that sam sacks we'll see you back here at eight pm thanks for watching. welcome to the kaiser report i'm max keiser happy boxing day boxing day is traditionally the day following christmas day when servants and tradesmen would receive gifts from their bosses or employers known as a christmas box and one of the masters of our universe left us in our christmas box of a zero. for good of all not even a lump of coal seams in fact i'm afraid to say they the masters of the universe have robbed us blind to twenty six million ounces of gold for example has been drained from london gold vaults sent to china never to return again not in our lifetimes anyway and your bank account how does that look today

a bit more depleted than usual could be that the masters of the universe online the n.s.a. change your bank account balance that's what i've been up to. all those jokesters at the n.s.a. just playing around with the financial system for fun and finance a game i thought the reason they were involved in all that invasive technology is tuesday was to keep us safe well remember they've denied that they were involved in corporate espionage but in this latest report investigating n.s.a. activities and what should be done about it something has emerged in one of the recommendations and that is report suggests n.s.a. engaged in financial manipulation changing money in bank accounts the new white house intelligence taskforce issued some recommendations on how to reform the n.s.a. and recommendation number thirty one max read governments should not use their offensive cyber capabilities to change the amounts held in financial accounts or

otherwise manipulate the financial system so many are asking what exactly did they . i see that the n.s.a. has been doing and that they would recommend that this course be taken well it's part of the balun psychology we saw in cyprus where the state can just bail in the system by taking your bank account confiscating your bank account this is a mission creep because the central bank. a few decades ago started their relationship with banks like j.p. morgan who hold by some estimates ninety trillion in derivatives off their balance sheet on the bank balance sheet of the federal reserve bank so they share this off balance sheet black market or dark market now the n.s.a. is getting involved in they'll say well all of the bank accounts in america are now part of the j.p. morgan's balance sheet off balance sheet which is part of the federal reserve all balance sheet so it's a multi hundred chilean dollars slush fund that the n.s.a. wants to control so it's on that they feel the price of gold might want to go down

to favor the shysters and the u.s. dollar matrix they can get the n.s.a. to do a little bell and j.p. morgan federal reserve bank so it's all controlled it's all master it's all part of the what ever the crash of eighty seven and became known as the working group on finance or the plunge protection team is now joined up with the n.s.a. to give them either more leverage and more access to people's cash to do more manipulation in the name of safety to keep us from all the bad guys they're the big guys are out there they're not the n.s.a. oh no well trevor tim of which is the electronic frontier foundation tweeted this he said doesn't n.s.a. report recommendation imply that n.s.a. is conducting offensive cyber attacks against financial systems so that's one question that's an act of war if they're doing it against other people it's an act of treason i guess what they're doing against the united states but one of the things that they get americans on side to this sort of as a federal judge has now ruled that the n.s.a.

program is unconstitutional but americans will screech and shriek and scream that this is good because if you've got nothing to hide you've got nothing to fear from them well we've already know that that not only can they change the date that an e-mail was sent to make an e-mail look like it came from you so they can create guilt in the person they could create something to hide in the person but here they can also create financial transactions apparently to make it look like you accept money from the bad guy or maybe. that you sent money to the bad guy so we this is sort of east germany that you saw him east berlin during the cold war days as to what the stasi was doing. in the merkel actually made that reference race related to a barack obama saying you're acting like the stasi she would know because she grew up under the stars i mean the average american if the government stalled one of their kidneys they would say well i've got another kidneys so i get up and. you know take a kidney it's all right along as long as i'm safe as long as i'm safe that's ok

take my kidney so along with the same sort of thing of the boxing day what sort of presents have been left and what sort of presents have not been left for various people around the world this is from the u.k. h m r c last nerve over a big tax avoiders say m.p.'s. marcy is her majesty's revenue and customs and british officials have lost their nerve in tackling tax avoidance by global corporations and have presided over a thirty five billion pound tax gap as they pursue easy prey such a small businesses and individuals a committee of m.p.'s said so this is the public accounts committee and what they added was that revenue and customs has left the state with another multibillion pound shortfall by failing to gather two point six billion pounds of an expected windfall from swiss banks so they chickened out of pursuing any of the billionaires and multinationals like google and vodafone and starbucks but they've gone extra hard after small and medium sized enterprises the ones that have already been by

