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tv   Keiser Report  RT  November 19, 2019 7:30am-8:01am EST

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said on saturday luigi way chairman of the foreign affairs committee of the china's people political consults of conference e.p. p c c national committee he said quote the next step in the frictions between china the united states is a financial war it is characterized by the use of long arm jurisdiction by various excuses the block specific enterprises such as the bans on z t e and huawei of finance or something we've been talking about for a while finally the mainstream is kind of getting it. trying to figure out what exactly does it may and there's pressure to go to negative interest rates is the staal job on steroids otherwise trump is saying we want to go back to the 20th century in the way to get there when america was down and we want to get there by going backwards in time and the only way you can do that is if you were to revalue the worth of time and take it from having a positive linear going forward positive interest rate having a negative interest rate remember europe is stuck in the past it's a museum nothing ever happens there and that's what
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a donald trump would like to do with it to go back to the 1960 s. and 1970 s. when america was great and disco was was was on the turntable of course america runs our empire as an empire of debt and all of that debt is backed by derivatives which are tied to algorithms which price based on time so without time if we have negative interest rates all of that pile debt anyway collapses because there's no way to price all of the derivatives that back our empire so you can't have a price for anything in the financial markets if there is no positive interest rate upon which to construct a dividend discount model or some other typical way of valuing assets and therefore the only way to keep this ponzi scheme going is to keep flooding the market with ever more trillions of dollars worth of big fee out money and more.
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derivatives of the ponzi scheme will increase america's debt will go from 23 trillion to 50 to 60 trillion i have no doubt about that by the way we are and brooklyn where in a warehouse in brooklyn so if you hear people beeping behind us it's because they're angry about somebody parallel parking or something in front of them but i also want to say that this guy ligi way he notices the united states having an increasing amount of xenophobia us it referring to the anti russian xenophobia but in particular he's looking at whipping up a xenophobia against china right now because of this trade war he said the u.s. has been close to the air of mccarthyism referring to the pakis of making accusations of subversion or treason without proper regard for evidence so he does know that which is quite interesting that that was a remarkable thing about the russian gate hoax is that there was an imaginary ghost and enemy out there called russia during the russia gate hoax meanwhile if you look
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at huawei and other 5 g. technologies coming out of china and other technology in china china's actually leapfrogging ahead of the u.s. economically and now is easily the currency war so now that whole period of focusing on russia would be is just a waste of time we should have been focusing on the actual rivals america's pretty dominant in the u.s. and i would be china part of this again and the u.s. dollar as a weapon the financial war the desire for negative interest rates he said that china should look to cooperate with other countries to build one or 2 independent international clearance systems to prevent the u.s. using its long arm jurisdiction write the u.s. world reserve currency and using instruments like swift which gives the u.s. the ability to censor any transactions they can censor iran they can censor china they can censor any country they want to and apply sanctions and engage in war you know sanctions. an act of war and the us has had
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a soft kill war going on now for decades against these countries that they don't like big rary very dubious reasons and the unknown reasons really well now we're going to get into a multi-polar world and the ability to cut people off from the financial data will cease if you want to be the neutral platform on which all internet happens or all commerce happens then of course it needs to be always neutral regardless just like at the u.n. general assembly every year here across the river and manhattan they have to allow anybody any nation free passage to come there and speak so we want to have that un general assembly every year here in order to have that we have to promise that we want to arrest anybody we won't allow we won't prevent some guy we don't like or a dictator or authoritarian like from speaking there so the same thing with the international settlements system if you want the power to control it and you've got to allow all trades to settle there otherwise this emerges now of course speaking
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of financial war and speaking of china by the way this is the most prosperous economy the world has ever seen says jamie diamond and it's going to continue so jamie diamond was interviewed on 60 minutes by lesley stahl 1st of all he says that the trade war won't be settled before 2020 but it won't cause any problems he doesn't see that there's any indication that the consumer in the united states is willing to stop spending he says the consumer which is 70 percent of the u.s. economy is quite strong confidence is very high their balance sheets are in great shape and you see that the strength of the american consumer is driving the american economy and the global economy and while business slowed down my current view is that no it was just a slowdown not a petering out so and a diamond says the most prosperous country every means the most indebted country ever so i have student debt skyrocketing household skyrocketing corporate debt skyrocketing the national debt is skyrocketing he's in the business of selling. derivatives around that for example jamie diamond is. never been more prosperous so
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yeah i can understand his point of view but nevertheless it's hollowing out the economy and it's extraordinarily fragile and we see pockets of it collapsing in various towns it could be flint michigan it could be san francisco could be various towns are just disappearing and being vaporized by this for gillett the economy because been hollowed out because of the likes thanks jamie diamond course jamie dimon is the head of the biggest bank in the world certainly the biggest bank of america as well and he is saying 1st of all that trump is going to win in 2020 because you don't have a booming economy and a president incumbent who loses 2nd of ah yes it's the consumer spending leslie stahl should have followed up of course when he said this is the greatest economy ever she sort of asked him why then as the largest participant in the repo market the largest bank in america is the fed having to intervene to the tune of up to $200000000000.00 every single day in the repo market jamie diamond why is that happening if everything is so great well the measure of
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a booming economy according to lesley stahl 60 minutes jamie dimon is the ever increasing number of billionaires but there is a point where you have to understand that for every billionaire it's a disenfranchisement of a 1000000 people it's a it's not the same as having an economy generating prosperity with some kind of equanimity across the board and a rising living standard this is a 0 sum game played by interest rate apartheid games by jamie dimon and his cohorts on wall street or moving for example hundreds and hundreds of billions of dollars from pension accounts to their pockets using ultra cheap manipulated interest rates we now know that interest rates whether it's live or or the bank of england or the fed they are engaged in a racket tearing and that's why jamie dimon is being prosecuted for racketeering because he manipulates gold silver bonds stocks currencies is a racketeer that's what he does to be clear jamie dimon himself is not but 3 executives at j.p. morgan senior executives be. charged with racketeering within j.p.
