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tv   Interviews Culture Art Documentaries and Sports  RT  March 22, 2014 8:00am-11:01am EDT

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all the developments around. the future however. thousands are converging on madrid from all the calls spain as people played by unemployment and austerity struggle to make their voices heard. for time killer fireworks to celebrate the reunion of crimea and russia but the joy may be overshadowed for many families who explore the fate of crimea soldiers serving in ukraine. and british academics say the government is making them hunt down illegal immigrants among students and warned that reputation is at risk.
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this is all seen to a national coming to life from moscow hello and welcome to the program in spain the so-called march of dignity has seen from thousands of protesters from different regions or walking hundreds of kilometers to the capital madrid many say the physical exhaustion is nothing compared to the strain placed on them by continued mass unemployment and spending cuts and our correspondent has been walking with em . they've been walking by foot since the ninth of march covering the hundreds of kilometers coming from different towns and villages across spain. in the rain under the sun and now. they're entering the final stretch before their final destination the spanish capital of my trip but let's find out what drove some of these people to take part in this march and to walk so many kilometers
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a little sir were you here. why am i here i'm sick of this government with all the promises they never fulfilled and they said they were going to create more jobs and lower the taxes a little to live instead unemployment rolls from four to six million this is the only way we can find backing a man in the us my home last sunday and have been walking seems then we are united we need better health care education and more a job. quite honestly what you got cause you to take part in this march. there are too many reasons my sons have to work every day from eight in the morning to five in the evening only for four hundred us spend months and also i'm a teacher and i know what cuts in the public sector mean bullies of the actions this isn't saying i'm marching to madrid because i can't walk today lean on trestles we must stop them and the troika. will these people have different motives
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to take part in this march to walk so many kilometers which they do have one unifying them objective and earlier with met with one of the organizers of this march during a break that he took just a little bit earlier here's how he explained what they're trying to achieve over here knows what the government wants us to go back to the franco years and keep the working class from demonstrating in the streets and seen what our main problems are we won't allow that to happen and they know it here we are in madrid we came to see . but this government has lied to us from the very first day this government and the one before presented themselves with a political agenda that has never been in force they said they'll do one thing but actually do the opposite we are fed up with all these lies but we also came to say that they have to go that we will change the system from the bottom to the top and all the workers in the streets would she have this. this is only one of the columns
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which is taking part in these marches all these days since it is the thing to watch . on saturday thousands of these people will finally meet together in central madrid to make their voices heard you got this kind of authority reporting from spain. a crucial the spanish population is out of a job but what it comes to use unemployment the picture is even gloomier with over half of the young people not being able to find work and the international monetary fund has warned that the country may face five more years of a high jobless rate unless more reforms are enacted and we are of course closely following the march for dignity here on our c international is kind of is in madrid waiting for for the crowds to gather there later today. less than a week after voting to carve itself away from ukraine crimea has now officially
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become part of russia ukrainian forces stationed in the peninsula have been offered the chance to take russian citizenship and join the local military or leave but for those quiet means is serving in ukraine it's looking like a struggle for them to return home as i reports. a lot of attention has been placed on those ukrainian soldiers who are serving in crimea but very little attention being placed on those crimean soldiers who are currently serving inside ukraine and now there's some three thousand crimea's who are serving in ukraine they are desperate to come home don't forget home is a different country we managed to speak to two mothers who say that they're struggling to get hold of the sons they are being told that they are being moved from post to post as you can well imagine these mothers are dispersed go through every day she says to me. they are burying us for transfer i asked him how much longer they have to say he says they're not saying where been kept in the dark while our children are their guardian military equipment we are and for my son
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would also not be in korea to have pictures of summarize some piece of bread and that's all of what they're getting covered well here on saturday morning crimea's are waking up to a new reality one that is infused with excitement and jubilation it follows a magnificent firework display on friday night you had here in the capital city of some for apple as well in sebastopol and in moscow fireworks russian bands there were people singing along waving russian flags holding balloons it attractive people of all ages you saw fathers with their young children hoisted on their shoulders i was standing next to some young women who were crying as they watched these fireworks talking to people everybody experiencing a sense of history as indeed crimea is reunited with russia watching that one there well there we have finally in russia at last a long term dream has come through. the day we're celebrating the
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unification would lash out all historic margin and these. are yes. i think all crimea as i have you know we're back and we're only worry now for the russians the population in ukraine south. well this follows the signing on friday by the russian president vladimir putin of an historic agreement that was earlier ratified in the upper house of the russian parliament that sees crimea and the city of sevastopol formally becoming full members of the russian federation. eastern ukraine is being wronged by protests against the new leadership in kenya with many raising the alarm over the rise of new nazi groups the city of donetsk has seen some of the biggest pro russian rallies with self-defense activists clashing with far right radicals and crowds are demanding a referendum on a possible secession protesters across eastern regions say they are making a stand against the near nazi leanings of the interim government. and
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a group of israeli m.p.'s have written an open letter to the press to the president of the european commission saying juries in ukraine are suffering from constant attacks it's claimed this is a direct result of the rise of nationalists in care from ukraine's jewish community have also traveled to israel to seek support. even i think that the new authorities in kiev are unpredictable and they are definitely a menace to the jewish community they're passing laws which limit the national minorities russians and jews are considered to be diasporas and inferior to ukrainian i've been living in fear for the past several years as this nationalist movement has been gaining steam other jews are anxious to especially the older war generation they feel helpless because our values are incompatible with this ideology. he is what was drawn on one of ukraine synagogues last month after a local rabbi discovered the source stickers accompanied by a violent anticipated slogan on his doors he decided to pack up and leave and he
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told r.t. he was worried his family could be targeted we caught up with one israeli m.p. to get his perspective on the situation better. i mean. in the beginning you had gangs roaming the streets yelling jews leave we remember similar events from the past and we know what that could lead to it isn't so yes you do and you never know where it will end it so we must be vigilant and support the jewish community we support them all your and will continue now more than ever because of the chaos in ukraine. so the far right is gaining influence in ukraine is not the main issue for european leaders who are now focusing on putting more pressure on moscow over crimea the use planning to cut its reliance on russian gas after slopping saw the sanctions on the country political commentator ana unturned skate believes it's common for the blocs politicians to blame moscow instead of working to resolve
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their own internal problems traditionally russia is accused because that's the vision that many politicians inherited from the times of the called war but in this situation europe is profoundly in economic crisis and for europe enlarging towards ukraine was a victory they hoped to bring to the electorate before the european elections but of course it failed because it wasn't realistic while it was largely voluntary based on sound dreams so political ambition so when the reality came in the other car which took a step which was the only possible step we seemed out of the same step to make new leaders recurse economically you can't integrate the country of forty five million people without two million dead overnight so it is a traditional it approach because europe still is needed it's needed of this image of anime are fresh there because it's much easier to talk about the situation of conflict and crisis created by russia is meant to resolve the problem of twenty
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five million of european unemployed. washington is standing by ukraine's former opposition after supporting its rise to power and while the evil has been hailed as a victory for democracy crimea's vote of self-determination is being dismissed as illegal auntie's the situation and looks at how the u.s. backed regime change works. exporting chaos and to the world promoter of the right to self-determination and other high principles the us we are long as the days when the international community will stand quietly by while one country forcibly seizes the territory over another incidentally behind this noble statement is the number one med learn internal affairs of other nations an example of what is known as the arab spring is a method set of destruction achieving political purposes throw having fired
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this throwing them fed the country that coined the term regime change promoting unrest wherever on the globe serves its interests latin america has been a major target of the us over the years and. we have examples of outside intrusion and the internal politics of states like mexico guatemala panama nicaragua haiti dominican republic and grenada repeated attempts of a coup in venezuela argentina brazil ecuador and bolivia there was no coup in the one hundred fifty year old history of latin america but the u.s. government did not apply its hand to. coincidentally u.s. participation in events in ukraine did not begin or end in distributing snacks or friendly gestures of support i've invested over five billion dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic playing in the west spent five billion dollars the stabilizing ukraine this is something that is
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a mess that is foot on russia's doorstep by the west the fourteenth of protest turned into chaos russia proposed that ukraine work with both the e.u. and russia the u.s. had another idea wanting to see ukraine as part of its ally the e.u. read to eventually find its way into nato there is no other path that would bring ukraine back to long. political stability and economic growth a popular joke among american leaders why will there never be a coup in the u.s. because there is no u.s. embassy in washington freedom sovereignty and international law all terms repeated like a mantra by u.s. officials but with a handful of examples of the u.s. attempting to property or other parts of the world the joke is not so far from reality and party washington d.c. . and c.n.n. christiane amanpour has called out russian officials in particular its envoy to the u.n.
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batali churkin blasting him for refusing to give coleman's being afraid of tough question. how people like churkin feel they don't really have to leave their comfort zone choke and own daughter is the us based reporter for russia today in new york she's shown here cuisine u.s. state department spokesman jim psaki over this whole ukraine crisis and in the pond she's even reported on her own father. so christian common poll bringing all season is to say church going to into the equation back questioning her reporting on her own father the u.n. envoy while the russian ambassador has already issued his response to the criticism highlighting on paul's own to respond in anger and also saying he's used to tough questions and accusations having been consistently speaking out at the security council for yez had to have conference details on their route. still ahead for you this hour while british high schools are widening their
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horizons as students have been exposed to strictest surveillance. we are trained up and we have a passion to be lecturers to be involved in teaching support we are not border agents. but the u.k. government seems to be the education process a bit differently stay with us to find out which home office policy is outraging the british academic elite. you budget week. big news for bigger players a chance for the tax on profits to ten percent in bingo lingo this would be jumping jack ruby drawers to google docs crack crack it comes to herbie. isolated incidents or international president calls about the enablers crimea's do
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has the right to see is it a question of international law or a military might. this is all seeing to national welcome bach classrooms our respect for open dialogue and no check points that's what some one hundred sixty lectures from the u.k.'s most
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renowned universities are trying to make clear to the government and open letter published in the guardian newspaper they say they're being forced to share their students' immigration records with the hollow mosts point boyko want to talk to the academics who've spoken out against the policy. the british government wants to stop student visas being abused but the way that the border force is going about it has rubbed a number of universities up the wrong way over one hundred sixty academics from universities such as oxford and warrick have written a letter to the guardian newspaper saying that they are under increasing pressure to check the immigration details of their students well to talk about this in more detail i'm joined by one of the signatories of that letter professor desert friedman from goldsmiths university of london professor friedman thank you very much for joining us tell me what is it that u.k. visas and immigration are forcing universities and professors like yourself to do
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they want stringent monetary requirements on international students and we feel this is just simply discriminatory we feel that it's not really part of our jobs we are trained up and we have a passion to be lecturers all to be involved in teaching support we are not border agents but it's no secret that getting a student visa was in a tourist easy way for someone who had absolutely no intention of studying to obtain a visa to come to the u.k. what's wrong with the u.k. border agency checking that students really are studying if they really do want to clamp down on the abuses where they do take place that has to be in those countries where the visas are sort not to try to get academics or support staff to do jobs which they are not trained and have very little interest in doing on the one hand we've got this reduction of immigration to the u.k. that the government says it wants to achieve the other hand you've had slashed budgets for universities and an increase in tuition fees so where does that leave
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universities right now universities are dependent increasingly on the income of international students and in their own self preservation you would think they would be lobbying incredibly hard inside government to say that this is on except to go and discriminate for me this should be a pastoral relations. i do not want to treat my international student any differently from my home student professor friedman thank you very much for your comments while the home office whose job it is to check that foreigners are in the u.k. legally they've defended the reforms they say that the process is now more robust and less open to abuse reporting from london i'm poly boy. our team has lined up for you on our website stories that include elaborate ways to avoid the n.s.a.'s all seeing i google is about to launch and then in corruption technology to make its emails that snooping prove had to ask dot com for more details. and display the planned pullout of u.s.
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troops from afghanistan washington keeps pumping billions of couch into the country's record structure for the taxpayers' money appears to be flowing into the wrong hands for more on how the corruption has been exposed log on to our website. lead right from the scene of the. search for little and i think the church. on our reporters. and instead. of in the little. we wanted to create a realistic global that would represent life that we had to pay to live as it really is.
