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i am extra eyes are this as the kaiser report the eco eco disaster the ecological disaster the economic disaster it's all tied together here at the time as we know it's facing over max yes everybody keeps on being baffled and surprised remember we did an episode dedicated to wall street was baffled by all the economic data coming out showing things are worse than what they say it is and everybody has said it's been a financial and economic melt down well i have a new phrase for you it's melt through i think this is what we have actually been experiencing is economic melt through well i think i just pick up on this for

a second because remember after the initial crash of two thousand and seven two thousand and eight we have the stimulus and you also have the bailouts and then you had a bounce which was call the recovery but now even according to time magazine there was no recovery there was the beginning of what you're saying now a melt through you will worry melting through to your melting through to a place called depression that's correct well first let me set up what the analogy refers to fukushima nuclear plant may have suffered melt through japan admits so the most. nuclear fuel in three reactors one two and three at the fukushima daiichi power plant is likely to have burned through pressure vessels not just the core according to a report japan just gave to the international atomic energy agency so it is the first time japanese authorities have admitted the possibility that the fuel

suffered through a more serious scenario and a core melt down now let's go to the economic melt through we're seeing in the rest of the world we need an evil plan to for oil our own leaders what one second on the financial meltdown of course i can be much of the top go tokyo electric power company they bought off the regulators this is what happens when you lead private companies do something that the government should be doing and end up with this huge catastrophe and wealth through and of course the pollie silence about and so as the media so too in the financial severe you have a complete meltdown or two thousand and eight when i also went to congress to get two hundred seven hundred fifty billion dollars but because the regulators and wall street are owned by wall street similarly you had an economic meltdown which is happening and in real time well this is what this article here is talking about from market watch this is paul b. feral and he's talking about that we need to defend ourselves from the coming

american winter and it goes with the nuclear fallout situation this is a financial nuclear winter and he talks about the top one percent had nine percent of the wealth in one thousand seventy eight now they have twenty three point five percent he says the elites are violating the sacred compact between that higher authority the leader and his people they possess the right to rule as didn't bark aside in khadafi and a revolution is ignited well it calls of the elite contract there's another word for it going back a couple hundred years it's called the social contract as iterated by thinkers of the enlightenment and of course famously rousseau. it talked about the social contract and when the social contract is broken it's imperative that the people revolt and seek a regime change i mean talking about this melt through concept you know i think about people like lloyd blankfein c.e.o. goldman sachs he's like that he's like that monster from alien you know it's starts

to drip through the spacecraft like yours lloyd blankfein is like. your assistant. and he's just destroying things because of the toxicity of the derivatives that goldman spews out of their toxic organs into the spaceship earth. and it's of disgusting display of toxic financial melt through and they don't do jack about it so the mel through and the nuclear industry happens when the container vessel is breached in the financial and economic system we see a financial melt through all of the regulations and the regulators so for example glass steagall was the container vessel for a potential financial melt down because that has been breached we see it melt through and paul the feral says that you need to have a plan he says an evil plan an evil plan to him is something that the elite want

you to think of it so it's so masterful it they'll consider it evil and you need a plan now for self-defense for counter-attacks for survival things are bad out there and they are going to get worst trust no one believe nothing you hear nothing right well on the containment front we've got less to go of course put in place that the crash of twenty nine when the creation of the f.c.c. and the federal deposit insurance corporation f.d.i.c the groundwork that was laid for the boom that is the american century created by franklin delano roosevelt as a reaction to the banks or as in the one nine hundred twenty s. position limits on commodity. futures another containment margin limits on commodity futures another containment and all of these things the commodity futures modernization act being screwed introduced in year two thousand scrapping much of the containment these are the elements that opened up the floodgates of toxic derivative trading and the alien like exposure to the global economy from the

monsters of derivatives like the blind finds in the jamie diamonds so we're going to look at one little other headline that this is also what the feral research firm to in this is from newsweek mad as hell they are that fuel the arab spring is now boiling over in europe could club wielding protesters be in america's future too the answer of course is in the picture you see in this newsweek article and that is people with images of jamie diamond the head of the c.e.o. of j.p. morgan chase the biggest bank in america one of the biggest banks and as you see they have sacks of money there that they're saying that he stole from the american taxpayer yeah well that's right the arab spring as they call it sweeping europe will come to america i think when it comes to america it'll take the form of mass street what they call strategic default on all the under rock water mortgages that

