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tv   Keiser Report  RT  March 12, 2021 11:30pm-12:01am EST

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i'm max kaiser this is the kaiser record last report on let's get into it stacy. you know i'm getting tired of having to say this but once again kaiser report was right again ok we've been talking about the cantillon effect whereby you know money printing causes asset prices like stock prices or property prices to rise thus exaggerating and enhancing the wealth gap in particular and that's a big problem across the western world but especially in america where the very wealthy keep on getting wealthier and wealthier well soaring home prices are starting to arm policy makers own prices in january typically a slow month for the market were up 14 percent over the same month the previous year sales jumped 24 percent despite an unemployment rate that was almost twice as high demand for existing homes is so strong that the average residence is on the market for just 3 weeks and inventory is at a record low after seeing
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a steep us drop last year since the data was 1st tracked in 1999 remember the 2008 crisis was kind of kicked off by the sub prime crisis and remember that was wall street repackaging subprime loans with good debt and selling it off as packaged products to hedge funds and pension funds and they did it so much and so hard for so long that it eventually blew up and it gave us the global financial crisis of 2008 and we said you know they're not going to change anything they're just going to give them a bigger credit line and 1012 years later we're going to be the exact same thing happen again but much worse so here we are in 2021 once again housing is a huge problem because of all the money printing that's gone into the economy we have now rampant speculation in homes and this means that for average people homes are becoming unaffordable so add that to the average person health care is unaffordable for the average person education is an affordable and you have a picture that tells us that all this money printing is causing inflation which is
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a tax on the average person and because of the can't sell the fact. in riches those people who live near the central bank where they do all the money printing those people are insensitive to the needs of the average person who is getting crushed by inflation and people say well what are you talking about. there's no inflation the government doesn't include housing the government doesn't include education or health care it's a lie yes let's look at this data because it's a lot different from 2005 to 2007 housing bubble they crashed they were giving out loans high amount of leverage to people who couldn't afford it now you have a lot of people who can't afford it because there's a lot of money printing say had 5 trillion dollars pumped into the economy last year 25 percent increase in the money supply and mostly went to those who had
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assets who were close to the fed so you're in san francisco you're in los angeles you're in new york you're in d.c. you're getting the money 1st you've got here getting huge surge of of wealth look at jeff bezos or or even mosque how many truly hundreds of billions of dollars they earned earned from paper last year so you're seeing a lot of people who are able to buy many homes or upsize or keep their place in manhattan or the cities and there are x. sitting that and now buying places out in florida or texas or north carolina so there's a huge demand for properties and so you're seeing a cause and the media and the calls from the blue check twitter are that we have to do something we have to send people $1400.00 we have to send them $600.00 we have to get them $600.00 extra week a lot of that is just being sprayed it's to people who are already working the article here in bloomberg points out that a lot of these people are working from home for like
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a google they're ready you know they're making close at the top of that range that they were getting a lot of money extra money and they're pouring into property but as you. you'll see in this next paragraph that i'm going to read it's it's causing long term damage and long term wealth that destruction to the poor it all threatens to freeze brod sways of the population out of the market leaving millions of americans and a less secure financial position i am going to stop for that sentence less secure financial position so you'll get paraded and called all sorts of names on twitter by blue check twitter if you say that this is going to cause inflation they're saying that you're some sort of horrible person that doesn't want to send this person money or like you're putting them in a less secure financial position that's a horrible place to be widening the racial wealth gap and forcing the millennial already lagging previous generations of building wealth and farming families to
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fall even further behind quote the dream of homeownership is out of reach for so many working people said senate banking chair sherrod brown rising home prices and flat wages mean that many families especially families of color may never be able to afford their 1st home they make a good point contrasting 2008 and today in the housing market and in the 2008 crisis the subprime affects like people owned their homes to begin when they were fraudulent induced to take on huge mortgages which then they couldn't pay letter line of credit off their he locked. the home equity loan and when they couldn't pay it and if there were fraudulent land dues to take these loans those houses were lost and that's how warren buffett became one of the biggest landlords in america today he's the he ended up with all of those homes now that those homes are in the product possession of private equity groups like warren buffett the 2021 variant of a housing crisis is to pump money into the economy so that all the assets held on
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the balance sheet of warren buffett and other banks go up in value and the people that lost a lot of wealth in 2008 the rally people of color are. now getting raked over the coals again through disinflationary pass their assets again remember because it is on confiscated will i say that to the folks of color because it's one of the only assets they can have that people like warren buffett can steal right and you see again the rhetoric in the cable news on on twitter blew check twitter is that they'll be talking ever war about how anti-racist they are and yet their policies themselves what they're actually doing have racist the results they're excluding as sherrod brown points out black families from owning homes and then cut to another thing that almost passed with this and yet another $1.00 trillion dollars stimulus bill and just like a couple 100000000000 goes to people in the stimulus everything else is like all sorts of boondoggles of course like 1.4 charlie innes to all these corporations and
