Kaiser this is the kaiser report the u. S. And china are edging closer toward greater and greater rivalry of the 21st century as they say yes indeed we have a 1st headline about china and i want to say present the context of this globally whats happening President Trump is parading the fed once again saying we need negative Interest Rates because we are of course in a monetary war and a trade war with around the world hes pointing to europe having negative rates and that we cant compete with europe if we dont have negative rates against china of course hes always saying china manipulates their currency and they we have an free fair trade with them and here is a headline about that from china looking at the United States china u. S. Rivalry on brink of becoming a quote financial war former minister says the growing rivalry between china and the United States is at risk of becoming a financial war a former chinese finance minister said on saturday luigi way chairman of the Foreign Affairs committee of the chinas people political consult of conference e p p c c National Committee he said quote the next step in the frictions between china and United States is a financial war it is characterized by the use of long arm jurisdiction by various excuses the block specific enterprises such as the bans on z t e and huawei of finance or the women talked about for a while of finally the mainstream is kind of getting it to the side been trying to figure out what exactly does it may and this pressure to go negative Interest Rates is a stall just on steroids other words trump is saying we want to go back to the 20th century and the way to get there when america was down and we want to get there by going backwards in time and the only way can do that is. If you were to revalue the worth of time and take it from having a positive linear Going Forward positive Interest Rate having a negative Interest Rate remember europe is stuck in the past its a museum nothing ever happens there and thats what a donald trump would like to do with it to go back to the 1960 s. And 1970 s. What america was great and disco was was was on the turntable of course america runs our empire as an empire of debt and all of that debt is backed by derivatives which are tied to algorithms which price based on time so without time if we have negative Interest Rates all of that pile debt anyway collapses because theres no way to price all of the all of the derivatives that back our empire so you cant have a price for anything in the Financial Markets if there is no positive Interest Rate upon which to construct a dividend discount model or some other typical way of valuing assets and therefore the only way to keep this ponzi scheme going is to keep flooding the market with ever more trillions of dollars worth of big money and more derivatives so the ponzi scheme will increase americas debt will go from 23. 00 trillion to 50. 00 to 60. 00 trillion i have no doubt about that by the way we are and brooklyn where in a warehouse in brooklyn so if you hear people beeping behind us its because theyre angry about somebody parallel parking or something in front of them but i also want to say that this guy luigi way he notices the United States having an increasing amount of xenophobia us in referring to the anti russian xenophobia but in particular hes looking at whipping up a xenophobia against china right now because of this trade war he said the u. S. Has been close to the air of mccarthyism referring to the pakis of making accusations of subversion or treason without proper regard for evidence so he does know that which is quite interesting that that was. Mark of all thing about the russia gate hoax is that there was that imaginary ghost and enemy out there called russia during the russia gate hoax meanwhile if you look at huawei and other 5 g. Technologies coming out of china and other technology in china chinas actually leapfrogging ahead of the us economically and now is visibly the currency war so now that whole period of focusing on russia would be is just a waste of time we should have been focusing on the actual rivals americas pretty dominant in the u. S. And i would be china part of this again the u. S. Dollar as a weapon the financial war the desire for negative Interest Rates he said that china should look to cooperate with other countries to build one or 2 independent International Clearance systems to prevent the u. S. Using its long arm jurisdiction write the u. S. World reserve currency and using instruments like swift which gives the u. S. The ability to censor any transactions they can censor iran they can censor china they can censor any country they want to and apply sanctions and engage in war you know sanctions are an act of war and the u. S. Has had a soft kill war going on now for decades against these countries that they dont like big rary very dubious reasons and the unknown reasons really well now were going to get into a multipolar world and the ability to cut people off from the Financial Data will cease if you want to be the neutral platform on which all internet happens or all commerce happens then of course it needs to be always neutral regardless just like at the u. N. General