tv Keiser Report RT December 29, 2020 3:30am-4:01am EST
senator straights and even negative interest rates of close to 20 trillion now in sovereign debt around the world with a negative enter stray so explain to me how this all works because you just meant the time warp and i get where the time warp and it's clear we are looking at interest rates and how did they get that way because it's not an economics policy it's never been done in the history of economics who's behind this who's doing this to study economics at this point it's something else is going on bet's explain please you have this all which we've been talking about for years that's been running several and we missed any goal central bank policies have been absolutely bizarre and it's been planned those are kept interest rates in store clothes because they need to service the in or the hundreds of trillions of dollars in debt in your group so interest rates if you might remember we did a urine special in 2018 for calendar year 2019 when the fed chairman said we're going to raise rates we're going to raise rates and on your program i said they're
never going to raise rates we're going to get to meet you says are going to be q.e. 4 or remember this like it was yesterday and i said no there's not only a b. chewie for them is going to be q.e. 5 q.e. 6 they're never going to stop wiki because they can't the problem with will be done is they backed themselves into a corner now in your show which debt if interest rates were ever to normalized it would default on the debt there are 2 ways to get out of this either a debt default or trying to inflate out of this. most prominent ways to get rid of the massive amounts of debt so we're close to $270.00 trillion dollars in debt when you include the programs like medicare medicaid now they've got these crazy ideas of m.m.t. modern monetary sciri or magic money tree where they think that they can print unlimited quantum's of money without any consequence of course there's going to be terrible consequences what we've done is created and janet yellen when she was at the fed ben bernanke he now. how you create degrees wealth inequality in history so
you've got a world that's run by a bunch of all gone. who are now still english tools to china because it's their biggest revenue stream coming into into play they're saying there's 2 ways out of this either debt to fall for or inflate your way out of the debt by printing more money now let's look at inflate your way out of the debt by printing money in the past when countries have done that take a look at venezuela take a look at the why more republic take a look at zimbabwe they print a lot of money to inflate their way out of debt and we see prices go up as a result in the united states we haven't seen prices go up because the banks take that printed money and they hoard it they're not lending it out where there's no money multiplier there's no velocity of money they are acting extend the extreme bad faith i would characterize it but my question to you is if the banks are going to continue to stop that liquidity from reaching the general economy.
then what happens then because i can just to set this up a little bit you could have other countries would effectively default on the dollar or you have social unrest in other words if same sapir opening up a couple of different avenues than just the classic notion of hyperinflation versus a debt default because of the bank's actions in the middle there so how does this kind of name mutate care it's a little bit different than classic economics which suggest because we've got 0 and negative rates of course this is a whole new playing field met i couldn't agree more man i think the scenario trying to. get across the mirrors what we have is a very unique situation right now that's never never happened in history so when the 2008 to recount 2008 credit crisis was a liquidity crisis the next grayson's was going to be
a solvent see crisis and the news got in central bankers around the world at the federal reserve the european central bank christine lagarde and the bank and believe the problem is lack of quid the problem is going to be lack of solvent new give an insolvent institution more allor in news burns that it doesn't solve the underlying structural problems you've got so many triple b. lines so much sure will be debt that's out there that can never be repaid italy's that they can never repay all that they have it's when interest rates are at historic lows basically they make interest rates at 0 so they never painted black well eventually wants not lines like the biggest buyer of european bonds is the european central bank and what i've been saying for many years is we saw this happen in japan and we have learned absolutely nothing from this 3 last decade they have sealed monetary policy the japan i mean intense 0 growth 0 growth for the past
30 years and. and actually. on market they own all the bonds a fixed income market doesn't trade there at all and that's exactly what we're doing here except it's not going to work in european markets and it's not going to work in the u.s. markets because japan has forced a lot of their government debt on savers in their pension funds and it's totally different here because what they're doing is they're monetizing the debt which is what needs to either inflation and people will lose faith in the currency so if you go from 1913 you know 100 years or show the federal reserve has been around the value of the dollar has depreciated by 97 percent that's a gigantic number so you obviously you can't make the dollar worth less than 0 but it's going to depreciate even further and u.s. dollars a gemini will end and it happens very quickly and people will not have time to get out so you know you're trading at ridiculous multiples multiples higher than during