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cities and towns in place like that but they you know the democrats are also trying to get through at the same time they're saying we care about people look how good we are where we support $1400.00 to individuals even if it's going to cost them a whole lot more in the long term right just like sending their jobs to china reduce their grocery bill and their goods you know their child's school school clothing by 20 percent their wages by 60 percent and their long term job prospects by even further well here is something that the democrats want to get through the same people in cable news the same people who are blue check twitter who tell everybody else that they're racist even though they're the ones that keep on supporting that implementing and creating racist policies cap repeal unlikely to be added to 1900 relief bill so the democrats are trying to get this all the people of manhattan of california want this bill back because trump repealed this assault
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hopes among millions of upper middle and middle class taxpayers for a repeal of the trumpet ministrations limits on their federal deductions will likely be on hold for now as an effort to. include the measure in the covert 1900 packages poised to fail the house ways and means committee is slated to clear the tax portions of president biden stimulus legislation calls by some new jersey democrats to repeal the $10000.00 cap and state and local tax or salt right off of the gone unheeded in the legislations so far just so you understand like the people who benefit most from these tax write offs they solved write offs about 52 percent of the benefit from repealing the cap flows to households earning at least $1000000.00 a year so it's the very top those earning a $1000000.00 or more like most likely to vote democrat most likely to be like hillary supporters so they're also the ones shouting the loudest and telling everybody else like i just think is psychological projection they feel guilty for
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all of their actual policies that are in fact indeed racist they're the ones causing these a low tax take that thus there's less money for housing and urban development for example or or public housing because of the salt deductions and at the same time they're all for printing more more money because for every dollar that goes to stimulus for the people collecting $1400.00 well $10.00 goes to their corporation. it's so win win situation but they get the loudest megaphone to tell everybody else you're the ones doing this like you're the ones causing these racist out counts when it's like their system is the one that is horrible and unfair yeah it's really humorous that these blue chick. on the in the new york area are not getting the relief on the salt that they were hoping for when they were voting in 2020 you know there was a lot of pigeon chested puffy puffy around moment of the blue checks about the
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2020 election and i think it was either newsweek our time they ran a cause. however story kind of celebrating how they had to take extraordinary measures in the 2020 alexa rank way and that's all because they figured they could get their tax breaks back and they felt than urgency like when you don't tax breaks and now it turns out they're not going to get their tax breaks back jokes at least for this year of course they have next year before the midterms to pass the sol thing. or even like there might be there will probably be more stimulus packages going through this year in terms of what the amount that wealthy people 50 percent of the salt adoption benefits those earning a $1000000.00 or more that would have been $88700000000.00 they got to keep this year instead of paying towards taxes that are thus going toward stimulus packages
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so they have the megaphone of being the elite media and their elite think tankers and stuff like that and saying everybody we need big stimulus we need huge stimulus we need big stimulus we ourselves want a tax break ok we want to pay $88700000000.00 last to all those people were telling you to help write of course that's the bottom model right donna gets to you know use all sorts of tax loopholes to ireland and netherlands for his copyright and then tell everybody else hey let's go save the world and pay more in taxes which is fine if we all agree on it but if you're the $1.00 pushing it but you should also support it the site the tax rate that you pay if you're a just a tax or a. yes right so everyone's in a certain tax bracket but not everyone has the same ability to just their taxes so we know that there are millions of americans and corporations who have adjusted
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their tax rate to 0 i'm just thinking general electric i remember a couple years ago they filed 870000 pay. tax return and not only did they not pay tax they got a tax credit of course also 5 as a property developer that's why you go into property to have tax write offs deductions for you know depreciation. that's all engineering at the office where the banks are and that's not the same place where the people of color are living so it's what i call interest rate a part in it systemic racism for sure through the banking system we're going to take a break and when we come back much more coming your way. this is. actually physically. you know
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well well. there's a lot of money with the oil and with that comes. a lot of a lot of people from all over the country. you don't make a $100.00 a year. they were told to get a hard work will work is not easy. and so they want to relieve their stress and how do they relieve their stress. that outweigh that comfort many. people have been murdered up here people can raise their massive drug issues up here you have a boom you have everything else that comes along with money. i
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. i. welcome back to the kaiser report imax guys are time now to go to paddy lo a is the man behind the 0 petroleum he's got a background as a formula one engineer with the likes of williams racing mclaren mercedes wrecking
