Oh either imax kaiser and this is the kaiser reports. Is there any and the bull market. There is no end to it. All news is good news and our markets since basically 2008 really since 2002000. The fed dont fight the fed for sure cant fight the fed because the fed will print and print in print and of course everything went up in 21000 as they pointed out and even assassinating the head of another state or a leader in another nation cannot stop this bull market but you know here is the chart that was quite interesting i thought telling you know as soon as the u. S. Did assassinate sell the money in iran well he was in iraq but they remain in head of their military Division Gold crude and big coin as you see they all spiked at the same exact time with the same movement is there then we have gold and oil and so they all went up together safe haven well a couple things so because it is proving itself to be a safe haven like goal so bitcoin a store of value and safe haven as weve been saying on this show for 10 years finally the markets coming around to that point of view the idea of big oil as a medium of exchange you need to emphasize the transaction ability is false and thats why Something Like that coin cash is a nonstarter however lets look at this other idea you talked about 2008 what happened in 2008 while the markets were constrained somewhat because of the plumbing of the way markets work the pipe that delivers cash or liquidity from the. Until banks are the primary dealers to wall street to commercial banks is somewhat well known in terms of the architecture involved there in 2008 so with tim geithner and ben bernanke and all those president s men they decided to expand those pipes to be 23040. 00 times bigger to accommodate much more money printing and were still seeing the benefit of that because they went ahead and printed almost 20. 00 trillion fresh dollars that they swapped with banks for their junk and they put that on the Balance Sheet of the fed which town has many trillions of dollars worth of junk as do all Central Banks around the world the question is how fat are those pipes can they another 20 trillion and joan and i posit that they can so were this is not a long way to go in these wars only stoke the money printing which means much higher prices yeah of course in the you know dropping bombs just waste money right there over 100000 each misao and that sends some of our inflation overseas but i think now that were now officially in 2020 all he does is of course look at the stock market thats his entire gauge for all that he does so anything to keep the stock market up thats why youre going to see now not only do we have that china trade deals on no its off yes its on no its off because of course its it hes trying to manipulate the prices on the stock market send some sort of investment move here the same thing we see with this war its going to be war is on worse off or is on or is off i think for the next few months leading up to the election youre going to see that sort of thing because you see this wall street rallies around war threat work khana me rages on because remember the markets fell right after the monday after the weekend assassination of solomon e. But then they soared towards a. Of the day and that was because of that letter that was fake no it wasnt fake its real no its not were not really leaving iraq remember that whole letter so you going to see more of that sort of stuff as we go on and its all about this these pipes that you talk about encouraging the fed to print more money because remember trump is also not only looking at the stock market but hes always looking at the fed and what shape jay powell is doing it hes not printing enough money and if hes not printing enough money for me im going to drop a bomb so he has to print more money exactly people always ask me about trump and i say its a new york thing trump is a new york this and he looks at the global picture and he sees the challenge in the middle east he sees iran doing a dance with their neighbors and theres like you know what lets just cut to the chase its just i got a guy in iraq and were going to get more money printing right away because i want to make my yacht he met this week and why folks around this is the new york way of doing things i said it when they 1st got elected its like i have a new yorker in the white house and having a new york around the world im a new yorker some i got to tell you i love it it just go to times square and look at the. In there and how crazy it is and youll see. Who are going to make them you know new york. You go to forget about it right so this is trump and its you know this is the way the world needs a new yorker and hes the consummate new yorker you know also i want to point out that in 2007 march of 2007 member general wesley clark said that the plan was that the u. S. Is going to invade 7 countries in 5 years ending with iran so at that time though and i want to look at these charts this is Lockheed Martin and raytheon so they provide all the aerospace sort of weaponry that you know we go at war from air now we dont send in troops because the population be against it if too many soldiers die but not until we actually killed general coffee in 2011 october of 2011 right then is. Here you see 20 years of records not much going on in defense contractors until that point because that was one of the nations that general wesley clark had said after a rock in and somalia and sudan and then it would be libya and ultimately iran would be the last one so i think people investors started to price it in as were actually going to go to iran so theyve known this since then i believe thats my interpretation markets are discounting mechanisms and they tend to discount the future and so you see a stock chart like that and you can tell that yes the markets are starting to tell us that in iran invasion or and then ran event during war with iran is imminent so that was telegraphing this months in advance and the defense contractors theres no greater waste of money right there are no. More inefficient corp and theyre more inefficient that Hollywood Studios to give an idea how inefficient or lockheed or raytheon are and thats a brilliant if you want something out there thats sucking up half of every tax dollar collected in america half of the 3 trillion or so collected goes to defense contractors in america and if you want to print another 5610. 