dot com in certain nasdaq stocks and you know out of debt during the credit crisis and some of these hybrid derivative products is now larger than it was in 2008 and people are like oh you have to worry and you've got these crazies that are coming out and saying green new deal we're going to spend 100 trillion dollars it's like where you think is money's going to come from where they're going to get this money and this needs to be asked same thing this is why people don't trust the government or whatever you have that you have it have a very bad cycle going and you get civil unrest a problem and i think what they're trying to do is use the covert crisis to blame all the people the high unemployment numbers the business closures and they're saying oh it's all covert it's all coded no actually it's not it's central banking problems that were caused by 40 years of neo liberalism and we need to pay the price for it now and it's coming due notes are coming so they can try to blame go
be up relation is fed up with it and. i realize they're being lied to on many fronts so i asked some kind of historical context there so when are the time you have a huge wealth concentration and that's what's the result of this low interest rate or 0 percent rate is that you just have this enormous wealth concentration in america by the people who are interested in having a huge wealth conference concentration are the ones behind these policies going back historically back in roman days when there was a huge concentration of wealth the romans were actually inviting the barbarians they were not regretting the barbarians coming in because they had totally fed up with the system now flash forward to the 1930 s. in america after the wealth concentration awat robber barrons of the crash of the stock market a lot of people think the united states welcome communism communism was on the ascent communism was and austine an alternative people were moving to the soviet union that's how i dislocated the situation have become so my question here isn't 2021 well this plutocratic wealth confiscation confiscation will
result in 2021 we can start to hear people saying you know what maybe we should invite china in or maybe i will love the china maybe maybe they they can bust it up maybe that's all we me you know in the mass of out a sympathetic outpouring to the chinese to help stop the american plutocracy meche i don't think that will it will quite happen that way but i think that there's a massive indoctrination program in the educational system that's been going on for 40 years that's trying to pitch socialism and cultural marxism and i think look i didn't big check in the media and the democratic party have been working to censor all news stories i mean if you think about the will by corruption scandal what was going on that the media actually covered for the by the campaign you know i'm eric gnostic. you think about with the media it is probably worse than the crimes that were committed you know the pay to play crimes crain with china that were proven is
they have sacked we testify. worked for the by turned state's evidence and actually testified that user documents showed them late accounts you have that the payments that came in from countries and yet the media decided to censor that and twitter censored it stays book sense of it all social media censored it and they actually prevented the new york post story that was 100 percent factual 'd and all the media talking heads said oh this is a lie it is russian descent from asia and then now after the election all i'm after reaching it is these guys being being hauled in front of the department of justice just a fly on hunter by now they're saying oh yeah well there might be some merit we're going to try to put lipstick on and there is no lipstick to put on most people are really fed up and they're realizing now what this is the possibility now. that. that. is president for 4 years is probably only about 20 percent camilla harris
will be the president probably with the year and this is i think what the end goal was to begin with but that the distrust in the media distrust in the government earth big problem or well that's a good point to go to the 2nd half because he left a little you know prediction for 2020 while we're going to come back in the 2nd half and talk more about 2021 what a cliffhanger dago i stay right there more with mitch firesign from plot of ponzi go. to war we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race in this on off and spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful and very critical time time to sit down and talk.
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just coastal. in the world we lost about 30 feet. 35 feet of ground in just about 3 months while we were measuring. it is by no means the river isn't hers. those are. your 4 who are part of the 1st from. welcome back to the kaiser reports i'm not to continue with our conversation best firesign author of planet policy now available in 3 languages anyway stacie mit we have a good question for you here because you've kind of brought up some of these things
and the 1st half but as we go into the 2nd half and talk about 2021 biden is coming in at the end of january he plans a 7 trillion dollars stimulus in 2020 we saw i am one money supply increased by 64.5 percent stock markets are hitting all time high so my question to you is twofold is this a hyper inflationary bust up parts of. the cycle that we're in the end of the u.s. dollar as it is 2021 is of course the 50 and 50th birthday of the u.s. dollar went off the gold standard in 1971 so this makes it 50 years old will it survive will the dollar even survive 2021 and i ask that because we have the remarkable situation of right on the eve of the election we saw the i.m.f. ask for a new brand was so are we going to see hyperinflation many have been calling for
lessons 2008 by the way and it's never happened but will we have that and and or will we have an orderly shift to a new currency a new global crypto currency or something like that play i think there are several several things to pick apart with that i mean you know the i.m.f. e.c.b. all these institutions especially the world economic forum so never let a good crisis go to waste you know which is what you've got to look at we've got to examine combet and what they're using code it for you try to have a global economic reset blaming it on crude and you know is the globalists pushing an agenda slower or what us dollar gemini's finished when people realize that the debt can never be repaid it's going to come up with an alternative we're going to want of course 100 percent control what we have right now is a 2 to radical endemic power grab that's never going to and it's the gift that
