of course is in the picture you see in this newsweek article and that is people with images of jamie dimon the head of the c.e.o. of j.p. morgan chase the biggest bank in america one of the biggest banks and as you see they have sacks of money there that they're saying that he stole from the american taxpayer well that's right the arab spring as they call it sweeping europe will come to america i think when it comes to america it'll take the form of mass street what they call strategic default on all the under ro water mortgages that were fraudulent lee sold to americans and they still find themselves in the real estate market like in miami for example and other locations of it new lows that even despite all of the pumping up by the by the fed in the stimulus by obama the real estate market is still crashing and these people are underwater and as a revolt the civil unrest that we'll see in the u.s. will not take the form necessarily of people on the street i think americans are a bit savvier than this i think what they'll do is they'll stage a multi million single day mass walk away from y

street took this performance as bravo they gave it an oscar the next headline wall street loved jamie dimon speech yesterday the response is go jamie yes this is from business insider and one of them. the writer here says just yesterday we got a text for a friend at a big bank who wrote the obama administration continues to beat up on the banks not a great way to get more lending to help with job growth all of the new capital requirements and regulatory uncertainty has everyone grasping onto their cash cash equivalents such a short dated treasuries capital requirements of course being code for cocaine requirements as we reported on the show many times and you also have a situation where it's basically abbott and costello between jamie diamond and ben bernanke you remember the famous who's on first routine between abbott and costello where it's like oh i know he's playing this game which and he says who's on first and he says i don't know who's on first because though what's on second i don't know who's a second who's up i've totally mangled their routine you can look it up on you tube but i

that would be worse than two thousand and eight because there's been more debt more debt remember jamie dimon to ben bernanke he was saying we can't raise capital requirements because we need to introduce more debt even more debt we have we are plenty fine now we're so stable but jim rogers is saying he's he sees something coming to work than two thousand and eight and he's buying silver he's buying silver he's buying silver he says five times and rice to protect himself and when he's here asked in in c. and b. c. how to fix it what should they do they should cut spending when they're draconian matter who should cut taxes and they should cut spending to the bone we cut troops in the hundred fifty countries around the world are not doing this in the good they're making in. that's costing us a fortune there are many many other things that we're wasting money on and that should be stopped. long jim silver laying it all up he also says in that interview states are worth any short one big american financial numbered zero heads are speculating that it's probably j.p. morgan i would concur the easie

federal reserve system it's the private bankers it's jamie dimon a white blankfein who are the fed and they've created this financialization as a way to occupy our economies and the people in our revolving it's a global insurrection against ben bernanke you articulation all right since you were thank so much for being on the cause report thank you max thank you i was more coming why stay right there. twenty years ago largest country. this. began a journey. where you take. well you. really believe just signed stems. from. the future and. welcome back to the kaiser report on max keiser time now to go to new york and talk with william a graph good men she's the author of this gripping new book siloam if you haven't got your copy yet i insist that you get it. this is all about the run against a hijacked the world's oil market and a welcome because a report hi how are you doing today mac. all right so who are the renegades how they hijack the world's oil world's biggest oil market these are the boulders in the original oil market back in one thousand nine hundred three reagan left it well p

at the moment in order that greece doesn't default on their debt so that american bankers like jamie dimon lloyd blankfein don't have to pay out on these insurance products that they haven't any reserves worked but it's a cause and effect problem and this is propaganda as we see in this t.v. commercial just like the problems of greece ultimately come from bernanke he's a loose monetary policies and corrupt monetary policies the problems of china as america perceives them that they are quote unquote currency manipulators is also the result of america's loose monetary policies america as the world reserve currency and there's huge benefits on having the world reserve currency if your economy starts to collapse because you could be used for privileges as for having a world reserve currency i don't blame people like john in greece for your sins but let's look at what the state of the united states is that looks like a land war already scrapyards of the new pawnshops so remember everybody was saying oh gold and silver are going to sink because everybody's going to the pawn shop and cashing and

