Max keiser this is the kaiser report i remember back in the days when we used to hear reports about soviet union and you know they were making too many tanks but they had keep making the tanks because without making all those tanks so theyve got a business lets see how this plays into the big picture stacie well we have a similar situation in america where we have you know so much debt that we have to keep on creating more debt in order to keep that debt market alive and thats all we have is that so we see the treasury market is now so large that the u. S. Central bank may have to continue to be involved to keep it functioning properly of course this is what happens with a commanding control situation and weve warned about it and its here right so the market for Treasury Bonds the thing that keeps the america afloat is been cut dramatically because nobody wants american Treasury Bonds and then the u. S. Federal reserve bank out in the business of buying its own u. S. Treasury bonds monetizing that debt and hoping that someday they would be able to as ben bernanke he said start to diminish their Balance Sheet in their own take 15 minutes that was years ago and its gone up by trillions and trillions cents then now theyre at the point where they have no option but to keep selling worthless u. S. Government Treasury Bonds and then of course having to print more and more fee out money worthless paper money to buy back their own worthless Treasury Bonds in this vicious cycle of just of self destruction and i read an interesting quote about empires empires never really die from without they always die from suicide and i think thats pretty much the u. S. Trade. They market in the us well the Founding Fathers indeed indeed did say that it believed was Thomas Jefferson who said that america would never ever be destroyed from abroad but from internally one thing that was established in the constitution speaking of the Founding Fathers before their totally memory hold were not really are going to be allowed to remember them but at the moment were see we still remember what happened with the founding of the nation and that we had the freedom of speech freedom of Association Freedom of Assembly Freedom of religion one thing youre starting to see and its really heating up lately is that they theres definitely a faction within america that doesnt not want people to be able to assemble online and communicate online to speak freely to each other online they want to monitor what youre saying to each other and make sure youre not having ideas that might make their life more difficult in terms of having to persuade you to join their party or vote for them or whatever so thats why you know its so important and i believe for all sides the sorries i myself like am pretty confident in my opinions and how i see the world that to hear somebody elses opinions or see their view doesnt shatter my fragile sense of identity as you see going on so i want to show you that you know m s n b c is one of the leading advocates of shutting down shows like our the kaiser report and the kaiser report by the way has been so far ahead of all the other competition of covering j. P. Morgans crimes remember we were covering out their Precious Metals manipulation years ago here in report back in 20102011 i think is the 1st time we covered that and sure enough the department of justice when they were about to charge him criminally for rico racketeering rigging Precious Metals markets what they pointed out was that basically a starter almost like a few weeks later kaiser report started covering and pointing out what was happening so to show you how m. S. M. Be. C. Has covered the morgan m s n b c Stephanie Ruhle films promotional spots for j. P. Morgan chase one of the banks she covers as a journalist so shes apparently done some online ads not on amazon b. C. But online promotional clips for a thing called chase chats and apparently its like all telling you how to save how to save right and as we started like Interest Rates are 0 percent heading toward negative because of all the crimes that j. P. Morgan and other banks have committed over the years so were still paying those and now theyre telling us shes having these commercials telling you hey why dont you its not often its you that is destabilizing the economy you dont save and you need to say it is 3 reasons why americans should be upset about this number one youve got a recidivist crime breaking j. P. Morgan that has a Business Model of keeping 75 cents of every dollar they steal as they themselves will tell you number 2 they will go out and they will coopt Mainstream Media to cover their tracks and they get people that should be covering their crimes to be doing online commercials for them promoting moral causes as a way to be see wash Mainstream Media wash their crimes number 3 by not seeing what weve been doing it cost me 4 cents 2010 going back to 2 12011. 00 you did not hear our coverage because of the dollar and now we go to a 100 Different Countries and we created hundreds of thousands of big point millionaires all over the world not so many in america because of the rossa phobia of the Mainstream Media and the censorship that went on here so the joke is on you my friends but i do want to stress that more than being like a big queen millionaire or anything like that the important thing is that you are not helpless youre not just sitting there a passive victim of the sort of. You know j. P. Morgan crimes that theyve had to pay a fine and get to walk away say you know its doesnt matter how much dollar wealth you have that freedom is more important and thats a good again what the Founding Fathers of america what i said that that you shouldnt trade anything for your liberty nothing is worth your liberty when i get that but ive already and now 20 years into it realize that liberty is dead in america except that i accept that jamie dimon is a crook and i am accepting that decline is a way out well i want to get on to this the important bit about stephanie rule on this not only is she the Senior Business correspondent for n. B. C. News and right here we cover business through some Financial News fight finance markets and scandal so with this is part this is all of it into one its a scandal finance and markets so shes doing this online as promoting j. P. Morgan chase but in rules case the questions are more than theoretical about whether there is a potential conflict of interest of when she is doing this work for jamie diamond on the side and then she