volatility they can jack up interest rates and the point being that modern warfare has jumped over the boundaries of the physical world and just as a corollary to this are seeing this also in bitcoin there's an interloper a rogue coin called big cash and they're using the same manipulative techniques that we're seeing these states use to try and undermine coin itself which is to be totally expected and the financial futures contract in the c.m.e. for because it's coming very shortly but this is not unpredictable they have a group of rogue crypto enthusiasm are attacking bitcoin using a fake one called big cash which is a fake coin well those are individuals or groups of investors those are groups of hedge funds private equity and this article mentions that private equity has done this sort of deal here this is on a nation state level this is the united arab emirates this was presented a plan was presented to them by a very politically connected bank in the u.k.

to target another nation economically and using financial manipulation and market manipulation so it's on the first public i mean i think it has happened on the nation state level before but this is the first one that has been revealed i'll tell you first about the bank the outline prepared by bank how the law and a private luxembourg based bank owned by the family of controversial british financier david rowland laid out a scheme to drive down the value of cutter's bonds and increase the cost of insuring them with the ultimate goal of creating a currency crisis that would drain the country's cash reserve somewhere in the outline that they presented to the u.a.e. they said control the curve decide the future so the plan was that the united arab emirates would buy credit default swaps insurance on the bonds of cutter crashing they would preserve the outline for the banks as pretend to be friendly to them pretend. publicly to the press when you get the press to talk about this

potentially you're concerned about qatar and what's happening but then the plan then calls for it so once you have the credit default swaps then you start shorting the bonds. how do you create the illusion that there's a mass selling of bonds by being both the buyer and the seller so many people in the financial and alice world so in the silver market for example when talking about the silver market they said there's no such thing as manipulation because for every buyer there's a seller for every seller there's a buyer so here is what this bank very politically connected bank said to the u.a.e. the plan then calls for precipitating a run on the debt of cutter through a series of sham transactions to drive down the price of cutters bonds a manipulation technique known as painting the tape where players swap instruments back and forth to create the false appearance of a high volume of trees the hope is to get other traders who aren't in on the plan to see the high volume on the tape the market ticker and think that since volume is

high in a period of political turmoil something important must be happening prompting them to sell the sales of the technique plan would drive the price of the bonds down creating more panic more soundly according to the plan the u.a.e. having bought credit default swaps against debt will see the value of that insurance rise as qatari debt tanked right that was trading as also known or painting the tape as another variation on this and i'm just quickly mention yes that's exactly what was going cash recently a lot of washed writing to manipulate the price but in this case as you point out this is a state being lobbied by a bank to commit financial terror on another state in an effort to manage the yield curve now why that's important is because all countries now are in debt much more than they have any equity and so they're not looking to let's say seize property seize assets or overthrow a government so much as they want to manipulate the yield curve as a says right there they want to raise the cost of borrowing to the point where the

country in this case goes bankrupt and they can do that by having access to virtually unlimited supply of financial derivatives products targeting that country and forcing the old curve to trade through market manipulation wash rating painting the tank and putting the country into crisis and this is the hallmark of our image of debt you know back to even fifty years ago in the middle east people thought of that countries. as an oil and gas center but that's no longer the case of qatar or saudi arabia they're not oil and gas they're their debt they're in massive debt they can't pay their debt it's a debt holding entity which happens a side business in energy well actually the article points out that the problem for the plan why it was stupid is that cutter does have hundreds and hundreds of billions of dollars cash so the notion they don't have debt they have cash they

have so much cash because it's only a population like ten thousand people and they have all their one of the largest reserves of natural gas in the world so they have a lot of cash they hope was that because their currency is pegged to the dollar that it would be like that film role over a sort of situation which was set during the time when the u.s. dollar was pegged to the gold that you could cause a currency crisis well they weren't able to have a currency crisis because they have so much cash that they could sustain the peg but here the important part to what you see going on around the world in the past few years is this third element of the plan laid out by the bank to the u.a.e. the third stage of the plan would be to ramp up the p.r. machine in order to slam cutter internationally pointing to its weakening financial situation focus on the prospect of restricted access to u.s. dollar and now doubtful stability of the country the plan reads and continue to increase positions in other words keep the market cornered and feed fears about