federal reserve system it's the private bankers it's jamie dimon a white blankfein who are the fed and they've created this financialization as a way to occupy our economies and the people in the revolving it's a global insurrection against ben bernanke the occupation all right since you were thank so much for bringing because a report thank you max don't go away much more coming away so stay right there. we've gone to. the biggest issues did the human voice face to face with the news makers. welcome back to the kaiser report on max keiser time now to go to new york and talk with william a graph goodman she's the author of this gripping new blog this siloam if you haven't got your copy yet i insist that you get it. it's all about the run against a hijacked the world oil market and lay a welcome because a report hi how are you doing today max all right so who are the renegades how they hijacked the world's oil world's biggest oil market these were the boulders of the original oil market back in one nine hundred eighty three reagan left it well price controls and when that happened some

michael bloomberg of bloomberg or of jamie dimon a g.p. morgan these are the new honda the new honda remember the hunt back in the seventy's a totally screwed up in a country where the troika is the new one would be other thing about this oil dump on to the markets is that obama now gets to claim that he's tough on speculators all those speculators driving up the cost of oil and gasoline well of course only speculators only these top guys these hedge funds in the world traders make money on the downside right contango why the release of oil from the s.p.r. is a doomed idea by dumping sixty million barrels of oil on the market or saying they're going to announcing a head of time the price of oil has fallen. today in the market today not in the future now traders are able to buy this oil cheap from the u.s. government from the japanese government from the south korean government france and germany they're able to buy it today at this ninety dollars price of her w t i a hundred and ten dollars price for brant they will to buy that and sell it

days three days no money in the bank i can't make them and then you see huge panic on wall street jamie dimon from j.p. morgan and lloyd blankfein from goldman sachs start calling the painter and mcconnell and saying you guys get your troops out there and you fix this and they're going to do it so it's going to be one of the other will see it see what they're going to feel like it's going to be the second object or the latter of the two because we know how many of the people out there in the republican. eddie actually want to us to default on our debt i feel like this is just something that's being sad to pretend like they're really catering to some things voters but really it's only a few of the tea partiers out there all the republicans who are in bed with business are going to listen to those calls from wall street i think that's what they're going to bury wall street i mean that's the thing you know it's going to be a bad story if we're going to fault i mean i've been through it's a few times people are saying it became for clear i'm not advocating the fall but the point is the frontline

. >> a couple of weeks ago, the jpmorgan ceo jamie dimon asked about the forthcoming regulatory environment. the people have said, overregulation, less ability to compete, he said. is there any concern to that criticism? >> going back to capitol, i think we have done a fair analysis on this already. the overwhelming weight on literature is something that the german and i have been calling for. -- the chairmen and i have been calling for. i think some of this extends more from the interplay of the derivatives regulation, the volcker rule. and perhaps under the auspices of the oversight council we could give some announcements of an inner relationship of these rules. to make sure that the rules, working together, will achieve the outcome that is intended. by itself, analysis is good, but i would not want that to be the reason as not -- the reason for not engaging. >> if you get the implementation of efforts of dodd-frank, where do you see its potential pitfalls for its potential the real man? >> that is a very good question. -- for its potential derailment? >> that is a progression. i hope ve

it appears to be official policy because it is mentioned by jamie dimon and tim geithner. prodi the best analogy is in the u.s. beer from industry where we have boeing which is backed by the export import bank and the eu has airbus which is also backed by substance. why do we pick as our champion the worst run and least well- capitalized companies perhaps in the economy. this would-be like sending in the bantamweights to the heavyweight championship fight. there is hardly any questioning. a related question is why are the biggest institutions the worst run? any thoughts on this? it seems it is taken for granted that it is in our interest to make sure we are out there are losing the most money. >> you referred to financial institutions but in general. we have five instead of four. another layer of aspirational too big to fail banks. >> would that be your narrative? >> i think, you know. there are a number of institutions in the u.s. who might to make a judgment? somehow they are run. my sense as an outsider is some are better run than others. there is a certain diversity th

yesterday, i did not know how many people were watching, but jamie dimon questioned ben bernanke, andick off a list of all of the things that are gone now because of regulation, and there is no question that deregulation played a role, at one point in time regulation was too strong. it started during the ford administration. it. on an accelerated through the carter administration, -- it went on for the carter administration, and then we side pickup and get a boost in the clinton years. really, everybody has blood on their hands. we voted in people that did this. there was some promise that we thought we were going in the right direction sometimes, and clearly, the pendulum swing too far. one of the hardest hit issues for the federal reserve is, -- the hardest issues for the federal reserve is they had to deal with haiti. they did not regulate insurance companies -- aig. they did not regulate insurance companies. they were not supposed to be doing that. much of the shadow banking system, countrywide, all of those companies, they disappear off of the face of the earth. as they come back

