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tv   Keiser Report  RT  March 25, 2021 6:30pm-7:01pm EDT

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the cultural code chechen society which went through 2 bloody wars is tough it is closed and close knit at the same time. and their experience of getting through this pandemic might be different from what people have in europe the united states and the rest of russia but it's hard to tell that it didn't work out at the end of the day so this is it were a flight out of chechnya i'm back to moscow and what that means well for one thing that means that i have to put my mask back on. and i hope things are looking out for that's it for me because the reports all the way off which will thomas will have you next off the international update. the most pathetic and dangerous consequence of the russia gate hoax is how it is
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bled into policy at the center of this hoax was to discredit and then finally destroy donald trump now it informs us russian relations the result is dire this bilateral relationship may never recover. when we watch movies i think they typically make us worry about the wrong thing they make us worry about robots turning evil but the real threat of a vast artificial intelligence is not that it turns evil but just that it turns very competent but has goals that are not aligned with our goals. max kaiser this is the kaiser report 1st slowly then quickly what's this all about
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stacey oh i think you're quoting ernest hemingway there of course he went bankrupt slowly and then suddenly and the same thing happens with hyperinflation you might call it it happened slowly and then suddenly just says recovered a few weeks ago when we covered the tweet stream of michael burry the hedge fund manager famous for the big short which was a film made about him shorting the u.s. subprime housing markets and that catastrophe well here's an interesting headline from a trusted source pers fenton he lives in new hampshire and he tweeted this our local lumberyard prices have risen so fast lately that we can't quote accurately they said so we have now moved to weekly price quotes if you are a builder and need an estimate for your customer that lumber estimate is now only good for a week sorry fed inflation is 2.2 percent they claim michael berry had said just
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like weimar germany this could be coming to america that the past 10 years 9 to 10 years have been similar to the lead up to the hyper inflationary event that it slowly over 10 years and then suddenly in one year a whole hyper inflationary collapse yeah we've been talking a lot about this because it's better to be a year early than a day too late because once see inflation genie is out of the bottle it's really you can't get it back again without massive restructuring and massive economic damage and you talk about why more germany as an example and it happens very quickly and in the united states example all they've been. saving or misstating inflation now for 15 years claiming it's a big one to 2 percent or 2 and a quarter percent oil and you adjust for a more accurate picture of the c.p.i. the consumer price index based on what people are actually experiencing in the economy whether it's the lumber market as bruce fenton points out or others if
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lation today in america is running at 10 to 12 percent right now and that's set to double as the u.s. dollar. gets into a lot of trouble with these geopolitics games being replayed now with this new administration you also see just like weimar germany and we covered this as well when the michael beurre tweet stream covered what happened and by march germany and you saw a massive speculation on the stock market that was one of the earliest signs of the hyperinflation to come so here's an interesting set of charts from wall street dot com and the title is stock market leverage spikes in historic man or another what the heck chart of a zoo that has gone nuts and the current craze that encompasses everything from sneakers and f t's to stocks were valuations don't matter because of widespread certainty that valuations will be even greater in a few days and where folks are chasing lottery type returns supported by the fed's
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interest rate repression and 3 trillion dollars and asset purchases and by the government's trillions of dollars of handouts and balance out well in this perfect world there is a fly in the oil meant vast amounts of leverage including stock market leverage so as to show you the leverage in the stock market he has 2 charts the 1st one is the rate of change and margin debt from the previous year so that she posts this past year since mid 2020 to now versus going all the way back to 2008 so margin debt has spiked historically over the past 20 years and then one more chart here to reiterate that. the extremity of the situation is the spike in margin debt just going back in one timeline through 1999 and you can see the amount of martian debt going all the way back to 1909 is at an extreme that's what happened in the 1920 s.
