hello this is r t the international news bill calls him from moscow thanks for being with the top story of. the u.s. pressure on syria as the state. hold president assad's government accountable for the bloodshed of the recent shelling of residential areas the total number of those killed since the march is near a hundred. fresh nato airstrikes hit the capital tripoli reportedly. leading to more civilian deaths. his first t.v.

appearance in more than a week. also. guilty of the crimes the execution of cows and a few second will. be sentenced to five years in prison but released pending appeal . if the commodities boom in the collapse of the dollar really over. max kaiser this is the kaiser report well let's go back to a secret others close location somewhere in the united states and talk to her face her can you hear me there what's going on. i can see you as well you're looking great oh that's fantastic let's look at some of these big stories here stays here

or is the commodities boom over and thought to me about this one yes the newspapers oh all of the television news shows they're all asking is the commodities boom over they often call it 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 the people participating in the pull are a bit smarter than me headline writers at the guardian forty percent say yes the gloom is over sixty percent say no it's not it's going to continue because of course the chris question max would have been 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've had a bit of a relative strength of the dollar recently on the path of mine going on in pakistan

but let me ask you about this what i have seen here jim grant you know the famous news letter writer he's. the current monetary system in the u.s. he calls it a collectivist top down tyranny toplessness about the senate debate in new york city last weekend and he called it as you say a collectivist top down tyranny the clever and the nimble he said play the system for what it is worth. all he referred to as the people's money and the dollar as america's credit card well that's exactly right. out of control credit card being wielded for every war america says oh let's invade pakistan to get out of the american card oh it's an american vet guard and of course need to pay that they just print more money and the rest the world is saying wait a minute wait a minute wait a minute and then of getting all those weapons paper we're going to buy real stuff

like oil commodities gallen solver max in fact also happened to be with david stockman the former reagan o.m.b. director the office of management and budget director said the gold standard wouldn't have allowed forty years of deficits and now remember 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 people who 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 chileans and trillions of dollars and they're talking they're fighting so hard over thirty eight billion dollars when in fact their answer has been right in front of their faces the whole time as david stockman suggests with the gold standard the people's money all the guards and the kleptocrats and the elites could not have stolen so much from them oh yeah exactly right and another big choir of course of the federal

reserve bank looking out of headline here out of me the rich rich you're 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 one of three. using most people's cost of living and you see that in these rich list like sunday times rich list came out last week and 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 no building to compete anymore it's all been taken away by the top down kaka kratz let's move over to europe the great favorite topic of ours is of core greece and ireland now the european union has said they're considering requiring collateral for greek eights an extra collateral it sounds like they're moving in for the kill there now that actually required physical collateral whether it's the acropolis 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 that to that they would need more money oh yeah that's a lot of buyout or a hostile 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 most greek people understand they are the subject of a michael milken asked type hostile raid at the end all the assets will be sold off and they'll end up with nothing and a few people pocket billions and then they will have of course lost their sovereignty birdcalls budget spokesman just have to bite the bullet we need to help greece help itself 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 the 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 massive headline here to go with that statement here's how much german banks are on the hook to the career free so this is

a great chart from credit rate down to 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 banks 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 just a little puny country relative to you if we can take it from then we've set a precedence and we're going to take you're wrong as rumors are abounding that greece is going to default and the s. and p. of course downgraded greek that 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 you're going to strike the u.k. is nine trillion pounds of savings shortfall that's the cigar well 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 is the fee on its currency collapse around the world is is that spending well you know nine trillion pounds which is. what fourteen trillion dollars needs that 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 ago memory people were driving around looking for gas that was cheap or some other gas station until they ran out of gas and 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 call nine one one and said i don't know do i run out of gas so we have all the pension systems credit if 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 aside from the money printing there's also the matter of supply and demand so let's look at the other big important commodity that drives the world let's energy iraqi oil production cut back planned to global supply fear so iraq has just announced that 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 cut in the oil market for sure. yeah well they're also arguing supply and demand their self interest they're saying well if we pump. you know seven million actual barrels of oil per day. that will drive the price down of our limited finite resource that responding so whether or not the world recognizes peak oil opec has recognized people well now they're starting to ration oil well yes they're starting to think of their own self interest and in a new world that we don't know where these currencies are going to end what how what will 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 in a room the rise of hydraulic fracturing and this is from the telegraph and they're talking about inflammable tap water cancer threats and earthquakes probably coming soon near you fracking has been most vigorously criticized for the damaged 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're not allowed to know that and yet

people are like their children are coming down with those leaves and nazia and and they're still allowing this to happen because they're being paid a thousand dollars or ten thousand dollars for the right of currency for the rights to drill under their lands well that's sounds like a dire situation of folks the same gonna stand the value of their own live person of the corporate profits being done. raided 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.

