the price of oil nosedives along with global stocks as saudi arabia ramps up production and a dispute with russia. also this hour brussels says it's agreed on a good starting point in discussions with ankara over the unfolding migrant crisis of the greek turkish border where tens of thousands of refugees from maine and limbo. and violence erupts in italian prisons with inmates furious over their conditions and the strict new measures brought in to combat the spread of the coronavirus.

you're watching are to international bring you your live news update from our studio here in moscow welcome to the program cuts as a man for oil falls amid fears about the coronavirus saudi arabia says it will increase output after a dispute with russia with more hears are to scale up in. quite a somber atmosphere here on wall street they are already calling it black monday we saw a 15 minute free on futures trading when the stock market opened big dramatic plunge on the stock market the biggest drop we've seen since the 2008 financial crisis and on top of all of that we've got an oil price drop 30 percent decline in the price of oil a plunge in the price of oil the biggest drop we've ever seen in oil cents in 1901 and at this point it being traced back essentially to the negotiations with opec saudi arabia has come forward and called for

a decrease in oil production juju limited demand around the coronavirus well russia has come forward and said that this. call for a reduction in oil production and a cap on oil production doesn't really make sense because it would give the united states an unfair advantage but this is what has been said by russian officials the russian oil industry has a high quality resource base and a sufficient margin of financial strength to remain competitive any predicted price level as well as maintain its market share for russia's interests this deal is simply logical we giving up our own markets remove cheap arab and russian oil to make way for expensive american shield and make it worthwhile for them saudi arabia did not appreciate russia refusing to go along with their proposal for a production cap and so they flooded the market and the price has dramatically gone down 30 percent drop $31.00 a barrel here in the united states and in response to that we've got economists

talking about how dangerous this situation really is we believe the. price war on equivocally still to this weekend when saudi arabia aggressively cut the relative price which is sells its crude by the most at least 20 years this is turned into a scorched earth approach by saudi arabia in particular to deal with the problem of chronic production the saudis are the lowest cost producer by far at this point the whole world is waiting to see who will blink 1st russia or saudi arabia now the shale companies in the united states those are companies that extract oil and natural gas from the shale of the united states through the practice of hydraulic fracking they have been suffering quite a bit furthermore we've got algeria and france among other countries stepping up and calling on saudi arabia to negotiate and saying that they've got to get this resolved the world economy is in a jam people are very very nervous we'll wait to see what happens next. to break all that down we're now joined live by max keiser host of the kaiser report so did

you see any of this coming the new york stock exchange being pause for 15 minutes the worst day for the markets since 2008 was this expected. well sure sure anyone who's an observer of markets to see this coming this is basically a flock of black swans and they all collided and they're dropping out of the sky is just the black swans are made by falling they're just dropping out of the sky you've got 3 major planks of the black swan clinician you've got the credit bubble blowing up again this is part 2 of the 2008 financial crisis. 2000 a what was decided was that a lot of banks are banding their line of credit so they can continue to do all the bad things they were doing that led to the crisis but do it 102030 times bigger this was going to be a problem and out in the lot up as anyone that

a prize or reporter in predicting that about for several years that they have the same bad guy bigger credit line to do the same bad things they'll result in the saying that out number 2 you've got this russia. market turns out russia has got the best hand at the geopolitical of oil going you know russia soft and then are doing about $7.00 and rattle of a saudi arabia is close to $3.00 a barrel russia has got no debt and they've been buying gold and they're very well positioned now to go into a very prolonged battle for supremacy in the oil world meanwhile usa and america their cost is well sort of 50 dollars a barrel so they are going to be low that you see if you look at the bond market for the shale industry the fractures it was absolutely decimated this will be the complete this arrangement of the american shale industry it's got an 8

a massive bailout and a massive money printing still won't survive and then number 3. you've got the coronavirus which is basically them will play the coronavirus attack $60.00 to $70.00 or 80 year olds with all the wealth that they've accumulated during the boom years that's all going to be inherited now by the millennial gens because the coronavirus on our tax 67 year old leaves a 20 and 30 year olds completely healthy so this is some kind of. concocted in some millennia old to want to somehow get back at the boomers for stealing all their money and encumbering with all that student debt so i guess the karmic rio is turning into the manner of the millennium. so we've got a bit of a perfect storm here how long do you see this continuing with today just the deepest darkest day or is this going to fizzle out or are we going to continue to

see this economic turndown. well i think we're going to see a pro line contraction in markets around the world the u.s. dollar are i think is going to suffer gravely and we're going to see a new global unit of account emerge but it won't be the u.s. dollar because the u.s. dollar after world war 2 was the really the global unit of account in the seventy's they made that bargain with saudi arabia to create the petro dollar and that's been the story now for 4045 years but that's not over today because the end of the petro dollar we're going to see the rise of the ruble dollar or that the chinese russian based. based dollar is going to be outside of america america as the center of the world reserve currency i think this sense so that's number one of us going to take several years to play out number 2 the stock markets around the world are hyper inflated by companies buying back their own stock with free money from the central

