welcome to the kaiser report imax kaiser and jabbing was invented right here in soho london back in the nineteen fifties at the cat's whisker coffee bar so packed with the club that it was impossible to dance and so the hand jive was born today it is the floor of the brokerages and exchanges which are so packed with fraud that it's impossible to commit fraud without bumping into more fraud and so the hand jive of fraud has been born stacey hand jabbing max that. really live let's see if i got it is this the stand. this is the fraud command i'm one of. a lot of balls a lot of this phone call phone call from the fed phone call from friend freddie yeah i got the top of the shoulder. well the phone call from fannie and freddie to mortgage giants in america the government sponsored entities that own most of the mortgages of america now well it's actually when they call the floor of the

exchange that everybody there's a special call apparently signal that everybody on the floor knows that this is a call coming in from fannie and freddie they can buy some interest rate swaps and it's time to front on them the headline reads are wall street traders using secret had signals to manipulate derivatives wall street traders maybe manipulating a key derivatives market and front running fannie mae and freddie mac. hurting the us own mortgage giants in the process according to an f.b.i. intelligence bulletin reviewed by reuters so they're using unsophisticated tradecraft they call it hand jive making. telephone calls using a specific ring tone when it's fannie mae and freddie mac. calling to put in their huge interest rate swap orders and the interest rate swap market just so you know it's four hundred trillion dollars market right so it's a fanny and freddie huge government entity essentially a government backed entity and they do a lot of business and it's the american people who are calling the floor of the exchange yes and then the traders are like down there like belly laugh and oh here

comes mr or mrs jones let's let's cut the nuts off again why given them but terrible execution and stealing all the money. while yeah they enjoy the hand signals ring tones it's an interesting environment the floor of the stock exchange it's a it's like a just a vast need deep pool of scum well the f.b.i. says that in particular there's a whistleblower from one bank they don't mention the bank which is doing this is that involved in this but this u.s. bank a trader from there is the one that was whistle blowing on them and he said there's this. specific ring tone that traders know are conspiring to rig rates on large orders submitted by fannie mae and freddie mac. or front running them in the interest rate swaps market but the f.b.i. max said despite all this proof there's evidence that they've been submitted that they have low confidence that law enforcement could prosecute suspected traders

because the trades concerned seem to be completely legitimate completely legitimate to front run their american taxpayer on these hundreds of billions of dollars of orders to distil money yet to steal money that sort of thing from what the rod the ring tone could be jingle bells yes jingle bells jingle bells it's christmas time for all you people or fetch marks and stealing all your the f.b.i. the f.b.i. they're in our pocket we give them a bonus every year and they do what ever we ever we. are crooks to the f.b.i. or it's funny it's a farce it's american justice is a farce the f.b.i. is i think the cost of bribing the f.b.i. has gone down there is pure deflation the cost of bribing your bill has gone down in america under obama's america there's your deflation of course probably the f.b.i. and then i say of course are listening in and know what you are in turn to know probably they're probably front running as well now fannie mae and freddie mac. were prior to the collapse of the subprime mortgage market remember they were they

claimed on all their bonds that were not backed by the government and government sponsored entities but we do not we won't back these bonds we will pay you one hundred cents on the dollar but because of the size of the fraud remember they were jam packed with fraud and they were jamming jiving hand fraud jiving and they had to take over the whole mortgage market america is backed by fannie mae and freddie mac. owned by the taxpayer so fatty mae and freddie mac. which are government sponsored enterprises often submit large swap orders to hedge their huge holdings of home mortgages against swings in the bond market the size of the orders provide an incentive for front running ahead of the. trade's so the f.b.i. bulletin this is a bulletin that went out to various participants in market and said that these were targets for market manipulation trades that were put in by fannie mae and freddie mac. but again they reiterated it's perfectly legal and their interpretation of the law is going to buoy in the water flow to there's