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to lead to the crash of 29 trade people were trading on margin at the time it was 10 to one the reforms of the $33.34 act the securities act were to curtail margin lending to try though. to get that excess out of the markets but sense tenser deregulation margin is them now really at one percent and then you add options onto the mix and you have a lot of day traders and casual traders down trading in the options market where the it's not really a one percent down 99 percent lever just more like 1100th of a percent down and 99.99 percent leverage you know out of the money options are the most leverage possible thing you can possibly trade and this is a common trade now for the robin hood crowd and elsewhere and you know as far as the y. more republican hyperinflation goes i mean this is a crack up boom this is a minsky moment this is what's been predicted by austrian economics this is
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exactly what you'd expect when you throw all the laws of economics out the window and you just kowtow to the geese quacking for more money quite quick where we want more free money and to speculate as and they and they're just avoiding the dollar like the plague as they should but you know this doesn't end well you know it's never ended well throughout history i mean we covered that back in 20082009 during the beginning of the financial crisis when margin debt was down here and the best performing stock market was in bob way and they were printing money they would jump to the trillions of dollars of this way dollar so they were performing their stock market was also performing very well but in terms of how bad it gets because you know that kind of puts the fed and the treasury into a bind because the bigger and bigger and bigger this bubble gets remember the more margin you're using the more you're able to drive prices up. on the way up but on the way down it also accelerates that it's an accelerator of the decline so they
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obviously can't have that happen especially during at penn demick especially when there's no economic activity happening still a year later so you know if everything is collapsing all around them then it becomes a point where more and more helicopter money has to come because if this collapses like what are we going to do with all the boomers are going to do they've already been wiped out by 2008 their house prices are up but you know at a certain point these things have to pop right that's the problem with as you say the minsky moment those come to blast dubois economy america depends on the kinds in this of strangers to fund their speculation and to fund their extraordinarily cheap lifestyle made from the labor overseas and. so i find it interesting the saber rattling going on in washington d.c.
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right now because the kindness of strangers can evaporate in a heartbeat if they no longer want to play the u.s. dollar reserve currency game and then inflation right now is signaling a a 10 from 10 to 12 percent current inflation rate adjusted for reality to 24 to 30 percent inflation rate and that is going to staying bad right and then consumer spending he will she also has another chart about that just to show you the extent again this is the sort of behavior that you have in the beginning the early stages of a hyper inflationary collapse not that it's going to happen but you know these are signs that's all you can do is look for signals and the fed and the treasury and and the central banks of europe and japan have destroyed the information that price signals can send to you but nevertheless if you look at all that free money went to a lot of people millions and millions tens of millions of americans and they went for durable goods that durable goods spike of purchases going back again to 2008.
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in now it's historic and that's what makes sense right if you're getting this free money and you don't think it's going to hold its value but you know it's going to drive really high inflation and you know you're you know you might not need a washing machine or a refrigerator this year but you might as well spend the free 2000 and buy a refrigerator because that refrigerator might be 5000 and a few years especially as like a lot of refrigerators and a lot of our electronics and durable goods these days actually require semiconductor chips so this is part of the reason causing the semiconductor chips shortages which are now forcing manufacturers like ford and g.m. to shut down production samsung one of the 2 biggest suppliers of semiconductor chips they're shutting down some of the production on some of their certain smartphones and and pads so you know these are the sort of things that start to happen dislocations and shortages and things like that so these are just something to keep an eye on at this moment right you have
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a globalized economy and just in time economy and it was offloaded by the dollar come came around and declared the age of dig lobel ization and that so that started the dismemberment of the global supply chains in cooperation that was going on in the period of a guess you could call neo mercantilist a more it's every country for themselves and now in the current ministration that's only exacerbated to new new new tension and so then it's like a great big poker game and somebody's going to call somebody one of these big countries or know what's exactly but they're going to say ok i see your bet i'm calling you that everyone's got to show their cards everyone's got to show their cards and america's going to be showing they've got a pair of 3 days. they have bitcoin or lots of gold they have a lot of nations gold and stuff like that this did happen back in as you mentioned
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the great depression and england was the 1st to. pulled themselves off the gold standard and they they emerged from the great depression 1st because they had you know euphoria of more money but in terms of also intervening in the markets distorting price signals and you know when you intervene when the government intervenes because they want to save those people and causes disorder and chaos and strife for other people whether it's on the g.o.p. politics side we're going to go save the people benghazi but over here now we have slave markets in libya you know so there's there's always ends up being a trade off in this one but we've seen in the past year is that there's a moratorium on of fictions and foreclosures so all these people this is part of the reason why you're sending a lot of free money to people they want to spend they want to buy a house now because they have enough for a deposit because they've been getting enhanced unemployment benefits also it's a stimulus blah blah blah they want to move out of the city but there's
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a mass exodus for you know out the countryside more rural areas are suburban however all these people do is there's over it well over 10 percent of of people are not paying their mortgages and have not paid for a year but they can't be evicted so supply is in short supply here we go again sober look perpetuating the myth of a housing shortage there is no shut such thing there's too much demand currently relative to the number of people willing to sell rates will change that you know this is the normal supply throughout the year that's going back 272821000 this is last year and this is this year historic low in terms of the supply because why would you want to leave when you get free you don't have to pay your mortgage you don't have to pay rent you just can't stay there for another year probably the state pays your rent in the state your food in the state takes care of your health care. wow this sounds a lot like the soviet union all right remember
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a draw to an inside straight when you're playing poker we're going to take a break and when we come back much more coming your way. seems wrong. just don't hold. me. to shape out. active. and engaged equals betrayal. when so many find themselves worlds apart and we choose to look for common ground.