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what make a hack an end to lewis hamilton and he joins us now to talk about 0 petroleum betty welcome thank you now the white paper which i have a copy of right here look this is a. 0 petroleum it's called charles sent the success the completion of the industrial revolution elaborate on this what is petro sent us this is a term that i have coined myself because i don't think there is a term at the moment. if we look at the current sort of situation in human development with where in you know we had the industrial revolution but actually if you look really big. you know i don't care how far you want to jump you know let's say a 1000 years we won't have fossil fuels anymore you know they die they will either run out or we want manage it with the climate which is the current current crisis or anyway don't just become too expensive to extract. i'm already seeing that that
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renewable electricity is actually in the u.k. cheaper. to produce to set up a power station than for traditional fossil fuels so that process is already starting to say 8 in the long term we will synthesize all of our petroleum from it in the same way that happens in biology so we've only really done the 1st half which is the consuming part so we can see more of these hydrocarbons in all of our machines and engines. that gives us our current standard of living but it's a linear system. you know linear systems they they run out on the inputs and they create problems on the output which is waste or in a current moment carbon dioxide. so what we're going to do is make petroleum from scratch in the same way that. you would do. store the
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horse the same chemistry actually. and that is in an industry that will be in the next one or 200 years and it doesn't have a name at the moment sequence of photosynthesis but an industry so given it this new name patches synthesis photosynth the says you know i've been reading some of your stuff you know you talk about how it creates kind of a perfect balance between carbon and oxygen that is used obviously by living organisms on planet earth the sunlight hits the green leaf photosynthesis occurs and carbon is transformed and dirt from the industrial revolution forward that balance has been disrupted disrupted to the point of dire circumstances so it's not that we are saying that carbon is bad we're just saying that there's going to run out of an appropriate amount of oxygen. to to sustain life you
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know that's the problem the problem is no more oxygen has been crowded out so. so therefore there is an end analog petro synthesis so i guess you got to get into this a little bit about the petro synthesis of what exactly is happening at the point of petro synthesis what's going on there in general and i don't know specifically about what we do in 0 charlie but in general what you're saying you know this is a rather than digging fossils out of the ground which are legacy folks it's you know. we're going to maintain those high end you companies from carbon dioxide coming out of the atmosphere. and from the energy from the sun and we will produce oxygen and the high. and you carbon as a fuel or a plastic whatever precursor we need and so that's the general process so of your
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senses which which balances with our consumption and 00 hydrocarbons that we do in the moment there is a balancing that's going on between the creation of the petroleum synthetic petroleum and oxygen so there's a crack there so there's a there's a the process is attempting to write a balance in the ecosystem where you've got now represent you've got a petro center says and oxygen is also being created at the same 3 you know we look at nature has been in balance for hundreds of millions of years and through this chemistry which we call the carbon cycle and what we need to do you want to carry on with our current civilization is to recreate that same balance but on an industrial level so we've done the burning big and we need to make the big that creates these fuels and these plastics and all these materials that we consume pharmaceuticals etc so you're right it's about you know what we do and
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actually since this is affectively a forest in a factory it will create oxygen it will create the hydrocarbons taking carbon dioxide out of the air you have a background where formula one racing and and even had a spectacular career their engine on the engineering side so petra center says comes out of basically your love for engineering and then you also know it spills or at least you see the eco system essentially as a as an act of engineering sounds like a lot of mosques seem to think that everything is engineering and he can go to mars based on his idea that everything is basically just engineering is great you put it like that max because that you know doing let's say new fuel is new. energy can be seen as you know i'm absolutely not an environmentalist i'm an engineer and you know all of these problems will be solved by engineering so yeah the census and
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synthetic petroleum which with the unions are a petroleum is an engineering challenge which we will mate. and that does excite me you know i've spent my year my my career and my life really you know burning fossil fuels either for work or for leisure you know and we all enjoy and one of the messages around environmental is ms that everything we do is at a you know we're going to stop doing it you know stop flying stop eating meat stop you know and 1st very 1st of all as not going to happen you know people just are going to stop doing all that stuff and anyways not the answer i mean even if you reduce it doesn't solve the problem you need she need to engineer proper solutions and week we can do it we know how to do it all problem at the moment is only around economics ready because faso energy is so cheap and we need to develop the
