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tv   News  RT  March 22, 2018 10:00pm-10:31pm EDT

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to a former government well he was somebody and he said that he welcomes them all he doesn't see them as so we're going to cover that over the next few days and they say oh the ninety five billion and they want the fall thing on there there's more solid to the territory incurred this debt willingly. has always been a debt toxic debt dump where wall street dumps you know and this is the story when you have a memphis fire like the u.s. and they picked out all the european countries and latin american countries were to take them puerto rico you know it's completely asymmetric warfare they dumped dead here and people say well we'll take the money i mean why would you say no to money and then they come calling for the interest payments of like oh no we've got to default then they say well we're going to come in with austerity measures and take over all your basic services and privatized and then maria hit and said. that's right we're in hurricane alley deal with that wall street well so so max i mean the
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thing is that what let's talk about why they are so in debt because it is different between ireland between greece between here ireland went bust because of those banks the golden circle of bankers who lent each other money and it was all basically private debt owned by a bank without even any retail deposits and the european union the e.c.b. forced the irish people to basically bail out this private bank in greece yes they did borrow so much money and that was because of the e.c.b. because of the euro zone and everybody lent money to them cheaper than it should have been you know what happened in puerto rico is that they had since one nine hundred seventeen in the jones act they had the chip exam tax bonds so tell us about that because you sold those on wall street what happened there i said it's a toxic debt dump because on wall street you can always sell a puerto rico triple tax free double be rated bond to mr or mrs shorts out along on . and for that tax free equivalents you know you say it's taxable equivalent of
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seven percent on your money dr schwartz dentist in bay city and you know you just sell those all day long it's an easy trade to do and they just load this place up with. the convenience of some convenience and now they don't pay the interest on the debt they shouldn't pay the interest on the debt they should force it back to wall street where it came from and so take your toxic debt sludge and cram it up your shrinks think is going to pay the interest on this thing because you just manufactured it in your derivatives factory has nothing to do with our economy goal go into more fungo and drop dead well they did eat a lot of mofongo debt they had a lot of debt and that part of that by the way happened. puerto rico's recession remember everybody else in the world in two thousand and eight two thousand and nine actually hit in two thousand and six here and what happened is that was the end of a ten year period set in motion from bill clinton basically every single thing in the world that has gone wrong was because of bill clinton whether it was his
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commodities futures modernization act which allowed derivatives to be traded not as bets but as actual investments whether he got rid of glass steagall and then caused all the banks to turn into gambling zones as well but he also in one thousand nine hundred six he basically over turned some tax advantages to u.s. corporations to manufacture here and most of them were in the south of the island we'll get into that how that actually impacts the electrical grid here but by two thousand and six all of the tax advantages to being here were lost and all of them literally thousands of people lost their jobs overnight and thus set in motion the death spiral well that the death spiral is being reversed thanks to innovation entrepreneurial pierce and the block change we're going to have a reverse of the death spiral toward death reinforcing stairway to heaven and at the top of the heaven is a man named toshi not promote and we get there through. blotch saying one block at
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a time every ten minutes a new block is for like a star in the universe in the multiverse hello i'm here and i love. this bridge for a single purpose. they have a super. star training very young. eight months of intensive school. rats. and they save lives. for a world cup twenty eight team coverage we've signed one of the greatest goalkeepers of alternatives but there was one more question and by the way who's going to be our coach. guys i know you are nervous he's
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a huge star among us and a huge amount of pressure to come out you have to be the center of the beach but how would you and will show the great britain to get you out of the rock at the back nobody gets past you we need you to get the ball in going let's go. a low as i want to you know and i'm really happy to join us for the two thousand and three and world cup in russia meet the special one come on both appreciate me to just say the review beyond the team's latest edition to make up a bigger. book. welcome back to the kaiser report imax keyser time now to turn to john mudd according to his twitter bio he's an attorney a legal analyst a teller of stories a bread baker and state supporter john
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a welcome thank you all right so john mudd you are a state good supporter what does that mean in the context of puerto rico well for time immemorial even during the spanish times there was a certain conflict in politicians the few that were allowed to be politicians between being having. tanami being part of spain or being independent and nowadays we have the same three things the problem is that down the territory it was the united states congress can discriminate against a church or whatever waves it wants to as long as it's not fundamental rights so therefore you are discriminating in terms of federal funding etc independence of course you have certain advantages and its advantages and statehood you have it the better it is and certain disadvantages right so you're weighing up all those advantages and disadvantages and you're kind of falling in the camp of statehood yeah it was just a little explore that all of it more so what would that mean for people living well