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morgan leslie stahl then went on to ask him about the fallout from the financial crash and the lack of any sort of justice there he said there was no old testament just as a lot of people lost their reputation and money but too many people didn't so of course she didn't ask them as a follow up well don't you want to do any penance do you feel guilty don't you want to confess to the fact that you jamie diamond were on the board of the new york fed when you at the new york fed decided to bail out j.p. morgan to the tune of hundreds of billions and on the other banks fundamentally change the character of america by strong arming and pressuring eric holder of the attorney general the news they hold their doctrine which says that there's 2 tier system of justice in america and there's no rule of law if you're jamie diamond and the bankers on wall street this is trickle down to the general population is boston
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under 50 years ago there's looting at the top there's going to be looting all across the nation all across the society so when you look at the crime sprees when you look at the public def occasion when you look at the public lawlessness if you look at the riots on the street that's because at the top is the gender set by jamie diamond who's saying look at me i'm a crook and i'm a billionaire you can be a crook too and you make $20.00 is so it's a crooked awful cesspool which is poster child is frickin jamie dimon of course he says yes we have too many billionaires and this is a cause of the fed bailing out everybody but that we shouldn't take it back from people like myself in fact we should just raise the minimum wage to $15.00 i make all those small businesses pay the price on top of that he said yes inequality is rising but that doesn't mean free enterprise is bad of course using propagandist to say he is free enterprise when in fact j.p. morgan is not free to fail so that is not free enterprise. it's not
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a free enterprise he hasn't had a losing day in years because they manipulate markets and j.p. morgan famously went 3 or 4 months last year without a losing trade on any given day that's like flipping a nickel in the air and having it land as every single day for 90 days on are days aren't they at the only way that's possible is if the nickel has a heads on both sides so this is best if jamie diamond's game it's heads he wins tails we lose our heads he wins and adds he wins again and he continues to win every single possible day as we had into that 2020 at elections i want to say and the democrats will probably not be happy with his his statements that the economy is booming and that in fact we need a $15.00 minimum wage because none of the neo liberal candidates for sure don't want to look left wing as hillary clinton would say and push for a minimum wage rise right well that's going to do it don't go away much more coming your way after the break with tyson slocum.
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and we're going to fulfill purposes oh probably to the people who come out. there with box it was. really really. pretty weird. how you want to. know.
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all. cut. happened and you know at this point in time just in my town way you don't think that's the. bandicoots old movie theater i. was in this way got to talk so hard not to think of the mother disappeared this woman the work of a coward and an optimist on earth and if. this is the only thing that we do is music because everybody fights in his ways. on. the floor you can be pulled down this bill frist wouldn't have given a lot of. what i think is this is the funds that is
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something. so what we've got to do is identify the threats that we have it's crazy to let it be an arms race in. very 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. they put themselves on the line to get accepted or rejected. so when you want to be president and you. want to. have to be right to be close that's what before 3 of them all can't be good. i'm interested always in the waters about how.
