welcome to the kaiser report i'm max kaiser w t f in the u.k. is r.b.s. slaughter's s amazin than robbs are still warm corpses meanwhile in geneva the p five plus one talks have resulted in iran being forbidden from creating its oh i l. for g o l d and in the p r c the s has hit the f. for the dollar on the s h e p b o's see a stone a whole bunch of. you at the u.s. treasuries tell me more s.t.a. see wise to see max we're going to cover all those in our headlines today first r.b.s. kills off good firms for profit world bank of scotland you know the taxpayer owned bank is killing off small businesses to seize assets for its own property empire according to evidence referred to financial watchdogs by vince cable the business

secretary in particular this this unit of royal bank of scotland called global restructuring group g r g basically drove small and medium enterprises into bankruptcy into administration in order for r.b.s. is units called west register their property division to seize their property at knock down prices yeah really i mean we've been talking about what's been going on here in the u.k. for a while and area r.b.s. which is down a government owned bank so it's the government so for example we've got a couple here any in cheryl warren in portsmouth they have been subjected to treasonous activity by their own government because the government owns r.b.s. and here's a smoking gun as the sunday times point out that when this couple bought those hotel in portsmouth a condition of the loan was that they had to take out an interest rate swap. and as we've covered on the show before this is

a weapon of mass financial destruction interest rate swaps blow up in your face like an improvised exploding roadside device in afghanistan if interest rates go down and interest rates are guaranteed to go down because the bank of england brings in quantitative easing or mark carney brings in forward guidance to keep interest rates down so r.b.s. sold an interest rate swap which added a half a million pounds to the debt which then the property was a say by r.b.s. own property sayers at an artificially low price two million pounds but no below what was actually worth then they stole the property from eddie and cheryl warren had this hotel stolen from them from cameron oz born in r.b.s. this is financial shares of these does couple muslim up in afghanistan and had their heads blown off and chopped off in saudi arabia for cameron i was born and r.b.s. doing to them what they say they're fighting against in these foreign countries it's absolutely amazing this poor these poor people are the victims of financial

terrorism right here in the u.k. and i was born a camera there are two little piggies on the nipples swinging in the google clubs to the pole dancing. that meanwhile going to kill a british people hope to god divorce their lives and shout balls because there are terrorists. well you know this is something that should not actually be a surprise because we've seen it over and over and over we saw it used against greece we saw it use it as lehman brothers and bear stearns the same sort of thing the techniques were the same basically there were a number of different thing jacking up rates interest rate suddenly or imposing fines on your customer or suddenly changing the valuation of their assets so this happened to lehman brothers it happened to where suddenly loans were called in so these things pulled out the rug from under those companies and their assets were also seized for pennies on the dollar bear stearns and lehman brothers and the government is made. to spy on people the government isn't in league with

the n.s.a. in america get other highly treasonous act to spy on people because they say they want to stop the bad guys and they're the warrants down a portsmouth who have their property stolen use an exploding financial device concocted by r.b.s. in the bowels of their terrorist organization so isn't that duplicitous by the government stacey is that a lot of those warm up to the fighting terrorists you know they subject their own citizens to this type of type of terrorism that is going to duplicitous treasonous government i don't believe in treason so much because i don't believe in nation states or whatever it's a globalized world and there should be rules there should be regulations on the on the football field of this game there are bigger knock on consequences that are more important as they point out in this piece about r.b.s. and that is that by driving healthy companies into the ground r.b.s. is not only runed thousands of lives it is also greatly hindered our economic recovery compounding the misery of millions of hardworking britons so again here we

are where on the one hand they're going to say well we've made a profit on r.b.s. so you the taxpayer who owns eighty two percent of this bank you should be happy but it's taken the destruction of millions of jobs because we've destroyed these assamese and taken their assets and given them to. a handful of the elite who are now billionaires thanks to our you know small profit on r.b.s. most of the. firms scheme and millions of people who are missile days credit default swaps had their net worth is transferred to the club to kratz down there in west west west west minister. well speaking of s. i mean. we have the small and medium size economies of the u.k. and the us particularly the us really in the news in these next headlines so you didn't get much attention because so much other stuff was happening in the international news but china's plans crude oil futures maybe priced in you on s h f e this is the shanghai futures exchange and china which overtook the united states

as the world's top oil importer in september hopes the contract will become a benchmark in asia and has said it would allow foreign investors to trade in the contract without setting up a local subsidy. to increase not only demand for the u.n. and makes it an international reserve currency but remember they're talking about a benchmark they want to different benchmark because all of our benchmarks are run by the likes of r.b.s. who are constantly manipulating things scalping everybody their customers their clients everybody so maybe they want just a more honest system over there has nothing to do with treason or anything it just has to do with wanting a free market that is an manipulated it's a fair level playing field. trading against an index that having that index manipulated whether it's a forex type of index or a live or index or energy index you can create conditions to scalp the global economy the same way that r.b.s. the scalping local british people of their hard earned money so the local

