leeward this is downtown los angeles california it is now become not so much just skid row it's also hipster hill you know everywhere there is skid row in and the west coast of america you also have hipsters seattle silicon valley and downtown l.a. you know one of the guys leading the whole silicon valley wave of hipster mills's google's eric schmidt accidentally discovers labor unions so you remember last week eric schmidt c.e.o. of google he tweeted let's find ideas that can increase the wages of one hundred thousand low and moderate income workers by at least ten thousand dollars delighted to support call for ideas for a unicorn for the middle class j f f's one billion dollar wage gain challenge now it's interesting because of course google and silicon valley exist due to government subsidies government subsidizes all the preliminary the primary

technology that goes into an alpha component or darpa of course is the basis for google and so these guys are riding on top of government subsidies government essentially has provided this guy's with a guaranteed wealth and now eric schmidt thinking that he is invented this somehow magically from the unicorns out of the lollipops is talking about well how do we increase wages and again as i've said on the show many many times that yes unions are there to provide wage protection for workers and there's a choice people have to make either they are for unions and for centralized banks to provide subsidies to eric schmidt and google or they have neither of them neither unions or they don't have subsidies from the government for eric schmidt and subsidies for the business through social bank gifting of money so you have to pick your kid to serve workers exposed to the market without. any subsidies

whatsoever but google apple and jeff bezos announced got a huge subsidy from the government for a song like lives in la la land of unicorn's and asked the question what can we do for the workers that were disenfranchised and who are dying on skid row who are becoming alcoholic drug addict on our doorstep who are such a nuisance you know he doesn't understand the first thing about economics but he loves the free money he loves the handouts well he loves to feel good about himself a lot of people in silicon valley like to feel good about themselves but when put to the vote like recently in cupertino where apple is based there was a vote to have some low income housing and there were the quotes from people who attended these are probably very well meaning sort of people probably hate and he started trouble voters in the deplorable is that voted for trump or are people who don't like you know. all this sort of situation of our economy at the moment that they themselves are standing up and saying we don't want any poor people here

because then it will bring in the an educated and we don't want those people here they're only people and they have existed on this planet for many hundreds of thousands of years without this wealth and income disparity that we've seen over the past two hundred years engineer by people like erickson peaceful protest and religion i view our intent to capitulate to censorship and surveillance demands in exchange for access to the chinese market as a forfeiture of our values and governmental negotiating position across the globe paulson told his bosses right away putting into cultural silos intellectual silos being essentially this is a postpartum lab test tube baby other words you're born. through means that would be natural the zygote is created in the womb you're birthed into this reality a test tube baby is done artificially with china and google want to do our pose.

part of the test tube babies they want to take the entire population and turn it into a glass wall blinder blinkered non understanding non seeing blog that they can see down there call it like ducks in a fog while farm and then steal the liver and kidney for you know a few bucks right there treating us like jungle now this should be discouraged obviously because it's a direct repudiation of every single word in the frickin constitution this is true exactly this was happening in china i don't know if they have a constitution but we do here and the fact that most people are very happy to get outraged about stuff that happens in other countries so i see what the intercept is doing that most you know right on sort of right thinking people in silicon valley and new york the likes that watch rachel maddow might be like down with china down with the censorship down with the surveillance and yet one zoos this is

also being an active here and that well the very fact that you know certain people are blocked from twitter and disappeared into a memory hole like perhaps people in china feel the same here like rachel maddow and anybody who sort of watches her will agree that we don't want to see any alex jones videos well maybe the people in china feel the same thing about the people of that who are disappearing there maybe they feel the same right on as rachel maddow and that feel like what we need to disappear that person online because we don't want to hear their opinion and of course it's happening here you know the five i was program the five countries that a days in mass surveillance and we know that the government is surveying americans in real time through all of their operatic is through all electronic communications and this is a fact so there's no supposed to benchmark your policies toward a dystopian nightmare like what's happening in china so like the people in the washington shouldn't slip. over in china say that's where we want to go we want to

go toward a social credit score where if you blow your nose at the wrong time in front of the wrong person you can get on a flight and go somewhere yeah but here is eric schmidt one of the leaders of the resistance we saw the videos from google after trump was elected like how horrifying this was but here they are working with china on enacting authoritarian dystopian future policies and they're happy to do that so it's like well even if we have the principles or we don't so either you shut up about authoritarian ideas in one country and. if you are happy to facilitate them and another eric schmidt is addicted to spying you know stone is an alcoholic or to doug drugs they're in denial right they they are they don't see themselves as having a problem eric schmidt has a very deep rooted psychological problem is addicted to spying on people and he's trying to be in denial by saying he's justifying it and saying somehow he's not he

