but iraq's instability in oil markets now his latest book the death of money looks at the various threats to the international monetary system so we asked him what financial warfare is and what impact it could have on the international monetary

system. financial fair is part of what just call it. there so it's a thing other than conventional kinetic. so much of warfare i'm. sure for.

the.

using i.s.i. as sort of his pawns along with former elements of saddam's army squaring off against sunni's backed by iran and the u.s. is trying to get on the iranian side so it's a very complicated chess where the bottom line for markets is it's complicated it's not going to be over soon it's going to get worse it's going to regionalize and that means oil prices are going a lot how are a lot higher and you know what is escalating violence how does it play out in the future markets obviously there's going to be a lot of volatility but what would be your bet right now. well again you know this will show up in futures markets higher oil and expect higher gold one of the things

that concerns me a little bit aaron is we seem to be living in a world a two second attention spans you know look at market professionals in the u.s. and you know free months ago are always worried about ukraine and you know kind of go went up a little bit on a fair trade and there was some volatility and then you know there was a little bit of pushback of the sanctions they were too extreme but putin is not just a good chess player is a good you know sort of comfort to judo expert he was smart enough to back off a little bit he said i pushed too i got some pushback on the pushback came he backed off everyone in new york said oh great ukraine's over on to the next trade well ukraine wasn't over it's not over who does now moving in these growing tanks in eastern ukraine they shot down this same putin sat there with a grenade launcher but obviously he has the ability to to influence what's going on there and i heard reports i haven't seen them confirm but i did have some good sourcing on reports that sadly some russian journalists were killed in ukraine today and if that's true that gives you know putin has often said you know i don't

want to invade your country but i will go protect russians well that's a. reason for war putin is one but so he might come back in ukraine also he's. saying that the white house really can't walk and chew gum at the same time if we're distracted with iraq what better time for him to go into ukraine and he's the one stirring the pot in iraq alone the saudis as i say we've got to work this problem that many. dimensions but the bottom line for markets is that you know there's this outrage between complacency on the one hand and a very tumultuous world that's probably going to get worse and more dangerous on the other that's going to break my guess is that will break in favor of higher prices higher inflation higher oil and higher gold kind of reminds me of the one nine hundred seventy s. you know was the fed easy money in seventy one seventy two to promote nixon's reelection and we didn't get a lot of inflation at the time but then there was a geo political spark in one nine hundred seventy three with the yom kippur war then inflation just ran away we had fifty percent five zero inflation between one

nine hundred seventy seven one thousand eighty one so what's going on in the middle east now and ukraine could be that kind of geo political spark on top of all this you know dry candling or would that the fed is printing you know people have been surprised how to print four trillion dollars which the fed has done and not get inflation well the answer is that printing the money is only half the equation you need a spark or catalyst to a change of behavior to increase the loss of the money you can wait a long time for the spark but this may be it. now as the situation begins to unravel it points to the question of why we got involved in the first place now the markets are already feeling the pain as several international refineries in northern iraq have a back he waited personnel ron paul an outspoken critic of intervention abroad has said quote because of the government's foolish policy of foreign interventionism the us is faced with two equally stupid choices either poor in resources to prop up in iraqi government that is

a close ally with iran or for or throw our support in with al-qaeda in iraq as we did as we have done in syria i say we must follow a third choice ally with the american people and spend one more dollar or one more life attempting to remake the middle east. now ron paul isn't alone in his criticism either back in two thousand and three millions and millions of people took to the streets around the world in protest of the iraq war but as always we'll be keeping a close eye on how this story shakes out and keeping you updated on the markets reactions. time now for a quick break but stick around because when we return richard heinberg is on the show the senior fellow at the post carbon institute sat down with malt to discuss the practicality of replacing carbon energy with alternative forms of energy plus artes varian abby martin is on the show today the fabulous miss martin is joining me in today's big deal to discuss women in the workplace but before we go here are

