well the one thousand yellow vests protesters take to the streets of wrongs despite a government warning those soldiers could open fire if riots had been endangering lives all possible that is in paris for. the french government closed several iconic landmarks for protests but it seems at this saturday the demonstrators found and not there a well known location. u.s. backed kurdish forces in syria declare victory over islamic states off to camp during its last food cold we call to donald trump attend the terror group had been defeated. around one million people descend on central london breaks it macho image growing up and go over the way the u.k. government has handled the process. but the latest on these stories head to our website r.t. dot com stay with us for the financial news and the kaiser reports next.

i am max kaiser this is the kaiser report baringo bro hahaha stacy what's erin go bragh that's like means a happy leprechaun day an irish gaelic or something but i see it on many of the hats during the st paddy's day parade in new york i must mean something well i'm sure you're pronouncing merong and many comments on the you tube will tell us so but nevertheless you know in the second half we're talking to dr michael hudson he's the author of super imperialism and his latest book is called and forgive them their debt so. a kind of have a headlines here involving the end of super imperialism he and his book from twenty thirty years ago he wrote about the super imperialism of america using the u.s.

dollar and that an arc lobel hedge money but the global had is falling apart and that is in the headlines this week when it comes to aviation regulation the united states ain't the hedge amman anymore so we had them easing story last week of after the aftermath of the disaster and ethiopia when ethiopian airlines went down is that ethiopian airlines chose not to give the black box in fact they stated that they did not want to give the black box to american regulators and officials because they did not trust america to give an impartial opinion about what happened to the plane because most people reckon reckon that it's something to do with a flaw in boeing and of course the americans are the last of all about this i saw an interesting interview with david cole bear in tulsa gabbert who is running for president and the stephen colbert was wrecking the case well merit goes the policeman of the world and people of the world looks to america for guidance and

america is the shining city on the hill right and you know. she was making the point that maybe you need to revisit this notion and a lot of these interferences and these foreign affairs cause of blowback a lot more problems but this is a great story that shows exactly to the extent that the empire has flown that the rest of the world does doesn't trust the us to review any of this material when it comes to serious stuff like trying to figure out why these planes are blowing going in the wrong direction etc so it's really diminishing the whole role of the u.s. across you know the entire commercial and political spectrum and it was the first time ever in history in modern aviation whereby it was not the f.a.a. that led the f.a.a. the federal aviation authority in america it was the one that will ground an air craft that will say no the air bus something something cannot fly here or whatever airline cannot fly over america and then other nations follow america was the last

to concede that yes this this aircraft is perhaps not safe every other nation even the last to go was canada and even though so when they lost canada it was like losing walter cronkite america finally had to step forward and say ok we're going to ground aircraft right next to his comment during the vietnam war of the last walter cronkite right so america's a lot the last to know and that's a pattern that we'll see repeated now in the america would just be the last to know it's easy to put the blame on trump because he is a little bit erratic and speaks want but it's been a slow process and it's something that kaiser report has been covering for the past ten years and you saw every single empire becomes filled with they all do this and they they don't like disobedience and they get more and more cranky the older and more decrepit that the empire becomes and they. they start being cranky and nasty with their allies so the likes of germany who was a powerhouse manufacturing superpower with lots of savings and wealth when we

started going hard on them for example about trading with iran and therefore they had to come up with an alternative to swift and they're working on an alternative to swift you know those sort of moments are really key. we don't know the abt absolute results yet but in ten twenty years time. maybe fifty years time historians will be able to look back and say those are the moments those were the key moments when the hubris just got too much they started going to hard at the wrong people at the wrong nations right this is the idea to globalization so what is day globalization may came into office saying it's going to start really looking at all these relationships trade or a lesson ships and the i.m.f. and the world bank of the united nations and we want to. start pulling back and taking our troops out of the out of these different zones and that's de globalization who's the biggest loser of the globalization well would be the u.s.

