well one that has a record press j.p. morgan by summer class trip the morgan by sober it's been two years since the first dedicated episode of crash more. max keiser that is true it's crash j.p. morgan by silver that's the famous image that went viral around the world we started that two years ago max why crash j.p. morgan myself or because it was the ability to hit them where they are vulnerable that's the point is to kick them in the teeth just like the death star remember they had a vulnerability luke skywalker flying in hit film boom that's what we're doing so in reserve vulnerability you take it off the market they chromo like a cheap suit and the other point being is twofold first the last episode we talked about the fact that there is this real world that you and i have to live in and then there's the over the counter derivatives dark pools and black pools and all sorts of stuff that they get to operate and and control the prices manipulate the

prices up down whatever way they want whichever way will be most beneficial to them and this was a way to hit them where they were vulnerable in their massive short position in the derivatives market on silver and by withdrawing the physical silver which we knew to be unlimited supply you could upset this this whole facade around us of the rigging of markets making us the people vulnerable to the their shenanigans oh look they're playing a bad game of chess and let me explain a very inexperienced chess player will do everything to keep their queen intact including lose and here with j.p. morgan there queen is a massive silver short position that they use to manipulate prices of money hire and of course the queen in this case also refers to blith masters who in london is responsible for massive fraud and they keep the price of film artificially but as a result they're losing the london whale and let in the u.k. the result of protecting their queen of their mad. some silver short position there

of involvement in massive been raiding money laundering drug smuggling that's also an attempt to protect their queen of the massive silver shore position and of course are going to lose this game of course we can't talk about crash by silver without the numbers of how large their short position is and this is was crucial to the launch of this campaign was rob kirby from kirby analytics who's also with gatorade the gold antitrust action committee and i think maybe we should go talk to him yeah good. rob kirby it's two year anniversary of the crash if a market by silver campaign tells what are the latest numbers for j.p. morgan silver short position and how does that compare to two years ago when the campaign started. let's just look at the numbers today the category that captures j.p. morgan silver short measures three to five billion dollars us two years ago the same category was measuring four billion us so wrong purpose j.p.

morgan concentrated short position and silver has doubled in the last two years here they are twice as vulnerable as they were two years ago now the price of silver is up thirty percent since the launch of the campaign but they have had to double the size of their short position in order to keep the price they're now in warfare a large part of winning the war is psychological and they have indeed pushed back the silver liberation army for a while because people are disheartened that the price has not gone up and they just focus on the price rather than the reality of the metrics who's losing ground and if they're doubling their silver position you know it's they who are vulnerable but it's a perfect illustration of what we're talking about several liberation army started on the show two years ago because we're running the world that we're running.

global markets are running the goalless over market thanks to me countries around the world of increase their gold reserves substantially the thirty percent rise in silver of thanks to you for taking it off the market has resulted in the doubling the liability doubling their liability now going forward this year will bring the price of silver up one hundred percent let's go from the low thirty's to the low sixty's that would mean morgan would have to increase our liability exponentially from there which means i got the lead on the fed again which means they got to print more dollars again which means that the wicked witch of the u.s. dollar the the currency that is the devil's current seeing is a blunder right out of existence this is a cost to keep the devil out of the universe the u.s. dollar is the devil's currency we do by physical take it off the market and you're right of satan and as we like every day max ok jamie dimon j.p. morgan is twice as vulnerable to the silver shore as they were two years ago when

we launched this campaign now as i said it was psychological but on part of the warriors of the s.l.a. as well were amber you had that campaign as well somebody took out this billboard in times square five hundred dollars silver if you want to that's right it was john lennon put up a billboard in times square five hundred dollars over it if you want it thank you sean so now we guarding this five hundred dollar silver price i think i want to ask rob kirby now we're all what do you think about this can we take silver to five hundred dollars we're skating we're skating on really say tonight one of these days the ice is just going to break and we're not going to just fall into cold water we're going to fall into a blog and was pissed and you see we can achieve five hundred dollars silver stream a short period of time if. but in the meantime we're still skating on thin ice when you see the ice going to break you know the further away from sure you get you know the. the bigger the likelihood is you're going to go through thin ice yes it won't

rob kirby makes a good point you know here's an example take a bungee cord and attach it to a cement block and pull it up an incline of approximately forty five degrees where you notice is that you pull on the bungee cord pull the bungee cord pulled the bungee cord and then wham oh slam oh the block suddenly moves not incremental little gain but up. oh oh oh the presence of a ghost of sixty seventy eighty owner dollars an ounce. the presence of argos two hundred three and four hundred five hundred dollars an ounce who's pulling on the bungee cord well i know that's a very interesting image i just presented to you in t.v. land but don't read too much into it think of it like this the central banks are simply pulling on the bungee cord pulling out all of the bungee cords by printing massive amounts of money to support the bond market and keep the price of gold and silver artificially straight that brought down the price skyrockets if you're not

