in two meters of snow done with reality economic environmental social and political fragility in avalanche territory a loud noise can bring the whole mountain zone and donald trump comes to town on friday turns out davos is actually this social experiment when you're gather a bunch of the v.i.p.'s them make them carry their own luggage through snow and stand in lines with each other elbows are wonder what would happen if snowed in and no one could leave for a week and the world realize that they could run it so without the business and political leaders mother nature is the biggest gaston superstar and have us six feet of snow commanding. well all that snow aside the author and editor gerald does think that those participating. focused on urgent economic mates are davos to the zero point one percent of the people they have very little concern about what the rest of the people are getting it's one big club and it's

a deal making club again all those saw the little things about you know gay rights equal pay oh that's just a lot of nonsense and it's for the media to write about when they don't want to write about the hard facts of how the so few own so much of how so many own so little what exactly mentioned in her report the three day government shutdown in the us has finally come to an end after president signed a bill congress now has two weeks to find an agreement on the immigration that's the main sticking point between the republicans and democrats at the moment however the mainstream media is still focusing on the failures of donald trump even though the shutdown was actually two weeks shorter than the one suffered under the previous administration from shutdown that should have been a day of celebration for president from one year in office the one year anniversary of his presidency but the party he planned at mar a lago is. no more at the moment because you're waking up to

a government that is shut down this is hard stuff for him this is his first anniversary tomorrow he's got a big party and then he's going out to show the world what a great job he's doing as president seventy years of domestic crisis if he was such a great deal maker the government wouldn't be close to it. for the first time in seventeen years much of the federal government is shut down congress failed to agree on a new funding board midnight deadline the public of course is increasingly disgusted by what they're seeing going on or not going on in washington and the latest a.b.c. news washington post poll showed majorities disapproving of the president and both parties in congress. now one of the largest consulting firms in the world has been accused of multiple leagues a former employee who says he was fired for revealing the allegations disclosed

that the accounting giant is involved in bribery money laundering and also the cover up of illicit gold purchases from conflicts with more he goes you don. the story hidden in the court papers filed by this auditor against his ex bosses could be one of the grandest smuggling scams greed money laundering and back door dealings measured in billions of dollars. is accusing one of the world's biggest auditing firms of covering up the tracks over dubai precious metals megacorp act one. ernst and young for a new audit inspectors come to dubai and the first thing they see is a pile of moroccan gold buyers casually bundled up on a desk stacks of gold at a gold refinery could be business as usual except these buyers are literally painted silver in order to sneak them into dubai four to five tons of gold gold bars coated silver smuggled out of more cool arriving in dubai cleared as gold when

the team found the discussed it with with colucci the admitted this is the way of doing business with the with these moral consult lawyers inspectors do some more digging and what they reveal brings us to act two some of the precious metal in colossus coffers could be blood gold shuffling through papers auditor's discover the refinery was more than happy to shake hands with small mining operations in sudan and the democratic republic of congo apparently colossi asked for no licenses offering cash in hand in exchange for gold proceeds from search sales and conflict torn countries are known to directly fuel gang wars which are responsible for hundreds of civilian deaths soldiers naam group leaders see in control of the gold mines as a way to money guns and power for forty two of the ruthlessly often targeting civilians in the process so ernst and young employees calm through colossus cash

transactions that's when we get to act three apparently the company deals in cash almost as much as in conventional bank transfer. that's billions of dollars going into a legal black hole impossible to trace so the auditor's diligently record every failure of the dubai giant but there's no pats on the back for them from the boss we requested a meeting with the babies to get it or when they realized that we're not going to alter our findings or change them they went ahead and. changed their own guidelines in such a way that our findings and or for their conclusions will not be made public ernst and young have denied allegations they were in cahoots with the group the dubai refinery is still in business saying there's been no material impact on their ability to operate or trade i'm just rehired the man who led the team and expose the alleged wrongdoings says the audit ing giant branded him

a troublemaker and sacked him so is blowing the whistle a noble thing or just a falls there and in this saga it's left up to the court. of r.t. thanks for watching this morning still ahead for you this hour britain's military chief has highlighted the country's biggest threat that is in a couple minutes. here's what people have been saying about rejected in. full on. the show i go out of my way to. the really packs of. the john oliver of r t america is doing the same. apparently better than. the c. people you've never heard of love back to the night my president of the world bank