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but going back to the kaiser report i'm max kaiser time now to go to brady swenson of salon pit client dot com full disclosure amen vester and salon as well as bitcoin brady welcome max super honored to be here thank you so much for having me excited for this conversation tell us your story how you found bitcoin you host the swan bitcoin swap lounge lifestream and i've been watching that for a year or so and you know i've noticed something a bit quiet and i've been in this game for
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a long time 10 years the same is like recently in the last year or south things have taken on a philosophical turn you know used to be about transactions that used to be about store of value now it seems to be about plato and socrates is this true and tell me about it absolutely i'll just begin it quickly about my journey came in to be occurring 2017 absolutely you know it's own love with its like most of us do and fell down the rabbit hole started a podcast called citizen because in early 28000 and started you know learning about this thing really of my idea was i just want to talk to these big coiners to know what's up and learn about this thing and share my journey learning bickley and that's exactly what set up podcast it for me really allowed me to get to the space and kind of kick off my career as you mentioned now i host a show for swan because where i am head of education called swan signal live that's on tuesdays we're moving that's wednesdays we're put pair together to great guests and i think put together some wonderful because shows we also have swan lounge as
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you mentioned on fridays so yeah you know as far as bitcoin philosophy emerging absolutely 100 percent in the past few years we have seen some great thinkers really come into the space and bring their diverse views that they have you know ideas they've gathered from other parts of the world other ideas and brought them to bear on because for instance robert breedlove. of comes to mind g g bringing quidam and these guys have brought some different ideas and you know created analogies or metaphors for us to understand big better and it's i think kicked off this sort of philosophical age because when that has helped us all achieve a deeper understanding of of what's going on here it makes sense that metaphysics went appeal to people that aren't to mete money rights epic coin ets on a flag by state money it's a global money it's here $1.00 money and it's knocking out gold which is spend the
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global money for 5000 years it's become met of money and now we've got metaphysical discussions about it and metaphysics as a kind of a global discussion you know wherever you go it's translated into many many languages the same concept because people have a need to communicate people have a need to understand and the same thing of money right people want to transact ideas with metaphysics but they want to transact good and services with something called money is money is it a communication medium or is it a trade medium i mean some how do you even say money now in this new environment and i had no idea what money was before between 0 idea. and i came into it thinking that you know just the way things were was run by governments given to you know given to and controlled by governments and didn't have any idea about the history
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of money and gold being you know really this naturally emerging sort of form of money that we organically or kind of in a grassroots way. decided that this was the best form of money that we could find and how these properties that sort of made it that way and yes it's a it's a medium of communication it's a way that we communicate our needs our once our desires to one another across space across time and then allows you know others to hear those and gather that information and then put together solutions to those problems needs of those once and put them out into the market and fulfill those needs and through that sort of cycle we build civilization monies i have discovered through the foundation of civilization and we have had broken money for 100 years plus now 50 years since we have the gold standard certainly completely broken
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foundation for civilization and big coin is really like the platonic ideal of money as a foundation for civilization allows us to communicate to each other those needs and once in a clear way without any you know sort of manipulation or you know disturbance in that signal a very clear signal and so i think that we will be able to build a brighter future what in one citizen because my tagline is you know welcome to the dawn of the big and i know you and stacy talk about that a lot especially on the orange peel podcast renaissance 2.0 i really think that with this really solid foundation of money of decline we'll be able to build a really really bright future and i hear this all the time particularly in the millennial gens a pickling community i'm a boomer and so i'm very familiar with american life post world war 2 or just built on consumerism consumption debt bingeing. and conspicuous
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consumption and vilification of savings you know like the new york times to talk about the savings glut or the paradox of savings they really hate the idea of people becoming individually sovereign and that's been the story for 5060 years certainly sounds post world war 2 americas been built on the global western economies have been built by fake it to make it shop til you drop. but you're your generation is saying rejecting that entire model and reading plato in stacking suppose she's now. their to stab us human. doesn't like that because they're entirely based on you going into debt to buy a house you can afford and a car you can afford so what's going to happen there are going to be a generational class do you feel a generational clash yeah i mean i do i've actually had this conversation with my
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dad and had to respect apologize for telling you know telling him that his generation is really really messed things up for the younger generations of the millennial zz have had it you know basically the hardest pass to trying to develop some kind of capital or build some kind of wealth of any american generation because so much of that wealth and capital was stolen from the future and brought into the present and enrich you know the boomer generation and you know it's hard to build wealth without capital and if all of the assets are sort of concentrate in the hands of this older generation of really benefited from the money prince or from the few out system it's really difficult to do the same as a younger generation and this might be you know the 1st generation in maybe american history will actually be worse off then their previous the previous
