i am backscratcher welcome to the kaiser report the ball gary ns and romanians are here grouping on doorsteps across the u.k. according to british tabloids the same tabloids of course fail to mention the j.p. morgan banks there's been definite kidding on our financial system for years and collecting big big bonuses from shaking down and scalping the population do that's abelard's report this no maybe it's because jamie diamond dances and hangs with hipsters was no faces or that jamie diamond dances and tickles young women in many places no it must be the jamie diamond dances and never ever fail to draw four aces yes the dancing shakedown man always wins stacey. max well yes the remanding in some bulgarians are here and it was all the headline news across the u.k. of course leading up to january first british bankers are worse than roma beggars

says damien draggy chief advisor to romanian prime minister so he is the minister in romania for the roma and he says that the bankers are worse than any of the roma beggars and he says quote the roma begging in the streets are obvious because we see them they ask for one pound or one euro and they bother us yet some of the people in the banks are stealing billions of euros but nobody sees them because they are on the sixtieth floor that's very true very true the people who come in or people who work here are just basically begging on the streets it's something that is repeated in the boardrooms in the banks across the nation when they go begging to the central bank for free money free change to bail them out of their losing positions to bail out their zombie banks they're constantly begging the central bank who for some reason always acquiesces and gives them money i guess because.

they always threaten to crash the system unless the bank the central bank gives them a few extra bob to cover a bad position well in fact j.p. morgan itself mentions this in the latest chart j.p. morgan presents quote the era of central bank driven equity rallies and if you look at this chart they themselves j.p. morgan points out operation twist then drag the speech then even omics and every single time they say woohoo it drives the stock market higher and who are they doing it for for the likes of j.p. morgan well this brings up a point that we've mentioned before is that in these economies driven by central banks they don't need workers they don't need taxes from the workers to fund the government or to fund the zombie banks. so workers are treated poorly they are sensually cast aside people or have the feeling as though they're being abandoned because they are being abandoned because these bankers don't need them they don't need their taxes they don't need their wages they just go to the central banks to

print money for free so all the policy set around the bankers bankers are king and the american economy and the british economy that's absolutely correct that is run by a beggar class and of course you know going back a hundred years ago this would be called beggar thy neighbor and they would use this on a global basis in terms of trying to debase each other's currencies to get a foothold on global trade but now they don't even bother trying to pretend as though they're involved in any underlying economic activity that portends to have something to do with supply and demand they simply beg for big city they're just begging for begging sake well so january first all the romanians and bulgarians were expected to arrive you know millions of them according to the likes of the daily mail was so all these journalists and politicians were actually waiting at the airports for these people to arrive to see what they had to say i don't come to rob your country first romanians to arrive in britain following changes to migrant

rules insist they are looking for work after being greeted at the airport by labor m.p. keith vaz so they say they're here not to rob people and steal where bankers show up and that they promise this is what this is how david cameron entices them in we have to lose this regulation in the world you could really hypothecate infinitely here come on down well remember during the height of the great crisis i suggested on this show that if you see a guy in a three piece suit cases arriving in athens these are beggars and that they should be treated as beggars and yet they were lauded as saviors so any any people that show up across this border you know say shoo shoo go way back or. or a break from the president or make them a prime minister because that's who gets the all the power now are the ones you can beg the most so as i said you know the bankers are encouraged to come here to the u.k. and they're not told to not bag in fact they're encouraged to bag and to plunder

and to steal and one of the sticks is always to throw a ring on the ground and they convince the person oh look i found this gold ring if you give me twenty pounds for i'll let you keep it and of course the greedy person thinks it's worth like one hundred fifty or three hundred pounds and they think they're going to make money on it of course it's a fake well here's their equivalent of a banker gold scam how to keep banks from rigging gold prices authorities around the world are gradually piecing together a shocking picture of how banks have manipulated benchmarks that influence the price of everything from mortgage loans to foreign currencies so all the benchmarks are being rigged essentially bagging their front running they're taking from the population they're begging they're they're picking their pockets they're picking the pockets of the population and the bloomberg then goes on to know all of the evidence about the gold price the gold fix here in london happens twice a day that this is being manipulated they say the price setting mechanism known as

the fixing provides an easy vehicle for manipulation twice every business day in london representatives the five banks and some select clients participate in a phone call it which offers to buy and sell gold or put forward these calls determine the morning and afternoon gold fixin's which serve as the benchmark for trillions of dollars in transactions around the world yeah and we know that the price is fixed with every single index is rigged we know this i think finally gold is being discovered to be rigged it was the last the last last market to be talked about in terms of being rigged because it's the one market that is the litmus test to decide whether or not the dollar baby. the markets are being rigged so now we know that yes the gold market is also rigged well yeah it's rigged by central banks on the one hand in order to make their currencies look stronger but this is a twenty year chart here from bloomberg and this goes back to the one nine hundred

ninety three through twenty twelve and you can see that the spot price of gold tends to drop sharply around the london evening fix which is ten am new york time a similar if less pronounced drop in price occurs around the london morning fixing the same daily declines can be seen in silver prices from one thousand nine hundred eight through two thousand and twelve so that's twenty years of data every single morning in london in the morning fixing here it drops a little bit but at the evening fixed opening in new york it drops precipitously this is over twenty years at the same time now bloomberg says about that for both commodities there were on average no comparable price changes that any other time of the day these patterns are consistent with manipulation and both markets now of course. anybody could have front on this because it was so consistent for the past twenty years that any normal person out there could be able to front run this knowing that they could buy right after that morning basically new york time you