banks and once liquidity freezes and it's freezing once again you're going to see earnings emerge to reflect the actual performance of these companies which means a mark down 4060 percent for a stock markets you know it's amazing because the stock market 2 in america the dow jones which is got a size $29000.00 it could trade down to $8000.00 and would still be in a long term home market that's not over it's like the stock market the energy market you're looking at oil without training and that's one of those comments out of russia where that we can hold her down and we can we can deal with $25.00 a barrel oil and they're ready to go into the trenches on the us and they've got no debt in russia they've got a lot of go hundreds and hundreds of tons of gold and they're ready to go they're ready to hit the you know to go big time here this is russia's big play right now they've lost a move right now so this is going to be the year of russia i think. some analysts

are saying that the saudis were playing a high stakes gamble is there any way any hope of them winning this game of chicken essentially no no saudi arabia is not going to win this game which i think because they've got too much debt look at what happened soon they took saudi aramco their biggest enterprise problem recently close to a 2 trillion dollars valuation that's now turning below the initial public offering price it's going to train below half of what it once was in terms of valuation and that entire economy is shrinking all the paints and those in the middle eastern world to the dollar are going to come unglued those pegs of the dollar are going to be reset and that means incredible economic distortions and disruptions all over the middle east the middle east has opened a can of whoop ass but they don't know who stupidly oh my god because they're not going to win this it's all they're ill prepared for this there's 2 sides to every

story of course and while some have accused russia of starting an oil price war moscow says that they really didn't have an option that the opec deal just wasn't a profitable offer do you think that that's the truth. it is in substance the truth it makes no economic sense the economic policy in viruses advisors in russia look at the numbers and they said this stuff doesn't make any sense so and we don't operate from a place of charity we're not here to subsidize the american shale industry especially some so americans grand onerous look at sanctions and all the bad mouthing and all the propaganda against russia you know russia saying look the numbers don't add up and we are we consider you our partners but we're not going to charitably subsidize the americans shall industry for you now we've been very crude and we've paid down all of our debt we've been buying lots of gold and we're going

to up approach this purely as a cotton mess in our own interests and that's the clinton thing to do and the problem debt mongers and saudi arabia and america are in a really bad position at this international oil kolker game and i think russia is holding 3 aces so do you think it's then going to be saudi arabia who is hit hardest by this price war. america will be hit hardest by the price war because at least in the saudi arabian case them it's an autocracy and they can insulate themselves from the rising madmen crowds to some degree in america it's chaotic it's unmanageable and nobody is prepared so there's going to coronavirus you have donald trump who was pretending it's in consequential and shaking hands of people and exposing themselves to the virus as are many people and

the political class in america completely unrecognizable that this is a grave risk so you have exposure to that once it gets into the minds can cause tremendous problems to your physical health and so they're not prepared an offer of what's coming in the next couple weeks and i think you have the most to lose it's the most leverage economy and u.s. dollar once it loses its place those were reserve currency and i think that's going to happen now and next year miles you're going to have an enormous dislocation in the economy in the u.s. where suddenly all of the what's called the senor it the. mormons or currency disappears and you end up suddenly finding yourself in a 2nd more country and you're no longer in the 1st iraq under. max keiser host of the kaiser report thank you for joining us on the program to share your expertise jacqueline. turkey's president was in brussels on monday in a bid to find a compromise to the unfolding migrant crisis at the greek turkish border the visit

comes amid a deepening diplomatic standoff between ankara and athens that's left tens of thousands stranded at the frontier and across live to peter oliver peter what have european officials been saying. well there was no joint press conference between the e.u. side and the turkish side following this meeting but we did hear from sharp michele the european council president and on the line the european commission president mr michel well he said that this was a step forward that had been taken in relations between the e.u. in turkey that these talks were important in establishing progress in the short to medium to long term he said that the slack would now be taken up by. the high representative for foreign affairs who'd be working closely with the turkish foreign minister to try and get will come to a solution to the current impasse over the 2016 e.u.