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this should. welcome back to the kaiser report imax kaiser's i'm not its aren't you tyson slocum he is of the public citizen energy program in washington d.c. i said welcome back always great to be here you know if you've got your finger on the pulse of what's happening there in d.c. and you've got a story here we got to talk about what's j.p. morgan doing down in texas with the el paso electric so in early june. which is a franchise electric utility traded on the new york stock market been in operation for more than 100 years it's got a service territory in west texas and parts of new mexico about 500000 households
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announced that it was being acquired by a private investment fund called the i have. claims that it's advised by j.p. morgan chase and company but the more we started to dig into this transaction the more we uncovered the fact that i is actually controlled by j.p. morgan chase and company and so in numerous filings before the federal energy regulatory commission which is one of the government bodies that has to approve and review this merger we have raised the alarm bell that ferk and other regulatory agencies should not approve this merger until i comes clean about its affiliate ties to j.p. morgan chase right now like some. of the j.p. morgan they didn't go to the graveyard and find some dead people but they found the equivalent therefore of and to be
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a front to control this energy company and it's part of this need and. this this move by monopolist like j.p. morgan and others to control the energy business and it's you know. until recently that was a public utility and there was a need to make sure that the things were operating so that energy was available to the public at a fair price now we've got intermittent energy energy grid collapsing power is failing and you've got a monopolist in the background galloping as price gouging by the master price gougers cereal processor and rackets here jamie diamond himself probably the number one most wanted financial terrorist in america so a washington d.c. and you're over there citizens energy program aside from you know applying some pressure there to try to get more disclosure it's a publicly traded company right. don't they have to comply with summerall laws there i mean aren't they violating some produce share responsibility of anyone's
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investing in this like a pension fund or a corporation or private equity fund with a lack of disclosure here they are potentially committing fraud themselves they should be aware that i think that there are some serious problems here as you pointed out. all of its capital from pension funds it's our understanding that most of the pension funds that are investing here are municipal firefighter teachers police pension funds from small and medium sized towns a lot of times these municipal pension funds don't necessarily have the management wherewithal to compete with the likes of a j.p. morgan and so we actually got our hands on some of the pitching power point documents that i was giving to these small pension funds and what we found from these pitching documents is that i-f. doesn't have any employees every single employee that works for this private
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investment fund is lent to it by j.p. morgan so j.p. morgan staffs the entire operation and they have 3 allegedly independent owners well when we did digging these. people don't own anything they actually didn't contribute any money they are just board members and we recently got j.p. morgan to admit that 2 of the 3 owners are there because j.p. morgan submitted their names as references doesn't people going to realize that pension funds are like the toxic waste dump for risk in any any bad trade because the people to match their purposefully hire stupid people to manage these pension funds public pension funds and they just go there and they dump garbage in there i know i've worked on wall street and i've done many bad trait that should have been on somebody's rich guy's account it dump it into a pension fund because they have no way to stop it it's just it's the puce and you know that's the way to go yet we already found one example of self dealing where in
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2018 j.p. morgan owned 120000000 class a shares of this wind power company called coastal states wind they recommended that i buy these 120000000 shares from j.p. morgan so j.p. morgan is allegedly be independent financial advisor to this fund and yet here's j.p. morgan selling its own stuff to i often that's just one example that we found i'm sure that there's dozens more it raises issues not just for the regulatory oversight of an electric utility but how the pensions for firefighters for teachers for cops how their money is being invested and this doesn't look good for them if if j.p. morgan is is basically constructing this elaborate front to mask its actual control over this fund i remember in 2008 goldman sachs was caught lying products
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to its own customers that they themselves that knowingly put in their customer accounts to defraud their own customers and then eric holder the attorney general at that time said you know what we're going to legalize financial fraud under the what's called the holder doctrine or. because fraud is america's number one business speaking of a serial frost there's one couple maniacs like warren buffet. tell us what's going on with kraft and their their fine for rigging wheat futures i mention warren buffett because of course warren buffett on the big piece of heinz ketchup and they engineered a merger with kraft just a few years ago so he knows all about what was happening here speaking tell us about this frog yes there's a federal agency called the u.s. commodity futures trading commission which regulates commodity markets wheat oil natural gas and they caught kraft red handed manipulating the wheat futures market levied a fine but in the new good in the negotiations to do the fine it wasn't just you
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know the c.f.d. see coming out and saying you're guilty instead it was a plea essential where kraft neither admitted nor denied any wrongdoing agreed to a settlement where they paid a fine but in the fine print of this settlement kraft negotiated a small little clause that said see if t.c. and the individual commissioners of the sea have to see won't be permitted to talk about this settlement and in announcing the settlement each of the individual see if the sea commissioners made statements about this this manipulation settlement they just reached with kraft and days later crafts attorneys filed a federal breach of contract suit where they accused the see if the sea of criminal misconduct in. violating the consent degree of this.
