bank accounts are frozen. chaos seems to be happening it's funny in a way but on the other hand it's not funny because it looks like there could be some sort of you know world war three about to erupt in the middle east this guy is a putz ok he said big clients don't good because there's no central government there's no central bank and then a week later the central bank of the central government rips out all of us that worth if you add a bit coy he would have a problem he's like a poster child for why i should buy bitcoin anyone is thinking about should i go and look at this poor idiot sleeping on a mattress in the ritz hotel or house arrest because he didn't listen to me ok furthermore he's overrated as a money manager wealthy dude he's just a warren buffett wannabe he got bailed out in two thousand and eight two thousand and nine just like all those other crooks on wall street he's got no acme whatsoever he's got a bunch of oil wealth he buys strategic positions of big companies big frickin bill but he talks like an idiot and now he's paying the price for to six that toshi well

beyond that actually i think it's quite interesting because we've been here in washington d.c. and we don't usually watch the nightly news but we have because we've been in a hotel and turned it on and it's not even on the news here none of this is on the news which seems remarkable but the fact that like dozens of these princes and royal family members are under house arrest under its arrest. at least two princes have been killed in bizarre one a helicopter crash the other in some sort of shootout with the police they say i mean all of this is allegedly but it's so bizarre that is not being covered on the nightly news even though it's allegedly such a close ally of america and quite important to not only the oil markets but the entire middle east. then we have the situation where the likes of the guardian in the u.k. are bizarrely pushing all these weird things that this is somehow the great

reformist the new crown prince is arresting all these people and throwing people out of helicopters and having gun fights with other princes because of some sort of anti-corruption drive which seems really bizarre to witness the absolute shut down in the media of covering this i don't know why but they are choosing not to cover it love if you're a saudi prince and you buy the top seven floors of the dorchester every year for you and your entourage of fifty or sixty or so then you're a reformist when you're out there you know killing folks and doing a massive power grab and mucking about in the world markets if however you're just an emerging economy that's trying to make good on trade deals and grow from two hundred billion to one and a half trillion to five trillion dollars you're out there in eurasia good relations with europe good relations with china good relations the red and you know you have cyrillic in your alphabet and you've got

a good hockey playing leader then somehow you're a bad guy because you're not down you know by seven floors the dorchester on a weekend for your whole entourage of fifty flying with a helicopter and spending maharani time money you know it's a total duplicitous nightmare and all we want to do is an overrated puts ok well let's go back to him because this is this is when i was looking at some of the coverage of. prince all you've been tell all so he's the one of the grandsons the many dozens and dozens of grandsons are like five thousand princes he's a grandson again and condoms over there what's wrong with these people the founder of saudi arabia so here's a headline i read over the weekend and it comes to this paragraph which is so shocking and yet the fact is shocking in that what is an acceptable author terry and what is an acceptable dictator. what is an acceptable sort of way to rule a country to some segments of the press here and yet not to others so listen to

this paragraph about who this guy is who is our lead been told all the absurdly rich prince at the center of the saudi corruption purge as i said he was born in one thousand fifty five grandson of the first king of saudi arabia his holdings in twitter lift your disney and twentieth century fox luxury hotels across the world a tower under construction in saudi arabia that will soon be the world's tallest building or his opulent palace where business insider once reported the prince kept a quote group of dancing laughing joking dwarfs and his entourage occasionally tossing them around a sport like human shop puts. this like what like he goes on all the media here and is hailed as some like warren buffett he's just a fiddle wing fiddle player sort of the cute guy from saudi arabia he's a warren buffett of saudi arabia and apparently they can also say he's like has he

. these are door yeah these are two off which is not politically correct well you know it goes back to the financial crisis two thousand and nine remember people were searching for ways to grow their economy and it was in florida that they made legal again dwarf tossing it had been illegal yes probably where he got the idea yet i don't know how far to much on this point the point is that you know the duplicity of the sort of principles applied to certain countries if depends on who is flowing the cash to you here saudi arabia you know they've they've suffered dearly under the price of oil collapsing they have a very hungry population because they don't get to you know they have seven thousand princes to support tens of millions of ordinary citizens to support as well they did have to borrow something like one hundred billion dollars last year on the international bond markets yes thirty three billion dollars could pay off a third of it at least also on this article about prince ali they also do say because here's a guy who took on president trying

