tv [untitled] June 21, 2011 7:00pm-7:30pm PDT
well kind of a loner show at the real headlines with none of them are safe or can live in washington d.c. now it's able to take a look at a new poll that shows that libertarian views are becoming more and more popular then it just how much of a role do big banks like goldman sachs play in price manipulation are going to break it down for metals to oil all the way to food and keith olbermann debuted his new show on current t.v. last night but wasn't really alternative media are just a lot more insane when you get into all that and more tonight but first let's take
a look at what your mainstream media missed today. all the big news around town is of course that tomorrow night at eight pm president obama is going to outline his plan for withdrawing troops from afghanistan and at the moment how many that's going to be what the timetable is going to look like it's mostly a guessing game is different channels and news outlets all report from different sources we are learning some new details about president obama's plans for the way forward in afghanistan we expect to hear directly from the president from several white house sources telling fox news he has not made a final decision on just how many troops to bring home from afghanistan this year president obama outlining his plan to begin withdrawing u.s. troops from afghanistan i was going to happen to morrow night and administration officials says the president will announce that goal thirty thousand surge troops he sent to afghanistan last year will come home by. the end of two thousand and
twelve and also breaking news radio all of them a tribute to the associated press has some news on the president's plans for afghanistan according to a.p. they say that ten thousand troops will come home this year so. this is big news because let's not forget this is now america's longest war it's one that americans have said in polls that they feel isn't worth fighting and quite frankly there is no end game there's no victory in this battle let's face it and stab what we're seeing is waste we've seen death the death of thousands of u.s. and coalition forces the death of thousands of afghanis civilians and those in security roles and all the while there are only about one hundred al qaeda even left in the country it's time for talks with the taliban people it's time to realize that one hundred thousand troops on the ground is neither sustainable nor smart let's go back to the mainstream media either at least covering the fact that the president is going to make an announcement and for that i guess i have to applaud them but the problem is it's still not really what i would call analysis i think if you print articles that we saw this were just
a perfect example of how they just get it so so wrong major troop reduction that's what they have to say on the l a times major afghan drawdown come on people when you have one hundred thousand troops in a country you heard talks of five ten thousand out that's not a major troop reduction neither is removing thirty thousand troops by the fall of two thousand and twelve and you want to know why because that will still mean by the end of obama's term as president there will still be more u.s. troops in the country when george w. bush left office and with that little thing called a thirty three thousand troops search don't we see a real reduction in the ten year long war that's when maybe you can start throwing the word major around but again we come to the most obvious problem the mainstream media doesn't know how to cover wars if they do then they definitely forgot the point is they just don't do it because it's not fun it's not sexy it's not funny it's not the same as talking about pictures of a congressman's junk it's wrong it's dark it's brutal it's graphic it's destructive
it's war. now we're going to show you a report from one of our correspondents who's out on the ground in libya in just a moment but first i'm going to show you images of civilians that were killed in the latest nato misfire and i'm warning you these are incredibly graphic they're hard to look at but it's something that you have to see to understand what goes on . in the. i said that's not easy to see but that's what the obama administration's not hostilities looks like that's what happens in any military conflict be a humanitarian intervention or a civil war there are consequences there are lives that are lost there are those that are caught in the crossfire there are flesh and blood victims but the mainstream media would rather focus on the partisan politics than the number of games you know this isn't just about what's whispered in the halls of congress and
decided upon in the oval office this is about life and death and that's what the mainstream media always manages to miss. so now let's take a closer look at the real victims of this war in libya and his latest airstrike has left more civilians dead and that includes two toddlers so as the line struggles to defend its credibility some libyans are growing increasingly united against nato artie's maria notion has more from tripoli. another day has brought more death and destruction to leave. a large dog compound west of the capital tripoli has been leveled reduced to rubble in apparent as trying. rescuers have discovered the remains of fifteen people according to leave in officials.