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this fine so so that some cracker company. is threatening the u.s. government absolutely rigging markets thank you eric holder and that and now. you did your job we are a small fee was pay we keep $0.90 of every dollar we steal right warm up to j.p. morgan but that's not enough they then want to sue the government for doing their job as private corporation that's absolute correct this is intimidation and this is the political climate we're in where a company caught red handed committing wrongdoing immediately turns the tables on the cops are the regulators and accuses them of i mean anyone who's malfeasance stories in new york of cops being spit at and having water poor ahmed disrespected it comes from j.p. morgan it comes from kraft it comes from heinz it comes from warren buffett it come
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to america older who treat law enforcement agencies and regulators like garbage that the highest levels of our government that trickles down to the street they're providing the example for people to follow of treating police like garbage and so the this craft company of course because they can't make money on crackers they have to resort to the financial future manipulation that's the only place they can make money is on their cash desk manipulating and committing fraud that's their business model is fraud and it's an out and now their business model is intimidating federal regulators martin scorsese's film about this i mean he just made a film about mobsters you know dying mobsters in a nursing home he should make a film about these mobsters that are actively torching an arsonist killing our economy scorsese watches the program write what you told him you know we borrow a lot of his shots he called this the scorsese intimidation shot. doesn't mean
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streets. you know he went to n.y.u. like i went to n.y.u. we studied him in film school now your thoughts on the california pee genie and now there are warning 10 years of blackout so this is a good. and so this utility company they are shutting the power down because they can't guarantee that the trees won't fall in the power lines and start fires wrecked isn't like smithers from the simpsons you know mr smithers i think anyway. nuclear power plant this is a travesty you've got a situation where what the 5th largest economy in the world the state of california is doesn't have reliable electricity service because a corporate owned utility p.g. any pacific gas and electric can't manage its transmission lines without fear of forest fires resulting what we have here is an issue of severe corporate mismanagement where p.g. and e.
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has time and time again prioritized financial returns for its investors at the expense of the public interest necessity of running right you know there's going to business whether it's providing electricity in a or making crackers a craft or providing banking services to j.p. morgan they can do their core business they can only make money manipulating markets couldn't that p.g.d. can only make money by focusing on the short termism by manipulating markets by strong arming regulators by committing fraud than they did the fukushima of the. essentially they're just crux their outright fricken trucks and people are being torched they're being they're dying as arson they're providing an example of petty thieves and antisocial behavior they're going to go private and everyone's going to go private kohlberg kravis and roberts are going to own everything with warren buffett we're going to be serfs on their fricken ial feudal plantation. that all back to d.c.
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and tell them this i'm working on it well we're instead of them going private we think they should go public as becoming the state of california should set up a state agency and should the governor should declare. state emergency sees genies assets under that emergency declaration under eminent domain and give those assets to a state agency to operate them in the public interest because from the san bruno natural gas pipeline explosion in 2011 where p.g. news found to be criminally negligent to this wildfire disaster with their transmission lines p.g. and his purpose proved that they cannot manage the basic fundamentals of their being genie is doing to mother earth what harvey weinstein did to the meat to victims i think that's pretty clear it's just as ugly you recently noted that the coal industry is looking for subsidies elaborate on this we have less than a minute we have 30 seconds so bob murray who was the recently departed c.e.o.
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of murray energy corporation that just declared bankruptcy really had the president's ear on national energy and climate policy and he was pushing the trumpet ministration to orchestrate a national bail out of coal fired power plants that were losing money to cheaper natural gas and renewables and so the trumpet ministration for the federal energy regulatory commission has been pushing to redesign america's electric power markets to give a huge taxpayer subsidized benefit to coal all right it's like i'm thank you so much for all the updates fascinating stuff makes me sick but we have to talk about it thank you thank you and that's going to do it for this edition of the kaiser report with me max kaiser and stacy ever like to thank our guests tyson slocum if you want to catch us on twitter it's kaiser report and so next time bio.
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is a tense situation in venezuela is still a louver the news. the problem in venezuela is not that socialism has been poorly implemented but that socialism has been faithfully implemented for inside venezuela things look different we're going to announce sanctions against petroleum to venezuela associate on the famous will have a son of a moment those who flew down person that sort of data to see on the people who come out of the moment the focus of the who story isn't new nixon told in henry kissinger to tell him that he would not be tolerated that in latin america an old terms of economic and social system could take hold and therefore the policy would be to make the chilean economy scream so once and making the economy
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of venezuela scream. what politicians do. they put themselves on the line to get accepted or rejected. so when you want to be president and. want to be. the 2 going to be pros that's what the before 3 of them or can't be good good i'm interested always in the waters in the. first city.
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u.s. secretary of state mike pump aoe announces new sanctions on iran and rams home his support for the ongoing mass rallies in the country tehran has backed by kissing america destroying its economy and fighting rioters united states will terminate the sanctions waiver related to the nuclear facility at fordo we don't expect anything else from mr blair he discreetly defends the much much pressure regime and decision of sanctions on iran. also this hour in a major policy overhaul the us caused outrage by declaring that it's no longer the new wing israeli settlements in the occupied west bank as the legal.

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