Transcripts For RT Keiser Report 20240713

Change the world it is suddenly that they were actually both then and now companies that brag about their ability to change the world it is suddenly that they were actually running out of money both then and now the valuations of once heralded Tech Enterprises were having running out of money both then and now the valuations of once heralded Tech Enterprises were haves in matters of weeks both then and now there were widespread sense of euphoria in matters of weeks both then and now there were widespread sense of euphoria curling into soberness washed down with the realisation that thousands of workers and once promising fertile into soberness washed down with the realisation that thousands of workers and once promising firms were poised to lose their jobs thats right we are having were poised to lose their jobs thats right we are having another turn of the cycle a lot of it us to do with the fact that so much money was raised in the voting another turn of the cycle a lot of it us to do with the fact that so much money was raised in the van. Capital markets to avoid going public and having a dot com replay of their Capital Markets to avoid going public and having a dot com replay a lot of these companies raised a lot of money in the Venture Capital want to before it ever reached a lot of these companies raised a lot of money in the Venture Capital want to before it ever reached the Public Market so in the case away work they achieved Something Like a 48000000000. 00 Public Market so in the case away work they achieved Something Like a 48000000000. 00 valuation before even going public and during that time this is whats remarkable dollar valuation before even going public and during that time this is whats remarkable to me during the dot com bubble there was a lot of problems with c. To me during the dot com bubble there was a lot of problems with c. E. O. s and insiders dumping stock right after the i. P. O. Their ship was an insiders dumping stock right after the i. P. O. There should be a lockup period to force people keep people to stay on for at least be a lock up period to force people keep people to stay on for at least 6 months or a year to make sure this thing gets out of the gate it without too many 6 months or a year to make sure this thing gets out of the gate it without too many problems here in this era the we work being a primary example the problems here in this era of the we work being a primary example the founder an insider was able to dump almost a 1000000000. 00 because the founder an insider was able to dump almost a 1000000000. 00 before the i. P. O. To the sophisticated money not to the dummy for the i. P. O. To the sophisticated money not to the dumb money he had he was dumping it on multibillionaires the venture county he had he was dumping it on multibillionaires the venture. Pittel community which had grown up on this in the last 1015 years on up a whole community which had grown up on this in the last 1015 years on this unicorn mentality that they were but its similar that they were all this unicorn mentality that they were but similar that they were all so feeding on the same delusion and they had prophets early on feeding on the same delusion and they had profits early on in the couple of big big winners that they were recycling so you recycling kind of the one in a couple of big big winners that they were recycling so you recycling kind of the house money as it goes in the valuations keep going higher and higher but now some money as it goes in the valuations keep going higher and higher but there is defectively the same but theyre not publicly traded but it will the question is will they defect to be the same but theyre not publicly traded but it will the question is will it have a contagion effect will the spillover into a wider stock market phenomena it would have a contagion effect will the spillover into a wider stock market phenomena and therefore a wider economic phenomena it is having the impact in Silicon Valley that house prices are there for a wider economic phenomena it is having the impact in Silicon Valley that house prices are falling rapidly because a lot of people were hoping to you know buy properties that they could falling rapidly because a lot of people were hoping to you know buy properties that they could afford if their we work shares were worth something so now they forward if their we work shares were worth something so now there is this guy whos calling it the not com bubble not the dot com bubble this guy is calling it the not com bubble not the dot com bubble because in fact a lot of these companies are just masquerading as tech company because in fact a lot of these companies are just masquerading as tech come. Bennies there not actually Tech Companies we work its not a tech company its the same Old Fashioned commercial Real Estate Lending and leasing is theyre not actually Tech Companies we work its not a tech company its the same Old Fashioned commercial Real Estate Lending and leasing sort of thing thats been going on its a boring industry thats been around for hundreds of years and sort of thing thats been going on as a boring industry thats been around for hundreds of years and its the same industry but its just been was branded as some sort of high tech in the same industry but its just been was branded as some sort of high Tech Software company where you can get big multiples so why is calling and not com is because Software Company where you can get big multiples so why is calling and not com is because the ordinary investor is way smarter right now than the v. C. Funds because the ordinary investor is way smarter right now than the v. C. Funds because when the web browser netscape went public august 9th 1905 the does when the web browser netscape went public aug 9th 1905 the day many sites as the beginning of the dot com bubble its stock skyrocketed from 28 day many site to the beginning of the dot com bubble its stock skyrocketed from 28. 00 to 75. 00 in a matter of hours even though the company was not profitable alors to 75. 