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first of all first thing that you would do is that i was born in hawaii so i wasn't born in puerto rico my so this ship is protected by the fourteenth amendment put into dinosaurs a bit will. shorten case and i do you know one of the puerto rican system ship which came in one hundred seventeen is not. but as long as i live here congress can say you can have this you can't have that. once we become a state you will have equal rights but because your state can discriminate sansom and then withdrew it second. you would have an end to the endless debate about steps and that. debate of status status and that is consumes enormous amounts of of energy in puerto rico and resource there is a group of elite simpler legal who are opposing statehood simply because they don't want to pay federal taxes seventy percent of people in puerto rico because of their income or lack thereof would not pay federal taxes would even even have to file federal income tax returns but the big businesses the few that are local would have
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to sign the taxes joe you're saying seventy percent of people when they've been qualified to be in a tax bracket and they wouldn't pay tax those who are against stated as such are looking at it purely from that taxes lands are mostly not not exclusively there are people who say because we're different from the gringos we have a different culture etc i was that culture evolves it's not the same thing when i came to puerto rico in november of one hundred sixty three my first cultural shock was in during the holy week in sixty four the whole programming changed i couldn't see my my my. my cartoons because they were religious groups that doesn't happen anymore because culture changes it's only in my lifetime if you look at one hundred years of course there's a greater changes example a hundred ninety eight before the americans came there was only catholic church was
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allowed no protestants were allowed. because there was a long debate that changed abortion gay rights etc have all been determined by american citizens so you're suggesting there's a bit of sentimentality here and that there has been enormous change already and so let's talk about some specifics or some since july first of twenty sixteen frederick i was effectively run by a. a school control board appointed by the u.s. president under what's called from mesa now does this body get to overrule the governor and other elected officials here and how does this even impact the notion of sovereignty well first part of this the first thing i thought about was greece and the troika you know greece is having a lot of trouble and the troika being easy be easy you and another body ruled over greece is similar what are your thoughts not the same the greeks could have said no we don't want your money they could have gotten out of the union with you normans amounts of difficulty and problems but they could have done that referendum and
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voted out as a matter of fact but they stoned them out there is this something again and then to stand but in puerto rico it's a little bit different going back down there is a little girl says congress can give the territories self-government or take it away and that's exactly what happened here the board when it was imposed took away some of the powers of the puerto rico not all of them actually as of the session by the by judge lane as to the appointment of c o four but i thought and she said no you can't do that well the board no you can't do that that may change when the fiscal plans are approved but that's another matter all right so just dig into that a little bit more because on the surface it looks like from a sign the u.s. has absolute control and they are that's a naive view i think what you're saying that there's more and more nuance to it yes because the problem is that not the u.s. you can say the congress territory clause says congress made this post
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and make need for rules for the territories not the president of course the president has to sign up on it but right now the board has certain duties and responsibilities and can override governor puerto rico on certain things but another state can't. have to read the opinion by the judge swain i think it was in the limber still mr somewhat to really understand it and maybe you will have a little difficulty but that's the way it is if you mentioned. right so tell us what it is perhaps what role have a plan and bankrupting the territories ok. we've got to go back yes let's go back to the one hundred thirty six people nowadays when i understand it but in those days most people thought that capitalism was in the last straits we're talking about the question and that planned economies so union south and that's you germany were wrote this was most of the intellectuals in the world thought that the body
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the democratic party was was inaugurated or made in one hundred thirty eight in one thousand nine hundred when the elections in ninety four he won it takes all of the different electrical companies that were in puerto rico nationalizes them and creates but the government is going to take care of the problem is that once you have politicians in charge of something as important to your grid they make political decisions they don't make business sense so they slowly being bankrupting but i bought and right now owes nine billion the right now when i worked on wall street we sold one week of bombs all the time you get triple tax exempt it's like b. plus or something like that yeah eating and i was they have been in cumberland with a lot of debt and i think a lot of that was just convenience of selling debt inventory on wall street debt that was not needed they just became over encumbered with a lot of debt. this is a question i've had for
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a while what do you think about that you have two. similar but you're saying it's like you're being offered the money so you say ok i'll take a right you have to look at it from another point of view when i was growing up in puerto rico as everywhere in the united states i was offered drugs by people and i said no some of the people i knew said yes and now they're in street life and what are we asking for money. it's similar here you may say that wall street was trying to that were eager to issue bonds but it was those dying to do that so they could have money the politicians and do whatever they wanted. if you look in two thousand and one. thing was twenty seven billion dollars ok now you've got a new creditor on the same year the way you characterize wall street was a bit of a predatory relationship there now you've got hedge funds coming in and they are seemingly strong arming the government into paying back loans that maybe should not