the way been destroyed by the government owned royal bank of scotland but this is part of the apartheid wall the interest rate or a monetary apartheid wall the u.k. tax authority if you will cheat those living on the right side of the apartheid wall with kid gloves they want to go after them and have them fulfill their legal obligations but if you live on the wrong side of the apartheid wall then of course the guy. will go after you because you're not the right it's not the right skin color in this case but you're not that you don't know the right people so some like mandela's apartheid in south africa this is george osborne's apartheid in the u.k. based not on the color of your skin but who you know well it's also part of that whole military industrial complex political owned the spy surveillance state we know for example under george w. bush they were allowing cia agents to work for banks so perhaps these officials and

government are terrified that the fact that the n.s.a. is able to change their own financial data take money out of their bank accounts with no recourse and and who owns those guys who owns n.s.a. who owns the cia if they're working for j.p. morgan and goldman sachs we don't know but if they're allowed to and they could take down you know david cameron if they could deplete his bank account maybe he's going to be more obliged to want to help them well there's been a lot of cases where the government agencies gone into individuals accounts and stolen money based on their theory that the individuals were doing something incorrect but it turns out that they were just desperate for cash so i mean we'll see more of that going forward and of course sell that scapegoat to people that they're stealing money from again a nother apartheid type of strategy is to somehow vilify the victims as being evil while they steal their money now another gift on this boxing day is this headline accidental tax break saves wealthiest americans one hundred billion dollars so this

is called the shelter it's a tax shelter known as the walton grantor retained a new woody trust or grat and this is an accidental loophole that has saved the wealthiest americans one hundred billion dollars over the last ten years federal law requires billionaires such as seldon ableson who want to leave fortunes to their children to pay state or gift taxes a forty percent on those assets it also has blunted that by by exploiting a loophole that congress on intentionally created and that the internal service revenue. unsuccessfully challenge it's all just a mistake and of course the likes of sheldon adelson only tell you over and over look i'm a billionaire i we're thirty billion dollars and i have to pay forty percent taxes on inheritance this is unfair this is unfair this is unfair but the fact is he never has to pay he doesn't pay it's just the normal schmucks with like a ten million dollars that end up paying the estate taxes that are paid yet again shelly adelson living on the right side of the apartheid wall so he accidentally gets a tax benefit that nobody saw it coming i mean while if you live in the wrong side

of the apartheid wall then if you were to him in a tax payment then the force of the law comes down like a ton of bricks and so you know it is really based on your economic fortunes it has nothing to do with a meritocracy or a democracy or even capitalism it was a club soccer city run by schmucks like shelley who is an embarrassment to america there are some people outside of the system delivering gifts to their own people in this we're going to go to the american reservations you talk about apartheid these are the original bantustans from which many around the world have copied and imitated this as a model and this is native american activists want to swap the dollar for bitcoin so this is from the pine ridge reservation in south dakota and one resident of pine ridge want to do away with the dollar altogether in the hope of building a better life for his community pi you harris an unmarried thirty or father of one is a web developer an activist who can trace his ancestry back to the northern shi'a and

one of the tribes that defeated custer at the battle of little big horn he is once again launching a war to free his people from the american government only this time his weapon will be a crypto currency pine ridge reservation of course a very famous reservation in america in the use of bitcoin on the reservation is a brilliant. epic chapter in the history of bitcoin and i totally should. this idea of pine ridge indians to used to do used a bit coin as a way to escape the occupation and you mention the original bantustans or the original model for genocide by core pocker c. of course being the american indian it was copied by hitler famously said you know i when i did my genocide i copied the american genocide of the american indian and of course the obama administration uses that in the bush administration when they wipe out and they commit genocide in iraq or these other places they they they use

