on your money dr schwartz dentist in bay city and you know you just sell those all day long it's an easy trade to do and they just load this place up with. the convenience is from convenience and now they don't pay the interest on the debt they shouldn't pay the interest on the debt they should force it back to wall street where it came from and so take your toxic debt sludge and cram it up your shrinks think is going to pay the interest on this thing because you just manufactured it in your derivatives factory has nothing to do with our economy go go into more fungo and drop dead well they did eat a lot of mofongo debt they had a lot of debt and that part of that by the way happened. puerto rico's recession remember everybody else in the world in two thousand and eight two thousand and nine actually hit in two thousand and six here and what happened is that was the end of a ten year period set in motion from bill clinton basically every single thing in the world that has gone wrong was because of bill clinton whether it was his commodities futures modernization act which allowed derivatives to be traded not as

bets but as actual investments whether he got rid of glass steagall and then caused all the banks to turn into gambling zones as well but he also in one thousand nine hundred six he basically over turned some tax advantages to us corporations to manufacture here and most of them were in the south of the island we'll get into that how that actually impacts the electrical grid here but by two thousand and six all of the tax advantages to being here were lost and all of them literally thousands of people lost their jobs overnight and thus set in motion the death spiral well that the death spiral is being reversed thanks to innovation entrepreneurial pierce and the block change we're going to have a reverse of the death spiral toward the death reinforcing stairway to heaven and at the top of the heaven is a man named toshi not promote oh and we get there through the block chain one block at a time every ten minutes a new block is born like a star in the universe. the multi-verse.

well you know they were kind of adopted because we were called pirates for so long . i mean they're in the smaller baltic sea don't harp on ships and it's. not something. the limo sells to big fish already ninety percent of the darn got any ball in the collar. consecration scoops seventy five tons they do it several times a day with a big cleat oh you get an idea why. we have to understand we can all stay still and just. be witness to the

deal because i. am doing this because i want them for the future world to future generations to have and enjoy the ocean we have. now fulfilled the fear that is hopeful thousands of words about do you suppose you took in but association to ninety five to ninety eight percent of iceland incredible it's almost approaches it very seriously if you. listen to mix it is instant on a figure who through the chemical weapons is concerned she played a role in constant mediation then i think we have to look at the facts and the procedures for the sort of plea agreement she will need the most moves still being

here right. welcome back to the kaiser report imax keyser time now to turn to john mudd according to his twitter bio he's an attorney a legal analyst a teller of stories a bread baker and state supporter john a welcome thank you all right so john mudd you are a state good supporter what does that mean in the context of puerto rico well for time immemorial even during the spanish times there was a certain conflict the politicians the few that were allowed to be politicians between being having. tanami being part of spain or being independent and nowadays we have the same three things the problem is that down the territory

of the united states congress can discriminate against a church or whatever weight it wants to as long as it's not fundamental rights so therefore you are discriminating in terms of federal funding etc independence of course you have certain of that it has and its advantages and statehood you have it the better it is and certain disadvantages right so you're weighing up all those advantages and disadvantages and you're kind of falling in the camp of statehood yeah it was just a little bit explore that a little more so what would that mean for people living well first of all first thing that you would do is that i was born in hawaii so i wasn't born in puerto rico my so this ship is protected by the fourteenth amendment poured into dinosaurs a bit will. porton case in nineteen zero one the puerto rican citizenship which came in one hundred seventeen is not so but as long as i live here congress can say you can't have this you can't have that. once we become a state you will have equal rights but because your state can discriminate tenth amendment will prove it second. you would have an end to the endless debate about

steps and that. debate of status status and that is consumes enormous amounts of of energy in puerto rico and three sources there's a group of elites and what are we who are opposing statehood simply because they don't want to pay federal taxes seventy percent of people in puerto rico because of their income or lack thereof would not pay federal taxes would even even have to file federal income tax returns but the big businesses the few that are local would have to sign the taxes joe you're saying seventy percent of people when they've been qualified to be in a tax bracket and they wouldn't pay tax those who are again stated as such are looking at it purely from that taxes lands are mostly not not exclusively there are people who say because we're different from the gringos we have a different culture etc i would say culture evolves it's not the same thing when i came to puerto rico in november of one hundred sixty three my first cultural shock