00 trillion dollars let these guys loose and just let them go out there because its going to require another 10. 00 to 15. 00 trillion of money printing i mean the stock markets got another 2030 percent to go on the upside despite their low ratings this is good news for m s n b c because remember you know many of their commentators on there are actually former defense officials former raytheon Lockheed Martin executives former intel cia f. B. I. All these are the people that are pushing war so this is good for them of course Lockheed Martin certainly i think also raytheon take out ads against these important shows pushing people you know to accept war is and this is always back in world war 2 this is to paint pictures of pin ups on the bombs you know that anybody able wasnt going to get in. Were going to gable cutter now they put Rachel Maddow or a so you know i want to also say as you point out this money printing because there is the other war and thats the financial war the economic war the class war against the bottom 99. 9 percent suffer the consequences of not only the war in the middle east there the soldiers that have to go over there but also the war. To maintain the zombie banks and the zombie economy is the money printing because remember again this week weve had the fed doing more emergency repo nobody knows whats going on only a few in the war room know which banks or hedge funds or and titties are in trouble well the fed plans to consider permanent ways to keep money markets stable remember how we always like go into iraq its going to be temporary afghanistan is going to be temporary yemen is going to be temporary and then we end up with these permanent bases how i dont know how many bases we have in iraq this this whole notion of like were going to leave were going to stay were going to leave were going to stay were going to leave were going to stay were still in germany 60 something years later this is now what started as a temporary measure is a permanent measure but this is again a new york thing right there instead of saying the thoughts and about and say maybe were going to raise rates for a were going to lower rates maybe we need to be prudent maybe we need to think about wages maybe we thing but the economy maybe we have a job to do you know theyre like you know were just going to print money out in front of it were going to open the spigot and walk away theres no policy theres no economics there are no economists we just open up full blast and walk away thats the way of do it youre right in the wall street salesman you just got to get them to answer the phone or open the door you stick your foot in the door and say im just going to take a minute of your time if you dont like this vacuum cleaner i had to sell it to you you can just kick me out for you get in there and he schmooze them and you sell them on this and then it becomes permanent and thats what theyre saying this is a permanent situation well the fact in cleaner cells one famously barges in sadar and then throws a bag of dirt on your floor yes and you know you need him to clean up this dirt and by the time hes cleaned up the dirt he has sold you a vacuum so the fed is saying were going to dope a ton of money. In from the item into the economy itll. Create malinvestment it will create defense contractors roaming the world bombing innocent civilians for in for giggles for fun just because they look their their fancy houses in the outskirts of washington d. C. And then once theyve followed these places then theres the they dont those countries like iran or wherever theyre like oh my god this is terrible lets do Something Back and theyll blow up a building here or theyll blow up a building there and then they you also say oh my god were going to print more money and we got to say did we were right so its a selffulfilling prophecy of money printing and by the way australia is expendable you mentioned hollywood earlier and they say that d. C. Is hollywood for ugly people so the fact that what were seeing and the past. Few days a week last week and we can have is team america you know thats why they could they they reflect each other l. A. And washington d. C. So you saying like you know you cant get this out we trashed your country we destroyed babylon and you know what if we kicked us out youre good at the pay the billions of dollars that we spent trashing your country or were going to destroy these art of your cultural artifacts well all of that was predicted 15 years ago under bush you know with team america so this is a reflection of each other they they act like theyre so high and mighty in hollywood as ricky gervaiss a point out and he said dont make political speeches because you have no right to because they are the same because most people in washington and in the liberal media elite the New York Times Washington Post c. N. N. Are informed almost entirely from south park the simpsons and bad hollywood b. Movies thats their source of education thats their view of the world Anderson Cooper knows what he knows by watching south park and he comments about this nightly on c. N. N. Is there any wonder then that were just bombing people to get money printing so that we can then get them to hit us back remember they have to hit us back the other countries have to have both of us now so that we can justify what we just did if were going to print more money to keep the stock market rolling thats a necessity of chorus very poor only here did you hear you can taper a ponzi so we had said this back before the fed tried to taper the ponzi and by raising Interest Rates i remember jay powell