the animosity is not coming from the trumpet ministration which is being victimized by this leave the imaginary hobgoblin of the russian collusion with the trump campaign is being used by trump and the knees and adversaries to do it you. see. i am x. tiger this is the kaiser report yeah things are happening in the world of currencies and dollars crashing the arrows up against the pound of course as britain sank sense of miasma of their own stupidity thanks to the breaks in the gas co and all

of what's happening with gold and oil what's happening the oil and and stuff like that oh my god it's hurricanes everywhere you look of course we are now in new york city we fled north carolina just in case hurricane erma was hitting there was a bumpy bumpy ride everything was all the flights were canceled except for ours because all these thunderstorms was a private jet thanks to the back on. well hurricanes everywhere and there's no storm bigger than the category seven hitting the u.s. dollar this is a tweet from jim rickards who has been warning about this for years our ip petro dollar russia will sell oil for you on swap you on for gold we are is the u.s. dollar and all of this nowhere and this is based on the story we'll get into which is that china is launching a yuan based priced crude oil contract which you can. by for you on

but immediately to gold yeah this is massive you know few countries have tried this before remember saddam hussein tried to trade oil in your o.c. was assassinated a member of moammar gadhafi try to trade oil in your own he was assassinated then your third guy was also was yet a guy anyway countries have been trying to get out of the dollar for quite some time and trade oil in something other than the dollar the world reserve currency because of course any time you buy oil you have to buy dollars first besar keep the dollar up but now china has taken the bold step here in the twenty first century and after they've built our economy on the backs of all american jobs all the american jobs went to china and the created a middle class out of dirt member like other years ago fifty years ago thirty years ago before the world trade organization they were accepted into the average you know chinese person was surviving on dirt like they were haitian haiti but now they're all fricken middle class bitcoin mining because illian errors and what do they stand for thanks to all those marm walmart shopping american stooges well

we're going to take the dollar down to the garbage body well this is a story when fallen for a while all the basic structure of this new contract has been put in place over years and a few years ago a lot of gold bugs for example were really excited by the shanghai futures contracts and gold and yuan priced gold and that this was going to like immediately change everything but of course china doesn't operate like we do in the west they're like slow they prepare for years and years and now it looks ready dollar ization accelerates china readies yuan priced crude oil benchmark backed by gold and of course the important thing is you mention moammar gadhafi and saddam hussein iraq and libya those were oil producers so they are one thing but the consumer. your customer is always right and i want to show you this chart because

china of course is a mega importer of oil from around the world the us is a mega producer of oil it's one of the top three producers of oil in the world here is chinese crude oil imports russia is the number one from there for their imports twenty nine point two percent of that angola saudi arabia iraq oman. venezuela brazil kuwait and other so it's very wide range of nations that they'll accept the basically will be able to buy gold in exchange for get gold and in exchange for their oil so i mean that is pretty significant. so they've been preparing with this for a while because i k there offering you on in the price a new one but a lot of nations we well do we want the yuan do we want the currency risk or do we want to let everybody takes gold right is the keyword there is deed dollar as

a son and this is the trend is that ok jim records he wrote the death of money the new case for gold all sorts of books the one that i really like that i can't remember the title ok but anyway he's been predicting this for a while but the the trend here the story this scenario has taken a few years to develop that's why it's been overshadowed by what's happening in the crypto space which is you know every day you get these huge moves very exciting but underneath monies that are these bigger geo political moves involving chinese u.n. goal you know russia this is something that's more seismic and century defining but this is huge i mean we've been talking about this for fifteen years in terms of dollars ation and this also makes gold back as a reserve currency effectively i mean gold is now it is a new gold standard. urging again you mentioned saddam hussein

a monarch and alfie and they were like oh we're going to do this and of course they didn't have a plan china doesn't do that it took a decade maybe two decades to lay a ground or for this and not tell us the art of war well they exist because in other words if they don't dollars onto the world market the dollar would collapse faster than they could hedge against it but by aggressively buying gold as regards others i've been talking about a sceptical russia they're now they now have a hedge so they dump dollars into the market or everyone dumps dollars is great for gold so they're a hedge they've got a hedge against dollar collapse the u.s. stance oblio as gold but many argue that has been loaned out as part of the attempt to keep the dollar high and gold cheap you know this guy minucci it works for trump in the treasury assistant secretary in the treasury secretary wanted to take in charge he recently went there for an auction held up a gold bar but unfortunately that gold bars been loaned out minucci doesn't tell us

