tavis: matt taibbi is a contributing author for "rolling stone." his latest book is called "griftopia, bubble machines, vampire squid and the long con breaking america." matt, thanks for being on the program. >> thanks for having me. tavis: let me start with the quote that was the impetus for the book. it says, "the first thing you need to know about goldman sachs is that it's everywhere, the world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money." you said that over a year ago in "rolling stone." it becomes the impetus for the actual book. i recall when that quote came out, as you will recall, there was much conversation about that quote and whether or not journalists should be writing such harsh things. take me back to the quote and what you recall about the controversy about it. >> what was funny about the quote is it almost didn't get into the magazine because the fact-checkers called me up and they were atwitter over the fact

matt taibbi wrote the current issue. the title says it all. invasion of the home snatchers.er homeowners and gate away with fraud. a lot to talk about, matt. first, let's talk about the original problem. how did this problem start in the first place? >> way back in the day when you took out a mortgage loan, you did it with a human being, and they weren't going to give you a mortgage if you were an unemp y unemployed drug addict. they weren't going to make money if you didn't have income. >> let me stop you there. that bank has all the incentive to make it a good mortgage. >> two things happened. first they invented a process called securitization where you can take a bunch of mortgages, put them in a big bucket, chop them up and make them into securities. that was the first part of the problem. the second thing is they invented these fancy derivative tools like ceos that allowed them to take the buckets and divide them up into tiers where you had aaa ratings on what were sometimes entire buckets of subprime loans. it's complicated. but the essence of it is you could take sub

. >> mark, i want to bring in matt taibbi, also author of grift opia. have been critical of the tea party movement. what's your issue with the tea party movement? are they not fiscal republicans by another name? >> they are. i'm actually sympathetic with a lot of things the tea party talks about. i think they have been manipulated by the republican party which to me is trying to make the tea party and their voters advocates of the economic policies that their campaign contributors would want, the people on wall street and the financial services industry are pushing for deregulatory policies they hope the tea party voters will support. >> interesting issue. some think the tea party manipulates the republican party and matt suggesting republicans are manipulaing the tea party. we've had the conversation. it's a weird alliance because a lot of things the tea party is concerned about with respect to spending and deficits and debts, were born by the republican party. >> absolutely. it's interesting, matt is right. somehow the per accepting is the republican

weapon of disenfranchisement pointed at the banking system hard with a silver spike through that as matt taibbi calls them the vampire squids that are struggling the global economy well of course and as he's saying is like you go in take your feet out currency cash out of the system what you're left with the still there unit of fraud which is the piece of paper it does you have no wealth with it unless they the banks determine what that wealth is the problem has been over the past ten twenty years the banks have stolen everybody's wealth using fiesta turn c. and derivatives and all those c.d.'s products invented by financial terrorists like blith masters over there j.p. morgan now it's time to reverse the process by confiscating the wealth from the banks and we do this by buying so over the more silver we buy the more wealth they lose and why a silver important because it's considered one of the poor man's real currencies but this brings me to the next headline max max scott is or by a silver coin destroy j.p. morgan so this is from zero hedge in the reporting on you appearing on the alex jones