i don't know which question michel i've always been hard to live where so many have . italy's prime minister resigned cynic uses interior minister tales salvini of pushing the country into a political crisis. the u.s. military announces plans for new intermediate range hypersonic missile pulling out of the i.n.f. treaty with russia and test launching a new christian cruise missile. and u.s. attorney general william barton removed the acting director of prisons after the suicide of geoffrey abstain. plants it from me andrew cuomo will be here next hour with all of your world news headlines stay with us for the financial news and the kinds of reports next.

i am asked eyes are this is the kaiser report. well i keep my twitter followers enraged. stacey i thought you were going to say scared. well i want to talk about corruption because as we all have seen in the past week or 2 that we went through the looking glass in many regards the corruption the global financial system monetary system the negative raids and all that sort of stuff but when this jeffrey epstein suicide situation happened it was quite remarkable that the universal opinion immediately at least until people started filtering themselves but immediately there were the likes of washington post new york times and n.b.c. sort of journalists on twitter scaring the population go oh my god like. this guy

was murdered you know so then they all said oh it's all a conspiracy theory but the fact is that this could happen that the corrupt people he was blackmailing perhaps will never know what truly was the whole story behind the situation of jeffrey epstein but because now conveniently all of the revelations will no longer happen so i want to talk about the corruption that we see all around us now since 2008 when barack obama was elected and came to the rescue of the global financial system in offered hope to the american people that something would change nothing has ever changed that it was never help for the people it was never help for the population it was always. engineering bailouts for the elite for the connected for the

powerful just as the suicide of jeffrey epstein was a bailout for a very powerful people as well here we see u.s. credit card interest rates hit highest level and 25 years as a commie slows fed eases the gap between what banks are being charged to borrow money and what their target customers is widening once again according to the f.t. u.s. consumers are paying higher interest rates on credit card balances than they have in 25 years the average rate on interest bearing card accounts topped 17 percent in may according to the fed data the highest in the 25 years that the central bank has been making the calculations weekly data based on credit cards dot com survey of 100 national card issuers found an average rate of 17.8 percent at the end of july another decade. it's proof that the it's not

a market driven economy competition driven economy instant capitalism this is a top down dictatorship run by banks who can say that they're going to give their friends on wall street negative interest rates or they'll pay them for putting deposits at the central bank where at the same time they will all jacked the credit card rates up on people who don't have special relationships with the special bank so interest rates spike gapping the spread is widening and what i call interest rate apartheid if you're in the wrong side of the friends of jeffrey epstein you end up in a bantustan of extortion ery credit card rates if you're a friend of jeffrey epstein then you get the insider rate of negative and. you get paid to lend money or to borrow money excuse me from from the bank interest rates are classically expected to trade in tandem so you have your

base rate from the central bank your margin rate your cd rate your credit card rate and they run and they they trade in a relationship with each other that has a classical relationship that you can you can bank on you can define. amused quite dramatically if that's the right phrase by joe isn't all writing on bloomberg how negative interest rates are not abnormal failing to recognize this extraordinary bifurcation in the credit card rate and the fed funds rate you know that's a classic propagandist an apologist for this type of corruption and joey's athol and with all due respect he's not somebody like dr michael hudson who's actually an economist and historian and and who has told us that negative rates has never been seen at least since back to the bronze age when he set his

studies and but here as well is in terms of propaganda a lot of the mainstream media will say you know that it's no time to be an academic the fed needs to cut rates we need to save the people and remember that those people that you see on the cable news they are earning 101520 1000000 dollars they do live in new york city and their friends are fellow manhattanites and they are the elite and they only. anybody's only going to care mostly about their friends and those are their friends the jeffrey epstein's are their friends and you can see all the photos of them hanging out with that sort of guy so that they're going to bail out their friends and and they might make themselves feel better about it by wearing like a pink ribbon or a yellow ribbon or saying oh it's. the greater good of you people out there but in fact as we see that there's this huge gap between the fed what banks can borrow and

what they're lending and now some of it is that wealth sort of confiscation of wealth transfer so that the poor schlub who can't pay off their credit card debt is going to be the younger millennial sorts who are in college or university and think that because they've been propagandized that they have to do that they have to take out $100000.00 loan to get what will become a used more and more useless degree let's put it that way and then they have to live on credit cards in order to feed themselves while doing their studies but the mortgage rates have gone down so mortgage rates because remember what we find out is that the entire banking system is not about lending to businesses and growing the economy and blah blah blah all that propaganda is about mortgages and and courage and speculation and greed or fools absolutely you know in 2008 the global economy like abstain. and like abstain it started to

