most who is the education secretary and the trumpet ministration well apparently he pitched a plan to strategically scam the american population and basically plunder afghanistan and thus exposing what the plan was all along private war erik prince has his eye on afghanistan's rare metals controversial private security tycoon erik prince has famously pitched an audacious plan to the trumpet ministration hire him to privatized the war in afghanistan using squads of security contractors now for the first time however buzz feed news is publishing that pitch a presentation that lays out how prince wanted to take over the war from the u.s. military and how he envisioned mining some of the most war torn provinces in afghanistan to help fund security operations and obtain strategic mineral resources for the u.s. once life for example shows that he believes that there's one trillion dollars worth of rare earth metals and things like lithium for batteries in just helmand

province and he wants to go get it he'll give the us government a cut and his private contractor says securities in his man his guys will go in there and and take it but you want to do a leveraged buyout of afghanistan he's pleasuring the collateral of the rare earths to fund his takeover of the country and to sell off the rare earths and to get a fee on the invasion now dick cheney pitch that the invasion of iraq would pay for itself from the revenues on the oil's yeah i think it was a mob chalabi. that's right and that turned out to be a sinkhole of multi-trillion dollar catastrophe and a human rights disaster i'm sure livio of korea hillary clinton was pitched in a similar way they were to get off the well get the energy resources or the leverage buyout of libya greece was totally destroyed as a quasi i leveraged buyout between hank paulson or john paulson has run manager and lloyd blankfein of goldman sachs to turn that country into some kind of. paradise

for hedge fund managers so an area financier's like in this case erik prince former you know assassin for hire turned heads one manager to go in and do a leveraged buyout of a country or a or or a company the results are encroaching all of awfully human rights catastrophe and no accountability this will be a disaster will get rich they'll be a lot of deaths a lot of murders a lot of disease and that will be written off and never talked about well there are new technologies that can basically offer the afghan people themselves access to that mineral wealth and that is something like an initial coin offering this is just right now before erik prince can sell this because he is still in d.c. pitching this to all sorts of lawmakers trying to get him to go in there his private army to steal their resources well why don't they just like float and say hey you know here's our initial talk calling offering you could have a cut of our one trillion dollars in helmand helmand coin you know they should offer it's worth

a trillion dollars they'll take five hundred billion you come in come extract it. if they can immediately access that that the global financial crypto markets are desperate for investment opportunity if we push this virus far fokus yes it was banking finance minister of greece and we told them to go to bitcoin make bitcoin we talked about this you know say you actually but greece only had debt these guys have no debt zero debt from afghanistan and they've got thousands and trillions of dollars of resort as well as going to offer the petro which was going to be a crypto coin backed by naturally as you talked about in the previous episode with our guest from cuba but now i want to talk about this like what he's modeling this on this is quick. speaking of imperial member i said these imperial nations you always see a shrinking of the wealth at home and x. as the footprint has to expand overseas and more and more is dedicated to keeping the edge of empire alive and people like. erik prince very wealthy so prince

briefed the top trump administration official directly talked up his plan publicly on the d.c. circuit and published op eds about it he patterned the strategy he is pitching on the historical model of the old british east india company which had its own army and colonized much of britain's empire and india quote an east india company approach he wrote in the wall street journal will use cheaper private solutions to fill the gaps that plague the afghan security forces including reliable logistics and aviation support you know you go to the wall street journal you go to bloomberg or you go to financial times and you see all of this stuff openly discussed the never gets the sauce on the shrieky cable news which is pushing hoax after hoax after hoax about very are social issues whereas the empire is being divided up and cut and chopped all the wealth stolen around the world in the only in the pages of the financial press you know well of course the east india company was

a colossal failure and bubble the first could be the south sea bubble as well that the so am i confusing with a little bit here you know but it isn't a company was very very successful and. i think it was successful and was it was always a success this is a show about modern day and i'm just comparing erik prince that he is modeling this on a imperial previous empire how the east india company helped with their private armies to expand the british empire the british empire for sure has collapsed that is gone you can say that for sure that you got that right here we have an american empire on the verge of collapse and here we have a guy erik prince who's connected to the political powers that be who wants to expand well who plunder the rest of the nation while the u.s. still ok ok so so in the us either the british empire in east india company versus the american them. in eric prince's yes neo east india company whatever he's

