Whats happening President Trump is parading the fed once again saying we need negative Interest Rates because we are of course in a monetary war and a trade war with around the world hes pointing to europe having negative rates and that we cant compete with europe if we dont have negative rates against china of course hes always saying china manipulates their currency and they we have an free fair trade with them and here is a headline about that from china looking at the United States china u. S. Rivalry on brink of becoming a quote financial war former minister says the growing rivalry between china and the United States is at risk of becoming a financial war a former chinese finance minister said on saturday way chairman of the Foreign Affairs committee of the chinas people political consult of conference e p p c c National Committee he said quote the next step in the frictions between china and United States is a financial war it is characterized by the use of long arm jurisdiction by various excuses the block specific enterprises such as the bans on z t e and huawei of finance or the women talked about for a while of finally the mainstream is kind of getting it to the side trying to figure out what exactly does it may and theres pressure to go to negative Interest Rates is a stall just on steroids other words trump is saying we want to go back to the 20th century and the way to get there when america was pretty down and we want to get there by going backwards in time and the only way can do that is. If you were to revalue the worth of time and take it from having a positive linear Going Forward positive Interest Rate having a negative Interest Rate remember europe is stuck in the past its a museum nothing ever happens there and thats what a donald trump would like to do would like to go back to the 1960 s. And 1970 s. When america was great and disco was was was on the turntable of course america runs our empire as an empire of debt and all of that debt is backed by derivatives which are tied to algorithms which price based on time so without time if we have negative Interest Rates all of that pile debt anyway collapses because theres no way to price all of the all of the derivatives that back our empire so you cant have a price for anything in the Financial Markets if there is no positive Interest Rate upon which to construct a dividend discount model or some other typical way of valuing assets and therefore the only way to keep this ponzi scheme going is to keep flooding the market with ever more trillions of dollars worth of big money and more derivatives so the ponzi scheme will increase americas debt will go from 23. 00 trillion to 50. 00 to 60. 00 trillion i have no doubt about that by the way we are and brooklyn where in a warehouse in brooklyn so if you hear people beeping behind us its because theyre angry about somebody parallel parking or something in front of them but i also want to say that this guy luigi way he notices the United States having an increasing amount of xenophobia us in referring to the anti russian xenophobia but in particular hes looking at whipping up a xenophobia against china right now because of this trade war he said the u. S. Has been close to the air of mccarthyism referring to the pakis of making accusations of subversion or treason without proper regard for evidence so he does know that which is quite interesting that that was. Mark of all thing about the russian gate hoax is that there was that imaginary ghost and enemy out there called russia during the russia gate hoax meanwhile if you look at huawei and other 5 g. Technologies coming out of china and other technology in china chinas actually leapfrogging ahead of the us economically and now is reason be the currency war so now that whole period of focusing on russia would be is just a waste of time we should have been focusing on the actual rivals americas pretty dominant in the u. S. And that would be china part of this again the u. S. Dollar as a weapon the financial war the desire for negative Interest Rates he said that china should look to cooperate with other countries to build one or 2 independent International Clearance systems to prevent the u. S. Using its long arm jurisdiction write the u. S. World reserve currency and using instruments like swift which gives the u. S. The ability to censor any transactions they can censor iran they can censor china they can censor any country they want to and apply sanctions and engage in war you know sanctions are an act of war and the u. S. Has had a soft kill war going on now for decades against these countries that they dont like big rary very dubious reasons and the unknown reasons really well now were going to get into a multipolar world and the ability to cut people off from the Financial Data will cease if you want to be the new chill platform on which all internet happens or all commerce happens then of course it needs to be always neutral regardless just like at the u. N. General Assembly Every year here across the river and manhattan they have to allow anybody any nation free passage to come there and speak so we want to have that u. N. General Assembly Every year here but in order to have that we have to promise that we want to arrest anybody we wont allow we wont prevent. Some guy we dont like or a dictator or authoritarian like from speaking there so the same thing with the International Settlements system if you want the power