but that's just my opinion. well known told you my language as well but i will only react to situations i have read the reports. like. no i'll leave a comment on you. to secure your car it's all your talk you know. no more. when you need a direct question the prepared for a change when you know you should be ready for a. pretty speech. down to freedom to.

war good. good oh well go back go to begin go beginning i did a free lesson there i was going to cause a report i max kaiser and windstar one saying war oh yeah what is it good for absolutely nothing oh yeah oh yeah war oh yeah what is it good for absolutely nothing say it again ya'll while edwin starr may have been big in motown he was obviously no economic genius for in the pages of the new york times this week economist blogger professor tyler cowen argues that the problem for our economies in the west is that there just isn't enough all out war these days stacey

. yes max this was the kind of tyler cowen he's a professor at george mason university sounds an awful lot like tony blair as well also in the pages of the papers here in the u.k. was calling for all out war in the middle east well the headline reads the lack of major wars may be hurting economic growth and his argument is that the perception and persistence in expectation of peace is actually harming economic growth because the world just hasn't had that much warfare lately at least not by historical standards some of the recent headlines about iraq or south sudan make our world sound like a very bloody place but today's casualties pale in light of the tens of millions of people killed in the two world wars in the first half of the twentieth century even the vietnam war had many more deaths than any recent war involving an affluent country and even gives the chart max of these death and c.c. declining declining since the fifty's peace is deflationary and they're trying to create inflation so of course that is in the interest of those who do

enjoy the inflationary wealth confiscation scam to perpetrate war this is also part of the keynesian bag of tricks that would be put forward by people like paul krugman member paul krugman suggested that it would be great if ellen showed up and declared war on earth as a way to increase inflation and increase the deficit spending so this is war is all was unfortunately the last refuge of an economic scoundrel who is unable to argue for free market capitalism and all of its. benefits they simply see war of the state these are statists they they're arguing for the state the new york times as an organ of state propaganda to propagandize war in this way is quite damaging to the population as a whole but it's not surprising on the show we've said many times that. the u.s.

foreign policy is in the us dollars backed by the pentagon is backed by war that if the stated truth there is that without war the us dollar would collapse and so senorita benefiting accruing to the u.s. policymakers would also collapse well he also makes the error of correlation equals causation just because the us economy was growing more back in the fifty's and sixty's when there were higher deaths and wars around the world doesn't mean that that was the cause of it and he does argue along the lines of what paul krugman is saying is that it focuses the mind of the population on achieving progress because you need to progress in order to defeat your enemies but i mean if you look at the middle east iraq lost a million people where where is their progress why did they progress look they should have had a booming g.d.p. by now with all their deaths they had well certainly tony blair has benefited from war and deaths and he totally destroyed iraq and he's calling for

a reinvention of iraq and i did a little back of the of elation i figured that for every dead u.k. soldier in iraq it'll add about twenty five thousand pounds to tony blair's retirement fund so families of us soldiers out there don't think you're dying for nothing he also says along these lines it may seem repugnant to find a positive side to war in this regard but a look at american history suggests we cannot dismiss the idea so easily again even though it's repugnant look what happened we had nuclear power the computer the modern aircraft the internet but that's the argument many make about hitler well he built these great autobahns right exactly the technological progress that is associated with wars have a residual impact in peacetime certainly the man landing on the moon is the result of the computer era technology coming out of world war two and you had this big.

boom and technology but i don't think it's really a correct argument to make that the state declaring war on another state is going to enhance economic activity in a way that benefits the majority of those in the economy remember this only benefits a very small percentage of warmongers and kleptocrats at the top and to see that enormous spread between the top of them out of the united kingdom now is the most. an equal society in of the g. twenty nations in the world and as for in their history the u.k. has never had a higher concentration of wealth at the top versus the bottom even during the ravages of the medieval monarch time with slaves you know serfs and lords because the lords that have that much money at the end of the day they may have had a few billion or other billion but we're talking about people now with fifty sixty seventy billion dollars access to trillions of dollars in credit and here they did have quite a lot compared to everybody else in the u.k.