we'll. bring you the latest in science and technology from the realm for. the future coverage. welcome back to the kaiser report imax kaiser and as promised them a roll legend eric sprott sprott asset management 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 the rundown on where we are currently in the silver market well i've always looked at silver and gold as a situation where the demand will exceed to supply and when i looked at gold in the last decade we had a great change and from the demand side where central banks used to be sellers and became buyers we used to have no e.t.f. now we have e.t.f. used to have mining companies would hedge now they don't hedge and the shifts in ownership have 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 realise that it would not be enough silver to buy and as examples the us mint today so as many dollars of silver as dollars of gold when you realize that silver trades

at a forty to one ratio means they're buying forty times of physical mounts as a silver as a bottom gold when we sold our gold e.t.f. we raised four hundred forty million when we sold our silvery t.f. we raised five hundred fifty million change 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 in way more dollars of silver that. gold and so here we are in a situation where the price is forty to one but the dollars going into it are almost dead equal so i can't see the price ratio staying in this range all right now recently price of or got up to an 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 hit the hedge funds to start selling solar but more importantly this is what i want to talk about because this there's

a lot of chatter about this i want you to help me straight this out for folks why they reported that you sold units of p s l v this is the physical sober trust the it's 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 and 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 debt 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 very quiet hours of last sunday night there was no particular reason for it and. 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 and yes it will be parabolic but it's going to be way more parabolic than we have today i've always thought that silver would traded a sixteen to one ratio in terms of price to gold. to make it simple if we imagine gold at six 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's auteur firmed 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 inventory around that we can make 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 and now let's let's talk about some of the specifics here because people people understand what this means if you're talking about the fee at money world and the central bank where all they have a incentive to keep interest in paper versus metals this has been in the store attention so periodically the there's an incentive to try to keep him out all the 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 so ringgold well i mean max i first of all i base this on our experience over the last eleven years in the gold and silver markets we get the 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 rate weren't really operating in. when was close china was close was a great opportunity just to market down and then of course income the 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 comix and the s.o.v. last week could 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 could be no silver on the comix so i just i look at all these paper markets and i just believe that 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 has silver and gold and obviously that is a very has a lot of momentum today and i don't think this rain is going to work even though it is it was shocking last week when i've done a lot of work and your newsletters and your research on the supply side of what really is above ground in a silver market and you noticed that some supply was overstated or double stated

you correct me if i'm wrong you're talking about there being approximately a billion ounces of supply half of the which are an e.t.f. it at some point in its last week or suggesting that oh there's there's actually eighteen billion ounces out there of seller what are the what are the true numbers well i don't know that there are good numbers because most of the numbers that have been prepared for this silver industry come from a couple of sources. yes which we don't rely on because we think the data is misleading and most of the they always show the demand and supply is silver balanced every year which we know is poppycock and we prove it the best when demand 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 the tween the various e.t.s. and trust fund such as are cells you can easily account for half

a billion of those one billion ounces so they're really not available and happened 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 describe some of the people who bought back in zero eight as 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 involved with silver and of course once they get involved with silver there's going to be a horrendous shortage of silver and max one further 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 the people as that or long as speculators well what about the people who were short is that's an even more of a speculation when you realize that your losses are limited 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 that successful because they're so much. just world wide and silver. much of it credit to you and others that have recommended silver but it's it's a worldwide phenomenon not one guy taking on the comix right good point it is speculating on the short side is far more inconsistent with keeping a fair and orderly market then any so-called speculating on the long side let me ask you one last question i have the c.e.o. and the ever 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 is 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 a billion people. but you get 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 the 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 earning more significant one million individuals but i think there might be more than a million people who realize that the writing is on the wall for defeat currencies that would be much prepared to buy well more than an ounce of silver yeah but we know the markets are dominated by institutions we know the. the money is coming in we know that the central banks are buying we know that major hedge funds like john paulson are that huge position and all but let's talk about that retail person that one or two out fire i know that's not your target audience but if this goes out to the world of millions of people the show goes you know two hundred million people all over the satellite system the that point can't can we go through that one or two ounce buyer what i would point do you start do they start to take over the price discovery that's what 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 that we have a website called scrub money dot com where we sell small amounts of silver to canadian investors canadian retail investors and i've always encouraged anyone who could tell you there by gold or silver but as a as an alternative to fee of currencies i think that the audience is much larger than a billion 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 bring in a marginal new investor it'll just exacerbate the shortage i believe we already have all right are spread out leave it there thanks so much agree on the kaiser report ok max my pleasure all the best to you already that's going to do it for this edition of the kaiser report with me max kaiser and stacey arbor i thank my guests eric sprott if you want to send me an e-mail please do so i kind of report

it r.t. t.v. dot ru until next time this is max guys are saying bio. all

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