welcome to the kaiser report imax kaiser you know general macarthur once said americans never quit that was when there was something worth fighting for before a fraud was the only way of life posed a gold standard abandonment and bankruptcy before the population grew morbidly obese down in bargain cans of processed food bought of the company store wal-mart where their food stamps what the furthest before the arrows were filled with patriotic scoundrels demanding perpetual war which can never be funded by a low wage high food stamp economy now those americans who are abandoning ship like never before. yes max we've heard repeatedly of these americans who are fleeing america citizenship but also corporations now american corporations are fleeing at the fastest rate after the rush of firms fleeing

america for tax reasons set to continue america as a land of immigrants but some of the biggest companies are keen to emigrate different abroad by high tax rates and america's worldwide system of taxation which grabs a share of their corporate profits the preferred method of exit is the tax inversion which uses a cross border merger generally one that also has some sort of industrial logic as a pretext for incorporating in a more tax friendly place the biggest firms to do this are health care and energy firms right right right right some some some kind of commercial logic attached to it they try to cloak what is obviously a tax dodge under some kind of commercial logic of course there was two major drug companies here in the u.k. involved u.s. u.k. involved recently pfizer nash's anak i am fives are the male imposed drug manufacturer erectile dysfunction that cynthia and astra zeneca yes who is the suitor. yes it was the. obviously pfizer's an american corporation astra zeneca is

a british corporation so pfizer's was seeking reasons there are like the queen yeah and pfizer was like that ma'am so they've got the erectile dysfunction drug going after the queen there were any around buck house and the queen saying no no put that thing back in your trousers we're not going to allow those tax avoidance merger although i don't know why she would be against it didn't she just pop four million pounds into the coffers of her little child as braai the acquisition of some estate near blackouts. that you think she'd be all for this horrible concatenation of fraud well the british are very much for it they aspirate li want to they really want this american money the problem is the united states congress the senate the president are trying to stop these deals because these guys are fleeing the thirty five percent tax deal now of course the likes of goldman sachs and g.e.

they could set up shell companies easily to hide cash and their dividends in their contracts like that but if these companies like energy and pfizer's and pharmaceuticals which sell real goods to overseas a lot that's where most of their profits are coming from but they can't send it back into america without incurring a thirty five percent tax rate which is you know the barrier to entry they're the ones that created this high tax rate and american corporate taxes in order to prevent any competition from emerging but over in the u.k. it's only like nineteen percent and in ireland another preferred location for these deals is fifteen percent right was the same situation with apple computer they one hundred billion one hundred forty billion dollars in cash from selling their products overseas but they don't want to repatriate that cash they want to bring that cash into america they do want to pay the taxes on the money that they made on the profits that they've made so this is a tax dodge deal the inversion deal where you've got a murder. or of these huge corporations purely to create

a tax dodge so that when it went my point is when they say that there's a commercial justification a veil of commercial justification that's false there is no commercial justification for this. by reducing competition in the drug industry doesn't help the drug industry it's it's commercially a big big good sour note it's not a commercial choice it's purely a tax job yes it's purely a tax dodge there's no other reason for it they they also look at a deal in particular that's going on at the moment medtronic an american firm is trying to merge with the irish firm called covidien and in order to reduce their tax burden and they said that medio tronic has borrowed heavily at home rather than repatriate foreign earnings and trigger extra tax payments to finance share buybacks and dividends with this deal it can use its foreign cash both to reduce its debt and to finance the acquisition itself and gauging in quo hopscotched

transactions that funnel cash from non american subsidiaries to the irish holding company missing out the american layers so they want to avoid all the american players but you know the thing is you look at these sort of companies that get to do this whereby they're all they're also using the might of the american military to extract the likes of t. tip and t p p all these trade deals which benefit them they don't want to pay the taxes for the military that forces all these countries to sign these deals it's the chump that you is on food stamps going to wal-mart is the one cheering on the scoundrels on fox news and their patriotism and saying yes let's do all these deals but they don't want to actually pay the taxes to pay for all of that façade right well the joke was made recently in a political circles in america some politician saying that the he was aware that apple was an irish company but their headquarters is in is in ireland for the same tax dodge reason so they have slave labor in china they. paid taxes in ireland they

