times again we will never commit these crimes again well of course that is the fix market is a many many many trillions if not quite jillions of dollars mark and they rigged it for their own benefit to profit for the bank to profit on their own derivatives positions so here they are paying a small fine we don't know they didn't they didn't say in their statements how much they gained from regaining is the fakes but they're paying a seventy million dollar fine and to the ordinary person who's running off with some laundry detergent as their own fungible transferrable tradable currency well they think what seventy million dollars well that sounds like. that's like thirty five three hundred fifty thousand gallons of liquid laundry detergent as you point out this is coming after all these banks promise not to do all these crimes again going back to the two thousand and eight period you know what index or fix hasn't been rigged is live for four x. gold and silver now multiple banks have been finally era vocally area few to bully

convicted or frowned to be guilty of fixing those prices and they pay a fine now if you apply the same justice to the people that were stealing the log detergent from various shops in the ghetto you would go to them and say hey man don't steal everything from the store and they would give you like ten bucks and say here's my final ten bucks fine leave me alone don't don't bother me i got stuff to do and then they would do this crime these prison population in the cost of persian population would die would go down substantially if they apply the same sense of justice to people stealing stuff from stores as they do when they allow banks to commit larceny and wholesale theft willy nilly without any deterrent whatsoever think of the jails would be only half empty or a quarter empty just all you know charge people a small fine and allow them to go steal from your moms and grandmother to pay that fine like the banks do to pay the fines these banks steal in the open market from each other from the public from their families from donald trump their serial

fraudsters and that's what they used to pay their fines and the regulators say i love you so much for the way that you're abusing me because i'm a child and i don't know how to respond to the way that you breakers are legally. you know it's serial repaste us but if it wasn't for fraud there would be no economy and we got to go to second have to go away stay right there. so my mummy boy and entertainment have become blood in our culture and we have children grow up playing playing on the computer this war has somehow been to mystic hate it is entertainment to russia just there's nothing funny about it this show is serious russia will be the last to get the nuclear weapons because russia regards nuclear weapons as the bow. against inflation no walks by the superior

competition the full. brunt of the cock up close to the best out of. the concepts those paying to perform i have actually prepared myself to die. in a home of. her. scanty clothes. so we'll see if it. was that he could with us. yes scare me she. had to push

the. toilet b.s. . it's in american interests to not see any russians die in terrorist attacks as it is in russian interest to prevent any terrorist attacks in the united states or elsewhere in the world so i don't think there's any dispute on that in congress and i think maybe some of the posturing is frankly political as opposed to substantive . welcome back to the guy's report imax guys are time now to go to chicago and type with a mish shed lock of mish talk dot com mish welcome back their pleasure be back on macs were saying some fireworks their little. one i got is going to do to all the.

european shorts own volatility how you get smashed on his droid macs yeah that's an interesting idea there is ban a trade on the for how few years now in the head try to community in particular where they are short volatility they're short the vix and this has been highly profitable for a few years and the vix made a huge late on the upside and i guess what you're suggesting there is you've got some blood in the street now at that particular trade where it was so where do you see this market going mesh and depends where they typically what we've seen is just a one day pullback and in renewed high we're seeing a market down a few days in a row of dollars we're talking years down far more it's not sure where it's going to close that's that's a pretty significant move was down over three hundred points couple days ago so we're seeing the start of something year ruble what these are hedge funds or during

and max as their attitude is whenever volatility sparks they're just short more and more of well max if you keep doing enough that you're eventually going to get blown out of the lot and i actually think that's going to happen right there say martin gail system of betting yes that's exactly what it is yeah yeah. yeah turn it out yeah you're constantly doubling down on a betting out of red at the roulette wheel with the idea that eventually you will when before you run out of money but this is what you added an environment where you can borrow money from the fed at zero percent interest rates. and you can borrow virtually unlimited amount of money from the fed at zero percent interest rates the martin del strategy of betting is a winner because you never run out of money and that's why we've seen these incredible dislocations in these markets and a collapse of capitalism as we know of the let's talk about g.d.p.