a lot of the conspiracy theorists from like the likes of m s n b c in new york times here in the united states what they're saying is that somehow donald trump had something to do with the arrest of princess will lead them to law because he had insulted the president on twitter and here they say in the article talking to locals in saudi arabia will lead is the donald trump of saudi arabia an expert on the saudi royal household forbes last year he may be a symbol of success for some saudis but many others view him as being way too gardy so well he's a vulgar little garin like the trump ask. but you know trump is a time of a hard scrabble guy from queens who took on the establishment in manhattan and he had to fight his way up sometimes getting penalized two or three shots on the back nine it was just a country club to make his billions this guy was born with a silver camel in his mouth and he grew up to be even more outrageously. overly

priced as part of the petro dollar arrangement from one nine hundred seventy one where america decided to annoyance these saudi people with hundreds of billions trillions of dollars worth of money in exchange for the oil that was the quid pro quo that is now the architecture of the global economy and gave us as a corollary to this one hobby ism that was the that was the trade off to say we'll do the dollar oil petrodollar but you've got to accept wahhabi ism and then when things start afresh a they sent a little hello no to loved zero nine eleven saying remember us we're your partners and they've been keeping america out of their boot and now trump comes in and says you know what this is really do things a little bit here and he said the green lit this could do in saudi arabia is actually now the whole thing's being re architected as it should be yeah because he did donald trump did tweet right before this all happened that he would like the saudi aramco i.p.o. the other joint you know they touched your you saw the photo they touched your that

was the green light to let the coup go well so he was pitching for businesses all business at the end of the day because remember the united kingdom was also selling vast quantities of side of fighter jets and weapons to saudi arabia that they were dropping on yemen and hoping in exchange that they would get the i.p.o. the business for saudi aramco. and now apparently the united states has thrown their hat in the ring so it's all business at the end of the day but it's interesting to watch again the fact that the mainstream media here doesn't seem to know how to cover it yet because they're just not covering it. they don't know how to cover it yet because it distorts their parallax view of the world centers around the in tractable evilness of russia look there is a third rail in the region that if anyone puts their foot on to the third rail they're going to be fried quicker than you can say you know harvey weinstein in the bathroom and that would be a rant if anyone decides to actually pick a fight with iran you know prepared to meet i make or there's been waiting for war

for twenty years they've been but they think they've got an incredible ability to take on these joe out of the middle east you know that that would be the absolute suicide mission well it is shia and the sunni to decide hey let's go at it told to go ok trump brings out on that and he he was sick well and bring i went to saudi arabia has way more advanced military so it's you know we have they have all the best weapons from the united kingdom and the united states however who are our however allies however it doesn't you know i don't i'm not picking a side or anything like that that's beyond it but the fact is that the media has been pushing for a war they want to war and maybe they're going to get the war that they don't want because we still are you know we're still we're still in afghanistan we can't even control afghanistan and all they had were sticks and stones they don't have any weapons and we still can't control that country we still can't control iraq we can still we still like libya is

a disaster zone so why we went on up another disaster zone i don't know but that seems to be what is happening and it looks like now saudi arabia this new crown prince is now the largest shareholder of twitter but it'll be good for the oil market exactly a well oiled oils are ready telegraphing this huge move oh it goes all the prices though those rolls a blast well stay tuned for the second half a lot more. i don't think the people are. suffering always. i mean from one come to the seventy one or the seventy percent is coming from an idea i think that we have to see that we have to discuss how to improve our capacity to alleviate that the human being to.

politics that's what many are saying out of the d.n.c. is acting chair donna brazil claims bernie sanders was cheated in the primary but the rigging goes further the g.o.p. establishment didn't embrace trump then or now party's war with themselves. already howdy welcome back to the kaiser part time to continue our discussion with dr michael hudson author all around nice guy is it you would you consider yourself a new yorker dr michael hansen absolutely not i've never felt comfortable in new york i was born in minneapolis and my father got out of jail we moved to chicago and i grew up there well oh whoa whoa whoa when your father got out of jail what he

was one of the minneapolis seventeen sent up the day before pearl harbor for advocating the advocacy of the overthrow the government by force and violence which meant that he was organizing the teamsters union and the roosevelt administration made a deal with dan tobin to turn the teamsters union over to the mob and apparently there was a deal with the russians that if they get the government would throw the minneapolis trotskyist and jail in minneapolis was the only city in the world where being a draft guest was a career advancement opportunity that they promised not to have strikes during world war two so that the stalinist sort calling for the death penalty against the smith act that later was used against them after world war i world war two so any right my father was one of the many after seventeen and then we moved to chicago i love chicago i still think of that is my basic city and when i think of which direction i am i mean i still act as if the hudson river is like michigan and

