vampire squids true nature investor may be able to understand the secrets of the fibonacci analysis but he or she will never understand the truth about goldman sachs tentacles of fraud and deception never never never stacey. max kaiser matt taibbi is out with another piece and features prominently goldman sachs and this is the headline the vampire squid strikes again the mega banks most devious scam yet banks are no longer just financing heavy industry they are actually buying it up and inventing bigger bolder and scarier scams than ever now this is the fallout from the financial services modernization act of one nine hundred ninety nine also known as the graham least bliley act now that overturned glass steagall of course but it also legalized new forms of monopoly allowing banks to merge with heavy industry a tiny provision in the bill also permitted commercial banks to delve into any activity that is quote complimentary to

a financial activity now at the time that this was pushed it was first pushed by j.p. morgan and they said in congressional testimony they compared this complimentary financial activity to something like american express which which publishes the travel and leisure magazine it would just be something like that just complementing each other well we're saying this relationship between banks and heavy industry for a while in the oil industry so the oil industry which is capital intensive they borrow lots and lots of money and to the point where the u.s. dollar for example is collateralized by oil you know story in one nine hundred seventy s. when the u.s. went off the gold standard they went on the petro dollar you see that the dollar the u.s. dollar is now backed by oil that's emerging really of heavy industry and currency manipulation and wall street debt creation but what does goldman sachs met pieces talking about is really the financialization of every single aspect of all industry

into nothing more than a way for banks to crank out more every complicated financial widgets that are meant to destroy the economy the host in which this parasite lives or goldman sachs the parasite. as been given more leeway to burrow ever deeper into the host being the u.s. in the global economy and no one has stood up to the parasite well the banks in particular benefited most from this are goldman sachs morgan stanley and j.p. morgan chase and he says regarding the oil industry for example this is just how deep the tentacles go but banks aren't just buying stuff they're buying whole industrial processes they're buying oil that's still in the ground the tankers that move it across the sea the refineries that turn it into fuel and the pipelines that bring it to your home then just for kicks they're also betting on the timing and efficiency of these same industrial processes in the financial markets buying and selling oil stocks on the stock exchange or oil futures on the futures market swaps

on the swaps market except or so there's a whole sale merger of banks and heavy industry they control the entire process much like oh we saw that back in the fifty's sixty's and seventy's didn't we with communism also control the entire process right i mean you do it as a command and control state run corrupt fascist dictatorship for stuff i mean if that's a given but what it does to the economy as a whole and the ecology as a whole remember that ultimately the collateral for the global economy is the ecology oil being a finite resource goldman sachs and others have figured out a way to sell forward one hundred years two hundred years three hundred years worth of oil of energy resources bring all that income into the present put it into their pockets and then sit back while you have a credit collapse of

a peak oil situation emerge and you have this massive inequality that has resulted from one bank working with others to bring into the present hundreds of years worth of income that would have been used to keep generation. of americans and people around the world a lot so they're basically stealing not only from everyone around the world today but they figured out a way to steal from billions of people in the future well so because these guys control everything from the swaps market betting on the future outcome of oil production but they also control the production they they always win so for example they talk about arbitraging the can tango now remember back in two thousand and nine in the days of the financial crisis remember we talked about content co and this oil can tango well the futures market was pricing oil much higher than it was today now what happened there it was because one of the participants in this was

koch industries and they had bought up cheap oil put it onto tankers i control the supply made it seem scarce and were they were also controlling the futures market and selling it for much more in the future but driving up the price of oil they say it was up to twenty eight to thirty percent more because of this arbitrage when they can tango right well this is where let's say lloyd blankfein to runs goldman sachs it should not be lauded as a good businessman or a financial wizard in some way because as you're pointing out here using these financial products and financial futures markets they have eliminated all risk of stealing money from the future so stealing money from the present stealing money from the future and abusing markets to make the risk of stealing this money zero at least with somebody who is breaking into your home stealing all of your jewelry and running away there is a risk that they might get caught they might get beat up they might go to jail but when goldman sachs run you know breaks into your home steals all of your goods and

services and capital essentially using all of his financial futures products and then runs away without taking any risk and then your kids end up having nothing to eat they starve to death talk about kristallnacht tom perkins thought the lawyer. fine about is crystal muck on your people ok that's the guy should be talking to the no risk capitalism which of course is not capitalism at all it's just left so these banks have taken control of the entire industrial process now even the architect of this legislation jim leach who's now a professor and he was a republican congress person at the time of the financial services and banking committee he's shocked he says that they're doing this that he didn't know that's what complimentary financial activities meant he thought it was just like these magazines that merican express has released but also in two thousand and twelve the new york fed also released a paper saying that they don't really know what it means and it's quite ambiguous what that means but there's another clause inside that one thousand nine hundred