was in during the holy week in sixty four the whole programming changed i couldn't see my my my. my cartoons because they were religious groups that doesn't happen anymore because culture changes it's only in my lifetime if you look at one hundred years of course there is a greater changes example nine hundred ninety eight before the americans came there was only catholic church with the law no protestants were allowed. because there was a lot of things that changed abortion gay rights etc have all been determined by american citizens so you're suggesting it's a bit of sentimentality here that there has been enormous change already and so let's talk about some specifics or so since july first the twenty sixteen frederico was effectively run by a few. school control board appointed by the u.s. president under what's called from mesa now does this body get to overrule the

governor and other elected officials here and how does this even impact the notion of sovereignty when i first heard of this the first thing i thought about was greece and the troika you know greece is having a lot of trouble and the troika being be in another body ruled over greece is similar what are your thoughts not the same the greeks could have said no we don't want your money we could have gotten out of the union with enormous amounts of difficulty and problems but they could have done they had a referendum and voted out as a matter of fact about they still in the mouth of the asians there's something there and they're in a stand but in puerto rico it's a little bit different going back to the downs where it's a bit will. congress can give the territories government or take it away and that's exactly what happened here the board when it was imposed took away some of the powers of the of the government puerto rico not all of them actually are the solution by would be out by swing as to the appointment of a c.e.o.

or have bought and she said no you can't do that the board or you can't do it that may change when the fiscal plans are approved but that's another matter all right so just to go into that a little bit more because on the surface it looks like from a sign and the u.s. has absolute control and they are that's a naive view i think what you're saying that this market is more nuance to it yes because the problem is that not the u.s. you can say that congress territorial clauses congress made this. and make need for rules for the territories it's not the president of course the president has to sign up on it but right now the board has certain duties and responsibilities and or going to puerto rico on certain things but another state can't. i have to read the opinion by the judge lane i think it was in the limber still mistress i want to really understand it and maybe you will have a little difficulty but that's the way it is if you mentioned but if i'm right so tell us what it is preface what role have

a plan of bankrupting the territories ok. we've got to go back yes let's go back to the one hundred thirty six people nowadays when i understand it but in those days most people thought that capitalism was in the last straits we're talking about the russians and that planned economies so union south and that's germany were wrote this was most of the intellectuals in the world thought that the body the democratic party. was inaugurated or made in one hundred thirty eight in one thousand nine hundred twenty elections and then the forty one it takes all of the different electrical companies that were in puerto rico nationalizes them and creates but the government is going to take care of the problem is that once you have politicians in charge of something as important to your grid they make political decisions they don't make business sense so they slowly being bankrupting

but i bought and right now owes nine billion the right now when i worked on wall street we sold quite a week of bombs all the time you get triple tax exempt it's like b. plus or something like that yeah getting and i was they have been in cumbered with a lot of debt and i think a lot of that was just convenience of selling debt inventory on wall street debt that was not needed they just became over encumbered with a lot of debt. this is a question i've had for a while what do you think about that you have two. similar but you're saying it's like you're being offered the money so you say ok i'll take a right you have to look at it from another point of view when i was growing up in puerto rico as everywhere in the united states i was offered drugs by people and i said no some of the people i knew said yes and now they're in the street lights and what are we asking for money. it's similar here you may say that wall street was trying to that were eager to issue bonds but it was those and dying to do that so

they could have money the politicians and do whatever they wanted. if you look in two thousand and warn all that what do you think was twenty seven billion dollars ok now you've got a new creditor on the same year the way you characterize wall street was a bit of a predatory relationship there now you've got hedge funds coming in and they are seemingly strong arming the government into paying back loans that maybe should not be paid back accent john paulson for example is a big player in all this is i understand it well i see you shaking your head was he got rid of bonds what he did what paulson did a very smart marlee came in he saw like this whole thing has a lot of potential has a lot of that i mean by. difficult capitalising by cheap and and so they're. ok if you buy at ten cents of the dollar and i offer you fifty cents on a dollar. you making forty cents on line sounds good hedge funds to usually not

always because you have to look at argentina right argentina being an example of maybe hedge funds acting in a more predatory fashion but also a famous. in this case get hedge funds to make deals for example but if they ever had to deal with. a fifteen twenty percent at the end it was a twenty percent haircut on. the board said no to a four to three. but that's what happened and the government was all in favor of it but the warts and sort of going to go through so what to be fair to say your view would be like hedge funds in themselves are not the problem they're just pure capitalist entities the management of those had trons could be a problem in that they're not being directed in a way that would be beneficial. you have to understand one thing. on any form any business is run for your stock. for the benefit of your stock

