the central banking revolution as the first headline calls it which i don't think a central banking revolution i just think it's outright war on an armed people around the world moody's gets no respect. as bonds fifty six percent of country ratings so the global bond market max disagreed with moody's investor service and standard and poor more often than not this year when the companies told investors that governments were becoming safer or more risky yields on solvent securities moved in the opposite direction from what they said fifty three percent of the time or fifty six percent of the time in the case of moody's so you know experts analysts interviewed in this piece for bloomberg said well governments should stop listening to the bond market because when they introduce a stary they say it's because we don't want to downgrade from moody's. well there you know getting back to the dance of the money fairies and you know the movies in the rain again you see nobody believes them because they were caught cooking the books for these banks and taking bribes for ratings so they are comp

world play in distorting it whether it's through central bank there are or q e or through private banks manipulating live or without question markets are manipulated and prices distorted our next guest has been making the case for years that the precious metals markets are no exception you know it's a tough one though because there isn't a smoking gun per se of libel or with gold though we may see the queen of england touring the bank of england vaults as we did just recently and you see there what we don't get to see is transparent disclosure of the gold transactions of central banks in terms of their lease things swapping that sort of thing now that we may know of this the f.t.c. these investigations into silver market manipulation been ongoing for years still with no results but here to discuss some of the latest developments in precious metals in light of what we do know are bill murphy and chris powell of the gold antitrust action committee better known as gap time and they are together at the same desk in our studio which is just so exciting thanks so much for being here gentlemen

that are giving away the central bank's largest ferry so. well you know you mentioned deflation and central bank and ferries and for over twenty years now japan has been in this state of deflationary collapse and now we have a new prime minister in voted in to really end this time to really really really stop it this time and japan's new government to get aggressive incoming prime minister albay values stimulus lower interest rates japanese voters max on sunday ousted the current government and set the stage for a new prime minister who is valued to adopt a large stimulus cut interest rates and take more measures to revive growth in the . third biggest economy right i mean look if you look at what the bank of england recently said vet by cutting rates they benefited homeowners and mortgage owners by seventy billion pounds at the same time they took from pensioners and savers one hundred forty billion pounds so it's not like they are you know people say oh the pentagon money out of thin air the printing of money in it it's not coming from any

luli impacts markets we have banks private banks across the world that were manipulating library which obviously is a scandal but we see this so many different places why is this an area that you guys have focused so much of your attention on and are really concerned about you've made it your mission it's because it's the destruction of markets and it's the manipulation of the value of all capital labor and goods and services in the world what they are doing. really behind people's backs. the tyrannical system that's what we're trying to expose and you think that the precious metals is the key to that because why because the central banks in seoul say so there was a an academic paper written about thirty years ago by lawrence summers who was then a professor of economics at harvard and robert parsky a professor of economics at the university of michigan explaining the relationship to traditional historic relationship between the gold price and interest rates basically they found that the gold is a determinant of interest rates it's the determinant of the price of government bonds that'

and the indeed the number of other supposedly too big to fail banks. because at the end of the day there is yet another inner circle of even more protected too big to be to fail banks who benefit from the protection of the i.c.c. the c. f.t.c. and other many other institutions which are designed to basically monitor and control what goes on but they also decide who lives and who dies and if you look at u.b.s. his decision to withdraw virtually from the fixed income business or the because you know banking business i think they've done that one sort of prudence and the other because they realize that that game is not going to work for them very much longer because the powers that be want someone else to be playing that game where you're describing there is a hierarchy that one sees in the mafia so the low level thugs get busted but the captains of the mob continue on now what about the accounting firms because. of course after the enron scandal arthur andersen was put out of business because their involvement in that scandal but of the remaining big fou

bank christian with just lending and payment processing those types of traditional bank commercial banking priorities and by doing that you will make them more resolvable but no yes i believe the f.d.i.c if they had to they can and they would seize control of the holding company and they could continue to fund subsidiary operate operations that were profitable and not insolvent spend the rest of the bankruptcy process so by by funding the holding company you could you could avoid a kind of systemic ramifications so with citi what you're so critical of everything is around in that book and that bank in the book you think if they were failing as politically connected as you know that they wouldn't get how well the political elections are absolutely the last reason why you should be selling out and you should never be allowed in this situation because of political connection of course and you shouldn't happen well you know call me pollyannish but i you know i believe in this country i believe in the rule of law and i believe you know treating everybody the same that's kind of what democracy i