ninety nine financial services modernization act and that is that any company that became a bank holding company after the passage of graham lease bliley in one thousand nine hundred nine could engage or control shares of a company engaged in commodities trading but only if it was already doing so before a seemingly arbitrary date in one thousand nine hundred seven so if you became a bank holding company after one thousand nine hundred nine nobody understood why this phrase was in there what this clause even meant until lo and behold the two thousand and eight financial crisis goldman sachs became a bank holding company overnight so did morgan stanley and lo and behold they could start buying up the entire industrial processes yeah i mean you've got jamie dimon and lloyd blankfein committing engaging in. colluding in a scheme that is bankrupting the economy and

creating multiple generations of disenfranchised angry citizens while the rights of the citizens are being stripped to pay for this fraud so what do you do about this i mean how do you react i noticed for example there's no connection from what i understand but up to twenty bankers have recently been found dead that that's a fact we've got the four or five known examples of banker suicides and we've got reports now that up to twenty bankers have been found dead so either way these are bankers who were going to blow the whistle on lloyd blankfein and had him taken out or these are bankers who have committed suicide because of the shame of being associated with lloyd blankfein imagineer associate lloyd blankfein and you know that your boss is committing a financial hole of cost would you not be tempted to kill yourself is this not

behind the rash of banker suicides around america and around the world i think that's the cause so let's go back to the story because he mentions that for example we're still far behind even trying to chase the fraud that previously happened earlier frauds from the mortgage backed securities fraud and now there's a library for extracting fraud we this is that these are all these new frauds coming up so he mentions the the arbitrage and the content going on well then he mentions the aluminum or alimony i'm as they call in the u.k. where goldman sachs control the detroit aluminum something like seventy percent of the market all went through there but what they were doing was swapping it back and forth between warehouses raising the rents and charging a huge amount more for this aluminum now there's a class action suit going on against goldman sachs for their role in the aluminum rigging by the way they're they're all getting out of the markets now that they've already you know the frogs are catching up to them and they've already defrauded the entire market by garrett watkins and arizona base class action attorney who is suing goldman sachs and others over the limit in case on behalf of two major manufacturers puts it this way it's like that line in the dark knight rises he says

the storm. already here so what was that whole dark knight rises by them about they were demonizing occupy wall street as that as if they would wanted to bring anarchy and chaos and yet what he's rightly pointing out here is this manipulation of the the entire industrial process the entire industrial process from beginning to end is raising prices causing chaos and causing they're the ones causing the chaos and anarchy that the film industry imagined that the normal people are causing so this is a clear case of fascism which is a clear case of of a small group of people committing. fraud on an industrial scale. and as a result you've got. wide scale poverty disease ecological disaster. what what is the what is the solution because we were told after war world war two

remember never again was the catch phrase after world war two never again would we see a whole of cost like world war two and yet we're seeing it again so why aren't the people being more proactively trying to stop it why aren't the folks who were the victims last time saying you know what we don't want this again you know brings it puts into the to cut checks to the whole past seventy or eighty years of who's doing what to whom for what and for how much now also the point here is that you know the financial collapse happened and because of that goldman sachs became a bank holding company and because of the cheap zero percent interest rates they could buy up all these commodity warehouses they also point out that the elem either lead to metals exchange is also being bought up by goldman sachs j.p. morgan and glencore and trafficker which were both marc rich firms remember that famous market manipulator who went on the run and bill clinton also you know who

oversaw the graham least bliley act he pardoned him so they control the london metals exchange with zinc copper aluminum the same thing is happening there he's talked about the merry go round there you're seeing signs of merry go round because you see over and over the council of the warrant which is showing that there's a rise in manipulation basically it could be a sign of that. of other great article you know really covering the this ongoing scourge of terrorism and does a good job anyway we've got to go stacey thank so much alaskan tango in london. indeed know better for you stay tuned for the second half all the more. if it was terrible

