Youre watching are to international bring you your live news update from our studio here in moscow welcome to the program cuts as a man for oil falls amid fears about the coronavirus saudi arabia says it will increase output after a dispute with russia with more hears are to scale up in. Quite a somber atmosphere here on wall street they are already calling it black monday we saw a 15 minute free on futures trading when the stock market opened big dramatic plunge on the stock market the biggest drop weve seen since the 2008 financial crisis and on top of all of that weve got an Oil Price Drop 30 percent decline in the price of oil a plunge in the price of oil the biggest drop weve ever seen in oil cents in 1901 and at this point it being traced back essentially to the negotiations with opec saudi arabia has come forward and called for a decrease in Oil Production juju limited demand around the coronavirus well russia has come forward and said that this. Call for a reduction in Oil Production and a cap on Oil Production doesnt really make sense because it would give the United States an unfair advantage but this is what has been said by russian officials the Russian Oil Industry has a high quality Resource Base and a sufficient margin of financial strength to remain competitive any predicted price level as well as maintain its market share for russias interests this deal is simply logical we giving up our own markets remove cheap arab and russian oil to make way for expensive american shield and make it worthwhile for them saudi arabia did not appreciate russia refusing to go along with their proposal for a production cap and so they flooded the market and the price has dramatically gone down 30 percent drop 31. 00 a barrel here in the United States and in response to that weve got economists talking about how dangerous this situation really is we believe the. Price war on equivocally still to this weekend when saudi arabia aggressively cut the relative price which is sells its crude by the most at least 20 years this is turned into a scorched earth approach by saudi arabia in particular to deal with the problem of chronic production the saudis are the lowest cost producer by far at this point the whole world is waiting to see who will blink 1st russia or saudi arabia now the Shale Companies in the United States those are companies that extract oil and natural gas from the shale of the United States through the practice of hydraulic fracking they have been suffering quite a bit furthermore weve got algeria and france among other countries stepping up and calling on saudi arabia to negotiate and saying that theyve got to get this resolved the World Economy is in a jam people are very very nervous well wait to see what happens next. To break all that down were now joined live by max keiser host of the kaiser report so did you see any of this coming the New York Stock Exchange being pause for 15 minutes the worst day for the markets since 2008 was this expected. Well sure sure anyone whos an observer of markets to see this coming this is basically a flock of black swans and they all collided and theyre dropping out of the sky is just the black swans are made by falling theyre just dropping out of the sky youve got 3 major planks of the black swan clinician youve got the credit bubble blowing up again this is part 2 of the 2008 financial crisis. 2000 a what was decided was that a lot of banks are banding their line of credit so they can continue to do all the bad things they were doing that led to the crisis but do it 102030 times bigger this was going to be a problem and out in the lot up as anyone that a prize or reporter in predicting that about for several years that they have the same bad guy bigger credit line to do the same bad things theyll result in the saying that out number 2 youve got this russia. Market turns out russia has got the best hand at the geopolitical of oil going you know russia soft and then are doing about 7. 00 and rattle of a saudi arabia is close to 3. 00 a barrel russia has got no debt and theyve been buying gold and theyre very well positioned now to go into a very prolonged battle for supremacy in the oil world meanwhile usa and america their cost is well sort of 50 dollars a barrel so they are going to be low that you see if you look at the bond market for the shale industry the fractures it was absolutely decimated this will be the complete this arrangement of the american shale industry its got an 8 a massive bailout and a massive money printing still wont survive and then number 3. Youve got the coronavirus which is basically them will play the coronavirus attack 60. 00 to 70. 00 or 80 year olds with all the wealth that theyve accumulated during the boom years thats all going to be inherited now by the millennial gens because the coronavirus on our tax 67 year old leaves a 20 and 30 year olds completely healthy so this is some kind of. Concocted in some millennia old to want to somehow get back at the boomers for stealing all their money and encumbering with all that student debt so i guess the karmic rio is turning into the manner of the millennium. So weve got a bit of a perfect storm here how long do you see this continuing with today just the deepest darkest day or is this going to fizzle out or are we going to continue to see this economic turndown. Well i think were going to see a pro line contraction in markets around the world the u. S. Dollar are i think is going to suffer gravely and were going to see a new global unit of account emerge but it wont be the u. S. Dollar because the u. S. Dollar after world war 2 was the really the global unit of account in the seventys they made that bargain with saudi arabia to create the petro dollar and thats been the story now for 4045 years but thats not over today because the end of the petro dollar were going to see the rise of the ruble dollar or that the chinese russian based. Based dollar is going to be outside of America America as the center of the World Reserve currency i think this sense so thats number one of us going to take several years to play out number 2 the stock markets around the world are hyper inflated by Companies Buying back their own stock with free money from the Central Banks and once liquidity freezes and its freezing once again youre going to see earnings emerge to reflect the actual performance of these companies which means a mark down 4060 percent for a stock markets you know its amazing because the stock market 2 in america the dow jones which is got a size 29000. 