and just ransacked churches and stuff and took whatever he wanted but going back two ways that we can boost the g.d.p. so here they're looking around none of the thousands and trillions of dollars thrown at the bankers has improved our g.d.p. so i want to look at another opportunity for boosting our g.d.p. and that's to look at wal-mart because as wal-mart goes so goes america former managers allege pervasive inventory fraud at wal-mart how deep does the rot go apparently there's a lot of what they call shrinkage happening at wal-mart stores it happens at shops across america but the shrinkage is a fancy word for theft ok so it's employee theft and customer theft and they focus on one shop for example in north carolina just one store and it has over two million dollars a year in shrinkage so most of the managers interviewed for this nation piece say that irregular accounting practices concealed shrinkage losses and were an effort

tolerated even promoted by their superiors to inflate the stated profitability of stores several however offered a different interpretation of events one former assistant manager spoke of the irregular accounting that resulted simply from low staffing levels causing overstretch employees to fabricate inventory numbers because they didn't have time to form a proper count of physical merchandise so here you have the two problems of america first of all accounting fraud. and second of all these nobody knows what's actually there at all either there's a lot being stolen or there's not much being stolen and it's just employees who can't be bothered to get out for you know seven bucks an hour and go report where actual inventory is there brings up a couple of shrinkage of linking problems ok you have the shrinkage of the american stock market due to buybacks by corporations using the free money that they're getting from the fed so that shrinking the stock in the trading on the exchanges

which artificially boost earnings which then makes options worth more and the executives are carving out those huge bonuses based on that accounting fraud that you have to shrinkage associated with. consumer packaged companies selling products in smaller and smaller packages coke and a smaller you know the johnson and johnson q-tip bag a smaller the ready meal is smaller but the price is the same so that shrinking and then you have a shrinking whether people are stealing from places like wal-mart and the idea that wal-mart doesn't know how much is being stolen is false that's a complete false statement because everything is are if id tag and very carefully calculated as part of this just in time supply chain management system that they've spent decades perfecting the reason they won't report the exact number of stolen properties because they would like to claim from their insurance numbers that are also false because they're committing insurance fraud as well as securities fraud and innumerable other frauds wal-mart is one of the most fraudulent companies in

the world and as america goes so goes wal-mart as wal-mart goes so goes america so we have had so much money stolen from the american people so much wealth stolen from the american people their pensions their savings their jobs all that's stolen from the american people so maybe they could add those numbers back into the g.d.p. of like you can you you know joe back you don't it's there you could have been earning this had we not stolen your jobs and your pension your wealth you could be earning this but we still this much that maybe they could add that to g.d.p. and we guarding this wal-mart story the nation asks among the big questions raised by these allegations is whether irregular inventory accounting practices are widespread and systemic throughout the company or the result of a few local rogue operations and if the practices are widespread and not corrected for on the company's financial statements are they significant enough to inflate the company's profitability and in the process its stock price right now they're all the big box retailers are guilty of similar fraud whether it's target wal-mart

best buy you know across the board this course they're all being pressured by online retailers like amazon so these big box retailers like wal-mart are coming up with ways to make their stock price look good. in the face of real competition real price discovery real transparency with online retailers like amazon and others so they're resorting to a more pernicious form of criminal behavior than they have been been perpetrating up until this moment i think just like the european countries have started including drugs and prostitution i think maybe america should start including fraud because they are the chief fraudsters of the world and that would be good and would be probably bigger than any g.d.p. growth in fact it probably kills more people than any fight any you know hot war has on here website actual war i'm sure of goldman sachs took something called fraud public on the new york stock exchange f.r.u. day took a public on the exchange that it was a multi hundred billion dollar market cap and be the most biggest market cap

security by far and this is what happened one nine hundred twenty s. j.p. morgan at that time took these blind pools public on the exchange that were just basically fraud taken public they took fraud public to lead to this huge run up in the stock market the twenty's then the crash then of course the big depression similarly in the markets around the world today we have fraud being taken public on unprecedented scale which will be followed by an enormous crash in the stock market and the bond market and we're just counting down to when that happens you know the markets are on suicide watch and finally a quick one here from greenpeace speaking of shrinkage apparently an employee lost three point eight million euros on a gamble in the four x. markets i tweeted greenpeace and play gambles and four x. markets loses three point eight million euros in donations andrew davies who is a greenpeace employee responded a staff member was trying to protect greenpeace from currency risk not campbell obviously did not go well i mean i've made this argument to greenpeace you know