the houses destroyed belong to general who the other kudi one of the people closest to colonel gadhafi it was among those who took part in the military coup to bring the libyan leader to power forty one years ago the general escaped injury but most of his family died in the attack. because. this man is talking about a little on one of the grandchildren of the general and one of three kids killed in the incident the day of the bombing the family had gathered with friends to celebrate his fourth birthday. libyan civilians that is when attacked in the air late hours of this morning killing fifteen people including three were children. there is still the mothers. it's. the number is fifteen even nato has denied these claims
just as it's never been to the death of more than eight hundred others believe in a government says were killed by their bombs the nine people killed in sunday's bombing of a residential building in tripoli remain the all the civilian casualties i can buy the lines which claimed a mistake technical failure a former pentagon official says the only thing clear about the nato campaign is the mountain casualty toll and it's inflicting on the libyan people they try to achieve a certain level of humanitarian effort and initially the protracted bombing is now increasingly hitting civilian targets and it's creating a very negative reaction i think it does raise the question of what is nato's role continued role going to be there as the content of those actions increases are the voices become more and more than two. of the libyan people. and it seems that the more anger they feel about nato the more they support their
leader. that it's about this is the second thing was meant as it was to say it was a. challenge it was. just the. thing. in the united states is that this problem was that. you wanted to leave it out of this is. what is the. dying. notional. tripoli. now is america's war offensive brought be they in libya or afghanistan or other places as they become less certain have to wonder how it's affecting the political
views of the population c.n.n. has been conducting a poll on libertarian views since one thousand nine hundred three asking two questions of their respondents if they think the government's trying to do too many things that should be left to individuals and businesses or if they think it should be more and whether the government should promote traditional values in society or not favor any particular set and this year those numbers have shot up sixty three percent of respondents said that the government was doing too much fifty percent said the government shouldn't favor any particular values so as we see increasing frustration with washington increasing frustration with wars abroad as well as wars waged here at home is america really becoming more libertarian or is putting a name on it just because it's not fully democrat or republican the wrong way to go about looking at the scenario here to discuss this with me is david kirby associate policy analyst at the cato institute david thanks so much for being here tonight thanks for having starters and what do you say some people are saying this is the year of the libertarian you've got to have them really in our presidential
candidates yeah that's right i mean nation building has been a complaint of libertarians within the republican party and it seems just transitioning from your previous statement that this idea that we should go bang is expensive and it doesn't work it has libertarians have been making an argument like this for many years starting to catch on in the political polls one other example of how libertarianism might be right at the moment but i think you know one of the things about it too is that it's not like i mean democrats used to be i guess you could say at one point we're the anti war party but i think that part of the problem is we're not really seeing that from either party anymore and i actually have a clip that i want to play you from barbara boxer this is something maybe you wouldn't expect her sights take a look. were you disappointed in the administration's response right now or position where should we go from here well i think then what you're doing. everything fine. and i think we have to make sure that we stay close to the.
rebels because one of the sure they understand what you see is you can see. i mean from everything that. was highlight of the ground and i think that many analysts will tell you it's not working in libya it's not going anywhere but some if you think of this is true are people just sick of both parties telling the line whenever they have to because if it was a republican president it was waging a war in libya and obviously the democrats would be up in arms about it and the way we see many republicans up in arms about the moment but are they just sick of everybody going along with what the president what the party has to say certainly seems to be i mean libertarians have long been sort of political faction that's neither really republican or democrat they tend to be independent maybe call them moderate fiscally conservative socially liberal they're sort of always looking for a political and so you see a pattern of republicans going to do the right thing they vote them out our office when democrats don't do the right thing they that vote them out of office so they've been looking for leaders who can represent them. the tea party for instance