world play in distorting it whether through central banks or q we or through private banks manipulating live or without question markets are manipulated and prices distorted our next guest has been making the case for years that the precious metals markets are no exception you know it's a tough one though because there isn't the smoke d.f.t. sees investigation into silver market manipulation it's been ongoing for years still with no result but here to discuss some of the latest developments in precious metals in light of what we do know are bill murphy and chris powell of the gold antitrust action committee better known as gap and they are together at the same desk in our studio which is just so exciting thanks so much for being here gentlemen good to be here alone it's great to have you so let's start with today gold and silver moving down not a lot of big news anything to see here. yeah actually it's been part of an an ambush attack by what we call the gold cartel for the past month they've been trading and when asian markets are thinly traded just about three weeks ago they hit the c

would require the japanese central bank to aggressively lower interest rates a policy the bank of japan has been reluctant to adopt abbay could force the confrontation and try to chip away at the bank's independence unless it relents they're going to force the yen lower to try to boost their exports because their economies are not self-sufficient at the same time europe is going to lower their rates jack their rates lower us is going to the rates are going to go lower santa global currency war is going on global currency debasement and so make up for the shortfall that shadow banking system continues seventy eighty ninety one hundred trillion and shadow banking claims and as long as interest rates are zero or are less than zero the shadow banking system is invisible once interest rates tick up which will come with a bond crash because bonds are at multi hundred your eyes then the shadow banking system will eclipse the real banking system and everyone is thought they had something to nickels to rub together will be flat out broke remember and japan is about to enter the global bond marke

condition the debt is a zombie banks are creating zombie banks or quantitative easing or not let you know they don't want to take place and letting the bad banks go bankrupt you're keeping them afloat for the shape credit in the eyes you know these are taking iowa we are doing in britain and that's right that's what we're doing in britain the idea of doing it originally was that you would circumvent a bad banking can banking system by placing it with an infected institutions which would allow you to slowly wind down the zombies before they make the whole system contagious and stop all economic i think this is this is a you know no no no. obviously we didn't win so you know then sweden they did this they created the bad banks they nationalized everything they worked through the dead stood a bad bank scenario and they restarted some new banks but here they didn't do that they bailed out the corrupt they bailed out h.s.b.c. barclays lloyd royal bank of scotland no scoundrels they just gave them money and they said well we don't want to cause too much of a disruption here so we're going

to offer appear to be peer lending schemes but you know the banks will fight it and the banks will fight it just like the hollywood fights the innovations and the content business and the copyright business so for example in hollywood strip protect the monopoly positions of hollywood producers they have. transformed the internet from an interactive to a medium to a one way cable t.v. type model that's their goal so they're destroying this entire potential growth sector of the economy the internet to keep this the old style alive same thing for the banks they have an incredible lobbying presence in the u.k. and around the world they will do whatever it takes to stop any competition so they will vilify the internet though if they have to they'll have more pedophile scandals to try to make the paint thinner and the bad brush to stop. the internet they'll do anything at any cost to stop competition from arising we can i can predict that with certain things well and you holding told the independent he said quote the motto banking culture we have had since the one nine hundred ninety s. is on

a bank here in the u.k. h.s.b.c. that was caught. financing terrorism laundering money for mexican drug cartels and they're involved in the library scandal with all the other banks so isn't it about time peter schiff that you know we start to look specifically at these individual banks and say they're running a criminal enterprise that we they're they're very much a part of this problem peter well i think the problem though emanates from the government and the power and protection it can extend to these banks and it's like no one to set out this entity that is corrupt and that can peddle its influence to the highest bidder once you start that game then it's like well can i blame the bankers for playing that regain to their advantage you know it's like if you want to kill the steak you got to cut off the head and the head of the snake is the government and the federal reserve and their power to create money out of thin air and the regulations and the taxes that they impose on the economy to benefit their frie