get underwritten by the copyright cartel in america backed up by the american pentagon that's globalization and if you're on the right side of the apartheid wall of globalization interest rate apart apartheid then you get unlimited funds unlimited profits with zero risk if you're on the other side you get abused and bombed and droned and this is the american system and people as you point out in your headline are not only. working for corporations that are outsourcing their tax liabilities to low tax regimes but americans themselves are expatiating they're leaving they're abandoning their passports in record numbers they're trying to get out of the hell that exist between canada and mexico before that just blows up in a ball of flames and big macs no i might also add that to the top locations are ireland but also the united kingdom and you how many times have you heard american corporations shriek on the likes of fox news saying that if america raises their

minimum wage we're going have to abandon this country while the human american minimum wage is seven dollars and twenty five cents an hour what is the minimum wage here well it's the equivalent of ten dollars and thirty one cents an hour so fifty percent more there yet they're still coming here so what's that about well it's a victimizing and scapegoating people who work for a living if you are someone who works for a wage you're considered a terrorist now in america and that's through the terrorists are people who work because you don't need their tax money anymore because you can just print money so the three trillion dollars that was collected by the government last year america is a peanut sized amount of money compared to the four to five hundred trillion dollars i was simply printed by the global banking system to bail out zombie banks so you don't need people to pay taxes just like in saudi arabia they don't need people to pay tax in saudi arabia they just pump more oil and sell it on global markets the federal reserve bank just pumps more cash and they use it for trade. on the world

market in ways that benefit a very very very small minority of people in the united states they don't major jobs that are major tax and if they if the message from barack obama do is population as do its all favor go yourself you also talk about printing money now we talked recently about the fact that twenty nine trillion dollars of stock market equities are owned by central banks now and apparently the biggest buyer of them is china now ellen brown looked at this and this is an interesting take on what is going on in the global markets right now buying up the planet out of control central banks on a corporate buying spree so central banks have the power to create national currencies with accounting entries and they are traditionally very secretive we are not allowed to peer into their books it took a major lawsuit by borders and a congressional investigation to get the fed to reveal the sixteen plus chilean dollars in loans to made to bail out giant banks and corporations after two thousand and eight but she asked what is to stop a foreign bank from simply printing its own currency and then trading it on the

currency markets for dollars to be invested in the u.s. stock market or u.s. real estate market or the u.k. real estate market as we always point out right behind us all these properties being bought by china and she's reckoning this is what's going on they're playing america. at their own game but much cleverer they're doing a better game of chess here and they're just printing up money and buying up all the assets over here and the same way. china becomes a global version of carl icahn the corporate raider so it's a hostile raid of american assets there are a bear hug you know as as a says you know and you know there's a famous saying in china no ticky no surety. which anyone has ever lived in new york and taken their clothes to a dry cleaners know this famous phrase no ticky no surety so what china doing is they are flooding the world with chickies receipts and claims of phantom money of money and in exchange they're taking all the shirts so it's way on all the chickies

we own all the sureties drop dead. well the other thing i was suspecting i came up with this idea that you know we've we've seen that they lead the likes of queen dow the giant port city in china has shut down the port because they can't find out who actually owns the aluminum or alimony a more copper that and i reckon that all these properties here are being bought using the same collateral of that aluminum or copper there because you know in china they clamp down on using your property as leverage so instead people went to metals so people were buying up that they claim they were buying up aluminum and copper but i reckon it's the same exact is just one tonne of aluminum just one ton backing it as the collateral for all of these properties so spot in cash and of course when they're buying these one million pound two million pound properties or ten million pound properties they get a passport with it so they're like the these guys are again clever genius playing it at their own fraud games here well that's the issue of repetition we talk about

