loans and not spain but greece and portugal do and they are required to only go to the i.m.f. for any further loans they're not allowed to raise money on their own unless the i.m.f. and the e.c.b. say do it this way required per some deals that were written and signed off by governments like in greece. is a treasonous it's a treasonous let's recall and the other thing about spain of course is by their bonds are being attacked by their sovereign debt is being attacked as people tell you well this is capitalism because basically the bondholders are assuming that even though the government has low debt just like ireland did before the crisis they're assuming that the government will be forced to take on the private debts of the banks i.e. the taxpayer will be forced to eat these bad debts of the spanish banks and therefore crumble their own economy it's not capital of things that has nothing to do with capitalism capitalism in first competition if you're not allowed to compete because the state is orchestrating takeovers from foreign banks of your assets that's called an occupati

greece goes on sale to scrape together some cash because a report next. imax kaiser this is the kaiser report i believe was the first one in the world to point out that there's a lot going on in europe that you need to focus happening beneath the surface. germany four point. let's get some more details from station yes max we are seeing the introduction of neo feudalism into europe as we've said all along sells sell sell everything must go in great fire sale europe's most indebted countries and britain have put prized assets up for grabs to bolster their credit worthiness so what exactly is on offer max tell us a everything. well we know in greece we've already listed that last episode ireland has the national airline ports power stations energy suppliers transport systems sporting assets and even the irish national stud well thank you very much but i'm not for snow. whatever that is a soon that has something to do with horses it's all about horse eamonn it k. and then spain is selling thirty percent of its state lottery now this is the biggest lottery in

of the bunch of debt then they they they raped greece now the i.m.f. is loaded with of all a lot of debt and they're going to economically rape greece they're going to take the gold they're going to securitize and monetize and trade all the securities so how is this different and why should they were why why not why respect this memorandum this memorandum as was cooked up by pap address and and under we could only describe it as treasonous i do you know i would never expect them and went on to be fine i had the choice of not respecting and it is quite one thing to say i do not to respect i do not accept the debts that you are imposed upon me it's quite another to go to germany and to go into state in one hundred forty split that you need quite my beyond and i don't think that there is any sense in having this this conversation on this on this matter but let me let me let me try to imprint my view regarding the i.m.f. specifically and the european union's position reserve we greeks i wish that i could agree with you that this is a conspiracy by which to

of the budget debt then they they think they raped greece now the i.m.f. is loaded with a lot a lot of debt and they're going to economically rape greece they're going to take the gold they're going to securitize a lot of ties and trade all the security so how is this different and why should they were why why not why respect this memorandum this memorandum as was cooked up by papyrus and and under that we can only describe it as treasonous i give you you know what i would never respect and went on to before i had the choice of not expecting and it is quite one thing to say i did not respect i do not accept. those that one needs quite another to go to germany and to go into staking one for these for that you need quite my beyond. i think it's a good reason since in every business conversation on this on this matter but let me let me try to imprint my view regarding the i and its position and the european union's position is everybody's i wish that i could agree with you to pieces a conspiracy to loot greece it is not and i said. because if it where conspir

banks financial casinos have insured irish debt same thing with greece is the u.s. treasury that comes in and says wait a minute our financial system has turned into a i j we've insured the greek debt and we can't afford to take a loss so you're europeans have to take a loss you have to impoverish your later so that our financial well our well straight casino capitalist firms like goldman sachs can make a keling and they can't pay their people one hundred million dollars a year in salary if you don't impoverished your labor we're making money off you and that's the financial system that's what we call stability so you may think it's our risk but it's not our risk if we're telling you what to do isn't what you refer to risk isn't a risk if you let the u.s. treasury act is the battering ram for the wall street firms that insure the rest and say you think there's a risk we're going to make sure that all the rescues on that debt are and the debtor can't pay the creditors don't lowes the insurance companies don't close because we're going to take it out of greece out tha

greece over whether people are going to actually democratic. acquiesce in a surrender and this means that when there is an election if there ever is reached and legally say look this was imposed upon us we didn't vote it's not democratic it's not binding and they can take back whatever is being given because certainly there will be another the fault certainly the way to make sure there is it the fault has to follow the e.u. plan and the i.m.f. plan and impoverished the economy because impoverished economy makes it less able to pay not more able this is the one thing that the world has learned from the i.m.f. austerity program since the one nine hundred sixty s. and one nine hundred seventy s. and the 1980's ok so when you hear people debating this they bring up by slant they also bring up argentina they say can't make the comparison with iceland or argentina in iceland's case they say well you know as the crow now wasn't part of the euro greece is bound by the euro so how do you come back and talk about those concerns or those folks who say you