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welcome back to the kaiser report imax keyser time editor to jenny jones a green party member of the london assembly jenny welcome to the kaiser report thank you it's a long way to come. fantastic so i'm holding up this copy of the banker's mayor report that you've put together so tell us about it. well it's very frustrating for somebody who is you know has a philosophy about how things should be run and society generally should protect the vulnerable to find men like boris johnson who is acting. so often entirely

for the bankers here in london and admittedly they are an important savage that ten percent of the what something like that at the same time they are not doing that for london and boris johnson seems to swallow everything they say without any sort of doubt or hesitation and that is very annoying now mayor boris johnson claimed in a press release that it's funds in the city of london contribute three billion pounds a year in tax. of course at the same time we've learned about all the scandals of libel or forex p.p.i. the gold fixing scandal. and all of these other you know crime spree that's gone on so how do you balance how to see a balance of what you think about this idea while they are committing fraud daily h.s.b.c.'s laundering money for mexican drug cartels but we need the tax revenue your thoughts well i think if we were better collecting tax we would be quite so dependent on the financial sector that as you say is already cheating us now steer the bonuses not just not the pay but the bonuses of two hundred thousand city

people could have brought every single person in london who can't in public to pay up to the london living wage said two hundred thousand people. could actually have . ainge things the three quarter million people actually meant that they could contribute to the economy be out of poverty pay tax themselves say there are other ways of looking at this and banking to me doesn't seem to working to london well it's interesting to that of this argument that the hedge funds and the banking pr professionals bring in tax revenue is but yet the national debt of britain keeps going higher and higher and higher and the reason it goes higher is because the government makes it very easy for this financial fraud to take place which needs a lot of debt creation so the country is burdened with a huge amount of debt that keeps going higher too in exchange for amount of tax revenue that is not covering the debt so it's just simple masters tell boris

johnson that is his basic premise is flawed on a very basic level the debts going higher correct well chris not in his a professor of economics at the university of bath says that we should be asking ourselves what sort of banking sector we actually want for the u.k. what will actually benefit the economy and society the most and he says it's one where saving should be channeled into things that it desirable probably not into on ments noshing to oil revenue into things that actually help majority of people and as you say the debts going up but at the same time we're not collecting enough tax from people who are who are it's not just tax avoidance which they're very clever at it's also tax evasion what's also underlying economic model that generates more liabilities then assets in other words he's there digging a hole in this country with it by allowing the banking sector free rein to commit fraud that holds called debt and as set of saying stop stop digging boris johnson

saying dig deeper we want to be in debt more he's increasing he's exacerbating the debt problem by giving the city scam stirrers free rein so why. i you know how does that jive with this idea of austerity because of course the coalition government as a country on a program of austerity then magically when the flood said david cameron says we're going to throw a lot of money at it something there's an unlimited pile of money is it financial literacy one of the big problems in this coalition government well i think it's partly the fact that conservatives understand that they think they understand money better than other places will parties but actually what i would say is they understand the price of things that don't understand the value who is advising the mayor. and that is very difficult to say i think probably he he hears from a variety of people who or have the same ideas and it's obvious that from mark put

it was obvious that he swallows the actual sexes lines that press releases and time that question he's not actually listening to academics he's not listening to people who might give him some better ideas i mean for example mark porter i say there are three things that the banking sector should do immediately in the first is of course separate the retail from the casino side the investment side the second thing is that there should be a tobin tax a financial transactions tax because it's one of the ways that we can actually benefit society again and and the setting of course is that banks should keep more of their assets i mean something like ten percent so that they are not too big to fail well here the mayor's office and we're in a new development called more london which has been some part of the regeneration urban regeneration here in london and walking around the streets here you see

a big signs for p.m.g. ersten young delight two. there's another one of the big four there's a day's boats that go up and down the thames a big huge cape p.m.g. logo on them. these four big accounting firms and. sultans been known to be engaging in massive problematic schemes of arthur andersen and enron for example going back and none of them have really just like the banks have not gotten stopped their behavior of larceny these big four accounting firms have not stopped their larceny either their fraudulent behavior and aren't they vising the mayor isn't there a simple symbiotic relationship between the mayor's larcenous dick tendencies and these big former big four accounting firms need to let that happen it's really good talking to you because you're language isn't even stronger than my language when you talk about lawlessness on and you're next but you were actually found actually

checked and i happen to i'm somebody who just sits there and watches boris more closely and i don't know who has meetings and it's an interesting question because i can't osc who he has meetings late but i would say probably he doesn't even need to have them because he is so he is so trusting he thinks that the banking sector the financial sector really really benefits london and he can't see any problems with it so they might not even need to talk to him you know they might just sit back and just let him run with with what he's doing already throughout the proximity of these firms and the mayor speaks volumes and if you look do any research in terms of the mayor of london it's not different than mayors of other countries and other states who are engaged in a similar kind of symbiotic relationship that somehow ends up channeling money to a few at the expense of the many and i think that that needs to be looked into a little bit deeper now you hosted a roundtable for the top three suggested reforms you talked about those those top