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generations because of that that phenomenon that effect so i think there is definitely this sort of generational divide that's been created by the money system and i do feel like we have a tool now to actually push back like the wall street you know occupy wall street stuff in 2008 was a reaction like we we felt like there's something wrong here and there is this real visceral feeling of it but there was no. you know defensive tool i feel like to move to no other option to really employ so now i feel like we have big coing as an opt out and so we have a way to move forward in this sort of peaceful opt in. collective way. i just really feel a kindred spirit with all the dick winners around the world including the boomers you say you can't build wealth without capital. so now this reminds me of something i say you can't have capitalism without capital and you can't have capital without
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savings and you can't have savings without offering a decent interest rate that would attract people to put money to work in their savings account so 'd this sets up another interesting conflict if you will or generational conflict so i would say that because and hard money is certainly a respect for how capital forms the basis of a strong economy whereas we have another huge threat politically in america right now which i think you could put under the heading of socialism you've got moneths a modern monetary theory or m.m.t. a universal basic income and a lot of other so-called left wing agenda is strong and that in washington you've got a whole bunch of politicians who are really hammering this idea that we need to start sending people checks every week to is that another conflict in this really it's not generational not in this regard this conflict it's more political are and do you find that political discussion going on and how do you see that developing over
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the next few years i feel like we're headed toward something like a universal basic income that you know over the past year that idea has really gained a lot of traction we're seeing it sort of tested now trial balloons of of these stimulus checks put out there in. i mean honestly i think that that might be the best path to transition into a big point world. so that like you're putting some of the bad money out there as it's being printed and giving it directly to the people instead of giving it directly to the big banks to lend out at low interest rates and the whole cancel in effect that we that we know know well and you have talked about many times in the show and just give it to the people and let them buy because that might be the best way for us to move forward so i would i would welcome you know a movement more toward a u.b.i. type system i think be a fairer way to transition to between world ok i get it so you're all for socialism
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as long as it. makes for monetary socialism has been benefiting you know the one percent point one percent for so long that you know you toward the end of this collapse might as well throw a little bit our way you know yeah fair enough now let's talk about another political conflict where totalitarianism and i'm talking about augusta and karstens is the general manager of the back of international settlements he's in the news a past week saying that it should be the central bank digital currencies not bitcoin that should be the next item a player for as the u.s. dollar fails so he's looking for a currency to tell terry and a 24 hour surveillance state guided by one very large individual somewhere in europe your thoughts you know this guy is running the central bank of central banks and you've had no mean prince on the show before she's at a great book called collusion which i really enjoyed and learned a lot from. it's kind of it's a great complement to the creature from jekyll island which focus on the
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development the fed this is more of like the international central banking system and yet he's sort of the final boss the big question i've always thought about him . and here he is talking about this was actually i look back it's it was on this clip is on twitter today going around but it was actually from an i.m.f. meeting in october of last year. and he is talking about central bank digital currencies cross border payments and how c.b.c.'s could help you know make those more efficient etc and make you know transactions between central banks more efficient. he drops a little nugget in there maybe revealed his hand a little bit because he was talking about using central banks will currencies to basically get rid of cash because we don't know what someone's doing with the 100 dollar bill but with the central bank digital currency we're going to know what they're doing and who they are and it's a it's a path toward this finalizing sort of the grand plan of this payment spend up to this orwellian future and for now the hair us want declines going global right this
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is true the rumors are true we're excited about our international rollout in kind of the 1st phase of our international business class will be able to fund their accounts with wires transfers and to be able to make instant buys all individuals are welcome for entities works updating businesses that have english language formation documents just in this 1st phase but we'll be working to make our entire suite of services like auto stacking our automatic recurring buys available to everyone outside the u.s. benchley but this is a great 1st step for us really excited great well that's going to thanks so much for being on the kaiser report thank you max all right that's going to do for this edition of kaiser report with me max kaiser and as they say average want to thank our gas price lassen until next time.
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americans love buying homes. and this was a fundamental part of how our political leadership and our country at large understood the bargain you get a home and then you know rebel right as the things you don't revolt if you have a stake in the system. be really interesting to dial it back and think about the longer deeper history housings men in the united states not just that question of the american dream but the bigger question if you dream is for.
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us regulators force astra zeneca to admit it's a coded job is less effective than previously claimed and points to inconsistency as in trials. joe biden says he expects to run for the white house in 2024 when pressed by reporters the 1st formal news conference of his presidency. if there will be a republican party to run against. a drag queen aside and a book called anti-racists baby the washington post is ridiculed for offering parents so-called book learning materials for toddlers we put the idea up for debate. we have. instead of being naive but it hasn't.
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