patently false the tone of the letter is so crabby and petulant you just can't believe it's coming from the f.c.c. so here's this very serious matter how corrupt our financial institutions are to the point where they're whopping all of us blind with bad mortgages and bomb investment instruments and we've got whistleblowers treating the matter like another a.t.m. machine wires we've got what is the pose to be the police of wall street acting like angry teenager is sending hate mail and setting up rewards programs because the system is just that screwed it think about that we have an anonymous program at these p. because the institutions we all trust with our hard earned money are that corrupt our whole financial system is a total joke what's not a joke to me if that were some reason we all keep buying into it that doesn't make me feel like laughing that does make me feel like i'm living in an alternate

universe with a bunch of crazy people around me that whistle i don't blow away in this story tonight let's talk about that why following me on twitter at the resident. are you like me so what's your comedy news with some t comedy news to be a bear for years to no holds barred fight to the dead. but the truth vampire fighting into the necks of the corporate elite billionaire freaks well they're going. that's what you get with my news show projected tonight.

well or good god what is a good oh well go back go to beginning go to getting i did a free lesson there i want to cause a report on 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 a 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 really is 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 deaths as they see 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 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 aliens showed up and declared war on earth as a way to increase inflation and increase deficit spending so this is war is all was unfortunately the last refuge of an economic scoundrel who is an able to argue for free market capitalism and all of its. benefits they simply see war of the state these are statists they're arguing for the state in your 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 the us dollar is backed by the pentagon is backed by war that if the state of truth there is out 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 a look out 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 they'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 have this big. 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 you see that enormous spread between the top of the mount of the united kingdom now is the most . unequal society is of the g. twenty nations in the world and it's 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 or the eighth 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 to 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 it 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 they 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 three 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 a very carefully calculated as part of this just in time supply chain management

system that they've spent decades perfecting the reason they don'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 said 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 stolen from the american people so maybe they could add those numbers back into the g.d.p. of like you 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 this is 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 it 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 done here i'm sorry actual war i'm sure of goldman sachs took something called fraud public on the new york stock exchange f r a you dave took a public on the exchange that it would shave 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 garret leopold it was the executive director of greenpeace before the current executive director and i explain to them that they had one hundred million euros in the bank a couple of different banks and 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 that have somebody engaged in forex scandal forex fraud like this highly rated market by the way told me how they were let me explain something 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 do that the other way around otherwise just blow yourself up because you're worthless our states are going to go thanks. states and for the second half a lot more. you are a. very hard to take time. to get along here. that are back with senator rick perry.

for the purpose of the political ticker. welcome back to the kaiser report imax keyser time now to turn to nomi prins after all the presidents bankers know me as a former banker who worked at such prestigious names as chase lehman brothers bear

stearns and goldman sachs a gold let me 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 they're going to pendennis and i've 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 just a few 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 your cost of funds

is there is zero but if you're a guy who's struggling to make ends meet go to wango 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 the day it's very interesting because 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 all the president's bankers you really go into the history of all this and the names keep popping up again and again j.p. morgan. there's a name that's been was big in history future now since your book was published tim geithner former treasury secretary has published his book explaining his actions wealth of 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 the 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 as 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 now 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. cost money for all these big institutional players the biggest banks have only become bigger the federal reserve continues to buy assets now last check i had from the last report from 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 well syria at the time was to jumpstart 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 in a state philosophy achieved that the economy would start to grow by itself but it

never happened well the lot of 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 a 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 the inflation of actual prices of things of food of health care of education of rents and even the cost of mortgages over because it was all you did 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 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 u.k. it's zero it's negative in europe it's zero percent the u.s. the fact that it's been this long at this low and there continue to be a massive 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 of the 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 debts 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 fix 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 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 highs yardarm that would be inappropriate and to his inglorious career tim geithner 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 is that about we try to bring lloyd blankfein to the hague a few years ago under a war crimes we've 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 the 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 are hank paulson lloyd blankfein jamie dimon 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 cause these crises and how they've gone

off richer and more powerful more influential more politically connected after them than before them so 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 is 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 buffett calls them so are they really isn't aren't these terror. as the isis people the people are fighting now in iraq to cut from the same cloth as tim geitner the psychologically speaking they're the same terrorist mentality they they believe in a misreading of their text and not not the qur'an 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 ten gaiters 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 their individual the last really just waiting for a second 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 diamond is somebody that when you 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 sit 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 effects 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 i just feel better about my ability to input information that you know this world the way i do rather than how it was so 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 journal's mess of like so but you are going to take a risk ali with a leveraged buyout we have to i think i think scalia's to do that as well for independents as very close now 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 delivered by a new right everybody can come in and share. this is sounds a good idea well thanks for being on the cars report thanks for having me on all right now is 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 the kaiser reports next time.

we're going to go did you know the price is the only industry specifically mention in the constitution and. that's because a free and open press is critical to our democracy albus. in fact the single biggest threat facing our nation today is the corporate takeover of our government and i was proud cynical we've been hijacked trying handful of transnational corporations that will profit by destroying what our founding fathers once built up i'm talking mark and on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem. rational debate and a real discussion critical issues facing up to find ready to join the movement then welcome to the big picture.

what's happening folks i'm abby martin this is breaking the sat so alabama isn't exactly a state known for being on the cutting edge of progressive politics in fact the state still in forced a ban on consensual homosexual sex until last week on friday the alabama court of appeals overturned the ruling that sends to man who had been gaijin sodomy to a year in prison but as shocking as it may be that alabama was still criminalizing sex between two consenting adults this case had no business even being argued in a district court that's because all the way back in two thousand and three the supreme court ruled that anti sodomy laws.