Assembly Every year here across the river and manhattan they have to allow anybody any nation free passage to come there and speak so we want to have that u. N. General Assembly Every year here in order to have that we have to promise that we want to arrest anybody we wont allow we wont prevent. Some guy we dont like or a dictator or authoritarian like from speaking there so the same thing with the International Settlements system if you want the power to control it and youve got to allow all trades settle there otherwise this emerges now of course speaking of financial war and speaking of china by the way this is the most prosperous economy the world has ever seen says jamie diamond and its going to continue so jamie diamond was interviewed on 60 minutes by leslie stall 1st of all he says that the trade war wont be settled before 2020 but it wont cause any problems he doesnt see that theres any indication that the consumer in the United States is willing to stop spending he says the consumer which is 70 percent of the u. S. Economy is quite strong confidence is very high their Balance Sheets are in great shape and you see that the strength of the American Consumer is driving the American Economy and the Global Economy while business slowed down my current view is that no it was just a slowdown not a petering out so and a diamond says the most prosperous country every means the most indebted country ever so you have student debt skyrocketing household skyrocketing corporate debt skyrocketing the National Debt is skyrocketing hes in the business of selling debt. Derivatives around debt for example jamie diamond its never been more prosperous so yeah i can understand his point of view but nevertheless its hollowing out the economy and its extraordinarily fragile and we see pockets of it collapsing in various towns it could be flint michigan could be San Francisco could be various towns are just disappearing and being vaporized by this fragility of the economy because been hollowed out because of the likes thanks to jamie diamond course jamie dimon is the head of the biggest bank in the world certainly the biggest bank of america as well and he is saying 1st of all that trump is going to win in 2020 because you dont have a booming economy and a president incumbent who loses 2nd of ah yes its the Consumer Spending leslie stahl should have followed up of course when he said this is the greatest economy ever she should have asked him why then as the largest participant and. Repo market the largest bank in america is the fed having to intervene to the tune of up to 200000000000. 00 every single day in the repo market jamie diamond why is that happening if everything is so great well the measure of a booming economy according to lesley stahl 60 minutes jamie diamond is the ever increasing number of billionaires but there is a point where you have to understand that for every billionaire its a disenfranchisement of a 1000000 people its a its not the same as having an economy generating prosperity with some kind it going to be across the board and a rising Living Standard this is a 0 sum game played by Interest Rate apartheid games by jamie diamond and his cohorts on wall street or moving for example hundreds and hundreds of billions of dollars from pension accounts through their pockets using ultra cheap manipulated Interest Rates we now know that Interest Rates whether its libel or the bank of england or the fed they are engaged in a racket tearing and thats why jamie dimon is being prosecuted for racketeering because i mean it relates gold silver bonds stocks currencies is a racketeer thats what he does to be clear jamie dimon himself is not but 3 executives at j. P. Morgan Senior Executives are being charged with racketeering within j. P. Morgan leslie stahl then went on to ask him about the fallout from the financial crash and the lack of any sort of justice there he said there was no Old Testament just as a lot of people lost their reputation and money but too many people didnt so of course she didnt ask him as a follow up well dont you want to do any penance do you feel guilty dont you want to confess to the fact that you jamie dimon were on the board of the new york fed when you at the new york fed decided to bail out j. P. Morgan to the tune of hundreds of billions and on the other banks fundamentally change the character of america by strong arming and pressuring eric holder. The attorney general to introduce the holder doctrine which says that theres 2 tier system of justice in america and theres no rule of law if youre jamie diamond and the bankers on wall street this is trickle down to the general population is boston under 50 years ago theres looting at the top theres going to be looting all across the nation all across the society so when you look at the crime sprees when you look at the public def occasion when you look at the public lawlessness if you look at the riots on the street thats because at the top is the genda set by jamie diamond whos saying look at me im a crook and im a billionaire you can be a crook too and you make 20. 