the shining city on a you know that's been stone. well china's wealthiest citizens are fleeing to us amid corruption crackdown is the headline amid a widening crackdown on corruption china's wealthiest citizens are increasingly seeking a better life abroad the united states is their favored destination so if they have a million dollars they can get a green card in two thousand and ten there were seven hundred seventy two chinese who received these green cards that increased by eight fold by two thousand and twelve to six thousand one hundred twenty four friends or corruption crackdown is rising in china so the chinese while the chinese are the jamie diamonds of their country are fleeing to america because they know that america provide safe haven for a corrupt banking larcenous to. thieving. no good mix and yes now part of the reason is they're also leaving because of the pollution that we have exported their american corporations export of the pollution

there where there's so much pollution you can't even see it kind of looks like london with the fog they're all moving to rush limbaugh's house so ruslan both being now surrounded by chinese people escaping the pollution that he's so eloquently defended i'm trying these companies are the right to do behalf of profiteers in america the crackdown will go into that here over the last year chairman jim pang has overseen investigations into some of china's wealthiest most powerful party figures including those who have profited massively from the state owned oil industry he has vowed to take down both tigers which are the top bosses and flies which are local officials so in january he stepped up his campaign to for bidding the promotion for example of officials who have spouses or children living overseas these are called naked officials and they're denied promotion because they tend to be the most corrupt they found well these are the chinese equivalent to anchor babies so. the chinese officials who are wealthy they they have their anchor

babies that they set up at harvard or yale some other ivy league school in mexico and other countries of course they claim to have these anchor babies in the united states as a way to acquire green cards china has their own anchor baby system but it's about putting their sons and daughters into the classrooms of ivy league schools but it's also shows you for sure that america is this empire because they crack down in switzerland they chase their if fanatically and overthrow their governments and their constitutions and their laws if and one single american has an account over there but they welcome everybody else who is willing to loot from their own nation and take it back into the united states absolutely right the u.s. financial authorities are out there in places like switzerland cracking down on folks who are just trying to escape kind of the miasma of fraud in the united states simultaneously want them fraudsters from other countries to take up

residency in the united states well it also shows what paul krugman said is that the u.s. dollar is backed by men with guns here that the entire system is back with men with guns who protect the you know the people who are able to loot and by the way you know the housing market here if china is indeed going to crack down on people stealing and looting that from their nation these you know this is how they longer their money through the properties here that we always point to behind us. johnson runs a laundromat it's called the city of london and he welcomes chinese hot money or money that's been stolen to be laundered in london that's his job. i don't know there's must be a name for it worries you know a poor plan or something that is basically a laundromat service for chinese kleptocrats naked pork done in the forefront of course johnson so now here they're coming to a place where there is no crackdown on corruption and we're going to look at a few headlines here. now says lawsuits over for x.

market face uncertain future so we know that the key benchmark rate is the foreign exchange rate at issue in lawsuits is known as the w m reuters fix which is set at four pm london time it is based on actual trades in order rates recorded primarily by reuters during a one minute fix period w. am a unit of state street corporation then calculates the benchmark using the median of the reported trades so contracts around the world are based on this london fix here on these four x. rays and they've been shown to be rigged well the u.s. regulators are going to find these banks they're going to get their piece of the cake now at the private entities including pension funds are have filed eight lawsuits against the biggest of these banks including deutsche bank city group barclays u.b.s. h.s.b.c. j.p. morgan royal bank of scotland but it looks like they're analysis is saying that they're not going to get anything because you have they're suing them on the anti sherman trust antitrust act and you have to prove that this was

a competitive market and because it's a fixed market and rigged then they they're not going to win their lawsuits they reckon. in other you know semantical argument against free markets and these indexes like the way to describe for forex where you have your daily rigging here in london it's kind of like you've got the panama canal of the suez canal you know you own the rights to the path toward getting a free trade off getting a trade done and you are a gala doing so actually that's what this rating scandal is all about it's about index providers and fixers and riggers gouging customers so the costs of doing business keeps going up financialization was billed as a way to bring costs down but if you don't have any competition and you have good keepers like here in london who control for extra libel or energy or gold and silver they just jack the price up yet so they use as an example as well the library going well those private lawsuits were. just in manhattan and the reason

why without anti-competitive conduct there could be no anti-competitive injury said the judge who is based in the southern district of new york with jurisdiction over new york city's major financial centers so again the headlines will read that something has been done because they'll pay a small fine to the u.s. regulators who will use it to download more porn who knows that the f.c.c. but nothing was actually be done there will be no the people who are actually damaged by the fraud there will be no recompense for them now that is a financial flag of convenience you know people understand the flag of convenience concept if you have a tanker of oil and you registered on three different countries simultaneously if it blows up and spills oil then nobody claims responsibility same thing with the financial business that all of these financial trades are going through indexes going through mechanisms that nobody really claims ownership to nobody really has jurisdiction on any of these areas where these trades are being done if they go through they're happy to take the profit but if they're caught rigging then oh my

