A tie for of the flag of colombia and just to remind people that the g. D. P. In 2018 here was 518000000000. 00 down from 637000000000. 00 in 2017 thats mostly due to their currency falling they took a 57000000000. 00 loan out from the i. M. F. Of which about 44000000000. 00 has been paid they did also issue in june of 2017 a 100 year bond and it was oversubscribed they sold 2750000000. 00 worth at a 7. 9 percent yield all those people are down by over half and into this situation so you know we are outsiders were trying to observe what we see here and just be aware that you should do your own research of course because as difficult as an english speaker with out much spanish to know fully all of the players and whats going on here no stocks or what the a. T. M. Fees its like 10 percent and higher over 10 percent if its a good 100. 00 or whatever no because youre only allowed to take. Oh 85. 00 a day yeah. Yeah they charge me 11. 50 to take out the 85. 00 i was thinking about Interest Rate apartheid because for me because i have an elite bank account i get reimbursed for all a. T. M. Fees so what are they or i am in the world so my my fees are 0 other people its 101112 percent i mean this is absurd this is just negative Interest Rates theyve already imposed a negative Interest Rate at the a. T. M. Machine the people of argentina are used to this and so you dont see lines out the banks you dont see them paying those absurd fees because theyve already protect themselves in other ways as just People Like Us who wander into this situation who are the imbeciles that will pay that so im sure they dont pay that sort of fee because theyre more clever than we are because were used to the easy life of america right except for where you might go bankrupt because of health care but nevertheless im going to look at you know the situation from america you always hear like its the curtain or is this a left wing people like kurtz or so the peronist that. Room this country and just looking through all the data ive able been able to find online it was quite shocking how actually different it was than what the wall street journal fan actual times was trickles down to c. N. N. And m s n b c and and fox news in america info heres a tweet from kate long and shes referring to article from china news asia debt soared by about 100000000000. 00 us dollars under machree and now exceeds 90 percent of g. D. P. At the time of his election and 2017 debt to g. D. P. Was just 38 percent of g. D. P. In american dominated media you always hear it like that this guy was some great savior and business friendly and its like. Well if business friendly means racking up debt like that fast 100000000000. 00 and a 500000000000. 00 commie in just a few years is insane keep in mind that the debt to global g. D. P. Is to 140 percent yeah and the people who think thats good are the people who sell debt sell bonds yeah but those are also people who get free access to the new york fed so they could manage that so easily here if youre outside of it the further you are from the new york fed this is the cantillon effect this is in action on the nation state level if you get free money from the fed that operates the entire global system then youre living large if youre outside it just like Something Like the dollar soaring as it did in the past 2 years will cause total crisis in your country and its only that when you mention america of course youre referring to north america now when i say america i mean north america they dont like to be clear about this is a america too yes i have noticed they dont like us they are United States the us and i dont mean americans like those people in United States who like to refer to themselves as america but its like those a. T. M. Fees right so in other words the Interest Rates on this debt if you have access to certain privileged windows over there at the central bank. Doesnt mean anything to you but for everyone else or they have to deal with the economic fallout from all the financial vandalism but thats a little micro cause some of the macro story where saying here is like here theyre paying 7. 9 percent on their 100 year bonds and who knows how much the i. M. F. And austerity measures and all sorts of plunder of the country as a result of the i. M. F. Loan so yeah the cost is very high at a certain level its negative Interest Rates in europe and free money in europe but here we have this situation and then im going to look at this tweet stream from bronco milan of it he is really. Good writer economist about in particular inequality and hes written lots of papers on inequality the real root cause to the argentine ing crises plural is in my opinion extremely high inequality and social polarization the right finds free market policies and its interests and believes they may also bring some trickle down but the trickle down just does not happen and then be left then comes to power targets directly an increase in the incomes of the poor which in turn provokes a reaction from the rich until they come to power into a again i free market policies as something is happening for 70 years with regularity the real cause cannot lie in the most recent policies be they government or i am off this is an interesting look at how free markets work so free markets by that definition are markets as weve described it a Certain Group of people get free money and some of that free money they believe will trickle down to the masses but it never does they just get rich fabulously rich as we see in america right now the concentration in the plutocracy is getting ever brought ever more concentrated there with fewer and fewer folks so thats not really free markets thats a