a ship about to pass by the buoy that's the ferry man from to make orders coming to the floor then you get to make a bet on if that buoy is going to go up or not based on the presence of this enormous ship sailing by the buoy it's a one hundred percent guaranteed trade so course you borrow money from the central bank and the other is on wall street and a lender to you had zero percent interest to make a bet of any size you want on a sure one hundred percent guaranteed thing that this is going to happen in the next five minutes oh and by the way if for any reason it doesn't work out and you lose a penny you get to go down to congress like hank paulson did put a gun to the president said give me a trillion dollars. that's the other alternative you get either bilk you get to steal and it's all under the f.b.i. noses who you like the f.c.c. are addicted to porn well a few things here first of all the brits say boy instead of booie for some reason second of all this is that hand job or fraud the market of fraud is so packed with

fraudsters all the exchanges all the markets so this fannie and freddie being front run that's one fraud on top of all these other fronts because of course the mortgage rates are set by libel rates which are being raised here in london and that is the fix to setting interest rate swap rates which is also being raised here in london so they're really have to regress to get to market manipulation is jam packed with. right banking fraud you know a lot of people say if it's so obvious and so clear why aren't more people doing it or why aren't why my not doing it you know i of course did that for many years as i've said on the show but i think there are still people out there because remember when you engage in a fannie mae freddie mac's front running scheme when you do this kind of engage in this type of trading you're putting money into the suicide bankers pockets who are committing genocide so max we're talking about this i had to have a fraud now we're going to cut to another headline about remember i said that here

we have layer upon layer of fraud just on these fannie mae and freddie mac. interest rate swaps they're buying here metals currency regen worst alive or bath and says germany's top financial regulator said possible manipulation of currency rates and prices for precious metals is worse than the libel rigging scandal which has already led to fines about six billion dollars the allegations about the currency in precious metals markets are particularly serious because such reference values are based on life live or in europe or typically on transactions in liquid markets and not on estimates of the bank's elko neg the president of bath and said in the speech in frankfurt so here even these giant liquid markets he's saying these are being these are being manipulated to rig it's not just these library in europe or weights are set by a cabal of a small group of bankers even these giant liquid markets are able they're able to rig them and that's one of the arguments that you know defenders of rigging the guys who are hand diving fraud those people will say well you can't rig these

markets because there's buyers and there's sellers and there's liquid and blah blah blah look but the shadow banking system we know is at least as big as the visible banking system so it's at least sixty trillion dollars in size and we know that the cost of borrowing money to shed a banking system is their own and we know that people who work in the shadow banking system there is no limit to the amount of money they can borrow to manipulate a market we saw this in. greece they totally destroyed our country we saw this in ireland they totally destroyed their country the t p p the transpacific partnership is the same shadow banking system borrowing unlimited amount of money zero percent interest to do a leveraged buyout of planet earth as honestly and there's no regulators there's no public discourse there's no pushback against this the regulators are examining how traders who communicated instant message groups exchanged information on client orders and agreed had to trade at the time of the fix so they're also joining. investigators regulators from the u.k. u.s.

and switzerland of course where dabbous is where all these guys are hand diving together on the disco floor all drunk and what are the chances that they're actually going to investigate the guy that they're having caviar with tonight and drinking champagne and then they're chatting on the dance floor communicating with each other i have to investigate you what should i say to the people paying our salaries to pretend we're investigating you and the banker says back just tell them to. yes very very very specific can gesture there and jiving old school might say yes there is no. forum on regulatory fidelity i can assure you they're stuck for there's no panel in dad most this year legal solutions do what happens when your bankers commit fraud no none of that is taking place as i've explained before it's a weapons dealer swap is where find people who deal weapons of mass with the actual