00 is so its a crooked awful cesspool which is poster child is frick and jamie dimon of course he says yes we have too many billionaires and this is a cause of the fed bailing out everybody but that we shouldnt take it back from people like myself in fact we should just raise the minimum wage to 15. 00 i make all those Small Businesses pay the price on top of that he said yes inequality is rising but that doesnt mean Free Enterprise is bad of course using propagandist to say he is Free Enterprise when in fact j. P. Morgan is not free to fail so that is not Free Enterprise of Free Enterprise he hasnt had a losing day and years because they manipulate markets and j. P. Morgan famously went 3 or 4 months last year without a losing trade on any given day thats like flipping a nickel in the air and having it land as every single day for 90 days on are days are at the only way thats possible is if the nickel has a heads on both sides so this is this is jamie diamonds game its heads he wins tails we lose our heads he wins and he wins again and he continues to win every single possible day as we head into that 2020 alexion i want to say that democrats will probably not be happy with his his statements that the economy is booming and that in fact we need a 15. 00 minimum wage because none of the neo liberal candidates for sure dont want to look left wing as Hillary Clinton when so. I and i push for a minimum wage rise right well thats going to do it dont go away much more coming your way after the break with tyson slocum. Spoiler alert this edition of the program is not about the trump impeachment drama instead we focus on ukraine and why are the Corporate Media is so misleading about the military coup in bolivia. What politicians do something to. Put themselves on the line to get accepted or rejected. So when you want to be president. Or somehow want to be rich. To try to be prosperous avoid them before 3 in the morning cant be good. Im interested always in the waters of. Course should. Join me every thursday on the alex salmond show and ill be speaking to guests of the world of politics sport this list im show business ill see you then. Welcome back to the kaiser report imax kaisers im not its arent you tyson slocum he is of the Public CitizenEnergy Program in washington d. C. I said welcome back always great to be here you know if youve got your finger on the pulse of whats happening there in d. C. And youve got a story here we got to talk about whats j. P. Morgan doing down in texas with the El Paso Electric so in early june. Which is a franchise electric utility traded on the new york stock market been in operation for more than 100 years its got a Service Territory in west texas and parts of new mexico about 500000 households announced that it was being acquired by a private Investment Fund called the i have. Claims that its advised by j. P. Morgan chase and company but the more we started to dig into this transaction the more we uncovered the fact that i is actually controlled by j. P. Morgan chase and company and so in numerous filings before the federal Energy Regulatory commission which is one of the government bodies that has to approve and review this merger we have raised the alarm bell. Ferk and other regulatory agencies should not approve this merger until i comes clean about its affiliate ties to j. P. Morgan chase right now like some. Of the j. P. Morgan they go to the graveyard and find some dead people but they found the equivalent therefore of and to be a front to control this Energy Company and as part of this need and. This this move by monopolist like j. P. Morgan and others to control the Energy Business and its you know. Until recently that was a public utility and there was a need to make sure that these things were operating so that energy was available to the public at a fair price now weve got Intermittent Energy energy grids collapsing power is failing and youve got a monopolist in the background gouging as price gouging by the master price gougers cereal fraudster and rackets here jamie diamond himself probably the number one most wanted financial terrorist in america so washington d. C. And youre over there citizens Energy Program aside from you know applying some pressure there to try to get more disclosure or its a publicly traded company right. Dont they have to comply with some or all laws there i mean arent they violating some produce share responsibility of anyones investing in this like a pension fund or a corporation or private equity fund with a lack of disclosure here there are potentially committing fraud themselves they should be aware of this i think that there are some Serious Problems here as you pointed out gets all of its capital from Pension Funds its our understanding that most of the Pension Funds that are investing here are municipal firefighter Teachers PolicePension Funds from small and medium sized towns a lot of times these municipal Pension Funds dont necessarily have the management wherewithal to compete with the likes of a j. P. Morgan and so we actually got our hands on some of the pitching power point documents that i was giving to these small Pension Funds and what we found from these pitching documents is that i f. Doesnt have any employees every single employee that works for this private Investment Fund is lent to it by