the atlanta fed says a q one twenty eighteen will show a pretty remarkable five point four percent growth your thoughts pretty remarkable . how about an awesomely remarkable attard oh i suppose i some perversion it didn't happen i mean you are not responsible for being able to measure this thing they are good at what we've typically saying three hundred rower or maybe even four out of pocket the end when a parent comes out early and they. are only in the early to start of the quarter where these remarkable forecast you know they were they were worse at the start of the last one was again a two point six dollars five point four percent i look at every time these reports come out max that i have you know as like i'm betting on a spread you over underline it at a football game in the n.f.l. and i made my typical comment here about the atlanta fed model it was a own take the under way are under you know if this is an all rounder bottom line

and the line is five point worse than max i don't thanks well it does torts and some inflation and we've had a thirty eight year bull market and bonds going all the way back to one nine hundred eighty one volcker was a federal reserve chairman reagan was in office and we've added a bull market in bonds ever since then and we have a zero wrenches traits we've talked about in some countries dow interest rates are negative but so the question is whether a stab climbing higher is this finally the end of that bull market way say they're mesh i don't know but i don't. thanks though the polar climbing go gross has claimed i believe this is the third time now max the end of the bond bull market well maybe he's right this time but maybe he's not certainly we're seeing an inflation scare if nothing else here maybe the real deal and maybe the real deal

for a while maybe the real deal for a quarter but what happened was. the fed hikes once too much starts a recession as the next recession is baked into the cake they're going to blame it on the fed for hiking one time too much and that's not what it's going to have done it is going to be all the excesses the fed has created in this bubble just like a credit the dot com bubble in the housing bubble and now the everything bubble max so i'm people are going to say are we raise rates one time to manage or probably blame it on they the. new incoming fed chair by all by this this was baked in the cake either janet yellen. baby steps just as greatest band did until adding bubble finally blew up did the same thing under yellen so what's going to happen though here this is the question max if we get an asset bubble if stocks are falling and more importantly of commercial real estate and all

prices start falling again what second to do the bank profits last second to do their gallery then we're going to become banks are going to become capital parents we're going to be in the same situation or similar situation we were an in two thousand and seven asset prices by no one wants to buy loans borrow money so. what's the fed going to do during the current rates that's how i see it and actually if the asset bubble gets big enough i actually think we're going to see outright deflation so do they fed's move members to appropriate deflation or what's going to cause it ripen right after that many times they. fed's attempt to fight deflation actually causes deflation and de bread flour all this jumps and on twitter and says that's crazy talk but. you know that that's exactly what's going on but let's return to this martin gail betting theme which is that you can keep doubling down on a bad bet until it becomes

a winning bad you mention that stocks pull back on a one day situation then hit new highs you talked about the housing bubble in two thousand and six two thousand and seven it looks like a returning to that kind of era and all of this if you were to point to one common theme or this source for all of this global asset inflation and you'd have to come back to the bank of japan you know bank of japan has been the go to currency the driving this entire bubble and nomics and the top of everything and now they've recently said mesh they're proposing to spend quote unlimited amounts buying their ten year bonds a point one one percent so if that is that still if they're going to still doing that meshed and then the yeah this is just going to continue on for a while right there wasn't even a new announcement max last the funny thing they came out in sort of debt three days ago right i haven't haven't we heard this message your report now and did we did i went back tonight and i looked and i found

a they said the same thing in our financial times report it was our biggest i think in the last year when they said it probably spent before that so now they've drawn this line exam max it's zero point one one percent i sat in my blog yesterday and i said what's the message here that is that i am can't stand it any one basis point rise. in bond yields are ten years as a g.d. . ten year note in japan must be really attractive at point one one percent have all of these fund managers you know. in japan want to hold on to these things no one else in their right mind has them anywhere else in the world so. now that you know so i did a sarcastic post maxim on my blog and i said i didn't write as japan you know strategy you know just buy all of these at this floor was reduced duramax go out

there and just buy every pot why not they you know of course some foreign managers might not want to give up those attractive yield one point one point one one percent yielding bonds on ten years well as though the way they can get them to release their max is if they tax and they want to hold bonds that one percent now these guys are losing a percent a year on these banks we're going to blow the banks in the math and math bank of japan can buy them all up every one of them now looking to beauty of this max we can finally test m.m. to a monetary theory that government spending doesn't matter and we are to ourselves after they bind them all up they can cancel all of the debt null and void let's do it max what do you say let's test m m m m c now what do you sell the fans at the highest