destruction and go to trade it's like a gun show or british aerospace or they have a show where they showcasing sting ray rockets or missiles and things i mean that's what dabbles deserves whopping different ways to commit massive financial fraud and they get together and then they they are the hookers the price of hookers this year is never been higher i think christine legarde an hour with christine legarde this year cost seventy thousand euros that's the most expensive i've heard i'd love to see the disco dance floor there because imagine the ring tones as soon as somebody is rincon goes up oh my god if any freddie are placing an order let's go from around them and it's a stampede to the cell phone tower and you know yeah this is the devil stance so they get the white man dance so they're trying to you know dance like a white man right like a farmer. and then the ring tone goes off like don't go both single bells then the dances but i still bottomed out i still gonna sell for the for those fro from frodo

making money christine lagarde is a crook and then the ringtone goes off and then it's back to the white man farmer days. there's you know there's a george soros you know. vomiting on somebody some triple martini kamikaze had was out but with sebastian is also investigating deutsche bank for rigging manipulating gold and silver prices and now this this regulator from baffin says that the issue is causing such a public reaction is understandable the financial sector is dependent on the common trust that it is a fish and and at the same time honest the central benchmark rates seem to be beyond any doubt and now there is the allegation that they may have been manipulated or that's the that's the regulator head type who didn't know that i thought it coppertone sun tanning lotion remember the girl with the job lost her the job the dog was pulling her bathing suit down to see her little bare cheek i

was thirty five that's the regulators and i'm in a world that iowa. oh no all right stacy thanks thank you stay tuned for the second half a whole lot more. i know. tanya played it well tell me how you want my little grandson. i don't like i don't like. was being cut off. except as an ecovillage that the spiritual side is destructive. i tried to convince her to try to prove that it was a sex but it's dangerous and she had to leave it was

a story she had lost her mind. you know you she will come back i know it was and i will wait but even if it means i must wait. until my dying day. on june sixteenth one thousand forty one we had a graduation party at school and the war broke out. the shops were always full of goods we. were in september leningrad was blocked. one day mom went to europe saw that all the shelves were empty. in the ember they bombed the ski warehouses it was the main storage place

for all the food in the city people eating the earth because it had small traces of sugar in it i tried to eat it as well but i couldn't. the third night it was incredibly heavy bombing. it was a direct hit on the very shelter and everyone was buried underneath. all of them were dead. welcome back to the kaiser report imax keyser time now to turn to sandeep jaitley of the katz a research dot com sandeep welcome back to the kaiser report thanks max big story of the past week i think is the fact that china officials have announced that

they've gone from one point one thousand tonnes officially of gold reserves something like two point seven thousand tons it's a huge jump biggest jump we've seen in decades for any sovereign what your initial thoughts miners who thought so of the it's a good thing or this leak for them to be doing. i don't know what ends they have with the gold accumulation of the following sort of sensible leads for the people to telecast isn't it because that's a lot of gold we know that it's much more than the annual production of gold and we know in fact that it's more gold that was even on the open market to be sold by various institutions even the i.m.f. except when he had it all up they somehow managed to get more gold then there was available for purchase therefore there is only one conclusion states like the united states are selling china their gold a lot of people have speculated that america is selling china its gold now we have

proof also we also hear from sources that they are actually sitting right now on five to six thousand tons and their goal is to get to eight to ten thousand tons and therefore be in control of the biggest cash hoard or gold hoard in the world so why is america selling china its gold it is that the stupidest frick and thing they could ever possibly do. is not like they have a choice in the matter you know you have to maintain assuming that they also go and if they also adding them the gold. it's that they don't have any choice you have to maintain the exchange in gold. if someone wants to exchange dollars for gold then you have to get the go america's economy is so wobbly. infested with accounting fraud and debt what worse what you know what i hear you saying here a little bit is that they're trying to cover some of their bad debts just like at

it again or you know is in over his head has to sell the gold watch at the pawn shop so merican is going to the chinese pawn shop and selling its gold so that china doesn't foreclose on americans were saying something like that but not only china it's the it's everybody that's buying gold is basically calling for closure on america so the indian people are behaving like the chinese government you know so everyone who behaves in that way is calling for closure basically you know paul krugman of the new york times recently said that the dollar is good because it's backed by men with guns did he yes he didn't suggest that there was any economic soundness to the american economy that there was any intrinsic value to the u.s. dollar but as many around the world have come to understand if they don't take the u.s. dollar the u.s. army will come and kill them they found a sound iraq they found libya they find this out all over the world if i don't economist is saying that this is this is a just reason to hope that well i don't know what will schools he went to the