goes back to n. B. C. News as a Senior Business correspondent well over at n. B. C. In august the m s n b c host conducted a lengthy interview on the network with chases chief executive jamie dimon about j. P. Morgan chase is an issue of the higher minority workers we have invited jamie dimon several times on to this program he has an attendant perhaps because he was under investigation by the department of justice i dont want to have to say anything you dont want to hardball interview he wanted a softball interview that would talk about his record on hiring minority workers but you know in terms of you mentioned ben bernanke you the former fed chairman Alan Greenspan did say he was willing to tolerate fraud in the markets in order to have efficient markets and liquid markets and he said this in a calm in a debate with Brooksley Born who was against the commodity futures modernization act which did see an explosion of fraud and the markets and she warned about that but Alan Greenspan Larry Summers and bill clinton won that argument they said that fraud was necessary. Here we are what were seeing is Mainstream Media elites are saying well were willing to offer so overlook fraud if you will hire some minority workers whoever the victim of that fraud is on the other side we dont know j. P. Morgan settled with the department of justice and paid a 120000000. 00 fine so we dont know who the victims were of the of the Precious Metals fraud who was on the other side of those trades that lost you know money to the trading desk at j. P. Morgan but whatever those victims the victimization of those people apparently is worth it if there is some minority hiring at j. P. Morgan well im one of the victims right because im a big buyer of Precious Metals name and i didnt pick that price discovery and you know im a victim and i should have as much say as a victim as anyone else in the society whos paying themselves as a victim who gets a nice film made about j. P. Morgan why cant jamie diamond make a film about maximizers victimhood why can i come out there and say all precious metal buyers matter because its just as important as any other aspect of our society is price. Transparency and price discovery thats probably the single greatest most important aspect of any functioning society is price discovery accurate crisis coverage more so than any moral or aesthetic or ethical. Kind of set of rules because without sound money without some prices coverage you dont have a society full stop so jamie diamond wheres the foam about max kaiser its long overdue you never come on the show you have made a film about me and youre recidivists nonsense a crow fine paying nincompoop you know i dont like all that so here is even reuters saying basically agreeing with what the kaiser report said and yet but we offer you the solution and the solution is to exit the system by a bit quaint and you dont need you join orange peel Podcast Group you dont need to be in. In this world that jamie dimon controls like its his its his Financial System and if you want to be in and participate and complain about his stuff then you should do that but you can exit and just say right jamie dimon you know you know what you could do but heres reuters despite j. P. Morgans record spoofing fine deterrence questions remain they dont think jamie dimon and morgan are going to stop that a fine is going to stop them from committing crimes and they go to better markets and industry watchdog recently published its own analysis on j. P. Morgans wrongdoing which covers a 20 year period until 2019 quote j. P. Morgan chase has a 20 year long rap sheet that includes at least 80 major legal actions that have resulted in over 39000000000. 00 in fines and settlements any other business in america with that recidivist record would have almost certainly been shut down by prosecutors long ago it said however d the large banks are effectively shielded against executive prosecution and jail time and thats an injustice and that injustice is felt ripples through the economy and how white people are by their social unrest it starts at the top if there is a if theres an untouchable class it always chuckles down eventually it might take 20 years in this case but its working right now but hes doubting that jamie diamond steals a right thats not in question that well what were saying here is that the government and the law makers have decided that when jamie diamond steals is good for society if some a looter out of San Francisco steals somehow thats bad for society but of course theyre equally bad i would posit and let the lootera keep 75 percent of every dollar they steal or make more tax all right were going to take a break when we come back lots more coming your way. Its seemed wrong. To me to be yet to shape out disdain become educated and in. Equals betrayal. When so many find themselves worlds apart. Choose to look for common ground. Americans love by and. This was a fundamental part of how our Political Leadership and our country at large understood the bargain you get a hope and then you know rebel right thats the things you dont revolt if you have a stake in the system. And be really interesting back and think about the longer deeper history housings men in the United States not just that question of the American Dream but the bigger question of who the dream is for. Rule welcome back to the kaiser report time now to go to parker lewis unchained capital hes written an excellent bit coin series called gradually and then suddenly the famous quote from the sun also rises by Ernest Hemingway parker lois walk on the kaiser report max thanks for having me on a im glad to be here and look for it just not for a bit youre right and i paraphrase that the wealth inequality and social unrest we see around us is largely due to the currency that currency is the input the economy is the output elaborate on this one of the ways that i frame and specifically want to talk about decoding is that the activity that happens all around us is a function of money and money as a medium is what coordinates all their Economic Activity and that oftentimes people think about a condom is converging on a single form of money i more think of it as economies grow out of or merge off of the common use of mind and everything about Economic Activity and its the way that we think about economics today in markets really emerge from the use of one for money versus the other way around and that what we see today in terms of incredible amount or id say extreme levels of