this because he's a fraud but there you go well while we were engaged in all sorts of circus bread and circus and the aftermath of all these hurricanes and fires and golfing america not only in the white house but actually in the physical space you know that the heads of state of russia and china were meeting and discussing these sort of things and clear and things like north korea and said of just spouting out of like we're a ball now i'm like we're going to wipe them off the map and kim jong un responded we're going to wipe you off the map and stupid things like that's like a twitter war but here again go back to this crude oil futures market they say that the crude oil futures will be the first commodity contract in china open to foreign investment funds trading houses and oil firms the circumvention of u.s. dollar trade could allow oil export or such as russia and iran for example to bypass u.s. sanctions by trading in yuan according. the nikkei asian review of course these are

again the things that i was saying is like saddam hussein or moammar gadhafi just announced stuff without a well laid ground plan in place for the consequences of their statements the same thing here what jim rickards have been warning about like when the u.s. when the nuclear option said we're kind of people off from swift as soon as you do that you know like well ok now we're going to have to devise our own systems here the same thing it's like. we keep implying sanctions sanctions which just harm the people usually have the general population of a nation not the elite so you do that over and over again and then eventually people are going to say well we have to devise a new sort of trading mechanism trump i think in the history books will go down as the billy mays with presidents you know billy mays is the probably the most famous t.v. huckster of them all like billy mays here for the fabulous much about it because lives they conduct right i mean look at those commercials he did for trump stakes

and i asked donald trump i love steak is why favorite food chopsticks are the premium stakes are the best things you can get better steaks and told states you know the guy is billy mays who died from an fetid mean methamphetamine poisoning as i understand it and there's a truck car on the smell of his own flatulence spewing nonsense selling garbage oh well i might have a lot of say that looks i way i got no idea looks good those hills still stiletto heels of destiny yeah ok she's literally every many men do ok let's move on top us next quote this is another guy this is another quote from somebody in the financial sector about this new oil futures contract price and yuan convertible immediately to gold at the shanghai exchange the rules of the global oil game may begin to change enormously luke grumman founder of u.s. based macroeconomic research firm f f t t told me asia review of course you know. gold and oil everybody knows that in one nine hundred seventy one

the us went off the gold global gold standard effectively going bankrupt and every recent innovation and nixon not only did he do that all of it on thing but he took us off gold what a loser well actually speaking of vietnam is a great documentary coming out where we just ran into ken burns on the way well we're at reagan one in two and we saw him on the subway coming down here yesterday didn't like this let's move for cocktails later this is i am on the subway ok so here we have now the dollar was backed by gold first and then it was backed by oil that was meaning the post bret maintained in the post bretton woods global financial system and now that could be breaking but you know not restructuring the global financial system i want to also point to another headline that was missed in all the craziness of the resistance and trump and insanity here in the hurricanes and fires inside of iraq and here's a tweet that says hash tag bricks bank headquarters breaks ground in shanghai the

one hundred fifty meter high building is expected to become a new landmark along hong river onto the sounds dirty well it's the new brics bank and this is going to replace the world bank i.m.f. in terms of these brics nations if being able to basically ply their dead rather than the bigger the edifice the smaller thing though here we're talking about a financial news story it's a new financial system global financial system an economic system here china's able to with their huge. pile of cash they able to now basically build an empire like the way the u.s. did after world war two they were the only man left standing the only nation left standing they had some capital they had some gold they had all the gold that everybody had sent to them for protection and they were able to do the marshall plan now china's able to do the one road one belt the one belt one road system here . i also have them down to the last two thousand years of history the countries

were in dominance in the world for the most of history were china and india true ok america was just a blip on the screen america was like billy mays selling vege of maddox which became dollar trump which became history's got of history is joke it's just a blip same with europe same with europe that was a blip to relative to the thousands of years of china and inscrutability and china's not going to go away the same to them they invented gunpowder fortune cookies are just going to disappear off the face of the map they invented paper money i think that was a long term plan they knew the best way to know how to take down china is obviously with bitcoin don't forget that central planning chinese politburo communists fake capitalists well i'm looking at stacy through the my for free for old vision and i think she's time to wrap it up for this segment and we'll be back after the break.

