toilet paper better clogging up london's sewers so what you're telling me is that in china they dredged that stuff up and they re cook it and ten percent of what they're eating on the street is made from reprocessed toilet paper written fact bergs that they put into their pork buns and other street food gosh remind me not to book any flights to china any time soon well actually they go on to mention that that woman is just buying a house with all the money she's made over the past ten years pulling out those fat barracks from the sewage so perhaps you could do that here as well that might be a way to build the economy well i think what you're saying is that there is an analogy here between converting the sewer garbage fat slop into reprocess tidbits available as it commenced to poles or yes on the street with the slump in the financial system so they take credit they take collateral that's better abused and has been sold down and resold hundreds of times and they put it on the balance

sheet of the bank of england and the bank of england exchanges fresh sloppy in the form of a guilt which is then the collateral upon which the pouncing bubble in london is based and if you were to examine the balance sheet of the bank of england you would find reprocess pork slop and gutter slop and oil and all kinds of dog bar bit and the. you know fill and whatever it is you know trying to cut it get into little mandarin there. did you hear the manner now it's no no no news i'm saying like the balance sheet of the bank of england it is as toxic as that as the reprocessed oil that's being dredged up from the streets in china and the effect is the same it's apology scheme built on crap he yes it is as carcinogenic and toxic as the stuff it does the job it might look like there's liquidity might look like your your pork bunnies being cooked in oil but that oil is. the sewage system and you bring up the

bank of england and that's in our first headline here bank of england's mark carney places a bet big finance so he was speaking to the f.t.'s one hundred twenty fifth birthday party and he said he mentioned that since one nine hundred thirteen u.k. banking sector has their assets have grown from forty percent of g.d.p. to four hundred percent of g.d.p. and he thought this is a good thing but that it could be even better he said by twenty fifty u.k. bank's assets could exceed nine times g.d.p. and that is to say nothing of the potential rapid growth of foreign banking a shadow banking based in london he continued some would react to this prospect with horror he was right says martin wolf of the f.t. since this would turn the u.k. into the iceland of two thousand and seven times g.d.p. well first of all what wasn't covered the f.t. one hundred twenty five your birthday party was mervyn king popping out of

a cake making. and his moves were dangling. you know tony blair was there a backup dancer pole dancing in the background with his moves and then david cameron took out the biggest movie of all if you notice that walrus beach waterspout let's get back to this idea that mark carney thinks the way to stimulate the economy in the u.k. is by expanding his balance sheet from roughly two trillion pounds in debt to what he's saying now nine trillion pounds of debt on a one and a half trillion dollar economy you're right it would be like iceland right before a collapses but this is exactly what we're talking about be saying to the world bank's give us your toxic debt give missed the flop the junk the collateral that's worth paying the zero on the dollar put it on the balance of the bank of england and we'll give you gilts priced at one hundred cents on the dollar which then you can use collateral to keep your ponzi schemes going all over the world marconi

wants to be basically the hawker of the world i mean he wants to be the hooker of the world he wants every single every single to east he's the two pound hooker of the world he wants to get on with everybody and he'll do it for cheap this guy is shameless he's like the type chinese laundromat of the world he wants all of these foreign banks to put their fraud whether it's market rigging of live or now for x. market rigging that is the investigations are going near those increase your assets of course but like with the gutter oil we find out that it's actually all slop and toxic and carcinogenic to our financial system now interestingly they also give some shocking numbers here on what those bank assets are as of august twenty thirty nine loans outstanding to you k. resident from banks were two point four trillion pounds that's one hundred sixty percent of g.d.p. oh this thirty four percent went to financial institutions forty two point seven

percent went to households secured on dwellings. and another ten point one percent went to real estate and construction manufacturing received one point four percent of the total u.k. banking is a highly in turn connected machine whose principal activity is leveraging up existing property assets the u.k. economy is essentially a pawn shop next door for house and then you've got mark carney who will give you cash to visit the whore house of real estate speculation and he'll take anything in exchange for that cash to go visit the whore house of real estate speculation in the city of london so the bank of england if you open it up the vaults you won't see gold you won't see silver you want to even see big coins what you'll see are mountains and mountains and mountains of garbage and trash and gutter oil and dead bodies and mervyn king's dresses that he used to wear when he was not seen

