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call. more news today violence is once again flared up. these are the images seeing from the streets of canada. before a show. i am nice guys or this is the kaiser reports the global insert action against the banker occupation is growing in velocity speed and people and you know in america there. things are not so well people

like yet why because the price of gas hasn't hit the critical price level yet i've been talking about for a couple years once you cause to a certain critical price all right. and then they'll join with the other countries in the global insurrection again thanks to occupation let's talk of stacy her for stacey max of the beginning of the year we did say one of the primary weapons the banks are is use against us is inflation and we do see that in our headlines today max american anger at gas prices fueled by rising household energy costs so americans are now spending twelve percent of their disposable income on energy costs up from seven point seven percent in two thousand and two a new study by clear energy partners says there were two thousand and two of course as before the invasion of iraq when we went in there to secure

a cheap oil reserve well better to work out did it that's right not only did they lie blood for oil but they screwed up they they won in their love for oil and then they screwed it up well exactly because and also the population of america he supported the invasion of course they screwed up by not looking at history and one thing you find in history is that all wars cause inflation so you might be able to secure the oil reserves by the inflationary cost of military adventure is it's going to drive the price of that up anyway but i remember i remember now going back to the two thousand and one two thousand and two bird remember those guy chalabi. he said is pitch to the pentagon and to the american white house administration was that bill close to a billion dollars it goes to a billion dollars you go in there you take over iraq and then you purple hold that

in the first year with the oil revenues are going to build for you right now it's worth three trillion dollars and they don't even get the oil so this guy chalabi he's right up there with some charles ponzi you look up with a dictionary charles balls you should put a picture of chalabi and also remember you interviewed gregory macdonald the energy analyst recently and one of the things you brought up is that at the tipping point will come when a certain wrong certain class of americans start spending more and more up to thirty forty fifty percent of their income on energy costs and we're starting to see that in the numbers this study shows that in mississippi residents are paying up to five seventeen percent of their disposable household incomes for energy that includes household heating and costs and gasoline but gasoline makes up the most percentage of it that's right that's what makes the third world the third world you put fifty sixty seventy percent of your income on buying you know getting acquiring

food energy cooking oil and of course the first world or the first world because those people in office spend more than ten or fifteen percent of their income on stuff to keep him alive and now it's changing and the people who were in the first world are really now in the second world the first world is occupied by the devils five thousand crowd they're the new first world in that they never come down from the mountaintop retreats then the u.s. is now the second world and the third world they're still the third world so we're not just seeing the inflationary war against americans we're also seeing it in the primary area where we go to find those oil reserves mideast staggered by cost of wheat so weak prices jumped so we could go by seventeen percent. well weather in the u.s. and dryness in western europe are driving the recent rise futures jumped seven percent on one day and last week the biggest single day dollar gain in more than seven months and are now up for ninety one percent on the year so this is important

because that region which we now see the uprising is happening and it was many said caused by inflation and in particular in wheat prices so tunisians for example eat more we than anyone else on the planet they eat on average four hundred seventy eight pounds per person a year compared to americans which are hundred seventy seven pounds a cyclist who's on a downer and i love it too good couscous. and beat it but here's the thing about it you see these oil rich nations around the world like on the bed with american central planners back in one thousand nine hundred one to create a petrol dollar standard when the us with all the gold standard paper the vietnam war everything was rosy for a while i mean they had oppressive regimes and dictators you know the price of gas and food was commensurate with their status as third world losers but now due to direct a show effect of the monetization of everything that we used to be called debt and

now we've got a surfeit of cash creating huge inflation folks are getting screwed in the middle east too so it didn't work then it the whole experiment with the petro dollars it was a big crashing failure and now you're living with the not the people of course they are having the problem of the inflation but for the rulers you see their problem is that the people are looking to change the rulers they're looking for regime change so the rulers thought they were so smart in getting in bed with american foreign policies and monetary policies but now the rulers are being taken out one by one by being taken. in the middle east north africa spring ireland. you know greece regime change is the only answer because you're not going to teach these darts a new turret going to suddenly become a circle the regime leaders in these countries are all chinooks but if these prices

