Wilson was a racist after president Woodrow Wilson signed the Federal Reserve act into law on the evening of december 23rd 1913 he told the men and women grouped around him quote i feel that i have had a part in completing a work which i think will be of lasting benefit to the business of the country so counsels a fair right counsel fed counsel culture news accounts look at everything not spend counsel up until now is meaningless unless you counsel both that unless your counsel said then canceling all those t. V. Shows canceling all those celebrities tearing down all those statues doing all those protests is meaningless with a capital m. You have wasted your life away completely you are a waste you are a waste if you dont counsel the fed if you dont cancel the fed then you have wasted your life its that simple millennial is jhansi baby boomers and gen x. If you do not cancel the fed you have been born into this world for no purpose and the fed of course thats what i had said in my tweet and this was this is a motto that has been going around for quite a few years a drive driven by mostly ron paul of and the fed. And so weve had it since 1913 and this is the systemic nature of this is that it is sexist it is racist it is classist by nature in terms of the fact that the fed pushes the can tell in effect here im going to say plucky this is plucky is cousin its actually Woodrow Wilson you know the spirit of Woodrow Wilson resides in here because he did create the fat he signed the legislation and here we are 107 years later and more adults than ever lived with their parents or grandparents so weve come full circle back to sort of medieval ages when you know extended families lived in one little tiny room with all of their livestock and absolutely shocking new report by a zillow this month estimates 2700000 adults moved in with a parent or grandparent and march and april as virus pandemic lockdowns crossed the economy yes a fractal because the globalization countries are no longer globalizing they are nationalizing starting a drop in 2016 that was the mandate make America Great again that is a call to the global audience and you say that more you know the fractal lovely scene out of the family unit where people are now living together you know in america they decry the end of the nucular family right the mom kids grandparents having a close relationship and this got atomized during the fiftys and sixtys in the seventys where the kids went out and they discovered themselves and they went abroad and they learned different cultures and it was all the birth television broke down the Nuclear Family and values collapsed and then the silent majority was all really upset because the values of america well now the values are coming back the families are all moving together theyre living in hobbles theyre scared out of their wits theyve clutching their crucifixes and theyre talking to plucky that worlds greatest economist so thats a good thing yes in fact what we saw found in the zillow analysis they found that 32000000 adults lived with a parent or grandparent as of april or about 10 percent of the entire population lives in their parents basement the highest on record this of course could also explain social media like a lot of. Adults living in their parents basements and they are still living out their childhood but with. The aggressiveness and anger of an adult and of course we see the Savings Rates has surged in america and partly its a lot of the free money that the fed and the treasury are creating and of course if you dont have any renter pay the bills to pay because mom is paying your bills and cooking food for you this this is part of that infantilization as well so at the end of empire you have a lot of crazy stuff out and you have giant babies wearing big baby diapers Walking Around you know leading the country and is the epitome of that hes basically hes like a dude that lives in his mothers basement this savings rate going up the way it is really goes completely against all the economic policies that are designed to stimulate American Economic growth right because American Economic growth is all based on aggregate demand and they employ keynesianism to get the aggregate demand just go into debt as much as you possibly can to to to buy to purchase to be a consumer to get the aggregate demand going but with the pandemic there is no pushing on a string there is no way to create a supply chain you cant print the supply chain the camp print job recovery the way you can print money so people are not consuming because were entering into into a depression and so its their savings and American Economy is not built for savings they have whats called the paradox of thrift they call the savings clot right they vilify savings and saving is better but of all those people with savings now if they converted 506070100 percent of the pick wind then they could become individually sovereign and they would save themselves but part of that savings club why that exists is because the you know the bottom 90 percent are spending all the money that they receive so theyre not saving as much as the top 10 percent. Which theyre saying as you know they tend to spend thousands and thousands of dollars a month on 1st class flights or hotels or you know gucci bags and things like that that theyre not able to spend right now because theyre a little bit more scared them rest of the population theyre sheltering in place and exotic you know in their in their 2nd or 3rd home and stuff like that but in terms of ending the fed and ending the situation of the wealth and income gap that we see in this week that is our independence week you know that the fed is responsible for moral hazard and why we are tearing down statues at the moment is this this notion of our new morals that our morals do not abide by all the the stuff that happened 200 years ago like we do not we do not agree with their morals and therefore were taking it down but now we have this thing called moral hazard whereby we have all of this risk in the economy and this is part of what we believe is destabilizing the economy yes theres the races and yes theres the sexes and yes theres all of that sort of that immoral