keeps on giving you know what with cove it would people should be looking at is the morbidity rate in the hospital zation rates we shouldn't listen to the hyperventilating talking heads telling you oh my god it's the end of the world i don't want to get into the whole virus because we're not me that none of us are doctors here are medical doctors or anything like that i am really curious about the dollar at 50 is is you know biden himself also came into power in 1972 just as he went off the us dollar so it seems. the right year for it to go away i'm asking like will it be gentle you know organized shift like we're all going to meet with the i.m.f. or we're going to say hey let's go on to a new global gold standard or crypto currency standard or a bank or standard or is it going to be hyperinflation are they going to print as much as possible like what will happen with the u.s. dollar just that with that alone what they're trying to do is use it as a trigger but it's going to be
a disorderly market when it happens i mean it will happen very quickly there won't be an orderly. orderly situation when it happens it will happen all the sudden and i for inflation is a likely scenario but look they want a global economic reset and they need to find a way to do it and you know they've been trying to do this for 10 years i said last year or the year before it was about 5 a 5 year window for us dollar gemini and and the reason for that is the excessive amounts of debt that have been accrued and just keep getting bigger and bigger bigger so yes the dollar will fall apart people lose confidence the currency is a governmental promise to repay their debt when people realize that the promise to repay is a lie like the central banks have been telling you they're going to do this this this in this these are temporary emergency measures and they've been going on for 12 years now people realize wait a 2nd something doesn't make sense well this is economic slender an unprecedented
scale by the point 001 percent so people will lose faith in the currency lose faith in the bomber that's the way it happens you won't be able to refinance anymore and that's how i quit inflation will i mean the the sour use the valuations of stocks equities and property are ridiculous right now this is telling you that there's danger at the red lights are flashing no one's heeding the warning we're just putting their pedal up to the floor and buying sure. of tesla ridiculously priced assets think that the fed can build them out of the said chant and i think the problem is going to occur 2021 i want to follow up with that because you mentioned the emergency measures of want a tape of easing we've been in emergency measures for 12 years of course going off the gold standard was also an emergency measure that was supposed to be temporary and that's been going on for 50 years so that's what i'm saying is we're seeming to collide into these 2 emergency measures that are getting bigger and bigger they
emerge and c. is growing and growing and growing and there is there are fewer options to put out the fire but when you mention the bond market that is the widowmaker of all widowmaker over the past 3040 years now so what do you see for the bond market and you know i mean everybody has been predicting that it's all going to go to hack but like it is will we see a confrontation there will we see something actually happen and what does it look like to do we see a repeat of 1904 or worse you're going to see the same thing with bank of japan's do you're going to hear next year you hear about huge curve control well it didn't work in japan it won't work in the u.s. it just won't work period i mean you can there monetizing debt or printing money to buy their own bonds that's garbage it's what the united kingdom is doing it's what the u.s. is doing and it's what didn't work for 30 years in japan so you know one of these knuckleheads going to realize that you know insanity definition of insanity is
doing the same thing over and over and expecting to achieve a different result it's just not going to work it's like i said and you just repeat it the government has lied about raising rates they've lied about temporary emergency measures and they're lying about where i'm asked for 100 days and if you think you're going to ever have that the power grab you're going back over covert that's are going to happen eat either so you know we've got a lot of problems ahead i think you're now very unhappy people across many continent. they're fed up with not going to tolerate it and then you're going to have civil unrest which is in the worst or worse you know it's been a great trade for wall street to borrow this cheap money buy back their own stock and if you've got stock options executive stock options tied to their stock you can make billions of dollars and so there's a lot of complicity in the boardrooms across america and nobody is speaking out against the wealth concentration tradition and the other social problems because
they're getting stinking rich by taking advantage of these cheap rates but one man a stood up now one man who runs a publicly listed company called micro strategy is saying wait a minute you know what i think i'm going to call the feds bluff i'm going to borrow at their 0 percent rate or close to it and i'm going to load up the balance sheet of my company a $1000000000.00 worth and who knows where that's going to end in bitcoin with hard money that's that would be michael saylor over a micro strategy he's he's $1.00 guy who's taken on the fed his take it's the michael saylor put on bitcoin versus the jay powell put or the whoever runs the fed going forward they're put so here's a guy that only takes one guy who's standing up and saying ok fed it's just mano a mano i'll take your 0 percent money and i'm going to buy this asset that's going up an average it's been averaging 250 percent compound at rates of return for 10 years and it looks like it's going to continue killer in 50 percent