are any indication we could end up more like france and the middle east we could see rains of terror because other able to grow enough we at home countries like egypt and tunisia buy half or more of what they need from other countries and pass it along at deep discounts to their impoverished populations as an economist at the world bank said this system is not very sustainable because at these prices buying foreign we would consume about six to seven percent of egypt's revenues and then the article in austrian journal. by comparison the u.s. spent a similar proportion of its revenues on the wars in afghanistan and iraq last year so again it goes back to the insanity of the guys who run all of the financial system whether in tunisia or america or britain america can afford to we in the don't it anymore it has become the hole in the don't it i'm sure and domage proscar

go look at both of you have because you know he'll do it. but you know you keep your trousers are there buddy i don't want to go what he does the tone of. ok so these two stories then collide in my next headline max libya britain's one billion pound war libya conflict lo and behold could cost u.k. taxpayers one billion pounds over six months as cut off he clings on and the cost of involvement so or this is doesn't make any sense. cling on talk talk to the people about this talk to the people doesn't make any sense well as the article notes demonstrations in support of could afy are still common and dissident groups are unwilling to engage his loyalist army so it appears that unlike two needs and and egypt where they were able to overthrow their decades long dictators in those countries in a matter of weeks. it appears that there's

a little bit more support for gadhafi in libya but i want to note as well that this just seems like a pure racket because this the u.k. is more such a testing ground for this the chalabi method of selling the public on some private service whether it's running the immigration and border checks or all these n.h.s. fandango that keep on happening the boondoggles with computerized systems. of. these invasions throughout the middle east are very much. contractors private contractors these mercenary contractors they they make a lot of money on these and they sell these and they pitch these to the government to get involved it will only cost one hundred million pounds is what britain thought it would cost it's now up to a billion and who knows what will finally end but again it's causing more inflation for the average present in america or britain or tunisia or egypt peace is the

money of peace there's no money in peace you can make money in a piece of business you can make money peacefully overturning a regime goes on money and that this is a catholic church figure this out that's why they don't follow jesus jesus was about peace they said there's nobody of these we're going to start the crusades and get this max the name of this this boondoggle that the private contractors have sold to british taxpayers operation unified protector of souls of operation unified protector so that your brand of condemnation well that's what it sounds like yes it does but it's also what the british people need is a prophylactic against excessive military spending that's of the british people to the american people to prophylactic against excessive military spending the need to take the entire pentagon and slip it into a giant condom prophylactically insulate the american people from being impregnated by this ridiculously over. a lot of planning which is causing inflation and causing

the price of oil go up. get it down it's going up not down to understand that it's going to go up. as. well max yeah speaking of prophylactics china is now topping gold bug there is no better unified protector of course thank gold and china's investment demand for gold more than doubled in this first quarter of two thousand and eleven compared to two thousand and ten to ninety point nine metric tons they now outpace india which is historically the biggest investor in gold in the world and i'm golden euro's thank you guys urges all over the world as they've been telling you it's not just the chinese and the russians as the western ers to this is easy boat max global gold investment demand increased by fifty two percent to three hundred

sixty six point four tons in the first quarter helping offset a fifty six ton outflow from exchange traded funds which are popular investment tools in the west so we talk about this all the time when you're protecting yourself from inflation and that insane of bankers that run the entire world every single nation on earth and every single banking system on earth right go to a paper investment which they also control you know you cash in on your e.t.f. and buy physical gold well that's what it looks like is now happening there was an outflow from the paper and an inflow into solid gold gold real. and yet despite this the mainstream media the b.b.c. the telegraph you've seen articles saying the gold bubble has popped because people like george soros are selling their paper gold the fear of money prophylactic has popped causing all kinds of debt impregnation while gold stands rock hard

maybe all right stay here with thanks so much for being on report thank you max togo a much more going away so stay right there. a charmer been here broadcasting live from washington d.c. coming up today on the big picture.