behavior of our system but one of the biggest moral problems is the moral hazard and you see that in this next story because how were going to fix this situation amidst the pandemic im its a global uprising amidst all this other stuff and the lack of faith in institutions i dont know pressure builds for as c b s bailout and open letter to chairman of the Federal ReserveJerome Powell and secretary of the treasury Stephen Minucci and the group asked the central bank to devise a long term relief plan and the face of an elongated crisis though it did not specify a particular structure for any such plan this group is a group of congressional legislators who are now and they wrote saying these commercial Mortgage Backed securities which are sold in japan. In funds across america and under law its the new c. D. O. Member the collateralized debt obligation of 2008 we have these c m b s backing c l os that collateralized Loan Obligations and these commercial Mortgage Backed securities you know you think of all these malls you think of these half of manhattans real estate all the shops closed not only due to pandemic but also to uprisings so theyre looking for a bailout yet another bailout of their moral hazard system remember the movie the big short came out after years after the 2000 and Global Financial crisis and a talk about some prime some prime mortgages on the some from collapse in the sub prime contribution to the Global Financial crisis of 2008 others who came out the big short so a lot of people came up to me and they said back something inside big short real is that really did that really happen that people really know about it and they profited billions of dollars bet against the market that was right and i said sure thanks number one not only is it real but the whole thing playing out again in the commercial Mortgage Backed security market. And within 10 or 12 years they will happen all over again and they said thats impossible all theres laws right. Now and yeah this collapsing again then is the big short part 2 is the Global Financial crisis part 2 its the Federal Reserve crisis part 12 and its the depression part 2 so you know i wish we could get some different scripts this script is being over and over and over again its like watching sex in the city the same episode 20 times in a row its a bit boring but weve also often talks about this analogy of the black hole of debt in the black hole is sucking everybody in and sometime in around 2000 i believe we did pass the event arising and what weve had since then is this process of spaghetti for cation and time has changed as we get closer to the black hole and splatter hood because we you know Interest Rates went negative so time started to have no value we started to go backward in time some point at about 18 months ago then we had negative Commodity Prices with negative Oil Prices Energy shouldnt be negative but apparently it is it happened 2 months ago and now we have a situation where were also seeing the time compressed because they point out that the letter also listed worrisome c m b s Market Metrics such as the fact that the delinquency rate hit 7. 15 percent in may up from 2. 29 percent in april and is fast approaching the record of 10. 34 percent delinquent in july 2012 quote what took years to progress towards delinquency rates then now comes in a couple of months the letter said right well china will end up being the dominant economy in the world not because it will outgrow all of their economies but because they will be impacted the least by the global depression and america will be impacted severely by the global depression as well the u. K. And france and italy and horrible but china will be impacted the way least by the global depression so theyll be by default the world leading economy. Its a 4th turning end of empire rise of new another empire 3 cities each trap where were just saying over and over this is independence week but in a way we will get our independence once the empire collapse right because then we will no longer have a fed that rules the world and therefore creates all this moral hazard and bails out all these people who keep on jeopardizing our security and our safety and our well mountain while being with all of these fraudulent debts the c. D. O. As a c. L. O. Is to see m. P. s the Mortgage Backed securities all the stuff that keeps on terrorizing the population with boom and bust cycle is i think its destabilizing i think you see that you know theres no one thing thats causing the uprisings and its all of this stuff right lets change the name of Independence Day to dependence. All right well take a break and when they come back lets work up. To. The one guy you appear he was a may found him literally dead like this standing. Guard here his girlfriend they were found in their apartment that they just. Cuddled up and they were dead for like 3 days holding each other this wall so people who have lost their lives early to addiction yet this is from america. That crown is better known as the meth capital of the high and its a city where the number of drug addicts keeps growing every year. I came up when i was 14 my whole family were drug addicts. Throughout much of the 1990 s. And beyond and the doctors were encouraged and in some cases incentivized to overprescribe. I mean enough to sedate a small country when our usual sure about people all that stuff and we got to go get to the dead go crazy get you like you know what are you doing. And theyre still coming you know one after the next. Welcome back to the cast report im max keiser time to go to alex step out of amber app welcome alex and can you just briefly describe amber after us briefly really briefly its a big point accumulation at so its about 2nd sets were the 1st ones to do cost averaging in the world and were doing cool new stuff soon enough which is going to take dollar cost averaging and put it on a net serial instead the good kind of carrots that i cough people can check that out now let me ask you this this weekend is Independence Day in america a celebration of our independence from monarchy or taxation without representation and the bank of england today we have drawn a capitalism never