falling prices with manufactured bad news we cover that when the ruble crisis was happening two years ago when the ruble fell like sixty percent once the currency peg was polled once the ruble was allowed to float freely on the markets remember what you saw on newsnight b.b.c. almost every single night for night after night was like the concern about whether or not russia would go. grubs and just like this cutter story is like the problem for that concern trolling yeah it's ok to do it once but they keep on doing it and doing into it but they never had anybody point out that well the problem is that they have all this cash and they don't have any foreign bets the same with cutter they didn't have foreign debts they had all this cash so this plan was deranged it was truly deranged like it wasn't going to make any sense but you did see in a previous incarnation you saw the third stage that they were going to get you know

the press to concern troll about cutter that you didn't see that when it was against you do you see it with venezuela venezuela however is has a lot of foreign that and has a currency crisis because of their they're still trying to maintain a peg were able to your point about them having a lot of cash that's great you know but if you're using the cash to defend the currency at some point you run out of cash but this plan sounded like it was dead on arrival because the cash hoard versus their ability to manipulate that market to unstable condition was incompatible with their desire to basically overthrow the country using financial weapons of mass destruction as warren buffett himself called them you know there has been an economic blockade on cutter since this plan was concocted and that has kind of worked the cost of insuring qatari debt has risen some seventy percent since may the stock market is down twenty four percent this year and heels are rising ahead of a bond offering to be made at the end of the year ahead of that the country

abruptly changed how it calculates how much foreign currency reserves it has so now they're saying they have doubled the foreign currency reserves so there has been pressure on it but again the point is. now that this plan is spent exposed to the press obviously you're not going to get the b.b.c. newsnight to be able to concern troll whether or not cutter could look at this but it was all about getting the world cup transfer in the u.a.e. yeah it's all about them balls soccer balls football but you know we pressed this for years to make the market aware of the potential for financial weapons of mass destruction and financial terrorism and coups using finance in this way so i would like to take some credit for seeing the market with us and from any way we got it out of second hand don't go away stay right there.

seems wrong. but old people just don't hold. any. yet to see how it does this kind of activity. and in detroit because betrayal. when so many find themselves worlds apart we choose to look for common ground.

but politicians do something to. put themselves on the line. to get accepted or rejected. so when you want to be president. or some want to. have to go right to be press it's like before three in the morning can't be good. i'm interested always in the waters in the. question. it's the cradle of jazz. this is the america is the america we have been good knows this jazz feel. a city of climatic contest a phase of alligators on the loose of poverty and crime are used by the at least twelve members a mob family close most murders of street racing in the peace of the night this is new orleans. stuff

a man who was the best place in the word. really good look up. her up. on to something everyone we were not certain everyone we were not hurt locker. welcome back to the kaiser report imax keyser time now to return to our conversation with max blumenthal he's the senior editor at alter net gray zone

project co-host of moderate rebels with ben norton burn a bunch of books is an actual journalist investigative journalist he's on the front line to do it stuff you're not just having an opinion and crying on t.v. like most of what we see today including myself ok so let's return to our conversation max blumenthal and. first of all it can you identify a left right so what what does the left what is it like i'm so confused what is the left about these days what is it pushing for what is the left wing american political class talking about what other issues well it makes me want to go cry on t.v. i think about it i mean what's defined as left is anything that is to the left of the republican party and so when you talk about left media they're talking about things like vox or ross story you know what i consider the left right now

has really emerged as sort of an openly socialist contingency that is opposed to american empire and that you know kind of spaces that's been created through bernie sanders candidacy has expanded massively and continues you know expanding the parameters of debate and shaping the contours of discussion but it's completely frozen out in so many ways i mean we've got to answer saying american socialism is that ok that's a phrase that's that was so talked about that a little bit what is i mean well i mean bernie sanders obviously depicted a certain amount of this he's a socialist bernie sanders that's his party's so so that that that you feel is embodies a left wing ethos at this time yeah and really at this time it is an ethos i mean you see very little policy very few policy proposals or workable way. to actually enact this and implement a socialist agenda so i mean it's really in an embryonic phase you're talking about nationalizing industry you're talking about ending corporate free trade and

bringing jobs back home putting massive public resources into you know training workers and bringing. health care and a universal living wage to the american public i mean these are basic core principles but you see everyone from you know the party for socialism in liberation to democratic socialist for america pushing for these core policies and they're even marching with union members and even working to some degree with you know the working families party and other parties that work within the democratic party so you have this constellation of groups and i think they're at an embryonic phase right now we're in a new generation where a majority of millennial or at least a plurality actually supports socialism if not outright communism and that you know is going to mean a generational shift in politics in twenty years prolly this generation millennial is are rejecting capitalism and they're bracing they believe is socialism and