turkey refugee deal he also said that there would be constant contact over the coming days between the e.u. sides and president one of turkey. on the line for her part she said that it was important that there was lines of communication still open pretty much that's where we are at the moment they're happy that they're still able to talk to one another face to face very diplomatic language used by the european commission president as you would you'd really expect essentially saying that more both sides agree to disagree at the moment. today's discussion focused on mapping the areas in which we can work both in the e.u.'s interest and in turkey's interest and indeed as you said a lot goes back to the e.u. churchy statement of 2016 which remains valid. well the commission president was also asked about the actions of greek authorities at the border the

question came from a turkish journalist to accused the greek side of excessive force. on the line said that borders were important to be protected but so was the right to asylum that all force that was used to be proportionate basically the situation we have at the moment is to is unhappy with the current deal it's on the table it says its own manageable if there is a chance that certain aspects of it could be reopened back in 2016 they weren't able to get the visa liberalization that they wanted there's also. that turkey will be looking for more cash essentially from the european union if that's coming at it what form that money would come or that's going to have to be ironed out over the coming days in these talks that are going to continue basically the current deal does seem dead the new deal well they haven't agreed on that yet artie's peter are

bringing us the latest thank you know. geopolitics expert pierre emmanuel to man believes the e.u. wants to ramp up the pressure on turkey but doesn't have the means. it was a 1st meeting but each result. no decision october so far because of a big disagreements not only between the e.u. and turkey but we've even and the european union who would like to appear. to show strength in front of turkey because who took the gratian against. using the migration of crisis said joe particular weapon but actually used very reach and the border is not to cross. but by you or migrants pushed by turkey because greece national board

of greece is kept by your greek government own greek police force he spots a reality check on the ground. in an attempt to curb the spread of the corona virus the italian prime minister has announced a nationwide ban on all public gatherings a drastic measure comes as the number of infections in the world's 2nd worst hit country reached over 9000 growing by more than one and a half 1000 overnight while the number of deaths has risen by almost 100 since yesterday amid the latest restrictions uprisings broke out in a number of jails besides demands for improved conditions prisoners have been reportedly angered by new rules which have seen a suspension of family visits and this footage shows a group of inmates on the roof of the sound batar prison in milan burning items and shouting freedom but the most severe revolt was seen in the northern city of medan which left 6 inmates dead in sicily the relatives of some detainees gather near

jail concerned over the potential prisoner infection. zone while this coronavirus has been raging for almost 3 months spoke about everything. the prisoners this is unfair because in this building we don't even have events right now an ambulance has just gone in and we have no idea why one of the ministers to be prompted all of this people who have sentences of less than 5 years have to be treated as different measures at home as. we discussed the prison protests as well as italy and europe's response to the coronavirus crisis with political analyst paul phone he believes that use efforts have fallen short so far . definitely they are in the prisoner's interests but of course d.c. is used to 2 outcries within the christians and try to get the permissions to return home at least don't grow really so beasts is quite disturbing

events measures to be increased in the prisons because of course the inmates are very close to each other the possibility oh. the virus really means there but i mean all this out crossing is. not actually not just definitely. this is a bit of far mismatch in the provisions that the doctor says but on the other hand they say that means it really is a democratic country and there are a number of interests to be taken into account the e.u. has confidences and can intervene above the member states but even in this case because passage of the e.u. to intervene in this emergency as being very vague. calling in just the sort of solidarity among states which has not been seen. it's been revealed scores of south african women were sterilized and public

hospitals without their consent revelations have come to light in a new report and we spoke to one of the victims who found that her uterus had been removed only when she tried to get pregnant 11 years later. all of the b. was too big and they had to perform a c. section and remember when i walked up i asked them why they have reached by mitch or my family then they explained that the b. was too big and they include a nice 16 a good engaged after trying for about 4 to 5 months. without me being able to conceive with any thought i should go see a doctor just thought it was just my. infertility issues dr will prescribe medication opera fine and when it goes there that's when i learned that i didn't have to risk it all i don't think there was anything wrong with me i didn't have any complications before birth and i didn't have any complications after birth for

some reason for i'm known reason they just decided to move my uterus i'm seeing it and non-greasy in because as i'm sitting here at this moment i don't know why i was leading this to i lived when i met with dr ed ridge who confirmed that he was in the procedure happened he also could not give me the answer all you could say to me was that they did the operation to save my life i don't know to save my life from white the commission for gender equality investigated complaints from 48 victims south africa saw sterilization as a way to fight hiv and hospital staff for some of the women to sign consent forms according to the world health organization the country suffers from the world's largest each ivy epidemic more than $4000000.00 women are hiv positive according to the report illegal sterilization was carried out in 15 public hospitals between 20022005 the study was complicated by the fact that hospital staff had tried to

hide documentation or the victim we spoke to says she's not even hiv positive. i'm not positive are high. offices they're quite aware of this and i'll say this in camera they are quite aware of the practice and in a doing anything new i mean being held accountable it seems like our doctors of the law i didn't the same in the end i couldn't have signed it because at that time i was a minor and my mom who was there with me all the time also didn't same any quinson form no woman deserves to go through what i am going through and why 2 are all going through it is literally lyster lives i do not want to my daughter to be singing the same song that i'm singing today because it's time bearable with the pain that comes with this it's a it's unbearable and most of all. to my right as a human being we're very late and my regret is

