donald trump says he misspoke during a joint news conference with latimer important which had outraged the us media and politicians most disgraceful performances by an american president who showed cowardice on the world stage should have been i don't see any reason why i would or why the rush for a media storm to. russians defense ministry says it's ready to implement all agreements reached by trump and put in helsinki on how to bring peace to syria. facebook admits classifying thousands of russians as interested in treason for advertising purposes raising concerns over who wants to target session with. my colleague rory sushi will take over the news next hour but for now enjoy the

kaiser report here on our national. but the link i know that it's time for the kaiser report on next kaiser and this is stacy herbert. well you know what in the second half we're still in the u.k. we're in the united kingdom talking to neil mitchell and he's talking about the ongoing fraud wave and all that sort of stuff so i want to look at one of the consequences of neo liberalism and the bailout of banks and the quantitative easing the sort of economy we have engineered since the u.s. went off the gold standard i believe but. you can come up with your own opinion

britain's trickiest economic challenge is back in the spotlight eclipsed by brakes at ted lines and all of the exits from ministers the most puzzling economic problem facing britain is back in the limelight abysmal productivity growth has plagued the united kingdom for a decade sapping its underlying strength and undermining wage growth countless explanations and solutions have been proffered and now the debate is raging again after a proposal that fixing it be made one of bank of england's core tasks before i go on i want to show you that it's actually been way more than a decade that productivity has been collapsing it has been collapsing since about one nine hundred seventy six i put that when the u.k. received a bailout from the i.m.f. at three point nine billion dollars in march of one nine hundred seventy six but that's the worst whereas the worst right now in the united kingdom since seventeen ninety four probably ten we solved in two words to work problem solve raise wages

raise wages. you know what is a productivity is g.d.p. per man hour raise wages and now you've got more g.d.p. because you've got more people spending money out there which is how you calculate g.d.p. so the a way to raise your g.d.p. is a give people more money to spend money and therefore you're going to get more g.d.p. per man hour that's it but of course it never happens because the worker the wage earner of the surf the subject of the british crown is considered to be expendable and they get nothing i think that could be more of it than just wages because if you look at it you know i posit that it's you know it's been a lot to do with the demoralization that follows the precarious introduction of neo liberalism and the the end of there is no such thing as the. the fact that you're not part of anything you're just one job bag of donuts up against these nameless

faceless shareholder corporations that it's you against them and i think margaret thatcher your prime minister aren't going to fight for you it's you against them and to put this into international context by the way of just how bad the situation is in the united kingdom let's look at their arch rival france to put it into international context it takes a british worker of five days to produce what a french worker produces and less than four growth in output per hour has yet to recover to its pre-crisis trend and many economists fear that leaving the european union could see britain fall further behind by depriving the economy of productivity enhancing foreign innovation and investment and i bring up france because not only did they bring a founts and that basically the french can work one less day a week and still produce as much g.d.p. as the ordinary british worker but the last time that productivity was so bad

in the united kingdom was seven hundred ninety four and when i looked up the history of seventeen ninety four great britain it does say that not only did they rebuilt theatre royal jory laid open but british troops captured a march of seven hundred ninety four martin eek from the french in april they signed a treaty of alliance with prussia and netherlands against france and in june they captured port au prince in haiti from the french so they were kind of at war with the french back in seven hundred ninety four but who's getting the last laugh right the french unions the french because the french are out there in the streets fighting for wages so their productivity is higher expressed as a fraction of g.d.p. look i mean in the britain in the united kingdom to solve this g.d.p. problem they want to include prostitution. and drug dealing in the calculations

of the government to come up with a g.d.p. number that's desperate they are to avoid just giving workers livable wages i think it's just the motto by which your society and culture runs by so the french actually have one of the lowest union union indications around the world partly because they go by egalitarian gala today for eternity liberte and when we've been there you and i lived there for many years and what we saw was that if one group of workers was on strike other groups of workers would go on strike to support those not that their union told them to but that they as individuals realized that they are society against their government the french government is always afraid of the people of france the opposite is the case in most other nations that the people who are afraid of their government and here in the united kingdom i would say that since the introduction remember i say that the collapse of productivity started in one nine hundred seventy six when the i.m.f. came in and what this i.m.f. bring but structural adjustments and neil liberal policies and they say outsource

your government outsource privatized all your ing your resources and get rid of society right but the as you point out the union membership may be a percentage basis smaller in france but they are is solidarity and this is across all party lines so they're out there fighting for what they know is the important thing higher wages in the u.k. of course they have been gutted any kind of agency and unlike france russia and america there was never a revolution in britain true but now let's look at this productivity situation and just how bad it is have stark it is so the problem is of course not unique to britain productivity is going slowly everywhere since the financial crisis holding back wage growth rate none the less than south in the decade before the two thousand and eight recession productivity grew by about two percent a year since the recovery began its average loss and paul. went two percent with