very. seriously sent us an e-mail. to. put themselves on the line. to get accepted or rejected. so when you want to be president. some want. to go right to the press it's like before three of the more people. interested in the water. welcome back to russia has been described as think biggest state based threat to the u.k. since the cold pool chief of the general stuff nick carter wants more funding to you to bridge the gap between british and russian capability with the details of

his party boycotting. the arch exponent of this is russia i believe it represents the most complex and capable state based threat to our country since the end of the cold war i believe. to preempt or respond to these threats will be eroded if we don't match up to them and we cannot afford to sit back. on military chiefs asking for more money for new equipment is pretty standard practice but only it's retired generals this time around you had the acting head of

the army nick carter risking annoying his paymasters really by saying that he needs more money for the military but the purpose of the speech was just that he was warning of the dangers of underinvestment in the u.k. defense forces and he spoke of the dangers of failing to keep up with the level of russia's military spending and also with what he called russia's unorthodox and hybrid warfare and one thing that was certainly unorthodox in his speech was this already a clip take a listen. if it indication of the scale of them organization is clear from a three minute video clip i'm not going to show you this was run on russian t.v. a couple of years ago you don't need to understand the russian just simply listen to the tone of the commentary good uses the mood music going to the label use the to skew the cue to go to the roots live you can choose the movie it was playing on stereotypes of what sort of russian sounds like the rough. language and his

perception that russia may be aggressive and hell bent on world domination nick carter wasn't the first person to talk about the threat coming from russia to resume a spoke about the same thing in a big foreign policy speech late last year it is also worth pointing out that when they're not asking for more money. military chiefs are somewhat more blunt as they about the whole russia thing it's a very different tone last summer then defense secretary michael fallon he joked that russia is probably jealous about britain's new state of the art aircraft carrier because russia's is so dated and you've also got boris johnson the u.k.'s foreign secretary meeting with his u.s. counterpart here in the u.k. rex tillerson talking about iran north korea and syria they haven't mentioned russia being on the agenda. security analyst. there is some more the

general said. there is something of course to what the general actually says and that is that first of all. the british state of the british military in terms of the number of its personnel the number the amount of its equipment in the quality of that quitman is at a picture from a low level and so therefore you have to have some sympathy perhaps for this man if you forgive me if i'm wrong but it's about money it's not just russia of course we're talking about north korea or iran or the other bogeyman that are used for there is not withstanding that i mean it's very interesting that we hear that the russian threat today is actually not thousands of miles away but on the doorstep of europe actually the reason for that is because russia has moved its because nature of course has moved much much closer over the last twenty years towards the borders of russia so it's a slightly ironic thing to say i think. by finally it does turn out that the north korean pop star who was thought to have been executed is now going to lead her

country's delegation at the upcoming winter olympics and it's not the first time either there has been confusion over the well being of high profile figures from that part of the world. to. eat. sleep.

so that's how the news is looking so far this hour here in r.t. i'm back with more for you in just over half an hour's time but don't forget we got plenty for you to our website at our. as you read the stand and hear from us and. our own move from what i saw.

and out of this that our men are far from a thief and our brothers you know what are the four for every kid i've ever. i'm going to let them but i don't touch and then you cut and kick and. i have food as a child for truffle and it. doesn't work then i'm on my machine little so i know it does show the family owned model. number set up around the hay for the innocent doing. good for its whole food place choice on yours or you haven't theosophy time in syria has said. as if. someone else for that in africa will fuck around with mr hates it for a jim and then oil for food are found in the. fields.

this is harlan kentucky. over all of this move the employees people were going street fanny's removed. a co money city with almost no coal mines left. the jobs are gone all the coal was a said. that it was a laugh to see these people as survivors of a world disappearing before their eyes. i remember thinking when i was younger that if anything ever happened to the coal mines here that it would become a ghost town but i never thought in the million years i would see that and it's happened it's happened. everybody i'm stephen both the task hollywood guy will suspect every proud

american first of all i'm just george washington and r.v.'s to suggest this is my buddy max famous financial guru well just a little bit different. abraham lincoln or not there are no windows up with all the drama happening in our country i'm shooting the brood have some fun every day americans come calling and hopefully start to bridge the gap this is the great american pill which. this is the report we're a bit coy mine and we were