of the budget that then they they take they rate greece now the i.m.f. is loaded with about a lot of debt and they're going to economically rape 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 is was cooked up by papyrus and and under the we can only describe it as treasonous i give you know i would never respect him but on the right had the choice of not respecting and it is quite one thing to say i do not respect i cannot accept the debts that you have imposed upon me it's quite another to go to germany and to go a little mistake in writing for this book that you need quite might be home and i don't think he's incense and he dismissed this conversation on this on this matter but let me let me try to imprint my view regarding the ins position and the european union's position is that the greeks i wish that i would agree with you that this is a conspiracy to lupe's greeks and it is not and i s

explain the whole thing anyway stacie ever what's happening well my access so over the past week as greece has been and 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 and greece's national lottery apparently they found no buyers no they won't find any buyers this is the experience that the american indian had with the us army the us army came with 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

to greece and are holding greek buns. frank who knows what value we don't know how the german banks are bell uing the greek bonds under a balance sheet right now a chairman or french or other european bank can buy a greek government bond say fifty percent. pledge this to the european central bank and get full euro's a hundred fold value on the dollar and get free money by speculating we don't know whether the german banks or the french banks are carrying this greek debt market value or a nominal face value so germany is itself is being sacrificed. to the banks and i don't think you can say that the interest of the banks of the one percent is the interest of germany and last year's redefining germany and redefining europe as a kind of neo feudal oligarchy exciting run by the back so that's why angela merkel herself is losing electoral support in germany the whole political spectrum in europe is being. thrown into disarray by the fact the popular words left and right mean when you have the whole issue basically one of finan

the headlines up next while you bailout cash is to flow again to greece of thirteen bankruptcy in return for its to austerity cuts the shock waves from the country's huge economic problems could yet reach the u.s. find out why and because the report next. or this is there as a report time to reveal to you the intimate secret of global finance it's not about stuff 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 oh we'll explain the whole thing anyway stacie ever what's happening well max yes so over the past week as greece has been and have austerity measures forced on the greeks we have also seen this headline max debt leading 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 ass

of the budget debt then they think they raped greece now the i.m.f. is loaded with adult a lot of debt and they're going to economically rape christer go take the gold they're going to securitize a lot of ties and trade all the security so how is this different and why should they were why why not why respect this memorandum this memorandum is was cooked up by perpetrators and under the we could only describe it as treasonous i do you know i would never expect and i'm going to be fine i had the choice of not respecting and it is quite one thing to say i did not respect i do not accept that you imposed on me it's quite another to go to germany and to go to stay here in london for this for that you need right my beyond. good reason since in having this conversation on this on this matter but let me let me let me try to influence my view regarding the i am its position and the european union's position recently critics i wish that i could agree with you that this is a conspiracy to loot greece it is not and i said. because ago where conspiracy can mean t

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 raped a country for twenty billion based on that insider deal credit default swap with the postal bank i go to contact it from a journalist at harper's for their website in america i gave them the facts of the story and they didn't 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 be on the reservation aren't we said many times the i.m.f. is 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 this debt ceiling or they're in trouble well

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 sa

is the nature of the financial attack on greece greece similar to what happened in argentina in two thousand i want two thousand and two well sadly yes because we are seeing almost a copy of exactly what happened in argentina the major difference being that what happened in argentina in two thousand and one two thousand and two could be. just limited to only affecting origin tina so he just let us foreign crash in argentina as g.d.p. fell forty percent in just one year and fifty percent of the population for below the poverty line whilst in greece it is suited to the euro who that they cannot take the liberty of allowing greece to fall just like that otherwise they would it's the difference between having your own currency and having somebody else's currency right so in the case of grace or ireland or even looks like italy and looks like spain i'll be sucked into this vortex of deceit the banks the myth the major global banks international banks they get the local governments like papyrus to commit fraud on behalf of the banks to lower the economies up with hundreds of billions of d

greece pose a couple hundred billion euros but it's non-recourse i.e. they could just default and walk away and this sounds like to help but remember timothy geithner and obama offered us mortgage holders who held non-recourse home mortgage loans that they could at pay and then they could just send the keys in a lock away and they offered that modification program well what it did is it changed it to a recourse program and they could pursue you for the rest of your life and this is what we see happening in europe again they've created the problem is they who created the problem and they're forcing more debt onto you to make it even worse than what if the people finally woke up in the anti-psychotic medicine wore off and they realize that they're being held hostage by a bunch of corrupt bankers and that all they need to do is to default and they'll be suffering well they have one of the anti-psychotic medication to make people so much is is debt is cheap debt so there's so much they think everything's ok in the financial system plus of the e.c.b. with al

