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pushing on the. skies are this is the kaiser report the eco eco disaster the ecological disaster the economic disaster it's all tied together here at the end of 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'm a new phrase for you it's melt through and 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 they had the stimulus and you also had the bailouts and then you had a balance which was call the recovery but now even according to time magazine there was no recovery there it was the beginning of what you're saying now a melt through you well were you 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 molten 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 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 one second on the financial meltdown of course i commute much of the top go tokyo electric power company they bought off the regulators this is what happens when you have private companies do something and the government should be doing and end up with this huge catastrophe and wealth through and of course they're totally silent about and so is the media so too in the financial severe you have a complete meltdown in 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 the

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 kentucky and a revolution is ignited well it calls it 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 talked about the social contract and when the social. tractor's broken it's imperative that the people revolt and seek a regime change i mean talking about this mel 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 and 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 a disgusting display of toxic financial melt through and they don't do jack shit about it so the melt through in 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 meltdown 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 elites won't even think of it so it's so massive full of bail 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 federal deposit insurance corporation f.d.i.c the ground war that was laid for the boom that is the american century created by franklin delano roosevelt as a reaction to the banks or in the one nine hundred twenty s. position limits on commodity futures another containments marginal. it's commodity futures another containment and all of these things because the futures modernization act being screw 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 a puppy federal research firm to and this is from newsweek mad as hell that anger that fueled the arab spring is now boiling over in europe could club wielding protesters in america's future to 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 to when it comes to america it'll take the form of mass street what they call strategic default on all the under row 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 of 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 organizes on facebook a ten million strong simultaneously simultaneous mortgage to. fault but in the meantime we still have this coming financial melt through happening max and how it happened in tesco 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 use 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've already done most of it our cars are gone they were through all the mortgage brokers and obviously some banks unequivocally jamie diamond is lying through his teeth 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 diamond 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 and 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 and 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 the american population that the fed is a regulator and is somehow protecting them from the bankers the fed is a banker they are the private bankers they are jamie diamond cheney diamond is then bernanke you there is no difference between them so he is lying there and you know what wall street took this. formants 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 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 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 code 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 abbott and costello where it's like oh i know he's playing this game it and he says who's on first as 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 mangled that region you can look it up on you tube 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 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.m.t. c. and he says there's certain approaching crisis that would be worse than two thousand and eight because there's been more debt more debt remember jamie dimon to ben bernanke he was saying we can't really raise 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 a something coming a worse than two thousand and eight and he's buying silver he's buying silver he's buying silver he says five times and rice to protect himself and when he's here asked in in c. and b. c. how to pick. what should they do they should cut spending when they're draconian measures 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 the good at 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 good old long jim silver laying it all he also says in

an interview states there are any short one big american financial numbered 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 just below silver prices their balance sheet is it will 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. bandar's tony blair they're like to threaten you with a terrorist act most are giving more money they're tony bloody oh how do you know that you want prince bandar because our culture cracked. my best british accent all

right thanks so much for being on the kaiser report thanks for the go i much more coming your way so stay right there.

welcome back to the kaiser reports i'm now to go to washington state and speak with david morgan of silver and vester dot com david mark and welcome back to the kaiserin for a tribute if you max right david morgan as exciting stuff you've just returned from utah where he took part 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 governor of utah i was invited to participate in the ceremonial signing this is the first state in the simple states of the u.s. to put back in the law biljana voluntary basis to do transactions in gold or silver right sell what us through this little bit here david margan in other words i've got a pocket full of soul or a bully and i can walk into the store and i can buy a pair of shoes and give them seller biljana as

a work first of all the merchant that sell a new shoes or whatever you want to purchase is gross yes right you accept so or because he voluntarily does or does not so it's going to be voluntary on both sides the law is very strict to what silver and gold it would accept and for right now bill it's passed into law you can only use silver eagles were gold eagles so only cornett bets minted by the federal government is excepted why this law to current time so sort of important so what is going to take place is there is a depository. that is already set up that people can deposit their gold silver equals into and be issued a debit card now makes the whole transaction process pretty transparent where you're able to walk into that merchant and you know using debit cards similar to the card and buy whatever you buy and it just takes the amount to procure medicine

the record out of your care. so was this is implemented it should be soon from what i've been told at this meeting. really you know picher now david morgan on the political front here it sounds as if you've got a bit of a standoff developing between the states and the federal government because the federal government you know and the federal reserve bank are really not for this type of conversion out of fee at r.c.m. to precious metal based currency is this part of the stand off or same between the states in the federal government because it also applies to other political issues as well we're also matches i do i think group c. is utah as the standard for states rights as outlined in the bill of rights there are certain powers the worse you into the total government of very very limited basins and the states actually have all the power beyond those limited abilities of the total government of course total government has usurped all cards of power

