tv [untitled] July 5, 2011 11:30am-12:00pm EDT
really you believe in science and technology from. the future cover. you with r.t. live from moscow a quick summary now top headlines activists grow more vocal in their opposition to a covert us military site in northern england spied by the reagan era star wars project this saying that they have a right to know what's going on that. the shutters are in denmark as the country passes strict new laws on border control switch already cause anger from its european neighbors who say that it might violate agreements on visa free travel.
and libyan officials say they intercepted two ships carrying a belgian a major weapons for and he could have the rebels in violation of a u.n. embargo on arms trafficking to the war torn country. part of my colleague bill dawdle have more on those of those top stories in about half an hour's time here on r.t. but next to max and stacy look at whether the greek economic shock wave is causing a wobble in washington thanks for watching. this is there a part time to reveal to year the intimate secrets of global finance it's not about stuff but like the acropolis being sold it's about securitizing the acropolis so it can be traded. all the debt held by the bankers will be paid
off from trading commissions but before you can do that you have to turn everything into a security i will explain the whole thing anyway stacie ever what's happening well max says so over the past week as greece has been. have austerity measures forced on the greeks we have also seen this headline max debt leaving greece finds no buyers and fire sale of national assets so apparently representatives of the greek government while all this protests were going on in the streets of athens they were in london at claridge's hotel looking to sell off fifty billion euros worth of income producing assets up for sale were thirty nine airports eight hundred fifty ports railways motorways sewage works a couple of energy companies banks defense groups thousands of acres of land for development casinos increases national lottery currently they found no buyers no they won't find any buyers this is the experience of the american indian had with
the us army the us army came of crawling across the western plains of america and they gave the american indians exactly nothing for the land and the concept of actually owning the land was completely alien to the indians the idea of owning the grand canyon for example was a concept that was completely alien to their culture similarly in greece the idea of securitizing in trading the acropolis is an alien concept they don't understand it they're being slaughtered by this army of banks toure's who are going to securitize everything and all the commissions from trading all of this of course we don't all fell and she in the in the shadow banking system in the dark pools greeks will get nothing they'll get absolutely nothing. but the other thing about this is remember you're dealing with con man banks here so are these private equity
alleged private equity dealers who met with greek government officials are they just straw man and some sort of con are they acting as like market makers you know how you often see this in america is that the the market makers don't appear for especially in the commodities market in gold or silver and they let the price collapse in order to then scoop it up at a very good deal for them and then sell it back at a higher price i mean to use my indian metaphor there the sioux indian and other tribes are still waiting for the u.s. to make good on various treaties that were signed three hundred years ago two hundred years ago one hundred years ago that's not worth anything the paper that these traders are written on if you think you're going to get anything in exchange for your assets from the banks that are rolling across the federal plantations of greece you've got another government the frenchies plantations i've never seen whether it's a grown up plantation right there's not
a race better one of the things that was pointed out by one of these private equity bankers is he said there was a lack of transparency again this is caused by goldman sachs has hidden all of the everything assets debts everything off balance you nobody knows there is no price discovery possible anymore thanks to goldman sachs and j.p. morgan but there will be once they securitize everything right now the acropolis has a value on the greek books of zero zero but now when goldman sachs comes in and they take control of the acropolis and they create a security based on the acropolis didn't acropolis back securitization program it'll have a value on the global markets but it'll be traded off balance sheet in the dark of change greece will have any access to it but the international bankers will be throwing it back and forth and they'll be borrowing against it that's the key thing all these so-called austerity measures are a way for go. sucks to securitize great assets to lay another two three four
hundred billion in debt on top of the five hundred billion and that so you've said many times that after greece and the rest of europe america will come become the next victim of the i.m.f. so now taunting the us the i.m.f. a solid in the same exact plan they enacted against europe economic crisis in greece could reach the united states i.m.f. warrants so first they're saying the money markets banks may spread the contagion according to officials so if something happens to greece they're saying that it could spread to the u.s. i.e. and u.s. taxpayer give us all your money for the i'm off to bail out the greek creditors oh yeah it definitely coming into the u.s. because some countries go was brazil kicked the i.m.f. out the economy was booming yeah the same situation on egypt they're saying no i.m.f. loans no world bank we don't want the terrorists we don't want the financial terrorists the market fundamentalists the banker jihadi on wall street we don't want them
stink and suicide bankers like lloyd blankfein blow themselves up here in egypt but in america sense they are basically idol worshippers of pop idol worshippers of blois blankfein as merry band of derivatives fraudulent counterfeiters speaking of pop idol there is the pop idolisation going on of j.p. morgan which is the biggest of the banks her occupiers them in the world and they have this former beauty queen who's now a j.p. morgan executive and i see all of the financial blogs posting photos of her and it's actually in the u.k. press as well this is hot babe who is a banker so that's the sort of thing they're trying to create the sort of war shipping of the lot lindsay lohan sort of things of the people of the world because look a lot of these celebrities who are worshiped via twitter and rupert murdoch's tabloids . they get away with all sorts of stuff because people worship them so when if j.p.
