Were developed by the u. S. Government thanks to the tax payer as part of an industrial policy called the space race and now youve got an industrial policy in china to beat Us Technology to beat apple with a huawei next generation phone and it looks like theyre succeeding and theres no parts in the phone and the us is being going to be sputnik and left on the roadside while china and the technology in 5 g. Go into the future all they have are terrorists and set of being able to compete i think bell labs was in it they did it on the last big part of 00 they had a big. Research parked in steve jobs open openly said that they stole a lot of stuff from there they were the best at stealing they have from the technology from the u. S. Government this story actually hits here in North Carolina while way long relied on suppliers like corvo incorporated the North Carolina maker of chips that are used to connect smartphones with cell towers and sick. I Work Solutions will burn massachusetts based company that makes similar chips it also used parts from Broadcom Incorporated the san jose based maker. Chips and Cirrus Logic Incorporated in austin based company that makes chips for producing sound theyve replaced all the ships with their own or other alternatives now well id love to see america get back in the race but youd need entrepreneurial ism and you would need. This aeration scorched earth tearing down of all the zombie banks that are there only because of cheap rates right and they suck up 3040 percent of the g. D. P. Of the economy of the United States of america so theres no room for entrepreneur alyssum anymore not a not on a world class basis i mean you have people coming up with you know great ways to you know pocket fisherman or Something Like that you know novelty products that we sell out here in the u. S. But nothing serious in fact nothing serious is in this next headline again ray dally you know and i believe hes been watching the kaiser report because i notice they keep on coming out with statements or newsletters or blog posts or conversations on stage that basically just steal our stuff and im pretty sure hes doing that so send us a signal next time like blink 3 times fairly fast or send an a u. F. O. Going fast you in the background because you have always are always good for ratings really heres a headline and Paul Tudor Jones back ray dal you and Paul Tudor Jones warn we will kill each other if our broken Economic System isnt fixed on stage i think it was in connecticut and said because the world is looking for yield companies can sell dreams rather than earnings the number of companies that produce earnings is the lowest since the dot com bubble in terms of their need because you can sell a dream as a result of the accumulation of the money at the top in technology we have a situation where naturally those who have a lot of money also have a lot of money in credit but it doesnt trickle down and as a result we have a situation with a large wealth gap just a. Placed on for me from just a few shows ago i explained how stories sell and in the case of we work the story was were going to have a certain percentage of the Global Real Estate market and theres so much credit free credit out there you can get a few billionaires to market the value that story or green at 48000000000. 00 but its actually theres no revenue theres no earnings its there its a complete ponzi scheme so thats a problem we have identified when you have unlimited trillions available to folks that are board like in connecticut or a dahlia and Paul Tudor Jones are board billionaires Paul Tudor Jones well Paul Tudor Jones there would be no raid eliot Paul Tudor Jones invented the modern hedge fund the modern approach to trading at the. Rate dahlia now capitalize on and makes a big fund out of it but when you have board billionaires in connecticut who are lounging around on their yachts or at the Bell Haven Club sipping my ties and they have nothing to do they have like i heard a story about a company thats going to take over a Global Real Estate or you know i heard a story about you know some guy whos going to launch satellites out of his pocket using a cheese grater you know give a 1000000000. 00 whatever we have to many billions because we get it for free it when the cost of monies are 0 the value of money is there oh if the cost of money is negative then the value of money is less than 0 but hes agreeing with you right now is a great what hes not suggesting they raise rates though he doesnt make that suggestion hes unwilling to make the proper response to his comment and simply quoting me on his newsletter is not enough he also needs to offer a solution as well you cant just if the guy you 1st of all hes overrated is performance is horrible and he just gets a lot of cash because he rips our stuff off well hes kind of suggesting m. M. T. Like a quantitative easing for the people i think thats kind of a suggestion because he. As there are 3 things that exist today that havent existed since the 1930 s. A wealth gap thats driving populism on the left and right the absence of effective Monetary Policy and an emerging world power china challenging an existing world power the us and i think that last bit is the most important thats always the most important because no great power want to give up their power they always turn violent and we saw that basically all these world wars that weve had in the past century are a result of that he said that in my opinion were in the end in the late stages of our riga serve currency system its a Monetary System not only do we have negative rates but were going to have much bigger deficits and thats not half the story because the larger story is unfunded liabilities those are pension liabilities and debt liabilities so he believes the dollar is that end of the u. S. Reserve currency status around the world and of course he can still that from us ok so why is this significant aside from the pilfering going on by rate dahlia of our content its because c. Has a was a 200000000000. 