a year for the next 10 years betts can michael saylor effectively kill the fed and put these people in euthanize them as they need to be done i don't know if he's going to be the one that does i think they're doing it to. me they're stupid policies i mean their policies won't work and so you know that's why i've always been a big advocate i said look everybody's portfolio should be extremely diversified and try to the next crazy as it happens is going to be as a set solvency drew. and people are going to flock to the u.s. dollar now i mean the last time i think in our lifetime you'll see the u.s. dollar appreciate after that the dollar will be a sale and then u.s. dollar gemini will end and i think it's going to end in tears for all the central banks but much too late i think the governments picked up on what the fed and all the central banks are doing by printing money and saying oh the treasury now should pick up that functionality because if they can print as much money as they've
printed without consequence why can't our treasuries print as much as we can create these really ridiculous programs and enhanced our constituents who have funded our campaigns so this is where you're going to can't you're going to end in a very bad where they start printing you know trillions and trillions more and people realize that it can't be repaid then you have absolute dollar destruction and that's where you want to be out of the u.s. dollar in bihar hard asset based maybe some commodities that irks changeable for dollars maybe some inflation proof metrics bitcoin you know i would buy on the debt i always said i never buy the all time highs but it when it gets down you should simulate every asset class that will get you your u.s. dollar exposure you said they you have a diversified portfolio max and i we have a very concentrated in big claim now i want to ask you about your cohorts over there ad so paul tudor jones then druckenmiller. blackrock you know
these are small that somebody like paul tudor jones coming out in march and april and now saying that he had bought bitcoin and then coming out again in september october and saying he likes to coin better at that time was 14000 then he liked it when he bought it at 4000 so then stand up in miller came out soon after and said he had started buying back wine and now black rock is also saying the same black rod. as you know is the biggest asset management firm in the world like it is this thing i mean it's not it 2020 was the year that the institution started to come 2021 if there's a flood of these institutions coming in you know this all time high that we just hit in december it's going to be blown away i mean even even citibank is is saying that they see bitcoin hitting 318005 december of 2021 you know what you're seeing
of this you're right you're seeing c.t.s. get involved so these guys are looking at sure action volume in between has gone up significantly because people are starting to dip their toe in the water and that's why there's a lot of interest because you know i told you back in the early days of big 4 big quinn would ever take off you have to see managers dipping their toe or dipping their toe blackrock makes most of their money on commissions basically they don't care if some products people and they take a spread out they're not taking proprietary risk the problem that i saw a big point in the early days was the extreme volatility and it's very difficult to manage a portfolio that has you know the swings in your head from 20000 a decline in the trade down to 4000. so you know unless it's a tiny fraction of your entire portfolio it's difficult to justify that kind of a move to your investor because you're you know you're getting chopped up so i think what we're seeing now is more with more entrants in the market and more volume traded volumetric trades are getting bigger and you're seeing
a more stable price and less of less large drop downs which make it more attractive and the price action is something we can be a lot more tolerable these levels so once you take out all time highs then you'll say ok it will develop more interest of monks the c.t.'s and the fund investors to get from a dollar to $20000.00 each going to have a little volatility match and the surviving folks suggest equipped utilities for their whole life and clip coupons. and be no good old coupon clippers what else in our fans but you know we like alpha over on this side of the of of the camera we want to see action we want to see a performance we want to go with the heavyweights but how about some closing thoughts match on 2021 your thoughts if you need to get out of u.s. dollar exposure i think you need to look at getting some medals and a bit of bit queen on the pullbacks that's what i would look to you know our i like that this was this is the beginning of a great new year week of kaiser report episodes 'd and that's going to do it for
this end of year special of kaiser report stay tuned for the next episode that's going to be our new year's eve special we recorded it we had 5 and it's awesome until next month by all. 'd means to introduce. this. communication is already. devices. contaminated come to use on you tube a stick to your mug. used
the enemy us. americans love buying homes. this was a fundamental part of how our political leadership and our country at large understood the bargain you get a hope and then you know rebel right as the things you don't revolt if you have a stake in the system. and be really interesting dialing back and think about the longer deeper history housings man in the united states not just that old question of the american dream but the bigger question if you had the dream has
been for. tuesday training on this december in the headlines new york threatens 1000000 dollar fines for vaccine fraud after launching a criminal probe into a medical center of things illegally obtained jobs. relatives of elderly people in french care homes meantime to mark visiting rules a relaxed warning the restrictions it even more damaging to health than covert itself. the measure we could if you must nursing homes are only learned visits and receiving rooms there like room as it's other residents in our newscycle home are physically and mentally exhausted. by the leading actors rushed to apologize for their own performances not being diverse enough critics question whether the whole movement has gone too far.
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