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be paid back accent john paulson for example is a big player in all this is i understand it well i see you shaking your head was he got rid of bonds what he did what paulson did a very smart marlee came in he saw like this hotel has a lot of potential has a lot of that that we bought it. difficult capitalising buy cheap and then sold their. headphones ok if you buy ten cents of the dollar and i offer you fifty cents on a dollar. you making forty cents on line sounds good hedge funds usually not always because you have to look at argentina right argentina being an example of maybe hedge funds acting in a more predatory fashion but also famous. in this case get hedge funds to make deals for example but if they had a deal whereby a fifteen twenty percent at the end it was a twenty percent haircut on. the board said no to a four to three. but that's what happened and the government was all in favor of it
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but the warts and sort of going to go through so what to be fair to say your view would be like hedge funds in themselves are not the problem they're just pure capitalist entities the management of those has trons could be a problem in that they're not being directed in a way that would be beneficial. you have to understand one thing. on any form any business is run for your stock for the benefit of your stock not for the benefit of people who are equal that's supposed to be the government the same government that took all these loans. to keep funding their never ending appetite for giving things to people so they would vote for them and then hasn't worked for the last four or five elections so that's the way it goes right ok well i mean that there could be an argument that the on the fun side there
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is a bit of duplicitous there but let's let's move on to let me put it that is their purpose is to make a buck their purpose is not a public purpose right that's what their purpose is to make a buck but the idea of an anarchic capitalism let's say government run by an arc of capitalist is not a favorable outcome i won't lose in our natural capital while you're saying that the market would have the ultimate discretion in determining what's best for the i no no no no no no i'm not going to the market politicians as opposed to what they're not because they're deferring to the has no bearing because what they're doing is your deposit and your politician e. you make the decision to take out a three point five billion dollar loan like the previous government. are you going to pay no the taxpayers what are you going to pay it's not you so you get the benefit because i spend the money and people only favors right but i don't mean in the past are some of the politicians being funded by in fact the same financier's
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do it ultimately benefit by the arrangement that is not necessarily great for folks but i just want to ask you about the hurricane that's coming along and you know maria two hundred thousand left the island sensory chain maria the storm has caused tens of billions in damages and so what's happening to the economy from that point of view the big population drain where where we're at now. obviously there's been enormous amounts of damage at the same time there is still money coming in from thema couple of billion lease has come in already being spent. there is going to be more money from insurance there's going to be more money from the federal government. interestingly enough the economy has just shrunk by about five percent and the income the government gets from the economy shrunk only by five percent which is really good considering the enormous amount of there which the hurricane calls for example i live in. border towns so i want to know which are fairly good
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well well run lights and i was eighty two days. so there was a lot of that much and if you consider that there's only a five percent decrease that's pretty good i think there in the commie will will rebound because of what i tell you after hurricane hugo five hundred years of resilience well it on the resistance and fluttering in spirit john i got to go ok and a price for being on the show. i would that's going to do it for this edition of the kaiser report with me. stacey armored like to thank our guest john mad if you want to read just on twitter it's kaiser report and select on by. default and i didn't britain isn't just on the march it's taking my daughter's
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action i know might need to read that gives you know you i see these organizations which are usually split into which we feel if i told you that. a. complex web of richard basham. i. i i. i.
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i. i. i. clashes erupt on the streets of paris with water cannon used against protesters during a nationwide strike against president macro economic reforms. u.k. prime minister claims that russia is a threat and doesn't respect borders again accusing moscow poisoning of former double agent she arrives in brussels for the european council summit. and of the son of libya's former leader moammar gadhafi runs for president we speak exclusively to saif gadhafi his lawyer. now the situation you have libya now is the result of the destruction of the state institutions not only the toppling the regime libya back to its road to become
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a democratic sovereign state. harvey this is r.t. . france ground to a halt on thursday amid a nationwide strike public sector workers students and railway employees were out protesting a range of issues from low wages to job losses thirty percent of flights. to and from paris with council and the schools were closed in major cities like musée and leon around ten thousand people took to the streets while in paris the number was twice as large in the capital and elsewhere there were violent clashes between protesters and police.