because the u.s. has been the biggest winner of globalization post world war two so it would stand that they would be the biggest loser of big localization there is kind of a false sense of security as money flows into the u.s. dollar but that is really going off the edge of a cliff at some point you know the support for the dollar erodes and then you'll see the genuine impact of what happens when you lose a limb and i think it's just eroded over decades because remember after world war two and the united kingdom in germany the previous great powers were on their knees like they were devastated and it was the united states they rescue at least maybe not militarily so much certainly they came in on d.-day but if financially and with the marshall plan and we had the american century begin and workers were earning so much money here and we were building amazing car isn't hollywood was in its glory days and we were telling the world story and you know the real sort of american like go get it when we any anything can happen and that happened for

a while we had all these great products but now if you look at the last ten years you look at the weapons of mass financial destruction so we used to have gold used to trade with us and we would send you gold digger all that three hundred million dollars within gold from us for our trade deficit with france now then you got dollars then you got even worse. in dollars you got toxic derivatives in. trade deals for agriculture you get chlorinated chicken and hormone laden beef which we see is great take it you got to take it you know it's a great price this is the way to cheapen the price and everybody's like. well like me be ok maybe he can make some more profit on the chlorinated chicken but like people here like food like nourishment protein good things for you well the fake fake news came about through fake money and they think money is on display his way

so one of the car dashing kids became the youngest billionaire ever ok and this is the result of fake money the children of the people who are engaged in the fake college admissions scandals they have you tube channels with millions of viewers they're getting millions of dollars for tweeting and for doing instagram ing for perfume companies and other you know other products other fake you know virtue signaling or well signaling etc so it compounds and you end of a compound of fake this it's fake this is the root of fake this and you end up with what you have now which is very much like the fading days of the court of the french empire it's not just us empire doing this abroad we're doing this at home too and that there is only one metric that anybody cares about in the state department in the u.s. domestic politics and that is the profit how much profit they're making and they

don't care therefore whether it's chlorinated chicken and hormone laden beef and carb or pork buns and things like that they don't care that that's why you have situations like in flint michigan that's why you have these like macabre and almost like dickensian sort of health care system here which is well it's even worse than dickensian because they're charging like for a luxury products and just giving you nothing i mean they're really giving you chlorinated chicken is their quote lindemann our health care system and then with this boeing story. you know you see the ultimate of every every single thing every state whether it's the financial industry or the pharmaceutical industry when they're regulating themselves it turns out boeing was basically regulating itself boeing sold a plane that because its engines are larger and farther forward was prone to stall so it programmed the plane to automatically turn its nose down when this happened to make more money it got regulators to declare that new training was not needed

also end of empire stuff there is no permanent head of the f.a.a. trump wants to appoint his personal pilot from his former seven five seven so i guess congress won't approve this person but anyway we have no head of the f.a.a. here permanent one so self regulation and they decided to regulate themselves in such a way as to that require equipment that was safe. so the result was a quite unsafe because the us r r r has become purely about profit so. but europeans are made here trading partner they still do have despite thatcher being so close there you know they still do have society and they do care about their food and they don't like to kill their children they don't like to poison them there are regulators there partly because of the way the structure there is this you know the bureaucrats of europe don't. they don't have any

particular allegiance to one nation like so there's no one national champion that can basically say ok who cares if everybody dies in a plane crash or who dat who cares a flint michigan has no has lead in their water who cares that you know forty four people have died in kentucky from hepatitis a which. people don't die of hepatitis a except for and in kentucky in america because they're so ill health and there is people don't seem to care because as long as there's profit and it's own it's a vindictive profit it's like we don't death. does not like torture and death do not like that doesn't count on their bottom line nobody cares about that here but our trading partners are increasingly caring about it in the e.u. yeah they have a lot of regulations and they also have a lot more competition that's why they're way had stuff like banking and telephony right you get much better salafi service in the in europe have to pry have a far as banking services are way ahead way anywhere because it's competition

because the e.u. promotes competition that's what part of regulation is all about even adam smith and his moral sentiments the follow up to wealth of nations points out you need regulations and well long with the invisible hand because whenever you put this spend together they will try to fix prices so in the us it's like saying all this crap that will end up with market fundamentalism where you only believe in price and price manipulation even more so than profits because profits are the result of the accounting and the accounting is the result of the four big accounting firms that you can pay to have any result you want all of the corporation in america gets the accounting just a profit statement they pay for for more of the big four accounting firms based on what they want to see as their profit in the case of jeff bezos he wanted losses for years and years and years because you want to pay any taxes ok fine he just bought the right accounting firm and said this is what i want so they're not a cab they're self accounting as well they don't account they don't have any oversight whatsoever then so the point being that in the us you have

a system that is making death and imprisonment the the main and result of the capitalist system and it's very different than in europe where you can get still get good cheese and you are going to take a break and when we come back much more coming your way. you know world of big partisan through a lot and conspiracy it's time to wake up to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the back 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

we're watching closely watching the hawks. and. i think the two did not. lose their cost somewhat because there is this still going. to. say. the same the position of serbia in the context. of the international law. are more more on the serbian side i think not on noticing forty four but also just find the magic that we got in peace on the moon movement inability of all borders. room welcome back to the kaiser report i'm max kaiser time not to get it dr michael