morgan can start creating some lindsay lohan type bankers who people will just they'll forgive all how about lloyd blankfein the male unicorn with the programming antler down seasons well you know the i.m.f. never has just a one pronged attack speaking of the unicorn they go multi-pronged i.m.f. urges us to raise its borrowing limit or risk defaulting on debt warns that u.s. debt burden is unsustainable and long term so i guess for if you know the u.s. needs to raise this debt ceiling or else it technically defaults in the i.m.f. and saying that you have to raise the debt ceiling fight your debt is unsustainable . because the i.m.f. international monetary fund world bank you know nations they're running the show now barack obama is just basically dancing to the i.m.f. tuning well as we see all governments have to remember. in greece he was
elected on a very specific platform of tossing these guys out within days he was you know swapping the credit default swaps that were worth tens of billions of dollars he's giving them to buddies and people in secret bankers who know you know speaking of the swap that you just mentioned see his cronies rate the country for twenty billion based on that insider deal court of the false while put the postal thing i go contacted from a journalist at harper's for the website in america i gave him the facts of the story and then publish it harper's came back to the writer and said this story is too one sided against the u.s. . and this is just a straight up and down depiction of the facts so america you need to open your mind a little bit in the us you want to be on the are you going to reservation aren't you have some said many times that i am half as after the us next s. and p.
will slash america from aaa to d. if the treasury misses a payment so this goes exactly within a few minutes of the i.m.f. saying the us better raise the debt ceiling or they're in trouble well the s. and p. one of the rating agencies who work hand in hand with these international banks the managing director john chambers spoke to reuters and he said quote if the u.s. government misses a payment it goes to d. he says this is known as the selective default that paper that is maturing on august fourth will go to di di di di di that's lower than triple c. and that's what they say greece is worth triple saying well why doesn't the greek government come out with a ratings report saying america's debts were the did he therefore sell your american debt you need a place to put the cash but a greek debt and we'll give you a play all the options on the acropolis ourselves you don't need a good plan for the company until the acropolis near god or something. but it's on chambers also noted a default on u.s. treasuries a benchmark against which all other debt is measured would dwarf any worries about
u.s. credit ratings as global markets would crumble they're pulling out this all the canard oh the markets will crumble the world as we know it will and oh it's all over it give us all your money yeah well of course as part of that suit it they've learned to put a gun to the head of folks and say it's a hijacking like hank paulson i mean times can this work is like over and over and over they need to hire somebody from hollywood to get a different script writer because this is boring you know look at every single poster for every single movie that comes out and every single scene or in every single country it's a guy holding a gun it never stops elling people fear always trumps faith that's. the way of the world if you can scare somebody into giving you their money it's a lot easier than convincing somebody to invest our money speaking of hollywood though america was americans were sold on these wars and across the middle east as you know some big video games sort of film like shock and awe well cost of war iraq
afghan wars and your four trillion dollars study so again the cost keep on going out americans don't apparently understand how much they're paying for it those same americans who are sitting there debating saying all the i.m.f. is going to be bailing out these greeks who retire at fifty three years old well what about when we have to bail out the americans who can't stop wars and bombing people all over the world is that any better like i'd rather pay some guide or retire at fifty three than to go murder a million people somewhere else whom it damage american business stand thus there isn't the energy and food prices are going up so what do you do about these people other than put them on reservations and then finally tying this all back to bankers and that afghan war american choice of plundering their future income afghan banker i have evidence of death plot this is abdul qadeer fit rat the former governor of the afghan central bank and he's fled afghanistan is now in washington hiding out
and he's saying that there's a death plot against him and that's why he had to flee but listen to this rats comments come just hours after afghanistan's deputy attorney general said the rat and other officials at the central bank faced prosecution for not acting on warnings about widespread corruption at kabul bank so the corrupt central banker is safe haven in washington d.c. under bernanke is umbrello. banking criminal protection program. and meanwhile back in full the american people are killing folks willy nilly well yes you could say that ben bernanke in the us is to financial terrorists what the. taliban was two islamic terrorists well said stacy ever thanks for being on the guy's a report. back with much more so stick right there. twenty