only a minimal improvement expected in the coming years according to a b o e bank of england analysis worker efficiency on a ten year rolling basis is at its lowest since the industrial revolution. you know like one one obvious solution another obvious solution was they were going to build a rail system from london up north and connecting the country into becoming a more dispersed economically in terms of opportunity and they shut that down because they don't want anyone in the north to have jobs they don't want anyone else out of london or the city of london to make any money whatsoever it's lords and serves to create the there's a queen and then there are subjects to stand in the qana me that we're we're used to talking about or again the thing i want to point out is that something happened in two thousand and eight and something particular happened in two thousand and eight you and i have been covering this on keiser report since two thousand and eight what happened in two thousand and eight is the global financial system collapsed in the united kingdom the banks were bailed out by the taxpayer so the

united kingdom came in and they rescued royal bank of scotland they rescued lloyds they rescued northern rock all these banks that collapse they took care of them they took over and they all therefore they have zombie banks they have zombie companies they have the quantitative easing in negative interest rate policy insert all that stuff is kept zombie company but as you know michel say in the second half royal bank of scotland as part of their belly they turned around and they killed tens of thousands of british small to medium enterprises the s. i mean these and smash and grab and took that money for them some exactly why they don't have any friction growth in wages because they've got predatory oil bank of scholars it's right in the name isn't it yet it's not just wages g.d.p. it's output is actual things that you create cars. you know products widgets televisions furnace is lights. art finance like things like that

they are producing less the ordinary worker goes in for eight hours a day and they produce less the other thing i think could be part of it and they're still all trying to figure out and the bank of england and all these think tanks have thousands of economists on the payroll but nobody could figure out what is going on why this collapse of productivity the other thing that has been part and parcel of the past decade is the introduction of things like air b.n. b. and you know or remember a lot of drivers now work for or in london but where does that g.d.p. get counted for example is surely their wages that were driver wages those but i know in europe were operates not as a taxi service they say but they're algorithm their software and if they said in the netherlands so is netherlands capturing capturing their g.d.p. so there is a lot of you know basically london is a laundromat and it is a butler

a global butler so how are they capturing where is the g.d.p. actually being captured where is the ultimate g.d.p. being captured of the transportation system sold to governments in europe yet they get into government but the french government owns the british some of the national rail infrastructure and people in britain put their car in to go use the rail system the money is going to france yeah it's going to the electric grid as well and the electric. front so the government just sold everything off they sold the cow and then they're buying the milk. that they're not the son of his having the the milk from the cow and why because all of the rich list keeps going exponentially higher they're just grabbing grabbing grabbing because the average person the subject of the queen has no agency they're for serfs again it's the worst in seventeen ninety four back in seven hundred ninety four things weren't working so good for france the united kingdom united with all sorts of nations around the world and. attack crabs here france is getting the last laugh there they

get to work one day a week less and on top of that currently in collapse shows flaws in government outsourcing this is the way the u.k. government looks at the situation they basically blame the government rather than karelian and these outsourcing companies you know this is part of that neoliberal i.m.f. restructuring sort of thing is get rid of your public services hand into the private sector to these groups like karelian who are supposed to deliver efficiencies and all that sort of stuff but the government's overriding priority for outsourcing is spending as little money as possible while forcing contractors to take on acceptable levels of financial risk the commons public administration select committee said as a result of the government's preoccupation with costs m.p.'s found that the government has had to renegotiate over one hundred twenty million pounds of contracts since the beginning of the twenty sixteen alone to ensure public services would continue so everything it just said sounds dire amplify the times to what the

introduction of one simple word exit because the only thing hiding this catastrophe unfolding in britain for the past fifteen years or so was its connection to the e.u. and the ability to have its own currency and yet passport rights into the e.u. they take those away and you have essentially greece on steroids and all those banks in the e.u. in america are going to attack the u.k. unmercifully and drive into bankruptcy yeah and a lot of people don't realize that one of the opt outs that the united kingdom had was part of the why they why u.s. banks and other global banks wanted their passport and rights into europe when the u.k. allowed cab tour so i could sell fraudulent products it was up to the customer who purchased your product to determine whether or not it was fraudulent whereas in europe you have to actually act on behalf of the you have to basically admit whether the product is fraudulent you have to act on behalf of your client i'm going to. i really am except for the marmite but it was a fine country for

a thousand years and then it kind of peter the way anyway we're going to go to the second half as mention neil mitchell whistle blower guys going to blow the roof off royal bank of scotland like we've never done before stay tuned don't go away much more coming oh wait a minute i have to stretch as i know this for a second that to be more productive to one ok don't go away stay right there. seems wrong. just don't. let me. get to seem. to stay active. and in danger because betrayal. when some find themselves worlds apart we choose to look for common ground.