calling it and just any company yes yes he wants to do it through his chinese registered company as you do here because he knows which is the next empire this is him transitioning to the next empire i think i don't know if he's even allowed to set foot here but one surprising element is the commercial promises prince of visions that the us will get access to afghanistan's rich deposits of minerals such as lithium used in batteries uranium magna site and where earth elements critical metals use some high tech from defense electronics one slide estimates the value of mineral deposits and helmand province alone at one trillion dollars and he does mention actually even though he's doing it through he's proposing this anyway through his chinese register company is that the chinese manipulate the rare earth elements market so that giving out the u.s. as well mean there's a lot of rare earths on asteroids when i put erik prince on a rocket strapped into their rocket and blasted off and outer space you know see i think it would be anyway we got to go to the break don't go away much more coming

your way. just by accident i discovered about the struggles. that was a moment where isis targets the body looked like it was about to be destroyed and as someone who put themselves on a kiss here are some people struggling full on the kist ideology if i didn't somebody with the skill with the ability to go and help those people in the existential struggle in a moment of need then my whole life ought not be a hypocrite. when you're on the screen. if some. it would have been told me because i'm going to

spend my life to plan committees i'll talk to story closer to the sultan was clearly seen. every night over we were attacked by the arabs oh no we will attacking them and we will extremely shocked. saying but that's not possible i'll meet those moved in such scenes and then the soldiers simply myself from the snippet of those books won't pull some of the house with all the clothes of war we've all gotten over they all are. really much second class citizens in the on call. it was like a lightning in my head that there is no way to be able to live together without tearing down the street mob of. a everybody i'm stephen ball. task hollywood guy the suspect every proud

american first of all i'm just george washington and r.v.'s to say this is my buddy max famous financial guru well just a little bit different i was going to line up the owner with no doubt with all the drama happening in our country i'm shooting the good have some fun beat every day americans comic books we start to bridge the gap this is the great american pill which.

welcome back to the guy's report on nice guys are time now to turn to martial all bach is the research associate at the levy institute martial law come back next thanks for having me again all right listen before we get into this deep you know ideological stuff i got to ask you about a tweet talking about the carolina hurricanes and the national hockey league oh yes or thoughts on this they should relocate to quebec city story all you hockey fans in raleigh i know there's not made it very many of you but that's my team now i know all of them when you're talking about reloading them to quebec i mean i'm just going into the hurricanes you and maybe five thousand other judging from the attendance levels at the games so while this is part of an expansion of the n.h.l. well no the whole reason why this came up is because seattle agreed to spend money were renovating its old arena so gary bettman came out last night in effect all but promised them an expansion franchise for a cool six hundred fifty million dollars so if you like the stanley cup this year why go through the beliefs limit on

a medal and of course you know that's mighty this their team has their year all right so we know you're all right let's talk about you know we're on recently and people started to ask about and say they're really into m.m.t. they want to know more about m.m.t. you're one of the preeminent m.m.t. people tell us about it more would describe myself more as a popularizer and probably again to regard to modern monitor theory that the people really behind it who have done all the heavy lifting are scholars like bill mitchell of the university of newcastle in australia stephanie kelton randy ray young cradle and of course war and most lawyer who's also got a prominent following on the twitter sphere so tell us a little bit about it just give us a primer on it i'm just going to sit back and let you talk a little bit about it as a people have a real interest in this there's a lot of different aspects to it but the main point that modern monetary theorists always make is that there is no inherent financing constraint when you. are a sovereign in your own currency and by that means you are the issue of your own currency you are not operating on an exchange rate standard of