so tightly into the euro that they cannot take the liberty of allowing greece to fall just like that otherwise they would and it's the difference between having your own currency and having somebody else's turn. right so in the case of grazer ireland or even looks like italy and looks like spain i'll be sucked into this vortex of deceit the banks the myth the major global banks international banks they get the local governments like papyrus to commit fraud on behalf of the banks to lower the economies up with hundreds of billions of dollars worth of debt in the case of greece are talking now five hundred billion euros and that that was illegally parked on their balance sheet and then when they can't pay back that they take all their assets as recompense for the debts that they never incurred but you're saying the big difference of course is that in greece they're part of the euro zone so you have this contagion effect whereas in argentina it was a self-contained economy and it was a bit of a silo a fact that just happened within the confines of that economy correct exactly so yeah th

european leaders have agreed on a second financial loan for greece. private investors are contributing more than $150 billion to the deal. with more than half of -- almost half of the somalian people short of food, the u.s. has agreed to food drops. the bbc has learned that the fbi caen -- plans to contact the after jude law filing claims that his mobile phone was targeted in a visit to america. the newspaper news of the world allegedly claimed access to his voice mail. if it is true, it could include investigations in the united states. >> these allegations relate to a gossip article about him that related -- that was in the newspaper in september, 2003. and it was not send the that his voice mail was act in order for the article to be written, but at the time, he was in the united states, specifically at new york's kennedy record -- kennedy airport. that could give jurisdiction to the fbi, who are now investigating. it could potentially open the door to prosecutions under u.s. federal wiretap laws if the allegations are proved. i understand from a s

meantime greece has had its credit rating cut yet again and its meaning is now hovering just above the level that would constitute a default attempt by the government that you solve the financial crisis saw thousands take to the streets some turning to violence and a financial analyst max kaiser agrees with the protesters who feel that the latest one hundred nine billion euro bailout will only plunge the eurozone deeper into trouble. it increases the amount of debt it increases the amount of debt in the eurozone it is increased of the amount of debt in grace so this is a plan cooked up by bankers to repackage risa characterize. debt that's what they do and it crowds out the real economy so if they think that this is going to help the economy grow their way to a position of paying off this debt or paying the interest on the debt that's not going to happen because by giving bankers more dead to control the productive part of the economy you are eliminating that part of the economy's ability to pay off this debt so the banking cancer is just becoming worse in the eurozone and worse in gre

it would be good for greece it would be good for the europe would be good for the world if greece went bankrupt and rosy how to pay their bills or stop lying then you would have everybody would know it's a strong sound currency based on a strong sound economy while while i'm out and go bankrupt let's listen in our euro in america we've had stage called we're going to be here in cities go bankrupt we've had carys go bankrupt it didn't in the united states and it didn't in the u.s. start ok. i'll tell you why because of the four hundred billion dollars of debt that greece has fifty percent is held by german and french banks and those countries don't want to take a second in the financial markets it's that simple. why should why should taxpayers bail out banks since when the taxpayers have to bail out mistakes made by banks that taxpayers didn't make those mistakes when i make a mistake i can i come to you and let you bail me out next time i start losing money. well you should know u.s. government. no i absolutely agree with jim on this or in this instance why can't they allow them to go

what about greece itself? george papandreou was also on the platform to make clear he felt that europe had done a great deal to make it much more possible for him to put in place long-term reform in greece, although it has to be said the proof of that will only emerge over the coming months. the prime minister of greece. >> the greek people are a proud people. we are a proud people. we are a creative and industrious people. the only thing we are asking for is the right to make major changes in our country, profound, deep changes in our country. and we are committed to implement this program for these changes, to make our country a viable one, a just country and society, one of growth and job creation. >> the prime minister of greece once again committing publicly to great structural reforms within the greek economy, something i think many will be wary of because they have heard such things before and feel that so far greece has failed to deliver. >> how exactly does this deal help stabilize the whole eurozone?

on the climate stance on the upcoming negotiations involving greece on a national stance u.s. need to perhaps look at the short term benefit that they might get from balancing the euro out stabilizing matters and so forth but i still believe that i insist on that but there is a global power structure of those way up we're losing way of power so you don't worry about them and washington alluding might operate from those capitals that have other longer term. in mind personally i believe it has a lot to do we need to look silly. currency which will not be in the hands of any one sovereign nation now to transition to global currency and germany knows this very workers are part of the brain will require the control the minds of both the dollar and the euro so the dollars demise will come through hyperinflation once the easing one to incoming three has already hyper inflated the dollar and we know a lot about hyperinflation in argentina because we went through in one thousand nine hundred nine was the way to break up the euro when the right time comes is just breaking it up because