you know world a big part of newton's law and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bats and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. have been saying the numbers mean something they matter the us is over one trillion dollars in debt more than ten by color crimes happen each day. eighty five percent of the global wealth you longs to be ultra rich eight point six percent of the

market saw a thirty percent rise last year some with four hundred to five hundred trade per second per second and bitcoin rose to twenty thousand dollars. china is building a two point one billion dollar a i industrial park but don't let the numbers overwhelm. the only number you need to remember is one in one business shows you can afford to miss the one and only boom bust. welcome back to the kaiser report imax guys are you know on this show we thought a lot about bank stars we hate banks errors of years now oh of banks thursday and

whatnot there is a man who has done more than just talk about it is actually going after them they'll walk on back to their cars the report could see it's been a well neil mitchell scottish businessman he's taken down the backstairs we've been on the show before even set up the attack on royal bank of scotland and you have not given up this is amazing so you really some documents related to lloyd's ex boss tell us what these documents were and what they prove. an internal officer of lloyds bank was asked by director of risk at the bank to investigate a few years in the bank she. must attend she did an amazing job wrote one hundred sixty page report. was then fired by the bank was then absolutely abused and or five years they have absolutely destroyed. she deserves all the credit for

it the bank the government the regulator. you know we have the support for five years it's been kept secret police to put a copy. each and seize a five piece but it's never commit the public domain the victims of never seen it so so r.b.s. in their option or the g.e. group whereas now we know that of ali and torching and crashing blowing apart thirty thousand up to thirty thousand british businesses to to seize those assets it's part of a orchestrate it smashing grab of fine. natural terrorism ave is that word in a while but that is exactly what it is so now you've got the smoking gun err well the thing was that they regulate to spin investigating r.p.s. geology since two thousand and thirteen when i was last on the show and they

finished that a port nearly two years ago and that report was suppressed too and i managed to get a copy of that in favorite of this year and i leapt out on to. the internet so now we've got both reports it for the benefit of the victims and these are two reports that the british government never wanted the people of united kingdom to see and they have kept them secret for all this time and i felt that when i managed to get copies and i worked very hard to get copies of both but when i got copies it was in the public interest it was in the national interests of our country great britain to get these reports and to show exactly the extent of collusion between the government the regulators and these two banks and it's no coincidence in fact it's quite deliberate that it's the royal bank of scotland and lloyds each course. these are the two banks that were built so it's different state below it's the state sopore the regulated by the state the majority were majority owned by the state and it is your right to see a state sponsor of terror some. state run institution state controlled state

funded state controlled orchestrated the b.b.c. yeah the state funded broadcaster as also got a little slime on their birds there the b.b.c. got a copy of this one six six in august of last year from a whistleblower and when the. on the news and six o'clock on a bank holiday weekend. they were then threatened by as you know a state broadcaster then threatened by the state regulator the financial conduct authority and the individual journalists were threatened with. arrest and criminal prosecution and jail time for if they deal to publish anything in this report or leak it. that's the extent to which our government and regulates us of going and trying to cover this up so just to make clear now just got a little bit more detail now they have the document what the lawyers and. go into that a little bit what what what is the what's going on but what exposes is

a forty billion pound black hole in that accounts it shows that fourteen billion was lost to shareholders in the rights issue it sure is that the damages from the each course reading criminal investigation isn't a few million as the bank of always said it's actually over one over a billion there was even an examples of money laundering the last one was eleven million pounds that were not not reported to the regulator so that a poor shores that had this information been feeling available to the stock market that the forced marriage of of lloyd's and each horse could've taken place and the and the rights issues should not have taken place right so this is a shotgun and wedding more or less that was there it came out of that crisis yeah as the state's trying to scramble to keep their bodies in the city hall now even though that meant huge sacrifices by the taxpayer was forced to bail out. r.b.s. royal bank of scotland which is still majority owned by the public i mean they were bailed out b.s.

was bailed out with forty six billion of british taxpayer money these meet cumulative losses over the next ten years of fifty eight billion there was a two hundred fifty eight billion toxic asset insurance program that the government backed that the public don't know about. and you know this this bank continues to suck up. taxpayer money and all the bank. it seemed to be well all the only government now wants to do is they consider a basket case and they just want to sell the shares and try and bury the entire problems the bank still has right to be fair now so far as british media goes it there was some reporting on the server at channel four johnstone. at the b.b.c. once again it's a state run state controlled propaganda outlet they were very loath to actually reveal the documents they had in-house so is there any justification for them not prevail as ever made listen last week when when they knew that i was about to leak