in london that they can sell the same bond an infinite number of times to float this ponzi scheme george osborne's debt ponzi scheme and of course the u.k. is now the most indebted of the industrialized countries in the world ten times g.d.p. to debt. so the chinese are using the same pot the cation fraud but not with a paper asset like a bomb they're using a warehouse full of aluminum that doesn't exist except for a couple of crickets bonking in the corner there is an aluminum in the warehouse and it's all ticky no surety yeah it is like a counterfeit re hypothecation they're famous for counterfeiting you know american goods or french luxury goods or italian luxury goods and this is like counterfeiting their fraud and order to actually get real assets over here which is i think pretty remarkable right so the buildings here in london that are being bought by chinese are being paid for by money that's been collateralized by a warehouse full of cricket droppings yet well and that is and of course now the

real estate market is imploding in china so they're going to get a massive margin call people's bank of china massive margin call and to pay that margin call they're going to call up let's say fannie mae or freddie mac. or the s. and p. five hundred say we'd like you to send over the state of iowa please meet our margin call on our imploding real estate market or send over the state of california and barack obama will be like ching ching chong jiang zemin bundle which means. no jake you know shorty all right well we got to go stacey thanks so much thank you states and for the second half a whole lot more. i

marinate join me. for in-depth impartial and financial reporting commentary can from news and much much. only on bombast and only on a. plane will go to the. show thirty full control spend over fifteen billion euros on culture that says to be one hundred fifty million degrees with some token mark still to sell something peacefully to friends we travel in search of the song. knowledge young we've got the future of coverage. of the. place it was terrible take place very hard to make a plan to get on here played live happily ever had sex with her great

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now i. want to think if the public. welcome back to the kaiser report i max kaiser time now to turn to ronnie moaz of standpoint research dot com and now philanthropy and philosophy dot com ronnie welcome in person to the kaiser report thank you for having me write this is a fantastic opportunity for us we have a lot to talk about the first thing i want to mention that is as a stock down a list even shooting the lights out for the sense two thousand and eight if you had over four hundred a floor under stock picks and they're beating the s. and p. by five hundred basis points and your peak beating your peer group in many cases by twenty percent so you are a gifted stop picker and you're absolutely number one as

a stock picker and as a result you are enabling lots of money to be made but but now you're taking it you're trying to change gears or you want to do something with that money you've got to eat you would do what exactly how do we describe this because this is your get this stock picker usually that's enough but in your case they got to be something more talk about what happened. there was such a focus on wall street on how much money these companies are making and nobody ever asked how they were making the money and in the last year i started really analyzing what these companies actually do to turn a profit and i just got sick to my stomach i blacklisted apple and amazon and starbucks and wal-mart and the our who and philip morris and c.v.s. and each story was more noisy ending than the next one and i've been in more than

fifty countries on six different continents this is my last stop right now on the fifty thousand kilometer trip that i did during the last four weeks eight different countries and a lot of what i see in america i do not see in other countries that i'm traveling so you can blacklist the mining companies you can map blacklist the consumer staples companies you can blacklist the consumer discretionary companies i'm really having trouble right now finding a company and an industry that is clean so you have you have appliances money people of pension funds etc they're buying your research and they manage money and so what's been the response the client base i think this is they were a little bit on the easy nobody on wall street as of a spoke in the way i'm speaking i am hell bent on cutting the gap between rich and poor worldwide and i'm using a different approach speaking nicely to the people at the top has gotten the poor

and those speaking on their behalf absolutely nowhere for centuries and i'm deciding to take a different approach which was humiliating the upper class telling them exactly what i think about them and educating the public as to what is really going on right now you take starbucks for example the market cap is fifty five billion dollars most of that money is in the pockets of wealthy multimillionaire and billionaire shareholders fifty five billion dollars and the bean pickers in the coffee fields are getting four die. as a day the situation with amazon wal-mart apple is just as bad if not worse i don't even want to go into what philip morris is doing in order to turn them profit every quarter of it now this way you talk about it's not obviously it's not new there's a whole movement called corporate social responsibility to spend out about for for many years and it's growing in importance in our funds dedicated to corporate social responsibility and then you always share the riposte that wells oh well you

