china operations are the day. they faced it this is not a provocation but warns of. the forces of the shittiest steverson he is sure to suppress the tree speak so they have no idea about the hardships to face. one it is this is it is all of them too nice to. bring the army to life level using them is the most precious thing in the world. is of self-sacrifice and heroism with those who understand it fully but you have to live a. real life stories from world war two. to three thousand nine hundred forty five gold teeth dot com. the issue is that so much of the chance to leave maybe once a year and a real treat this is being described as one of the worst meetings we've ever had is

the organization of petroleum exporting countries are encouraging prices if it is does a real. this is on c koreans who live from moscow the headline. people in the libyan capital tripoli remain defiant in the face of the almost daily nato airstrikes and fuel shortages that the paralyzing life of the city this comes amid fears fighting in the country as rebels step up their votes against oil ports along the mediterranean coast. you ask pearse's ahead with plans to build a base in the persian gulf the top militants and get in the cia has been tasked with launching that times described a use of the unmanned aircraft being blamed for the deaths of hundreds of civilians in afghanistan and pakistan. and in egypt details about around seven thousand

people arrested in the country since president mubarak was toppled the interim military leadership promises to review trials of civilians and to increase the power of civilian courts but you know why it's groups claim there's evidence of prisoners have been tortured. and japan is the focus of because a report next where moxon stacey compared the meltdown at the fukushima nuclear plant to what's happening to the world market. i am i skies are this is the kaiser report the eco ego disaster the ecological disaster the economic disaster it's all tied together here at the end of time as we know it stays here 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 and i think this is what we have actually been experiencing is economic melt through well i think i'll 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 had the bailouts and then you had a bounce which was called 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 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 melt through a more serious scenario than core melt down now let's go to the economic melt through or so. being in the rest of the world we need an evil plan to foil our own leaders one second on the financial meltdown and for a second you mentioned the top go tokyo electric power company they bought off the regulators this is what happens when you let private companies do something that the government should be doing and up with this huge catastrophe and well through and of course they're totally silent about it and so is the media so too in the financials fear you had

a complete meltdown in two thousand and eight when hank paulson went to congress to get two hundred seven hundred fifty billion dollars but because the regulators on wall street are owned by wall street similarly you had an economic meltdown which is happening 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 nine hundred ninety eight now they have twenty three point five percent he says the elite are violating the sacred compact between that higher authority the leader and his people they possess their right to rule as didn't bark aside and khadafi and a revolution is ignited well it calls that the elite contract there's another word for it going back a couple hundred years it's called a social contract as iterated by thinkers of the enlightenment and of course

famously rousseau 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 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 you know it's starts to drip through the spacecraft like yours lloyd blankfein is like. financial system right. 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. i mean. and it's a disgusting display of toxic financial melt through and they don't do jack 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 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 b. feral says that you need to have a plan he says an evil plan and evil plan to him is something that the elite won't even think of it so it's so masterful and 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 glass to go of course put in place at the crash of twenty nine when the creation of the f.c.c. and 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 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 that 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 blank lines in the jamie diamonds so we're going to look at one little other headline that this is also a public. carol research firm two and this is from newsweek mad as hell the anger that fueled 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 dimon 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 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 ro 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 default but in the meantime we still have this coming financial melt through happening max and how it happened in tepco 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 in 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. stress test 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 we've already been done and a few things are going to be done so we've already done most of it actors 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 their 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 want to bitch slap 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 a bailout greece ok how does that happen through the global banking system which ben bernanke answers to which jamie dimon is a mere middling management sub one 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 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 for 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 climbers 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 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's and he says who's on first he says i don't know who's on first because though what's on second i don't know who's

on second who's up i've totally mangled that routine 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 bag mainstream media who reports on this stuff as if it's somehow 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 this approach in 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 raise capital requirements because we need to introduce more debt even more debt we have we are 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 buying silver he says five times and rice to protect himself and when he's here is

asked in in c. and b. c. how to fix it what should they do they should cut spending whether 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 they're not doing this in the good they're 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 going to hold long jim silver laying and although he also says that interview states are worth any short one big american fine. actual numbered zero heads are speculating that it's probably j.p. morgan i would concur the easiest way can 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 the soon as j.p. morgan stock price gets below silver prize their balance sheet is a whole world one of 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 and the prince bandar's tony blair they're up yeah i'd like to thrive in the us the terrorist act most are give me more money there tony buddy oh i'll give you all the money you want prince bandar because i'm a cook to crack. that's my best british accent all right stay there and thanks so much for being on the kaiser report hey doug oh a much more coming your way stay right there. one stream cascading from mom slopes the view is miss provides. the earth but this beauty brings death at a speed of more than two hundred kilometers per. step not

a launch. hungry for the full story we've got it first the biggest issues get a human voice face to face with the news makers. welcome back to the kaiser report time now to go to washington state and speak with david morgan of silver and vaster dot com david mark and welcome back to the kaiserin for a true if you max right david morgan this is exciting stuff you've just returned from utah where he took part in and historic event tell us what you were doing there what's going on in utah the house bill three seventy one what's 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 several states of the us to quit back in the law voluntary basis to do transactions in gold or silver right so

