what he was talking about was the business class and what he said was that society judges regular bases always going to people he said they have a. they have an empathy with with bank is and with lawyers and and with accountants and he said the they fail to be able to understand they simply cannot see them in the space of criminality so consequently he said they always. are willing to bend over backwards to support business

because they fail it's a put business into the same category as they put organized crime ok so the language and the law does not support prosecution of white collar criminals because it does not adequately characterize or defined their behavior and terms of criminality and i bring this up because our friend luke saw ca has an attorney and former banker in paris has been working to introduce language into french legislature that would equate what jamie diamond has or what bob diamond has or what george osborne does when he's acting for the bankers as the equivalent of financial rape or financial pedophilia so in other words what the french are saying is if we change the language of the law and we have kids. jamie diamond or bob diamond a financial rape then the public will get it and they're not as our friend the

artist taxidriver would say that what's going on here is serious not just some minor paper shuffling without a victim but is the equivalent of pedophilia and if you don't support pedophilia then you would not support bob diamond or the former head of r.b.s. or what george osborne does how would you what about this approach about changing the language in the law itself i or i personally have no problem with i mean our r m i so said many years ago the crime crime is actually what you call it and we should we should be addressing what's going on inside the banking sector and cooling it by its real name but the really only applied so it's. only an artist and surprise crime well that would be a racket a criminal something if it was when i said to the value that is the evidence i gave to the banking commission i that's a loser of the racket

a syndicate i want to say shall i send some evidence or use the definitions of organized crime used by the u.s. the u.k. europe and australia and i took this for definitions and i applied them to what is going on at buckley is the nature. i just b.c. and all these other people and i said there is absolutely no distinction between what the what the matthew does by these definitions and well the book the u.k. banking sector is now in the us to buy where max yes but they suppress my evidence they did not but they refused to accept it meaning what they don't. that how did that work exactly you're a former cop or ok you gave evidence you pointed out to an organized criminal activity a racket i sent them the reports. they subsequently lost it did they say it was in the twin towers went to blow i don't know yet how can they justify that they lost it that's that's what they did eventually because i kept pressing and pressing and

pressing but i eventually got a letter from the chairman of the committee mr tare in which he admitted to me that actually restores us we did not want to move to receive your report we were ultimately shown too late to do certain things with it but we did get your report and it was going to be now i'm going to be the only person that gave evidence of that committee and the law in the u.k. is different in the us and that you have committees they look at stuff they have an opinion but it's not like you've got activist district attorneys you know who can really like a jewel rudy giuliani in new york but that's me one after the mob show that is a political move because in america there is a much. it's a much stronger emphasis for young prosecutor who's young lawyer and forces to to go out there and really go off to the big talkers because it helps them

immensely if they have political ambitions judio he's a classic case giuliani brought down they have the pizza connection and suddenly you know he's he's you know he's a little bit but he's only in a way the justice system is set up is that this no room for enterprising young lawyer to go after mobsters or in this case baxter's as a political ambitious move it's just not set up like nobody's going to know young lawyer or prosecutor is going to have much of a career if he or she says he's he's. on a series of senior banks this and goes off to them because it would be very quickly made to him ok let me ask you this that in the case of the london whale from j.p. morgan in the case of a i.g.a. and the case of bernie made up in the case of the lehmann collapse and the case of the library scandal in the case of the newly revealed for ex trading scandal it all

all of the major scandals of the nexus in the city of london and people characterize the city as where bankers go to outsource their fraud for a couple of reasons they have the least regulated financial markets in the world and that apparently what you're saying is that other elements here there's no way that you can adequately prosecute financial terrorism in this city but there is no incentive for the regulator and there is no incentive to his him it's to be no incentive for the the serious fraud office to go in and to go after these people aggressively and dynamically i'm not talking about. doing things they shouldn't do what about this situation where the serious fraud office was investigating a slush fund between prince bandar of saudi arabia and tony blair regarding the british aerospace slush fund this is covered in the financial times and apparently bandar threatened blared by saying if you don't call off the slush fund as to gas