were fraudulent lee sold to americans and they still find themselves in the real estate market like in miami for example and other locations have it new lows that even despite all of the pumping up by the by the fed in the stimulus by obama the real estate market is still crashing and these people are underwater and as a revolt the civil unrest that we'll see in the u.s. will not take the form necessarily of people on the street i think americans are a bit savvier than this i think what they'll do is they'll stage a multi million single day mass walk away from your mortgage this will be america's cairo moment when somebody organized on facebook a ten million strong sign. sanny asli simultaneous mortgage default but in the meantime we still have this coming financial melt through happening max and how it happened in tech oh situation in fukushima was because the regulators and the people they were regulating were actually one in the same so let's look at this next headline which is actually

a video and this is jamie diamond hijacking ben bernanke u.s. press conference to demand an end to regulations he says we don't need them anymore because we've passed with flying colors the two stress tests done upon the banks right one by the treasury and one by the fed but then he also says this made a list of all the things have already been done and a few things are going to be done so we're already doing most of good actors are going through with rich old mortgage brokers and obviously some banks unequivocally jamie diamond is lying through as to if he is the number one bad actor they've got a ninety trillion dollars balance you know there j.p. morgan that they use to confiscate wealth from americans and people around the world ben bernanke if he had a spine if he had a pair he what a bitch jamie dimon at that conference and told him look we're the boss you're not the boss and then you also would have admitted that ben bernanke is beholden to the european central banks that's really what's going on the reason you've got so much

turmoil in the u.s. is that as obama himself said this past week the u.s. will be applying funds to help bail out greece ok how does that happen through the global banking system which ben bernanke answers to which jamie diamond is a mere middling management so long well but the important word here is actors and both of them are actors they are pretending to be american population that the fed is a regulator and somehow protecting them from the bankers the fed is a banker they are the private bankers they are jamie diamond jamie dimon is ben bernanke you there is no difference between them so he is lying there. and you know what wall street took this performance as bravo they gave it an oscar the next headline wall street loved jamie dimon speech yesterday the response is go jamie yes this is from business insider and one of the writer here says just yesterday we got a text from a friend at

a big bank who wrote the obama administration continues to beat up on the banks not a great way to get more lending to help with job growth all of the new capital requirements and regulatory uncertainty has everyone grasping onto their cash cash equivalents such a short dated treasuries capital requirements of course being called for cocaine requirements as we reported on the show many times and you also have a situation where it's basically abbott and costello between jamie diamond and ben bernanke you remember the famous who's on first routine between it and costello where it's like oh i know he's playing this game it and he says who's on first and he says i don't know who's on first because though what's on second i don't know who's a second who's up i've totally rival that region you can look it up on youtube but it's basically two comedians doing a puppet show for a very compliant corrupted in the mainstream media who reports on this stuff as if it's some meaningful but the response to the performance by wall street was bravo because they know that they are part of this want to be elite that is going to

defraud the population but let's look at this next headline a response to jamie diamond's performance in directly jim rogers long silver short g.p.m. so jim rogers was interviewed on c.n.n. b.b.c. and he says this approach in crisis that would be worse than two thousand and eight because there's been more debt more debt i remember jamie diamond to ben bernanke he was saying we can't really read capital requirements because we need to introduce more debt even more debt we have we're plenty fine now we're so stable but jim rogers is saying he's he sees something coming a worse than two thousand and eight and he's buying silver he's buying silver he's dying silver he says five times and rice to protect himself and when he's. here is asked in and c m b c how to fix it what should they do if you cut spending when a draconian measure that matter who should cut taxes and they should cut spending to the bone we cut troops in one hundred fifty countries around the world are not doing this in a good and making enemies that's costing us a fortune there are many many other things that we're wasting money on and that

should be stopped but still beautiful long jim silver laying it all out he also says that energy states are but that he's short one big american financial now over to zero heads are speculating that it's probably j.p. morgan i would concur the easiest way to make money for you hedge fund traders out there is to short j.p. morgan go along so you're going to make a bundle of cash and as soon as j.p. morgan stock price is below silver prices their balance sheet is it a whole world one in trouble so finally he says you know that the part of the problem with our u.s. economy and the global economy is too much war here's j.p. morgan executive tony blair tony blair says west needs wider plans for middle east former p.m.'s call for clearest approach comes with warning to dictators that they must change or be changed so he wants more wars in the middle east j.p. morgan executive tony blair. prince bandar's tony blair there are yeah i'd like to threaten you if the terrorist act most or give me more money there tony body. how

do you know that you want prince bandar because on the call to crack. my best version. all right thanks very much thanks so much for being on the kaiser report for the go away much more coming your way so stay right there.