hudson author of and for give them their debts michael hudson welcome back it's good to be back next elizabeth warren she's really going after the big tech company says there become predatory monopolists what do you think about this this debate now getting into the american political system your thoughts would be good to reestablish the old entitle numbly x. they used to be able to find him an hour late and nobody stop defining monopolies so there's no legal basis to move against them so what she's trying to do is grow a set of standards that will become the guidelines for actually applying the laws the become a dead letter on the books now almost every industry in america has become a a do are player monopoly the beltway crowd in washington argue is i table this that as long as prices remain low you know we don't need to worry about all this monopolization your thoughts i don't think prices have anything to do with it. is

not that the prices remain low it's that they're way way above the actual cost of production and the purpose of you know monopoly legislation is the monopoly rent that is an earned income or a super way of both the amount necessary to actually induce a company so the monopolies have been cutting cost cutting costs but they haven't been cutting the prices at all so monopoly profits have been going up and up and up and people don't see that because of all the bubble talk that you're getting from the lobbyists who missed curators university professors and also it precludes competition when you have the ability for these companies to simply be merged or acquired by competitors i'm sure i'll make this prediction that the. i'm facing boeing right now with its latest jet and having it being canceled all over the world will result in a

a bailout of some kind big day the government funding the merger of this company by another company see no executives away penalize in any way they get massive bonuses and so it's anti-competitive that you know we competition from my point of view is a good thing in an economy but an obligation to get free competition therefore gets rid of a lot of the jobs i would come with new competitors coming onto the scene michael that's the idea you must have lived through the obama administration. speaking of obama let's go over some of the other radical policies being proposed at the moment over there on the left we've got a oh a say and i guess i think you might be your congresswoman anyway she's not running for president but she is pushing a big green new deal we can talk about that plus it seems like she's monopolizing the media the media can't keep the camera off her just like the media couldn't keep the camera off trump and that led in large part to his victory can you talk

a little bit about what's going on there she is doing everything right she seems to be a natural and the reason the media pays attention to her is they're largely supporting a drum especially the democrats who trump is the ideal third third term of obama doing what obama could do when it comes the serving was serving the rich but the media think they can call her a socialist as if though she was a muslim when begun to mix and what we really have is you just put it out with monopolies we're we're in a planned economy now the planned economy is when by wall street and as planned by the muppets that's where you have a monopoly where you have a plan to take the winning away from government away from the market and put it now hands of a small group of people so they think that by calling. see a socialist people will think that socialism is doing well all groups doing instead of doing the opposite thinking about wall street let's talk about this planned

economy this command and control economy that is run by the federal reserve bank other central banks ultimately control and commanded by the bank of international settlements. you know we've got a situation here where the monopolization the banking industry has led to no competition and they were awards going to mal investment and bad behavior so j.p. morgan they're caught in criminal schemes they get a small fine and they get promoted and they get hit ballad money and they keep interest rates low which of course are used to do things like the carry trade where you can borrow in japan and invest in a high yielding consumer currency and make a restless two or three percent multiply that with the revenues make a restless twenty percent so they are literally just printing money for themselves all day long best done incentive to do good in fact it's an incentive to do

bad and is my question is this dr michael hudson you're a smart guy you're on the story in you wouldn't you would know the history of this it seems like never in the history of economics going back hundreds of years have we ever had this concept of negative interest rates now nine point three trillion in government bonds are negative thing and the fed has raised the possibility of introducing more negative interest rates and can you walk us through what this whole negative interest rates are all about it seems to me just to be another layer in this global ponzi scheme your thoughts means unlimited credit what the fed is trying to control isn't on a me it's the stock market and the market and the credit market. is that provided credit is such a loan. rate of interest that people can afford to make their bio companies or rater is that regulators you can borrow. almost

a nominal interest rate and you can buy stock in a company. paying six or seven you know percent. you get it right the difference between what you pay and what you're expecting in the stock well this explains why if you look at the s. and p. five hundred the wealthy journal had a nice chart you know their earnings of the s. and p. five hundred going back to the s. and p. prices are going so you're inflating the stock companies while the companies are being hollowed out they're not investing more they're not producing more but they're the manager that the companies are able to borrow and speculators can sort of push ups. being already to suddenly. make money and run when they see that the game finally over and nobody has enough money to buy what the company is