ending bailouts and some hyperinflation on the way what happens next its really interesting im listening to a book now called but you know the great course is serious they do all these universities courses and one of them is on why economies rise and fall and theres this monkey you know its im going to hear is a large word intellectual youre. Teaching people economics you know. And so you know to talking about how. You know. What spawned the rise of economics and really you know it started before america really started with the rise of the merchants in western europe you know now to learn u. K. And it was when some months were able to. Agriculture really start it up and people were able to. Do farming and produce food more efficiently and therefore have time to do other things now as that potential rate at those countries became richer traveling but then you know the classic rise states during that period alongside the monarchy. The thing or stealing from it will be taxes and you know all you know all of the things that we literary and the big one is a century against and on and we had people you know run off to the new Promised Land and. Establish a new place where people could live free of these. Days original financial terrorists or these original rulers to try to you know take the wealth that people are creating and you know we they went and created this place called america which was which is fantastic because you had this place built on libertarian principles and. The acceleration of economics based on you know free market quote unquote wild wild west saw a place go from nothing no history to becoming a worldwide economic power in 100 years that goes to show the power of people coming to voluntarily being able to do something but then of course you know we had 913 and you know the federalization of the on the space of america which you know since then were seeing the ramifications of and and where im going with this whole thing is that. We. Were seeing you know peak state which probably started happening you know 2030 years ago with you know with communism and all that sort of stuff im not saying that communism started 20 years ago but thats sort of her collapse and we now have a version of you know quote unquote capitalism which is a blatant lie as she said socialize the losses of privatized games to reclaim sort of funny. But where i think it goes next to finally answer your question you know really matt is i think this thing keeps crumbling. I dont know if inflation is running when i think these clowns can manage to keep the can down the road for maybe another decade or 2 maybe 3 maybe 4 i think its 2 its to find within the system that what i love about bitcoin is in the same way as the Founding Fathers and as the as the people who 1st went to settle in america the same way they did they went to a new land they went somewhere fresh because you couldnt change the existing system from within the system coining and mabels us it it created instead of trying to change something within like police in texas doing you know trying to make payments with the banks and you know doing why its kind of stuff. You know they can says were going to create a new place over here something completely fresh something completely new something outside of the existing system that is voluntary that is opt in that is it allows people to come in and build wealth that is protected that at its roots has private Property Rights built into it mathematically not because someone said it is late literally in what were repeating what happened with america. 250 years ago level on a one to go with this but now on a Global Digital scale using math and i think this is this is now. The true independence is something that you know much small itll a foundation full you know the next couple of 1000 years you know its big a creation of the social contract which is something that goes back a few 100 years and it also was something that arose during the creation of the nation state because you did have a sudden lay wealthy class that was able to aggregate a large quantities of wealth and this. Prerequisite a need to come up with a social contract you know how well the governed govern those everyone in society and america was the great social contract in the constitution the bill of rights way the people and all this and unfortunately 240 years later its really gone back to a monarchy a club takhar say attack its not for sale of technocrats and so weve lost and you know america died essentially now big coing is the new social contract and the new social contract is mathematically algorithmically enforced every 10 minutes coins are distributed and that this social contract that is the vital essence of bitcoin is its bought into some folks almost perfect its almost the perfect idea of a social contract and the results are going to be what some call individual sovereignty yes so this is a quite a concept instead of having nation states and sovereign states will have individual sovereignty a when your thoughts to get a degree and you think like chills up my spine because i like it i think were living in such a special period of history like you know and the compass or anything but you had the Founding Fathers you know. Helped you know establish the constitution and create arguably you know the greatest freest land in the time right which unfortunately has devolved into like sort of. You know where were now at a time where we get to help establish this new this new place this is new Promised Land if i can use that terminology and. Amend it. What one of the one in one of the founding principles i think what makes it quite special and what youre talking about there with personal sovereignty is. In order for somebody or something or a group of people to be sovereign they need to be able to protect themselves and and specifically protect private Property Rights that sort of the foundation of being able to be sovereign in some way shape or form like you need to build yourself from aggressors from theft and for the 1st time in history. I mean because fundamentally when someone comes to steal or rob theyre looking to take your wealth of some sort now the easiest wealth to expropriate is generally