for the u.s. military to occupy rudolph's oil rich homeland so while you may remember him as the free gift giving flying who friend from now on folks is the coming terrorist or all rich reindeer so bye bye center but by rudolph there is oil to be secured from those bad guys stacey. yes max things are hotting up in the arctic circle this christmas did canada just claim the north pole canada may have positioned itself to eventually claim sovereignty over the north pole canadian foreign minister john baird made a statement last week that revealed that a scientific and geographical survey regarding its claim to arctic territories will be submitted to the un commission on the limits of the continental shelf and may contain data robust enough to lay claim to the north pole yes all the way up to the north pole everybody has been sea starting to maneuver to get some sort of oil rights up there but canada is going all the way up to the north pole well no.

i'm so proud of my canadian friends used to play aki up there over there and pentagon british columbia and i think they deserve the oil why not we got a canadian air the central bank of the bank of england is drilling for debt all day long drill drill drill debt debt debt canadian buddies up there the north drill drill drill. well why are all of these nations seeking the oil reserves of the north it's a mysterious thing but the glaciers and ice caps seem to be melting we can't mention why it's a very big mystery but why specifically is canada doing this the canadian decision to assertively pursue a claim to the north pole has a clear foundation in this national interest the arctic seabed is expected to contain over one quarter of the world's undiscovered energy resources according to the globe and mail the u.s. geological survey provides more specific numbers the arctic may contain thirteen percent of the world's undiscovered oil reserves thirty percent of undiscovered gas

deposits and twenty percent of the undiscovered natural gas liquids they also mention that denmark is also poised to submit its claim to the same body in the future so you have denmark canada russia us all claiming sovereignty over this area now which has a lot of oil rich and all sorts of minerals under there where you can resell the same bond over and over again through it. but you can't drill the same territory over and over again that's called a war but nations come together and they try to drill each other they did end up fighting each other then you go black hawk. say now that's that. whereas when i came forty seven i know my language may launch or aren't my stinger missile or is my stinger missile it was sort of the first stinger missile a share i needed i needed. and has been drilling for oil with a route up and the stricken elves you know give some forty seven's to an army of elves that's some scary stuff you know you see them coming over the the snow bank

you know a k forty seven armed elves and i'm not going to fight centers army rudolph the red nosed reindeer of shining so bright illuminating the night while we kill down our enemies trying to drill for oil that's our right oh canada i've got a hockey box and a brain. and the macho canadians are going to want this yr. but you know i got to say this guy. has a sense of humor so you go program in our d.n.a. the code to become extinct by drilling oil in a way that will make it impossible for humans to live so this is a joke or this is how he gets rid of us pests from the universe well as you saw there was a black hawk helicopter that flew overhead just as we mentioned the arctic oil reserves it could just be a coincidence but you know the u.s. has long maintained in their naval assessments if you go back and look online it's all online i remember reading in two thousand and three that they were already

predicting the u.s. navy was predicting conflict with canada if canada dares to think that they have any rights over the north pole or any of the arctic region that is superior to the u.s. claim and recently just a few weeks ago chuck hagel the defense secretary said throughout human history mankind has race to discover the next frontier and time after time discovery has swiftly followed by conflict we cannot erase this history but we can assure that history does not repeat itself in the arctic well he's saying that we're going to take it we're going to see is that our black hawks are around everywhere it's ours don't want to talk about naval intelligence of cars in this case you're talking about people contemplating their mabel you know that's it but you know it's very self obsessed and delusions of grandeur as if they're going to conquer the north pole and extract all the oil without actually triggering mass extinction across the

human race which i got to say at this point is probably not a bad thing so you know everybody right now is convinced that all those people in the middle east are spontaneously evil there's an evil religion they're evil people and yet here we see the origins here we're at an origin all of a future evil people defense officials in washington briefing reporters before this . beach made by chuck hagel said there would likely be a relatively low level military threat in the arctic in coming years but even in the absence of a direct threat growing activity in the prospect of new energy resources could demand an increase defense presence in the future so there you have it there already saying boil equals military presence and whatever we have to do whatever words we have to make up whether it's rudolph the red nosed reindeer is a commie or a terrorist we're going to convince you that we need to protect our interests from this reindeer those are the new palestinians and they're going to build a giant apartheid wall made of snow. and they've got

a totally right the whole story about the night before christmas and all through the house not a creature was stirring not even the innuit palestinian victim hiding behind a snowbank well you know the other thing about these oil politics and geopolitics is that one of the reasons why america and beads and nation is if they decide to be socialist and impose any sort of taxes or socialist and nationalist and refuse to export oil so there was a shocking revelation in this latest deal with mexico between the mexico and u.s. over oil reserves in the gulf of mexico oil supply surge brings calls to ease u.s. export ban yes since one nine hundred seventy five there's been a u.s. export ban on exporting any u.s. oil overseas there are exceptions and there's something like one hundred five thousand barrels a day are currently exported from the u.s. but there's a ban since one nine hundred seventy five to export it due to national interest but brought about by the oil embargoes of the seventies so the u.s.