so those arguing in this case would say well socialism you know is is not doing well in some countries venezuela for example and this it's having a tough time finding its footing over historically so is there an american socialism is there is there a version of this because i mean i could point to something like open source protocol free software like a linux is a form of socialism you have a collective they're all benefiting from their contributions to the collective and it's decentralized and as if it an artistic but then this is a form of socialism that i think is it is american in that regard it does that play into this at all in your view you know that the way that. you know even with like a bit coin for example is a distributed network protocol it takes on the central banks it's closer to socialism than it is to capitalism is morse so toshi not so frickin socialist

compared to alan greenspan right this does that play is that come into your view of things at all i mean i've heard different arguments for bitcoin princella leads as it's like the new enron what we already established that he's a he isn't as well compensated now isn't it oh so he said if there's no central government there's also a bank so how could how good could it be and now he's facing jail have his wealth confiscation but is part of this socialism this american socialism really kind of go on a tangent here but just go picking your head of it there's a certain american tradition of self-reliance and anarchy if you will going back to thorough you know and going back to the well whitman and you know that's a very american way of thinking and it's not hard core you know it is a it's different form of thinking that we haven't seen represented in the daily discourse anymore does that factor into american socialism at all or your thoughts let me just clarify one thing which is that i am not the post-modern eugene v.

debs sitting here basically what you introduce me as which is a journalist with a critique i have my opinions i'm not a socialist leader and i'm trying to give you a sense of what i think the left is like in the us. when you really talk about the d d sympathy for socialism is not the hour right advocacy for it among young people under thirty five you have to just address the situation that they've been placed in after decades and decades of deregulation of libertarian style economics and they're not in a very good situation by and large most many of them are just in deep debt for the rest of their lives there aren't a lot of good jobs out there they don't really see themselves driving the labor twelve hours a day is a really good option and. they're sympathetic to the kind of messaging that we heard emanate from the bernie sanders campaign and that's actually even being sharpened in a more radical way by groups that are doing really impressive organizing around the

country like the party for socialism in liberation i mean their ranks are growing the ranks of the d.s.a. are growing and it's really because of the actual real life situation that young people see in this country and i mean we're done where when when you talk about people really getting involved in the resistance this kind of centrist movement a lot of these people have a lot of skin in the game and they feel they actually feel threatened because in many ways they've benefited from empire they're doing very well living in one of the coastal cities but the people who aren't doing that well well they're either looking for alternatives or they've totally dropped out and that's why you see also record numbers of people simply not voting you know when you're spend time battling the influences of extreme right wing warmongering ultra capitalist forces that are tearing the country tearing the economy part that's obvious if cappy many capitalists are complaining that this system is eating itself and in

a way that's completely unsustainable so you you're on the front line fighting that so how do you develop a constituency of how do you reach out to this what's the message to this generation let's call it like what are they how are they going to rally around what what point have to have how do they coalesce what because it's got to be something that the peeling it just can't be you know we got to take in this is just an insurrection i mean is are we heading toward an insurrection where ultimately the social contract completely broken and the whole generation just stands up and says we're just going to seize power and we're going and that's that is that where we're going to see the seeds of that happening i think that's what we need to be building towards and in so many ways i think when you look at what liberal democracy has brought this country it's. it's brought it a system that's so easily for elites to manipulate for baxter's to manipulate and so first of all one of the issues one of the ways to reach out to a constituency bring people in who feel left out we actually saw this from trump

and not hillary clinton which is to have an actual incendiary critique of the system and the forces that are abusing people whether it's wall street or the war makers on the real sources of foreign influence like saudi arabia and the pro israel lobby that are taking us to war and exacting moral injury on the heartland where most of the troops come from we the neo cons there's no critique of them coming from washington so that's one way to win a constituency trump showed that to be true bernie sanders showed that to be true and hillary clinton showed the pitfalls of refusing to offer critique because it wouldn't be credible coming from someone like her who comes from that system but what can you do in practice you know i have personally been involved in the b.d.s. movement which is civil society movement that is operating on a global scale to boycott divest from an sanction israel it's been a very important movement in educating people about israeli apartheid in its had an

