there are unfunded liabilities as well of around one hundred trillion dollars right and that is supposed to be paid down by increased tax revenues thanks to tax cuts but those taxes never appear there's never enough taxes even to pay the interest on the debt that's when you get into a hyper inflationary do loop is when the interest on the debt is greater than your taxes taxable base then you have to throw down all pretenses of quantitative easing and just admit you want monetizing debt central bank is just printing and buying back it's own that in a do loop of inflation then you get into what's called a banana republic named after countries in latin america that typically are in the but out of business who end up doing this monetization of their own debt and have collapsed their currencies venezuela argentina come to mind this is going to be contagious and going into america well mark o'byrne. sums that up as we're moving to multiple a world which will see trying to become a more dominant player in trump is exacerbating this trend but you know one way to

try to understand what trump is doing and it's very difficult is you look at it and you wonder if maybe this is his plan as you know he's he ran for president as and that's from west and make america great again and basically retreating from the world this is you can't deny he's doing that when he's evening this thing canada hard in germany and you know these are classic u.s. allies and. you know we get closer and closer in our policies and and trade deals merge closer and closer over the past thirty forty fifty sixty years so he's just like ripping it apart just totally ripping up the paper and throwing it on the ground but you wonder if this is like his nationals policy to basically force others to leave us to ourselves to have a chance of showers steve benen a few months ago and i told him people misinterpret this is not about american isolationism it's about america. being hyper competitive make america great again

means we want to be the greatest competitor in the world that's different than the size of the place in this interpretation anyway we've got to go to the second half down go away much more coming your way right after this break. a plate for many clubs over the years so i know the game and so i got. the ball isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the super money kill the narrowness spend spend be true to the twenty million. it's an experience like nothing else want to because i want to share what i think what i know about the beautiful game a great chance with. the base it's going to.

i could be a. cyber crime war and i. could be one of the best but i never sold harbor for to die. to something that was my brain. in twenty four to you know bloody revolution to to crush the demonstrations going from being relatively peaceful political protests to be increasingly violent revolution is always spontaneous or is it you know we hear it but i mean you know let's put video in the new bill is that idea still in the middle of the former ukrainian president recalls the events of twenty fourteen. those who took. invested over five billion dollars to assist ukraine in these an article that will ensure

a secure and prosperous and democratic. who. welcome back to the cause they're a part of my strasser time now to return to our conversation with pierre genetic is a journalist i quoted in dot com and also you were recently described as the pope of fake news you know what's that all about p.r. i live for a few years and everything goes crazy what's happening. which is one of the that's the most important to return to a newspaper in france so that the pope of fake news because i'm giving financial news to people so i guess your due process stunt pulled perfect news in. in in the new united states yeah i guess i'm going with jesus christ that's my go

to with you know i do that's going to have two popes who i guess were to put already hard no one lives on the cottage right next to the bestseller was his boyfriend or something right is that my story and then they they became very liberal when he moved in i don't know if you are very aware of the pope roots on think two weeks ago and he condemned the pope a development he condemned the credit default swap of mrs black muscles if he doesn't take ten years i saw that i saw that the people who condemned the life master parody of all five years after so where he's the p.r. giovanna make a vatican oh yeah but there's a problem of the fake news but you say that you guys are two sides of the same coin you speak through the oracle of truth and you're both attacked for it and the catholic church is holder derived on a vicious attack on a truth teller from two thousand years ago well. it's very strange but i think the

the reason of the reaction of the pope on this film on the c.d.'s is that they are extremely aware that the situation might might explode. or in the months where they were and they want to. be able to see you we want you know you and we want you in case of the whole thing stops. right wall i mean this is a string territory so let's get into this this is kind of interesting because it goes into the history of banking and finance in europe and the vatican has always played a big role in financial affairs all over europe for hundreds of years and we know that they've been involved in all kinds of questionable deals throughout history and with the financial crisis they can bank was actually involved in some of the lending that went on right exactly exactly remember one thing the banker have left is secrecy i mean you agree with that but remember morgan in milan no it was i think in two thousand and ten or two thousand and twelve maybe. we have in the