governing the bank of england before and old guys from the old victorian era stacked up like firewood rotting and that's the collateral that is the doctor saying the real estate speculation which has only one inevitable conclusion and that is. last but it's a question of when well as you mentioned here they're willing to expand their balance sheet and this is another thing that the f.t. party conversation turned to he mark carney said the range of assets we will accept in exchange will be a wider does not look let's be clear about something if mark carney were honest he'd be wearing a dress but mascara full makeup and parading around in front of the bank of england sashaying around and basically doing his job as a pimp for the real estate speculators here in london that says job carney is a full stop and if you open up the wall of the bank of england you'll find nothing

but use condoms and a bunch of disgruntled customers who spent all their money on two dollar hookers and the real estate speculation staff spit known as the city of london continue on this court here because it gets worse so he said we're we're willing to accept a wider range of assets so-called acid used condoms there's one that's euphemism for use condoms extending to raul loads that's you from is number three or some of the things in the kama sutra which you can't describe on this show because it's a family show. it sounds like the gutter oil the gutter with the other oh yeah they do it in the gutter for sure in fact he then goes on to say any asset of which we are capable of assessing the risk asset. asset as sassing you know since the mare but of course we have this got our global economy because nobody could assess the risks of these derivatives this is the key is that when

they go to sell these bonds into the market so called tapering. they are making the assumption that the bonds that they have on their balance sheet that they accepted in exchange for the money laundering that they've been doing are worth one hundred cents on the dollar but when they go to sell those bonds they're not worth one hundred times of a dollar they're worth maybe two cents on the dollar so it's just like in any puns the scheme you can't taper a ponzi scheme you can't unwind a ponzi scheme the bodies came only goes one way and when an entire country's economy where there was iceland before blew up or the u.k. today when a big or japan in one thousand know this is it the city of london today reminds me of tokyo circa one thousand nine hundred eighty nine when one square foot of real estate in the downtown tokyo was worth more than the entire rockefeller center or some a normal of california some incredible metric like that and then you know the nikkei

was a forty thousand and then a popped and they went through to last decades similarly they're selling plots of real estate in london that are as big as two structure table for one hundred fifty thousand pounds that's the equivalent of tokyo one thousand nine hundred eighty nine this sucker is good all below they did measure in an article here that a house where at the size of two through they measure things in terms of the total that's what ronnie o'sullivan grew stucker player ever in the history of the world is probably the best economist in the struck out of the rodeo sullivan should be running the bank of england not mark carney if you're going to measure your economic growth in terms of super tables. in charge because you don't bust the other player in the world and not marconi who are not going to have a goddamn lolol all right stay here we got to go thanks ray on the guys report. stay right there a lot more coming your way. led

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and r t v dot com. you are to. welcome back to the kaiser people our imax guys are time now to turn to dim it all slid a sports journalist at the irish examiner but was also leading a successful campaign for irish debt repudiation as well as managing the blogsite bond watched ireland dot blogspot dot the german welcomed the kaiser report thank you very much max chris to be here all right now you're heading into the one interest and forty s week of the protest against a bondholder of bail out in ireland tell us about stanton we stuck to the sixt two thousand and eleven which was the weekend after the last general election and i see in color with a lot of irish people i had voted for a change of government because they had made all the right noises we tossed in terms of you know sharing to bolton and you know lifting the bank that pulled in

all this kind of person and within hours of the direction of the mine days which he knows of the election and i have been to kenya on irish radio and talk you both so hard to know who is spoken to person or seems as if we're not going to be able to bolton sure after all and at the time you know across north africa if you look there were all kinds of real process going on i mean dangerous process people taking delays in their hands you know in iraq and in libya for a long time there and. you know it and they so this is happening around the same services have to go inside yourself to find some common cause what these folks there were seeking in the past because in effect the banks in ireland have occupied the irish people there's an occupation going on well not unlike the british occupation for some time immemorial this is a financial occupation is the problem one of problems that people don't understand that when you have a financial occupation like you do with the banks the terrorist banks in ireland that because it's not out right land grabbing but using financial instruments that