has been libertarian force for good i would say at least half the people in the tea party are libertarians and or complaints against the same pattern of business as usual as you were describing in washington has started to catch on but i did not exit tea party i think you could say is pretty socially conservative at least on a lot of issues not something that urban areas are not well so the interesting thing when you actually look at the data is the tea party is split between people who are libertarian and who but the social issues i care about spending that's what i want from politicians to lower spending lower deficits and if you go out and then you also have a half that's more socially conservative i said it's definitely both parts within the tea party. but it seems like this kind of libertarian half of the tea party is sort of driving some of the energy within the debate both within the republican party and broader and that's what you're starting to see in some of these polls where the libertarian sentiment seems to be catching on well that's what i'm wondering though is it necessarily we have to call it libertarian that we have to
put a label on it just because people's ideas are not so black and right as i think the media always tries to portray them as being that's a good point i mean in the polls they almost never use the word libertarian so there's not an option to chip check the box and i'm a libertarian so instead people are typically as independent or moderate as they said sometimes conservative the capital l. libertarian party is something that a lot of even libertarian leaning people don't want to affiliate with so there's a lot of confusion about the word libertarian don't know exactly what it means a couple guests that have been on your show recently nick gillespie and now well should reason magazine are trying to define libertarian not as a as a noun but i sort of an attitude a pretty poor little instinctive sort of attitude that you bring to politics that i'm just skeptical of government in general and i'd rather just have my individual choices about the way i do business now if you define it that way broadly you can see a look much larger group of americans going to identify themselves that way well since
you brought up welsh actually there's a point to be made when also writing about this this poll today and he said that basically americans have always been more radical than the people they actually elected to office we just never really see that manifest into any kind of action do you agree with that that's a very good point it almost seems like that radicalism even catches up two or three election cycles late so for instance libertarians have been complaining since the bush years about all this spending and now well and behold all the republican politicians are finally catching on and saying oh i think i want to end spending to work congratulations about eight years too late but they're so it seems like the electorate tends to be more radical and pushes politicians are always playing catch up to culture and sort of so. the atmosphere but so how do you really see this playing out now do you see the libertarian movement becoming a libertarian party becoming a third party into them at the mean time even people like ron paul like carrie johnson they start to run on the republican ticket it's hard to say i mean there's been points in u.s. political history where third parties have been possible they're more entrenched
the two political parties are more entrenched today than they have been previously to campaign finance restrictions in other words so i'm not sure i see that in the next few years but it's always possible right now it seems very clear returns are having the most traction through the tea party affecting the debate and the conversation so they've really been able to change the tone of the conversation in washington and i doubt spending that's the first issue that's kind of on the minds of voters around the country and i really think that's a tribute to libertarians who've been making this argument for so many years and you're starting to see an uptick among other groups of people catching on as well let's see that's where i get a little bit skeptical because i think that when it comes to social issues when it comes to things like gay marriage maybe even you could say legalization and start spreading in a number of states that's where attitudes are really changing people are becoming a little more relaxed in america i'm wondering if we get out of this economic crisis is at any point soon whether you know people will not go so far in the libertarian sense because they say if you want to cut spending but any time you do
a poll asked about social security or medicare nobody wants to see it i guess time will only tell david thank you so much for being here tonight i mean. also to come police claim that they've arrested another major hacker of the u.k. but is the arrest just a p.r. move by police after being embarrassed time time again by hackers in recent months and speculation on wall street is that the reason for major spikes in oil food and metal prices looking to the issue in just a month. you know sometimes you see a story and it seems so silly you think you understand it and then you glimpse something else some other part of it and realize that everything you say you don't know i'm charged. welcome to the big picture. says. it all i.