know milton friedman said that the only responsibility for a company is to make money it's not to be quote unquote good and there's the dynamic so. how are our you different than let's say corporate social responsibility efforts first of all i don't really look that closely at what other socially responsible organizations are doing i'm doing my own thing as far as milton friedman goes i've heard all of the arguments from the right and none of them make sense to me this trickle down theory of the free markets the only i think it's a lot of hogwash and excuses on how they can justify what they have and there is no just way to justify what they have from what i've seen in my travels around the world the people working the hardest and adding the most value to society are the ones living below the poverty line and we just have the whole pay scale here twisted and it needs to be adjusted i'm not a communist i'm not

a socialist but i think that the pie is not being split up fairly when we take from the poor and give to the rich that's fine with the upper class the minute i talk about having a more fair distribution i'm a communist and a marxist i just want people to be treated fairly nobody working forty hours a week should be anywhere near a poverty line and i don't care what country they're living in and we could wipe out poverty very very easily not just in the united states but in the other western countries and around the world if people would spend just. and money on what they need to be a little bit more philanthropic and just have red lines in the sand that they're drawing with regards to what level they're willing to stoop to in order to turn an extra dollar of profit for shareholders that in many cases don't even need the extra money let's talk about this in terms of being purely on a stock picking side because this is how you approach this you're looking at it as an analyst and obviously the best analysts on wall street right now you're number

one if you look at your track record since two thousand and eight you are again to use a oft used phrase shooting the lights out on the analytical side of the business when you talk about a starbucks or you talk about a cigarette company i mean the term that an analyst use is risk these companies are you're identifying risks to society but actually the risks to these companies to their balance sheets so that risk has a dollar of value to it doesn't it so you doesn't your report if you come out with a report on starbucks stocks fifty two billion market cap and i don't know if the stock price is currently but you're saying is that there is x. dollars per share of unrealized social dissent risk is that correct yes the problem is it's going to take many years before that is realized in other words if you want to short these companies because the there might be some social

back now that we have you know up until twenty thirty years ago the poor people have no voice now they have a voice and it's through people like myself and through their own personal use of the internet and you know in theory you could say ok i'm going to short these companies because i think eventual the public is going to turn against them they don't you know i'm having with this you know as we've talked about a little bit we on this show we've we've talked about this for a number of years i've had a campaign in the u.k. with both zac goldsmith and ben goldsmith about monetizing the dissent and getting people. involved in other words of starbucks is this company that has this unrealized social dissent on its books kept the public by simply pointing that out and you do mention boycotts as well on your website if they were to boycott a starbucks with the goal of knocking x. number of revenues off the top line and therefore the stock price would get hit so isn't that a good way to marry this social networking that you just talked about people are

now aware of what's going on with your work as an analyst and then capturing that. say you know to take a step further capturing that that realize dissent risk with a short sale so how is that not a good idea i mean but my but my question is can't you can't you get the public involved in involved in a way that they're not putting up any money they're putting up a boycott which is a free risk list and cheap way and no cost way to fight back you know are you will spend the rest of my life driving traffic to this new website in the hopes i can get people to stop being more discriminating in who they spend their money with the problem is i can't get my message to the masses so easily because the large networks in america if it's a.b.c. c.b.s. n.b.c. will not let me speak the way i'm speaking to you because someone attacking their corporate sponsors that are paying for the advertising time on their network let me

jump in here with my response to what you've just said because as i've just said we've been active trying to push a campaign like this for years and when i went to the head twenty meter they said great show us a short sale because you're going to deliver some top line revenue depletion with a huge boycott maybe as coca-cola maybe at starbucks but what are the activists like greenpeace and others they said we don't want to do with this because if we associate ourselves with wall street in any way with finance in any way the average don't. later the five dollars that we rely on will be turned off and it'll be it'll kill our fund raising efforts because there's a goal against wall street if they mention that they're using some kind of hedge fund or a short sale to attack a company that's doing wrong the perception from their supporters would be that they've somehow flip sides and joined the bad guys so how do you fight that illiteracy financial literacy would you mentioned in my previous interview with you