the original state genocide of the american indian so bitcoin yes of course this is a way to somehow re calibrate the playing field to give these american indians some relief from the genocidal maniacs in the white house so i'll tell you what it's called it's called the i.o.t. initiative and he wants to bring that because of course these reservations they have a semi sovereign nations there and he wants to we're planning to use the reservations as a launching point for at cryptocurrency experiment this is the nerds revenge bit coin is a way of getting involved in big finance without being a harvard grad or part of the wall street elite opens the door for the common man to get involved so you know we talked about not only your government sending all your gold overseas but also the n.s.a. just depleting your bank account so here he's saying we're going to come up with a model that hopefully will be something that spreads across the u.s. before he says the first mover advantage goes to somebody else like venezuela or

latin america he said of course the native american indians did have first mover advantage in the united states but they lost that one all in the name of leonard peltier i command you over there pine ridge and embrace bitcoin and come on the show get the chief get the chief of your tribe to come on my show and we'll spread the word around the world we've got to go stacy and i got to put on my indian headdress and do a bit coin dance where's my christmas box it's in my bitcoin dancer in. whatever that is. stage of the second half a whole lot more please. it's a problem it was terrible they are legendary hard to take out a letter to get along here there's a lot that you never had sex with her make their lives let's

play. list celebs lists lists. of. i suspect. we're going to go digital the price is the only industry specifically mentioned in the constitution and. that's because a free and open process is critical to our democracy schreck albus. in fact the single biggest threat facing our nation today is the corporate takeover of

our government and our crafts difficult we've been hijacked why handful of transnational corporations will profit by destroying what our founding fathers once built up my job market and on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem trying to fix rational debate and a real discussion critical issues facing america to find the book ready to join the movement then walk away from the big picture. please. please.

cross talk rules and if they've got these you can jump in anytime you want. well go back to the kaiser report imax guys are out of turn to cause a report favorite jam squirrel's of the real asset company also now a presenter of a new online t.v. show get real janet welcome back to the kaiser reporting q merry christmas thanks and before we get started we were talking about mince pies you've got the inside story with the best mince pies of the year talk about it i have had. best

means pies on in fact from the very famous london department store but they are from old rich the european supermarkets i think german supermarket budget basically compared to her and that's where the best mince pies are. actually brought something well we have breaking story here best mince pies now let's talk about what's on everyone's mind this time of year gold and silver now barring a last minute serves in the price will be the first down year in a decade so talk about it and what you see for next year europe is the face down here in a decade many people are comparing this to one thousand seven hundred seventy six period when we sort of correction as well was in terms of next year i think we'll still see prices remain i don't think we're going to be seeing you know if when we see these corrections come back has to take twice as long as the correction is in order for it to return to kind of new highs or back to where it was so i think it's going to take a period of time but you know just last week tapering was finally announced after

we've been teased as if for the last few months and i think now that's probably going to give a bit more focus to speculate in the market then not just what the fed's doing all the time and money policy you know there are all these other central banks have that expanding that she's that's going to get some but so which i'm going to talk about a bit more i think that's really going to be quite exciting next year when compared to gold i think that's going to be the one to watch ok we're going to talk about so over a second if you go back to the seventy's period just mentioned. precious metal prices went up against a. drop of rising interest rates so the fact that interest rates could be in a cycle of tightening at this time does not some argue a negative for precious metals and latest move on to silver for a second because you mentioned that silver could be a winner next year the demand for silver seems to be off the charts right talk about it yes i think you and i have probably made we've discussed in the past a demand for this particular way and you know the u.s. men's the canadian men and the person at the top three sellers of coins this year

when the u.s. mint just starting sample they sort of forty two point four million ounces this year which is phenomenal compared to previous years i think the ratio is of their selling of. so coins to once gold coins is forty eight to one you may say so was far outstripping go tomorrow and say that's in that respect so you're getting that in the west is this phenomenal so demand and then a very in the east where there are some restrictions with gold maybe in india you know the amount of silver imports are also hitting record highs i think it's going to hit they expect by the end of this five thousand two hundred twenty five thousand four hundred to import into india and say whilst gold has been disappointing people so what has a similar price action is disappointed to a large extent we have seen people replacing their gold mine for so with demand just in this quest to have some form of money and a safe haven so i think it was a much better reflection of the general consensus of how people are feeling about cash in the bank in the general financial system let's talk about gold for a second because gold is

