Us for the cons reports next here on our international. I am asked geyser this is a kaiser report you know in every human d. N. A. Is the need to trade travel trade communique and over the millennia weve all figured out that being transparent being open and having an obvious store of value to trade with is what has kept the species going arc toward what journey and progress 0 1 what does it all mean stacie of course open trade and free trade throughout the millennia has relied on honest money now that we no longer have honest money you prefer a transparent readable knowable d sort of entity on the other side of the otherwise dodgy trade deals and fiasco and i turn to this headline here chinas top trade negotiator we want to get reelected the mid to endless levitation of stocks with incessant a trade deal is close headlines chinas long young to former vice minister of Foreign Trade and point man during chinas 15 year talks to join the w t o told an audience during Credit Suisse is China Investment conference and chens and that quote we want to be reelected we would be glad to see that happen specifically long explains that the us president s daily twitter posts broadcast his every impulse delight m. P. V. To 67000000 followers around the world making him easy to read and the best choice and in opponent for negotiations donna doesnt want to globalize america doesnt really want to globalize russia doesnt want to do they dont want me america to lose them they want to trade china wants to trade russia wants to trade trump wants to trade the enemies of trade are conflict in a war because they love war at the same like the trump opposition parties in america are the one. War party as told to gather as describe them and this is just not the way it works within the human spirit in the human d. N. A. We want to trade and we want to be transparent thats our nature our nature also does get restricted by maff and usually a declining empire does not like globalization so much because they no longer when america is no longer winning back in the late late 1800 and early 1900 of course the United Kingdom was a great empire and it started to lose the trade. Global trade didnt favor them as much as it was favoring others so i think china definitely wants globalization because theyre the rising power they like trumps bluntness whether or not you yourself or anybody in the audience or any voter likes trump or not what im saying is that he keeps tweeting hes signaling not only to his potential voters but also to the chinese negotiators that hes easy to read at the poker table that is global trade is honest and theyre used to dealing with this honest politician everywhere around the world and the u. K. Of course they decided to get out of the global was ation a while ago but theres their loss i think the bigger economies are moving toward globalization and china and america russia are heading in that direction so lets talk about another dishonesty and that is you know when you have hard currency you have hard money it is honest money they always call it well gold of course has been honest money in the foundation of our global system as well on our global trade system in the World Economy as we know it it is however very heavy its difficult to move unless you own and hold that gold on your own its not yours and i want to flash back to this headline from january because it has relevance to a headline this. Past week. Need in bid to pull 1200000000. 00 of gold from u. K. Nicolas maduro is embattled Venezuelan Regime desperate to hold on to the dwindling cash pilot has abroad was stymied in his bid to pull one point 2000000000. 00 worth of gold out of the bank of england the bank of englands decision to deny him a duros officials withdraw we quest comes after top u. S. Officials including secretary of state Michael Pompei oh and National Security advisor john bolton has now gone on lobbying there you cape counterparts to help cut off the regime promise over seas assets venezuela wants to trade and they use gold as the obvious and visible historic means to trade the u. K. Doesnt want to trade u. K. Is where a lot of the War Industries headquartered in a lot of the banks of fund the war industry a quarter so theyre empty trade empty free markets and a lot of ways that as well as just loss of trade they just want their goal and to deprive them of their gold using censorship or financial shuns or ship or embargoes and sanction is antiglobalization anti the spirit of humanity regardless of what you think of madeira or his regime or his government or anything like that what were talking about here is not if you dont hold the private keys that is not your asset if you dont hold your gold that is not your asset so it is part of a deal globalization where everything there is some sort of diminishing pie going on there isnt. A sort of resentment and a fear in part perhaps an anger about china being larger economy than the u. S. China seemingly winning chinas got 5 g. We dont have 5 g. Theyre moving to 60 they have all sorts of technologies that we dont have there is a sort of anger going on and the dishonesty in the game and youre seizing somebody elses assets but now i want to turn to a headline this week and thats why the midair ost. Ari is relevant as relevant to an ongoing goal vs between debate that weve been following peter schiff of course says between is fake money its a ponzi scheme blah blah blah he says gold is the only way to go is the only way to store your wealth well of course the nation state of venezuela had their gold seized that happens on an individual level but here on the nation state level with bitcoin venezuelas president maduro touts treys or