when he raised rates in 2018 in december cause the huge crash markets fell by almost 20 percent and then he turned on the spigot again so this is they admit it in this article but the permanent facility another way the fed has been managing Interest Rates is by growing its bond portfolio again the central bank. Says its purchases arent economic stimulus and that its renewed purchases are meant to correct the excessive reduction of its Balance Sheet size again like i said we look for this Going Forward remember where leaving iraq now were staying in iraq the statement from the department of defense is like we dont expect iran to retaliate for this but thats why were sending thousands of troops there because we expect them to like they say all i want they all do fed speak now right and who was the audience that some sot when he droned this guy dead in iraq jay powell anyway were going to take a break when we come back much more coming your way. Seems wrong. Why dont we just dont call. Me. Yet to see how it does the county council. And in detroit equals betrayal. When something find themselves worlds apart we choose to look for common ground. Welcome back to the kaiser report imax keyser time now to turn to michael pentode of bento port dot com michael welcome back thank you for having me max and happy new year to you weve got a lot to cover here michael gold rocketed on trumps war in the middle east other than these sort of black swans however what is the case for gold at the moment if any michael well it is really a goal never changes marriage is always a mirror the direction of real Interest Rates and real Interest Rates are flowing and therefore when get it financed the rate is here to the to that the fact that our annual deficits are now a trillion dollars and growing much higher theres a green time to buy gold oh by the way the dollar is also in a topping phase those 3 conditions spell your better own goal all right fair enough lets move on how are you positioned at the moment in terms of defense stocks our defense secretary mark s. Burroughs was previously a lobbyist for the likes of raytheon and Lockheed Martin your thoughts on this sector if we go full blown war much bigger than just the recent iraq incident. Well id say i mean ive owned aerospace and defense stocks in the portfolio for the past 6 to 8 months in the portfolio its a 10 percent is ition so this is not a new position for me at all they are not massively overpriced you know the entire stock market is massively overpriced and shes hard for me to imagine that were going to cut back on defense spending where we could have the whole middle east into complete conflagration so i mean if you want to look at something thats recession proof and something that of course republicans love and even some democrats and the deep state are enamored with completely its defense spending so thats you know thats something you really should have as part of your portfolio but i want to just add this really quickly max you know. 2019 was a pretty good year for stocks yes and p. 500 was up about 28 percent but people seem to forget that the 4th quarter of 2000. Was a very bad quarter for stocks as a matter of fact its been 500 lost about 20 percent in 2018 this 4th quarter of 2018 so why did stardust appreciate so much in 2800 it was all about the same thing it was all about central bank counterfeiting. The Federal Reserve. 500000000000. 00 ahead for a trillion dollars to its Balance Sheet from in september till today and they printed 57000000000. 00 just on january 2nd to make sure we had a nice kickoff in 2001 ok and then to money supply was growing at 3. 6 percent in the beginning of the last of 2 theres 18 it close less year growing at 7. 6 percent year over year annualized rate so please dont mistake me or you as a permit here i dont want money here ok i am not constantly shortstops or what i am saying. Is that the foundation of this economy and the Global Economy u. S. Attorney and the Global Economy is full it is fracturing because its pretty catered upon siskel and monetary minutes so i run stocks like this one their Money Management their luggage when i try to make money in all markets but are most concerned about preserving their principle and making sure we can make money when the real krrish arrives thats a calculation really i mean they did the move to take out this iranian fella in iraq obviously the they did the math and they figured that it would not upset the money printing in the u. S. To paper over anything any problems they might have geo politically around the world and i dont see for see any problem arising short of a meteor striking planet earth that would stop the money printing and they have room to print another 20. 00 to 25. 00 trillion so they have a long way to go on this runway and its great to be cautious but america at this point is proving that the u. S. Dollar can be printed in for an item and the rest the world has cant do a darn thing about it now michael what are your thoughts about the fed might do if the war escalates ive just stated that i believe that the matter what happens theyre just going to have enough room to print money but former chairman bernanke is recently quoted as saying we could go negative without causing harm so there you have it they could go negative well thats thats my point michael you differ. But i mean you know europe is this is not an experiment theres never been tried were in easy beat your b. Central bank has a negative Interest Rate and there banks are flow through it in very short a manner so i mean theres a 0 percent or negative Interest Rate killed anybody in the world as voters or Economic Growth is concerned no i mean how can a bank. Money when theyre paying interest on their deposits and essential bank i mean what and whats the spread between their loans but then there are causes and their loans are basically the same thing theres no margin Net Interest Margin then theres no way to basically make money if they cant make money they dont lend so