a look at some other closing numbers of the bell stick around. we'll say to hell with you we're going to follow our brothers in the south a little while brothers and to. growing up our brothers and grace are going to follow our brothers and sisters all over the world the want to scape it is scape patch and jettison themselves from this awful american a gemini which is based on dollars of curiosity based on money printing from a bank that's clearly in substantial and. balanced. dramas the truth being ignored. stories others refuse

to know to. say since changing the world right now. to make sure. you no longer hear from roads to live. up to don't. welcome back to the show now in the middle east is looking increasingly unstable and that probably means that the price of oil is going to go up way up but given how important carbon based energy is to our economy how realistic are alternative forms of energy to replacing carbon energy to discuss more about this issue and what the future holds i spoke with richard heinberg a senior fellow at the post carbon institute and an expert on energy issues now i

first asked him what if we have reached peak oil supplies and what alternative forms of energy are really out there truly here's what he had to say. well there are lots of them. even though there's a long list everything from nuclear to solar and wind and hydro power and geothermal tidal power wave power i could go on. we've looked at all of those and our analysis suggests that none is likely to replace fossil fuels in the us specifically oil at least in the transport such a sector anytime soon well has a lot of things going for it from just from a pure energy economic perspective it's it's portable it's concentrated. yes we could run cars on electricity and and more and more electric cars are coming out all the time but you can't run airliners on batteries because the batteries

would be too heavy and big so one never probably never going to have electric airliners and since same problem with eighteen wheel trucks that deliver all the you know food to the supermarkets and products all across the country so our transport system really is hooked on oil and the alternatives just aren't are not there now do you think the costs of our noble energy sources will drop quickly enough basically to help us transition away from carbon sources of energy what's your thoughts on what are your thoughts on that. you know well they are but those costs are dropping and of course the opposite is happening with fossil fuels and particularly oil and and more with natural gas and coal will be seeing higher prices there also so that the price differential will will increase and so renewable energy sources will become less expensive so you could say well what you

know problem solve the. the market will take care of it but it's not so easy because it takes time to make an energy transition and the energy sources were. talking about solar and wind have characteristics very different from those of fossil fuels that are not dispatchable you can't. you can't command the sun to shine or the wind to blow when demand for electricity is high. so you have to somehow match supply and demand through energy storage or or upgrades to the grid all of that's very expensive takes time and there's so the you know when you do all the calculations that you know it really doesn't look all that good for us solar and wind as complete substitutes for fossil fuels in some ways you could think of them as fossil fuel extenders because well solar sunlight and wind are free and abundant and renewable the the technologies that we use for capturing

them the wind turbines and the solar panels are not renewable they're made out of nonrenewable mineral metal materials and and mining those materials transporting them and transforming them takes fossil fuels so it's a system that is in a sense piggybacking on our current energy system that's dominated by coal oil and natural gas that's interesting and in and out tend to think that i mean you know the layperson this doesn't really think that way but it's important now i want to run with that understand i wrote a book called the end of growth adapting to our new economic reality so can you tell our viewers what the premise of this book is. full of promise it is that. we've reached the limits to growth and of course limits to growth was the title of a book published back in one nine hundred seventy two it was a study undertaken by some scientists at mit wendy half of the club of rome looking

at the likely scenarios for population. production and environmental pollution and as as time went on and a standard run scenario showed a peak in decline in world industrial output sometime in the early twenty first century. studies that have looked at that report since then and have shown that its standard runs in the area was actually pretty close to being on on track for predicting the various factors of production as they would go up since then well here we are in the early twenty first century and we're seeing declining returns on investments in oil production we're seeing declining returns on. efforts to produce new technologies yet we have lots of new technology in in communications and entertainment but the the basic technologies that we run our world on transportation manufacturing agriculture are actually hasn't done that