it's a guarantee appalled it was the executive director of greenpeace before the current executive director and i explain to them that they are one hundred million euros in the bank a couple of different banks in the banks were using that money. to finance the companies that they themselves are protesting against so greenpeace by keeping that money in these banks was actually causing more damage than if they just folded one away and nobody ever heard from them ever again they're actually feeding the problems that they say that they're working against by keeping this money in these banks and not have somebody engaged in forex scandal forex fraud like this highly regarded by the way told me how they were let me explain the great place the financial market is the environment you need to clean up first and then you go clean up the other markets you can't do that the other way around otherwise just blow yourself up because you're worthless i say they've got to go thanks. state of the second half a lot more.

i marinate join me. in that impartial and financial reporting commentary contribute and much much. only on the bus and on. right. first. and i think that you're. on our reporters. in. the in the.

huge and it was huge and it's vulgarized darwin science punishment for an on committed crime. in eighty feebleminded still today for the few i don't know why. i still don't know why genetic improvement through forced sterilization the basis for nazi ideology don't stop at just sterilizing and now go to the point of death. for years rarely discussed the until now really rather not talk about that right. the media leave us a wee bit maybe. part of the scene pushes to truly follow your party vision. push use that no one is asking with the guests that you deserve answers from.

politics. are today. welcome back to the kaiser report imax guys are time now to turn to nomi prins. all the president's bankers know me as a former banker who worked at such prestigious names as chase lehman brothers bear stearns and goldman sachs a gold then we welcome back to the kaiser report thank you and thanks are we here in london this is awesome well you know you are top high level banker or have been so i first i got to ask you what how can i do a leveraged buyout of scotland you know there's seeking independence and i have got a castle there and the economy is ripe for a takeover like greece was taken over by really the wall street they destroyed i

want to take over scotland and turn it into something big what do you suggest yeah actually you do got to get the same wall street banks give you a little extra money at zero percent which they're only lending out to people who want to do things like buy out countries or private equity firms hedge fund that want to buy out countries because actually giving it to little people so you just have to like you know decide you want to buy out a country as you have j.p. morgan chase and you'll get very very cheap money which normal citizens have no chance of getting but just call it the interest rate apartheid well if you're if you're a big and you want to do so by countries like greece or scotland that your cost of funds is there is zero but if you're a guy who's struggling to make ends meet go to one guy and you pay five thousand percent or you just a very even if you're like a someone in between and you're paid twenty twenty when twenty five percent on just a credit card to buy anything small that you need to get by a day it's very interesting as we've been in this period of no cost money now for about what six years supposedly was an emergency measure to get out of the crisis of two thousand and eight and here we are six years later them urgency measures still in place but no one in power considers there to be an emergency considers

this to be abnormal or something that should need to be addressed now in your book the president's bankers you really go into the history of all this and the names keep popping up again and again j.p. more. there's a name that's been was big in history a few times now since your book was published geithner former treasury secretary has published his book explaining his actions while the new york fed and treasury did his arguments convince you he says he is blameless and banks needed to be rescued whatever the cost he also is not friends with them which was kind of interesting considering he is and he wasn't the head of the new york fed that he was before the crisis happened he was friends with the group people citi group with robert rubin who he had been working for under the clinton administration big corps he came the head of the new york fed while robert rubin was a vice chairman at citi group trying to solve the citigroup problem before everyone knew about it back in two thousand and seven so his books interesting because indicates he had no knowledge of anything that could possibly have been happening and that somehow he was this hero because at the darkest hour he and sort of all