at the g.d.p. they got the highest at two. versus you know their central bank oh ok canceling it now yeah well yeah and so all the grunt we're going to buy of all these bonds bonds cancel the debt very start with a clean slate let's do it let's go for it and i propose one more step was around why don't they just buy up all the debt of corporations to give in as are buying all these stocks will he know it as is what the swiss national bank yes by all max this is what mt sounds really can do i'm ready for a test well i made ok. to follow up on that the reason why the that the problem there is that these deaths have been re hypothecated and pledged against other assets in banks all over the world so cancelling japan's debt would in effect put the global economy into a freefall and it would immediately come to

a grinding halt because of the fraud that happens on the set of now you know that max and i'm no ad a remark think that well this isn't about the m.m.t. thing or say oh yes isn't. this let's mills a class give them let's give them their yeah i want to before we have to leave now let's talk about something that's i think the most ridiculous play off the charts nonsense i've seen in quite some time and you know i know you tweet a lot about because i talk a lot about because i you know you see big point as being a fantastic all and not worthy of comment but compared to this story mesh it makes big clay look like a triple a gilded bun it a your own state of illinois they have a plan to fill the pension black call by selling a hundred seven billion bonds and then using the proceeds to buy stocks that are now all time highs i mean this award is smoking over there illinois i don't know max we talked about this a little better

a few days ago up there. it is kind of amusing when i proposed i don't know what their idea was going to flow on hundred seven billion in barns and they're going to use it to buy stocks now my guess is the interest rate would be seven percent probably greater i think the bar market's partially right now but let's assume they could borrow these things at six percent they would need to have a sex percent returns just to bring you my proposal was some of the bank of japan was most to buy those bonds and do something different you know you don't throw billion dollars in the month on next. that's not going to sign we're going to iraq i got never made a fortune next month they're already going to docs i know that's not what they want to do they want to buy this money and do the same wall behind me where i don't know why it is pensions are about forty percent foreigners are actually it's worse now i believe that's what they're trying it's. the next downturn is going to kill.

again by men we gotta say goodbye we're going to pick this up again right and we all are thrown out i know because you know you've got a wealth of information but we just are out of time thanks for being on my pleasure max all right well that's going to do it for this edition of the cars are it for us i mean ask as or as stacy ever like this i guess mish shad luck if you want to find us on twitter go to kaiser report on twitter yeah until next time. despite its turbulent history. has dominated international sport however this was about the use of those champions from the. sort of you know go. right on the children.

newborn will be there with gordon b. if you're going to do with your brother this guy who is for the order of you who was the first to be reserved for you you were the first some of you to limp with one hundred fifty two in the polluted seats of a concentration camp prisoners and from soldiers put your baby in the good girl with your shoes because you are much too good to be sure who because your birth put you in for the ones who. are going to put out a call with you if you think that. we're going to go with. variations you'll push through for through personal or. into shows you do when you're at the national mourning period but in your world the workers here we are in the world now as you know can we.

across europe municipalities are taking their water supply back from private companies who have it in me to keep our distance with simple song alone even some company guess will elsewhere though they invite private companies to take over the utilities many by the telescope of. laxness you guys who got me a while in the back of my because. i've been this is us to quote them out. of more years than both the left bill brought up locals are ready to stand up for the basic human right of access to water it's about water but it's also over much more the water it's about to hurt and the redistribution of our west purchase their debt downwards the one dollar.

israel strikes twelve targets inside syria after the syrian military downs one of its fighter jets how it did. maskers says it was responding to an act of aggression by television. the south korean president says he's ready to accept an invitation to visit pyongyang from the north korean leader in the latest sign of foreign relations between the two countries. but.

less than a month before general elections far right supporters clashed with police and i talian city has suffered a racially motivated shooting last week we hear from the increasingly popular right wing leading north party. in the next election the people will use it to vote and this is the only we. are very warm welcome you're watching us he international with me good to have you with us this hour. syrian air defense has responded to new israeli raids near the capital damascus the israeli military confirms its attacked twelve targets in syria including both syrian and iranian facilities idea for striking new syrian

in really military targets in syria in response to any new aggression more to follow the perspectives of syria and israel on the situation different in certain respects. thus morning the syrian army commander should just statement confirming that syrian air defenses intercepted israeli fighter jets that were carrying out an airstrike on location in central part of the country and then later on sunday news agency the state news agency said that israel carried out subsequent strikes on locations west and south of the syrian capital damascus also said that the fences from the tsunami have been intercepted peter attacks according to my sources. by nine thirty local time in all airstrikes stop we all we can also confirm that the sites that were targeted in earlier the attack that took place on don't today is