ways of organizing banking the worst is the one we have today so what characterizes banking we have fee up money money backed by nothing notes and coins are just paper money in token coins. but actually most of the money supply is accounting entries but it doesn't account for anything it's just an accounting entry so that's the first thing we have fractional reserve deposit taking which means that when you put your money in the in your current account it belongs to the bank they're able to use it to fund themselves the taxpayer funded deposit insurance lender of last resort central planning all of these things taken together are hugely destabilizing and actually they're not helping so how would it work the way it would work in free a free banking system you'd have commodity is the basic a commodity is the basis of money normally gold or silver in the past you wouldn't have limited liability for bank directors and again that used to be normal people used to accept partnerships trustee savings banks mutuals instead of profit making because the various factors involved. in a toxic take

banks people close to banks the state it's just further distorting our economy towards banking towards hosing towards the state and that's really is not healthy direction of travel the us as we know has done a lot of quantitative easing how much inflation is the u.s. exports globally with that policy well i think it's the us is exporting considerable inflation in fact if you look i don't know particular gold bug but there's a wonderful website priced in gold dot com if you look at the price of oil in gold it's been stable since the end of the second world war it's been low and stable the prices hardly increased in fact last time i checked the price of oil in gold was lower than it was at the end of the second world war if you. look at the price in dollars of course since one nine hundred seventy one the price of oil has been high in very volatile and there's something going on here that are there is obviously to do with the supply of dollars because the supply of gold is relatively fixed supply of dollars is relatively volatile and as a result the result which is that universal global

morgan chase citibank bank of america all these banks lied to them so there is now there is a law that goes back to eight hundred sixty three that is used to trap mere mortals so they could use this against time bankers they need they own the president are saying and they need to put people in the prisons because they own a prison in the presence of publicly traded in their bonuses are based on options tied to the price of the prisons that are trained on the exchange that need to be filled up so they chop up these charges but these innocent people in jail while the perpetrators go from so estimates of the potential cost of these mortgage put backs in these crimes of three hundred billion dollars there's a trillion though in in bad toxic assets that were so. well to include an f.h.a. face and senate fannie mae and freddie mac. so that's a huge thing we're going to keep track of that over into the next new year but i want to talk about to fail not to bail that's what i've come up with not seem to lead he's to fail not to bail on the kaiser report because of course according to this three

and every other bank that makes this argument because trust me every other bank does make this argument they should say you get to make this one time a one time only and part of not giving you the death sentence of a criminal indictment here you're going to have to break yourself up so that you can never make this argument again so that you can't be so systemically significant yeah i think those are sort of two has the same good desirable goal that a protector system seems like that should have been a good concession for the settlement hopefully we will see that we're going to talk more you know brocky more i want to get to with you former as special inspector general of tarp author a lot more in just a moment and also still ahead main opposition leader in japan shinzo abe was elected prime minister what does this mean for keeley and jumpin couldn't borrow. if it's unlimited and if inflation targets go up to two percent well this guy's in loose change but first your closing market numbers. are low. elite. little. ily ily . you know how sometimes you see a story and it seems so for lengt

maybe for banks it's 20 years. but if you go out to to 20 30, i would argue the banking landscape will be hugely changed. >> good to see you. aerospace shareholders have agreed on a deal designed to make eads more independent and will hand an equal 12% stake in the company. stefane joining us thousand. is this going to happen and if they get to this position, will they try and have another go with bae? >> we don't know if they will go with bae, but the plan a few months ago was the main reason they needed to share their governance policy. but it will reduce political interference in the company and make it more attractive to private investors. government will cut their total stake to 30% which means that 70% of eads will float freely on the market. the french and german government have agreed to have a 1212% stake each in the company. spain will have 4% stake. which means european government will no longer have their say in running the company. apart from strategy differences, they will no longer be able to name bo

it is the second raid on the bank. this may be the tip of the iceberg for germany's biggest bank. >> our chief correspondent is falling this story for us now -- is following this story for us now. possibly that of the iceberg -- the tip of the iceberg. >> this report and then goes back a couple of years. this is one of the biggest raids so far. authorities they have good reason to believe the bank's co- ceo was involved in illegal activity. as your report said come fitschen and the -- said, fitschen and the bank are claiming that the talks documents -- the tax documents were amended in time. it does look like an attempt to play fast and loose with value added tax reporting, and that is a very big public-relations disaster for the bank because it comes on top of a number of other investigations, all of them asking some questions about credibility of the bank. at a time when both ceos had claimed -- ceo's had claimed they were providing more transparency and more responsibility. >> this is germany's biggest financial ins