00 fund something enormous. Here is actions move markets right as george soros would would refer to as a reflexive. City reflexivity you know your actions will create prices you know youre not falling prices are creating prices and so thats why this is significant if he believes this to be true and he were to suddenly go well i understand he did make a very large bet on a negative bet on the s. And p. Futures i think he put one or 2 percent of his portfolio in denies that he just says its a had rights as the rest of his sport ok fine enough but on the margins you know as a hedge you know thats where he has the Biggest Hedge Fund right about where you are he could be building a position right so youre putting on also he cant tip a san and say im going negative because then he was going to front runner a dahlia right so hes going to say well its ahead at 2 percent if that could. The position hes building could be 10 to 20 percent negative this Time Next Year if thats the case then he by virtue of his actions yes of people be down thats the problem with the one percent that actually the 0 the top 0 point one percent taking away all you know running away with all the wealth is that when you have like j. P. Morgan for example its a massive bank like it dwarfs all others and one of the theories about the repo market is that is them having all the liquidity that caused the crisis theyre here. Saying yeah there is a large bet relative to everybody else in the market that the s. And p. 500. 00 will crash but its only a small small tiny percentage of my huge Largest Hedge Fund in the world and were just heading our position but just his tiny percentage of his wealth could distort the entire market but if you want to go 1020 percent negative in the fund he couldnt do it all at once you know what the size of the fund hes got to take steps hes got to build his position over time so its going to be a lot of fake news coming out or a dell you know and he loves to be transparent socalled with a huge reports and is book of theories and facts which is like hundreds and hundreds of rules of great value which can be summed up in to simply buy low sell high thats the entire rate of any money manager thats ultimately all you need to know and so he could be building a huge position but hes like a tell us because he has customers as clients that he has to serve not us his solution is kind of quantitative easing for the people which steve keen as presented on this show and the other thing that steve king has always said is a government deficit is on one side of the Balance Sheet and its the benefit of somebody else as an asset for somebody else on the other side of the Balance Sheet usually the population the households in that economy but again when you have a oligarchies cup soccer see and a corrupt system here it goes to the top 0 point one percent and Paul Tudor Jones mentions that he insists its not markets that its not just the markets that are running away but its the 5 percent by. Deficit in the u. S. That has caused us stocks to outperform he said clearly asset prices today whether its us stocks or its Interest Rates or its the dollar is all priced off of in my opinion a 5 percent budget deficit with this incredibly overly stimulative fiscal policy combined with overly stimulating Monetary Policy is creating this u. S. Exceptionalism that one day like if we normalized our deficit to levels more popular in europe where they have 3 percent a budget deficit we see completely different valuations of the stock market the dollar excess play out something weve pointed out on the show is that the banks are making junk loans and for corporations to consolidate and to create these a behavior of some private equity firms that are taking the World Private and eliminating Public Markets and for their sins the central bank absolves them by printing more money so remember back in medieval days if you committed the papacy you could buy your way out of going to the netherworld by giving the pope some money and you could with an indulgence write you paid your indulgence and you could buy your way into heaven all these people are trading Financial Center in america can buy their way into having a private jet. On the tab of the u. S. Taxpayer by making an indulgence with the Federal Reserve but the dollar currency money a supposed to irrigate the entire economy is supposed to nourish the entire economy and this is what you have when you have a corrupt system is not only does Monetary Policy that does the spigot go directly to the very wealthiest but if it appears also fiscal policy is thats all we know is to give money to the top one percent and hope it trickles down but it never has trickling down the simple solution for this obviously is to a let some of that money trickle to wages but they wont if you eliminate wages and you eliminate organized labor then you will only have money flowing into the oligarch class says if we dont fix. Youre going to have a revolution and were going to kill each other right thats not a populist movement if you want to say thats populism then so is the declaration of independence the constitution of the bell of rights right what country are you living in you for a composer all right were going to take a break and when we come back much more coming your way. In the