00 in a matter of hours even though the company was not profitable and todays market the opposite is happening unicorns with no positive earnings are getting slaughtered and todays market the opposite is happening unicorns with no positive earnings are getting slaughtered at the gates we were expel you ation fell more than 80 percent pre i. P. O. At the gates we were expel you ation fell more than 80 percent pre i. P. O. When investors balked at its mounting losses peloton lift and goober have also struggled to prevent investors balked at its mounting losses peloton lifton hooper have also struggled to. Persuade Public Markets to grade them on a curve also their stock prices fall on the day of the persuade Public Markets to grade them on a curve also their stock prices fall on the day of the Public Offering institutions and Retail Investors are refusing to fork over to unicorn Public Offering institutions and Retail Investors are refusing to fork over to unicorns the valuations that private investors were expecting particularly soft but the valuations that private investors were expecting particularly soft bank a major backer of lift and we work this isnt a picture of mass meeting a major backer of a lift and we work this isnt a picture of mass media its a picture of public so brian where the masses are diagnosing and its a picture of public so brian where the masses are diagnosing an acute fever in private markets bringing that back to the Opening Statement where i said this cute fever in private markets bring that back to the Opening Statement where i said this because you watch kaiser report weve been covering this weve been i remember misfire science showing charm because you watch kaiser report weve been covering this weve been i remember misfire science showing charts and saying when we were still in london 3 or 4 years ago saying that lifton and saying when we were still in london 3 or 4 years ago saying that lifton these companies were not worth that that they were a ponzi schemes and that one day they were trying to dump it on the these companies were not worth that that they were ponzi schemes and that one day they were trying to dump it on the Public Markets so i think this is also part of that censorship deal Public Markets so i think this is also part of that censorship d. Platforming sort of thing that we see is like the the Corporate Media dumb platforming sort of thing that we see is like the the Corporate Media doesnt have control over the dummies you know the dumb money that used to be called the dumb money the doesnt have control over the dummies you know the dumb money that used to be called the dumb money the. Average ordinary investor out there that is used to dump that private invest our bridge ordinary investor out there that is used to dump the private investor money onto the dot com phenomenon if youre going back to that era you have money on to the dot com phenomenon if youre going back to that era you know it was Technology Software problem Technology Driven where it was technology a Software Problem Technology Driven where the pitch would be were going to do publishing on the internet the pitch would be were going to do publishing on the internet you know in that magazines and newspapers will become redundant people will get their news you know in that magazines and newspapers will become redundant people will get their news on the internet at the time nobody believed that. Email is on the internet at the time nobody believed that an email at that time a member of hollywood at the time i was working and it was if you had an email address at that time a member of hollywood at the time i was working and it would if you had an email address it was considered a class a because you were considered a nerd nobody with it was considered a class a because you were considered a nerd nobody with respectable would have an email address you know the thats how until the blair witch project spectacle would have an email address you know the thats how until the blair witch project and then everything changed in hollywood because of the internet but here the story of the it in than everything changed in hollywood because of the internet but here the story of the not com vc driven unicorn craziness not. The sea driven unicorn craziness is even more bizarre in that its Companies Like we work is even more bizarre in that its Companies Like we work. The pitch was theyre going to own the Global Real Estate market the pitch was theyre going to own the Global Real Estate market so the founder was saying that the Global Real Estate market is for kit so the founder was saying that the Global Real Estate market is 5 trillion dollars or 10 trillion dollars and that we could own it and that 5 trillion dollars or 10 trillion dollars and that we could own it and that pets raised tens of billions of dollars that would be like saying im gets raised tens of billions of dollars that would be like saying im going to im going to start farming you know kumquats on the dark side of the money im going to start farming you know kumquats on the dark side of the moon because its its just im the the center of the story because its its just im the the center of the story that. If people think it is risky picks will take the press in this in early in the just coming to or through or that were just coming through has become even less less substantial its never have such as has become even less less substantial its never have such a such stories of lust such as a student raises the last bit has up sevens raised so many have money on these some money any money and money from so such a high concentration of the seas and now as you point out its collapse and of course theyre unicorns which are mystical magical creatures so it was always that and it is a world of negative Interest Rates so there we have gone kind of through a Looking Glass where maybe hugh might imagine that this time having cups and of course there unicorns which are mystical magical creatures so it was always that and it is a world of negative Interest Rates so there we have gone kind of the. A Looking Glass where maybe hugh might imagine that this time having huge losses and being subsidized by your investors and your bond holders because im a huge losses and being subsidized by your investors and your bond holders because remember there were people Bond Investors pouring money into. There were people Bond Investors pouring money into. And subsidizing huge percentage of every ride you take in and subsidizing huge percentage