not for the benefit of people who are equal that's supposed to be the government the same government that took all these loans to keep funding. they are never ending appetite for giving sayings to people so they would vote for them and that it hasn't worked for the last four or five elections so that's the way it goes right ok well i mean that there could be an argument that the on the fun side there is a bit of duplicitous there but let's let's move on to let me put it that is their purpose is to make a buck their purpose is not a public purpose right that's what their purpose is to make a buck but the idea of an anarchic capitalism let's say government run by an arc of capitalist is not a favorable outcome i. was in our national capital while you're saying that the market would have the ultimate discretion in determining what's best for the i'm no no no no no no i'm not going to the market politicians as opposed to what they're

not because they're deferring to the has no bearing because what they're doing is your default issue and you're politician me. you make the decision to take out a very point five billion dollar loan like the previous government. are you going to pay no the taxpayers what are you going to pay it's not you so you get the benefit because i spend the money and people only favors right but i don't mean in the past are some of the politicians being funded by in fact the same financier's do it ultimately benefit by the arrangement that is not necessarily great for folks but i just want to ask you about the hurricane that's coming along and you know maria two hundred thousand left the island sensor chain maria the storm has caused tens of billions in damages and so what's happening to the economy from that point of view the big population drain where where we're at now. obviously there's been enormous amounts of damage at the same time there is still money coming in from thema couple of billion lease has come in already and being spent. there is going

to be more money from insurance there's going to be more money from the federal government. interestingly enough the economy has just shrunk by fox five percent and the income the government gets from the economy it's shrunk only by five percent which is really good considering the enormous amounts of damage the hurricane call for example i live in and the border towns of san juan and why now which are fairly good well well run places and i was eighty two days tricity. so there was a lot of damage and if you consider that there's only a five percent decrease that's pretty good i think they're the commie will rebound because of what i told you after hurting you well five hundred years of resilience well it's all the resistance and fluttering and spirit john i got to go ok and a price for being on the show. i would that's going to do it for this edition of the kaiser report with me. stacey armored like to thank our guest john if you want

to read just on twitter it's kaiser report and. brace for a single. training very young. eight months of intensive schooling. rats. and they save lives. lots of countries in europe then to stand brushes and take part of europe and you cannot think about prosperous europe and developing europe but if you if you. see russia being involved in the european proceeds. that russia's worries.

has to be taken into account and so innocence lost. you might even want to get. carol going to be my mom come on here i know god knows you're walking me to the. millions of them looking to do it again in e-mail so you just have images to see so if you want. to. know a little bit of the natural it is that i still see

a good deal i should say because the. case is in the n.c.a.a. wrote it i think kids will use it changes allow her.

to be. clashes erupt on the streets of paris during a nationwide strike over president. economic reform. leaders gather in brussels and condemn russia for its alleged role in poisoning a former double agent in the u.k. . and. as the son of the former libyan leader moammar gadhafi runs for president we speak exclusively to saif al islam gadhafi. and the situation you have libya now is the result of the destruction of the states is that without some of the top of the receiving of libya i want to turn back to what's wrote my become a democratic state. broadcasting

live direct from our studios in moscow this is our g international from times glad to have you with us now public services have grounds to a halt across france during a nationwide strike over labor reforms up to thirty percent of long haul flights have been affected and many schools were closed on thursday in march say and. people took to the streets and in paris. escalated into clashes with police. but i want to you know we are not here to be fine but we are here to protest

democratically against the liberal politics of macro wanted by the company because we disagree with the governments we can accept this reforms that's why we are always here a little skittish the most part is the promises he made i think it's absolutely not been fulfilled. during the rallies in paris protesters threw rocks at officers who responded with water cannons are to show dubinsky was out one of the flash points. thousands of people have been marching in paris on this day over national strikes they couldn't verging hear now about the past even where they're trying to make their voices clear to the government of president marcos saying they're unhappy with many of the ideas of his e ministration including the times human rights one hundred and twenty thousand jobs in the five years if he's a president see people say they're unhappy with the working conditions and they want to make sure they're poor he says loud and clear there haven't been this some