the turnbull report they promised to do something quite spectacular on the b.b.c. news they filmed a police commission osan to other people and then at the very last minute yet again the story was pulled off you know a lot and as i want being impartial enough is enough the thing about that made me say if they don't like the answer you have any more impartial marcelle then i steverson of the fox news is fair and balanced more impartiality until you say exactly what we want you to say which has been my experience with the ok so you've been going after this for years has the u.k. banking sector cleaned up at all sense of the that last financial crisis no we need we still need significant changes in law and regulation and in practices and most particularly in culture what are the next steps that going forward do you feel at this point are you actually making some we're winning now finally cementing some points here where where are we on the spectrum there well since we last spoke and so in the last few months and certainly since the leaking of documents sentiment has changed remarkably dramatically we've now got

a situation where six hundred fifty m.p.'s in our parliament across parties including backbench government m.p.'s talk of this is being the one issue that unifies the house six hundred fifty m.p.'s absolutely not on the stand in in northern ireland and indeed in in the republic of ireland the mainstream media get it banking and business journalists get it they don't necessarily. a portrait. would you say these m.p.'s are now aware of it i mean that there's going to have another inquiry that has a commission about discussing the possibility of an inquiry then they'll have an inquiry and then some lord from sun r.b.s. will have to get up there and threaten the everybody on the committee either do it we say or we're going to have a cue from the land that we own because we are not a land because our monarchs and aristocrats and there is no democracy in this whole island they are under a cloud somewhere in the pacific and it can all go to hell and that's the message that comes out of parliament every fricken day at the end we're going to be a different male i mean you don't add it up because you're

a scottish strike and you're absolutely right what we're seeing is the traits you select committee have done nothing they keep having interviews to keep publishing letters but they don't actually take real indirect action there are committees you know having workshops and and and talking shops and of the completely lost focus and my absolute focus is getting justice in compensation for the victims of all of it terms of r.b.s. and and lloyds bank trying but we are going through the political muscle nations what they need says the prime minister to order a public inquiry into r.b.s. in a public inquiry into lloyds into management and misconduct past and present it also requires criminal investigations it also requires what i call personal jeopardy we no need to start making individual identified bank us in r.b.s. and lloyds preciously responsible with pestilent going to belittle the are named in

the lloyds report that are lists they've actually listed the guilty and a hold on those three things or talk about their first as the inquiry what you just talked about is a dead end with us in this country number two would be criminal prosecutions they go to great lengths to prevent any criminal prosecutions any criminal indictments whatsoever because the law works in their favor and all the speech laws work in their favor if you even suggest that they should be criminally indicted you. and be charged libel taken to court and thrown in jail by a banker because he doesn't like being called criminal you know they are criminals so the third thing that would be public shaming is that that public shaming is there any appetite for that and do you think that might ever happen where you're start to see people publicly castigate these these these you know as a threesome i was just saying that oh the breakfast not going well you know we need cooperation against terrorists and like to release a baby put down the high heels get into some sensible clothes and realize that the bankers are amongst you you're looking at a whole parliament fall of them got the terrorists are here do something about an

hour shut up now we should have we should have some senior bankers in r.b.s. and lloyd's publicly shamed named and shamed we should have them in court whether it's through police investigation or private criminal prosecutions and ultimately we should have some heads on spikes i would say the total london that's what it's going to need we're going to need the chairman and chief executives past and present of both r.b.s. and lloyd's taken their job and unprosecuted that's what we have to get right ok now ok the conversation is getting to that level of intensity where we speak in these terms that are you know violent and of course we cannot promote violence absolutely not however they historically speaking it's as if there may say this if there is no deterrent for criminal behavior don't expect the criminals to change their behavior and there are no adequate deterrents in the united kingdom to stop

financial terrorism and there is nothing on the drawing boards today so the people and stop just the banks victims this sixty five million british people are being victimized dalí by terrorism and theresa may does nothing about it that's absolutely correct and you said earlier thirty thousand most mccune in at sea chief executive of r.b.s. is written. two partly sixty thousand plus british businesses that may have been under fire when affected by geology we're talking about hundreds and hundreds of thousands of job losses we're talking about up families and whole communities being affected we're talking about considerable ill health home repossessions and then fight dozens and dozens of suicides people dying in themselves because because because they've been destroyed by the bank's disgusting absolutely disgusting dilemma we got to wrap it up there before i throw up as usual when talking about the british banking system when the prime minister but male you know i got to have

a tail you are keeping it real buddy keep keep down it ok do it again because you're scottish yeah thanks well that's going to do it for this edition of the kaiser report with me max kaiser and stacey everett like to thank our guest male mitchell if you want to find us on twitter don't bother until next time by all. means do so. put themselves on the line they did accept the reject. so when you want to be president. wanted. to go and.

see what the before. you get. on the interstate or or reasonable . right we're all set to start to strive to get ice to loosen up in the studio has a signal. he's not going to talk about the no fly list just maybe right after the mars explorers one who would have their own unique. record. to say little feet. ok.