much change and. it's because population is still growing but these other factors are reaching point of declining marginal returns it looks as though world economic growth is in the process of. shutting shutting down and i think the. crash of two thousand and eight was a big symptom of that but all we did really was to paper that over with massive government interventions in the forms of bailouts and stimulus packages and then the central bank stepped in with trillions of dollars in. quantitative easing all that's been able to do really is to. create a kind of zombie growth that the world is feeding on right now hend and it can't go on forever i mean these these are extraordinary tactics that are that are still

being used by the world's governments and central banks to main. jane the the appearance of growth we should be looking for a plan b. you know what do we do as growth comes to a halt because it's inevitable that it's inevitable you can't continue growing an economy based on consumption forever on a finite planet and where we're reaching the limits i mean it scares the heck out of man it's very concerning but i want to bring you brought up the great recession and you know the global economy has come back after the great recession so doesn't that say that the economy is resilient and that growth isn't over i based on some level. right well. yeah the economy has come back on the basis again of these extraordinary measures the u.s. . federal reserve has been injecting in many months up to eighty five billion dollars into the national economy just basically creating that money

out of nothing in order to keep interest rates low so that people continue to borrow money and go out and buy stuff. and it's only worked marginally i mean this is the this is the weakest recovery from a major recession in u.s. history. if you look at unemployment figures it's true that unemployment has gone down new jobs have been created but that's largely because we've redefined unemployment you know people who are have given up looking for work are simply not counted. and other other accounting tricks are being used also to to hide the situation from a so that we don't really see that we're at a historic turning point and the tragedy is there are things we could be doing to adjust and adapt to the end of growth if only we were honest with our so and recognize that this is what's happenin. that was richard heinberg a senior fellow at the post carbon institute time now for today's big deal.

big deal time with one of my very favorite ladies on this whole planet mr martin the host of breaking the set. the fabulous alvey is here to discuss gender inequality in the workplace and the infuriating and i mean infuriating pay gap that also exists now according to the latest figures from the u.s. labor department white women earn about eighty one cents for every dollar that men on black women earn sixty seven percent of what white men earn and latino women are only sixty percent women also spent twelve years out of the workforce on average to care for their families now even as women work diligently and just as hard as men they can't seem to break this glass ceiling even though it should be shattered and

at least been cracked if you will but why do you think men continue to get promoted faster and get paid more than women i mean this is a really important thing to address erin because when i talk about the pay gap people respond there like that's a myth the whole not having two cents on the dollar and further it's it's getting promoted it's raising the ranks and whatever profession and on another hand i think it's first of all the lack of competence i think we still have a very massaging the sexualized world on the other hand i think it's also a lot of reverting back to these roles that women think that they need to decide because if you look at the jobs that have these pay gaps are that are lower paid it's like you know nurses teachers and then men are you know the anesthesiologists the doctors the executives so i don't know there's a lot of social things that i think go into those factors really glad that you bring that up because you know a lot of people argue or point to the fact that children kind of changes everything and that this maternal instinct really creates this tug of war for one. and i want to balance work personal life stuff but do you think there's any truth to that

maternal instinct hurt your professional career now as you know you have children i'll tell you what it really is here do you think the us is only the only developed nation in the world that doesn't allow paid maternity leave the theory that women have to leave their jobs if they want to have to do so so here we live in a society where you know you're chastised if you don't want to have children what are you this this you know miserly made that doesn't have a sale. or if you want to have a kid you are literally do need to abandon your career and you will lose that chance to get higher and to rise the ranks because you do want to have a family so it's a really big double edged sword that i think that we experience here that not a lot of other european countries do i mean it's truly a period and it's scary for all young women and even women that are approaching this point in their life and they want to figure out what to do and it's a rock and a hard place there's really no way to get around the having it all it's very hard to think about but you know studies have also shown that women aren't typically as aggressive as men when it comes to negotiating their salary. do you think this is