or never governor says they're keeping safe get ready because you're going to have freedom. most governments across the world are on heightened alert about hackers seems a few countries in europe have ants up their efforts of take town those who battle governments and corporations online just two weeks ago spanish police announce that they have apprehended three people who they said are members of anonymous and all anyone has yet to prove it the spanish media is alleging it be given to vigils are responsible for the massive data breach on sony's play station network as well as hacking into governments banks and other businesses they claimed the tips in an online chat room led them to the three hackers turkey also arrested several hackers
who they claim and members of anonymous however all twenty three of them have since been released after they failed to find any convincing evidence linking them to any cyber attacks and meanwhile in the u.k. the f.b.i. is responsible for capturing nineteen year old brian cleary who they say is a member of the hacking group security. he's you know has reportedly showed a dozen police officers raided the family home at ten thirty last night in a joint operation by the f.b.i. and. however shortly after cleary was detained the hacking community gave a very clear response the big three major was not heavily involved and non-sexually added the good news everybody right has little to do with the science running i.r.c. all six members of little saker find safe before anyone gets confused up there i received answer internet relay chat it's one of the original designs for online chat rooms and even though it was created in one nine hundred eighty eight it's still used today over i.r.c. is one of the name methods of the hacking world he uses to keep in touch because of
the ability for users to remain anonymous now and also confirmed queries were all saying ryan cleary is not part of all sick we house one of our many legitimate chat rooms on his i.r.c. server but that's it now to top it all off scotland yard released a press statement on this teenager's arrest and they said the teenager was arrested on suspicion of the computer misuse act and fraud act offenses and was taken to a central london police station where he currently remains in custody for questioning i was statement continues on saying at this point there is a no confirmation that the person arrested is a member of law it's like how ever as the statement said he was arrested during a sting operation after attacks on intelligence agencies and international businesses now i'd just like to take a moment here point out what i think anyone who is on top of the hacktivist movement might already know but it's damn near impossible to capture any one leader of the hacktivist movement not only do groups like anonymous and all security purposefully work in a loose community without a strict hierarchy but also really good at not getting caught remember that whole
communicating using r.c. thing let's draw a comparison here i don't have the taliban are two completely different issues when it comes to u.s. security but i think it's safe to say the u.s. or any other military or police organization is clearly incapable of taking them down terrorists and hackers are different things not equating them. but it's the way of the all tories treat them sometimes the same if the lying about it that gets to me we already pointed out how the f.b.i. has clearly flubbed their investigation again into an act let's go back to a few weeks ago it was discovered that general petraeus a flawed stats when it came to the us capturing members of the taliban on june thirteenth i interviewed investigative reporter gareth porter on this show about those mismatching numbers on taliban detainees the notion that somebody is free because of something you know in consequential just doesn't make any sense in fact the criteria for holding them are so broad that it's very easy to keep these
people in detention for a long time so the fact that twenty percent of those detainees who were cycled through the main detention center were actually released after a review of their files means that they just didn't have any. so just like the u.s. military and general petraeus failed to detain any militants justly we find f.b.i. and european intelligence groups and able to just we detain those they've just captured especially brian cleary those are the police's way of easing the worries of governments all over the world making a big show the rest of people in trumping up their importance and then just quietly releasing them when the media spotlight has faded if so i take pleasure in calling them out for it if there's a force you can't fight don't pretend to be going it just for parents is. now more fingers are being pointed at goldman sachs and this time it comes from another big business name and people are distressed bank is now being accused of manipulating the metals markets by coca-cola he says the prices have become artificially high
and the london metal exchange is investigating that issue but you could say that it looks like we might be seeing a strong pattern emerging here when it comes to those accusations of market manipulation goldman sachs definitely isn't the only player but their trail makes it a little easier to follow according to wall street journal and they goldman raise its forecast for metal commodities. that price is going up and may god then also predicted that oil prices would rise and prices went up and so i would argue the goldman sachs commodity index has played a long lasting role in speculators trading on food and energy and causing food prices to rise globally so is there any way to stop it up and discuss this with me is tyson slocum research director for public citizens and argy program thank you so much for being on the show yeah my pleasure now like i said ever going to break these down one by one in just a minute but what do you say are we seeing at least some kind of a pattern emerging here where goldman sachs likes to make a prediction a lot of prices will often go up but a lot of people say well because that's what you're doing is you're fueling the speculation oh yes no question we've seen this for years now we're analyst with