doesn't have this problem and he's a social pock pock marks on our society and he looks at it is look at the guy and you can see that those guys a blister an open sore on the american economy and he's a bull glistering plus phil nightmare nobody is. you know extracting from our public debate sadly and then finally i want to look at this one bit of the story that is remarkably so where we're able to say oh my god this is poor fighting this happens in china but the exact same thing happens here paulson said that the dragon-fly system that google is developing for china contain code to ensure only chinese government approved air quality data would be returned a response to chinese user search the country's authorities have a history of manipulating pollution data raising the possibility that google would provide chinese citizens with false information to downplay the amount of toxins in the air so look at what happened with fracking so in north dakota for example you have to dispose of the fracking water and the fracking why. or has is highly toxic

you produce four gallons of toxic water for every gallon or every barrel of oil produced you produce four barrels of toxic water well once there's so much nuclear waste in there that radioactive waste that they. just do you might well get six weeks left and the groups that motivated this it's a very active young people it's crude there that have mostly million you know there were down there every day and city hall trying to get them to divest from wells fargo and the city city council agreed but then the question was where do you put your money another wall street bank which is sort of defeating the purpose so so they got the idea of the public forming a city owned bank and that and the city council got behind that which is great where we're excited that they're behind it's short and probably bank this group has no money so just the hoops you have to jump through to do political things here

every campaign committee is quite a bit of a loony ill's they got disgusted with wells fargo because wells fargo been doing some it shows just things all across the board they spectacularly. unbelievably bad so then they're thinking well you know we don't want to go into another wall street banks so we'll do you know is there another option and then they discuss this public bank idea and then they found ellen brown the words you've been around doing this for a while how did how did you get into yeah well a year ago they had it when i mean one person that was involved with them knew about public banking and they had an event and they had me speak and they had some other probably people speak and that generated interest. when someone else is saying these are twenty year old twenty twenty the twenty nine or thirty five hundred thirty. so this is all new to them. because you've been writing about this

read years and so do you feel you know having seen this savant for a while that this is going to finally be a push toward this very very necessary public bank facility opening up ellen we definitely need to push from the ground from the grassroots and that's that's what they're bringing i mean we've had been we've had over thirty bills that have been brought at one sort or another in cities and states across the country but what you need is a constituency that really wants it because you can always the legislators can always find a reason to say no but what's impressive weight is when you come up with some legislators that will say yes we should do this and what motivates them to do that is is that true it's really pushing it so yeah from my point of view it's like thank god nick troops arrived three for work and on this for a long time and now we actually have a groundswell from the bottom so people are starting to understand that concept like cut out to wall street with middlemen and you save

a lot of money i mean it's just i.b.s. that if we do it ourselves it's like a cooperative that if we do our own banking which is not that complicated these days and talk and pewter eyes then you can share the profits among the owners and your interest and most interested parties would be the citizens of the us and not only do you save money but you get back to power you get back control over who gets credit and who doesn't that are their money going to hedge funds and not going to local business you can direct where your city needs it or you can just refinance your own probably and the savings can go to other things like affordable housing i guess affordable housing number one right now i know they for what voters are worried about yeah i mean that's an important point to make is that it's not about being a bank it's about being predatory banks the function of the banks it's as you say it's like a utility it so it keeps money on deposit at a certain interest rate a lens at a different interest rate. and they make

a spread and that spread should be in keeping with good business practices and that's that's it that's what a bank does is no more no less what's happened is that there in this country the wall street banks as you point out have been able to co-op in attics all of the banking facilities all over the country and use those deposits to make incredible risky bets and when those bets go bad they get the government to bail them out right so then we get messed over in many many instances so having a public bank would be great as the bank it also would provide competition right because now those banks like wells fargo and others who are just engaged in the most heinous pilfering and larceny i mean they would have to double check back and say maybe we can't just our business model can't be to just keep ninety cents of every dollar and fraud we commit pay ten cents in a fine right they've got to change their behavior. yeah and i think particularly where many cities have. exploited by bit by these interest rates swaps which

waiting for. the reason. we have to pay so much to wall street is because the federal reserve intentionally dropped interest rates to zero to protect the banks so the central bank is working for. it's not like your and your insuring against an earthquake or sound right let's talk about interest rates drop for a second so these sharpy bankers on wall street they arrive in a municipality many times like matt taibbi has covered in his excellent work for rolling stone and they'll say you know here's a product that will give you protection against rising interest rates and they're like oh great if interest rates go up you know we're going to be protected with this great product what they don't mention is that you're not protected against interest rates going down and that you going to pay more right now you end up paying more so interest rates low and behold they keep going down not because the market because of demand for credit still there because it's. they're in cahoots