so don't go away stay right there. there are not ones out. on the flues often i don't want my next nights off the definitions and i'm back. when seeking out a new south. and. take them in equal city south korea sound it to me would oxycodone and then you're just going to play. with a kind. young movie if you might not be. good enough to know what that beach yeah sounds our. next guest dealing with one mean a leftist i know be deep but let me say this one tokyo find it is going to happen

going. to like. this one was because did a piece of dancing coral cultural shift i pulled the premise. but come back to the kaiser part imax kaiser yeah let's talk to michael pancho of bento what is it dental pork that something that's so portfolio strategies dope portfolio because he goes on there every day put a lot more website pent o.-port dot com right so what do you do or i did manage money i write a podcast i have a show called pencil nomics program which i invited you on i'm still waiting to hear ok from you three important i want to talk about krista currencies with you

commit about something and you've got the monogram costs look pretty good we've got i think that all right i look at polled conflicts yes you ready to get ready for carrot baby that's fantastic let's get into some now michael pena who of course but following for years he's a outrageously lucid commentator in this space i will say i listened to him and he's got some good stuff so i'm very honored to have you on thanks reza back the last time we spoke you're on the show michael you said we discussed cunto nomics cut the debt before you cut taxes mr trump ok talk about that as a sure i mean not not very well i guess there's a remnant of the tea party left in d.c. but now i hear republicans talking like they're democrats liberal democrats take just raise the debt ceiling when we even need a debt ceiling for cyst useless let's take the batteries out of the smoke alarm we don't need a smoke alarm i mean we're the go it's governor it caps the spending limit for congress they cannot agree on how to cut spending liberals democrats republicans

conservatives ok so on this is what happens we know you don't now they're trying to attach the funding for harvey with the raising the debt ceiling but now some there are some the the the vestiges of the tea party movement are saying no we're not going to do that will fund harvey relief and erma relief but we have to have some kind of concessions before we raise the debt limit and i'm all for that we're twenty trillion in. that you know our our deficit are going to be other already about thirty five percent higher this year than last year we have twenty trillion as i said we're going to go to a trillion every year just because the demographics every one percent interest higher in debt service payments it quits to an extra hundred billion dollars or i think i know two hundred billion dollars in debt service payments ok so we have a huge debt problem we're going to have another recession is going to happen soon that will lessen that happened that added an additional one point two trillion

dollars to the annual deficit so somewhere along the line we've got to worry about deficits i assume central banks are going to be buying everything forever you know in japan the b.o.j. is printing up i think it's now eighty the equivalent of eighty billion dollars every month with no end in sight they can't even pretend to end that because their ten year note is zero percent ok now in germany the nobility let me jump in on another show so you've covered a lot of ground there i know it up two points i want to i want to focus in on you study the interest on the debt and central banks buying stuff yes ok now is it true that central banks buying stuff in this case bonds are artificially keeping rates low course at the same time they can say well you know we can go into deeper in debt because your interest costs are so cheap but they are them they themselves are manufacturing that reality through their machinations of the market by buying back debt but is a matter repudiation of what is such a bank should be doing oh my god well we used to have

a central bank used to say well we want stable prices now we need for some reason everybody agrees it's hypnotic fashion that a two percent inflation target is nerve ana and if you have great growth and low inflation that's a problem ok well let's let's talk about that we talk about all the money printing fifteen trillion dollars of confetti of counterfeit money used to push interest rates down to all time record lows i was saying in germany the german boom is. point three five percent what the hell is a german boon a ten year note going out ten years point three five percent who's buying that but central banks i get what are you going to let me just make is what i'm so i'm so sorry but let me just make this point. it's like having the ability to go into debt and never have to pay any interest on it and never having the public to buy it the central bank owns a debt guess what the treasury pays the fed interest and the fed credits back the interest on them and they never have to float the bond will have to know we don't

