for centralized banks to provide subsidies to eric schmidt and google or they have neither they have 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 garrick schmidt google apple and jeff bezos announced got a huge subsidy from the government for a song like lives in la la land of unicorns 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 addicts on our doorstep who are such a nuisance you know he doesn't understand the first thing about it omics 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 that the quotes from people

who attended these are probably very well meaning sort of people probably hate any sort of trouble voters in the deplorable is that voted for trump or are people who don't like you know it's 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 three hundred years engineer by people like eric schmidt who is an engineer who was engineer and wealth inequality has as a means to an end now if there's going to be a rectification of this then there needs to be an address on the a fundamental underlying reasons for all of this but are people willing to accept that reality. no they're going to train more computer algorithms that take them

away from reality well but it's also an overall problem with our economy is like instead of just fixing the health care system we have a system whereby you have to go to a website and beg for money and haven't convincingly distressed story and have a compelling story that people might give you money here instead of just fixing. you know unionized and more workers or doing something different it's like well let's appeal to me eric schmidt and if i like your story i might give you a billion dollars but also the fact that he misses unions that many people you know obviously thousands of people tweeted back at him yeah i think you just discovered unions i want to look at another sort of a union that eric schmidt himself belongs to and this is a headline from two thousand and eleven steve jobs mark zuckerberg flanked obama at tech titan dinner so this is a photo from january two thousand and eleven sitting next to obama mark zuckerberg

steve jobs just a few months before he passed away and eric schmidt over there he wasn't yet c.e.o. of google at that time but he was obviously part of this union of people who get to go to the boss of the government budget especially the defund budget in terms of the allocation for darpa and all the investments in silicon valley so they get that's like a union there that collectively got to sit down in a room with the president and negotiate basically you know cushy jobs for themselves. contracts right in other words for that would be a cartel this is a cartel and no let's punish the opec energy cartel look another way that you can rectify the situation is that everyone's got a social security number in america simply put one percent of all fronts that are under written on wall street all stocks all bonds all come. if you swap into social

security and give all americans a chance for just being in the economy that they themselves are building and paying for through their taxes why should americans work after taxes stolen at obamacare stall that have through the central bank that money transferred into the pockets of a few cartel members to create wealth and income gap social unrest social cohesion risk and wide scale poverty why should that happen doesn't have to happen your engineering skill to do something aside from lining your own pocket in an ugly self-interest and selfish way eric schmidt or move to somewhere else we don't need to in this country but actually speaking of living somewhere else google is working on contacts with the chinese government that has been in the news quite a lot lately this is a project called dragon fly so former google scientists tell senate to act over companies on ethical and unaccountable china censorship and a scientist who quit google over its plans to build a censored search engine in china has told u.s. senators said some company employees and he said senior employees may have actively

subverted an internal privacy review of the system jack paulson resigned from google in august after the intercept reported that a group of the internet giant staffers were secretly working on a search engine for china that would remove content about subjects that's just human rights democracy 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 post.

artem 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 on a flood wall farm and then steal the liver and kidney for you know a few bucks right there treating us like joggle now this should be discouraged obviously because it's a direct repudiation of every single word in the frickin constitution this is a new strews 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 zooms 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 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 massive surveillance and we know that the government is surveying americans in real time through all of their operad 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 look over. 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 in china on an acting authoritarian dystopian future policy 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 about all i care to doug's 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 he can see that the sky is 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 bed of the story that is remarkably so where we're able to say oh my god this is horrifying that 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 water how. as 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 basically just. deep cold memory holds that information they just they got rid of the laws against it so they just said ok i will allow it so i'm just saying we have the similar laws we just disappear in memory hole facts that are you know contrary to profit we you know to corporate profits so we're saying well ours is capitalist authoritarianism there is communist but it's a classic example of somebody your face and tell you it's raining all right well much more coming your way right after this break don't go away.