could do it nobody else can do it rudolph gets bombed chavez gets bogged. oh i mean the the war in in the arctic in the north pole region i mean this is something that will become a continuing focus of of of of stress and geo political tension because this will be really the last area of major bonanza in oil and gas and the fact that you've got santa claus up there in the way clearly doesn't matter because they're going to go in there guns blazing and are going to see mrs claus going down in the middle of the night to like them poor iraqi women who are grabbed that are their huts in the middle of nowhere israel and slaughtered mrs claus is going to be just hacked to death by these by ballot burton and exxon is just going to have those videos online it will be like wiki leaks leaked missiles club being hacked to death by u.s.

servicemen to be a big you know black hawk photo down soon to close down so in a closed act act act it is rudolph screaming ma'am the ironic thing about this is a lot of the wars that americans rally behind and shriek about is because of socialism so they hate for example hugo chavez they hated him while he was alive because they said he was socialist well the tough part of this you know lifting the export ban is convincing americans that exporting crude oil developed in the united states helps keep the global price down and ultimately helps consumers no no no they don't believe in the markets themselves but you know they force everybody else to believe and it's a fundamentalism but they point out also is that u.s. oil and energy production is up because of fracking this past year or so you know you're seeing an increase in production in the u.s. it's cannibalism remember soylent green is people struggle to heston onset this is just an energy policy gone whacko so they're going to it doesn't matter that the

amount of credit and debt needed to finance all this energy. extraction requires it zero percent interest rates to continue for twenty years which means that the number of people who are going to be thrust into poverty now is epic numbers which will cause such enormous social unrest and cause a climate migrants roaming the globe with no place to live it doesn't matter that this is a socially hole cost brought about by stupid people like chuck for a chemical who doesn't have two peas in a said to rub together you know. promoting this war talk about a war on christmas and the fox news and there's a war on christmas that you know they don't mention the fact that santa and mrs claus are going to be hacked to death by exxon i mean that's a real war on christmas so what you talked about whole cost in extinction itself and here in the final headline regarding all of this fracking going on is not only does it need to endless amounts of capital in the red to feed the red queen centrum

chemicals found in water fracking sites linked to infertility cancer and analysis of water samples from hydraulic fracturing or fracking sites found the presence of hormone disrupting chemicals the fracking sites quote exhibited more estrogenic anti-s. or denecke or anti androgenic activities and reference sites with limited nearby drilling operations so there you have it where the leading to extinction regardless there's an upside to this because of fracking fluids cause new taishan zz but you know if you study darwin's theory of evolution it's really the freaks and the mutants that set the precedent for the survivors as you have this process of natural selection so the fracking fluid causing freak mutant babies with three arms and seven eyes and all kinds of freaky babies like that that's what's required to make it through this next period of extinction well but finally my point is that this infertility means no babies not even freaking babies so therefore the fact that santa claus is under occupation well maybe people won't notice because they

don't have any children to give presents to. because the same money of presents goes all the babies are dead fantastic thank you x. on all right stacy thanks merry christmas max whoa whoa whoa. you know that's a big no no no. they do want to talk about a whole lot no more. legalese legalese .

leg. if you leave the. economic up and downs in the final months they belong to the new york sang i and the rest because i think the case will be everything we own all. these labels big chunks out here braving the elements in the wanted to stand up to us oil giants chevron. this comes after a massive hunger strike that returned the world's attention to the place that some have dubbed the gulag of our times.

is an undeclared global battlefield in which young and is just one of the front lines. welcome back to the kaiser report imax keyser time now to turn to former energy market regulator chris cut chris welcome back to the kaiser report. now chris cook last time we spoke there's been an investigation has been opened up into energy market manipulation relating to brant tell us about. what another one yes yes it's not the first we're looking at. alleged i call it micro manipulation

which is basically messing around with settlement prices but that's not the first time this has happened i blew the whistle on something like that twelve years ago and as is traditional with whistle blows that blows i lost everything i had. really and that's what happens so they course also relate to the indexes that track energy there is by having an index of a the common on this show before indexes are very insidious form of manipulation because people quote the index and by manipulating the component parts of the index you are looking at the index itself which is then used as the basis for so many of these derivatives contracts correct well this is a bit more complex hence it's called. that was meant to be a joke and the problem for the press complex of of physical and forward contracts is going forward and it is that price which we're talking about