with the proprietors who are putting out the interest rate swaps it's a complete racket great racket tearing right as a card. cartel and how do we break out of that i mean control the country for centuries their famous people have said that and we try to regulate and it doesn't seem to do any good so our on the real action is to just move out of that system and set up her own system that the same system is not a bad system banking is that the way banks where it's a good thing it's just the fact that it's own trolled by. bread it's fine but it was full of toxic sludge it's ben i mean there's just it's product is full of toxic junk north dakota is doing something as well a public bank initiative how is it different what's going on there and bank of america credit was established in one thousand nine hundred so it's one hundred years old i started writing out of that in late two thousand and eight because i knew they were the on the state they had their own banks so i was watching them and

it was the on the state that escaped the credit crisis the on the state that didn't ever go into the red they had the lowest unemployment rate and the low is for a closure rate the lowest default rate the most banks per capita they didn't lose any banks during the crisis so i started writing about it generated you know some interest but. when it went their model is by law. states revenues are deposited in the bank and then they use that credit to try to leverage into the local community but they actually partner with the local banks it says right in their charter that they won't compete with the local banks they partner with them so the local bank is like the friend. gets the customer so one of many ways in which the bank oh and to make it is very profitable i mentioned that there was an article in the wall street journal and twenty four a team that said they were more profitable than j.p. j.p. morgan chase a. goldman sachs. so here you have an exemplary example of

a bank doing what banks should be doing in north dakota and during the crisis it did not suffer it did not require bailout it remain it's up and running it is profitable so i guess you're benchmarking him out as an example for the projects here in los angeles right where we get pushback on that because if you both there are one hundred years ago and we had this matter north dakota etc but it's an excellent model and you can like germany where that has that strong spark as and. half their banks are publicly on and are in the public sector and they hold that one thousand forty five of their kind of me was absolutely crashed and now they're trying to be kind of mean year how did that happen that they claim a lot of credit for that so many mouths china as a good model ok. let's talk about win them in a minute or so in here so janet yellen member former fed chair she's talking about

the next big financial crisis she's just suggested when it happens the fed to start buying stocks in the open market. i guess what we've seen a switzerland in other places yeah i thought this well shocking him by a tax and perhaps the market first it makes their policies look good when we know that their policies really didn't do much because everybody points to the stock market is this is this is a measure of a good economy we are not allowed to buy or sorry our central bank is not allowed to buy stocks but the other central banks do many of them do and they're all in cahoots as we know from you know me but i know there's so so the fact that they are propping up our stock market makes our central bank like the whole concept is shocking because one of the biggest cheryl is an apple computer is the swiss central bank for example for example yes so and they could buy up anything they want in theory because they've got the power of the printing press and they. they

have already declared their independence from government they're not working for us who are they working for them they're working for the banks and for this private international cartel. banking big banking interests which goes back to. the euro quickly wrote about it in the sixty's that their bank for international settlements was. cartel central banks and their goal was actually to take over markets and control and actually buy up the world and make it look like governments where it's free money when it's actually the banks that were issuing money brave a lot of the stuff they talk about and write about for years you know it's really coming to the head really coming to fruition i really see the obvious manifestations in these sky high stock prices in the bond markets and in the financial chaos that's going all over the world this is all been it's written about in a web of debt all in we have to read we have a debt you would be surprised if any of that was to say have events coming up. i

have three present conference and two presentation and some ways of where we find you are. right ellen brown dot com and public thank you to that. public bank oh argue with me because report ok again thank you is going to do it for this edition of the kaiser report with me max geysers days you're like thank our guests helen brown author of web of debt if you want to catch us on twitter it's guys report until next time bio. pic to dish was supposed to. be just a. simple yes so when you if you. look with a shilling it's with the study says those two. do you think it should be your view

of the state so to. vote of shipping. most of those who booked it to the post in your book are still missing you know so i do know what the move. was the latest news in the for us. boise he writes the full yet of pluck to do some. research through some really stupid. it doesn't. show it's the same wrong. rowles just don't call. me old beliefs

yet to shape our disdain comes to educate and in gains from it equals betrayal. when so many find themselves worlds apart we choose to look for common ground. the ways of the united states is dangerous for most of the illegal immigrants. crossing their fingers to us just a little simple they want to take on most wanted us to some just about us but if many of them look for refuge in the so-called sentries sides of the draft used to share information about undocumented migrants with federal authorities the best person asked bank of mom. was you know you don't have it at best i'm not getting a lot of class and i want that. they have water they all choose to stay in the country with donald trump in the one time. the to

be back to the old. deal with the push to put in. a few outlets of popular culture for. the was. was. police in france are angered by plans to arm private security officers as the

country wrestles with improving its security situation. here is a real risk with these agents not having enough training having a weapon in your hand means the possibility of taking a life is out of the question. plus the outrage over brett kavanaugh supreme court nomination which has divided america shows no sign of dying down but some supporters of it kind of the see even being made to apologize. and saturday night sees the most anticipated mixed martial arts fight of the year as irish superstar connor mcgregor takes on russia's undefeated. in a las vegas we spoke exclusively to habeas father ahead of the clash. everything that we wanted to see.