troubled 19 seventies a group of killers rampage through parts of Northern Ireland that was coordinated loyalists attacks a population of tens of thousands are forced to flee their homes come up with strike can put these attacks was a p. R. You see the Police Actually took part in the attacks so instead of preventing it they were active participants in the burning of the streets in belfast. More than a 100 innocent civilians women. As the review can seniors and we found out more i was surprised about the extent. To which the inclusion was involved in some of those cases the killers would lead to be named. I think it went to do very very top i think it is. The water where all the patients you know on the go ahead. Is youll media a reflection of reality. In a world transformed. What will make you feel safe. Isolation community. Are you going the right way. Are you being led so. Direct. What is true watch is great. In the world corrupted you need to descend. To join us in the depths. Maybe in the shallows. I had a spiritual experience. And i had the little girl that died in the fire sent their colonies. To save money their lives on order looking for a kidney reaching them off 54 years old age but 21 years on good role model. For a crime i didnt commit. My own stupidity was innocent doesnt read the newsgroups but nobody would listen. You know youre not on. Trial was pretty much a farce. They are ahead im building a new tour that will. Tell you nobody. Caught. Was. Not truthful you will learn it all. Through through to me hasnt forgiven himself for something. I knew she was in there and i knew exactly what i was doing. People life. And sometimes theres no explanation. Welcome back to the kaiser report im max keyser time now to return to our conversation with dave column he is a professor of our data chemistry at Cornell University were talking to him about his year in review newsletter he puts out a very extensive very pithy very insightful year end review thats full of nuggets of wisdom dave welcome back i think i will be back you used the phrase quote a rolling lone gathers no loss now that we are near 0 rates some much lower do you think us rates can go and Michael Hudson who dont know if you know Michael Hudson very respected economists been on the show many times he thinks predicts a negative 25 percent on on rates if the intention is to bail out creditors what do you think theyve column i pray hes wrong. But theyre trying to set us up to go for it or try to soften a target for negative rates i think theyre trying to soften the target for our for massive q we. No matter what the fed will never admit theyve just blown it and so to speak doing weird stuff. Yeah. I count to 3 quarters of us gold homers are going to do really well if they drop their rates down there youre a chemist over there at Cornell University a professor and you must have some instinct for the laws of nature and what do you think of time having 0 value or less than value any value if we see negative Interest Rates time has less than 0 value with a negative interest or a stay of calm how does that how youre a physicist area chemist how does that work seem stupid to me i cant imagine why you would lower money but that the credit markets now are so messed up theyre no longer about you know creditors and borrowers meeting to haggle over price and so i. You know if if the feds going to provide all the capital and whatever needs they dont need my capital so they know i dont need an Interest Rate. I parried dont need to retire either as a separate issue so. I think theyre screwing up the system i think i think the central bankers are so too big for their britches they believe the blowing they skew i want to say ah i think im smarter than i am by recognizing that i dont know what im doing now but if time has a negative interest then were going backwards in time is this so banks on wall street can go back in time and steal from customers from decades past because theyve already looted every customer they possibly can Goldman Sachs and others been caught looting from their own customers their own customers or have been bled dry they want to go back in time and loot from the customers in the past is that what negative Interest Rates are all about to scientists to explain this to make. Yeah maybe i have disappearance or needs it. If there are people who are paying interest on loans to get to buy debt that they have to pay interest on it that. They can sell it to some other india i think thats the system or if that is got to be happening with all those negative Interest Rate loans if there are people on the margin who by the bye debt thats thats returning negative numbers take the square root of negative one for all i care right its just stupid and i think it will destroy the Banking System i keep hearing the bank system start by the low it low negative Interest Rates then why are they if the Banking System starts i do believe the transition back to normal going to be a bloodbath so i think theyre afraid of that yeah i think the reason they do it even though it hurts them is very simple its an example of suicide capitalism and weve been saying this develop over the past 20 years where the terrorists there their theocratic fundamentalists or their wall street fundamentalists theyre both looking to blow themselves up for their ideology one follows a religious ideology and one follows a misreading of adam smith but theyre both terrorists now Michael Bloomberg was worth 30000000000. 00 in 2008 now hes worth 52000000000 dollars 10 years later hes running for president to stop people from taking all that free money the fed gave to him through asset Price Inflation do you blame