because. you. had time on the time to unprecedented pressure from us for authorities to find planets in a crowded theater concluding that the president elect to return from right there right now you are going to parent. three. cause the investigation into russia's meddling continues. to turn pulls on from this is to turn that attention to americans need that pro and independents on a broad path and i found the growth of a possible conflict and war find relief for the troubled region. still the student. has been transported three

minutes. so that the white house and office and all misstatements before it's off to the woods. you can read more about those stories at all if you don't call them will be back again with news in the meantime but the kaiser housing bubbles that they didn't global markets. i am max kaiser this is the kaiser report i'm in denver well we both of us stacy back in denver at the science and children's art museum you know mark what's the name of this place museum of nature and science museum of nature and science right here in denver colorado beautiful day stacey you know i know we're going to talk

a little bit about what to rico and it's a really interesting story because remember all those libertarian hedge fund guys what they're like john paulson and peter schiff and our friend mike maloney and they're like no taxes now is free can go out and they're laundering hey who's going to pay for all this mess oh the government oh not so libertarian now are you i don't think unless i'm missing something we'll get more of the details so max yes we are in denver at the museum of nature and science the beautiful rockies are right behind us except for they're covered by clouds but the building oh yeah john denver sign yes about these mountains yes ron you know there's another rocky mountain somewhere in the world well i coulda been a branding thing like rocky mountain florida or something like you know some of these towns it fame paris texas just on france is it well that's true but obviously john denver you know he's actually there's a resurgence in

a revival in his music this is now the new hipster music is john denver all the pot smoking yeah that's what i was going to say is like the guy i saw the future rocky mountain high in fact you might hear some children screaming behind us yeah i remember when you used to just need to worry about kids having too many brownies and sugar and stuff like that now imagine sugar pop brownies what about rocky mountain oysters that's a delicacy looked up on you tube it's a can't go into details right here well max we are talking about. chaos because i know you interviewed when we were in aspirin like a week ago you know we went like twenty thirty years without coming to colorado now we've been here twice in one week but you are an ass when you talk to doug casey who's one of these guys who actually seeks out the chaos he moves to places that are in chaos because the governments there tend to leave you alone because they're too busy dealing with their catastrophes and there met the social breakdown in their society it was a race car driver he would tell you that he drives into the smoke when there's

a crash because that's where the car just was and therefore the safest route that's his approach to life he drives into the chaos except for puerto rico chaos going too far i think maybe that sounds kind of like something what were we in gretzky say he goes where the park should be or is heading talking about the park this is about to smoke if you play ice hockey for nascar and go a lot of guys in cowboy with ice skates then yes you'd be driving toward the smoky park which sounds like a john denver song. smokie poorer. than the car this is a crazy story so you know peter schiff has been having a bad time because peter schiff has been dissing bitcoin as it continues to go up and up and up and up and he keeps on saying don't buy gold and gold keeps on going down now here is a use case for him that is working in puerto rico should you have had gold

should you have listened to him what are we going to do puerto rico in chaos as cash runs out most puerto ricans haven't had access to electricity cell service or financial services for nearly two weeks now and as we reported yesterday residents who didn't stockpile enough cash have been struggling after hurricane maria essentially knocked the island's economy into the one nine hundred fifty s. forcing some to forgo essential supplies or worse resort to looting for those who do have access to working a.t.m. some banks long lines have sapped cash reserves as the country has effectively reverted to a cash only economy i might add that the one nine hundred fifty s. is of course is when people think make america great again it was in one nine hundred fifty s. posting in one thousand for the uses when west side story debut them broadway there with the sharks of the jets above the upper east side a replay of romeo and juliet but it kind of out of the one nine hundred sixty s. but nevertheless the music was great the dance was fabulous i think it was probably

one hundred forty s. or fifty's like the stories about that one we just had the queen. realizing that. the copyright art so may come down on the art yeah yeah thank you for doing that yodelling to interfere in my song to prevent us from having to pay onerous copyright fees thank you so for those whose access to cash has been limited or cut off entirely they are becoming desperate as i start to wonder how they will begin the process of rebuilding the. trash tones or even where their next mail me is i can't speak will come from as workers reports in the mail mail sounds like a strip bar. as word is reports cassady come just one of many scarce resources on the island food medical supplies and gas are also incredibly short supply again you know this is a situation like that where they just like the news crews are able to get down there and film these people desperate starving living in in water up to here or

living on their rooftops begging for food and yet like nothing nothing arrives to help anybody well no this is obviously a tragedy and lest anyone think that we're making light of this tragedy we're making light of those who believe that markets are sacrosanct that an arc of capitalism and the sanctity of markets will solve everything and that you know in this case that's the case and you have a few things going on here the disbelief in manmade climate change you know has caused sea levels to rise hurricanes to increase and for puerto rico to get scraped the reliance on the a liberalism and arc of capitalism hasn't helped these folks you know where are they in our couple so i can peter schiff stop down there stacking sandbags right now to protect his neighbors you know that will kind of economy is that and also in the united states is such a debt laden country there's no ability to offer resources to help one recall at