of every ride you take in super is subsidized by these crazy investors i dont know why they pay for half of my or i but they do and i take it and thank you its very polite of them but there they were never earning money and there was no hope for it we also talked about this in terms of the Shale Oil Production Bond Investors are pouring money into it the billions and billions of dollars your pension fund take it and thank you its very polite of them but there they were never earning money and there was no hope for it we also talked about this in terms of the shell Oil Production Bond Investors are pouring money into it the billions and billions of dollars your pension fund your local municipalities your like your state pensions everybodys pouring money and fund your local municipalities your like your state pensions everybodys pouring money into it and we kept looking at it and just looking at their earnings reports and looking at the facts and so and we kept looking at it and just looking at their earnings reports and looking at the facts and said just quite simply they are losing money that they still havent made and said just quite simply they are losing money they still havent made money they didnt make money when it was 20. 00 a barrel for oil they didnt make money when it was 100. 00 me they didnt make money when it was 20. 00 a barrel for oil they didnt make money when it was 110. 00 a barrel so theyre theyre not theyre losing money the whole way because that way it read good in 10. 00 a barrel so theyre theyre not theyre losing money the whole way because that way it read crean students. Syndrome where they have to keep on drilling faster and faster well now its really really suffering syndrome where they have to keep on drilling faster and faster well now its really really starting to hit again just like the no not com bubble where the Public Markets are starting to hit again just like the no not com bubble where the Public Markets are saying do you guys arent making money and youre never going to make money well its starting to really hitting these you guys arent making money and youre never going to make money well its starting to really hit in the shale oil sector in america despite all the hype despite the shale oil sector in america despite all the hype despite that like what you were saying about newman with we work where hes like were going to hold the global commercial real estate like what you were saying about newman with we work where hes like were going to hold the global commercial Real Estate Market member all the headlines that america is like we produce way more oil than saudi arabia market member all the headlines that america is like we produce way more oil than saudi arabia where were an Oil Rich Nation you know like them foil Field Services figure where were an Oil Rich Nation you know like them foil Field Services face crisis as shale slowdown worsens shell Oil Producers are under fire from investors while most analysts see a supply glut in 2020 the 1st and 3rd base crisis as shale slowdown worsens shell Oil Producers are under fire from investors while most analysts see a supply glut in 2020 the 1st and 3rd Largest Oil Field Service Companies in the world saw their earnings hit in the 3rd quarter Largest Oil Field Service Companies in the world saw their earnings hit in the 3rd quarter due to the slowdown in the u. S. Shale drilling schlumberger took a 12 points are due to the slowdown in the u. S. Shale drilling schlumberger took a 12700000000. 00 impairment charge related to its north American Business around 7000000000. 00 impairment charge related to its north American Business a rather dramatic slowdown that led to an. 11400000000. 00 loss for the magic of the large low just as in them that led to an 11400000000. 00 loss for the quarter the largest in the companys history. Pumping because thats the best sizable right down from pressure pumping business thats just you just the states held knows north america you know a market of being profit even more pork or not sanford and the paddock it being pretty poor said anish founder of oil and gas consultancy from a cap and energy to the cost of via found oil and gas consultancy from a cap and energy if the cost of getting a barrel of oil in saudi arabia the gal our oil field is like 2 bucks getting a barrel of oil in saudi arabia the gal our oil field is like 2 bucks yeah in america you get a barrel of oil you know going to get older but. You need to. Point to thousands and thousands but i dont usually borrow 20000. 00 which is easy. Because hes what were saying here the unicorn to qana me they just they were listening and they were unocal untruly or economy they they just they lend they lend trillions at no cost ok so now when rates go up as they will because it said no cost ok so now when rates go up as they will because as night as night follows day as gravity exists as there is havent been and hell their rates are going to go up and that means that the saudis can still get tell their rates are going to go up and that means that the saudis can still get a barrel oil for 2 bucks a barrel oil. And the point you cant borrow 10. 00 to 20000. 00 in a barrel or in the in the u. S. And the cost of this goes up beyond what you can afford it about one percent a barrel all in the in the u. S. If the cost of this goes up beyond what you can afford it but one thing we always mentioned was like ok where. We know one when we always mention was like ok where. We know what producers but of course saudi arabia kuwait iran iraq russia producers but of course saudi arabia kuwait iran iraq russia they all theyre like yeah but it only cost us a few bucks like we we know youre spending 70. 