bitcoin wall and National Television on november 6th president of venezuela Nicolas Maduro a parrot on state run television Venezuelan TelevisionCorporation Holding a crypto hardware storage device allegedly developed major wallet supplier traced or the video is posted on the official Facebook Page of president Maduro Fraser is the lying having any role in this and that these 2 alleged executives from tres or in this video they said this is not it but the point is heres a nation state this is the 1st weve seen jump up to the nation state level of course president xi recently said blocked chain they want to have a blocked chain on their own china but here hes like holding up a tres or wallet and that is very significant self sovereignty leadership is confusing bitcoin with fear at money he makes that equation he doesnt understand that bit cohen is gold 2. 0 which kind of indication doesnt really understand gold either which is ironic but here you have the madeira was holding up a treasure or a wallet and hes saying look this is sovereignty this is individual sovereign say we can put a 1000000010 150000000000. 00 worth of a store of value Currency Bitcoin its gold to point out and it wont be any censorship the bank of england wont deprive us of trading with the rest of the world they want the privacy of our human rights even though they dont want to and thats where were heading with bitcoin is are heading toward a world that is more in keeping with the spirit of humanity to trade its peaceful remember. Trump is a man of peace thats why the deep state hits him you believe that i prop perhaps dont believe it as much but some people will have opposite opinions and that doesnt matter of course a lot of people will say madeira is bad this is bad news for bitcoin they said that when president she said you know into block jane and this is bad for big queen but the fact is the same thing happened early on in the very very early stages of Bitcoin Nakamoto himself said it was horrible that wiki leaks was receiving big quite dont let him get involved we dont want to be crushed before we even flourish and because its always those edge cases of course its the outlaws its those being denied and censored that are sometimes horrible maybe not you know maybe not a lot of people dont like them maybe as we see in the u. S. Media here a lot of people dont like Julian Assange a lot of jew journalists dont support him even though hes being locked up in a cave but here again like the fact is that censorship resistance you censor them we did say this years ago when the u. S. 1st weaponize with that they would start that censorship and that people nation states would move around it in this case hes suggesting because. Nothing to worry about in terms of big point in the early days because because it is an idea that is an invention and once invented it cannot be invented like gunpowder before the change the geopolitics profoundly on invent gunpowder you can invent coin and those nations that embrace it are going to be moving the humanity ball forward and those nations that are resistant to it are going to be left in the backwater talk about left in the backwater max and i we lived in europe and we saw then we moved here recently in the last few years and we saw the backwater that is the Financial System here heres the head you know the center the power behind the global Financial System and their Payment System here is so antiquated i. Had it i had gone 20 years without writing one single check i write checks day after day after day here it takes days and days for a payment to transfer from one entity to the other well big queen is because of bitcoin because of such as she nakamoto finally the us is actually going to do what most other nations the world already have and thats instant payments f. T. C. Commissioner size libra and support of feds real time Payment System so of course libra is facebook suggested or a proposed come to a currency which is inspired by of course big coin the Libra Cryptocurrency project should be sufficient motivation for the Federal Reserve to launch a real time Payment System a senior Government Official row on thursday federal trade Commission Commissioner rohit chopra wrote a letter to the fat the Us Central Bank supporting the potential development of the fed now service the potential high speed Payment System the group is now examining about libra he said the vague and scant details on the tax platform propose shadow Global Central Bank have sounded International Norm balance particularly in light of facebooks ongoing scandals a reputation for abuse regardless of libras ultimate fate the proposals emergence underscores the appetite for real time payments and the urgency of intervention by the Federal Reserve the warning trade the fed was putting a necessary layers of intermediation and the human spirit goes against that wall fight that has been doing that 4800000 or 200000 years and big coin mouth forces these other players dye their end of a or b. Worked around or to be made obsolete so the fed facing obsolescence with decline has decided to fight the rear guard action and try to create something similar to big going to stay relevant they of course will fail because its centralized and because it is decentralized and they will never give up the idea of settling trades using the dollar as a means of settlement and becoming. Settling its auto settling it settles with every transaction its a complete new paradigm shift into a complete new world that satisfies our d. N. A. Our d. N. A. Is a block chain its a biological block chain because is a cryptic block chain and it fulfills our need to trade it for fills our satisfies our need to be