a gold standard you're free to create as much money as is required to system with broader public purpose bits which is not to say as dick cheney did that deficits don't matter what it does mean is that the focus remains on the constraint of real resources so that if the government keeps spending willy nilly resources codified qualify that well i mean like if you've got a tight labor market you've got tight commodity markets and you keep spending money then of course you can get inflation that's your constraint but there's no necessary constraint on say you know the european union has this ability and growth pact with prodi rightly called the stupidity and growth pact with they say you can't run budget deficits more than three percent of g.d.p. or some grace was entered into the euro goldman sachs help them cook the books to get around that yeah but that all that there is no concrete there's no empirical basis at any level per say ok what's the who and the government the function of

this would fall to the treasury right that's correct that's not this well the look at the central banking treasury effectively have a unified function what happens is that you know the treasury spends the money into existence and the federal reserve as the central bank effectively acts as the scorekeeper and you know to is the guy the is the entity that actually punches in the the the digits on the keyboard you know that creates the money in the first place does the obviate the need for the central bank well it is. because i think your bank loans the money to the treasury effectively right wrist and that's where you end up with a problem because you've got to print money to pay the interest and we end up with a kind of explosion and well but it's like saying you know you have your mother and your father you know they both take on the parenting function they just take on different roles so that the central bank is privately owned and the federal well i've heard that argument before but it is a creature of congress it was created by congress could be revoked was not a wholesome be. east doesn't like that operate that is a different interest of all. privately held bank that is lending money at interest

that is not. i well i wouldn't disagree with you and frankly one of the reasons america staged the revolution was to get rid of the i way from the bank of england the bag of england and the course the limited the bank the united states at one point as well but but look even if you go rid of the federal reserve to more replaced with something else you're not going to eliminate corruption looks like you know in congress is in theory a public institution supporting acting in broader public purpose but i wouldn't say that what you've seen out of congress certainly in regards to this tax bill is ok you're saying that they would be proactive and in increasing or decreasing availability of money depending on restraints and constraints and taking a temperature of the economy whereas in the central bank of quezon they seem to only see one possible outcome and that is to keep rates as low as possible seemingly to kowtow to folks that are benefiting from these low rates like the

leveraged buyout people buying back their own shares people involved in all kinds of nefarious games that require low interest rates and they don't raise rates even though the signs are there to raise rates i would question whether there actually are signs you know raising rates i mean i think there are signs of deterioration in the credit market there's there are signs of. a slowdown in a lot of different areas so i'm not sure i would agree with that but the point is actually. here is would argue that the natural rate of interest is the euro because what happens is what when you flood the system full of reserve and eggs are really that pushes. prices down to interest rates down to zero and it's only if you have an active agent on the other side whether that be the central bank actually raising the discount rate or raising interest rates on hold on reserves or you actually can raise your talk about money velocity ok this is. the rate at which money goes from bank to bank to bank to bank to bank and in an expanding economy of course you have

a high money velocity and in a contract economy you see low money philosophy now sense the two thousand and eight crisis we see the central bank printing records amount of cash and it being hoarded on the balance sheets of banks that are technically insolvent they're not lending it out the money is more a bond it's dead because there are bad actors enabled by the central bank keeping the zombie banks afloat marshall you know that's a problem and so what it will have to do with that ok well let me just raise let me just finish in the interest rates are low now because there's no demand for credit it's like saying there's millions of small businesses in america and they don't want to grow they don't want to hire people there's no a-q. nomic growth and they do what they want to borrow money but they're not being able to borrow money because the banks are hoarding it on their sheets to keep their is it all the balance sheets afloat well first of all they don't lend the reserves i mean reserves are there for settlement purposes in the interbank market and also with the the oath that way but but look lending itself is. to

a contract between lender and board so you want to have a board or who's actually rising income and this. is gainfully employed but it takes one to know you went away with the banks don't but then to limit reserves but their balance sheets are backed by reserves in other words they lend money but they don't you know you risks they're playing games with through the primary dealers or with the central banks. exposure to these loans to zero they don't take any fricken risks so they have as a relationship with the what the central bank they're they're not directly loaning out reserves but they have a direct connection to the banks and that's a dead system they're keeping the zombie banks alive and in two years have. things to say about that as well generally speaking if you read the works of people like bill mitchell for example he he argues that the best thing would be to have a. narrow banking model where you fixedly preserve the usual. you know it's not it's not out there making bets like the right reserve is leverage sixty to one