a terrorist organization and the central banks to cover up their terrorist activities have to engage in policies that now are running out of their effectiveness now. did there need to be an admission that there will be no growth unless financial terrorists are somehow. this is somehow addressed i don't i don't i just don't understand why this is such a big issue in this country that the country is being held at gunpoint by h.s.b.c. the big four banks but you have to if they want to say that nine eleven was an act of terrorism they have to admit that they themselves are terrorists or admit that nine eleven was a nonevent was just another day in the life of financial terrorism that's what h.s.b.c. is begging you the public to to accept as their business model get over it if you die there happy deal with it. so terrorism and genocide whole accost terrorism genocide whole accost whole cost holocaust holocaust machos that's that's what we have whole cos holocaust holik cost. monetized that's what they think they can every dead body and they put a price tag on it and it's on their books as

is what i think the central bankers look like is they're jumping into the dark pools in the shadow banking system and don't know what the heck they're doing but this you're having fun having fun i mean i'm still gobsmacked that h.s.b.c. admitted to being a financial terrorist this past week something we've talked about for a while they finally came out and said yeah we laundered money for terrorism and drug monitoring jug drug laundering cartels in mexico and i think it's some of the moment that they come up to being terrorism so let's look at some sane voices looking at these western central banks. running a deranged policy monkeys that don't understand the universe in which we inhabit the central bank backlash first hong kong now australia gets ugly case of two thousand us so first the hong kong monetary authority recently said that it was over borrowing and over leveraging and essentially fraudulent lending that caused the financial collapse so all of the quantitative easing is going to do nothing and now glenn stevens the head of the central bank of australia has spoken in the past wee

you know i take it that breaststroke you know it's the major investment houses that act as a bullion banks that are backstopped by the the western central banks that are basically their masters in the gold market they know they can trade in the gold market as long as they're doing what the central banks want them to and if they ever run short of gold the central banks are there to provide it if this is the case why is this anything to write home about i mean we hear about manipulation by high frequency traders using quote stuffing to make an extra buck we have central banks globally which absolutely. turnabout you made it your mission it's because it's the destruction of markets and it's the manipulation of the value of all capital labor and goods and services in the world what they are doing is is really to seize control of of everything economic in the world and really surreptitiously behind people's backs it's a essentially tyrannical system that's what we're trying to expose and you think that the precious metals is the key to that because why because the central banks themselves say s

the bank of tokyo mitsubishi is set to buy a 20% stake in vietnam's second largest bank. the vietnamese government around $720 million for the shares in the first half of next year. funding requirements are rising in emerging asian countries. tokyo mitsubishi wants to expand its profit in the region by 50% in the next three years and this deal with just one part of its plan. it's already formed alliances with banks in indonesia, myanmar and is looking in thailand and india for new partners. asia, especially southeast asia is an emerging hot market for other japanese lenders, too. mizuho will set up firms which set up shop in laos given its labor costs and low political risks compared to china. >>> now let's get you the latest results of spain's auction debt. the country is seeing lower yields than the last time it went to market and higher demand. 2015's bid to ratio, 4.8 versus 2 the last one, 3.1 versus 2.6 for the 2017 and the 2040 saw a 2.1 bid to cover. of course, when it comes to the yield, i would give you a sense of what we're seeing on these. 2015 maximum yield c

stevens the head of the central bank of australia has spoken in the past week and he says that the balance sheets of central banks have recent wartime levels and he shows these charts and you can see it's quite dramatic but he says in terms of the policy response there is a discomfort in some quarters that central banks appear to be exercising an unprecedented degree of discretion introducing new policies eeling uncertain benefits and possible costs well what they're talking about as you are i think alluding to here is that the central banks have been expanding their balance sheets to hide the d. leveraging that's had to happen as a result of the criminality of the big banks who committed terrorism and just b.c. has said yes we are a terrorism. a terrorist organization and their central banks to cover up their terrorist activities have had to engage in policies that now are running out of their effectiveness now did there need to be an admission that there will be no growth unless financial terrorists are somehow. this is somehow addressed i don't i don't i just don't understand why this i