except that that's on the west instead of the east so i'm always talking we were just in minneapolis and i did a little reading up on the city so it is on the top of the the the the river there they use the spaces of the river is at the very top and it made his bones on processing mill milling flour it all and they created bleached flour which then they ran into trouble with the bleach flour they were it was determined scientifically that bleach flour was no good for you and that people came in with a full nd. did the flower with the full. not the whole grain the whole grain flour and so so what what was the labor conditions like at the time because obviously that story plays into right to mean minneapolis was the center of labor history in the one nine hundred thirty s. ok you had a general strike there and one hundred thirty four one hundred thirty six there's a book about that charles rumford walker's american city the describes that you had the whole general strike and that was that became as i said the only trotskyist

city in the world so this isn't a depression it's actually yes and he had a blow up in the twenty nine crash and you quickly entered into the depression and trotskyists and communists and other forms of governments and economics other than capitalism were in the ascent because it was considered they wall street was a collapse of the capitalist ideal so you had these competing. school suddenly in america and it gave rise to art an anti-communist we saw mccarthy in the fifty's as really a holdover from that period correct and we saw. a reagan was also out of that school of fighting the communists you know he built a huge political career on it but from the from there we see is where. you have the and then this labor. was was there much of all morgan i's labor in america before then of course in the night late nineteenth century and eugene debs the

socialists you had at the center of labor organization was in the midwest because that's where the manufacturing was it happened in minneapolis because it's not very populated the truckers were the big industry there there was a lot of violence you had floyd b. olson who was the governor who said he hoped the capital system goes right to hell and so he was reelected as governor it was all destroyed when the right. kamen led by hubert humphrey on the far right right that's exactly right now is his task to the presidency i guess right to show that he was a good double cross or he was sort of an early obama type speak left and then slam down with a very hard on the right right so this is fascinating piece of american history so so many apple asus is an under told story i would say people are familiar with chicago and what happened in the thirty's obviously organized crime people are know

the history of organized labor and the new york and the longshoremen and of course as long as labor then became corrupt in a big it was infiltrated by the mafia essentially that was largely roosevelt's doing and it was done because of his fight against the teamsters in minneapolis right he wanted it the only alternative to having the socialists organize the libyans was to have the mafia organize a labor unions by saying if you're you're the head of the labor unions you get to say who's hired you get the kickbacks you get everything that fitch wrote about in his study of the labor movement so it's very much like in japan when america back. against the socialist japan had a very strong socialist movement mcarthur came in backed all of the most right wing japanese militarists japanese and the gangs the gangs to fight against socialists and that's why you have japan in the story state that it ended

a when it comes to industrial on the state and the steel mills. so it's an interesting areas of focus you know the thirty's and seemingly in minneapolis i mean there's organized labor before but then it became a threat in a big way because the capital system was collapsing i mean i guess before that it was more of an adjunct to deal role economy where ok we're going to organize labor labor you know they invented the weekend for example organized labor without their organized labor we'd have no weekend and we have no hollywood. and the entertainment industry had no theme parks you know had no vacations you know they it's a huge part of the economy america was invented in effect by labor and then when the thirty's post crash you know it really became it became more politicized in that sense so did did the organ labor organize at that point were they always referring back to. a leninist marxist reference no no not at any point remember minneapolis is very largely scandinavian so you had

a lot of scandinavians there. in new york you'd have basically central europeans and druze organizing. the garment trades and the labor unions but in minneapolis you had a completely different ethnicity with a different national background and they had a kind of scandinavian sense of fair play my father said that who graduated from the university of minnesota with an m.b.a. he said it was the rover boys stories that gave him a sense of fair play and you know that the rover boy being the american boy stories of the early one nine hundred three sure algeria that place and that is our second later on the no that oh at that same idea of everybody being fair and kind of how little kids would play with the german rockwell depiction of america the stone honest so well you know was a stalinist yes what yes i didn't know that that he was one of their funders.