inequality and growing levels of imbalance and ultimately instability in the Economic System is a function of the money that if were seeing that in the world and i think more and more people are recognizing that that is a symptom is a problem now very few people i think are see what the solution would be to that. It is actually a breakdown in the monetary beat in south that imbalance only exists and that imbalance only grows and sustain because the monetary medium itself continues to be manipulated so work we are told for the most part that the centralization of of economics and money. For example keynesianism. That form of economics is something we currently live on in america and around the world and other various schools whether its the modern monetary theory that there needs to be a centralized control of this money and the economics and what it sounds like youre saying there is that. The attempt to create as you say a policy in a school of thought around money is backwards that we need to 1st focus on money and then from that youll get your economics is there currently any model or school all that is close to what youre talking about i would say that the school of thought that would be closest to it is the Austrian School happens to be a school that that isnt taught you know kind of at least you know i have an economics major i was an economics major from the United States of becoming university and then when youre not taught the Awesome School so basically only one school of thought the keynesian and i really think of it as the keynesian the monitor is the monitor not modern monetary theorists they are all similar thought which is centralized control of an economy can help result in positive outcomes and i would say i would categorically reject those even though thats the way that i was in a very big school of economics and more realistically this precise principle than i would would 0 in on is the function of a crisis them within an economy and a racist merges from the the the common use of one currency in that the mere act of what the Central Banks do in manipulating the currency they cause the Pricing System to break down to create rigidity in that price system and they allow ballots to be sustained to be sustained be a monetary manipulation now weve got something happening in the world over the past 10 years and that is the ability to put in to practice what youre talking about there in terms of Austrian School of economics because this was. More of a theoretical concept than a practical one or one that we could try out however with bitcoin we now actually have the ability to put this into practice and im curious you know what your thoughts are here but it seems that what were discovering is all those who believe that lets fix the money 1st and then it cannot much follow us are now watching as bitcoin begins to go mainstream around that very principle is that is that what are your thoughts there next i think you hit the nail on the head there i love this idea which is theres theres theres multiple schools of economic thought theres keynesian. Monetarism i dont really consider modern modern monetary thought really a theory i think its like childrens play is just its just you know kind of johnny come lately explanation for unfettered deficits and really reckless monetary or fiscal policy within the United States thats enabled by the fed but i can sit here and i can spouse austrian economics and i can send you to the cows come home about why it makes more sense but what we have a decline is a market and thats the beauty of it that individuals and businesses all over the world they could care less about Washington School of economics for skins in School Economics theyre looking at 2 different forms of money and theyre making a decision as to whats 1. 00 which one works better for them and what we see in terms of the price of the rate going up and more and more people adopting is that when its put to a market test which is between 2 competing Economic Systems which i really think about the coin is more than just a current c its an Economic System it is competing the legacy system with each person incrementally chooses to adopt it and her 1st to hold it as a monetary medium rather than wait a secret now i should note that youre our ability to articulate these ideas and. The the writing that youve done got noticed by people like Michael Saylor who then put 425000000. 00 of his treasury over their micro strategy into bitcoin as part of his overall learning curve into this space so this is now. At a time in history when that migration of the hot alerts and the early adopters now to the Corporate Treasury has taken place and now other corporate treasuries are following suit. Is this an it to add another element or the discussion here is this an example of game fairy and if so were is that going i do think its an example of game theory because you know again if i come back to the economic principle i think about money as solving an intersubjective problem and that when when each incremental person is evaluating this decision its effectively becoming easier because more people have come before them that theyre looking at the equation when theyre trying to solve an inner subjective problem which it which i guess the solution is money is that everyones looking around and saying how my going to store value how we get in or mediated series of transactions and theyre looking at the properties in a jet of way of one monetary medium versus another versus another and because its an inner subjective problem of trade there are projecting out to say what what it works best for me and what works best for me is likely was going to work best for many many more people and as they do that as time passes then it becomes easier because if theres 100000000 people that have already come before you and your decision is easier than like you in 2011 you know making that decision before the next 99000000 came 99. 