god nobody actually owns the exchange nobody else out and it's a flag of convenience week take no responsibility and they let the economy begin to collapse to the point where there is a crisis it's an extortion racket and then they'll come in and say well we'll be happy to bail you out of the crisis that we caused arsonists showing up at the scene of the crime you know explaining how to put out the fire that they themselves created so these financial firms are financial arsonists and they're ready to profit both on the financial arson and on advising the government how to put out the financial arson until they start the next fire so let's look at why all these potentially allegedly corrupt officials in china might be fleeing to the u.s. and the u.k. they also mention that a lot of coming to the united kingdom well so i mention the libel rate getting here are some headline about that because not only did the government regulators and the government's right to safe haven but the media also paints a halo around you literally fines for rate rigging citibank's will be used to how.

fund veterans' charities now look at the photo you see that with this article barclay's looking heavenly and this photo because barclays the st louis sort of giving people to charity while the forty million pounds in fines that they're paying for rigging libel rates that's going to provide some money to veterans charities to help them provide update their housing and give to veterans homeless veterans so here you have we don't know for real because there will never be a open investigation into life or how many trillions might have been stolen or hundreds of billions but they're going to get forty million pounds to some veterans charity and be painted on the front page of the newspaper looking saintly barkley is just turning a page out of nicky barnes playbook barnes was a famous heroin dealer in harlem who controlled a big part of the trade and every sex giving he would give the people who he had strung out on heroin who were dying in the street collapse ago the street from heroin overdoses you get free turkey so the word on the street was

a nicky barnes is our savior similar with barclays they're corrupting the system they're committing fraud on a daily basis they're committing vast arrays of illegal activities jacksons. but every once in a while they give the throw somebody a free nickel the three pounds or something and say aren't we magnanimous you know like john d. rockefeller used to give out dimes on the street to little kids for the propaganda potential of there's john d. rockefeller billionaire giving away dimes to little street urchins isn't he magnanimous of barclays understands propaganda there propagandist to cover their fraud propaganda to cover their fraud well it's a corrupt system it doesn't matter it could be any single bank any single corporation because when a look at this next headline here it's also big major corporations who give to the bankers who give to the politicians who give to the regulators so that they'll never be in trouble so this is what these rich chinese have to look forward to

because there's a crackdown on their own country in this sort of behavior hospital chain said to scheme to inflate bills so there's a hospital chain him a in america the second largest and apparently they've been defrauded defrauding the government medicare medicaid and basically admitting patients who didn't need to be admitted but because they were on government subsidized health care medicare medicaid they put the men in charge of government well what's more they're being investigated by the department of justice but wall street didn't react their shares didn't do anything well when h m a an ounce the justice department involvement in the lawsuits investors and analysts shrugged and the stocks for both companies involved in the merger barely budged shell are skolnick who follows health care for c.r.t. capital recently wrote in a note to investors quote investors seem to think that d.o.j. investigations suits and allegations of serious medicare fraud are simply a cost of doing business many settlements run only into the tens of millions that's

a corporate slap on the wrist for companies who stocks typically soar when executives push the profit on the lope only if the penalty is at least five hundred million dollars she said are corporations likely to find cost. that reservation may is open they committing fraud and the shareholders don't really think that's going to impact the price the stock because the department of justice doesn't meet out any kind of fine that would represent a deterrent in any way so they continue to commit fraud and then if they're like barclays on thanksgiving give away free turkeys like heroin dealer and for the propaganda value so fraud has become the de facto business model of the health industry in america of course americans suffer they don't get good health care so millions are dying but again that's not considered a downside risk death is not considered a downside risk in america if you have a h.m.a.s. committing health genocide barack obama will smile and say i love you or whatever

mean he's a crook all right well we're out of time see you they love us for our freedom to defraud the. safety of us like to have a lot more. the european union likes to think of itself as one of the brighter and fairer parts of the world the european commission report on corruption the first of its kind for trees a very different picture in every single member country there is corruption in some cases on a massive scale so what can the e.u. teach the world how corruption. or london.

the whole world is on the. sea to you of the original one the one in the end there are further to hang up the courts up. the city the city. people. here is an ice breaker.