welcome back to the reports time now to go to london and speak with a little end of a shift asset management ned old boy welcome back to the kaiser report good also me max let's talk about silver for a second here you wrote a very interesting piece about silver price. in its action in the seventy's were made a thousand percent move and why this is in fact indicative that we are nowhere near a bubble please start to talk about this i just thought that it was something worthwhile to put out for the for the for the nervous investor which is that you know we really needed to clear to washington to move metal from from week to stronger hands in order to go significantly higher than we already were and

there were lots of things that were going on in the background there's no question that the efforts that you've made to drag all sorts of new people into the market as well but i think what i was trying to express was that last time around this happened the same exact same thing happened yet a twenty eight twenty percent. move over a period of about two to three months which is quite normal any kind of market that goes into a seriously parabolic spike we're almost always have that moment where some of the weaker hands get shaken out and i saw she also the good now let's talk about what your thoughts are on the commodity mercantile exchange they're raising margin requirements four times in a week on solver is it the normal operations to do is it a sound policy or is it nefarious is it to tack on so how do you weigh in on this it sounds like fingernails on the blackboard to me. would be the way that i would describe it you know it's just desperation really i think it's just a sign of where we are in the in the guys here it's easy for people i mean i have i

have been investing the whole way through the cycle so these guys are drops thrown much but yeah that kind of behavior that kind of incredible hiking certainly would suggest that something is substantially amiss in the background all right now that i'm looking at all these protests around the world in madrid in italy in. ireland in greece all over europe all over the middle east all over north africa we're talking about now. tens of millions of people and it's growing quite precipitous les i would imagine this number will be in the hundreds of millions not in the not too distant future based on your understanding of the size of the silver market and if my if in fact one hundred million or two hundred million or three hundred million people who are dissatisfied with the banking occupation that's destroying their lives and creating hyperinflation if each one of these folks bought an ounce of silver. what would what would that do another on

a grassroots level putting aside the hedge funds for putting aside all the financial engineering putting aside all of the algorithmic trading at all the fancy high top line garbage that's destroying the integrity these markets on the grassroots level you get one hundred million folks buying an ounce of silver or more what happens to the price of silver i love this question and i'm very peace be able to offer my view on it i know it's not going to one hundred million which is clearly that is a big number one hundred million by now and. i think you could safely say there's going to be a very very very significant effect on the i think actually that biggest effect of all marks is the one just to be really awesome and thought like and what i was saying earlier is i just think it's like a mushroom being. a movement whereby it's more the psychological effect on other people or necessarily rather than the immediate price of a plea bargain hundred million one one day taking it out c h is going to have

a substantial effect on the price but i think it's more psychological point than they been an immediate pricing one because you know there is no doubt that there is still. a lot more thousand dollars silver circulating in the world than there are. so that you know you could make the argument that well there's an issue here with with blanks with making one ounce coins and i think there's some there's some truth in that but it's not simply netted off by this incredible growth of groceries eleven people want in and it's not genetic off it's it's removed completely from the table as a problem so i think one hundred million people find out so throughout his or ten. well. we would be in a whole different place very quickly i asked the same question of eric sprott on the show with the example of a million ounces and his response was knowledge you know i'm an almond institutional primarily institutional. money manager and you know we don't you know

we don't really think that a million ounces if you know it wasn't it wasn't going to register as a seismic event based on the numbers that he is used to so i am taking another bite at the apple here i'm looking what i'm trying to get from my experts like eric sprott or yourself what is the sweet spot in this curve if you know a million of corn eric sprott is not the number one hundred million according to what i just heard you say is yes you have a very very very big event you know in the market at some point so what you know is that we know what the aboveground supply of silver is you know the demand is you know the mining output is we know what the training volume is we know all these things so what is the speech but what is the number of that it would take to drive one dollar up in the price of silver is it a million is it two million is two point five million that number can be extrapolated from the information that we have what is that number i'm not sure it

can be extrapolating today to be because there's too much data we don't have the right so i'm not sure i agree with that actually but what i would say is actually being maybe that's the point is the thousand ounce ball is actually i think perhaps you know although yes without question the core and most important point is people across reasonable taking small small denomination coins under circulation i think actually the shorts are somewhat relying on this one thousand us dollars in the warehouses and i don't just mean by the way i mean you know in metals warehouses i think if if hedge funds and investors realize the difference more clearly between physical and paper silver they'd be much more willing to pay the insurance and stores charges for thousand us dollars i think of a lot of those got locked away i think and i don't think a number on it but i think that would have a very very quick. effect on the market it would cause all sorts of.