this point and this is going to be a pattern that's going to repeat in municipal allergies and territories in america and states all over the country from here going forward because the america is too fragile so as countries you know illinois about to go bankrupt is going to help illinois i was connecticut connecticut's about to go bankrupt it's going to be the new puerto rico who's going to help nobody how do they get their financialization you know what rick i was a stop for selling loads and loads of municipal debt for as i've said on the show for decades i sold it on wall street myself. the just increased the debt load and now it's blown away those debt payments are not going to be made who's going to bail them out the government is going to come aground and paulson is going to offer another multi-trillion dollar bailout to wall street because they're frickin love puerto rico good script well to be fair it was also government intervention in the markets that allowed these you know the too many investors to pile in and loan all sorts of money to puerto rico you know puerto rico would have been dumb not to take the free money but now they can't pay it back it's something they seventy five

eighty five billion dollars that they owe and now on top of this hurricane maria. is going to cost thirty billion at least so far they tally thirty billion but of course the roads are gone the a lot of the airports are gone nothing's there so they can't even go out to look and survey the damage but you know another interesting aspect of this story is the jones act like people. don't really cover this in the mainstream media rachel maddow doesn't talk about this sort of stuff like how did puerto rico get to such a dire situation you and i have talked about it rachel maddow who's gone full blown conspiracy nut case you know by the way we're on a public sort of terrorists here at the museum so you might hear some people talking in the background stuff but so rachel maddow is on and you know going full blown insane while here we see that the jones act. is how puerto rico has basically

a sanction on them so they're not allowed to receive any goods into the country all the oil and oil products that need to be imported all the food that needs to be imported all of it has to be on u.s. built ships u.s. manned ships and u.s. flagged ships they cannot accept any goods from china or venezuela or you know europe european nations that all has to go through the u.s. as a huge load of another toll on top of the tolls of the all the other products that came from wal-mart in china delivered to the u.s. then has to be put on a u.s. flag demand and built ship and sent there so all these sort of costs have been added on because there are a colony of america that's the key phrase or colony you know america has a colony it's called puerto rico and they overcharge them for stuff and now that there's a disaster they're leaving him to rot and it's a failure of capitalism it's a failure of politics in washington it's

a failure that we saw coming for decades and it's a failure coming to the shores of america you know puerto rico the colony is getting treated the same way as the south american and middle american countries have been treated as colonies for that is loaded with debt and then a little american central america rustbelt is middle america social marriage. but suspended the jones act despite there was a lot of there's been so much lobbying and corporate pressure not to suspend the jones act but this is something they live under now we've also talked about the fact that they have to pay much higher rates of medicaid reimbursement than other u.s. states they are u.s. citizens there but again there's thirty billion dollars in damage on top of how much was harvey in houston was that something like one hundred billion so these are huge costs being piled up. on to bankrupt countries to say my grandma used to say

mounds of prevention is worth a pound of cure now that all this stuff could have been prevented decades ago rachel carson and one nine hundred sixty s. wrote silent spring it was a big wake up call ok there are going to toast and these are things are here we are you know half a century later exactly where many predicted we way we would be and there's no money for it so i mean i talked to peter's shift personally about this he said well i've got a concrete fortress in puerto rico so here is an exile in puerto rico alone surrounded by hostile you know folks at last it mentions looting that the other. is going to be in the shotgun looking through a peephole in his concrete fortress you know shooting puerto ricans to protect his gold supply back there of course there is a lot of looting so yes you may have some gold or silver to go buy goods but anybody who survived the collapse of argentina will have a testify that there was a lot of gun violence people got shot dead as soon as you started you went into a shop and revealed you had some silver ha ha ha i have money when you peasants

don't because you're suckers and you have your credit cards and all that stuff that doesn't work i'm going to buy this house over the local day go with a gold plated debit card saying see you are rich and then good luck getting home peter so the new york fed in these last thirty seconds here they're saying that they're going to deliver some emergency cash but again zero had questions whether or not like there are they could have this done in the military to protect the armored vehicle does a little bit let me guess they're going to have to not raise interest rates and we got you can't raise interest rates because there's a crisis oh so in other words all that's what matters is i got a subsidy and renewed multi-trillion dollar prell up in free money because a lot of puerto ricans going to die and that you can see america going oh my god who predicted this except this show three times a week for knowing ten fifteen years we've got to go to break. we'll be back way.