actual effect on moving israeli companies out of occupied territories but there's no candidate who embraces these issues right now so this is the flashpoint in the middle east for decades is what's happening israel palestine this is undeniably the the design that the the piece of the puzzle that's it without it being on a lock without that being solved there can be no kind of progress whatsoever in the region in that that is the key bit it never gets solved it never gets unlocked and this expansion into these occupied territories is a heinous stain on americans who don't seem to be bothered too much by it and it causes. obviously an incredible conflict in that area and you've been talking about this you take a lot of heat from on this on this topic but it seems like things are changing and when i grew up the story line was very. toward israel was you kind of believe the

the story that we were told without questioning whatsoever benevolent. force in the region for peace and you know on the shuttle and a commie and and then everything was fiddler on the roof i played ted it in my sixth grade production of fiddler on the roof i'm going to skip alien but. you know that this was in our in this era it's there is some serious questions being asked about what's going on there what the b.d.s. movement is. gaining any traction. i think a lot of people who grew up watching fiddler on the roof who are of my generation and who went to hebrew school or even went to yeshiva are actually disgusted by the vision that benjamin netanyahu has to offer and you see these groups like if not now which are comprised mostly of students who you know young people who went to

jewish day schools and things like that getting involved in anti occupation protest activity they did a huge protest here at the annual convention of apac the main arm of the pro israel lobby this years this is a follow this is a question if we have time for this question you know there's you hear this narrative for decades we're never going to forget we're never going to forget what happened and you know in looking back a story is never again i never get to anyone but us how did it happen you know the concept of never again is you know there's two different ways of looking at it what netanyahu offers is a segregationist narrative never again only to us and you know then there's the universalist narrative and you can look at it in any different you know set of ways and see that massive atrocities are happening to people. crossed the world and some of them are being carried out by those who are uttering the mantra never again and so it's that kind of moral hypocrisy that i've always tried to call out and i think

you know you're seeing a lot of the contradictions get exposed right now the mask is lifting in so many ways i mean you even have elie weisel the you know icon of holocaust theology being exposed for at least accused of sexual harassment as part of these this flood of allegations from harvey weinstein so i mean nobody nobody is able to maintain their moral sheen at this point i mean look at just look at what's happening in washington these past few weeks whether it's you know man afford being indicted for thirteen million dollars of money laundering off the books and then you have tony predestine leaving the pedestrian group because he had the same account and he is involved in the same corruption with the ukrainian government he hands over the reins to the deputy director of jeb bush's campaign you have this bipartisan swamp of corruption george h.w. bush gets accused of calling himself david cop a feel and you know groping women harvey weinstein the icon of liberal hollywood

who is hillary clinton's big bundler is possibly going to be prosecuted for rape anthony wiener went to jail yesterday i mean you look at this from brussels or beijing of what's happening in washington you're looking at sodom and gomorra and meanwhile we're preaching to the world about liberal democracy and the values of freedom it's ridiculous so i mean this is what the trump era has really brought out which is all of the internal contradictions of this country the mask is off and i think in many ways this will encourage or hasten the kind of insurrection that you mentioned i don't know what. you know i call it the global insurrection against banker occupation that all these flashpoints around the world are are part of that synergy out of the job because jumbo. feel free to use and i'll name my first son. thanks for being on thanks for having me i was going to do it for this edition of the kaiser importantly my skies are safe here but i think our guest max blumenthal

if you had to reach us on twitter it's kaiser reported the next time. it would be all. about. health. care. oh. yeah well this is all the. oh.

she'll be. still dependent miles from the independent will eat there for the day with. the placenta own up but we will meet today oh. it was the set of my love and respect let him get me or here now we have a hunk on the road. now at the paddock the. hell i got money for that matter. see to him to make their point i mean already in the measure how comforting because i gave up they had me as he still sees them now when i would.

apply for many clubs over the years so i know the game inside guides. the ball isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the superman each kill the narrowness and spend each image of the twenty million and one player. it's an experience like nothing else on here because i want to share what i think what i know about the beautiful game great so one more chance with. the base it's going to. i.

thought. it was. going on in humans only. does she don't consume don't tell you that means i can do it on jellyfish dealing with the saying that i'm the only person in that are equal who don't is my song and only that was a stance only going to change only because i don't. know him doing. that to those on the moon as the song is this is also the acid of all the sitting on. the.

front unions that lead a march through central paris raising the pressure on president micron over his controversial labor reforms. meanwhile the french president hosts a meeting with the lebanese prime minister whose surprise resignation announcement has raised fears of regional turmoil we discuss the developments with the country's foreign minister feel that stay with facing another ten creasing plates of chaos and instability which in turn lead to terrorism. also this hour key decisions are put on hold as german parties missed their deadline to form a governing coalition.