but i'll go back to the kaiser report time now to go to washington state and speak with david morgan of silver and vester dot com david mark and welcome back to the kaiser a for a tribute to america right david morgan this is exciting stuff you've just returned from utah where you took part and and historic event tell us what you were doing there what's going on in utah the house bill three seventy one was passed into law signed by the go utah i was invited to participate in the ceremonial signing this is the first state in the several states of the u.s. to put it back in the log will you look at all interior bases to do transactions

and grew older so we're right so what us through this little bit here david margan in other words i've got a pocket full of solar bowling and i can walk into the store and i can buy a pair of shoes and give them some ability and has a work first of all the merchant that so and you shoot or whatever you want to purchase is gross so yes right you accept because he voluntarily does or does not so it's going to be quality very on both sides the wall is to restrict what silver and gold it would accept and for right now you know it's in the law you can only use silver eagles rule beagles so only courted that's minted by the federal government is accepted by this long. her time so that's sort of important so what it is going to take place is there is a depository. that's already set up that people can deposit their gold and silver equals into and be issued a debit card now makes the whole transaction process pretty transparent where

you're able to walk into a merchant and you know use it debit cards similar to any debit card and by whatever you're going to buy it it just takes the amount of the medicine the record out of your account so once this is implemented it should be soon from what i've been told at this meeting. really you know picture now david morgan on the political front air it sounds as if you've got a bit of a standoff developing between the states and the federal government because the federal government and the federal reserve bank are really not for this type of conversion out of fact r.c.m. to precious metal based currency is this part of the stand off are saying between the states and the federal government because it also applies to other political issues as well well so dad just said you i think when she is utah has the ability to stand up for states rights as outlined in the bill of rights there are certain powers now worse given to the federal government of very very limited basis

and the states actually have all power beyond those limited abilities of the total government total government has usurped all kinds of power really outside the purview of the constitution you trust so say wait a minute states' rights no state solve the issue anything but gold and silver for paying its debt that's the law were implemented were put into law and see what happens what they like to address max you probably get through anyway but. gresham's law you know the idea that we're wireless to nickel coin it's appreciating in value reverses the fiachra. this new. value because of that back you know how much trash will we get in this you know of this movie called utah yeah well that's a good question i've seen at race on the blogs and people are suggesting that well this is a way for the state think hat get people to get out of their precious metal positions

and to liquidate us precious metal possessions and it's a way for the the kind of the intention being the opposite of what we're suggesting here that there are some benefits and part of the transom live away from fast currency but i would imagine the answer to this would be that you need to start the circulation of precious metals trend somewhere and once it hits a certain critical mass then it takes on a life of its own and people than the benefits of having a non of having a currency that's not being the purchasing power is not being whittled away from inflation over overcomes that the perceived shortcomings of the fact that your ear swapping out a fee out for precious in the very short term you know you litter both sides quarterly is the pre-rock it's going to make if you're going to shift so there's somebody out there or outs that got sober to it sooner if you get momentarily so you know i want to spend it and you do. an example the other examples of gresham's

law to stream now would be would you do a serious price quoted out of his earlier article he said it's just the idea that you can now start saving in gold silver maybe you will start saving now to spend very little but at least brings the old weird's of sound money to the poor for a lot of people who haven't thought of it before plus you've got to look at the market maybe a lot of routes will get a discount if you. were all whereas if you were you are you know it's a different price so i mean there's lots of ways you can see it actually get a little longer from there right that's a good point in other words that the merchant is very interested in it and. getting their hold of this appreciating asset the suppression and currency so they might be willing to offer a discount which would give further incentive and in the play make in terms of savings is a very key point savings is something that is the inverse of what most people in america have come to understand to be their daily management of their finances