combs was do. we call them to say that you know we would drop them. you cannot do business and the more i remember that you remembered oh yes i wanted we covered it on the show of course we spoke with both of remember visa must to pound on the merkel express their cuts vatican city they had like fifty or sixty visa. a credit card term and also in the vatican. for. seven days a thing they were not able to do business at all so that's was the way the banking system. said to the pope well we are in charge you know you have nothing to say right and of course vatican is the next thing location physically in the political sphere because it shares a unique attributes along with the city of london and washington d.c. that they are their own little countries within countries and so they will the norm

is power which is not documented and not well known and they tend to collude they work together washington europe vatican and they wield enormous strength in doing things like assisting goldman sachs. and the destruction of greece where germany ends up making billions of euros that was all orchestrated at the highest levels it wasn't because the country suddenly went bankrupt because a few pensioners didn't pay their taxes it's because it was a thought out premeditated financial assassination conducted by john paulson and goldman sachs lloyd blankfein and a few other bankers and probably in direct compliance and complicity with the vatican yes or no. we can say yes because. divest you can have tremendous real estate mostly businesses specifically in london and i don't think it's the b.b.c. or to the growth of london or who gives new information with no. interesting

investigation on it. the company who owns all this real estate it's in london. to sue madrasas d.g.p. morgan. bank and another company owns on the one to find the company has the same address as the g.p. morgan in new york so that's the connection between the vatican. there are going to be a lot of the i don't know for a number of years now and what you do and what i do is kind of similar and that will pick up the financial times and we will read what's printed on the page and we will read the footnotes and we'll just read what's there though it were not make and stuff up we're just saying what's in the newspaper but it's not in the lead paragraph it's in the fifth or sixth paragraph down and then we just say well if that's true and it was the banker who said it this that particular fact then we also must know that this is also true just because you're adding two plus two and getting four doesn't make you the pope of fake news and doesn't make me some

fricken propagandist for some freak and developing nation it is what it is but facts are facts but this is what they are saying about to write this is with us. this same for all the election of mexico just because i read the financial times oh it's because i'm a reading the words for general right so therefore were immediately suspect because the average dental brain out there doesn't know you know how to look past their i phone and they have no idea about economics or finance and they would give their mothers away for another like on facebook as part of being inculcated in a true immersive fascist state of no economic or financial or press freedom whatsoever the facebook for the world what a facebook do to you. i had sixty thousand people following me on on my personal first book and they just cut it off just before the election in france because i was giving the list to the huge list of layoffs in the inference and in europe

because of of work so when my forwards fold like the twenty thousand they give my facebook back to two and a half years later this is how it works on my if you keep your pages in the spanish or english french italian and chinese were taken off i mean this is absolutely amazing because my booker from clinton in different languages writes that's a male suspect so what is the current state of play here and in paris and france what is the thought you know it doesn't seem as though there is a feeling of a crisis at the moment but tell me you know what's your view of the man on the street what's the what's the thought going through people's head here. at the top here is that. might do something good because they all knew that we're in no disaster financial state so the average french people would say he's

a banker he's a financial from the financial world he might find solution to save us. we're who i don't think he's a he's going to save friends at all but maybe. in one year or one half own people would react to totally differently and you know we have the election in the election next year and you will see a total censoring go through. all internet in france just to help people to be reelected do we know they cannot afford to see what's happened with donald trump though i think others are able to aim at say germany france and the united kingdom because they voted for bracks that and initially it looked like that it was going to go off you know was it was going to happen but now we are almost two years into it and it looks like it's a complete disaster and germany is playing hardball and the great britain looks like they're going to get the worst of all possible worlds and it was

a complete disaster what's the view from here in europe in france toward breaks it own. basically have never been in europe. exactly because they kept their own money don't forget that they were not in doing your resume. so we don't get overly much before you have a control of. the real station european or not to rip and you have a control so it doesn't change anything do business don't don't care too much of what breaks it or not breaks into the i mean the dealings between france and england or you know hundred years or no so but between germany and france that's it's not so very very good macomo and morocco the relationship is. extremely bad because of the migrants do immigration issue vulnerable because they took in a lot of migrants and germany is very vulnerable now. i have seen. of

course that she is in the she might be in danger in the next couple of weeks let me ask that macro picture here you know my theory is that you know you have a situation where trump is trying to downsize the american military budget or trying to save money because america is in debt so he doesn't d.l. north korea they're going to pull out of korea in my view to all the weapons out there he looked at nato and says you know why we have all this military in germany let's dump it so then if the u.s. pulls out of germany militarily and pulls out a nato doesn't that kind of force germany into the arms of russia no not really do germans are really pro americans that's that's for sure ok so let's roll for all of that so you're saying that there is a huge affinity there and they dynamics of all there are two are still in place and so what if let's say the u.s.