and i can't guarantee there won't be another seven seven terrorist act in the city of london whereupon blair folded like a cheap tent were you shocked by that i was shocked by the fact to the s.f.o. who were forced to back off i wasn't aware by the way but there was a threat of terrorist activity more was covered the f.d.a. bandar and he repeated it recently he threatened ok russia with terrorist activity in russia if he didn't get if there if russia didn't go saudi's way in the syria conflict and once again prince bandar threatened terror as well i believe it's just that i wasn't aware i mean much my understanding was that the threat was that if you carry on with this investigation you know all kinds of good the contracts which you might otherwise when you were one of the regular shows he made reference to seven seven terrorists and iran and that's part of the public record ok but whatever the whatever the catalyst were shocked me was that first of all the

serious reviews are new they are new the director the then director of the series for gophers who was a who is a hell of a good man i mean it shocked me. but not done a good regulator a good man but a crap regulator he was doing what he was doing what he could do under the constraints that are a ploy to british prosecutors regulates us and they will if you feel like it gets back to the original question rohan which is that here you have the state which we now from the end snowden revelations operating a vast illegal surveillance operation in many times on the bet to be asked of corporations as part of corporate as. an insider trading to get an edge in their heads fun activity having naturally nothing to do with protection or defense these are the same people that make the case that they need to make these incredible invasive machinations to completely destroy any sense of civil rights or

human rights in this country so where do they get off making this huge double standard in other words what were they get off saying that on one hand everyone's a terrorist until proven innocent when it relates to non bankers but relates to bankers they're all innocent forever and for more because we are too lily livered and cowardice to do anything about it or we have to look at the role of. its relationship with the u.k. repealed. i used to believe that i used to believe that the city was maybe. supports the sport so it was for the economic support of the country in the same way as policemen were there to enforce the rule the teachers with to educate all mines and doctors with as a hopeless maintain our health that was a very naive belief because i realize it's something i realized more recently is that i see the sixties a complete long to it so ok i'm just not going to tell us understand around but

less and less pretty clear what the stakes are there propagating terrorism they finance terrorism h.s.b.c. finance terrorism directly that's the stake they're mexicans that are decapitated our thanks to h.s.b.c. full stop that was the stakes in the government this government doesn't give a flying crap about it and that's unconscionable but let's talk about the more interesting aspects of u.k. law they've got these new ip and injunctions to prevent nuisance an annoyance this is on top of the as above that they get people who reason people who are hard working people that the cops go in and harass them for a nickel and dimed like a shakedown operation in some third world country they've got now in the u.k. can we what's this all about is this just more you know nickel and dime in the population is just another shakedown by the government to make impoverished people even more in poverty only about twenty seconds but. i think when you when you when you come to look at these. these new these new penalties what we have is we have

a government that is obsessed boeing. crime in the money crime on the streets crime but influences and impacts upon the average joe in the street he's called being broken into his house being shot but he went to the daily mail makes it look like they're tough on crime well let the terrorist go free that's not i'm unfortunately roland i got to cut you off that's going to arrest me . if you have cops on you know with me you know that even the pink for a tight no i mean moon ok that's all the time we got to cut it off there we have you on back soon roland thanks so much again for being on the kaiser report as always makes it's a joy and that's going to do it for this edition of the kaiser report with me max keiser and stacy herbert i'd like to thank our guest rowan boswell davies a former fraud squad it's active if you'd like to get in touch with us tweet us a kaiser report until next time.

some may disagree. but i believe america is exceptional. we can. real damage and complexity of this oil spill was not something you can grasp just by looking at dirty birds we have between four to five million people in this

directly affected area of the coast and it's pretty clear why it's not being reported because b.p. can't afford to have a reported all along the gulf coast are clean they are safe and they're open for business if b.p. is the single largest oil contributor to the pentagon the us war machine is heavily reliant upon b.p. and their oil this is a huge step backwards for democracy it's a step forward for the oligarchy carex it is toxic is a look a lot like spraying in vietnam it was it was not a picture that either the government or b.p. really wanted to have out there i don't want dispersants to be the agent on. this you know this. whole salary. child legal rights.

anybody. want to. pay for the young girls cam all for the future honner. between two and three hundred million guns the united states so you can act like they're not here and keep kids away from them. deposits out if they lard you know i mean this teaches them a lot of rough spots ability and simply come to think through the eyes of children if we can do it for our children for our future what is the country home. oh.

there were. some major firms on. the reach of the n.s.a. . connections to privacy. and the wrangling to secure a budget busting deal keeps the world economy on with a little sign of a conclusion just two days before it could cause a catastrophic default. in moscow as a muslim small one of islam's made to. set up sunday's final. in the capital.