this is all james bond. than the actual information. thank you. the whole big will around the world. be. three thirty pm in moscow these are your r.t. headlines sudden unity of palestine's rival factions may harm israel's position in the region the reconciliation was brokered by a post mubarak egypt leaving tel be even more isolated than ever. a former nazi death camp guard been sentenced for assisting in the murder of thousands of jews ending an eighteen month long trial and decades of waiting for the relatives of his victims. joint action against a common threat the president of pakistan in moscow to work out new ways alongside

the russian leader to stem terrorism and drug trafficking. uncovering low standards and high finance kaiser report coming your way next. max kaiser this is the kaiser report well let's go back to a secret others pose location somewhere in the united states and talk about spacing over things or can you hear me there what's going on. back so i can see you as well you're looking great other fantastic let's look at some of these big stories here stays here or is the commodities boom over and talk to me about this one yes the newspapers oh all of the television news shows they're all asking is the commodities boom over a bubble as well and here's

a chart here from the guardian a plunge an oil and gold prices has raised speculation that the long boom is over do you agree obviously that people participating in that line poll are a bit smarter than the headline writers at the guardian forty percent say yes the boom is over sixty percent say no it's not it's going to continue because of course the crisp question max would have ben is the bear market is the collapse of the dollar over right that's the inverse of the sol phenomenon it's really a story about the collapsing dollar and we had a bit of a relative strength of the dollar recently on the path of mine going on in pakistan let me ask you about this what i'm saying here jim graham you know the famous newsletter writer he says that the current monetary system in the us he calls it a collectivist top down tyranny talk about yes this is the debate in new york

city last weekend and he called it as you say collectivist top down tyranny a clever and a nimble he said play the system for what it is worth. old he referred to as the people's money and the dollar as america's credit card well that's exactly right this out of control credit card being wheeled there for every war america says oh let's i'm very proud to stand get out the american card oh it's invade iraq and use iraq and burghardt and of course any time i need to pay the debts they just print more money and the rest the world is saying wait a minute wait a minute wait a minute instead of getting all those worthless paper we're going to buy real stuff like oil commodities gallen solver max in fact also acted to be was david stockman the former reagan poland be director of the office of management and budget director said the gold standard what do you travel out forty years of deficit and now number this is important to remember because when you're here in america you

see that people are it's a very partisan very right left very red state greens red state blue state they're all debating which one of these whether it's liberals or conservatives that caused the deficit and there are screeching about how to cut it and it's julien's and trillions of dollars and they're talking they're fighting so hard over thirty eight billion dollars when in fact the answer has been right in front of their faces the whole time as david stockman suggests with a gold standard the people's money all the darks of the kleptocrats and the elites could not have stolen so much from them exactly right and another big player of course of the federal reserve bank looking out of headline here out of made the rich richer well max this is a headline from m.s.n. money and it's an opinion piece but it's an opinion that is right now being ignored as the commodities fell back

a little bit on the way up to ever higher numbers the q.e. two project was supposed to ease borrowing it consumers to spend again but lo and behold it has benefited only a few walgreen. using most people's cost of living and you see that in these rich list like sunday times rich list came out last weekend you know the richest in britain all these billionaires are almost at the same exact amount of wealth that they had at their all time peak which is right before the financial collapse of course the bottom ninety nine point nine percent aren't nowhere near they're still down twenty thirty forty percent right top down tyranny yet as opposed to bottoms up competition there is go of building to compete anymore it's all been taken away by these top down coptic kratz let's move over to europe the great favorite topic of ours is of core greece and ireland now the european union as they're considering requiring collateral for greek aid some extra collateral sounds like are moving in

from the kill there now that actually require physical collateral whether it's the crop or less or the income stream from tourists paying to get into the acropolis now they're saying that if you need extra money and of course they knew from the very beginning that was that how it was rigged to that they would need more money oh yeah it's a lot of buyout harass the raid of a country to secure those income producing assets using borrowed money that was borrowed using these assets as collateral to get the loans to take over the country and this is what i don't think those greek people understand they are the subject of a michael milken asks type hostile raid at the end all the assets will be sold off and they'll end up with nothing and a few people or park of billions and then they will have of course lost their sovereignty merkel's budget spokesman would just have to bite the bullet we need