yes that's going to zero percent interest rates for m.m.j. treasury function is just trading getting back to this idea of money as a utility they're just what they're going to get out there is zero percent because they're not trying to scam on the rate spread they're just making it either available or not available right and the way they also would argue that the optimal way to control demand is why fiscal policy rather than through interest rates because interest rates are a you know i always say it's like using a meat cleaver to conduct surgery you know interest rates have a variable effect because for every person that's hurt by rising interest rates there's a saver who might be helped by it so it doesn't have the same exactly why deal from savers to speculators so for example when you had this housing bubble in the in the in the early two thousand well actually it started well below before that but if you actually introduced you know real estate taxes that could slow down and you wouldn't need to use the interest rate weapon that's just one example ok who determines whether the economy should be injected with cash or not you're looking at a matrix of data you talked about wages talking about inflation all those parameters

have been bastardized and distorted over the years because the government wants one recognize inflation so they do have donek adjustments to the c.p.i. and other you know years to make it look like there is no inflation because i don't want to pay out any and the kind of cost of living adjustments and these other inflows i already what who in government would actually get be in charge of the data in a real way then the national data services who are you know but you know the actual data there are many ways to measure the data and the broader you get on the employment measures for example the more accurate gauge you get for the economy you're obviously basing your remarks on on certain data points you have seen prevail out of the labor just as right garbage no i think actually the b.l.s. . they produced very very good work you know they can employ rates going down but the number of people that are unemployed keeps going up is like ninety five million people well you know well employment that are not working and i never had that statistic is. employment is a big problem and of course what you're talking about is the the number of people

that are actually employed you know so yeah you're right but that's again based on data that's out there for people to see so it's you know it's really hardly any pick the garbage data well the government doesn't want to do that well because it's just ingenuous of course they are but you're asking me to you're not going to imply that the theory is responsible for the cherry picking of the garbage you know that's that's what you know that's like no i think this that i really know that there is fine in terms of let's look at the money supply and let's treat it as a utility and let's keep interest rates at zero and before the central bank in america before nine hundred thirteen is not the way kind of the way you write what you want a gold standard then as well and the gold standard ok so the gold standard let's talk about that because that is not in the m.m.t. world they don't like the gold standard right they do not like any constraint which impinges on the ability of the government to act in a sovereign capacity is the way they would they would phrase it ok and the gold standard does know it had to say throughout the night he said he or like you also

heard about the constraint of those standard versus the artificial constraints that you're putting together a nonsense we're going to that's one of the id academics in the think tanks and the first and how well they infiltrate into the government they push their you are really you're wrong about the carolina hurricanes you know this is a pattern marshall well we don't we'll will disagree on that but on the on the other points yeah you're right economists often have a political agenda ok. and economics is a social science and many of the biases that people have in regard to the policy outcomes they want are informed by their politics which is why you have the often cherry picking at data or using discredited economic theories because you know like someone like greg mankiw has still has books to say to two women gold and gold as it is so much gold here's the gold here's the constraint now we have to work underneath that constraint why not just go with the real constraint instead of relying us on come up with an artificial construct is exactly what m. and t. want and in two years want to do work on. it will work on the basis of conducting policy on the basis of real constraints rather than artificial gold it's like

a real constraint you know why do you want to do it on gold because it doesn't work for one hundred years. in what way to work you had five depressions in the nineteenth century you had the great depression the one nine hundred thirty s. in what way to gold i gather it's all globalization was built on the gold standard and the gold. of the policies between intercountry policies on the gold standard you had one hundred years of growth about tonight up until the early twentieth century you had five depressions in the nineteen how long were they that of the day but you know he wound oppression you know it's like living it wasn't without oppression is like a false ism without help i mean you're going to have a kid the casual pull back that's the way capitalism works you want for market capitalism or you want like diapers social. well look i don't disagree that you can have you're going to have depressions or recessions the question is do you want to have optimal policy tools to mitigate the impact of that that's what you really want to know and that's a good question but i've got to go we've got to go to the we've got to go we've got elise actually on the concert and it's my pleasure i was going to leave yeah i