true and b. why why why women are so absolutely think it's true and i think you and i know in this profession i think every woman that i know that's in a profession has been completely sexually harassed and this massage mystic environment of employer employee relationship by their bosses. and it only supposed to get out and then you tell someone that like hey this is going on they laugh it off and they're like oh well you know that's just you tube comments or whatever i mean all of these things add up and i think it really makes women feel inferior and not have the gumption or ability to really speak out about these things so they kind of just shrink down as shrinking violet and then of course if you are assertive and you're seen as this being the b. word with a capital b. look at this well who does she think she is going to ever win and never will i also mention this because when it comes to saving for retirement men and women differ as well and according to a twenty thirteenth study by prevention on the gender gap of retirement savings the top financial priority for men is to quote maintain their lifestyle in retirement

while for women the number one goal is to quote not become a financial burden to loved ones so what this shows that there is obviously a stark difference in the financial retirement priorities of men and women so abby do you think that there is this innate selflessness that women have that makes them you know less selfish when planning for their later years in life i think i think yes and i think one only has to look back at the last fifty years women live was not that long ago right we just got the right to vote not even one hundred years ago so i think back to fifty years ago women were seen as literally their only role was the spouse to take care of their husbands now i think we've emerged into this whole market where we're still trying to pick our feet up and i think the only way to change it really erin is to assert ourselves and change these paradigms break these paradigms because men are never going to give us give it to us unless we step up and change that glass house once and for all that is coming now never been rebuilt i love you thank you so much for your take on that but on that's all for now but you can see all segments featured in today's show on youtube youtube dot com boom bust our teeth we also love hearing from you so if we check out our

facebook page at facebook dot com slash boom bust archie and please tweet us at aaron ate at edward n.h. at abby martin from all of us here at us thank you for watching what's the next time john. ingenues but eugenics vulgarize ation of darwin science punishment for an on committed crying i was never a law is to learn from being innately feeble minded still today of the few i don't know why not a lawyer who by the still don't know why genetic improvement through forced sterilization the basis for nazi ideology they don't stop at just sterilizing and now go to the point of death. for years rarely discussed on till

now really rather not talk about that right. some people say that when it happens somewhere in time not a very nice one like a curtain falls down. if it's some point i could no longer stand it i decided to kill myself. all of you know i was scared of what i'd done i punched but i didn't understand where i didn't want a man raising his hand the woman should. run from him. everyone who sees this video to also speak to the children's father. my has then became a control of all that he would do anything. why you're crying don't cry i know i'm tired of crying too don't cry.

well groomed to the. shoulder thirty five can just bend over fifteen billion euros on head says thirty to one hundred fifty million degrees with uncle mike not a cell phone think restrictive france we travel in search of the sun. knowledge you are we've got the future covered. un expresses outrage at the killing of russian journalists in ukraine who died while filming fleeing refugee yelling near the city of lugansk islamist militants are closing in on the iraqi capital rampaging through half of the country at a terrifying pace spain's king steps down protesters will hold one a key to go choose acting mass protests watch how the media turns a blind eye to you gets on oxy.

the place is trying to clear. the people who are going to take your news and your life for the story taking every minute. cut me. the way of. my own life but had to. think this setting all. these cases mostly to the limits. sometimes for nothing which. is silly and. it's not just a week but still we can still be just if you see a stage eight looking to leave but he was.

pleased to. did you know the price is the only industry specifically mentioned in the constitution and. that's because a free and open press is critical to our democracy. in fact the single biggest threat facing our nation today is the corporate takeover of our government and our crafts to mco we've been hijacked trying handful of transnational corporations that will profit by destroying what our founding fathers once told my job market and on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem try rational debate in a real discussion critical issues facing america five go ready to join the movement then walk a bit of. a

cry for help iraq is asking the u.s. to carry out as strikes against sunni insurgents this jihad is the taking control of a faster pace than even the american troops mounties during the two thousand and three invasion. the fighting in eastern ukraine leaves the city of slovyansk with no water or electricity and almost all its hospitals closed meanwhile the president's repeated vows of a cease fire are yet to be fulfilled. plus the russian president's left red faced up alexander lukashenko falls victim to a phone prankster pretending to be the son of ukraine's ousted president.