the t four air base in central syria in the deserts of central syria near a problem iran my military sources are saying that there has been no casualties only three want to talk to us in this don't attack but there is no official confirmation so far and the positions that were hit today and the subsequent attacks are in the mouth of the mouthpiece and in the top of the mouth because because we had been hit before by israeli airstrikes. earlier this year and back then israel said that it had what it believed to be and a gathering of iranian advisors and the command building of the syrian army's first armored division well it's a play in three acts that all started with any iranian drone a remotely piloted vehicle which entered israel proper we don't know yet where they are for surveillance or attack and it was shot down by an israeli

armed apache helicopter now following that particular incident the israeli air force has retaliated against the. launcher of this particular drone. hitting the. command and control of vehicle and perhaps the launcher itself and during this attack one of the israeli f. sixteen was idea of heat by syrian ground defenses or the pilots got the impression that they are about to be hit and bailed out so israel has lost one f. sixteen and following that israel has again retaliated hitting the a twelve targets several of them being iranian and several syrian this is the most serious

incident. between israel and syria and definitely between israel and iran in many years perhaps in ten or fifteen years we have not seen the like a feat. the south korean president said he's ready to accept an invitation to visit pyongyang from the north korean leader if certain conditions on that the invitation was delivered by kim jong un's sister who is attending the winter olympics in south korea he's the first member of north korea's leading family to visit the south since the nine hundred fifty s. he met with president moon for talks that ended at last think three hours and the opening ceremony of the winter games also saw signs of soaring times between north and south with the country's teams much and together.

the recent friendly relations between the two countries are widely seen as a breakthrough that's also the country's helpdesks us told us in two years its hong kong city university's joseph chung the political science professor believes this invitation is a breakthrough. this is a small prick proved because it doesn't move and also korea understands that his peepholes would like to see a beat escalation of tension in the korean peninsula the conditions normally will be cessation of new krypton as then this outpost on the

part of north korea and north korea in tune will team on a terminations of law scale military exercises on the part of self career and and the united states. well the two koreas were able to march on a single unified flag and then pick out place from russia from the all same as it's known and to the opening ceremony under a neutral flag however although the russian flag was banned by the international olympic committee it still found its way into the stadium. explains. no russian flags at the opening ceremony nation's parade chang the i.o.c. said some very strict rules and provest no excuses for anyone who'd violate them so who would have thought the russian tricolor would still make it to the ceremony all thanks to a blogger by korean t.v.

just as team france were walking into the arena a russian flag i can bob well while the zero eight our team were carrying the white a live big flag maybe russian flags flashed around the arena at the stands but it turned out that not only russians brought them there we spoke to one american fan who grabbed one too and i thought it would be nice to you know show a bit of support for them because they've basically worked for years for this moment to represent their countries and now they can't and so i was kind of trying to sort of you know help them feel at home i was trying to sort of send a message that they should be included because the olympics is for all countries i don't exactly know the particulars of the doping thing i don't know what the right decision is really i'm just trying to show a sense of unity i'm trying to kind of put the politics aside i'm trying to support these athletes because we know for a fact that these athletes are clean there's no doubt about it but then they're being punished for what others may or may not have done and so there's

a collective guilt and i don't like collective guilt i think when you have all so many verses best athletes banned just before the games instead of you know just for the game so they can't appeal they don't actually have any they don't communicate directly what they did wrong but then all their best athletes are sort of bad. i think that is too much to be a coincidence. the french defense minister says there's insufficient evidence of chlorine gas used by the syrian government that contradicts previous claims by a number of western politicians including france's foreign minister on their desire guess you push. your. absolute. resolve. the french defense minister saying that there is no reliable evidence to suggest that koori mail was used by the syrian government contradicting what we heard just

a few days ago from the french foreign minister who stated that korean attack and been carried out by the syrian government. in the syrian government has been accused of carrying out or in attacks in areas in the country in january it was accused of doing so by a number of groups including the syrian observatory for human rights which some people have questioned the organization which is run by a businessman in the u.k. and also by the white helmet so voluntary group which some people have accused of aiding with the terror executions that have been carried out in syria by taking away the bodies at the end of the execution will the u.s. government has also spoken out about these alleged turks in syria with the u.s. secretary of state rex tillerson when he was in france last month same regardless of who carried out.