the other. people who were in the elite forces who were able to get together and buy and trade and get cheap money and sort out assets which is still going on today he was someone who had to do what he had to do so positions himself a sort of this like super hero who had no choice and we the little people including apparently you and i and anyone else who noticed this going through along the way don't have the understanding the comfort henschel to know how difficult it is in that particular position to make a decision and he did the best he had to do and he wouldn't do anything different but the result of course is that we have this cost money for all of these big institutional players the biggest banks have only become bigger the federal reserve continues to buy assets it's now last check i had from the last report last week has unlike four point three trillion dollars of debt on their books of one point six five trillion dollars of mortgage securities after supposedly tim geithner and

his crew came in and save the day so it's still going on and he still seems to have not only no remorse no culpability no responsibility for the danger that has been infused into the markets since those decisions. but he doesn't seem to think he could have done anything differently oh syria at the time was jump start the economy by buying all these assets and by interceding in the markets and make it to fake it or fake it to make it you know zero wall street saying that there was just there would be an escape velocity achieved the de commie would start to grow by itself but it never happened well the lie this for pets when this is in the us this is in the u.k. this is not quite in europe yet because it just can't even get to pretending yet but it's been said g.d.p. is a little bit the stock market is certainly completely gone up password been two thousand and seven before it dumped in the beginning of two thousand and nine after the crew got together and save the markets at the end of two thousand and eight little people the wages median salaries median incomes of normal people has stagnated or

gone down relative to inflation of actual prices of things of food of health care of education of rents and even the cost of mortgages of a debt to equity in the world two thousand seven hundred six percent debt to equity for the global g.d.p. now it's a four hundred thirty five percent or so now the words i just put all the stuff on a credit card assuming that interest rates would always be zero and that they would have to pay off the credit card is a rational expectation well it's rational for them because they are able to make these rates and the fact that we've had rates at zero for so long everywhere and it's a half a percent in the u.k. it's zero it's negative in europe it's zero percent in us the fact that it's been this long at this low and there continue to be asked of buying programs for all of these banks to continue to have political steps come in to save all the crap that they've created all the bad bets they made and all the toxic mess they've put into the rest of the markets the fact that it's still going on is an indication of how bad it really is and how much worse it has really gotten so that the expectation at

the political level is all this is all fine look everything's fixed g.d.p. is yet to live debt a little bit higher but we had to do it in order to fix these emergencies that we see. and two thousand and eight but the reality is nothing has been fixed the debt is higher the average economies are lower and only the markets and the availability of cash to the larger players has increased as have their profits as have their bonuses bounce back i'm thinking of jimmy geithner in this context it reminds me a little bit of tony blair because tony blair you know he at the time of the iraq invasion he believed he was on a religious crusade that he was fighting evil now here we are in twenty fourteen rax imploding again as another war on the and people are beginning to resurface to think about tony blair going to the hague and facing the reality of the war crimes that he committed and that he should probably end up the same way as saddam hussein hung from the highest yardarm that would be inappropriate and to his in glory is

career to me geitner i think in five years time similarly they'll recognize that this guy for all the blather that he was one of the architects of the biggest financial scam and wealth confiscation in history and i'd like to see financial crimes rise to the level of war crimes and go to the hague we try to bring lloyd blankfein to the hague a few years ago under a war crimes we got a lawyer involved and we push it forward but shouldn't financial crimes and financial terrorism as conducted by tim geitner or lloyd blankfein or jamie diamond should that be a hanging offense and the only is the only difference between these people and city of war. criminals is that they are taking their bleeding the economy they're bleeding individuals they're taking things away from people on a regular basis with political support a war of course generally has political support historically finance years and war criminals have been joined at the hip and this is this is nothing new you can't

have a war without being able to finance the war and historically that financing came from private sources like the j.p. morgan bank the morgan bank has been at the source of funding many. wars including both world wars and all sorts of things in between that's why banks and politicians are so tied at the hip because governments require private financing and by cheapening which is what has happened since two thousand and eight the cost of money that private banks can use in order to leverage their their their input into wars into the articles of war and into financial terrorism throughout the world continues to increase so to me going are five years from now when all of this has imploded again and it's not like it's not imploding as we speak it is again the fact that we have so many ballots and so much money is an indication of how decrepit the system really is and how much he and his friends know hank paulson lloyd blankfein jamie diamond all these people got together been able to use each