reforms are any of those three that you mentioned gaining any traction at all as a tobin tax the increase of reserves for banks and the third one what's right the two separate the glass the separate the casino bank from the savings. are any of those reforms getting any traction at all well said he not with america's farzana in fact he has lobbied the european commission on three occasions the first one is on air quality which is fair enough but the other two times have both been on behalf of the financial sector and once was against the tobin tax he cannot see why that's that's so important to britain so no i would say no these ideas is getting traction actual ok let's broaden our discussion a little bit because all of these problems that you mention are field by cheap money. artificially low interest rates some would argue the zero interest rate policies and in this country have got the monetary policy committee bank of england mark carney over there it's bank of england and they are they the vortex of the

cheap money would it make sense for the green party to say look we want representation on the mount terry policy committee we want our say because in order to weed out the parasites you've got to make the environment it hospitable to parasites and that means raising interest rates even though the home owners are going to block if you want to get rid of the parasites in the criminals in the city you've got to raise interest rates where were you on this idea well first of all this is way out of my depth take a because and this is this is something the green party does have policy on but of you i think generally is that you don't have to have a green that necessarily you have to or are you talking to green party necessarily but you need somebody there who understands west a about climate change and secondly about how society can sort of work when it's a movie qusai heap is clearly the more unequal society the less happy everybody is

it isn't just the poor people who aren't happy to return happier as well and we see that when you look at scandinavian countries that are that are more freds risk the social unrest and it isn't right to be rich but if you're being you know you are heads on a pike somewhere by the tower of london it's maybe not so great to be rich and that's the risk that they're taking and shortly when inequality gets to these extremes you have revolutions i mean in this country russell brand ok is calling for a revolution yes articulated it yet i mean it's a notable event because it stream lee well known figure he's internationally well now he goes on mainstream media calling for a revolution. what you know your what are your thoughts well he also called on people not to fail which i think is in the business stupid thing to say if you don't vote your voice isn't head it's all very well being out on protests and so on . i still go on protests even though i'm elected politician but the fact is if you don't have elected people they're speaking for you then you have no voice and politics is all about where the money goes it's who says who gets what and you have

to be involved in politics politics is part of everything i would say on boris generally he is i think a lost cause now and we just have to wait for another man to come along who a understands about a more equal society and b. who understands that climate change is happening and we have to mitigate and we have to adapt and that's something that he hasn't grasped which intensity of ensuring that you mentioned climate change is green party obviously environmentally focused is there anyone on the conservative side the tory side that is you could reach out to me in the name of comes to my exact ultimate who was the editor of the ecologist magazine who is outspoken on these issues he is a tory yes but he seems to get it doesn't make his or ben any coalition between greens and some tories what's going on it's it's not easy to have

a coalition between political parties unless it's really organized just like the coalition government that we've got but secondly of course there are conservatives who who think like this i mean the conserve part conservatives actually do care about an action virus them to stop that things are changing and if and you know some of them are probably farmers they they see on a daily basis that climate change is happening. and i as a green i know that it's very hard to get my agenda across if i don't look for support sign a very co-operative green and i work with i even work with while i work who with all the political parties if it's if it's party prejudice jones i would love to speak with you some more but we have to go out of time thanks for being on the kaiser report. ok that's going to do it for this edition of the kaiser report with me max kaiser and stacey herbert i'd like to thank our guests jenny jones. green party member of the london assembly and author of this tacit report the banker's mayor if you'd like to get in touch with us tweet us a kaiser report until next time by.

the journos have the specific tendency of seeking out negative stories about russia and what could be more negative than the possibility of a major terror attack when it comes to western media there is a tendency to look at the caucasus emirate for through the prism of what the russians do that is don't look at the idiology don't look at the actions of the caucasus emirate would you have named instead look at the way the russians on occasion violate the political civil and human rights in combat in the job is.

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more than a dozen people have reportedly been killed in the ukrainian capital today as all protesters break a truce will be all sorts used by our time king riot police all seize cruel score in sniper fire in a hotel at the very epicenter of the violence. all over the field. if you. look. accidents result to cool to steal weapons and take prisoners as the crisis starts to resemble a war authorities say they could no into a full counterterrorism response. barely. making. dealing with peaceful protesters in the fold.