think the maple leafs are going to win that's that's the point of this conversation so the toronto maple leafs are going to win the stanley cup and there's something called m.m. take. to catch us on twitter at kaiser report until next time. all see we have a great see what we need to strengthen before the free world cold and your bets have been a legend to keep it so it's at the back. in one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and i'm hoping to bring some of that waiting spirit to the r.c.c. . recently i've had a lot of practice so i can guard see that peter schmeichel will be on the best fall

since my last will call him that throws or three. thousand old jokes i was only. brush. i strike. left left left more or less ok stuff that's really good. for most of my yeah. one day in a car on the city day. it burned really knew nothing then we took all. this i wrote these are the new rights and holding them in can all be mint and make a friendly plate on from a place. in from the middle up on the yes that's a local little kid on the wanted us in the beginning to see

a little. of those. set up. i thought that the ample. that. was on the. a little more on the. oh. i've been wondering was the. oh. oh oh i was. at least four

palestinians are killed in many injured in clashes between protesters and israeli police tensions remain high following the u.s. recognition of jerusalem as israel's capital. america's top diplomat tells north korea it must earn its way to talks and threatens a military option in an angry exchange at the u.n. security council which was supposed to take the heat out of the crisis and france is set to pull the plug on people in their phones in school in iraq over where the children are spending and healthy amount of time on their devices right of the need for. talk to reach the right people and getting paid for stuff for the art of conversation if you're simply not true. oh you know we cope well with our mobile phones yes of course we did but with our being to cope well with our cause we cope well with our houses if you go from backing up but the reality is that the society is moving forward.

with r.t. international this saturday morning which is just gone eight o'clock in moscow a tenth straight day of unrest to seen at least four palestinians killed and many more injured as the for lack continues over donald trump's decision to recognize jerusalem as the capital of his right. he. was. was. was was was was. was. this video filmed on the israeli gaza border shows one protester in a whale share it is believed he lost both his legs several years ago during the israeli airstrike he was hit by israeli gunfire on friday and died while of the

price asked is try to carry him to safety local officials say israeli soldiers suspected he was wearing a bomb belt local journalist and guardian reports now from the city was on. the. we are still in the freezone and tensions are increasing the israeli army are throwing tear gas bombs as you can see it actually raids of tear gas bottles there also throwing live bullets. was you can see. sponsor fighting the place people are running. the ambulance is he taking the danger was. the sense the finding there were lots of protests and demonstrations all over gaza

strip there were large the palestinian factions and palestinian leaders come out their supporters and the palestinian citizens to climb to the confrontation to front with the israelis against expressed anger against other troops decision. pro palestinian demonstrations are being held across the middle east in jordan cry. protested outside the u.s. embassy after friday prayers while in beirut in lebanon hundreds gathered outside the u.n. building waving palestinian flags but the scandal of the fronts move on jerusalem has left one cain is in country in a tricky position. now explains. the power landscape in the middle east has seen saudi arabia and israel gravitate towards each other over a mutual dislike of beer and it's very clear we israel and saudi arabia are practically on the same side all sunni countries are against iran and while both

countries and i having any official diplomatic channels whispers are growing behind the scenes about the extent of their cooperation last month an israeli military chief of staff was quoted as saying he was on the exact same page with the saudis when it concerns you or am i was sitting there listening to the remarks of a saudi general feeling like it could have been me saying the exact same thing it was like he was reading my own overview of the situation so a definite psychic bond building there that was until trump threw a wrench in the works by recognizing jerusalem as israel's capital therefore i have determined that it is time to officially recognize jerusalem as the capital of israel saudi arabia joined to the muslim world of course of condemnation saying east should jerusalem.