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there's an accident six. welcome to the wonderful in this the whole thing is a marvel. cross-talk
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rules in effect that means you can jump in anytime you want. i wish before local elections the turkish prime minister has vowed to wipe out twitter as a method of avoiding further unrest but the social network has exploded in response the number of tweets from turkey reportedly rose one hundred thirty eight percent within hours pass as users found easy ways to easy ways to bypass the ban they then blasts of the move with a mocking pictures protesters say by attacking social sites authorities are simply trying to sow whip corruption scandals under the carpet and by only as a key way of the pan-african newswire believes it's only going to leave
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a basin up to taste it's connected with the upcoming elections both local and national within turkey of course there's been a huge amount of attention surrounding a corruption scandal involving prime minister erdogan and then of course there has been the response from many people of course who are concerned about this even people within the turkish government itself even our president abdullah. reportedly had tweeted himself distancing himself from the prime minister. so i think it's a combination of factors that are political but i think it's in the long term it's going to backfire on the other guy and in the party has quite interesting when we have these types of undemocratic actions and proclamations coming out of countries that have good relations with the united states or you don't get the kind of response that you would see in other countries for example restrictions that have
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been placed in syria or in the republic of sudan or in zimbabwe or even in washington in terms of the recent developments surrounding ukraine in crimea. more international news stories in brief for you this hour around one thousand the supporters of the far right party golden dawn have staged a rally called greece for greeks protesters chanted slogans against the current prime minister and state controlled media the march comes ahead of the upcoming local and general elections in may greece is. right wait a minute just let me do it again. greece's government has recently quieted down on the rising ride shouting the openly fascist golden dawn party which was connected to the killing of an anti right away in a rather in the past. korea has sparked fresh tension by firing dozens of rockets into the scene is being seen as pyongyang's latest protest against ongoing joint military drills by south korea and its u.s.
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ally the north after the anti last year after testing its third atomic bomb. one of the most secure locations in libra tripoli's international airport has been born and explosives were detonated on the runway although there were no casualties is the latest attack in the country which has appealed for international help to combat what it calls terrorism rogue militias are running rampant and have even taken over eastern oil fields. israeli forces have killed three palestinians in a shootout in the occupied west bank the incident happened during a raid on the house of a fugitive hamas member wanted by israel for his alleged involvement in shooting and bombing attacks tensions are running high in the run up to and i will deadline imposed by the u.s. to set a framework to advance already faltering peace talks with israel. in the southwest pakistan a collision between
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a petrol tanker and two passenger buses has killed at least thirty five people with many victims burning to death all the vehicles burst into flames just margins after the crash mostly because the buses were also transporting gas and diesel canisters on their roofs into city buses operating in areas close to the iranian border are reportedly often involved in the illegal smuggling of rain and fuel. and coming up announcing international and day set tearing down the latest global headlines but if you're watching us in the u.k. . with george galloway. i don't want to beat a dead horse i try to bridge these opinion pieces but you created melt out hits really close to my heart and affects people i know when i see obama gleefully
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talking to self elected new ukrainian prime minister just burns the inside of my brain he's throwing hypocrisy gasoline on my fire of contempt not only to delete phone call from the estonian defense minister claim that the kiev opposition used both sides but now the former ukrainian chief of security confirmed that the sniper fire came from a building under the control of the protesters at that time also the alliance currently in power in kiev glorified out see germany and you slogans like putting jews and russians to the knife so america's first black president a nobel peace prize winner who is elected by waves of tolerant optimistic lefty liberals is smiling and chatting with a leader who is supported by white power right winger groups that use the murder of their own members to oust a democratically elected government there william nightmare is now my friends but that's just my opinion. quite often countries rich in natural resources are the poorest africa's
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a colony it's a colony of the big corporations it's a colony of some its own leaders who are under the thumbs of the big corporations so they have to beg from the world bank's development of social programs goes to pay back debts the country is we're drowning under the amount of debt that they did and so every year they would borrow money. and they would use that same of the money to pay back o. this. and all that money. the wages of debt. welcome to the kaiser report imax kaiser it was u.k. budget week and. big news for bingo players the chancellor have the tax on
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bang go profits to ten percent in bingo lingo this would be a jump and john have droopy drawers to google docs quack quack comes to her beat. yes of the poster that accompany this because the conservatives are very proud of their having of the bingo profits and actually a one p. reduction on a pint of beer so their posts are reads bingo cutting the bingo tax and beer duty to help hardworking people do more of the things they enjoy the chance of the cut was prompted by the fact that the number of bingo halls had plummeted by three quarters of what the last thirty years. maybe has something to do with like modern media the internet games things to do that are better than playing bingo now it's curious that he would be so fascinated with bingo that the number of bingo halls is diminishing so he's going to cut the profits on the bingo profits to resuscitate the bingo business this would seem like
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a misplaced use of taxpayer money somehow oh well actually the biggest thing go operator said they're going to open three new big all the while this is just failing to resuscitate what is a con of being more a bond with excessive debt due to speculation and mis placed bets along the way and so therefore being low itself would seem to be the last place one would want to put that money makes me think that they haven't encountered a working class person since maybe the one nine hundred fifty s. but it's also important and bingo lingo to when you shout out the numbers to get the numbers right because you don't want to call out the wrong number in the wrong person thinks they want so i wanted to look at the importance of numbers over in the united states this week there was also another important announcement here here in the u.k. at the budget twenty fourteen in the united states had janet yellen first ever press conference stocks tumble after yellen says six months during the q.
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and a of a press conference wednesday afternoon janet yellen said the fed could start raising interest rates as soon as six months after it was done winding down its stimulative quantitative easing program this was a much narrower. timeframe than expected now i'm still thinking about this bangor thing you know i think i got it now the tories the tough power basically their perception of the working class here in britain are people buying beers and playing bingo that's the perception of the working class so to please these folks they're getting the p.r. off on the beer and give some on an industry that's in decline bingo but this is their perception this is what they this is the. looking glass mosquita little big boost they have now actual connection to what people might be doing on the working side of the equation that would support the economy that they are so egregiously ripping off the day to day they smarter and folks but moving forward janet yellen
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yes she has indicated that the potential for raising interest rates would be you know six months after labor and quantitative easing so she's putting a date on when the free money the bingo profits are being cut to the speculators on wall street the city of london and of course stocks move down on the news but this is the the pot to do that we see going on between reality and fantasy is that every time i talk about raising interest rates of course markets will drop and then they will keep rates low so for the foreseeable future as long as it's possible to crash markets then rates will be cheaper to make it easier to crash markets yes i mean regarding the bingo even the big o. association said it's going to have no money in the pocket effect for the actual bingo players so there won't actually be what's like it's a forty million pound industry who knows it's like not it's like pocket change right it's not a very huge industry here and in terms of their american bingo you know actually their taxes are about the same as what the bingo is it's twenty percent capital
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gains but she should have used this term instead of six not she should have said chopsticks which is the bengal link i put some what he said that would have been more musing but also what it computes because remember everybody likes fed speak. which is very similar to bingo lingo it's like alan greenspan is the one that mastered this where he would just speak total nonsense and the markets would be very happy with that they would then say calm yeah i think the janet yellen should be running a bingo shop in britain somewhere maybe in blackpool there would be janet yellen would like a turban on talking about this being go lingo kind of way indicating to the people on the bankers and the speculators and the fraudsters out there in the audience trying to line up their collateralized debt obligation with free money from the fed with graft from rome of what mark would lose j.p. morgan. so basically they got rid of forward guidance they did it here as well and well forward quantitative guidance they've now adopted
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a new term of qualitative guidance so they have i mean stocks take dive after fed moves so investors were trying to come to grips with this new phrase of qualitative guidance what was it means and the fed did away with its prior guidance which was quantitative threshold based on the nation's jobless rate the fed had been using a six point five percent unemployment rate as its threshold to start the process or at least kick off the debate about raising rates however with the jobless rate at six point seven percent and the rate itself as a flawed measure of the actual health of the job market the fed opted to phase out the numerical threshold so it's called qualitative guidance. well the markets are addicted to cheap money and you know the fed under tail end of greenspan enter bernanke they would rate lower interest rates in response to various crises and they have not yet moved to raise those rates to restore balance to these markets to restore the risk and reward balance because right now if you are on the right side
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of the apartheid wall the interest rate apartheid wall you can make unlimited amounts of money with no risk if you're on the other side of the interest rate apartheid wall then you absorb all the risk and your ability to make any kind of substantial money is cattails and you are living in the interest rate engineer getto so the language from janet yellen is a language of the obvious skater yes the federal reserve chairman always uses very obvious skating language to hide exam they don't want to telegraph to the market what they're doing because they don't want to give traders an unfair advantage however under forward guidance they did telegraph to the market saying yeah we're going to make money as cheap as possible so you can speculate all day and take all the money out of the economy you want we don't care because we don't need the workers we just print the money we don't have the taxes so now they're changing the language somewhat but at the end of the day what it means is that janet yellen will retire as a bingo mistress probably a dominate tricks somewhere at a so hoping go parlor and that's the way she'll enter days but it also shows as
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well that why you adopt this bingo lingo instead of saying six you say chopping sticks because you know six is a real number people can you know grab onto it and prove you're wrong or you know you say to be blue or could hear the click and these are like more comforting to the markets now how did adopting this qualitative number for example they're no longer looking at the actual real on unemployment number because of course those are fake anyway those are might as well be bingo lingo so they said a wide range of information will now be included such as measures of labor market conditions indicators of inflation. and inflation expectations and readings on financial developments i could get a click tickettyboo makes no sense well george osborne's budget speech they don't mention the fact that the debt is going to be higher this year than ever before and all continued to go higher inclusive of all back to you case never been more in debt in so yeah they can play around with semantics they can point to
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different areas of economy they can give people a bingo tax break but the fact is that the indebtedness of the country is ever increasing because they're doing nothing to get rid of the worst actors that are the zombie banks that are sucking all this money from the bank of england and some of these other countries and from these other institutions and the interest on stary that's being imposed is only there to inflict cruelty there's no economic basis for it in fact if you want to look at this next headline and chart that comes with that this is i think why ultimately they will never be able to re raise rates again the most important economic chart and this is productivity per output per hour that's the blue line and the red line is median family real income the chart shows that productivity are output per hour of work has quadrupled since one thousand nine hundred seven in the united states the gains in productivity were quite widely shared from one hundred forty seven to one nine hundred eighty when as you can see from the chart the red line there the income from the median family
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declined to climb to climb while productivity rose of course max in one nine hundred eighty what you think of is that the peak of gold and paul volcker basically coming in with interest rates and basically convincing the world to go off the gold standard and that the dollar is king and it's good as good as gold and however from that point you see that the average worker's income declined. right some productivity gains are shared in that purchasing power was maintained so that you would work more and you could buy more stuff with a dollar that was tied to something tangible now starting in one nine hundred eighty nine hundred seventy one actually and then moving forward into the eighty's when the purchasing power started to collapse but the equation of hours work for pay didn't change then you could say well productivity is robust or not robust but the fact is you could not afford to buy the same amount of stuff as you could at the end of the week or the month as you could before meanwhile the asset prices
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that are owned by those who are engineering this divorced from gold into fee out the assets they go like the fine art and the chateau is in france and london real estate continue to go up in value exponentially so and once again you create this apartheid economic apartheid using productivity in a soul aisha's manner that makes no sense with an underlying economic understanding of how the business climate works you miss quote g.d.p. you could c.p.i. and you present as osborne does or as somebody in the united states does a completely false picture of the economy to benefit the few to at the expense of the rest of us been going on for twenty years is getting worse but it's also that dichotomy the difference between say bingo lingo in fed speak so the bankers and the financial trying natural sort of experts know the real number they know like stop farting eighty three. stop farting is eighty three letting go let go here
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smokes a call back who me what i gotta get down to the bingo parlor because i'm missing out on some very interesting things but you know the productivity number was going up while you know the average worker is being distracted by the fed speak the bingo lingo and they don't realize that their income was going down because they're distracted by different number. or is that that the likes of janet yellen are saying like we're going to use qualitative instead of quantitative productivity the number increase is there more people working more hours for the same especially so there's a whole productivity is going up you know the most productive work environment of all is prison people who are essentially working there all day for twenty cents a day they're most productive citizens in the u.k. in america are the prison population by the way who has the biggest present population of the world the u.s. who's building private prisons now at a furious pace or will about about to the u.k. because of prison business is a profitable business everyone in the prison is the most productive members of
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society when they work all day for twenty cents look at the productivity we're getting out of these prisoners were fantastic financial engineers. oh who made all right stacy we got to go thanks i'm going to but. actually it all right said davis i can have all of our. economic ups and downs in the final months day the london new york sang night and the rest because i was going the take it will be every week.