welcome back to the kaiser report imax keyser time now to turn to lynda carter of stop g c i p tell us a little bit about. what is it what is sense for the u.s. in transatlantic trade and investment partnership so a free trade agreement between the u.s. and the e.u. but not really about trying to trade to feel good word that corporations can hide behind and ok let me just stop you right there for

a second some other words it sounds like another one of these deals like t t we've heard about right that's another deal very similar to other side of the world and sure to get on your point for a second it sounds so nice and trey that talk about trade but when you dig down into it isn't as some not so great things talk a little bit about that well with a tip or actually coming around to corporations pretty much writing law and then suing governments if the defense nor that they don't like that's how far it's getting now this seems incredible to me in other words the example i've heard is that in the u.k. for example you have fracking going on and these are some of these companies are coming from outside the u.k. and they're involved in fracking and if in fact they cause a lot of problems or cause a lot of viral mental problems and they can go and sue the government for the duress of being accused of having created problems and then they can get the

government to pay penalties to the company and to raise money to pay those penalties by taxing people in the u.k. right so they give the these outside corporations the corporations a powers that are above the the country itself is and i correct yes it is in fact. you're talking about the investor state dispute settlement aspect of. but in fact all free trade agreements tiresome to they tie us into permanent near liberalism that's the idea of free trade agreements and so go our international trade or which is above national law which is above e.u. law and then. that's a form of law that is only judged on free trade values so that's what we get tied permanently into with free trade agreements generally so it it has all the usual inclusions of free trade agreements like. tax tariff reductions liberalization of

services to give service investors rights the big public procurement grab strengthened intellectual property rights for corporations so that's all the stuff that usually in free trade agreements about the tate it's much more it has as you say i s.t.s. investor state dispute settlement but the real main part of it is regulator a harmonize i shouldn which is. bringing together the home another regulation of the e.u. and the u.s. so that they have the same but when you consider this is a corporate agenda so it's corporations transnational corporations pushing this and particularly financial services like the city of london corporation pushing this agenda you can say that what they call trade irritants regulations are going to come down trading heritance that's the term they use in any kind of gets in the way of them making some of these profits you know it seems that the problems of the

last few years particularly in the banking sector is that there's very little accountability and yet and also we've got us that there seems to be almost a two tier justice system evolving where corporations have rights that are not enjoyed by everyone else and they seem to be getting away with stuff that if the average person tried it they'd go to jail but these these types of deals like cheats hip and t.t.p. we're talking about almost less accountability by creating a three tier justice system not only to the corporations nationally are exempt from the rule of law but now they're giving themselves the right to be exempt from rule of law on a global basis is less accountability it's going in the opposite direction than what you'd expect given all the scandals of the past few years your thoughts are with this regulator you harmonize ation the e.u. has a lot to lose people in the e.u. have a lot to lose because our standards on on. on health and safety generally g.m.

food lots of food standards chemical safety data protection they're all higher in the in the e.u. so home and i say should means we lose a lot financial services regulation at this point in time the u.s. has high regulation so that's. pushing hard for that to be included in the trade agreement so pulling down financial service making a bill and somebody has. complaint they they go to what body to express their complaint for redress it's an it's a global institution out an international institution they don't go to the they don't go to the now it's above national law yeah so that's where the argument is that that national courts will be biased and they also apply that to the european court of justice and that will be biased to so they're not good enough so it has to go to an arbitration panel which is three trade lawyers and body importantly they say so is supranational supranational in that sense but also the fact that they judge just on free trade criteria so although what we know

everything that we expect in law of considerations of environment. and social welfare that's not that's has no place in it whatsoever it's only judged on try to reassure free trite right this idea of free trade this term free trade is anything but free trade at stuff it's not even the liberalism i mean male liberalism of going back to the history of economic liberalism or out of some method the idea of there being supply and demand is matched somehow in the marketplace that's been bent completely corrupted now because you have a few monopolists. that of completely taken over these markets and they've imposed monopoly pricing so if there was free trade for example you'd see you wouldn't see the kind of press price gouging you see in the u.k. they have for example in the u.k. there's six big energy companies and they routinely rate prices they get out prices

they collude you know for sure yeah a day now is now not only did so as a victim of price gouging in the u.k. under schemes that you're talking about here i can't even go to the u.k. government anymore to complain i have to go to a supernational global institution to complain and of course that there are no where there are more fas there there there it's a moving target and there and then we using their definitions of our free trade. so you don't have any rights to complain to these panels anyway right but even if a boat but even if i did in other words there's even less chain of responsibility it's being diluted it seems to me ok let me let me move on here so what about here in the u.k. the n.h.s. for example what impact would this have with this deal have on health care here in the in the u.k. i k i was in brussels a few years back when when i heard from the trade commission that health was the primary target for harmonizer nation right years years back even though this agreement was just formally introduced last year and with the health and social

