Stacey i think youre going to say scared. Well i want to talk about corruption because as we all have seen in the past week or 2 that we went through the Looking Glass and many regards the corruption the Global Financial system Monetary System the negative rates and all that sort of stuff but when this Jeffrey Epstein of suicide situation happened it was quite remarkable that the universal opinion and me that lee at least until people started filtering themselves but immediately they were the likes of Washington Post New York Times and n. B. C. Sort of journalists on twitter scaring the population going oh my god like. This guy was murdered you know so then they all said oh its all a Conspiracy Theory but the fact is that this could happen that the corrupt people he was blackmailing perhaps well never know what truly was the whole story behind the situation of Jeffrey Epstein but because now conveniently all of the revelations will no longer happen so i want to talk about the corruption that we see all around us now since 2008 when barack obama was elected and came to the rescue of the Global Financial system in offered hope to the American People that something will change nothing has ever changed that it was never help for the people it was never help for the population it was always. Engineering bailouts for the elite for the connected for the powerful just as the suicide of Jeffrey Epstein was a bailout for a very powerful people as well here we see u. S. Credit card Interest Rates hit highest level and 25 years as a commie slows fed eases the gap between what banks are being charged to borrow money and what their charge in customers is widening once again according to the f. T. Us consumers are paying higher Interest Rates on credit card balances than they have in 25 years the average rate of interest bearing card accounts topped 17 percent in may according to the fed data the highest in the 25 years that the central bank has been making the calculations weekly data based on credit cards dot com survey of 100. 00 National Card issuers found an average rate of 17. 8 percent at the end of july another multiday decade its proof that the its not a Market Driven economy competition driven economy and stunt capitalism this is a top down dictatorship run by banks who can say that theyre going to give their friends on wall street negative Interest Rates or theyll pay them for putting deposits at the central bank. Where at the same time they wall jack the credit card rates up on people who dont have special relationships with the special bank so Interest Rates spike gapping the spread is widening and what i call Interest Rate apartheid if youre in the wrong side of the friends of Jeffrey Epstein you end up in a bantustan of extortion ery credit card rates if youre a friend of Jeffrey Epstein then you get the insider rate of negative and you get paid to lend money or to borrow money excuse me from from the bank Interest Rates are classically expected to trade in tandem so you have your base rate from the central bank your margin rate your cd rate your credit card rate and they run and they trade in a relationship with each other that has a classical relationship that you can you can bank on you can define i was amused quite dramatically if thats the right phrase by joe isnt all writing on bloomberg how negative Interest Rates are not abnormal failing to recognise this extraordinary bifurcation in the credit card rate and the fed funds rate you know thats a classic propagandist an apologist for this type of corruption and. And with all due respect hes not somebody like dr Michael Hudson whos actually an economist and historian and and who has told us that negative rates has never been seen at least since back to the bronze age when he set his studies and but here as well is in terms of propaganda a lot of the Mainstream Media will say you know that its no time to be an academic the fed needs to cut rates we need to save the people and remember that those people that you see on the cable news they are earning 10. And 1520000000. 00 they do live in new york city and their friends are fellow manhattanites and they are the elite and they only. Anybodys only going to care mostly about their friends so those are their friends the Jeffrey Epsteins are their friends and you can see all the photos of them hanging out with that sort of guy so that theyre going to bail out their friends and they might make themselves feel better about it by wearing like a pink ribbon or a Yellow Ribbon or saying its for the greater good of you people out there but in fact as we see that theres this huge gap between the fed what banks can borrow and what theyre lending and now some of it is that wealth sort of coffee and wealth transfer so that the poor schlub who cant pay off their Credit Card Debt is going to be the younger millennial sorts who are in college or university and think that because theyve been propagandized that they have to do that they have to take out 100000 dollar loan to get what will become a used more and more useless degree lets put it that way and then they have to live on credit cards in order to feed themselves while doing their studies but the Mortgage Rates have gone down so Mortgage Rates because remember what we find out is that the entire Banking System is not about lending to businesses and growing the economy and blah blah blah all that propaganda is about mortgages and and courage and speculation and greed or fools absolutely you know in 2008 the Global Economy like abstain. And like abstain it started to stink really bad. And like epstein said of performing an autopsy and telling the people exactly how the Global Economy died 2008. Global bankers simply took a lot of propaganda. And put it into the system to hide the stench. Like theyre not doing an autopsy or releasing the results on epstein in 2008 it was to save the bankers the belled out the bankers and like epstein to bail out his political friends they were simply unwilling to let the stink of a dead corpse in one case epstein and in one case the Global Economy in 2008 filter into the reality in a way that people would react you know people should react in 2008 by taking