regulatory environment in the u.k. allows for british bankers to scalp the global economy so china's saying you know we don't want to have that money stolen from us we'd rather keep it not have it stolen yes and they want an honest benchmark rate so the other important thing of course is as they said china has displaced the u.s. as the world's largest importer of oil in september so we're emerging into this new world where the u.s. no longer is able to dictate global benchmark raise or what. commodity is priced in and i speak to chen bo who is a chinese works of the chinese trading firm unit pac and he says the yuan has become more international more recognized by the financial market i don't think it would be unacceptable for the world to use the rim in b. for commodities trading now of course this is part of how america gets so much power and gets basically free commodities and good sense to them because they have the reserve currency of the dollar priced all of the commodities in the world the price of that so here he's saying that maybe commodities could be priced in

remember the only way that america can continue the illusion of having a superpower is to continue to print trillions and trillions more dollars to use to a call. wire as many assets overseas as possible and so all these foreign governments simply they say you know we don't want you to steal our property any longer well moving on from there to the u.s. dollar and whether or not it could be displaced by the remember now the talks in geneva this past weekend the p five plus one talks had a historic breakthrough and the thing that was so breakthrough about it was that the u.s. was actually speaking to around because this is so politically unacceptable in america but the talks it happened they were a success iran agrees to deal with powers to curb nuclear work now the important thing of what might have brought america to the table is a paragraph i found in this article saying some curbs on gold trading will also be

removed while iran will be allowed to buy and sell precious metals including gold it will be barred from accepting them as payment for oil or any other sanctioned transaction according to the officials iran's sits on the world's fourth largest proven oil reserves so you know we know that imports to turkey for example of gold has been record there's huge quantities of gold going to turkey so was this iran selling their oil in that for that gold was this a part of that whole deal or maybe the us didn't want gold being trade for oil oh i think what we're seeing here is the world works on a stealth gold exchange gold standard it's a stealth gold standard because it's not formally recognized but here you have as you point out the entire geo political situation in the middle east with iran now doing a deal thanks to john kerry secretary of state and the other people of that committee are engaged in gold economics gold gold backed political maneuvers so

there's a gold standard around the world it's just not recognized as a gold standard and so what we are waiting for is for the world to formally recognize gold as the reserve of the of the world is waiting for that. because it will happen well many are looking at this from the opposite side they're saying that iran is the one that capitulate and they were like oh my god you know american sanctions have destroyed us we need to deal is it the other way around however that america was saying oh my god they're dealing or oil and gold we must come to the table and deal so it's a different way of looking at it and then finally another story that happened at the same time was this p.b. o.c. says no longer in china's interests to increase reserves the people's bank of china said it is no longer in china's favor to accumulate foreign exchange reserves a deputy governor of the central bank said in the speech organized by china economists fifty four meshing wa university he added that they are you on is actually perhaps helping more chinese than it's harming them i.e.

the middle class is able to their purchasing power rises as u.n. rises you're laying out a geo political situation where iran was calling the shots more than people recognizing because they were trading oil for gold that's a possibility to look at this as i have with the gold being traded for oil so that that was what forced the cord and it's stirring the pot in the region because of course it sets up saudi arabia and israel and iran and in the u.s. and the u.k. are all having to rearrange their seats at the table but based on iran using the gold card china which is also exerting some leverage by exerting some other levers in the global economy that are not recognized by the west as it were and yet you see the subtle shift taken place well exactly because everybody said that we're on a petro dollar standard you talked to jim records he talked about this region as

a currency war as well and the petro dollar in particular but first of all if saudi arabia doesn't have the oil it says a member of those wiki leaks cables show that they have forty percent less than what they're claiming officially and ok. so you saying here that again another element unreported or on recognize is that saudi arabia and we were in the region doing a film not too long ago and the word on the street on the arab street was that saudi arabia was overstating their reserves by quite a bit as much as forty percent and of course i would set up the iran and then you see why they were ganging up with israel to go and raid a rat and then around play the gold card right we got to continue this next time because right a frickin time but remember the point there was that the people's bank of china will no longer be buying u.s. treasuries stated over the second half all out war.