j. P. Morgan so j. P. Morgan staffs the entire operation and they have 3 allegedly independent owners well when we did digging these. People dont own anything they actually didnt contribute any money they are just Board Members and we recently got j. P. Morgan to admit that 2 of the 3 owners are there because j. P. Morgan submitted their names as references doesnt arent people going to realize that and funds are like the toxic waste for risk in any any bad trade because the people to match their purposefully hire stupid people to manage these Pension Funds public Pension Funds and they just go there and they dump garbage in there i know ive worked on wall street and ive done many am bad trait that should have been on somebodys rich guys account it dump it into a pension fund because they have no way to stop it its just its the puce and you know thats the way to go yet we already found one example of self dealing where in 2018 j. P. Morgan owned 120000000 class a shares of this Wind Power Company called coastal states when they recommended that i buy these 120000000 shares from j. P. Morgan so j. P. Morgan is allegedly be independent Financial Advisor to this fund and yet heres j. P. Morgan selling its own stuff to i often thats just one example that we found im sure that theres dozens more it raises issues not just for the Regulatory Oversight of an electric utility but how the pensions for firefighters for teachers for cops how their money is being invested and this doesnt look good for them if if j. P. Morgan is is basically constructing this elaborate front to mask its actual control over this fund i remember in 2008 Goldman Sachs was caught selling bogus products to its own customers that they themselves that knowingly put in their customer accounts to defraud their own customers and then eric holder the attorney general at that time said you know what were going to legalize financial fraud under the whats called the holder doctrine or. Because fraud is americas number one business so speaking of a serial frost theres one couple maniacs like warren buffet. Tell us whats going on with kraft and theyre theyre fine for rigging wheat futures i mentioned Warren Buffett because of course Warren Buffett on the big one heinz ketchup and they engineered a merger with kraft just a few years ago so he knows all about what was happening here speaking tell us about this fraud yes so there is a federal agency called the u. S. Commodity Futures Trading Commission which regulates Commodity Markets wheat Oil Natural Gas and they caught kraft red handed manipulating the wheat futures market levied a fine but in the new good in the negotiations to do the fine it wasnt just you know the c. F. D. See coming out and saying youre guilty instead it was a plea sensually where kraft neither admitted nor denied any wrongdoing agreed to a settlement where they paid a fine but in the fine print of this settlement kraft negotiated a small little clause that said see if t. C. And the individual commissioners of the c. F. D. See wont be permitted to talk about this settlement and in announcing the settlement each of the individual see if t. C. Commissioners made statements about this this manipulation settlement they just reached with craft and days later crafts attorneys filed a federal breach of contract suit where they accused the see if the c. Of criminal misconduct in. Violating the consent degree of this. This fine so son of some cracker company. Is threatening the u. S. Government absolutely rigging markets thank you eric holder and that and now. You did your job if we were a small fee was pay we keep 0. 90 of every dollar we steal right warm up j. P. Morgan but thats not enough they then want to sue the government for doing their job as private corporation thats absolute correct this is intimidation and this is the Political Climate were in where a Company Caught red handed committing wrongdoing immediately turns the tables on the cops are the regulators and accuses them of i mean anyone whos malfeasance stories in new york of cops being spit at and having water poor ahmed disrespected it comes from j. P. Morgan it comes from kraft it comes from heinz it comes from Warren Buffett it comes to eric holder who treat Law Enforcement agencies and regulators like garbage that the highest levels of our government that trickles down to the street theyre providing the example for people to follow of treating police like garbage and so the this Craft Company of course because they cant make money on crackers they have to resort to the financial future manipulation thats the only place they can make money is on their cash desk manipulating and committing fraud thats their Business Model is fraud and its an out and now their Business Model is intimidating federal regulators Martin Scorseses film about this i mean he just made a film about mobsters you know dying mobsters in a nursing home he should make a film about these mobsters that are actively torching an arsonist killing our economy scorsese watches the program write what you told him you know we borrow a lot of his shots he called this the scorsese the intimidation shot. Doesnt mean streets. You know he went to n. Y. U. Like i went to