help greece hope would solve what's the alternative we don't want to be pushed over the edge into restructuring yes we need to help them help themselves again that's another thing that empire always did max think of. the british empire going down to africa to help those people help themselves help these pagans help these barbarians it's always about helping them help themselves yes missionaries of debt spreading the gospel of being indentured servants for the rest of your known existence max i have a headline here to go with that statement here's how much german banks are on the hook to the periphery so this is a great chart for credit rate downs at harrison german banks owed what so greece owes german banks twenty eight billion euros which is not much compared to those other big bowls of debt you see there portugal owes them twenty eight point seven billion ireland owes german base one hundred fourteen point seven billion and

spanos one hundred forty six point eight billion so i think what is important to look at when you look at greece and you look at their assets in the sovereign right now having to be used as collateral for these loans what they're really worried about are these bigger states are telling ireland and they're telling spain you know we're going to take all your assets just like we're going to do to this little puny country relative to you if we can take it from then we've set a precedence and we're going to take yours on those rumors or abounding that greece is going to default and yes and p. of course downgraded greek again and now greece is questioning the integrity of the s. and p. . so maybe we'll get a good old fashioned dust up down there in greece or play the the greek people will win against the the financial terrorists now there's an interest or the u.k. has nine trillion pounds of savings shortfall what's this about up but again we're

talking about top down tyranny so when we start at the top of the show asking the question is the commodities boom over or i is the fiat's currency collapse around the world is is that spending well you know nine trillion pounds which is. what fourteen trillion dollars needs there's a shortfall of that amount for people retiring so where is that money going to come from it's going to be printed or. older brits are going to have to accept a severely reduced standard of living yeah it's similar to the peak oil story i remember a story from a couple weeks come of people were driving around looking for gas that was cheaper or some other gas station until they ran out of gas then they were stranded and then they had to call the aaa service to bail them out because they had run out of gas or they've called nine one one and said i don't know if you are run out of gas so we have all these pension systems you put to credit you economy people have no

idea how to prepare for this and just one day there's no more money so they have to hit the spigot print print print and of course this is what is telegraphing in the prices of commodities particularly precious metals let's move on because again we're talking about commodities and there aside from the money creating there is also the the matter of supply and demand so let's look at the the other big important commodity big drives the world let's energy iraqi oil production cut back planned adds to global supply fear so iraq has just announced they're preparing to have its official oil production in target forcing companies including b.p. and shell to renegotiate their contracts so they're now setting a new target to produce between six point five million and seven million barrels per day by twenty seventeen down from the original plans to pump twelve million barrels that sounds like quite a lot in the oil market for sure. yeah well they're also arguing supply and demand

their self interest they're saying well if we can't. you know seven million extra barrels of oil per day. that will drive the price down of our limited our finite resource though responding so we're not the world recognizes peak oil opec has recognized peak oil now they're starting to ration oil well yes they're starting to think of their own self interest and they're in a new world that we don't know where these currencies are going and what how what would happen post dollar collapse and then i have one final headline here on the energy market and it is a really good analogy for the whole financial system the currency system what people are willing what toxins people are willing to think because they're kind of brainwashed what they're willing to destroy their children's futures their children's health their grandchildren's health and futures frak and rude the rise

of hydraulic fracturing and this is from the telegraph we're talking about inflammable tap water cancer threats and earthquakes probably coming soon near you fracking has been most vigorously criticized for the damage caused by its waste water which contains carcinogens such as benzene and radioactive elements such as radium some of these chemicals are in the secret cocktail of liquids injected in the wells of people just like what goes on in the fed it's all secret you're not allowed to know what toxic brew of assets are behind the u.s. dollar backing the u.s. dollar backing the fed and their aaa rating you not allowed to know that and yet people are like their children are coming down with nose bleeds and nazia and then they're still allowing this to happen because they're being paid a thousand dollars or ten thousand dollars for the right to feel currency for the rights to drill under their lands. sounds like

a dire situation of fox the same gonna stand the value of their own lives first of the corporate profits things. rated at their expense all right thanks again for being on the kaiser report from some undisclosed location in the united states thanks max don't go away when we come back much more so stay right there. for some this is just a parliament building in britain. but sixty six years ago it was the final talk of. the last major offensive for the red army.