a business it's the gold mining business and like any business there's the cost of production and every bit of goes into that business the with silver and gold in particular at these price levels we're seeing gold mines shut down so does that also suggest that the supply of gold will be less restrictive someone yeah i think you know there is there's he's discussions going on at moma lot of conference is a focusing around this cost of production marginal cost and i think overall the general consensus. close to twelve hundred and fourteen hundred dollars to mine and outs of gold and say we are heading below that cost in the price of gold is but you know a lot of mines been popping up during this bull run and a lot of investments are you going to them so some of them are even coming to fruition now in gold so a lot of the cost that they're already sunk cost and gone in and so mine production gold mines i can still expect it's current climbing into the next year i think next year is expected three thousand tons and then from twenty to fifty people expect to start tapering off but all of these discussions about this fall in supply that is

going to get into the mindset of people and people will once again going to start realizing that they were at the beginning of the bull run that this is a finite asset that is limited and it is still being mined and so you put more people buying it but it is not still remind them there's less available and so the price will go up so i don't think you missed the part continues to climb for the next year this that's bad news for gold because it is still being snapped up as we've seen in china which you talked about before already genocide for being an analyst and a presenter you're also an entrepreneur and you are embarking on a project where you have a look you're launching a new show called get real it will be available online the first one is already gone line it's got twenty thousand views ahead by anyone's standards also about it oh yes it's great. and we're going to be looking at real assets so the first one was on gold and silver the second was talk about when it was online and it's just looking at everything that is real so you know there are some amazing different

types of real investors out there that haven't even crossed my mind my most favorite one i'm looking forward to see is how bags is expensive bags and expensive shoes she's were big hit by the way on the first episode where we had ben davies on talk about gold and silver and there was this you know it's really great talking about different experts everyone loves ben davis from high cap so we have an expert from why invest and will continue doing this i would look at whiskey. farmland all these amazing different things that people wouldn't have considered investing in but they're real. exists that's finite and there's a demand for real stuff there was a bottle of wine a day after i brought you up on wine my rice mouth thank you this isn't quite the good stuff that you should have pap yes this is like the pope's one yeah it was just. some actually gave it to me personally so i missed some kind of mexican abreu if. i knew i was mexican there why not we talk about. it's actually day wind you know that i'm but you know i gotta keep the good stuff of all i can bring my own thanks john that's really sort of you to bring me the mexican chefs

have a very nice now one of the in the first episode of get real your new hit show. one of the revelations was that gold ingots being specially fabricated in turkey for special transport to india and beyond what's this all the yeah this is. smuggling the various parts of the body that they can be smuggled three and so they're being reshaped accordingly to facilitate the smuggling smuggling into has been phenomenal they say which is inevitable when they come down on gold how they have we go to have been significant you lie even to the point that deval you didn't even make that much of an impact on the gold price of gold price they went back and mentioned that would be different ways of refining and forming gold smuggling i think a lot of people enjoy facts and. specs. so the smuggling business is quite a factor now as we have

a situation in various countries that are trying to and india in particular right they're trying to clamp down on precious metals so smuggling is becoming and contraband and the black market in gold is happening the way that you're financing this project in the way that you're going to bring it to market for this get real project will be on a crowdfunding platform called start joint yeah well start joint and start joint which is not yet. open i think it's an coming thing pre-registration better in the next two weeks it will be up and running and not only is it crowd funding but it will also have a big point component so people can use bitcoins to crowd fund your show which are then you going to distribute it over the internet now as we as the feds to states have been safer do you think that going forward you're on the editorial side you'll have greater freedom to express yourself editorially because you are socially being

