welcome back to the kaiser report imax kaiser i'm pleased to welcome to our studio world renowned mathematician and monetary scientist professor talf the cat of the new austrian school of economics and for cancer research professor welcome to the kaiser report thank you my it's a pleasure to be here people are extremely excited to have you on the show and others have copied you but it was you who pioneered the importance of observing the gold basis as a sign of global financial distress explain gold basis and what is currently telling us about the global financial system you should think of the gold base is the most sensitive. to. ever. a lot of people talk about the prize that is being manipulated well i tell you the good news is came out the manipulating what is the basis for break it down for us i tell you the base is very simply the difference between the cash price of gold and the future price of gold because there's a cash market for gold and there's a futures market and the prices diverged and the difference is very very sensitive and the whole story would take several lectures to explai

welcome back to the kaiser report imax kaiser i'm pleased to welcome to our studio world renowned mathematician and monetary scientist professor at talf the kept of the new austrian school of economics and for cancer research professor welcome to the kaiser report thank you max it's a pleasure to be here people are extremely excited to have you on the show and others have copied you but it was you who pioneered the importance of observing the gold basis as a sign of global financial distress explain gold basis and what is currently telling us about the global financial system you should think of the gold base is the most sensitive. indicator and where ever. a lot of people talk about the prize that is being manipulated well i tell you the gold mooses cannot be manipulated what is the basis for break it down for us i tell you the base is very simply the difference between the cash price of gold and the future price of gold because there's a cash market for gold and there's a futures market and the prices diverged and the difference is very very sensitive and it does the whole story which takes s

welcome to the kaiser report imax kaiser i tell it to you to get out of. to get out of sterling and out of stricken some of us on wall street are agreeing with me yeah the bond apocalypse which is by the way a term that i now claim ownership. u.b.s. tells clients to get ready for the bond pocalypse u.b.s. is planning a mass mailing to many of its brokerage clients alerting them that they have been reclassified as aggressive investors following a recent change in its market outlook that some people inside the firm say reflects a growing bearishness in the bond market particularly over the long term some acts yeah why are they reclassifying clients as aggressive if you were a client or if you were the broker sending out this letter what is going on here right well when you open an account at a brokerage firm per the laws of going back to thirty three and thirty four the know your customer rules you have to fill out what the profile of the customer is whether they're conservative whether they're aggressive and typically if they are conservative then they woul

welcome back to the kaiser report imax kaiser time at cern to anthropologist david graber author of debt the first five thousand years david graber welcome back to the kaiser report thanks so much for having me all right david graber all the talk is of global currency war from money printing to devaluations to gold repatriation but was it the collapse of the debt markets that happened first is the debt based system falling apart. yeah i would say that i think that we're at a point where people are. posting along because it's the only thing they know how to do and basically a lot of them don't care if the whole thing falls apart that's why two thousand and eight happened to begin with but i get the impression that there's maybe five ten percent of the people running things who actually care about the long term viability the system and when i talk to these guys they're freaking out i mean they realize they're about to hit three different walls at the same time claymore what three different well i mean there's the debt overhang there's the the logical. collapse there's a whole series of obv

welcome to the kaiser report imax kaiser i told you to get out of. told you to get out of sterling and out of the stricken tomatoes of wall street are agreeing with me yeah apocalypse which is by the way a term that i now claim ownership. u.b.s. tells clients to get ready for the bond pocalypse u.b.s. is planning a mass mailing to many of its brokerage clients alerting them that they have been reclassified as aggressive investors following a recent change in its market outlook that some people inside the firm say reflects a growing bearishness in the bond market particularly over the long term some acts yeah why are they reclassifying clients as aggressive if you were a client or if you were the broker sending out this letter what is going on here right well when you open an account at a brokerage firm per the laws of going back to thirty three and thirty four the know your customer rules you have to fill out what the profile of the customer is whether they're conservative whether they're aggressive and typically if they are conservative then they wo