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we wanted to create a realistic global that would represent life that we had to pay to live as it really is. there's an accident known groups six. what can be more wonderful than this the whole thing is a model. i marinate joining me on. impartial and financial reporting commentary
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interviews and much much. only on bombast and. welcome back to the kaiser report imax keyser time now to turn to a gun ban grier's managing director of matter hard asset management and desert gonna walk into the kaiser replied thank you great to be here all right you guys we've just had some pronouncements from janet yellen and the fed there's always an interesting connection between what she says of the price of gold which of course is their specialty maybe just open us up a little bit by talking a little bit on this yes well you know janet yellen is not going to change anything from what bernanke you did i mean they are the biggest money creators in the world the fed and they will continue to do so ok short term so she had to continue with
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tapering but that won't last. and actually you know the influence of the fed announcement on gold the last six times going back and seeing gold goes down every time and often quite substantially around the fed announcement and then in the last few months is going up back up every time again so it's a good trade going short before the fed announcement and then buying back again if you just said something there you said that tapering won't last now just to give remind people what tapering is i mean the quantitative easing was aside to have the fed buying back all these bonds as effectively monetizing the debt and now this has gone on for a while people are asking what are you going to get out of this quantitative easing in the word used is taper by they're buying less on a monthly basis but they're saying that they're possibly going to stop quantitative easing and she said within six months after that interest rates go higher you're
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saying no taper tapering absolutely not talk a little bit about this well the fed lives in a dream world you know they they believe that like the president of the u.s. economy is booming and that things are going to get only better. won't happen the u.s. economy is bankrupt it will continue to be bankrupt the need to issue unlimited amounts of money to survive of the us are you of course printing money will never create wealth so they won't survive without either but they will just kick the can down the road so so the fed will continue to print money that might be tapering from for another couple of months but there ofter there will be events that will nessa tate necessitate the fed. printing money at an accelerated rate in my view how would you compare let's say what's going on in the fed the united states and the bank of england here in the u.k. obviously they have a new chairman mark carney they've come out with their recent budget discussions it appears that with programs like the help to buy scheme which is
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a well to underwrite the real estate market like the fannie mae in america it's very similar to the u.s. very similar it owed them and there are two areas of the u.k. economy there are booming one is behind us here in the city everyone is rich in the city because if you have money you can make money because everybody every central bank in the world helps you to print money and therefore to trade with money and to make very nice returns on the money. and the other market which is prospering is the housing market you cannot have an economy based on finance and on people buying houses especially now with no money down and subsidized interest rates so the u. k. consumer is boring the u.s. hawke housing market is booming that will last are there ok egon basically if correct me if i'm wrong but over there matt hart asset management in switzerland
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the firm that you run that you're the chairman of the the goal is wealth preservation and the medium for this is gold so gold not necessarily for trade gold and as a in investment gold as wealth preservation what does that mean talk a little bit about that yeah well we decided already twelve years ago in two thousand and two that the world was going to be in a mess and that he was absolutely essential to preserve wealth so we told our clients that to put we even set up to fifty percent of their. financial assets into the physical gold and so that's a very let's say aggressive. recommendation because typically people would say put five percent of all but your firm back when gold was a two fifty three house about eight hundred three hundred fifty percent so obviously everybody didn't put fifty percent in we have clients who have hundred percent in gold almost and we have clients five a ten so but nevertheless we saw that the destruction of paper money was going to
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accelerate so he was for us you buy something when it's on loved and on devalued and at that time gold was both on love and on the vote as it was pretty easy now months will as they have done throughout history continue to do straw the value of paper money by printing printing on limited amounts of it and so they have been doing still doing it. during his period as chairman of the fed he the debt of the united states of america went from eight trillion to seventeen trillion so he created more debt in that in his seven years than it took the us of to create for over two hundred years they went from zero to a trillion over two hundred years and he created a trillion in just over seven years and that will continue yellow will continue as the column do anything else and i want to run in deficit budget deficits run budget
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deficits for over fifty years there and run running trade deficits for for all of the same period right and it seems like everything is tied to this idea of interest rates being near zero for in perpetuity which is which is kind of a a crazy bet but before i talk about interest rates i wanted to throw something out at you and see what your responses basically people talk about the price of gold and they fixate on oh it's nine hundred it's fifteen hundred thirteen hundred and they really focus on price i want to introduce this concept price versus availability the idea here is that when the time comes when you really need your gold because of the banking system collapse from all this shit. again there might not be gold available for you at any price if you know i'm getting at and i know if there's issues in switzerland and around the world people are going to collect their gold from the bank and your service by the way is not a bank it's a vault big difference and this is not there so here's my topic price versus
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availability take it away well you know that the paper market in gold is about one hundred times the physical market at we live in a paper world today everybody believes in paper but sadly the paper gold holders will not get any gold and and when the problem starts in the economy when they will do and people start worrying about the fact that the bullion banks have no gold the central banks don't have anywhere near the goal they say they have and people start saying i want delivery they won't get gold they'll get money maybe if they're lucky and comix will be able to deliver either the futures market to lend banks h.s.b.c. j.p. morgan correct and others they're saying they don't have the gold they say they have exactly they don't have the gold and the central banks certainly don't have the gold they said they supposed thirty thousand pounds i don't think they have off even less i mean every everybody in the gold market knows that the fed has not had
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an audit since eisenhower's days of their gold and it's in asia. it's in asia because what happened especially when goldfeder last year which is i'm sure you've been through this before when gold fell last year this is manipulated the fall of the gold price so that the bullion banks could fill up their holes what happened instead is that because normally everything that wm banks when they've bought buy and sell the gold stays with them the bond the senators will those with them central banks you know the a.t.f. that cetera as it happened now. the chinese bought all the goal of actually it became available and russia and russia let me have this quick political front it seems like on the geo political equation you've got now russia china are signing up against and that will call them the oil and gold and gas powers versus the paper powers of the u.s. the u.k.
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on that other side so it's gold versus paper and this currency war as you could call it. over the last few years during the price fall china and russia have been aggressively buying gold are they now in a position where they can reject the u.s. dollar as global reserve currency and strike out on their own and is that part of what we're seeing in these global tensions absolutely in my view and the dollar does not do so to be there is so the world sadly you know coming from switzerland when i started working in switzerland long time ago one hundred seventy nine to seventy roughly the swiss franc to the dollar it was one dollar for swiss francs thirty today it's about eighty eight cents that's a full of eighty percent and only in the last twelve years the dollar has gone down fifty percent against this was frank. the dollar is on the road to perdition sadly
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sadly but it's you know you cannot run all these deficits that i just mentioned and consistently overspend and spend what you don't have in print money and at the same time be there is a currency of the world so yes the dollar is on its way now i'm trying to support it of various points but the dollar is on his way now to crush all currencies of course are going down to their intrinsic value of zero but the dollar will be the first one. so i believe is only a matter of time before us you say china russia set up personally the the wonderful weapon that russia has now is just to stop using dollars altogether in the ukraine and crimea battle here and of course that will hurt the us more than anything else so never mind all the sanctions they're trying to trying to part of a currency wars so you're saying that in a currency war
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a loss on this kind of big poker game russia china are holding three aces in their gold and then the us has got a pair of twos absolutely especially because they have a very weak currency that you know that is overvalued because the whole world is trading in it but once they stop trading in china and russia will be the first countries to stop trading and in the doing a lot of bilateral deals now yeah already brazil other briton nations a lot of high lateral deals i want to talk about this idea of manipulation for a second because it's a contentious topic but one area that we know without a doubt we see the manipulation happening and that is when we see it almost every single day the price of gold in asia is up overnight because people in asia are buying gold you know they realize is paper money empires about the collapse and then when the price it's new york it's called max you see a big dump every single day on it to me that's a clear sign of manipulation it's not price discoveries price manipulation your thoughts know this call. instant prize manipulation and especially you can see it
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happening because always in the thin market you know the trades are always crazy no one would dump the amount of gold that were in this case paper gold of course is not a physical that they die when them and manipulate because they're just you know if you lose a fortune every time you do it so manipulation of there are many people you are you know chris paul of god and others who are you know more experts in this than i am but it's absolutely clear there's manipulation because it why do they do it well because first of all because they haven't got the gold they have so they actually you know need to get the price down. and secondly gold reveals the bad management of the economy and that's why they want gold down so but i have a various firm view that manipulation only last short you know in the long run the real market will win and in this case gold will wind a candle you know they haven't in the last fourteen years we've gone from two fifty to thirty nine hundred and thirty today that trend will continue because it only
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does it to reflect the destruction of paper money. all right fair enough grice thanks so much for being on the kaiser report ok so pleasure to be here max thanks very much and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank our guests he got of on briards of matterhorn asset management if you'd like to get in touch tweet us at kaiser report until next time fight off. quite often countries rich in natural resources are the poorest africa is a colony it's a colony of the big corporations it's a calling of someone's home leaders who are under the thumbs of the big corporations so they have to beg from the world bank's development of social programs goes to pay back debts cold country is drowning under the amount of debt
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that they should and so every year they would borrow money. and they would use that same amount of money to pay back oh this can all that money really help. the wages of dead. too.
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i don't know as now no more. not say sorry and. if you feel a little unsure of them on the news in the link close with many news it is worth my goodness i can see it i have a dream obama is today it's a movie i have a drawn. drawings have not caused a huge number of civilian casualties. for the most part they have been very precise six it strikes against al qaeda. how this small body on the ground is a little girl and just next to her is a little boy of eight is. we do
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some of her service it's all sort of which all the committees afghanistan's all the one that i can confirm that we are operating in. afghanistan is the only other country like. afghanistan still country at. least legal. lists. little. little. cross-talk rules in effect that means you can jump in anytime you want. to
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live. saddam's are converging on madrid from all across spain as people plagued by unemployment and will sterrett to struggle to make their voices heard. spectacular fireworks to celebrate the way you know crimea and russia but the joy may be overshadowed for many families who explore the fate of crime in soldiers serving in ukraine. and british i could damage say the government is making them hunt down illegal immigrants among students and warn their reputation is at risk.