its capture became the symbol. for fascists since. the victory over nazi germany. the fall of barely on our team. welcome back to the kaiser report imax kaiser and as promised. the man the legend eric sprott us brought us that matters eric sprott welcome to the kaiser report max are very happy to be here particularly because you've been such a stalwart in pushing people towards silver which i think is the best recommendation anyone could make this decade and i'm happy to aid and abet that cause in any way i can all right eric sprott you call silver the investment of the decade i take it you still stand by that statement give us a rundown on where we are currently in the silver market well i've always looked at

the silver and gold as a situation where the demand will exceed to supply and when i look at gold in the last decade we had a great change in from the demand side where central banks used to be sellers and became buyers we used to have no e.t.f. that we had an e.t.f. he said mining companies would hedge now they don't hedge and the shifts and ownership had been dramatic in a market where we really see no rise in supply in the case of silver what really turned me on about twelve months ago was as we witnessed people buying silver you realize that there would not be enough silver to buy and as examples the u.s. mint today so as many dollars of silver as dollars of gold when you realize that silver traded a forty to one ratio means you're buying forty times of physical ounces of silver as you're buying gold when we sold our gold e.t.f.

we raised four hundred forty million when we sold our silvery t.f. we raise five hundred fifty million james turk of gold money he sells more dollars of silver and gold we have a little company called sprott money that sells gold and silver coins we sell him way more dollars of solar than gold and so here we are in a situation where the price is forty to one but the dollars going into it are almost there he will so i can't see the price ratio staying in this. range all right now recently impreza silver got up to that all time high of fifty didn't quite break it then a lot of things happened concurrently first jim rogers opened his fat trap and said that's over it was a hyperbolic move and this it seemed to get the hedge funds to start selling silver but more importantly this is what i want to talk to about because this there is a lot of chatter about this i want you to help me straight this out for folks widely reported that you sold units of p s l v this is the business also over trust

the it's not really an exchange traded fund it's an actual trust with actual metal in it many took this to as an indication that you had sold so over there is a lot of chatter about this what what exactly is going on there eric sprott well max that's totally the wrong interpretation that people should have made as you know we have to file to be a seller because we're a major owner of the units i got up to about a twenty two percent premium to the underlying that asset value we had filed we had some sales but as i stated last week every dollar of those proceeds went either back into the silver market because fortunately we can buy silver basically at spot and or it went into silver shares we have been a net buyer of silver every day i will be a buyer of silver today i'll be a buyer of silver to morrow so we have not lost any faith in what's happened to silver and if i may i'd love to comment on what happened last week and i'm sure you

must have the same thoughts but in my mind it was just another one of those raids that we experience from time to time it could bludgeoned in a very quiet hours of last sunday night there was no particular reason for it and then we end up with five margin rate increases it just reeks of somebody manipulating the price of silver down and that's totally my attitude i have no fear of silver here he. yes it will be parabolic but it's going to be way more parabolic than we have today i've always thought that silver we traded a sixteen to one ratio in terms of price to gold. to make it simple if we measured gold at sixteen hundred that would suggest that silver can go to one hundred i think it might even overshoot on the downside maybe trade as much as ten to one and the reason i think that is i believe that gold today is the defacto reserve currency it so performed everything for eleven years silver is always been

a currency people are now treating it as a currency much as you are recommending to people and it's a very very small market there's no way that with roughly fifty billion dollars of silver in the tory around that we can make it a currency at these price levels so i see the price going much higher you talked about the price action and so recently described it as a raid now let's let's talk about some of us specifics there because people people understand what this means if you're talking about the fear of money world and the central bank where all they have an incentive to keep interest in paper vs metal this has been in the store attention so periodically the there's an incentive to try to keep metals is cheapest possible to get people more interested in paper but on the mic how does specifically go through some of the bullet points of how a raid goes down when they attack silver and gold well i mean max that first of all i base this on our experience over the last eleven years in the gold and silver

markets we get these very very sharp declines i think last week's decline was premeditated it happened in the early hours of sunday slash monday morning when the markets really weren't really operating england was closed china was closed it was a great opportunity just to mark it down and then of course in company margin increases just as the price of silver is down six dollars which puts everybody under. stress. so i think it was very much orchestrated one of the things that i think we should all look at is the trading of silver in the paper markets which i mean the comix and the s.o.v. last week and probably every one point two billion ounces per day there's only seven hundred million ounces in mind in a year there's only thirty three million ounces of physical silver at the comix it's available for delivery by the commercial shorter's i mean if if something like

three percent of the people who are trading silver three percent in one day demanded physical delivery would be no silver on the core next so i just i look at all these paper markets and i just believe it's paper it's guys pushing buttons who really have no vested interest in silver other than trying to move the price one way or guess which way the price is going so i think the key markets the physical market what are people doing in terms of converting their fee had over to less silver and gold and obviously that is a very has a lot of momentum today and i don't think this rate is going to work even know what it was shocking last week when i've done a lot of work and you're newsletters and your research on the supply side of what really is above ground in a silver market and you notice that some supply was overstated or double stated you correct me if i'm wrong i even you're talking about there being approximately a billion ounces of supply half of which are an e.t.f.