americans are constantly warned about the threat of terrorism terrorism is very real and very deadly however terrorism is not the primary killer in america americans are the gun debate is important but why is america so what. economic development is all about numbers really pleased to report this quarter we are modern six point. but what do we know about the other figures. when i think about the fact that our c.e.o. might do. over twenty million dollars last year more than one thousand times the average wal-mart is says. with all due respect i have to say

i don't think that's right. is that just how a free market would. people went from pretty simple financial lives pre nine hundred eighty to the point now where people are. just totally submerged in their financial accounts and they're all in debt and what exactly devoid society. the part of the government tried to do it wasn't necessarily making. it might be making things worse. by saying this is not work this is. hopelessly disastrously wrong. welcome back to the kaiser report imax keyser time now to turn to doug casey an aco capitalist speculator investor author doug welcome thanks max it is always

a pleasure to be here with you yeah so a lot of people are familiar with your nonfiction work of moving into fiction and that is the gold market god not dull no no it's got nothing to do with that i'm very involved in the commodities markets because commodities have been going down since about two thousand and eleven and they're getting very very cheap again so i'm very very interested in them again but the reason i'm writing novels as opposed to nonfiction is there's a lot of stuff that especially in today's world you can say in the form of fiction the perhaps you'd best not say in the form of nonfiction close friend that throughout history the poets have found their ability to express their political dissent in ways that get around censorship and other other things so you're following in a great tradition there i'm reading the this is the book the second in the series of seven this is called drug lord i'm reading the back page chair so those i know

ran with guns and drugs i mean that right there that sounds good that's pretty good the first one was about the gold mining fraud that our hero charles knight uncovers in africa and he gets involved in a bush war makes a couple hundred million dollars has a stolen from them and so no after seven years running around the world he decides to become a drug lord now part of this drug is there's a prevents people from lying to themselves. we're trying to do is uncover the dark riess because the recesses of the human psyche these are morality tales actually because we get in because there are people who get killed in these books and i've been of the opinion for some. years that there are some people the just need killing oh well jamie diamond for example. let's put our finger on him i meant that in jest of course i'm not in the poetic sense of the word i'm using these

words poetically literally believe capital punishment should be applied to someone like jamie dimon for financial terrorism i don't literally believe that well we're speaking as fiction writers kind of we can say these things jokingly we're like comedians comedians can say anything about satire again this is a time where folks go historically swift you know it's not. gulliver's travels wrote satirically about things other wizard of oz is a satirical treatise on the gold standard so you get your message out i mean i guess the way to describe casey in one way is someone who did the world is their oyster another great writer shakespeare made this point and you look at the world and you go to the where you are wanted the most you've made that statement and you'd feel no need to live in a country with that you feel doesn't want you to live there is that still true and could have lost a little bit about that absolutely true i've been to one hundred fifty five

countries lived. live defined as i've been there long enough that i've had to buy a house or rent one and i don't believe that you should act like a plant. rooted to some place is not a good survival strategy for a human being. so. and anyway the world is getting smaller and smaller and all of these nation states that cover it like a skin disease are becoming more and more oppressive so it's incumbent upon you to be immobile to be mobile like this you have an external set and you know some folks are good hairdressers and they can travel around the world but you are simple star rated investor and you invest in these places and you're successful and i'm stuck here because this disease here of not knowing who you are that has to do

a successful investing doesn't because if you think about successful investors over history the fallacy most people make is that they forget who they are and they say they stray from what i would say is the blindingly obvious your thoughts you're absolutely right max because your greatest danger as an investor is the space in between your ears it's your psychology that tends to destroy you as an investor where you get over and you get over depressed you think you know more than you know or. so investing is a matter of psychology i think as much as anything else and the reason why i try to make the world my oyster is if i just look here we are in aspen colorado i live here during the northern summer and if i just look here in aspen for opportunities i find some what if i go abroad and off i know a lot more. yeah that's why so let's talk

a little bit about your. conversion to because. you've had a moment you've come to the damascus event you've been you've you've converted well what of what happened did did did did to jeff pro it take out back and rough you up a little bit in some sense and sierra what happened verb earthworks an old friend of mine and he was an early adopter of these things look it was back in twenty thirty and i was in company up to argentina where a lot of interesting people wander through and young belgian guy applauding lunch and he promoted the unbid coin back then and he said thanks for lunch here's a physical bitcoin which they had back in those days i said thank you cheapest lunch i ever had because bitcoin is now trading no four thousand dollars but i found out that physical bitcoin and start of fact. ten thousand dollars i got to buy the sky an exotic dinner i didn't the reason i didn't jump into it when he