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hello and welcome to our team to national twenty four hour news a live from moscow . thanks for joining us in spain the so-called march of dignity has sailed thousands of protesters from different regions a walky hundreds of kilometers to the capital madrid many say the physical exhaustion is nothing compared to the strain placed on them by continued mass unemployment and ongoing spending cuts our correspondent chris cornell has been walking with them. they've been walking by foot since the ninth of march covering the hundreds of kilometers coming from different towns and villages across spain. in the rain under the sun and now. they're entering the final stretch before their final destination the spanish capital of my trip but let's find out what drove some of these people to take part in this march and to walk so many
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kilometers. why are you here. why am i here i'm sick of this government with all the promises they never have been no more they said they were going to create more jobs and lower the taxes a little to live instead unemployment rolls for more than six million this is the only way he can find banking and the government in the us my home less on that i want to have a standalone of the united i need better health parity to china more of john i believe the model quite is what you will cause you to take part in this march thing the motel serax humanity reasons my sons have to work every day in the morning to fight in the evening only for four hundred euros per month and also i'm a teacher and i know what cuts in the public sector mean all these addictions this is insane i'm marching to madrid because i can't walk to the lean on crossroads we must stop them and the troika and. all these people have different motives to take
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part in this march to walk so many kilometers but they do have one unifying them objective and earlier with met with one of the organizers of this march during a break that he took just a little bit earlier here's how he explained what they're trying to achieve over here knows what the government wants us to go back to the franco years ago to keep the working class from demonstrating in the streets and seen what our main problems are the problem we won't allow that to happen and they know when your we are in madrid we came to see. this government has lied to us and from the very first day this government and the one before presented themselves with a political agenda that has never been in force one of the they said they'll do one thing but actually do the opposite we are fed up with all these lies but we also came to say that they have to go that we will change the system from the bottom to the top and all the workers in the streets would cheever's. this is only one of the
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columns which is taking part in these marches all these days since it is the thing to watch. on saturday thousands of these people will finally meet together. to make their voices heard you got this kind of r.t. reporting from spain. a quarter of the spanish population is out of a job but what is comes to youth unemployment the picture is even gloomier with over half of the young people not being able to find work and they too national monetary fund has warned that the country may face five more years of high drama this rate unless more reforms are in acted and where of course closely following the march of dignity on our international group is going office in madrid waiting for the crowds to gather here later today. less than a week after voting to carve itself away from the ukraine crimea has now officially become part of russia ukrainian forces stationed on the peninsula have been offered
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the chance to take russian citizenship and join the local military or leave but for those crime in serving in ukraine is looking like a struggle for them to return home as are his policy of reports. a lot of attention has been placed on those ukrainian soldiers who are serving in crimea but very little attention being placed on those crimean soldiers who are currently serving inside ukraine and now there's some three thousand crimea's who are serving in ukraine they are desperate to come home don't forget home is a different country we managed to speak to two mothers who say that they're struggling to get hold of the sons they are being told that they are being moved from post to post as you can well imagine these mothers are desperate go through every day she says to me. they are burying us for transfer i asked him how much longer they have to say he says they're not saying where been kept in the dark while our children are their guardian military equipment we are in for when my son
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calls me and tells me that they are not being sad or summarize a piece of bread and that's all food they're getting every day over here on saturday morning crimea's are waking up to a new reality one that is infused with excitement and jubilation it follows a magnificent firework display on friday night you had here in the capital city of some for apple as well in sebastopol and in moscow fireworks russian bands there were people singing along waving russian flags holding balloons it attractive people of all ages you saw fathers with their young children hoisted on their shoulders i was standing next to some young women who were crying as they watched these fireworks talking to people everybody experiencing a sense of history as indeed crimea is reunited with russia watching that one there well there we have finally in russia at last a long time dream has come true. it's our holiday we're celebrating the unification with russia our historic model and. i think all crimean is
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a happy we're back in russia we're only worried now for the russian speaking population in ukraine itself well this follows the signing on friday by the russian president vladimir putin of an historic agreement that was earlier ratified in the upper house of the russian parliament that sees crimea and the city of sevastopol formally becoming full members of the russian federation. and eastern ukraine is being wronged by protests against the new leadership in key here with many raising the alarm over the rise of new notes in groups the city of donetsk has seen some of the biggest pro russian rallies with self-defense activists clashing with far right radicals and crowds demanding a referendum on a possible secession protestors across eastern regions say they're making a stand against the neo nazi leanings of the interim government that a group of israeli m.p.'s have written an open letter to the president of the
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european commission saying jews in ukraine are suffering from constant attacks it's claimed this is a direct result of the rise of nationalists in k. of us from ukraine the jewish community have also travelled to israel to seek support but. i think that the new authorities in kiev are unpredictable and they are definitely a menace to the jewish community they're passing laws which limit the national minorities russians and jews are considered to be diasporas and inferior to ukrainian i've been living in fear for the past several years as this nationalist movement has been gaining steam other jews are anxious to especially the older war generation they feel helpless because our values are incompatible with this ideology. and here is what was drawn on one of the queen synagogues last month after a local rabbi discovered these swastikas accompanied by a violent and to semitic slogan on his doors he decided to pack up and leave it all out he was worried his family could be targeted and we caught up with one israeli
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m.p. to get his perspective on the situation. in the beginning you had gangs roaming the streets yelling jews leave we remember similar events from the past and we know what it could lead to it is in sight and you never know where it will end it so we must be vigilant and support the jewish communities we support them all your reality and will continue now more than ever because of the chaos in ukraine the mission the mission the far right gaining influence in ukraine is not the main issue for european leaders who are now focusing on putting more pressure on moscow over crimea the planning to cut its reliance on russian gas after slipping further sanctions on the country but it's a commentator an abundance k. believes it's common for the blocs politicians to blame moscow instead of working to resolve their own internal problems. traditionally russia is accused because that's the vision that many politicians inherited from the times of the cold war
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but in visitation europe is profoundly in economic crises and for europe enlarging towards ukraine was a victory they hoped to bring to the electorate before the european elections but of course it failed because it wasn't realistic while it was largely is voluntary based on sound dream political ambition so when the reality came and you had a car which took a step which was the only possible step we seemed out of the same step to a new leaders recurse economically you can't integrate the country of forty five million people with two million dead overnight so it is a traditional it pros rekers europe still is needed it's needed of this image of anime are fresh in bear because it's much easier to talk about the situation of conflict and crisis created by russia's meant to resolve the problem of twenty five million off european unemployed. or into the standing by ukraine's former
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opposition after supporting its rise to power and while there a papal has been hailed as a victory for democracy crimea's vote of self-determination is being dismissed as illegal in a situation and looks at how the u.s. backed regime change was. exporting chaos and to the world promoter of the right to self-determination and other high principles the us we are long as the days when the international community will stand quietly by while one country forcibly seizes the territory over another incidentally behind this noble statement is the number one med learn internal affairs of other nations an example of what is known as the arab spring is a method set of destruction achieving political purposes throw having fired these destroyed unfairly the country that coined the term regime change promoting unrest wherever on the globe serves its interests latin america has been
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a major target of the us over the years and. we have examples of outside intrusion in the internal politics of states like mexico guatemala panama nicaragua haiti dominican republic and grenada repeated attempts of a coup in venezuela argentina brazil ecuador and bolivia there was no coup in the one hundred fifty year old history of latin america but the u.s. government did not apply its hand to. coincidentally u.s. participation in events in ukraine did not begin or end in distributing snacks or friendly gestures of support i've invested over five billion dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic playing in the west spent five billion dollars the stabilizing of ukraine this is something that is a mess that is foot on russia's doorstep by the west before it can protest turned
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into chaos russia proposed that ukraine work with both the e.u. and russia the u.s. had another idea wanting to see ukraine as part of its ally the e.u. read to eventually find its way into nato there is no other path that would bring ukraine back to long. political stability and economic a popular joke among american leaders why will there never be a coup in the u.s. because there is no u.s. embassy in washington freedom sovereignty and international law all terms repeated like a mantra by u.s. officials but with a handful of examples of the us attempting to property or other parts of the world the joke is not so far from reality as they see churkin our party washington d.c. . and c.n.n. and christiane amanpour has called out russian officials in particular its envoy to the u.n. because highly churkin blasting him for refusing to give comments and being afraid of tough question. how people like churkin feel they don't really have to leave
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their comfort zone show king's own daughter is the us based reporter for russia today in new york she's shown here cuisines u.s. state department spokesman jim psaki over this whole ukraine crisis and in the pond she's even reported on her own father. so christiane amanpour bringing aussies and this is a trick you know into the equation here questions her reporting on her own father and boy while on the russian ambassador has already issued his response to the criticism highlighting on paul's own curious family links and also saying he's used to tough questions and accusations having been constantly speaking out at the security council for years and had to ask for more details on the iran. this is not international and so i had figured this out while british high schools are widening their horizons students are being exposed to stricter surveillance. we
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are trained up and we have a passion to be lecturers all to be involved in teaching support we are not border agents but the u.k. government seems to view the education process a bit differently stay with us to find out which office policies are outraging the british academic elite for the brain. we wanted to create a realistic movie that would represent life life as it really is. there's an accident.
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what can be more wonderful than this whole thing is i'm. sure we speak your language as anybody will inevitably and. news programs and documentaries and spanish what matters to you. but what will turn it to bangalore is the story. here. i'll teach spanish to find out more visit actuality. this is also international it's good to have you with us let's move on now classrooms are a space for open dialogue and checkpoints that's what some one hundred and sixty electrodes from the u.k.'s most renowned you know about stories are trying to make
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clear to the government in an open letter published in the guardian newspaper they say bad being forced to share their students' immigration records with the hallmark that he's born a boy i went to talk to the academics who've spoken out against the policy. the british government wants to stop student visas being abused but the way that the border force is going about it has rubbed a number of universities up the wrong way over one hundred sixty academics from universities such as oxford and warrick have written a letter to the guardian newspaper saying that they are under increasing pressure to check the immigration details of their students well to talk about this in more detail i'm joined by one of the signatories of that letter professor desert friedman from goldsmiths university of london professor friedman thank you very much for joining us tell me what is it that u.k. visas and immigration are forcing universities and professors like yourself to do they want stringent monetary requirements on international students and we feel
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this is just simply discriminatory we feel that it's not really part of our jobs we are trained up and we have a passion to be lecturers all to be involved in teaching support we are not border agents but it's no secret that getting a student visa was in a touristy easy way for someone who had absolutely no intention of studying to obtain a visa to come to the u.k. what's wrong with the u.k. border agency checking that students really are studying if they really do want to clamp down on the abuses where they do take place that has to be in those countries where the visas are sold and not to try to get academics or support staff to do jobs which they are not trained and have very little interest in doing in the one hand we've got this reduction of immigration into the u.k. that the government says it wants to achieve the other hand you've had slashed budgets for universities and an increase in tuition fees so where does that leave universities right now universities are dependent increasingly on the income of
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international students and in their own self preservation you would think they would be lobbying incredibly hard inside government to say that this is on the accepted will and discriminate for me this should be a pastoral relations. i do not want to treat my international students any differently from my home e.u. students professor friedman thank you very much for your comments while the home office whose job it is to check that foreigners are in the u.k. legally they've defended the reforms they say that the process is now more robust and less open to abuse reporting from london i'm poly boy. what our team has lined up for you on our website stories that include elaborate a ways to avoid the n.s.a.'s all seeing eye google is about to launch and hung in technology to make its snooping prove i had to ask dot com for more details. and despite the planned pullout of u.s. troops from afghanistan washington keeps pumping billions of cash into the country
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as a reconstruction of the tuxpan as money appears to be flowing into the wrong hands for more on how the corruption has been exposed log on to our website. right to see. her story. and i think you're. on our reformers. in. the in the. womb children on the news. most women news is working martin luther king said i have a dream obama is today telling me i have to draw.
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the drawings have not caused a huge number of civilian casualties. for the most part they have been very precise six it's like. they're small. the body on the ground is a little girl and just next to her is a little boy of eight. we do some of her staff get also which is a country afghanistan's only one that i can confirm that we are operating in. afghanistan is the only other country like. afghanistan still a country. i'd love to see some polling done in the western european countries on a below package for ukraine at this point in time i don't think here would like to see the results i don't think washington would like to see the results.
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a week before local elections the turkish prime minister has to why about twitter as a method of avoiding father unrest where the social network has exploded in response the number of tweets from turkey reportedly rose one hundred thirty eight percent within hours that's as good as found is a ways to bypass the ban then blasted the movie with pictures protesters say by attacking social science authorities are simply trying to sweep corruption scandals under the carpet and only as a kiwi of the pan-african news wire believes it's only going to leave a base that aftertaste. it's connected with the upcoming elections both local and national when they're in turkey of course there's been a huge amount of attention surrounding a corruption scandal involving prime minister erdogan and then of course there has
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been the response from many people of course who are concerned about this even people within the turkish government itself even our president abdullah al ghul. reportedly had tweeted himself distancing himself from the prime minister so i think it's a combination of factors that a political but i think it's in the long term it's going to backfire on the other don in the party has quite interesting when we have these types of undemocratic actions and proclamations coming out of countries that have good relations with the united states or you don't get the kind of response that you would see in other countries for example restrictions that have been placed in syria or in the republic of sudan or in zimbabwe or even in washington in terms of the recent developments surrounding ukraine in crimea. more international news stories in
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brief now israeli forces have killed three palestinians in a shootout in the occupied was a violent incident happened during a raid on the house of a fugitive hamas member wanted by israel for his alleged involvement in the shooting and bombing at times tensions are running high in the run up to an april deadline imposed by the u.s. to set a framework to advance already faltering peace talks with a stroll. around one thousand supporters of the far right party golden dawn have staged a rally called grief for greece for greeks protesters chanted slogans against the current prime minister and state controlled media the march pains ahead of the upcoming local andray or elections in may greece's government has recently quieted down on the rising of right shouting the openly fascist golden dawn party which was connected to the killing of an anti it ride when a rapper named. one of the most secure locations in levy
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a tripoli's international airport has been bombed explosives were detonated on the runway although there were no casualties is the latest attack in the country which has appealed for international help to combat what it calls terrorism rogue militias are running rampant and have even taken over eastern oil fields. and the southwest pakistan a collision between a petrol tanker and two passenger buses has killed at least thirty five people with many victims burning to death all the vehicles burst into flames just moments after the crash mostly because the buses were also transporting gas and diesel canisters on their routes into city buses operating in areas close to that uranium border are reportedly often involved in the illegally smuggling raney and you're all. talking finances busters up next one out international stay with us.