00 to pull out that same barrel of oil right the same thing was happening with the taxi they all theyre like yeah but it only cost us a few bucks like we we know youre spending 70 bucks to pull out that same barrel of oil right the same thing was happening with the taxi market the taxi drivers know how much it costs for all the regulations that the insurance the gasoline market the taxi drivers know how much it costs for all the regulations that the insurance the gasoline the driver and theyre like yeah youre like eating our lunch technique in the driver and theyre like yeah youre like eating our lunch technically right now but youre losing money late how is that even a visibly right now youre losing money now is that we that even if their business so theyre very similar these 2 in terms of the magical quality if you have actually very similar these 2 in terms of the magical quality if you have access to Unlimited Money and 0 percent Interest Rate youre going to try to do Something Like dominate us to Unlimited Money and 0 percent Interest Rate youre going to try to do Something Like dominate the global taxi business youre going to try to dominate the Global Energy business youll try to dominate the global real to global taxi business youre going to try to dominate the Global Energy business youll try to dominate the Global Real Estate market those are stablished businesses you want to dominate them because youre literally being a slave market those are stablished businesses you want to dominate them because youre literally being given unlimited financing at almost 0 percent you havent unlimited financing at almost 0 percent. Call costs so if you settle no if you hear if youre in mexico people math yet. If youre a psychopath youd say you know what i want to be the number one realtor or on planet earth say you know what i got when i was a big 3 they say the number one risk they will fall or errors on planet earth is 50000000000. 00 to water all streets and go take out some long to say well heres 50000000000. 00 and go take out some long term leases all over the world to become the number one Property Owner in the lease or term leases all over the world to become the number one Property Owner in the lease or not owner for a bit and then try to rent it out on a short term basis and 0 not owner for a bit and then try to rent it out on a short term basis and 015 months later its not worth 40000000000. 00 or 50000000000. 00 its actually maybe worth 2000000015 months later its not worth 40000000000 or 50000000000 its actually maybe worth 2000000000 according to one analyst going to 000 how predictable is that according to one analyst going to 0. How predictable is that what are you predictable if we only go for the magic if we believe the magic story if we were very predictable if we only go for the magic if we believe the magic story if we lose the capacity to actually produce bluejays that can. Actually capacity do to us and actually of our food lose the capacity to actually have a say in. How i was housing using improper property of opportunity make it more like a food more and our agriculture industry would mark an Agricultural Industry like it is it is costly to produce protein but weve like it like. It does cost reduced protein i must say that weve that weve done with on the sewer and saying gas namely that when and with fracking is that we pretend we can have a burger and gasoline and with fracking is that we pretend like we can have magical food that provides all these ingredients and nutrition theres no magic of magical food that provides all these ingredients and nutrition its not magic its the kaiser report but max and stacey dont go away well be back after the its the kaiser report with max and stacey dont go away were back after the. Visit our good. Friend of the president to the city back to the better that is the center of the. United states didnt seem real. Good. To move goods worked at. The cia and you. Us military were engaged in the attack on the us overt military were in good hands stands really 3 quel over the world out there and really throughout the world. Where they were assassinating populist leaders they were backing up the right way military where into those who were assassinated the funding of populist leaders arms being and they were us was backing up rather the military into those theres no phones functioning in our means and thats what todds and there is no more posts anymore because theres always a small cult of people for or really really good this because theres always a small cult of people for or really really good this control profit. Control profit. What politicians do something. What politicians do something to. Put themselves on the line and they get accepted or rejected. They put themselves on the line and they get accepted or rejected. So when you want to be president or injury or summed up to. So when you want to be president or injury or somehow want to be rich i. Have to be right to be cross as a wife and i want to be rich i. Have to be right to be cross as a white woman for 3 in the morning cant be good that im interested always at all 3 in the morning cant be good that im interested always in the waters about how the. Question is a. Question. Think the. Think the. Thing that the. Think the. Thing and. The thing. Welcome back to the kaiser of time not. About accuracy because i asked about the time im not clear a turn or a conversation with the me of club or a lot. Of dot dot dot com explain. It to him but if you get great image to be weeks if youre only getting the next year over in St Petersburg in russia we the year we were talking about really were in St Petersburg in russia we. We were talking about really whats happening the Global Economy weve got the ascent of china weve got the ascent of russia whats happening the Global Economy weve got the ascent of china weve got the ascent of russia weve got the u. S. Seemingly twiddling their thumbs youre talking about russia and weve got the u. S. Seemingly twiddling their thumbs youre talking about russia and china pretty much as centralized governments just. As centralized governments you use a phrase stalin ism 2. 