welcome to the kaiser report imax kaiser i told you to get out of. to get out of sterling and out of stricken tomatoes on wall street are agreeing with me yeah the bond apocalypse which is by the way a term that i now claim ownership. u.b.s. tells clients to get ready for the bond pocalypse u.b.s. is planning a mass mailing to many of its brokerage clients alerting them that they have been reclassified as aggressive investors following a recent change in its market outlook that some people inside the firm say reflects a growing bearishness in the bond market particularly over the long term some acts yeah why are they reclassifying clients as aggressive if you were a client or if you were the broker sending out this letter what is going on here right well when you open an account at a brokerage firm per the laws of going back to thirty three and thirty four the know your customer rules you have to fill out what the profile of the customer is whether they're conservative whether they're aggressive and typically if they are conservative then they would

welcome back to the kaiser report imax keyser time at cern to anthropologist david graber author of debt the first five thousand years david graber welcome back to the kaiser report thanks so much for having me right david graber all the talk is of global currency war from money printing to devaluations to gold repatriation but was it the collapse of the debt markets that happened first is the debt based system falling apart. i would say that i think that we're at a point where people are coasting along because it's the only thing they know how to do and basically a lot of them don't care if the whole thing falls apart that's why two thousand and eight happened to begin with but i get the impression that there's maybe five ten percent of the people running things who actually care about the long term viability the system and when talk to these guys they're freaking out i mean they realize they're about to hit three different walls at the same time claymore what three different well i mean there's the debt overhang there's a logical. collapse there's a whole series of obviously not viable

welcome back to the kaiser report imax keyser time editor in two anthropologist david graber author of debt the first five thousand years david graber welcome back to the kaiser report thanks so much for having me right david graber all the talk is of a global currency war from money printing to devaluations to gold repatriation but was it the collapse of the debt markets that happened first is the debt based system falling apart. yeah i would say that i think that we're at a point where people are coasting along because it's the only thing they know how to do and basically a lot of them don't care if the whole thing falls apart that's why two thousand and eight happened to begin with but i get the impression that there's maybe five ten percent of the people running things who actually care about the long term viability the system and want to talk to these guys they're freaking out i mean they realize they're about to hit three different walls at the same time claymore what three different well i mean there's the debt overhang there's a logical. collapse there's a whole series of obvio

welcome back to the kaiser report imax keyser time out of turn to answer apologist david graber author of debt the first five thousand years david graber welcome back to the kaiser report thanks so much for having me right david graber all the talk is of a global currency war from money printing to devaluations to gold repatriation but was it the collapse of the debt markets that happened first is the debt based vs system falling apart. yeah i would say that i think that we're at a point where people are coasting along because it's the only thing they know how to do and basically a lot of them don't care if the whole thing falls apart that's why two thousand and eight happened to begin with but i get the impression that there's maybe five ten percent of the people running things who actually care about the long term viability the system i want to talk to these guys they're freaking out i mean they realize they're about to hit three different walls at the same time claymore what three different well i mean there's the debt overhang there's a logical. collapse there's a whole series of o

welcome to the kaiser report imax kaiser i told you to get out of. to get out of sterling and out of stricken to wall street are agreeing with me yeah apocalypse which is by the way a term that i now claim ownership. u.b.s. tells clients to get ready for the bond pocalypse u.b.s. is planning a mass mailing to many of its brokerage clients alerting them that they have been reclassified as aggressive investors following a recent change in its market outlook that some people inside the firm say reflects a growing bearishness in the bond market particularly over the long term so max yeah why are they reclassifying clients as aggressive if you were a client or if you were the broker sending out this letter what is going on here right well when you open an account at a brokerage firm per the laws of going back to thirty three and thirty four the know your customer rules you have to fill out what the profile of the customer is whether they're conservative whether they're aggressive and typically if they are conservative then they would migrate over to the b

the kaiser report imax kaiser i told you to get out of. get out of. and out of. wall street are agreeing with you. yeah the bond apocalypse which is by the way a term that i now claim ownership. u.b.s. tells clients to get ready for the bond pocalypse u.b.s. is planning a mass mailing to many of its brokerage clients alerting them that they have been reclassified as aggressive investors following a recent change in its market outlook that some people inside the firm say reflects a growing bearishness in the bond market particularly over the long term so max yeah why are they reclassifying clients as aggressive if you were a client or if you were the broker sending out this letter what is going on here right well when you open an account at a brokerage firm per the laws of going back to thirty three and thirty four the know your customer rules you have to fill out what the profile of the customer is whether they're conservative whether they're aggressive and typically if they are conservative then they would migrate over to the bond market which are perceived to b