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residents of sunnyvale california are being forced to turn in any magazines that they have that hold over ten rounds to the government i don't call the high capacity magnificent one thousand dollar fine or up to six months in jail or both maybe you personally don't want guns to be legal but there are many people in this world who feel it is their right to have them but the question is how many people are actually willing to stick up for that right it is easy for schmucks like me on t.v. to tell you to go fight for your rights but when their thought cops at your door and black uniforms are crack your skull and all forms of sense a tiny metal box of the spring in it many people are going to give in and give it up and actually takes an incredible amount of bravery to knowingly defy the law
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based on principle and that is why very few people do it and that is why over time in any society your rights freedoms are every want to call them are going to be eroded away tyranny happens because people like you and me are willing to pay a thousand dollars for our rights but that's just my opinion. isolated incidents or international president calls of a secession enables crimea's do has the right to secede is it a question of international law own military might is. going to err i marinate this is boom bust and he is ours. some of the stories that we're tracking for you today. first up has net neutrality finally met its match
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we're looking at the latest rumblings coming out of the world these specifically media business world and what's going on there netflix c.e.o. says that he was forced to sign a deal that his company was not into so it was pointing fingers and where we'll let you know coming right up then we have professor steve keen on today's show he sat down with me to discuss and dodginess money for what isn't this money find out coming right up and if the end of the weekend this means if you look back to your own boom bust edward harrison i address your questions comments inserted live on the show you want to miss a moment and it all starts right now. our
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lead story today. now in a blog post published yesterday on netflix official blog netflix c.e.o. reed hastings upon that without strong net neutrality big pieces can demand potentially escalating fees for the interconnection required to deliver high quality service because of their position in the market now these big piece can make these types of demands driving up costs and prices for everyone else now before we dive into all of this let's have a quick refresher on what exactly net neutrality is and then in tragedy is the principle that internet service providers or i a species like time warner of arisan and comcast should treat all data on the internet equally not discriminating or charging differently by user content site platform application type of attached equipment and modes of communication now in the us the focus of net neutrality is on fixed line operators mobile ios p s have been largely exempt. now net neutrality proponents describe an open internet as one
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in which you can usual internet connection for anything you wish wish no additional charge and with no restriction they call it closed internet a situation in which corporations can restrict what you see over that internet connection and charge for it which is exactly what comcast does and exactly what netflix paid them to do now in thursday's post he said that quote broadband companies should be required to connect their networks to major content providers such as netflix for free in that post mr hastings calls for rules to ensure that big broadband providers like comcast can charge companies like netflix a fee to connect directly to their networks this practice is known as appearing p.-e. r.-i n.-g. mr hastings acknowledged that netflix recently struck a paid peering deal with comcast to improve service for netflix subscribers but he soon argues that such deals could potentially open the door for ios pugh's to charge netflix and other content providers escalating fees to reach consumers while
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both netflix and comcast of characterize the payments as relatively small it's the principle of paid period that concerns netflix in the long term so here's the question know why i signed the deal and then complain about it later well that's because pasting says the deal pretty much amounts to extortion and i think it's a clever strategy because i have a shifty one to do a deal then just say you had a gun to your head after you came to an agreement could be considered well questionable by some of your peers perhaps some consider a heroic but that is for you to decide. just days ago the bank of england the world's first central bank wrote an article that is one of the most talked about pieces. in the policy wonk circles right now
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in the article the bank made bold assertions like the act of lending creates deposits the reverse of the sequence typically described in textbooks pretty bold now the bank then went on to film two videos in its gold vaults explaining this very issue and some of the other issues it addressed economist steve kean was on it immediately and we were fortunate enough to get him on our show to explain exactly what the bank of england meant by telling us that loans create deposits and that the money multiplier is not an accurate description of how money is created take a look at what he had to say. see if i want to get right into the bank of england broker a big taboo telling everyone that the money you when i use is just a government i use now let me play a clip for you check this out. twenty pound note that you're talking about is an iou from the central bank. that's where the famous promise to pay inscription comes from to day what's known as or paper money a twenty pound note is worth twenty pounds precisely because everybody believes
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that it will be accepted as a means of payment both today and in the future and for everyone to believe that it is important that the money maintains its value over time and it's difficult to counterfeit. what how can that be a tell me steve. well and since then it's the normal state of money this is the strange thing people believe that money is a goal is money that's a very common belief around the world or that there is something physical backing the money we use the reality has been that except when we have been periods of serious social breakdown when there wasn't a government to back a car and seen the standard practice for most of humanity's history and three four thousand years has been that money is a promise to pay an iou from one party that other parties accept that probably normally being the government so it's a common situation that you from the north already whose status is recognized by the entire community to community with which you deal is money and all the bank of england deciding is that's the reality thought from it's
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a bit too central banks have been trying to get economists to realise this for the last forty years. david let me play you another clip quickly now this is from an earlier boom bust where edward harris and i discussed the bank of england guy promise to pay the bearer a quote on the bank's money take a look. now check this out on a ten pound note written right under the bank of england in big letters that reads i promise to pay the bearer on demand the sum of ten pounds ok ed if i was to write you an iou on a piece of paper i'd like just now if i got me pizza or something i would probably scribble down in the same exact words just to make it sound legitimate what is it actually i mean this is the scary thing for people with in terms of going away from the gold standard is something that's connected to it because basically. there's no intrinsic value you can think of it as a token almost says you have money is just a government i or you or a token what's to stop governments from just spending to their heart's content on
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anything they want to buy or starting wars or taking over other countries by printing ious. well i mean this is happened in history and there is wise and the thing that that stops governments doing that when you look at international trade is that the currency is only accepted within their own borders if they push the envelope. in their capacity to create that money then of course that has consequences in the value of its money with respect to other current cities and if they really go far too far then yes they can generate inflation as well but very very rarely is that done by governments the main culprit the much money to be created within the boundaries of a national financial system has been the private banks because it isn't just the government in crisis money this is the main message of the bank of england. video and the type of that accompanies it even though it's in the money there are two ways that it can create it one by the government which tends to be responsible most
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. and sickly by the commercial banks which tend to be irresponsible to go there. from a previous process when they were there sponsible the last time so as the bank itself says not you seven percent of the money in circulation is created by the commercial banks only three percent of this provided by the government. so what's the real issue with government spending if it's not about the government running out of money and defaulting basically isn't ability to form of government to officially corral resources by using citizens. yeah they see it's if they can go too far in terms of its physical productive capacity even a colony but they don't normally do that they were there often little thought to pull out of the bounds of what the got a country actually needs because unfortunately conventional economists believe this myth that the scent bank of a good is trying to get rid of holes the money is not an iou year they believe it's effectively a some sort of commodity and what they've been conventional about economists is
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that a government should not run a deficit government should always be running the services or the least a balanced budget the reality is it's like a bank that every year leans less money or takes more money out of circulation and it puts into circulation because fundamentally the way the government acts with respect to the physical economy is a bit like a bank if you have a growth and what with the economy you actually need more money to support their rights and the commercial banks provided the government can as well by running a deficit but by focusing obsessing about this vision of money as a commodity and not money it is a promise to ignore the fact the banks the banks are one of two forms that can create money the government's the other and often by the government and constraining us on spending it leads to people going and borrowing money from the private banks and encourages the profit banks still in thought to much money and they're the real culprits of that in every major process with that it hasn't been the government creating money for us the process it's going to commercial banks
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doing it and funding ponzi schemes and steve are you afraid that having this system of pay out money without constraints will lead if not to excessive government are you creation then to excessive private bank credit creation. well another did pretty good what i'm worried about is that we're always going to have profit banks wanted to lend more money than the system that actually needs for the simple reason that the more that private banks which is the very they create the money the more debt they create the more profit they can make so the real danger is that it is not the government's the hevia which is known to be an incredibly diverse strain for most of us of the history of. governments it's the behavior of the commercial banks which by the by the say it money ability being there and by you and me except being somebody transferring a deposit their money from their accounts and your count the fact that the commercial banks didn't create money by creating the lions gives them an outlook
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they had as much as they still like doing it limited by their profitability they're limited by their the capital they have to back their their lines which they can lose when somebody he's learned is bad but they are actually capable of creating sambal money in the system needs when they finance asset bubbles like the sub for on all the dot com needs before that and so on so the danger is what the commercial banks share and we can only really focus on that danger and control it if we had knowledge where the bank of england is acknowledging that money is of are you it's not a commodity. has it what about the banks the bank of england says that banks create money and here's a clip of it here check this out. it's great additional brought money whenever they make a loan and while this is nothing new and sometimes the main way in which money is created it runs contrary to the view sometimes put forward the banks can only lend out deposits they already have if i loans create
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a pause it's not the other way around so do banks lend deposits. you know this is this is the incredibly frustrating thing for somebody who's standing on the outside of my ancient economics trying to convince. students in the rest of the world and and mainstream economists the banks don't lend out deposits because if you if you if you have a look at the how that the banks function they've got assets and liabilities and the hose and saw that there are lot of deliveries they can transfer the imagine if you went to your bank and you knew you had ten thousand dollars there and you get there and you find it only got one thousand dollars during up the bank a sort of terribly sort of let no one thousand it was you were there somebody else that never happened but that's the conventional vision of what's going on what in fact happened somebody else wants a loan from the bank the bank says not a k. is nine thousand dollars which we put in your deposit account and on our asset side of the ledger we recall the non thousand all the debt you are twice and that means that they increase the amount of money in circulation without affecting your
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deposits at all in fact they increase the bulk of the odds it's in the economy by making that line. that was a macro economist professor steve keen. time now for a very quick break but stick around because when i return we're bringing you the best of the best from this past week plus edward harrison and i are tackling your viewer feedback or as we'd like to call it we can be a crude interest pat. but as we had to a quick break here are a look at some of your closing numbers of the bell please stick around. quite often countries rich in natural resources are the poorest africa's
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a colony it's a colony of the big corporations it's a calling of someone's home leaders who are under the thumbs of the big corporations so they have to beg from the world bank's development of social programs goes to pay back debts countries whose were drowning under the amount of debt that they did and so every year they would borrow money. and they would use that same a bit of money to pay back o. bits. and all that money really held. the wages of debt. i'd love to see some polling done in the western european countries on a bailout package for ukraine at this point in time i don't think you would like to see the results i don't think washington would like to see good results.
