it's we see a lot of western countries the term citizen becoming offensive because it makes resident foreigners legal or illegal feel like second class people well compared to actual citizens legally you kind of are if you're offended that you are not treated as a citizen of seattle why not assimilate become a citizen of the united states join the team but that's just my opinion. welcome to the kaiser report imax guys are apparently about ten percent of china's cooked and gutter oil. gutter oil as the name suggests is made by pulling waste oil from sewers grease traps waste from slaughterhouses reprocessing it and then selling it as cooking oil i know you're thinking you're thinking gosh that sounds

a whole lot like our modern financial system and indeed street credit is cooked and done are debt created much the same way pulling well from what little savings we have left over from the days we used to work and a little equity from the mortgage traps into which our post-industrial economies have sunk sprinkling a little toxic waste from the slaughterhouses of derivatives and jamie diamond's mildewy bucket shop basement and then reprocessing it all and selling it as liquidity or a market making and wealth creation other branded slop inducing nausea from financial mega banks in the city or on wall street oh stacey burger max they've got our debt sounds as gross as the gutter oil from china we're going to look at that gutter oil this video of chinese street food made from gutter oil is the most disgusting thing you will see all day and aside from being downright disgusting

it's also contains carcinogens and other toxins let's look at the video here some would be making it it's all in a day's work for this woman she opens up a manhole cover and scoops out this much slower because she can't she works in the streets at the southern chinese city of shenzhen a foot soldier in china's so-called customer oil industry this reminds me of a story we covered here on the kaiser report a couple of weeks ago about the fat birds in the sewers of london these are enormous concentrations of waste and moistened 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 reprocess. toilet paper written fat birds 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 reprocessed to bits available as it commenced bowls or yes on the street with the slop in the financial system so they take credit they take collateral that's been 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 slop in the form of a guilt which is then the collateral upon which the housing bubble in london is based if you were to examine the balance sheet of the bank of england you would find reprocessed pork slop and gutter slop and oil and all kinds of dog bar bit in the us like you know still and whatever it is you know trying to cut it get into

little mandarin there. you know where the men are no no no no but you sound like the balance sheet of the bank of england it is as toxic as that as the reprocessed oil was being dredged up from the streets in china and the effect is the same its 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 it might look like your your pork bunnies being cooked in oil but that oil is from 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 on big finance so he was speaking to the f.t.'s one hundred twenty fifth birthday. party and he said he mentioned that since 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. first of all what wasn't covered. under twenty five your birthday party was mervyn king popping out of a cake. and his moves were dangling. you know tony blair was there backup dancer pole dancing in the background with his moves and then david cameron set 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 and 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 collapse is 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 it's worth paying to 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 u.k. residents from banks were two point four trillion pounds that's one hundred sixty percent of g.d.p. of 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 inturn 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 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 whorehouse 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 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's his job carney is a full stop and if you open up to 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 in the real estate speculation steph spit known as the city of london continue on this because it gets worse so he said we're we're willing to accept a wider range of assets so-called acid use condoms is one way that's euphemism for use condoms extending to raul loads that's euphemism for 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 that either 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 their son plots of real estate in london that are as big as two stucker table for one hundred fifty thousand pounds that's the equivalent of tokyo one thousand nine hundred eighty nine this sucker is good will blow they did measure in an article here that a house were the size of two super team they measure things in terms of tells us

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 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 not marconi who were not so i don't see the product out there lol all right stay here we gotta go thanks for being on the kaiser report. stay right there a lot more coming your way. liz.

lemon live. live the luck. club live. do you think your argument about turn came bang that prodigious example of all the muslim democracy that was able to separate the its religion 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 a skiff piece of bacon to go away with hyperinflation and video of all that die you get all the time so achieved so much economic success and i think that was great but the problem date is of course they owed one vidhan they is going to do it has changed he now has become much more to talk to d.d. and discoloring does any criticism and more bad annoyed.

you are to. welcome back to the kaiser report i'm nice keyser 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 blog site by watch ireland dot blogspot dot eat jam and walk and ties the report thank you very much max great to be here all right now you're heading into the one hundred and forty s. this week as a protest against a bondholder of bailout in ireland tell us about the campaign 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 response in terms of you know sharing to bolton and you know lifting the bank they're told to not 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 he's spoken to. or seems as if we're not going to be able to ensure after all and at the time you know across north africa if you look through 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 getting into it and they so this is happening around the same sources have to go inside yourself to find some common cause what these folks there were seeking in the past because a sect of banks in ireland have occupied the irish people there's occupation going on well not unlike the british occupation from 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 outright land grabbing but using financial instruments that it's hard to communicate that yes from morris it was just as effective probably far

more effective as well because and like seventy billion. is the actually banked at both ends we've been under six and i'm seven billion and people are just not a religious and you know i think the scale of it is when it gets people i mean if you talk about zero 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 balance of these unsecured international bond holders. where so far we have polled like d.t. to some there was a blog for whom it was a brilliant clocks were called namor when your country might have come across a sudden loss on nam or wine it was a narrow wine like of course and olive 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 had subsidies by the government to keep the wine industry going so there's a government subsidy reference to you know market line like exactly all one world but he did say he did it in numbers on this and sixty nine point seven billion that's what we've put into so for 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 front and poured into the banks then the rest of it is money this is actually no to europe so between the two would become super six 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 have just three kids it's about seventy five thousand euro per family that has just been put on to destroy those of the irish people from its own presented in skate it 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 he'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 sow here you've escaped the whole troubles