don't accept the story that's just the right thing to do because it's. too. late to do it. you know but this time i. was i'm somebody how does know it's a mess you never know what's happening and whether they're shooting whether it's here. mistrust the tibetans are. sad but. also to give me

a local to seek you know that is what i'm going to consider the facts and muslims of all these clear when the. it's seemed wrong. to me to. get to shape out just to come get educated and in detroit because betrayal. when so many find themselves worlds apart. choose to look for common ground. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer and it would be the death penalty just because i think that's the parent thing the right thing research shows that for every nine executions one convict is

innocent the idea that we were executing innocent people was terror well a year ago they had what 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 are saying these are twenty year old twenty twenty to twenty nine or thirty thirty. so this is all new to them because you've been writing about this for years and so do you feel you know having seen the savant for a while that this is going to finally be a push toward this very very necessary public bank facility opening up we definitely need the pressure on 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 private 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 it's really pushing it so you have from my point of view it's like thank god troops arrived three but we're going to end 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 the 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 it's all coming pewter and then you can. and share the profits among the owners and your interest in mice in cars and 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 for their money going to hedge funds and not going to local business you can

direct where your city needs them 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 are white voters are worried about young enough an important point to make is that it's not about being a bank it's about being predatory banks the function of a bank it's as you say it's like a utility it it keeps money on deposit at a certain interest rate it lends at a different interest rate and they make a sprint 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 it's 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 is 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 those particularly where many cities have gotten. exploited by the 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. your and your insuring against an earthquake or sound right let's talk about interest rates lobster cyc

and these sharpie bankers on wall street they arrive in a municipality many times like matt taibbi is 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 but they don't mention is that you're not protected against interest rates going down and that you're 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 the demand for credit still there is because they're in cahoots with those proprietors who are putting out the interest rate swaps it's a complete racket great racketeering card. cartel and how do we break out of that i mean while she controlled the country for two 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 the way banks where it's a good thing it's just the fact that it's own a controlled 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 at bank of america credit was established in one thousand nine hundred seventy one hundred years so 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 below as for closure rate to go. default rate the most banks per capita rate in 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 free 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 a friend. it's a customer so one of many ways in which the bank oh and they can record is very profitable i mentioned that there was an article in the wall street journal and twenty four team that said they were more profitable than j.p. j.p. morgan chase and goldman sachs. so here you have an exemplary example of a bank doing what bank 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 your benchmarking amount as an example for the projects here in los angeles right where we get pushback on that because people if there is one hundred years ago and we had this matter north dakota etc but it's an excellent

model and you can like germany where it has this 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 strongest economy in europe how did that happen then they claim a lot of credit for that so many model shine 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 it's all down this where. shocking him by taxing trap of the market first evolved 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 among others so and 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 a 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 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. interests which goes back to. carol quickly wrote about it in the sixty's the bank for international settlements was this 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 come to fruition really see the obvious manifestations in these sky high stock prices in the bond markets and in the financial chaos that's suing all over the world this is all been it's written about in the web of debt limit 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 when conference and your presentation and so was before we define. his relative brown dot com and public thank you. that our. public banking oh argue with me because report ok again thank you is going to do it for this edition of the cause report with me max geysers days you're like thank our guest alan brown author of web of debt if you want to catch us on twitter it's guys

report until next time by all. cooked additional supposed to bring us up to linger some of these it's just a. simple yes to him if you. look at with a showing of the sky. do you think it should be. your question so to. both of shipping. you up and most of the book is for the books and your books are still missing you know so i do know what the movie. was the latest movies in the put us.

boys in the right so you have put your. ministers through some really strong. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race off and spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. join me every thursday on the alex simon short and i'll be speaking to us on the world of politics sports. this this i'm show business i'll see that. the way to the united states is dangerous for most of the illegal immigrants.

watching the most just as the little sympathy they want to become must enter another one the last some just about but many of them look for refuge in the so-called sentry sides of the refuse to share information about undocumented migrants with federal authorities the best person to ask than call mom. was you know you know i tell her that my son i got him one last and the one that. they had that water the options to stay in the country with donald trump in the white house all over for the gravels the both of you what is the who do you beat up to the. i said see it's trouble to many couples won't. deal with trump the put him put in bills and spun both of you up with a few hope of the. good

. of you. and. common areas sworn in as an associate justice of the us supreme court and the senate voted to confirm him that made. protests around with democratic senators decrying the result. truly. judge kavanagh's confirmation is a low moment for the senate. for the court. and for the country.

saturday nights will see the most anticipated mixed martial arts fighter of the year as i call him a greg takes on russia's undefeated at the moment.