care act that was introduced here as national legislation in the end of two thousand and twelve that hamann isolation with the us has happened here with the n.h.s. . what difference that seat it will make is that whatever however disastrous that act proves to bury that it becomes irreversible once it's in the trade agreement so the labor party for instance at the moment is running on a pre-election line of reversing or repealing the act but. this coming fast they actually want to say we need a more realistic presentation from the labor party from the opposition and what we really need is an exemption of the s. and i guess from the trade agreement obviously we'd like to stop the trade agreement but we need as a fallback position we need an exemption of the n.h.s. from the trade agreement for sure and that has to come through cameron it's almost

as if the the concept here is to benchmark your public services against the worst examples usually in corporate settings there's a side of benchmarking where you try to create benchmarks against the best examples in class but here here's the american elsom which is a scandalous catastrophe and yet. the u.k. under cameron wants to benchmark the u.k. n.h.s. against a loser same thing as fracking fracking has been proven to be an enormous disaster in the us it doesn't it's not cost effective it's an ecological disaster and it's very short lived it doesn't provide anywhere near the length of the energy resources that they claim to do and yet the u.k. wants to benchmark its fracking and create fracking against a loser against a complete catastrophe same thing with help to buy for a real estate it's modeled on the sub prime catastrophe in america so that david cameron seems to be on

a collision course with with reality in that he's constantly benchmarking policies in the u.k. against american disasters is why do you how do you explain that is it is he just he is just all these consultants are totally corrupted him or is he just incompetent government works for the city of london corporation and can i just go back but there's another aspect of and i am for this trade agreement so-called trade agreement is to set global rooms so you're talking about benchmarking but this the i and i am of this trade agreement is definitely to set benchmarks that in trade that then the rest of the world gets proved into right so a lot of people over the years have talked about you know five years ago when you when you put out a phrase like new world order it sounded very conspiratorial but here we are in the year twenty fourteen and these these need and they are weak in that egypt and

t.t.p. and i is to yes this really is a global governance here who will tell you and to be paid transatlantic and transpacific the us is the country but if you know so cameron is trading britain's sovereignty for a few bucks a few pounds this and that as a british person does that try to make a second side i think we need a lot more exposing of the role of the. city of london corporation for instance i've actually gotten into meetings where those guys around the table if they're. give the directions directly these are the guys from the banks and the insurance companies give their. directions directly to the the trade bureaucrats who then take u.k. trade policy into the e.u. so that bypasses the parliament bypasses the public completely it comes directly from the city of london. when you say city of london we're talking about the banks essentially in the big four banks which will include for example h.s.b.c.

has been recently caught essentially transnational right we're not talking about anything british here this is transnational financial services with the city of london it's there as their mechanism yeah and we know that they've been able to successfully wiggle out of any accountability for laundering mexican drug money for example or even. they have been caught recently a lot of money for as bola so cameron is benchmarking his policy against banks that are laundering money for groups that he himself considers terrorist is maybe it's just a plus city maybe he's just maybe he's just ill and in need there's needs to be some kind of intervention i guess that's what elections are for. i think it's time to wake up from thinking that but our governments our government have been acting for the people been acting for the city of london corporation all right we'll leave it

there linda kushner thanks so much for being on the kaiser report. 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 linda culture of stop to tip if you like to get in touch tweet us a kaiser report so i stop by you'll. be yours you don't know if you don't panic or not response to realize. most everyone in my life that i cared about their government and then. came to skin well. i was a national champion in track and field and also was able to go in qualify for the olympic games. you know nine hundred eighty eight i started to experiment with that

the drugs i had lost all the financial means that i. was really on the street. black card can. break up the tree. of the playing. field limbic spirit travels with the flame from its birthplace in greece. joining james brown for an elemental and epic journey around russia and beyond.

where my own. life. coaching twenty ford scene promises we call timid and exhilarating winter sports enough to join me and you see now if i make seven zero in on the bus tomorrow and hope you stay in for sochi twenty four take. on oxy.

success. the first winners in the twenty fourteen winter games the slide to the podium to claim their medals off the day one of competition. and equipment failure could have ruined the dreams of olympic gold for some german skier. already that is if their russian opponents hadn't put a rivalry aside to help them out. seeds of street violence and golfing. protesters clashed with police and said government buildings a blazing hole amid soaring unemployment economic stagnation and corruption. plus the suicide bombing reportedly carried out by a british citizen in syria and sparking fresh fears that hundreds of western volunteers.