Oh hi there im max keiser this is the kaiser report what they wonderful trip this is ben bitcoin of a dollar 2011 right here kaiser report we told you to buy it was going to compete with gold to take over the world it was in fact perfect money and still is and will forever more be well lets see how this is working out stacy so we were right jamie diamond was wrong and yet jamie diamonds the guy who gets paid a 1000000000. 00 to be wrong all the time thats kind of how they why the economy is in a crisis is that these people who are wrong of us time keep on getting elevated to higher and higher positions and they get rewarded and celebrated as heroes jamie dimon hated big queen at 10. 00 and we talked about it he did the 100 he hated it at a 1000 and well he loves it at 13000 to show you how this has worked im going to show you 24 teen have behind from our j. P. Morgan chase c. E. O. Denounces big queen as terrible predicts its downfall in the article he says is a terrible store of value it could be replicated over and over it doesnt have the standing of a government that wasnt 750. 00 big queen was in the news so he was saying its a terrible store of value. 12000 dollars liter like hes now his bank is pushing and well get into that headline right well hes not alone in being 100 percent wrong about declining there is no real roubini paul krugman peter schiff and just on the whole list stiglitz another no bo wening incorrect call on bitcoin and theres still a huge and long list because for the reasons that we said it was going to take over the Global Economy those reasons of now been accepted more and more by the global population and jamie dimon is a guy who he is defending the status quo she is part of that front line to keep real price discovery and real money out of the system hes a protect or of the out money and all the fake price discovery that goes with it and all of the financing of wars and corruption that goes with it all the nickel and dime ingin and failure to perform even basic banking skills that go with it the ability to pay off the billions and tens of billions of dollars of fines hes been levied because of his law breaking his recidivist law breaking over and over again and now his day is just about over i suspect hell be retiring in the next 6 to 12 months because out of utter disgust and shame he really needs to just leave so they were fined 37000000000. 00 over the past 10 years since christ reported spend after on air and weve focused of course in that time on the crimes they were committing like the rigging of the Precious Metals markets we were talking about in 2014 in this article he does also point out hes quoted as saying that you know im only criminals hes bitcoin at the time we were discussing and pointing out the the evidence that there could be some manipulation of the Precious Metals markets by j. P. Morgan we had experts on who were pointing that out and of course its only in 2026 years later it that the department of justice were actually building. A rico case against some of racketeering mafia like case against them and they settled and got to get away with that but in the meantime here 2020 after you know they went up against us they came up against us using their orthodox thinking using their white ivory tower sort of thinking their status quo thinking and that they believe all the media hype around them that he believes the headlines when hes put on the economist magazine are one of these big influential magazines the Financial Times and told he saves the world well he believes that were lucky in that we dont have that we have had our docs thinkers on our show we try to look at the you know a contrarian view of what is actually going on the markets so now 2020 theres no choice for him hes they cant the lies have just become so huge the denial of what bitcoin was and we have this headline for years j. P. Morgan was skeptical of bitcoin now the banks analysts say its value could triple challenging goals we said that years ago here and now theyre analysts who get paid a whole bunch of money to just look at guys report and repackage their content into and a report that they charge their investors tens of thousands of dollars when you know theyre saying oh it appears that millennial slike bequeathing better think gold well theyre capitulating so throughout the whole 678 years that theyve been down they dont bashing basically have to understand thats just deferred purchase right they only will be forced to buy it eventually just like peter schiff well and paul krugman and Nouriel Roubini and every every big bash will be forced to buy bitcoin at some point because money is collapsing in the world is going from take a low blows ation to extreme localism and the only way they can work is with the hardest money in the perfect money and thats what they call it so if they want to live up. Planet earth to continue to live on planet earth they will have to buy bitcoin theres no if ands or buts and the only the only question is at what price do they get in will it be 8002004000 extension 00 i suspect peter schiff will capitulate at 50000. 00 men will probably capitulated and run 800000 Joseph Stiglitz so probably capitulated to 250000. 