a year ago ever because it was like buying under a talk to broad picture she said this was their year toy seventeen to go to all kinds of move crazy yeah it sure did they're experiencing a bit of a poll but. yes there is quite a little bit of a pullback if you want to call fifty percent correction and more. you and i are quite used to this we've seen this many times sixteen ninety percent corrections and the market so who knows it could fall even further it could the two hundred day moving average by the way is at eight thousand it could fall beyond that who knows but you know what has collapsed to nothing that is currently i'm the headline reads collapse of construction giant with forty three thousand employees globally sparks fear and may have so max you know kirlian is a two hundred year old infrastructure company which builds hospitals schools prisons just to line in total the firm participated in four hundred fifty public

service projects in the united kingdom this is part of the p.f. ideals private finance and mission of this is just one of the companies a two hundred year old infrastructure company is collapse has been liquidated i saw that shareholders might actually get between less than a penny and six p. back to the pound invested in the company remember the reason i bring this up is because bitcoin was birthed into the world january third two thousand and nine the genesis block and in that genesis block it mentioned the collapse of the banks and the u.k. that were being bailed out two hundred year old banks were being bailed out now we see two hundred year old. infrastructure companies being bailed out yeah it's great really juxtaposition of big boy and the crilly and story and as you point out it's echoes the two thousand and eight bank collapse that spawned the creation bit coy as a way to fight back against what is hyper financialization trillion is

a victim of financialization and just like many companies in the u.k. and around the world private marketeers buy up lots of stock they load these companies up with debt while extracting equity and then they let the company cole lapse under the weight of it's own debt the p.f. ice games were over there in the u.k. it's a quasi government private sector deal it was all was an all is a slush fund we've actually been reporting on this for a member of years saying these deals will collapse as guaranteed now cruelly and house collapse as we predicted. exactly as we said to would collapse because you cannot grow trees to the sky life you try to do with trillions well by the way just so you know where we're here in miami where the brick out area of miami and this is you might see some boats and stuff going by in the background and there's a bridge over there just so you might not be alarmed people get scared out there when they hear noises that they don't know what they are because they sometimes

think we're on a green screen but the other point about crilly and all these other p.f. i companies are also getting whacked their shares are tumbling the government is actually looking at their balance sheets and seeing what's going on there one issue that arose with karelian as the share company's revenues were crashing they were having to borrow more and more short term money and what did you say these are private these are public projects the government of the united kingdom can borrow at all times four hundred fifty year lows can private companies know here's a tweet from joel benjamin karelian was trying to turn itself around while being charged a rate of interest of eight to ten. ten percent above libel or for its emergency loans this is why private companies should not deliver core services for chippewa a rated government able to borrow a point five percent madness of course you know the taxpayer was always on the hook

for that ten eight to ten percent above life or that banks were right but let's take a look at this the genesis of this this was a way for the u.k. government i believe it started under. major john major and debt off the government's balance sheet and to put her on the private sector to make the debt to g.d.p. ratio look healthier thus allowing the government to borrow more and of course this was a recipe for disaster it created moral hazard on an epic scale and guaranteed to collapse as it has collapsed and yes the entire sutter this entire p.f. by sector is collapsing will the bank of england bail them out probably and again this is why people kind of rushed a bit coin in gold because you can't prove either of those well whether or not the bank of england bailed somehow is one thing they obviously have not stepped in the company is liquidation its collapse many of the biggest banks in the united kingdom are owed money over two billion pounds we don't know we're going to it's you know

obviously what what was the warren buffett called these derivatives he called it like a speed getty you never and you never find the end of it well here. it'll obviously be in bankruptcy for quite a while who have to figure out what's what they actually own but one of the things that a lot of these companies do is they get the contracts they got these contracts by basically underpricing them to get it over you know be awarded the contract over the competition they couldn't deliver at the price but they had already flipped it they a lot of these companies flip it to foreign holders in offshore entities and wall street points out that karelian was one of four comp. the other three being balfour beatty interservice and cheer there pocketed over three hundred million pounds flipping p.f. i schools and hospitals to the highest bidder and other words many of karelians p.f. i assets are already in the hands of foreign investors meaning that while the government

will have to take over many of the services karelian can no longer provide and may still have to pay leasing cost to the foreign owned firms that currently and sold out to otherwise those firms may sue the government for a lost profits this is a remarkable chain of events because you have u.k. companies are going to be privatized because the private sector is more efficient so they take it out of the hands of the government and then these assets end up in the funds of public pension funds or foreign governments to pay in interest income to foreigners supplied by u.k. citizens so it's a transplant of state assets with reliable income out of the u.k. to foreign governments you know we you and i have pointed out that these p.f. ideals have been very expensive to the u.k. taxpayer and on this bit for this headline then we're going to go on to another headline relating to this but for this headline with wall street dot com this is