stink really bad. like epstein said of performing an autopsy and telling the people exactly how the global economy died 2008 the global bankers simply took a lot of propaganda. in put it into the system to hide the stench. like they're not doing an autopsy or releasing the results on epstein in 2008 it was to save the bankers the belled out the bankers and like epstein to bail out his political friends they were simply unwilling to let the stink of a dead corpse in one case epstein and in one case the global economy in 2008 filter into the reality in a way that people would react you know people should react in 2008 by taking serious actions against the bankers who perpetrated a massive fraud like they did in iceland and we will talk about iceland you know

they put some in jail it was a bait and switch because in 2008 the people did want something to be done and that's why they voted for hope and change they wanted change they had some hope that things could change and justice could be done instead obama came in brought in all the ruben ice all the robert ruben's trainees and lackeys like tim geithner and larry summers and kept the brought those guys in the then he said actually we need to look forward not back don't look at all the crimes that have happened and here we have it like the credit card rates for ordinary americans is that here's another article from earlier in this year late last year just to point out how we coddle a certain sector there's there's justice for you know one ordinary person like would have never been offered the deal that jeffrey epstein had basically been given almost immunity he did some time in a palm beach jail where he just had to stay there. for the night and work their day

was released on the day remember so there was something corrupt that happened between jeffrey epstein will never probably know and the department of justice and the attorney general's offices and in florida and new york but here is what happens with banks so the fed paid banks $30000000000.00 on excess reserves for 2017 we've covered this before but just to remind you that their banks are borrowing from the fed for free and they're lending to american credit card holders at the highest rate in 25 years even though interest rates and bond yields are at like $3000.00 euro lows as you pointed out in the previous episode the fed pays the banks interest on their required reserves and on their excess reserves that the fed excess reserves of the biggie as a result of q.e. these excess reserves jump from 1700000000 and july of 2008 to $2.00 trillion at the peak in september 2014 they've since dwindled if that's the

right word to $2.00 trillion dollars and here's the chart of excess reserves of the most of the bombing flows in the formaldehyde keep the dead corpse of the global banking system alive for 10 years like they would inject epstein's corpse or some kind of embalming fluid or formaldehyde and then the new york times will insist that everyone in america nurse themselves by nibbling on his own bomb fingers to sustain themselves in this time of trouble and so remember obama has said we need to look forward not back. of course as how injustice is continues and perpetrates and trickles down that's why. they look forward not back with jeffrey epstein when he committed his heinous crimes. with very powerful people and on behalf of very powerful people including governors senators prime ministers mother part of your scheme of your brain you build on the lie and you then you take it to

a new place and you star referencing your own lies and misconceptions to create ever more elaborate lies and misconceptions as the media keeps coming up with this rooster phobic blaming game but i'm sorry i interrupted but i tell you i want to continue on this story because remember in 2008 in 2009 the aftermath of the financial crash we did have some show trials in congress in order to absolve them and get you know basically get the criminals off the hook and we had the famous goldman sachs sacks of poop that they sold to our pension funds and defrauded pension funds and nobody ever went to jail there was nothing they could do that's when obama said we need to look forward not back here 17 goldman sachs' bankers charge a multibillion dollar malaysian fraud case it's funny because on the on the tweet they actually have one of the senior executives of goldman sachs at the time a british guy who is now has been indicted i guess in malaysia and he stand it

would george osborne because of course george osborne was the chancellor of the exchequer in the united kingdom and he intervened in the h.s.b.c. case here in america and those guys off so pointing out that these guys are also going to get off i think with the subtle reference there in the george osborne in that photo 17 current and former goldman sachs bankers including its most senior london based executive have been hit with criminal charges related to multibillion dollar malaysian fraud case the malaysian attorney general's office filed charges related to claims the country's government were defrauded out of billions of dollars in bond deals some of which allegedly end up going to the film of wolf of wall street right well i'm sure goldman will come out with a jeffrey collateralized mortgage obligation bond and they'll end up in a lot of people's pension accounts who will then at least you're not ferkin alec baldwin who tweeted that he believes that epstein was murdered by putin how fricken delusional do you have to big if if you're all bald and there seems to be no limit

