Jades a pal at the Printing Press you know this past week he went on 60 minutes and he was saying oh well you know we print money digitally anyway theres no limit to the amount of money we can print to towns for all thats right before there was didier j. C. A. Or kanye west there was j. J. Walker who was keep it real in the projects in chicago with his famous tagline dion oh my and that there was such a strange rumor a few months ago that he was dating and coulter now theyre very good friends apparently and thats according to his wiki pedia but they are not dating jay jay powell was the star of good times his phrase was dying i know why it became super famous 74 to 79 where in similar time period now perhaps of stagflation many people are calling for stagflation a slowing economy and rising prices for you know goods and services so. As promised to print however and keep the good times rolling no matter how bad things might be its going to be good times one banksy said Balance Sheet hitting a 130. 00 trillion dollars if pow by everything this one bank is Deutsche Bank and. They see that the fed could possibly buy all outstanding equities hans everything and it would be 130. 00 trillion dollars right now their Balance Sheet is between 7. 00 and 8. 00 trillion you heard it here 1st right i mean ive been saying now for a few years that the goal of the Federal Reserve bank would be to take the American Economy private that is the say it would buy all stocks all bonds all property and now Deutsche Bank and other banks are saying yeah theyre going to print 130. 00 trillion dollars theyre not go stop at 6 or 7 trillion the number of dollars are going to print is going to exceed the g. D. P. Of america by a huge factor and theyre going to buy buy everything same with the other 3 or 4 major Central Banks around the world this is what neo feudalism looks like ok if they fuse Central Banks print hundreds of trillions and take everything off the board and now they own 99. 99999 percent of all assets and everyone else is living a subsistence click farm right click on an ad get a protein go in the casino thats what nifty little is amiss so now its becoming more of accepted wisdom buy we set it on the show now for a few years so 130. 00 tell us we did say it quite a few years ago i think it was 2011 when the meeting happened and they said they need 100. 00 they already told you they they signaled it because they have to signal it to the insiders because they want the insiders to create a citadel of absolute wealth whereby they never they promise each other theyve got each others back so they already told us it would be a 100 children here you know to get your bank is saying that theres 38. 5 trillion in equities theres 37. 8 trillion in Residential Real Estate so the government already backstops a lot of the Residential Real Estate in america but nevertheless theyre going to do that so in this sort of project this graph. And you know monetary projects they there are some winners and some losers though 130. 00 trillion is also a number which even m. M. Tears would have mitt is the end game as it will be nothing left to nationalize or privatized depending on ones view of who ultimately owns the Federal Reserve this is something youve said many times about being privatized. Nationalization of industries would be socialism or communism and privatization of these industries would be ultra socalled capitalism but near futile ism is when you just take it all and were seeing this in the covert 19 people are prepping for feudal times and the casino go like sheltering at home stuck on line click on an ad get a protein pill known line because more money is going to be printed and if youve got a multilevel marketing scheme you might want to issue some junk bonds today because the fed j. J. Pal has got your back ok because herbalife is looking to sell 600000000. 00 worth of junk bonds to finance share buybacks debt they may yield about 8 percent the move is a bit odd given the backdrop of economic collapse and corporate desperation for liquidity she had a whole bunch of comments responding to this tweet of hers about this bloomberg article and many pointed out that because j. J. Powell is there you know to provide good times for all even a multilevel marketing scheme like herbalife well somebody responded getting the fed to buy your stuff is the ultimate multilevel marketing scheme well done so herbalife is a legal ponzi scheme otherwise known as a multilevel marketing scam they have always been dubious. And always and theyre under perpetual attack from regulators around the world because there are theres a bit of a ponzi scheme to their multilevel marketing scheme. And so to buy back their own stock which is something that only a few weeks ago during the initial crash corporations pledged never to do again and i predicted on the show that they would break that pledge within days and kerry have herbalife breaking that pledge to buy back their own stock theyre going to shoot junk bonds hundreds of millions of dollars worth that according to jay powell and his 130. 00 trillion dollar bazooka where hes going to buy everything and hes already started to buy junk e. T. F. So they will end up on the Balance Sheet of the fed. Which means that american taxpayers will start getting herbaLife Products in the mail that they will need to consume to keep the economy from going bankrupt or to keep the fed from going bankrupt so the only thing collateralize in the Federal Reserve bank within a few months will be herbaLife Products and so it will be a paper it will be that will be a law be passed that you must accept an exchange of say of a tax refund you wont get cash youll get ruble Life Products and you must consume them or youre breaking the new patriot act so the new patriot act will be a you must buy Consumer Products on behalf of the Federal Reserve bank that just bailed out herbalife a ponzi scheme thats the placing of hedge funds and we dont have an economy we do have an effective ponzi scheme thank you sign and this will be signed by jay powell not donald trump you mean k. J. Pal signing it down i know my yes hes guaranteeing good times for all and this is trillions and trillions of dollars so with the future alike for these good times well assets on the Balance Sheets of the 4 major Central Banks approach 20 trillion dollars for math purposes if you were to count to one trillion it would take you 31709. 