0 and you know as an american. Stalin ism i look what it is and i know said ok and now i would go as a direct think arc that in a decent as approach that we have i look at this and i say ok i would think that a decentralized approach that we have in america is is something to pursue but clearly the u. S. Model is break out in america is is something to pursue but clearly the u. S. Model is breaking down for various reasons so weve got to get a perspective your perspective i think is extremely king down for various reasons so weve got to get a priest but your perspective i think is extremely valuable here we want to continue and i just want to ask you also you know any valuable here we want to continue and i just want to ask you also you know its interesting happening in germany dimitri. Despite threats of sanctions just interesting happening in germany dimitri despite threats of sanctions germany is embracing chinas cheap 5 g. Technology the u. S. Army is embracing chinas cheap 5 g. Technology the u. S. Says no 5 g. Technology and you know germany seems to be like a swiss no 5 g. Technology and you know germany seems to be like a swing vote here between this struggle between the u. S. Vote here between this struggle between the u. S. China and Russia Germany it know if they could theyve been a u. S. Ally and Russia Germany it know if they could theyve been a u. S. Ally they could be up for grabs they could enter into that alignment with right they could be up for grabs they could enter into that alignment with russia china dimitri what do you think its difficult for germany because they have such a china dmitri what do you think its difficult for germany because they have surrendered a great deal of their sovereignty to the United States after world war 2 and then surrendered a great deal of their sovereignty to the United States after world war 2 and then is germany of course ceased to exist and its sovereignty went over is germany of course ceased to exist and its sovereignty went to over to the United States as well so theyre not really in charge of their own affairs but up to the United States as well so theyre not really in charge of their own affairs but on the other hand the americans are so asleep at the wheel right now that you know when the cat on the other hand the americans are so asleep at the wheel right now that you know when the cats away to moscow the mice will play and so the germans do end up doing a lot of this a way to moscow the mice will play and so the germans do end up doing a lot of things that americans dont necessarily approve off just building lots of factories in russia thanks that americans dont necessarily approve off just building lots of factories in russia. So i think that germany could. So i think that germany could get closer and closer to russia as the United States drifts get closer and closer to russia as the United States drifts farther and farther away on terms of technological lead you know 5 churns further away on terms of technological lead you know 5 g. Is just one example there are lots of others were. Both e. D. S. Just one example there are lots of others were. Both the United States and the europeans have lost their edge Nuclear Energy is that it states and the europeans have lost their edge Nuclear Energy is is one of them for instance americans no longer know how to enrich your it is one of them for instance americans no longer know how to enrich uranium they rely. On russia to do that for them and france to some extent but russia is by far the foggiest along and india they rely. On russia to do that for them and france to some extent but russia is by far the foggiest along in in that in that program they also have failed in that in that program they also have failed. They lost a clean up lots and states the cooked up belittled and states will build not react. On time and within budget all of their projects latest projects on time and within budget all of their projects latest projects have been complete disasters the United States has 100. 00 nuclear said than complete disasters the United States has 100 Nuclear Reactors addison quater a lot of the electricity is adequate these are vital a lot agent to get the outlook to. Its a growing city and these are all aging out theyre going to be shut down but they dont know how to replace them shutting up that account but states dont know thats an. Ice in America States doesnt know how to build icebreakers anymore its been decades since they built one o. The people who new are standing with or built. Since they built one well the people who knew how to build one are the rear door to your door. Is your ts crossed. Out of a static states has stands no chance that in terms of it checks and splitting it. Into our terms ticks of. A ship which is arctic you know the arctic is thawing out so a lot of the law conceptuality russia which you know the arctic is thawing out so a lot of opportunities there and the americans wont be able to make use of them not only is this american and the americans will be able to make use of them not only is this american bigotry toward russia kind of circa soviet union times and bigotry toward russia kind of circa soviet union times but america perception of russias financial prowess and manifest but americas perception of russias financial prowess and manufacturing abilities etc are as also completely out of date i dont think people who are staggering abilities etc are as also completely out of date i dont think people understand that for us of economy has been thriving in our alongside and that for us of economy has been thriving in no alongside china. And this is the tragedy of all this china. And this is the tragedy of all this is that theres just a lack of information in the us if i watch cable news im i looks like a model is that theres just a lack of information in the u. S. If i watch. Abled is im i looks like im watching a russia soviet t. V. From the 1950 s. Theres been no updating to anyone fire ching russia soviet t. V. From the 1950 s. Theres been no updating to anyones files over there c. N. Be say and basically a. B. C. Sells over there today and they say they live and base completely a bit lazy and they are living completely in the past i want to kind of talk a little bit about these waves of economic past i want to kind of talk a little bit about these waves of economic protests been happening across the world from chile france spain iraq lebanon haiti the protests been happening across the world from chile france spain iraq lebanon haiti mostly to do with austerity high prices economic mismanagement a mostly to do with austerity high prices economic mismanagement is there a bigger story going on here oh yes theres the whole industry is there a bigger story going on here oh yes theres the whole industry in fomenting use revolt in various countries around the world it works through various western n. G. O. S. Social Media Companies are in fomenting use revolt in various countries around the world it works through various western n. G. O. S. Social Media Companies or involves. A