know what religious rates are where they should be because the feds bind them and the b.o.j. and the e.c.b. that's why i'm i'm so confident that you know you could go along this market a little while longer max but guess what's going to happen once the e.c.b. this is the linchpin when marial draggy he's going to probably do it in october when he comes out and says we're going to taper our bond buying purchases watch that german boom ripped from point three five percent or way to two or three percent very quickly it's going to drag up treasuries here and bonds all over the world sovereign debt is going to skyrocket and that's when this phony economy and stock market implodes i know but we've been saying this for five years that there's a phony economy a phony market that the central banks you know there was a great hope that the european central bank would not do the same thing the fed was doing of the bank of japan was doing that there was a vestige of the old bundesbank that they were anti inflation that they would never monetize debt and yet they want to did it and drag has been doing it and they don't seem to care about it and but the capacity to continue on this game with the bank

and switzerland buying back by apple stock and buying assets in the bank of japan buying e.t.f. i mean i hear what you're saying well i don't see why now should this and i mean i can and i can hear the whole another fifteen trillion dollars worth of us going forward so draggy is running out of booms to buy that's one reason and let's just go back to two thousand and twelve though you remember the european debt crisis circa two thousand and twelve. when you had a greek to your no ten you're no at forty percent ok and it's allensworth seven percent portugee seven eight percent so you know they had to come in because the the amount of debt extent in the world today requires low interest rates or the whole charade implodes as i said before so i mean when can they ever get out of money printing here's what's happening in so that sort of the roughly say pray to their currencies and go. i'm going to tell you this i did already are you guys are you i was over the global what was i'm trying to get at golden. years is going to

happen the world is going to come into an epiphany a watershed moment and i don't know the date but it's going to happen soon when they absolutely reject the paper currencies they're going to lose credibility and the reason why they're going to lose credibility and no we've been saying this for a long time and listen central bankers have kept the game alive by buying now between the e.c.b. in the b.o.j. it's one hundred fifty billion dollars worth of bond purchases every month this is counterfeit make al capone look like a saint ok that's what's keeping the whole thing afloat yeah but sooner or later and i think it's going to be sooner people are going to understand that the central banks can never stop inflating the amount of base money the base money supply that's what they control not broad money base money supply and that means that interest rates in real terms are going to be negative for a very very very long time and that's what gold is sniffing out and that's the

whole for genitor of the cryptocurrency craze well ok i think the goal is a breakout of a bear market is better a bear market for four or five years it ignored the reality of used as you describe it and now it's becoming a price signal worth noticing gold is now saying it's calling time on this central bank missed mischievous behavior we can say that and of gold prices continue to go higher it will attract sufficient capital to pull the plug on the bond market. conceivably because the bond market is a one way bet you know especially if you're headed and you've got a ton of money you can basically just clip the bond market all day long but if gold is going to call time on that market then you could have a significant reversal but i want to talk about a country greece greece they had very high interest rates as part of the country going into freefall those were bought by the european central bank rates have come down which suggest in an economy when rates are coming down that it is in a growth however greece is continuing to fall into the adriatic if that's the

correct body of water ionian probably ok but unemployment skyrocketing. jan ok sound so much ok unemployment skyrocketing so there is in other words. what is going on here if the e.c.b. is if the rates are reflecting one reality or improve the economy but the reality of the reality is this a basket case economy is a basket case isn't that beyond just failed policy isn't there something more macchiavelli and going on here the e.c.b. is acting like beyond just a screwed up central bank that doesn't know their elbow from the canopies but they're acting in an malicious way it's very malicious well they're trying to keep their country alive i mean they have really had no choice i mean i blame them i would i would like to seen two thousand and eight two thousand and twelve is to let the free is anyone with a body a market they just want on the back when they found out their own backyard you sent why do central banks exists to bail out the way you remember the whole two thousand and eight credit crisis when we do did we give checks to people who are in arrears