79 near right so its 20 trillion now in the 4 major Central Banks right americas got between 6. 00 and 7. 00 of that trillion so yeah 30 percent 33 percent japan is already 100 percent g. D. P. On their Balance Sheet the bank of japan so theyve pledged now to take that 20 trillion to a global g. D. P. Number which would be. Over 100. 00 trillion so theyre going to boost the assets purchases on their books by another 4500 percent. So and then capitalism as we know it and everything thats happened in the west sends the end up. World war 2 will be finished theyll all be able if we all had 31709 years to count to a trillion in out thats also what jeff bezos is going to be worth apparently and for years if you compound at the same rate the amazon shares have been rising but you know in terms of these good times back in 74 to 79 we did have really high inflation due to as weve covered recently you know the 73 or oil embargo the 73 to 74 oil embargo in 1079 the iranian revolution caused the oil prices to spike so we had those long lines at the gas station odds and even license plate numbers and that sort of thing but you know today at that point we still had manufacturing we had a lot of assets so hollow out we had a private equity hadnt started yet you know is another 10 years away just are hollowing out our economy and swapping our assets for massive loads of debt. So at this point you know these good times are going to in order to convince us that there are some good times ahead and theyve got to keep on doing that because remember that its all confidence game thats all any currency yes but especially fear because you have to have confidence that its going to mean something one day so the confidence game to sustain this this hollowed out economy we have were all trapped in the house and no goods and services are actually made in america anymore so like i mean there is there is the good times its going to be weird to see how much money actually does need to be printed and order for us to believe we have good time it seems like the robin hood app holders for example really believe were in good times because they are super active at the moment for example versus a and c. And b. C. Where you see all these huge Famous Hedge Fund guys who are really saying this is the most over mt valued market theyve ever seen like druckenmiller recently said. That and hes one of the most famous best investors ever and yet robin hood app guys think like good friends where in j. J. Pals project and hes got. The right role you know the old saying is dont fight the fed yes and the best strategy has been a winner for 40 years so its like doesnt make any economic sense to buy into this market except if the fed is going to take your back and buy everything no matter what any price now in venezuela they is the ball d of ours confetti and so in america the dollar will be used as confetti similarly itll be completely trashed to oblivion but theyll be a black market so the american black market will explode in the next 2 or 3 or 5 years and that most that commerce will be happening person to person in the shadows lawlessly effectively so thats where the economy is moving completely into the black market well you know again good times that original t. V. Series happened in 74 to 79 this is the this is where it was like tested its strength when we went off the Gold Standard in 71. 00 and here we only had oil backing and then the oil embargo happened the rainy revolutions of people were in doubt now weve come full circle to these good times at the very end like that was the beginning this is the end and in terms of how much longer it like this full circle weve come pandemic could cost the Global Economy 82. 00 trillion dollars in a depressions nari oh of course to get to 82. 00 trillion to count to 82. 00 trillion would take 2600000 years which is kind of halfway to the point it would take us to circle from when humans 1st emerged 2600000 years ago to 2600000 to in the future its all ending than. Just becoming a black market really its no ones got to pay any attention to the government involved anymore. And you are going take a break when we come back much more coming your way. 54 jets and more than 1300 military personnel are headed to heal some air force base in alaska where is that to say come on ill show you whats the reason for any type of enhanced u. S. Military presence in this area rush up. What is it suddenly about the South China Sea that makes it so that it 11000000000 barrels of oil. Take a look at this map who really owns what kind of says no it belongs to us india says no we claim that that belongs to us both of these countries have Nuclear Weapons capabilities there is reason for concern so thats why were going to drill down on the story for you today right here on the news with rick sanchez where you know as we always like to say we do believe by golly its time to do news again. In the face of a pandemic virus that spread so rapidly and so quickly its about the global population cant really think in the short run about changing peoples underlying mental states one. That we can learn something from. In the long. Healthier lifestyles to create a. Healthy planet. Program