lot of other garc sir are throwing money at it involves. A lot of other garc sir are throwing money at it this is a way off a flight in economic backfires in order to this is a way off a flight in economic backfires in order to trade any extra cash towards the Financial Centers in london that washington drain any extra cash towards the Financial Centers in london that washington so basically if for it they would bomb a country and steal its gold they could so basically if for it they would bow mco. Trade steel its gold they did that to libya as they did that to iraq. They stole you crates gold cetera to libya as they did that to iraq. They stole your crates gold cetera just to basically prop up this western bubble economy scheme for a little just to basically prop up this western bubble economy scheme for a little further for a little longer now they cant even afford to just do a Bombing Campaign so instead for a longer now they cant even afford to just do a Bombing Campaign so instead they sacrifice a young people off one country after another you know that they sacrificed a young people off one country after another you know thinking that you know this is the meat generation not the milk generation because financially theres thinking that you know this is the meat generation not the milk generation because financially theres no way to milk these young people so what why dont we just. No way to milk these young people so what why dont we just go ahead and sacrifice them and you know this is just a way of cars go ahead and sacrifice them and you know this is just a way of causing capital flight. Knocking various economies out so that they cant compete for increasingly scarce think capital flight. Knocking various economies out so that they cant compete for increasingly scarce financial resources. You know this is this is a very nasty financial resources. You know this is this is a very nasty thing thats going on it has very little to do with with corruption as i like to say the United States is the thing thats going on it has very little to do with with corruption as i like to say the United States is the most corrupt country in the world because their corruption corruption has been legalised the most corrupt country in the world because there. Corruption has been legalised its coke lobby all other countries in the world are less corrupt than the United States so coke lobby all other countries in the world are less corrupt than the United States so western inspired Anti Corruption drugs here and there and everywhere you know western inspired Anti Corruption drugs here and there and everywhere you know effect thats just propaganda thats just a rabble rousing kind of effect thats just propaganda thats just a rabble rousing kind of approach when you say the us is the most corrupt nation they id love to be able to argue the roach when you say the us is the most corrupt nation they id love to be able to argue thats not the case but then i remember jamie dimon over there j. P. Morgan being processed thats not the case but then i remember jamie dimon over there j. P. Morgan being prosecuted and investigated for racketeering and massive multi 100000000000. 00 of fraud hated and investigated for racketeering and massive multi 100000000000. 00 of fraud its hard to argue what youre saying you know you mention that but its hard to argue what youre saying you know you mention that the Financial Centers london and new york are the centers of this global the Financial Centers london and new york are the centers of this global corruption and i think about russia russia doesnt have that kind of a corruption and i think about russia russia doesnt have that kind of Financial Center is gotten its kind of like divorcing its own anshul center is gotten its kind of like divorcing itself from the financial ization of the Global Economy by buy off from the financial ization of the Global Economy by buying hundreds and hundreds of tons of gold you know theyre going is russia going to come out with a gold backing hundreds and hundreds of tons of gold you know theyre going it is rough. Youre going to come out with a gold backed currency i realize this is a bit of speculation but it seems like russia maybe russia and china a currency i realize this is a bit of speculation but it seems like russia may be russia and china are going to come out with a gold back or partially gold backed currency or china are going to come out with a gold back or partially gold backed currency or china has been speculated well now theyve got 20000 tons of gold which is more than anyone has been stance by that i q lated well now theyve got 20000 tons of gold which is more than anyone understand that they have or might have is that is that going to be we you know you wrote the callet i have or might have is that is that going to be you know you wrote the collapse gap and is as up at the can on the hand grenade that and is that the pin on the hand grenade thats going to be pulled thats going to put a dollar. Into the fits a little going to tell puts but the dollar into a fatal tailspin the death dive is that somebody is going to announce a gold backed currency dmitri i didnt a death dive is that somebody is going to announce a gold backed currency dmitri i think the strategy both for russia is to get a list the tragedy of the paralytic and for us for china you know is to let the americans do it oh to themselves by themselves. I wont be any whoa to themselves by themselves. I wont be anyone but themselves to blame. The americans are following along with this program really well with a program of some sanctions limiting peoples access on but themselves to blame. They americans are following along with this program really well with a program of sept sanctions limiting peoples access to dollar transactions threatening to cut people off from the Swift Network for instance to dollar transactions threatening to cut people off from the Swift Network for instance. That there is a basically simply i sucked right through the branch of the president which on star when. Theyre doing it i dont think that themselves nobody has to help them now what russia and china will do is continue cells nobody has to help them now what russia and china will do is continue to do trade between the 2 countries and with other countries you