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welcome back to the kaiser report i'm max keyser time out to talk to out of a cloud of gold money dot com or welcome back to the kaiser report it's a pleasure max rouser you are the man with your ear to the ground in the global gold market usually have some fresh story beating everybody to the punch what is the latest kind of insider dope you're hearing in the gold market well. i discovered something very interesting from the refining community in switzerland what they are seeing is arab bars four hundred ounce bars being sent to them for reprocessing into four nines that's point nine nine nine nine purity one kilo bars which are. traded on the shanghai gold exchange so they hope they are moving

their gold from the london standard to the new better standard because london bars are nine five so it is less pure than the new standard which the chinese use for their two livers. so they are now in the process of grading the standard by recasting this coming out of switzerland and going through the middle east where basically what they're doing is as i understand it is they're sending a four hundred ounce bars over getting a reprocessed and then taking back into their own storage these one the one kilo bus what does this tell you well it's it's very very interesting one can only suppose that actually what the arab community and by this i mean saudi arabia and what i would call the playboy states from the gulf. looking for something which is more liquid than those four hundred ounce bars right now we all know the has been

a bit of a fall out between saudi arabia in particular and america over first of all barak who they didn't support and so. secondly it was syria where the americans backed off and then the last straw that broke in the camel's back is. with iran so you can see that there are a big political shift going on within the middle east ok so you're looking at this gold market as confirmation of what some are observing as a growing rift between the us saudi arabia that goes back to the early one nine hundred seventy s. when the gold window was closed and you had the beginning of the petro dollar but now that is are threatened because of other activities in the middle east because now you've got the collapse of the syrian invasion did you in part the no vote from the u.k. house of parliament and this detente with iran the saudi arabia and so your so you see that the gold price to go up and what you're saying is that the playboy states

in the gulf as you described them they want to get more liquid and gold to recast this gold because they are now looking toward a post saudi us by bilateral relationship it's a huge change in that relationship i'm speculating that this is the case but this to me seems logical if we take this a bit further then we can get a little bit more frightened perhaps about the implications ok let's do it because go for it because. if they are looking to use the gold for transactions then they are moving away from the dependence on the petro dollar. so they're becoming more asian and less west and in that sense now if the pressure dollar becomes yesterday's story then that's very very bad for the dollar yeah you know whatever happens to gold that really doesn't matter but if they move away to an alternative means of international payment for oil which presumably will be initially throughout asia which we know the asian states in particular russia and china and

so on are promoting very very hard to get away from the dollar then i just think that there is a risk that petro dollars will start going back to new york in pure dollar form and we know what that does to the exchanges right so in other words many people have talked about the fact that you don't see inflation in the u.s. because all the money printing it goes export it goes to china it goes to the middle east and so that's where the inflation is over though that's where the money is it's kind of held in those bank reserves but you're saying that this could tip indicate a situation where money starts coming back from being in storage fact of lay in middle eastern china and you have a wash of money coming back suddenly oh my god prices are doubling or tripling you were right peter schiff was right the inflation is for right and so this is part of the story right it says it is if you like in addition to the whole story can i just pick you up on the inflation in america point we are seeing lots of inflation in asset prices what we have not seen is recorded in the official statistics inflation

if you like on them on main street but if you look at john williams shadowstats figures which he uses the methodology pre-one nine hundred eighty to calculate what the inflation rate actually is in the states he comes up with to a nine percent i'm going in for a second can you say the same thing about the u.k. because the u.k. there is a service like shadowstats they don't calculate c.p.i. in quite the same way they use some different methodology but they claim that inflation is running at roughly two point eight percent which seems similarly mis stated yes i can't quite put the fink my finger on it because i don't have a drawn williams of shouted stats actually doing the grunt in terms of isolating the statistics out. but my experience and i guess you also your experiences of the last year or two prices have gone up considerably more than the two two and a half percent which the bank of england tells us is the case you know it's funny because in this country they talk about the cost of living going up at numbers that are bigger and higher than the inflation rate they don't seem to think that there's a connection between oh the cost of living is going up inflation is low it means

that kind of financial illiteracy coming out of the chancellor's office and the prime minister's mouth is quite shocking in that nobody actually calls them on that but let's move on here for a second the trading of goal is remarkable because at the open they have encountered what they call stop logic events ok now in my day when i was working on wall street there used to be something called halt trading halt trading because there's an order imbalance and now they don't call a halt trading anymore because i wouldn't for an order a balance now they call stop logic which somehow makes it sound logical but it's just manipulation or any logical well i mean there is if there is some reason to it this is just what i mean this is just banging the opening with a huge orders just manipulation right yes. you're right this happened twice yesterday i haven't come across the term before then i'll call it a stop logic but it seems that what happens is that if somebody puts in