serious actions against the bankers who perpetrated a massive fraud like they did in iceland as weve been talking about iceland you know they put some in jail it was a bait and switch because in 2008 the people did want something to be done and thats why they voted for hope and change they wanted change they had some hope that things could change and justice could be done instead obama came in broughton all the ruben ice all the Robert Rubens trainees and lackeys like 10 guy Larry Summers and kept the brought those guys in the then he said actually we need to look forward not back dont look at all the crimes that have happened and here we have it like the credit card rates for ordinary americans is that heres another article from earlier in this year late last year just to point out how we coddle a certain sector theres theres justice for you know one ordinary person like would have never been offered the deal that Jeffrey Epstein had basically been given almost immunity he did some time in a palm beach jail where he just had to stay there. For the night and work their day was released on the day remember so there was something corrupt that happened between Jeffrey Epstein will never probably know and the department of justice and the Attorney Generals Offices and in florida and new york but here is the what happens with banks so the fed paid banks 30000000000. 00 on excess reserves for 2017 weve covered this before but just to remind you that their banks are borrowing from the fed for free and theyre lending to american credit card holders at the highest rate in 25 years even though Interest Rates and bond yields are at like 3000. 00 euro lows as you pointed out in the previous episode the fed pays the banks interest on their required reserves and on their excess reserves that the fed excess reserves are the biggie as a result of q. E. These excess reserves jumped from 1700000000 in july of 2008 to 2. 00 trillion at the peak in september 2014 theyve since dwindled if thats the right word to 2. 00 trillion dollars and heres the chart of excess reserves of the 1st of the bombing flows in the formaldehyde keep the dead corpse of the global Banking System alive for 10 years like they would inject epsteins corpse or some kind of embalming fluid or formaldehyde and then the New York Times will insist that everyone in america nurse themselves by nibbling on is a bomb fingers to to sustain themselves in this time of trouble and so remember obama has said we need to look forward not back. Of course thats how injustice. Continues and perpetrates and trickles down thats why. They look forward not back with Jeffrey Epstein when he committed his heinous crimes. With very powerful people and on behalf of very powerful people including governors senators Prime Ministers multiple of your scheme of your brain you build on the lie and you then you take it to a new place and you star referencing your own lies in misconceptions to create ever more elaborate lies and misconceptions as the media keeps coming up with this route to phobic. Blame game but im sorry i interrupted but i tell you i want to continue on this story because remember in 2008 in 2009 the aftermath of the financial crash we did have some show trials in congress in order to absolve them and get you know basically get the criminals off the hook and we had the famous Goldman Sachs sacks of poop that they sold to our Pension Funds and defrauded Pension Funds and nobody ever went to jail there was nothing they could do thats when obama said we need to look forward not back here 17 Goldman Sachs bankers charge a multibillion dollar malaysian fraud case its funny because on the on the tweet they actually have one of the Senior Executives of Goldman Sachs at the time a british guy who is now a has been indicted i guess in malaysia and he stand it was George Osborne because of course George Osborne was the chancellor of the exchequer in the United Kingdom and he intervened in the h. S. B. C. Case here in america and got those guys off so pointing out that these guys are also going to get off i think with that subtle reference there is George Osborne in that photo 17 current and former Goldman Sachs bankers including his most senior london based executive have been hit with criminal charges related to multibillion dollar malaysian fraud case the malaysian Attorney Generals Office filed charges related to claims the countrys government were defrauded out of billions of dollars in bond deals some of which allegedly end up going to the film of wolf of wall street right well im sure goldman will come out with a jeffrey collateralized mortgage Obligation Bond and theyll end up in a lot of Peoples Pension accounts and all that and at least youre not ferkin alec baldwin who tweeted that he believes that epstein was murdered by putin how fricken delusional do you have to big if if youre all bald and there seems to be no woman. Well be back after this break dont go away. When lawmakers manufacture consent instant of public wealth. When the ruling class is protect themselves. When the financial merry go round lifts only the one percent. We can all middle of the room signals. I mean real news. Cast calendar is drawing alfonzo among his darned this changing page hes dard served. His 1st words were i will i will see you are a challenging post youve got 2 years to live. I have no doubt that what happened was scriven. The sites concentrate market is a 1000000000. 