american school and the american school of the school of the americas it's a school that teaches people how to be cia agents to go out to various countries other around the world and whack folks aren't so let's get into your kind of your day to day specialty a little bit over there with a cat folks now you tweeted that gold doesn't have a spread under true free market action and that all goods are spread against gold all right so getting into the nitty gritty of the day to day of the gold world speak on this a bit yeah basically you have to go back to gary and. cept of markets ability or a minor calming grounder of the austrian school founder of the austrian school and . take that concept of the most marketable goods the object to that occupies not concept is gold now most marketable means just that you know you can take it to

any market and it will have an exchange for it no matter where the market is no matter what people you're dealing with no matter what period of time you are not time travelers but you get what i mean and going forward as well it will still be a valid medium the supreme medium of exchange nobody says no to gold nobody said i work in the world and i can get something for gold and nobody says no nobody will ever say no to go as long as there are humans on the planet that's just a theory of mine i can't prove it seems like there's a good there's a good correlation sort of was let's talk about the fact now that there's a german regular regulatory authority this week you said that the price of gold being manipulated with unimpeachably unequivocal a there's proof and it's a bigger scandal than lie bore they say it of course the four x. mark it's being manipulated the energy markets being manipulated it's all being manipulated so where is gold fit in a world where every single prices raked every single market is is rife with naked

short sales and counterfeiting so isn't that a reason maybe to shy away from gold as people suggest because they're saying why should i even bother it's such a rig market i'm just going to go down the shop buy a six pack of beer are some twinkies and gorge myself to death is understandable especially off the watching its price performance even though that's not the price but you hit the nail on the head mike's when everything else is going mad that's the only thing that will remain sane and you will not be able to exchange the same things for insane things so if you don't have gold at that juncture whether it's in one year two years or for. my view is. you realize the difference between having gold and not having go you might be able to get all of these all the rubbish goods like you know five thousand dollars sweaters a wall not but you will not be able to get go for a dollar there's another big story this way you are just a follow up to

a story we've done on our show i think where the first international broadcaster cover the fact that america had sold off german gold way before germany recently asked for their gold back because again they've been. doing and lending out gold to the point now where or just outright selling it to china their market doesn't really have any gold in fort knox anymore but germany is now saying this gold market is it is completely manipulated they were trying to repatriate their goal and america said we can only do maybe thirty or forty tons out of the i think it was seven hundred or something and yeah on this magnitude i one point is germany say well we're we want our gold i mean they have at some point they're going to start being more demonstrative about this they will. surprise that it's not the more vocal about it may be professor effect that this says that they're not

free agents from the walls you know so they have to behave in a certain way i imagine there's an element of truth to that but eventually forget about the german state the german people will have had enough you know that's when things will get interesting if you say you want you'll go back now and you're buying good turns around and says you can have it back in seven years that would be grounds to declare coleman for bankruptcy it's a seven year seven day yeah so think about it and i question about was on wall street as they give me three thousand i.b.m. they say ok you're done you'll get the conference seven years yeah it's not. as long as the market as it know to this your data they've identified some threats to the system one number one is fiscal irresponsibility that isn't the fiscal irresponsibility the product of the very people at davos who are central bankers who are committing massive monetary irresponsibility to begin with isn't this the

pot calling the kettle black absolutely absolutely and these guys they want to make it look like they're trying by saying you know deficits and you know we have to come and and blah blah blah i'm more of the philosophy that you should carry on spending the fee you know walls people still value it's an exchange you know there's no point in trying to contrive a value on something that will be ultimately value you know so all of this political sure that we have benefits and all of this nonsense immigration or comes born from this basically there have been hundreds of feet of currencies over the past hundred years and the average lifespan is something like twenty seven years and they every single one as all ended up achieving their ultimate value of zero yes with the exception i think the british pound is one of the the longer running fee but of course they created the bank of england and it's