a professor yes vera fake yes janice welcome to the kaiser report thank you for having me. more austerity measures for a green from the news footage it appears the population doesn't like the plan but what about economists like yourself do you like the plan i think this is one of those occasions where the crowds collectively shows more rationality is. the great and the good of the european union and the police makers and all the analysts who are supporting what in my estimation is a highly irrational policy for dealing with this is. well you've got two basic approaches to the various crises around the world there's the austerity and tax approach and then there's the let's print money company by bailouts and work programs that we've seen in the us. neither approach seems to work does it well if we're not but in the united states and it works in europe even though the united
states is certainly not article words imagine what the situation would have been with the quantitative easing up and thank you today europe falls somewhere in between the two. interviews the forwards and the reason is that the use own has a particularly nasty problem with the very design of france and protection that neither britain noons of the united states. right exactly there's an interesting. historical precedent here with the introduction of the air out of the greece can devalue against other currencies because lot end of the year out and it's basically going head to head economically speaking with germany i see germany as just announced fantastic results with their economy in part because they benefit from the lower euro. because they're tied to greece so there are many is getting
a benefit from their troubles and grace in ways that a lot of people are talking about why why not why shouldn't germany just leave the euro so that they then are competing with china and america on a more powerful or super basis instead of dragging greece into the gutter as germany is doing because of germany believes the year with a little miracle that you can scribe is going to go up in a puff of smoke within twenty four hours if they were to be constituted which market. small group by you by the sixty hundred percent and it would lose neutral he's not gods and the only thing that keeps germany going alone screaming you have a moment is the chinese market i want to just say pursue a high level for a second here and pick your brain as an economist because you mentioned comparing the u.s. and europe and why quantitative easing. perhaps was a better way to approach the crisis however in the u.s. it seems like all they did was buy some time they bought maybe two or two and
a half years worth of time and now s. and p. talking about downgrading us the debt to d. which would make it even less attractive then the current rating on greek debt of triple c. it does the same as either approach really makes any sense because what we're talking about here is more of a systemic problem that banks have systemically corrupted the system in ways where they make all the money and everyone else suffers all the losses is that a fair characterization absolutely. i have. ruffled a few feathers bay saying that just like in one thousand nine hundred one socialism . could just be in two thousand and eight and we saw the end of cataclysmic it seems to be sixteen but had to seriously believe that this is weeks any what happened we don't really want it happen it's now and we wonder jima try going bankrupt or krissy it's not the same as bankruptcy it's not ruled by banks it's
through by bankrupt banks the greater the failure. in two thousand and eight and in europe today have to get into it's power to set the agenda it's a very strange regime under which defies the traditional left versus right arguments of free markets versus. collective action or sense of granting now we have a situation where the more you fail to the more spectacular your inability to generate profits then more power you have over those who do all right well it's based on that scenario the profits that were being made by the so-called too big to fail banks for years to deregulate or to dismantle free market capitalism and they instituted a command a control finance all autocracy in its place so as to failure once again. command and control that we saw in one nine hundred ninety one as you describe it it's a repeat of ninety nine he want to say it's
a failure of the polar bureau of the federal reserve bank and other central bankers but look at greece for a second they of course through a seven year period of history experienced military dictatorship odgers a hunk it is a really much difference between the junta and the troika. it's funny you should ask me this yesterday i was talking to you know. who had fought as a participant during their existence against the nazis in the night and forwards and he stunned me with a question he said wrote imagine the germans had one then why would it be different now so you jerks the position that pete drew was not with the who was with and the period of completion under the nazis he said and then to our eyes i asked him to continue along that line of thinking and he said look if the third reich could do great things we would have a commissioner for whom running things in greece i don't want to go as far as he
was going but this is came from cars and i have to say that i was stuck for words for at least ten seconds before i could conjure up enough strength to suggest that perhaps life would have been worse. all right you mentioned nazi occupation during all the arts part of that story of course was the nazis taking much of greece's gold gold in greece now amounts to one hundred eleven tons of galt i have asked this question to a few people you're an economist you are just you know the history and the economics of greece well what i do have an estimate about how much call germany cut from grace during that occupation freight of world war two it's more than just a question of gold you have to remember that during the occupation the german authorities extract a massively. new birth it comes from the coffers of the greek banking system