maybe there's a way to get around that by saying that the money you make in the hedge fund will go to the people that are being on devalued under-appreciated and underpaid by society exactly so if let's say who's the biggest victim look at starbucks you've got victims and the third world who don't get the the benefit of the trademark on those coffee beans and the other aspect the intellectual property the coffee beans they don't get the they're not sign the finished product at the coffee beans they're getting hugely undervalued for their coffee beans so let's say there's a group in that area maybe it's brazil or somewhere else and this fund if you marry the boycott with a short sale and the idea is if you capture again we're going to channel it to that group isn't that using capitalism in a way that and wall street friendly way to reverse the flow of abuse it would be unbelievable but the people that are giving you the money to run the hedge fund are going to have to forfeit profits so not necessarily because they're making money on the short sell and it's a competitive trade in other words as they are now introducing this type of

arrangement of a trade that is not correlating swimming and so you wouldn't be giving all the profits to the people that have been on devalued that we're talking about you would be splitting it up it's win them and the people that put the money into the fund it's a it's a fantastic idea but we need to get this out to the masses and that's what you're hearing on the you've got the the the chops on wall street you're the stock picker extraordinary you're not just some guy who has a mild interest in stocks you are the babe ruth of stock picker. you know at the moment i mean that changes every decade there's someone rises up and it's like my god this guy has got the hottest band in the world and you are that guy so you know again i should you know drop these names ben goals with zac goldsmith these are children of billionaire jimmy goldsmith who made his bones on wall street doing this type of thing so putting it all together it could potentially create this what we call it the karma bank hedge fund and channeling money grabbing the short sale

splitting it with the investors and as you point is that was something like that your side philanthropy and philosophy does it fit in with the ethos of that absolutely what i'm trying to do is i'm still in the stock market because i love what i do it's it's i love the competition and being able to out smart enough to form all of these firms that rejected my resume twenty years ago and what i'm doing is with the money that i'm helping people make with standpoint research i'm telling them where i would like to see some of that money go and that's why on the new website philanthropies and philosophy dot com i'm giving them the names of twenty four of the most highly regarded highly efficient highly transparent and on this charities in the world and you have all the options there whether it's animal shelters cancer research education hunger in africa and everything in between but ok but they mentally that's a bit of a passive approach because you're suggesting that they make that done ation as

opposed to tapping into those animal spirits and saying grab the shorts as what you got about it at a time actually but can you stay for another segment absolutely ok that's great. stay for another segment and that's going to do it for this edition of the kaiser report with me max kaiser stacy herbert and i thank our guests as a philanthropy and philosophy dot com if you'd like to get in touch tweet us a kaiser report until next time by oh. for it. will come to the. show thirty fold can just spend over fifty billion euros on cold feet and says to each one hundred fifty million degrees we come talk to mark fuel to sell from st petersburg to france we travel in search of a song. knowledge young age we've got the future covered.

his name was joseph he was nazi germany's minister of propaganda the myths that he created exist to this day. hubris gerbils propaganda was posing are simply trying to denigrate other nations while at the same time raising ordinary german self-esteem to. keep its complete use of go sniff precisely what the masses need to hear in order to make them follow him he was like the pipe paper from the fairy tale that made rats follow that you know this by. the myths created by the chief nazi ideologist bound for tal saw in the west we have to fight these myths today in memory of those who walk in the second world war.

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reality in iraq where hundreds of civilians have been slaughtered this month as jihadist radicals ravaged through the country leaving carnage and destruction in their wake. big business bites back on u.s. firms try to talk washington out of burdening russia with more sanctions fearing their own profits could take a hit. plus a damning report against america's swat armed police units for hundreds of militarized rage on civilian homes which led to a number of deaths.