goldman sachs will release public research same spec to see prices go up and then we see prices trail exactly what they were predicting when you've got an entity like goldman sachs that is such a significant player in these commodity markets and they're a significant player in three different ways one they have their own proprietary trading desk they're also managing bets on behalf of end users like airlines and other folks like that and then they're also managing money through index funds or they're taking pension money and other managed funny and other managed funds and that was also in huge market share and there are no clear rules that allow these banks like goldman sachs to not communicate with all three of those different divisions and so you see a lot of opportunities for a bank like goldman sachs to play games in this market and i think that we're seeing prices in metals in food in energy like oil go beyond the supply demand
fundamentals and in fact federal regulators and states have concluded that more than eighty percent of the volume trade is being conducted by speculators led by goldman sachs let's talk about coca-cola as complaining specifically here when i talk about these metals they say goldman sachs j.p. morgan also you could say is involved in this they just buy up warehouses and they can. plan is that if they just hold on to the material they don't release it you may get it all in very quickly but it takes ten months to get it out tell us more about it yeah i mean that practice is actually for the most part very legal and so the question is is what regulations are needed to prohibit or limit the ability of a pure speculator like a bank from hoarding physical supplies especially when the hoarding of those supplies is affecting the end users like a coca-cola or other manufacturer supplier of retail products that in turn those prices are going to be raised for end consumers and that's the last thing we want to see in this economy so what we've got to do is put together some very simple
rules that limit the role of speculators to do this one would be limiting a pure speculator like a goldman from engaging in physical hoarding of the supplies another issue would be in acting firm position limits that would limit the amount of trades that a pure speculator can do in this market that will limit their ability to control a huge chunk of the market and therefore reduce their leverage and third would be increasing margin requirements so you'd have to put up more money in order to speculate that's going to increase the cost of speculation and that's going to reduce the levels of speculation look speculation is always been in markets and it serves a necessary rule the problem that we have a public citizen is when speculators are driving the market volume they are determining the prices rather than the supply demand fundamental what happens that we're not physically hoarding you know they're not basically hoarding food supplies and yet you can say the global food prices are rising thanks to a lot of this market manipulation what do you do that a lot of that is is just through the paper trades that are going on i mean in oil
markets for example ninety nine percent of all of the trading activity never results in the physical delivery of a barrel of crude oil and so the way that you can get at that paper trading rather than the physical hoarding is again the reacting the position and that's that reduces the market share because right now. a company like goldman sometimes controls forty sixty seventy percent of the market that's not very competitive so if you limit their ability to control that size of the market that's going to limit their ability to unilaterally stop prices and again in acting stricter margin requirements that would require them to put up more capital that's going to reduce the level of speculation is rarely goldman isn't the only one at that's guilty in this situation and like i said even j.p. morgan you could say that they buy out these warehouses when it comes to the metals prices but who else are some of the big players and we've also talked about the koch brothers on this show and the large role that they have playing or else thank you lation but it's almost every single wall street bank involved oh yeah absolutely i mean i mean barclays you've got morgan stanley citi group spun off its
energy trading business to talk to the petroleum so you've got a number of financial players and some. oil companies and then you've got agricultural concerns like cargill that are also big players but really big banks dominate the market and going after the tactics that goldman sachs uses is going to be important if we're going to rein in the speculators and bring prices back down to the supply demand fundamentals is that what you think of the london metals exchange is doing right now i mean they say that they're investigating the situation but i feel like it's just frustrating for average people right because they only investigate when another huge corporation like coca-cola happens to complain are we at least heard president obama mentioned he was going to start a task force to look into possible illegal oil speculation but like i said you never see the same when it comes down to you affecting real people around the world when it comes to food prices and the fact that people are actually starting out
that's right absolutely it's not heartening when a regulator relies on a third party to bring issues to its attention the role of the regulator is to police these markets now we have to make sure that more of the trading activity occurs in markets that are directly real regulated by these exchanges we've had a number of regulatory. moves over the last decade that have moved a huge volume of trading away from the exchanges regulated by central governments onto exchanges where only the banks control the access to the information so we've got to make sure that all of the trades that end up affecting prices occur on exchanges that are fully regulated by the government that would also help with rates well it sounds nice we'll see if that actually happens in the meantime some people say that you know we're just seeing you bubbles emerge as well and i want to thank you so much for joining us tonight my pleasure. now coming up next we have a show and tell and then he's back and return to t.v. last night with a new show on current t.v. but it's.