00 it could trade down to 8000. 00 and would still be in a long term home market thats not over its like the stock market the Energy Market youre looking at oil without training and thats one of those comments out of russia where that we can hold her down and we can we can deal with 25. 00 a barrel oil and theyre ready to go into the trenches on the us and theyve got no debt in russia theyve got a lot of go hundreds and hundreds of tons of gold and theyre ready to go theyre ready to hit the you know to go big time here this is russias big play right now theyve lost a move right now so this is going to be the year of russia i think. Some analysts are saying that the saudis were playing a high stakes gamble is there any way any hope of them winning this game of chicken essentially no no saudi arabia is not going to win this game which i think because theyve got too much debt look at what happened soon they took saudi aramco their biggest enterprise problem recently close to a 2 trillion dollars valuation thats now turning below the initial Public Offering price its going to train below half of what it once was in terms of valuation and that entire economy is shrinking all the paints and those in the middle eastern world to the dollar are going to come unglued those pegs of the dollar are going to be reset and that means incredible economic distortions and disruptions all over the middle east the middle east has opened a can of whoop ass but they dont know who stupidly oh my god because theyre not going to win this its all theyre ill prepared for this theres 2 sides to every story of course and while some have accused russia of starting an Oil Price War moscow says that they really didnt have an option that the opec deal just wasnt a profitable offer do you think that thats the truth. It is in substance the truth it makes no economic sense the Economic Policy in viruses advisors in russia look at the numbers and they said this stuff doesnt make any sense so and we dont operate from a place of charity were not here to subsidize the american shale industry especially some so americans grand onerous look at sanctions and all the bad mouthing and all the propaganda against russia you know russia saying look the numbers dont add up and we are we consider you our partners but were not going to charitably subsidize the americans shall industry for you now weve been very crude and weve paid down all of our debt weve been buying lots of gold and were going to up approach this purely as a cotton mess in our own interests and thats the clinton thing to do and the problem debt mongers and saudi arabia and america are in a really bad position at this International Oil kolker game and i think russia is holding 3 aces so do you think its then going to be saudi arabia who is hit hardest by this price war. America will be hit hardest by the price war because at least in the Saudi Arabian case them its an autocracy and they can insulate themselves from the rising madmen crowds to some degree in america its chaotic its unmanageable and nobody is prepared so theres going to coronavirus you have donald trump who was pretending its in consequential and shaking hands of people and exposing themselves to the virus as are many people and the Political Class in america completely unrecognizable that this is a grave risk so you have exposure to that once it gets into the minds can cause tremendous problems to your physical health and so theyre not prepared an offer of whats coming in the next couple weeks and i think you have the most to lose its the most leverage economy and u. S. Dollar once it loses its place those were reserve currency and i think thats going to happen now and next year miles youre going to have an enormous dislocation in the economy in the u. S. Where suddenly all of the whats called the senor it the. Mormons or currency disappears and you end up suddenly finding yourself in a 2nd more country and youre no longer in the 1st iraq under. Max keiser host of the kaiser report thank you for joining us on the program to share your expertise jacqueline. Turkeys president was in brussels on monday in a bid to find a compromise to the unfolding migrant crisis at the greek Turkish Border the visit comes amid a deepening diplomatic standoff between ankara and athens thats left tens of thousands stranded at the frontier and across live to peter oliver peter what have european officials been saying. Well there was no joint press conference between the e. U. Side and the turkish side following this meeting but we did hear from sharp michele the European Council president and on the line the European Commission president mr michel well he said that this was a step forward that had been taken in relations between the e. U. In turkey that these talks were important in establishing progress in the short to medium to long term he said that the slack would now be taken up by. The high representative for Foreign Affairs whod be working closely with the Turkish Foreign minister to try and get will come to a solution to the current impasse over the 2016 e. U. Turkey refugee deal he also said that there would be Constant Contact over the coming days between the e. U. Sides and president one of turkey. On the line for her part she said that it was important that there was lines of communication still open pretty much thats where we are at the moment theyre happy that theyre still able to talk to one another face to face very diplomatic language used by the European Commission president as you would youd really expect essentially saying that more both sides agree to disagree at the moment. Todays discussion focused on mapping the areas in which we can work both in the e. U. s interest and in turkeys interest and indeed as you said a lot goes back to the e. U. Churchy statement of 2016 which remains valid. Well the Commission President was also asked about the actions of greek authorities at the border the question came from a turkish journalist to accused the greek side of excessive force. On the line said that borders were important to be protected but so was the right to asylum that all force that was used to be proportionate basically the situation we have at the moment is to is unhappy with the current deal