on their mortgages now we took banks bad assets off their balance sheet and put them on the incentive on a very market capitalism the price. cut in now ok it's free markets are going to hit me as they close in free market cap will side these price or signals signal they give you tell you what the buyers and sellers are doing and i'm going to point is that of interest rates are no longer reliable signal of anything yes so then that's why money to get now to your point. it has been flowing in the crypt of currencies because it is a free market there is no sexual back destroying that market and now gold is catching a bit thanks to crypto currency. synchro down her body i don't know how do you know money away i don't know go there are for five thousand years ago where for the gold market currencies yes we help you yes thank you i heard there you know. your listen listen drip of currencies are wonderful if you believe their money i don't believe their money why don't they fulfil are still for equality wanted qualities of money money ok so which is money what separates the theory i'm from from that coin what

separates a huge profitable gold mine of south africa from me going down the street with a pail shovel i know i know this i know it takes about a thousand dollars an ounce right to pull and it's saying hold it out of the bank sixty billion dollars of protocol with servers and mining. so there's really only one cause twenty one million big going to be but sixteen but really a crypto currency it takes about five minutes i know that's why there i thought i was old i'm right here i got a pail but i can start digging for gold yet but ok but. but listen it's a thousand dollars to get an ounce of gold from the ground it takes almost nothing no money no time to create competing cryptocurrency is a thousand of them discipline and what is going to lose it all and there is only like i started to let out a call is t.t.p. protocol there was internet once it was established in the mid ninety's it became the defacto standard of the internet and you can create another h.t.t.p.

standard that runs internet but the cost of doing so be prohibitive and already are able to accept it so it's got a barrier to entry first mover advantage in a multi-billion dollar slice of the industry is not going to come up here you can trade a competitor here i dreaded competitor the a.t.p. right now for a dollar this i mean it's going to work it's going to take the market by storm know what what separates one these are these become commodities that they are now decentralized digital money they are created by the hundreds. every every month so there is no limit to how many of these computer aided and each new one dilutes the purchasing power of the ones and just how many good ideas go out and start a kernel that are basically all new ground with a liar over over over head looking down and saying it's keynes call so think about this think of this illogical experiment so if if we were a scientist create discovering elements in the ground natural elements by the hundreds that were beautiful very very rare and virtually indestructible by the day

wouldn't you then agree that we have gold platinum and all these additional elements that fulfill those qualities fungible tangible blah blah blah. would not dilute the purchasing power of the existing precious metals that were already above ground zero just like all the other element or something well you know the periodic table and it has properties of money that is not ascribed to copper or oxygen or helium they don't use it well you know it's something that in a lot size they don't corrode right last year and it quite has unique attributes but we've got to go darn it that's it thank you we got to know the segment thank you max and that's going to do it for this edition of the kaiser report with me max kaiser and stacey abbott like to thank our guest michael point zero zero fan joe portfolios look them up on google go to catch us on twitter it's kaiser report until next time by you know.

it will. be again making it to i would put one. thousand maybe more use any. of them i talked to make. one last debate we have not all been a surprise for us to. hear this body of the cutest body people will point the love up on this story here but this sort of thing you'll probably want to get to planet to younger people. i would accept a hero. for but it's easy to see and to for you what do you. see see want to split on the biggest one that's. yes your repeated in part but there's a debate about. this just as the city leaders just outside. of just feel so sad much kids trying to

get to some little fishes and means to do so little the same issue in the last combine yes the soft tissue just cut the same use. as long as you run support still the intel international community say to run this is not acceptable you should stop firing on this in. perspective baseless ballots hamas. is holding the place but this is something that i believe israel should see to good or withdraw of course with the united states and to say ok it's not just you know a small easily problem. it's

not coming from a trump administration which is being victimized by the us the the imaginary hobgoblin of a russian collusion with the trump campaign is being used by trump enemies and adversaries to do to them and his presidency. seen years ago i traveled across the united states exploring america's deadly love affair with the gun bad guy tried to get to one of my family members he would have better a lot better and i think they are inheriting whenever my my babies says my book was published in the year two thousand more than hoff a million americans have been killed by phones in the us we had a thought. yes this is a middle school we go through drills and we put ourselves in real scenarios it was interesting to see who actually got hit. to return to

the subject to track down each gun owner who had met and photographed those years ago. but. as a humanitarian aide. for the first time since. it was broken government forces are fighting to retake the last remaining districts from the rest. of. the united states the american president. with just a few weeks before elections in germany the country's foreign minister.