i'll go to my banking system and if you combine the gold with the loan you will come to three go which in today's prices is more than five hundred sixty billion years. of course the question is what it's all mean is these legally enforceable now ok well let me let me just interject there for a second because you're saying ok the agreements between that were made have been abrogated they don't exist anymore but here you have a george pappa dress government signing off on the memorandum what the i.m.f. a foreign banking institution giving them rights above and beyond the greek constitution they are going to take critics call that greece's golf as part of the debts that they had a post on grace is the same tale as you just described to me that the nazis did they think they loaded greece of the budget debt then they they they raped greece now the i.m.f. is loaded with a lot a lot of debt and they're going to economically rate greece they're going to take the gold they're going to securitize and monetize and trade all the security so how
is this different and why should they were why why not why respect this memorandum this memorandum was was cooked up by papyrus and and under that we can only describe it as treasonous i give you i mean i would never expect and went on to before i had the choice of not inspecting and it is quite one thing to say i did not respect i do not accept the debts that you took on me it's quite another to good for germany and you can go into state united for this for that you need right my dear and i don't think that there is in sense in having these this conversation on this on his mother but let me let me let me try to increase my view regarding the ins position and the european union's position he said he predicts i wish that i could agree with you that this is a conspiracy to loot greece it is not and i said. because everywhere and specific mean that it will be some ryan and some reasons and some logic behind what the europeans and the i.m.f.
are doing in greece you see i don't believe there is and you got it and they do believe there is a plan and i don't think there is any overarching objective i think what is happening is this the use system was hit particularly hard by the day financial crisis and the great grudge of two thousand and eight it started under our billing our european leaders are at a loss to know what to what to do with it so they they do the wrong don't think they know and that is to apply sticking tape in order to keep together. and then to face and i can picture ridge is this integrating this ticket is very expensive it comes in the form of huge loans the loans come to greece they have to throw some bones to their own parliaments in berlin for instance and actually explain why these loans are going to increase and these are groups come in the form of public acid sales and trevor they say sion then they're doing it because they want to get something out of greece and they're doing it in a state of panic and in
a way that ensures minimum resistance to these huge loans to greece in the berlin parliament and why these huge loans to be using simply because they pay much. moment in the french banks which we need to be explosion of this fungus that situation and then do a complete collapse of the euro and then that because of years you know the dutch market will introduce a continued recession in germany now are great politicians run london recently trying to sell great assets far knock down prices how does selling off income producing assets or start a large army canonic by belly of grace it doesn't at all i mean don't you just give you a very bad example take the state lottery the national lot of greece it produces four hundred million euros of evidence a year for the good state and they're now going to try to sell for nine hundred million now this is one of the creaming of the navy. since the so why are they doing it well firstly because they're being told to do it and then it was of course
because why are they being total total dick because mrs merkel wants to throw some bones to have members of parliament saying look we've got x. our reading shooting themself in themselves in the foot they can be killing them let's extend those loans but in reality it was mrs merkel is doing she's misleading her parliament in precisely the same way that mrs bush on that it was misleading his parliament because this money is not ok to use this money for the french and the german banks and a fool for saving the banking system not saving but preventing another collapse of the banking system all right well finally of course we're talking here you're actually sitting on a great island how much do you want for it how much do you want for your children. yes well that sounds very impassioned but as we know it is more also have no place than today's global economy morals don't trade out any exchange there for morals down exist so it's just a start everyone's got their price and surveys globalized economy so out there is
it that when women are a little less passionate maybe next week but let me answer this question in a dispassionate way i was talking to investors from switzerland and germany who really wanted to get their hands on very gas and they said to me off to their guns on the last few days that they will withdraw from the for from the competition to get these outfits and they will withdraw because they can sense the passion that you mentioned and it's not want to be involved in assets whose legitimacy the property rights and the cost of all of them would be questioned by a basic question of people who will not allow our islands and profit and coastlines to be traded in exchange of want you know change of bones that will be ahead of forming a default and wearing the other possibility is that they're seeking a cheaper price all right that's going to do it yes vera fake yes thanks so much for being on the kaiser report. thank you and that's going to do it for this edition of the kaiser report with me max geyser and stacy herbert and i thank my