its on the table it says its own manageable if there is a chance that certain aspects of it could be reopened back in 2016 they werent able to get the visa liberalization that they wanted theres also. That turkey will be looking for more cash essentially from the European Union if thats coming at it what form that money would come or thats going to have to be ironed out over the coming days in these talks that are going to continue basically the current deal does seem dead the new deal well they havent agreed on that yet arties peter are bringing us the latest thank you know. Geopolitics expert Pierre Emmanuel to man believes the e. U. Wants to ramp up the pressure on turkey but doesnt have the means. It was a 1st meeting but each result. No decision october so far because of a big disagreements not only between the e. U. And turkey but weve even and the European Union who would like to appear. To show strength in front of turkey because who took the gratian against. Using the migration of crisis said joe particular weapon but actually used very reach and the border is not to cross. But by you or migrants pushed by turkey because Greece National board of greece is kept by your greek government own greek police force he spots a reality check on the ground. In an attempt to curb the spread of the corona virus the italian Prime Minister has announced a nationwide ban on all public gatherings a drastic measure comes as the number of infections in the worlds 2nd worst hit country reached over 9000 growing by more than one and a half 1000 overnight while the number of deaths has risen by almost 100 since yesterday amid the latest restrictions uprisings broke out in a number of jails besides demands for improved conditions prisoners have been reportedly angered by new rules which have seen a suspension of family visits and this footage shows a group of inmates on the roof of the sound batar prison in milan burning items and shouting freedom but the most severe revolt was seen in the Northern City of medan which left 6 inmates dead in sicily the relatives of some detainees gather near jail concerned over the potential prisoner infection. Zone while this coronavirus has been raging for almost 3 months spoke about everything. The prisoners this is unfair because in this building we dont even have events right now an ambulance has just gone in and we have no idea why one of the ministers to be prompted all of this people who have sentences of less than 5 years have to be treated as different measures at home as. We discussed the prison protests as well as italy and europes response to the Coronavirus Crisis with political analyst paul phone he believes that use efforts have fallen short so far. Definitely they are in the prisoners interests but of course d. C. Is used to 2 outcries within the christians and try to get the permissions to return home at least dont grow really so beasts is quite disturbing events measures to be increased in the prisons because of course the inmates are very close to each other the possibility oh. The virus really means there but i mean all this out crossing is. Not actually not just definitely. This is a bit of far mismatch in the provisions that the doctor says but on the other hand they say that means it really is a democratic country and there are a number of interests to be taken into account the e. U. Has confidences and can intervene above the Member States but even in this case because passage of the e. U. To intervene in this emergency as being very vague. Calling in just the sort of solidarity among states which has not been seen. Its been revealed scores of south African Women were sterilized and Public Hospitals without their consent revelations have come to light in a new report and we spoke to one of the victims who found that her uterus had been removed only when she tried to get pregnant 11 years later. All of the b. Was too big and they had to perform a c. Section and remember when i walked up i asked them why they have reached by mitch or my family then they explained that the b. Was too big and they include a nice 16 a good engaged after trying for about 4 to 5 months. Without me being able to conceive with any thought i should go see a doctor just thought it was just my. Infertility issues dr will prescribe medication opera fine and when it goes there thats when i learned that i didnt have to risk it all i dont think there was anything wrong with me i didnt have any complications before birth and i didnt have any complications after birth for some reason for im known reason they just decided to move my uterus im seeing it and nongreasy in because as im sitting here at this moment i dont know why i was leading this to i lived when i met with dr ed ridge who confirmed that he was in the procedure happened he also could not give me the answer all you could say to me was that they did the operation to save my life i dont know to save my life from white the commission for gender equality investigated complaints from 48 victims south africa saw sterilization as a way to fight hiv and hospital staff for some of the women to sign consent forms according to the World Health Organization the country suffers from the Worlds Largest each ivy epidemic more than 4000000. 00 women are hiv positive according to the report illegal sterilization was carried out in 15 Public Hospitals between 20022005 the study was complicated by the fact that hospital staff had tried to hide documentation or the victim we spoke to says shes not even hiv positive. Im not positive are high. Offices theyre quite aware of this and ill say this in camera they are quite aware of the practice and in a doing anything new i mean being held accountable it seems like our doctors of the law i didnt the same in the end i couldnt have signed it because at that time i was a minor and my mom who was there with me all the time also didnt same any quinson form no woman deserves to go through what i am going through and why 2 are all going through it is literally lyster lives i do not want to my daughter to be singing the same song that im singing today because its time bearable with the pain that comes with this its a its unbearable and most of all. To my right as a human being were very late and my regret is a woman. My reproduction right were taken away from me and no woman ever and so therefore the should go through what we are through