a woman. my reproduction right were taken away from me and no woman ever and so therefore the should go through what we are through we have contacted south africa's health authorities for comment and will bring you any response meanwhile the health minister now wants to urgently investigate the issue. it trial has gotten underway in the netherlands of 3 russians and the ukrainian accused over the downing of flight m.h. 17 the malaysian airlines boeing was blown out of the sky over eastern ukraine almost 6 years ago killing all 298 people on board russia rejects the arctic accusations and claims the investigation is biased are to show a difference he has been following the case. we've been getting lots of information about how the court will proceed not just over the next few weeks but over the next few months and beyond this is all taking place at the court behind me which is this critical judicial complex in the shadow here of the airport where m.h.

17 made that final flight that fatal flight which ended in the deaths of 298 individuals what we know is that all 4 men the 3 russians and one ukrainian have denied the charges against them those charges of been suspected of being involved in transporting a book a missile from russia into eastern ukraine 3 of the men will be tried in absentia they are not here the 4th man or leg. is also not here but he has a defense team that he has appointed and he has denied outright all of the charges against him the names of the victims of the mh 17 crash will all read out to the court this morning the judge that had judge describing the heavy science in the court as people listened to those names he also talked about this being a court case that had already been played out in the media and he said it was

something that had fired debates we've also heard from the opening remarks of the prosecution team who talked also about the family victims and their statements. another relative explained in detail how the family responded how difficult it was he describes her sorrow like this everything feels meaningless i have no energy connection with life so. while this criminal trial will come as a relief for some for others it will be a heavy burden to bear every time the best occasion appears in the news one relative may feel home from their wounds reopened well the head judge described what happened to m.h. 17. is being an atrocious disaster he also said that while the 4 men are suspected of being involved in transporting that book missile from russia to ukraine and the trials will be held simultaneously they cases will not be joined we've been taking

a look back at how this court case arrived it's a trial it's set to last more than a year 3 russians and the ukrainian are accused of helping to bring a book missile launch from russia into eastern ukraine where it fired the fatal shot that brought down the boeing 777 some of those that we expect to be here are 13 secret witnesses whose identities are being protected and that's because dutch prosecutors say they face significant risks to their safety but even before the court has heard a single argument some are treating the trial as a story that already has no stone left unturned brushes probably involved and if involved they're probably going to cover it up 51 percent of russians and directly involved are right now it looks like it's russia's fault because. it's russia's fault. it's clear some don't need to wait for any court verdict to draw up their

own conclusions russia claims this kind of coverage has a clear intention going in the bit of media campaign has taken an unprecedented scale it shows how russia and its citizens are presumed guilty that is unacceptable it has been launched in the last few days prior to the hearings in order to compensate for existing gaps in the evidence and to conceal the attempts to manipulate the facts so that it fits with the chosen theory that prosecutors say they have evidence that the book a missile system was transported from russia into the donetsk region of ukraine in the days before it was fired now russia says that's not true it's presented evidence that the fatal missile serial number. can be traced all the way back to the 1980 s. when it says it was transported to ukraine then a member of the soviet union and it's there it stayed after the collapse of the u.s.s.r. but the joint investigation team into the mh 17 tragedy has russia says ignored

what it believes is a crucial piece of the jigsaw russia was also refused full participation in the probe and as such says it will not recognize the verdict reached here by the court despite the fact russia was denied being a full participant of the joint investigation team since the very 1st day of the tragedy the russian federation has actively assisted the investigation and during the past year is conveyed to a dutch colleagues a large amount of data connected with the mh 17 crash unfortunately most of these materials were ignored by the joint investigation team this includes a test by the book manufacturer to try and pinpoint the location it was shot from. russia claims that test shows the mis are likely came from an area controlled by

ukrainian forces but the findings were jacketed by the g i t with its report stating that russia and ukrainian rebels were responsible. we have established that the russian federation was complicit in the downing of m h 17 because they made available the weapon that was used to shoot down the plane we have all the material to substantiate that the official investigation also received criticism from malaysia 43 malaysians died in the catastrophe which involved the country's national carrier but his thought is they were not given full access to essential information that was contained in the black box of the flight recorders while the country's now. former prime minister has raised doubts from the very beginning we see too much politics in the idea was to find a hold this happened when not all there. seem to be concerned that it needs to be

on russia many relatives of those who were killed in the mh 17 disaster are expected to be present at the trial for them this is a court case about finding the truth and perhaps finding closure for a devastating chapter of their lives some have already crane for not closing it skies over a conflict zone in the east of the country but whatever the outcome here regardless of whether the 4 men are found guilty or innocent nothing will ever bring back their loved ones. r.t. them. of the day's top news for now as always thanks for tuning in.