that's the only learning things here today that are shocking what so anyway to get back to the narrative here so it is thirty so what was there an individual a person where labor in america suddenly did start to overly reference marxist leninist doctrine. not really except your dad you know when i was even my father when i was a little kid i would my father would take me over to the houses of a lot of leaders including people who were on the central committee of the common turn when lenin was in power and being a little out of maybe eight or nine years old not always look at the library and they always had a marxist capital in the library and i'd always go and look at you know open it up and nobody had ever read a single they'd never been opened before especially volumes two and three had never been opened one maybe but not volumes two and three so the fact is they had them on the shelves but they didn't rate it so now you know your career took you through

wall street you were a credit analyst for chase manhattan bank just about all of who else was going to be a an economist on wall street except a marxist i will tell you more law would you say such as you know that it's all about exploitation and if you go to a business school and you think everything's fair and you don't understand that it's exploitation and crooks and you know how the system works the marxist being outsiders we could look at the system and of course we were the forward planners in the futurist because we were looking at how society would change and the business schools would tell people is not going to be any change everything's going to go just the way it is that's what we call equilibrium and we marxists are always looking at this equilibrium so we could of course forecast all of us have credit in terms of how effectively it could be extractive i was saying how much could be extracted and at what point will the break come and that certainly all volume three of capital that credit. marx pointed out interest bearing debt grows exponentially

but the economy only grows on the next curve and tapers off so every economy creates debt faster than the ability to pay and that through the break so i have so far says is a quintessential critic of capitalism yes it out of our studies very call this book capital right so and so as a philosophy it's not really presenting a political construct although many have chosen to use it as such he looked at the laws of motion so it's not a construct is a single building it's the law of motion that's the reservoir of the flow out of communist countries gone wrong because you know they've people have tried to adopt the systems i were the antithesis of capitalism or the difference in capitalism so far we haven't seen much success many succeed what's what's going wrong there well right after when and stalin killed everybody who'd read marx oh ok so they.

think you know since the one thousand twenties russia has known nothing knew nothing about marxism and it was the. hall that. specialized in other countries other hemispheres and other places of marxism in a way. really think so i mean certainly. socialism is a step towards that in there i mean so everybody thinking wrong another was my question as what would if you were starting a country to what or convert america to a different system because obviously the system now is attractive it's compound of the debt ad infinitum and it's causing a huge loss of income gaps and it's not working in many different ways and so if you were to come back and you're a marxist scholar effectively you know what would what would be a couple of the points to that would build a sustainable economy that what is stifling the economy today is finance and it's the growth of debt and it's the inability of debt to pay that is leading to a huge transfer of property which would. let's say the m.g.m.

sorry modern terry thing monetary siri which is a solution in your book yes but i go beyond most of the m.m. tears because i divide the private sector into the fire sector the finance insurance and real estate is opposed to the industrial. just describe m.m.j. . and that's a huge out of the school in kansas city is you find the m.m.t. people like yourself bill black i think is there yet marshall auerbach marshall all marxists and he said the bard was a lot of the moment let me into this i was talking about it stephanie stephanie kelton she's in this all so in thirty seconds kind of break it down for us what it is that banks or the government create money simply electronically it's not a thing money is debt and the way that you create money in the economy is create debt by one party to another if the government spends money into the economy it's been said directly on infrastructure and hiring goods and services hiring labor to

produce something that i know mcchrystal may not like a central bank that lends it to the government it could pay the treasury the interest centrally the treasury used to be the central bank the federal reserve broke the treasury off to put money creation in the hands of wall syria or that. put put the treasury in control once again write the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money creation is different purpose for from private bank money is going to leave it there dr michael hudson thank you. alan us an idea for this edition of the kaiser report with me max kaiser stacy and i thank our guest dr michael hudson if you want to reach us on twitter it's kaiser report and flex time. while.

most people think just stand out in this business you need to be the first one on top of the story or the person with the loudest voice of the biggest raid in truth to stand down and lose business you just need to ask the right questions and demand the right answer. question.

welcome to worlds apart divest scope of international crises has created a situation in which humanitarian commitments increasingly look more like you told me and ideals and legal obligations faced with meager budgets and the need to help more and more people it's easier to just look the other way or push the problem to a neighbor what does it take not too well to discuss that i'm now joined by francesca rocket the newly elected president of the international federation of the red cross and red crescent societies well mr olcott thank you very much for your time and congratulations on the election thank you thank you very much it's probably the worst time to be in charge of the i.f.r. c given both the a growing scope of humanitarian needs and the man's challenge of

securing the funding to meet them why would you even want these kind of job but let me clarify for us all that this is not our job i. don't care paul star and i am a volunteer i'm not paid for my position i've been a volunteer and in my national society for many this is a is a passion for sure for humanity tried to.