crowdfunding the editorialization the content you so you answer to your funders and not a big shape sporty yeah what's great about crowdfunding is that our founders i will save you the audience you know our funders there will say the audience that the people that will tell us what they want to say say i would be here tomorrow at her freedom already just from the feedback on the fast eps they get real people going to that's going to mean talk about how the banks again or you may have you looked at whiskey and and that's great you know you guys are funding the show you say of course we're going to look at these things and if there's a story behind it i'd love to get in touch people let's talk about handbags for a second because this is and shoes i hope sanctions listen what i've said to watch over the show because we're trying to protect this territory up on the north pole so your tax from big oil and mrs claus a cent on the subpoena almost every week begging and anyway it's also being victimized by the black hawk helicopters of exxon so it's a it's a war zone up there so handbags and shoes that may have come from the north pole

they're going to be produced. there in mexico and i wasn't quite the brunt of she's in i'm back though thinking about ladies' handbags seems to pricing seems to make no sense for example i hear people women paying fifty thousand dollars for a handbag so i mean a lot of people criticize bitcoin for having no intrinsic value but what intrinsic value can you apply to a handbag you would pay fifty thousand dollars for if we cannot see work that's for you fifty thousand of them who might but lots of people do you. they. claim design is often come out limits in designs you may say ok we're going to transit value story there i mean you've got a designer you've got to design but if i were down to the local shimada rag dealership. you know you can say but that's a saying you know you could have a bar go and then you find out its tongue it's got tungsten to live it doesn't matter really doesn't matter because not pure gold i want to peel back and i don't want to fake becky looking with the amount of components of that handbag are worth twenty bucks but the effort has gone into as well you know design to go into it the

legacy that it has behind it you know the history of something like a back in hamburg or a mowbray handbag which you know is much cheaper than that so prices in a bubble well they may well be and this is something we can look at and get real but you know the point is that this is this is something else that people are choosing to put their money and you know maybe if we could draw a comparison a very nice comparison see their women in india wearing gold around their necks is that what the women what it is go doesn't translate value women will say choosing star best for their wealth into an expensive one bag maybe that is something we could look at but they're not storing your wealth in a handbag they are going to kind of back and hold its value if you have got a really good and i expect and it does hold its value are you saying birkin roberton. ok i get confused sometimes displaced wants me to mention it several times because i see this whole thing as a sort of get santa clause to go down and get to the money we had about a minute left on its i was shoes shoes i noticed over the years that women have a fixation expensive shoes on shoes. and it seems to me that shoes are for women

what cars are as a man yeah comment on why i think she's a better because you can have more of them have a little you know you cut your outfits up so you learn to differentiate to match your outfit and again you know they give you confidence everyone likes the men appreciate women when they're in high heels women feel good when they're in high heels they're pretty nice paintings again she's here yeah and i and we come back to the high. bag thing in that you can be using them i will say you know them designing them good materials going to make spencer materials. cars for a man represents freedom in a lot of us and for women shoes are an expression of transportation and freedom to some degree to some degree but you can remove very quickly but you can move through a crowd with the right shoes in a way that you would not be able to move with

a pair of flat source or trainers as they call them here and other words if you have high heel pumps from chanel you know it well the nice. you could cut through a crowd like you're of god a muscle car from the one nine hundred seventy s. and you're a guy saying for a women it's their mode of making a statement and getting as i am way i've arrived in this crowd i'm going to say maybe i don't mind i travel very quickly on high heels but maybe that's something else that you and i can try out how quickly crowd in paris and how. well we're out of time. and i'm sorry to say we're out of time we got to go so jeff goes good luck with the new show you the crowd funded on start join dot com and you can pre-register right now and check it out until next time thanks so much thank you very much ok that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank our guest jan squirrel's of the real asset company if you'd like to get in touch tweet us at kaiser report intellects.

to the. reasons he has put is already plenty to celebrate. on this month's show we call the future of the section stone wall to make movies with an instant messenger on the river so still to me it's like we're really. here.

what's up people all those i'm not a marine and this is breaking in sets all veterans day came and went last week day full of empty gestures and baseless rhetoric of course the main on address concern during all the pageantry was the dire state of american veterans today isn't just days after the holiday a shocking new report revealed that almost one million servicemen and women have been injured in iraq and afghanistan that's right one million women soldiers have visited v.a. hospitals and the start of these wars compare that to the vietnam war despite the draft the number of wounded warriors total just over three hundred thousand and one million might sound extreme.