kleptocracy that hes describing the kleptocracy it creates a populist backlash in the populist backlash usually puts the flag of socialism in the ground because they think thats the opposite of quote unquote free markets and thats a centralized attempt to dictate price signals into an economy and of course that never works either so both theyre both a club talker see versus a centralized socialist system theyre both equally wrong if you have an actual free market you would have price discovery happening at the margin which increased which means that you have distribution of risk and reward equally throughout the society and you have a an organic kind of during a go. Old standard is when you have an actual free Free Market Society and for you know 100 years of the Gold Standard the Global Economy did great under a Gold Standard once you left the Gold Standard you had a club talk or see an socialism actually during the gold center were going to look at that before in 1007 when there was a global Gold Standard it does not matter you still can have thugs you can still have thugs who come in and take your gold you can still have thugs to control in the United States we have the robber baron era was under the Gold Standard and how do you get that thuggery and thats important to this economy because when and i think the wikipedia on argentina economy is very simple as just lays out all the progress essentially from 880 when they had mass migration tens over 10000000 europeans fled all the conflicts in in europe between you know world where one world war 2 they all flee fled here mostly italian but you know these are dedicated people with capital they brought a lot of capital in the country here was only 2000000 people 10000000 came in from europe and it was a boom times thats when you hear about that fabled time of it being the 3rd wealthiest country in the world this is when they brought all the capital all their gold all their wealth from europe and then they landed here thuggery under a Gold Standard is a limited by physical constraints if youre trying to grab territory through violence theres a certain limitation to that the limitations of physical dimension but when you have money and imaginary money its unlimited so you have countries like in south america in argentina that are forced to with hundreds of billions of dollars worth of fake debt and in exchange for that as we know from the economic hit man john perkins book send the debt in then you grab all the territory so its unlimited thuggery versus a limited degree under a Gold Standard what happened next was the Great Depression and the Great Depression hit here particularly hard hit everywhere in the world hard some harder than others here it got hit and it sank down. Within the top 15 wealthiest nations in the world during that time perowne came in after during world war 2 in 1905 he nationalized a lot of things and this is where we always refer to the left wing here the socialist sort of system here but you know that the economy did grow fivefold under him until 976 and the population grew 2 fold so there was high inflation but the economy grew faster than the population so it was kind of real wealth being created it was increasing at 3. 8 percent every single year over that time so what you see clearly however in 1976 when the u. S. Backed coup happened. The entire economy just was destroyed by the time they left in 1903 you had 400000 small and Medium Sized Enterprises and bigger and prices just go out of business 400000 you had mass capital flight you had massive tax evasion it was total corruption they handed they split the economy up into their bodies and looted the country with Henry Kissinger playing a major role in 100 passengers important still to this day as you saw howard stern and Hillary Clinton saying hes the Gold Standard he said he is the Gold Standard of International Diplomats and and this guy Henry Kissinger says you Hillary Clinton are the best ever secretary of state so this is just a reminder of what weve done this is from the guardian in 2003 or 4 kissinger proves argentinian dirty war Henry Kissinger gave his approval to the dirty war in argentina in the seventys and wish 30000 people were killed according to newly declassified u. S. State department documents mr kissinger who is americas secretary of state is shown to have urged the Argentine Military regime to act before the u. S. Congress resumes session and told that washington would not cause unnecessary difficulties theres actual transcripts that show that he was like hurry up and kill as many people kill kill your and kill the opposition as fast as possible before the American People notice and and complain to their congress so make sure you do it fast right what made Henry Kissingers. In argentina possible was nixon of course quote closed the gold window in 71 he was nixons boy yes and they got off the Gold Standard 71 and by 76 kissinger had all the money money and debt at his disposal to go into argentina and create massive havoc using fear that money is the ultimate tool of the terrorist money he had a lot of practice up until then in cambodia the slaughter there of course in chile the revelations are likely to further damage mr kissingers reputation he has already been implicated in war crimes committed during his term in office. Notably in connection with the 19732 regardless of what anybody says in the media they tend to even m s n b c or take a right wing slant is the fact is that the millet that military coup and the crisis that caused the hollowing out of the economy and business now there they were like the georgi that r. B. S. Georgi group of argentina they wiped out 400000 businesses and 