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live live live. live a little live . live. top rules in effect that means you can jump in anytime you want. a little. you know she did leverage or kirby was able to build the world's most sophisticated robot which doesn't give a darn about anything to mission to teach creation why you should care about humans
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. this is why you should care only on the r.-g. dot com. it's friday and that means it's time for our best of the best segment now first up is david titus on why he's still bearish on u.s. equities after the run up in shares hint there's a little to do with austrian economics then we've got catherine austin fits giving us her take on how the shift to a networked world has been financed by america's leadership it's not about shifting capital into a middle class household you won't want to miss that plus we've got internet retailer c.e.o. the big c.e.o. patrick byrne on why his company overstock dot com was the first major online retailer to accept his payment and we rounded all out with kate long who tells us that an inverted yield curve in puerto rico is
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a signal that investors fear it defaults in the u.s. commonwealth take a look. verifying that you used to run as a horrid time since you left now since the market lows in two thousand and nine it lost over sixty percent here's the question in the face of so much reflation how can one be bearish at this time. well really what i believe is that very similar to what happened ninety six to ninety nine and from zero three to zero seven essentially our policy makers have put band-aids on you know by inflating you know equity markets in this case by it and zero three to zero seven period they cut interest rates to one percent they engender the housing bubble and the market went up five straight years but then it ended very badly in zero eight what happened in zero nine to thirteen is we've got a zero interest rates and we have nobody wants to buy all our treasuries so we have
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utilized quantitative easing in the fed since greece's balance sheet by four trillion dollars and this is. that's going to and badly because i'm a believer in the austrian school of economics which really mirrors newton's law where every action there's an equal and opposite reaction or the magnets to the magnitude of the basts is dependent upon the excess was created during the prior boom and what we've done here quantitative easing is not the road to riches or argentina would have been one of the world's leaders and really their economies gone down you know nearly you know every decade for the last one hundred years experience fortunate is that the way. leadership in this country has financed the shift is basically a shifting enormous capital out of middle class households and out of the sovereign
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governments federal state local i call it the financial couldn't because i think a lot of that lutheran errand was illegal so if you come to my blog you can read a post culture nature could entire have an online book called dylan reading the aristocracy of star profits i think they they believed if they didn't globalize. ultimately america would be left behind and so they basically in this happened in europe today when they looked at their balance sheet and said you know we're not going to finance retirements we're going to take all the retirement capital and and instead build forward and that is unfortunately for the american middle class what is happened if you're in the american middle class you know what you need to do is look at the shift and say ok there is opportunity in this shift i need to let go of the past and i need to trying and shift with the opportunity to coin a currency because many argue that it is not. well a currency is something that is both a store of value in a medium of exchange bitcoin is absolutely a medium of exchange
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a great medium of exchange is of the store value i don't have any opinion on the long term value of bitcoin but i do there are those who say it lacks intrinsic value and to them i would say no they're really missing something it's it's such a better mousetrap when it comes to being a medium of exchange it is so much a better mousetrap that that does provide it in some sense of intrinsic value it's a better mousetrap now what that value is and such no one can say at the moment but it's really really don't have an opinion as bitcoin going to go up or down or sideways but i do know that it is limited in people like myself people like i know that you have kaiser and jim rogers and people like us like goal and the reason we like gold is not fetishistic lee which is how the keynesians with the keynesian takes accuser is a feeling about gold it's not fetishistic it's the fact that gold is limited in supply will bitcoin shares that same virtue it's
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a limited not by how much gold there is in the world but by the laws of mathematics and because it is limited i think it's probably a better long run bet and. why the yield curve in puerto rico inverted what does that tell you. so you wouldn't it's been in the municipal market for decades said to me once the. smell is worse the closer to the. why there's there was a little more graphic the way it was. the idea is that the closer you are of maturity of a bond there's more risk that the principle would be blown up and the longer out of the yield curve. curve it is the more time you would have to recover your principal and make up the interest payments some kind of default would incur so it's just a risk it's a function of risk when bonds get really risky and potentially explosive that the
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yield curve inverts like that on credit on bonds that are rated. that was boom bust the best of the best from this past week time now to see what interest we've accrued for you this week. it's time now for a segment we'd like to call a prudent interest with the wonderful edward harrison thank you for being here as always now it's friday which means we put you the viewer into the driver seat letting you steer the show with your questions comments and concerns all sent to us throughout the week via twitter you tube and facebook so let's dive right in our first comment comes from michael d. who writes quote to investing in bitcoin is a joke there will come a day when every other basement teenager creates a new latest greatest crypto currency for their generation because nobody likes slurping up the leftovers of the previous generation most of all the imaginary
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currency will never have a store of value what's even more laughable is that all gold in the world of warcraft is probably worth more than all the big points combined nobody is running around trying to sell off into gold nor is. it listed on the stock exchange l.o.l. i'm a little confused as to what do you think of this not so bullish on big coin it seems like not at all we know it was interesting actually when we were talking to burn i don't know if it was in that clip that you put but at one point he. gets the bit coy he trends that into yeah and i thought that was a really important point because basically the way that he has an on time retail online retail is doing he's not taking any currency so-called great risk whatsoever so basically it's a payments but for now you know one of the things that i've always been saying is that you know big corn as a payment platform has validity especially to the degree that your counterparty is
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over which in this case you would trust your read too so to the the degree. the retailers using it in that way it could be a positive i agree with that now do you think michael d. actually has a solid point i think we're coming to that conclusion that i don't think every kid is going to be in their basement making up new cryptocurrency but i do think that there is some truth to what he's saying like get out of it get back in your fear currency right away like patrick byrne does here he's talking about the parabolic move. and the fact that it looks like it could be a bubble and i think that it is a bubble and we're going to have to see things stabilize before it has any value store value i mean you're going to burn store value medium of exchange gree as a medium of exchange that's all that's going to increase over time store value it's still suspect in that level i think is government he said he's going to wait for the two point zero right. now another remark is from shannon wilbur and shannon
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writes wage growth will only inflate the consumption it is always only a short term effect however i did enjoy that you didn't say we have a minimum wage problem minimum wage is miniscule in importance to wage increase working for years on end without increase in pay has always been a problem now i would agree that working for years on end without pay is a tremendous problem what do you think. i want to hear what you think of this particular reality because you know what i've been saying over the last week or two is basically that wages are very important in terms of the overall economy because consumers drive the economy if you don't make money how are you to bust off except through accumulating debt and of course we see where that led us in the housing bubble so my feeling is is that spot on with regard to wage growth being very important i agree with that completely and actually i think it goes back to the idea of shrink question which is my new favorite financial terminal you know that we've heard that everything is shrinking down in size but
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you know the cost of staying the same which you could call wage increases or a net wage increases you could. consumer price index increasing but not really you know it's an it's an interesting way to look at it and we could talk about it for a long time but i do agree with what shannon welborn had to say i think that strong so we like those comments came up then there is this from a viewer called capitalist great handle. good work on grilling mulden thank you calculus you need to grilling her guest more because they sometimes speak in general ali generalities and also contradict themselves multan is a big boy he can take it too often the media allows guests to say whatever they want because the questions asked are soft a few hard questions are always good given the above again first and foremost thank you so much capitalist secondly ed what are your thoughts on this mold in your view and really i know that you had some aggressive so. i think it was the first time i said to myself yeah there's some serious push but. i think also on the coin thing
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you know as he was involved in the big boy he knows that he has pushed by the i think people like him who. know in their industries and who can really talk aggressively about what their beliefs are they like that they want to be pushed to the brain and your convictions are got strong you should be able to push to that level and then man up which he did and we respect and like him for that as always now our final comment comes from gary schultz who writes and more b.s. to make america look at michigan state sales tax is just it's just that a state sales tax there is no requirement or even a reasonable expectation that any of the money collected should be sent back to turn around their thirty second thoughts and i think it's ridiculous. in the michigan has an agreement with the states with the municipalities and the cities that they're going to give the money they didn't do it in the in their promise in the simple development ed thank you as always that's all the time for now but you
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can see all segments featured in today's show on you tube you tube you tube dot com slash mumbai started a slowdown now. we also love hearing from is a phrase check out our facebook page at facebook dot com slash going by starting can also tweet us at aaron ate at edward any from all of us here from buzz thanks for watching the next time but i. was a budget weekend. big news for players the jets or the tax on profits to. go this would be jump on john gruber drawers too little ducks quack quack it comes to herbie.
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isolated incidents all international president. session enables crimea's do has the right to see is it a question of international law all military minds. we
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wanted to create a realistic model that would represent life that would depicts a lawyer does it really is. there's an accident known group six. what some people wonderful them is the whole thing is a model. for. the elite.
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there's now no more. nuance a story. dramas that's trying to be ignored. in the. stories others to refuse to notice. faces change the world lights never. grow. old picture of today's news no longer for drugs to blow.
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up please. songs are converging on madrid from all across spain as people plagued by unemployment and austerity is trying to make their voices heard. let's talk unify works celebrate you will you know why me and russia but the joy they be overshadowed from many families explore the fate of crimean soldiers serving in the brain. and also in the news british academics say the government is making them on down illegal immigrants among students and warned their reputation is a tryst. this
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is an international coming to life from moscow and a very warm welcome to the program in spain the so-called march of dignity has seen fountains of the protesters from different regions or walking hundreds of kilometers to the capital madrid many say the physical exhaustion is nothing compared to the strain placed on the by continued mass unemployment and ongoing spending cuts our correspondent he orcus kind of has been walking with them. they've been walking by foot since the ninth of march covering the hundreds of kilometers coming from different towns and villages across spain. in the rain under the sun and now. they're entering the final stretch before their final destination the spanish capital of my trip but let's find out what drove some of these people to take part in this march and to walk so many kilometers
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a little sir why are you here. why am i here i'm sick of this government with all the promises they never fulfilled when they said they were going to create more jobs and lower the taxes but it's a lie instead unemployment rolls from four to six million this is the only way we can fight back and then they left my home last on them and have been walking sims then we are united i need better health care education and more autonomy even quite similar to what cause you to take part in this march. serax too many reasons my sons have to work every day from eight in the morning to five in the evening only for four hundred us been months and also i'm a teacher and i know what cuts in the public sector mean all these addictions this is insane i'm marching to madrid because i can't walk to believe. we must stop them and the troika. all these people have different motives to take part in this march
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to walk so many kilometers which they do have one unifying them objective and earlier with met with one of the organizers of this march during a break that he took just a little bit earlier here's how he explained what they're trying to achieve over here knows what the government wants us to go back to the franco years and keep the working class from demonstrating in the streets and seen what our main problems are the problem you won't allow that to happen and they know we're here we are in madrid we came to see. this government has lied to us from the very first day of this government and the one before presented themselves with a political agenda that has never been even worse they said they'll do one thing but actually do the opposite we are fed up with all these lies but we also came to say that they have to go that we will change the system from the bottom to the top and all the workers in the streets would she have as. this is only one of the
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columns which is taking part in these marches all these days since it is advising to or should. hold sides. on saturday thousands of these people will finally meet together in central madrid to make their voices heard you got this kind of r.t. reporting from spain. a quarter of the spanish population is out of a job but one that comes to us unemployment the picture is even gloomier with over a half of young people not being able to find work and the international monetary fund has warned that the country may face five more years of a high jobless rate unless more forms are not acted we are of course closely following the march for dignity on our international he can offer is in madrid waiting for the crowds to gather that later today. less than a week after voting to carve itself away from ukraine crimea has now officially become part of russia ukrainian forces stationed and they have been offered the
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chance to take russian citizenship and join the local military or leave but for those crimean serving in ukraine it's looking like a struggle for them to return home as are his policy of reports. a lot of attention has been placed on those ukrainian soldiers who are serving in crimea but very little attention being placed on those crimean soldiers who are currently serving inside ukraine and now there's some three thousand crimea's who are serving in ukraine they are desperate to come home don't forget home is a different country we managed to speak to two mothers who say that they're struggling to get hold of the sons they are being told that they are being moved from post to post as you can well imagine these mothers are desperate go through every day she says to me mom they are there and they're preparing us for transfer i asked him how much longer they have to say he says they're not saying where been kept in the dark while our children are their guardian military equipment we are in
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for combat when my son calls me and tells me that they are not being sad that summarize a piece of bread and that's all food they are getting every day over here on saturday morning crimea's are waking up to a new reality one that is infused with excitement and jubilation it follows a magnificent firework display on friday night you had here in the capital city of some for apple as well in sebastopol and in moscow fireworks russian bands there were people singing along waving russian flags holding balloons it attracted people of all ages you saw fathers with their young children hoisted on their shoulders i was standing next to some young women who were crying as they watched these fireworks talking to people everybody experiencing a sense of history as indeed crimea is reunited with russia watching the one there well very happy where finally in russia at last a long time dream has come true. it's our holiday we're celebrating the unification with russia our historic model and. i think all crimea ends are
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happy we're back in russia we're only worried now for the russian speaking population in ukraine south east well this follows the signing on friday by the russian president vladimir putin of an historic agreement that was earlier ratified in the upper house of the russian parliament that sees crimea and the city of sevastopol formally becoming full members of the russian federation. it's in the ukraine is being wronged by protests against the new leadership in care with many raising the alarm over the rise of near nazi groups right now around two thousand running in the city of donetsk a local administration building crowds are chanting the name russia and some protests are demanding a referendum on a possible secession from ukraine and he has seen some of the biggest pro russian rallies with many locals refusing to recognize the new leadership in kiev and it's
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a similar scene in many other eastern regions protesters have been taking the to the streets there as well saying they're making a stand against the neo nazi leanings of the interim government a group of israeli m.p.'s have written an open letter to the president of the european commission saying druze in ukraine are suffering from constant attacks it's claimed this is a direct result of the rise of nationalist thinking of x. who is from ukraine's church community have also traveled to israel to seek support but. i think that the new sources in kiev are unpredictable and they are definitely a menace to the jewish community they're passing laws which limit the national minorities russians and jews are considered to be diasporas and inferior to ukrainian i've been living in fear for the past several years as this nationalist movement has been gaining steam. especially the older war generation they feel helpless because our values are incompatible with this ideology. and here's what
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was drawn on one of ukraine synagogues last month after a local rabbi discovered these swastikas accompanied by a violent and systematic slogan on his doors he decided to pack up and leave his old r.t. he was worried his family could be targeted we caught up with one israeli m.p. to get his perspective on the situation. in the beginning you would gangs roaming the streets yelling jews leave we remember similar events from the past and we know what it could lead to it is inside your ship and you never know where it will end it so we must be vigilant and support the jewish community we support them all your will continue now more than ever because of the chaos in ukraine the mission of the far right gaining influence in ukraine is not the main issue for european leaders who are now focused on piling more pressure on moscow over crimea the use planning to cut its reliance on russian gas after slumping further sanctions on the country
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let's not talk more on that with william mullins and a former british diplomat and professor at the greek state university he joins us now live from athens mr mallison welcome to r.c. very nice to see you here so the e.u. wants to diversify its energy resources away from russia obviously we remember that russia is that the use main gas supply a doesn't mean that brussels is planning to actually. for a long term stand off i should say against. under pressure from the united states of america a lot of the europeans are having to toe the american nato line at the moment there's a great deal of hot air because the reality is that once one starts to get this enormous technical cooperation of gas deliveries you can't just stop it overnight it would probably take about twenty years by which time a lot of other things have happened it is the second point is that there is
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a disagreement behind the scenes between countries like bugg area and even germany about how far these sanctions would go because a lot of the important economic sectors in some european countries actually are beginning to depend especially in the energy sector on their cooperation with russia so i think it's more a question of hurt political egos because of the complete success of what russia has done and europe continues to threats or russia with more and severe sanctions and not just against individuals but against its economy. what do you make of that threat. it's again it's pure hot air it's going back to cold war rhetoric the threats are surprisingly unspecific actually i know that a lot of large companies do not agree with these threats including boeing for example from the united states including chevron so again it's shit hot air let me
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say also that when catherine the great lead a blockade against britain. in the eighty and in the eighteenth century has helped britain very much to become more self-sufficient and introduced the industrial revolution so even if they were to exaggerate and try to cut off as much economic cooperation as possible that in the long run well that would not immediate and would probably help russia. do to become even more independent economically than it already is not to mention a break and or the possibility of russia increasing its economic cooperation with those countries brazil india etc so again there's a lot of political hot air in this behind the scenes things are very different particularly with germany which is probably in the most sensitive position of all this having to make sort of bland statements going along with all of the americans want but is probably negotiating diplomatically with the mall with the russians
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and others and a stress right by the way as we speak now the leader of ukraine is a radical. right sex a group has applied to run for the presidency do you think this is the reason to make a set. i do not see how he can possibly win such an election unless it is completely engineered our last south american banana republic by bub bub bub by the americans. i just don't see it happening they'll be a lot of terror again i think to upset the very nice jewish community very much indeed as well and. you know they'll be a huge amount of opposition to that so i just don't see it happening i think again is just harder streamers them the sad thing about this is that such people have so far been supported by by vote by the united states of america and to the lesser
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extent by and by the europeans all the europeans are a bit embarrassed about it and i don't think they get formulated to serious policy by these extremist parties because if they were doing the things in their countries that they are doing in ukraine they would not be allowed to exist in these european countries so this is enormously progress you know with your progress william mallinson forward as if i'm a professor at the greek state university and mr mallison thank you very much indeed for sharing your views with us we appreciate it washington is standing by ukraine's former opposition after supporting his rise to power and while the upheaval has been hailed as a victory for democracy crimea is word of self-determination is being dismissed as in nickel and he's a citric and looks at how the u.s. backed regime change was. exporting chaos and to the world promoter of the right to self-determination and other high principles the us we are long as the days when the international community will stand quietly by while one country
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forcibly seizes the territory over another and incidentally behind this noble statement is the number one med learn internal affairs of other nations an example of what is known as the arab spring is. said of destruction achieving political purposes throw having full fire this throwing them fed the country that coined the term regime change promoting unrest wherever on the globe serves its interests latin america has been a major target of the us over the years and. we have examples of outside intrusion and the internal politics of states like mexico guatemala panama nicaragua haiti dominican republic and grenada repeated attempts of a coup in venezuela argentina brazil ecuador and believing there was no coup in the one hundred fifty year old history of latin america that the u.s. government did not apply its hand to. coincidentally u.s.