n. Y. U. We studied him in film school now your thoughts on the california pee genie and now theyre warning 10 years of blackout so this is a good. And so this Utility Company they are shutting the power down because they cant guarantee that the trees on fall on the power lines to start fires or act isnt like smothers from the simpsons you know mr smithers i think it was the only way to live it Nuclear Power plant this is a travesty youve got a situation where what the 5th largest economy in the world the state of california is doesnt have reliable Electricity Service because a corporate owned utility p. G. Any pacific gas and electric cant manage its transmission lines without fear of forest fires resulting what we have here is an issue of severe corporate mismanagement where p. G. Me has time and time again prioritized financial returns for its investors at the expense of the Public Interest necessity of running right you know theres going to business whether its providing electricity b. J. Or making crackers a craft or providing Banking Services to j. P. Morgan they can do their core business they can only make money manipulating markets couldnt that p. G. D. Can only make money by focusing on the short termism by manipulating markets by strong arming regulators by committing fraud than they did the fukushima of the. Essentially theyre just crux theyre outright frick and crooks and people are being tortured theyre being theyre dying theres arson theyre providing an example of petty thieves and antisocial behavior theyre going to go private and everyones going to go private Kohlberg Kravis and roberts are going to own everything with Warren Buffett were going to be serfs on their front in the futile plantation. That all back to d. C. Its all this work about it well were instead of them going private we think they should go public as becoming the state of california should set up a state agency and should the governor should declare. State emergency sees genies assets under that Emergency Declaration under Eminent Domain and give those assets to a state agency to operate them in the Public Interest because from the san bruno natural gas pipeline explosion in 2011 where p. G. News found to be criminally negligent to this wildfire disaster with their transmission lines p. G. And as pretty as proved that they cannot manage the basic fundamentals of their being genie is doing to mother earth what Harvey Weinstein did to the me to victims i think thats pretty clear its just as ugly you recently noted that the coal industry is looking for subsidies elaborate on this we have less than a minute we have 30 seconds so bob murray who was the recently departed c. E. O. Of Murray Energy corporation that just declared bankruptcy really had the president s ear on National Energy and Climate Policy and he was pushing the trumpet ministration to orchestrate a National Bail out of coal fired power plants that were losing money to cheaper natural gas and renewables and so the trumpet ministration for the federal Energy Regulatory commission has been pushing to redesign americas electric power markets to give a huge taxpayer subsidized benefit to coal alright its like im thank you so much for all the updates fascinating stuff makes me sick but we have to talk about it thank you thank you and thats going to do it for this edition of the kaiser report with me max kaiser and Stacy Herbert like to thank our guests tyson slocum if you want to catch us on twitter its kaiser report and so next time bio. Descriptions. Sound up a tasing even for the owners so how to choose just had Food Industry is telling us what to feed our pets really more based on what they want to sell us then was necessarily good for the patton turns out in touch food may not be as healthy as people believe and we have animals that have you know diabetes in arthritis and they have auto immune disorders that cant allergies we are actually creating these problems and its a huge of a democrat problems all of them i believe can be linked to very simple problem of diet and some dog owners so heartbreaking stories about their pets streets the larger corporations are not very interested in proving or disproving the value of their food because theyre already making it a 1000000000. 00 on it and theres no reason to do that research. Shows seemed wrong why dont we all just all. The world to get to shape out disdain become educated and engagement equal to trail. When so many find themselves worlds apart. Chance to look for common ground. On. The ratings and sell you terry should see. Last friday on a cold november evening here in washington d. C. We were witness to a grand display of magic hawk watchers when United StatesPresident Donald Trump took out his magical pen with and with a few quick flicks of his wrist disappeared the sins of 3 u. S. Soldiers accused of committing various types of war crimes including one criminal conviction the servicemen were army major matthew l. Goldstein who was facing a murder charge over the controversial killing of an unarmed man in afghanistan he claimed was a taliban bomb maker was also a former army for me army 1st lieutenant clint warrants who was convicted of 2nd degree murder back in 2