911973 yeah when the us stage a coup and again 171 day mark asian paper gold versus gold were going to take a break and when we come back much more coming your way. Being in some ways similar. To. The traditional jewish. Center of the woods. Is a bug be. A key piece in the flexible physically. Articulate and so. Jews were the 1st modern because that was their specialization. But hopes and. He put themselves on the line they did accept the reject. So when you want to be president and she. Wanted. To go to the press this is what before 3 of the more people. Interested always in the water. Well it finally happened donald trump has been impeached by the house of representatives in complete opposition to what the founders had even vision the articles voted on were along party lines it is highly unlikely the senate will vote to remove the president from office so what is the point of this entire exercise. Welcome back to the kaiser report im max keyser time now to return to our conversation with Nick Jan Bruno from Casey Research and the international not welcome back great to be here and i must drive right into it we ended our last conversation talking about gold lets continue you write that Central Banks will push gold higher in 2020 how important is that they actually taking physical delivery how is this different of previous years is this another trick bag nick gold going to be asleep in 2020 again or just the real thing yes i think this is the start of the real thing because its a lot of indications but i think this is the biggest one because Central Banks are the biggest players in the gold market here and theyve not only switched from being net sellers of gold to net buyers handful of years ago but that has turned into record by not just buying paper theyre taking physical delivery in their own country so theyre not just storing it in new york theyre not just storing it at london theyre saying hey we want to have the real stuff here in poland here in germany and italy too so its its a very important thing because why is that important so important because when the gold the gold market seeing these kinds of trends in the gold market often is. An indicator that some sort of big shift in the International Monetary system is coming we saw the same kind of thing in the lead up to 1901 of course when the nixon took of the dollar off off completely off the Gold Standard so that was now or excuse me completely decoupled the dollar from gold thats more accurate way to put it but that was preceded by france and European Countries you know they knew the u. S. Couldnt hold the 35. 00 an ounce there were way too many dollars that they had printed so they saw that kind of the game was up and they started to take physical delivery and that broke the system i think thats the same kind of. Were seeing here today it hasnt it hasnt really kind of broken the system and caused gold to break out yet but i think the warning signs are clearly there with the record buying by Central Banks and then also the physical delivery which is very important right was saying probably the end of 2 big cycles going back a decade to the 71. 00 cycle that you mention nixon to destress about the tie between the dollar and gold broke it and it essentially defaulted on u. S. Debt i mean its about argentina we have sing on their debt or whether they should with argentina should recall that america defaulted on its sovereign debt in 1971 by disconnecting the association with gold so i mean if america the United States can do it why cant argentina default on their i. M. F. Loan so theres nothing sacrosanct about those types of. Paper thats on back to begin with absolutely yes that is and its very important point people dont realize that that was a default if you promise somebody to pay them in gold and the like sorry just kidding im going to give you these pieces of paper i just create a out of thin air thats thats a default you know right no matter what you call it they say own fault argentina cant afford the i. M. F. Loan the United States default it a hugely bigly yes 971 people do it all the time it doesnt destroy your Credit Rating as a matter of fact argentina went right back into the credit market and did under your bond because theres always going to be insatiable thirst but anyway so the 71. 00 is when central bank started to be net sellers a gold because it looked like the paper the world was going on a u. S. Dollar reserve standard and that gold was not going to really be the thing you want your central bank that has reverse now in the last couple of years Central Banks are buying gold d not since the early seventys in the quantities that theyre buying gold and that buyers of gold are not selling their National Gold the other major cyclists seem to be turning here nic is the neoliberal cycle introduced by reagan factor era of this deregulatory hyper hyper empire building. Using paper and debt that the reagan and thatcher introduced by essentially giving the banks free rein to make all the mistakes that they wanted to do and then they can just paper them over with with money so that they basically said as was later codified by obama d a bamma administration that banks would not be subject to any rule of law that started under reagan and thatcher but now looks like thats also turning that the law of the marketplace is coming back the law the price signaling of gold is coming back as only both of these cycles are turning and refreshing back to a commodity where commodity has real value then doesnt that favor a country like argentina absolutely because argentina is a commodity producer you know the beef here its not just beef argentina is is has plenty of Natural Resources