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participation in events in ukraine did not begin or end in distributing snacks or friendly gestures of support i've invested over five billion dollars to assist ukraine in knees and other goals that will ensure a secure and prosperous and democratic train the west spent five billion dollars the stabilizing ukraine this is something that is a a mess that is foot on russia's doorstep by the west the fourteenth of protest turned into chaos russia proposed that ukraine work with both the e.u. and russia the u.s. had another idea wanting to see ukraine as part of its ally the e.u. read to eventually find its way into nato there is no other path that would bring ukraine back to longer. political stability and economic growth a popular joke among american leaders why will there never be a coup in the u.s. because there is no u.s. embassy in washington freedom sovereignty and international law are all terms
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repeated like a mantra by u.s. officials but with a handful of examples of the us attempting to property or other parts of the world the joke is not so far from reality as they see churkin our party washington d.c. . and i'm christiane amanpour has called out russian officials in particular its envoy to the u.n. batali churkin blasting him full of refusing to give comments and being afraid of tough question. people like churkin feel they don't really have to leave their comfort zone show kins own daughter is the u.s. based reporter for russia today in new york she's shown here quizzing u.s. state department spokesman jim psaki over this whole ukraine crisis and in the poem she's even reported on her own father. the russian ambassador has already issued his response to the criticism highlighting that ms on one polls on curacao many legs and also saying he's used to tough questions and accusations haven't been
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consistently speaking out of the security council forget is had to alter your conference. so i have for you and i'll say international while british high schools are widening their horizons students are being exposed to trick to surveillance. we are trained dog and we have a passion to be lecturers to be involved in teaching support we are not border agents. but the u.k. government seems to be the education process is a bit different let you stay with us to find out which home office policy is outraging the british academic elite the break. from countries rich in natural resources are the poorest africa's a colony it's a colony of the big corporations it's a colony of someone's home leaders who are under the thumbs of the big corporations
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so they have to beg from the world bank development of social programs goes to pay back debts all countries who are drowning under the amount of debt that they should and so every year they would borrow money. and they would use that same event of money to pay back over there. and all that money really. the wages of debt. economic down in the final. day. and the rest because i. believe every.
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international is good to how do you weigh those classrooms are space for open dialogue and no check points that's what some one hundred sixty electress from the u.k.'s most renowned universities are trying to make clear to the government in an open letter published in the guardian newspaper they say they're being forced to share their students' immigration records would be home office pointed boyko went to talk to the academics who've spoken out against the policy. the british government wants to stop student visas being abused but the way that the border force is going about it has rubbed a number of universities up the wrong way over one hundred sixty academics from universities such as oxford and warrick have written a letter to the guardian newspaper saying that they are under increasing pressure to check the immigration details of their students well to talk about this in more
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detail i'm joined by one of the signatories of that letter professor desert friedman from goldsmiths university of london professor friedman thank you very much for joining us tell me what is it that u.k. visas and immigration are forcing universities and professors like yourself to do they want stringent monetary requirements on international students and we feel this is just simply discriminate sharee we feel that it's not really part of our jobs we are trained up and we have a passion to be lecturers all to be involved in teaching support we are not border agents but it's no secret that getting a student visa was in a tory asli easy way for someone who had absolutely no intention of studying to obtain a visa to come to the u.k. what's wrong with the u.k. border agency checking that students really are studying if they really do want to clamp down on the abuses where they do take place that has to be in those countries where the visas are schooled are not to try to get academics or support staff to do
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jobs which they are not trained and have very little interest in doing in the one hand we've got this reduction of immigration to the u.k. that the government says it wants to achieve the other hand you've had slashed budgets for universities and an increase in tuition fees so where does that leave universities right now universities are dependent increasingly on the income of international students and in their own self preservation you would think they would be lobbying incredibly hard inside government to say that this is on except to go and discriminate for me this should be a pastoral relationship. i do not want to treat my international student any differently from my home student professor friedman thank you very much for your comments while the home office whose job it is to check that foreigners are in the u.k. legally they've defended the reforms they say that the process is now more robust and less open to abuse reporting from london i'm poly boy. and what our team has lined up for you on our website are stories that include elaborate ways to
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avoid the n.s.a.'s all seeing i was about to launch and pounced encryption technology to make it even mail service and have been proved i had to r.t. dot com for more details. and my reply and pullout of u.s. troops from afghanistan washington keeps pumping billions of cash into the country's reconstruction but the time spares money appears to be flowing into the wrong hands for more now the corruption has been exposed log on to our website. and we before local elections the turkish prime minister has vowed to why about twitter as a method of avoiding further threats but the social network has exploded in response the number of tweets from turkey reportedly rose one hundred thirty eight percent within hours as users found is a ways to bypass the by. blast of the move with a mocking pictures protesters say by attacking social science authorities are
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simply trying to sweep corruption scandals under the carpet only as a key way of the pan african news wire believes it's only going to leave a big aftertaste. it's connected with the upcoming elections both local and national what then turkey of course there's been a huge amount of attention surrounding a corruption scandal involving prime minister erdogan and then of course there has been the response from many people of course who are concerned about this even people within the turkish government itself or even our president abdullah or cool . reportedly had tweeted himself distancing himself from the prime minister so i think it's a combination of factors that a political but i think it's in the long term that's going to backfire on the other don in the party that is quite interesting when we have these types of undemocratic
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actions and proclamations coming out of countries that have good relations with the united states or you don't get the kind of response that you would see in other countries for example the restrictions that have been placed in syria or in the republic of sudan or in zimbabwe or even in washington in terms of the recent developments surrounding ukraine in crimea. more international news stories in brief for you now israeli forces have killed three palestinians in a gunfight in the occupied west bank the incident happened during a raid on the house of a fugitive hamas member wanted by israel for his alleged involvement in terror acts honks hamas supporters carried the bodies that carried the bodies through the streets shouting slogans against the palestinian president is involved in a glass and broke its peace talks with israel tensions are currently running high ahead of april's deadline to set a framework to advance already faltering negotiations.
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around the supporters of the far right party go to the one stage the only hold of the we spoke greek protesters chanted slogans against the prime minister and state controlled media the launch comes ahead of upcoming local elections in may greece's government has recently run down on the rising right chanting the openly fascist golden door policy which was connected to the killing of an anti right away in a robbery in the past. coming up next the bread basket of the world why are its regional economies faltering international in the focus is on africa but if you're watching us from the u.k. prepared to break this out with i mean.
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i don't want to beat a dead horse i try to bridge these opinion pieces but you created melt out hits really close to my heart and affects people i know when i see obama gleefully talking to new ukrainian prime minister just burns the inside of my brain he's throwing hypocrisy gasoline on my fire of contempt not only to delete phone call from the story defense minister claim that the kiev opposition. against both sides but now the former ukrainian chief of security confirmed that the sniper fire came from a building under the control of the protesters at that time also the alliance currently in power in kiev glorified hot seat germany and you slogans like putting jews and russians who the knife so america's first black president a nobel peace prize winner who was elected by waves of tolerance optimistic lefty liberals is smiling and chatting with a leader who is supported by white power right winger groups that use the murder of their own members to oust a democratically elected government there william nightmare is not my friends but that's just my opinion.