positioned ahead of time you know to look direct. and by the way we're wearing these gold eltham here because we're talking to james turk of gold money in the second half but also i did notice looking through the shops if say for a silver top that there is a ratio fifty three to one gold tops to silver tops and kind of where is what's going on in the silver and gold markets right now which usually the ratio is sixteen to one right now fifty three to one and that's something else that rob kirby says this is a vulnerability to the silver price you know it's going to go up don't only a silver and gold become scarce but so are these jackets baker and so up with a jacket like this call now supplies are going fast so this crash j.p. morgan by silver did ignite a generation silver bud goes viral with marketing war max keiser. has become

a fringe media star thanks to the web excuse a round through its friends about four hundred fifty million viewers worldwide that's not french maybe that's. so they talk about your campaign to crash a p. morgan by silver it's gone viral they say thanks to his effective viral campaigning his youtube clips have been viewed hundreds of thousands of times just got a poll but in a following who knew preaching silver it seems can make you a mini media star so i want to look at some of the again i take exception with the word many ok we're talking about four hundred fifty million viewers millions of hotel rooms and airport lounges around the world you know you are waiting for a flight right now watching the show because you are nothing better to do well let's look at some of the viral videos that he refers to this is a video crash j.p. morgan by silver max kaiser versus jamie diamond from tofu mary two has over eighty two thousand views max and the synopsis reis as such jamie dimon played by hitler learned said j.p. morgan is bankrupt due to the success of max keiser crash morgan by silver campaign

no more silver no more hookers all is lost this scene is from the german movie downfall. much you'll. find i'm going to give you kind of design i suppose you can understand the forge. right and we know the ending hitler in this case jamie diamond takes on a loser and brains out of. every story it's a happy hollywood ending. so you know you came up with the slogan crash j.p. morgan by silver and i want to look back in history because actually these sort of slogans have actually achieved major major success and that was stop the duke go for gold and john butler of m four capital who we recently interviewed on keiser report he's the one who first in lighting dust to this movement this was a campaign started by the middle class of britain prior to the eight hundred thirty two reform. act which saw basically the house of commons reforms more

representation given to the new industrial cities and less given to the what do they call them the rotten boroughs who were very few but the rich live i mean brooklyn. so however it took three goes to get this reform act in there were protests all sorts of occupations things happening but no change happened until some protesters advocated nonpayment of taxes and urged a run on the banks saying stop the duke go for gold one point five million pounds with was withdrawn from the bank of england and right away max this reform act was introduced finally the duke of wellington stood up introduce this bill and it passed that's right the people's run on the bank and work historically shows that it works people say that this can't work don't know they're talking about don't know history and are turncoats and tyrants working for the other side so we have crashed people working by silver stop the duke go for gold and for the last year

and a half or so we've had occupy wall street there is no other objective to it that they've said that we do strike the occupy wall street movement finally figured out the second half of the purpose for being on the surf and that is to retire debt from the folks that are imposing debt on people's bail out the vulture capitalists that's right the people's bail up they've got the people who are retiring the debt so it's tried to detonate the campaign or the people's bailout or the rolling jubilee so it's occupy wall street right now know that all they have the second half of their rallying cry now there's no stopping the occupy movement and then finally on silver this is bad news for jamie dimon bad news for bligh masters bad news for j.p. morgan which has doubled its short position in silver to eighteen point five billion that's not counting their naked shorts by the way silver price increase four hundred percent. in three years this is from the telegraph and they point out

that the silver bull run will continue says investment specialist in williams of chargers treasury silver is about to enter a sustained bull market that will take the price from the current level of thirty two dollars an ounce to one hundred sixty five dollars an ounce and we expect this price to be hit at the end of october twenty fifth teen that's right summer's about to enter a bull market phase the movement right currently from five dollars to thirty two dollars us just a warm up just a little warm up act a little a little a little more baby for the main course the main bull market action to five hundred dollars of those days are over thanks so much for being on because retort thank you max and kras j.p. morgan over satan for the second half of the show we'll be talking to the one the only james turk.

lead.

live live . resistance is not a politics but a culture. this could be. cultures of resistance.