to control it and youve got to allow all trades settle there otherwise this emerges now of course speaking of financial war and speaking of china by the way this is the most prosperous economy the world has ever seen says jamie diamond and its going to continue so jamie diamond was interviewed on 60 minutes by leslie stall 1st of all he says that the trade war wont be settled before 2020 but it wont cause any problems he doesnt see that theres any indication that the consumer in the United States is willing to stop spending he says the consumer which is 70 percent of the u. S. Economy is quite strong confidence is very high their Balance Sheets are in great shape and you see that the strength of the American Consumer is driving the American Economy and the Global Economy while business slowed down my current view is that no it was just a slowdown not a petering out so and a diamond says the most prosperous country every means the most indebted country ever so you have student debt skyrocketing household skyrocketing corporate debt skyrocketing the National Debt is skyrocketing hes in the business of selling debt creating derivatives around that jamie dimon is never been more prosperous so yeah i can understand his point of view but nevertheless its hollowing out the economy and its extraordinarily fragile and we see pockets of it collapsing in various towns could be flint michigan could be San Francisco could be various towns are just disappearing and being vaporized by this fragility of the economy because been hollowed out because of the likes thanks to jamie diamond course jamie dimon is the head of the biggest bank in the world certainly the biggest bank of america as well and he is saying 1st of all that trump is going to win in 2020 because you dont have a booming economy and a president incumbent who loses 2nd avali yes its the Consumer Spending leslie stahl should have followed up of course when he said this is the greatest economy ever she should have asked him why then as the largest participant and. Repo market the largest bank in america is the fed having to intervene to the tune of up to 200000000000. 00 every single day in the repo market jamie diamond why is that happening if everything is so great well the measure of a booming economy according to lesley stahl 60 minutes jamie diamond is the ever increasing number of billionaires but there is a point where you have to understand that for every billionaire its a disenfranchisement of a 1000000 people its a its not the same as having an economy and generating prosperity was some kind it going to be across the board and a rising Living Standard this is a 0 sum game played by Interest Rate apartheid games by jamie diamond and his cohorts on wall street or moving for example hundreds and hundreds of billions of dollars from pension accounts through their pockets using ultra cheap manipulated Interest Rates we now know that Interest Rates whether its live or the bank of england or the fed they are engaged in a racketeering and thats why jamie dimon is being prosecuted for racketeering because i mean theyd be allayed gold silver bonds stocks currencies is a racketeer thats what he does to be clear jamie dimon himself is not but 3 executives at j. P. Morgan Senior Executives are being charged with racketeering within j. P. Morgan leslie stahl then went on to ask him about the fallout from the financial crash and the lack of any sort of justice there he said there was no Old Testament just as a lot of people lost their reputation and money but too many people didnt so of course she didnt ask him as a follow up well dont you want to do any penance do you feel guilty dont you want to confess that the fact that you jamie dimon were on the board of the new york fed when you at the new york fed decided to bail out j. P. Morgan to the tune of hundreds of billions and on the other banks fundamentally change the character of america by strong arming and pressuring eric holder. The attorney general introduced the holder doctrine which says that theres 2 tier system of justice in america and theres no rule of law if youre jamie dimon and the bankers on wall street this is trickle down to the general population is boston under 50 years ago theres looting at the top theres going to be looting all across the nation all across the society so when you look at the crime sprees when you look at the public def occasion when you look at the public lawlessness if you look at the riots on the street thats because at the top is the genda set by jamie diamond whos saying look at me im a crook and im a billionaire you can be a crook too and you make 20. 00 so its a crooked awful cesspool which is poster child is frick and jamie dimon of course he says yes we have too many billionaires and this is a cause of the fed bailing out everybody but that we shouldnt take it back from people like myself in fact we should just raise the minimum wage to 15. 00 i make all those Small Businesses pay the price on top of that he said yes inequality is rising but that doesnt mean Free Enterprise is bad of course using propagandist to say he is Free Enterprise when in fact j. P. Morgan is not free to fail so that is not Free Enterprise lot of Free Enterprise he hasnt had a losing day and years because they manipulate markets and j. P. Morgan famously went 3 or 4 months last year without a losing trade on any given day thats like flipping a nickel in the air and having it land as every single day for 90 days on are days are at the only way thats possible is if the nickel has a heads on both sides so this is this is jamie diamonds game its heads he wins tails we lose our heads he wins and he wins again and he continues to win every single possible day as we had into that 2020 actions i want to say that democrats will probably not be happy with his his statements that the economy is booming and that in fact we need a 15. 