it's hard to communicate that yes family says it was just as effective probably far more effective as well because and that seventy billion. is the actually banked at both ends and we've been one to six and i'm seven billion and people are just not a ribs and you know i think the scale of it is what gets people i mean if you talk about zero to five million or ten million or whatever but i think once you start mentioning billions of homes in people's eyes kind of is or was ok let me ask the question how much was the total bail out of these unsecured international bond holders. where so far we have like d.t. to some there was a blog for whom it was a brilliant clocks were called memory in your country might have come across a certain what's on now i'm a whiny because i now know why i like of course dollar being the slush fund that all the bad debts are being laundered thrale's and it's similar to the wine lake and france where they added subsidies by the government to keep the wine industry going so there's a government subsidy reference to the no market line like exactly all one world but he did say he did it the numbers on this and sixty nine point seven billion that's

really put into sofa some of that money is money just that has been taken from us like we had a pension reserve fund where we had savings you know it was twenty point seven billion dollars actually taken from that pensioners are fund and poured into the banks then the rest of it is money this is actually no to europe so between those who would have to go sixty nine point seven billion and you know if it works or support fifteen toes in your personality if you take an average time you have to address three kids it's about seventy five thousand euro per family that that debt has just been put on to destroy those of the irish people from its own pre-sentence good has never happened like this before so it's worse than then any occupation in the history of ireland he could say and that the it would be more like they'd have to compare to the salmon because what in fact what you've done here is you've created a manmade famine of credit so that you're starving people to death in a way using financial instruments and sell here you've escaped the whole troubles

period and the famine carried only to be visited by another. plague of locusts the bank stores and they look like they could finish the job the irish soul is at stake here because even your local media and ireland refuses to covers a fact that irish people are being terrorized by pankhurst what's wrong with this irish media arctic just are they just corrupt are they stupid well it's actually there's another parallel as well because like you talk about the famine there was no famine in ireland i mean this is going into the lexicon this is now going into the general acceptance in december that there was no big people talk about the famine in arlington or talk about to be you know something like this i was taught about the second there are still am and there was no human life there was a shot that there was a failure of one food and no but it was a staple food of the people a staple food of the people to praise or but it was so it was we were exporting beef and kong and all to never hear us from ireland at the time of the so-called famine and enemies that there was absolutely no food we were exporting food there

was a decision taken by the government at the time which is the british government just let the people die you know know what you have here you talk of debate ocean and there was no bailout and there was a billion we didn't get a cent of debts right up but the so called be you know not one cent of death right don't just mean these are secured and secure because we have a secure space the bottle or took all the rest. of the risk yet but now we have it and this is the us was dead down debts we got additional debt and the so-called beta was on his beard off when tries to delete it to teddy to try to come in the member of a memorandum of understanding like if the i.m.f. came into any country one of the first people his but the one told us they took a hit when the eye when the i.m.f. came into ireland there were companies by the e.u. and the e.c.b. and the one thing to the e.c.b. had in mind when they came in was to bail out the banks and to be able to europe it wasn't to be and that's what they got and now we're hearing that we're going to exit this bailout as i've said to many times people in the i.m.f.

when they're trying to leave they would be leaving with a smile on their faces because every. that they came to achieve they would have achieved everything that they've come to achieve different cheeped they believe in here and we have legacy that we have no debt slaves in and for the next forty years just in the previous three notes or when it disappeared focusing on no we have a major move using the technical group and on the technical group and it all is because i work in the technical group technical group and then of the i a little saying that parliament doesn't actually have independence in the group they go from the extreme left to the extreme right but they come together as a technical group just to get themselves voting rights and speaking rights and opinions because there is no democracy and you know have been so different difficult to get to for the first time ever behind one of the proposed that we have for back this relief and i meant to force which is the ending of the promise or no it's i surely hope that the producer who expects this of to a couple of things or first of all you're leading into this idea that you've had some success here but i wanted before we get into that just point out about the the