period and the famine carried only to be visited by another. plague of locusts the banks terse and they look like they could finish the job the irish soul is at stake here because not even your local media and ireland refuses the covers a fact that irish people are being terrorized by pankhurst what's wrong with this irish media are they 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 the same as if there was no beanos people talk about the famine in arlington or talk about to be you know something like this i was taught about the second they're still there was no human life there was a shot that there was a failure of one food i know but it was a staple food of the people a staple food of the people the place or but it was you know 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 over and there was no beethoven and there was a baby and we didn't get his cent of debts right up but the so called be you know not one cent of death right don't just mean these players who are secured and secure because we have a secure is based upon dollar to all the rest yeah but it was put your own interest yeah but now we have it and this is deposit we got was dead piled on debts we got additional debt and the so-called data was always bit off when tries to delete it to teddy to try to come into member of a memorandum of understanding like if the i.m.f. came into any country one of the first people hit but the one told us they took a hit when the i when the i.m.f. came into ireland there were companies by the e.u. and the e.c.b. and the one thing that 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 a bit over and that's what they got and now we're hearing that we're going to exit this beddoes as i 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 shaped they believe in here and we have legacy that we have no debt slaves in and for the next forty years just on the producer notes that we're going to support her focusing on no we have a major move using the technical group and it's going to take that group and it was because they were the technical group tactical group and then of the a little saying that parliament was actually a violent these are independent 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 everything else because there is no democracy and you know haven't 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 one which is the ending of the previous 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 because this is the headline in the financial times in the financial press and in the german press you're not see overlords have said that oh ireland is exiting the bell end but this is really just sofa straight it's if 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 correct would out of interest each time like the police or norse for example of such people in 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. you know she got to be one of the top people in parent something one billion to be no two insolvent banks using the emergency liquidity assistance fund we specifically states that can't be used to beat us 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 if they did moses i know. worse and worse surely if i fail in trying to start a retail bank we're going to have the process just the banks set up your science speculation is a question for us it was would have to mean rotten banks the for the economic so it was not done for the benefit of the irish people thought they were billion euro they had nothing to back their justice task in jail yet they were shouting and here is a searing irony i was looking at the tower trust through the river here and we badly need something like that and i don't know just enough to short people into because the medieval decided simple yet energia these days if sean was in china he would have been beheaded erratic because he's a naturally 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 but 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 tough political toss united behind this one thing because first we said to the very

beginning 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 incomplete combs it 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 to foster night and we would need to take this as you had even the chief economist with city city back up in the city copper city bank lately saying ireland is over thirty six billion sixty billion euro by europe but it's 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 next next think about this now they're 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 this government to ask e.c.b. for permission to bring their meaning for missing or bonds doesn't know headed in the oceans or back to permission or has money that we were borrowing every year to

buy would begin every year to destroy. the payback does you know these notes but knew when to put a stroke and every new news they define as mysteries occur until the finest 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 like on the bombs ok let's say we're told a stroke doesn't matter he's saying he lied to media paul you light the media law goodlife have to hold a string of half truths about i called to task sure because he hasn't said it was because this is a liar 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 there is discipline bongs i don't know sitting in the central bank twenty five billion booked as soon as they are sold on they have been issued as soon as they're sold on to twenty five billion dollars is taken and is also destroyed and almost there seemed like there's the promise you know if we're going to execute it from what you see it 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 citi bank j.p. morgan goldman sachs same kind of accounting fraud area have an ireland disguised noon in the finance minister shyster banks are no good next and then enda kenny the current. chain shock. how you say that word to shock t shock which is prime minister you know it's a leader it's actually tries he has to say she was the leader you know it was a leader russell he said it's translators into leach but what kind of name is end it is that where you say i said this kind of weird thing is called and you know but what i'm i've sat there and you have no you know what the hashtag and the and and a like what an independent and put it and then 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 a four would be and the county michael noonan pass represents and in getting more and some of these are very good graphic and immediately years of experience in the private sector zero qualifications teaches this like mao's china support again before does well it came as it never said you know that was a punk rock group you know everybody else and that daughter i called the nodding heads that just you know ideas for guys coming to come into the cabin as possible with their ideas no a lot of those stick to your 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 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 sinker gas you know our friend plucky those are the top of thomas in the world right now you know a lot of the actual chemical comics next week maybe you will see 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 reply with me max geyser and stacy herbert i'd like to thank our guests. if you'd like to get in touch tweet us at kaiser report it's a lifetime. of economic up and downs in the final. days but the deal and the rest because i

take it will be a briefly told me. the fifth more than four hundred cities around the globe are hosting mass rallies for fairness justice and freedom. followed million mask march on our t.v. and r t v dot com. more news today violence is once again flared up. and these are the images the world has been seeing from the streets of canada. giant corporations rule the day.

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me. journalism or terrorism the partner of a newspaper reporter who revealed intelligence leaks is accused of espionage and breaching britain's national security. america's huge soon to be open 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 inside of the middle of an army base so you can protest an army to protest the n.s.a. activists to seize the already notorious data center which will host supercomputers able to store the millions of phone calls emails and internet searches that have been harvested. and. the american ambassador saying washington scuffled talks with islamist militants.