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technology to to come along side and meet that but it's happening as a said with a lecture state already you know cheaper to build a power station in renewable was there and then with coal gas i save recall a project from not too long ago where microbes are eating sea wade and the byproduct is but there's that ring a bell or did i dream that you know you didn't that's code 3rd generation biofuels so that's an alkie process. so we've had 1st generation which is what happens in brazil they made sugarcane to make ethanol now people are saying that's bad because you know you're putting pressure on farmland which is totally true 2nd generation is to use the waste let's say the husks from whatever very very difficult. because it's so sunny los it doesn't break down the 3rd generation is this hour you're right but unfortunately none of those systems will scale the degree to which we
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consume energy coming out of the ground at the moment in the in the form of fossils is just colossal you know globally and and putting nature on the line to make up for that just you know it's firstly it's not released it can just basic numbers just doesn't compute and secondly it's completely unfair you know to expect biology to suddenly pick up the reins from all of our consumption so let's talk about scaling and 0 petroleum sceptically scaling there are 2 constraints one is capital and the 2nd scaling. issue would get into the specifics of the enterprise itself so on on the capital side we can talk about that but i'm more interested on the kind of the other side of the equation what where do you find bottlenecks in your process of scaling is a tough to source some of the you know how it works how does it scale in other
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words this is like i can understand how a software company scales they add more servers you know right and i understand scaling in many contexts how does this scale you're right it is very capital intensive because you've got to scale the energy creation in the renewal that has to you and you go to scale the plant which which process is the energy. but you know something to build it is very. compatible with renewable power and this is where there's a very interesting link up to 2 big queen actually funnily enough because. in order to make synthetic gasoline which is what we're going to do you need a lot of electricity but most of your your cost is in the renewable electricity and renewable letters to he is great but it's it's highly intermittent it's not cool to bo it's not easy to store. and this is where the making few is
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freight it can work instead synergistically because you can make fuel when there's too much renewable power when it's sunny and windy and you can store some of that either for use as petroleum directly or to go back to run power stations when there's no wind no sun. and actually to me bitcoin mining works in a in it's a very similar model actually and you know we've seen a lot of criticism of bitcoin prince consumption of energy but for me that's an old mindset because. the the conversation is about carbon emissions but reality in the future the grid will be entirely for so free. and so that for which way and to get there we have to manage this problem of variability in the supply and bitcoin is actually as
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a mining exercise is is just like making gasoline synthetically it will go where the power is is abundant and in excess. and so on that might be on a seasonal basis going north south or it might be on a daily basis going to east west so you know you go to where the power is cheapest to either make. it to mind he would see make synthetic if you. saw there is this quote an on again right you go where the where the energy is cheapest and this ends up being environmentally a great environmental boost because some of the environmental problems with energy are in transporting energy and through the pipelines and the fact that energy and electricity degrade over certain periods of time so that's incredible loss of energy a gas flaring by natural gas and oil exploration is now being captured by bitcoin
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miners in the converted into bitcoin saue and you're talking about and again and from an engineering perspective. a energy hydrocarbon burning substitution which has the added benefit of lowering the cost of bitcoin mining so it's all for france asdic i'm going to look through the white paper in great detail now and want to follow up and see how this is going patty thanks for being on the kaiser report thank you very much not it's a great pleasure all right that's going to do it for this edition of the kaiser report was made back kaiser stacy herbert like to thank our guest patti labelle of 0 petroleum until next time by.
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some control for a middle class the homeless of a night most of them are very hardworking people who want to get ahead that have either have some some health issues or have some of it out of strict about luck a full time job won't always pay for a place to live and missing just a month's rent can get you with victim to gunpoint if anything bad happens to any thing that just throws your budget off slightly. you better catch up real quick or you're going to have a judgment of possession against you and get addicted anyone that's homeless is history like garbage people look at you like a monster or someone bad or you chose to be there most of the time it's not the case see how it is to be pull in the world's richest country. is you'll media a reflection of reality. in
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a world transformed. what will make you feel safe. isolation community. are you going the right way or are you being that. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or remain in the shallowness. tactics that can be used to get innocent people to confess to crimes they didn't commit i don't even think people in the us really get that the police are allowed to lie to the person who falsely fast actually came to believe the lie that they were told about their own behavior once a false confession is taken the case is closed and nobody really can tell the
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difference between a good confession and one that isn't. a british m.p. calls for a ban on all men going out after dark following the horrific murder of sarah ever are we got reaction to the demands. that would solve the problem to make me feel safe those men might be right. to bring in a big new order anyway i think you're going to get just such a negative reaction. splits over the fell distribution of covert shots do you good in soft central the state accuses the block of creating a quota bizarre trading secret doses. first new generation 5 g. mobile network is launched a tourist hot spot of the russian capital we test it out.


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