debt itself and this idea of exiting the ballot which is the one that bell and as you more accurately describe it as this is the headline in the financial times in the financial press and in the german press you're not the overlords have said that oh ireland is exiting the beilin but this is really just so for straight it's a you're playing with words because it just hurts they just says for the debts over to another creditor it's like the mafia selling the debt to another mafia can tend . to get out of some favors correctly i would add that interest each time like the police or norse for example i was taught the one billion you're interested in twenty ten thirty one billion euro and you think of the scale of the actually kind of the g.n.p. and there she got to be one hundred top people in parenting something one billion to below two insolvent banks using the emergency liquidity assistance fund specifically states that can't be used to beat off insolvent banks but they did it

because they were afraid of contagion across europe they were afraid of going to so i did it to see it did moses i know. worse and worse surely to fight really trying to start a retail bank we're going to have the process just the banks set up your finest declarations the conditions for your scheme it was would have to mean rotten bank sheaffer that cannot and so it was not done for the benefit of the irish people thought they were in billion euro they had nothing to back this just as tacit in jail yet. were shouting i mean these are soaring iras i was looking at the tower trust through their director here in london and we badly need something like that and i don't know just enough to short people into because all the good evil despite it's simple yet it's not china these days if it was in china he would have been beheaded or reading it because it isn't actually i would mean the area but that's just another charge of legal precedence that unfortunately china seems to be more up to speed on the stuff and now you're having success well what we're witnessing i managed to get this group together i mean you know in a way i suppose it's a microcosm of what we've been trying to do because we've gotten every branch of

the of political toss united behind this one thing because for greece that was a very big and here is this is a european problem this is not an irish problem it was forced on us you know it was the launch of europe which was totally in complete concert should never have been launched the way it was launched you know it was daft it was mad it was crazy and when the you know the proverbial hit the fan we were the foster night and we were made to take the city you had even the chief economist with city city back up in the city caucasus your bank lately saying ireland is all we talked of six billion sixty billion euro by europe but their combined emotion that we're putting down at the door because enda kenny and michael owen have stated over and over again that they have never asked for a bank that's right up front that never even asked for it max max think about this now they never even asked for it they're going to europe is open negotiations and they haven't even asked so we're putting down a motion of that the detective group on our behalf putting our motion in the door asking to go of discovery and to ask the c.b. for permission to burn their meaning for missing or bombs doesn't know headed in

the oceans or back to permission or has money that we were borrowing every year to buy would been endeavoring to destroy. the payback does you know these notes but know when to put a stroke and fabric noonan knew the news they defined as mysteries the current is still the finance minister yet but he put a stroke i mean it was not a four stroke he has put it since it became a position and he put the stroke whereby you know he's told us people we've paid off the bonds are gone the bombs are you know nothing about hold a stroke you saying he lied media ball he lied the media law goodlife have to hold a string of half truths of how they called him past sure because he hasn't said it was because a very alert it was just flayed you are on this drug route what he has said is you know the promissory notes are gone to us true but he hasn't told the rest of the truth which is that their discipline bongs doesn't know sitting in the central bank twenty five billion baht assumes they are sold on different issues as soon as they're sold on to twenty five billion euros is taken and is also destroyed and

almost there seemed like that the promise us were going to execute it from what you see its banks a little you see here the city of london h.s.b.c. barclays lies rb as they commit same kind of accounting fraud every day citibank j.p. morgan goldman sachs same kind of accounting fraud area of an island disguised noone in the finance minister shyster banks are no good next and then enda kenny the current. chain shock. i say that word to shock t shock which is prime minister you know it's a lead it's actually ties it has transitioned to leader you know it was a leader rather he said it's translators into leach but what kind of name is end it is that where you say i mean isn't this kind of weird yes. and you know what about what i've sat there and you have no you know what the hashtag and the and and i like what an independent and put it into and then i put it into into place so here's a guy who's supposed to be representing his people yes but he's represents shysters banks there's a terrorist financial terrorist oh how did that happen you look at. what i think