welcome back to the kaiser report i max kaiser a special treat for a special episode time out of stock to the first person i ever interviewed as a financial news reporter james turk of gold money dot com james welcome to the kaiser report thank you max great to see you in person good to see you too all right james when we first talked to you going back a few years gold was at six hundred dollars an ounce very few people were talking about gold because my fact is remember it was like a. shining gold established seven hundred dollars an ounce a whole lot more people are talking about gold tell us about the psychology of what's going on in that brief history yet people are starting to understand gold better than they were you know five six years ago when we spoke for the first time and you know this is a process that's what a bull market is all about it goes through three three stages the first stage is apathy nobody's paying attention even though gold is good value the second stage happened when we went over a thousand dollars and now it's more people are starting to pay attention to go

pressure continues to rise the third stage which is the speculative stage are still years in the future now starting in two thousand and nine james huge shift in the market central banks went from being that sellers adults and that buyers of gold mexico improving their gold position enormously korea and norma's like so central banks sovereigns are buying gold at the same time a lot of repatriation of gold germany looking to repaint. called and a lot of people asking is there gold really there so now there's a scramble at the highest levels what's your take yeah you know i think it's understandable you know where we are in this again this process of a bull market people understand that gold is a valuable asset particularly from a central bank level it's a reserve asset you know years ago when we were on the gold standard it made sense to store a country's gold at different locations around the world because they used cool to actually complete payments in international trade but that stopped in one thousand nine hundred seventy one so there's no need to store a country schooled in different locations around the world gold now acts as a reserve protection in case of currency collapse

a rainy day or whatever and in order to control it you have to have it in your own country let me stop you right back to that's an interesting point you're saying that the gold standard classical gold standard even the gold exchange standard yes oldest child in various banks and as trade deficits. gold would switch around in the back room to square the accounts and that's how it was used but now we have potentially currency crisis and it's not about gold standards about countries scared to death that their currency is about to collapse as we've seen now in a few countries so if you don't have any or contrary you're out of luck yes exactly you know owning gold is one of the pillars of a country's sovereignty and to control it you actually have to have it in your own wallet so it's not too surprising that the germans are starting to look to repeat you go back to germany given the uncertainty in the problems that we see with the euro all right now of course gold's wacky cousins silver and i say wacky cousin because not to impinge the integrity of silver but because it is volatile the trade

and the percentage moves are a lot greater than gold and so this is a it's a wild ride now the ratio of gold to only fifty three to one tell us about what that ratio is and is that kind of out of line with history. you know owning gold is like flying in the seven forty seven owning silver is like flying in an f. sixteen that's the difference but they're both going in the same direction and they're both ultimately going to have a lie. higher so it's a question of which one you want to play or ride in order to get to that final conclusion but this ratio sixty fifty three to one at present it's an indication that silver is cheap relative to gold and again this goes back to the point that there are different stages in a bull market silver still in stage one it won't get into stage two until it goes over fifty dollars an ounce and then people are going to start understanding silver better and basically silver is a substitute for gold fifty three ounces of silver does the same thing that one ounce of gold does for you it gives you money that's outside the banking system because you money without any counter party risk now historically that ratio is

sixteen to one so over time i think that ratio is going to move from the fifty's down to the thirty's and eventually below twenty probably reaching sixteen to ones like a statement away and giving your thoughts when it first are talking about gold gold as a six hundred dollars an ounce it began its multi-phase ball market if i buy silver today in the low thirty's is it kind of like buying gold at six hundred feet juxtaposed where they are in their cycles yeah exactly right in the same principle applies to silver that applies to gold you want to buy it when it's undervalued and then ultimately at some point in time in the future you'll want to you know move into other assets that are undervalued and use the overvalued silver but you know that's still years years down the road this is a major bull market just like it was in the sixty's in the seventy's we've got a long time to go all right i want to talk some history here very very interesting getting back to the german gold story you know during the time when gordon brown here in the u.k. sold three hundred tons of the sovereign gold leaving him with just over three

hundred tons left and puts britain in a very vulnerable position to get into this currency called. the browns bottom and of course a lot of brits think that's you know gordon brown running around naked on a bicycle but that's not exactly what it is but at the time nine hundred forty tons of german goal was sent back to germany. as part of their panic he said you know they start to get nervous. that this whole car seat thing was going on fault the current position of germany of three thousand tons designed clue that nine hundred tons it's uncertain because the bunda spent doesn't actually report its accounts accurately it reports gold in the vault and gold on loan as one line item but obviously gold in a vault is different than gold it's been loaned out to you know counterparty so we don't really know the story but one thing that we do know is we do know that in one thousand nine hundred seven a couple thousand tonnes of gold moved out of the u.k. given the fact that the u.k. is not a gold mine or. had come out of the bank of england and so that was probably gold

being cycled by the by various central banks perhaps the germans to be loaned into the market or perhaps returned so the dates of that nine hundred tonnes doesn't necessarily corns correspond with the gold flows but maybe it was a gold loan that was being repaid back at that moment and ok so they could have financed that for ten years or so and then finally made good kind of in the dark of the night shipping gold that now that kind of brings to mind what's going on the china speaking about accumulating goal in the dark of the night they are out there it's scouring the globe for gold ache officially of over a thousand tonnes of gold but i think they're going to have a surprise shock announcements and what they say now what we're going to revise upward are gold from maybe two three thousand tons what do you see you smile you know what's going to another issue of they've they've had three of these announcements over the past ten years where they've had they say they've been buying gold now unlike gordon brown who announced in advance that he was going to sell gold. for whatever reasons that he made that point he the chinese are acting