we have contacted south africas Health Authorities for comment and will bring you any response meanwhile the Health Minister now wants to urgently investigate the issue. It trial has gotten underway in the netherlands of 3 russians and the ukrainian accused over the downing of flight m. H. 17 the Malaysian Airlines boeing was blown out of the sky over Eastern Ukraine almost 6 years ago killing all 298 people on board russia rejects the arctic accusations and claims the investigation is biased are to show a difference he has been following the case. Weve been getting lots of information about how the court will proceed not just over the next few weeks but over the next few months and beyond this is all taking place at the court behind me which is this critical judicial complex in the shadow here of the airport where m. H. 17 made that final flight that fatal flight which ended in the deaths of 298 individuals what we know is that all 4 men the 3 russians and one ukrainian have denied the charges against them those charges of been suspected of being involved in transporting a book a missile from russia into Eastern Ukraine 3 of the men will be tried in absentia they are not here the 4th man or leg. Is also not here but he has a defense team that he has appointed and he has denied outright all of the charges against him the names of the victims of the mh 17 crash will all read out to the court this morning the judge that had judge describing the heavy science in the court as people listened to those names he also talked about this being a court case that had already been played out in the media and he said it was something that had fired debates weve also heard from the opening remarks of the Prosecution Team who talked also about the family victims and their statements. Another relative explained in detail how the family responded how difficult it was he describes her sorrow like this everything feels meaningless i have no Energy Connection with life so. While this criminal trial will come as a relief for some for others it will be a heavy burden to bear every time the best occasion appears in the news one relative may feel home from their wounds reopened well the head judge described what happened to m. H. 17. Is being an atrocious disaster he also said that while the 4 men are suspected of being involved in transporting that book missile from russia to ukraine and the trials will be held simultaneously they cases will not be joined weve been taking a look back at how this court case arrived its a trial its set to last more than a year 3 russians and the ukrainian are accused of helping to bring a book Missile Launch from russia into Eastern Ukraine where it fired the fatal shot that brought down the boeing 777 some of those that we expect to be here are 13 secret witnesses whose identities are being protected and thats because dutch prosecutors say they face significant risks to their safety but even before the court has heard a single argument some are treating the trial as a story that already has no stone left unturned brushes probably involved and if involved theyre probably going to cover it up 51 percent of russians and directly involved are right now it looks like its russias fault because. Its russias fault. Its clear some dont need to wait for any Court Verdict to draw up their own conclusions russia claims this kind of coverage has a clear intention going in the bit of Media Campaign has taken an unprecedented scale it shows how russia and its citizens are presumed guilty that is unacceptable it has been launched in the last few days prior to the hearings in order to compensate for existing gaps in the evidence and to conceal the attempts to manipulate the facts so that it fits with the chosen theory that prosecutors say they have evidence that the book a Missile System was transported from russia into the Donetsk Region of ukraine in the days before it was fired now russia says thats not true its presented evidence that the fatal missile serial number. Can be traced all the way back to the 1980 s. When it says it was transported to ukraine then a member of the soviet union and its there it stayed after the collapse of the u. S. S. R. But the joint Investigation Team into the mh 17 tragedy has russia says ignored what it believes is a crucial piece of the jigsaw russia was also refused full participation in the probe and as such says it will not recognize the verdict reached here by the Court Despite the fact russia was denied being a full participant of the joint Investigation Team since the very 1st day of the tragedy the Russian Federation has actively assisted the investigation and during the past year is conveyed to a dutch colleagues a large amount of data connected with the mh 17 crash unfortunately most of these materials were ignored by the joint Investigation Team this includes a test by the book manufacturer to try and pinpoint the location it was shot from. Russia claims that test shows the mis are likely came from an area controlled by Ukrainian Forces but the findings were jacketed by the g i t with its report stating that russia and ukrainian rebels were responsible. We have established that the Russian Federation was complicit in the downing of m h 17 because they made available the weapon that was used to shoot down the plane we have all the material to substantiate that the official investigation also received criticism from malaysia 43 malaysians died in the catastrophe which involved the countrys National Carrier but his thought is they were not given full access to essential information that was contained in the black box of the flight recorders while the countrys now. Former Prime Minister has raised doubts from the very beginning we see too much politics in the idea was to find a hold this happened when not all there. Seem to be concerned that it needs to be on russia many relatives of those who were killed in the mh 17 disaster are expected to be present at the trial for them this is a court case about finding the truth and perhaps finding closure for a devastating chapter of their lives some have already crane for not closing it skies over a conflict zone in the east of the country but whatever the outcome here regardless of whether the 4 men are found guilty or innocent nothing will ever bring back their loved ones. R. T. Them. Of the days top news for now as always thanks for tuning in