back to the kaiser report im max kaiser time now to go to canada to talk to marshall are back and despite the fact that hes a perennial fan of the kearney a loser troxel maple leaves we still have them on the show occasionally marshall welcome back thanks max in point of fact im in the the beautiful city of new york right now so im not in toronto at all im behind right in the belly of the beast so to speak youre a high flying jet setting economist and deep thinker lets get your thoughts on something here 5 months in the pandemic the u. S. Still seems incapable of manufacturing basic supplies like facemasks what does this tell you about our economy what needs to change if anything marshall it tells us that we went way too far in taber of a model where we said well lets offshore as much manufacturing is possible and retain the software on shore its nonviable model you cant be said to be a serious 1st will economy when you cant produce even the most basic of medical needs for your citizenry so hopefully that will induce a reached rethink and towards more selfsufficiency we dont have to go all the way towards total autokey but we certainly need to rethink this goal will globalization this is why we have you on today because you you have tweeted something to the effect that if you cant even manufacture basic supplies Like Pharmaceuticals and masks you know you have a serious economy you mention autarky there you know this is a phrase or a word that describes its kind of a selfcontained economy doesnt france for example is more of an autarky than any other country that i know of but so to your point out the you know if a country can take care of itself by basic manufacturing like a mask of a friend to trillions and trillions of dollars but they cant seem to get masks out there it opens up you know some serious question. Ns about this economy this American Economy and other countries and you know where you go what how do you perceive your right 1 i mean you mentioned the trillions and trillions of dollars we have no problem doing that but you know the problem we have and weve discussed this many times before we have an overly financial ised economy we emphasize financialization we dont emphasize producer ism so weve always taken the view that somehow all you have to do is keep the Printing Presses going and Everything Else will take care of itself and thats clearly shown to be highly efficient especially during this this crisis by contrast countries like germany which have retained by a ball Manufacturing Systems who seem to have done a much better job in terms of their response to the crisis and likewise the economies of asia and you can if you can exclude china thats becoming very politically weighted but you can look at countries like taiwan south korea even japan which is kept its economy open for the entire time and its also retained a viable manufacturing system so i dont think theres any coincidence that these are the countries that have done the best during this crisis ive created an index i caught the macho bone head index it seems like countries that are run by macho boneheads and lets put into this Group America brazil and United Kingdom to name 3 countries are doing this coronavirus poorly some countries like the ones you mention in asia also new zealand. Are not run by necessarily i dont think by macho boneheads and this is coming at the end of the need to movement so you know maybe men you know after losing horribly during the me too movement maybe men should just forget about leadership roles they dont appear to be doing any thing right anymore marshall a member Christine Legarde once saying that if Lehman Brothers had been called lehmann sisters maybe the problems in 2008 would have been a as bad i think she meant that happened jeff. Theres something to be said for that if you look at the people in in previous financial crises that have offered the best solutions theyve generally been women so in the Asian Financial crisis in 9798 that that came on the heels of a big derivatives disaster where you had Brooksley Born who was then have who hen headed up the c. R. T. C. In the u. S. She wanted to regulate these instruments and she was overruled by rubin greenspan and summers the socalled committee to save the world likewise in 2008 you could argue that the people that had the best responses to this were people like sheila bair at the sea and. Likewise Elizabeth Warren who was would have been inclined to been much more strict to be with the Banking System and likewise Christine Romer who had the calls for the most robust fiscal package which would have really offset the last one of the half trillion dollar hit to g. D. P. But we instead called the advice of people like summers you know who seems to feature recurrently in these policy failures and yet he still seems to have a major position of influence in as far as democratic regimes go when they print all this money and they print trying to trying to dollar some people are saying you know what this is like m. M. T. The modern monetary theory or this is like u. B. I. Universal basic income so suddenly that was kind of pilloried during the run up to the nomination here in the us the democratic nominee when that was suggested during the debates but now it seems like were living in a world thats like. Our u. B. I. What do you think certainly operationally the whole idea there some sort of arbitrary financially can financial constraint thats been blown out the window and that was a key m. M. T. Insight but you know you have to also to give the m. And heres a do they also said that its not how much money its what you do. With that that really matters and i dont think any m. M. T. Are worth his or her salt would argue that for the most part these dollars have been deployed in and seen the economys productive cap