have spoken in clearer terms, from the private sector, the morgan choice, a man by the name of jamie dimon says that a default would be cat strove iefnlg he went on to say that raising the debt limit is -- quote -- "our moral obligation." so what does that mean? it means the world should know that the united states is good for its money, period. that's what jamie diamond said and i agree. he's not the only one saying this. business leaders have said it. economists have said it. banks have said it. and republican advisors to presidents reagan, the first george bush -- they've said it, and perhaps more importantly, credit rating agencies have said t credit rating agencies, standard & poor's and moody's, have said that if the united states misses even one payment, the nation will immediately lose its high credit rating, interest payments would increase, and for every 1% increase in the interest rates, it would cost our country $1.3 trillion. not billion, not million, trillion. that's one more reason why defaulting on our debt to make a point about fiscal responsibility makes so little sense.

champion model has been invoked and appears to be official policy because it's been mentioned by both jamie dimonand tim geithner. so, and probably the best analogy is in in the u.s. the airframe industry where we have boeing which is backed by the export/import bank and the e.u. has airbus which is also backed by subsidies. the question is, why do we pick as our champion probably the worst-run and least well capitalized companies, perhaps, in the whole economy? this would be like sending in the bantamweights to the heavy weight championship fight. and yet this, there's hardly any questioning of it. a related question is why are, why are our biggest institutions the worst run? that's a corollary question. any thoughts on this? because it seem to be taken for granted that it's in our interest to make sure that we're out there losing the most money. >> you're referring to financial institutions or just in general? >> financial institutions. banks. >> oh, okay. >> too big to fail banks of which we now have five instead of four. >> right. >> plus another layer of aspirational too big to fail banks. >

yesterday, i did not know how many people were watching, but jamie dimon questioned ben bernanke, and kick off a list of all of the things that are gone now because of regulation, and there is no question that deregulation played a role, at one point in time regulation was too strong. it started during the ford administration. it. on an accelerated through the carter administration, -- it went on for the carter administration, and then we side pickup and get a boost in the clinton years. >> all of today's "washington journal" is available at c- span.org. the ticket to the white house for the briefing with jay carney. >> are like to begin with a readout of the video teleconference with president karzai of afghanistan. president obama spoke with president karzai this morning for approximately one hour, discussing a number of topics, see including the impact of the death of osama bin laden on the fight against terrorism and regional dynamics, shared commitment to afghan reconciliation, hindering u.s.- afghan strategic partnerships, and security. the president expressed sorrow over tragic

. >> jimmy diamond should agree with you, if he wants -- jamie dimon should agree with you on this. wholesome american business. >> i don't know about wholesome. i do know there are certain acts in this commercial banks can do well and should do well and i think the market is there is to define at that point. i don't want and using the safety net to build their reserve that the date then trade on one aspect of basis to make their earnings. >> now that we have the volcker role we should be getting it to the that. >> we are already gearing towards it but it is already being gamed to death. we will see. >> i am a reporter with "huffington post." my question is -- when you talk to policy-makers in washington about the market concentration, you point to the top four or six. they say, well, it is not like it is in the u.k. or in switzerland. it is not that concentrated. double the size of the economy. i am curious to know why the current level of the new -- in the u.s. is dangerous. what is the counter of the argument that it is not as bad? >> not as bad is not my standard. we have had --

jamie dimon asked ben bernanke whether the regulators understood the full impact of the forthcoming regulatory criticism from some quarters, that people say well, overregulation making us less able to compete. is there any validity to that concern, that criticism? >> well, i think going back to capital, i think we have done a lot of cost-benefit analysis on this already. and the overwhelming weight of the literature -- it's actually in a moderate range of what studies would justify based on a cost-benefit analysis concerning the payoffs, in terms of system stability and reducing the severity of the next crises with any incremental impact in lending costs. so i think they've done a very good job. you think some of this extends more from the interplay of the drivetous regulation. i think on that score, that is going to be more of a phased in approach and that perhaps with the we could do some analysis we could do the analysis of some of these rules. i think understanding the relationships to make sure the rules working together will achieve the intended outcomes make some sense. so i think by it