. we'll be back after this break don't go away. join me every 1st date on the alex simon show and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see of that. in this community there are people who believe that it's ok to sell fractional food on my table it's really hard there are no jobs and you see that i've got kids that ask and as a parent. i can come up with lots of arguments there's

a lot of conflict in the game between the 2 most of the conflict i would say over most around money and most of them money is made. up so close well you know the children mostly know each other is good business the state of california alone makes 6000000000 dollars and you have to prison complex just to get some point in your life where. you don't care anymore nobody cares about you so you don't care mind anything. welcome back to the cause the report imax guys are continuing with carl dan a jar of market i phone take or bet or carl danger of course he applies is keen financial analyst mind to politics and approaches it i would say from the view of true political science and i look at things kind of for what they are without you know get the smoke out of the way call welcome back. thank you very much max all

right let's talk politics in your opinion did any of the democratic candidates for president look like they could beat trump no you know word i was trying to figure out where the sane one was in the last in you know a little 1st 2 debates you know each of them over 2 nights. and what you have is a half dozen that are. at least from polling data have some chance of getting a nomination and then you have 15 that are indistinguishable from 0 so busy none of those 15 are going to be the nominee. absent something absolutely ridiculous happening and the ones that are on the top just as crazy as the ones at the bottom so it's from the bottom up you have the most insane sort of pronouncements coming because you have to do something in order to get yourself out of the gutter and from the top you're essentially you're either trying to fight off one of the other

front runners who carry their their dances or score a knockout blow on one of them and store them back down to the bottom bit so it's a car that just called in as a consultant and they charge you with figuring out what parts of the comp economic model kenna democrats hit like where is he vulnerable if he has a vulnerability sow you know if you are advising one is people what wow and instruct them to hit him on an economic vulnerability if they see one count well the biggest economic vulnerability is is the attack that has been leveled on both the upper wage earner class that is the people on the right side of the bell curve in america end of the lower and the problem with the trying to attract lower end which is where the democrat vote based tends to come from. is that if you do that you have to go after the illegal immigration problem and they're

allergic to that so that's a very difficult thing to. do on the top in other problems you have with that is that there's a long highly educated people. weary go there and where the democrats are gone thus far has been with trying to essentially for gives literally don't have dollars was a college loans which is sort of grounded in terms of you know how do i votes right tell somebody want to give you more $1000.00 that's just pretty good way to buy a boat problem with there's a can't case for it and is then you get into the whole medical care situation because again another area for grown for democrat votes to senior citizens are on fixed incomes and yet busy you talk about medicare for all people start trying to total numbers on debt and it's insane so you know i don't know where they go what i would say is if you really want to attack us the popular place to go is that 80 percent issue that neither political party wants to go after and that is defining

the medical one off you're going to immediately generate 20 percent population which rude people are making all money doing us they're going to teach they're going to come at you with pitchforks the noise tortures and then cross rootless and try to burn your house but the other 80 percent of the population would see on average a 10 to 20 percent real increase in their standard of living every year and that's enormous yeah that's a really good point we talk about this all the time on the kaiser report and i member hillary clinton actually i think tried this in the 1st term of the clinton bill clinton and as you point out she got attacked pretty viciously and then the bond market came unglued and bill clinton made the famous remark that when it comes back he wants to come back as the bond market because that's where the real power is and then has really been a viable issue sense you talk about not having enough money in the coffers to pay for our student loan forgiveness your thoughts on andrew yang he's got the 1000. or

a month u.b.i. universal basic income concept your thoughts well i mean you know $330000000.00 americans $1000.00 a month you know what's what's the budget impact your get what i always love is the answer to this that the democrats always trot out is what we're going to tax the rich ok and that's that's 8 very good selling point among the american population the problem with that is it only works for one year because if you turn around and you tell me that if i make more a $1000000.00 a year you're going to put a 90 percent marginal tax rate on me then i'm going to make 999000 dollars next year and i want to get to 9 or $99.00 a better stop working i want to go to the beach i'm wondering my ties and you can't prevent me from doing that so your tax collections will go to 0 from this policy after the 1st 12 months and yet the promise you made to keep paying the money

that's not going to go to 0. where you could do with less let's talk china what do you think about the trade with china are we shutting the barn door after the horse has bolted is it possible to every store manufacturing and innovation to america carl we're doing the right thing what we're doing it the wrong way. i have long argued that we shouldn't hit china and everybody else who is waging environmental purity terrorists in fact was a subtle point in leverage book that i wrote and it is the right thing to do because jane people to offshore jobs. by allowing them to abuse workers and poison the land is inherently and it will in our worry just that ok and yet that's what we've been sent about so correcting it is the right thing to do in addition china is only quote unquote great because they have whipped off intellectual property on a wholesale basis for the last 30 years so anything that did tends to take some of the teeth out of that snake is good the problem with what we're doing right now is

that you're jewish the factories are just moving in places like vietnam and indonesia and they're not coming back you're in the united states and that's because we haven't applied those tariffs on an equal basis to everybody we're focused in one place that is politically necessary for trump in today's world but in the long term it doesn't actually solve the problem would it don't do however is destabilize china's banking and financial system which it's about time they had a little comeuppance for trying to run a 4 percent debt to g.d.p. ratio in a car i've got a back on telecommunications as well let me just ask a question the rumor or the thought is that huawei is now the leader on global telecom and and what their latest technology the next generation mobile wireless technology 5 is that correct and i'll buy you know look it is certainly a global force they certainly have