have to do trade between the 2 countries and with other countries. For imperius other trade consortia based on local currencies. Form various other trade consortia based on local currencies there is currency swaps will be backed by gold get gold guarantees there is currency swaps will be backed by gold get gold guarantees if you will just to stabilize things to make sure that its not just a perk if you will just to stabilize things to make sure that its not just a perk but thats probably all its going to be and of course nobodys really interested in but thats probably all its going to be and of course nobody is really interested in major financial destructions which will occur but they will be produced by the major financial destructions which will occur but they will be produced by the United States acting alone a money for a while and i know that you have a background in engine out of states acting alone a money for a while and i know that you have a background in engineering you know what you think about this boeing 737 scandal the other player. You know what you think about this boeing 737 scandal the other plane they are outsourcing software to minimum wage workers in india while they are outsourcing software to minimum wage workers in india while the executives are buying back billions of stock for themselves and making a killing and the executives are buying back billions of stock for themselves and making a killing and you know that seems pretty. Up to me did you take a look at that what it what do you think its really miserable you know that seems very corrupt to me did you take a look at that what it what do you think its really miserable how the engineering culture in the United States has decayed bill how the engineering culture in the United States has decayed and its really adequate such an issue its really is it a charge of business mr quinn best of finance true is it or is just that businessmen the financiers or the engineers the whole mindset in the United States is you basically have or the engineers the whole mindset in the United States is you basically hire and fire and she nears average fire and she did it piers to do adds up needed to do it or to protect jobs if you if i didnt mention here who is cheaper in india than you hire should i enter her house to meet people and if youre interested in then you are other either and you know heres other engineers will tell you to. Look this is just something. It doesnt. Somehow a paradox up all about about money none of it has to do with the characteristics of a now physical nonsense as have just said well jail it with the characteristics of a physical systems at all and basically its a prescription for disaster because money money meant didnt and basically its a prescription for disaster because money money men do not understand engineering to the extent needed you know to effectively manage it now what the chinese and the russians do is they promote engineers to points off risk but understand engineering to the extent needed you know to effectively manage it now what the chinese and the russians do is they promote engineers to points off responsibility executives responsibility they dont just hire money to do that john civility executive responsibility they dont just hire money to do that job i love your point about mill. And meat you know theres. I love your point about milk and meat you know theres you can milk this next generation well as paul krugman would suggest that we only all the dead doris look this next generation les paul krugman one suggest that we only all the dead to ourselves he says are just be milking the the youth until they can no longer be belt dollars he says he just be milking the the youth until they can no longer be belts and then their meat in the case of the us all the student debt has forced the students and then their meet in the case of the us all the student debt has forced the students now to go off for their meat as military conscripts out to go offer their meat as military conscripts to go fight people there even know who theyre fighting its just a generic war that to go fight people there even know who theyre fighting its just a generic war that they go out and try to pay back their student debt and certainly a see that happening they go out and try to pay back their student debt and certainly a see that happening let me eat you know i guess then another good engineer another question. Then just its they get a lot of Interest Rates you know last time we talked theres no such thing existed and i had never been contemplated in the history of us time we talked there is no such thing existed and it had never been contemplated in the history of the world this is an engineer. Some to one or a lot of the this is an engineer. Something going on the financial engineers here negative Interest Rates isnt crazy when you think about this with negative interest natural engineers here negative Interest Rates isnt crazy when you think about this with negative Interest Rates will become these financial and to poach to hop around on their heads you know traits will become these financial and to poach to hop around on their heads you know where a to borrow. We are fight for saving. That were paid to borrow we are fight for saving. Its its insane and it will go on for any length of its its insane and it will go on for any length of time because basically they tell us simply had to because what participate. Isnt creating the incentives for participating in any kind of a banking skinny cunt of a bank being scammed. If you have if its going you have kind of left is kind of force like the 4 parts there is like ok there is you have to have serious you get your secret or your credit card for every setting. For every oh youre a somebody has to be in this financial mess the chip mission with all your body has to be within this Financial Institution which will slowly confiscated over time. Who is going to go which will slowly confiscated over time. Who is going to go along with along with it thats who for any length of time who will put out what hell thats the length of the concept will put out with that sort of nonsense so its just a question of time theres a lot of social in their ship people will you know so its just a question of time theres a lot of social in their ship people