welcome to the kaiser report imax kaiser i told you to get out of bons i told you to get out of sterling and now the stricken tomatoes on wall street are agreeing with me yeah the bond apocalypse which is by the way a term that i now claim ownership. u.b.s. tells clients to get ready for the bond pocalypse u.b.s. is planning a mass mailing to many of its brokerage clients alerting them that they have been reclassified as aggressive investors following a recent change in its market outlook that some people inside the firm say reflects a growing bearishness in the bond market particularly over the long term so max yeah why are they reclassifying clients as aggressive if you were a client or if you were the broker sending out this letter what is going on here right well when you open an account at a brokerage firm per the laws of going back to thirty three and thirty four the know your customer rules you have to fill out what the profile of the customer is whether they're conservative whether they're aggressive and typically if they are conservative then they would migrate over to the bond

welcome to the kaiser report imax kaiser that it is going out the trends are reversed saying the sands are shifting all signs that the four horsemen of the bond apocalypse are riding into town and when they arrive all that you thought you knew to be true will in fact be false house prices always rise false bonds are safe investments false gold money false your toilet will flush when you push the handle that's completely false all things that were true are false when the bought apocalypse arrives stacey max for decades we've lived in a world where bond prices have been rising and commodity prices were declining however as the crisis hit the crisis hit once that started to reverse and we see in all of our headlines today. the fundamental nature of all the world around us is changing due to these reverse in trends of prices. swiper take twilit as u.s. homes with plumbing ebb amid the worst recession since the great depression pilfering cut the number of u.s. homes with complete plumbing by about ten point four percent from two thousand and eight to two thousand and eleven according to a u

welcome to the kaiser report imax kaiser you know karl marx once said the last banker we shall be the one who sold us the roller coaster you say i've just learned there's a roller coaster designed to kill passengers so naturally i thought that sounds a whole lot like wall street up down up down. the amusement park version of this roller coaster designed to kill passengers it's called the euthanasia coaster it reaches i have sixteen hundred feet followed by a steep climb it and then seven consecutive loops in which it suicidal passenger spends upside down while traveling a speed of two hundred twenty three miles per hour the gravitational forces ten g.'s enough to kill a person by draining the brain of all blood and oxygen cerebral hypoxia yes the financial casino gulag version of the ride is called the flash crash and reg markets ride. on this wall street flash crash every ounce of wealth is drained from your pocket as the gravitational pull of multiple fake trays traveling faster than the speed of light go for enough g.'s to kill your entire portfolio death by financial hypoxia stacy

welcome back to the kaiser report imax keyser time at cern to answer apologist david graber author of debt the first five thousand years david graber welcome back to the kaiser report thanks so much for having me all right david graber all the talk is of global currency war from money printing to devaluations to gold repatriation but was it the collapse of the debt markets that happened first is the debt based system falling apart. yeah i would say that i think that we're at a point where people are coasting along because it's the only thing they know how to do and basically a lot of them don't care if the whole thing falls apart that's why two thousand and eight happened to begin with but i get the impression that there's maybe five ten percent of the people running things who actually care about the long term viability the system i want to talk to these guys they're freaking out i mean they realize they're about to hit three different walls at the same time claymore what three different well i mean there's the debt overhang there's a logical. collapse there's a whole series of obvio

welcome to the kaiser report imax kaiser that side is going out the trends are reversed saying the sands are shifting all signs that the four horsemen of the bond apocalypse are riding into town and when they arrive all that you thought you knew to be true will in fact be false house prices always rise false bonds are safe investments false gold money false your toilet will flush when you push the handle that's completely false all things that were true are false when the bought apocalypse arrives stacey max for decades we've lived in a world where bond prices have been rising and commodity prices are declining however as the.

welcome to the kaiser report imax kaiser and i'm here to tell you that we are living in a post industrial cargo cults lots of cargo cult us according to wikipedia a cargo cult is a religious practice that has appeared in many traditional pre-industrial. i will societies in the wake of interaction with technologically advanced cultures the cults focus on of chaining the material wealth i.e. the cargo of the advanced culture through magic and religious rituals and practices kind of like pressing control pre.