there's actually you know there is no democracy not at the moment you have a gang of four who actually make hard decisions they're independent becoming for would be and the county michael noonan pass represents and him and get more and some of these are very good traffic and to be eighty years of experience in the private sector zero qualifications teaches this like mao's china supposed gang of four does well i think a man has never said you know that was a punk rock group everybody else and that daughter i called the nodding heads that just you know and ideas for guys coming to come into the cabin as possible with their ideas no a lot of those to ideas would have been dictated by the troika but a lot of the internal decisions on how they're going to you know impose all these cuts and how they're going to raise all these taxes are decisions taken by themselves and all of these decisions they favor the banks right all along the line if you have the banks the banks have had your obese for direct line to these for the people nothing that got the policy statement in their hands in their school oh

yes we're going to be in kilkenny for the kill comics' best of all next week myself david mcwilliams a constant thinker guest you know our friend plucky as are the top autonomous in the world right now you know want to be into county took a nomics next week maybe we'll see you there but thanks so much for being on the kaiser report. thank you very much max. yes. all right that's going to do it for this edition of the kaiser report with me max geyser and stacy herbert i'd like to thank our guest in little slip if you'd like to get in touch tweet us at kaiser report it's all next on. drugs some of the sixteen percent imports came from illegal fishing. the european union is ironically taking fish from some of the poorest nations on earth so this is

a very serious and very urgent problem that needs immediate international action. or territorial waters they fish they load the fish into the ships and leave for europe. to day illegal fishing just taking the bread out of our mouths. do you think your argument about turkey banged up prodigious examples of a muslim democracy that was able to separate that it's really china from its economy still can be applied to these day that's a fair point what i spoke about in the book was how ways gokey had done so being accompanied by skip gates and make it go away with hyperinflation and video of all that die you get all the time so it seems so much economic success and i think that was great but the problem there is of course they do one day his attitude has changed he now has become much more to talk to did he miss spaulding any criticism

and more bad annoyed. the deepest lake and. usually the new more than fifteen years old. this one dates back to twenty five. spirits and buddhist gods live here. the pure clear water in the lake is helping scientists unravel the mysteries of the universe. i try to see by cal in its entirety. it's not that i have discovered something new here rather that i absorb everything that this place offers. the

spirit of. all i want to. become something that is quite simply a mess. was no way oh. clearly they were just at the wrong place at the wrong time. and sold to us and turned over to us for. the soul that could be buried alive. was saved with great effort. and they want to turn me into a terrorist so it is they wanted me to admit that i was a member of al qaeda and the taliban and that i fought with them. was not a bad time i didn't even know what al qaeda is nevertheless there are people. brave enough to start

a fight. something's going to be done that's going to be done by me and it's been our short amount of time doing it but it's going to impact me i'd be prosecuted but it's not going to impact. the wife or my daughter. the one time or trapped monarchy. exactly what happened their fate. i don't know but a woman killed. piers later is when i got arrested. for a crime or did not do. we have numerous cases were police officers lie about polygraph results. innocent people to consent to the police officers don't beat people anymore i mean it just doesn't happen really. in the course of interrogation why because there's been this is like meant no because the psychological techniques are more effective in obtaining confessions than physical abuse and they were asked to take they could do what they wanted they can say what they wanted and there was

no evidence of what they did or what they said. look this it with these have done invade and occupy another that come through which is the whole that we could have taken place without the full consent of the americans and what we've actually seen any of these propped up by the americans come up with their own initiative to replace one take. it easy to end in a place imply another dictator which is a staunch ally. of at this to protect its own back out god and go ahead let's not forget that the arab spring is a crisis moment in international politics it is the moment in which connell put the genie back in the baltic because the people on the ground in those countries for example in egypt there is a nationalist swing towards. do we really think that sisi is going to be able to become an old forward cerium without the people rising up again.

almost a thousand people are killed in iraq in just one month forcing the country's prime minister to ask the u.s. for help to end the violence. america's huge. new spy complex is the target for outrage with authorities failing to keep the public away from what was supposed to be a secret facility. they put it inside of the middle of an army base so you can protest to the army to protest the n.s.a. . activists are already notorious data center in utah which will host super computers able to store piles of phone e-mail and search engine data that has been harvested. in ruins pakistan says attempts to negotiate with islamist.