other and use their connections for decades to enable them to get away really to get away scot free so far from the crimes that they've committed against they are crimes against humanity the crimes against citizenship the crimes against the economy and they do require much stronger punishments than any of them have received all that they have received in time got to see nothing but a great advance on its book although they've received a little tiny fines that go to their corporations and no even requirement to indicate any sort of culpability for what caused these crises and how they've gotten off richer and more powerful more influential more politically connected after them than before the you know you're on wall street you work for goldman sachs you work for lehman brothers you know the kind of creepy people who work at these banks when we talk when we equate them with financial terrorism. let's drill down a little bit because when you talk about a fanatic an extremist jihadist there's somebody who's willing to kill themselves or others for their cause and they use weapons of mass destruction here let's say

it's him geitner he's willing to kill himself and others for market fundamentalism his cause and he uses weapons of mass financial destruction as warren buffet calls them so are they really isn't aren't these terror. as the isis people the people are fighting now in iraq they cut from the same cloth as tim geithner the psychologically speaking they're the same terrorist mentality they they believe in a misreading of their text and not not the crown and tim geithner's case but out of stress wealth of nations he will pick selectively from that and justify mass murder and slaughter are they cut from the same cloth these two there's a sociopathic line that goes through individuals who kill others and individuals who slaughter their finances you know that there's a requirement to disconnect yourself from general populations general humanity to consider yourself better than whether it's because of your ideology or just because you believe you are a superior person and a lot of these individuals really do believe that when you when you read his words

when you read hank paulson's words from from his memoirs after he was treasury secretary sort of in the beginning of that particular this particular financial crisis they present themselves as sort of above other individuals in last religion for their perspective because we'll have about a minute left there's a lot of bankers on wall street now to making suicide. last count i think twelve or twenty committed suicide last year so particularly at j.p. morgan because you know jamie dimon is somebody that when it when you realize what he's all about and you realize you're working for him the temptation to kill yourself is quite high if you had stayed in banking and not jumped out when you did would you be facing a summer of crisis of conscience ten years later fifteen years later that's a good question as i was suffering from a crisis of conscience back then and i had been something that was growing in me back when it's not like banking was better but it was certainly less sociopathic it kind of accelerates as as the years go by because all of these facts and all of

this this subsidization that that institution the bankers receive from government continues to grow and it will continue to grow absent any sort of you know town are fighting against it and i really felt that when i left i mean i really feel like today i am not just an individual a happier person but that would i just feel better about my ability to input information because i think you know this world the way i do rather than how was your message to a lot of these people might be an owl get out before you kill yourself yes not worth it or hurt others you can't get out because it's not worth it on your conscience it's not worth it on your soul. is more honestly hoddy you got out i got out i did the charles manson like so but you and i are going to take over scotland with a leveraged buyout we have to i think i think scalia's to be out of the way for independence he was very close to it's coming up so big first vote independent scotland and then you know me you know me and i will come and run the country do leveraged buyout no right everybody can come in and share. that's the idea well thanks for being on the

class report thanks for having me on all right 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 nomi prins author of all the president's bankers if you'd like to get in touch tweet us a kaiser reports next time. your friend posts a photo from of the case and you can't. call it different. the boss repeats the same old joke of course you like. your ex-girlfriend still pins tear jerking poetry keep. norris. post only one. out r.t. to your facebook you speak. eugenics was huge and it vulgarize ation over darwin

science and punishment for an uncommitted crying i was sterilized to learn to believe in eighty feebleminded still today for the few i don't know why they love me but i still don't know why genetic improvement through forced sterilization the basis for nazi ideology they don't stop at just sterilizing yet not going to now go to the point of death she did for years rarely discussed. till now i'd really rather not talk about that right now. and. if you leave the. economic ups and downs in the find out how long the long the deal

sang i and the rest so you meet a few will be every week on the. breaking news on r t behead all the main hospital in the downs confirms a russian reporter has died during surgery after sustaining grave injuries during the shelling of a village in east ukraine you're watching the last footage he shot during the assault. washington sends troops to iraq sunni extremists move ever closer to the capital after seizing several other key cities. also this hour british activists condemn a proposed law that would see some hawkers jailed for life and could also punish whistleblowers.