things that happen like for instance the bully indeed is still going to charge a whole load more for storing so for moving so because of the much more activity in the warehouse talking about the one thousand ounce bars and the warehouse we know that the comix warehouse stocks of thousands bars is plummeting you know now what i don't birds are seeing there and how much and how much of a problem is that at what point does comics announce that due to a drop in inventory they're going to have to do to make some other provisions while it looks like they were very close to that to me is to me is what i look like max i mean absolutely where we got to so you know the comix is a very small part of the overall gold and silver market it takes an inordinate amount of interest because of the visibility of it perversely is actually the visibility of permits or allows us to grab on to is being you know critically important but i think it's is just as important you know your your private bullion storage business is like vomit in switzerland you know this is where it was

a hedge funds etc that's where they all metal and i actually think that is probably the really really key point but yeah reference crime it's a no question it's getting tighter and tighter and. more and more people are watching what's going on there but with the benefit of the backbone through to the c.m.e. it may not be about to happen you know next month ok so just to just give you the numbers here according to zero heads comics is now down to thirty two million ounces down from eighty seven million in two thousand and nine so there's a large drawdown but i want to i want to just wrap it up here and focus in a little bit on this we're talking about the thousand ounces bar market and it sounds to me as though you're describing really two markets thousand ounce bar industrial institutional market versus the one ounce retail coin market let's call it and that according to you these are on duty. lines that don't necessarily

intersect but it seems that at some point if enough of the one ounce half ounce ten pounds silver bullion coins are taken off the market in the and we already have bottlenecks and shortages in coin dealers around the world at some point again this grassroots effort has got to bleed over into this institutional thousand ounce market because unlike paper money there is a limited supply of silver and we know that it's extraordinarily limited supply of saumur i mean we're talking about a billion ounces available half of that start up an e.t.f. now some of said well if the price goes i end up you'll see so beware of flying out of the kitchen cupboard and that's going to bring in another huge oil supply will be materializing as we saw in the in the seventy's in the early days of the eighty's as well but even taking into consideration that number you're talking about the total market that's less than a certainly

a less than one hundred billion in total ever in and that includes every silver button that's been attached to every sequin every gallon of every bob mackie gallon ever paraded at radio city music hall it's still quite a bit less in size than the seven hundred trillion dollar derivatives market which is own winding at this moment and people involved in that market are looking for sound money so even given their looking for it go ahead i think they're just beginning to sort of try and not with a thousand ballpoint just thinking about this creepy. ordering metal from. i'm not going to mention the name of the mining company because i shouldn't do that but from one of the money comes you can order still the three that feature production i'm not sure actually would not think about it whether it would make quite a significant difference if one wanted to do some kind of mentoring programs amid a certain number of coins if one was in the market to do that that's. removing

thousand dollars from the warehouse. which could be done i mean it would require a little bit of work in the background but i don't think it's a reason why that couldn't be possible that in a way would kill two birds with one stone if you're putting more metal out there and one out smaller you also removing the big balls from the from the warehouse and maybe there's something you can beat down there. ok now this is what i like about. the box thinking now reply me again because i want the listeners of the viewers to understand what you're saying here run run not biased again where you said that and i like what you're saying is that two parallel lines here between between the market and closing them is an issue and maybe that's the point maybe we need to try and make them converge by by you know supporting the private minting initiatives the likes of which you've been involved with and actually rather than

securing the rule silver from a mine in making sure that the only time one coin in. any someone mince coins is by taking delivery of the thousands balls from the warehouse which will put pressure on them while also getting that into people's hands i think that could. that could so quite quite. as i think we need to look into that the next few weeks as you might still be something that's worth investigating right there that think that's a very interesting and. up until now no one's really made that connection so ned once again proven why everybody in london is talking about data leyland and the fact that he is a stark raving genius over their shipyard asset management and they're also talking about some of the ties that you wear because they like the fact that even though underneath that button down shirt is a stark raving genius he still managed to wear the conservative ties i know to say anything back. i thank you for the compliment anyway all right well that's going to

do it for this edition of the kaiser report with me max kaiser and stacey however our thank my guests ned naylor leland of asset management and if you want to send me an e-mail please do so at kaiser report at r t t v that are you it's all next on this is nice guys are saying by all.

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