welcome back to the kaiser report imax kaiser time that it started john butler is the chief investment officer at them for a capital prior to launching m. for a john work for deutsche bank and lehman brothers john butler welcome back to the kaiser report thank you x. always a pleasure all right now john butler interesting phrase picked up from your book actually that failure pays more than success in this banking industry talk about that a little bit well if you look at the financial crisis and look at how we got into it obviously banks played a central role they took on too much leverage they didn't capitalize themselves enough against the risks they were taking now some of them say they didn't understand the risks they were taking i think these people are a bit too clever and sophisticated to not have understood to a tremendous degree the risks they were taking but isn't it tempting if you don't capitalize your firm sufficiently against the risks are taking it allows you to pay out more in salaries and bonuses and then if for. if you do sail to close the wind and you do get taken out

welcome to the kaiser report imax kaiser i told you to get out of told you to get out of sterling and now the stricken tomatoes on wall street are agreeing with me yeah the apocalypse which is by the way a term that i now claim ownership. u.b.s. tells clients to get ready for the bond pocalypse u.b.s. is planning a mass mailing to men.

welcome to the kaiser report imax kaiser oh what a wicked web we when first we practice to deceive said sir walter scott about the global derivative markets natch or at least he could have the deception at the heart of the director's market is of course that risk can be separated from reward and once removed.

the kaiser report imax kaiser you know what's wrong with this economy it's all built on a foundation of yes the united states is an empire led by a teleprompter it is an empire of debt spanning the globe a bloody culmination of forty years of pushing trading a shadow banking system collateralized by a combination of liar loans and temp workers consuming genetically modified food like products. it for this yellow cake breaking talcum powder shaking perpetual war making balloon boy chasing fake it to make it economy we're all the heroes of fake girlfriends and steroids and. we have a new rockstar for a phone. call you stacy yes max this is rob university rob you his real name is robert weenie and he faces. he faces thirty years i'm for isn't for defrauding some banks front man for l.a. ben charged with six million dollar loan fraud so over a two year period max this guy went to comb america which is a regional bank based out of dallas and managed to secure six million dollars in loans based on the fact that he looked like a rock star and he had one you tube video which had one point fo

welcome back to the kaiser report imax kaiser time that it started john butler is the chief investment officer at them for a capital prior to launching m. for a john work for deutsche bank and lehman brothers john butler welcome back to the kaiser report thank you max always a pleasure all right now john butler interesting phrase picked up from your book actually that failure pays more than success in this banking industry talk about that a little bit well if you look at the financial crisis and look at how we got into it obviously pink's played a central role they took on too much leverage they didn't capitalize themselves enough against the risks they were taking now some of them say they didn't understand the risks they were taking i think these people are a bit too clever and sophisticated to not have understood to a tremendous degree the risks they were taking but isn't it tempting if you don't capitalize your firm sufficiently against the risks are taking it allows you to pay out more in salaries and bonuses and then if for. if you do sail too close to the wind and you do get tak

the kaiser report imax kaiser i told you to get out of the.

welcome to the kaiser report imax kaiser if you need to ask what exactly is in your ready mail chances are you don't really want to know if you need to ask what is in your mortgage backed security chances are you don't really want to know i mean do you really want and that there is a bit latest horsemeat in your cd.

welcome to the kaiser report imax kaiser i told you to get out of. to get out of sterling and out of stricken tomatoes on wall street are agreeing with me yeah.

welcome to the kaiser report episode number four hundred imax kaiser for four hundred episodes we've been exposing markets finance scandal jamie diamond silver liberation german gold collateral faking zombie banking paper printing the bond apocalypse currency wars oh these globe. yes max so bill's above is in the headlines but first i wanted to set this up in that you and i watched an interview with the legendary photojournalist who is often a war war reporter don mcmullen and he said referring to his time in vietnam he said that he often slept next to corpses and in war one gets used to that and of course kaiser e poor is a financial war report and it made me realize with all these dead bang see zombie banks and zombie economies it seems that people have gotten use to just the corpses all over the place and they don't even notice the smell any war is down mcallen referred to so of course i have this image of bill's above that's not even a doctored photo it's not a william bonzai seven it is the president last week when i fly landed between his eyes and of course either he's bill's a