violent confrontations during this day and strike in paris now where police clashed with the protesters some suggesting that the police had used extreme violence and some of the protesters had been injured this is a nationwide day strike through the many parts of the country getting both from the civil servants to the railway start to students all here to voice their concerns with this current administration this is actually only so the first over thirty seven days of strikes by the railways do strikes going to take place over the next few months until the end of june the rework is saying this is the only way that they can get a voice is heard and they will speak directly with the government about changes that are proposed to their line of work they've also be must cancellations in terms of planes today and of course many schools have been closed as have been affected

hospital service because of this strike charlotte even skating party paris. meanwhile in the french a city of not a riot police used tear gas to break up a crowd of demonstrators far back with small bombs and flares as well. defense ministry has been caught up in scandal surrounding bridger and. the firm allegedly harvested the personal data data of millions of facebook users and exploited it for political goals is now emerged that a cambridge analytic as a parent company as c l group used to be on the payroll of the u.k. defense ministry it provided the government with so-called psych psychosocial research and a cost of around two hundred thousand pounds and it was even granted access to classified files chris nine him from the stop the war coalition says the revelations are alarming. i don't really believe the ministry of defense should be

involved in a company one arm of which at least in a series of campaigns around the world of propaganda manipulation apparently and political interference secondly i don't really see why the ministry of defense is in any case spending huge amounts of money on. the kind of propaganda work and finally the question of secrecy i mean apparently this company was given access to top secret information and this seems to me to be an extremely. worrying revelation facebook founder mark zuckerberg has for the first time commented on the massive data breach and a lengthy apology admitted that the company's privacy policies have failed he added that the company will learn from this experience to make the community safer for

everybody going forward even though the scandal concerns an american tech giant and a u.k. data mining company there have still been attempts in the media to tie the story to russia or does what i've got to have as commentary. imagine being a liberal a democrat and being stuck in a trump presidency for a year is it must be horrible waking up every day guessing that what russia is songe boughts or hackers have cooked up today cambridge analytic i had powerful connections to candidate trump including one time top adviser steve bannon and billionaire donor robert mercer so presidential son in law jared cushion or and consultant brad parr scale brought in the company which is now accused of utilizing data from fifty million facebook users without permission facebook was how donald trump was going to win wait a sec something's wrong where's the bad guy who do we blame this on than there it

is questions are also swirling about a possible link to russian metal cambridge c.e.o. reached out to julian a songs of wiki leaks seeking access to e-mails from hillary clinton's private server there's no evidence ricky leaks had such information but wiki leaks was releasing e-mails from the computers of other democrats which authorities say were hacked by russians and another trump advisor roger stone great innings i actually communicated with this is what how do you even make the connection what's your logic if someone speaks to a songe their russian agent there is zero connection here other than the word russia being in every other sentence there is only one explanation c.n.n. report must have been put together by a random generator literally this explanation makes more sense than cnn's

report asaad just the d.n.c. oil trump the russians cambridge had because we've got the keywords just fill this. he says with whatever he also directly message to russian hacker he says he did nothing wrong and despite another claim that cambridge had ties to a russian oil company the campaign insists there were never any links to russia are you comfortable that the trunk campaign through their cameras analytical had a connection to wiki leaks. they did have a connection wiki leaks let me demonstrate if you are of average height and your birthday is in july you are closely tied to a sound see how easy it is let's do this again if you like snow and the russians like snow you are aligned with russia or if you want

lots of money and all the guards have lots of money you are susceptible to russian influence it's all nonsense but who cares it's about getting the key words out there about confusing and confounding not explaining or investigating key words people key words the russians everywhere. u.k. prime minister has met with the leaders of france and germany during an e.u. summit in brussels in a joint statement the three leaders condemned russia for its alleged role in the poisoning of the former double spy so again scree paul and his daughter peter oliver has the latest on the summit. briggs it has taken something of a back seat for theresa may as she has taken part in the first day of the european council summit in brussels drumming up support for a united e.u.

message against russia is be what she's been about all day she had strong words entering the southern russia staged a brazen and reckless attack against the united kingdom when his attempt to reach the merger of two people on the streets of seoul spring i'll be raising this issue with my counterparts today because it's clear that the russians threat does not respect the waters and indeed the incident insoles was part of a pattern of russian aggression against europe and its neighbors from the western balkans to the middle east federica maka raney is the high representative for foreign affairs for the you that makes as close as the block has to a foreign minister she said on her way into the summit that she stands firmly in lockstep with london we will also obviously express our strongest possible solidarity with united kingdom after the attack in salzburg the strongest political sign we can give is unity unity and.