human to communicate the travel get in its way and you will be relegated to the dustbin of history thats the facts thats the way it is were going to take a break and when we come back much more coming your way. What politicians do something to. Put themselves on the line they get accepted or rejected. So when you want to be president or injury. Or somehow want to be rescued. Thats a right to be pressed thats what im up for the last 3 in the morning cant be good that im interested always in the waters of our. Quest to. Welcome back to the kaiser report im asked guys are time now to turn to dr Michael Hudson writer of many books from super imperialism all the way to the latest forgive them their debts an instant classic i might add welcome back thanks for having me max yeah i mean youre an economist but i know youre also on a story in which i love it that you can really put things on a timeline the economics as weve looked at it over history over hundreds of years and then how it changes and morphs and it really gives a fantastic perspective on things and i wanted to pick your brain on something in the last episode professor steve kean says that the u. S. National debt increasing from 22 trillion in february to 23 trillion today is not a problem do you agree yes because the u. S. Has no intention of actually paying the debt may be a problem for other countries that are holding that debt but the United States can simply print the money to pay the debt and unlike argentina or grace who have to actually borrow money because they cant print their own money the United States of somebody turns on a 100. 00 bond can just get a 100. 00 bill so what steve means is the government can just create the money to pay it off just like its created the 4. 6 trillion to a pump and to the stock and bond markets and so obamas bailout. The government really doesnt have that much of a debt problem thats mount of modern monetary theory should money have any Intrinsic Value no it never did have any Intrinsic Value and even the value of gold and silver back in the 3rd millennium b. C. Was all set by the government. The government by setting a price ratio decide what the price of gold will be in any case the reason gold has. A value is really for the balance of payments not for domestic spending at all but when countries run a deficit with each other how are you going to settle it and until 17011. 00 american went off gold the idea was that a country running a deficit would have to pay with Something Real like gold but then the United States said wait a minute weve been running a entirely military budget deficit through the fiftys sixtys and seventys we dont want to pay him gold we want other people to pay us in gold but were not going to pay him gold were just going to pay them a government ious and throw them into the World Economy and theyll all end up with some troll banks that all all recycle its just just a recycling excess of course the government setting the value of gold is by weight and of course that way travels universally around the world and can totally bypass any fiann or Government Application of a value to it because its got that weight in weight as universally accepted as having substance but the thing about it when you have all this debt being created historically every once in a while there is it that you believe that seems to square the circle if you well and we havent had one of those really in significantly for years we had an opportunity for one in 2008 but instead of bailing out those debtors the Obama Administration decided to pal out the creditors has that ever happened like that in history im sure has when it is happened like that and wasnt that a colossal mistake it certainly was a colossal mistake because many of the bad loans were fraudulent real estate loans there were loans far in excess of the borrower his ability to repay the loan and in excess of the value of the property so the banks who made these fraudulent bad loans should have had to absorb the loss and. Baer who is the head of the f. D. A. I see said the worst offender was citibank she said it was crookedly run it was incompetently run and she said here we had a chance to take it over wipe out the the bad stockholders and she was stuck by a one obama said im letting. Tim geithner tell me what to do because he represents my donor class and the people who are funding mace and geithner work for rubin who taken over a citibank and geithner myself had a relation reason prize when the Justice Department of justice recently declared jamie diamond guilty of racketeering for price fixing and manipulation in the gold market thats exactly what. Chase was doing i had to say that about the bank that i used to work for but they wouldnt have done that 60 years ago when i was there they did aside from the gold market arent they behaving in the same predatory Cartel Behavior emaar all markets futures markets Capital Markets bond futures stocks currencies its across the board this is authentic yes the large banks in the United States have done that just like they fixed the. London interbank borrowing rate that set everybody the Interest Rates that was all martin or you know bank of england was implicated in that and in the u. K. They said well because this is systemically important were not going to prosecute mark and they say its rich people are systemically important you can only prosecute non rich people but the rich person the systemically important because theyre the Campaign Contributors theyre the people who run the party so of course theres a stomach way important there the oligarchy lets talk about some of the internal machinations of these markets because unlike a lot of economi