promoted me on however was that i looked at things from a rational point of view i aristotle's five characteristics of a good money durable the visible convenient consistent bitcoin passes those to us more or less problems what was the value proposition it's a fee out currency i didn't realize that the real value but coin and i think i'm right is the transfer mechanism to. obviate the swiss system to obviate foreign exchange controls to allow and also to allow people seventy five percent of the human race that lives in these backward countries that have kwacha pool guru pesos for money they can't see the money and if they do they can't get it out of the country because in solves that which is why i missed that at the time so we got a little bubble in these cryptocurrency is no but i think it's going to be a much bigger bubble oh i think right part and parcel to side of knowing yourself

is knowing when you need to rethink something and that is a lot of very difficult for people to say you know maybe i need to rethink something but you know another theme you've mentioned here is you're on your travels and you are not a fan of the nation state or the government's got countries and i've said i'm curious what your thoughts are that bitcoin is to the nation state with the printing press was to say the catholic church that they had a monopoly on information the printing press came along and then the renaissance of the enlightenment came after that the nation state as it seems china trying to push back they have been defined in their abilities i think however you're right but i think the china is actually because they want to get rid of the dollar why should they use their. maybe not frenemies currency i think they're going to be the first adopter of crypto currency as an alternative to the one and. i think this is just

a. transition period for china unfortunately i'm for listen what you said about the printing press so the gunpowder and other technologies that they liberate the average man and but coined is doing that but unfortunately what these governments are doing because. it is their turn to get rid of all cash limited gold they're trying to get rid of cash and in the future they're going to try to make it so you can't use anything but a crypto currency government crypto currency and this is going to be a disaster from the point of view of personal freedom when that happens to be fair the government centralized crypto currency is much different than bitcoin which is decentralized non subtly controlled they don't like competition though they're going to write but try to kill me but they will try but we can talk about it for a while but i don't think that they will be successful for one reason is that the whole crypto clinton just moved to another territory where there was

a nation state relies on border border control other other machinations which they lose control but i just want to move on here so you one of the reasons that you like living in places is going through chaos is because. governments have more room to carve out something for yourself because the governments are preoccupied with their kids or chaos and so you end up in countries that are maybe. not as stable as maybe they would hope to be is the u.s. getting to the point now where it's approaching a moment of chaos where people are going to start coming here figuring out you know this country is a castle movie or just carve out some freedom or what do you think thinking on that i think what's going on between these so-called blue counties and red counties is that. i went through the late sixty's and early seventy's when there were riots. bombings and everything was really kind of out of control but the situation today

impresses me is much more serious than that this is like pretty civil war type of things where people are just philosophically they just can't even talk to each other so it could get nasty here. i don't mind being a foreigner in a country where it's because of your foreign or your go to really care about. you know you're no outsider. and as a foreigner i mean i've been treated very well for buying houses and that i was paid to live in these places you buy an asset really cheap things get better you saw it for a lot more go to the next place what happens that makes your life much richer and having these weird experiences which i happen to like right well seems like krypto and you are a mouse made in heaven because everything that you talk about that are the shortcomings of government and money and central banks liberated the bitcoin you can go into any country you want with a twelve word seed password in your mind and not even any hardware created in the

wallet on any connection and there's your cash you know it's wonderful so much better than using the swift system or the banking system i hate them both i'm glad that the crypto currencies are going to destroy swift and hopefully destroy most of these banks which are a very negative influence. on the welfare of the average man today let's got about a minute left so let's talk about like what's happening here a shrewd observer of the banks and central banks and want to get your thoughts on the fed us federal reserve says they're going to unwind their four trillion dollar balance sheet. and they think that that's time to unwind that they're going to start selling these assets they bought over the air so how's that going to go down oh my god i mean the fact that anybody even pays attention to what that silly old lady's as. she is that no understanding of economics or the real world them and she is a academic living in

a bubble janet yellen i'm talking about the chances of their being able to do that are slim and none and slim is out of town because as we speak max we entered this gigantic financial hurricane in two thousand and seven once the leading edge seven eight nine ten big guy the storm the huge hurricane i think as we speak we're moving into the train. edge of the hurricanes could be much worse much different and much longer lasting the what we went through in those days and the only thing these stupid central banks can do is print even more money even the printing trillions they've already reduced interest rates to zero or less which i thought was metaphysically impossible there's no more arrows in their quit or grow quiver so hold on your head for the years to come rats advice from the guys report my pleasure was going to do it but this edition of the kaiser report with me max kaiser stays ever like to thank our guest doug casey who's got

a renaissance body does it all now as an author and the books look really exciting if you want to catch us on twitter it's kaiser report and so next time i. spend government should be brave you to accept that if. full information goes to people what does it mean what it means dependence with means in hand so tell me so and the question perhaps should not be only yes in those two independents but those will. be looked at the. los angeles the city of luxury and fame but also an alarming number of people living in the streets. simple fact an hour late.