really are subject to review the constitution you trust so say wait a minute speech rights no state cell issue anything with rule in silver for paying its debt that's the law were implemented through prudent the law as you would have but it's one thing i like to address next you probably get through. gresham's law you know the idea that we're wireless to nickel coin it's value worse is the theocracy this new creation value because of that fact you know how much traction we get in this you know this movement were called utah yeah well that's a good question and that's seen it raised on the blogs and people are suggesting that well this is a way for the state to hat get people to get out of their precious metal positions and to liquidate as precious metal possessions and as a way for the kind of the intention being the opposite of what we're suggesting here that there are some benefits as part of a trend to move away from fast currency. but i would imagine the answer to this

would be that you need to start the circulation of precious metals transit somewhere and what's in it a certain critical mass and 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 to perceived shortcomings of the fact that you're swapping out a fee out for precious in the very short term you know you lose both sides what really is the pre-work it's going to make your commission so there's somebody out there perhaps that walks over to it sooner you got moments here earlier so you know i want to spend it and you does it an example the other examples listed christians lost to st and that would be a serious price quoted out of his early articles 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 at least brings the all weird us 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 routines will be big discounts if you were ruled whereas if you're if you know you know it's different price or i mean there's lots of ways you can see it actually get a foothold and move on 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 that's appreciating currency so that 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 cell for a standard for commerce what does this do to the above ground value of the above ground stock of silver of waste a penny on who you talk to as let's say between eight hundred million and a billion ounces does it increase the demand and if so how does it affect the probably what happens there on the on the dynamics of supply and demand we put great price pressure on it so we're and i believe you know it's already there if you will go it would put much much more on it because you can it is true and you look at you know what the average wage for the average person was back in the late between one hundred euro created a dollar a day and constitutional dollars and you get it helps today's u.s. super eagles one ounce i know that the constitutional dollars well quite soon six amounts are roughly three quarters of an ounce two point is simply going to dollar per day was a pretty good one tried so into d.c.

we're told that right be one hundred dollars less per ounce and we're not there yet and i believe we're going to get there past that once the real value term and we haven't been my strong opinion you term the true value of silver yet you see lots and lots more pressure that's why this question it was kind of important to think about because you know people were asleep beulah with their value for an ounce or two now it's a really good use of the market place there you go see a lot more transactions take a close approach is metals where they believe strongly gets under value the tendency is to say well let's talk about precedent law for a second because it's something that bill black a former regulator an e.s.l. crisis in the u.s. speaks about often as well as being one of those. if you will behave your all economic aspects that drives markets and finance underneath underneath the surface

. about tells you know explain gresham's law how to apply sarah what's what is the law gresham's law is commonly stated at yad money growth so it's more accurately stude. picks change regimes by law but regardless what it really means is that if you got sober reshooting and. people were making a choice of the tourists usually is that all stand for yards. storage and hold on to gold and silver so there's other good arguments and you know so you know you have this anatomy in utah where there will be a lot of incentive for people to spend it all so primus searle's almost as if you could apply the same concept that is in a fractional reserve banking system the velocity of money concept which is a say that loans become more plentiful they more that they are recycled through the banking system he could say apply this to solve or and say there's a velocity of summer a concept there is a time or it's used to greater demand there is for the seller 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 he's china the amount of the man from china underscores too for where is investment demand china but particularly the industrial demand it's really never a part of the really you left the silver institute's. two thousand issue and the amount of story use on a per capita basis in china was from so to be the amount of silver used in the western hemisphere so you know states in canada for example now it's about one twenty it says made about her four fold increase in the zero. the reviews so

close laptops anything electrical in china's they build in modernize their whole infrastructure that trend continues and it continues stronger so right now it's about one twentieth the amount of silver per capita that they were using us you know so years ago and then again the trend continues so if you look at what's going on in the solar energy feel a lot of solar energy produced in china and india just when does fuel side in china is huge on top of that you have gold and silver availability for investment in china as well probably doesn't take much imagination of about one point four billion people in china certainly not every one of them is with a price over less force in cash on simply mass keyser you know why announce situations. seriously there's a lot of pent up demand available in china and of course other places as well i think that would be one of the most bullish things under various side what's

interesting one way is that the recycling has 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 on economic to recycle but they're mandated by governments to be recycled for example in california some of the circuit boards that are not economic can be cycled still the last states that must be so you have a loss economically government to step in so that it's over must be recycled so the idea is that the car going to you know very low level so we're now at the top be in place by digital and recycling would be a major downtrend and has been for a few years but now starting to come back to us and say that's likely bearish that's not the most bearish they have a primer to report all right well that's all. all the time we have for on this

episode david morgan of the mortgage report thanks as always for your contributions on the sober side of things and i would just say the other trend and the goal is trying to still intact is that your basic bottom line absolutely merits you see my lecture. also in france i'm extremely bullish and seem right to your projections the process goes up and down for. supermarkets and that's going to do it for this edition of the kaiser report with me max keiser and stacy herbert our effect my guest david morgan of the mortgage report if you want to send me an e-mail please this at kaiser report at r t t v are you it's a lifetime to sit back guys or say buy off.