they keep their money at a central bank and pay them to do it because people are saturated situation i mean look at it i mean lets just look at the corporate jets an area here in the United States and around the world lets just talk about the United States for a 2nd you know the i. M. F. Said that if we have a recession that is one half as bad. As what we had in 2840 percent of the entire 2 built worlds Corporate Bond market would be own but owed by somebody could ration its ok so corporations that dont have the cash flow to pay interest on their debt they have to borrow more debt just to service their debt 40 percent max what are we going to do in the next downturn thats why the Federal Reserve is going to be cutting rates in 2020 they only they only got a 2 and a half to adequately retreat to want to have their their panic about is. A more his inflation rate that they just cant get to 2 percent we have to be at your percent and way above it because we were below it for so many years you know thats when the mills this is going extinct back you know thats how one percent well of the wealth in this cut in this world now owns 50 percent of the of the well costs thats why the top one percent of the wealthiest people on this planet own 30 percent of the well and their wealth is growing at 5 times their Income Growth is 5 times that of this 3 way tiles in the middle class size times faster and ways that because Central Banks around the world are in history the middle class by bringing up Energy Prices by words by inflating their housing costs and their education costs energy costs clothing costs but the richest of us and among us own stunts and bonds and real estate and become wealthier and wealthier and that is why i may seem like a kermit bear im not im just saying that economic structure this is what you say to we point out that the sound asian underneath the Global Economy is predicated and based upon sand yeah but i would if i was a. Im a perma realist i mean they mention the top 20 percent their wealth growing at 5 times what the middle 30 or 40 percent is growing at but you dont i mean i look at the top 20 percent and i see an extraordinarily rapacious and ugly group of craven psychopaths look theyre willing to sacrifice australia on the altar of money printing right australia is the victim of Central Bank Policy and ignorance of what that does to your ecology and what that does to your economy theyre willing to throw australia onto the bonfire of their vanities what where will they end where will it stop it wont like all intel all the wealth is hold by 5 or 6 people and thats not going to stop nobodys going to stop it because none of these other countries are going to stop using the dollar because theyre cowardly lets move on you are invested in gold at the moment michael but in fact youre not a gold bug but what are your thoughts on the fan stocks facebook apple amazon that flexing google ok well 1st of all i mean mark will tell you weve been long russia we belong until it iis long. Long gold so you know were not upset here about whats going on were just trying to make money in all situations but i do think were you know you mentioned bank so lets just look at how explicit the market is so the peak of the mania in the y2k 2000 as they both wilshire 5000. 00 as a percentage of the economy to the wire at the widest measured stocks as a percentage of the actual underlying economy was 140 percent. So there is 152 percent of the underlying economy and i will submit to you that the underlying economy is artificially goosed by money that is free so the journey was much more the underlying economy was much more see back in the year 2000 and is in the year 2020 so so youre with your with an advisor has warned sang ok were you want to throw markers or facebook app or nams on google or you just long the s. And p. 500. 00 because you just got a dollar cost average dont you know. Youre in for a huge shock because what youre doing is youre only seeing the japanese nick i doubt in 1909 which is still down 40 percent 30 years hence and your owning chinese shares the shanghai shares in 2007 were just still down 15 percent. From 2007 ok thats what youre doing you words how ticking and ethnic bubble in u. S. Stocks and in you in u. S. Economic growth predicated upon free money which will its absolutely imploded when the Corporate Bond market implodes were being idiotic from the Federal Reserve achieves its 2 Percent Inflation target plus whatever number because you know they measure inflation at 2 percent its really closer to 8 right how would you like to buy gold the 250. 00 an ounce to where i was a 2000 well if you look at golf versus the global debt situation its cheaper today than it was at 250. 00 in 2000 you have never seen gold under this cheap in probably a 100 years relative to the global debt thats the other way to look at it but anyway michael thanks so much for being on the concert report and i will see you soon in new york i hope i hope so too max a little stacy oh yeah definitely and thats going to do it for this edition of the kaiser report with me max kaiser and Stacy Herbert want to thank our guest michael pent up tent o. Port that comics you want to catch us on twitter its kaiser report until next time by all. That. Good. At. Google. Live. Lists lists lists. Lists. And very well might continue watching on since last. Well welcome to worlds apart the formation of a Constitutional Committee for syria has been billed as a sign of hope for the long suffering Syrian People the people whose hopes for peace were dashed too many times over the last 8 years is there any reason to believe that this time around things will be different to discuss that im now joined by a. Former deputy special envoy of the u. N. Secretary general for syria mr ramsey its good to talk to you thank you very much for your time thank you very much for inviting me now you stepped down from this post a few months ago but im sure a motion
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