taliban in the country. kaiser report coming your way next stay with us here on r.t. . welcome to the kaiser report skies are apparently about ten percent of street food in china is cooked in 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 in gutter debt created much the same way pulling well from what little savings we have left over from the days when 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 stacy herbert max they got our debt sounds as gross as the gutter oil from china we're going to look at that gutter oil this video of tiny street food made from gutter oil is the most disgusting thing you will see all day and aside from being a downright disgusting it's also contains carcinogens and other toxins let's look at the video here some would be making at the school in a day's work for this woman she opens up a manhole cover and scoops out it's much slower because she can't she works in the streets at the southern chinese city of shenzhen

a foot soldier in china so-called customer oil industry this reminds me of a story we covered here on the kaiser report a couple of weeks ago about these fat birds in the sewers of london these are enormous concentrations of waste and moistened toilet paper that are 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 read in fact 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 birds 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

to bits available as a mess to polls or yes on the street with the slump in the financial system so they take credit they take collateral that's better be used 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 me 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 phil and whatever it is you know trying to cut it get into a little mandarin there. you know where the men are no no no no i'm saying 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 nine times g.d.p. all first of all what wasn't covered the f.t.'s one hundred twenty five your birthday party was mervyn king popping out of a cake. and then his moves were dangling. tony blair was there a backup dancer pole dancing in the background with his moves and then david cameron's got 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 the sank to the world banks give us your toxic debt you missed the flop the junk the collateral that it's

worth a penny to zero on the dollar put it on the balance sheet the bank of england. price that one hundred cents of 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 no 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 you've got mark carney who will give you cash to visit the whore house of real estate speculation 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 mountains and. garbage and trashing 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 he 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 wider does not look what was to be clear about something if mark carney were honest he'd be wearing a dress that 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 there's one that's euphemism for use condoms extending to rawl loads that's you from ism before are some of the things in the kama sutra which you can't describe on the show because it's a family show. it sounds like the gutter oil the got her daughter 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 risks asset. asset as sassing you know since the mare but of course we have this got our global economy because nobody can 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 the 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 enormous 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 stucker table for one hundred fifty thousand pounds that's the equivalent of tokyo one thousand nine hundred eighty nine this sucker is good old pillow they did measure in an article here that a house were the size of two super t.v.'s they measure things in terms of stuff tells us why ronnie o'sullivan grew to snooker players ever in the history of the world is probably the best economist to run the struck out of the rodeo so all of them should be running the bank of england not mark carney if you're going to measure your economic growth in terms of super terrible ronnie o'sullivan charge

because you don't bust the other player in the world not marconi who were not so the date of the problem got there lolol all right stacy ever got to go thanks for being on the kaiser report. stay right there a lot more coming your way. it was a. very hard to take i don't. want to get on here there's a lot that never had sex with her right there number. one.

to. go. with. it. but. what if. the. do you think your argument about turn came bang dab prodigious example 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 some being accompanied by skip gates and make you go away with hyperinflation and very valid diagonal with the tide so achieved so much economic success and i think that it was

agreed with a problem that is of course they owed one veto day his that had to do it has changed he now has become much more to talk to did he and this stalling does any criticism and more bad annoyed. you know to to. welcome back to the kaiser report i'm nice guys are time now to turn to demean or flip a sports journalist at the irish examiner but it was also leading a successful campaign for irish debt repudiation as well as managing the blog site bond watch ireland dot blogspot dot eat them and walk in the kaiser report thank you very much max chris to be here all right now you're heading into the one hundred and forty s. this week other protests against

a bondholder of bail out in ireland tell us about canton we stuck to the sixty 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 talk in terms of you know i'm 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. or seems as 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. you know it and they so this is happening around the same time this is have to go inside yourself to find some common cause what these folks there were seeking in the past because an effect of banks in ireland have occupied the irish people there's an 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 education 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 actual bank that bought into we've been under sixty nine point seven billion and people are just not a religious and you know i think the scale of it as well it gets people i mean if you talk about europe as five million or ten million or whatever but i think once you start mentioning billions of homes in people's eyes kind of gives over ok let me ask the question how much was the total balance of these unsecured international bond holders five. well so far we have. to some there was a block for whom it was a brilliant blocks were called namor when your country might have come across a sudden loss on namor winding as a narrow one like of course dollars being the slush fund that all the bad debts are