00 industry these companies have huge financial motivations to sow these problems there are numerous stocks showing that doctors work keen to test facts right concentrates free infectivity on that patient gives them doctors the wrong stoplight. Or term to stop why theyre keeping them secure those years day. And people still die i dont know which question or so i write being allowed to live so many have. Welcome back to the kaiser report imax kaiser continuing with carl denham juror of market hyphen ticker dot org Karl Denninger of course he applies as keen financial analyst mind to politics and approaches it i would say from the view of true Political Science to look at things kind of for what they are without you know get the smoke out of the way call welcome back. Thank you very much max all right lets talk politics in your opinion did any of the Democratic Candidates for president look like they could beat trump no you know word i was trying to figure out where the same one was in the last in you know a little 1st 2 debates you know each of them were 2 nights in and what you have is a half dozen that are. At least from polling data have some chance of getting a nomination and then you have 15 that are indistinguishable from 0 so none of those 15 are going to be the nominee absent something absolutely ridiculous happening and the ones that are on the top just as crazy as the ones at the bottom so its from the bottom up you have the most insane sort of pronouncements coming because you have to do something in order to get yourself out of the gutter and from the top youre essentially youre either trying to fight off one of the other front runners who carry their their dances or score a knockout blow on one of them a solar back down to the bottom bit so its a car that just called in as a consultant and they charge you a figuring out what parts of the comp economic model kenna democrats hit like where is he vulnerable if he has a vulnerability south you know if you were advising on his people what wow and instruct them to hit him on an economic vulnerability if they see one call well the biggest economic vulnerability is is the attack that has been leveled also over wage earner class that is the people on the right side of the bell curve in america end of the lower and. The problem with the trying to attract lower end which is where the democrat vote based tends to come from. Is that if you do that you have to go after the illegal immigration problem and theyre allergic to that so thats a very difficult thing to. Do ready on the top in the other problem you have with that is that theres a long highly educated people. Weary go there and where the democrats are gone thus far has been with trying to essentially for gives the truly needy half dollars was a College Loans which is Fertile Ground in terms of you know how do i buy votes right so somebody will want to give you more 1000. 00 thats just pretty good way to buy a boat problem with theres a cant case for it and is any get into the whole medical care situation because again another area for all grown for democrat votes to Senior Citizens are on fixed incomes and yet you talk about medicare for all people start trying to total numbers on net its insane so you know i dont know where they go what i would say is if you really want to attract this the popular place to go is that 80 percent issue that Neither Political Party wants to go after and that is defining the medical one off youre going to immediately generate 20 percent population which rude people are making all money doing us theyre going to teach theyre going to come at you with pitchforks the noise tortures and then cross ruthless and try to burn your house but busy the other 80 percent of the population would see on average a 10 to 20 percent real increase in their standard of living every year and thats enormous yeah thats a really good point we talk about this all the time on the kaiser report and i member Hillary Clinton actually i think tried this in the 1st term of the clinton bill clinton and as you point out she got attacked pretty viciously and then the bond market came unglued and bill clinton made the famous remark that when he comes back he wants to come back as the bond market because thats where the real power is and then has really been a viable issue sense you talk about not having enough money in the coffers to pay for our student loan forgiveness your thoughts on andrew yang hes got the 1000. Or a month u. B. I. Universal basic income concept your thoughts well i mean you know 330000000. 00 americans 1000. 00 a month you know whats whats the budget impact your get what i always love is the answer to this that the democrats always trot out is what were going to tax the rich ok and thats thats 8 a very good selling point among the American Population the problem with that is it only works for one year because if you turn around and you tell me that if i make more a 1000000. 00 a year youre going to put a 90 percent marginal tax rate on me then im going to make 999000 dollars next year and want to get to 9 or 99. 00 a better stop working i want to go to the beach and learn my ties and you cant prevent me from doing that so your Tax Collections will go to 0 from this policy after the 1st 12 months and yet the promise you made to keep paying the money thats not going to go to 0. Where you could do with less lets talk china what do you think about the trade with china are we shutting the barn door after the horse has bolted is it possible to every store manufacturing and innovation to america carl were doing the right thing what were doing it the wrong way. I have long argued that we shouldnt hit china and everybody else whos wage an environmental purity terrorists in fact it was a Central Point in leverage book that i wrote and it is the right thing to do because jane people to offshore jobs. By allowing them to abuse workers and poison the land is inherently and it will in our worry just that ok and yet thats what weve been sent about so correcting it is the right thing to do in addition china is only quote unquote great because they have ripped off intellectual property in a wholesale basis for the last 30 years so anything that they did tends to take some of the teeth out of that snake is good the problem with what were doing right now is that youre just the factories are just moving in places like vietnam and indonesia not come back here in the United States and thats because we havent applied those tariffs on an equal basis to everybody were focused in one place that is politically necessary for trump in todays world but in the long term it doesnt actually solve the problem what it will do however is destabilize chinas banking and Financial System which its about time they had a little comeuppance for trying to run a 4 percent debt to g. D. P. Ratio in a car ive got a Background Telecommunications as well let me just ask a question the rumor or the