manipulation over here when i blew the whistle a dozen years ago it was about what was going on the markets this is what's going on on the o.t.c. market the physical price it's the tail that wags the dog max essentially ok so we've had now manipulation scandals in the library for x. energy there's an open investigation of silver and gold although there for some reason they haven't cop to that one yet although it looks as though deutsche bank is now involved in the gold market manipulation scheme this is. without a manipulation could these markets function at this point in other words the prices are so corrupt that the contracts in the industry is now based in four decades of faulty prices if you went back to us and honest way to price these things is that possible or now or is it like allison looking glass we have to now live in this fanciful through the looking glass world i think it is possible to come up with a market mechanism but those come up with a genuine market price you can price against i mean they don't call it will win the

gold fix for nothing you know but it's not as fixed as it sounds maybe but hold on in golf exist also being a question about some of the players and they're manipulating the london gold fix as well but my point is that. a lot of commentators have made this remark recently that they no longer look at markets as a basis for information at all because you know markets used to be the old saying used to be price before news that markets discounted future events that markets are sensitive to economies around the world and you could get a feeling for what was happening in the in the world by looking at these markets but that that's been disconnected there's so much manipulation now the ability for markets to reflect reality is seems to be now permanently severed while other. so that's a very astute comment but the way i see it is the producers have an interest in stable high prices consumers have an interest in stable low prices but middlemen have an interest vested interest in instability and volatility and if there isn't

any max they go out and cause it and because the middlemen own the market and run the market which way do you think the market's going to go that's why we've seen in the last those in years the middleman have taken over own run and completely act against the public interest is like a roulette wheel max with about sixteen zeros on it ok that's the way best way of characterizing these casino markets which we now have of course if you are playing roulette and you bet on zero or double zero double zero particular pays out extraordinarily well i have the experience and in monte carlo i play double zero with a spot on that in a one when i went immediately to the beach but. it seems as though the average punter does not when they throw the rule that ball into the roulette wheel in less or an insider cooking the books you're guaranteed not to land on any of those zeros well i don't think i do think that it's basically if you have

a roulette wheel with one zero and then another one the american woman double zero the odds are even more weight twice is weighted against the punter in the us as they are here i mean so what's new if you had sixteen zero then the olds would be that much more yes sure you can bet on zero but the point is if you're betting on red or black then the more zeros there are all the more you to lose that's that was my analogy that right ok i get it first three afficionados. later back you'll know how to play roulette and get a sense for the how these markets are essentially no longer telegraphing any underlying economic realities become all about all about the gamble the point really more than anything else that i'm leasing market maker let me jump back in for it's a market maker that of course in the case of lloyd blankfein i. recall the sacks every time there goldman sachs or j.p. morgan is caught rigging markets or manipulating markets could be the london whale here in the u.k. they fall into this defense well we're the market maker and they and they and the

regulators say oh well that's ok now what's wrong with that the feds talk about a little bit well a market maker has a perfectly valid function it's like the house in the casino has a perfectly valid function but you only let them have so much you know that at the moment that they're taking far more than they are due from the market i'm not saying the markets have completely lost touch with reality it's just that the casino this casino is rigged what i do say in the oil market and all we were talking about here was what i call micro on the day manipulation you know my views the oil markets on a macro scale over many years have been way higher than they should have been because there are people part this is the oil market in particular because there are people participating in it who are essentially lending money to produces but we talked about this on your show broadcasting back in iceland this down big trouble because a qatari government lent them money to day and then turn jacked up the price of the stock which they then used as collateral make loans which and then went and took it

cut or to make more speculation becomes a de gea shane or pyramid scheme but i want to change gears here for a second and talk about iran because you really have some great expertise here and the pair we've talked about in the past your advisor on the oil bourse of cash. tell us what you think the latest deal with iran this means well i'll be there again in fabry on the un in march we been going the sub in the seven times now and in my view it's all change over that this new government literally means business the new government the head of the government is on twitter is that the biggest change president rouhani absolutely and he's brought in a lot of experts people who know precisely what they're doing and they were completely shocked the. what's happened in the last eight years in terms of the number of people who have come in who frankly i'm afraid just don't know what they're doing so that they are completely set on ending sanctions in my view