it at some pundits last week were suggesting that oh there's actually eighteen billion ounces out there so over what a lot of the true numbers erik's well i don't know that there are good numbers because most of the numbers that have been prepared for the silver industry come from a couple of sources which we don't rely on because we think the data is misleading and most of the they always show the demand of supply is silver balanced every year which we know was. because. and we prove that the best known to man was way beyond the investment demand that these organizations were suggesting so i for one don't believe any of the data one billion ounces that the commonly referred to number as you know between the various e.t.s. and trust fund such as ourselves you can easily account for half a billion of those one billion houses so they're really not available and half a billion ounces at forty bucks announces it is a mere twenty billion dollars which is hardly

a lot considering what institutions could do in terms of moving into that market and i might comment that you know the institutions were slow to get out of the gold market and you know i described some of the people who bought back in zero eight is johnny come lately because we already had an eight year bull market in gold but a lot of people thought it was the start of something and of course the timing was good because of q.e. one. those same institutions i do not believe are involved in silver to any extent and i suspect that they will get a go with silver and of course once they get involved with silver there's going to be a horrendous shortage of silver and max one for the thing back to the rate as you well know the commercials are short silver and i think it was just getting totally out of hand from their positions when silver was fifty dollars an ounce the margin they had to keep putting out and that's why i think this raid was perpetrated was more to get the shorts off the hook than it was to reduce the speculation of the long

and you know we always characterize that people as that are long as speculators well what about the people who are short is that's an even more of a speculation when you realize that your losses are unlimited so i think it was just like the way they nailed bunker hunt is what they're trying to do this time but i don't think they're going to be and that's successful because there's so much interest worldwide in silver. much of it a credit to you and others that have recommended silver but it it's a world by phenomenas not one guy taking on the comix right good point is the speculating on the short side is far more inconsistent with keeping a fair and orderly market than any so-called speculating on the long side let me ask one last question i have the c.e.o. of endevor silver on the show a couple of weeks ago and i asked him the question what would happen the price of silver of a million people bought announced today if it took you know a million ounces of silver off the market in one day one swoop one order his

estimate was well you know the market would have to immediately discount that as a phenomenon that what perpetuate for three hundred sixty five days of the year and you'd see a thirty percent markup on the price of silver immediately that was is that was his answer so i put it to you the question a million people bite out of silver today what happens to the price of silver if anything but i think the more important thing max's. you know what the big money does i think it's important that individuals want to buy an ounce of silver and almost anyone in the world can buy an ounce of silver maybe it's not a million people but it billion people. but you don't appreciate that there's a lot of institutional money around for example we're going to be starting a mutual fund just for canadians that will only buy silver that hopefully will be tomorrow in their tronto and we would expect a large flow into that fund which in itself might buy a million ounces so if you can if we get these institutions that want to be involved in the silver market it will be i think more significant than individuals

certainly more significant than one million individuals but i think there might be more than a million people who realize that the writing is on the wall for the fia currencies that would be much prepared to buy well more than an ounce of silver that what we know the markets are dominated by institutions you know the institutional money is coming in we know that the central banks are buying we know that major and funds like john paulson are this huge position and all but let's talk about that retail person that wanted to out spire i know that's tired target audience but if this goes out to the world of millions of people this trial goes you know two hundred million people all over the satellite system. the point is can't can we through that one or two ounce buyer what i would point do you start to they start to take over the price discovery vessel i'm talking about this huge army of people who are disgusted with the fraud in the banking system well max i have no doubt that people are doing that already so for example i mentioned it we have a website called sprott money dot com where we sell small amounts of silver to

canadian investors canadian retail investors and i always encourage anyone who could tell you to buy gold or silver as it is an alternative to fee of currencies i think that the audience is much larger than a million and you know when you see what's going on in china and india where they have you know many billions of people who apparently line up every day to buy gold and silver it's going to be a big factor in the silver market there just is not a big surplus of silver and when you're bringing in a marginal new investor it'll just exacerbate the shortage and i believe we already have all right eric sprott leave it there thanks so much for being on the kaiser report ok max my pleasure all the best to you are writing about is going to do it for this edition of the kaiser report with me max kaiser and stays there but i thank my guests eric sprott if you want to send me an e-mail please do so at kaiser report r t t v dot ru until next time this is nice guys are saying bio.

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