just liquid whats money but you know they can also see you know goods. You know that they have around the house that fundamentally its dealing liquid money now. Bitcoin lowers the cost of defense and increases the cost of attack and it does so in a way that the data in the requirements for a group of people to get together in order to enable defense to deter attack is actually small and arguably down to the individual so as a result as an individual you know we have the ability to protect our. Personal wealth which is the thing that generally is. Aggressed against. With information with cryptography with mathematics and like it can be that like you need a gun. But its also happening at a time you know where technology is converging and really going to these Convergent Networks that allow single individuals to to have more i guess. Say or more control of the decisions they want to make in life which then also diminishes the need for the nation state to have to exist because again the nation state came about that the social contract the constitutional those things came about to protect private Property Rights on that social contract so that people can you know. Live work and to see happiness that phrase pursuit of happiness originally was a perk was the pursuit of private property or something to that effect yang through the pursuit of happiness so as you point out pick winners on confiscate a ball which is k a particularly for groups like black eyes matter who have had their wealth confiscated by the Us Government just like the american indigenous population had all their wealth confiscated by the Us Government you know unconscious capability is a key feature now they separation of state and money this is often the 1st time in history this is ever happened is big on the earth you are like. I havent read the full turning yet but i but i get the yes i get the sense that this is what its about but if you look back to history you had sort of the ancient times and emperors and some movements feudal times you know and all that and then through that we had the rise of the church which then sort of cleaned up and these social institutions the societies that we built now and the intent was always its not you know i dont believe that there was some guy in the background strings like that these are things that happen chaotically or. Or whats the word that they have been in a complex map so theres you know individuals all active and we sort of convergence some form a system to collaborate and communicate cooperate as as hellas chimps as i like to call invents so you know we we each time the system dictates or point where you know it was not on tional and you know too much precious things beyond and you know in the beginning the church was really a place of a promise that was where the Promised Land existed you know people were able to learn ethics you know have something to believe in that was larger than themselves and allowed humanity sort of to arrange it so for to to establish itself and move in the same direction which was quite powerful but as with all men maybe institutions they decay are the times that i had to have laughs. And you know the rise of the motion the rise of the nation helped write the on the all really the rise of science in the merchant helped separate church and state 500 years ago but now as weve mentioned this thing is decayed to the point where the nation state is the parasites in fact has been the parasite for quite a while now you know well over a century if not more and all it does is see. Us as individuals and its gotten to the point where. It is fundamentally detrimental it its in its death throes of its life cycle and. Perfect timing so she comes around drops off the most important invention of the last 500 years if not longer. In time for us to build a new foundation with like we discussed earlier private Property Rights at its core. To enable us to then rebuild Society Without trying to fix the should mosul that is. The nation state that ok alex sad great philosophical points thanks so much for being on the kaiser report understand then thank you for having me on i know i read about this stuff. Really gratian ok well thats going to do it for this edition of the kaiser report with me back kaiser and Stacy Herbert like to thank guard asked alex netscape if you want to get in touch with us on twitter its kaiser report until next time. We go to work so you straight home. Time after time called parisian to repeat the same mantra sustainability its very important to accelerate the transition to sustainable transport sustainability stabler manner more equitable and sustainable world. They claim their production is complete the hamas. Companies want us to feel good about buying their products while the damage is being done far away this is Something Else this must be going to mean and i mean look. This is the move me do me man im strong seemed to be best understood look at who is going. All these people dress that way and theres a lot more of this wall its all people who have lost their lives early to edition yeah this is from akron were just not going to treat our way out of this epidemic and the only way were going to eradicate it is through education and prevention and stop the kids from using because we have seen people go through programs 10 to 12 different times and go to treatment and just never get it and end up dying tog masseur is a former drug addict who now heads a private rehab center in akron ohio all the guys been working on this themselves so the one guy up here he was a house monitor at new Destiny Treatment Center and they found him literally dead like this ending up. A guard appear his girlfriend they were found in their part of that theyve just gotten. Cold and they were dead for life 3 days holding each other. Has a population of about 200100 years ago it was one of the Fastest Growing towns in the u. S. It was famous for producing rubber and count tiles and was even called the rubber capital of the world in the last 50 years the population has fallen by a 3rd and continues to decline these days akron is better known as the meth capital of ohio its a city where the number of drug addicts keeps growing