there is nothing they won't do to rectify matters and become. further details are popping like crazy and they're rather i mean my contacts tommy that the moment the sanctions name hit the dust the oil companies are on the jets within thirty minutes and they've landed and you better believe it is just the third after they have contracts are flying of course the big loser potentially in all this would be saudi arabia two questions about saudi arabia number one. the oil in saudi arabia is as overstated as some have told me that is the say that galois field is forty percent depleted. hugely more depleted then the saudis are saying that is number two with iran now getting all touchy feely and on twitter does that put saudi arabia and their buddy israel kind of on the sidelines. yes sad for first of all concerned the saudis i do think their reserves are overstated and have been for a long by that dramatic a number not hugely bertie's no no no when they're in the comfort zone they talk

about every energy importers in the next decade or so and well that's because their consumption is so vast you know they burn millions of barrels a day in high summer just so they can pump you know water to riyadh i mean it since it's quite insane the waste of energy research but they know that you know they do know that. ok and israel saudi arabia question because saudi arabia and for decades since one thousand nine hundred ninety five that petro dollar which is took over when america defaulted on their bond market one hundred seventy one by closing the gold window that was a huge default by nixon on u.s. treasury bonds and we entered into the petrodollar era saudi america america reciprocal result lation ship will buy or oil you buy or about bonds but now is that era over there i think so i think my take is we're going to move from the year of the dollar economy and dollar politics to energy economics and energy

corp we're hearing this from me from iran he talks about energy diplomacy amounts he means it you know he certainly means it and there's one thing that's neutral i mean if you look back through the go through the cold war the russians were reliably pumping oil and gas into the west never stopped ok through also if you look back at the early days of hominy for fourteen years what did they do they sell the oil to israel far more rich. as only was the private sector got involved. with things called the difficult what a difference of opinion oil metal dollar and you're saying energy oil back currency was a different sound of the same thing. well no the actual currency itself would instead of a piece of paper that's redeemable against another piece of paper you might have a piece of paper or a token or gascoyne ok i just point out a bit coin reference you've got it gets going why don't you know redeemable in payment for gas ok so energy a then because you've had a lot as

a former regulator there also somebody who's gone to these countries and set up exchanges and set up a trading systems you're saying that looking forward you see the time when unit units of energy themselves would operate completely outside of the dollar standard and people just be essentially trading in an energy oil gas and send itself. to cut deals essential absolutely loyal loyal is a scarce resource you know it has a lot of properties like gold certainly has actually added how does this work talk about well i think that we're going to see and i talk about it as a transition through gas at the moment we're seeing oil is priced against the dollar and then gas has been priced against oil but that is my breaking down i'm saying in the future we're going to actually see oil and the dollar price to get gas because gas is gas is gas is gas well oh gas is gas it went meaning what there's a lot of gas everyone's got gas is homogenously it's the same own was pretty much

where are you all oil you have different grades of oil execs texas since a media area you've got the sweet sweet and sour you get the sour as you have varied you have gas is essentially homogenized yet does not put mixed so who's a cutter it's usually gas in russia oh yeah there's a lot of people gas yeah but those are the two biggies right. iran and iran and russia got maybe sixty percent of global reserves between them but cap and cotton. it has a hell of a lot but you know to me gas is finite the future in my view is about renewable on the one hand but the big trade of the twenty first century mice one of them is the exchange of knowledge should know how for oil and gas saved when i tell them this i said don't mine and prospect for oil and gas mine in perspective for oil and gas savings because that's the cheapest fuel you got you're wasting it like it's going out of fashion and they all i'm saying put the prices up to the global market price and they say we do that will be hanging from the lampposts and they probably would

be i'm saying then compensate your population of course and then say that in iran unless speaking metaphorically. like a pretty tough cookie said tough cookies over there mess with them they've got to travel i say saying gas on like oil could be a reserve currency yes i was a reserve currency transition so i got jim rickards who says the s.t.r. the special is on right from the i.m.f. is going to be the reserve i'm saying bitcoin is going to be there was another side to the wrong i'm just saying that big gascoyne you're saying gas gas is the way to go is going to be the ultimate reserve currency you know right a time unfortunately we don't like to have it on for another twenty or thirty minutes but first we gotta go thanks for being on the kaiser about this applies there always are and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank our guest chris cooke the gas man and if you'd like to get in touch with us tweet us a kaiser report until next time.

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twenty fourteen olympics what's this place like the one i use is so special as the russian resort prepares to welcome the world power of the games shaping the city's present and future life so it will bring it this is a momentary pleasure from a very cold snowy windy mountainous stuff yet beyond dylan picks what looks like starting germ of the first on our team. we speak your language anybody will not advance. music programs and documentaries and spanish matters to you breaking news

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