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yes. but at one of you know we are not here to be violent we are here to protest democratically against the liberal politics of macro wanted by that kind of a clue that we disagree with the government we can't accept this reforms that's why we are always here with us which is the most like of course the promises he made i think it's absolutely not been fulfilled. the clashes between police and protesters in paris stopping getting more violent throughout the day protests to say rocks at officers responded with water cannon dubin ski was one of the protest sites. thousands of people have been marching in paris on this day over national strikes they couldn't hear now about the past deal where they're trying to make a voice is heard to the government of president marcos saying they're unhappy with
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many of the ideals of p.c. ministration including that she was not one hundred and twenty thousand jobs in the five years if he's a president see people say they're unhappy with the working conditions and they want to make sure they're poor he says loud and clear there have been some violent confrontations during this day of strike in paris now where police clashed with the protesters some suggesting that the police had used extreme violence and some of the protesters had been injured this is a nationwide day strike susan. many parts of the country from the civil servants to the right we start just students to voice their concerns with this current administration this is actually also the first seven days of strikes by the railways these strikes are going to take place over the next few months until the end of june the way we're saying this is the only way they can get
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a voice and they will speak directly with the government about changes that are proposed to their line of work their philosophy must cancellations in terms of things to date and of course many schools have been closed have been affected. service because of this strike charlotte. paris. paris isn't the only friend city the saw major clashes between protesters and police on thursday. water cannon and tear gas we used as demonstrators filled smoke bombs and flares at offices. the u.k. defense ministry has now found itself drawn into the scandal surrounding cambridge analytical just to remind you the firm allegedly harvested the personal data of tens of millions of facebook users and exploited it for political ends now it's been revealed that cambridge analytic its parent company the a c l group used to be
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on the payroll of the u.k. defense ministry and provided the ministry with psychosocial research at a cost of almost two hundred thousand pounds and was even granted access to secret government files from the stop the war coalition says that the revelations are alarming. i don't really believe the ministry of defense should be involved in a company one arm of which at least is in gage's in a series of campaigns around the world of propaganda manipulation apparently and political interference secondly i don't really see why the ministry of defense is in any case spending huge amounts of money on. the kind of propaganda work and finally the question of secrecy i mean apparently this company was given access to top secret information this seems to me to be an extremely. worrying
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revelation. of facebook chief executive mark zuckerberg has for the first time commented on the scandal surrounding the social network it was revealed the personal details of millions of its customers we used to influence elections and then through facebook apologies or detail exactly what went wrong with privacy policies and what steps have been taken to solve the problem he added that the company quote will learn from this experience to make the community safer for everybody going forward and despite the fact the scandal concerns an american tech giant and the data mining company with offices in new york london and washington there have still been attempts in the media to tie this story to russia to explain all his guests if. imagine being a liberal a democrat and being stuck in a trump presidency for a year is it must be horrible waking up every day guessing that what russia
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is songe boughts or hackers have cooked up today cambridge analytic i had powerful connections to candidate trump including one time top advisor steve bannon and billionaire donor robert mercer so presidential son in law jared cushion or and consultant brad parr scale brought in the company which is now accused of utilizing data from fifty million facebook users without permission facebook was how donald trump was going to win wait a sec something's wrong where's the bad guy who do we blame this on. there it is questions are also swirling about a possible link to russian meddling cambridge c.e.o. reached out to julian a songs of wiki leaks seeking access to e-mails from hillary clinton's private server there's no evidence ricky leaks had such information but wiki leaks was releasing e-mails from the computers of other democrats which authorities say were hacked by russians and another trump advisor roger stone great
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innings i actually communicated with this what how do you even make the connection what's your logic if someone speaks to a songe their russian agent there is zero connection here other than the word russia being in every other sentence there is only one explanation cnn's report must have been put together by a random generator literally this explanation makes more sense than cnn's report asaad just the dia and see oil trump the russians cambridge had because we've got the keywords just fill this. basis with whatever he also directly message or russian hacker he says he did nothing wrong and despite another claim that cambridge had ties to a russian oil company the campaign insists there were never any links to russia are
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you comfortable that the trunk campaign through their cameras analytical had a connection to wiki leaks. they did have a connection wiki leaks let me demonstrate if you are of average height and your birthday is in july you are closely tied to. see how easy it is let's do this again if you like snow and the russians like snow you are aligned with russia or if you want lots of money and all the guards have lots of money you are susceptible to russian influence it's all nonsense but who cares it's about getting the key words out there about confusing and confounding not explaining or investigating key words people key words
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the russians everywhere. the u.k. prime minister has met with the leaders of france and germany during an e.u. summit in brussels in a joint statement the three leaders condemned russia for its alleged role in the poisoning of forward double spy surrogate script and his daughter he to oliver has the latest on the summit. briggs it has taken something of a back seat for theresa may as she has taken part in the first day of the european council summit in brussels drumming up support for a united e.u. message against russia has been what she's been about on thursday she had strong words entering the summit russia staged a brazen and reckless attatched against the united kingdom when his attempt to reach the merger of two people on the streets of seoul spring i'll be raising this issue with my counterparts today because it's clear that the russian stretch does not.

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