00 but theyre all the all the dominoes will fall i am gary 100 percent guarantee you i guarantee that this is 100 percent truth 100 percent capitulation every bit coin basher sense 2009 will be going 90 to 100 percent decline in the next 18 to 36 months i guarantee it and another important thing about this is the importance of doing your own research you know listen to the orthodox status quo ivory tower sorts taken their advice and listen to what they say and then listen to somebody like kaiser report where we try not to be too status quo promoting and look at alternatives and so obviously we were right i mean at the time his daughter i think her name is laura was famous for buying decline at that time she obviously was surprised report and bought because of us might add warren buffet to that list still capitulate as well i mean there are different layers of sort of investors Institutional Investors so like when he has 20000 and takes out its old all time high youll see a whole bunch of more conservative passive investment many money coming into the sector partly because thats the way they have to do it they have to wait to a certain price a certain size a certain marks market cap so thats part of the reason why youre never going to get like a g. 1st mover advantage working with somebody like j. P. Morgan although i have to say fidelity which is a huge conservative bank they were very early and on between and in 2014 when jamie diamond was spouting out that this was a terrible invest. And that terrible store of value in fact fidelity which is a privately owned bank its not publicly abigails a visionary Abigail Johnson is the c. E. O. Of that company and she allowed it to happen right because she had the intellectual capacity to allow the protocol to stimulate her in ways that got fidelity involved in a major way shes a under rated major player in this space people talk about Michael Saylor they talk about jack dorsey over at square Abigail Johnson is actually the biggest the 1st Major Corporate executive to go along because anybody in a huge way big not only that they wanted to Mining Mining but you have to also put that into the context of the time her cohorts her competitors and what the government of the United States saying at the time at that time they were also agreeing with jamie dimon and jamie dimon cant think for himself he just says what the governments going to say and ok its for terrorists for bad guys its for and its evil to use it within that context its how she stood out amongst all her peers and her competitors to move fairly into Bitcoin Mining and loads of Research President worried about how rising prices would increase rising prices and that would boil down to Asset Allocation so theres a proud 100. 00 trillion dollars floating in the invest the market around the world and youve got the Money Managers who are guardians of that 100. 00 trillion dollars have to usually go by guidance suggested by Asset Allocation so theyve got stocks bonds property commodities and theyve been allocating to some small degree on a microscopic scale really bitcoin but as the market value because now its happened trillion then a trillion and then several trillion little socially show up on as a class comparable to precious metal. And then the 100000000. 00 by the fiduciary responsibility by the legal statute they must allocate to take advantage of the total Investment Opportunities globally and the so that right there what triggers another multitrillion dollar rise in the ass in this case bitcoin yeah and lets tie those 2 together in a final chart and a quote from that j. P. Morgan piece because they said that the older cohorts i boomers and above prefer gold while the younger cohorts prefer bitcoin as an alternative currency said the j. P. Morgan Research Note you know part of what weve been seeing over the past 1020 years 1011 years of us doing crisis report as we said this intergenerational 4th turning situation of the boomers who created this amazing scheme for themselves you have to give them credit in 1971 when they were 1st coming of age they untethered the dollar from any semblance of Wealth Creation and they got to be 1st in on a pyramid scheme its a pyramid scheme and we all know that and theyre lucky that they got to be the 1st ones and however as that disintegrates and de globalization starts because of also the 3 cities trap and big thats happening so fast because of the policies that the boomers themselves like clinton and and all his Financial Advisors like robert rubin and Larry Summers they set in motion the through cities trap whereby china wouldnt be able to rise so fast so theres a lot of turmoil that you know this election wont decide but its only going to continue to accelerate because its already set in motion they cant stop it so that is usually the time when you go into gold so heres a chart to say like well lets look at what gold versus bitcoin are doing well gold has not provided a hedge against recent equity volatility bitcoin meanwhile has crushed it and that would go with the volatility is being caused by the collapse of the boomer and their rule of. How they rule the world in the Financial System that is was disintegrating so it makes sense that gold would not respond it would go down with them whereas bitcoin is the rise of the millennial and generations easy and these generations coming up with what theyre theyre going to inherit the world and it sounds like they might have a positive impact right and people know about Program Training and automatic trading artificial intelligence. Relative strength against gold keeps extending for a greater duration and at a greater amplitude the program traders are the computer traders will allocate more theyll be more Asset Allocation on a relative strength basis and that will be done without any human being even making a move will just be done by the Computers Yeah but thats the status quo and thats what c. P. Morgan and jamie diamond were listening to we were out in the streets looking at the people in the arab uprising at the indignados at the at the global insurrection against banks the occupation so we were seeing this and this is why we hold you back and 2011 to that because the new gold we said it was the currency of resistance because we said that 2011 and it would be funding the global insurrection against banker occupation and banker that means jamie diamond who will be out of a job well were going to take a break and when we come back much more coming your way. Wrong. Just dont hold. Out. And in again try to. Find themselves worlds apart. To look for common ground. An entire village in alaska has had to move if another country trying to wipe out an american town. We do everything in our power to protect the. Wanted one escaping Climate Change poses the same threat right now alaska seems some of the fastest coastal erosion in the world lost about 30 feet. 35 feet of ground in just about 3 months while we were measuring. Is fast paced the river is 35. 