all happening at the chew cost of p s i is becoming apparent in april twenty seventeen a bombshell report by the national audit office warned that the price tag for paying five firms would reach eight point six billion pounds in twenty eighteen alone in total taxpayers oh a mind watering one hundred twenty one point four billion pounds on public projects that are worth just fifty two point nine billion pounds and the compound interest continues to grow i mean it's not a direct bailout in terms of ok the company went bankrupt and it's going under people losing their jobs pensions are being destroyed and the government stopped bailing them out at this hour but a lot of that debt will end up on the balance sheet of the bank of england they buy all. toxic debt and then they'll say there's no inflation so it's keep interest rates ultra low which means no income for wages and no income for savers so it is a stealth bail out always a stealth fell out they'll keep printing printing printing parts and printing the value for money continues to press against that point so now we're going to move on

to the next headline about this and it's very very british i think it's good to end on this very british headline karelians highly inappropriate pay packets criticize the main lobby group representing u.k. bosses has savaged the highly inappropriate pay packets awarded to directors running the now collapsed construction dying karoly on the institute of directors also accuse directors and shareholders of the stricken firm of failing to provide appropriate oversight of the company which is involved in a host of major government projects and vital public services and slumps into compulsory liquidation so roger barker head of corporate governance at the institute of directors says it's highly inappropriate that these men wear warranted these massive bonuses throughout the basically collapse of this company they also a year ago did basically change their own governance structure whereby their bonuses are not subject to call back specifically they removed if the company

collapses well the problem is and i've said this before the british character views that type of fraud as quote unquote clever ninety nine percent of the british population have president of the fact that they've had their wallet stolen and beaten about the head by fraudsters will say they're so clever how do i get into. how do i steal money like this right they don't see this shortcoming they see this as the british character is right up there with bar might have bulldog's is theft so there's no outrage against it because there would be an outrage against the queen and the flag first of all the second of all they're going to have an inquiry to decide whether or not to have an inquest whether to form a committee whether to explore the past. ability if in fact there needs to be a discussion about possibly prosecuting the alleged crime and that will go on for seven or eight years the statute of limitations expire and the clever robbers will you know run away and i want to say bravo. your clever little things we love you

because you're so british you want to put the marmite up his french saying its fake like a canary because you're a fricken idiot. ok well again i'm going to read you this how the home quotes because it's quite important to understand the. you know the scale of what it has been don. and how. you know the language is and how to get out clauses are already in there so this guy roger barker he's the head of corporate governance at the institute of directors said that the collapse of the company suggests that effective governance was lacking at corralling them yet and we must now consider if the board and shareholders have exercised appropriate oversight prior to the collapse i want to make a point about this is that the share price has been falling steadily since twenty fifteen and then it really started to crash in two thousand and sixteen and plunge this summer so who is short that's the whole time who is making money the whole

time i guess max tell me who george just mort no no no it was hedge funds hedge funds are shorting this they figured it out they knew it despite hedge funds shorting wildly it was the the most the most shorted stock in all of europe ok so how did the government not know how did in that condition the government continued to give them billions of pounds of new contracts because they're corrupt because it's a constitutional monarchy where there are no citizens there are only subjects of the crown and they wanted this to del boy economy you know member the show fools for fools who are only whores only fools and horses only fools and horses where the that they hero is a schemer you know this is just on an epic multi-billion dollar skill that's the national character. that's churchillian churchill was a school schemer. awful guy and they make these great movies about him but he's

a kleptocrat. well that's it for this half of that chis report stay tuned for the second half a whole lot more the outstate just the second how much more please please. yes i was pretty good with the police car couple that you. can't remove and also mention i believe will do more to well mostly we're going to my wall so you will but you know one of them stood up and we push it out so i. can tell you from time to time the game moved out of the you know the middle of the

scots move you the two cops believe you know t.g.v. easy show reason you look good. you will know the little girl but shuttle secret in the armor if you do you can you can either call you something you . did to us told me my suspicion i was there live. cuts. are like. by too many flips over the years so i know the guy even so i got. the ball isn't only about what happens on the pitch to the final school it's about the passion from the fans it's the eight.