reducing anymore this kind of relates to your book here i would imagine the book is called and forgive them their debts the author is dr michael hudson he's warmed up i'd say preeminent authors in the world covering economics and finance and that going all the way back to super. imperialism i believe was the title of the book and he's been hitting home runs ever sense of this is the latest and dr michael hudson canon of instant classics but the book is called and forgive them their debts so these negative interest rates are a way of forgiving debts right for banks right so if we're going to forgive debts the question is who's debts should be forgiven in two thousand and eight the people who are debtors they were not forgiven the people who were the creditors the bankers the. they were forgiven so are negative interest rates just another way to forgive the credit taurus and s. and are we in

a strange upside down world historically speaking it's usually the data errors that get their bad forgiven dr michael hudson well they're certainly forgiving the bank losses remember that was in a city bank and out a number of other wells fargo and the other banks and negative equity they actually were broke and so the federal reserve basically forgave the wealthy or their debts this is the exact opposite of what happened then they were babylonian the jews they plant bets at work and won't use the bait the debts of the poor people so that you win. and sign the bondage so that they own their waiver that the government soldiers are part of a work is not to be predators but now you're doing business that's where all the place right now the death we've been given our well over the walls of the right if readers and that's because the banks know something that they're not really

popularize they know that they and we pay because that's growing much faster than the economy's growth and the next growing faster than the economy then more and more and. when you need to pay the plants and that situation here and now even we're. now at some point imagine if now that all this that it's very well known this interest rates and low up suddenly that will be debates we just why wait all companies over and you have something like blackstone picking up all the bank. junk mortgage. oh these are you going to have funds rich and ask all of us i'm getting money by always bankrupt companies and then you're really going to fume and i will say it was you haven't seen before so while we. big red and ram. by these lower rates enriching yes oh yeah well of slaving. over.

and well well well we won't want to eat savings and wait and so will be pretty much. what it were were if you will. and it really is a war. on a me world hasn't seen really since. blackstone already has oh more than six trillion dollars under management it's the biggest money manager in the world that's pretty recent and they've done by using all these wall street tricks and derivatives and introducing e.t.f. six change traded funds which are just rent seeking layers on top of rent seeking layers over and over again you bring up feudalism and the condom is mimicking a feudalism i have a suggestion for a book it could be called super feudalism you know it's a neo feudalism when you have this amount of concentration in so few hands and you have that is basically feudalism right so i think this is

a concept that people are not readily embracing you have a few big macro situations burrowing you have dig lobel ization with the u.k. is separating from the e.u. you have the just announced that they're falling out of a trade partners with the united states you've got the america is now doing new trade deals with china so de globalization is really the watchword of twenty nineteen which would mean dollar ization to a certain degree and so what you're describing is a scramble an asset grab scramble by the last eight banks and as we prepare for this massive. repricing of assets there right if you see like i'm asked of repricing of assets down fifty sixty percent and then a big smash and grab michael lots of that exactly what. you said that exactly. what i'm going to describe you so getting back to what democratic policies i'm looking forward to just to cover some bases here on medicare for all is another

idea many democratic voters wants your thoughts on whether or not this is a good idea how would it work what do you think dr hudson well of course it's a good idea medical care for all really just means. insurance company profits or not so acute medical care and use of threat all of the health care insurance company profits then you're going to obviously a what work boss the about doing business well or living so that people's. employers and people with medical care will go way down their taxes or some maybe well a little bit. on basis if we're going to be saving huge amount of money that they now have no reason what we'd be able to spend either on buying more and living better or on paying down that that's run up so obviously i don't

know who were you were of middlemen you're going to have in order possible in business and that's what medicare for all it's i don't know meant brilliant medicare for all insurance profits for none dr michael hudson thanks for being on the kaiser report is always going to be in your met and that's going to do it for this edition of the kaiser report with may max kaiser and stacy i would like to thank our guest dr michael hudson is a recent book is called and forgive them their debts if you like to catch us on twitter it's kaiser report and so next time by. during the great depression which are old enough to remember there was most of the family were working. there wasn't it was bit you know much worse object to please him. but there was an expectation that things were going to get better. there was a real sense of hope. there isn't today today's america where shaped my the turn

principles of concentration of wealth and power. reduced democracy attacks. engineer elections manufacture consent and other principle holds according to. one set of rules for the rich. that's what happens when you put her into the. will switch is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america.

and welcome to the world a part of twenty years ago nato launched its first military operation without the approval of the un security council the taliban bombing off yugoslavia was celebrated as it turning point in the history of warfare proving a conflict can be won by air power alone to take it on does it still seem like a victory well to discuss that i'm now joined by slobbered on some r.j. professor of political sciences at the university of belgrade professor some good to talk to you thank you very much for its time. to know first of all let me ask you.