pulls out militarily pulls out a lot of hardware from germany what is that a possibility do you think that all the people who think about that know take a look at what happened last week i mean the pentagon's and i don't like. for five hundred special forces in finland or norway and do keep something people and something people grilled. a kind of wall american wall against the russia so what we see from here is that the americans want to have a war there which i know always russia this is what you would see i mean there's no reason to to bring in europe even more time and. if you don't want to you don't want to walk what's the point of it they want to have a war so you know to reimburse the huge debt the only which was good does dept is

to have a war because when a country is in more they don't have a kind of death through to pay fair enough piers thanks so much for being on the kaiser report again thank you max ok well well i think now you know why we're like informal and you know they will tell you it will be a body or a body go back i'll go back about who visit more port you know what ok we've got to go that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank there i guess pierre benedict he's an author of all kinds of books he's also quoted in dot com if you want to reach us on twitter it's kaiser report and the next time. we'll go twenty eight team coverage we've signed one of the greatest goalkeepers of all children but there was one more question and by the way it's going to be our

coach. guys i know you are nervous is a huge star among us and the huge amount of pressure you have to put me in the center of the beach but probably would you. go over great to get. you out of the rock at the back nobody gets. we need you to. go. alone. and i'm really happy to. meet the special one. meet the. latest edition.

believe. that when i let go of their. logo that. out of the mouth of the money they let you in. this was a good time to. try to move there i'm doubting your mom. knows that i want to get my body not why not. stop or x. chanting and they'll all people we believe just a little bit here. all of i can say what the bible said johnny the r.t.l. the moment of motherhood a little because there is a lot on on the way to my building a little of the pins i don't want to put out a lot more already without all the other while that it.

ministry is police forces and city administrations of many countries depend on one corporation that does what mike was hoping to avoid just one from going by some god i'm stumped on this dumbass got the guns not with the eyes that see that he got into the sea at the last possible bribe them proprietary software you don't know the source code isn't that a such a security risk when you have a black box operating in the public eye to microsoft dependency puts governments under cyber threat and not only that he thinks office can put us in mortal nickel softness of the sense of easy selling the sense of the one with all the will fall into almost like a wall in this and all the. problems with. the incident this is the i still.

don't miss the old vision. starting there was a sting of all the fun is having his guards on the five. british counter terror police say two people have been exposed to the nerve agent nava choc near the city as souls break where a former russian agent and his daughter were poisoned few months ago police have given no information on how these the latest victims might have come into contact with the substance. in other news the second night of filing clashes erupted in the french city of non over the death of a young driver killed by police at a checkpoint bus. the world cup knock out stage decided now the first round of quarter finals much is a set for friday we'll have all the on and off pitch news for you later the coming

week. good morning first of the fifth of july eleventh i'm just turned here in moscow you with r.t. my name is kevin owen first and this morning british counter-terror police say two people are in critical condition in a soulsby hospital in southern england after being poisoned by a military grade nerve agent test results from poll that showed that the two people have been exposed to the agent of a truck however i must say that we are not in a position to say whether the nerve agent was from the same batch the scribbles were exposed to. the possibility that these two investigations might be linked is clearly a line of inquiry for what is important however the investigation is led by the evidence available and the facts so we don't make any assumptions or indulge in speculation here so far it seems the only link to the solsbury poisoning is

a geographical one there's a. there's soldiers portadown that testing labs often talked about the couple fell ill in the town of amesbury up there it's just about thirteen kilometers from the city where the former russian double agents ok script problems daughter were poisoned and what with the u.k. government identifying it now as a novacek agent police are at a loss as to how these latest victims could have come into contact with the same substance four months later literally to the day yesterday also officers have no answers as to what the latest victims might have in common with the former spy the locals are understandably worried. ten year old sudden relief victory two seconds away he plays out here with his friends to so yeah. we know it's a major incident in your doorstep you know residential area it's. you just could not imagine this happening all you want to know is are you safe do you have to do anything if your family is going to be saying is that going to be a photo a school a show and it's been confirmed by the metropolitan police that the substance that