thought is that huawei is now the leader on Global Telecom and and what their latest technology the next Generation Mobile Wireless Technology 5 is that correct and ill buy you know look ali is certainly a global force they certainly have a decent Technology Base they ripped off an awful lot of it but you know how reacquire still have it once you have rights it is saying is they are by no means the only source for 5 g. Telecom equipment in your world today it would like to be a little cheaper yes but thats a different question and can you do it now were just talking about markets right and so really when you get down to it i dont see the threat they are and what i do think is interesting is that theyre you know theyre putting their own employees like operating system out because we. Googles essentially block be able to put google apps on your stuff now its and thats very very good so no Chinese Communist party point of view because it will make the surveillance of their citizens easier because the employing of penetrating into the rest of the worlds worst 0 talk about Elizabeth Warren shes got an antitrust rhetoric going on against Silicon Valley does the u. S. Need a trust busting president more than anything else at the moment caro yes but shes focused in the wrong place there is a serious problem with Companies Like amazon there is a serious problem with Companies Like facebook. Amazons biggest miracle this brings 3rd Party Sellers on to their platform if theres any data online and if its profitable enough they call them out of the market thats illegal its been illegal for 100 years theyve been documented to be doing it and on top of that the cross subsidisation of businesses between their Cloud Services and their physical goods as illegal too but nobody goes to jail today where Elizabeth Warren could score big points is if she went to that 8020 year shoe and went after the medical monopolies because that ists retreat in dollars a year to get ripped off a lot of american pocketbooks that is if your miss a lot of money were talking about somewhere on the order of 10000. 00 per citizen in the United States today that you keep that would make a huge difference and if she could actually be coherent about it which im not convinced she could is one that frankly i think could get to the white house wow actually im fine thank that going to be the most talked about the part of the discussion lets move on to tell see gabbert running on an antiwar platform the military and the many bases around the world eat up half of the u. S. Budget they think downsizing is a good idea even if impossible when they can. Census on spending even more seems to be a bipartisan issue karo its not half the budget its come on its a 6 ok 700000000000. 00 should we cut that off yes. Is that going to solve the problem would which we Medicare Medicaid its going to be about 1. 00 trillion issue or no can we have a Defense Budget was 0 no clue us a 100000000000. 00 nor maybe 200000000000 or. Disengaging from places we never should have been in the 1st place so for example afghanistan oh yeah and so thats thats a good set of policies but if you look at the rest of what he has out there its its lunacy primes nonsense just like the rest of these folks and so you know trading on a war record you know hey thats thats nice but guess what shes not getting any impact there the one thing she did do was really bend jamel harris over the table of the last debate and give it to her the hard way yes that was it that was one of those those moments on t. V. That you go oh boy that one hurts you know obvious short of a baseball bat i dont know if she could have done better no nuance in that carl other place plays like it like it does now so we mentioned Elizabeth Warren we mentioned andrew yang we mentioned tell to gabbert in a minute we have left i want to return to this concept this idea you have the 8020 concept because this is fricken awesome we talk about her all the time by going after the medical establishment americans get as i think you said tant a 20 percent increase in the standard of living correct thats well yes and for people at the low end its even more would be about 10000. 00 per citizen. Yeah i mean this is the way to go and in the right hands if articulate a correctly could put a democrat in the white house you know youre youre no for you know i i when do you think thats going to happen. No because youve got all sorts of they are all the reps tool we bought by the medical and pharmaceutical complex the needle none of them were going anywhere near there so ive been trying to get this into the political world got a model bill for it for the last 70 years its going to absolutely no or so curl before we go whats the name of your book again leverage money will destroy the world elaborates exactly great but hey thats it thanks for being on the kaiser report thank you all right and thats going to do it for this edition of the kaiser report with me max kaiser is facing i would want to thank our very special guest carl then a journey is over there at market hyphen ticker dot org and try to reach us on twitter as kaiser reports an exxon bio. Because you. Know. What politicians do. They put themselves on the line they get accepted or rejected. So when you want to be president or injury. Or somehow want to be rich. To go right to the press its like before 3 in the morning cant be good. Im interested always in the waters in the college. There should. Be. Im going to make me. Physically as Prime Minister resigns amid tensions in the Ruling Coalition after the interior minister video accused him of creating on workable conditions. To snap elections. U. S. Attorney general william remove the acting director of prisons off of the suicide of geoffrey ups thing we discussed in the conditions at the jail where upstream took his life with his former lawyer but fundamentally wrong with that is that jeffery have steam did not belong in that facility to begin with. The u. S. Military announces plans for new intermediate range hypersonic missiles off the pulling out of the i. N. F. Treaty with russia and test launching a new cruise missile
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