will you know because theyre losing a little bit of money at a time right now. You know because theyre losing a little bit of money at a time right now. You know theyll put theyll put up with it for the time being but you know i did some like socal put put up with it for the time being but you know i did some like Straight Line project projections in terms of ever lower Interest Rates Straight Line project projections in terms of ever lower Interest Rates and if you just like plotted out it turns out you know it looks like were going to add if you just like plotted out it turns out you know it looks like were going to have to have ever more negative Interest Rates thats what a lot of guests of ours are saying would have to have ever more negative Interest Rates thats what a lot of guests of ours are saying and we got to go quick question how long would it take me to grow a beard like that you got to go quick question how long would it take me to grow a beard like that 3 years thank you adam major for being on the kaiser report thank you right. Heres thank you adam nature for being on the kaiser for thank you thats going to do it for this edition of the kaiser report with me next kaiser in states where i want to thank you well thats going to do it for this edition of the kaiser report let me max kaiser in states where i want to thank our guests matri our law if you want to catch us on twitter its kaiser report its a nice time by guesstimates we are law if you want to catch us on twitter its kaiser report its a nice time. During the Great Depression which. During the Great Depression which are old enough to remember there was most of the family were employed. There wasnt member there was most of the family were employed. There wasnt it was bed you know much worse subjectively than today but there was an expectation it was bed you know much worse objectively than today but there was an expectation that things were going to get better. There was a real sense of the coping for going to the bit. Of there was a real sense of hope. There isnt today to. Your country i want to show them that my the base of the 10 principles of concentration of wealth and power. Reduced concentration of wealth and power. Reduced democracy at tax so low down to engineer election simone crecy attack solo doing. Engineer elections manufacture consent and other principles according to no us manufacture consent and other principles according to no i. Just want to reject. The richness of the option. Thats what happens when you put her into the. Narrow short term of will switch is dedicated. To thats what happens when you put her into the. Narrow short term of will switch is dedicated to increasing power for chills just as youd expect one of the most into the one show it could do increasing power for chills just as youd expect one of the most influential intellectuals of our time speaks about the modern civilization of america intellectuals of our time speaks about the modern civilization of america. We have that is the oldest. We should was talking surprise us which was we was talking almost i was just. Me i was on the console of the one but that thought well because these are media people become different theyre going to console all of them but that thought well because these are media people become different there joe klein so no need to trouble myself about it ott so i wasnt real kind so no need to trouble myself about it out so i wasnt ready for that magnitude of things happening that when they began to flow of it madam its all things happening that when they began to happen it was the. Mind that the society as it is was waiting we asked what it sees valiantly or not it was the 1st old man that society as it was waiting to be asked what it sees value on clearing done job. Cooked additional what it was and how the ship was sort of the longest of 6 because it all just went to the longer some pieces you can just do what youre looking is not knowing. What youre looking is not known. To its name if you see im sure you have seen in my future notional post. Looked at with a showing of the blue sky when i. Looked with a showing at the. Time and he didnt look at the ocean ensure that it could be motion picture. But that its going to be a bit silly to believe. The boat full of shit too much been shipping. With me open up a new one the most of both both look at it through the process well thats a blessing in full swing have still had to do so you know so i dont know what the move. For. Her. Was the latest was in the us. It was the latest news in the pub us. Boys and you right there you have put. Boys in the right. So you have put this was the booster. Worser still isnt really still eligible for it. Worser still isnt really still eligible for it does it is. The reason. For it. For you. To treat. Them for you. Or from. The from. With a snap election on the way and they broke that extension in the back. With a snap election on the way and they broke that extension in the back of the u. K. s parliament finally starts talking about other things but the Prime Minister and the leader of the on the u. K. s parliament finally starts talking about other things but the Prime Minister and the leader of the opposition clashing over everything from russia and salisbury to u. S. Designs on the n. H. S. With the clashing over everything from russia and salisbury to u. S. Designs on the n. H. S. You know all the race to become the democrats. You know all the race to become the democrats 2020 president ial candidate in the us is growing ever tighter many voters still on this 2020 president ial candidate in the u. S. Is growing ever tighter many voters still undecided over put it back. Theres such a big push to just get donald trump out of office i did over put it back. Theres such a big push to just get donald trump out of office because theres a lot of confusion with the democrats and theyre not really uniting together just because theres a lot of confusion with the democrats and theyre not really uniting together to make one strong candidate. Also this hour facebook to make one strong candidate. Also this hour facebook suspends accounts it believes were russian and involved in a distant permission campaign in africa to spend accounts it believes were russian and involved in a distant permission campaign in africa