a decent technology base they ripped off an awful lot of it but you know how reacquire still have it once you have rights it just saying yes' they are by no means the only source for sides you telecom equipment in your world today it would like to be a little cheaper yes but that's a different question and can you do it now we're just talking about march right and so really when you get down to it i don't see the threat they are and what i do think is interesting is that they're you know they're putting their own employees like operating system out because we. google's essentially blocks be able to put google apps on their stuff now it's and that's very very good so no chinese communist party point of view because it will make the surveillance of their citizens easier because the employing of penetrating into the rest of the world's worst 0 talk about elizabeth warren she's got an antitrust rhetoric going on against silicon valley does the u.s. need a trust busting president more than anything else at the moment caro yes but busy

she's focused in the wrong place there is a serious problem with companies like amazon there is a serious problem with companies like facebook. amazon's biggest miracle is brings 3rd party sellers onto their platform if there's any data online and if it's profitable nuff they call them out of the market that's illegal it's been illegal for 100 years they've been documented to be doing it and on top of that the cross subsidisation of businesses between their cloud services and their physical goods as illegal too but nobody goes to jail today where elizabeth warren could score big points is if she went to that 8020 year shoe and went after the medical monopolies because that ists reach trillion dollars a year they're just ripped off a lot of american pocketbooks that is the norm is a lot of money we're talking about somewhere on the order of $10000.00 per citizen

in the united states today that you keep that would make a huge difference and if she could actually be coherent about it which i'm not convinced she could is one of frankly i think could get her the white house wow actually find car i think that going to be the most talked about the part of the discussion let's move on and tell see gabbert running on an antiwar platform the military and the many bases around the world eat up half of the u.s. budget they think downsizing is a good idea even if am possible when they can. census on spending even more seems to be a bipartisan issue karo it's not half the budget it's come on it's a 6 ok $700000000000.00 should we cut that off yes. is that going to solve the problem would which we medicare and medicaid it's going to be about $1.00 trillion issue or no can we have defense political ciro know.

you work a 100000000000 nor maybe 200000000000 or. disengaging from places we never should have been in the 1st place so for example afghanistan oh yeah it's in so that's that's a good set of policies but if you look at the rest of what he has out there it's it's lunacy prime's nonsense just like the rest of these folks and so you know trading on a war record you know hey that's that's nice but guess what she's not getting any impact airth the one thing she did do was really bend jamel harris over the table of the last debate and give it to the heart where he gets that was that was one of those those moments on t.v. that you go oh boy that would hurt. you know obvious short of a baseball bat r.-o. it she could have done better no nuance in that carl other place plays like it like it does now so we mention elizabeth warren we mentioned andrew yang we mentioned tulsa gabbert in a minute we have left i want to return to this concept this idea you have the 8020

concept because this is frickin awesome we talk about all the time by going after the medical establishment americans get as i think you said tant a 20 percent increase in the standard of living correct that's well yes that and some people at the low end it's even more would be about $10000.00 per citizen yeah i mean this is the way to go and in the right hands if articulate it correctly could put a democrat in the white house you know you're you're no for you know i i and what went on to happen. no because all sides of the aisle the rep school we walk by the medical and pharmaceutical complex a need to know them well go anywhere near the us i've been trying to do the political role oh i've got a lot of bills for it for the last 70 years is going to absolutely no or so before we go what's the name of your book again leverage money will destroy the world leverage exactly great but hey that's it thanks for being on the kaiser report

thank you all right that's going to do it for this edition of the kaiser report with me max kaiser stacy everett want to thank our very special guest carl then a jury is over there at market i phone took her about oregon trying to reach us on twitter as kaiser reports an exxon bio. please. give me my best couple gets a lithium he said. just at home as. it is not my mil but i'm also the most campaigns you know so i don't think it was easy to

please not emotional when i meet. some people keep all of those yeah you know because you didn't you know just to see if you see this pull you through i call. someone then when it hits you for nothing that you seem to handle don't you i don't know you kind of this. little kid is needed to use him medical. always stay in this has been the fact that he come to your list to see him to no money so do you see so normally in any case he.

los angeles the city of into. a short drive down the hill from the hollywood dream they south-central one of the most notorious addresses on the planet. like its famous neighbor south central has made its place in the imagination and then. beyond the fictional reality of his residence lives are seldom touches the t.v. screens in movie theaters or were ready. on their tune of the summer and fall 2012 police chase an armed robbery suspect across the same time to.