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 some or bullion as a work first of all the merchant goods selling you the shoes or whatever you want to purchase is gross say yes right you accept because he voluntarily does or does not so it's going to be voluntary on both sides. the law is very strict of what silver and gold it would accept and for right now the bill that's passed in the law you can only use silver eagles or gold eagles so only cornett that's minted by the federal government is accepted by this law at the current time so that's 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 eagles 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 use a debit cards similar to any debit card and buy whatever you're going to buy and it just takes the amount of appropriate 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 i think it could really you know kitchell 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 you know and the federal reserve bank are really not for this type of conversion out of fact r.c. into precious metal based consing is this is 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 said matches i do i think what you see is utah as the ability to stand up for states rights as outlined in the bill of rights there are certain powers that were given to the federal government of very very limited

basis and the states actually have all the power beyond those limited abilities of the total government mccrystal government is you sir all kinds of power really outside the purview of the constitution you trust so say wait a minute states rights no state cell issue anything but gold and silver for paying into debt that's the law we're implementing it. well put it into law see what happens what they're like to dress max you probably get to it anyway but. gresham's law you know the idea that well why would i spend it gold coin it's appreciating in value versus the few ya currency that's the. value because of that fact you know how much traction will we get in this you know this movement mark colvin utah yeah well that's a good question and i've 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 those precious metal possessions and it's a way for the kind of the intention being the opposite of what we're suggesting here that there are some benefits and part of a transfer 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 tranda 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 you're swapping out a fee out for precious in a very short term you know you lose both sides were really is the free market is going to make the future an issue for somebody out there perhaps that walks over to and it's sitting there fifty momentarily or so you know i want to spend it and you do does it as an example the other examples the state gresham's law can be extreme

and that would be would you do a serious price quoted out more of his early articles he says it's just the idea that you can now start saving in gold and silver maybe people will start saving your net spend very little but at least it brings the awareness of sound money to the forefront a lot of people who haven't thought of it before plus you've got to look at the free market maybe a lot of routes will give you a discount. if you were gold whereas if you're if you're you know it's a different price so i mean there's lots of ways that you can see it actually you know get a foothold and move along from there right that's a good point in other words that the merchant is very interested in and getting their hold of this appreciating asset the suppression in 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 silver standard for prayer for commerce what does this do to the above ground value of the above ground stock of silver of what's depending 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 pie what happens there on the on the dynamics of supply and demand it would put great price pressure on silver and i believe you know it's already there as you well know but put much much more on it because if you can is three and you look at you know what the average wage for the average person wants back in the late eighteen hundred you're looking at a dollar a day and

a constitutional dollars and you can house today's u.s. super eagles one ounce i know that the constitutional dollars of awkward seven six amounts are roughly three quarters of america the point is simply going to a dollar per day was a pretty good one trying so introduce beyond world doubt right to be one hundred dollars less per ounce and we're not there yet and i believe we're going to get their babies. past that once the real values determined and we haven't been my strong opinion in term of the true value of silver yet you see lots and lots of pressure that's why this question is was kind of important think about because you know people once they feel that they're getting their value for an ounce or turnouts or whatever they determine to use of the marketplace there you probably see a lot more transactions take place and she's metals but if you believe strongly that it's undervalued then since it's course to suit well let's talk about gresham's law for a second because it's something that bill black former regulator during the s.

and l. crisis in the u.s. speaks about often as well as being one of those. if you will behave your old economic aspect that drives markets and finance underneath underneath the surface a lot of it tells you know explain gresham's law how it applies here what's the what is the law gresham's law is commonly stated that bad money growth so it's more accurately stude it drives a good exchange rate by law but regardless what it really means is that if you've got gold silver krishi dating and. people will make a choice in the choice new jewelry is that all stand up for yachts. do you start and hold on to the gold and silver so there's a good argument to be made that you know you want to snap in utah there won't be a lot of incentive for people to spend it all so it sounds almost as if you can apply the same concept that is in the 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 you could say apply this to solver and say there's a velocity of summer concept here is that the more it's used a greater demand there is for the seller and therefore the price goes higher so actually by spending yourself or you're increasing the price of the savings that you have left in your silver savings account but let's move on to a supply. the man here for a second. the c.p.m. grip what's the most bullish data in the report that's just come out and the must be bearish i know you track this stuff pretty clear closely over there at the morgan report one of the more bullish aspects is china the amount of demand from china underscores to fall there is investment demand in china but particularly the industrial demand it's really never a thought of the really if you go back to the silver institute's. two thousand issue and the amount of storage 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 our four for old increase in the amount of silver used so flows laptops anything electrical in china as they build in modernize their whole infrastructure that trend continues and it continues stronger so right now he's about one twentieth the amount of silver prick out or that they were using you know so many 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 salute energy produced in china in jest industrial side in china is huge on top of that you have gold and silver availability or investment in china as well well it doesn't take much imagination to think about one point four billion people in china certainly not everyone of them is going to buy sober unless there's

a catch on to the mass keyser you know why and how nz situation. seriously there's a lot of pent up demand available in china and of course other places as well i see that would be one of the most bullish things on the various side what's interesting in may 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 only a good nominee to recycle but they're mandated by governments to be recycled for example in california some of the circuit boards that are not economical to recycle still the last states that it must be so you're at a loss economically the government is stuck in subsists over must be recycled so who do you idea is that car free going to you know very low level so we're allowed

to be in your place by digital recycling would be a major down trend and it has been for a few years but now starting to come back up since you have a slightly bearish that's not the most bearish they could find to report all right well that's all the time we have for on this. david margan of the market report thanks as always for your contributions on the silver side of things and i would just say they are the trend and the bull is trying to still intact is that their basic bottom line absolutely mad if you see my lecture there are no london also in france i'm extremely bullish it seems might change your projections certainly the price of silver like anything goes up and down but we're far far far away from the ultimate top in the solar market 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 guest david morgan of the market i part it want to send me an e-mail placed us at kaiser report at r t t v are you until next time this is max keiser saying bio.