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you budget week. big news from the players the chancellor of the tax on bank of profits to ten percent in being the lingo this would be jumping jack tripper drawers to little ducks crackback it comes to herbie. dependent on the world bank and the international monetary fund africa finds itself crippled by foreign debt and remains a continent of great poverty and inequality is. as long as we are in thrall to and dominated by debt i've even go so far as to say in slave today there is no attention paid to social affairs like health and education can you imagine we have
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to sacrifice congolese children who have to die who cannot study because they have to pay for the debt. and the international community talks about generosity you know they are talking about cancelling the debt as an act of generosity by controlling the country's resources. that date debt is used to keep countries with natural resources under control. it is used to control countries in the southern hemisphere both politically and economically. today we've got less than five percent of the world's population living in the
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united states consuming almost thirty percent of the resources and roughly half the world is living in poverty close to starvation are actually starving that's a failure it's not a model it's not something that can be replicated in africa or india or latin america so it's a failed system we know that it's a failed system. like the world bank and the international monetary fund play a crucial role in the entire history of the debt crisis the fact that these two situations created in nineteen forty four began to lend on a large scale developing countries in the sixty's. they had actually started in the fifty's. the real surge in loans explores in the sixty's. the roles of the i.m.f. and the world bank have changed radically since then it's all driven both institutions have become instruments of oppression. and control over new sovereign
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countries in the immense hemisphere. the most typical way that economic hitman work is it will identify a country that has resources our corporations covet like oil for example and then arrange a huge loan to that country. from the world bank or one of its sisters. doesn't actually go to the country and goes to our own. in the democratic republic of congo is the most powerful down in africa. one of the best examples the workings of the system since it was built one problem after another. represents the most emblematic of what we call the. monstrous realisations that have only increased the country's foreign debt with objectives that have nothing to do with human or economic development but. today the congolese people have to pay for
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a station which was not built for them but to supply energy to. two kilometers away . what i find appalling is the complicity of the multinationals of certain countries of businessmen and even of scientists who proposed this giant machine. but today we have reached a situation where we have to pay back the debt without necessarily having access to electricity. but the main problem that we face when we have financial institutions like the world bank or the international monetary fund when we debated the construction of the dam these institutions knew that we weren't going to use all the electricity nevertheless we were made to build this stand because it suited the big multinationals today it is the congolese people the little people who pay. for me this status odious we should repudiate it and we should even ask for compensation from all of these companies who brought us equipment that didn't work
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. ingo is an example of something that has not worked but it's also an example of an investment that can work you've mentioned in those three and for our interest in seeing that the existing investments in our actually used to generate electricity for the people. ultimately over time maybe this in future ingo can provide electricity elsewhere but we're not there yet right now the priority is getting to work. he did today was to link to the cut down. there bypassing electricity through a high tension line which flies over most of the country have to. be so katanga could be financed at any time by cutting the interrupt in the lower congo. we want an actress of the you know village after all it is ours. instead of the
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foreign countries are using it. and we who own the power find ourselves in darkness . what is happening is that angola south africa and what's wanna be the authorities with currencies well the people of lower congas feel less interest. in this village like in all other villages the main difficulty is the electricity supply. and as the dam also has its own problems it cannot supply electricity in the entire public republic and more particularly in the capital kinshasa which experiences major problems with regard to energy supply. and as you can see we find wooden post says they are their defeat and lines which literally cross the rooftops of houses. with this situation we risk having problems with electrocution even
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house fires. in a village near. we witnessed an incident which could have had dramatic consequences . everyone knows that electricity contributes to development of well but when there are no roads we need them so you can transform farming produce electricity would allow us to conserve and packaged goods but what is happening today i vaguely. think is it if we had electricity we could save our forests today we destroy them for firewood so we lose out twice we are in debt debt has its consequences now the forest is being destroyed instead of being able to use electricity we are destroying our forests. the forests of the congo basin cover an area of over one
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hundred seventy two million excess. in a widespread context of corruption and poor governance despite a moratorium on the forest code imposed by the world bank in two thousand and two attempts to reform that would industry have not yet met with any success in the democratic republic of congo and are endangering the planet second. some seventy percent of the world's poor people live in the countryside and depend completely on the eco system. houses them and takes care of them
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and. when the world bank finances projects that destroy the. quality of life and even the livelihood and survival of local populations. without permission we decided to try our luck at the steelworks. threatening to call for the intervention of a minister we were allowed to visit this immense empty factory. cities in this factory was built to use and consume electricity from the nga. yet we knew very well that when they were building this factory the raw material they were going to use was scrap iron and rusty iron gathered in europe which is unacceptable given what we know the country's potential in terms of minerals is. in effect the situation is ridiculous underground in. the
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minerals of dug up to be exported eight thousand kilometers away and smelted. then used to make steel in the northern countries to make vehicles the machines and when these vehicles are machines end up on the scrap heap they are compacted and shipped in a boat in the congo. which causes the river to rise if you were to made on the on the food this scrap metal is then melted in to create refined steel. it's completely ridiculous to assume they'll. never work. it was money down the drain just a waste but not for the multinationals which one yet to meet in a small time national sold their technology it is the congolese people who are losing out today. and all the wealth is being controlled because of this debt.
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i don't know what is the reasoning of the heads of the world bank and the i.m.f. . this is what they say we will make these developing countries used to the funding we provide them for the development and for the daily management of the business. of just if we make them reliance on this funding if you know we vary by obtain a means of influencing them and fixating the certain type of policy pretty thick. when robert mcnamara to covert at the world bank he wanted to do something grandiose. he began by boring on the markets in order to be able to lend more he flew home and sell loans in the south where some countries and me to they were completely incapable of keeping them back. save so it's some
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point we can all make it mean go back and we say listen you know since you can't pay your debts give us a pound of flesh sell your oil real cheap to our oil companies or vote with us on the next united nations both it's critical to our to our policies or allow us to build a military base on your soil things like that and in the few times when we fail when we're unable to corrupt presidents to get them to accept these loans when we fail then the jackal's going on and they either overthrow governments or assassinate their leaders both rolled oats of ecuador and to rehearse of panama were assassinated because i was unable to corrupt them i couldn't get them to accept these conditions. he didn't see. who condemned the world bank the i.m.f. the exam lenders in general is a clear example. there was a coalition of interests against him by the great powers governments pre-sold.
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companies and international institutions. are the key who gave the order to assassinate. in the assassination plot that i don't know but what is clear is that those who assassinated him knew that they did it to defend certain interests in these interests there was the interest of lenders that's for sure most of. isolated incidents or international president. session enabled crimea's do has the right to see is it a question of international law all military moms. lumen
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children continues in the link to the close women news is working with martin luther king said i have a dream about nice to have a drawn. drones have not caused a huge number of civilian casualties. for the most part they have been very precise the second strikes against. this small body on the ground is a little girl and just next to her is a little boy of eight. we do some of her service. which all the committees. the one that i can confirm that we are operating in. afghanistan is the only other country like. afghanistan still country.
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please. please. please. please. please. please. please please please please please. i listened.
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that's on top of all this is the context of the cold war when western countries strongly prodded these countries to become indebted to keep them in their place. if it was very difficult for instance to stop backing mobutu. even if we try to. given the geo political balance of the time we couldn't take the risk that a country so rich in mineral resources as a year could move to the wrong side. to nepal that the whole problem with that is not its absolute level. home to see their ability of country to paid back and with what means this. while structural adjustment programs are aimed at supplying capital to pay this
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debt. in reality we are reducing their ability of these countries to achieve any economic success. that is the most what is structurally adjustment. it is really the awareness of the fact that these countries were put in a complete deadlock. that is to say that these countries were in debt but and had an incapacity to continue to function which led to them taking quite drastic and radical measures. with the structural adjustments the following diagnosis was made with your economies acknowledge the deficits and these deficits have to be paid to pay these deficits with cuts in the public spending were necessary. expenses hits were social expenses unfortunately. in doing that we cut spending including social spending and that obviously had
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a negative effect on health education and social housing report obviously. suppressed it also this took place at a time when natur was in power in the u.k. and reagan in the us. it was really the law of the markets. and so the economists of the i.m.f. and the world bank and in a lot of other countries even bilateral cooperation said allow real prices to rule and all problems will be solved. i think that by doing that we did a lot of harm mainly because we didn't know ways to understand the economic policy of these countries. once the structural adjustments were imposed by creditors namely the world bank and
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the i.m.f. it was like hell on earth here. at the hospital everything had become. consultations you have to pay to see the doctor to get more syringe is more alcohol. i mean it was hell people often died from curable diseases. and people in poor health who have no access to health care makes development impossible. you know you can't concentrate on development in those conditions at times it makes you sick and revolts you because it is unacceptable and unbearable that's injustice in the world but the death of congo fourteen billion dollars. what does that represent as of two thousand and ten the total of the developing countries public debt is in the region of one point three five trillion dollars. and the us foreign and
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domestic debt is thirteen trillion which is ten times more. we should these countries continue to pay millions of dollars the president of the republican the government have said that it takes fifty million dollars every month to service its debt how much gets spent on health and education every month the answer is zilch. teaches in primary schools badly paid and underpaid. the teacher comes to school with little biscuits that she gives out to children who should pay them back. so already from the first year of school children are taught how to get in debt we. give to children and after three days children have two. parents for money it's like an international
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institution if you miss the deadline the child is forced to pay double the price think if it sometimes this makes the child afraid to come to school. today with the system of parent the child who doesn't pay. before at times these economic policies have been conducted for reasons of budgetary adjustment you know we could no longer finance a certain number of public services and therefore we still means a financing them through privatization. but the people who control the privatizations were people who came from the outside or people well connected in the end and that did not produce very favorable results for people who were low down on the social ladder was. one of the examples of the i.m.f. smoke brutal policies of privatization is. pretty but the test of the false promise all of the national transport office and private entrepreneurs who took
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over the national office. work according to the principle of private entrepreneurs which is completely normal. you'll soon see so they never send a lorry on the ground which in periods of famine in niger. leads to death as a dozen the rife because of this privatization but this is. the international monetary fund applied the first program of structural adjustment in congo in one thousand nine hundred eighty six since then the i.m.f. has been there. and no progress is being made in congo i always say that it is like a sick person who goes to the doctor the chemist they're all there the laboratory assistance they do the tests they prescribe medicine and the sick person stay sick forever what should actually happen is that the doctor should resign and thats it. what is the role of the i.m.f.
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if it doesn't prevent crises what is the role of the world bank this bank which is supposed a development. if it be the i.m.f. kills the world bank kills by blindly of course not intentionally but by its dogmatic and here to the washington consensus which is completely brutal. in poor countries people from africa as a colony it's a colony of the big corporations it's a colony of someone's home leaders who are under the thumbs of the big corporations so in a way the european empires marched out and supposedly gave africa its independence but immediately the corporations marched in and a few handpicked leaders handpicked by the european nations and the courts and the corporations took over many of the countries especially the countries with good resources.
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for thirty years all african and latin american economies have been or unstated towards we don't reimbursing this debt and this is completely shattered their economies in other words the ones that we have specialized in farming which represents eighty percent of the economy in countries like mali products such as cotton cocoa for export to west african countries. behind that is the neglect of food production and the exposure of these countries to famines and malnutrition and it's no coincidence that today if eighty percent of the world's population who are dying of hunger in fact farmers don't exactly. agriculture with its current production rates could easily feed twelve billion human beings which is almost double the world's population in other words. cannibal world is that
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dictatorship of globalized financial capital has imposed on this planet is both murderous but at the same time. it is a figure speak for themselves i could take. victims of polluted water etc you. see they are asking us today to produce more products for export to make more money especially to pay back the debt so they force us to produce palm oil they ask us to produce coffee at the time of structural adjustment it was coffee palm oil cut while people had to. ask the d r c as you have diamonds you have gold gold. would you can sell and buy products which may come from china or europe the chicken that comes from europe the chicken that comes from france do will key which come from
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the belgian avatars or from argentina the new one and we don't need them because we can raise our own i assure you that in this country when you have planted maize for months afterwards you already have the product yeah as for rice there are regions where we produce rice even here here where we are we produce rice but as for meat we have the plateaus and. today places like the plateau of are used for mining exploitation and today we import meat chicken awful we import more than one hundred forty thousand tons of meat an awful and chickens so all that is really a policy of submission a policy of dependence but we can grow everything here everything. in terms of the market fish frozen chicken. tomatoes even onions everything is
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imported rice because there is no local production they used to be in these countries we used to have big rice paddy fields we grew it in these countries but everything that we produce you know has to be exported especially wood and petrol for the most part this is why you don't farm land to feed people just they have imposed a policy of zero cultivation in particular that is to say that here is given to increase today where even trying to substitute menu for bread in order to make weak imports more profitable because money is made locally so fortunately people hold onto their money orc their only productions that still exists are small family productions all the farms that were built during the eighty's to produce for the country and to make the country self-sufficient where destroyed. the world bank has insisted that everyone plant food for export. that's all right if it is one two or three countries but when the red dozen or more countries which make the
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same thing. and in the same quality. coffee cotton metals etc that's an acceptable proof if there is too much supply on the market that brings prices down. because this is led to a reduction in their incomes since their income comes from exports because they're told to do so and agree to do it you could do. it in bill is a perfect example of this for export eighty here where we are held out the cross-check that demand that the market exist that it only had to be produced and must exist. and what do they find better to tell us today well we're incapable of feeding ourselves a group of google. because it answer is to turn towards biofuels while biofuels feel lower stomachs or will we have to field reserve wires to pollute more i don't know if you mean right now where is selling agricultural land because.
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i'd love to see some polling done in the western european countries on a bailout package for ukraine at this point in time i don't think here i would like to see the results i don't think washington would like to see good results. i marinate join me. in that impartial and financial reporting commentary interviews and much much. only on going bust and only. eat.
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meat. and there now no more can. say sorry.
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world. science technology innovation is developments from around russia we've got the future covered. economic sounds in the final. day. and the rest of life makes you believe every week told. her little. good lumber jury. was to build a lead most sophisticated robot which certainly doesn't give a darn about anything mission to teach me why you should care about human to.
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this is why you should care only. spain is plagued by unemployment understand which has travelled to make their voices. heard in the file what's to celebrate the new no crimea and russia or the job may be overshadowed when many families would spill the fate of crimean soldiers citing a new break. and also ending is a british academics say the government is making them come down and swung students and warned that.

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