global they went right into the account to steal money for jamie diamond j.p. morgan and they stole it from customer segregated money as a new unprecedented ripoff here nick clegg is saying go into granny's account go into grandpa's account just take that money put it down on this overpriced housing market while and then let the free market do this job let housing reflect the true supply and demand her the prices would come down to the point where people could participate in that market but instead they're going to continue to hype it by stealing money from granny and grandpa and this is a policy of braised of glee in geriatric genocide don't want to get rid of that generation completely what do you what's what's not clear going to do it is going to go down the street is going to trafalgar square or we're just put a gun to grandma said to give me your pension money on the block your front end up thanks nick clegg your real caring conservative your real nice guy. well speaking of grannies and hands we were talking about putting the hand in m.f. global's money the queen

commercial banks said on to invite the's board -- jamie diamond from j.p. morgan chase. >> if i worked at the new york fed but i get a -- do i get a check from the federal government? >> an interesting question that even the fed is not clear about. the federal reserve is very much part of the pro-government. the new york fed is this public- private institution -- indication when they are trying to beat back disclosure under the freedom of information act. they would say they are a private corporation. but obviously the very much involved in carrying out public policy. so, i think the check probably says new york fed. they are funded by dues that they collect from the bank with in their district as well as money earned from carrying out very much government functions. it is sort of an interesting problem i think what the system is that it is not entirely clear, but mostly they serve primarily a government function. >> you are going to serve the same role that bill burke bid for you, with somebody, to now and saying i've just been asked to go into pick your future c

pointing the finger in the right direction they were pointing the finger on wall street jamie diamond all those guy j.p. morgan chase those are the people we need to look at not public employee unions and workers and ok gentlemen gentlemen i want to stay away from chicago i want to go to islamabad ok why does been achieved against wall street in the last year the occupy movement has done nothing in that regard well i mean i i tell a few thoughts before that i mean she the problem is twofold one is that not only that you know you're feeling the pinch off not having enough funds but also the cost of living across the across the globe i mean i was in seventy eight countries and months ago and i saw that cost of living has gone up everywhere so the inflationary you know inflation is hitting everybody all all across whether it's us or europe or anyone else but at the same time we look at china and we look at the growth that the china has or maybe india for that matter and some of the other economies in the asian. continent so then we that does propose to question about the overall not only capitalism but also socia

out in public because they're afraid they're going to be chased down so jamie diamond you know go to a board meeting at j.p. morgan and there's doppelganger you know all dolled up like jamie diamond the real guys are in a bunker somewhere with life masters afraid to come out now that the silver liberation army has got their location taken summer hohner and speaking of those refusing to come on to the kaiser report and have a fair open honest debate there is tom woods from the me sees institute and he is saying we received a response from him via somebody else saying i have not received any correspondence from either person meaning me and said jaitley so i call your attention to this tweet of august twenty third as you can see i was having a conversation on twitter with tom woods and i said but anyway we should have you and bully on basis who is sending jaitley discussed on show so he's saying he hasn't heard from us but obviously he has and then he says as i have noted on my blog though i am not interested in debating rival interest theories and i doubt the general public has much desire for such a. well this is a

jamie diamond collateral transformation is feeling the most. fun quadrillion in infinitely levers toxic derivatives into treasury bills of a bank. stacey herbert tell us more max kaiser yes j.p. morgan and bank of america are leading the way on this first headline here big banks hide a risk transforming collateral for trade yes from next year we have the dodd frank rules coming in and that means that traders need to back their bets with u.s. treasury bonds or other top rated holdings so the problem is that the u.s. treasury bond market is ten point eight trillion dollars while the derivatives market is six hundred forty eight trillion dollars right right right right this is the collateral transformation scheme that's put forward by geithner and others is similar to the trans substantiation scheme that occurred oh i don't know five or six hundred years ago in the catholic church where they turned actually wafers into the bone of christ so you're taking basically something that is in a nerd object like an old toaster or a weed whacker or maybe some coloring books from tim geithner's grade school and you're saying this is collateral to back trillions of dollars worth of derivatives . w