like warren buffett they don't announce in advance when they're buying but they're in the market they're constantly buying when the price dips and you can see this in the physical market the demand for physical market remains strong continuing on the german story because there's a lot of you know it's very you know german and spa and cold war stuff is that all the gold it's running around so as you know i had reported that in one thousand sixty eight memo sent by the bank of england to the federal reserve. reveal that the fed had sent at least one hundred seventy two bad delivery gold bars to london in the late sixty's for safe keeping for the german bund as bank as repayment for swaps another intriguing story and you're a historian as well as a market guru here thought you know i read that story with a lot of interest basically were there pulling the wool over the germans eyes but you have to remember back in the fifty's and sixty's germany was largely controlled by the british the americans and the french you know the occupied berlin basically set the stage in west germany for the rebuilding of the german economy and so they

had a strong hand in german politics but you know here we are you know fifty years later sixty years later we should be thinking differently you know germany has been unified it's a major power major political force within the euro so it's sort of logical that they would want to bring their gold back and i think they should since we've been talking now going back to the ancient period of two thousand and five two thousand and six at that time get the gold antitrust action committee was was the only one out there saying you know gold's being manipulated the price of silver is being manipulated and they they were vilified you know across the spectrum people saying you guys are paranoid conspiracy theorists sense that sometime we found alive or massive interest rate rigging the whole multi hundred trillion dollars scandal we've got massive rigging in the energy markets now exposed here in london we've got massive fraud from the biggest banks h.s.b.c. barclays j.p. morgan goldman sachs there's an investigation h.s.b.c. for silver rigging it seems that if it if it quacks like a duck maybe it's

a duck i mean the price of gold it's all over is gets a right james start. you know they've been right for ten years and in order to understand the movements in the market you have to know what data knows you have to understand you know how the markets are being manipulated you know it used to be that governments followed manipulated their currencies in order to match the purchasing power of gold now the manipulate. in gold to try to match the ever diminishing purchasing power of the currencies you know that's the basic principle because if you control money you can control an economy and if you control an economy you control the people and that's what governments want to do these days when did that flips take place it was really you know over the whole twentieth century you know twentieth century is one of increasing government control but certainly nine hundred seventy one when he was close the gold standard and that financial ised global economy and what you just talked about kicked in yeah that was one of the last nails in the coffin you know historically there's a link between human liberty and gold this is what gets the gold bugs so religious

because what gold does is it impose discipline on government spending it government cannot create gold out of thin air but it can create paper money out of thin air to increase its power and that's exactly what's been happening over the past several decades and it's led to all of the financial imbalances and problems that we have today so we have to go back to gold government so i think you go back kicking and screaming or they're going to go back willingly hopefully they'll go back willingly people who follow you know a lot of times i see you ever. have as you on often and you know you come up with these these jewels these pearls that are fascinating you or over on his site and you're talking about how food stamps versus jobs this is an interesting metric that gives you a real clear picture what's going on last week the u.s. department of agriculture announced the august numbers were for over four hundred thousand people getting food stamps in that month and i compared it to the ninety six thousand people getting jobs that month so you know despite all the hype about the economy doing well it's quite clear just from this metric that you know with

four times more people getting food stamps and getting jobs the economy in the united states is still doing very very poorly food stamps included in the money supply. i don't think so what they probably should be you know forty seven million americans now rely on food stamps why can't they call and ask. anything like that would work and the type of quantity of money absolutely i mean it's a mess like how would a bomb. going for really about thirty seconds on barack obama reelected seems like more of the same yeah you know ron paul the other day said that we've already gone over the fiscal cliff i think he's right we're just going to see how we land we went over the fiscal cliff i think in seventy one we took the dollar off the gold standard and created this opportunity to have a lot of money printing and debasement of the dollar hopefully it's not going to be a terrible situation but as i say governments have to go back to gold and hopefully they'll do it willingly and by that i mean they have a five or ten year plan to go back to gold and everybody understands and

understands the plan but concerned that that's not actually going to happen ok so the takeaway for me from this interview is that if you think all is too expensive at sixteen or seventeen dollars an ounce then by silver it's like buying gold back on a six hundred dollars an ounce absolutely if you're prepared to take the volatility of silver compared to gold by silver. yeah that's what i like there alright that's all the time we have james starr thanks so much for being on the kaiser report thank you max this was a pleasure to speak with you all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'm with my guest james turk of gold money dot com if you had the time e-mail please do so at kaiser report of r t t v dot are you saying. you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something

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