know and sell before the following morning that's right i mean i saw a study that said if you were to you know buy in a golden age and sell it in a new york opening you would have any allies rates of like forty percent you know made more buffet look bad by comparison because it's so predictable and it's so ingrained in the psychology of everyone out there they know that the gold price is fixed but the point is that if you're going to be dissuaded from allowing romanians or burgan or old gary ns in your country because you fear that they're beggars there's ears to duplicitous statement is it because you've got beggars at ages b. c. barclays lloyds and r.b.s. and the bank of england under mark carney and george osborne these are the biggest beggars of all they go with their begging bowl into the into the indexes every single day and they beg for more money and we you know the thing is do you want to feed there's a big sign of the park don't feed the ducks why because the duck crap is uncontrollable you they can't hire enough people to take care of the duck crap if

you feed the ducks too much same thing to george osborne you're just feeding him the ability to manipulate these markets and oz born crap is littering the country and they're showering the country in this kind of irresponsible fiscal policy or faecal policy in this case and the result is advancing poverty and the underwriting of a class of kleptocrats and beggars in this country that have total disregard for human life they don't have any regard for human life that's not the kind of people you want to feed. well this gold raking over twenty years is daily pickpocketing you can't see it as anything other than that so if you don't have a problem with bankers doing that then shut up about the roma doing it who cares if it is that's our society this is what we do for a living here there are very british in fact if that's what we do every day in the

london gold fixing welcome this is what we do here i'm sure of that from getting the idea to come here is that this is the mecca for for rigging markets and begging so why not come here and do what you do best right here except get paid a lot more for it americans wrong side of pay gap run out of means to cope so since we went off the gold standard as we've covered incomes have real incomes have declined drastically for working class americans anybody who's not in the top zero zero point one percent and they've coped with the declining real incomes by the housewives beginning to work through the seventy's and eighty's and ninety's now well that's a peek out wife working have a peak women in the workforce and then men were getting two or three jobs that's also at the peak they can't get any more jobs than that and home equity extraction but we can't do that anymore because of the tightness of credit available to joe baca donuts so now the result has been

a downsizing of expectations by almost two to one sixty four percent to thirty three percent americans say the u.s. no longer offers anyone an equal chance to get ahead according to the latest bloomberg national poll and they look at this and bloomberg finds that few of the reasons are the number two top two reasons are government and fed policies as jamie diamond j.p. morgan pointed out with that chart the equities rally is where at the top five percent really have their wealth concentrated now government policy taxes that a lot less than they tax income from labor. and then the fed is actually driving up the price i driving up the wealth of the top percentage right or the squeezed people now to the point where they just can't squeeze anymore the women enter the workforce madam got multiple jobs and they use the home equity line of credits to extract wealth from their houses that's now finished and then the stock market

straining in a bubble territory so that's kind of run run out of runway so to speak so what's next what trick will what rabbit will be pulled out of the hat to try to keep this debt marathon going well begging that's where leaving in a beggar economy they have to start begging for get all this stupid thing working him like contributing to the wealth creation start begging taking pickpocketing turn america nation of beggars well i'm sure it had to come to this very well then we must go thank you. keep begging. all right states have a second. lot more. drugs

some of the sixteen percent imports came from illegal senshi. the european union is ironically taking fish from some of the poorest nations on earth so this is a very serious and very urgent problem that needs immediate international action. they enter our territorial waters they fish they load the fish into the ships and

leave for europe. to day illegal fishing just taking the bread out of our mouths. welcome back to the kaiser report imax guys are time now to turn to james turk he's the author of a new book the money bubble what to do before it pops james welcome back to the kaiser report thanks max it's always to be

a pleasure to be with you all right let's talk about the money bobble talked a little bit about what it's about you know in two thousand and four john rubino and i wrote the coming collapse of the dollar and we had two basic themes in the book one was that housing was in a bubble and it was going to collapse and secondly he wanted to buy gold because it was undervalued going to go much higher. what happened in two thousand and eight we thought was going to bring the ultimate collapse of the dollar but it didn't it's been postponed by this unprecedented amount of money printing by central banks around the world so earlier this year is gold started to slide you know john and i started thinking well maybe we should write a follow up explain why gold is still good value why it's going to go much higher and the bigger issue that were created as a result of the two thousand and eight collapse and government response to it which is the money bubble in currency is going to be that is the bubble and that's what's going to pop you know as we talk about the outcome that many expected after the two thousand and eight crash one was a massive money printing which we got. inflation which we didn't get in the way

we thought we would get it we got it in acid price inflation and we got it in some price inflation the c.p.i. cetera but not to the point where the mainstream media was reporting like they were back in the one nine hundred seventy s. oh my god there's an inflation ramping up there's no wage inflation wages have been stagnant so it seems to me and we've finding out more about this that the inflation worth taking place in metrics that we've seen that people haven't talked about and i think it plays into this money bubble idea is the inflation in it in manipulation and fraud in index manipulation so many of these indexes are being manipulated we're finding out there the energy index library for x. the gold market so there's there that the problems are there but they're masked to some degree is that correct you know this sort of salute correctness is one of the things we cover in the book that a lot of false reporting that is.