which has been dominated by consumption and debt so here you have a the op the opposite of this which would be savings and watching our savings appreciate in value so let's say that in the state of utah and in a few states around the country and maybe one or two countries around the world they say we're going to go to a silva or a standard for prefer commerce what does this do to the applause of ground value of the above ground stock of silver of what's depending on who you talk to is let's say between eight hundred million and a billion ounces does it increase the demand and if so how does it affect the puck what happens there on the on the dynamics of supply and demand it will pollute gree price pressure on civil war and i believe you know it's already here if you will no rush much more on it because if you. and you look at you know what average wage for the average person wants back in the late b.g. nine hundred euro two hundred dollar a day and a prosecution of dollars an ounce today's us super eagles one ounce i know that

constitutional dollars backcourt so six announcer roughly three quarters of americans two quarters secluded a dollar per day was a pretty good. so to speak you ought we're all down to be one hundred dollars per ounce and we're not there yet and i believe we're going to get their house that once the values determined and we have it in my strong opinion to remove the true value of silver yet you see lots and lots of local pressure that's why this question was kind of important think about because you know people once loot. pronouncer turnouts were the use of the marketplace where you probably see a lot more transactions to close and broken smells truly strong it gets undervalued instances to suit her let's talk about gresham's law for a second because it's something that bill black former regulator and yes our crisis

in the us speaks about often as well as being one of those. if you will behave you're all economic aspects that drives markets and finance underneath the underneath the surface a lot of it tells us you know explain gresham's law how it applies here what what is the law gresham's law it's commonly stated i admire you grow so. accurately stude. exchange rate and so while a lot well regardless what it really means is that if you've got rule it's over. people make sure it's the tourists will use it all spin the few yards. and hold on to the gold and silver so there's a good argument. you know you want to snap in utah because there will be a lot of incentive for people who sort of prime minister is almost as if you could apply the same concept that here's a fractional reserve banking system the velocity of money concept which is

a say their loans become more plentiful they more that they are recycled through the banking system you could say apply this to sauber and say there's a velocity of silver concept here is that the more it's use the greater demand there is for the silver and therefore the price goes higher so actually by spending your silver here increasing the price of the savings that you have left in your silver savings account but let's move on to our supply demand here for a second. the c.p.m. group what's the most bullish data in the report that's just come out and the most bearish i know you track this stuff pretty clear closely over there at the morgan report one of the more bullish aspects of china. the amount of demand from china and its question for where isn't best known to man in china but particularly the industrial demand it's really never thought of thoroughly you go back to the silver institute's. two thousand issue at the amount of story use on a per capita basis in china was once said to be the amount of silver used in the

western hemisphere so united states and canada for example now it's about one twentieth so it's been about or we're told increase in the amount of silver used so flows laptops. going electrical in china as they build in modernize their whole infrastructure that trend continues and it continues strongly so right now it's about one twentieth the amount of silver creek out of which they were using us you know several years ago and then again a trend continues so if you look at what's going on in the solar energy feel a lot of solar energy produced in china in just industrial site in china it's huge on top of that we have gold and silver availability for investment in china as well probably doesn't take much imagination of think about one point four billion people in china certainly not every one of them is where the price over unless they catch

on to the mass keyser you don't buy a house situation. seriously there's a lot of pent up demand available in china and of course other places as well i said that would be one of the most bullish names under very side what's interesting . is that the recycling as started to increase and as i thought about it more and more it's it's very likely because there are more electronics some of them can be recycled some of them are an economic to recycle but they're mandated by governments to be recycled for example in california some of the circuit boards that are not economically recycle. still the last states that it must be so you've got a loss economically government stuck incidents were mostly recycled so the idea is that the car going to you know very low level silver how like you can replace by digital recycling would be a major general trend and it didn't for

a few years but now a story to back up slightly bearish that's not the most bearish. all right well that's all the time we have for on this episode david margan of the market report thanks as always for your contributions on the solver side of things and i would just say the other trend and the bullish trend is still intact is that your basic bottom line absolutely max you see my lecture there are no i do not also in france i'm extremely bullish and see my chair year projections certainly do prices so right now anything goes up and down but we're far far far away from the supermarket and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert and i thank my guests david morgan of the margaret court if want to send me an e-mail place to sell at kaiser report at r t t v are you it's a life time to sit back scatter say buy a. mission

. could you take three months for chargers three. months three. three. three. three book us closer to the deal for your media projects. done to our tetons time.