being laundered throw and it's similar to the wine lake and france where they are subsidies by the government to keep the wine industry going so there's a government subsidy reference to you know market lying like exactly all during world wars and he did say he did to the numbers on this and sixty nine point seven billion that's really put into so for some of that money is money just that has been taken from us like we had the 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 those who would have to go sixty nine point seven billion and you know if it works or support fifteen toes in europe plus not good if they can ever time you have to add those three kids it's about seventy five thousand euro per family that has just been put on to this role of the irish people home is on presented in skid 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 create a manmade famine of credit so that you're starving people to death in a way using financial instruments and so here you've escaped the whole troubles period and the famine carried only to be visited by another. plague of locusts the banks durst and they looked like they could finish the job the irish soul is at stake here because not even your local media and ireland refuses to cover the 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 the same way that there was no billows people talk about the famine in arlington or talk about to be in a circus i was taught about the second they're still there was no human life there

was a shot at there was a figure of one food i know but it was a staple food of the people a staple food have to keep the pleasure but that 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 famine means that there was absolutely no food we were exporting food there was a decision taken by did 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 bailout and there was a baby and we didn't get a cent to best writer but the so called beta not one cent of death right don't just mean these are secured and secure because we should secure is based upon dollar to all the rest but it was put your own interest yet but now we have it and his departure was death piled on debts we got additional debt and the so called beta was always bit off when like tries to beat 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 to t.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 bailout as i said to many times people in the i.m.f. when they try 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 would be leaving here and we have a legacy because 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 oh we have a major move communicate using the technical group and on the technical group and it all is because i work in the technical group. at the end of the aisle it all saying that parliament doesn't actually have aisle and 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 it's gotten so different difficult to get a for the first time ever behind one of the propose that we have for back this relief and i want to force one 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're having 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 bella 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 france you're not the overlords have said that oh ireland is exiting the bell end but this is really just so for st it's a you're playing with words because they've just church they just transferred 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

a prince or norse for example i was thirty one billion you were 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 hundred top people in parenting something one billion to below two insolvent banks using the emergency liquidity assistance fund which 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're afraid of you excited to see it did moses i know. worse and worse surely if i had been trying to start a retail bank or got the process just a bank set up your finest accusations against us came and 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 being you were they had nothing to back their justice task in jail yet. where shouting and here is a searing irony i was looking at the tower trust through the river here in london and we badly need something like that and i don't know just enough to short people into because all the evil dissipated simple yet not china these days if john was in china he would have been beheaded erratic because he's a naturally i would be suffering area but that's just another charge of legal

precedence that unfortunately china seems to be more up to speed other 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 us one thing because for three sets 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 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 the city you had even the chief economist with city city back in the city caucuses your bank lately saying islanders over thirty six billion sixty billion euro by europe but their combined emotion that we're putting don't it on because enda kenny and michael owen have stated over and over again that they have never asked for back that's right up front that never even asked for it next next

think about this now they never even asked for us they're going to europe is open negotiations and they haven't even asked so we're putting down a motion of that they detected group on our behalf putting our motion in the door asking to go of this government to ask e.c.b. for permission to bargain their meaning for missing or bonds doesn't know headed into our central bank to commission off as money that we were borrowing every year to buy we're building every year to destroy. the payback does you know these notes but knew when to put a stroke and fabric noonan knew the news they define as mysteries occur until the finance minister get what he put the stroke i mean it was not the full stroke he has produced 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 yes and he's saying here are the media policy light the media law goodlife have to hold a string of half truths of how they called him past sure because he is intensely because this is a liar. slate on this program what he has said is you know the promissory notes are

gone and that's true but he hasn't told the rest of the truth which is that the discipline bonds doesn't know sitting in the central bank twenty five billion bucks assumes day a sword on their pretty short as soon as they're sold on to twenty five billion dollars is taken and is also destroyed and almost to seem like they're the promiscuous we're 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 very avid ireland disguised noone in the finance minister shyster banks are no good next and then enda kenny the current. change shock. you say that word to shock teach shock which is prime minister yeah it's a leader it's exercise it has transitions the leader you know it was a leader roughly said it's as leaders 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 what i'm

not the new hashtag no you know what the hashtag and the and and i like what an independent and put it and then put it into into place so here's a guy who's mostly representing his people yes but he's represents shysters banks there's a terrorist financial terrorist oh how did that happen you know. what i think 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 him and getting more and some of these are very good traffic and new 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 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 or their squillo yes we're going to be in kilkenny for the kill comics best of all next week myself david mcwilliams a constant thinker gas you know our friend clocky those are the top autonomous in the world right now you know a lot of the intel can excel to comics next week maybe we'll see it 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 kaiser 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. good

lover tour. to build. anything mission to teach me. this is why you should. only. economic down in the final month. and the rest. will be extremely.