world bank or the all the goldman sachs and j.p. morgans of the world and they didn't suffer so much this last time they didn't have any of those toxic derivatives they knew that they weren't trash but another part of the global economy of course is wealth creation and jobs and a few years ago in two thousand and ten we covered andrew grove of the cofounder of intel and he was he wrote a piece in bloomberg opinion piece of called how to make an american job before it's too late and we were at the time he looked across america and here's a guy who created a huge global international multinational company creating wealth. and he said quote it is impossible to innovate independently of the manufacturing an r. and d. base innovation is based on state of the art knowledge of what is being done and if the doing is done elsewhere the would be innovator will find himself at a disadvantage even fact what he said has turned out to be true manufacturing in the us is making historic comeback so general electric has a place called appliance park

this is not an ordinary bank. it's a community bank. and unlike all those big banks that were mentioned, you can sit down and talk to these people. they understand what merchants need to sort of build the community to kind of invigorate what is happening. i think it's a modest request for 200 square feet. the place has been vacant. and i think it should be filled with some people that are ready to be active in the neighborhood. when this was first mentioned, i checked around with some other commercial districts that have sterling branches and i called merchants that we know. and said, hey, are they the real deal? do they really support -- are they active? and it came back up aloe questionv li yes, they support the neighborhood. they're volunteer. they support financially. and west portal needs that. we're a small commercial district. times are changing these last 20 years with internet and whatnot. * and we need to attract more business he and that's not going to happen by itself. we want to invigorate the street and i'm looking forward

as bad as world war says bank of england's and you haldane and he is the bank's executive director for financial stability max and he said quote in terms of the loss of incomes and outputs. this is as bad as a world war it would be astonishing if people weren't asking big questions about where finance has gone wrong well and paul moore who is on this show former regulator days boss top regulator he made the exact same question any said that it's like a world war that there are one hundred million people they've been thrust back into poverty as a result of this you know maybe baby stucky will be thrust back into poverty at some point i'll have to sell as silver plated spoon that he was born in the mouth with but you know the devastation is only going to continue because the zombie banks here are being allowed to stalk. stocks the economy no wonder no one's got the silver spike to put the zombie banks out of out of our misery well the fact is maybe snooki is going to be fine it's going to be the scum villages into which all the people are pushed because the bankers are building their own

of micro financing it totally transformed the banking industry and bank of passion women were able to get money micro loans to take them out of poverty and it was so successful that the big banks swooped in and they destroyed that industry and the nobel prize winning inventor of the industry was thrown tossed to the curb. so this is unfortunately you're dealing with an entrenched monopolist oligarchies that will stop at nothing to prevent competition from coming to the fore if these new technologies and platforms gain critical mass then the banks will stop at nothing to get in the competition that's that's unfortunately we have a whole gospelly in place i do think you know they could try all they want but there is a different sector there are people who know how to code right there are people who know how to innovate there are people and innovation is important it's the mother of the miss essie is the mother of invention and this is what and you whole thing does point out he said. necessity is often the mother of invention now that the big banks are retreating from lending after the c

bank wandered billions from mexico's murderous drug gangs now they're referring to walk over to a bank which now is owned by wells fargo but it laundered a three hundred seventy billion dollars and mexican drug cartel cash they paid a fine less than two percent of their two thousand and nine profits at the height of the two thousand a banking crisis antonio maria costa then head of the united nations office on drugs and crime said he had evidence to suggest the proceeds from drugs and crime were quote the only liquid investment capital available to banks on the brink of collapse quote interbank loans were funded by money that originated from the drug trade there were signs that some banks were rescued that way so if these banks are too big to fail too big to jail what about these mexican drug cartels or the italian cartels who are the ones who ultimately rescued all these banks yet want to put to much of a drug cartel leader as the new head of the bank of england forget mark carney that hockey puck to the head braindamaged idiot put a mexican drug cartel leader in charge of bank of eng