caused a man and a woman to become critically ill and spray was novi chalk now the path of both in their mid forty's charlie rally and door instead jefferson there in critical condition as district hospital now the two were taken ill on saturday just eight miles away from the site of the script attack way you can say a poisoned back in march now at first it was thought that contaminated drugs with the cause and this is what they were treated for when they first entered the hospital here last. week started being ready for. the news and has been for many a mile or. so when they start acting funny like rotten against. those red brick. started swimming. around the same. time but it's not just take. just drink police say

it's not known whether the nerve agent was from the same batch as it was used against the script pulse so they're saying that they do not want to for months at this stage but a lot of the local police declared a major incident in the town of and spain which has several areas cordoned off at the moment but on this day the government has called for an american c. cobra meeting where intelligence and security officials will gather to give their updates on the case so next as road goes to if explains there are a lot more questions than answers here right now. so very strange baffling and even big building the media the british press self doesn't have any inkling serious theories as to how this could have happened to people a man and woman one of them a registered heroin addict apparently according to the british exposed to a new york nerve agent and there are so many questions here first of all the

locals are terrified absolutely terrified the british government had promised that everything had been cleaned up that the area was decontaminated in and they had nicked everything clean and now this. to be honest now because straight. retracted say. it was. not a visit being kept in any information or to. be something. we don't know what's going on because. you know you are but children. are the parents and you live right here and you know it was a good thing to ten year old son we live the way he plays out with his friends. and the. assistant commissioner for counterterrorism spoke just after midnight local time to give his thoughts just sum up for us what the authorities saying of the man was the government saying with the council saying well now they're saying

that you know people shouldn't worry everyone to remain calm saying that everything is safe again but you know over the course of the last four months i spent a long time traveling to different laboratories speaking to chemists military chemists learning about the exits it is the single nerve agent it's a group of about sixty odd different varieties that come in different forms powder liquid. cetera second big question is most of the new rich ox decay lose their toxicity very quickly when left out in the open so when they're exposed to air when they're exposed to the weather the rain to water they lose their toxicity they become less deadly and you know that they disappear in this case how could they possibly have been. exposed to the same batch that presumably this couple hours

were in the british police here are drawing any parallels yet the third and perhaps the biggest question is how did they survive they were found again hours after being exposed and this is same question with scripts about how did they survive for so long this is the nuvi chalk's some of the deadly as substances on earth just to give you an idea one drop in liquid for form of a nerve agent is enough to kill ten adults average weight men ten and yet here you have both of them have survived but having symptoms that follows in minutes if it gets in the skin symptoms and can take from minutes to. noteworthy is that no one seems to be jumping to any conclusions just yet the british government hasn't implicated or accused russia of anything for now but you know going through social media for example reading posts and twitter on

various news articles the comment the public now seems a lot more skeptical of this now which our consoles bring makes me think it's nothing to do with the russians but someone in salzburg most things are in your doorstep. sample sent to came from porton down. some of this because the world cup two thousand and eighteen is just too much fun the thing that people want to know in addition to the identification of the particular poitier the agent is what is the motivation. screwball at least had a connection at least he was russian he was a double agent something was. connected even though it was weak who were these two people who were these what is to gain kui bono who benefits who who benefits from this the u.k. accused russia of being directly involved in the poisoning of the scriptures but so

far refused to share any evidence with bear in mind russia strenuously denied any involvement in the incident. government has concluded that it is highly likely that russia was responsible for the act against sergei and to the script. that can be no suggestion of business as usual in relation to our interaction with russia mr speaker this action has happened against a backdrop of a well established pattern of russian state aggression.

there's been a second not a violent protests in the french city of non to over the death of a twenty two year old man shot by police on choose day protesters clashed of the police throwing molotov cocktails and setting fires there several districts police say that the young man refused to comply with orders and it hit an officer while trying to avoid an identity check he was previously known to authorities finally an investigation is still underway marty from correspondent jonathan wanted to post more. about. the. took place in this neighborhood. just hundreds of meters away from the place where that young twenty two year old man was killed.