welcome to the kaiser report imax kaiser if you need to ask what exactly is in your ready mail chances are you don't really want to know if you need to ask what is in your mortgage backed security chances are you don't really want to know i mean do you really want to know that there is a boot laced horsemeat in your c.d.o. infinitely re hypothecated m.f. global debt in your burger or is that the other way around it's so hard to keep track with all these conflicting statements from the f s a's stacy exactly max l. every single night on the news here there's a problem that the f.s.a. was supposed to be responsible for and of course that's because there's the financial services authority and the food standards agency and it is that the two scandals otherwise are as crimes are very similar in the conduct of the authorities and the regulators and the participants in it could exactly be the same but yeah it's fantastic because they both lead to. a decline in living standards and inflation you know because when they chop up the mortgage backed securities and i chop up the bond they securitize

welcome to the kaiser report imax kaiser i want to talk about trickle down stupid last week a judge in the u.k. dismissed a jury for being too stupid to understand even the most basic english words or concepts of trial by jury like guilty beyond a reasonable doubt what's that they ass oh or i know the british media mock the stupid jury of morons and idiots and yet does the british media snicker when finance ministers banking regulators departments of justice and presidents the united states ask when presented with evidence of libel or rigging market manipulation fraudulent selling of securities money laundering but is this a crime they ask bankers ever be guilty they ask stupidly u.s. and attorney general eric holder when presented with not only evidence of a crime but a fricken confession of h.s.b.c.'s guilt for drug money laundering and terrorism financing asks. should i as head of the u.s. justice department charge them with a crime or how about president obama when asked why his justice department had done nothing against the criminals responsible for the smoldering wreckage a fina

welcome to the kaiser report imax kaiser if you need to ask what exactly is in your ready mail chances are you don't really want to know if you need to ask what is in your mortgage backed security chances are you don't really want to know i mean do you really want to know that there's a boot laced horsemeat in your c.d.o. infinitely re hypothecated m.f. global debt in your burger or is that the other way around.

welcome back to the kaiser report imax kaiser time now to turn to sandeep jaitley of the cancer research dot com sandeep welcome back to the kaiser report thanks very much mike all right sunday is the big news and marconi bank of canada now he's joining going to be there on the bank of england your thoughts i haven't really given much thought to a new governor of the bank of england he's being quite very suv in what he's going to be attempting to be doing. but he seems to be the currency debasement kind of philosophy before we get into currency debates but let's kind of put this into a broader context because these days people need to have a signal in terms of what schools are from and in the case of yourself to your broadly speaking austrian economist through and mark carney i think we it's hard to put him into a school but he's awfully from a neo liberal chicago school milton friedman type of economist who believes in the sanctity of economics as a hard science and let me ask you the study uses the term for example of the u.k. economy needs to. achieve escape velocity. and i think i kn

welcome back to the kaiser report imax kaiser tried out a charger jav squirrel's of the real job at a jag welcome back to the kaiser report thank you for having me all right jeff skiles is staying with this week's g. seven finance ministers essential bankers insist that they remain committed to exchange rates driven by the market not government policy do you believe i don't particularly believe that and i think that the statement came out from the g seven was quite confusing for everyone because they basically said that they don't support people that are facing their exchange rates individually as a as a collective group it was hinted that that might not be such a bad idea like they did back in two thousand and nine or the t twenty but they support it maybe in domestic monetary policy action say we all know that there's a currency war going on and we're heading that way through valuation of currencies is happening and whether it's probably happening or it's just happening individually you know. statement can change that fact to where everyone is clearly say so yeah there's a g. twenty

welcome back to the kaiser report imax kaiser tried out a chartered jam squirrels of the real asset to open a jad welcome back to the kaiser report thank you for having me all right jeff skiles is staying with this week's g. seven finance ministers essential bankers insist that they remain committed to exchange rates driven by the market not government policy do you believe i don't particularly believe that and i think what the statement came out from the g. seven was quite confusing for everyone because they basically said that they support people that are facing their exchange rates individually as a as a collective group and it was hinted that that might not be such a bad idea like they did back in two thousand and nine or the g twenty but they support it maybe in domestic monetary policy action and say we will neither there's a currency war going on and we're heading that way in devaluation of currencies is happening and whether it's really happening or it's just happening individually you know it may state can change this fact to what everyone is clearly say so yeah there's a g. t