a sell order which takes out the complete stack of bids the market will pause until it can some sort of order can come back in the pause i believe is something like twenty seconds which i suppose when you go who is sort of. trading and all the rest of it is actually a very long time and away to some sort of semblance of baum's came back into the market and extended for a bit but i think what is actually remarkable about the whole of that episode is that all this happened well before the f o m c minutes were released and guess what after they were released they hit it again the federal open market committee in the us with. central banks only saw that i was right and furthermore if you look at the statistics in terms of. the growth in open interest the growth in the number of shorts on comix you can see that all this seems to have been planned well in advance in other words the fall in the prices has been feels as if it's almost

orchestrated. but rather than let's say just sort of blaming everybody for insider trading and orchestration and rest of it i think we have to face the fact that almost everybody i talk to in capital markets is bearish and when i come you know when i sort of dig in and say why are you bearish the answer always comes back it's you know it's a momentum trade it's you know the moving averages are turning down is technical analysis is only a way of absolutely no mention of tool of the underlying fundamentals which actually show as i illustrated with my money quantity gold is not significantly undervalued compared to where it was before the lehman crisis and my latest calculation shows it's about thirty four percent under where it was in real terms in the month before the lehman crisis so it is seriously undervalued there also has adjusted for inflation this is an adjusted for the growth of cash money and deposits in the u.s.

banking suggested for money supply growth for fit money growth of the fit money quantity and that's precisely what i write so before just to put this in context or so before the lehman collapse the price of gold as it's relating to the overall amount of money in the system it has a certain relationship to that money system for sandstones the crisis there's been a lot of who pumping up all the money that's that's their exact pumping up the money and but the price in relation to that supply of money is actually thirty percent cheaper yes it's over thirty percent cheaper thirty four percent cheaper more more almost morning but let me go to different because libel rate we know is being manipulated for access. being manipulated there is now in an open inquiry in the u.k. that's bringing in as part of the live for rate manipulation manipulation of gold market so i mean it's not a conspiracy theory because first of all it's it's the suspected by the regulation yeah it's a conspiracy investigation yes that's a difference between a rollover theory now it's an open investigation that they're looking into gold

rigging and of course you know what i don't understand why people would accept the fact that while libel rating is the you know and four x. ray gang that's normal but goldring that's outrageous don't they understand that is part and parcel the exact same thing you wouldn't know if the other end of the deal is the simple is that there are two bookends of the same program exactly you can't in the words unless you've been it really gold your four x. a libel rating won't work yes that's right but there is even worse working than that amount is the central banks by suppressing interest rates down piss to zero they are they a rigging everything all the markets which basically are priced off interest rates but it's on all the it's a market rate it's not a policy the central banks are rigging the markets considerably more than the people they're investigating right this implies that here is kind of a cat amongst the pigeons there there are some anecdotal evidence to suggest that money that would now be going into gold and silver on the margins is going into bitcoin the crypto currency that's gone from a you know under

a billion dollar market cap to ten billion market cap in the winklevoss twins in new york think it can get up to a four hundred billion dollars market cap is your thoughts well i mean i know nothing about bitcoin but what i would say is that the market is false more on the gold market go back it is huge i calculate that china in this year so far has imported two thousand tonnes of gold now that's double what the will go council estimates show so in that context because it is a flea on the backside of the donkey i mean it's really very very small. and that's about all i know about is the idea that there are enough that you know market cap although quite large relative to our what a year ago i was still not at the point where you can make the statement with a high degree of credit credibility that the gold gold market is being impacted yet ok i stepped up except your point there was talk about silver in the u.s.

both e.t.f. holdings and u.s. mint sales are at record highs not a lot of people wouldn't know that to be the story given the current price imports to india are booming. so demand is there going higher it's going it's one of the unintended consequences isn't it i mean if we just turn to india for a moment they have. severely restricted official gold imports now two things have happened fast leave the premium has shot up which basically is the albatross for the smugglers so we know that lots of gold is to getting in and so it hasn't actually it was me it was the pope was a premium sober in india right now i don't know what the premier to go it will get up to like twenty percent raise absolutely i mean what people are doing is where they can get go turning to the result is the silver imports into india are absolutely enormous are going to comp they're going to cut off their wrath on. mcleod thanks so much for being on the kaiser report that's my pleasure thank you michael. and that's going to do it for this edition of the kaiser report with me max geyser and stacy everett i'd like to thank our guest of gold money dot com if

you'd like to get in touch please tweet us a kaiser report. when the crisis leaves us traces everywhere. become the norm. children pay for the mistakes of adults. by working in a tobacco field. they are the ones who come back home the last. games are just in their memories. one thing that i still can't understand and i don't want to good mood but i have

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