a constitutional monarchy and it's a place with very little you know what would one call civil rights but look looking at this on a global basis over there at the i.m.f. christine christine legarde was just saying this week that we need to protect ourselves against the deflationary ogres ok once again accu in paul krugman says there's deflation we need to print christine legarde assange oh the deflationary ogre's we need to print the e.c.b. there's deflation we need to print mark carney well there's not sure about inflation but got to be careful about deflation we've got to print doesn't doesn't printing money. to feed the zombie banks in fact is that the number one. deflation it will it will exacerbate things much more than the thinking from that perspective because they're basically the way they're doing it is by buying exchanging cash for bombs so instead of the set of bankers that used to make money

being the bankers of the government by basically giving a home for the government paper and now the state is basically saying to the people look we'll make you wealthy if you just hold on to government bonds interest rates will go to zero you'll have these huge profits and you know you'll you'll make a fortune like all of the bankers i was given example just b.c. just announce that they've got a seventy billion pound black hole of debt. so seventy billion dollars of the bets that they've made are worthless they'd carry them on their books at one hundred cents on the dollar but now they're saying now at the actually word zero cents the dollar so they'll go to the bank of england mark arnie and they'll mark carney will take seventy billion worth of worthless junk that's valued zero and he'll give them seventy billion dollars worth of gilts of. english treasury buys british treasury bonds yeah and they'll do that swap and they'll call that quantitative easing and they'll call that a monetary policy of some type and h.s.b.c.

will declare themselves a solvent but number one h.s.b.c. is insolvent by any accounting measure they're insolvent yeah be quantitative easing as you just described is a massive fraud yeah and see at what point do you close a bank like a just b.c. they load your money for hezbollah they launder money for mexican drug cartels they've got a seventy billion dollars black hole of debt they're insolvent but the government keep printing money and that's causing the deflation it's crowding out real investment they're supporting a bankrupt institution your thoughts. you're right it's not singling out h.s.b.c. per se but the whole system you know. there's no there's no question the this is all this is all a it's a surat but is there any assurance to the people who are where i honestly think i

innocently ignorance you know the not not maliciously sort of evil people is that the basis of a firing squad that if you know what about each one of them in the firing squad doesn't have the bullet and they all walk away thinking oh that was me i'm innocent but yet they're all guilty you know so the accounting for a k p m g that h.s.b.c. did they have the bullet they don't know even though they're in accounting for they don't know what who they killed but they know if they know how much they paid for lunch and they're going to get a write off against the government but how many banks they kill this morning i don't know my nominee counted what i know all right we've got about ten seconds left actually running out of time. so we don't have any time but i take it that europe still bullish on gold absolutely absolutely so will move lower the price goes the more the more you should be i think the american say stocking. stack to keep stock in the. all right sanjay thanks so much for being once again on the kaiser report folks max and that's it for this edition of the kaiser report with me

max catherine stacy herbert i'd like to thank our guests sandeep jaitley of research dot com if you'd like to get in touch tweet us at kaiser report intellects timed by you know. so we leave the. oceans to the. physical. issues that no one is there with to get that you deserve answers from. politics.

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doctors of the docs. to. protest their own revolutionary kangaroo court self the two nights of protest leave the center of ukraine's capital devastated and many of those in hospital. so european opposition has violence in its d.n.a. the kiev protests are slipping the control of the moderate opposition as far right movements and extremists move in. syria's opposition decides it will attend peace talks after the un retracts an invitation to iran just a day before the geneva summit starts a move moscow has called a mistake. and russian diplomats urged those attending the peace talks to focus on the terrorism plaguing syria amid reports of al qaeda training camps across the country our top stories this hour.