00 minimum wage because none of the neo liberal candidates for sure dont want to look left wing as Hillary Clinton when so. I and i and push for a minimum wage rise right well thats going to do it dont go away much more coming your way after the break with tyson slocum. Up in the front of the mcconnell way you go through a food. Bank itself Movie Theater i. Was in this way got to dog so hard not to think of the mother decide to see the look of it i want and i dont miss donnithorne if. This is the only thing that we do is music because everybody fights his way. Through our you can use all the feet out of this bill frist woody allen. Movie about a lot of them. But i think is this is the funds that is all come from. What politicians do. They put themselves on the line they get accepted or rejected. So when you want to be president im sure. Some want to be rich. But youre going to be close as it was before 3 in the morning cant be good. Im interested always in the water using the. First sip. Welcome back to the kaiser report imax kaisers im not its arent you tyson slocum he is of the Public Citizens Energy Program in washington d. C. I said welcome back always great to be here you know if youve got your finger on the pulse of whats happening there in d. C. And youve got a story here we got to talk about whats j. P. Morgan doing down in texas with the El Paso Electric so in early june. Which is a franchise electric utility traded on the new york stock market been in operation for more than 100 years its got a Service Territory in west texas and parts of new mexico about 500000 households announced that it was being acquired by a private Investment Fund called the i have. Claims that its advised by j. P. Morgan chase and company but the more we started to dig into this transaction the more we uncovered the fact that i is actually controlled by j. P. Morgan chase and company and so in numerous filings before the federal Energy Regulatory commission which is one of the government bodies that has to approve and review this merger we have raised the alarm bell. Ferk and other regulatory agencies should not approve this merger until i comes clean about its affiliate ties to j. P. Morgan chase right now like some. Of the j. P. Morgan they go to the graveyard and find some dead people but they found the equivalent therefore of and to be a front to control this Energy Company and as part of this need and. This this move by monopolist like j. P. Morgan and others to control the Energy Business and its you know. Until recently that was a public utility and there was a need to make sure that these things were operating so that energy was available to the public at a fair price now weve got Intermittent Energy energy grids collapsing power is failing and youve got a monopolist in the background gouging is price gouging by the master price gougers cereal fraudster and racketeer jamie diamond himself probably the number one most wanted financial terrorist in america so washington d. C. And youre over there Citizens Energy program aside from you know applying some pressure there to try to get more disclosure or its a publicly traded company right. Dont they have to comply with some or all laws there i mean arent they violating some produce share responsibility of anyones investing in this like a pension fund or a corporation or private equity fund with a lack of disclosure here there are potentially committing fraud themselves they should be aware this i think that there are some Serious Problems here as you pointed out gets all of its capital from Pension Funds its our understanding that most of the Pension Funds that are investing here are municipal firefighter Teachers PolicePension Funds from small and medium sized towns a lot of times these municipal Pension Funds dont necessarily have the management wherewithal to compete with the likes of a j. P. Morgan and so we actually got our hands on some of the pitching power point documents that i was giving to these small Pension Funds and what we found from these pitching documents is that i f. Doesnt have any employees every single employee that works for this private Investment Fund is lent to it by j. P. Morgan so j. P. Morgan staffs the entire operation and they have 3 allegedly independent owners well when we did digging these. People dont own anything they actually didnt contribute any money they are just Board Members and we recently got j. P. Morgan to admit that 2 of the 3 owners are there because j. P. Morgan submitted their names as references doesnt arent people going to realize that and funds are like the toxic waste for risk in any any bad trade because the people to match their purposefully higher stupid people to manage these Pension Funds public Pension Funds and they just go there and they dump garbage in there i know ive worked on wall street and ive done many am bad trait that should have been on somebodys rich guys account it dump it into a pension fund because they have no way to stop it