9 came and so i think when people like Michael Saylor make that decision and if theyre reading my writing also recognizing that you know i learned from someone like you and and something that really accelerated my my understanding was safe it was formative for me and that im not necessarily influencing Michael Saylor all these more resources and you add one on to the next they may be accelerate the process but someone like that its going to come to. You probably faster than i would have come to it just by the mere fact of the queen becoming more and more docked by more people that that decision with each incremental adopters easier test seems to validate this idea that hard money it tends to change the way people think because youre not inflating away your ideas. Not wasting time etc lets talk about an idea that you would hear coming from the other side of the debate and they will wrap that kind of curtis says im for perspective and something called wealth inequality because this is something that comes up often and people vote for politicians who say were going to were going to get rid of this inequality were going to spread the wealth were going to do this were going to do that again through a centralized means through a central bank 0 keynesian economic policies so to address wealth inequality if theres doing a speech in front of a folks on this how does it coing address wealth inequality parker 1st i would distinguish between wealth inequality and economic inequity and and another piece of that conversation has to come to the difference between economic balance economic imbalance and inequality and 1st from a very kind of course starting point as an economic principle that a quality of al comes is not the gold in any Economic System in that inigo all comes are inherently natural and consistent with economic bouts and what were witnessing today with the current economic breakdown brought breakdown in monetary mediums all over the world in the monetary mediums is that what were seeing is economic imbalance eats a state and when you have a role which economic imbalances sustain the the descriptive for the output piece of that equation is growing in a natural and extreme levels in a wall and net that really zeroing in on the economic principle is if youre living in a world of imbalance if the Central Banks function allows the imbalance to be be sustained and then broke that. It is extreme levels of inequality ground so kind of bringing it back this level of if you can sustain imbalance as a function of the monetary medium you would naturally have more balance and the consequence of greater balance within the condom is less extreme and all the so its not trying to solve for bitcoin must solve inequality its that because bitcoin as a monetary medium cannot be manipulated it will naturally allow imbalance to be eliminated rather than sustained in and i think that that is the economic principle to consider someones thinking about the consequence of our money and how it actually results in a more a greater level of balance and all the its that you know as an output not as a lets look at some hard numbers are so bad in davenport over a bit go he tweeted that 84000 bitcoin were mine in the 3rd quarter just cashed up square and micro strategy account for 169 percent of that grayscale accounts for another 70 percent. Now. How are we going to run out of it going i mean this is i guess theres 2 questions here because the price seems to be going sideways and i have my thoughts on that but because the available supplies being gobbled up by 150 percent or higher 200 percent river that the demand on the demand side of the curve is exploding prices going flat what do you think whats going on theres a very natural progression of price discovery and recognizing you know question i often times get audience i view i think this probably influenced michael sailors view when when the fed printed 3. 00 trillion dollars between march and june of this year and rip the bandaid off and people say well why didnt you know that that more than double the supply dollars in the system why didnt it i mean immediately dont and i think theres a reality if people are waking up to this idea it will have to go through their process for mill your eyes and sells with with because realistically if its someone like Michael Saylor 9 months of political or 8 months that when the connection is made versus the decision to plug into the rails of the coin to execute are 2 very different and equations and timelines and that one is causing the other but the precise moment of causing someone to buy and enter into that the integration is a very dynamic scenario situation so i think what the short answer is were not going to run out of it. That the that the inelastic supply of the coin is actually what creates demand and also comes back to this is a question of balance and imbalance in all the for some quality that if you live in a row or more big queen bee created that the only thing that the new entrants can do to get more current and i think about it as not just new entries but people incrementally adopting equip themselves and shifting a greater percentage percentage of their casual things over to that if they want to get more pick when they have to deliver value increasingly with a diminished apply to somebody that already has that went with the network at a. Value that induces that person to part with their beck when that causes the the price rises and so i think i just consider this decide ways you have right now is it natural function of price discovery of allowing to be an execution rails to catch up all right parker lewis thanks for being on kaiser report next thanks for having me on the ford hopefully do it in the future again sure enough well thats going to do it for this episode of the concert tour with me max kaiser and stacey erects like to thank our guest parker lois you want to catch us on line do it until next time. Immediate environment used to leak if you disagree with the official narrative youre told a conspiracy theorist never mind many official narrative actually more conspiracy and is big decade war with. Nato is a very nice show from president putin that i could have said no thank you or i could have said thank you and i said ill take it and now its time to introduce. Mr dont travel thank you says a very much was the. Name whatever you want to name i mean i dont know how would i come that news thats dishonest tell what our combat a recorder or a network thats totally dishonest c. N. N. Is says you know 100 percent negative. Change fast changes so sometimes ill say thats going to be a great story be a pretty good report and others good as you. Will see what happened so who knows who knows what well see on this bill will be a success. The night take the comedy is never the better shade. Highest standard of living for a country on a week. To d a cold season the kind of mindset never had a decline in housing prices that a nationwide basis eased me cian ebb and flow price but youre not going to see the collapse
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