00 closer than how. Was your or i dont think were a part of america or earth from. Welcome back to the kaiser report imax keyser time now to return to our conversation with dan collins entrepreneur extraordinary he was living in china for 20 years became an expert been on the show many times wrote the china money report welcome back dan. I want to pick up where we left off talking about and finance all set to be the biggest i. P. O. In history chinese Financial Media connected to jack ma of course of alibaba fame and you mentioned the statistic there about in terms of the body of a business they expect to do and i think you mention 80000000 enterprises are businesses would be hooked up day one to and finance a contrast that with j. P. Morgan they did a story that just came out that they want to compete with scare square so theyre going to launch a card similar to square for payments and when it launches they hope to have all of 2000 customers wow whoop de doo so anyway lets talk about in Financial Support it seems like this is in keeping with the theme that china is just a different whole nother level right now and could it wasnt called it that did it that its been going on for years and so give us and talk a lot about and finance all its fascinating the premisses to me in financial its very important as we talk ecommerce through to the world the ecommerce china today their ecommerce book to 3. Literally with the United States is for ecommerce well thats been developed by it for me and julie timana. For me just connect he to 1000000 merchants 16 trillion in transactions last year is 25 times bigger than p. P. L. More importantly its almost frictionless frictionless ecommerce in the church 0. 01 percent on peanuts. Compare that to what youre charging on credit cards here in United States or if you want. You know in financial moved into loans so very low cost loans over here we have Interest Rate apartheid credit card rates at all time price financial is creating a economic and Financial System for the people thats what theyre kind of focused on creating that space where banks have completely failed miserably whether going around us we saw recently broken sacks a 3000000000. 00 fine for ripping off the lead and so we will fund j. P. Morgan is 25000000000. 00 in fines from 2011 to 24. 00 teams you name it live or redeemed hiding losses fraud around toxic mortgages and then everybodys favorite manipulation of Precious Metals market right there this year thats almost a 1000000000. 00 so were in financial bill been creating the new financial in tech space our banks have been going around ripping people off their cannibals theyre like if you look at i think courage listeners to just google j. P. Morgan list of the fines its like a rancher read sheet for a serial killer i mean if anyone looks at this how are these people still allowed to business they should be shut down well thats what concerns me is what thats what we know previously whats going on now whats going to go in the next 10 years as we go into this system how much fraud is going to happen with these dinosaur banks in the u. S. So financials kind of the model just like walk away we kind of wait well what strain it doing you know they have leap frogged is technically a leap progress in infrastructure theyre deep in financials no good in the financial space its going to be the law you know largest i. P. O. Thats ever been seen its going to be worth half a trillion dollars by next year so yeah i mean whats going on there watch that space as you mentioned weve been talking about it for years now and you bring up an excellent point that you know i think banks to pay flushed out a lot of bad here so were told often that Financial Crime is a victimless crime that when Goldman Sachs and j. P. Morgan are caught breaking the law at def. They pay a fine and that should be sufficient eric holder under barack obama restructured the judicial system in america created a class of protected bankers that were above the law and by by decree and of course that money printing that the u. S. Has done has masked the deleterious impact of having runaway fraud and runaway looting mistakes here but will often quote the famous boss get quote of when looting became a way of life it trickles down and becomes a permanent structural feature of your economy. So now were seeing the victims of this by allowing these banks to escape any penalty for 1015 years now we have allowed china to leapfrog with and finance all and Everything Else to come for that to become the dominant superpower in the world it its not again its an empire the us some pyar committing suicide not its not that china is being aggressively trying to take over the world theyre taking theyre becoming the dominant superpower by default because america has abdicated theyve walked away from the table they stopped competing they relied on money printing and speaking of money printing. The i. M. F. Calling for a new brant woods so my m. F. Its a vestige of america and the Federal Reserve and the new york fed is just a money printing catastrophe this new Bretton Woods theyre waking up to the fact my god were about to lose to china so what will be the result of this new printed words will china laugh and just say well weve been buying gold for 20 years and we think we have enough gold to support our economy we dont